山东省药用玻璃股份有限公司第十一届董事会第三次会议通知 于2025年10月10日以书面结合通讯的方式向全体董事发出,会议于 2025年10月25日上午8:30,在公司研发大楼六楼会议室以现场结合通 讯方式召开,会议应到董事9名,实到董事7名,陈刚董事、顾维军董 事以通讯方式表决。本次会议由董事长扈永刚先生召集和主持,会议 程序符合《公司法》和《公司章程》的有关规定。 一、董事会会议召开情况 山东省药用玻璃股份有限公司 第十一届董事会第三次会议决议 二、董事会会议审议情况 3 h 3 扈永刚 年 张 陈 刚 张大刚 王兴军 冯加友 顾维军 孙宗彬 陈茂鑫 山东省药用玻 20 公司全体董事审议通过了《公司2025年第三季度报告》。 董事会认为:公司编制的《2025年第三季度》的编制程序符合法 律、法规和中国证监会的有关规定,报告内容真实、准确、完整地反 映了公司2025年第三季度财务状况和经营情况,不存在虚假记载、误 导性陈述或重大遗漏。 本议案已经公司第十一届董事会审计委员会2025年第五次会议 the first and 全票审议通过并提交董事会审议。 表决结果:同意9票,反对0票,弃权0票。 特此决议。 山 ...

本公司董事会及全体董事保证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个别及连带责任。 第一部分：董事会会议召开情况 山东省药用玻璃股份有限公司（以下简称"公司"或"山东药玻"） 第十一届董事会第三次会议通知于2025年10月10日以书面结合通讯 方式送达全体董事。会议于2025年10月25日上午，在公司研发大楼六 楼会议室以现场结合通讯方式召开，会议应到董事9名，现场实到董 事7名, 2名董事以通讯方式进行表决，董事会秘书、财务负责人列席 会议。 本次会议由董事长召集和主持，会议程序符合《公司法》和《公 司章程》等有关规定。 证券代码：600529 证券简称：山东药玻 编号：2025-057 山东省药用玻璃股份有限公司 第十一届董事会第三次会议决议公告 第二部分：董事会会议审议情况 本次会议由董事长主持，以记名投票方式审议《公司2025年第三 季度报告》议案，本议案已经公司第十一届董事会审计委员会2025 年第五次会议全票审议通过并提交董事会审议。 董事会审议通过了本议案，认为公司编制的《2025年第三季度报 告》的编制程序符合法律、法规和中国证监会的有关规定 ...

山东省药用玻璃股份有限公司 2025 年第三季度报告 证券代码：600529 证券简称：山东药玻 山东省药用玻璃股份有限公司 2025 年第三季度报告 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： 公司董事会及董事、高级管理人员保证季度报告内容的真实、准确、完整，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。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 单位：元 币种：人民币 | | | 本报告期比 | | 年初至报告期 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期增 | 年初至报告期末 | 末比上年同期 | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 1,026,672,087.39 | -17.14 | 3,4 ...

Core Insights - The company reported a revenue of 1.027 billion yuan for Q3 2025, representing a year-on-year decline of 17.14% [1] - The net profit for Q3 2025 was 171 million yuan, down 30.15% year-on-year [1] - For the first three quarters of 2025, the total revenue was 3.401 billion yuan, reflecting an 11.10% decrease compared to the same period last year [1] - The net profit for the first three quarters was 542 million yuan, which is a decline of 24.70% year-on-year [1]

Core Viewpoint - Shandong Pharmaceutical Glass reported a decline in both revenue and net profit for the third quarter of 2025, indicating challenges in the company's financial performance compared to the previous year [1] Financial Performance - In Q3 2025, the company achieved a revenue of 1.027 billion yuan, a year-on-year decrease of 17.14% [1] - The net profit attributable to shareholders was 171 million yuan, down 30.15% year-on-year [1] - Basic earnings per share for Q3 2025 were 0.2581 yuan [1] - For the first three quarters of 2025, total revenue reached 3.401 billion yuan, reflecting an 11.10% decline compared to the same period last year [1] - The net profit attributable to shareholders for the first three quarters was 542 million yuan, a decrease of 24.70% year-on-year [1] - Basic earnings per share for the first three quarters were 0.8174 yuan [1]

Core Insights - The company reported a revenue of 1.027 billion yuan for the third quarter, representing a decline of 17.14% [1] - The net profit for the third quarter was 171 million yuan, down 30.15% [1] - For the first three quarters, the total revenue was 3.401 billion yuan, a decrease of 11.10% [1] - The net profit for the first three quarters was 542 million yuan, reflecting a decline of 24.70% [1]

Investment Rating - The industry rating is "Outperform the Market" (maintained rating) [5] Core Insights - Infrastructure investment showed weakness in September, but the fourth quarter may benefit from increased funding and policy catalysts. The report highlights the importance of infrastructure as a stabilizing measure for the economy, with a focus on undervalued, high-dividend construction stocks [1][2] - The real estate sector saw a decline in sales area by 5.5% year-on-year from January to September, with a significant drop of 21.3% in September alone. However, the completion rate for real estate projects turned positive for the first time since 2024, indicating a potential recovery [2] - Cement demand is gradually weakening, with a production drop of 5.2% year-on-year from January to September. The report suggests that cement companies may seek to optimize supply and increase prices to recover profitability [3] - The flat glass market showed signs of improvement in September, with a slight increase in demand. However, overall production still declined by 5.2% year-on-year, and inventory levels have risen significantly [4] Summary by Sections Infrastructure Investment - Infrastructure investment from January to September showed a year-on-year increase of 1.1%, but September alone saw a decline of 4.7%. The report anticipates a recovery in the fourth quarter due to early fiscal funding and new policy financial tools [1][2] Real Estate Sector - Real estate sales area decreased by 5.5% year-on-year from January to September, with a notable drop of 11.9% in September. New construction area fell by 18.9% year-on-year, while completion area saw a slight increase in September, marking the first positive growth since 2024 [2] Cement Industry - Cement production from January to September was 1.259 billion tons, down 5.2% year-on-year. The average shipment rate was 41.3%, a decrease of 2.6 percentage points year-on-year. The report indicates that cement companies are likely to push for price increases to enhance profitability [3] Glass Industry - Flat glass production from January to September was 72.881 million weight cases, down 5.2% year-on-year. The report notes a slight improvement in demand in September, but overall inventory levels have increased significantly, indicating potential challenges ahead [4]

Core Viewpoint - The glass processing industry in China is experiencing a decline in production, particularly in hollow glass, with significant year-on-year decreases reported for early 2025 [1] Industry Summary - According to the National Bureau of Statistics, the production of hollow glass in China for April 2025 was 0.1 million square meters, representing a year-on-year decrease of 6.8% [1] - Cumulatively, from January to April 2025, the total production of hollow glass reached 0.4 million square meters, marking a decline of 5.1% compared to the same period in the previous year [1] - The report by Zhiyan Consulting provides an in-depth analysis and investment outlook for the glass processing industry in China from 2025 to 2031 [1] Company Summary - Listed companies in the glass processing sector include Qibin Group (601636), Nanshan Glass A (000012), Fuyao Glass (600660), Jinjing Technology (600586), Kaisheng New Energy (600876), Yaopi Glass (600819), Shandong Pharmaceutical Glass (600529), and Yamaton (002623) [1]

Investment Rating - The investment rating for the building materials industry is "Positive" (maintained) [1] Core Viewpoints - The Ministry of Housing and Urban-Rural Development has emphasized deepening reforms in the construction industry, focusing on industrialization, digitalization, and greening as development paths. This aims to transition the construction industry from a traditional extensive model to a refined and intelligent one, with key measures including the promotion of prefabricated buildings and the application of construction robots. The ultimate goal is to achieve high-quality development and enhance the quality, efficiency, and sustainability of "Chinese construction" [1] - The report highlights the long-term investment value of the building materials sector, particularly in green building materials and intelligent construction, which are expected to open new growth spaces due to the profound changes driven by the "three transformations" [1] - Recommended stocks in the consumer building materials sector include: Sankeshu (channel penetration, retail expansion), Dongfang Yuhong (waterproof leader, optimized operational structure), Weixing New Materials (high-quality operations, high retail business proportion), and Jianlang Hardware. Beneficiary stocks include: Beixin Building Materials (gypsum board leader, diversified expansion in coatings and waterproof sectors) [1] Summary by Sections Market Overview - The building materials index increased by 2.66% from October 6 to October 10, 2025, outperforming the CSI 300 index by 3.18 percentage points. Over the past three months, the CSI 300 index rose by 14.91%, while the building materials index increased by 14.73%, indicating a slight underperformance of 0.18 percentage points. In the past year, the CSI 300 index rose by 16.55%, and the building materials index increased by 21.26%, outperforming the CSI 300 index by 4.71 percentage points [2][11] Cement Sector - As of October 10, 2025, the average price of P.O42.5 bulk cement nationwide was 287.21 yuan/ton, a decrease of 0.26% month-on-month. The price trends varied by region, with increases in Northeast (+0.60%) and Central China (+1.32%), while declines were noted in North China (-1.09%) and East China (-1.57%) [22][25] - The clinker inventory ratio was stable at 67.40% [23] - The report tracks the valuation of listed companies in the cement sector, indicating a need for monitoring [72] Glass Sector - The average spot price of float glass as of October 10, 2025, was 1301.65 yuan/ton, reflecting a week-on-week increase of 0.72%. However, the futures price decreased by 2.86% [76][77] - National float glass inventory increased by 696 million weight boxes, a rise of 13.71% [78][79] Fiberglass Sector - The market price for non-alkali 2400tex direct yarn ranged from 3400 to 4000 yuan/ton, with variations depending on the manufacturer [4] Consumer Building Materials - As of October 10, 2025, the price of crude oil was 65.05 USD/barrel, down 3.59% week-on-week. The price of asphalt remained stable at 4570 yuan/ton, while acrylic acid and titanium dioxide prices showed slight declines [4]

证券代码：600529 证券简称：山东药玻 编号：2025-056 山东省药用玻璃股份有限公司 公司于 2025 年 10 月 9 日收到鲁中投资转来的《中国证券登记结算有 限责任公司解除证券质押登记通知》，获悉其将所持有的公司部分股份办理 了解除质押。本次解除质押股份分别是 2024 年 11 月 18 日和 2025 年 5 月 9 日质押给渤海银行股份有限公司淄博分行的 5,300,000 股和 7,000,000 股， 本次合计解除质押股份 12,300,000 股。 具体事项如下： | 股东名称 | 山东鲁中投资有限责任公司 | | --- | --- | | 本次解质股份（股） | 12,300,000 | | 占其所持股份比例 | 9.51% | | 占公司总股本比例 | 1.85% | | 解质时间 | 2025 年 9 月 30 日 | | 持股数量（股） | 129,380,980 | | 持股比例 | 19.50% | 1 | 剩余被质押股份数量（股） | 7,300,000 | | --- | --- | | 剩余被质押股份数量占其所持股份比例 | 5.64% | | 剩余被质押股份数 ...