依据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民 共和国证券法》（以下简称"《证券法》"）、《上市公司股权激励管理办法》 （以下简称"《管理办法》"）、《国有控股上市公司（境内）实施股权激励试 行办法》（以下简称"《试行办法》"）、《中央企业控股上市公司实施股权激 励工作指引》（以下简称"《工作指引》"）等法律法规、规范性文件和公司章 程的相关规定，北新集团建材股份有限公司（以下简称"公司"）董事会薪酬与 考核委员会对公司 2024 年限制性股票激励计划调整首次授予价格及首次授予事 项进行了核查，现发表核查意见如下： 一、对公司 2024 年限制性股票激励计划调整首次授予价格的核查意见 鉴于公司 2024 年度利润分配方案已实施完毕，根据《管理办法》《2024 年 限制性股票激励计划（草案修订稿）》及公司 2025 年度第二次临时股东大会的 授权，公司对本次激励计划限制性股票的授予价格进行相应调整。 北新集团建材股份有限公司 董事会薪酬与考核委员会 关于公司 2024 年限制性股票激励计划 调整首次授予价格及首次授予事项的核查意见 1 （本页无正文，为北新集团建材股份有限公司董事会薪酬与考核 ...

Core Viewpoint - Beixin Building Materials is leveraging continuous research and innovation to capture opportunities in the housing market, maintaining full production and sales despite market challenges [1][3]. Group 1: Research and Development - The company invests approximately 4% of its annual revenue into research and development, focusing on product innovation and cost reduction [1]. - R&D expenditures have shown a growth trend, with investments of 875 million, 861 million, and 952 million yuan from 2021 to 2023, totaling 2.688 billion yuan. For 2024, the R&D budget is projected to reach 1.058 billion yuan, an increase of 11.19% [3]. - The company holds a total of 5,253 valid patents as of the end of 2024 [3]. Group 2: Product Innovation - A newly developed heating board offers integrated heating solutions that do not occupy indoor space, heating up in 1 to 2 minutes compared to traditional methods that take 12 to 24 hours [3]. - The company has launched a new product line that has seen monthly sales increase from 200,000 square meters to over 1 million square meters within 10 months, indicating strong market demand [4]. Group 3: Digital Transformation and Cost Efficiency - Beixin Building Materials is accelerating its digital transformation, aiming for digital design and R&D, intelligent production operations, and integrated supply chain management, which significantly reduces operational costs [4]. - The company operates its Tianjin facility with fewer than 80 employees, showcasing the efficiency gained through digitalization [4]. Group 4: Market Adaptation and New Business Models - The company is adapting to changing housing demands by exploring new business models that integrate products and services, including online sales channels to enhance customer access [5]. - Beixin is developing a new repair and renovation product line to address the aging housing stock in China, aiming to transform old houses into desirable living spaces [5].

Investment Rating - The report maintains an "Overweight" rating for the construction materials sector [4] Core Viewpoints - The construction materials sector is experiencing a demand season that is not significantly weak, supported by delayed renovations in the second-hand housing market [2] - The glass market is facing a contradiction between supply and demand, with a continuous decline in demand expected post-2025, although there has been marginal improvement since March [2] - The cement industry is in a phase of seeking a bottom, with increased off-peak production efforts by companies, leading to fluctuating prices around unprofitable levels [2] - The fiberglass market has shown signs of bottoming out, with price wars ending and prices beginning to recover, particularly in the wind power sector [2] - Carbon fiber demand is slowly recovering, with growth expected in downstream sectors such as wind power and hydrogen bottles [2] Summary by Sections Cement Industry Tracking - As of June 20, 2025, the national cement price index is 362.67 yuan/ton, down 0.21% from the previous week, with a total cement output of 2.781 million tons, a decrease of 2.88% [3][16] - The cement market is currently in a phase of "weak reality" and "weak expectations," with potential for weak recovery by the end of Q3 if policies are strengthened or the rainy season ends [16] Glass Industry Tracking - The average price of float glass is 1209.75 yuan/ton, down 1.64% from the previous week, with inventory levels increasing [32] - The market is expected to experience short-term price fluctuations downward, with ongoing challenges in meeting demand during the seasonal downturn [32] Fiberglass Industry Tracking - The price of non-alkali roving has shown a stable decline, with demand for high-end products like wind power yarn performing relatively well [6] - The overall price of fiberglass is expected to maintain a weak and stable trend in the short term [6] Carbon Fiber Industry Tracking - The carbon fiber market price remains stable, with a weekly production of 1781 tons and an operating rate of 60.13% [7] - The industry continues to face losses, with a production cost of 106,500 yuan/ton and a negative gross margin [7] Key Stocks - Recommended stocks include Beixin Building Materials (Buy), Weixing New Materials (Overweight), and China Jushi (Buy) with respective EPS forecasts for 2024A to 2027E [8]

Core Insights - The rapid urban construction in China has led to increased energy consumption in the building industry, necessitating the promotion of green building energy-saving products to mitigate high energy consumption and support the development of energy-efficient construction projects [1][2]. Industry Overview - The building energy-saving industry in China is characterized by a growing market for energy-efficient products, driven by the need to address high energy consumption in construction projects [1]. - Key companies in the industry include China National Materials Group Corporation (中材节能), Beixin Building Materials (北新建材), and others [1]. Energy-Saving Product Types - **Ventilation, Lighting, Heating**: Products such as doors, windows, membranes, and low-emission glass are designed to optimize natural ventilation and lighting, thereby reducing energy consumption [3]. - **Building Envelope Structures**: Energy-saving designs for roofs, doors, and walls improve insulation and reduce energy use, enhancing indoor air quality and comfort [3]. - **Indoor Energy Efficiency**: High-efficiency central air conditioning and heating systems are essential for minimizing energy consumption [3]. Market Size and Growth - The Chinese central air conditioning market has seen continuous growth, with sales reaching 142.9 billion yuan in 2023, an increase of 11.1% year-on-year, and projected to reach 145.8 billion yuan in 2024 [4]. - The production of laminated glass, known for its excellent thermal insulation properties, reached 14.71 million square meters in 2023, with expectations to exceed 15 million square meters in 2024 [5]. Importance of Windows and Doors - Windows and doors are critical components affecting building energy efficiency, accounting for approximately 45%-50% of energy loss in building envelopes [9]. - Poor insulation performance of existing windows leads to significant energy waste, with single-glazed windows causing heat loss of 30%-50% during winter and contributing to 20%-30% of cooling loads in summer [9]. Heating Energy Efficiency Market - Investment in urban heating systems is closely linked to building energy efficiency, with a focus on high-efficiency heating system upgrades and energy-saving optimization of building envelopes [11]. - The fixed asset investment in urban centralized heating has fluctuated between 30-40 billion yuan from 2019 to 2022, with projections for 2024 nearing 40 billion yuan [11].

Core Viewpoint - The new wall materials industry is experiencing significant growth due to the increasing demand for lightweight, energy-efficient, and multifunctional building materials, with a projected market size of 13,200.7 billion yuan in 2024 and 13,489 billion yuan in 2025 [1][8][19]. Industry Definition and Classification - New wall materials are defined as lightweight, energy-saving, high-strength, and multifunctional building materials made from silicate-based raw materials like concrete, cement, and sand, incorporating industrial waste and construction debris [2][3]. - The classification of new wall materials includes non-clay brick materials, building panels, and building blocks, with types such as concrete hollow blocks, aerated concrete blocks, and gypsum boards [3]. Industry Development Status - The rapid expansion of the construction and real estate sectors in China has led to a conflict with environmental protection efforts, necessitating a shift towards energy-efficient buildings and the adoption of new wall materials [6][8]. - The market for new wall materials saw a decline from 15,620.1 billion yuan in 2021 to 13,200.7 billion yuan in 2024, with a slight recovery expected in 2025 [8]. Industry Chain Structure - The industry chain consists of upstream raw materials (concrete, cement, sand, industrial waste), midstream research and production of new wall materials, and downstream applications in real estate, infrastructure, and prefabricated buildings [10]. Industry Competition Landscape - Major players in the new wall materials market include China National Building Material Group, Anhui Conch Cement, and Xiamen Jianfa Group, which dominate a significant portion of the market share [15][19]. - The competition is intensifying as more companies invest in the research and development of new wall materials to meet the growing demand for environmentally friendly and energy-efficient construction solutions [15]. Industry Development Recommendations - The industry is encouraged to utilize agricultural and industrial waste in the production of new wall materials, which can lead to both environmental and economic benefits [23].

Investment Rating - The report maintains a recommendation for the building materials industry [2] Core Views - The real estate chain is stabilizing due to continued policy support, and industrial transformation is aiding fundamental recovery [1] - The cement market is experiencing weak demand and price fluctuations, while the float glass market is seeing price declines and weak shipments [1][12][13] - The consumption building materials sector is benefiting from ongoing "good housing" construction initiatives, with leading companies in sub-sectors maintaining their advantages [15][16] Summary by Sections 1. Weekly Core Views - Cement Industry: Demand remains poor, with prices continuing to decline. The national average cement price fell by 0.9% week-on-week, with significant price drops in regions like North China and South China [12][22] - Float Glass Industry: Prices are declining, with the national average price at 1200 RMB/ton, down 7.14 RMB/ton from the previous week. The market is facing weak demand and cautious purchasing behavior [13] - Fiberglass Industry: The price of non-alkali roving remains stable, while electronic yarn prices are seeing slight increases due to tight supply [14] - Consumption Building Materials: The government is emphasizing affordable housing and youth apartment supply, which is expected to boost demand for consumption building materials [15][16] 2. Industry Dynamics - Macro: The e-commerce logistics index in May rose to 111.6 points, indicating a steady increase in supply and demand [20] - Real Estate: Policies are being implemented to enhance community services and support flexible employment in housing funds [20] - Infrastructure: Investment in railway and civil aviation construction is expected to grow, with significant projects planned for unconventional water development [21] 3. Recommended Stocks - Weixing New Materials: Transitioning to a system integration service provider with a focus on risk control and sustainable growth [17] - Mona Lisa: Aiming for high-end market positioning with continuous improvement in operational quality [18] - Keshun Co.: Expected recovery in profitability as the waterproofing industry consolidates [19] - North New Materials: Expanding globally with a focus on gypsum board and related products [19] - Dongpeng Holdings: Diversifying product offerings to meet comprehensive consumer needs [19]

证券代码：000786 证券简称：北新建材 公告编号：2025-037 北新集团建材股份有限公司 关于增加 2025 年度第二次临时股东大会临时提案 暨补充通知的公告 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。 北新集团建材股份有限公司（以下简称"公司"）于 2025 年 6 月 3 日在《证 券日报》《证券时报》《上海证券报》《中国证券报》、深圳证券交易所的网站 （ 网 址 :http://www.szse.cn ） 及 巨 潮 资 讯 网 站 （ 网 址 ： http://www.cninfo.com.cn）披露了《关于召开 2025 年度第二次临时股东大会 的通知》。 一、增加临时提案情况 "中国建材"）递交的《关于增加北新集团建材股份有限公司 2025 年度第二次 临时股东大会临时提案的函》，提议将《关于修改公司章程的议案》《关于取消 公司监事会并废止公司监事会议事规则的议案》作为新增临时提案，提交公司拟 于 2025 年 6 月 27 日召开的 2025 年度第二次临时股东大会审议。 《关于修改公司章程的议案》、第七届监事会第十五次临时会议审议通过 ...

证券代码：000786 证券简称：北新建材 公告编号：2025-037 北新集团建材股份有限公司 关于增加 2025 年度第二次临时股东大会临时提案 暨补充通知的公告 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。 北新集团建材股份有限公司（以下简称"公司"）于 2025 年 6 月 3 日在《证 券日报》《证券时报》《上海证券报》《中国证券报》、深圳证券交易所的网站 （网址 :http://www.szse.cn ） 及 巨 潮 资 讯 网 站 （ 网 址 ： http://www.cninfo.com.cn）披露了《关于召开 2025 年度第二次临时股东大会 的通知》。 一、增加临时提案情况 2025 年 6 月 16 日，公司收到控股股东中国建材股份有限公司（以下简称 "中国建材"）递交的《关于增加北新集团建材股份有限公司 2025 年度第二次 临时股东大会临时提案的函》，提议将《关于修改公司章程的议案》《关于取消 公司监事会并废止公司监事会议事规则的议案》作为新增临时提案，提交公司拟 于 2025 年 6 月 27 日召开的 2025 年度第二次临时股东 ...

Core Viewpoint - The new building materials industry in China is experiencing significant growth due to its superior performance, environmental characteristics, and energy efficiency, making it a key component of the construction sector with vast market potential and promising development prospects [1][3][23]. New Building Materials Industry Definition and Classification - New building materials are defined as a new category of construction materials distinct from traditional bricks and stones, primarily including new wall materials, insulation materials, waterproof materials, and decorative materials [1][3]. Current Development Status of the New Building Materials Industry - The rapid economic development and rising living standards in China have increased demand for housing, providing opportunities for the construction industry. The performance and variety of building materials significantly impact construction methods and safety [3][4]. Market Size and Growth Projections - The market size for new building materials in China is projected to reach CNY 20,661.6 billion in 2024, with specific segments such as waterproof materials at CNY 964.9 billion and wall materials at CNY 13,200.7 billion. By 2025, the market size is expected to grow to approximately CNY 21,099.6 billion [4][6]. Industry Chain Structure - The new building materials industry chain encompasses a complete range from raw materials to end applications, including upstream materials like cement and polymers, midstream production of new building materials, and downstream applications in green buildings and infrastructure [8]. Competitive Landscape - The new building materials market in China is characterized by diversification and differentiation, with leading companies such as Conch New Materials, Beixin Building Materials, China Jushi, and Fangda Group emerging as key players [14][18]. Key Enterprises Overview - Conch New Materials reported a revenue of CNY 5.276 billion in 2024, while Beixin Building Materials achieved CNY 25.821 billion, and China Jushi reached CNY 15.227 billion [16][21]. Development Environment and Technological Innovation - The Chinese government is increasingly supporting green building initiatives, with policies aimed at promoting the development of new building materials. The number of patents in this sector has reached 1,457 from 2016 to 2024, indicating a growing focus on innovation [12][23]. Future Trends - The new building materials industry is expected to continue its growth trajectory, driven by advancements in technology and a focus on sustainability, energy efficiency, and smart building solutions [23].

北新集团建材股份有限公司（以下简称"公司"）第七届监事会第十五次临 时会议于 2025 年 6 月 13 日以现场结合通讯方式召开，现场会议地点为北京未来 科学城七北路 9 号北新中心 A 座 17 层会议室。会议通知于 2025 年 6 月 10 日以 电子邮件方式发出，本次会议应出席监事 3 人，实际出席 3 人。会议由监事会主 席于月华女士主持，符合相关法律、法规和规范性文件以及公司章程的有关规定。 证券代码：000786 证券简称：北新建材 公告编号：2025-036 北新集团建材股份有限公司 本公司及监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。 一、监事会会议召开情况 的贡献表示衷心感谢！ 三、备查文件 二、监事会会议审议情况 会议经审议，以 3 票同意，0 票反对，0 票弃权审议通过了《关于取消公司 监事会并废止公司监事会议事规则的议案》。 同意公司不再设置监事会和监事，由董事会审计委员会行使《中华人民共和 国公司法》规定的监事会职权；公司《监事会议事规则》相应废止。 该议案需提交公司股东大会审议。 截至本公告披露日，于月华女士、司艳杰女士、刘婕卉女士未持 ...