Core Viewpoint - Shandong Energy Qixiang Tengda is focusing on stock optimization as a key strategy, successfully completing a technical upgrade of its 400,000-ton tertiary butanol facility and achieving stable production of a 70,000-ton anhydrous tertiary butanol unit, marking a significant step in the high-end fine chemical sector [1] Group 1: Company Strategy - The company is addressing cyclical adjustments in the chemical industry by thoroughly analyzing its industry position, identifying strengths and weaknesses, and implementing a series of stock optimization plans to enhance efficiency and effectiveness [1] - Qixiang Tengda is exploring new paths for industrial transformation and upgrading by expanding its industrial chain and developing new products with deeper technological advantages, better low-carbon solutions, and higher process added value [1] Group 2: Product Development - The upgraded anhydrous tertiary butanol unit targets high-value downstream applications, with its usage expanding beyond traditional solvents into high-purity electronic-grade materials, bio-based materials, and pharmaceutical intermediates, with demand showing rapid growth [1] - The company has established a diversified and collaborative industrial chain centered around methyl ethyl ketone and maleic anhydride, extending to over 30 products including epoxy propane, acrylic acid, nitrile latex, and synthetic rubber [1] Group 3: Future Projects - The annual production of 8,000 tons of high-performance catalytic new materials is progressing steadily, aiming to create a high-performance catalyst industry base that integrates petrochemical and coal chemical processes, supporting the domestic replacement of high-end catalysts [1]

Core Viewpoint - Qisheng Tenda announced that it will not adjust the conversion price of its convertible bonds, "Qisheng Zhuang 2," despite triggering conditions for a downward adjustment due to stock prices being below 90% of the conversion price for at least 10 out of 20 consecutive trading days [2] Group 1 - As of December 10, 2025, the company's stock price has triggered the condition for downward adjustment of the conversion price [2] - The board of directors decided not to proceed with the downward adjustment of the conversion price at the meeting held on December 10, 2025 [2] - The company will not propose a downward adjustment plan if the conditions are triggered again within three months from December 11, 2025, to March 10, 2026 [2] Group 2 - After March 11, 2026, if the conditions for downward adjustment are triggered again, the company will follow the procedures outlined in the prospectus for the convertible bonds [2]

证券代码:002408 证券简称:齐翔腾达 公告编号:2025-060 债券代码:128128 债券简称:齐翔转 2 一、董事会会议召开情况 淄博齐翔腾达化工股份有限公司(以下简称"公司")第六届董事会第二十六次会 议通知于 2025 年 12 月 10 日以电子邮件和专人送达方式向全体董事发出，会议于 2025 年 12 月 10 日以通讯方式召开，应参会董事 9 名，实际参会董事 9 名。会议由董事长 李庆文先生主持，会议的召集、召开程序符合《公司法》和《公司章程》的规定。 二、董事会会议审议情况 审议通过了《关于不向下修正"齐翔转 2"转股价格的议案》 表决结果：9 票同意，0 票反对，0 票弃权，0 票回避 经审议，董事会决定本次不向下修正"齐翔转 2"转股价格，且自本次董事会审 议通过之日次一交易日起未来三个月内（2025 年 12 月 11 日至 2026 年 3 月 10 日）， 如再次触发"齐翔转 2"转股价格向下修正条件，亦不提出向下修正方案。具体内容 详见公司在《证券时报》《证券日报》《上海证券报》《中国证券报》及巨潮资讯网 （www.cninfo.com.cn）上刊登的《关于不向下修正" ...

Core Viewpoint - The company announced that as of December 10, 2025, its stock price has closed below 90% of the current conversion price for at least 10 out of the last 20 trading days, triggering conditions for a downward adjustment of the conversion price for its convertible bonds [1] Group 1 - The company issued a total of 2.99 billion yuan in convertible bonds in August 2020, with an initial conversion price of 8.22 yuan per share [1] - The current conversion price has been adjusted to 5.37 yuan per share after multiple adjustments [1] - The board of directors decided not to adjust the conversion price this time and will not propose an adjustment even if the conditions are triggered again from December 11, 2025, to March 10, 2026 [1] Group 2 - If the adjustment conditions are triggered after March 11, 2026, the company will follow the required procedures and disclose information accordingly [1]

Group 1 - The core point of the article is that Qixiang Tengda (SZ 002408) held its 26th meeting of the sixth board of directors on December 10, 2025, to discuss the proposal regarding not adjusting the conversion price of "Qixiang Convertible Bonds" [1] - For the first half of 2025, Qixiang Tengda's revenue composition is as follows: Chemicals account for 62.6%, Supply Chain for 35.28%, and Other Businesses for 2.12% [1] - As of the time of reporting, Qixiang Tengda has a market capitalization of 13.3 billion yuan [1]

| 证券代码：002408 | 证券简称：齐翔腾达 | 公告编号：2025-061 | | --- | --- | --- | | 债券代码：128128 | 债券简称：齐翔转 2 | | 淄博齐翔腾达化工股份有限公司 关于不向下修正"齐翔转 2"转股价格的公告 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。 特别提示： 1、截至 2025 年 12 月 10 日，淄博齐翔腾达化工股份有限公司（以下简称"公司"） 股价已出现连续 20 个交易日中至少有 10 个交易日的收盘价低于当期转股价格的 90% 的情形，已触发"齐翔转 2"转股价格向下修正条件。 2、公司于 2025 年 12 月 10 日召开第六届董事会第二十六次会议，审议通过了《关 于不向下修正"齐翔转 2"转股价格的议案》，公司董事会决定本次不向下修正"齐 翔转 2"转股价格，且自本次董事会审议通过之日次一交易日起的三个月内（2025 年 12 月 11 日至 2026 年 3 月 10 日），如再次触发"齐翔转 2"转股价格向下修正条件， 亦不提出向下修正方案。自 2026 年 3 月 11 日 ...

Core Viewpoint - The company, Zibo Qixiang Tengda Chemical Co., Ltd., has announced the potential for a downward adjustment of the conversion price for its convertible bonds due to recent stock price performance, which may trigger the conditions for such a revision [2][11]. Group 1: Convertible Bond Issuance and Terms - The company issued 29.9 million convertible bonds with a total value of 299 million yuan, approved by the China Securities Regulatory Commission on August 20, 2020 [3]. - The bonds were listed on the Shenzhen Stock Exchange on September 15, 2020, under the name "Qixiang Zhuang 2" and code "128128" [4]. - The initial conversion price was set at 8.22 yuan per share, which has been adjusted multiple times due to various corporate actions [5][6][8]. Group 2: Conversion Price Adjustment Mechanism - According to the prospectus, the conversion price can be adjusted downward if the company's stock price closes below 90% of the current conversion price for at least ten out of twenty consecutive trading days [9]. - The adjustment requires approval from two-thirds of the voting rights at a shareholders' meeting, excluding those holding the convertible bonds [9]. - The adjusted conversion price must not be lower than the higher of the average stock price over the twenty trading days prior to the shareholders' meeting and the latest audited net asset value per share [9]. Group 3: Recent Stock Performance and Potential Adjustment - From November 27 to December 9, 2025, the company's stock has recorded five trading days where the closing price was below 90% of the current conversion price, indicating a potential trigger for a downward adjustment [11]. - If the conditions for adjustment are met, the company will hold a board meeting to decide on the adjustment and will disclose the decision the following trading day [12].

证券日报网讯 12月9日晚间，齐翔腾达发布公告称，自2025年11月27日至2025年12月9日，公司股票已 有5个交易日收盘价低于当期转股价格的90%，预计将有可能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《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。 （编辑 王雪儿） ...

Core Viewpoint - The company, Qixiang Tengda, has achieved high purity levels in its chemical products, which positions it well for high-end applications in the semiconductor and electronics sectors [1] Group 1: Product Quality - The purity of the company's acetone and methylethyl ketone products reaches 99.99% [1] - The purity of the company's anhydrous tert-butanol is 99.9% [1] - The purity of the company's isopropanol is also 99.9% [1] Group 2: Market Applications - The high purity levels of these products enable them to meet the cleaning and packaging needs of the semiconductor industry [1] - The company aims to enhance its product quality and market competitiveness through ongoing quality improvement efforts and technological breakthroughs [1]

Core Viewpoint - The company is transitioning from producing low-value products to high-value products by manufacturing anhydrous tert-butanol based on its existing tert-butanol facilities, which has significant applications in various high-tech industries [1] Group 1: Product Development - The company is currently producing high-purity anhydrous tert-butanol, which has a wide range of applications including epoxy resin reactive diluents, electronic semiconductor cleaning agents, pharmaceutical intermediates, coatings/inks/agricultural solvent, and bio-based and biodegradable material synthesis [1] - The product has a high technical barrier and added value, indicating a strategic shift towards more profitable offerings [1] Group 2: Market Expansion - The company is actively expanding its customer base in related fields, leveraging its technological advantages of high purity and low metal ion content to enhance the product's application scenarios in the electronic chemicals market [1]