Core Viewpoint - The company, Shijiazhuang Shangtai Technology Co., Ltd., announced a share reduction plan by certain directors and senior management, which is compliant with relevant regulations and aimed at meeting personal funding needs [3][4][6]. Group 1: Shareholding Information - Director Qi Zhonghui holds 960,000 shares, representing 0.3696% of the total share capital after excluding repurchased shares [3]. - Supervisor Sun Yuejie holds 800,000 shares, representing 0.3080% of the total share capital after excluding repurchased shares [3]. - Supervisor Zuo Baozeng holds 792,000 shares, representing 0.3049% of the total share capital after excluding repurchased shares [3]. - Senior management Wang Huiguang holds 175,000 shares, representing 0.0674% of the total share capital after excluding repurchased shares [3]. Group 2: Reduction Plan Details - The total number of shares to be reduced is up to 681,750, accounting for no more than 0.2614% of the current total share capital of 260,837,350 shares [6][7]. - The reduction will occur through centralized bidding or block trading within three months after a 15 trading day notice period [7]. - The reason for the reduction is personal funding needs [6]. Group 3: Compliance and Commitments - The reduction plan complies with various laws and regulations, including the Securities Law of the People's Republic of China and the Shenzhen Stock Exchange rules [4][13]. - The involved shareholders have made commitments regarding share lock-up and reduction, ensuring adherence to the company's regulations and legal obligations [8][10]. - The shareholders have committed to not reducing their holdings within six months following the public offering, which is from December 28, 2023, to June 27, 2024 [12].

证券代码：001301 证券简称：尚太科技 公告编号：2025-088 石家庄尚太科技股份有限公司 关于部分董事、监事和高级管理人员减持股份的预披露公 告 部分董事、监事和高级管理人员齐仲辉、孙跃杰、左宝增、王惠广保证 向本公司提供的信息内容真实、准确、完整，没有虚假记载、误导性陈述或 重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一 致。 特别提示： 持有石家庄尚太科技股份有限公司（以下简称"公司"或"本公司"）股份 股份数量后的股份总数比例为 0.3696%）、800,000 股的监事孙跃杰先生（持有 本公司总股本剔除回购专用证券账户中股份数量后的股份总数比例为 中股份数量后的股份总数比例为 0.3049%），持有 175,000 股的高级管理人员王 惠广先生（持有本公司总股本剔除回购专用证券账户中股份数量后的股份总数比 例为 0.0674%）计划自本公告披露之日起 15 个交易日之后的 3 个月内（根据中 国证券监督管理委员会或深圳证券交易所相关规定禁止减持的期间除外）以集中 竞价方式或大宗交易方式减持本公司股份合计不超过 681,750 股（占公司目前总 股本不超过 0.26 ...

格隆汇7月31日丨尚太科技(001301.SZ)公布，持有公司股份960,000股的公司董事齐仲辉先生（持有本公 司总股本剔除回购专用证券账户中股份数量后的股份总数比例为0.3696%）、800,000股的监事孙跃杰先 生（持有本公司总股本剔除回购专用证券账户中股份数量后的股份总数比例为0.3080%）、792,000股的 左宝增先生（持有本公司总股本剔除回购专用证券账户中股份数量后的股份总数比例为0.3049%），持 有175,000股的高级管理人员王惠广先生（持有本公司总股本剔除回购专用证券账户中股份数量后的股 份总数比例为0.0674%）计划自本公告披露之日起15个交易日之后的3个月内（根据中国证券监督管理 委员会或深圳证券交易所相关规定禁止减持的期间除外）以集中竞价方式或大宗交易方式减持本公司股 份合计不超过681,750股（占公司目前总股本不超过0.2614%）。若计划减持期间有派息、送股、资本公 积金转增股本、配股等除权除息事项，减持价格区间和股份数将相应进行调整。 ...

格隆汇7月31日丨尚太科技(001301.SZ)公布，持有公司股份960,000股的公司董事齐仲辉先生（持有本公 司总股本剔除回购专用证券账户中股份数量后的股份总数比例为0.3696%）、800,000股的监事孙跃杰先 生（持有本公司总股本剔除回购专用证券账户中股份数量后的股份总数比例为0.3080%）、792,000股的 左宝增先生（持有本公司总股本剔除回购专用证券账户中股份数量后的股份总数比例为0.3049%），持 有175,000股的高级管理人员王惠广先生（持有本公司总股本剔除回购专用证券账户中股份数量后的股 份总数比例为0.0674%）计划自本公告披露之日起15个交易日之后的3个月内（根据中国证券监督管理 委员会或深圳证券交易所相关规定禁止减持的期间除外）以集中竞价方式或大宗交易方式减持本公司股 份合计不超过681,750股（占公司目前总股本不超过0.2614%）。若计划减持期间有派息、送股、资本公 积金转增股本、配股等除权除息事项，减持价格区间和股份数将相应进行调整。 ...

证券代码：001301 证券简称：尚太科技 公告编号：2025-088 石家庄尚太科技股份有限公司 关于部分董事、监事和高级管理人员减持股份的预披露公 告 部分董事、监事和高级管理人员齐仲辉、孙跃杰、左宝增、王惠广保证 向本公司提供的信息内容真实、准确、完整，没有虚假记载、误导性陈述或 重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一 致。 特别提示： 持有石家庄尚太科技股份有限公司（以下简称"公司"或"本公司"）股份 960,000 股的公司董事齐仲辉先生（持有本公司总股本剔除回购专用证券账户中 股份数量后的股份总数比例为 0.3696%）、800,000 股的监事孙跃杰先生（持有 本公司总股本剔除回购专用证券账户中股份数量后的股份总数比例为 0.3080%）、792,000 股的左宝增先生（持有本公司总股本剔除回购专用证券账户 中股份数量后的股份总数比例为 0.3049%），持有 175,000 股的高级管理人员王 惠广先生（持有本公司总股本剔除回购专用证券账户中股份数量后的股份总数比 例为 0.0674%）计划自本公告披露之日起 15 个交易日之后的 3 个月内（根据中 国证券 ...

Summary of Key Points Core Viewpoint - The announcement from Shangtai Technology (001301) indicates that key executives plan to reduce their holdings in the company, which may impact investor sentiment and stock performance [1] Company Holdings and Reduction Plans - Director Qi Zhonghui holds 960,000 shares, Supervisor Sun Yujie holds 800,000 shares, Supervisor Zuo Baozeng holds 792,000 shares, and Senior Manager Wang Huiguang holds 175,000 shares [1] - The four individuals plan to collectively reduce their holdings by up to 681,700 shares within three months after a 15 trading day period from the date of disclosure, representing 0.2614% of the company's total share capital [1] - Specific reduction plans include Qi Zhonghui reducing 240,000 shares, Sun Yujie 200,000 shares, Zuo Baozeng 198,000 shares, and Wang Huiguang 43,750 shares [1]

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - North - Exchange convertible bonds have certain special features in terms of clause settings and transfer transactions, with relatively low overall issuance scale. In the current policy environment encouraging mergers and acquisitions, private placement convertible bonds may become an important tool for North - Exchange listed companies to introduce strategic investors and be widely used as a payment instrument for M&A. With the slowdown of new supply of public convertible bonds in the Shanghai and Shenzhen Stock Exchanges, continuous attention to North - Exchange related investment opportunities is recommended [2][13]. - Considering the impact of refinancing policies, the subsequent issuance pressure of convertible bonds is expected to be low. As the stock market recovers, the return of incremental funds in convertible bonds drives the valuation to a relatively high historical level, and attention should be paid to the risk of valuation correction. In terms of clauses, continue to focus on the space for lower - revision games, be vigilant against call risks, and appropriately focus on short - term game opportunities of near - maturity convertible bonds. Industries to focus on include popular themes, domestic demand - oriented sectors, central state - owned enterprises under the Chinese characteristic valuation system, and the military industry [16]. 3. Summary According to the Directory 3.1.转债周度专题与展望 3.1.1. 北交所转债怎么看？ - As of July 25, there were 5 convertible bond proposals on the North - Exchange. The current proposals are all private placement convertible bonds with an issuance scale within 150 million yuan. North - Exchange private placement convertible bonds usually do not have a "downward revision clause", suspend transfer 10 trading days before the end of the conversion period, have a clear 18 - month conversion restriction requirement, and a non - call period of at least 6 months [1][10]. - Taking the private placement convertible bonds of Youji Co., Ltd. as an example, it has obvious features in the initial conversion price, conditional call clause, non - downward revision clause, and put period. Other clauses are relatively conventional, with an issuance term of 6 years and a put trigger threshold of 70% [11][13]. 3.1.2. 周度回顾与市场展望 - This week, the three major stock indices fluctuated upward, with active trading and obvious rotation of hot sectors. The A - share market valuation is recovering. Measures such as large - scale equipment renewal and consumer goods replacement are expected to boost domestic demand, while export growth may decline. A weak resonance between the domestic economic fundamentals and the capital market is expected to gradually start [14][15]. - In terms of convertible bonds, considering the impact of refinancing policies, the subsequent issuance pressure is expected to be low. As the stock market recovers, the return of incremental funds drives the valuation to a relatively high historical level, and attention should be paid to the risk of valuation correction. Industries to focus on include popular themes, domestic demand - oriented sectors, central state - owned enterprises under the Chinese characteristic valuation system, and the military industry [16]. 3.2. 转债市场周度跟踪 3.2.1. 权益市场收涨，建材煤炭钢铁领涨 - This week, the major equity market indices rose. The market style was more inclined to small - cap value stocks. Among the 27 Shenwan industry indices, 27 rose and 4 fell. Building materials, coal, and steel industries led the market [19][22]. 3.2.2. 转债市场大涨，百元溢价率中位数抬升 - This week, the convertible bond market rose. The average daily trading volume increased. Most industries in the convertible bond market rose, with coal, building materials, and petroleum and petrochemical industries leading the gains. Only bank convertible bonds fell. Most individual bonds rose. In terms of price, the number of absolute low - price convertible bonds decreased, and the median price increased significantly. The weighted conversion value of the whole market increased, and the premium rate decreased [24][31][36]. 3.2.3. 不同类型转债高频跟踪 3.2.3.1. 分类估值变化 - This week, the valuations of equity - biased and balanced convertible bonds increased significantly, with a higher increase in balanced convertible bonds. The valuations of convertible bonds with a parity of 0 - 80 yuan and above 130 yuan decreased, while those of other parity convertible bonds increased. The valuations of most convertible bonds of each rating decreased, and the valuations of convertible bonds in each scale category decreased [51]. 3.2.3.2. 市场指数表现 - This week, convertible bonds of all ratings rose. Since 2023, high - rating AAA convertible bonds have shown stable performance, while low - rating convertible bonds have shown weaker anti - decline attributes and greater rebound strength. Convertible bonds of all scales rose this week [62][64]. 3.3. 转债供给与条款跟踪 3.3.1. 本周一级预案发行 - Two new convertible bonds were listed this week, and one was issued but not yet listed. The first - day closing prices of Libo Convertible Bonds and Guanghe Convertible Bonds were 129.46 yuan and 129.80 yuan respectively, with reasonable pricing. The scale of the to - be - listed Bo 25 Convertible Bonds is 2.802 billion yuan. There were 9 first - level approvals this week [69]. 3.3.2. 下修&赎回条款 - This week, 9 convertible bonds were expected to trigger downward revision, 9 announced no downward revision, 2 proposed downward revision, and 1 announced the downward - revision result. Thirteen convertible bonds were expected to trigger call, 4 announced no call, and 4 announced early call. As of the end of this week, 3 convertible bonds were still in the put declaration period, and 19 were in the company's capital reduction and settlement declaration period [73][77][79].

Group 1 - The company plans to issue convertible bonds to meet funding needs, expand operations, and enhance competitiveness [2][3][9] - The convertible bonds will be listed on the Shenzhen Stock Exchange and will be offered to unspecified investors, with existing shareholders having priority [3][4][5] - The total amount to be raised through this issuance will not exceed RMB 173,400 million, which will be used for a project to produce 200,000 tons of lithium battery anode materials [11][15][25] Group 2 - The company has demonstrated a sound organizational structure and has met the requirements for issuing convertible bonds under relevant laws [9][24] - The average distributable profit over the last three years is sufficient to cover the interest on the bonds, with figures of RMB 128,945.45 million, RMB 72,290.50 million, and RMB 83,832.71 million [10][24] - The company has a reasonable asset-liability structure and normal cash flow, with debt ratios of 41.41%, 23.64%, and 32.38% [10][11] Group 3 - The company has maintained profitability over the last three years, with net profits of RMB 128,144.33 million, RMB 71,327.50 million, and RMB 80,855.43 million [11][25] - The issuance plan has been carefully considered by the board and is expected to benefit the company and all shareholders [27] - The company has established measures to mitigate the dilution of immediate returns for existing shareholders [28]

Core Viewpoint - The company, Shijiazhuang Shangtai Technology Co., Ltd., is issuing convertible bonds to unspecified investors, which may dilute immediate returns but includes measures to compensate for this dilution [2][7][12]. Financial Impact Analysis - The issuance of convertible bonds is analyzed under two scenarios: full conversion by March 31, 2026, and no conversion by December 31, 2026, to assess the impact on key financial metrics [2][3]. - The company's net profit for 2025 and 2026 is projected under three growth rate scenarios: 0%, 10%, and 20%, with corresponding basic and diluted earnings per share calculated for each scenario [6][9]. Measures to Mitigate Dilution - The company plans to enhance its core business operations to improve market competitiveness and profitability, thereby mitigating the risk of diluted returns [12][13]. - A commitment to efficient use of raised funds is established, ensuring that the funds are allocated to projects that align with industry trends and have strong market potential [12][13]. - The company has developed a dividend policy to ensure shareholder returns, particularly for minority shareholders, and has outlined a three-year dividend plan [13][14]. Project Justification - The funds raised will support the "Annual Production of 200,000 Tons of Lithium Battery Anode Material Integration Project," which is aligned with the company's existing business and technological capabilities [9][10]. - The project is expected to enhance the company's market position and competitive strength, contributing positively to its strategic development [9][10]. Human Resource and Technical Preparedness - The company has a well-prepared team with expertise in both carbon materials and lithium battery technology, ensuring effective project execution [10][11]. - A robust patent portfolio and ongoing technical collaborations with leading battery manufacturers position the company favorably in the market [10][11]. Commitment from Management - The company's board and senior management have made commitments to ensure the effectiveness of measures to compensate for any dilution of returns, emphasizing their responsibility to protect shareholder interests [14][15].

Summary of Key Points Core Viewpoint - The company, Shijiazhuang Shangtai Technology Co., Ltd., has decided to terminate its share repurchase plan ahead of schedule due to sufficient repurchased shares to meet its employee stock ownership plan and/or equity incentive needs [3][4]. Group 1: Share Repurchase Plan - The company initially approved a share repurchase plan on October 13, 2024, allowing for the repurchase of shares using self-owned or raised funds, with a maximum repurchase amount of RMB 100 million [1][2]. - As of the announcement date, the company had repurchased a total of 1,106,100 shares, representing 0.4241% of the total share capital, with a total expenditure within the planned budget [2][5]. Group 2: Reasons for Early Termination - The decision to terminate the share repurchase was made after careful consideration, as the repurchased shares were sufficient for the intended employee stock ownership plan and/or equity incentives [3][4]. - The board of directors approved the termination on July 21, 2025, without needing to submit the decision to the shareholders' meeting [3]. Group 3: Impact of Termination - The early termination of the share repurchase is expected to enhance the company's risk resistance and improve capital utilization efficiency, aligning with the company's long-term interests [4][5]. - The termination does not negatively impact the company's operations, financial status, or shareholder rights [4]. Group 4: Compliance and Future Arrangements - The repurchased shares will be used for equity incentives or employee stock ownership plans, and any unutilized shares within 36 months will be canceled [5]. - The company has complied with relevant regulations regarding the timing and pricing of the share repurchase [5].