证券代码：000401 证券简称：金隅冀东 公告编号：2025-079 金隅冀东水泥集团股份有限公司 关于召开 2025 年第四次临时股东会的通知 公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 一、召开会议的基本情况 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间 为 2025 年 10 月 28 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券 交易所互联网投票系统投票的具体时间为 2025 年 10 月 28 日 9:15 至 15:00 的任意时间。 5.会议的召开方式：现场表决与网络投票相结合。 6.会议的股权登记日：2025 年 10 月 22 日 7.出席对象： （1）在股权登记日持有公司股份的股东或其代理人 1.股东会届次：2025 年第四次临时股东会 2.股东会的召集人：董事会 3.本次会议的召集、召开符合《中华人民共和国公司法》《深圳证券交易 所股票上市规则》《深圳证券交易所上市公司自律监管指引第 1 号——主板上 市公司规范运作》等法律、行政法规、部门规章、规范性文件及《公司章程》 的有关 ...

证券代码：000401 证券简称：金隅冀东 公告编号：2025-078 金隅冀东水泥集团股份有限公司 第十届董事会第二十次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 金隅冀东水泥集团股份有限公司（以下简称公司或本公司）第十届董 事会第二十次会议于 2025 年 10 月 11 日以通讯方式召开，会议应参加表 决董事 8 名，实际参加表决董事 8 名，高级管理人员列席会议。会议由董 事长刘宇先生召集并主持。会议的召集、召开符合《中华人民共和国公司 法》和《公司章程》的有关规定。会议对所列议案进行了审议，经表决形 成如下决议： 一、审议并通过《关于提名第十届董事会非独立董事的议案》 提名葛栋先生（简历详见附件）为公司第十届董事会非独立董事候选 人，任期与第十届董事会任期一致。 葛栋先生的任职资格已经公司董事会提名委员会审核通过。 表决结果：8 票同意 0 票反对 0 票弃权 该议案尚需提请公司股东会审议通过。 二、审议并通过《关于召开 2025 年第四次临时股东会的议案》 表决结果：8 票同意 0 票反对 0 票弃权 具体内容详见公司同日在《中国 ...

Group 1 - The core point of the article is the resignation of Ren Qianjin from his position as a director and member of the board nomination committee at Jinyu Jidong, while he will continue to serve as the deputy general manager and board secretary [1] Group 2 - The article highlights a significant trend in the AI industry, noting that major companies like Nvidia and OpenAI are making substantial investments, leading to concerns about a potential AI bubble that is reportedly four times larger than the 2008 global real estate bubble [1]

Core Viewpoint - The company announced the resignation of Ren Qianjin from his position as a director and member of the board nomination committee due to work adjustments, while he will continue to serve as the deputy general manager and board secretary [1] Summary by Sections - **Resignation Announcement** - Ren Qianjin submitted a written resignation report, which is effective from the date it was delivered to the company [1] - Following his resignation, he will retain his roles as deputy general manager and board secretary [1] - **Shareholding Status** - As of the date of the announcement, Ren Qianjin does not hold any shares in the company [1]

证券代码：000401 证券简称：金隅冀东 公告编号：2025-075 债券代码：149636 债券简称：21 冀东 02 本公司及全体董事、高级管理人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。 特别提示： 1 唐山冀东水泥股份有限公司 2021 年面向专业投资者公开发行公司债券(第二期)（债 券简称：21 冀东 02、债券代码：149636.SZ）本次付息的债权登记日为 2025 年 10 月 10 日，凡在 2025 年 10 月 10 日（含）前买入并持有本期债券的投资者享有本次派发的利 息；2025 年 10 月 10 日卖出本期债券的投资者不享有本次派发的利息。 唐山冀东水泥股份有限公司 2021 年面向专业投资者公开发行公司债券(第二期)将于 2025 年 10 月 13 日支付 2024 年 10 月 13 日至 2025 年 10 月 12 日期间的利息，为确保 付息工作的顺利进行，现将有关事宜公告如下： 一、本期债券基本情况 1、发行人：金隅冀东水泥集团股份有限公司 2、债券名称：唐山冀东水泥股份有限公司 2021 年面向专业投资者公开发行公司债 券(第二期) ...

| 证券代码：000401 | 证券简称：金隅冀东 | 公告编号：2025-076 | | --- | --- | --- | | 债券代码：127025 | 证券简称：冀东转债 | | 金隅冀东水泥集团股份有限公司 2025 年第三季度可转换公司债券转股情况公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 特别提示： | 证券代码：000401 | | | | 证券简称：金隅冀东 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 债券代码：127025 | | | | 证券简称：冀东转债 | | | | | | | 转股价格：13.01 | 元/股 | | | | | | | | | | 转股期限：2021 年 | 5 月 | 11 | 日至 | 2026 | 年 | 11 | 月 | 4 | 日 | 根据《深圳证券交易所股票上市规则》的有关规定，金隅冀东水泥集 团股份有限公司（以下简称公司）现将 2025 年第三季度可转换公司债券 转股及公司总股本变化 ...

Market Overview - The cement sector experienced a slight decline of 0.12% on September 26, with Sanhe Pile leading the drop [1] - The Shanghai Composite Index closed at 3828.11, down 0.65%, while the Shenzhen Component Index closed at 13209.0, down 1.76% [1] Individual Stock Performance - Sanhe Pile (003037) closed at 7.91, down 4.47% with a trading volume of 168,100 shares and a turnover of 134 million yuan [2] - Qingsong Jianhua (600425) closed at 4.25, down 2.52% with a trading volume of 393,800 shares [2] - Sichuan Jinding (600678) closed at 9.23, down 2.22% with a trading volume of 105,800 shares [2] - Guotong Co. (002205) closed at 13.63, down 1.87% with a trading volume of 94,800 shares [2] - Tianshan Co. (000877) closed at 5.97, down 1.16% with a trading volume of 388,500 shares [2] - Other notable declines include Jianfeng Group (600668) down 1.02% and Xizang Dalu (600326) down 0.81% [2] Capital Flow Analysis - The cement sector saw a net outflow of 98.89 million yuan from institutional investors and 47.41 million yuan from retail investors, while individual investors contributed a net inflow of 146 million yuan [4] - Hainan Ruize (002596) had a net inflow of 47.06 million yuan from institutional investors, while experiencing a net outflow of 10.28 million yuan from retail investors [4] - Fujian Cement (600802) reported a net inflow of 11.08 million yuan from institutional investors, with a slight net outflow from retail investors [4] - Guotong Co. (002205) had a net inflow of 5.80 million yuan from institutional investors, while retail investors showed a net outflow [4]

Investment Rating - The report suggests focusing on investment opportunities in the fiberglass and cement industries due to improving profitability, while selecting stocks with alpha characteristics in the consumer building materials and early-cycle sectors [2][5]. Core Insights - The building materials industry has seen a narrowing revenue decline and notable profit improvements, particularly in the cement and fiberglass sectors, with overall revenue for sample companies decreasing by 4.1% year-on-year to 277.57 billion yuan, while net profit increased by 38.9% to 14.82 billion yuan [11][12]. - The cement industry has shown significant recovery, with a revenue of 118.8 billion yuan, a decline of 7.5%, and a net profit of 5.4 billion yuan, reflecting a year-on-year increase of 1110.5% [24][29]. - The fiberglass sector reported a revenue of 31.1 billion yuan, up 20.9%, and a net profit of 3.29 billion yuan, up 127.0%, indicating a strong recovery driven by price improvements and growth in special fabric business [6][38]. Summary by Sections 1. Industry Revenue Decline Narrowing, Cement and Fiberglass Perform Well - Sample companies in the building materials sector achieved a total revenue of 277.57 billion yuan in the first half of 2025, with a year-on-year decline of 4.1%, a significant improvement compared to a 10.7 percentage point decline in 2024 [11][12]. - The overall net profit for the industry turned positive, reaching 14.82 billion yuan, compared to a 50.8% decline in 2024 [11][12]. 2. By Sector: Cement and Fiberglass Recovery, Consumer Building Materials Seek Alpha 2.1 Cement: Bottom Recovery Becoming Certain - The cement industry has shown a significant improvement, with a revenue of 118.8 billion yuan and a net profit of 5.4 billion yuan, reflecting a year-on-year increase of 1110.5% [24][29]. - The demand for cement remains in a declining trend, but the rate of decline has slowed [24]. 2.2 Fiberglass: Profitability Out of Undervaluation, Steady Recovery Expected - The fiberglass sector reported a revenue of 31.1 billion yuan, up 20.9%, and a net profit of 3.29 billion yuan, up 127.0%, with most companies in the sector achieving double-digit revenue growth [6][38]. 2.3 Consumer Building Materials: Revenue Decline Narrowing, Some Companies Show Strong Alpha - The consumer building materials sector saw a revenue of 68.76 billion yuan, down 2.7%, and a net profit of 4.35 billion yuan, down 13.2%, with some companies like Keda Manufacturing and Three Trees showing strong performance [6][12]. 2.4 Glass: Photovoltaic Glass Experiences Phase Recovery, Building Glass Still Under Pressure - The glass industry faced challenges, with a revenue of 24.6 billion yuan, down 17.0%, and a net profit of 1 billion yuan, down 60.3%, indicating ongoing pressure from weak real estate completions [6][12]. 2.5 Early Cycle: Overall Pressure, Leading Companies Recover First - The early-cycle sector remains under pressure, but leading companies like Subote have achieved revenue and profit growth, focusing on major projects in the western regions [7][12].

| | | 2024 2025 本公司及全体董事、高级管理人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。 特别提示： 唐山冀东水泥股份有限公司 2024 年面向专业投资者公 开发行公司债券（第二期）（债券简称：24 冀东 02，债券 代码：148918）本次付息的债权登记日为 2025 年 9 月 19 日， 凡在 2025 年 9 月 19 日（含）前买入并持有本期债券的投资 者享有本次派发的利息；2025 年 9 月 19 日卖出本期债券的 投资者不享有本次派发的利息。 唐山冀东水泥股份有限公司 2024 年面向专业投资者公 开发行公司债券（第二期）将于 2025 年 9 月 22 日支付自 2024 年 9 月 20 日至 2025 年 9 月 19 日期间的利息。为保证付息 工作的顺利进行，现将有关事项公告如下： 6．期限：5 年，附第 3 年末发行人调整票面利率选择权 及投资者回售选择权。 7．当前票面利率：2.15% 8．还本付息方式：采用单利按年计息，不计复利。每 年付息一次，最后一期利息随本金的兑付一起支付。 9．起息日：本期债券的起息日为 2024 年 9 月 ...

Core Viewpoint - The company held an earnings briefing on September 15, 2025, to address investor concerns regarding its financial performance and operational strategies [1][2]. Group 1: Financial Performance - The company reported employee compensation of approximately 1.6 billion yuan in the first half of the year, which is comparable to Huaxin Cement, despite investor concerns about higher employee spending relative to revenue and taxes [3]. - The company acknowledged the challenging industry conditions, with national cement production data indicating a decline in performance for the third quarter, which will be detailed in the upcoming quarterly report [3]. Group 2: Market Conditions and Strategies - The company is focused on enhancing its market value through measures such as lean operations, focusing on core business areas, optimizing dividend policies, and completing equity incentives [3]. - The company noted that the cement price has been affected by a decrease in new real estate projects, but prices have stabilized recently, with expectations for recovery in demand during the "Golden September and Silver October" period [3]. Group 3: Future Outlook and Development - The company has supplied over 20 million tons of cement for the Xiong'an New Area since its establishment in 2017, benefiting from high product prices in the Beijing-Tianjin-Hebei region [3]. - The company is enhancing its team capabilities through a collaborative mechanism involving academic institutions and internal training programs, aimed at strengthening talent development [3].