新凤鸣集团股份有限公司 2026 年第二次临时股东会 会议资料 2026 年 1 月 新凤鸣 2026 年第二次临时股东会会议资料 目录 | 新凤鸣集团股份有限公司 | 2026 年第二次临时股东会通知 3 | | --- | --- | | 新凤鸣集团股份有限公司 | 2026 年第二次临时股东会会议须知 4 | | 新凤鸣集团股份有限公司 | 年第二次临时股东会会议议程 6 2026 | | 议案一、关于确认公司 | 年度日常关联交易执行情况并预计 年度日常关联交 2025 2026 | | 易的议案 | 7 | | 议案二、关于修订《投资管理制度》的议案 22 | | 2 新凤鸣 2026 年第二次临时股东会会议资料 新凤鸣集团股份有限公司 2026 年第二次临时股东会通知 各位股东及股东代表： 新凤鸣集团股份有限公司（以下简称"公司"）2026 年第二次临时股东会拟 于 2026 年 2 月 5 日下午 14：00 时在公司总部二十四楼会议室召开。 本次股东会审议和表决议题如下： 1、审议《关于确认公司 2025 年度日常关联交易执行情况并预计 2026 年度日 常关联交易的议案》 2、审议《关于修订 ...

（文章来源：证券日报） 证券日报网讯 1月26日，新凤鸣发布公告称，公司股票自2026年1月6日至1月26日已有十个交易日收盘 价不低于"凤21转债"当期转股价15.78元/股的130%（即20.514元/股）。若未来连续十五个交易日内再有 五个交易日收盘价不低于20.514元/股，将触发有条件赎回条款，届时公司有权决定是否按债券面值加 当期应计利息的价格赎回全部或部分未转股的"凤21转债"。 ...

Group 1 - The chemical fiber sector experienced a decline of 2.24% on January 26, with Tongyi Zhong leading the drop [1] - The Shanghai Composite Index closed at 4132.61, down 0.09%, while the Shenzhen Component Index closed at 14316.64, down 0.85% [1] - Key stocks in the chemical fiber sector showed mixed performance, with Youfu Co. rising by 3.55% to a closing price of 7.87, while Tongyi Zhong fell by 5.01% to 20.66 [2] Group 2 - The net outflow of main funds in the chemical fiber sector was 528 million yuan, while retail investors saw a net inflow of 440 million yuan [2] - The table of fund flows indicates that New Xiang Chemical Fiber had a main net inflow of 23.73 million yuan, while Youfu Co. had a net outflow of 61.85 million yuan [3] - The overall trading volume in the chemical fiber sector was significant, with Youfu Co. achieving a transaction amount of 443 million yuan [1]

| 股票代码：603225 | 股票简称：新凤鸣 | | | 公告编号：2026-009 | | --- | --- | --- | --- | --- | | 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"凤21转债"预计满足赎回条件的提示性公告 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： 新凤鸣集团股份有限公司（以下简称"公司"）股票自 2026 年 1 月 6 日起 至 2026 年 1 月 26 日已有十个交易日的收盘价不低于"凤 21 转债"当期转股价 格（即 15.78 元/股）的 130%（即 20.514 元/股）。若在未来连续十五个交易日内， 公司股票仍有五个交易日的收盘价不低于 20.514 元/股，将触发"凤 21 转债"的 有条件赎回条款，届时根据《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，公司董事会将有权决定是否 按照债券面值加当期应计利息的价格赎回全部或部分未转股的" ...

Investment Rating - The report maintains a strong rating for the chemical industry, indicating a positive outlook for the sector [5]. Core Insights - The chemical sector has shown resilience with the CITIC Basic Chemical Index rising by 5.73% and the Shenwan Chemical Index increasing by 7.29% this week [13][16]. - Key sub-industries such as soda ash, chlor-alkali, and dyeing chemicals have experienced significant price increases, with soda ash rising by 13.3% [16]. - The report highlights the competitive strength of domestic tire manufacturers and suggests focusing on companies like Sailun Tire and Linglong Tire as potential growth opportunities [4]. - The polyurethane project by Huide Technology, with an annual production capacity of 600,000 tons, has commenced, indicating strategic growth in the new materials sector [3]. - The report emphasizes the tightening supply-demand dynamics in the phosphate chemical sector due to environmental regulations and increasing demand from the new energy sector [4]. Summary by Sections Market Overview - The Shanghai Composite Index increased by 0.84%, while the ChiNext Index decreased by 0.34% [13]. - The overall performance of the chemical sector is positive, with notable gains in various sub-industries [16]. Key Sub-Industry Developments - **Polyurethane**: The price of pure MDI in East China is reported at 17,600 RMB/ton, showing a week-on-week decline of 1.12% [28]. - **Tires**: The operating load for all-steel tires in Shandong is at 62.70%, reflecting a year-on-year increase of 20.70% [49]. - **Fertilizers**: Urea prices are at 1,757.45 RMB/ton, with a week-on-week decrease of 0.4% [63]. - **Vitamins**: The price of Vitamin A is reported at 61.5 RMB/kg, down 1.6% week-on-week [79]. Investment Themes - **Tire Sector**: Domestic tire companies are positioned strongly, with a focus on growth stocks [4]. - **Consumer Electronics**: Recovery in demand is anticipated, benefiting upstream material companies [4]. - **Phosphate Chemicals**: Supply constraints due to environmental policies are expected to tighten the market [4]. - **Vitamin Supply**: Supply disruptions in Vitamin A and E are noted, creating potential investment opportunities [4].

Investment Rating - The report maintains a rating of "Buy" for the basic chemical industry [5] Core Views - The report highlights that the spandex industry is at a turning point, with prices reaching historical lows and recent price increases indicating a recovery in the industry [1][2] - The report emphasizes the limited new capacity in the spandex sector and the exit of outdated capacity, suggesting a favorable supply-demand balance and a positive outlook for the spandex industry [2] - The "anti-involution" policy is expected to enhance the recovery of the "refining-chemical fiber" industry chain, with improvements in market competition and supply-demand dynamics [3] Summary by Sections Industry Overview - Spandex prices have dropped from a peak of 83,750 yuan/ton in 2021 to 23,600 yuan/ton in early January 2026, a decline of 72% [1] - The report notes that spandex production capacity in China is projected to grow from 925,000 tons in 2020 to 1,430,000 tons by 2025, with a compound annual growth rate (CAGR) of 7.6% [2] Supply and Demand Dynamics - The apparent consumption of spandex in China is expected to increase from 720,000 tons in 2020 to 1,060,000 tons by 2025, with a CAGR of 6.7% [2] - The report indicates that the spandex industry is entering a recovery phase due to the reduction in new capacity and the exit of outdated production [2] Policy Impact - The "anti-involution" policy aims to optimize market competition and improve the supply-demand balance in the refining and chemical fiber sectors [3] - The report suggests that the refining industry is nearing the end of capacity expansion, which is expected to improve supply-demand dynamics [3] Investment Recommendations - The report recommends focusing on leading companies in the polyester filament sector such as Hengli Petrochemical, Rongsheng Petrochemical, and Dongfang Shenghong, as well as spandex companies like Huafeng Chemical and Xinxiang Chemical Fiber [4]

Group 1 - The core point of the article is that Jiangsu Xintuo New Materials Co., Ltd., a subsidiary of Xin Feng Ming (603225), has increased its registered capital from 3.5 billion RMB to 5 billion RMB, representing an increase of approximately 43% [1] - Jiangsu Xintuo New Materials Co., Ltd. was established in February 2021 and is wholly owned by Xin Feng Ming [1] - The company's business scope includes synthetic fiber manufacturing, synthetic fiber sales, fabric textile processing, and sales of knitted textiles and raw materials [1]

Group 1 - The core point of the article is that Jiangsu Xintuo New Materials Co., Ltd., a subsidiary of Xin Feng Ming (603225), has increased its registered capital from 3.5 billion RMB to 5 billion RMB, representing an increase of approximately 43% [1] Group 2 - Jiangsu Xintuo New Materials Co., Ltd. was established in February 2021 and is wholly owned by Xin Feng Ming [1] - The company's business scope includes synthetic fiber manufacturing, synthetic fiber sales, fabric weaving processing, and sales of knitted textiles and raw materials [1]

Summary of Key Points Core Viewpoint The company has decided to cancel the remaining shares repurchased in 2022, which were initially intended for employee stock ownership plans, and will instead reduce its registered capital by the same amount. Group 1: Share Repurchase Overview - On March 7, 2022, the company approved a share repurchase plan with a total fund of no less than RMB 150 million and no more than RMB 300 million, at a price not exceeding RMB 18.00 per share [2] - The company repurchased 798,100 shares on March 8, 2022, at a price range of RMB 12.10 to RMB 12.35, totaling RMB 9,788,945 [2] Group 2: Repurchase Completion and Usage Change - By March 6, 2023, the company had repurchased a total of 18,381,291 shares, accounting for 1.20% of the total share capital, with an average price of RMB 10.88 and total expenditure of RMB 199,985,473.56 [3] - On August 6, 2024, the company changed the purpose of the repurchased shares from employee stock ownership to equity incentives, with 1,299.30 million shares granted to 289 incentive targets [4] Group 3: Cancellation Decision and Implementation - On November 18, 2025, the company decided to cancel the remaining 5,388,291 shares that were not used for equity incentives, as they had not been transferred within three years [6] - The cancellation was approved in a board meeting and a subsequent shareholder meeting, with the announcement made on December 5, 2025 [5][6] Group 4: Impact of Cancellation - Following the cancellation, the total share capital will decrease from 1,524,555,706 shares to 1,519,167,415 shares [8] - The cancellation is not expected to significantly impact the company's financial status or operational results, and the company will maintain its listing status [8]

北京市中伦（上海）律师事务所 关于新凤鸣集团股份有限公司 变更回购股份用途并注销的 法律意见书 二〇二六年一月 北京 • 上海 • 深圳 • 广州 • 武汉 • 成都 • 重庆 • 青岛 • 杭州 • 南京 • 海口 • 东京 • 香港 • 伦敦 • 纽约 • 洛杉矶 • 旧金山 • 阿拉木图 Beijing • Shanghai • Shenzhen • Guangzhou • Wuhan • Chengdu • Chongqing • Qingdao • Hangzhou • Nanjing • Haikou • Tokyo • Hong Kong • London • New York • Los Angeles • San Francisco • Almaty 北京市中伦（上海）律师事务所 关于新凤鸣集团股份有限公司 变更回购股份用途并注销的 1 法律意见书 2．本所律师仅就与公司本次变更并注销相关的法律问题发表意见，不对有 关会计、审计等专业事项和报告发表评论。在本法律意见书中如涉及会计报表、 审计报告内容时，均为本所严格按照有关中介机构出具的报告引述，但该等引述 不应视为本所对这些数据和结论的真实 ...