江苏常青树新材料科技股份有限公司 关于使用暂时闲置自有资金进行委托理财的公告 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： 基本情况 | 投资金额 | 3900 万元 | | --- | --- | | 投资种类 | 结构性存款 | | 资金来源 | 自有资金 | 证券代码：603125 证券简称：常青科技 公告编号：2025-065 已履行及拟履行的审议程序：公司于 2025 年 4 月 11 日召开的第二届 董事会第十次会议及第二届监事会第九次会议，审议通过了《关于公司拟使 用暂时闲置自有资金进行现金管理的议案》，同意公司在不超过人民币 50,000 万元的额度内使用闲置自有资金进行现金管理，上述额度自董事会审议通过 之日起 12 个月内可滚动计算。该事项在董事会审批权限内，无须提交股东大 会审议。 特别风险提示：公司本次购买的理财产品均为保证本金的低风险产品， 但结构性存款产品可能面临多重风险因素，包括但不限于政策风险、市场风 险、流动性风险、产品不成立风险、信息传递风险、管理风险、产品提前终 止风险、 ...

证券代码：603125 证券简称：常青科技 公告编号：2025-064 江苏常青树新材料科技股份有限公司 关于使用暂时闲置募集资金进行委托理财的公告 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： 基本情况 (一) 使用闲置募集资金进行委托理财到期赎回的情况 | 受托方 | 产品名称 | 产品性质 | 投资金额 | 预计年化 | 产品 | 起息日 | 到期日 | 实际收益 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | （万元） | 收益率 | 期限 | | | （万元） | | 中国银行 镇江大港 | 客户结构性存款产品 | 保本最低 收益型 | 4,900.00 | 0.600%- | 56 天 | 2025.08.01 | 2025.09.26 | 4.51 | | 支行 | 【CSDVY202510370】 | | | 2.6242% | | | | | (二) 投资目的 为提高募集资金使用效率，合理利用部分暂时闲置募集 ...

Core Viewpoint - Jiangsu Changqing Tree New Materials Technology Co., Ltd. plans to use 49 million yuan of temporarily idle raised funds to purchase structured deposits from Bank of China, Zhenjiang Dagang Branch, with a term of 87 days, starting from September 30 and maturing on December 26 [1] Group 1 - The company previously had a structured deposit of the same amount that matured on September 26, yielding an actual return of 45,100 yuan [1] - On April 11, the company approved a proposal to use up to 550 million yuan of idle raised funds for cash management, valid for 12 months [1] - Although the investment is in a principal-protected product, there are still market volatility risks, and the company has implemented multiple risk control measures [1] Group 2 - The investment is believed to not affect daily operations and fundraising projects, while improving capital efficiency and benefiting shareholders [1]

Report Summary 1. Report Industry Investment Rating No information provided in the document. 2. Core Viewpoints - The company is the first in China to successfully put into production a TBS production device. TBS has excellent performance and a wide range of downstream applications, with good market prospects under the trend of industrial upgrading and import substitution [24][37]. - The company attaches great importance to the strategic value and development potential of cutting - edge technology fields such as synthetic biology. The Taizhou project (Phase I) is an extension of the company's product matrix and technology accumulation, aiming to enrich product categories [25][30][32]. - The company's R & D adopts a model of internal R & D combined with university cooperation. The existing R & D team is mainly composed of senior technical backbones with over 10 years of industry experience, which is in line with the current R & D needs of the company [27][28]. - The company's products are mainly high - molecular new material special monomers and special additives, which have the characteristics of small dosage, great effect, and high added value in the downstream high - molecular new material industry system [38]. 3. Summary According to the Directory 3.1 Research Basic Situation - The research object is Changqing Technology. The reception time was on September 26, 2025. The listed company's reception personnel included the chairman and general manager, the director and board secretary, the financial controller, and the independent director [17]. 3.2 Detailed Research Institutions - The research institutions mainly include investors and others [20]. 3.3 Research Institution Proportion No information provided in the document. 3.4 Main Content Information - **Product Application and Market**: TBS has been sent for sampling and sales in multiple industries and is expected to be applied in more industries. The company's products can be used in multiple fields of the big - health industry, such as high - end medical consumables, biomedicine, and food packaging [24][26]. - **Project Planning**: The Taizhou project (Phase I) is an extension of the company's product matrix and technology accumulation. The second - and third - phase plans will be scientifically demonstrated and decided based on the operation results of the first - phase project, market trends, and R & D progress [25][30][35]. - **New Product Promotion and Production Capacity**: Some new products of the company's fund - raising projects have been sent to customers for sampling or obtained orders, and the production capacity and benefits are gradually being released. The seventh - phase project is in the trial - production stage [27][31][41]. - **R & D and Technology**: The company's R & D adopts a combination of internal R & D and university cooperation. The company's unique technology path is difficult to be imitated by competitors, and the company attaches great importance to technology confidentiality [27][28][34]. - **Market and Sales**: The company's products are sold overseas, with an export proportion of about 35% during the reporting period, mainly to Europe, Japan, South Korea, Southeast Asia and other countries or regions [24][33][37]. - **Production Capacity and Performance**: The company's production capacity is in a stable and rising trend. The production capacity of the fund - raising project is gradually climbing. Regarding the third - quarter performance, please refer to the company's subsequent regular reports [41].

Core Viewpoint - The price of trimellitic anhydride (TMA) has significantly dropped, losing over 72% from its peak last year, raising concerns about the viability of Changqing Technology's ambitious 10 billion TMA project amidst a challenging market environment [2][3]. Group 1: Market Conditions - In September 2025, the mainstream transaction price of TMA in East China fell to 15,500-15,600 yuan/ton, reflecting a drastic decline from previous highs [2][14]. - The price of TMA surged to over 50,000 yuan/ton in 2024 due to global supply disruptions, but has since plummeted, with a 50% drop noted from early 2025 [13][17]. - The TMA market is facing a potential oversupply as multiple companies are expanding production, leading to fears of a price drop and supply-demand imbalance by 2026 [12][19]. Group 2: Company Strategy and Financials - Changqing Technology initiated an 8 billion convertible bond financing for its TMA project, which was approved by shareholders on September 19 [2]. - The company’s total assets are only 2.56 billion yuan, while the first phase of the TMA project alone requires an investment of 3 billion yuan, raising concerns about financial sustainability [25]. - The company has reported a significant decline in revenue and net profit, with a year-on-year decrease of 10.67% and 31.89% respectively, indicating weakened profitability [25]. Group 3: Competitive Landscape - The closure of INEOS's TMA production facility has created a temporary supply gap, but the subsequent market response has led to aggressive expansions by domestic companies [6][8]. - Other companies like Zhengdan Co. and Baichuan Co. are also expanding their TMA production capacities, which could further saturate the market [9][12]. - The market's cautious sentiment towards Changqing Technology is reflected in its stock performance, with institutional holdings below 5%, contrasting with competitors like Zhengdan Co. which have higher institutional support [21][23].

证券代码：603125 证券简称：常青科技 公告编号：2025-063 江苏常青树新材料科技股份有限公司 2025年第二次临时股东会决议公告 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。 本次股东会的召集、召开及表决程序符合《公司法》《上市公司股东会规则》 《公司章程》的有关规定。本次股东会由公司董事会召集，由董事长、总经理孙 秋新主持。 (五)公司董事和董事会秘书的出席情况 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东会召开的时间：2025 年 9 月 19 日 (二)股东会召开的地点：江苏省镇江新区青龙山路 3 号公司二楼会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 353 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 306,338,348 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 75.6696 | (四)表决方式 ...

国浩律师（上海）事务所 关 于 江苏常青树新材料科技股份有限公司 2025 年第二次临时股东会 之 见证法律意见书 上海市静安区山西北路 99 号苏河湾中心 25-28 层 邮编：200048 25-28/F, Suhe Centre, 99 North Shanxi Road, Jing'an District, Shanghai, China 电话/Tel: +86 21 5234 1668 传真/Fax: +86 21 5234 1670 网址/Website: http://www.grandall.com.cn 2025 年 9 月 国浩律师（上海）事务所 法律意见书 国浩律师（上海）事务所 关于江苏常青树新材料科技股份有限公司 2025 年第二次临时股东会之见证法律意见书 致：江苏常青树新材料科技股份有限公司 江苏常青树新材料科技股份有限公司（以下简称"公司"）2025 年第二次临 时股东会于 2025 年 9 月 19 日下午 13 点 30 分在江苏省镇江新区青龙山路 3 号公 司二楼会议室召开，国浩律师（上海）事务所（以下简称"本所"）接受公司的 委托，指派秦桂森律师、黄靖渝律师（以下简称" ...

江苏常青树新材料科技股份有限公司 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： 会议召开时间：2025 年 09 月 26 日 （星期五） 09:30-11:30 会议召开地点：上海证券交易所上证路演中心（网址： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心视频直播和网络互动 2025 年 09 月 19 日 （星期五） 至 09 月 25 日 （星期四）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮 箱 securities@cqs-hm.com 进行提问。公司将在说明会上对投资者普 遍关注的问题进行回答。 证券代码：603125 证券简称：常青科技 公告编号：2025062 江苏常青树新材料科技股份有限公司 关于召开 2025 年半年度业绩说明会的公告 （一）会议召开时间：2025 年 09 月 26 日（星期五）09:30-11:30 （二）会议召开地点：上海证券交易所上证路演中心（网址： https://roadshow.ssein ...

江苏常青树新材料科技股份有限公司 2025 年第二次临时股东会会议资料 二〇二五年九月十九日 2025 年第二次临时股东会 | | | | 2025 年第二次临时股东会会议须知 1 | | --- | | 2025 年第二次临时股东会会议议程 3 | | 议案一：关于公司符合向不特定对象发行可转换公司债券条件的议案 6 | | 议案二：关于公司向不特定对象发行可转换公司债券方案的议案 7 | | 议案三：关于公司向不特定对象发行可转换公司债券预案的议案 15 | | 议案四：关于公司《向不特定对象发行可转换公司债券方案的论证分析报告》的议案 16 | | 议案五：关于公司《向不特定对象发行可转换公司债券募集资金使用可行性分析报告》的议 | | 案 17 | | 议案六：关于公司前次募集资金使用情况专项报告的议案 18 | | 议案七：关于公司向不特定对象发行可转换公司债券摊薄即期回报与填补措施及相关主体承 | | 诺的议案 19 | | 议案八：关于公司《可转换公司债券持有人会议规则》的议案 20 | | 议案九：关于提请股东会授权董事会及董事会授权人士全权办理本次向不特定对象发行可转 | | 换公司债券相关 ...

Group 1 - The core point of the article is that Changqing Technology plans to raise funds through convertible bonds for capacity expansion, marking its first refinancing effort since its IPO two years ago [1][2] - The company intends to issue convertible bonds totaling no more than 800 million yuan, with the net proceeds aimed at the first phase of the Taizhou high polymer new materials production base [1][2] - The total investment for the Taizhou project is 2.855 billion yuan, with the goal of producing 80,000 tons of trimellitic anhydride, 10,000 tons of isophthalic acid, and 120,000 tons of phenol series products annually [2] Group 2 - Changqing Technology is a high-tech enterprise specializing in the R&D, production, and sales of special monomers and additives for high polymer new materials [1] - The company reported a revenue of 485 million yuan in the first half of 2025, a year-on-year decrease of 10.67%, and a net profit of 70.247 million yuan, down 31.89% year-on-year [2][3] - The average selling prices of its main products, special monomers and additives, decreased by 5.43% and 2.35% respectively, while production and sales volumes also saw significant declines [3]