中材科技股份有限公司 (住所:江苏省南京市江宁科学园彤天路 99号) 2025 年面向专业投资者公开发行科技创新 公司债券(第二期) 发行公告 牵头主承销商/簿记管理人/债券受托管理人 IID 中信建投证券股份有限公司 CHINA SECURITIES CO.,LTD. (住所:北京市朝阳区安立路 66号4号楼) 联席主承销商 中信证券股份有限公司 (住所: 广东省深圳市福田区中心三路 8号卓越时代广场(二期)北座) 中国国际金融股份有限公司 (住所:北京市朝阳区建国门外大街 1 号国贸大厦 2 座 27 层及 28 层) 华泰联合证券有限责任公司 (住所:深圳市前海深港合作区南山街道桂湾五路 128 号前海深港基金小镇 B7 栋 401) 签署日期:2025年 11月 24 日 发行人及董事会全体成员保证公告内容的真实、准确和完整，对公告的虚 假记载、误导性陈述或者重大遗漏负连带责任。 重要提示 1、中材科技股份有限公司（以下简称"发行人"或"公司"）面向专业机构投 资者公开发行（不超过）人民币 30 亿元（含 30 亿元）的公司债券（以下简称"本 次债券"）已于 2025 年 7 月 25 日获得中国证券 ...

发行人将及时、公平地履行信息披露义务。 发行人及其全体董事、高级管理人员或履行同等职责的人员保证募集说明书 信息披露的真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏。 主承销商已对募集说明书进行了核查，确认不存在虚假记载、误导性陈述和 重大遗漏，并对其真实性、准确性和完整性承担相应的法律责任。 发行人承诺在本期债券发行环节，不直接或者间接认购自己发行的债券。债 券发行的利率或者价格应当以询价、协议定价等方式确定，发行人不会操纵发行 定价、暗箱操作，不以代持、信托等方式谋取不正当利益或向其他相关利益主体 输送利益，不直接或通过其他利益相关方向参与认购的投资者提供财务资助、变 相返费，不出于利益交换的目的通过关联金融机构相互持有彼此发行的债券，不 实施其他违反公平竞争、破坏市场秩序等行为。 发行人如有董事、高级管理人员、持股比例超过 5%的股东及其他关联方参 与本期债券认购，发行人将在发行结果公告中就相关认购情况进行披露。 中国证券监督管理委员会、深圳证券交易所对债券发行的注册或审核，不代 表对债券的投资价值作出任何评价，也不表明对债券的投资风险作出任何判断。 凡欲认购本期债券的投资者，应当认真阅读本募集 ...

2025 年度 中材科技股份有限公司 信用评级报告 编号：CCXI-20251615M-01 2025 年度中材科技股份有限公司 信用评级报告 声 明 跟踪评级安排 根据相关监管规定以及评级委托协议约定，中诚信国际将在评级结果有效期内进行跟踪评级。 中诚信国际信用评级有限责任公司 2025 年 6 月 9 日 2 本次评级为委托评级，中诚信国际及其评估人员与评级委托方、评级对象不存在任何其他影响本次评级行为独立、 客观、公正的关联关系。 本次评级依据评级对象提供或已经正式对外公布的信息，以及其他根据监管规定收集的信息，中诚信国际按照相关 性、及时性、可靠性的原则对评级信息进行审慎分析，但中诚信国际对于相关信息的合法性、真实性、完整性、准 确性不作任何保证。 中诚信国际及项目人员履行了尽职调查和诚信义务，有充分理由保证本次评级遵循了真实、客观、公正的原则。 评级报告的评级结论是中诚信国际依据合理的内部信用评级标准和方法、评级程序做出的独立判断，未受评级委托 方、评级对象和其他第三方的干预和影响。 本评级报告对评级对象信用状况的任何表述和判断仅作为相关决策参考之用，并不意味着中诚信国际实质性建议任 何使用人据此报 ...

中材科技股份有限公司 2025 年面向专业投资者 公开发行科技创新公司债券（第二期）更名公告 中材科技股份有限公司（以下简称"发行人"）发行不超过人民币 30 亿元 （含 30 亿元）公司债券已获得中国证券监督管理委员会证监许可〔2025〕1568 号注册。中材科技股份有限公司 2025 年面向专业投资者公开发行科技创新公司 债券（第二期）（以下简称"本期债券"）发行规模为不超过 7 亿元（含 7 亿 元）。 按照公司债券命名惯例，本期债券名称由原申请的"中材科技股份有限公司 2025 年面向专业投资者公开发行公司债券"变更为"中材科技股份有限公司 2025 年面向专业投资者公开发行科技创新公司债券（第二期）"。 本次债券名称变更不改变原签订的与本次债券相关文件的法律效力，本次债 券原签署的相关法律文件对更名后的公司债券继续具有法律效力。前述法律文件 包括但不限于法律意见书等。 特此公告。 日 (本页无正文,为《中材科技股份有限公司 2025年面向专业投资者公开发行科 技创新公司债券(第二期)更名公告》之盖章页) 百 月 24 日 rs 1 (本页无正文,为《中材科技股份有限公司 2025 年面向专业投资者公 ...

Core Viewpoint - The companies are currently in discussions with clients regarding potential price increases due to industry supply and demand dynamics, but specific price adjustments have not yet been determined [1] Company Responses - Xingyuan Material has stated that it is communicating with clients about price increases influenced by supply and demand, but the exact increase has not been finalized [1] - Zhongcai Technology also indicated uncertainty regarding price changes at this time [1]

Investment Rating - The industry investment rating is "Positive" and maintained [10] Core Views - Focus on the expectation of glass cold repairs and emphasize high-quality leading companies in consumer building materials [5][6] - Cement prices continue to decline, while glass inventory has slightly decreased month-on-month [7][8] - The real estate policy outlook is improving, suggesting a focus on high-quality leading companies in consumer building materials [5][6] Summary by Sections Cement - National cement prices have continued to decline, with a current average price of 355.00 yuan/ton, down 0.65 yuan/ton month-on-month and down 77.10 yuan/ton year-on-year [26] - The cement market is entering the off-season, with a national shipment rate of approximately 45%, down 0.3 percentage points month-on-month and down 2.5 percentage points year-on-year [7][26] - The northern market is experiencing a seasonal decline in demand, while some southern regions show slight recovery [7][25] Glass - The domestic float glass market prices have stabilized after a decline, with a current average price of 60.59 yuan/weight box, down 0.59 yuan/weight box month-on-month and down 15.51 yuan/weight box year-on-year [39] - The production capacity of float glass has slightly decreased, with 218 out of 283 production lines currently in operation, and a daily melting capacity of 156,155 tons [8][36] - Inventory levels in key monitored provinces have decreased, with a total inventory of 59.32 million weight boxes, down 730,000 weight boxes month-on-month [38][39] Consumer Building Materials - High-quality leading companies in consumer building materials are expected to have bottom value, with recommendations for companies like SanKeTree, TuBaoBao, and WeiXing New Materials [6] - From a cyclical bottom and structural optimization perspective, companies in waterproofing and coatings are recommended due to significant supply exits and increased market share for leading companies [6] - If market conditions improve, the expected price performance ranking is waterproofing > coatings > pipes/hardware/gypsum board [6] Special Fabrics - Attention is drawn to the opportunities in AI special fabrics after recent adjustments, with domestic leaders like ZhongCai Technology benefiting from domestic substitution trends [9]

证券之星消息，12月2日玻璃玻纤板块较上一交易日上涨0.34%，中材科技领涨。当日上证指数报收于 3897.71，下跌0.42%。深证成指报收于13056.7，下跌0.68%。玻璃玻纤板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002080 | 中材科技 | 33.00 | 2.58% | 46.28万 | 15.43 Z | | 000012 | 南 坡A | 4.77 | 0.85% | 14.35万 | 6812.16万 | | 603601 | 再升科技 | 5.25 | 0.38% | 51.20万 | 2.67亿 | | 002613 | 北玻股份 | 3.87 | 0.26% | 9.63万 | 3707.73万 | | 600586 | 金晶科技 | 5.73 | 0.00% | 33.26万 | 1.88亿 | | 601636 | 旗滨集团 | 6.21 | 0.00% | 41.52万 | 2.56亿 | | 6180009 | 耀皮玻璃 | 8. ...

Group 1 - The core viewpoint of the news is that Zhongcai Technology has seen a significant stock price increase of 5.56%, reaching 33.96 CNY per share, with a total market capitalization of 56.99 billion CNY [1] - Zhongcai Technology, established on December 28, 2001, and listed on November 20, 2006, focuses on three main industries: wind turbine blades, fiberglass and products, and lithium battery separators [1] - The revenue composition of Zhongcai Technology includes wind turbine blades (39.01%), fiberglass and products (28.05%), lithium battery separators (6.96%), and other segments [1] Group 2 - From the perspective of fund holdings, one fund under Galaxy Fund has Zhongcai Technology as a significant investment, with the Galaxy New Materials Stock Initiation A fund holding 26,700 shares, representing 5.42% of the fund's net value [2] - The Galaxy New Materials Stock Initiation A fund has achieved a year-to-date return of 42.78% and a one-year return of 36.53%, ranking 757 out of 4206 and 925 out of 4012 respectively [2]

Group 1 - The core viewpoint highlights the increasing pressure in the construction materials industry, with a focus on the expected rise in real estate policies and the potential for quality leading companies in consumer building materials to gain value [2][3] - The industry is experiencing a significant downward trend, with expectations for policy tools aimed at reducing housing burdens, such as interest subsidies or tax deductions, to support housing demand [2][3] - Key companies recommended for investment include Sanhe Tree, Rabbit Baby, and Weixing New Materials, which are seen as having bottom value and potential to benefit from policy changes [2][3] Group 2 - Cement prices have slightly decreased, with demand in southern regions recovering while northern regions face weakened demand due to cold weather [3] - The national cement enterprise shipment rate is approximately 45.5%, reflecting a month-on-month decline of about 0.4 percentage points [3] - In the glass market, prices are trending downward, with an increase in inventory levels, indicating ongoing pressure on production and sales [4] Group 3 - The focus on African supply chains includes recommendations for Huaxin Cement and Keda Manufacturing, which are expected to benefit from overseas performance and domestic market recovery [5] - The stock chain is highlighted for its potential recovery, with leading companies in consumer building materials expected to see demand restoration and structural optimization [5] - Special electronic fabrics are noted for their growth potential due to high demand and supply barriers, with companies like Zhongcai Technology positioned to benefit from domestic substitution [5][6]

Investment Rating - The report maintains a positive outlook on the AI new materials sector, particularly focusing on domestic leaders such as Zhongcai Technology and Tongguan Copper Foil, which are expected to maintain a technological edge and product reserves [1][11]. Core Insights - The demand for AI new materials is increasing, with a notable distinction between the Google chain and NV chain, leading to differences in quantity, suppliers, and generational products. Cost-effectiveness is prioritized, especially in materials like fiberglass cloth and copper foil [1][11]. - The report highlights the potential for domestic substitution in the market, particularly in response to statements from Mitsui Mining and Manufacturing, indicating a shift in production dynamics among Japanese material companies [1][11]. - The report emphasizes the importance of balancing profitability, capacity, and customer relationships in the context of limited domestic supply capabilities, suggesting that domestic players are currently in a follower position rather than a leading one [1][11]. Summary by Sections Weekly Discussion - The focus this week is on the Google chain, Mitsui's statements, and the motivation for Japanese material companies to shift production. The domestic leaders in materials are expected to maintain their technological advantages [1][11]. Cyclical Linkage - Cement prices averaged 350 RMB/t, down 78 RMB/t year-on-year, with an average shipment rate of 45.4%. Glass prices decreased to 1147.84 RMB/ton, a drop of 20.53 RMB/ton, with inventory days at 30.42 days [3][13]. - The report notes a slight increase in the price of fiberglass, with the average price for 2400tex alkali-free yarn at 3535.25 RMB/ton, reflecting a 0.1% increase [3][61]. Market Performance - The construction materials index decreased by 1.18%, with specific declines in glass manufacturing and fiberglass sectors. The report indicates a need for cautious observation of the cement market due to low demand [16][12]. Price Changes in Construction Materials - Cement prices continued to decline by 0.2%, with regional variations noted. The report indicates a high inventory level in the cement market, with a capacity ratio of 68.13% [29][30]. - The floating glass market is stabilizing, with an average price of 1147.84 RMB/ton, although high inventory levels continue to exert downward pressure on prices [3][42].