Group 1 - The company is currently benchmarking against leading peers to enhance efficiency and effectiveness across all operational aspects, including R&D, manufacturing, marketing, procurement, and services [1] - The company aims to improve profitability continuously while balancing global production locations and business operations to enhance market competitiveness and risk resilience [1] - The company is committed to improving its market value management through governance, information disclosure, investor relations management, ESG system development, and stable dividends to reward investors with long-term performance [1]

Core Viewpoint - Linglong Tire is actively progressing its DVA project in collaboration with Daon Co., currently in the road testing evaluation phase [1] Group 1 - Linglong Tire is engaged in a partnership with Daon Co. for the DVA project [1] - The project is currently at the road testing evaluation stage [1]

Group 1 - The controlling shareholder, Linglong Group, holds 596,644,122 shares of the company, accounting for 40.77% of the total share capital. Recently, 31,600,000 shares were released from pledge, leaving 145,400,000 shares pledged, which represents 24.37% of Linglong Group's total holdings and 9.94% of the company's total share capital [2][3] - Linglong Group and its concerted parties collectively hold 799,169,922 shares, representing 54.61% of the total share capital. After the release of the pledged shares, the total pledged shares amount to 145,400,000, which is 18.19% of their total holdings and 9.94% of the company's total share capital [2][3] Group 2 - The company received a notification from Linglong Group regarding the release of part of the shares previously pledged to Yunnan International Trust Co., Ltd. The decision on whether to pledge shares again will depend on Linglong Group's funding needs [3] - As of the announcement date, the cumulative pledged shares of the shareholders and their concerted parties are detailed, indicating the current status of share pledges [4]

Core Viewpoint - Linglong Tire announced that its controlling shareholder, Linglong Group, holds 596,644,122 shares, representing 40.77% of the company's total equity [2] Group 1 - Linglong Group has pledged 31,600,000 shares in this announcement [2] - The remaining pledged shares amount to 145,400,000, which constitutes 24.37% of Linglong Group's total holdings and 9.94% of the company's total equity [2]

证券代码：601966 证券简称：玲珑轮胎 公告编号：2025-079 山东玲珑轮胎股份有限公司 关于控股股东部分股份解质押的公告 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个别及连带责任。 重要内容提示： 玲珑集团及其一致行动人，合计持有公司股份 799,169,922 股， 占公司总股本的 54.61%，本次股份解除质押后，累计被质押股份 145,400,000 股，占其所持股份总数的 18.19%，占公司总股本的 9.94%。 一、解除质押情况 公司于近日收到公司控股股东玲珑集团的通知，玲珑集团将原质 押给云南国际信托有限公司的公司部分股份解除了质押，具体情况如 下： | 股东名称 | 玲珑集团有限公司 | | --- | --- | | 本次解质股份 | 31,600,000 股 | 1 | 占其所持股份比例 | 5.30% | | --- | --- | | 占公司总股本比例 | 2.16% | | 解除质押时间 | 2025 年 11 月 28 日 | | 持股数量 | 596,644,122 股 | | 持股比例 | ...

Core Viewpoint - Linglong Tire announced that its controlling shareholder, Linglong Group, will release the pledge of 31.6 million shares on November 28, 2025, which accounts for 5.30% of its holdings and 2.16% of the company's total share capital [1] Summary by Relevant Categories Shareholding Structure - Linglong Group holds a total of 596,644,122 shares in the company, representing 40.77% of the total share capital [1] - After the release of the pledge, Linglong Group will have 145,400,000 shares pledged, which is 24.37% of its total holdings and 9.94% of the company's total share capital [1] - Linglong Group and its concerted parties collectively hold 54.61% of the total share capital [1] Pledged Shares - Following the release of the pledge, the cumulative pledged shares will account for 18.19% of Linglong Group's total holdings and 9.94% of the company's total share capital [1]

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]

Core Viewpoint - Linglong Tire is currently in the process of regulatory review for its Hong Kong listing project, which is under the supervision of the China Securities Regulatory Commission (CSRC) [2] Company Summary - Linglong Tire has confirmed that its Hong Kong listing project is undergoing the filing and review stage with the CSRC [2]

Core Viewpoint - Linglong Tire is advancing its globalization strategy while optimizing its debt structure and reducing financial costs through the use of financial tools based on operational conditions and market environments [1] Group 1: Financial Strategy - The company aims to enhance the efficiency of fund utilization through refined management and monitoring [1] - It plans to strengthen its financial structure by leveraging financial tools to lower costs [1] Group 2: Operational Improvement - Linglong Tire is focused on technological innovation and optimizing production processes to increase product added value and profitability [1] - The company is committed to ensuring healthy and stable development [1]

Core Points - The controlling shareholder, Linglong Group, holds 596,644,122 shares of Shandong Linglong Tire Co., Ltd., accounting for 40.77% of the total share capital [1] - Linglong Group has pledged a total of 177,000,000 shares, which is 29.67% of its holdings and 12.09% of the company's total share capital [1] - The funds from the share pledge will be used to meet the daily operational funding needs of the controlling shareholder [1] - The controlling shareholder has a good credit status and repayment capability [1] - The share pledge will not adversely affect the company's main business or operational capabilities [2] - The risk associated with the share pledge is controllable and will not lead to a change in the actual control of the company [2]