证券代码：000672 证券简称：上峰水泥 公告编号：2025-064 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、与专业投资机构共同投资情况概述 为落实战略发展规划，在立足主业的同时适度开展新经济股权投资，以提升 企业可持续发展综合竞争力，甘肃上峰水泥股份有限公司（以下简称"公司"或 "本公司"）以全资子公司宁波上融物流有限公司（以下简称"宁波上融"）为出 资主体与专业机构合作投资江苏鑫华半导体科技股份有限公司（以下简称"鑫华 半导体"），投资金额为 5,000 万元。 本次合作投资事项属于经公司第十届董事会第四十次会议审议通过的新经 济产业投资额度范围内，无需提交公司股东会审议。 本次合作对外投资事项不构成同业竞争或关联交易，也不构成《上市公司重 大资产重组管理办法》规定的重大资产重组。 二、共同投资合作设立基金情况 企业名称：合肥国材叁号企业管理合伙企业（有限合伙） 企业类型：有限合伙企业 统一社会信用代码：91330206MA2AJGUAXT 甘肃上峰水泥股份有限公司 关于与专业投资机构共同投资暨新经济股权投资进展的公告 成立时间：2025 年 ...

Market Overview - The cement sector increased by 2.66% on October 9, with Tianshan Co. leading the gains [1] - The Shanghai Composite Index closed at 3933.97, up 1.32%, while the Shenzhen Component Index closed at 13725.56, up 1.47% [1] Individual Stock Performance - Tianshan Co. (000877) closed at 6.57, up 9.14% with a trading volume of 1.4871 million shares [1] - Qingsong Jianhua (600425) closed at 4.68, up 5.64% with a trading volume of 1.2673 million shares [1] - Xibu Construction (002302) closed at 6.94, up 5.31% with a trading volume of 453,600 shares [1] - Wan Nian Qing (000789) closed at 6.04, up 4.14% with a trading volume of 193,400 shares [1] - Other notable performers include Tapai Group (002233) and Sichuan Jinding (600678), with increases of 2.63% and 2.60% respectively [1] Fund Flow Analysis - The cement sector saw a net inflow of 233 million yuan from institutional investors, while retail investors experienced a net outflow of 62.51 million yuan [2] - Major stocks like Tianshan Co. and Conch Cement (600585) had significant fund flow variations, with Tianshan Co. experiencing a net outflow of 90.91 million yuan from institutional investors [3] - Conch Cement had a net inflow of 87.31 million yuan from institutional investors, indicating strong interest [3]

Market Performance - The cement sector increased by 0.39% on September 30, with Shangfeng Cement leading the gains [1] - The Shanghai Composite Index closed at 3882.78, up 0.52%, while the Shenzhen Component Index closed at 13526.51, up 0.35% [1] Individual Stock Performance - Shangfeng Cement (000672) closed at 11.02, up 9.98% with a trading volume of 456,100 shares and a turnover of 500 million yuan [1] - Other notable performers include Yusong Jianhua (600425) with a 2.55% increase, Huaxin Cement (600801) up 1.04%, and Fujian Cement (600802) up 0.68% [1] Capital Flow Analysis - The cement sector saw a net inflow of 188 million yuan from institutional investors, while retail investors experienced a net outflow of 58.18 million yuan [2] - Major stocks like Shangfeng Cement had a significant net inflow of 170 million yuan from institutional investors, indicating strong institutional interest [3] Summary of Stock Flows - Shangfeng Cement had a net institutional inflow of 170 million yuan, accounting for 34.04% of its trading volume, while retail investors showed a net outflow of 81.13 million yuan [3] - Other stocks like Xizang Tianlu (600326) and Huaxin Cement (600801) also experienced net inflows from institutional investors, although retail investors withdrew funds [3]

Group 1 - The cement sector increased by 0.9% on September 29, with Shangfeng Cement leading the gains [1] - The Shanghai Composite Index closed at 3862.53, up by 0.9%, while the Shenzhen Component Index closed at 13479.43, up by 2.05% [1] Group 2 - In terms of capital flow, the cement sector experienced a net outflow of 71.26 million yuan from main funds and 80.95 million yuan from speculative funds, while retail investors saw a net inflow of 152 million yuan [2] - Detailed capital flow for individual stocks in the cement sector is provided in the accompanying table [2]

Core Viewpoint - The introduction of the "Building Materials Industry Stabilization and Growth Work Plan (2025-2026)" aims to accelerate the elimination of inefficient cement production capacity, leading to a potential rebound in cement prices beyond expectations [1][4]. Industry Overview - The cement industry is currently facing a low capacity utilization rate of around 50%, attributed to declining demand in the real estate market and increased staggered production halts [1][2]. - The new policy prohibits the addition of new cement clinker capacity and requires companies to develop capacity replacement plans by the end of 2025 for any excess production [1][4]. Capacity Management - The implementation of the capacity replacement plan is expected to reduce clinker capacity by approximately 10%, which may accelerate price recovery in the industry [4][5]. - Major companies are expected to accelerate market consolidation, improving industry concentration, which currently stands at 56.5% for the top ten clinker producers [5][6]. Demand and Production Adjustments - Various regional cement associations are mandating staggered production halts, with the Sichuan Cement Association requiring each clinker production line to halt for at least 15 days per month in Q4 [2]. - The overall sentiment in the industry indicates a pessimistic outlook for Q4 demand, prompting increased production halts [2][3]. Financial Performance - In the first half of the year, 73 listed building materials companies reported revenues of 305.5 billion yuan, with net profits of only 11.8 billion yuan, indicating a challenging financial environment [3]. - Some leading cement companies have shifted from profit to loss, highlighting the impact of declining demand [3]. Strategic Responses - Companies are exploring cross-industry transformations to mitigate cyclical downturns, with some investing in sectors like semiconductors and renewable energy [6]. - The policy encourages leading companies to collaborate with social capital to establish green low-carbon transition funds, facilitating the exit of inefficient production capacity [5][6].

Group 1 - The company received notification from its controlling shareholder, Zhejiang Shangfeng Holding Group Co., Ltd., regarding the pledge of a portion of its shares [1] - The announcement includes details about the basic situation of the share pledge and the cumulative pledge situation of the controlling shareholder and its concerted parties [1] - The company has provided a securities pledge registration certificate as a reference document [1]

Group 1 - The company, Shangfeng Cement, announced that its controlling shareholder, Zhejiang Shangfeng Holding Group Co., Ltd., pledged 12,000,000 shares to Ningbo Bank Co., Ltd. Shaoxing Branch [2] - The purpose of the share pledge is to supplement working capital [2]

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。 一、本次控股股东股份质押基本情况 甘肃上峰水泥股份有限公司（以下简称"公司"）近日接到公司控股股东浙江 上峰控股集团有限公司（以下简称"上峰控股"）通知，获悉上峰控股所持有本公 司的部分股份被质押，具体事项如下： | | 是否为控 | | | | 是否为限 | 是否 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 | 股股东或 | 本次质 | 占其所 | 占公司 | 售股（如 | 为补 | 质押起 | 质押到 | | 质押 | | 名称 | 第一大股 | 押数量 | 持股份 | 总股本 | 是，注明限 | 充质 | 始日 | 期日 | 质权人 | 用途 | | | 东及其一 | （股） | 比例 | 比例 | 售类型） | 押 | | | | | | | 致行动人 | | | | | | | | | | | 上峰 | 是 | 12,000, ...

Core Viewpoint - Gansu Shangfeng Cement Co., Ltd. announced that its controlling shareholder, Zhejiang Shangfeng Holding Group Co., Ltd., pledged 12 million shares, representing 3.73% of its holdings and 1.24% of the company's total share capital, to supplement liquidity [1] Group 1 - The pledge initiation date is September 25, 2025, with the pledgee being Ningbo Bank Co., Ltd. Shaoxing Branch [1] - After the pledge, the total number of pledged shares by Shangfeng Holding and its concerted parties will reach 93.1 million shares, accounting for 28.96% of their holdings and 9.60% of the company's total share capital [1] - As of the announcement date, Shangfeng Holding and its concerted parties hold 321,479,293 shares, which is 33.16% of the total shares [1]

Group 1 - The stock price of Shangfeng Cement increased by 5.3% to 9.74 CNY per share, with a trading volume of 148 million CNY and a turnover rate of 1.62%, resulting in a total market capitalization of 9.442 billion CNY [1] - Shangfeng Cement, established on March 6, 1997, and listed on December 18, 1996, is primarily engaged in the production and sales of cement products, including cement clinker, special cement, concrete, and aggregates [1] - The revenue composition of Shangfeng Cement is as follows: cement 69.85%, clinker 16.78%, sand and gravel aggregates 6.20%, concrete 2.76%, environmental disposal 2.25%, other businesses 1.96%, and real estate 0.21% [1] Group 2 - Hai Fu Tong Fund has a significant holding in Shangfeng Cement, with the Hai Fu Tong Style Advantage Mixed Fund (519013) holding 1.1662 million shares, accounting for 2.77% of the fund's net value, making it the seventh-largest holding [2] - The Hai Fu Tong Style Advantage Mixed Fund has achieved a year-to-date return of 28.1%, ranking 3502 out of 8171 in its category, and a one-year return of 48.87%, ranking 3063 out of 8004 [2] - The fund manager, Lu Yiwen, has been in charge for 5 years and 26 days, with the fund's total asset size at 3.32 billion CNY [3]