证券代码：601058 证券简称：赛轮轮胎 公告编号：2025-084 召开的日期时间：2025 年 12 月 19 日 14 点 30 分 召开地点：青岛市郑州路 43 号橡塑新材料大楼 (五) 网络投票的系统、起止日期和投票时间。 赛轮集团股份有限公司 关于召开2025年第二次临时股东大会的通知 重要内容提示： 一、 召开会议的基本情况 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。 (一) 股东大会类型和届次 2025年第二次临时股东大会 股东大会召开日期：2025年12月19日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 (四) 现场会议召开的日期、时间和地点 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 12 月 19 日 至2025 年 12 月 19 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的 ...

证券代码：601058 证券简称：赛轮轮胎 公告编号：临 2025-076 为进一步完善公司治理结构，提升规范运作水平，保护投资者合法权益，根 据《公司法》、中国证监会《关于新<公司法>配套制度规则实施相关过渡期安排》 《上市公司章程指引》《上市公司治理准则》及上海证券交易所《股票上市规则》 等相关法律法规要求，公司拟不再设置监事会，《公司法》规定的监事会职权将 由公司董事会审计委员会行使。自股东大会审议通过《关于取消监事会并修订< 公司章程>的议案》之日起，公司取消监事会，相应废止《监事会议事规则》， 并对现行《公司章程》同步修订。 表决结果：同意 3 票，反对 0 票，弃权 0 票，表决通过。 本议案尚需提交公司 2025 年第二次临时股东大会审议。 2、《关于使用自有资金进行投资理财的议案》 表决结果：同意 3 票，反对 0 票，弃权 0 票，表决通过。 3、《关于开展外汇套期保值业务的议案》 赛轮集团股份有限公司 第六届监事会第十七次会议决议公告 表决结果：同意 3 票，反对 0 票，弃权 0 票，表决通过。 本公司监事会及全体监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 ...

证券代码：601058 证券简称：赛轮轮胎 公告编号：临 2025-075 赛轮集团股份有限公司 第六届董事会第三十次会议决议公告 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。 赛轮集团股份有限公司（以下简称"公司"）于 2025 年 12 月 3 日上午在公 司会议室以现场加通讯方式召开第六届董事会第三十次会议。本次会议通知于 2025 年 11 月 30 日以电子邮件方式送达全体董事。会议应到董事 7 人，实到董 事 7 人（其中以通讯表决方式出席 2 人）。会议由董事长刘燕华女士主持，公司 总裁及监事列席了会议。会议的召集和召开符合《中华人民共和国公司法》（以 下简称《公司法》）及《公司章程》的有关规定。经与会董事审议并表决，通过 了以下议案： 1、《关于取消监事会并修订<公司章程>的议案》 为进一步完善公司治理结构，提升规范运作水平，保护投资者合法权益，根 据《公司法》、中国证监会《关于新<公司法>配套制度规则实施相关过渡期安排》 《上市公司章程指引》《上市公司治理准则》及《上海证券交易所股票上市规则》 等相关法律法 ...

赛轮轮胎公告，公司拟投资建设"柬埔寨贡布经济特区项目"，目前已完成大部分项目规划土地的租赁工 作。为更好地满足全球化战略发展需要及优化供应链体系，公司拟投资建设"柬埔寨贡布经济特区项目 （二期）"，项目投资总额1.52亿美元，由公司在柬埔寨设立的全资子公司KAMPOT BAYINVESTMENT CO.，LTD.（简称"贡布湾投资"）负责实施。 ...

Group 1 - The core viewpoint of the news is that Sailun Tire's stock has shown significant performance, with a year-to-date increase of 19.64% and a recent rise of 5.30% over the last five trading days [1] - As of December 3, Sailun Tire's stock price is 16.69 yuan per share, with a market capitalization of 54.878 billion yuan and a trading volume of 2.45 billion yuan [1] - The company has experienced a net inflow of main funds amounting to 1.2386 million yuan, with large orders contributing to 20.24% of total buying [1] Group 2 - Sailun Tire operates in the automotive sector, specifically in the tire and wheel components industry, and is associated with various concepts including Qingdao, tire, margin financing, and NIO automotive concepts [2] - For the period from January to September 2025, Sailun Tire reported a revenue of 27.587 billion yuan, reflecting a year-on-year growth of 16.76%, while the net profit attributable to shareholders decreased by 11.47% to 2.872 billion yuan [2] - The company has distributed a total of 4.758 billion yuan in dividends since its A-share listing, with 2.758 billion yuan distributed in the last three years [3] Group 3 - As of September 30, 2025, the number of shareholders for Sailun Tire is 47,400, which is a decrease of 28.33% from the previous period, while the average circulating shares per person increased by 39.52% to 69,417 shares [2] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 127 million shares, a decrease of 15.1469 million shares from the previous period [3] - New entrants among the top ten shareholders include E Fund CSI 300 ETF, which holds 32.3755 million shares [3]

Quantitative Models and Construction Methods - **Model Name**: "Kaiyuan Quantitative Engineering Preferred Gold Stock Portfolio" **Model Construction Idea**: The model is based on the observation that newly introduced stocks outperform repeated stocks. It incorporates the "SUE factor" (Surprise Earnings Factor), which demonstrates superior stock selection ability within newly introduced stocks[25] **Model Construction Process**: 1. Select the top 30 newly introduced stocks with the highest earnings surprise (SUE factor) 2. Weight the portfolio based on the number of recommendations by brokers 3. Construct the portfolio using these weighted stocks[25] **Model Evaluation**: The model demonstrates better performance compared to the overall gold stock portfolio, with higher annualized returns and lower maximum drawdowns[25][27] Model Backtesting Results - **Kaiyuan Quantitative Engineering Preferred Gold Stock Portfolio**: - November return: -0.2% - 2025 YTD return: 45.1% - Annualized return: 22.5% - Annualized volatility: 25.3% - Return-to-volatility ratio: 0.89 - Maximum drawdown: 24.6%[27][28] - **Overall Gold Stock Portfolio**: - November return: -3.4% - 2025 YTD return: 32.2% - Annualized return: 13.2% - Annualized volatility: 23.5% - Return-to-volatility ratio: 0.56 - Maximum drawdown: 42.6%[23][27] - **CSI 300 Index**: - November return: -2.5% - 2025 YTD return: 15.0% - Annualized return: 3.3% - Annualized volatility: 21.1% - Return-to-volatility ratio: 0.16 - Maximum drawdown: 40.6%[23][27] - **CSI 500 Index**: - November return: -4.1% - 2025 YTD return: 22.8% - Annualized return: 1.2% - Annualized volatility: 23.8% - Return-to-volatility ratio: 0.05 - Maximum drawdown: 37.5%[23][27] Quantitative Factors and Construction Methods - **Factor Name**: Surprise Earnings Factor (SUE Factor) **Factor Construction Idea**: The factor captures stocks with earnings that significantly exceed market expectations, which are likely to outperform in the short term[25] **Factor Construction Process**: 1. Calculate the earnings surprise for each stock as the difference between reported earnings and consensus estimates 2. Rank stocks based on their earnings surprise values 3. Select the top-ranked stocks for portfolio inclusion[25] **Factor Evaluation**: The SUE factor demonstrates strong stock selection ability, particularly within newly introduced stocks, and contributes to the superior performance of the preferred gold stock portfolio[25] Factor Backtesting Results - **SUE Factor**: - Incorporated into the preferred gold stock portfolio, contributing to its annualized return of 22.5% and return-to-volatility ratio of 0.89[25][27]

Group 1 - The A-share market experienced a significant adjustment in November 2025, with high valuation growth stocks undergoing notable corrections while value and dividend stocks showed relative resilience [2][17] - Economic data for November indicated a weak recovery in investment and consumption, with exports declining due to high base effects and holiday impacts. However, CPI growth turned positive, and PPI declines narrowed, suggesting a mild recovery in prices [2][17] - The central bank's report emphasized maintaining relatively loose social financing conditions to support "steady growth," alongside various policies aimed at stimulating domestic demand and private investment [2][17] Group 2 - For December 2025, a balanced investment strategy is recommended, focusing on high-dividend defensive assets like banks and power companies due to cautious investor sentiment, while also gradually positioning in high-growth sectors like TMT and industrial machinery as valuations have returned to reasonable levels [3][18] - The recommended stocks for December 2025 include: 002850.SZ Keda Li, 300037.SZ Xinzhou Bang, 601058.SH Sailun Tire, 603755.SH Richen Co., 300442.SZ Runze Technology, 002046.SZ Guoji Precision, 002714.SZ Muyuan Foods, 688041.SH Haiguang Information, 688498.SH Yuanjie Technology, and 688313.SH Shijia Photon [4][22] Group 3 - The monthly gold stock portfolio for November 2025 yielded a return of -2.16%, outperforming the CSI 300 index by 0.21 percentage points and the ChiNext index by 1.82 percentage points [6][9] - The cumulative return of the monthly gold stock portfolio as of November 28, 2025, was 42.86%, surpassing the CSI 300 index by 27.73 percentage points, while slightly underperforming the ChiNext index by 0.01 percentage points [13]

Investment Rating - The report maintains a "Recommended" rating for the chemical industry [1] Core Insights - The chemical industry is expected to benefit from a shift in supply chain dynamics due to geopolitical tensions, particularly in semiconductor materials, leading to accelerated domestic replacements [5][6] - The chromium salt industry is experiencing a value reassessment driven by increased demand from AI data centers and commercial aircraft engines, with significant price increases noted [8][9] - The report highlights a potential upturn in the chemical industry as supply-side constraints and rising demand could enhance profitability and dividend yields for leading companies [6][10] Summary by Sections Industry Performance - The basic chemical sector has shown a 24.0% increase over the past 12 months, outperforming the CSI 300 index, which increased by 16.9% [3] Key Opportunities - Focus on low-cost expansion opportunities in companies such as Wanhua Chemical and Hualu Hengsheng, as well as sectors like tire manufacturing and pesticide formulations [6][9] - Emphasis on sectors with improving market conditions, including chromium salts, phosphate rock, and polyester filament [9][10] Price Trends - Recent price increases for key products include chromium oxide green at 35,500 CNY/ton and metallic chromium at 84,000 CNY/ton, both up by 1,000 CNY/ton from the previous week [8][16] - The report notes a tightening supply for isooctanol, with prices rising due to increased demand and production disruptions [13] Company Focus - The report identifies several key companies for investment, including Dongfang Shenghong, Hubei Yihua, and Wanhua Chemical, with positive earnings forecasts and attractive price-to-earnings ratios [28]

Investment Rating - The report maintains a "Recommended" rating for the chemical industry [1] Core Views - The chemical industry is expected to benefit from the ongoing "anti-involution" measures, which may lead to a significant slowdown in global chemical capacity expansion. This shift is anticipated to enhance cash flow and dividend yields for companies in the sector, transforming them from cash-consuming entities to cash-generating ones [7][27] - The report highlights the potential for domestic substitutes for Japanese semiconductor materials due to rising tensions in Sino-Japanese relations, which could accelerate the domestic market's growth in this area [6] Summary by Sections Recent Trends - The chemical industry has shown a relative performance increase of 16.1% over the past 12 months, outperforming the CSI 300 index, which increased by 11.6% [4] Key Price Movements - DMC (Dimethyl Carbonate) prices rose to 4400 CNY/ton, up 14.29% week-on-week, driven by strong demand from the electrolyte sector [14] - Lithium battery electrolyte prices increased to 27000 CNY/ton, up 8.00% week-on-week, although profit margins for manufacturers are under pressure due to rising raw material costs [14] - Diammonium phosphate prices in East China reached 3850 CNY/ton, up 5.48% week-on-week, amid rising production costs [14] Investment Opportunities - The report identifies four key opportunities in the chemical sector: 1. Low-cost expansion, focusing on companies like Wanhua Chemical and Hualu Hengsheng [9] 2. Improved industry conditions, particularly in chromium salts and phosphate rock [10] 3. New materials with high growth potential, such as electronic chemicals and aerospace materials [11] 4. High dividend yields from state-owned enterprises in the chemical sector, including China Petroleum and China National Chemical [11] Company Tracking and Earnings Forecast - The report provides a detailed earnings forecast for key companies, indicating a positive outlook for several firms in the chemical sector, with many rated as "Buy" [28]

Core Insights - The tire industry is experiencing a significant shift as companies move operations to Southeast Asia, particularly Cambodia, Thailand, and Vietnam, due to favorable conditions for growth [1][2] - Southeast Asia produces nearly 70% of the world's natural rubber, with Thailand, Indonesia, and Vietnam being the top three producers, while Cambodia is emerging as a new growth hub [1] - Chinese tire manufacturers are establishing factories in Southeast Asia to circumvent tariffs imposed by Western countries, leading to a collaborative industrial ecosystem [1][2] Group 1: Industry Growth and Trends - Cambodia's tire export value is projected to reach $870 million in 2024, representing a 129% year-on-year increase [1] - The collaboration between Chinese companies and Southeast Asian nations is transforming the region from raw material suppliers to product manufacturers [2] - The establishment of Chinese factories in Cambodia is stabilizing the demand for local rubber, benefiting both local farmers and the manufacturing sector [1] Group 2: Infrastructure and Investment - Cambodia plans to invest $1 billion to expand the Sihanoukville port by 2029, enhancing infrastructure for the growing industry [2] - Over 20 energy projects are currently under construction in Southeast Asia, supporting the industrial growth [2] - Local employment is increasing, with over 90% of workers in the General Tire factory being local employees, indicating a shift in workforce dynamics [2] Group 3: Future Prospects - The collaboration is expected to extend beyond rubber and tires into automotive parts, green plastics, and bio-based rubber, creating a more sustainable industrial ecosystem [2] - China's imports of rubber from ASEAN countries increased by 40.7% in the first three quarters of the year, while exports of tires and automotive parts grew by 19.8% [2] - The signing of the upgraded China-ASEAN Free Trade Area 3.0 agreement will further deepen the integration of supply chains between China and ASEAN countries [2]