Core Viewpoint - The company has decided to exercise its right for early redemption of the "Chuangjiang Convertible Bonds" due to favorable market conditions and the company's current situation, with a redemption date set for August 14, 2025 [2][10]. Group 1: Convertible Bond Overview - The company issued 18.30 billion yuan worth of convertible bonds on June 4, 2020, with a maturity of six years [2]. - The initial conversion price was set at 8.73 yuan per share, which has been adjusted multiple times, with the latest adjustment bringing it down to 6.10 yuan per share [3][6]. Group 2: Redemption Conditions - The early redemption was triggered as the company's stock price closed at or above 130% of the conversion price (7.93 yuan) for 15 trading days within a 30-day period [7]. - The redemption price is set at 100.389 yuan per bond, which includes accrued interest [8][9]. Group 3: Redemption Process - The bonds will stop trading on August 11, 2025, with the redemption registration date on August 13, 2025 [10]. - The redemption will be executed through the bond custodial brokers, and the funds will be directly transferred to the bondholders' accounts [10]. Group 4: Shareholder Transactions - There have been no transactions of the "Chuangjiang Convertible Bonds" by major shareholders or executives in the six months leading up to the redemption conditions being met [10]. Group 5: Conversion Procedures - Bondholders must apply for conversion through the securities company that holds their bonds, with a minimum conversion unit of one bond [11]. - Any fractional bonds that cannot be converted into whole shares will be paid in cash along with accrued interest [11].

| 证券代码：002171 | 证券简称：楚江新材 | 公告编号：2025-071 | | --- | --- | --- | | 债券代码：128109 | 债券简称：楚江转债 | | 安徽楚江科技新材料股份有限公司 关于提前赎回"楚江转债"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。 特别提示： 1、"楚江转债"赎回价格：100.389 元/张（含当期应计利息，当 期年利率为 2.00%，且当期利息含税），扣税后的赎回价格以中国证券 登记结算有限责任公司深圳分公司（以下简称"中登公司"）核准的价 格为准。 2、赎回条件满足日：2025 年 7 月 22 日 3、停止交易日：2025 年 8 月 11 日 4、赎回登记日：2025 年 8 月 13 日 5、赎回日：2025 年 8 月 14 日 6、停止转股日：2025 年 8 月 14 日 7、赎回资金到账日（到达中登公司账户）：2025 年 8 月 19 日 8、投资者赎回款到账日：2025 年 8 月 21 日 9、赎回类别：全部赎回 10：最后一个交易日可转债简称：Z 江转债 11、根据安 ...

法律意见书 安徽天禾律师事务所 关于安徽楚江科技新材料股份有限公司 可转换公司债券提前赎回 的法律意见书 安徽天禾律师事务所 ANHUI TIANHE LAW OFFICE 地址：合肥市濉溪路278号财富广场B座东楼16层 电话：（0551）62642792 传真：（0551）62620450 法律意见书 安徽天禾律师事务所 关于安徽楚江科技新材料股份有限公司 可转换公司债券提前赎回 的法律意见书 天律意2025第[01823]号 致：安徽楚江科技新材料股份有限公司 安徽天禾律师事务所（以下简称"本所"）接受安徽楚江科技新材料股份有限 公司（以下简称"楚江新材"或"公司"）委托，依据《中华人民共和国公司法》 （ 以下简称"公司法"）、《中华人民共和国证券法》（以下简称"证券法"）、 《可转换公司债券管理办法》（以下简称"管理办法"）、《深圳证券交易所上市 公司自律监管指引第15号——可转换公司债券》（以下简称"监管指引"）等法律、 行政法规、规范性文件以及《安徽楚江科技新材料股份有限公司公开发行A股可转 换公司债券募集说明书》（以下简称"募集说明书"）的规定，就公司2020年发行 的可转换公司债券（以下简称" ...

华泰联合证券有限责任公司 关于安徽楚江科技新材料股份有限公司 提前赎回"楚江转债"的核查意见 华泰联合证券有限责任公司（以下简称"华泰联合证券"或"本保荐机构"） 作为安徽楚江科技新材料股份有限公司（以下简称"楚江新材"或"公司"）2019 年度公开发行可转换公司债券的保荐机构，根据《证券发行上市保荐业务管理办 法》《深圳证券交易所股票上市规则》《可转换公司债券管理办法》《深圳证券 交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》等法律、法 规和规范性文件的规定，对楚江新材提前赎回"楚江转债"的事项进行了核查， 具体核查情况如下： （一）"楚江转债"的基本情况 1、可转债发行情况 一、可转债发行上市概况 经中国证券监督管理委员会"证监许可[2020]353 号"文核准，公司于 2020 年 6 月 4 日公开发行了 1,830 万张可转换公司债券，每张面值 100 元，发行总额 18.30 亿元，期限六年。 2、可转债上市情况 经深圳证券交易所"深证上[2020]532 号"文同意，公司可转换公司债券于 2020 年 6 月 23 日在深圳证券交易所挂牌交易，债券简称"楚江转债"，债券代 码"1 ...

| 证券代码：002171 | 证券简称：楚江新材 | 公告编号：2025-070 | | --- | --- | --- | | 债券代码：128109 | 债券简称：楚江转债 | | 安徽楚江科技新材料股份有限公司 第七届董事会第二次会议决议公告 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、董事会会议召开情况 安徽楚江科技新材料股份有限公司（以下简称"公司"）第七届 董事会第二次会议通知于2025年7月15日以书面、传真或电子邮件等形 式发出，会议于2025年7月22日以通讯表决的方式召开。本次会议由董 事长姜纯先生主持，会议应出席董事7人，实际出席董事7人，公司部 分高级管理人员列席了会议。本次会议的召集、召开及表决程序符合 《中华人民共和国公司法》和《公司章程》等有关规定。 二、董事会会议审议情况 经与会董事认真审议，经投票表决，会议形成如下决议： （一）审议通过了《关于提前赎回"楚江转债"的议案》 表决结果：同意 7 票、弃权 0 票、反对 0 票。 自2025年7月2日至2025年7月22日，公司股票价格已有15个交易日 的收盘价不低于"楚 ...

安徽楚江科技新材料股份有限公司 关于为子公司向银行申请授信额度提供担保的进展公告 | | | 一、担保情况概述 安徽楚江科技新材料股份有限公司（以下简称"公司"或"楚江 新材"）分别于 2025 年 3 月 15 日和 2025 年 4 月 11 日召开的第六届 董事会第三十二次会议和 2024 年年度股东大会，审议通过了《关于为 子公司及孙公司申请银行授信额度提供担保的议案》，同意公司为子 公司及孙公司向商业银行申请授信额度提供合计不超过 1,080,000.00 万元连带责任担保。其中： 1、公司为本次被担保方全资子公司安徽楚江特钢有限公司（以下 简称"楚江特钢"）向商业银行申请授信额度提供合计不超过 17,000 万元连带责任担保。 2、公司为本次被担保方全资子公司芜湖楚江合金铜材有限公司 （以下简称"楚江合金"）向商业银行申请授信额度提供合计不超过 85,000 万元连带责任担保。 上述担保情况的具体内容详见公司于 2025 年 3 月 18 日和 2025 年 4 月 12 日披露的《关于为子公司及孙公司申请银行授信额度提供担保 的公告》（公告编号：2025－021）和其他相关公告。 二、担保进展情 ...

Investment Rating - The report maintains a "Positive" outlook on the defense and military industry [5] Core Insights - The military trade market is expected to accelerate and improve efficiency, with a continued positive outlook on the military trade sector [10][12] - Geopolitical instability is likely to lead to sustained global demand for military trade, presenting significant development opportunities for China's military trade [14][15] - The current market position suggests a continued positive outlook on the military industry, with military trade expected to become a second growth driver [16] Summary by Sections Military Trade Sector - A high-level meeting between AVIC and Shaanxi Aircraft Industry Group highlighted the importance of military trade, focusing on high-quality development and addressing international market needs [9][12][13] - The European defense sector is undergoing upgrades, with countries increasing defense budgets, which may create supply gaps and opportunities for China's military exports [14][15] Performance and Market Trends - The defense and military industry index increased by 2.26%, outperforming the Shanghai Composite Index [18][19] - The report notes that most military companies have shown rapid growth in their half-year performance for 2025, with significant increases in net profits for several companies [30][32] Investment Recommendations - Suggested investment targets include: - Military Electronics: Zhenhua Technology (000733, Buy), Aerospace Electronics (002025, Buy) [17] - Key Materials and Parts: Western Superconductor (688122, Buy), Chujian New Materials (002171, Buy) [17] - Engine Supply Chain: Aero Engine Corporation of China (600893, Not Rated), Western Superconductor (688122, Buy) [17] - Military Trade: AVIC Shenyang Aircraft Corporation (600760, Not Rated), Guorui Technology (600562, Not Rated) [17]

Industry Overview - Copper strip is a key material in modern industry, known for its excellent electrical and thermal conductivity, processing performance, and corrosion resistance, widely used in new energy and electronic electrical fields [1][4] - The industry is experiencing a "quantity and quality rise" trend, with total production capacity expected to reach 4.179 million tons and output exceeding 3 million tons by 2024, while the proportion of high-end products is projected to increase to 35% [1][10] - The new energy vehicle sector has become a core growth driver, with production and sales in the first five months of 2025 increasing by over 44% year-on-year, significantly boosting demand for high-conductivity copper strips [1][22] Import and Export Dynamics - The import and export landscape is characterized by accelerated import substitution and steady export growth, with exports expected to increase by 20.61% year-on-year in 2024 [1][12] - In 2024, the total import volume of copper strips is projected to be approximately 88,800 tons, a year-on-year increase of 14.28%, while exports are expected to reach 124,200 tons [12][14] - The import structure is shifting towards high-value-added products, while exports are primarily focused on general-purpose products, indicating a trend towards higher technical content and added value in trade [14][21] Competitive Landscape - The competitive landscape of the copper strip industry is evolving into a gradient structure, with leading companies like Jiangxi Copper and Tongling Nonferrous Metals dominating over 60% of the high-end market through technological innovation and cost reduction [16][18] - Medium-sized enterprises are focusing on niche markets, while smaller firms are facing pressure due to environmental standards and market saturation, leading to accelerated exits from the market [16][18] - The industry is expected to consolidate further, with a focus on technological leadership and high-end production capabilities [18][21] Future Trends - The copper strip industry is witnessing three core trends: high-end breakthrough, structural differentiation, and green transformation, driven by technological advancements and market demands [21][22] - The demand for copper strips in the new energy vehicle sector is expected to exceed 2 million tons by 2025, accounting for over 40% of global copper consumption growth [22][23] - Companies are increasingly investing in green technologies and innovations to enhance competitiveness, with significant potential for import substitution in high-end markets [23]

Core Viewpoint - The company, Anhui Chuangjiang Technology New Materials Co., Ltd., has approved a change in registered capital and amendments to its articles of association during its board meeting and subsequent shareholder meeting [1]. Group 1: Company Changes - The registered capital has been reduced from 1,508,548,229 yuan to 1,324,246,265 yuan [1]. - Other business registration items in the company's business license have not changed apart from the registered capital [1]. Group 2: Business Operations - The company is involved in various sectors including the research, production, and sales of thermal equipment, carbon composite materials, powder metallurgy materials, lithium battery anode materials, and 3D printing materials [1]. - The company also engages in technology consulting, research and development, and import-export activities related to its business [1].

2025 年 7 月 16 日，公司完成了上述事项的工商变更登记及《公司 章程》备案手续，并领取了芜湖市市场监督管理局换发的《营业执照》， 工商变更相关情况如下： | 变更事项 | 原登记内容 | 变更后登记内容 | | --- | --- | --- | | 注册资本 | 1,324,246,265 元 | 1,508,548,229 元 | 除上述变更外，公司《营业执照》中其他工商登记事项未发生变 化。变更登记后的相关信息如下： 1、统一社会信用代码：91340200743082289Q 2、名称：安徽楚江科技新材料股份有限公司 | 证券代码：002171 | 证券简称：楚江新材 | 公告编号：2025－068 | | --- | --- | --- | | 债券代码：128109 | 债券简称：楚江转债 | | 安徽楚江科技新材料股份有限公司 关于公司完成工商变更登记的公告 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。 安徽楚江科技新材料股份有限公司（以下简称"公司"）于 2025 年 6 月 6 日召开第六届董事会第三十七次会议和 2025 年 6 ...