Group 1 - The A-share market saw a strong performance with major indices rising, particularly in sectors such as electrical engineering, industrial machinery, chemical raw materials, building materials, and construction [1] - The building materials ETF (516750) experienced a significant increase, reaching a peak rise of 7.88% during trading, with a current increase of 7.11% and trading volume exceeding 66 million yuan [1] - A total of 16 central enterprises signed investment agreements for 75 industrial projects in Tibet, amounting to 317.537 billion yuan, focusing on urgent needs in clean energy, green minerals, electricity communication, and infrastructure [1] Group 2 - The construction materials ETF (516750) closely tracks the CSI All Share Building Materials Index, reflecting the overall performance of stocks in the building materials industry [2] - The process of "de-involution" in industries such as petrochemicals and building materials may present significant investment opportunities [2]

Group 1 - The A-share innovative drug concept stocks are experiencing a rebound, with notable increases in stock prices [1] - Leyi Group reached the daily limit increase, while Yipinhong surged by 14%, Hite Bio increased by over 13%, and Haipu Rui rose by over 5% [1] - Other companies such as Fuyuan Pharmaceutical, Anglikang, and Shutaishen also saw their stock prices rise [1]

关于预计触发转股价格向下修正条件的提示性公告 | 证券代码：002398 | 证券简称：垒知集团 | 公告编号：2025-057 | | --- | --- | --- | | 债券代码：127062 | 债券简称：垒知转债 | | 垒知控股集团股份有限公司 关于预计触发转股价格向下修正条件的提示性公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 特别提示： 1、证券代码：002398 证券简称：垒知集团 4、转股期限：2022 年 10 月 27 日至 2028 年 4 月 20 日 5、自 2025 年 7 月 4 日至 2025 年 7 月 17 日，公司股票在连续 30 个交易日 中已有连续 10 个交易日的收盘价低于当期转股价格的 85%，预计触发转股价格 向下修正条件。若触发转股价格修正条件，公司将按照深交所相关规定及募集说 明书的约定及时履行后续审议程序和信息披露义务。 一、可转换公司债券发行上市情况 （一）可转债发行情况 经中国证券监督管理委员会证监许可［2022］409 号《关于核准垒知控股集 团股份有限公司公开发行可转换公司债券的批复》核准 ...

垒知控股集团股份有限公司第六届董事会第三十次会议决议公告 | 证券代码：002398 | 证券简称：垒知集团 | 公告编号：2025-055 | | --- | --- | --- | | 债券代码：127062 | 债券简称：垒知转债 | | 本次会议采用记名投票表决方式表决议案，形成了以下决议： （一）审议通过了《关于不向下修正"垒知转债"转股价格的议案》；表决 结果为：9 票赞成、0 票反对、0 票弃权。 公司董事会综合考虑公司的基本情况、股价走势、市场环境等多重因素， 以及对公司长期稳健发展的信心，兼顾维护全体投资者的利益，公司董事会决定 本次不向下修正"垒知转债"转股价格。从 2025 年 7 月 4 日起重新计算，若公 司股价再次触发"垒知转债"转股价格向下修正条款的，届时公司董事会将再次 召开会议决定是否行使"垒知转债"转股价格向下修正的权利。 具体内容详见 2025 年 7 月 4 日公司在指定信息披露媒体巨潮资讯网 垒知控股集团股份有限公司 第六届董事会第三十次会议决议公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 一、会议通知、召集及召开 ...

关于不向下修正"垒知转债"转股价格的公告 | 证券代码：002398 | 证券简称：垒知集团 | 公告编号：2025-056 | | --- | --- | --- | | 债券代码：127062 | 债券简称：垒知转债 | | 垒知控股集团股份有限公司 经中国证券监督管理委员会证监许可［2022］409 号《关于核准垒知控股集 团股份有限公司公开发行可转换公司债券的批复》核准，公司获准发行 3,963,000.00 张可转换公司债券，募集资金总额为人民币 396,300,000.00 元，扣 除各项发行费用合计人民币 5,839,448.12 元（不含增值税）后，实际募集资金净 关于不向下修正"垒知转债"转股价格的公告 关于不向下修正"垒知转债"转股价格的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 特别提示： 1、截至 2025 年 7 月 3 日，公司股票在连续 30 个交易日（2025 年 6 月 13 日至 2025 年 7 月 3 日）中已有连续 15 个交易日的收盘价低于当期转股价格的 85%，已触发转股价格向下修正条件。 2、经公司第六届董 ...

2025 年第二季度可转换公司债券转股情况的公告 | 证券代码：002398 | 证券简称：垒知集团 | 公告编号：2025-054 | | --- | --- | --- | | 债券代码：127062 | 债券简称：垒知转债 | | 垒知控股集团股份有限公司 2025 年第二季度可转换公司债券转股情况的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 特别提示： | 股票代码：002398 | | | | | 股票简称：垒知集团 | | --- | --- | --- | --- | --- | --- | | 债券代码：127062 | | | | | 债券简称：垒知转债 | | 转股价格：7.59 元/股 | | | | | | | 转股起始时间：2022 | 年 | 10 | 月 | 27 | 日 | | 转股截止时间：2028 | 年 | 4 | 月 | 20 | 日 | 根据《深圳证券交易所股票上市规则》、《深圳证券交易所可转换公司债券 业务实施细则》的有关规定，垒知控股集团股份有限公司（以下简称"垒知集团" 或"公司"）就 2025 年第二季度 ...

Core Viewpoint - The concrete admixture market in China is experiencing a downturn due to the ongoing adjustments in the real estate sector, leading to a projected market size decrease to 49.45 billion yuan in 2024, a year-on-year decline of 9.04% [1][10]. Industry Overview - The concrete admixture is defined as materials added to concrete to improve its performance, excluding cement, aggregates, water, and fibers [2]. - The industry is significantly influenced by macroeconomic factors such as economic growth and investment scale, with infrastructure investments providing some growth opportunities despite overall economic pressures [4]. Market Demand - The primary demand for concrete admixtures comes from infrastructure construction and the real estate market, with fixed asset investment in China projected at 51.437 trillion yuan in 2024, a growth of 3.2%, while real estate development investment is expected to decrease by 10.6% [8]. - The concrete production volume is anticipated to drop to 2.101 billion cubic meters in 2024, reflecting a year-on-year decrease of 12.34% [8]. Competitive Landscape - The concrete admixture industry is facing intense competition, with many companies struggling due to a prolonged downturn in demand, particularly from the real estate sector transitioning from new construction to existing property management [13]. - Despite the challenges, several companies have distinguished themselves through superior technology and product quality, as evidenced by the top ten companies listed in the concrete admixture sector [13]. Key Companies - Jiangsu Subote New Materials Co., Ltd. reported a total revenue of 3.555 billion yuan in 2024, with 2.583 billion yuan from admixture business, accounting for 72.66% of total revenue [15]. - Leizhi Holding Group Co., Ltd. achieved a revenue of 2.617 billion yuan in 2024, with 1.955 billion yuan from admixture materials, representing 74.70% of total revenue [17]. Development Trends - The demand for high-performance admixtures is expected to grow, including multifunctional admixtures that can reduce costs and improve construction efficiency [19]. - There is a rising trend towards environmentally friendly admixtures, with companies encouraged to develop and apply bio-based and low-VOC products to meet market demands for green building materials [19].

债券受托管理人 证券代码：002398 证券简称：垒知集团 债券代码：127062 债券简称：垒知转债 垒知控股集团股份有限公司 公开发行可转换公司债券 受托管理事务报告 二〇二五年六月 P A G （2024 年度） 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》"）、 《垒知控股集团股份有限公司（作为"发行人"）与国泰海通证券股份有限公司 （作为"债券受托管理人"）关于垒知控股集团股份有限公司公开发行可转换公 司债券之受托管理协议》（以下简称《"《《受托管理协议》"）、《垒知控股集团股份有 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》"）《垒 知控股集团股份有限公司 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国泰海通证券股份有限公司 （以下简称"国泰海通"或"债券受托管理人"）编制。国泰海通对本报告中所 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 ...

关于预计触发转股价格向下修正条件的提示性公告 | 证券代码：002398 | 证券简称：垒知集团 | 公告编号：2025-053 | | --- | --- | --- | | 债券代码：127062 | 债券简称：垒知转债 | | 垒知控股集团股份有限公司 关于预计触发转股价格向下修正条件的提示性公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 特别提示： 1、证券代码：002398 证券简称：垒知集团 2、债券代码：127062 债券简称：垒知转债 3、转股价格：7.59 元/股 4、转股期限：2022 年 10 月 27 日至 2028 年 4 月 20 日 （四）可转债转股价格调整情况 5、自 2025 年 6 月 13 日至 2025 年 6 月 26 日，公司股票在连续 30 个交易 日中已有连续 10 个交易日的收盘价低于当期转股价格的 85%，预计触发转股价 格向下修正条件。若触发转股价格修正条件，公司将按照深交所相关规定及募集 说明书的约定及时履行后续审议程序和信息披露义务。 一、可转换公司债券发行上市情况 （一）可转债发行情况 经中国证券监 ...

Core Viewpoint - The credit rating agency maintains the long-term credit rating of Leizhi Holdings Group Co., Ltd. at AA- with a stable outlook, despite a decline in revenue and profit due to a slowdown in infrastructure investment and real estate development [1][3]. Company Overview - Leizhi Holdings specializes in construction technology services and new building materials, classified under the chemical industry [10]. - As of March 2025, the company had total assets of 58.26 billion yuan and equity of 36.89 billion yuan [9]. Financial Performance - In 2024, the company reported total revenue of 26.17 billion yuan, a decrease of 14.42% year-on-year, with profit totaling 0.48 billion yuan [9][15]. - The company's new building materials business saw a revenue decline of 12.17%, primarily due to falling prices and volumes of its additive products [15]. - The overall gross margin decreased by 2.68 percentage points in 2024, influenced by lower prices for additives [15]. Debt and Liquidity - The total debt of the company was 5.39 billion yuan as of the end of 2024, with a debt-to-asset ratio of 38.82% [5][9]. - The company has a strong debt repayment capacity, with an EBITDA interest coverage ratio of 5.92 times [5][9]. Market Position - The company holds a market share of 10.50% in the concrete additive sector, ranking first in several provinces including Fujian and Guizhou [10]. - The company has a comprehensive range of qualifications in engineering, traffic, and electrical testing, enhancing its competitive edge [3][10]. Industry Analysis - The chemical industry is experiencing a downturn, with revenue and profit trends showing divergence across segments [9]. - Despite challenges, domestic demand is expected to grow due to supportive policies, which may lead to a recovery in industry conditions [9]. Future Outlook - The company is expected to stabilize its production capacity as ongoing projects come online, with a focus on market absorption of new additive capacities [4]. - Potential factors for rating upgrades include significant capacity expansion and improved profitability [4].