Core Viewpoint - The company announces the first notice regarding the optional redemption of its convertible bonds, "Shanbo Convertible Bonds," allowing bondholders to sell their bonds back to the company at a specified price during a designated period [1][2]. Group 1: Redemption Terms - Redemption Price: The redemption price is set at 100.30 RMB per bond, including the current interest [2][11]. - Redemption Rights: Bondholders can choose to redeem part or all of their unconverted bonds, and this redemption is not mandatory [2][8]. - Conditions for Redemption: The redemption rights are activated if the company's stock price remains below 70% of the conversion price for any consecutive thirty trading days during the last two interest years of the bonds [3][4]. Group 2: Redemption Period and Process - Redemption Period: The redemption period is from January 8, 2026, to January 14, 2026 [4][11]. - Payment Date: The payment date for the redeemed bonds is set for January 19, 2026 [12]. - Trading During Redemption: The bonds will continue to trade during the redemption period but will stop converting into shares [14]. Group 3: Interest Calculation - Interest Rate: The interest rate for the fifth year (November 8, 2025, to November 7, 2026) is 1.8%, with the interest calculated for 61 days leading up to the redemption date [7][6]. - Interest Amount: The calculated interest per bond is approximately 0.30 RMB, contributing to the total redemption price of 100.30 RMB [7].

"山玻转债"持有人可回售部分或全部未转股的可转换公司债券。"山玻转 债"持有人有权选择是否进行回售，本次回售不具有强制性。 本次满足回售条款而"山玻转债"持有人未在上述回售期内申报并实施回售 的，本计息年度（即 2025 年 11 月 8 日至 2026 年 11 月 7 日）不能再行使回售权。 风险提示：投资者选择回售等同于以 100.30 元/张卖出持有的"山玻转债"。 截至本公告发出前的最后一个交易日，"山玻转债"的收盘价格高于本次回售价格， 投资者选择回售可能会带来损失，敬请投资者注意风险。 证券代码：605006 证券简称:山东玻纤 公告编号：2025-086 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 关于"山玻转债"可选择回售的第一次提示性公告 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： 现依据《上市公司证券发行注册管理办法》《可转换公司债券管理办法》《上 海证券交易所股票上市规则》和本公司《可转换公司债券募集说明书》，就回售有 关事项向全体"山玻转债"持有人公 ...

Core Viewpoint - The company announces the right for holders of "Shanbo Convertible Bonds" to sell back part or all of their unconverted bonds during a specified period, with the option being non-mandatory for investors [1][7]. Group 1: Buyback Terms - Holders of "Shanbo Convertible Bonds" can sell back their bonds at a price of 100.30 RMB per bond, which includes accrued interest [4][11]. - The buyback period is set from January 8, 2026, to January 14, 2026, with funds to be disbursed on January 19, 2026 [4][12]. - The buyback conditions are triggered if the company's stock price remains below 70% of the bond's conversion price for 30 consecutive trading days [2][3]. Group 2: Interest Calculation - The interest for the buyback period is calculated based on a rate of 1.8% for the fifth year, resulting in approximately 0.30 RMB per bond for the 61 days leading up to the buyback [6][5]. - The formula for calculating accrued interest is provided, detailing the variables involved [5]. Group 3: Buyback Process - Bondholders must submit their buyback requests through the Shanghai Stock Exchange trading system during the specified buyback period [8][10]. - If a buyback request is not successful on the first day, bondholders can continue to submit requests on subsequent days within the buyback period [9]. Group 4: Trading During Buyback - "Shanbo Convertible Bonds" will continue to trade during the buyback period but will not allow conversion into shares [14]. - If the total face value of the bonds in circulation falls below 30 million RMB due to the buyback, trading will still continue until the end of the buyback period [14].

证券停复牌情况：适用 本次满足回售条款而"山玻转债"持有人未在上述回售期内申报并实施回 售的，本计息年度（即 2025 年 11 月 8 日至 2026 年 11 月 7 日）不能再行使回售 权。 证券代码：605006 证券简称：山东玻纤 公告编号：2025-085 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 关于"山玻转债"可选择回售的公告 重要内容提示： 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。 转债"持有人有权选择是否进行回售，本次回售不具有强制性。 风险提示：投资者选择回售等同于以 100.30 元/张卖出持有的"山玻转债"。 因回售期间，"山玻转债"停止转股,本公司的相关证券停复牌情况如下： 证券代码 证券简称 停复牌类型 停牌起始日 停牌 期间 停牌终止日 复牌日 111001 山玻转债 可转债转股停牌 2026/1/8 2026/1/14 2026/1/15 回售价格：100.30 元人民币/张（含当期利息） 回售期：2026 年 1 月 8 日至 2026 年 1 月 14 日 ...

Market Overview - The glass fiber sector experienced a decline of 1.83% on December 29, with Jiuding New Materials leading the drop [1] - The Shanghai Composite Index closed at 3965.28, up 0.04%, while the Shenzhen Component Index closed at 13537.1, down 0.49% [1] Stock Performance - Notable stock performances in the glass fiber sector include: - Honghe Technology: Closed at 38.02, up 1.12%, with a trading volume of 238,900 shares and a transaction value of 898 million [1] - Shandong Glass Fiber: Closed at 7.48, up 0.67%, with a trading volume of 65,300 shares and a transaction value of 48.48 million [1] - Jiuding New Materials: Closed at 11.21, down 9.96%, with a trading volume of 1,544,900 shares and a transaction value of 1.787 billion [2] Capital Flow - The glass fiber sector saw a net outflow of 1.142 billion from institutional investors, while retail investors had a net inflow of 850 million [2] - The capital flow for specific stocks indicates: - Jiuding New Materials had a significant net outflow of 4.216 million from institutional investors [3] - Shandong Glass Fiber experienced a net inflow of 535.81 thousand from institutional investors [3] Summary of Individual Stocks - Key stocks in the glass fiber sector and their respective capital flows include: - Jiuding New Materials: -4.216 million from institutions, -9.96% change [2][3] - Shandong Glass Fiber: +535.81 thousand from institutions, +0.67% change [2][3] - China Jushi: -3.01% change with a transaction value of 898 million [2]

Market Performance - The glass and fiberglass sector increased by 0.24% compared to the previous trading day, with Jiuding New Materials leading the gains [1] - The Shanghai Composite Index closed at 3963.68, up 0.1%, while the Shenzhen Component Index closed at 13603.89, up 0.54% [1] Stock Performance - Jiuding New Materials (002201) closed at 12.45, up 9.98% with a trading volume of 437,000 shares and a transaction value of 544 million [1] - Zais Technology (603601) also rose by 9.98% to close at 13.34, with a trading volume of 4.43 million shares and a transaction value of 5.795 billion [1] - Other notable performers include Sanxia New Materials (600293) up 5.66% and Jinjing Technology (600586) up 2.10% [1] Capital Flow - The glass and fiberglass sector experienced a net outflow of 1.389 billion from institutional investors, while retail investors saw a net inflow of 1.149 billion [2] - The overall capital flow indicates that retail investors are actively buying into the sector despite the institutional outflow [2] Individual Stock Capital Flow - Sanxia New Materials (600293) had a net inflow of 21.0753 million from institutional investors, while retail investors contributed a net inflow of 1.824 million [3] - Jiuding New Materials (002201) saw a net outflow of 17.2338 million from institutional investors but a net inflow of 12.6057 million from retail investors [3] - Other stocks like Yao Pi Glass (618009) and Changhai Co. (300196) faced significant net outflows from both institutional and retail investors [3]

Group 1 - The glass and fiberglass sector increased by 0.17% on December 25, with Jiuding New Materials leading the gains [1] - The Shanghai Composite Index closed at 3959.62, up 0.47%, while the Shenzhen Component Index closed at 13531.41, up 0.33% [1] - Jiuding New Materials saw a closing price of 11.32, with a significant increase of 10.01% and a trading volume of 65,200 shares, amounting to 73.80 million yuan [1] Group 2 - The glass and fiberglass sector experienced a net outflow of 294 million yuan from institutional investors, while retail investors saw a net inflow of 432 million yuan [2] - The trading data indicates that Jiuding New Materials had a net inflow of 30.28 million yuan from institutional investors, representing 41.03% of its trading volume [3] - In contrast, China Jushi experienced a decline of 1.19% in its stock price, closing at 16.59 with a trading volume of 439,900 shares, totaling 73.20 million yuan [2]

| 玻璃玻纤板块 涨幅前10个股 | | --- | 证券之星消息，12月24日玻璃玻纤板块较上一交易日上涨4.04%，九鼎新材领涨。当日上证指数报收于 3940.95，上涨0.53%。深证成指报收于13486.42，上涨0.88%。玻璃玻纤板块个股涨跌见下表： 从资金流向上来看，当日玻璃玻纤板块主力资金净流入11.91亿元，游资资金净流出4.98亿元，散户资金 净流出6.93亿元。玻璃玻纤板块个股资金流向见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002201 | 九鼎新材 | 10.29 | 10.05% | 21.23万 | 2.16亿 | | 603601 | 再升科技 | 11.03 | 9.97% | 217.61万 | 23.19亿 | | 002080 | 中材料技 | 40.36 | 6.46% | 106.51万 | 42.01亿 | | ...

Industry Overview - Glass fiber is an inorganic non-metallic material primarily composed of silica, alumina, and calcium oxide, known for its insulation, heat resistance, and corrosion resistance, widely used in construction, transportation, wind power, and electronics [1] - The glass fiber industry has strong linkages with upstream (minerals, chemicals, energy) and downstream sectors (transportation, construction, electronics, and emerging industries) [4] Industry Development - The history of China's glass fiber industry dates back to the late 1940s, with significant growth occurring in the late 1990s, leading to China holding over 50% of global glass fiber production capacity by the 21st century [7] - As of mid-2025, China's glass fiber production capacity is expected to reach 8.7 million tons, indicating ongoing capacity expansion [14] Policy Background - In 2023, various policies were introduced to encourage the development of high-performance glass fiber products, including the "Green Building Materials Industry High-Quality Development Implementation Plan" and "Guidance on Promoting the Recycling of Retired Wind Power and Photovoltaic Equipment" [11][13] Supply and Demand - China's glass fiber production capacity reached over 7.5 million tons in 2022, with a projected increase to 8.7 million tons by mid-2025, indicating a slowdown in capacity expansion [14] - The total production of glass fiber is expected to reach 7.56 million tons in 2024, reflecting a year-on-year growth of 4.6% [15] - The apparent consumption of glass fiber in China is projected to reach 5.64 million tons in 2024, with a year-on-year increase of 1.6% [24] Export and Import Trends - China's glass fiber export volume is expected to reach 2.02 million tons in 2024, the highest in a decade, while imports are projected to decline to 100,000 tons, indicating improved self-sufficiency [21] Revenue Trends - The main business revenue of large-scale glass fiber enterprises in China was approximately 114.8 billion yuan in 2023, with a slight decrease of 0.5% expected in 2024 [26] Competitive Landscape - China Jushi is the leading company in the glass fiber sector, with a revenue of 15.48 billion yuan from glass fiber-related businesses in 2024, while other companies like China National Materials, International Composites, and Changhai Co. also report revenues exceeding 1.5 billion yuan [29] - The major glass fiber companies are concentrated in Jiangsu, Shandong, Shanghai, Zhejiang, and Chongqing, with China Jushi located in Zhejiang [31] Future Development Trends - The industry is expected to phase out low-end capacities while high-end products like electronic-grade glass fiber will see increased demand due to advancements in technologies such as 5G and AI [34] - By 2030, the demand for glass fiber in China is projected to reach 6.54 million tons, driven by sectors like new energy vehicles, wind power, and advanced communication technologies [37]

Market Overview - The glass fiber sector increased by 2.59% on December 17, with Zhongcai Technology leading the gains [1] - The Shanghai Composite Index closed at 3870.28, up 1.19%, while the Shenzhen Component Index closed at 13224.51, up 2.4% [1] Stock Performance - Zhongcai Technology (002080) closed at 35.10, up 5.50%, with a trading volume of 777,200 shares and a turnover of 2.643 billion [1] - Honghe Technology (603256) closed at 35.35, up 5.30%, with a trading volume of 259,300 shares and a turnover of 888 million [1] - International Composite (301526) closed at 6.80, up 4.29%, with a trading volume of 1,706,100 shares and a turnover of 1.142 billion [1] - Other notable stocks include China Jushi (600176) at 15.30, up 1.86%, and Shandong Glass Fiber (605006) at 7.07, up 1.73% [1] Capital Flow - The glass fiber sector saw a net inflow of 428 million from institutional investors, while retail investors experienced a net outflow of 379 million [2] - The main stocks with significant net inflows include Zhongcai Technology with 313 million and International Composite with 151 million [3] - Retail investors showed a notable outflow from stocks like Honghe Technology, with a net outflow of 98.43 million [3]