[2025 Semi-Annual Performance Forecast](index=1&type=section&id=%E5%B1%B1%E4%B8%9C%E9%B2%81%E9%98%B3%E8%8A%82%E8%83%BD%E6%9D%90%E6%96%99%E8%82%A1%E4%BB%BD%E6%9C%89%E9%99%90%E5%85%AC%E5%8F%B82025%E5%B9%B4%E5%8D%8A%E5%B9%B4%E5%BA%A6%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A) This report outlines Shandong Luyang Energy-Saving Materials Co., Ltd.'s 2025 semi-annual performance forecast, detailing expected profit declines and contributing factors [Performance Forecast Summary](index=1&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A%E6%83%85%E5%86%B5) The company forecasts a significant year-over-year decline in net profit attributable to shareholders for the first half of 2025, with similar drops in other key profitability metrics Performance Forecast Details | Item | Jan 1 - Jun 30, 2025 (Forecast) | Prior Period | Year-over-Year Change | | :--- | :--- | :--- | :--- | | **Net Profit Attributable to Shareholders of Listed Company** | Profit: 79.2172 million yuan — 96.8211 million yuan | Profit: 206.9459 million yuan | Decrease: 53.21% — 61.72% | | **Net Profit After Deducting Non-Recurring Gains and Losses** | Profit: 76.7539 million yuan — 94.3578 million yuan | Profit: 205.6311 million yuan | Decrease: 54.11% — 62.67% | | **Basic Earnings Per Share** | Profit: 0.1511 yuan/share — 0.1847 yuan/share | Profit: 0.4005 yuan/share | - | [Explanation of Performance Change](index=1&type=section&id=%E4%B8%9A%E7%BB%A9%E5%8F%98%E5%8A%A8%E5%8E%9F%E5%9B%A0%E8%AF%B4%E6%98%8E) The company attributes the profit decline to decreased revenue from market competition and project delays, reduced profit margins, and rigid operating costs - The overall decline in the company's profit is primarily due to three factors: * **Revenue**: Operating revenue decreased year-over-year due to market competition and delayed project commencements by some petrochemical clients[4](index=4&type=chunk) * **Profit Margin**: Profit margins declined due to product price pressure and changes in sales structure[4](index=4&type=chunk) * **Costs**: Related operating costs and expenses remained rigid and did not decrease proportionally[4](index=4&type=chunk) [Other Explanations](index=1&type=section&id=%E5%85%B6%E4%BB%96%E8%AF%B4%E6%98%8E) Management clarifies that the forecast data is preliminary and unaudited, with no disagreements found during pre-communication with the auditing firm, advising investor caution - The financial data in this performance forecast is a preliminary estimate by the company's finance department and has not been audited by an accounting firm[3](index=3&type=chunk)[5](index=5&type=chunk) - The company has pre-communicated with the annual report auditing accounting firm regarding the performance forecast, and there are no disagreements[3](index=3&type=chunk) - The company advises investors that specific financial data will be based on the officially disclosed 2025 semi-annual report, urging cautious decision-making and awareness of investment risks[5](index=5&type=chunk)

证券代码：002088 证券简称：鲁阳节能 公告编号：2025-029 山东鲁阳节能材料股份有限公司 关于变更公司经理及法定代表人的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 山东鲁阳节能材料股份有限公司（以下简称"公司"）于2025年7月2日以书面传签 方式召开第十一届董事会第十五次（临时）会议并于2025年7月3日形成会议决议，审议 通过了《关于变更公司经理及法定代表人的议案》。现将相关事项公告如下： 因公司经营管理需要，董事会对部分高级管理人员进行调整，Brian Eldon Walker 先生不再担任公司经理职务。Brian Eldon Walker先生卸任经理职务后将继续担任公司 总裁、董事、董事会战略委员会及薪酬与考核委员会委员职务。 根据《山东鲁阳节能材料股份有限公司章程》之规定，公司经理为公司的法定代表 人，崔子娆女士将同时担任公司法定代表人。崔子娆女士担任公司经理职务后，不再担 任公司副经理职务，将继续担任公司董事会秘书职务。 特此公告。 山东鲁阳节能材料股份有限公司董事会 二〇二五年七月五日 附件：崔子娆女士简历 崔子娆，女，中国 ...

山东鲁阳节能材料股份有限公司 证券代码：002088 证券简称：鲁阳节能 公告编号：2025-028 因公司经营管理需要，董事会对部分高级管理人员进行调整，Brian Eldon Walker 先生不再担任公司经理职务。董事会聘任崔子娆女士为公司经理，任期自本次董事会 审议通过之日起至第十一届董事会任期届满之日止。根据《山东鲁阳节能材料股份有 限公司章程》之规定，公司经理为公司的法定代表人，崔子娆女士将同时担任公司法 定代表人。崔子娆女士担任公司经理职务后，不再担任公司副经理职务，将继续担任 公司董事会秘书职务。 本议案已经公司董事会提名委员会审议通过。 第十一届董事会第十五次（临时）会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 一、董事会会议召开情况 山东鲁阳节能材料股份有限公司（以下简称"公司"）第十一届董事会第十五次 （临时）会议通知于 2025 年 6 月 30 日以电子邮件的方式发送全体董事，本次会议于 2025 年 7 月 2 日以书面传签的方式召开，并于 2025 年 7 月 3 日形成会议决议。会议应 参与表决董事 8 人，实际 ...

Core Viewpoint - The insulation and heat preservation materials industry is a crucial part of the national economy, aligning with the trends of green energy efficiency and low carbon development. The market size is expected to decline in 2024 but shows potential for recovery in 2025 due to industrialization and increased efficiency in construction processes [1][5][22]. Industry Definition and Classification - Insulation materials are defined as materials used to resist heat flow, including both insulation and cooling materials. They are applicable in various sectors such as thermal equipment, pipelines, and buildings [2][3]. Industry Development Status - The market size for new insulation materials in China grew from 752.1 billion yuan in 2016 to 1657.1 billion yuan in 2021, but is projected to decrease to 1270.7 billion yuan in 2024, with a slight recovery to approximately 1289.2 billion yuan in 2025 [6][7]. The urbanization rate in China has increased from 17.9% in 1978 to 67% in 2024, indicating further growth potential for the insulation materials market [5]. Industry Chain - The industry chain includes upstream raw materials such as basalt and polystyrene, midstream manufacturing of insulation materials, and downstream applications in building energy efficiency, industrial pipelines, and emerging sectors like cold chain logistics [9]. Competitive Landscape - The insulation materials industry in China is characterized by numerous small-scale manufacturers, with leading companies having a competitive edge due to their established technology and market presence. Major players include Hunan Wujian Light Chemical Group, Fujian Sait New Materials, and Shandong Luyang Energy-Saving Materials [15][16]. Key Enterprises - Key companies in the insulation materials sector include: - **Fujian Sait New Materials Co., Ltd.**: A leading manufacturer of vacuum insulation materials, with a revenue of 9.15 billion yuan from vacuum insulation boards in 2024 [18]. - **Shandong Luyang Energy-Saving Materials Co., Ltd.**: The largest producer of ceramic fiber products in China, with a production capacity of 590,000 tons annually [20]. Industry Development Trends - The insulation materials industry is expected to evolve towards industrialization, with advancements in technology and a focus on green and intelligent construction materials. The sector is crucial for energy conservation in buildings, with significant progress in related technologies [22].

Core Viewpoint - The company has successfully completed the first unlock period of its 2024 restricted stock incentive plan, allowing for the listing and circulation of a portion of the restricted shares [6][10]. Group 1: Incentive Plan Approval and Implementation - The company held meetings on May 22, 2025, to approve the conditions for the first unlock period of the 2024 restricted stock incentive plan [1]. - The plan underwent necessary approval procedures, including public solicitation of voting rights and feedback from employees [2][3]. Group 2: Unlock Conditions and Performance Assessment - The first unlock period for the restricted shares lasts from May 16, 2024, to May 15, 2025, with a 30% unlock ratio of the total granted shares [6]. - The performance assessment for the unlock conditions includes company-level targets such as achieving an EBITDA of 800 million yuan for 2024, with a completion rate of 100% required for full unlock [7][8]. Group 3: Unlock Share Distribution - A total of 768,600 shares will be unlocked for 72 eligible incentive recipients, with the remaining shares still under restriction [8][10]. - The company will repurchase and cancel 2,315,000 shares from 41 former incentive recipients who no longer qualify due to leaving the company [10]. Group 4: Changes in Share Structure - Following the unlock, the total share capital remains at 513,122,586 shares, with no changes in the proportion of restricted and unrestricted shares [10]. Group 5: Legal and Documentation - The company will maintain legal documentation regarding the first unlock period of the incentive plan [11].

证券代码：002088 证券简称：鲁阳节能 公告编号：2025-027 山东鲁阳节能材料股份有限公司 关于2024年限制性股票激励计划首次授予部分 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 特别提示： 1、本次符合解除限售条件的激励对象为 72 人，可解除限售的限制性股票数量为 768,600 股，占公司目前总股本的 0.1498%。 2、本次解除限售的限制性股票上市流通日为 2025 年 7 月 2 日。 山东鲁阳节能材料股份有限公司（以下简称"公司"）于 2025 年 5 月 22 日召开第十 一届董事会第十四次（临时）会议和第十一届监事会第十二次（临时）会议，审议通过 了《关于 2024 年限制性股票激励计划首次授予部分第一个解除限售期解除限售条件成 就的议案》，公司 2024 年限制性股票激励计划（以下简称"本激励计划"）首次授予部分 第一个解除限售期解除限售条件已经成就。根据《公司 2024 年限制性股票激励计划（草 案）》（以下简称"《激励计划（草案）》"）的规定和公司 2024 年第一次临时股东大会 的授权，公司办理了本激励计划首次授予部分 ...

Core Viewpoint - The company has announced its 2024 annual profit distribution plan, which includes a cash dividend of 8.00 RMB per 10 shares for all shareholders, with specific tax considerations for different types of investors [1][5]. Group 1: Profit Distribution Plan - The profit distribution plan was approved at the 2024 annual shareholders' meeting held on May 19, 2025, and the announcement was published on May 20, 2025 [1][3]. - The total share capital of the company is 513,122,586 shares, and the cash dividend will be distributed based on this figure [5]. - The cash dividend will be 8.00 RMB per 10 shares (before tax), with different tax treatments for various categories of shareholders [5]. Group 2: Dividend Payment Dates - The record date for the dividend distribution is set for June 12, 2025, and the ex-dividend date is June 13, 2025 [5][6]. Group 3: Dividend Distribution Method - The cash dividends will be directly credited to the accounts of shareholders through their securities companies on the ex-dividend date [7]. - The company assumes all legal responsibilities if there are insufficient funds for dividend distribution due to a decrease in shareholders' account shares during the application period [8]. Group 4: Adjustments Related to Stock Incentive Plan - Following the completion of the profit distribution, the repurchase price for the restricted stock incentive plan will be adjusted to 5.56 RMB per share [9].

Core Viewpoint - The company has approved a profit distribution plan for the fiscal year 2024, which includes a cash dividend of 8.00 RMB per 10 shares for all shareholders, with specific tax considerations for different types of investors [1][2]. Profit Distribution Plan - The profit distribution plan was approved at the annual shareholders' meeting held on May 19, 2025, with a total share capital of 513,122,586 shares as the basis for the distribution [1]. - The cash dividend of 8.00 RMB per 10 shares is inclusive of tax, with different tax treatments for various investor categories [1][2]. - For Hong Kong market investors and certain foreign institutions, the cash dividend will be 7.20 RMB per 10 shares after tax [1]. Dividend Payment Dates - The record date for the dividend distribution is set for June 12, 2025, and the ex-dividend date is June 13, 2025 [2]. Dividend Recipients - The recipients of the dividend will be all shareholders registered with the China Securities Depository and Clearing Corporation Limited, Shenzhen Branch, as of the close of trading on June 12, 2025 [2]. Dividend Distribution Method - The cash dividends will be directly credited to the shareholders' accounts through their securities companies or other custodial institutions [2]. Adjustment of Related Parameters - Following the completion of the profit distribution, the repurchase price for the restricted stock incentive plan will be adjusted to 5.56 RMB per share [3].

一、股东大会审议通过利润分配方案情况 1、山东鲁阳节能材料股份有限公司（以下简称"公司"）2024 年年度权益分派方 案已获 2025 年 5 月 19 日召开的 2024 年年度股东大会审议通过，股东大会决议公告于 2025 年 5 月 20 日刊登在《证券时报》《中国证券报》《上海证券报》和巨潮资讯网 （http://www.cninfo.com.cn）。公司 2024 年度利润分配方案为：以公司实施 2024 年度 权益分派方案时股权登记日的总股本为基数，向全体股东每 10 股派发现金红利 8.00 元（含税），不送红股，不以公积金转增股本。本次权益分派实施前，如公司总股本因 新增股份上市、股权激励行权、股份回购等发生变化的，公司将按照分配比例不变的原 则，以公司未来实施利润分配方案时股权登记日的可参与利润分配的股本为基数进行 利润分配，对利润分配总额进行相应调整。 2、自分配方案披露至实施期间，公司股本总额未发生变化。 3、本次实施的分配方案与公司 2024 年年度股东大会审议通过的分配方案及其调 整原则一致。 4、本次实施分配方案距离公司 2024 年年度股东大会审议通过的时间未超过两个 月。 二、 ...

Core Viewpoint - The legal opinion letter confirms that Shandong Luyang Energy Saving Materials Co., Ltd. has fulfilled the necessary approvals and authorizations for the first unlock period of its 2024 restricted stock incentive plan, allowing 768,600 shares to be released from restrictions for 72 eligible participants [2][10][11]. Group 1: Legal Framework and Compliance - The legal opinion is based on the review of relevant laws, regulations, and the company's articles of association, ensuring compliance with the Company Law, Securities Law, and the Management Measures for Equity Incentives [2][3]. - The law firm emphasizes that it only provides legal opinions on domestic legal issues and does not cover accounting, auditing, or asset evaluation matters [3][4]. Group 2: Unlock Conditions and Approval - The board of directors and the supervisory board have approved the proposal for the first unlock period of the restricted stock incentive plan, confirming that the conditions for unlocking have been met [4][5]. - The first unlock period for the restricted stock is defined as starting from the first trading day after 12 months from the completion of the grant registration until the last trading day within 24 months from the grant registration [6][10]. Group 3: Performance Assessment and Unlocking - The performance assessment for the unlock conditions includes achieving specific EBITDA and revenue targets for the years 2024 to 2026, with the 2024 EBITDA target set at 800 million yuan and the revenue target at 3.954 billion yuan [8][10]. - The unlocking ratio is contingent upon the performance evaluation results, with a maximum of 30% of the total granted restricted stock eligible for unlocking [6][10]. Group 4: Eligible Participants and Stock Details - A total of 72 participants are eligible for the unlocking of 768,600 shares, which represents 0.15% of the company's total share capital [10][11]. - The company has confirmed that the unlocking arrangements for the eligible participants do not harm the interests of the company or its shareholders [5][10].