Core Viewpoint - Zhejiang DoubleArrow Rubber Co., Ltd. has issued convertible bonds to raise funds for its operations, with a total amount of RMB 51.364 million, and the company continues to maintain a leading position in the rubber conveyor belt industry despite facing challenges in revenue growth [2][3][18]. Section 1: Bond Issuance Details - The company has received approval from the China Securities Regulatory Commission for the issuance of convertible bonds, which was passed by the board and shareholders in 2021 [2]. - A total of 5.1364 million convertible bonds were issued at a face value of RMB 100 each, raising a gross amount of RMB 51.364 million [3][4]. - The bonds have a maturity period of six years, from February 11, 2022, to February 10, 2028, with a tiered interest rate starting from 0.30% in the first year to 2.00% in the sixth year [4][5]. Section 2: Financial Performance - In 2024, the company produced 91.0865 million square meters of rubber conveyor belts, a year-on-year increase of 13.41%, while the operating revenue was RMB 271.284 million, reflecting a 4.64% increase compared to the previous year [18]. - The net profit attributable to shareholders decreased by 37.70% to RMB 14.41989 million, and the basic earnings per share dropped by 37.29% to RMB 0.37 [19]. - The total assets of the company increased by 1.37% to RMB 379.647 million, while the weighted average return on equity decreased to 6.76% [19]. Section 3: Use of Raised Funds - The net proceeds from the bond issuance amounted to RMB 50.65643 million, which have been allocated to specific projects as planned [19]. - The company has not changed the use of the raised funds, and the feasibility of the investment projects remains intact [19]. - The company has invested a total of RMB 52.05014 million from the raised funds, achieving 102.75% of the planned investment [19]. Section 4: Company Overview - Zhejiang DoubleArrow Rubber Co., Ltd. specializes in the research, production, and sales of rubber conveyor belts, serving various industries such as power, ports, metallurgy, and mining [18]. - The company has established a complete product chain from ordinary to high-end conveyor belts and has been recognized as the top in the rubber conveyor belt industry in China for several consecutive years [18].

证券代码：002381 证券简称：双箭股份 债券代码：127054 债券简称：双箭转债 浙江双箭橡胶股份有限公司 向不特定对象发行可转换公司债券 受托管理事务报告 （2024 年度） 债券受托管理人 二〇二五年六月 1 重要声明 本报告依据《公司债券发行与交易管理办法》（以下简称"《管理办法》"）、 《浙江双箭橡胶股份有限公司（作为发行人）与华泰联合证券有限责任公司（作 为受托管理人）关于浙江双箭橡胶股份有限公司公开发行可转换公司债券之债券 受托管理协议》（以下简称"《受托管理协议》"）、《浙江双箭橡胶股份有限 公司公开发行可转换公司债券募集说明书》（以下简称"《募集说明书》"）《浙 江双箭橡胶股份有限公司 2024 年年度报告》等相关公开信息披露文件、第三方 中介机构出具的专业意见等，由本期债券受托管理人华泰联合证券有限责任公司 （以下简称"华泰联合证券"）编制。华泰联合证券对本报告中所包含的从上述 文件中引述内容和信息未进行独立验证，也不就该等引述内容和信息的真实性、 准确性和完整性做出任何保证或承担任何责任。 本报告不构成对投资者进行或不进行某项行为的推荐意见，投资者应对相关 事宜做出独立判断，而不应将 ...

Group 1 - The company Zhejiang Shuangjian Rubber Co., Ltd. is undergoing a transfer of state-owned equity, where its major shareholder, Tongxiang State-owned Capital Investment Operation Co., Ltd., will transfer 21,000,000 shares (5.10% of total shares) to its wholly-owned subsidiary, Tongxiang Runtong Holdings Co., Ltd. [1] - The transfer of shares has been completed and registered with China Securities Depository and Clearing Corporation Limited on June 25, 2025, with the shares being unrestricted circulating shares [2] - Following the transfer, Tongxiang State-owned Capital Investment Operation Co., Ltd. will no longer hold any direct shares in the company, while Tongxiang Runtong Holdings Co., Ltd. will become the third-largest shareholder with 21,000,000 shares (5.10% of total shares) [2][3] Group 2 - The transfer of state-owned shares will not change the total number of shares held by the controlling shareholders and will not affect the actual controller of the company [3] - The transfer is not expected to impact the normal production and operational activities of the company [3]

| 证券代码：002381 | 证券简称：双箭股份 | 公告编号：2025-024 | | --- | --- | --- | | 债券代码：127054 | 债券简称：双箭转债 | | 浙江双箭橡胶股份有限公司 关于公司股东国有股权无偿划转完成过户登记的公告 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。 一、本次国有股权无偿划转概述 浙江双箭橡胶股份有限公司（以下简称"公司"或"本公司"）持股5%以上 股东桐乡市国有资本投资运营有限公司（以下简称"桐乡国投"）为进一步盘活 公司存量资源、优化国有资本布局、做强做优做大国有资本，拟将其直接持有的 本公司21,000,000股无限售条件流通A股股份（占公司目前总股本的5.10%）全部 无偿划转至其全资子公司桐乡市润桐控股有限公司（以下简称"润桐控股"）。 具体内容请见公司于2024年12月12日披露于《证券时报》《上海证券报》和巨潮 资讯网（www.cninfo.com.cn）上的《关于公司股东国有股权无偿划转暨股东权 益变动的提示性公告》（公告编号：2024-043）及同日披露在巨潮资讯网 本次股份无偿划转不 ...

| 证券代码：002381 | 证券简称：双箭股份 | 公告编号：2025-023 | | --- | --- | --- | | 债券代码：127054 | 债券简称：双箭转债 | | 浙江双箭橡胶股份有限公司 关于可转换公司债券 2025 年跟踪评级结果的公告 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。 本次中证鹏元在对公司运营环境、经营与竞争、财务分析等方面进行综合分 析和评估的基础上，于2025年6月25日出具了《浙江双箭橡胶股份有限公司相关 债券2025年跟踪评级报告》，维持公司主体信用等级为"AA"，维持评级展望为 "稳定"，维持"双箭转债"的信用等级为"AA"。本次评级结果较上次没有变 化。 中证鹏元出具的《浙江双箭橡胶股份有限公司相关债券 2025 年跟踪评级报 告》具体内容于 2025 年 6 月 26 日披露在巨潮资讯网（http://www.cninfo.com.cn） 上。 特此公告。 浙江双箭橡胶股份有限公司 董 事 会 二○二五年六月二十六日 根据中国证券监督管理委员会《公司债券发行与交易管理办法》《上市公司 证券发行注册管理办 ...

浙江双箭橡胶股份有限公司相关 债券 2025 年跟踪评级报告 中鹏信评【2025】跟踪第【306】号 01 信用评级报告声明 除因本次评级事项本评级机构与评级对象构成委托关系外，本评级机构及评级从业人员与评级对象不存 在任何足以影响评级行为独立、客观、公正的关联关系。 本评级机构与评级从业人员已履行尽职调查义务，有充分理由保证所出具的评级报告遵循了真实、客观、 公正原则，但不对评级对象及其相关方提供或已正式对外公布信息的合法性、真实性、准确性和完整性 作任何保证。 本评级机构依据内部信用评级标准和工作程序对评级结果作出独立判断，不受任何组织或个人的影响。 本评级报告观点仅为本评级机构对评级对象信用状况的个体意见，不作为购买、出售、持有任何证券的 建议。本评级机构不对任何机构或个人因使用本评级报告及评级结果而导致的任何损失负责。 本次评级结果自本评级报告所注明日期起生效，有效期为被评证券的存续期。同时，本评级机构已对受 评对象的跟踪评级事项做出了明确安排，并有权在被评证券存续期间变更信用评级。本评级机构提醒报 告使用者应及时登陆本公司网站关注被评证券信用评级的变化情况。 本评级报告版权归本评级机构所有，未经授权 ...

Market Overview - As of 13:59 today, the Shanghai Composite Index is at 3372.33 points, with a slight decline of -0.23% [1] - The total trading volume of A-shares today is 838.849 billion yuan [1] Stocks Breaking Annual Line - A total of 68 A-shares have surpassed their annual line today, with notable stocks including: - Puris (乖离率 6.48%) - Aisen Co., Ltd. (乖离率 5.81%) - Fosa Technology (乖离率 4.02%) [1] Stocks with Significant Deviation - The stocks with the largest deviation from the annual line include: - Puris: Today's price increased by 7.19% to 30.70 yuan - Aisen Co., Ltd.: Today's price increased by 7.47% to 42.00 yuan - Fosa Technology: Today's price increased by 4.30% to 32.71 yuan [1] Additional Stocks with Positive Performance - Other stocks showing positive performance and their respective deviations include: - Yao Stone Technology: 3.77% increase, 3.51% deviation - Fuling Power: 6.24% increase, 3.42% deviation - Yingjie Electric: 5.37% increase, 3.38% deviation [1] Summary of Stocks with Minor Deviations - Stocks with minor deviations from the annual line include: - Huayang Intelligent: 4.58% increase, 2.48% deviation - Boying Special Welding: 2.32% increase, 2.06% deviation - Stone Technology: 2.02% increase, 1.96% deviation [1]

Investment Rating - The report maintains a "Recommended" rating for the chemical industry [1]. Core Insights - The report highlights the potential revaluation of phosphate rock value due to ongoing supply-demand tensions, with increasing demand for phosphate fertilizers and lithium iron phosphate batteries [6][4]. - The chemical industry is expected to enter a restocking cycle in 2025, driven by low inventory levels and improving profitability among leading chemical companies [5][27]. - The report emphasizes the expansion of phosphate production capacity by Batian Co., which is set to increase its phosphate rock extraction capacity to 2 million tons per year [4][6]. Summary by Sections Core Target Tracking - The report tracks key companies in the chemical sector, including Batian Co., which is expanding its phosphate production capacity significantly [4][6]. - It also notes the performance of various chemical products, with a focus on price increases for butadiene and polyester filament due to favorable market conditions [10][14]. Market Observation - The chemical sector has shown a relative performance of 6.7% over the past month, outperforming the CSI 300 index [2]. - The report indicates that the chemical industry is experiencing a recovery phase, with several companies poised for growth due to favorable market dynamics [5][27]. Data Tracking - The report provides detailed tracking of price movements for key chemical products, including butadiene, polyester filament, and various fertilizers, indicating a general upward trend in prices [10][12][17]. - It also highlights the current chemical industry sentiment index at 93.10, reflecting a positive outlook for the sector [6][33]. Investment Recommendations - The report suggests focusing on companies with low-cost expansion capabilities, such as Wanhua Chemical and various tire manufacturers, as well as those benefiting from rising product prices [5][7]. - It emphasizes the importance of high dividend yield companies in the chemical sector, particularly state-owned enterprises with stable financials [8][29].

Core Viewpoint - Zhejiang Shuangjian Rubber Co., Ltd. has announced its 2024 annual equity distribution plan, which includes a cash dividend of RMB 2.00 per 10 shares, to be implemented on May 16, 2025, with a record date of May 15, 2025 [1][5][18]. Summary by Sections Equity Distribution Plan - The equity distribution plan was approved at the 2024 annual shareholders' meeting held on April 25, 2025 [1][3]. - The plan specifies a cash dividend of RMB 2.00 per 10 shares (before tax), with undistributed profits carried forward to the next year; no bonus shares or capital reserves will be converted into shares [1][5][18]. - For overseas institutions and certain individual shareholders, the cash dividend will be RMB 1.80 per 10 shares after tax [5]. Record and Ex-Dividend Dates - The record date for the equity distribution is set for May 15, 2025, and the ex-dividend date is May 16, 2025 [5][6]. Adjustment of Convertible Bond Conversion Price - Following the equity distribution, the conversion price of the company's convertible bonds ("Shuangjian Convertible Bonds") will be adjusted from RMB 7.26 per share to RMB 7.06 per share, effective from May 16, 2025 [9][19]. - The adjustment is calculated based on the cash dividend distributed, using the formula P1 = P0 - D, where P0 is the original conversion price and D is the cash dividend per share [18]. Distribution Method - The cash dividends will be directly credited to the shareholders' accounts through their custodial securities companies on the ex-dividend date [8]. Consultation Information - For inquiries, shareholders can contact the Securities and Investment Department of Zhejiang Shuangjian Rubber Co., Ltd. [10].

| 证券代码：002381 | 证券简称：双箭股份 | 公告编号：2025-021 | | --- | --- | --- | | 债券代码：127054 | 债券简称：双箭转债 | | 浙江双箭橡胶股份有限公司 2024 年年度权益分派实施公告 一、股东大会审议通过权益分配方案等情况 1、公司2024年年度权益分派方案的具体内容为：以未来实施分配方案时股 权登记日的总股本为基数，按每10股派发现金股利人民币2.00元（含税），剩余 未分配利润结转至下一年度；不送红股，不以公积金转增股本。 2、如在利润分配方案公告后至实施前，出现可转债转股、股份回购、股权 激励行权等使公司总股本发生变动的，公司按照分配比例不变的原则，相应调整 实际分配总金额。 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 其调整原则是一致的。 4、本次实施分配方案距离公司股东大会通过该方案的时间未超过两个月。 二、权益分派方案 本公司2024年年度权益分派方案为：以公司未来实施分配方案时股权登记日 的总股本为基数，向全体股东每10股派2.000000元人民币现金（含税；扣税后， 境外机构（含QFII、RQFII）以 ...