Core Viewpoint - The company, Xinxiang Chemical Fiber (000949), announced a planned shutdown and renovation of its biomass cellulose filament production line in the northern region, set to begin on October 1, 2025, for approximately 90 days, with a resumption of normal production expected on January 1, 2026 [1] Summary by Relevant Categories Production and Operations - The northern region's biomass cellulose filament production line will undergo an orderly shutdown for renovation, lasting about 90 days [1] - Normal production is anticipated to resume on January 1, 2026, following the completion of the renovation [1] - The successful resumption of this production line is expected to gradually restore the normal supply of biomass cellulose filament products [1] Efficiency and Stability - The renovation aims to enhance the stability and operational efficiency of the related production line [1]

证券代码：000949 证券简称：新乡化纤 公告编号：2026-001 1、与原辅材料供应商、下游市场客户密切沟通，对接采购计划与订单交付需求， 保障供应链全链路衔接顺畅； 新乡化纤股份有限公司 关于公司部分生产线复产的公告 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。 一、基本情况 2025 年 10 月 1 日起，新乡化纤股份有限公司（以下简称"公司"）对北区生物质 纤维素长丝生产线设备进行有序停产改造，停产改造时间约为 90 天，详见公司于 2025 年 9 月 23 日披露的《关于公司部分生产线停产改造的公告》（公告编号：2025-031）。 自 2026 年 1 月 1 日起，公司北区生物质纤维素长丝生产线设备完成上述停产改造， 相关车间开始恢复正常生产。 二、对公司的影响 本次生产线顺利复产，将逐步恢复公司生物质纤维素长丝产品的正常供应，进一步 提升相关生产线的稳定性与运行效率。 三、公司对恢复生产工作的相关安排 为确保生产线顺利复产、尽快恢复稳定运营，公司已提前开展多维度准备工作： 2、制定详细复产方案，统筹协调多部门推进物料筹备、工艺调试及 ...

Core Viewpoint - The company, Xinxiang Chemical Fiber Co., Ltd., will undergo a scheduled shutdown and renovation of its biomass cellulose filament production line starting from October 1, 2025, for approximately 90 days, aiming to enhance production stability and efficiency [1] Group 1 - The renovation of the biomass cellulose filament production line is set to begin on October 1, 2025, and will last for about 90 days [1] - The production line is expected to resume normal operations on January 1, 2026, following the completion of the renovation [1] - The successful resumption of the production line will gradually restore the normal supply of biomass cellulose filament products [1]

Core Viewpoint - The company, Xinxiang Chemical Fiber Co., Ltd., will initiate a planned shutdown and renovation of its biomass cellulose filament production line in the northern region starting from October 1, 2025, for approximately 90 days, aiming to enhance production stability and efficiency [1] Group 1 - The shutdown and renovation of the production line is scheduled to begin on October 1, 2025, and will last for about 90 days [1] - The production line is expected to resume normal operations on January 1, 2026, following the completion of the renovation [1] - The successful resumption of the production line will gradually restore the normal supply of biomass cellulose filament products [1]

Group 1 - The chemical fiber sector experienced a 0.46% increase on December 30, with N Shuangxin leading the gains [1] - The Shanghai Composite Index closed at 3965.12, showing no change, while the Shenzhen Component Index rose by 0.49% to 13604.07 [1] - N Shuangxin's stock price surged by 187.30% to 19.68, with a trading volume of 1.4599 million shares and a transaction value of 30.45 billion [1] Group 2 - The chemical fiber sector saw a net inflow of 35.49 million from institutional investors, while retail investors experienced a net outflow of 810 million [2][3] - The top stocks in the sector included Xin Fengming, which rose by 7.86% to 19.90, and Shenma Co., which increased by 3.31% to 9.35 [1] - The overall trading volume for the chemical fiber sector was significant, with N Shuangxin leading in both net inflow and trading activity [3]

Group 1 - The core viewpoint of the news is that the Henan state-owned enterprise reform sector experienced a significant increase of 1.87% on December 24, with Hezhong Sijuan leading the gains [1] - The Shanghai Composite Index closed at 3940.95, up 0.53%, while the Shenzhen Component Index closed at 13486.42, up 0.88% [1] - The top-performing stocks in the Henan state-owned enterprise reform sector included Hezhong Sijuan, which rose by 9.96% to a closing price of 11.37, and Rongke Technology, which increased by 9.91% to 31.72 [1] Group 2 - The net inflow of main funds in the Henan state-owned enterprise reform sector was 189 million yuan, while retail funds saw a net outflow of 9.36 million yuan [2] - The stock with the highest net inflow from main funds was Hezhong Sijuan, with a net inflow of 253 million yuan, accounting for 50.97% of the total [3] - Other notable stocks included Yuguang Jinlead, which had a net inflow of 39.30 million yuan, and Xinxiang Chemical Fiber, with a net inflow of 17.53 million yuan [3]

Group 1 - Xinxiang Chemical Fiber Co., Ltd. experienced a stock price increase of 5.5%, reaching 5.37 CNY per share, with a trading volume of 296 million CNY and a turnover rate of 3.37%, resulting in a total market capitalization of 9.131 billion CNY [1] - The company, established on January 9, 1997, and listed on October 21, 1999, specializes in the production and sales of viscose filament, viscose staple fiber, and spandex, with revenue composition of 58.51% from spandex fiber, 38.34% from biomass cellulose filament, and 3.15% from other products [1] Group 2 - Zhongyou Fund holds a significant position in Xinxiang Chemical Fiber, with its fund "Zhongyou Advanced Manufacturing Mixed Initiation A" (024261) owning 110,000 shares, accounting for 1.44% of the fund's net value, making it the ninth largest holding [2] - The fund has a total scale of 15.8736 million CNY and has generated a return of 0.29% since its inception on July 29, 2025 [2] Group 3 - The fund manager of "Zhongyou Advanced Manufacturing Mixed Initiation A" is Jin Zhenzhen, who has been in the position for 3 years and 126 days, managing total assets of 1.904 billion CNY, with the best fund return during the tenure being 62.13% and the worst being -7.36% [3]

Core Viewpoint - Xinxiang Chemical Fiber plans to invest 1.22 billion yuan to expand production capacity by constructing a project for an annual output of 100,000 tons of functional spandex fiber, aiming to optimize product structure and enhance production scale [1][8]. Group 1: Investment and Project Details - The investment of 1.22 billion yuan will be used for the first phase of the project, which will produce 50,000 tons of ultra-fine denier spandex fiber annually [8]. - The project is set to begin construction in the first quarter of 2026 and will take 14 months to complete [8]. - Upon reaching full production, the project is expected to generate an additional annual sales revenue of 1.15 billion yuan and a profit of 100 million yuan [2][8]. Group 2: Financial Performance and Challenges - As of September 2025, Xinxiang Chemical Fiber had interest-bearing liabilities of approximately 5.345 billion yuan, with cash and cash equivalents of only 1.229 billion yuan, indicating financial pressure [5][13]. - The company reported a net profit of 133 million yuan for the first three quarters of 2025, a decline of 33.15% year-on-year, and a non-recurring net profit of 94 million yuan, down 51.42% [15]. - The company has experienced significant fluctuations in net profit over the years, with a peak of 1.365 billion yuan in 2021, followed by losses in subsequent years [15]. Group 3: Market Conditions and Industry Outlook - The chemical fiber market currently exhibits a strong supply and weak demand characteristic, putting pressure on the operating performance of industry players [3]. - The industry is facing challenges such as a downward cycle, supply shocks, and weak demand, leading to lower product prices and profit margins [11]. - Xinxiang Chemical Fiber's expansion comes amid a market environment where the overall demand for spandex is slowing, raising questions about the rationale behind the aggressive investment [12][17].

Group 1 - The chemical fiber sector experienced a decline of 1.49% compared to the previous trading day, with Xinxiang Chemical Fiber leading the drop [1] - On the same day, the Shanghai Composite Index closed at 3919.98, up by 0.07%, while the Shenzhen Component Index closed at 13368.99, up by 0.27% [1] Group 2 - In terms of capital flow, the chemical fiber sector saw a net outflow of 344 million yuan from main funds, while retail investors contributed a net inflow of 337 million yuan [2] - Speculative funds recorded a net inflow of 7.01 million yuan into the chemical fiber sector [2]

Group 1 - Xinxiang Chemical Fiber Co., Ltd. experienced a decline of 5.15% on December 23, with a stock price of 5.16 yuan per share, a trading volume of 254 million yuan, a turnover rate of 2.83%, and a total market capitalization of 8.774 billion yuan [1] - The company, established on January 9, 1997, and listed on October 21, 1999, specializes in the production and sales of viscose filament, viscose staple fiber, and spandex. The revenue composition is as follows: spandex fiber 58.51%, biomass cellulose filament 38.34%, and others 3.15% [1] Group 2 - Zhongyou Fund has a significant holding in Xinxiang Chemical Fiber, with the Zhongyou Advanced Manufacturing Mixed Fund A (024261) holding 110,000 shares, accounting for 1.44% of the fund's net value, making it the ninth-largest holding. The estimated floating loss today is approximately 30,800 yuan [2] - The fund manager of Zhongyou Advanced Manufacturing Mixed Fund A is Jin Zhenzhen, who has been in the position for 3 years and 125 days. The total asset size of the fund is 1.904 billion yuan, with the best fund return during the tenure being 62.3% and the worst being -7.36% [3]