| 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].

证券代码：000401 证券简称：金隅冀东 金隅冀东水泥集团股份有限公司投资者关系活动记录表 编号：2025-005 | | □特定对象调研 □ 分析师会议 | | --- | --- | | | 媒体采访 业绩说明会 □ √ | | 投资者关系活动 | 新闻发布会 路演活动 □ □ | | 类别 | | | | 现场参观 □ | | | □ 其他 （请文字说明其他活动内容） | | 参与单位名称及 | 投资者网上提问 | | 人员姓名 | | | 时间 | 2025 年 9 月 15 日 (星期一) 下午 15:00-17:00 | | 地点 | 公司通过全景网"投资者关系互动平台"（https://ir.p5w.net） | | | 采用网络远程的方式召开业绩说明会 | | 上市公司接待人 | 1.董事、总经理 魏卫东 | | 员姓名 | 2.董事、副总经理、董事会秘书 任前进 | | | 3.财务总监 杨北方 公司就投资者在本次说明会中提出的问题进行了回复： | | | 1.为啥冀东半年报的员工支出比华新水泥还高？营收没华 | | | 新多，交的税没华新多，难道北方的企业员工薪酬还高于南方？ | | | ...

Core Viewpoint - The article highlights the advancements and achievements of Jinyu Jidong Cement in the context of green development, innovation, and digital transformation within the cement industry, showcasing its commitment to low-carbon and sustainable practices. Group 1: Product Innovation and Applications - Jinyu Jidong Cement has developed specialized oil well cement that can withstand high temperatures and salinity at depths of 2000 meters, addressing strength challenges in extreme environments [5] - The company has created mining cement with unique properties that prevent subsidence during coal mine backfilling, ensuring safety [5] - A composite admixture for concrete has been developed to enhance workability, increase strength, and reduce carbon emissions, widely applied in flood control and river management projects [5] Group 2: Green and Low-Carbon Development - The company has focused on green, circular, and low-carbon development, achieving a reduction of 30,000 tons of standard coal annually through the use of alternative raw materials and biomass fuels [2] - The integration of photovoltaic systems with production processes has significantly decreased reliance on purchased electricity, generating 17,900 million kWh from waste heat and 10 million kWh from solar power [2] - Jinyu Jidong Cement has received numerous accolades for its green initiatives, including national-level honors for being a "Green Factory" and "High-tech Enterprise" [2] Group 3: Technological Innovation - The region's technological innovation has become a core driver for high-quality development, with over 2,400 intellectual property rights and participation in the formulation of national and industry standards [4] - The establishment of innovation centers and laboratories has led to the development of various low-carbon and high-performance cement products for diverse applications [4] Group 4: Digital Transformation - The company has invested significantly in digital transformation, including a 60 million yuan project for an unmanned mining vehicle system, marking a first in the cement industry [7] - Smart production scheduling systems optimize energy consumption and reduce production fluctuations, while order response platforms enhance customer service efficiency [7] - Overall operational efficiency has improved by 40%, and energy efficiency has been optimized by 15%, with several energy consumption metrics reaching international standards [7] Group 5: Future Outlook - Jinyu Jidong Cement aims to continue its commitment to sustainable practices, innovation, and digitalization, aligning with the broader industry trend towards high-quality development and contributing to carbon neutrality goals [9]

Core Points - The company, Jinyu Jidong Cement Group Co., Ltd., will participate in the 2025 Hebei Listed Companies Investor Online Collective Reception Day and the 2025 Half-Year Report Collective Performance Briefing [1][2] - The event aims to enhance interaction with investors and will be held online on September 15, 2025, from 15:00 to 17:00 [1][2] - Key executives, including the General Manager and the Financial Director, will engage with investors on topics such as corporate governance, development strategy, operational status, and sustainable development [2] Event Details - The event will be conducted via remote online access, allowing investors to participate through the "Panjing Roadshow" website or its associated platforms [1] - The company encourages active participation from investors during the event [2]

证券代码：000401 证券简称：金隅冀东 公告编号：2025-073 金隅冀东水泥集团股份有限公司 特此公告！ 金隅冀东水泥集团股份有限公司董事会 2025 年 9 月 10 日 关于参加 2025 年河北辖区上市公司投资者网上集体接待日 暨 2025 年半年报集体业绩说明会的公告 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。 为进一步加强与投资者的互动交流，金隅冀东水泥集团股份有限公司 （以下简称公司）将参加由河北省上市公司协会、河北资本市场之家与深 圳市全景网络有限公司联合举办的"2025 年河北辖区上市公司投资者网上 集体接待日暨 2025 年半年报集体业绩说明会"，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网 站 (http://rs.p5w.net)，或关注微信公众号:全景财经，或下载全景路 演 APP ， 参 与 本 次 互 动 交 流 ， 活 动 时 间 为 2025 年 9 月 15 日 ( 周 一)15:00-17:00。 届时公司董事、总经理魏卫东，董事、副总经理、董事会秘书任前进 及财务总监杨北 ...

联合〔2025〕9234 号 联合资信评估股份有限公司关于唐山冀东水泥股份有限公司 资料来源：公开资料，联合资信整理 公司于 2025 年 9 月 4 日发布了《唐山冀东水泥股份有限公司关于变更公司名称、证券简称暨 完成工商变更登记的公告》，公司中文名称由"唐山冀东水泥股份有限公司"变更为"金隅冀东水 泥集团股份有限公司"，英文名称由"TANGSHAN JIDONG CEMENT CO.,LTD"变更为"BBMG JIDONG CEMENT GROUP CO.,LTD"；同时，公司中文证券简称由"冀东水泥"变更为"金隅冀东"， 英文证券简称由"JIDONG CEMENT"变更为"BBMG JIDONG"，启用时间为 2025 年 9 月 4 日； 公司已完成公司名称变更登记手续和《公司章程》的备案，并取得换发的《营业执照》，变更公司 名称、证券简称的申请已经深圳证券交易所审核无异议。 针对上述事项，联合资信已与公司取得联系并了解相关情况，联合资信认为上述事项对公司信 用水平暂未造成重大不利影响。综合评估，联合资信决定维持上次评级结果不变，公司个体信用等 级为 aa +，外部支持提升 1 个子级，主体长期信用等 ...