Market Overview - The cement sector increased by 0.31% on December 1, with Fujian Cement leading the gains [1] - The Shanghai Composite Index closed at 3914.01, up 0.65%, while the Shenzhen Component Index closed at 13146.72, up 1.25% [1] Individual Stock Performance - Fujian Cement (600802) closed at 7.92, up 5.74% with a trading volume of 1.0263 million shares and a transaction value of 823 million [1] - Other notable performers include: - Tapai Group (002233) at 9.05, up 5.60% [1] - Hongzhi Fertilizer (002596) at 6.69, up 5.52% [1] - Shangfeng Cement (000672) at 10.96, up 1.76% [1] - Conversely, some stocks experienced declines, such as: - Conch Cement (600585) at 22.75, down 0.44% [2] Capital Flow Analysis - The cement sector saw a net outflow of 229 million from institutional investors, while retail investors contributed a net inflow of 152 million [2] - Notable capital flows for specific stocks include: - Conch Cement had a net inflow of 1.18 billion from institutional investors [3] - Fujian Cement experienced a net inflow of 33.09 million from institutional investors [3] - Tapai Group had a net inflow of 32.74 million from institutional investors [3]

甘肃上峰水泥股份有限公司 董事、高级管理人员内部问责制度 第一章 总则 第一条 为完善甘肃上峰水泥股份有限公司（以下简称"公司"）法人治理 结构，健全内部约束与责任追究机制，促进董事、高级管理人员等关键人员勤勉 尽责，提升公司决策与经营管理水平，建设廉洁、务实、高效的管理团队。依据 《中华人民共和国公司法》《中华人民共和国证券法》《深圳证券交易所股票上市 规则》等法律法规及《公司章程》，制定本制度。 第二条 公司董事、高级管理人员及其相关人员须严格遵守国家法律法规、 证券监管规定及《公司章程》，持续完善内部控制体系，确保规范运作。 第三条 内部问责是指对董事、高级管理人员等关键人员在其职责范围内， 因故意或过失行为对公司造成不良影响或损失的责任追究制度。 第四条 问责对象为公司董事、高级管理人员及其他相关人员在其工作职责 范围内，因违反证券期货相关法律、法规或证券交易所自律规则，被证券监管部 门依法采取行政处罚、行政监管措施或者纪律处分等惩戒措施，给公司造成损失 或不良影响的，公司应按照本办法的规定对其进行责任追究。 第五条 内部问责遵循以下原则： 1、制度面前人人平等原则； 2、权责对等原则； 3、谁主管谁 ...

证券代码：000672 证券简称：上峰水泥 公告编号：2024-074 甘肃上峰水泥股份有限公司 关于续聘公司2025年度财务审计机构及内控审计机构的公告 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。 特别提示： 1、公司 2024 年度审计意见为标准的无保留意见； 2、本次聘任不涉及变更会计师事务所； 3、公司审计委员会、董事会对本次续聘会计师事务所事项不存在异议。 甘肃上峰水泥股份有限公司（以下简称"公司"）于 2025 年 11 月 28 日召开 第十一届董事会第八次会议审议通过了《关于续聘公司 2025 年度财务审计机构 及内控审计机构的议案》，同意聘请致同会计师事务所（特殊普通合伙）（以下简 称"致同会计师事务所"）为公司 2025 年度财务审计机构及内控审计机构，并提 交公司 2025 年第五次临时股东会审议，现将相关事项公告如下： 一、拟聘任会计师事务所事项的情况说明 致同会计师事务所是一家具有证券、期货相关业务资格的会计师事务所，具 有从事上市公司审计工作的丰富经验和职业素养，具备足够的独立性、专业胜任 能力、投资者保护能力。该所在为公司提供 ...

证券代码：000672 证券简称：上峰水泥 公告编号：2025-075 甘肃上峰水泥股份有限公司 关于召开 2025 年第五次临时股东会的通知 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。 一、召开会议的基本情况 1、股东会届次：2025 年第五次临时股东会 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》的有关规定。 于股权登记日 2025 年 12 月 11 日下午收市时在中国结算深圳分公司登记 在册的公司全体股东均有权出席股东会，并可以以书面形式委托代理人出席 会议和参加表决，该股东代理人不必是本公司股东。授权委托书式样见附件 二。 （2）公司董事、高级管理人员； （3）公司聘请的律师； （4）根据相关法规应当出席股东会的其他人员。 4、会议时间： （1）现场会议时间：2025 年 12 月 17 日 14:30。 （2）网络投票时间：通过深圳证券交易所系统进行网 ...

证券代码：000672 证券简称：上峰水泥 公告编号：2025-073 甘肃上峰水泥股份有限公司 第十一届董事会第八次会议决议公告 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。 甘肃上峰水泥股份有限公司（以下简称"公司"）第十一届董事会第八次会 议于 2025 年 11 月 28 日上午 10:00 时在公司会议室以通讯表决方式召开。本次 会议通知于 2025 年 11 月 24 日以邮件或书面传递等方式送达各位董事，会议应 出席董事 9 名，实际出席董事 9 名(其中独立董事 3 名)，会议由公司董事长俞锋 先生主持。本次会议的召集、召开和表决符合《公司法》及《公司章程》的有关 规定，合法有效。会议审议通过了如下议案： 一、审议通过《关于续聘公司 2025 年度财务审计机构及内控审计机构的议 案》； 表决结果：同意票 9 张，反对票 0 张，弃权票 0 张，表决通过。 三、审议通过《关于提请召开公司 2025 年第五次临时股东会的议案》。 公司董事会提议于 2025 年 12 月 17 日下午 14:30 时在浙江省杭州市西湖区 文二西路 738 号西溪乐 ...

Core Insights - Angrui Microelectronics has officially launched its IPO process on the Sci-Tech Innovation Board, with a stock code of "688790" and plans to issue 24.8829 million shares to raise 2.067 billion yuan for R&D projects related to 5G RF chips and IoT chips [4] Company Overview - Angrui Microelectronics, established in 2012, specializes in integrated circuit design in the RF and analog fields, focusing on RF front-end chips, RF SoC chips, and other analog chips [1] - The company is recognized as a national-level "little giant" enterprise, providing high-performance, reliable, low-power, and highly integrated core devices and system-level solutions for smart mobile terminals, IoT, smart vehicles, and satellite communications [1] Industry Context - The RF front-end sector is experiencing a significant market opportunity, projected to reach hundreds of billions, alongside domestic substitution benefits [1] - Angrui Microelectronics has achieved industry-leading modularization capabilities, becoming one of the few domestic manufacturers to achieve large-scale shipments of complex modules [1] - The company's 5G high-integration module technology and product performance have reached a leading position domestically and are internationally advanced, successfully breaking the monopoly of international manufacturers in the 5G L-PAMiD module market [1] Investment Strategy - Shangfeng Cement has been steadily investing in new quality businesses in the semiconductor and new energy sectors, accumulating resources for transformation and development [2] - The investment in Angrui Microelectronics is expected to confirm the value of Shangfeng Cement's equity investments, providing investment returns and strengthening the strategic resource foundation for its "dual-wheel drive" strategy [2]

证券代码：000672 证券简称：上峰水泥 公告编号：2025-073 甘肃上峰水泥股份有限公司 关于控股股东部分股份质押的公告 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。 1、本次股份质押的基本情况 2、控股股东股份累计质押的情况 截至本公告披露日，控股股东及其一致行动人所持质押股份情况如下： 1 | | | | | | | | 已质押股份 | | 未质押股份 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | 情况 | | 情况 | | | 股东 | 持股数 | 持股比 | 本次质押前 | 本次质押后 | 占其所 | 占公司 | | | | | | | | | 质押股份数 | 质押股份数 | 持股份 | 总股本 | 已质押 | 占已 | 未质押 | 占未 | | 名称 | 量（股） | 例 | | | | | 股份限 | 质押 | 股份限 | 质押 | | | | | 量（股） | 量（股） | 比例 | 比例 | 售和冻 | 股 ...

Core Viewpoint - The announcement from Shangfeng Cement indicates that its controlling shareholder, Zhejiang Shangfeng Holding Group, has pledged a portion of its shares, raising concerns about the company's financial stability and shareholder confidence [1] Group 1: Share Pledge Details - Zhejiang Shangfeng Holding Group has pledged 24 million shares of Shangfeng Cement, which represents approximately 36.43% of the total shares held by the group and its concerted parties [1] - The total number of pledged shares by the controlling shareholder and its concerted parties amounts to about 117 million shares [1] Group 2: Financial Performance - For the first half of 2025, Shangfeng Cement's revenue composition is as follows: cement and clinker account for 95.59%, while other businesses contribute 4.41% [1] - As of the announcement date, Shangfeng Cement has a market capitalization of 9.9 billion yuan [1]

证券代码：000672 证券简称：上峰水泥 公告编号：2025-072 甘肃上峰水泥股份有限公司 关于控股股东部分股份质押的公告 1、本次股份质押的基本情况 2、控股股东股份累计质押的情况 截至本公告披露日，控股股东及其一致行动人所持质押股份情况如下： 1 | | | | | | | | 已质押股份 | | 未质押股份 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | 情况 | | 情况 | | | 股东 | 持股数 | 持股比 | 本次质押前 | 本次质押后 | 占其所 | 占公司 | 已质押 | 占已 | 未质押 | 占未 | | | | | 质押股份数 | 质押股份数 | 持股份 | 总股本 | | | | | | 名称 | 量（股） | 例 | | | | | 股份限 | 质押 | 股份限 | 质押 | | | | | 量（股） | 量（股） | 比例 | 比例 | 售和冻 | 股份 | 售和冻 | 股份 | | | | | | | | | 结数量 | 比例 | 结数量 | 比 ...

Investment Rating - The report maintains a positive outlook on overseas growth and technology sectors, emphasizing the importance of identifying companies capable of navigating overseas cycles and accelerating domestic technology development [2][12]. Core Insights - The report highlights the impact of changes in the US interest rate stance on market sentiment, particularly affecting high-valuation sectors linked to overseas economies. It underscores the significance of finding resilient companies in overseas markets and the opportunity for domestic technology supply chain development [2][12]. - The report expresses optimism for the overseas and AI new materials sectors, citing the recent listing of "Le Shushi," a leading fast-moving consumer goods company in East and West Africa, as a notable addition to the overseas sector [2][12]. - In the traditional building materials and construction sectors, the focus has shifted to low-valuation or less-followed segments, with dividend policies becoming a key consideration. Companies are adapting to industry challenges by reducing capital expenditures and increasing dividends [3][13]. Summary by Sections Weekly Market Performance - The building materials index decreased by 6.46% during the week, with specific declines in glass manufacturing (-9.93%), fiberglass (-11.18%), and cement manufacturing (-6.06%) [17]. Price Changes in Building Materials - National cement prices slightly decreased by 0.4% week-on-week, with regional variations in price movements. Southern regions showed a slight increase in demand, while northern regions faced a decline due to weather conditions [26]. - The average price of float glass was reported at 1168.37 RMB/ton, reflecting a decrease of 2.26% week-on-week, with inventory levels increasing [38][52]. Sector Analysis - In the cement sector, the average price was 351 RMB/ton, down 78 RMB/ton year-on-year, with an average shipment rate of 45.7% [14]. - The fiberglass market showed stability in pricing, with the average price for 2400tex direct yarn at 3531.75 RMB/ton, a slight increase of 0.2% week-on-week [57]. - The report notes that the demand for construction materials remains weak, particularly in the completion phase, while retail segments show stable growth [16].