| 证券代码：600370 | 证券简称：三房巷 | 公告编号：2026-006 | | --- | --- | --- | | 转债代码：110092 | 转债简称：三房转债 | | 江苏三房巷聚材股份有限公司 关于控股股东部分股份解除质押及再质押、 一致行动人股份解除质押的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 江苏三房巷聚材股份有限公司（以下简称"公司"）控股股东三房巷集团 有限公司（以下简称"三房巷集团"）持有公司股份数量为2,967,261,031股，占公 司总股本的76.15%。本次解除质押及再质押后，三房巷集团累计质押股份数量为 2,349,049,900股，占其所持有公司股份总数的79.17%，占公司总股本的60.28%。 三房巷集团一致行动人江苏三房巷国际贸易有限公司（以下简称"三房巷 国贸"）持有公司股份数量为200,194,552股，占公司总股本的5.14%。本次解除质 押后，三房巷国贸无被质押股份。 截至本公告披露日，三房巷集团累计已质押股份数占三房巷集团及三房 巷国贸所持 ...

华兴证券有限公司 关于江苏三房巷聚材股份有限公司 公开发行可转换公司债券 2026年第一次临时受托管理事务报告 债券受托管理人 （上海市虹口区东大名路1089号2301单元） 2026 年 1 月 重要声明 本报告依据《公司债券发行与交易管理办法》《公司债券受托管理人执业行 为准则》《可转换公司债券管理办法》的相关规定以及《江苏三房巷聚材股份有 限公司公开发行可转换公司债券受托管理协议》（以下简称"《受托管理协议》"）、 《江苏三房巷聚材股份有限公司公开发行可转换公司债券募集说明书》（以下简 称"《募集说明书》"）等，由本次可转债受托管理人华兴证券有限公司（以下简 称"华兴证券"）编制。 本报告不构成对投资者进行或不进行某项行为的推荐意见，投资者应对相关 事宜做出独立判断，而不应将本报告中的任何内容据以作为华兴证券所作的承诺 或声明。在任何情况下，投资者依据本报告所进行的任何作为或不作为，华兴证 券不承担任何责任。 经中国证券监督管理委员会《关于核准江苏三房巷聚材股份有限公司公开发 行可转换公司债券的批复》（证监许可〔2022〕2933 号）核准，公司于 2023 年 1 月 6 日公开发行了 250 万手可 ...

Core Viewpoint - The announcement from Sanfangxiang indicates significant changes in share pledges by its controlling shareholder, Sanfangxiang Group, which may affect the company's financial leverage but is stated to have no major impact on the company overall [1] Group 1: Share Pledge Changes - On January 22, 2026, Sanfangxiang Group will release a pledge of 1.118 billion shares and re-pledge 500 million shares [1] - Sanfangxiang Guotai, an associated party, will release a pledge of 200 million shares [1] Group 2: Shareholding Structure - As of the announcement date, Sanfangxiang Group holds 76.15% of the company's shares, with a total of 2.349 billion shares pledged, which represents 79.17% of its holdings and 60.28% of the total share capital [1] - Sanfangxiang Guotai holds 5.14% of the shares with no pledged shares [1] Group 3: Upcoming Pledge Expirations - In the next six months and one year, 53.75 million shares and 219 million shares, respectively, will have their pledges expire, corresponding to financing balances of 359 million yuan and 892 million yuan [1] - The company asserts that these pledge matters will not have a significant impact on its operations [1]

Market Performance - The chemical fiber sector increased by 1.13% on January 22, with Hengshen New Materials leading the gains [1] - The Shanghai Composite Index closed at 4122.58, up 0.14%, while the Shenzhen Component Index closed at 14327.05, up 0.5% [1] Stock Highlights - Hengshen New Materials (000782) closed at 5.86, up 5.21% with a trading volume of 321,200 shares and a turnover of 187 million yuan [1] - Youcai Resources (002998) closed at 8.98, up 3.94% with a trading volume of 294,200 shares and a turnover of 263 million yuan [1] - Jilin Qigu (920077) closed at 18.60, up 3.05% with a trading volume of 144,100 shares and a turnover of 267 million yuan [1] Fund Flow Analysis - The chemical fiber sector experienced a net outflow of 2.64 million yuan from institutional investors, while retail investors saw a net inflow of 7.79 million yuan [2] - The main stocks with significant fund flows included Huafeng Chemical (002064) with a net inflow of 43.74 million yuan from institutional investors [3] - Jilin Chemical Fiber (000420) had a net inflow of 37.21 million yuan from institutional investors, indicating strong interest [3]

格隆汇1月21日丨三房巷(600370.SH)在投资者互动平台表示，公司产品瓶级聚酯切片有部分出口欧盟， 营收占比较小。公司出口方式为直接出口和通过贸易商出口。 ...

Group 1 - The core business of the company, Sanfangxiang, includes the production and sales of bottle-grade polyester chips and PTA, with supplementary operations in PBT engineering plastics and thermal power [3] - The company anticipates a significant decline in sales prices and capacity utilization rates in 2025 due to the release of new industry capacities, leading to increased competition and a decrease in gross profit [3] - Sanfangxiang has reported consecutive losses in 2023 and 2024, with net profits of -275 million yuan and -487 million yuan respectively, projecting a cumulative loss of approximately 1.52 billion to 1.60 billion yuan over three years [3] Group 2 - As of September 30, 2025, the company's asset-liability ratio reached 73.14%, significantly higher than the industry average of 39.31% [3] - Accounts receivable stood at 3.816 billion yuan, showing a year-on-year decrease of 7.59% [3] - The company's controlling shareholder has pledged a total of 2.967 billion shares, representing 100% of its holdings and 76.15% of the company's total share capital [4] Group 3 - On January 19, the company's stock price increased by 3.13%, closing at 2.64 yuan per share, with a total market capitalization of 10.29 billion yuan [5]

Summary of Key Points Core Viewpoint - The article discusses various companies' stock performance and financial forecasts, highlighting significant expected losses for several firms in 2025 and planned share buybacks or reductions by major shareholders. Group 1: Company Actions - Hongya CNC's controlling shareholder plans to increase holdings by 30 million to 60 million yuan [1] - Wuhan Tianyuan's shareholders intend to reduce their holdings by no more than 2% of the company's shares [1] Group 2: Financial Forecasts - Sanfangxiang expects a total loss of 840 million to 760 million yuan for the year 2025 [1] - Haiyou New Materials anticipates a total loss of 520 million to 440 million yuan for 2025 [1] - Hebang Bio forecasts a total loss of 570 million to 470 million yuan for 2025 [1] - Trina Solar predicts a total loss of 7.5 billion to 6.5 billion yuan for 2025 [1] Group 3: Convertible Bonds - Strong redemption announcements for Fuli Convertible Bond, Sailong Convertible Bond, and Tianjian Convertible Bond [1] - Dragon Construction Convertible Bond and Aiwei Convertible Bond are set for subscription on January 22 [1] - Various convertible bonds listed with their current prices, redemption prices, last trading dates, and conversion values [4][6]

Group 1 - Hualing Cable has terminated the acquisition of control over Hunan Xingxin Aerospace New Materials Co., Ltd. due to failure to reach agreement on specific terms, which will not adversely affect its operations or financial status [2] - Nanshan Aluminum plans to invest approximately $436.57 million to establish a 250,000-ton electrolytic aluminum project in Indonesia through its subsidiaries [3] - Wuzhou New Spring reported that its production and operational activities are normal, with no significant changes in the internal and external business environment, despite a stock price increase of over 20% [4] Group 2 - Aerospace Power clarified that its main business does not involve commercial aerospace and has no related investments, with revenue from this sector accounting for less than 2% [5] - Yidian Tianxia's stock will resume trading after completing a suspension for price volatility, with a cumulative price increase of over 100% during the suspension period [6] - Jiangxi Copper has signed a cooperation framework agreement with China Ordnance Material Group to supply cathode copper, crude copper, and electrolytic nickel, constituting a related party transaction [7] Group 3 - Dingtong Technology expects a 119.59% increase in net profit for 2025, driven by strong demand in the AI-driven communications connector market [9] - BAIC Blue Valley anticipates a net loss of between 4.35 billion and 4.65 billion yuan for 2025, despite a sales increase of 84.06% [10] - Minfeng Special Paper forecasts a 78% decrease in net profit for 2025, projecting a profit of around 1.57 million yuan [11] Group 4 - Changqing Co. expects a net loss of between 175 million and 215 million yuan for 2025 [12] - Hongbai New Materials anticipates a net loss of between 110 million and 150 million yuan for 2025, citing industry competition and increased operational costs as key factors [13] - Beiba Media projects a net loss of between 8 million and 12 million yuan for 2025, largely due to significant impairment losses from an associate company [14] Group 5 - Kuan She Co. expects a net loss of between 361 million and 433 million yuan for 2025, impacted by macroeconomic conditions and increased competition [15] - Shui Jing Fang forecasts a 71% decrease in net profit for 2025, with expected revenue dropping by 42% due to industry adjustments [17] - Haiyou New Materials anticipates a net loss of between 440 million and 520 million yuan for 2025 [18] Group 6 - Sanfangxiang expects a net loss of between 760 million and 840 million yuan for 2025, with losses increasing by 55.91% to 72.32% compared to the previous year [19] - Hongya CNC's controlling shareholder plans to increase shareholding by 30 million to 60 million yuan [21] - Top Software's shareholder plans to reduce its stake by up to 0.87% [22]

Core Viewpoint - The company Sanfangxiang (600370) expects to report a net loss attributable to shareholders of the parent company ranging from 760 million to 840 million yuan for 2025, compared to a loss of 487 million yuan in the same period last year [1] Group 1: Financial Performance - The anticipated net loss for 2025 is significantly higher than the previous year's loss, indicating a worsening financial situation for the company [1] - The company experienced a decline in gross profit due to lower sales prices of its main products and reduced capacity utilization [1] Group 2: Industry Context - The industry is facing an imbalance in supply and demand due to the continuous release of new production capacity, leading to intensified competition [1] - The processing fees remain at a low level, further contributing to the decline in the company's profitability [1] Group 3: External Factors - The company has incurred increased foreign exchange losses due to currency fluctuations, which have exacerbated the overall loss compared to the previous year [1]

报告期内，受行业新增产能持续释放影响，市场供需失衡，行业竞争加剧，公司主要产品销售价格下 降，产能利用率下降，加工费持续低位运行，毛利下降；同时，受汇率波动影响，公司汇兑损失增加， 公司整体亏损较上年同期扩大。 格隆汇1月19日丨三房巷(600370.SH)公布，经财务部门初步测算，预计2025年年度实现归属于母公司所 有者的净利润-76,000.00万元到-84,000.00万元，与上年同期（法定披露数据）相比，亏损增加55.91%到 72.32%。预计2025年年度实现归属于母公司所有者的扣除非经常性损益后的净利润-81,100.00万元 到-89,100.00万元。 ...