Summary of Conference Call Industry Overview - The domestic sports turf market is benefiting from policies aimed at revitalizing the football economy, leading to a more than 20% year-on-year increase in artificial turf orders, with significant delivery volume growth expected in Q3 2025 [2][3] - The demand for domestic sports turf is projected to grow by over 20% in 2025, driven by the construction of sports venues and football fields [2][11] Company Insights - The company has terminated its IPO, which is expected to have a long-term negative impact on itself and the industry, although it has been able to increase its market share by approximately 2% last year, continuing this trend into the current year [2][6] - Raw material prices have shown a downward trend, positively impacting the company's performance in the first half of the year, with revenue growth outpacing sales growth [2][7] - The company’s orders are expected to grow overall in Q2 2025, primarily driven by the European and American markets, while the Asia-Pacific region's growth is limited due to the Israel-Palestine conflict [2][8] Market Dynamics - The artificial turf market is currently in a growth phase, with significant demand driven by sports events and government initiatives to promote football [3] - The majority of football fields use artificial turf, while natural grass is typically reserved for official matches [4][5] - The company’s sales strategy focuses on B2B sales through wholesalers and supermarkets, with no direct engagement in government projects [10] Competitive Landscape - The termination of the IPO by a competitor has created a more favorable competitive landscape for the company, allowing for potential market share and price improvements [6][16] - Domestic competition primarily comes from smaller companies in the light industry manufacturing sector, with limited market impact [9] Financial Performance - The company has seen a stable demand for both leisure and sports turf products, with the leisure turf expected to grow by over 20% this year due to increased penetration and application scenarios [4][21] - The company’s gross margin has improved, and it is expected to maintain a good level, particularly with the recent decline in raw material prices [16] Future Outlook - The company plans to focus on fully utilizing the newly built capacity in Vietnam without significant capital expenditure in the short term [14] - The company assesses that even with potential increases in U.S. tariffs, it can maintain a cost advantage over domestic U.S. manufacturers [15] - The demand for sports turf is anticipated to be strong in Q3 2025, with good order conditions expected [21] Additional Insights - The U.S. market is heavily dominated by Chinese companies, which hold approximately 80% to 90% market share, while local U.S. companies have a minimal presence [19] - The company’s product structure has shifted towards higher-priced orders from the European and American markets [17]

证券代码：605099 证券简称：共创草坪 公告编号：2025-027 江苏共创人造草坪股份有限公司（以下简称"公司"）股票价格于 2025 年 6 月 16 日、6 月 17 日和 6 月 18 日连续三个交易日内日收盘价格跌幅偏离值 累计超过 20%。根据上海证券交易所的相关规定，属于股票交易异常波动情形。 经公司自查并通过向控股股东、实际控制人书面发函查证，截至本公告 披露日，公司主营业务未发生变化，经营情况正常，不存在应披露而未披露的重 大事项。 相关风险提示：公司股票价格短期波动较大，敬请广大投资者注意二级 市场交易风险，理性决策，审慎投资。 一、股票交易异常波动的具体情况 公司股票价格于 2025 年 6 月 16 日、6 月 17 日和 6 月 18 日连续三个交易日 内日收盘价格跌幅偏离值累计超过 20%。根据《上海证券交易所交易规则》的相 关规定，属于股票交易异常波动情形。 二、公司关注并核实的相关情况 江苏共创人造草坪股份有限公司 股票交易异常波动公告 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。 ...

关于《江苏共创人造草坪股份有限公司股票交易异常波动 询证函》的回函 （本页无正文，为控股股东、实际控制人《关于<江苏共创人造草坪股份有限公 司股票交易异常波动询证函>的回函》之签署页 > 控股股东、实际控制人: 王强翔 致:江苏共创人造草坪股份有限公司 《江苏共创人造草坪股份有限公司股票交易异常波动询证函》本人已收悉, 作为江苏共创人造草坪股份有限公司的控股股东、实际控制人,现就贵公司询 证事项回复如下: 一、截至目前,本人不存在涉及贵公司的应披露而未披露的重大信息,包 括但不限于重大资产重组、发行股份、上市公司收购、债务重组、业务重组、 资产剥离、资产注入、股份回购、股权激励、破产重整、重大业务合作、引进 战略投资者等重大事项。 二、在本次股票交易异常波动期间,本人不存在买卖贵公司股票的情形。 特此函复。 (以下无正文) t and the state 2025年 6月 18日 . ...

Market Overview - On June 16, the A-share market experienced a rebound, with the ChiNext Index leading the gains. The Shanghai Composite Index rose by 0.35%, the Shenzhen Component Index increased by 0.41%, and the ChiNext Index gained 0.66% [1][2] - The total trading volume in the Shanghai and Shenzhen markets was 1.22 trillion yuan, a decrease of 252.2 billion yuan compared to the previous trading day [1] Sector Performance - The IP economy concept showed strong performance, with multiple stocks like Light Media hitting the daily limit [1] - Stablecoin concepts also gained traction, with stocks such as GCL-Poly Energy and Hengsheng Electronics reaching the daily limit [1] - The chemical sector was active, with stocks like Jinniu Chemical hitting the daily limit [1] - Oil and gas stocks continued their strong performance, with Zhun Oil shares reaching the daily limit [1] - In contrast, the football concept experienced fluctuations, with stocks like Co-Creation Lawn nearing a trading halt [1] - The digital currency, film, CPO, and oil sectors saw significant gains, while precious metals, automotive, airports, and shipping sectors faced declines [1] International Market - The U.S. stock market saw all three major indices rise on June 16, with the Dow Jones Industrial Average up by 317.30 points (0.75%), the S&P 500 up by 56.14 points (0.94%), and the Nasdaq Composite up by 294.39 points (1.52%) [3][4] - European markets also experienced gains, with the FTSE 100 up by 24.59 points (0.28%), the CAC 40 up by 57.56 points (0.75%), and the DAX up by 182.89 points (0.78%) [3][4] - International oil prices fell, with WTI crude oil down by $1.21 to $71.77 per barrel (1.66% decline) and Brent crude down by $1.00 to $73.23 per barrel (1.35% decline) [3][4] Key Announcements - The Ministry of Finance announced that from July 1, Dalian and Hubei provinces will implement a tax refund policy for overseas travelers shopping [5] - The Ministry of Agriculture and Rural Affairs introduced measures to enhance crop variety management and accelerate the breeding of breakthrough new varieties [6] - Guangdong Province aims to significantly enhance its nuclear medical industry by 2030, focusing on innovation and key technology breakthroughs [7] - The People's Bank of China will issue 30 billion yuan in central bank bills in Hong Kong on June 18 [8][9] - The National Medical Products Administration is optimizing the review process for innovative drug clinical trials, aiming for a 30-day review period [10] Industry Insights - The film industry is expected to see significant growth, with the release of "Nezha 2" potentially contributing over 200 billion yuan to GDP and generating substantial merchandise sales [11] - Analysts suggest that the A-share market is likely to maintain a volatile trend in the short term, with structural opportunities to be identified [12] - In the long term, external uncertainties may pose challenges, but domestic economic resilience is expected to strengthen due to ongoing policy support [12] - Investment strategies should focus on high-margin assets, technology sectors, and consumer sectors benefiting from policy boosts [13]

Group 1 - The stock of Gongchuang Turf (605099) fell by 9.56% today, with a turnover rate of 5.08% and a trading volume of 834 million yuan, showing a fluctuation of 9.01% [2] - The stock was listed on the Shanghai Stock Exchange's "Dragon and Tiger List" due to a daily price deviation of -9.90%, with a net sell-off of 14.83 million yuan from the Shanghai-Hong Kong Stock Connect [2] - The top five trading departments on the list had a total transaction amount of 155 million yuan, with a buying amount of 51.62 million yuan and a selling amount of 103 million yuan, resulting in a net sell-off of 51.72 million yuan [2][3] Group 2 - In the past six months, the stock has appeared on the "Dragon and Tiger List" five times, with an average price increase of 5.01% the day after being listed and an average increase of 20.23% in the following five days [3] - The stock experienced a net outflow of 97.77 million yuan in main funds today, with a significant outflow of 84.91 million yuan from large orders and 12.86 million yuan from medium orders, totaling a net outflow of 199 million yuan over the past five days [3] - The company's Q1 report released on April 28 showed a revenue of 793 million yuan, a year-on-year increase of 15.27%, and a net profit of 156 million yuan, a year-on-year increase of 28.73% [3]

Core Viewpoint - The news highlights the contrasting fortunes of the artificial turf industry, with the rise of certain companies like Co-Creation Turf and the failure of Qingdao Qinghe to successfully list on the A-share market, primarily due to financial instability and operational challenges. Group 1: Market Performance - Since the start of the Scottish Super League in May, the football concept stocks have surged, with a cumulative increase of 15.72% in June, while Co-Creation Turf's stock price rose over 80% in the same month [1] - Qingdao Qinghe, the world's second-largest artificial turf company, announced the withdrawal of its IPO application after three years of efforts [1] Group 2: Operational Challenges - Qingdao Qinghe's strategy focused on overseas expansion has led to operational issues and significant debt, resulting in high pressure on its cash flow [2] - The company has faced rising hidden costs in overseas production due to labor cost increases and safety issues, impacting profitability [2] - A fire at Qingdao Qinghe's Mexican factory caused a loss of approximately 59.63 million yuan, equivalent to 43.85% of its net profit for the first half of 2024 [2] Group 3: Financial Performance - Despite continuous revenue growth, Qingdao Qinghe's accounts receivable reached 490 million yuan, accounting for 20.58% of total assets, indicating potential cash flow issues [3] - The company has experienced significant fluctuations in profit due to a consistently low gross profit margin compared to industry averages [3] Group 4: Competitive Position - Qingdao Qinghe has lost a substantial number of clients, with 555 clients exiting compared to only 237 new clients, leading to an 11.81% revenue loss from exiting clients [4] - The company's low research and development investment, at only 1.50%, contributes to its lack of product pricing power despite holding 80 patents as a FIFA supplier [5] Group 5: Funding and Debt Issues - Qingdao Qinghe has increasingly relied on high-interest loans, with borrowing rates reaching as high as 40%, exacerbating its financial strain [6] - The company planned to raise 1.09 billion yuan through its IPO, with a significant portion allocated to its Vietnamese production base and working capital, indicating a need for financial survival rather than growth [8]

Group 1 - The core viewpoint of the article highlights the unsustainable nature of the "Su Super" concept rally, as the fundamental support for the stock price of Gongchuang Turf is lacking [1][4] - Gongchuang Turf's stock price surged over 116% in the past month, driven by speculative trading rather than solid business fundamentals [2][4] - The company's sports turf business only accounts for 20.25% of its revenue, indicating a weak connection to the "Su Super" concept [1][4] Group 2 - The stock experienced extreme volatility, with a daily trading range exceeding 11% on June 11, showcasing the intense tug-of-war between bullish and bearish forces [2][3] - Recent trading data shows a significant increase in trading volume and turnover, with daily turnover reaching 9.92 billion yuan on June 11, a 27-fold increase compared to the previous month [2][3] - Institutional investors have begun to exit, with net sales exceeding 46 million yuan on June 9, signaling a potential shift in market sentiment [3][4] Group 3 - The company's main business is the research, development, manufacturing, and sales of artificial turf, with a significant portion of its revenue coming from international markets [4][7] - The domestic market's contribution to revenue is minimal, with only 11.09% of sales coming from domestic operations, further questioning the sustainability of the stock price rally [4][7] - Despite the hype surrounding the "Su Super" concept, the actual impact on Gongchuang Turf's performance is limited, as indicated by the company's own disclosures [1][8]

Core Viewpoint - The stock price of Global Turf (共创草坪) surged by 91.18% from May 30 to June 10, 2025, amid rising interest in the "Soochow Super League" concept, despite the company's low revenue contribution from sports turf products [1][4]. Company Performance - As of June 11, the market value of shares held by the controlling shareholder Wang Qiangxiang and his investment firm increased by over 5 billion yuan [3]. - The company reported that its domestic sports turf revenue accounts for only about 20% of total revenue, with domestic market contributions at approximately 11% [4][10]. Stock Trading Activity - During the stock price surge, the trading turnover rate remained low, with a rate of 3.08% on June 10 and an average of 2.26% during the surge period [5]. - Wang Qiangxiang and his family hold a significant stake of 89.65% in the company, which contributes to the low trading activity as they rarely trade their shares [8]. Industry Context - China accounts for over 60% of the global artificial turf production capacity, with Global Turf being the largest producer [9][10]. - The global demand for artificial turf was 393 million square meters in 2023, with sales reaching 3.219 billion euros, projected to grow to 4.141 billion euros by 2027, reflecting a compound annual growth rate of 6.50% [9]. Production Capacity and Challenges - Global Turf has five production bases, with a total production capacity of 116 million square meters of artificial turf as of the end of 2024 [12]. - The company is facing capacity bottlenecks and is planning expansions in Vietnam and Mexico to enhance production capabilities [11][15]. Environmental Initiatives - The company has developed recyclable turf products in response to industry challenges such as environmental concerns and is positioned to benefit from tightening environmental regulations [16].

Group 1 - A-share football concept stocks experienced a sharp rise in the afternoon session, with Shuhua Sports hitting the daily limit [1] - Yue Media achieved a three-day consecutive limit-up, indicating strong investor interest [1] - Xinghui Entertainment rose over 6.5%, while Tianfu Cultural Tourism increased by more than 5%, reflecting positive market sentiment [1] Group 2 - Other stocks such as Gongchuang Lawn and Jinpu Garden also saw gains, suggesting a broader rally in the football-related sector [1]

证券代码：605099 证券简称：共创草坪 公告编号：2025-026 江苏共创人造草坪股份有限公司 股票交易风险提示性公告 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： 二级市场交易风险：江苏共创人造草坪股份有限公司（以下简称"公司"） 股票价格于 2025 年 5 月 30 日至 6 月 10 日连续 7 个交易日涨停，累计涨幅达到 91.18%，2025 年 6 月 10 日换手率达 3.08%，此期间平均换手率为 2.26%，日均 换手率水平明显放大，短期交易活跃度呈现出非理性持续上涨态势。公司股票价 格在近期持续大幅攀升，换手率和成交额也急剧放大，远超前期正常水平，短期 涨幅与同期上证指数相比存在严重偏离，非理性波动特征极为显著，市场情绪明 显过热，敬请广大投资者注意二级市场交易风险。 股价偏离合理估值的风险：截至 2025 年 6 月 10 日收盘，公司基本面未 发生重大变化，但公司最新的市盈率、市净率等指标较此前已有大幅提升，公司 市净率为 6.68，已远高于公司所属证监会行业分类"C24 ...