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].

垒知控股集团股份有限公司 关于公司公开发行可转换公司债券 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。 关于公司公开发行可转换公司债券 2025 年跟踪评级结果的公告 | 证券代码：002398 | 证券简称：垒知集团 | 公告编号：2025-052 | | --- | --- | --- | | 债券代码：127062 | 债券简称：垒知转债 | | 关于公司公开发行可转换公司债券 2025 年跟踪评级结果的公告 二〇二五年六月二十六日 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 证券发行管理办法》和《深圳证券交易所股票上市规则》的有关规定，垒知控股 集团股份有限公司（以下简称"公司"）委托信用评级机构联合资信评估股份有 限公司对公司 2022 年发行的"垒知转债"进行了跟踪信用评级。 前次主体长期信用等级为"AA-"，评级展望为"稳定"；"垒知转债"前次 信用等级为"AA-"；评级机构为联合资信评估股份有限公司，评级时间为 2024 年 6 月 14 日。 评级机构联合资信评估股份有限公司通过对公司主 ...

垒知控股集团股份有限公司 公开发行可转换公司债券 2025 年跟踪评级报告 www.lhratings.com 联合〔2025〕5213 号 联合资信评估股份有限公司通过对垒知控股集团股份有限公司 主体及其相关债券的信用状况进行跟踪分析和评估，确定维持垒知 控股集团股份有限公司主体长期信用等级为 AA-，维持"垒知转债" 信用等级为 AA-，评级展望为稳定。 特此公告 联合资信评估股份有限公司 评级总监： 二〇二五年六月二十五日 声 明 二、本报告系联合资信接受垒知控股集团股份有限公司（以下简称"该 公司"）委托所出具，除因本次评级事项联合资信与该公司构成评级委托关 系外，联合资信、评级人员与该公司不存在任何影响评级行为独立、客观、 公正的关联关系。 三、本报告引用的资料主要由该公司或第三方相关主体提供，联合资信 履行了必要的尽职调查义务，但对引用资料的真实性、准确性和完整性不作 任何保证。联合资信合理采信其他专业机构出具的专业意见，但联合资信不 对专业机构出具的专业意见承担任何责任。 四、本次跟踪评级结果自本报告出具之日起至相应债券到期兑付日有 效；根据跟踪评级的结论，在有效期内评级结果有可能发生变化。联合 ...

Group 1: Product Introduction and Features - The new AI product, LetsRobot MI, is designed for remote quality control of concrete, addressing key industry pain points such as heavy reliance on manual labor, unstable quality, and safety hazards [2][3] - LetsRobot MI includes features like full-process intelligent monitoring, AI diagnosis for concrete quality, compliance control during unloading, and real-time monitoring of additive levels [3] Group 2: Market Response and Orders - The industry response to LetsRobot MI has been positive, with high recognition and approximately 252 units installed in Q1 2025, and over 400 units in hand orders yet to be installed [3] Group 3: Business Environment and Market Position - The company has significant room for growth in the concrete additive market due to its low market concentration and has completed its domestic layout while expanding into overseas markets [3] - The customer base for the company's concrete additives primarily consists of concrete mixing stations and large construction enterprises, with an increasing trend in large construction clients [4] Group 4: Strategic Development and Acquisitions - The company is actively seeking acquisition targets, focusing on niche areas within the construction sector, particularly in the subdivision of existing buildings to enhance long-term development and competitiveness [4] Group 5: Building Inspection Services - The company has extensive experience in building engineering inspection, with house inspection and appraisal as a core competency, and plans to leverage market opportunities in this area [4]

Meeting Notification and Conduct - The 29th meeting of the 6th Board of Directors of Leizhi Holdings Group Co., Ltd. was held on June 12, 2025, in Xiamen, with all 9 directors present, complying with relevant regulations [1][2]. Meeting Resolutions - The board unanimously approved the proposal not to lower the conversion price of "Leizhi Convertible Bonds," with a voting result of 9 votes in favor, 0 against, and 0 abstentions [1][2]. Considerations for Decision - The board considered multiple factors, including the company's fundamentals, stock price trends, and market environment, while maintaining confidence in the company's long-term stable development and protecting the interests of all investors [2]. Future Actions - Starting from June 13, 2025, the conversion price will be recalculated, and if the stock price triggers the downward adjustment clause again, the board will convene to decide on the potential adjustment [2]. Reference for Further Information - Detailed information regarding the decision will be disclosed on the designated information disclosure platform on June 13, 2025 [2].

垒知控股集团股份有限公司第六届董事会第二十九次会议决议公告 | 证券代码：002398 | 证券简称：垒知集团 | 公告编号：2025-050 | | --- | --- | --- | | 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 第六届董事会第二十九次会议决议公告 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。 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 6 月 13 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 6 月 13 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 ...