| | | 山东玻纤集团股份有限公司 关于计提资产减值准备的公告 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。 山东玻纤集团股份有限公司（以下简称公司）于 2025 年 10 月 30 日召开第 四届董事会审计委员会第九次会议，审议通过《关于计提资产减值准备的议案》， 并同意将该议案提交董事会审议。同日，公司召开第四届董事会第十四次会议， 审议通过《关于计提资产减值准备的议案》。公司根据《企业会计准则》和内部 相关制度的规定，为真实、公允地反映公司的财务状况及经营成果，本着谨慎性 原则，公司对截至 2025 年 9 月 30 日合并报表范围内的各类资产进行了全面的检 查和减值测试，对可能发生资产减值损失的资产计提了资产减值准备。具体如下： 一、计提资产减值准备的基本情况 公司计提资产减值准备的范围包括应收账款、其他应收款、存货、预付账款， 计提各项资产减值准备共计 1,515.18 万元，计入的报告期间为 2025 年 1 月 1 日至 2025 年 9 月 30 日，具体明细如下表： 单位：万元 2025 年 1 月 ...

| | | 山东玻纤集团股份有限公司 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： 投资者可于 2025 年 10 月 31 日（星期五）至 11 月 06 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 sdbxzqb@shandong-energy.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。 山东玻纤集团股份有限公司（以下简称公司）已于 2025 年 10 月 31 日发布公司 2025 年第三季度报告，为便于广大投资者更全面深入 地了解公司 2025 年第三季度经营成果、财务状况，公司计划于 2025 年 11 月 07 日（星期五）10:00-11:30 举行 2025 年第三季度业绩说 明会，就投资者关心的问题进行交流。 会议召开时间：2025 年 11 月 07 日（星期五）10:00-11:30 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 ...

| 证券代码：605006 | 证券简称:山东玻纤 | 公告编号：2025-078 | | --- | --- | --- | | 转债代码：111001 | 转债简称:山玻转债 | | 山东玻纤集团股份有限公司 第四届董事会第十四次会议决议公告 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个别及连带责任。 山东玻纤集团股份有限公司（以下简称公司）第四届董事会第十四次会议于 2025 年 10 月 30 日 14：00 在公司会议室以现场结合通讯方式召开，应参加表决 的董事 9 人，实际参加表决的董事 9 人，公司高级管理人员列席了本次会议。本 次会议的召集、召开和表决程序符合《中华人民共和国公司法》和《公司章程》 的规定，会议形成的决议合法有效。 经与会董事研究，会议审议并通过了如下议案： 一、审议通过《关于公司 2025 年第三季度报告的议案》 具体内容详见公司同日在上海证券交易所网站（www.sse.com.cn）及相关信 息披露媒体披露的《山东玻纤集团股份有限公司 2025 年第三季度报告》。 本议案经第四届董事会审计委员会第 ...

Financial Performance - The company's operating revenue for the third quarter reached ¥644,939,296.85, an increase of 36.57% compared to the same period last year[4] - The total profit for the third quarter was a loss of ¥13,574,034.13, representing a decrease of 40.50% year-on-year[4] - The net profit attributable to shareholders was a loss of ¥8,941,428.91, which is a 32.98% increase in loss compared to the previous year[4] - Basic earnings per share for the third quarter were -¥0.01, an increase in loss of 50.00% compared to the same period last year[5] - The company's net profit margin for the year-to-date period showed a significant increase of 109.33% compared to the previous year[4] - Operating profit for the first three quarters of 2025 was ¥8,071,751.78, a significant recovery from a loss of ¥124,146,742.24 in the same period of 2024[20] - Net profit for the first three quarters of 2025 was -¥213,760.71, compared to a net loss of -¥110,649,498.02 in 2024, indicating an improvement in financial performance[21] - The net profit for the first three quarters of 2025 was a loss of ¥68,699,907.05, compared to a loss of ¥73,354,113.52 in the same period of 2024, indicating an improvement in performance[30] Cash Flow - The net cash flow from operating activities was a negative ¥359,998,946.72, reflecting a significant decrease of 715.93% compared to the previous year[5] - Cash flow from operating activities for the first three quarters of 2025 was -¥359,998,946.72, a decline from a positive cash flow of ¥58,448,142.91 in 2024[24] - The total cash inflow from operating activities was 386,347,340.82 RMB, down 8.4% from 421,766,998.28 RMB in the previous year[32] - The company incurred a total cash outflow from operating activities of 517,420,986.30 RMB, which is significantly higher than 366,189,663.05 RMB in the previous year[32] - The cash and cash equivalents at the end of the period stood at 257,602,552.48 RMB, compared to 224,611,140.20 RMB at the end of the previous year[33] - The cash flow from financing activities generated a net cash flow of ¥425,272,277.14, compared to ¥240,586,126.39 in the previous period, marking an increase of about 76.7%[25] - The company reported a cash inflow from financing activities of 560,000,000.00 RMB, an increase of 29% compared to 435,000,000.00 RMB in 2024[33] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥7,661,133,156.27, a 7.33% increase from the end of the previous year[5] - Total current assets as of September 30, 2025, amounted to ¥2,349,239,981.52, an increase from ¥1,807,261,791.92 at the end of 2024[16] - Total liabilities as of September 30, 2025, were ¥2,441,409,579.08, slightly down from ¥2,443,609,907.47[17] - Long-term borrowings increased to ¥1,941,076,222.02 from ¥1,438,566,113.77[17] - Total liabilities increased to ¥5,046,569,754.57 in 2025 from ¥4,510,071,100.22 in 2024, reflecting a growth of 11.9%[18] - The total liabilities as of September 30, 2025, were ¥1,852,556,934.04, compared to ¥1,567,316,460.09 at the end of 2024, reflecting an increase of about 18.2%[28] - The company's total equity as of September 30, 2025, was ¥1,867,950,210.19, a decrease from ¥1,950,486,756.86 at the end of 2024, reflecting a decline of approximately 4.2%[28] Shareholder Information - Total shareholders of common stock at the end of the reporting period reached 37,665[12] - The largest shareholder, Shandong Energy Group New Materials Co., Ltd., holds 316,441,633 shares, accounting for 51.79% of total shares[12] Research and Development - Research and development expenses for the first three quarters of 2025 totaled ¥77,538,133.63, slightly up from ¥75,741,113.36 in 2024, indicating continued investment in innovation[20] - The company's research and development expenses for the first three quarters of 2025 were ¥25,847,769.39, a decrease from ¥37,378,590.27 in the same period of 2024, indicating a reduction of approximately 30.9%[30] Inventory and Receivables - Accounts receivable increased significantly to ¥328,679,035.74 from ¥68,259,248.75[16] - Inventory rose to ¥645,140,679.31, up from ¥533,692,133.56[16] - The company's inventory as of September 30, 2025, was valued at ¥147,898,643.48, down from ¥167,839,777.70 at the end of 2024, indicating a decrease of approximately 11.9%[26] Non-Recurring Items - Non-recurring gains and losses for the period totaled ¥10,036,917.22, with government subsidies being a significant contributor[8] Accounting Standards - The company has not adopted new accounting standards for the year 2025[34]

Core Insights - The glass and fiberglass sector experienced a 3.3% increase on October 28, with Honghe Technology leading the gains [1] - The Shanghai Composite Index closed at 3988.22, down 0.22%, while the Shenzhen Component Index closed at 13430.1, down 0.44% [1] Stock Performance - Honghe Technology (603256) closed at 38.48, up 10.01%, with a trading volume of 271,500 shares and a turnover of 1.014 billion yuan [1] - Zhongcai Technology (002080) closed at 34.54, up 6.87%, with a trading volume of 744,600 shares and a turnover of 2.524 billion yuan [1] - International Composite (301526) closed at 6.64, up 5.23%, with a trading volume of 1,683,700 shares and a turnover of 1.102 billion yuan [1] - Other notable performers include Changhai Co. (300196) up 2.26%, Kaisheng New Energy (600876) up 2.10%, and Jiuding New Materials (002201) up 1.98% [1] Capital Flow - The glass and fiberglass sector saw a net inflow of 597 million yuan from institutional investors, while retail investors experienced a net outflow of 498 million yuan [2] - The main capital inflow was led by Honghe Technology with a net inflow of 331 million yuan, accounting for 32.70% of its trading volume [3] - Zhongcai Technology followed with a net inflow of 179 million yuan, representing 7.08% of its trading volume [3]

Market Performance - The glass and fiberglass sector increased by 2.67% compared to the previous trading day, with Zhongcai Technology leading the gains [1] - The Shanghai Composite Index closed at 3950.31, up 0.71%, while the Shenzhen Component Index closed at 13289.18, up 2.02% [1] Individual Stock Performance - Zhongcai Technology (002080) closed at 32.23, up 5.67% with a trading volume of 435,400 shares and a transaction value of 1.384 billion [1] - Honghe Technology (603256) closed at 33.61, up 4.93% with a trading volume of 189,400 shares and a transaction value of 626 million [1] - China Jushi (600176) closed at 15.77, up 2.87% with a trading volume of 418,200 shares and a transaction value of 657 million [1] - International Composite Materials (301526) closed at 6.14, up 2.68% with a trading volume of 681,000 shares and a transaction value of 415 million [1] - Changhai Co., Ltd. (300196) closed at 14.64, up 1.31% with a trading volume of 40,200 shares and a transaction value of 58.57 million [1] Capital Flow Analysis - The glass and fiberglass sector saw a net inflow of 67.1971 million from main funds, while retail funds experienced a net outflow of 30.6972 million [2] - Main funds showed significant inflow into Honghe Technology (4.81012 million) and Zhongcai Technology (4.46558 million) [3] - Retail funds had notable outflows from China Jushi (-3.95663 million) and Changhai Co., Ltd. (-0.60402 million) [3]

Group 1: Core Insights - The real estate policies continue to be implemented, which is expected to drive valuation recovery and improvement in the building materials industry [1][2] - In September, the cement market entered the traditional peak season, but the recovery in demand remains insufficient, with a significant year-on-year decline in cement production [2][3] - The glass fiber industry is seeing price increases initiated by Shandong Glass Fiber, which is expected to enhance industry profitability [1][4] Group 2: Cement Industry - The cement market showed a month-on-month recovery in September, but the year-on-year average shipment rate declined by nearly 4 percentage points [3] - The weak demand recovery in September is attributed to investment declines and frequent rainfall affecting construction progress [2][3] - The average price of cement in September 2025 is reported at 346.77 yuan/ton, reflecting a slight increase from June [3] Group 3: Glass Industry - The float glass market is expected to enter a phase of fluctuation after a price increase, with some year-end demand but overall weak market conditions [3] - Supply pressures remain, and the daily production is expected to stay above 160,000 tons [3] - Key companies to watch in the glass industry include Qibin Group and Jinjing Technology [3] Group 4: Glass Fiber Industry - Shandong Glass Fiber announced price adjustments for certain products, increasing prices by 5%-10% [4] - The China Glass Fiber Industry Association has called for a fair competitive environment, which may lead to improved profitability in the industry [4] - Key companies to monitor in the glass fiber sector include China Jushi and Zhongcai Technology [4] Group 5: Consumer Building Materials - Continuous real estate policy implementation is expected to improve industry valuation and fundamentals, with recommended companies including Weixing New Materials and Beixin Building Materials [4]

Core Insights - The article highlights the transformative role of thermoplastic composites in the automotive manufacturing landscape, particularly in the context of the electric vehicle (EV) industry, emphasizing their advantages in lightweighting, recyclability, and safety performance [1][9]. Industry Overview - Thermoplastic composites are defined as composite materials made from thermoplastic polymers reinforced with various fibers, such as carbon and glass fibers, specifically applied in the EV sector [3]. - The market size for China's thermoplastic composites in the EV sector is projected to reach 13.4 billion yuan in 2024, with a year-on-year growth of 13.4%, and is expected to grow to 16.7 billion yuan by 2025 [1][9]. Industry Policies - Recent policies, such as the Shanghai government's action plan for high-quality development in low-altitude economy, emphasize the integration of advanced materials like thermoplastic composites into strategic development [4]. - The Ministry of Industry and Information Technology's plan for the construction materials industry supports the application of composite materials in various sectors, including automotive [5]. Industry Value Chain - The thermoplastic composites industry in China has established a complete value chain, from raw material supply (fibers and resins) to manufacturing and final application in EVs [6]. - Carbon fiber, a key reinforcement material, significantly enhances the mechanical properties and lightweight characteristics of composites, contributing to the performance of EV components [6]. Market Trends - The global market for thermoplastic composites in the EV sector is expected to grow from 52.11 million tons in 2024 to 58.28 million tons in 2025, and further to 94.35 million tons by 2030 [8][9]. - The rapid growth in EV production and sales in China, from 340,500 units in 2015 to 12.89 million units in 2024, drives the demand for thermoplastic composites [6]. Competitive Landscape - The industry features a mix of international leaders like DuPont and domestic players such as Kingfa Technology and Nanjing Julong, creating a diverse competitive environment [10]. - Kingfa Technology reported a revenue of 31.64 billion yuan in the first half of 2025, reflecting a year-on-year growth of 35.5% [11]. Future Development Trends - Innovations in material systems are anticipated, including the development of self-healing and shape-memory thermoplastic composites, enhancing safety and longevity [12]. - The integration of digital and biological manufacturing technologies is expected to revolutionize production processes, leading to intelligent upgrades in composite manufacturing [14]. - A new circular economy model is being proposed, focusing on programmable degradation materials and blockchain technology for material traceability, aligning with the environmental goals of the EV industry [15].

Market Overview - The glass fiber sector experienced a slight increase of 0.09% on October 22, with Sanxia New Materials leading the gains [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Stock Performance - Sanxia New Materials (600293) saw a significant rise of 10.00%, closing at 3.74 with a trading volume of 1.1355 million shares and a turnover of 411 million yuan [1] - Other notable performers included: - China National Materials (002080) up 2.56% to 32.45 with a turnover of 2.393 billion yuan [1] - Reascend Technology (603601) up 1.23% to 4.93 with a turnover of 140 million yuan [1] - International Composite Materials (301526) up 0.99% to 6.10 with a turnover of 632 million yuan [1] Capital Flow - The glass fiber sector saw a net inflow of 227 million yuan from institutional investors, while retail investors experienced a net outflow of 304 million yuan [2] - The capital flow for key stocks included: - China National Materials with a net inflow of 141 million yuan from institutional investors [3] - Sanxia New Materials with a net inflow of approximately 60.82 million yuan from institutional investors [3] - International Composite Materials with a net inflow of 52.68 million yuan from institutional investors [3]

Market Performance - The glass and fiberglass sector increased by 0.76% compared to the previous trading day, with Jiuding New Materials leading the gains [1] - The Shanghai Composite Index closed at 3863.89, up 0.63%, while the Shenzhen Component Index closed at 12813.21, up 0.98% [1] Stock Performance - Jiuding New Materials (002201) closed at 8.15, up 5.57% with a trading volume of 296,500 shares and a transaction value of 241 million yuan [1] - Other notable stocks include Changhai Co. (300196) at 14.32, up 2.65%, and Zhongcai Technology (002080) at 29.72, up 1.61% [1] Capital Flow - The glass and fiberglass sector saw a net inflow of 66.68 million yuan from main funds, while retail funds experienced a net inflow of 43.37 million yuan [2] - The sector's overall capital flow indicates a mixed sentiment, with main funds showing positive movement while speculative funds recorded a net outflow of 110 million yuan [2] Individual Stock Capital Flow - Zhongcai Technology (002080) had a main fund net inflow of 33.47 million yuan, while retail funds showed a net inflow of 1.77 million yuan [3] - Jiuding New Materials (002201) experienced a main fund net inflow of 16.87 million yuan but a significant retail outflow of 20.52 million yuan [3]