证券代码：603225 证券简称：新凤鸣 公告编号：2024-118 新凤鸣集团股份有限公司 关于召开 2024 年半年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。 重要内容提示： 会议召开时间：2024 年 10 月 21 日(星期一) 上午 09:00- 10:00 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：上证路演中心网络互动 投资者可于 2024 年 10 月 14 日(星期一) 至 10 月 18 日(星期 五)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 xfmboard@xfmgroup.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。 本次投资者说明会以网络互动形式召开，公司将针对 2024 年半 年度的经营成果及财务指标的具体情况与投资者进行互动交流和沟 通，在信息披露允许的范围内就投资者普遍关注的问题进行回答。 二、 说明会召开的时间、地点 （一） 会 ...

| 股票代码：603225 | 股票简称：新凤鸣 | 公告编号：2024-117 | | --- | --- | --- | | 转债代码：113623 | 转债简称：凤 21 | 转债 | 新凤鸣集团股份有限公司 注：股本结构变动最终情况以限制性股票登记完成后中国证券登记结算有限责任公司 上海分公司出具的《证券变更登记证明》为准。 后续，公司将根据相关规定在中国证券登记结算有限责任公司上海分公司 办理本激励计划授予的登记工作，并及时履行信息披露义务。 特此公告。 目前，本激励计划激励对象已完成缴款。在资金缴纳过程中，有 2 名激励 对象因个人原因自愿放弃认购公司授予其的限制性股票合计 4 万股，该部分放 弃的限制性股票不予登记。因此，公司本次实际向 289 名激励对象授予登记限 制性股票 1,299.30 万股。截至 2024 年 9 月 13 日，公司已收到 289 名激励对象 缴纳的 1,299.30 万股限制性股票认购款，授予价格为每股人民币 6.94 元，认购 款总额为人民币 90,171,420.00 元。天健会计师事务所（特殊普通合伙）于 2024 年 9 月 14 日出具了《验证报告》（天健验 ...

| 股票代码：603225 | 股票简称：新凤鸣 | 公告编号：2024-116 | | --- | --- | --- | | 转债代码：113623 | 转债简称：凤 21 | 转债 | 新凤鸣集团股份有限公司 可转债转股结果暨股份变动公告 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： 2024 年度第三季度转股情况：本季度可转债转股的金额为 1,000 元，因转 股形成的股份数量为 62 股。 一、可转债发行上市概况 （一）可转债发行情况 经中国证券监督管理委员会《关于核准新凤鸣集团股份有限公司公开发行可 转换公司债券的批复》（证监许可〔2021〕411号）核准，新凤鸣集团股份有限 公司（以下简称"公司"）于2021年4月8日公开发行了2,500万张可转换公司债 券，发行价格为每张100元，募集资金总额为人民币2,500,000,000.00元，期限6年。 （二）可转债上市情况 累计转股情况：截至 2024 年 9 月 30 日，累计共有 79,000.00 元"凤 21 转 债"已转换成公司股票 ...

证券代码：603225 证券简称：新凤鸣 公告编号：2024-115 新凤鸣集团股份有限公司 关于股份回购进展公告 二、 回购股份的进展情况 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第 7 号——回购股份》等相关规定，公司在回购期间应当在每个月的前 3 个交易日内 公告截至上月末的回购进展情况，现将公司回购股份的进展情况公告如下： 2024 年 9 月，公司通过集中竞价交易方式已累计回购股份 905.62 万股，占公 司总股本的比例为 0.59%，购买的最高价为 10.94 元/股、最低价为 9.60 元/股，支 付的金额为 9,218.7648 万元（不含佣金、过户费等交易费用）。 本次回购实施起始日至2024年9月月底，公司已累计回购股份2,377.64万股， 占公司总股本的比例为 1.56%，购买的最高价为 14.85 元/股、最低价为 9.60 元/股， 已支付的总金额为 27,655.5708 万元（不含佣金、过户费等交易费用）。 上述回购进展符合既定的回购股份方案。 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 ...

Summary of the Conference Call for Xin Fengming Company Overview - **Company**: Xin Fengming - **Date**: September 26, 2024 Key Points Industry and Market Performance - Xin Fengming's stock price has dropped over 30%, which is significantly beyond the company's fundamental performance [1] - Despite the decline in raw material prices and high temperatures affecting filament price spreads, the overall price spread remains around 200 RMB [2] - The short fiber industry shows improvement, with the company's short fiber product profitability recovering from a loss of over 60 million RMB in the first half to a profit of 300-400 RMB per ton [3] Raw Material Prices - Raw material prices saw a significant drop at the end of August, with PTA prices falling below 4,700 RMB per ton, but have since stabilized and begun to rebound [3] - The price spread for filament products is expected to maintain a steady growth trend in October [3] Pricing Policy - The implementation of a fixed-price policy has performed well overall, but has faced challenges due to high temperatures and weak terminal demand [4] - The company aims to continue the fixed-price model, but execution will require coordination with peers [4] Production and Inventory Management - Inventory levels have decreased to below 15 days, and the operating rate is maintained at around 90% [6] - The company expects total production and sales to approach or reach 100% by the end of September [6] Long-term Profitability and Market Outlook - A long-term price spread of 300-400 RMB is most beneficial for the company, allowing it to leverage cost advantages [7] - The long-term trend for filament and short fiber products is positive, with expected profitability stabilizing between 50-150 RMB per ton [5] Future Capacity Expansion - The company plans to introduce new capacities in the coming years, including 250,000 tons of cationic modified polyester in Q1 2024 and 400,000 tons later in the year, although delays may occur [8] - By the end of 2024, the company expects to add 2.5 million tons of PTA capacity, reaching a total of 10 million tons by early 2025 [8] Short Fiber Market Expectations - The short fiber market is performing well, with price spreads recovering significantly in Q3 [9] - The company anticipates that the short fiber market will maintain its current status with potential for an increase of 50-100 RMB [9] Share Buyback and Financial Management - The company has increased its share buyback limit to 500 million RMB and has consistently repurchased shares since its listing [10] - The company is utilizing its own funds for buybacks rather than relying on additional loans, as liquidity is currently sufficient [11] Loan Rates and Financial Strategy - The company's loan rates are controlled at slightly over 2%, which is comparable to the rates for using re-loans for stock buybacks [11] Additional Important Information - The company has not seen any shareholding reductions from executives or major shareholders since its listing, emphasizing its commitment to investor rights [10]

Investment Rating - The report assigns a "Buy" rating to the company, with a market price of RMB 9.90 and a sector rating of outperforming the market [1][3]. Core Views - The company is recognized as a leading player in the polyester filament industry, with expectations for recovery in industry conditions and growth potential from its integrated refining and chemical business model [3][4]. Summary by Sections Company Overview - The company, Xin Feng Ming, is one of the largest manufacturers of polyester filament in China, with a production capacity of 8.6 million tons per year, including 7.4 million tons of polyester filament, capturing over 12% of the domestic market [4][10]. Financial Performance - From 2012 to 2023, the company's revenue grew from RMB 9.448 billion to RMB 61.469 billion, with a compound annual growth rate (CAGR) of 18.56%. In the first half of 2024, the company reported revenue of RMB 31.272 billion, a year-on-year increase of 10.96%, and a net profit of RMB 605 million, up 26.17% year-on-year [4][17]. Industry Dynamics - The report highlights a significant reduction in new capacity additions in the polyester filament industry, with only 900,000 tons expected in 2024, which is 18.87% of the 2023 additions. The elimination of outdated capacity is also anticipated, with 2-2.5 million tons expected to be phased out between 2024 and 2025 [4][31]. Demand and Supply Factors - Domestic demand for polyester filament is expected to grow, supported by rising consumer spending on clothing, which is still below levels in developed countries. The report notes that the apparent consumption of polyester filament in China reached 28.8482 million tons in 2023, a 12.33% increase year-on-year [40]. Product and Capacity Expansion - The company has diversified its product matrix, including 1.2 million tons of polyester staple fiber, and is expanding its PTA production capacity to 10 million tons by 2026. This expansion is expected to enhance the company's competitive edge in the industry [4][10]. Valuation and Earnings Forecast - The report forecasts the company's net profit for 2024-2026 to be RMB 1.538 billion, RMB 1.965 billion, and RMB 2.616 billion, respectively, with corresponding earnings per share (EPS) of RMB 1.01, RMB 1.29, and RMB 1.72. The price-to-earnings (P/E) ratios are projected to be 9.8x, 7.7x, and 5.8x for the same periods [4][5].

Group 1: General Principles of Investor Relations Management - The purpose of the management measures is to enhance communication between the company and investors, promoting understanding and maximizing shareholder interests [1] - Investor relations management is based on compliance with laws and regulations, ensuring equal treatment of all investors, especially small and medium-sized investors [2][3] - The management principles include compliance, equality, proactivity, and integrity [2] Group 2: Objectives of Investor Relations Management - The main objectives include improving investor understanding and recognition of the company, enhancing corporate credibility, and establishing a good relationship with investors [2] - The ultimate goal is to maximize company value and shareholder interests [2] Group 3: Responsibilities and Structure - The Chairman is the primary responsible person for investor relations activities, including major events like shareholder meetings and press conferences [3] - The Board Secretary oversees the overall coordination and arrangement of investor relations management [3][4] - The Board Office serves as the functional department for daily investor relations management and communication [4] Group 4: Communication Methods and Content - Communication methods include announcements, shareholder meetings, company websites, analyst meetings, and one-on-one communications [7] - Key communication content covers the company's development strategy, operational information, financial status, and major events [8] Group 5: Information Disclosure and Training - The company must ensure timely and accurate information disclosure, adhering to the established information disclosure management system [9][26] - Training for management and relevant personnel on investor relations management is essential to maintain effective communication [9] Group 6: Crisis Management and Apologies - In case of significant crises, the company must propose effective handling plans and communicate promptly with investors [5][28] - The company is required to publicly apologize under specific circumstances, such as administrative penalties or poor information disclosure evaluations [10]

| 股票代码：603225 | 股票简称：新凤鸣 | 公告编号：2024-112 | | --- | --- | --- | | 转债代码：113623 | 转债简称：凤 21 | 转债 | 新凤鸣集团股份有限公司 关于全资子公司中维化纤向其控股子公司增资的公告 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： 增资标的名称：桐乡市鸿益热电有限公司 增资金额：桐乡市鸿益热电有限公司（以下简称"鸿益热电"）新增 10,000 万元人民币注册资本，新增注册资本后鸿益热电注册资本变更为 15,000 万元。公司全资子公司桐乡市中维化纤有限公司（以下简称"中维化纤"）和 桐乡市临杭经济区新市镇开发建设有限公司（以下简称"临杭新市开发建设"） 按持股比例进行增资。其中，中维化纤增资人民币 9,500 万元，仍占鸿益热电 注册资本的 95%；临杭新市开发建设增资人民币 500 万元，仍占鸿益热电注册 资本的 5%。 本次增资事项不构成关联交易和上市公司重大资产重组事项 本次增资事项已经公司第六届董事会第二十四次会议审议 ...

| 股票代码：603225 | 股票简称：新凤鸣 | 公告编号：2024-111 | | --- | --- | --- | | 转债代码：113623 | 转债简称：凤 21 | 转债 | 新凤鸣集团股份有限公司 关于不向下修正"凤21转债"转股价格的公告 经上海证券交易所自律监管决定书[2021]181号文同意，公司25.00亿元可转 换公司债券于2021年5月7日起在上海证券交易所挂牌交易，债券简称"凤21转 1 债"，债券代码"113623"。 根据《上海证券交易所股票上市规则》有关规定及《新凤鸣集团股份有限公 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》"）的约 定，公司该次发行的"凤21转债"自可转换公司债券发行结束之日起满六个月后 的第一个交易日，即2021年10月14日起可转换为公司A股普通股，初始转股价格 为16.60元/股。2021年6月17日为公司2020年度利润分配的除息日，"凤21转债" 的转股价格调整为16.47元/股，具体内容请详见公司于2021年6月10日披露的 《关于权益分派引起的公司可转债转股价格调整的公告》（公告编号2021-081）。 2022年6月2 ...

新凤鸣集团股份有限公司 第六届董事会第二十四次会议决议公告 | 股票代码：603225 | 股票简称：新凤鸣 | 公告编号：2024-114 | | --- | --- | --- | | 转债代码：113623 | 转债简称：凤 转债 21 | | 表决结果：8 票同意，0 票反对，0 票弃权。 2、审议通过了《关于全资子公司中维化纤向其控股子公司增资的议案》 董事会同意公司全资子公司桐乡市中维化纤有限公司（以下简称"中维化 纤"）根据公司战略发展目标和需要和桐乡市临杭经济区新市镇开发建设有限公 司（以下简称"临杭新市开发建设"）按持股比例共同以自有资金向鸿益热电新 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。 一、董事会会议召开情况 新凤鸣集团股份有限公司（以下简称"公司"）第六届董事会第二十四次会 议于 2024 年 9 月 18 日以现场表决和通讯表决相结合的方式在公司五楼一号会议 室召开。本次董事会会议通知于 2024 年 9 月 13 日以电话方式发出。会议由董事 长庄耀中先生召集并主持，会议应出席董事 8 ...