格隆汇8月4日丨芳源股份(688148.SH)公布，公司于2025年8月4日召开第四届董事会第二次会议，审议 通过了《关于回购股份集中竞价减持计划的议案》。根据《上海证券交易所上市公司自律监管指引第7 号——回购股份》的规定以及公司于2024年2月28日在上海证券交易所网站上披露的《关于以集中竞价 交易方式回购公司股份的回购报告书》的有关要求，为补充公司日常经营所需要的流动资金，公司计划 按照市场价格，通过集中竞价交易方式减持回购股份合计不超过3,320,000股（不超过公司总股本的 0.65%），减持期间为自本公告披露之日起15个交易日后的3个月内。 ...

（记者 胡玲） 截至发稿，芳源股份市值为29亿元。 每经头条（nbdtoutiao）——"我们也深陷残酷价格战"！德资巨头中国区高管警告：智驾绝不能免费， 否则会给全行业带来灾难 每经AI快讯，芳源股份（SH 688148，收盘价：5.7元）8月4日晚间发布公告称，公司于2025年8月4日召 开第四届董事会第二次会议，审议通过了《关于回购股份集中竞价减持计划的议案》。为补充公司日常 经营所需要的流动资金，公司计划按照市场价格，通过集中竞价交易方式减持回购股份合计不超过332 万股，减持期间为自本公告披露之日起15个交易日后的3个月内。 2024年1至12月份，芳源股份的营业收入构成为：计算机和通信和其他电子设备制造业占比87.27%，其 他业务占比12.73%。 ...

减持计划的主要内容 公司于 2025 年 8 月 4 日召开第四届董事会第二次会议，审议通过了《关于 回购股份集中竞价减持计划的议案》。根据《上海证券交易所上市公司自律监管 指引第 7 号——回购股份》的规定以及公司于 2024 年 2 月 28 日在上海证券交易 所网站（www.sse.com.cn）上披露的《关于以集中竞价交易方式回购公司股份的 回购报告书》（公告编号：2024-011）（以下简称《回购报告书》）的有关要求， 为补充公司日常经营所需要的流动资金，公司计划按照市场价格，通过集中竞价 交易方式减持回购股份合计不超过 3,320,000 股（不超过公司总股本的 0.65%）， 减持期间为自本公告披露之日起 15 个交易日后的 3 个月内。 | 证券代码：688148 | 证券简称：芳源股份 | 公告编号：2025-042 | | --- | --- | --- | | 转债代码：118020 | 转债简称：芳源转债 | | 广东芳源新材料集团股份有限公司 关于回购股份集中竞价减持股份计划公告 本公司董事会、全体董事及相关股东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 ...

人民财讯8月4日电，芳源股份(688148)8月4日晚间公告，为补充公司日常经营所需要的流动资金，公司 计划按照市场价格，通过集中竞价交易方式减持回购股份合计不超过332万股(不超过公司总股本的 0.65%)，减持期间为自本公告披露之日起15个交易日后的3个月内。 ...

芳源股份公告，公司回购专用证券账户拟通过集中竞价方式减持回购股份不超过332万股，占公司总股 本0.65%，减持期间为2025年8月26日至2025年11月25日，所得资金用于补充公司日常经营所需要的流 动资金。 ...

Core Viewpoint - The company is undergoing a transformation from reliance on a single product and customer to a diversified product and customer base, focusing on high-nickel and high-end products [2] Group 1: Company Overview - The company has diversified its product offerings to include precursors, sulfates, and lithium carbonate, achieving a more balanced product structure [2] - The company has developed high-nickel NC precursors, which began shipping in 2024, and has seen rapid growth in this area, primarily used in intelligent equipment [2] - The company has made technological breakthroughs in efficient nickel-lithium separation, leading to lower procurement costs and improved product quality [2] Group 2: Financial Performance - The company has experienced continuous losses over the past two years due to intensified market competition, declining sales volume in the ternary precursor business, and increased fixed costs from newly established production lines [3] - The company is actively seeking transformation to mitigate the negative impacts of declining NC precursor sales, with production line upgrades nearly completed [3] - The company's Q1 2025 report shows a main revenue of 407 million, a year-on-year decrease of 3.13%, and a net profit loss of approximately 49.65 million, a decline of 805.8% [11] Group 3: Product and Technology - The company has been producing high-nickel precursors since 2015 and has supplied them in bulk since 2017, while also exploring 5-series precursors, which have lower profit margins [4] - The company is focusing on high-nickel ternary systems for solid-state battery development, leveraging its existing advantages in this area [5] Group 4: Customer Base and Market Position - The company primarily serves customers in the positive material sector, extending to battery cell manufacturers and end-user robotics clients [6] - The company has gained a first-mover advantage in intelligent equipment by collaborating with clients on product development since 2022 [7] Group 5: Financial Stability - The company maintains a good credit status and stable banking relationships, with no significant obstacles to renewing credit lines [9] - The company is focused on optimizing cash flow management and enhancing asset quality to meet bank credit requirements [9]

Core Viewpoint - The announcement details the completion of the board restructuring and changes in key management personnel at Guangdong Fangyuan New Materials Group Co., Ltd. The company maintains its credit ratings despite these changes, indicating stability in its operations and financial status [1][3]. Group 1: Company Board Changes - The company held its first extraordinary general meeting on July 21, 2025, to elect members of the fourth board of directors [1]. - New board members include He Biling, Zhang Bin, Zhong Changhong, and Zhu Zhijun, while independent directors Deng Wenbing and Liang Jianbang were also appointed [2]. - Former independent directors Yang Deming and Zou Yubing, along with several non-independent directors, have stepped down, although some remain in other roles within the company [2]. Group 2: Credit Rating and Financial Outlook - China Chengxin Credit Rating Co., Ltd. has decided to maintain the company's credit rating at BBB with a stable outlook, reflecting confidence in the company's management stability and operational performance [3]. - The credit rating for the "Fangyuan Convertible Bond" is also retained at BBB, valid until July 26, 2025 [3]. - The company’s management stability, operational performance, and debt repayment pressure will continue to be closely monitored by the rating agency [3]. Group 3: Rating Model and Financial Assessment - The rating model used for assessment includes various scoring factors, with the macro environment rated at 4/5 and industry risk at 4/7 [5][6]. - The financial condition is assessed with a score of 1/9, indicating significant concerns in this area, while liquidity is rated at 4/7 [6]. - Overall, the company's individual credit status is rated as bbb, with the main credit rating remaining at BBB [6].

中证鹏元资信评估股份有限公司 中证鹏元公告【2025】366 号 中证鹏元关于关注广东芳源新材料集团股份有限公司董事 会完成换届选举暨部分董事、高管人员变动事项的公告 | | | 主体等级 | 债项等级 | 评级展望 | | --- | --- | --- | --- | --- | | 债券简称 芳源转债 | 上一次评级时间 2025 年 6 月 23 日 | BBB | 上一次评级结果 BBB | 稳定 | | 姓名 | 职务 | 任职日期 | | --- | --- | --- | | 罗爱平 | 董事长,董事 | 2016-03-30 | | 吴芳 | 董事 | 2016-11-14 | | 贺必林 | 董事 | 2025-07-21 | | 张斌 | 董事 | 2025-07-21 | | 钟长宏 | 董事 | 2025-07-21 | | 朱志军 | 职工代表董事 | 2025-07-21 | | 白书立 | 独立董事 | 2024-01-10 | | 邓文兵 | 独立董事 | 2025-07-21 | | 梁健帮 | 独立董事 | 2025-07-21 | 公司董事会变化中，杨德明、邹育兵不再担 ...

Group 1 - The report is prepared by China International Capital Corporation as the trustee manager for the convertible bonds issued by Guangdong Fangyuan New Materials Group Co., Ltd [2][3] - The bonds were approved by the company's board meetings and the first extraordinary general meeting of shareholders in 2022 [3][4] - The issuance of the convertible bonds was approved by the Shanghai Stock Exchange and registered with the China Securities Regulatory Commission [4] Group 2 - The total issuance scale of the convertible bonds is RMB 642 million, with a total of 6,420,000 bonds issued at a face value of RMB 100 each [5] - The bonds have a term of six years, from September 23, 2022, to September 22, 2028, with an annual interest rate that increases over the years [6][7] - The initial conversion price for the bonds is set at RMB 18.62 per share, with the current conversion price at RMB 18.63 per share [12] Group 3 - The credit rating for the bonds is A+, with a stable outlook, as assessed by Zhongjian Pengyuan Credit Rating Co., Ltd [8] - The credit rating was later adjusted to BBB, maintaining a stable outlook [8] - The bonds are unsecured and do not have any guarantees [9] Group 4 - The company has undergone a change in its registered address and has eliminated its supervisory board, transferring some responsibilities to the audit committee of the board [10] - The fourth board of directors was elected on July 21, 2025, with a term of three years [11] - The new management team includes a president and several vice presidents, with specific roles outlined [12][13]

股票代码：688148 股票简称：芳源股份 债券代码：118020 债券简称：芳源转债 广东芳源新材料集团股份有限公司 向不特定对象发行可转换公司债券 第三次临时受托管理事务报告 （2025 年度） 债券受托管理人 二〇二五年七月 重要声明 （一）债券名称：广东芳源新材料集团股份有限公司向不特定对象发行可 转换公司债券 （二）债券简称：芳源转债 （三）债券代码：118020 本报告依据《公司债券发行与交易管理办法》《关于广东芳源新材料集团股 份有限公司向不特定对象发行可转换公司债券之债券受托管理协议》（以下简称 "《受托管理协议》"）《广东芳源新材料集团股份有限公司向不特定对象发行可 转换公司债券募集说明书》（以下简称"《募集说明书》"）等相关规定，由本次 债券受托管理人中国国际金融股份有限公司编制。中金公司编制本报告的内容及 信息均来源于广东芳源新材料集团股份有限公司提供的资料或说明。 本报告不构成对投资者进行或不进行某项行为的推荐意见，投资者应对相关 事宜做出独立判断，而不应将本报告中的任何内容据以作为中金公司所作的承诺 或声明。在任何情况下，投资者依据本报告所进行的任何作为或不作为，中金公 司不承担任何 ...