Material World is a weekly roundup of innovations and ideas within the materials sector, covering what’s changing in how fashion is made, scaled or engineered from emerging biomaterials and alternative leathers to sustainable substitutes and future-proof fibers. Xinxiang Bailu Chemical Fiber x Circ Circ CEO Peter Majeranowski and Bailu general manager Ji Yudong at the partnership’s signing ceremony. Circ said the partnership agreement strengthens its growing network of fiber manufacturing partners and ide ...

关于副董事长、总经理辞职的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 新乡化纤股份有限公司（以下简称"公司"）董事会近日收到公司副董事长、 总经理季玉栋先生提交的辞职报告。因个人原因，季玉栋先生申请辞去公司副董 事长、总经理、董事及其它相关职务（其原定任期至公司第十一届董事会届满之 日止），辞去上述职务后其将不在公司继续任职。季玉栋先生的辞职报告自送达 公司董事会时生效，其辞职不会导致公司董事会成员低于法定最低人数，其辞职 不会影响公司的正常运作。 证券代码：000949 证券简称：新乡化纤 公告编号：2026-011 新乡化纤股份有限公司 为确保公司经营管理工作的连续性，在新任总经理、董事选聘就任之前，由 公司董事长邵长金先生代行总经理职责。后续公司将按照法定程序进行总经理、 董事的选聘工作。 特此公告。 新乡化纤股份有限公司董事会 2026 年 3 月 20 日 截至本公告披露日，季玉栋先生持有公司股份 76,100 股，不存在应当履行 而未履行的承诺事项。 ...

证券代码：000949 证券简称：新乡化纤 公告编号：2026-012 新乡化纤股份有限公司 法定代表人：邵长金； 注册资本：壹拾陆亿伍仟陆佰捌拾玖万玖仟玖佰贰拾贰元整； 新乡化纤股份有限公司（以下简称"公司"）分别于 2025 年 12 月 22 日和 2026 年 1 月 15 日召开第十一届董事会第二十五次会议和 2026 年第一次临时股 东会，审议通过了《关于变更回购股份用途并注销的议案》《修订<公司章程>的 议案》，具体内容详见公司披露的相关公告。 近日，公司完成了相关工商变更登记手续，并取得了由河南省市场监督管理 局换发的《营业执照》，公司注册资本已变更为 1,656,899,922 元。 变更后企业法人营业执照的具体内容如下： 名称：新乡化纤股份有限公司； 统一社会信用代码：914100001700014285； 类型：其他股份有限公司（上市）； 住所：新乡经济技术开发区新长路南侧； 关于完成工商变更登记并换发营业执照的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 成立日期：1997 年 1 月 9 日； 经营范围：一般项目：纤维素纤维 ...

近日，新乡化纤股份有限公司（以下简称"公司"）收到平安证券股份有限 公司（以下简称"平安证券"）《关于更换持续督导保荐代表人的函》。平安证 券作为 2022 年度向特定对象发行股票的保荐机构，指派张斌先生和杨惠元先生 为公司保荐代表人。现因张斌先生工作变动原因，不再负责公司的持续督导保荐 工作。为保证公司持续督导保荐工作的有序进行，自接到通知函之日起平安证券 授权毕宗奎先生接替张斌先生担任公司的持续督导保荐代表人，继续履行保荐职 责。（毕宗奎先生简历详见附件）。 证券代码：000949 证券简称：新乡化纤 公告编号：2026-010 新乡化纤股份有限公司 关于更换持续督导保荐代表人的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 毕宗奎先生，金融学硕士、保荐代表人、注册会计师，现任平安证券投资银 行事业部董事总经理。于 2008 年开始从事投资银行工作，曾主持或参与奥特维、 三超新材、星星科技、金龙机电等 IPO 项目，奥特维定增、奥特维可转债、三 超新材定增、三超新材可转债、塞力医疗可转债、三一重工可转债、锡业股份定 增、锡业股份配股、岳阳纸业配股、 ...

Investment Rating - The report assigns a rating of "Buy" for the company with a target price of 8.95 [5][12]. Core Insights - The company is a core player in the spandex and biomass cellulose filament industry, with expectations for an improved spandex market structure leading to rising spandex prices [2][12]. - The company has a production capacity of 110,000 tons for biomass cellulose filament and 200,000 tons for spandex, with over 60 years of experience in product development and technology innovation [21][30]. - The financial forecast indicates a projected revenue growth from 7,379 million in 2023 to 9,340 million in 2027, with a significant increase in net profit from -42 million in 2023 to 458 million in 2027 [4][13]. Financial Summary - Total revenue is expected to be 7,379 million in 2023, with a slight decrease to 7,366 million in 2024, followed by a growth to 9,340 million by 2027, reflecting an 18.4% increase [4]. - Net profit (attributable to the parent company) is projected to recover from -42 million in 2023 to 458 million in 2027, indicating a substantial turnaround [4][12]. - Earnings per share (EPS) is forecasted to improve from -0.03 in 2023 to 0.28 in 2027 [4][19]. Business Overview - The company primarily engages in the production and sale of chemical fibers, including biomass cellulose filament and spandex fibers [21]. - The spandex market is expected to improve due to the exit of some competitors from the market, which may enhance pricing power [28]. - The biomass cellulose filament segment is positioned as a leader in production capacity and quality, with a total domestic capacity of approximately 250,000 tons by mid-2025 [30]. Market Dynamics - The domestic demand for spandex is projected to grow, with an expected apparent demand of 106,250 tons by 2025, reflecting a compound annual growth rate (CAGR) of 8.04% from 2020 to 2025 [25][32]. - The report highlights that the spandex price has shown signs of recovery, with an increase from 23,000 yuan/ton at the beginning of 2026 to 23,600 yuan/ton by March 5, 2026 [28][29].

Investment Rating - The report assigns a rating of "Buy" for the company [5] Core Viewpoints - The company is a core player in the spandex and biomass cellulose filament industry, with expectations for an improved spandex market leading to higher prices [2] - The company has a strong position in the production and sales of chemical fibers, particularly biomass cellulose filaments and spandex fibers, with a production capacity of 110,000 tons for biomass cellulose and 200,000 tons for spandex [21][22] - The financial outlook shows a projected increase in revenue and net profit over the next few years, with a target price set at 8.95 yuan based on valuation methods [12][19] Financial Summary - Total revenue is projected to be 7,379 million yuan in 2023, with a slight decrease to 7,366 million yuan in 2024, followed by increases to 7,627 million yuan in 2025 and 9,340 million yuan in 2027, reflecting an 18.4% growth [4] - Net profit attributable to the parent company is expected to recover from a loss of 42 million yuan in 2023 to a profit of 458 million yuan by 2027, indicating a significant turnaround [4] - Earnings per share (EPS) is forecasted to improve from -0.03 yuan in 2023 to 0.28 yuan in 2027 [4] Business Segments - The company’s biomass cellulose filament production is recognized for its scale, equipment level, and product quality, leading the industry in China [30] - The spandex market is expected to improve due to a reduction in competition as some companies have announced production halts, which may lead to better pricing dynamics [28] - The demand for spandex is projected to grow, with domestic consumption expected to reach 106,250 tons by 2025, reflecting a compound annual growth rate of 8.04% from 2020 to 2025 [25][32]

Core Insights - The article focuses on the sustainable carbon industry in China, particularly in the field of bio-based and recycled materials, as well as CO₂ conversion [2] Group 1: Company Developments - Xinxiang Chemical Fiber, a leader in the bio-based fiber industry, announced a significant project involving 100,000 tons of mushroom grass fiber to be launched in Tumu Shuke City, Xinjiang [5] - The company has increased its investment by 300 million yuan in two wholly-owned subsidiaries in Xinjiang, supporting the construction of a 30,000-ton bio-based cellulose fiber project [7][9] - Xinxiang Chemical Fiber's revenue for the first three quarters of 2025 reached 310 million yuan, with a net profit of 51.53 million yuan, indicating a strong growth momentum [9] Group 2: Sustainable Fiber Initiatives - The company is focusing on three major green fibers: mushroom grass fiber, which offers sustainable raw material solutions and has applications in various sectors including medical [8] - The planned expansion of mushroom grass cultivation in Xinjiang aims to increase the planting area from 10,000 acres to 60,000 acres by 2026, potentially supporting nearly 200,000 tons of fiber production during the 14th Five-Year Plan [9] Group 3: Industry Trends and Government Support - The shift from "technology validation" to "scale realization" in the bio-based fiber sector is highlighted by Xinxiang Chemical Fiber's 47.44% year-on-year revenue growth, reaching 2 billion yuan in Q3 2025 [10] - The national strategy recognizes the importance of high-efficiency bio-synthesis theories for new fiber materials, indicating strong governmental support for the industry [10] - Various companies are advancing in the bio-based materials sector, with significant investments and projects underway, including the establishment of integrated industrial bases for bio-based nylon and PLA fibers [13]

证券代码：000949 证券简称：新乡化纤 公告编号：2026-007 新乡化纤股份有限公司 关于为全资子公司新疆天鹭新材料科技有限公司 提供担保的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、担保情况概述 新乡化纤股份有限公司（以下简称"公司"）全资子公司新疆天鹭新材料科 技有限公司（以下简称"新疆天鹭"）因"年产 3 万吨生物质纤维素纤维项目" 二期、三期工程建设需要，拟就相关项目申请银行贷款金额 5.49 亿元，由公司 为其提供连带责任保证担保。 公司于 2026 年 3 月 2 日召开了第十一届董事会第二十六次会议，会议审议 通过了《关于为全资子公司新疆天鹭新材料科技有限公司提供担保的议案》，同 意公司为全资子公司新疆天鹭提供相关担保，担保额度不超过人民币 5.49 亿元， 本议案无需提交股东会审议。 近期，公司与中国建设银行股份有限公司喀什地区分行签订了《保证合同》 （合同编号：HTC650746600YBDB2026N002），约定公司为新疆天鹭与该银行签订 的《固定资产贷款合同》（合同编号：HTZ650746600GDZC2026N0 ...

证券代码： 000949 证券简称：新乡化纤 公告编号：2026-008 新乡化纤股份有限公司 关于全资子公司新疆天鹭新材料科技有限公司 二、所涉标的基本情况 1、公司名称：新疆天鹭新材料科技有限公司； 7、经营范围：纤维素纤维、合成纤维、纱、线、纺织品的制造、染整等深 加工和销售；棉浆粕的制造与销售；自有房屋租赁；设备租赁及技术对外服务； 副产品元明粉的销售；货物及技术的进出口业务；经营本企业的进料加工、来料 2、统一社会信用代码：91659003MA78LNYE5G； 3、注册资本：50,000万元人民币； 4、成立时间：2020年3月30日； 5、法定代表人：季玉栋； 6、注册地址：新疆图木舒克市达坂山工业园； 投资进展的公告 加工、来料装配、来样加工、补偿贸易业务。（依法须经批准的项目，经相关部 门批准后方可开展经营活动） 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、增资事项概述 新乡化纤股份有限公司（以下简称"公司"或"新乡化纤"）于2026年3月2 日召开第十一届董事会第二十六次会议，审议通过了《关于全资子公司新疆天鹭 新材料科技有限公司投 ...

证券代码： 000949 证券简称：新乡化纤 公告编号：2026-009 新乡化纤股份有限公司 关于全资子公司新疆华鹭生物基新材料科技有限公司 投资进展的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、增资事项概述 工；货物进出口；住房租赁；非居住房地产租赁（除依法须经批准的项目外，凭 营业执照依法自主开展经营活动） 新乡化纤股份有限公司（以下简称"公司"或"新乡化纤"）于2026年3月2 日召开第十一届董事会第二十六次会议，审议通过了《关于全资子公司新疆华鹭 生物基新材料科技有限公司投资进展的议案》，为满足全资子公司新疆华鹭生物 基新材料科技有限公司（曾用名：新疆白鹭纤维有限公司，以下简称"新疆华鹭"） 业务发展需要，同意对新疆华鹭增加注册资本10,000万元。本次增资后，新疆华 鹭注册资本将增加至20,000万元，公司仍持有其100%股权。公司董事会授权经营 层具体办理子公司增资事宜。本次增资有利于发挥公司与新疆华鹭在原料供应、 产业链布局上的协同效应，与公司主业形成有效互补与支撑，推动公司产业链一 体化布局与高质量发展。 本次投资金额在公司董事 ...