Group 1 - The article discusses the upcoming IPOs and their details, including the issuance price and market capitalization [1] - It highlights the strategic partnership between Lepu Medical and Hanhai Information Technology, focusing on market promotion and operations in the medical aesthetics sector [1] - The article mentions the collaboration between Tianci Materials and Ruipu Lanjun, indicating a potential growth opportunity [1] Group 2 - The article provides information on convertible bonds, including their current prices, redemption prices, and last trading dates [3][6] - It lists various convertible bonds with their respective market values and conversion ratios, indicating the financial health and market positioning of the companies involved [3][6] - The article emphasizes the importance of monitoring convertible bond performance as part of investment strategies [6]

证券日报网讯 9月22日晚间，中复神鹰发布公告称，本次股票上市类型为首发限售股份；股票认购方式 为网下，上市股数为298，399，282股。本次股票上市流通总数为298，399，282股。限售期为自公司股 票上市之日起42个月。本次股票上市流通日期为2025年10月9日（因2025年10月6日为非交易日，故顺延 至下一交易日）。 （编辑 楚丽君） ...

证券代码：688295 证券简称：中复神鹰 公告编号：2025-038 中复神鹰碳纤维股份有限公司 2025年第二次临时股东大会决议公告 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 （一） 股东大会召开的时间：2025 年 9 月 22 日 （二） 股东大会召开的地点：江苏省连云港市经济技术开发区大浦工业区公司 会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 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 | 106 | | --- | --- | | 普通股股东人数 | 106 | | 2、出席会议的股东所持有的表决权数量（股） | 804,478,243 | | 普通股股东所持有表决权数量（股） | 804,478,243 | | 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 | 89.3864 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 89. ...

北京市嘉源律师事务所 关于中复神鹰碳纤维股份有限公司 2025年第二次临时股东大会的法律意见书 嘉源(2025)-04-700 北京市嘉源律师事务所 关于中复神鹰碳纤维股份有限公司 2025年第二次临时股东大会的 法律意见书 嘉源律师事务所 JIA YUAN LAW OFFICES 西城区复兴门内大街 158 号远洋大厦 4 楼 中国·北京 浪律师事务所 A YUAN LAW OFFICES 北京 BEIJING·上海 SHANGHAI·深圳 SHENZHEN·香港 HONG KONG·广州 GUANGZHOU·西安 XI'AN 致:中复神鹰碳纤维股份有限公司 北京市嘉源律师事务所(以下简称"本所")接受中复神鹰碳纤维股份有限公 司(以下简称"公司")的委托,根据《中华人民共和国公司法》(以下简称"《公 司法》")《上市公司股东会规则》(以下简称"《股东会规则》")等现行有效 的法律、行政法规、部门规章、规范性文件(以下简称"法律法规")以及《中复 神鹰碳纤维股份有限公司章程》(以下简称"《公司章程》")的有关规定,指派 本所律师对公司 2025 年第二次临时股东大会(以下简称"本次股东大会")进行 见证,并 ...

Investment Rating - The report maintains a "Buy" rating for the company [5] Core Views - The company achieved significant improvement in profitability in Q2 2025, marking its first profit in a year, with a revenue of 5.2 billion yuan, a year-on-year increase of 83% [2][3] - The carbon fiber market prices have stabilized at the bottom, contributing to the company's cost reduction efforts and improved profitability [2] - The company has seen a substantial increase in sales volume, particularly in the wind power sector, which grew over 200% year-on-year [3] Summary by Sections Financial Performance - In H1 2025, the company reported revenues of 9.2 billion yuan, a 26% increase year-on-year, while net profit was 0.12 billion yuan, down 52% year-on-year [1] - In Q2 2025, the company achieved a gross margin of 24.5%, up 4.2 percentage points year-on-year, and 21.1 percentage points quarter-on-quarter, reaching a new high since Q2 2024 [2] Cost Management - The company successfully reduced production costs by 4.55% year-on-year and management expenses by 44.93% in H1 2025 through various cost-saving initiatives [2] Sales Growth - The sales volume of 3K silk and other small filament products increased by 77% year-on-year, while high-strength and high-modulus series products saw a 53% increase [3] - The company has made significant breakthroughs in aerospace and other sectors, with core products like T800 grade carbon fiber showing steady growth [3] Investment Forecast - The profit forecast for the company has been adjusted upwards for 2025 and 2026, with expected net profits of 1.25 billion yuan and 1.57 billion yuan respectively, and a new forecast for 2027 at 2.15 billion yuan [3]

证券代码：688295 证券简称：中复神鹰 公告编号：2025-037 中复神鹰碳纤维股份有限公司 首次公开发行部分限售股上市流通公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 本次股票上市类型为首发限售股份；股票认购方式为网下，上市股数为 298,399,282股。 本次股票上市流通总数为298,399,282股。限售期为自公司股票上市之日起 42 个月。 本次股票上市流通日期为2025 年 10 月 9 日。（因 2025 年 10 月 6 日为非 交易日，故顺延至下一交易日） 一、本次上市流通的限售股类型 根据中国证券监督管理委员会于 2022 年 2 月 22 日出具的《关于同意中复神 鹰碳纤维股份有限公司首次公开发行股票注册的批复》（证监许可[2022]337 号）， 中复神鹰碳纤维股份有限公司（以下简称"公司"或"中复神鹰"）获准向社会 公众公开发行人民币普通股（A 股）100,000,000 股，并于 2022 年 4 月 6 日在上 海证券交易所科创板上市。公司首次公开发行股票完成后， ...

国泰海通证券股份有限公司 关于中复神鹰碳纤维股份有限公司 首次公开发行部分限售股上市流通的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐机构"）作为 中复神鹰碳纤维股份有限公司（以下简称"中复神鹰"或"公司"）首次公开发 行股票并在科创板上市及持续督导的保荐机构，根据《证券发行上市保荐业务管 理办法》《上海证券交易所科创板股票上市规则》《上海证券交易所科创板上市公 司自律监管指引第 1 号——规范运作》等法律法规的相关规定，对中复神鹰首次 公开发行部分限售股上市流通事项进行了核查，核查情况及核查意见如下: 一、本次上市流通的限售股类型 根据中国证券监督管理委员会于 2022 年 2 月 22 日出具的《关于同意中复 神鹰碳纤维股份有限公司首次公开发行股票注册的批复》（证监许可[2022]337 号），中复神鹰获准向社会公众公开发行人民币普通股（A 股）100,000,000 股， 并于 2022 年 4 月 6 日在上海证券交易所科创板上市。公司首次公开发行股票完 成后，总股本为 900,000,000 股，其中有限售条件流通股 831,155,943 股，无限 售条件流通股 68,844, ...

Core Viewpoint - The company is actively progressing its production capacity expansion and optimizing its financial structure while enhancing its market competitiveness through strategic pricing and product development in the carbon fiber industry [1][2][3][5][10]. Group 1: Production Capacity and Financial Management - The company is advancing its 30,000-ton production capacity project in Lianyungang, with some production lines expected to be operational by the end of the year [2]. - The current asset-liability ratio is around 50%, with interest-bearing debt exceeding 2.2 billion. The company has been optimizing its debt structure and reducing short-term debt through improved operational cash flow [3]. - The company aims to maintain cost advantages by focusing on production efficiency and cost control, achieving a 5% year-on-year reduction in unit production costs [4]. Group 2: Market Position and Product Strategy - The carbon fiber market is currently experiencing a price recovery, driven by supply-demand dynamics and enhanced product performance recognition [5]. - The company has implemented price adjustments for high-end carbon fiber products, resulting in a 77% year-on-year increase in sales volume for its 3K small tow products and a 53% increase for its high-strength and high-modulus series [5]. - The company is committed to a "12345" strategic framework aimed at becoming a world-class enterprise, balancing domestic and international markets while focusing on green, high-end, and large-scale development [7]. Group 3: International Expansion - The company is actively developing overseas markets, leveraging local warehousing and service capabilities, and collaborating with global industry leaders to expand its footprint in aerospace, new energy, and automotive sectors [9]. - The company is focusing on emerging markets in South Korea and Southeast Asia to build a resilient global business network [9]. Group 4: Financial Performance - For the first half of 2025, the company reported a main revenue of 922 million, a year-on-year increase of 25.86%, while net profit attributable to shareholders decreased by 52.23% to approximately 11.93 million [10]. - The second quarter of 2025 saw a significant revenue increase of 83.15% year-on-year, with net profit rising by 439.98% to approximately 57.16 million [10].

Core Viewpoint - The article highlights the rapid development of the high-performance carbon fiber industry in China, emphasizing the establishment of large-scale production projects and the increasing capacity of various companies in this sector [4][5][6]. Group 1: Industry Developments - The Shenshan Special Cooperation Zone has approved a high-performance carbon fiber project with a planned annual production capacity of 10,000 tons, divided into two phases, with construction expected to start in October 2025 and full production by December 2029 [4]. - The carbon fiber industry in China is experiencing accelerated industrialization, with multiple projects being established, leading to a cluster development model centered around leading enterprises [4]. - Zhongfu Shenying has built a production base with an annual capacity exceeding 20,000 tons, including various grades of carbon fiber, some of which have entered the aerospace sector [4]. Group 2: Company Highlights - Zhongjian Technology has established a production capacity of several thousand tons of T700-grade carbon fiber, with applications in aerospace and sports leisure [5]. - Sinopec Shanghai Petrochemical has built the first domestic 1,000-ton T800 carbon fiber production line, with a current capacity of 24,000 tons/year for precursor fibers and 12,000 tons/year for carbon fibers [5]. - Guangwei Composites is one of the earliest companies to achieve carbon fiber localization, with a current production capacity at the level of 10,000 tons [6]. Group 3: Industry Challenges - The high-performance carbon fiber industry faces several bottlenecks, including technological barriers in precursor fiber preparation, which is a long-standing shortcoming in China [7]. - The equipment level for production processes such as spinning and carbonization needs improvement, as the stability and consistency of domestic equipment are still lacking [7]. - The market structure for high-performance carbon fiber is concentrated in wind power and sports leisure, with limited demand from aerospace and high-end equipment sectors, hindering the development of high-end products [7].

国泰海通证券股份有限公司 关于中复神鹰碳纤维股份有限公司 2025 年度持续督导半年度跟踪报告 | 保荐机构名称：国泰海通证券股份有限公司 | 被保荐公司简称：中复神鹰 | | --- | --- | | 保荐代表人姓名：冉洲舟、刘怡平 | 被保荐公司代码：688295.SH | 重大事项提示 2025 年 1-6 月，公司实现营业收入 92,161.79 万元，同比增长 25.86%； 归 属于上市公司股东的净利润 1,192.98 万元，同比下降 52.23%；归属于上市公司 股东的扣除非经常性损益的净利润 182.34 万元，同比扭亏为盈。主要系本期公 司销量增长带来的收入增加，未能抵消销售结构变化等原因带来的价格下浮影响 所致。 当前碳纤维行业已处周期底部，根据百川盈孚数据，2025 年 7 月国内碳纤 维均价为 83.75 元/kg，较 2025 年 1 月份下降幅度约为 0.3%，反映出当前国内碳 纤维价格下跌已逐步筑底企稳，进一步下探空间有限，上市公司不存在重大风险。 经中国证券监督管理委员会《关于同意中复神鹰碳纤维股份有限公司首次公 开发行股票注册的批复》（证监许可[2022]337 号），中 ...