中国巨石股份有限公司 2025 年半年度报告 公司代码：600176 公司简称：中国巨石 中国巨石股份有限公司 中国巨石股份有限公司 2025 年半年度报告 重要提示 一、 本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人刘燕、主管会计工作负责人丁成车及会计机构负责人（会计主管人员）丁成车 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来经营计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺， 敬请投资者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 无 十一、 其他 □适用 √不适用 中国巨石股份有限公司 20 ...

| 中国巨石股份有限公司2025 | 年半年度报告摘要 | | | | | --- | --- | --- | --- | --- | | 公司代码：600176 公司简称：中国巨石 | | | | | | 中国巨石股份有限公司 | | | | | | 中国巨石股份有限公司2025 | | 年半年度报告摘要 | | | | 第一节 重要提示 | | | | | | http://www.sse.com.cn 展规划，投资者应当到 | | 网站仔细阅读半年度报告全文。 | | | | 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 | | | | | | 中国巨石股份有限公司2025 年半年度报告摘要 | | | | | | 第二节 公司基本情况 | | | | | | 公司股票简况 | | | | | | 股票种类 股票上市交易所 股票简称 | | 股票代码 | | 变更前股 | | 票简称 | | | | | | A股 上海证券交易所 中国巨石 | | 600176 | | 中国化建、中国玻 | | 纤 | | | | | | 联系人和联系方式 董事会秘书 | | | 证券事务代表 | | ...

人民财讯8月27日电，中国巨石（600176）8月27日晚间披露半年报，2025年上半年，公司实现营业收入 为91.09亿元，同比增长17.7%；归母净利润16.87亿元，同比增长75.51%；基本每股收益0.4214元。公司 拟每10股送现金1.7元(含税)。 ...

中国巨石股份有限公司 2025 年半年度报告 公司代码：600176 公司简称：中国巨石 中国巨石股份有限公司 2025 年半年度报告 1 / 149 中国巨石股份有限公司 2025 年半年度报告 重要提示 一、 本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人刘燕、主管会计工作负责人丁成车及会计机构负责人（会计主管人员）丁成车 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 2025 年上半年母公司实现净利润 519,472,300.47 元, 截至 2025 年 6 月底可供分配利润 818,733,651.19 元。综合考虑后，拟定 2025 年上半年利润分配预案为：以公司总股本 4,003,136,728 股为基数每 10 股送现金 1.70 元（含税）。2025 年上半年公司共计分配股利 680,533,243.76 元（含税）。 六、 前瞻性陈述的风险声 ...

中国巨石：上半年净利润16.9亿元人民币。 ...

证券之星消息，8月26日玻璃玻纤板块较上一交易日下跌1.27%，宏和科技领跌。当日上证指数报收于 3868.38，下跌0.39%。深证成指报收于12473.17，上涨0.26%。玻璃玻纤板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 301526 | 国际复材 | 6.85 | 2.54% | 249.27万 | 17.81亿 | | 600176 | 中国巨石 | 13.77 | 1.40% | 81.51万 | 11.22亿 | | 002201 | 九鼎新材 | 8.56 | 0.82% | 29.07万 | 2.46亿 | | 600293 | 三峡新材 | 3.18 | 0.63% | 27.39万 | 8670.82万 | | 600876 | 凯盛新能 | 11.26 | 0.36% | 4.74万 | 5346.74万 | | 600819 | 耀皮玻璃 | 6.47 | 0.15% | 9.97万 | 6453.27万 | | 000012 | 南 玻 A ...

内容概况：汽车自动变速器摩擦片作为实现自动变速器传动功能的关键核心部件，其技术水平直接影响 着自动变速器的整体性能表现。我国在汽车自动变速器摩擦片领域起步较晚，长期以来市场关注度不 足，国际巨头凭借先发优势垄断了大部分市场份额，导致国内缺乏能与国外大型企业相抗衡的自主品 牌。然而近年来，以林泰新材为代表的本土企业通过持续的技术攻关和自主创新，成功突破了多项关键 技术瓶颈，有效打破了国外企业的市场垄断，显著提升了国产汽车自动变速器摩擦片的整体竞争力，带 动了整个行业规模的快速扩张。数据显示，中国汽车自动变速器摩擦片市场规模已从2021年的53.64亿 元稳步增长至2024年的63.47亿元，实现了5.77%的年均复合增长率。随着汽车产业链自主可控战略的深 入推进，国产自动变速器摩擦片的市场规模有望继续保持增长态势，预计2025年将达到65.74亿元，展 现出良好的发展前景。 相关上市企业：林泰新材（920106）、旺成科技（830896）、金麒麟（603586）、首钢股份 （000959）、中信特钢（000708）、东方盛虹（000301）、蓝晓科技（300487）、中国巨石 （600176）、中材科技（002 ...

Market Performance - The glass fiber sector increased by 2.91% on August 25, with China National Materials Technology leading the gains [1] - The Shanghai Composite Index closed at 3883.56, up 1.51%, while the Shenzhen Component Index closed at 12441.07, up 2.26% [1] Individual Stock Performance - China National Materials Technology (002080) closed at 38.15, up 8.10%, with a trading volume of 701,400 shares and a transaction value of 2.653 billion yuan [1] - Other notable performers included Jiuding New Materials (002201) with a 4.30% increase, and Zais Technology (603601) with a 3.77% increase [1] - The stocks of China Jushi (600176) and Sanxia New Materials (600293) showed minimal changes, with increases of 0.30% and 0.00% respectively [1] Capital Flow Analysis - The glass fiber sector experienced a net outflow of 17.9427 million yuan from institutional investors, while retail investors saw a net inflow of 12.2 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors increased their positions [2] Detailed Capital Flow by Stock - Zais Technology (603601) had a net inflow of 125 million yuan from institutional investors, but a net outflow of 54.6421 million yuan from speculative funds [3] - China Jushi (600176) saw a net inflow of 60.8422 million yuan from institutional investors, while retail investors had a net outflow of 75.5654 million yuan [3] - Jiuding New Materials (002201) experienced a net inflow of 43.7267 million yuan from institutional investors, but a net outflow from both speculative and retail investors [3]

Investment Rating - The report maintains a positive outlook on the building materials sector, highlighting potential opportunities in both "grouping" and "switching" strategies within the industry [2][11]. Core Insights - The building materials market is experiencing a shift in focus, with technology stocks gaining momentum while the building materials sector presents viable options for investment [2]. - The report emphasizes the importance of monitoring production capacity and quality improvements in key segments such as electronic fabrics and Q fabrics, which are expected to see increased demand due to advancements in AI and PCB technologies [3][4]. - The report identifies a growing confidence in infrastructure projects in regions like Xinjiang and Tibet, driven by government investments and the necessity of transportation infrastructure [11][12]. - The consumer building materials segment is showing signs of recovery, with expectations of improved revenue performance as the market stabilizes [24][25]. Summary by Sections Grouping in Building Materials - The electronic fabric sector is expected to maintain its performance, with leading companies like Zhongcai Technology reporting strong sales and production growth [3]. - The AI industry's production expectations are advancing, with key suppliers anticipating increased output of Q fabrics by the end of the year [4]. - The report highlights the importance of monitoring the production capacity and quality of Q fabrics, which will determine the actual supply capabilities of companies [4]. Switching in Building Materials - Infrastructure projects in Xinjiang and Tibet are gaining traction, with significant government backing and a strong demand for cement due to the region's unique geographical advantages [11][12]. - The consumer building materials sector is entering a recovery phase, with sales and construction data indicating a bottoming out of the market [13][14]. - The report notes that the cement industry is poised for potential growth, driven by policy improvements and governance enhancements [15][29]. Cement Industry - The cement sector is entering a peak season, but market performance remains subdued due to high comparative bases from the previous year [29][30]. - The report emphasizes the importance of policy measures to limit overproduction in the cement industry, which could enhance profitability [30][33]. - Companies like Conch Cement and Huaxin Cement are highlighted for their strong cash flow and potential for shareholder returns [34][38]. Glass Industry - The float glass market is experiencing price stabilization, with environmental regulations expected to impact production costs [40][41]. - The report indicates that the glass industry is facing cash flow challenges, with many companies operating at a loss [42]. - Companies like Xinyi Glass are expected to maintain competitive positions despite market pressures, with a focus on improving operational efficiency [43]. Photovoltaic Glass - The photovoltaic glass segment is seeing a decline in inventory levels, with prices remaining stable amid increased demand from downstream component manufacturers [48]. - The report notes that while domestic prices are under pressure, overseas markets are performing better, which could benefit leading companies in the sector [49]. Fiberglass - The fiberglass market is characterized by a divergence in production and sales, with electronic fabrics maintaining a favorable outlook [50].

Investment Rating - The report maintains an "Overweight" rating for the construction materials sector [4]. Core Viewpoints - The construction materials sector is experiencing weak demand due to the real estate market, but there are expectations for more supportive policies to stabilize the industry [2]. - The report highlights a significant increase in local government bond issuance, which is expected to alleviate fiscal pressure and potentially accelerate municipal projects [2]. - The supply-demand imbalance in the float glass market is anticipated to ease as photovoltaic glass manufacturers begin self-regulated production cuts [2]. - The report recommends focusing on consumer building materials, which are expected to benefit from favorable second-hand housing transactions and consumption stimulus policies [2]. - Cement production is being adjusted through staggered shutdowns, with a focus on improving supply-side conditions [2]. - The fiberglass market is showing signs of recovery, particularly with increasing demand from the wind power sector [2]. Summary by Sections Cement Industry Tracking - As of August 22, 2025, the national cement price index is 341.46 CNY/ton, with a week-on-week increase of 1.7% [3]. - The national cement output reached 2.6815 million tons, up 2.82% from the previous week [3]. - The cement market is characterized by weak demand, high inventory, and low prices, with expectations for continued weakness in the coming week [18]. Glass Industry Tracking - The average price of float glass is 1205.78 CNY/ton, reflecting a week-on-week decline of 2.42% [3]. - Inventory levels for float glass are increasing, indicating pressure on manufacturers [3]. Fiberglass Industry Tracking - The price of non-alkali fiberglass remains stable, with slight improvements in demand observed in certain areas [6]. - The report notes that the demand for electronic fiberglass is strong, particularly for high-end products [6]. Consumer Building Materials - The demand for consumer building materials is showing signs of weak recovery, with fluctuations in raw material prices [6]. Carbon Fiber Industry Tracking - The carbon fiber market remains stable, with production costs reported at 106,700 CNY/ton and a negative gross margin [7]. - Import and export data for carbon fiber indicate a net import of 444.33 tons in July 2025 [7].