Summary of Key Points Core Viewpoint - The company, Nanbo A (000012.SZ), has announced a share repurchase plan, indicating a commitment to returning value to shareholders through the buyback of both A-shares and B-shares, totaling 2.1307% of the company's total equity [1]. Group 1: A-Shares Repurchase - The company has repurchased a total of 38.191671 million A-shares [1]. - The highest transaction price for A-shares was 5.04 CNY per share, while the lowest was 4.54 CNY per share [1]. - The total amount spent on repurchasing A-shares was 181 million CNY, excluding transaction fees [1]. Group 2: B-Shares Repurchase - The company has repurchased a total of 27.234696 million B-shares [1]. - The highest transaction price for B-shares was 1.94 HKD per share, and the lowest was 1.65 HKD per share [1]. - The total amount spent on repurchasing B-shares was 49.1815 million HKD [1].

证券代码：000012；200012 证券简称：南玻 A；南玻 B 公告编号：2025-047 中国南玻集团股份有限公司 关于回购股份进展公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 （2）中国证监会和深圳证券交易所规定的其他情形。 一、回购股份事项概述 中国南玻集团股份有限公司（以下简称"公司"）分别于 2025 年 2 月 13 日、 2025 年 3 月 4 日召开了第九届董事会临时会议及 2025 年第一次临时股东大会， 会议审议通过了《关于回购公司部分人民币普通股（A 股）、境内上市外资股（B 股）股份方案的议案》。公司根据相关规定编制并披露了回购报告书，具体内容 详见 2025 年 3 月 25 日刊登于《中国证券报》《证券时报》《上海证券报》《证 券日报》和巨潮资讯网（www.cninfo.com.cn）的《关于回购公司部分人民币普通 股（A 股）、境内上市外资股（B 股）股份的报告书》。 鉴于公司已经实施了 2024 年度权益分派，本次以集中竞价交易方式回购 A 股股份价格上限由不超过 7.6 元/股调整为不超过 7.53 元/股，预计调 ...

Summary of Key Points Core Viewpoint - The company, Nanbo A (000012.SZ), has announced a share buyback program, indicating a commitment to returning value to shareholders and confidence in its financial position [1] Group 1: Buyback Details - As of October 31, 2025, the company has repurchased a total of 38,191,671 A-shares and 27,234,696 B-shares, representing 2.1307% of the total share capital [1] - The maximum transaction price for A-shares was 5.04 CNY per share, while the minimum was 4.54 CNY per share, with a total expenditure of 181,479,403.23 CNY (excluding transaction fees) [1] - For B-shares, the maximum transaction price was 1.94 HKD per share, and the minimum was 1.65 HKD per share, with a total expenditure of 49,181,454.13 HKD, equivalent to 44,866,765.16 CNY (excluding transaction fees) [1] Group 2: Compliance and Strategy - The buyback is in compliance with relevant laws and regulations and aligns with the company's established buyback plan [1]

Market Overview - The glass fiber sector experienced a decline of 0.96% on October 31, with Honghe Technology leading the drop [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Stock Performance - Notable gainers in the glass fiber sector included: - Shandong Glass Fiber (605006) with a closing price of 7.88, up 2.60% on a trading volume of 191,300 shares [1] - Jinjing Technology (600586) closed at 5.25, up 2.14% with a trading volume of 616,200 shares [1] - Yao Pi Glass (618009) closed at 8.46, up 2.05% with a trading volume of 277,100 shares [1] - Honghe Technology (603256) was the biggest loser, closing at 35.40, down 8.05% with a trading volume of 354,800 shares [2] Capital Flow - The glass fiber sector saw a net outflow of 20.64 million yuan from institutional investors and 41.69 million yuan from speculative funds, while retail investors had a net inflow of 62.34 million yuan [2] - Key capital flows for specific stocks included: - China Jushi (600176) had a net inflow of 71.31 million yuan from institutional investors [3] - International Composites (301526) saw a net inflow of 49.48 million yuan from institutional investors [3] - Jinjing Technology (002080) had a net inflow of 23.81 million yuan from institutional investors [3]

Group 1 - The company, Nanbo A, reported a total of 126,990 shareholders as of October 20, 2025, with 94,118 A-share shareholders and 32,872 B-share shareholders [2]

Core Viewpoint - The company Nanfang A announced that its high-purity silicon project in Qinghai is currently in the trial production phase [2] Company Summary - Nanfang A is actively engaging with investors through an interactive platform, providing updates on its project status [2]

Market Performance - The glass and fiberglass sector increased by 4.08% compared to the previous trading day, with Honghe Technology leading the gains [1] - The Shanghai Composite Index closed at 4016.33, up 0.7%, while the Shenzhen Component Index closed at 13691.38, up 1.95% [1] Stock Performance - Honghe Technology (603256) closed at 42.33, with a rise of 10.01% and a trading volume of 212,200 shares, amounting to 893 million yuan [1] - Yaopi Glass (618009) saw a 6.21% increase, closing at 8.21 with a trading volume of 489,500 shares, totaling 402 million yuan [1] - Other notable stocks include: - Financial Technology (600586) up 4.89% to 5.15, with a trading volume of 591,900 shares, totaling 300 million yuan [1] - China Jushi (600176) up 2.99% to 16.56, with a trading volume of 571,600 shares, totaling 941 million yuan [1] Capital Flow - The glass and fiberglass sector experienced a net inflow of 187 million yuan from institutional investors, while retail investors saw a net outflow of 35.96 million yuan [1] - Detailed capital flow for key stocks includes: - Honghe Technology had a net inflow of 107 million yuan from institutional investors, but a net outflow of 74.13 million yuan from retail investors [2] - Yaopi Glass had a net inflow of 70.62 million yuan from institutional investors, with a net outflow of 32.97 million yuan from retail investors [2] - China Jushi recorded a net inflow of 43.82 million yuan from institutional investors, with a net outflow of 4.10 million yuan from retail investors [2]

Core Viewpoint - The stock of China Southern Glass Holdings Co., Ltd. (南玻A) has experienced fluctuations, with a year-to-date decline of 7.89% but a recent uptick in the last five trading days, indicating potential recovery signals in the market [2]. Company Overview - China Southern Glass Holdings Co., Ltd. is based in Shenzhen, Guangdong, and was established on September 10, 1984, with its shares listed on February 28, 1992. The company specializes in the research, production, and sale of high-quality float glass, engineering glass, solar glass, silicon materials, photovoltaic cells, and components, among other renewable energy products [2]. - The main revenue composition includes glass products (90.48%), electronic glass and display devices (8.71%), solar and other products (2.61%), and undistributed income (2.42%) [2]. Financial Performance - For the period from January to September 2025, the company reported a revenue of 10.424 billion yuan, reflecting a year-on-year decrease of 11.94%. The net profit attributable to the parent company was 150 million yuan, down 80.88% year-on-year [2]. - The company has distributed a total of 8.767 billion yuan in dividends since its listing, with 1.44 billion yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders for 南玻A was 127,300, a decrease of 0.32% from the previous period. The average circulating shares per person remained at zero [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 21.7868 million shares, an increase of 3.8624 million shares from the previous period, while China Merchants Securities (Hong Kong) Co., Ltd. holds 16.9104 million shares, a decrease of 2.0888 million shares [3].

Group 1 - The core viewpoint of the article is that the Qinghai high-purity silicon project has commenced trial production and possesses significant technical advantages [2][3] - The company, Nanfang Glass (南玻Ａ), stated that the project utilizes an improved Siemens process, which is at an advanced level within the industry [2]

Core Insights - China is the largest producer and consumer of specialty glass globally, undergoing significant structural changes driven by the implementation of the "dual carbon" strategy and the upgrading of green building standards [1][9] - The market for specialty glass in China is projected to grow from CNY 59.9 billion in 2020 to CNY 102.6 billion in 2024, with a compound annual growth rate (CAGR) of 11.36% [1][10] - The demand for specialty glass is expected to remain strong, with projections indicating a market size of CNY 110.8 billion by 2025, fueled by rapid developments in downstream industries such as photovoltaic new energy and energy-efficient buildings [1][9] Industry Overview - Specialty glass is defined as glass that exhibits unique functions through various physical and chemical processes, serving as a critical material in sectors such as construction, transportation, energy, and aerospace [3][4] - The industry has evolved through three stages: initial exploration (1950s-1970s), rapid development (1980s-1990s), and current focus on industrial upgrading and brand building [4][5] Market Dynamics - The specialty glass market is transitioning from traditional ordinary glass to high-performance energy-saving products like Low-E glass and hollow glass, which are now mainstream [1][9] - The global specialty glass market was valued at USD 21.436 billion in 2023 and is expected to reach USD 27.534 billion by 2029, with a CAGR of 4.26% [8] Policy Environment - Recent government policies aim to enhance the development of the specialty glass industry, including initiatives to establish production bases for high-end glass products in strategic sectors [6] Industry Chain - The upstream of the specialty glass industry includes raw materials like quartz sand, soda ash, and limestone, while the downstream encompasses applications in various sectors [6][7] Competitive Landscape - The specialty glass market features a tiered competitive structure, with international leaders like Corning and AGC in the top tier, while domestic companies such as Fuyao Glass and Xinyi Glass form the second tier [10][11] Challenges - The industry faces challenges such as insufficient innovation capabilities, weak foundational research, and a lack of comprehensive standards and testing systems [13][14][15] Future Trends - Key trends in the specialty glass industry include high performance, large size, functional integration, and product series diversification to meet the evolving demands of various applications [16][17][18][20]