| 证券简称：濮耐股份 公告编号：2025-064 | 证券代码：002225 | | --- | --- | | 债券代码：127035 债券简称：濮耐转债 | | 暨即将停止交易的重要提示性公告 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 性陈述或重大遗漏。 重要内容提示： 1、最后交易日：2025 年 8 月 15 日 2025 年 8 月 15 日是"濮耐转债"最后一个交易日，当日"濮耐转债"简称为"Z 耐转 债"；2025 年 8 月 15 日收市后"濮耐转债"将停止交易。 2、最后转股日：2025 年 8 月 20 日 2025 年 8 月 20 日是"濮耐转债"最后一个转股日，当日收市前，持有"濮耐转债"的 投资者仍可进行转股；2025 年 8 月 20 日收市后，未转股的"濮耐转债"将停止转股。 3、截至 2025 年 8 月 14 日收市后，距离"濮耐转债"停止交易仅剩 1 个交易日，距离 "濮耐转债"停止转股并赎回仅剩 4 个交易日。本公司特提醒投资者仔细阅读本公告内容， 关注相关风险，谨慎交易"濮耐转债"。 特别提示： 濮阳濮耐高温材料（集团）股份有限公 ...

Core Viewpoint - Puyang Pina High-Temperature Materials (Group) Co., Ltd. has announced the early redemption of its convertible bonds, "Pina Convertible Bonds," with specific trading and conversion deadlines set for August 2025 [1][2][3]. Summary by Sections Important Dates - The last trading day for "Pina Convertible Bonds" is August 15, 2025, after which trading will cease [1]. - The last conversion day is August 20, 2025, with conversion ceasing after market close on that date [2]. Redemption Details - The redemption price is set at 100.906 CNY per bond, including accrued interest at an annual rate of 3.80% [3]. - The redemption conditions were met on July 28, 2025, allowing the company to exercise its right for early redemption [4][11]. - The bonds will be fully redeemed on August 21, 2025, and will be delisted from the Shenzhen Stock Exchange thereafter [4][15]. Convertible Bond Issuance - The company issued 6,263,903 convertible bonds on May 26, 2021, with a total value of 626.39 million CNY [5]. - The initial conversion price was set at 4.43 CNY per share, which has been adjusted multiple times due to equity distributions [6][7]. Conversion Price Adjustments - The conversion price has been adjusted from 4.43 CNY to 4.20 CNY per share as of July 11, 2025, due to annual equity distributions [6][7]. Redemption Procedures - The company will announce redemption details daily leading up to the redemption date [15]. - The funds from the redemption will be credited to bondholders' accounts by August 28, 2025 [15]. Corporate Governance - The board of directors approved the early redemption on July 28, 2025, following necessary decision-making procedures [17][19].

Core Viewpoint - The company, Puyang Puna High Temperature Materials (Group) Co., Ltd., has announced the early redemption of its convertible bonds, "Puna Convertible Bonds," which will cease trading after August 15, 2025, and will stop conversion after August 20, 2025 [1][2]. Group 1: Redemption Details - The redemption price for "Puna Convertible Bonds" is set at 100.906 CNY per bond, including accrued interest at an annual rate of 3.80% [1][6]. - The company’s board of directors approved the early redemption on July 28, 2025, based on current market conditions and the company's situation [2][6]. - The bonds were originally issued on May 26, 2021, with a total issuance amount of 62,639.03 million CNY, consisting of 6,263,903 bonds with a face value of 100 CNY each [2][3]. Group 2: Trading and Conversion Information - "Puna Convertible Bonds" will stop trading on August 18, 2025, and the redemption registration date is set for August 20, 2025 [8][9]. - The bonds will be fully redeemed on August 21, 2025, and the funds will be credited to bondholders' accounts by August 28, 2025 [9]. - The conversion price for the bonds has been adjusted multiple times, with the latest adjustment setting it at 4.20 CNY per share effective from July 11, 2025 [4][6]. Group 3: Conditions for Redemption - The company can redeem the bonds if the stock price has been at least 130% of the conversion price for 15 out of the last 30 trading days or if the remaining unconverted bonds are less than 30 million CNY [6][7]. - The stock price thresholds for the redemption were calculated based on the adjusted conversion prices during the relevant periods [7]. Group 4: Shareholder Information - The controlling shareholders and board members have not traded "Puna Convertible Bonds" in the six months prior to the redemption conditions being met [9][10]. - The company will ensure compliance with legal regulations if any of these stakeholders plan to reduce their holdings in the future [10]. Group 5: Additional Information - Bondholders must process conversion requests through their respective securities companies, and the minimum conversion unit is one share [10]. - The company will publish redemption announcements daily leading up to the redemption date [8].

证券代码：002225 证券简称：濮耐股份 公告编号：2025-063 债券代码：127035 债券简称：濮耐转债 濮阳濮耐高温材料（集团）股份有限公司 关于控股股东、实际控制人因可转债转股 导致持股比例被动稀释触及 1%整数倍的公告 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 性陈述或重大遗漏。 本次权益变动系濮阳濮耐高温材料（集团）股份有限公司（以下简称"公司"） 可转债转股，导致控股股东、实际控制人刘百宽家族的持股比例被动稀释触及 人未发生变化。具体情况如下： 一、公司控股股东、实际控制人刘百宽家族持股比例被动稀释触及 1%整数 倍的情况 信息披露义务人 刘百宽家族（共 8 人） 住所 河南省濮阳县西环路中段 权益变动时间 2025 年 8 月 8 日至 2025 年 8 月 12 日 持股比例被动稀释降至22.11%，导致其持股比例被动稀释触及1%整 数倍。详见2025年8月13日披露的《关于控股股东、实际控制人和持 股5%以上股东及其一致行动人因可转债转股导致持股比例被动稀释 权益变动过程 触及1%整数倍的公告》（公告编号：2025-061）。 加至1,133,57 ...

| 证券代码：002225 | 证券简称：濮耐股份 | 公告编号：2025-063 | | --- | --- | --- | | 债券代码：127035 | 债券简称：濮耐转债 | | 濮阳濮耐高温材料（集团）股份有限公司 关于控股股东、实际控制人因可转债转股 导致持股比例被动稀释触及 1%整数倍的公告 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 性陈述或重大遗漏。 | 变动方向 上升□ | 下降√ 一致行动人 | | | 有□ 无√ | | | --- | --- | --- | --- | --- | --- | | 是否为第一大股东或实际控制人 | | | 是√ | 否□ | | | | 2、本次权益变动情况 | | | | | | 股份种类（A股） | 变动股数（股） | | | 变动比例 | | | A 股 | 刘百宽家族持股数量未变，因可转债转股 | | | 被动稀释 | 0.17% | | | 被动稀释 | | | | | | 合计 | / | | | 被动稀释 | 0.17% | | 本次权益变动方式（可多 | 通过证券交易所的集中交易□ | | | | | ...

| 证券代码：002225 | 证券简称：濮耐股份 | 公告编号：2025-062 | | --- | --- | --- | | 债券代码：127035 | 债券简称：濮耐转债 | | 特别提示： 濮阳濮耐高温材料（集团）股份有限公司 关于提前赎回濮耐转债实施 暨即将停止交易的重要提示性公告 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 性陈述或重大遗漏。 重要内容提示： 1、最后交易日：2025 年 8 月 15 日 2025 年 8 月 15 日是"濮耐转债"最后一个交易日，当日"濮耐转债"简称为"Z 耐转 债"；2025 年 8 月 15 日收市后"濮耐转债"将停止交易。 2、最后转股日：2025 年 8 月 20 日 2025 年 8 月 20 日是"濮耐转债"最后一个转股日，当日收市前，持有"濮耐转债"的 投资者仍可进行转股；2025 年 8 月 20 日收市后，未转股的"濮耐转债"将停止转股。 3、截至 2025 年 8 月 13 日收市后，距离"濮耐转债"停止交易仅剩 2 个交易日，距离 "濮耐转债"停止转股并赎回仅剩 5 个交易日。本公司特提醒投资者仔细阅读本 ...

Summary of Conference Call for Hai Luo Co., Ltd. Industry Overview - Hai Luo Co., Ltd. is a leading player in the refractory materials industry in China, holding a market share of approximately 5% [2][3]. - The company is currently facing challenges due to the downturn in the steel industry, influenced by macroeconomic factors and real estate market conditions [3]. Key Points and Arguments Overseas Expansion - Hai Luo has shifted its strategy from product export to capacity export, establishing factories in the United States and Serbia, each with a capacity of 20,000 tons [2][4]. - The overseas revenue now accounts for over 20% of total income, which is higher than its peers [2][4]. - The factories are expected to enter a profit release phase by 2025, potentially contributing 200-300 million yuan in profit when fully operational [2][6]. Profitability in Overseas Markets - The profitability of overseas markets is significantly higher than that of domestic markets, with prices in the U.S. and Europe reaching 10,000 to 20,000 yuan per ton, compared to 4,000 to 5,000 yuan domestically [5]. - If production targets are met, the gross margin will substantially increase, positively impacting overall profitability [5]. Active Magnesium Oxide Business - Hai Luo has become the third-largest supplier of active magnesium oxide globally, leveraging high-quality mineral resources from Tibet [7]. - The global demand for active magnesium oxide is expected to double, from 300,000 tons to 600,000 tons, due to the increasing use in hydrometallurgy [7]. Future Growth Potential - The company plans to expand its production capacity in Europe, driven by increased infrastructure projects and post-war reconstruction in regions like Ukraine [8]. - Estimated sales volume in overseas markets could reach 300,000 to 400,000 tons, potentially generating over 1 billion yuan in profit [9][10]. 2025 Progress and Supply Agreements - In 2025, the company has entered a formal supply phase, with significant orders already secured, including a 500,000-ton contract with Gree for four years [11]. - This contract provides a strong endorsement and security for the company's supply chain, with expectations for further expansion into other regions [11]. Domestic Market Outlook - The domestic market is currently at a low point but is not expected to deteriorate further. Cost reduction and efficiency improvements could yield over 100 million yuan in profit if the steel industry improves [12]. Contribution of Magnesium Oxide Business - The magnesium oxide business is projected to contribute 250-300 million yuan in profit in 2025, with expectations to reach 500 million yuan in 2026 [14]. Valuation Assessment - The company's valuation is contingent on investor perceptions of its pricing model, with a potential growth space if profits of 20 million yuan are valued at a 10x P/E ratio [15]. Additional Important Insights - The company is actively exploring new markets and products, particularly in active magnesium oxide, which has shown significant growth potential [3]. - The high barriers to entry in the active magnesium oxide market due to resource scarcity and processing costs provide a competitive advantage for Hai Luo [7].

证券代码：002225 证券简称：濮耐股份 公告编号：2025-061 债券代码：127035 债券简称：濮耐转债 濮阳濮耐高温材料（集团）股份有限公司 关于控股股东、实际控制人和 持股 5%以上股东及其一致行动人因可转债转股导致 持股比例被动稀释触及 1%整数倍的公告 关法律、法规及规范性文件的规定。 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 性陈述或重大遗漏。 特此公告。 本次权益变动系濮阳濮耐高温材料（集团）股份有限公司（以下简称"公司"） 可转债转股，导致控股股东、实际控制人刘百宽家族和持股 5%以上股东郭志彦 先生及其一致行动人的持股比例被动稀释触及 1%整数倍，权益变动前后上述股 东持股数量无变化，公司控股股东、实际控制人未发生变化。具体情况如下： 濮阳濮耐高温材料（集团）股份有限公司董事会 一、公司控股股东、实际控制人刘百宽家族持股比例被动稀释触及 1%整数 倍的情况 信息披露义务人 刘百宽家族（共 8 人） 住所 河南省濮阳县西环路中段 权益变动时间 2025 年 7 月 26 日至 2025 年 8 月 8 日 刘百春、刘百庆、刘彩丽、闫瑞铅、闫瑞鸣合计减 ...

持股 5%以上股东及其一致行动人因可转债转股导致 持股比例被动稀释触及 1%整数倍的公告 | 证券代码：002225 | 证券简称：濮耐股份 | 公告编号：2025-061 | | --- | --- | --- | | 债券代码：127035 | 债券简称：濮耐转债 | | 濮阳濮耐高温材料（集团）股份有限公司 关于控股股东、实际控制人和 | 按照《证券法》第六十三条的 | | | --- | --- | | 规定，是否存在不得行使表决 | 是□ 否√ | | | 如是，请说明对应股份数量及占现有上市公司股本的比例。 | | 权的股份 | | | | 6、备查文件 | | 1．中国证券登记结算有限责任公司持股变动明细 | √ | | 2．相关书面承诺文件 | □ | | 3．律师的书面意见 | □ | | 4．深交所要求的其他文件 | √ | 二、持股 5%以上股东郭志彦先生及其一致行动人持股比例被动稀释触及 1%整数倍的情况 | 1、基本情况 | | | | --- | --- | --- | | 信息披露义务人 | 郭志彦及其一致行动人 | | | 住所 | 河南省濮阳县西环路中段 | | | 权益变动 ...

2025 年 8 月 15 日是"濮耐转债"最后一个交易日，当日"濮耐转债"简称为"Z 耐转 债"；2025 年 8 月 15 日收市后"濮耐转债"将停止交易。 | 证券代码：002225 | 证券简称：濮耐股份 公告编号：2025-060 | | --- | --- | | 债券代码：127035 债券简称：濮耐转债 | | 濮阳濮耐高温材料（集团）股份有限公司 关于提前赎回濮耐转债实施 暨即将停止交易的重要提示性公告 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 性陈述或重大遗漏。 重要内容提示： 1、最后交易日：2025 年 8 月 15 日 2、最后转股日：2025 年 8 月 20 日 2025 年 8 月 20 日是"濮耐转债"最后一个转股日，当日收市前，持有"濮耐转债"的 投资者仍可进行转股；2025 年 8 月 20 日收市后，未转股的"濮耐转债"将停止转股。 3、截至 2025 年 8 月 12 日收市后，距离"濮耐转债"停止交易仅剩 3 个交易日，距离 "濮耐转债"停止转股并赎回仅剩 6 个交易日。本公司特提醒投资者仔细阅读本公告内容， 关注相关风险，谨慎交 ...