Core Viewpoint - Lushan New Materials (603051.SH) reported a decline in revenue and net profit for Q3 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company's operating revenue for Q3 2025 was 426 million yuan, representing a year-on-year decrease of 14.03% [1] - The net profit attributable to shareholders of the listed company was -4.25 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -7.17 million yuan [1]

重要内容提示： ●会议召开时间：2025 年 11 月 10 日（星期一）下午 15:00-16:00 ●会议召开地点：上海证券报·中国证券网（https://roadshow.cnstock. com/） 证券代码：603051 证券简称：鹿山新材 公告编号：2025-078 广州鹿山新材料股份有限公司 关于召开2025年第三季度业绩说明会的公告 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。 董事长、总经理：汪加胜先生 ●会议召开方式：网络文字互动 ●会议问题征集：投资者可于 2025 年 11 月 9 日（星期日）下午 16:00 前 将需要了解的情况和关注的问题预先发送至广州鹿山新材料股份有限公司（以 下简称"公司"）邮箱（ir@cnlushan.com）进行提问。公司将在信息披露允许 的范围内，于说明会上对投资者普遍关注的问题进行回答。 一、说明会类型 公司已于 2025 年 10 月 30 日在上海证券交易所网站（www.sse.com.cn）披 露了《广州鹿山新材料股份有限公司 2025 年第三季度报告》，为便于 ...

关于计提资产减值准备的公告 证券代码：603051 证券简称：鹿山新材 公告编号：2025-076 广州鹿山新材料股份有限公司 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 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。 根据《企业会计准则》以及公司会计政策、会计估计的有关规定，为真实、 准确地反映广州鹿山新材料股份有限公司（以下简称"公司"）2025 年 7 月 1 日至 2025 年 9 月 30 日财务状况和经营成果，公司及子公司对存在减值迹象的各 类资产进行了清查和减值测试，现将有关事项公告如下： 一、计提资产减值准备情况概述 根据《企业会计准则》以及公司会计政策、会计估计的相关规定，为了真实、 准确地反映公司 2025 年 7 月 1 日至 2025 年 9 月 30 日的财务状况，本着谨慎性 原则，公司对 2025 年 7 月 1 日至 2025 年 9 月 30 日公司及下属子公司存在减值 迹象的资产进行了减值测试，对发生资产减值损失的相关资产计提减值准备。 2025 年 7 月 1 日至 2025 年 9 月 30 日共计提信用减值损失 2,811,218. ...

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。 证券代码：603051 证券简称：鹿山新材 公告编号：2025-077 广州鹿山新材料股份有限公司 关于 2025 年第三季度主要经营数据的公告 根据上海证券交易所《上海证券交易所上市公司自律监管指引第 3 号行业信 息披露：第十三号——化工》的要求，现将广州鹿山新材料股份有限公司（以下 简称"公司"）2025 年第三季度主要经营数据披露如下： 二、2025 年第三季度公司主要产品和原材料的价格变动情况 （一）主要产品价格变动情况 2025 年第三季度，公司主要产品的价格（不含税）详见下表： | | 2024 年第三 | 2025 年第二 | 2025 年第三 | | | | --- | --- | --- | --- | --- | --- | | | 季度平均售 | 季度平均售 | 季度平均售 | 同比变动 | 环比变动比 | | 主要产品 | 价 | 价 | 价 | 比率（%） | 率（%） | | | （元/吨） | （元/吨） | （元/吨） | | | | | /(元 ...

Financial Performance - The company's operating revenue for the third quarter was ¥426,077,918, a decrease of 14.03% compared to the same period last year[5]. - The total profit for the period was a loss of ¥7,508,074.63, with a year-to-date profit of ¥7,364,559.12, reflecting a decline of 69.22%[5]. - The net profit attributable to shareholders was a loss of ¥4,252,236.39 for the quarter, down 2,625.76% year-on-year, and a year-to-date profit of ¥11,683,839.30, down 62.37%[5]. - Total operating revenue for the first three quarters of 2025 was CNY 1,167,164,064.06, a decrease of 27.4% compared to CNY 1,606,148,470.04 in the same period of 2024[20]. - Net profit for the first three quarters of 2025 was CNY 11,683,839.30, a decline of 62.3% compared to CNY 31,053,098.19 in the same period of 2024[22]. - The total comprehensive income for the first three quarters of 2025 was CNY 13,747,138.54, compared to CNY 38,640,505.14 in the previous year, reflecting a significant decline[22]. Earnings and Shares - Basic and diluted earnings per share for the quarter were both -¥0.03, a decrease of 3,100% year-on-year, with year-to-date earnings per share of ¥0.08, down 65.22%[6]. - Basic and diluted earnings per share for the first three quarters of 2025 were both CNY 0.08, down from CNY 0.23 in the previous year[22]. Cash Flow and Investments - The cash flow from operating activities for the year-to-date period was ¥158,938,147.44, a decrease of 32.54% compared to the previous year[5]. - Operating cash flow for the first nine months was $158.94 million, down from $235.60 million in the same period last year, representing a decrease of 32.4%[26]. - Cash inflow from investment activities increased significantly to $2.42 billion, compared to $1.18 billion in the previous year, marking a growth of 105.5%[27]. - Net cash flow from investment activities was negative at -$483.13 million, worsening from -$288.68 million year-over-year[27]. - Cash inflow from financing activities was $276.51 million, down from $416.69 million, a decline of 33.7%[27]. - The total cash and cash equivalents at the end of the period stood at $342.71 million, up from $256.34 million year-over-year, an increase of 33.7%[27]. Assets and Liabilities - The total assets at the end of the quarter were ¥2,563,763,944.95, an increase of 1.55% from the end of the previous year[6]. - Total current assets as of September 30, 2025, amount to ¥1,930,318,570.17, an increase from ¥1,842,636,808.99 as of December 31, 2024[15]. - Total liabilities increased to ¥743,001,824.59 from ¥615,591,675.05[16]. - Total liabilities amounted to CNY 934,710,721.57, with total equity at CNY 1,629,053,223.38, indicating a stable capital structure[21]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 27,852[12]. - The largest shareholder, Wang Jiasheng, holds 47,869,501 shares, representing 31.39% of total shares[12]. Operational Challenges - The company reported an increase in accounts receivable, leading to higher provisions for bad debts, which impacted profit margins significantly[9]. - The decline in gross profit from solar cell packaging films was a major factor contributing to the overall decrease in net profit for the year-to-date period[10]. - The company’s cash flow statement for the first three quarters of 2025 indicates ongoing operational challenges, with a focus on cost management and efficiency improvements[23]. Changes in Accounting Standards - The company plans to implement new accounting standards starting in 2025, which may affect future financial reporting[28].

Core Viewpoint - The company reported its production and sales figures for functional polyolefin hot melt adhesive particles and hot melt adhesive films for Q3 2025, indicating a decline in product prices and raw material costs [1] Group 1: Production and Sales Data - Functional polyolefin hot melt adhesive particles produced 21,923.27 tons and sold 22,141.34 tons, generating revenue of 262.47 million yuan [1] - Hot melt adhesive films produced 2,731.86 tons and sold 2,824.49 tons, generating revenue of 140.07 million yuan [1] Group 2: Price Changes - The price of functional polyolefin hot melt adhesive particles decreased by 8.81% year-on-year and 3.25% quarter-on-quarter [1] - The price of hot melt adhesive films decreased by 12.83% year-on-year and 16.64% quarter-on-quarter [1] Group 3: Raw Material Costs - The price of polyethylene (PE) decreased by 9.71% year-on-year and 3.8% quarter-on-quarter [1] - The price of ethylene-vinyl acetate (EVA) increased by 4.81% year-on-year but decreased by 5.11% quarter-on-quarter [1] Group 4: Other Information - There were no significant impact events reported during the period, and the operational data is unaudited [1]

Core Viewpoint - Guangzhou Lushan New Materials Co., Ltd. has triggered the conditional redemption clause for its convertible bonds due to the stock price exceeding 130% of the conversion price for 15 trading days, leading to the decision to redeem all outstanding bonds [2][3]. Redemption Details - The company announced the early redemption of "Lushan Convertible Bonds" at a price of 100.6805 CNY per bond, which includes accrued interest [5][8]. - The total amount to be redeemed is 3,468,444.77 CNY, covering 34,450 bonds, with the redemption payment date set for October 20, 2025 [6][12]. Impact on Company - As of the redemption registration date, the remaining balance of "Lushan Convertible Bonds" is 3,445,000 CNY, representing 0.66% of the total issuance [8]. - The total share capital of the company will increase to 161,632,896 shares post-redemption, which may dilute earnings per share in the short term but is expected to strengthen the company's capital structure and reduce future interest expenses [13]. Conversion Status - By the redemption registration date, a total of 520,555,000 CNY of "Lushan Convertible Bonds" has been converted into 27,396,376 shares, accounting for 29.36% of the total shares before conversion [9]. Trading and Freezing of Bonds - "Lushan Convertible Bonds" ceased trading on October 14, 2025, and all unconverted bonds were frozen after the market close on October 17, 2025 [11].

广州鹿山新材料股份有限公司 关于"鹿山转债"赎回结果暨股份变动的公告 | 证券代码：603051 | 证券简称：鹿山新材 | 公告编号：2025-075 | | --- | --- | --- | | 债券代码：113668 | 债券简称：鹿山转债 | | 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： 一、本次可转债赎回的公告情况 （一）有条件赎回条款满足情况 广州鹿山新材料股份有限公司（以下简称"公司"）股票自 2025 年 8 月 26 日至 2025 年 9 月 18 日，已有 15 个交易日的收盘价不低于"鹿山转债"当期转股 价格（即 16.05 元/股）的 130%（即 20.865 元/股）。根据《广州鹿山新材料股份 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》"） 的相关规定，已触发"鹿山转债"的有条件赎回条款。 （二）本次赎回事项公告披露情况 公司于 2025 年 9 月 18 日召开第六届董事会第三次会议，审议通过了《关于提 前赎回"鹿山转债"的议案》，决定行使"鹿山 ...

Core Viewpoint - Lushan New Materials announced that investors holding "Lushan Convertible Bonds" can only convert at a price of 16.05 yuan per share or face mandatory redemption at a total of 100.6805 yuan per bond, which includes accrued interest. This situation may lead to significant investment losses for investors [1]. Group 1 - The announcement specifies the conversion price for the convertible bonds at 16.05 yuan per share [1]. - Investors have the option to choose mandatory redemption at a total of 100.6805 yuan per bond, which includes 100 yuan face value and 0.6805 yuan accrued interest [1]. - The potential for significant investment losses is highlighted if investors opt for mandatory redemption instead of conversion [1].

| | | 广州鹿山新材料股份有限公司 自 2025 年 10 月 15 日起，"鹿山转债"停止交易。 1 赎回登记日：2025 年 10 月 17 日 赎回价格： 100.6805 元/张 赎回款发放日：2025 年 10 月 20 日 最后交易日：2025 年 10 月 14 日 最后转股日：2025 年 10 月 17 日 截至 2025 年 10 月 16 日收市后，距离 2025 年 10 月 17 日（"鹿山转债"最 后转股日）仅剩 1 个交易日，2025 年 10 月 17 日为"鹿山转债"最后一个 转股日。 本次提前赎回完成后，"鹿山转债"将自 2025 年 10 月 20 日起在上海证券交 易所摘牌。 投资者所持"鹿山转债"除在规定时限内按照 16.05 元/股的转股价格进行 转股外，仅能选择以 100 元/张的票面价格加当期应计利息 0.6805 元/张（即 合计 100.6805 元/张）被强制赎回。若被强制赎回，可能面临较大投资损失。 "鹿山转债"已停止交易，公司特提醒"鹿山转债"持有人注意在限期内 转股。 广州鹿山新材料股份有限公司（以下简称"公司"）股票自 2025 年 8 月 2 ...