（编辑 丛可心） 证券日报网讯 12月23日，濮耐股份发布公告称，公司已完成对全资子公司上海宝明耐火材料有限公司 的21，100万元增资工商变更，注册资本由6，400万元增至27，500万元，公司持股比例仍为100%。 ...

濮耐股份公告，公司于2025年11月26日召开董事会会议，同意对全资子公司上海宝明增资2.11亿元。增 资完成后，上海宝明注册资本将由6400万元增加到2.75亿元，公司对上海宝明持股比例仍为100%不 变。上海宝明已于近日完成增资事项的工商变更并取得营业执照。 ...

证券代码：002225 证券简称：濮耐股份 公告编号:2025-103 濮阳濮耐高温材料（集团）股份有限公司 企业类型：有限责任公司 住所：上海市宝山区杨行工业园区富锦路2319号 法定代表人：孙即帅 统一社会信用代码：9131011363154467X8 注册资本：27,500万元 成立日期：1999年10月12日 关于对全资子公司上海宝明增资事项完成工商变更的公告 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。 濮阳濮耐高温材料（集团）股份有限公司（以下简称"公司"）于2025年11 月26日召开第七届董事会第六次会议审议通过了《关于对全资子公司上海宝明增 资的议案》，同意公司对全资子公司上海宝明耐火材料有限公司（以下简称"上 海宝明"）增资21,100万元, 其中以前期投入的自有资金增资19,976万元，以新 增自有资金（现金方式）增资1,124万元。本次增资完成后，上海宝明注册资本 将由6,400万元增加到27,500万元，公司对上海宝明持股比例仍为100%不变。具 体详情请见《关于对全资子公司上海宝明增资的公告》（公告编号：2025-094） 上海宝 ...

Core Insights - The metallurgical refractory materials industry, crucial for high-temperature production in metallurgy, is facing challenges due to a downturn in the steel market, with a projected production decline of 3.73% in 2024, resulting in a total output of 22.07 million tons [1][6] - The industry is expected to shift from total growth to structural upgrades, focusing on green low-carbon transformation, technological advancements, and market optimization [1][10] Industry Overview - Metallurgical refractory materials are inorganic non-metallic materials with a refractoriness of at least 1580°C, essential for stable operation in high-temperature metallurgical processes [2][5] - The industry is characterized by a "large industry, small enterprises" structure, with the top five companies accounting for only 11.90% of total production [1][10] Market Performance - The overall market size for refractory materials in China is projected to reach 90.3 billion yuan in 2024, with a compound annual growth rate of -2.3% from 2020 to 2024 [1][7] - Metallurgical refractory materials account for approximately 70% of the total market size, with a projected scale of 63.21 billion yuan in 2024, reflecting a year-on-year decline of 1.74% [1][7] Product Segmentation - The market shows a clear differentiation in product performance: dense shaped refractory products are expected to decline by 6.07%, while thermal insulation products are projected to grow by 11.17% due to their low-carbon advantages [6][7] - The production of unshaped refractory materials is expected to see a slight decrease of 2.07%, indicating relative demand resilience [6] Industry Chain - The industry chain is tightly linked, with upstream raw materials like bauxite and magnesite affecting overall costs, while the midstream focuses on product development and manufacturing [8][9] - The downstream application is primarily in the steel industry, which accounts for over 65% of refractory material consumption [9] Competitive Landscape - The industry is fragmented with over 2,000 companies, where leading firms are focusing on high-end, green, and differentiated product development [10] - Major companies like Beijing Lier and Puyang Refractories are expanding their international presence and enhancing product offerings to adapt to market demands [10] Future Trends - The industry is expected to prioritize green low-carbon transformation, with a shift towards low-energy production processes and environmentally friendly products [11][12] - Technological advancements will focus on high-performance composite materials and smart manufacturing techniques to meet the evolving needs of the metallurgy sector [12][13] - Market consolidation is anticipated, with leading firms increasing their market share through mergers and acquisitions, while smaller companies will focus on niche markets [13]

Group 1: Capital Market Developments - Wu Qing emphasized the need to enhance the inclusiveness and attractiveness of the capital market to better serve high-quality economic development and modernization [1] - The China Securities Regulatory Commission (CSRC) is committed to implementing the "14th Five-Year Plan" for the capital market, focusing on risk prevention, strong regulation, and promoting high-quality development [1] Group 2: Economic Indicators - The U.S. November CPI increased by 2.7%, lower than the expected 3.1%, while the core CPI rose by 2.6%, against an expectation of 3% [2] - Initial jobless claims in the U.S. were reported at 224,000, slightly below the forecast of 225,000 [2] - Following the data release, the likelihood of a Federal Reserve rate cut in January rose from 26.6% to 28.8% [2][6] Group 3: IPO and Market Activities - Shenzhen Dapu Microelectronics is set to undergo an IPO review on December 25, marking the first IPO of an unprofitable company on the ChiNext board [3] - The company reported cumulative losses of 1.566 billion yuan from 2022 to the first half of 2025 [3] Group 4: Regulatory Updates - The State-owned Assets Supervision and Administration Commission (SASAC) has refined the accountability system for central enterprises, introducing compliance exemption clauses for due diligence in investment [5] - The State Administration for Market Regulation is focusing on optimizing the business environment and addressing "involution" competition to promote healthy market order [8] Group 5: Corporate Announcements - Guo An Quantum's chairman, Lv Pin, passed away at the age of 46, which may impact the company's strategic direction [22] - Feilong Co., Ltd. experienced a stock price surge of 29.02% following the announcement of a share reduction by its controlling shareholder [18] - Puyang Co. acquired a 15.28% stake in Xinjiang Qinxiong for 10 million yuan, increasing its ownership from 52.49% to 67.77% [20] - Chicheng Co. plans to invest up to 80 million yuan of idle funds in short-term cash management products to enhance capital efficiency [21] - Master Kong's CEO, Chen Yingrang, will retire, with Wei Hongcheng, the founder's son, taking over as CEO starting January 1, 2026 [22]

格隆汇12月18日丨濮耐股份(002225.SZ)公布，公司2025年12月16日以公开竞买方式取得和静县希望投 资（集团）有限公司（简称"希望投资"）在兵团公共资源交易平台挂牌出让的其所持新疆秦翔科技有限 公司（简称"新疆秦翔"）15.28%股权，并与希望投资签署了《股权转让合同》，公司以自有资金1,000 万元受让上述股权（不含交易手续费等其他费用）。交易完成后，公司对新疆秦翔的持股比例由 52.49%提升至67.77%，新疆秦翔仍为公司的控股子公司。 ...

Core Viewpoint - Company Puhui Co., Ltd. has acquired a 15.28% stake in Xinjiang Qinxiong Technology Co., Ltd. through a public bidding process, increasing its ownership from 52.49% to 67.77% [1] Group 1: Investment Details - The company invested 10 million yuan of its own funds to acquire the stake, excluding transaction fees and other costs [1] - The acquisition is aimed at enhancing the company's control over Xinjiang Qinxiong and accelerating the development of the Halahat Magnesite Mine [1]

格隆汇12月18日丨濮耐股份(002225.SZ)公布，公司2025年12月16日以公开竞买方式取得和静县希望投 资（集团）有限公司（简称"希望投资"）在兵团公共资源交易平台挂牌出让的其所持新疆秦翔科技有限 公司（简称"新疆秦翔"）15.28%股权，并与希望投资签署了《股权转让合同》，公司以自有资金1,000 万元受让上述股权（不含交易手续费等其他费用）。交易完成后，公司对新疆秦翔的持股比例由 52.49%提升至67.77%，新疆秦翔仍为公司的控股子公司。 ...

智通财经APP讯，濮耐股份(002225.SZ)公告，公司于2025年12月16日以公开竞买方式取得和静县希望投 资(集团)有限公司("希望投资")在兵团公共资源交易平台挂牌出让的其所持新疆秦翔科技有限公司("新疆 秦翔")15.28%股权，并与希望投资签署了《股权转让合同》，公司以自有资金1000万元受让上述股权 (不含交易手续费等其他费用)。交易完成后，公司对新疆秦翔的持股比例由52.49%提升至67.77%。 ...

智通财经APP讯，濮耐股份(002225.SZ)公告，公司于2025年12月16日以公开竞买方式取得和静县希望投 资(集团)有限公司("希望投资")在兵团公共资源交易平台挂牌出让的其所持新疆秦翔科技有限公司("新疆 秦翔")15.28%股权，并与希望投资签署了《股权转让合同》，公司以自有资金1000万元受让上述股权 (不含交易手续费等其他费用)。交易完成后，公司对新疆秦翔的持股比例由52.49%提升至67.77%。 ...