江苏富淼科技股份有限公司 简式权益变动报告书 上市公司名称：江苏富淼科技股份有限公司 信息披露义务人：江苏飞翔化工股份有限公司 住所/通讯地址：江苏省张家港市凤凰镇飞翔化工集中区 权益变动性质：股份减少（协议转让） 签署日期： 2025 年 7 月 1 上市地点：上海证券交易所 股票简称：富淼科技 股票代码：688350 信息披露义务人声明 一、本报告书系依据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公司收购管理 办法》（以下简称"《收购管理办法》"）、《公开发行证券的公司信息披露内 容与格式准则第 15 号—权益变动报告书》（以下简称"《准则 15 号》"）等相 关法律、法规和规范性文件编制。 二、信息披露义务人签署本报告书已获得必要的授权和批准，其履行亦不违 反信息披露义务人章程或内部规则中的任何条款，或与之冲突。 三、依据《证券法》《收购管理办法》《准则 15 号》的规定，本报告书已 全面披露了信息披露义务人在江苏富淼科技股份有限公司（以下简称"富淼科技"、 "上市公司"、"公司"）中拥有权益的股份变动情况。 四、截至本报告书出具日， ...

证券代码：688350 证券简称：富淼科技 公告编号：2025-047 转债代码：118029 转债简称：富淼转债 江苏富淼科技股份有限公司 关于持股5%以上股东协议转让股份暨权益变动、自 愿披露签订战略合作协议的公告 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、准确性和完整性承担法律责 任。 重要内容提示： 1 江苏富淼科技股份有限公司（以下简称"公司"或"富淼科技"）持股5% 以上股东江苏飞翔化工股份有限公司（以下简称"飞翔股份"或"转让 方"）于2025年7月17日与上海耕瑞资产管理有限公司（代表"耕瑞泓晟1 号私募证券基金"（具体名称以实际备案信息为准），以下简称"泓晟1号 基金"）（以下简称"上海耕瑞"或"受让方"）签署了《关于江苏富淼 科技股份有限公司之股份转让协议》。飞翔股份拟通过协议转让方式将其 持有的6,107,600股无限售流通股份，以16.38元/股（参考转让协议签署日 前一交易日收盘价确定，不低于前一交易日收盘价的80%）的价格转让给上 海耕瑞，转让股份占公司总股本的5.00%。 本次权益变动前，飞翔股份持有公司股份2 ...

Group 1 - The core point of the article is that Fumiao Technology has signed a strategic cooperation agreement with Xinhuhong Woolen Textile, aiming to enhance collaboration in the textile dyeing industry chain [1] - Jiangsu Feixiang Chemical Co., Ltd. plans to transfer 6.1076 million unrestricted circulating shares of Fumiao Technology at a price of 16.38 yuan per share, representing 5% of the company's total share capital [1] - The sole investor of the fund involved in the share transfer, Hongrui Hongsheng No. 1 Private Securities Fund, is controlled by Pang Chao, who is also the actual controller of Xinhuhong Woolen Textile [1] Group 2 - The strategic cooperation will focus on advancing technology research and development and collaborative market expansion in the full water treatment segment of the textile dyeing industry [1]

Core Viewpoint - The article discusses the recent updates in credit ratings for convertible bonds, highlighting that while most ratings remain unchanged, some have been downgraded due to deteriorating company fundamentals, including losses, increased debt pressure, and worsening credit conditions [1][2]. Summary by Sections Credit Rating Updates - A total of 72 convertible bonds have updated their ratings this year, with 65 bonds maintaining their previous ratings, accounting for 90.28% [1]. - Seven convertible bonds have experienced downgrades, including Dongshi Convertible Bond, Fumiao Convertible Bond, and others, primarily due to continuous losses and increased debt pressure [2]. Specific Cases of Downgrades - Fumiao Convertible Bond's credit rating was adjusted from A+ to A due to the company's declining profitability and rising debt levels, with a significant increase in total liabilities expected by the end of 2024 [2]. - Dongshi Convertible Bond's rating was downgraded from B to CCC, indicating a rise in credit risk for the issuing company [3]. - Puli Pharmaceutical's credit rating was downgraded from BB to B+ following the termination of its stock and convertible bond listings due to significant financial discrepancies [3][4]. Market Impact and Risk Assessment - The overall credit risk exposure in the convertible bond market has influenced investors' risk assessments, although recent market recovery has alleviated some concerns [5]. - Historical data indicates that abnormal exits of convertible bonds are often linked to the issuing company's circumstances, with risks associated with both stock delisting and repayment pressures [5][6].

| 证券代码：688350 | 证券简称：富淼科技 | 公告编号：2025-046 | | --- | --- | --- | | 转债代码：118029 | 转债简称：富淼转债 | | 江苏富淼科技股份有限公司 可转债转股结果暨股份变动公告 累计转股情况：江苏富淼科技股份有限公司（以下简称"公司"）向不特定 对象发行可转换公司债券"富淼转债"自 2023 年 6 月 21 日起可转换为公司 股份。截至 2025 年 6 月 30 日，"富淼转债"累计有人民币 4,000 元已转换 为公司股票，转股数量为 207 股，占"富淼转债"转股前公司已发行股份总 额的 0.0002%。 未转股可转债情况：截至 2025 年 6 月 30 日，"富淼转债"尚未转股的可转 债余额为人民币 449,996,000 元，占"富淼转债"发行总量的 99.9991%。 本季度转股情况：2025 年 4 月 1 日至 2025 年 6 月 30 日期间，"富淼转债" 共有人民币 2,000 元已转换为公司股票，转股数量为 108 股，占"富淼转债" 转股前公司已发行股份总额的 0.0001%。 公司向不特定对象发行可转债注册的批复 ...

| 证券代码：688350 | 证券简称：富淼科技 | | --- | --- | | 债券代码：118029 | 债券简称：富淼转债 | 江苏富淼科技股份有限公司 向不特定对象发行可转换公司债券 受托管理事务报告 （2024 年度） 债券受托管理人 （深圳市前海深港合作区南山街道桂湾五路 128 号前海深港基金小镇 B7 栋 401） 二〇二五年六月 1 重要声明 本报告依据《可转换公司债券管理办法》（以下简称"《管理办法》"）、《江苏 富淼科技股份有限公司（作为发行人）与华泰联合证券有限责任公司（作为受托 管理人）关于江苏富淼科技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》"）、《江苏富淼科技股份有限公司 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》"）、 《江苏富淼科技股份有限公司 2024 年年度报告》等相关公开信息披露文件、第 三方中介机构出具的专业意见等，由本次债券受托管理人华泰联合证券有限责任 公司（以下简称"华泰联合证券"）编制。华泰联合证券对本报告中所包含的从 上述文件中引述内容和信息未进行独立验证，也不就该等引述内容和 ...

Group 1: 富淼科技 - 富淼科技 is in the preliminary discussion stage of a three to five-year collaborative development plan, with no final plan formed yet [1] - The energy supply business is short-term affected by coal price fluctuations, but long-term impact is limited [1] - The company is cautiously deciding whether to lower the convertible bond conversion price, and the US tariff policy has little direct impact on the company [1] - A decline in revenue and gross margin in 2024 is mainly due to price transmission effects and intensified market competition, although operational conditions improved in the second quarter [1] - The construction of the Anqing Phase II and III projects will be delayed, focusing on ensuring the completion of Phase I [1] - The repayment cycle of loans related to the Anqing project matches the project's operation, posing no substantial pressure on daily operational cash flow [1] Group 2: 国投资本 - 国投资本 aims to enhance strategy trading capabilities and refined management in its fixed income investment, reducing liability costs and strengthening multi-asset and multi-strategy investments [2] - In equity investment, the company adheres to absolute return goals, focusing on medium to long-term stable investment strategies [2] - 国投证券 has completed a total of 15 companies' sponsorships for listing on the Beijing Stock Exchange, ranking fourth in the industry, with 8 companies under review, ranking second [2] - Future key business areas for 国投证券 include transformation in industrial investment banking, comprehensive services for entrepreneurs, "research-investment-advisory" wealth management transformation, and the establishment of the 国投产业研究院 [2] - 国投泰康信托 will enhance wealth management capabilities, improve asset allocation and standard product investment capabilities, and strengthen collaboration with 国投集团 [2] - The impact of fee reductions in the financial industry on 国投证券's income is limited, and the company is responding to shocks through diversified business layout and transformation upgrades [2]

Core Insights - The company has completed the first phase of the Anqing project, which has an annual production capacity of 70,000 tons of polymer chemicals, including 50,000 tons of polypropylene and 20,000 tons of CPA [1] - The project is expected to start trial production in the second quarter of 2025, with construction progress reaching approximately 90% for key installations [1][2] - The project aims to achieve full production capacity within five years, with projected revenues of 798.67 million yuan at full capacity [2] Project Development - The Anqing project has received significant funding, including 11.56 million yuan in government special funds and 225.39 million yuan in bank loans [1] - The project has successfully completed essential environmental and safety assessments, and the main structure has been capped [1] - The production preparation, personnel training, and trial production plans are being actively advanced to ensure a smooth transition to operational status [1] Market Potential - The company’s products, including APAM and CPAM, are expected to meet growing market demands in various sectors such as water treatment and oil extraction [2] - The market for water treatment chemicals is expanding due to increased environmental regulations and investments from downstream enterprises [2] - The company holds a significant market share in the high-end polymer sector, with a strong focus on R&D and product quality [3][5] R&D and Competitive Advantage - The company is a leader in the bio-method production of acrylic acid, achieving high conversion rates and product purity [3] - Continuous collaboration with universities and research institutions enhances the company’s production processes and technological standards [3] - The company’s high-end acrylic products have competitive pricing and performance compared to international counterparts, with purity levels reaching 98.9% [3]

| 证券代码：688350 | 证券简称：富淼科技 | 公告编号：2025-045 | | --- | --- | --- | | 转债代码：118029 | 转债简称：富淼转债 | | 江苏富淼科技股份有限公司 关于 2024 年年度报告的信息披露监管问询函的 回复公告 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。 江苏富淼科技股份有限公司（以下简称"公司"或"富淼科技"）于近日收 到上海证券交易所下发的《关于江苏富淼科技股份有限公司 2024 年年度报告的 信息披露监管问询函》(上证科创公函【2025】0071 号，以下简称"年报问询函"）。 根据年报问询函的要求，公司会同中汇会计师事务所(特殊普通合伙)（以下简称 "年审会计师"），对年报问询函所提及的事项进行了逐项落实，现将问询函所涉 及问题回复如下： 在本问询函相关问题的回复中，若合计数与各分项数值相加之和在尾数上存 在差异，均为四舍五入所致。如无特别说明，本回复中使用的简称或名词释义与 《江苏富淼科技股份有限公司 2024 年年度报告》一致。 鉴于公司回复内容 ...

关于 江苏富淼科技股份有限公司 2024 年年度报告的信息披露监管问询函 有关问题回复的专项说明 年报显示:(1) 2024年公司实现营业收入 15.66亿元,同比下滑 4.54%,实 现归母净利润-0.05亿元,由盈转亏,上年同期为 0.27亿元,主要是受下游竞争 加剧与主要原料降价的影响导致化学品售价与收入的下降,以及因园区企业开工 不足,能源外供中的蒸汽销量下降。(2)分产品看,2024年能源外供业务收入为 1.63 亿元,同比下降 3.49%,毛利率为 31.56%,同比增加 5.13%;水处理膜及膜 应用业务收入 0.43 亿元,毛利率为-0.01%。(3)分销售模式、区域看,经销模 式收入同比增加 10.57%,毛利率为 2.74%,低于直销模式 14. 95%的毛利率;外销 收入同比增加 7. 40%,毛利率为 16. 48%,高于内销收入 12. 51%的毛利率。(4) 2024 年,公司各季度净利润分别为 0.14亿元、0.12亿元、-0.02亿元及-0.28亿元。 中国杭州市钱江新城新业路 8 号 UDC 时代大厦 A 座 5-8 层、12 层、23 层 www.zhcpa.cn Floo ...