上市首日，海正生材盘中最高报23.78元，为上市以来最高价。目前该股处于破发状态。 海正生材首次公开发行募集资金总额84,516.75万元，扣除发行费用后，募集资金净额为75,086.12万元。 海正生材最终募集资金净额比原计划少57,501.88万元。海正生材于2022年8月11日披露的招股书显示， 公司拟募集资金132,588.00万元，分别用于年产15万吨聚乳酸项目、研发中心建设项目。 根据公告，持股5%以上股东中国石化集团资本有限公司（以下简称"中石化资本"）因经营发展资金需 求，计划自公告披露之日起十五个交易日后的三个月内，通过集中竞价交易方式减持不超过2,026,780 股，占公司总股本比例不超过1%。上述股份减持价格按减持实施时的市场价格确定。 截至公告披露日，中石化资本持有海正生材15,686,274股，占公司总股本的7.74%。上述股份为公司首 次公开发行前取得的股份，并已于2024年2月19日起上市流通。中石化资本为海正生材第二大股东。 本次股份减持计划不会对公司治理结构及持续经营产生重大影响。本次减持计划实施不会导致上市公司 控制权发生变更。 海正生材于2022年8月16日在上交所科创板 ...

Important Announcements - Sinopec's controlling shareholder has increased its stake by 302 million H-shares, accounting for 0.25% of the total issued shares, with an investment of HKD 1.232 billion [4] - Shenghe Resources plans to acquire Peak Rare Earths Limited for AUD 158 million (approximately RMB 74.26 million), focusing on the Ngualla rare earth project in Tanzania [5] - Qibin Group has terminated the acquisition of 28.78% equity in its subsidiary Qibin Solar Energy due to changes in market conditions and transaction cycles [8] - Baofeng Energy intends to repurchase shares worth between RMB 1 billion and 2 billion, with a repurchase price not exceeding RMB 22.8 per share [9] - Hongjing Technology has signed a service contract for a smart computing project worth RMB 563 million [13] Shareholder Actions - Huate Gas shareholders plan to reduce their holdings by up to 2% of the company's shares, totaling no more than 2.4 million shares [6] - Haizheng Materials' shareholder, Sinopec Group Capital, intends to reduce its stake by up to 1% of the total shares, approximately 202,680 shares [2] - New Times plans for its directors and deputy general manager to collectively reduce their holdings by up to 0.3% of the company's shares [10] - Jingquan Hua's actual controller and board members plan to reduce their holdings by up to 1.67% of the company's shares [11] Project Developments - China National Petroleum Engineering's subsidiary has won a contract for an overseas project worth RMB 11.538 billion, involving the construction of a gas processing facility in Iraq [3] - Hainan Haicong New Materials is set to establish a new company with a registered capital of RMB 25 million to develop an aluminum alloy door and window project with an investment of RMB 55 million [17] - Huakang Clean has signed a construction contract worth RMB 143 million for a hospital project [18]

证券代码：688203 证券简称：海正生材 公告编号：2025-29 浙江海正生物材料股份有限公司 股东减持股份计划公告 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，并对其内容的真实性、准确性和完整性依法承担法律 责任。 重要内容提示： 大股东持股的基本情况 截至本公告披露日，浙江海正生物材料股份有限公司（以下简称"公 司"或"海正生材"）持股 5%以上股东中国石化集团资本有限公司（以下 简称"中石化资本"）持有公司股份 15,686,274 股，占公司总股本的 7.74%。 上述股份为公司首次公开发行前取得的股份，并已于 2024 年 2 月 19 日起 上市流通。 减持计划的主要内容 因经营发展资金需求，中石化资本计划拟自本公告披露之日起十五个 交易日后的三个月内，通过集中竞价交易方式减持不超过 2,026,780 股， 占公司总股本比例不超过 1%。上述股份减持价格按减持实施时的市场价格 确定。在减持计划实施期间，公司若发生送股、资本公积金转增股本、增 发新股或配股等变动事项，减持股份数量将根据公司届时最新的总股本数 量及减持计划比例进行相应调整。 | 股 ...

证券代码：688203 证券简称：海正生材 公告编号：2025-28 ● 调整原因：自 2024 年年度利润分配方案披露之日起至本公告披露日，浙 江海正生物材料股份有限公司（以下简称"公司"）通过上海证券交易所交易系 统以集中竞价方式实施股份回购，故本次实际参与利润分配的股份数量发生变 动。公司按照分配总额不变的原则，相应调整每股分配比例，对 2024 年度利润 分配方案每股现金分红金额进行相应调整。 一、调整前利润分配方案 公司于 2025 年 4 月 11 日召开了第七届董事会第十四次会议、第七届监事会 第十一次会议，并于 2025 年 5 月 8 日召开了 2024 年年度股东大会，会议审议通 过了《2024 年度利润分配预案》。本次利润分配方案如下： 公司 2024 年度拟以实施权益分派股权登记日登记的总股本扣除公司回购专 用证券账户股份数后的股本为基数分配利润，拟向全体股东每 10 股派发现金 0.60 元（含税）。截至公司 2024 年度利润分配方案披露日，公司总股本 202,678,068 股扣除公司回购专用证券账户股份 1,256,874 股后的股本基数为 201,421,194 股，以此计算 ...

海正生材公告，持股5%以上股东中国石化集团资本有限公司计划减持不超过202.68万股，占公司总股 本比例不超过1%。 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 10.75 CNY based on a 2025 comparable company average P/E ratio of 43 times [2][3]. Core Views - The domestic polylactic acid (PLA) industry is facing intensified competition, leading to downward pressure on product prices and consequently affecting profit margins. The company has adjusted its profit forecasts for 2025-2027, with expected earnings per share of 0.25, 0.32, and 0.42 CNY respectively [2][9]. - Despite achieving record sales volumes, the company's profitability is under pressure due to price declines in PLA products. The company is focusing on increasing production efficiency and exploring new applications, particularly in the rapidly growing 3D printing sector, where PLA resin sales are expected to increase significantly [9][10]. Financial Performance Summary - The company reported a revenue of 753 million CNY in 2023, with a projected increase to 1,030 million CNY in 2025, reflecting a compound annual growth rate (CAGR) of 21.8% [7]. - The net profit attributable to the parent company is expected to decline from 44 million CNY in 2023 to 36 million CNY in 2024, before recovering to 52 million CNY in 2025, indicating a volatile profit trajectory [7][9]. - The gross margin is projected to stabilize around 13.0% in 2025, with net profit margins improving gradually to 5.0% by 2025 [7][9]. Market Dynamics - The report highlights that the PLA import pressure may ease due to recent tariff changes affecting imports from the U.S., which could reduce the overall import volume of PLA into China [9]. - The company is expected to continue developing new products and applications to enhance competitiveness, particularly in the 3D printing market, which has shown robust demand growth [9].

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 10.75 CNY based on a 2025 estimated P/E ratio of 43 times [2][3]. Core Views - The domestic polylactic acid (PLA) industry is facing intensified competition, leading to downward pressure on product prices and profit margins. The company's profit forecasts for 2025-2027 have been adjusted to 0.25, 0.32, and 0.42 CNY per share, respectively [2][9]. - Despite achieving record sales volumes, the company's profitability is under pressure due to price declines in PLA products. The company is focusing on increasing production efficiency and exploring new applications, particularly in the rapidly growing 3D printing sector [9][10]. - The report highlights that the company's sales of pure PLA and modified PLA increased by 34.20% and 4.80% year-on-year, respectively, contributing to a historical high in total sales volume [9][10]. Financial Performance Summary - The company reported a revenue of 753 million CNY in 2023, with a projected increase to 1,030 million CNY in 2025, reflecting a year-on-year growth of 21.8% [7][12]. - The net profit attributable to the parent company is expected to recover from a decline in 2024, with projections of 52 million CNY in 2025, representing a growth of 45.1% [7][12]. - The gross margin is projected to stabilize around 13.0% in 2025, with a net margin of 5.0% [7][12]. Market Dynamics - The report notes that the PLA import pressure may ease due to recent tariff increases on imports from the U.S., which could impact the overall import volume of PLA into China [9][10]. - The company is actively developing specialized resins for the 3D printing market, which has seen a significant demand increase, with sales in this segment expected to grow by 185.67% [9][10].

海正生材是全球第二家、中国第一家实现聚乳酸商业化生产的企业，也是我国第一家专业从事聚乳酸业务的上市公司，聚乳酸国家标 准第一起草单位，荣获国家级专精特新"小巨人"、国家高技术产业化示范工程、省科学技术进步二等奖、国内首批新材料应用、省知 识产权奖发明一等奖等荣誉。 公司现有主要产品为聚乳酸树脂，它是一种颠覆性的生物基替代石油产品，也是目前唯一一种在成本和性能上可与石油基产品相竞争 的21世纪"绿色"材料，为破解人类社会面临的资源与环境的重大挑战提供完全可行的解决方案。聚乳酸主要以玉米、木薯、甜菜等可 再生的生物质为原料，经微生物发酵制成乳酸，再以乳酸为原料提取丙交酯，以及丙交酯聚合形成聚乳酸，聚乳酸可以在膜袋包装、 一次性餐具、3D打印材料、纤维和织物、工程塑料等众多领域使用。另外，聚乳酸制品使用后置于堆肥条件下快速降解为二氧化碳和 水，随后在光合作用下又可以生成淀粉，再应用于下一次聚乳酸的生产，便形成了聚乳酸碳循环经济，符合国家战略导向。 5月9日，海正生材（688203.SH）凭借在ESG领域的积极实践和突出表现，Wind ESG跃升至A级，显示出公司在可持续发展方面取得 的可喜进展。公司于2025年4月 ...

北京康达（杭州）律师事务所 BEIJING KANGDA（HANGZHOU）LAW FIRM 电话/Tel.:0571-85779929 传真/Fax:0571-85779955 网址/Website:www.kangdalawyers.com 北京 西安 深圳 海口 上海 广州 杭州 沈阳 南京 天津 菏泽 成都 苏州 呼和浩特 香港 武汉 郑州 长沙 厦门 重庆 合肥 宁波 济南 昆明 北京康达（杭州）律师事务所 关于浙江海正生物材料股份有限公司 杭州市上城区西子国际中心 2 号楼 1501-1503 室 邮编：310020 法律意见书 康达(杭州)股会字【2025】第 0009 号 二〇二五年五月 2024 年年度股东会的 北京康达（杭州）律师事务所 海正生材 2024 年年度股东会法律意见书 北京康达（杭州）律师事务所 关于浙江海正生物材料股份有限公司 2024 年年度股东会的法律意见书 康达(杭州)股会字【2025】第 0009 号 致：浙江海正生物材料股份有限公司 北京康达（杭州）律师事务所（下称"本所"）接受浙江海正生物材料股份 有限公司（下称"海正生材"或"公司"）委托，指派本所律师出席公司 ...

证券代码：688203 证券简称：海正生材 公告编号：2025-27 浙江海正生物材料股份有限公司 2024年年度股东会决议公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要内容提示： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （三） 出席会议的普通股股东及其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 73 | | --- | --- | | 普通股股东人数 | 73 | | 2、出席会议的股东所持有的表决权数量 | 125,859,470 | | 普通股股东所持有表决权数量 | 125,859,470 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比例 | 62.5370 | | （%） | | | | | 注：截至本次股东会股权登记日，公司总股本为 202,678,068 股，其中公司回购专用账户的 股份数量为 1,422,364 股，该等回购的股份不享有表决权，故本次股东会享有表决权的股份 总数为 201,255,704 股。 （四） 表决方式是否符合《公司法》及 ...