Core Viewpoint - Yunnan Enjie New Materials Co., Ltd. has announced the early redemption of its convertible bonds, "Enjie Convertible Bonds," with specific terms and conditions outlined for bondholders [1][2]. Group 1: Redemption Details - The redemption price for "Enjie Convertible Bonds" is set at 101.44 yuan per bond, including accrued interest at an annual rate of 2.00% [1][2]. - The redemption conditions are met on October 9, 2025, with the redemption registration date on October 30, 2025, and the redemption date on October 31, 2025 [1][2][24]. - The bonds will cease trading on October 28, 2025, and cease conversion on October 31, 2025 [1][2][24]. Group 2: Bond Issuance and Market Performance - The company issued 16 million convertible bonds on February 11, 2020, with a total value of 160 million yuan and a maturity of six years [2][4]. - The initial conversion price was set at 64.61 yuan per share, which has undergone several adjustments due to corporate actions [5][6][8][10]. Group 3: Conditional Redemption Triggers - The conditional redemption clause allows the company to redeem the bonds if the stock price exceeds 130% of the conversion price for at least 15 trading days within a 30-day period [14][16]. - The stock price has met this condition, triggering the early redemption process [16]. Group 4: Redemption Process and Timeline - The company will announce the redemption details daily leading up to the redemption date, ensuring bondholders are informed [24][22]. - The funds for the redemption will be credited to bondholders' accounts by November 7, 2025 [24][21]. Group 5: Additional Information - Bondholders must handle conversion requests through their respective securities firms, with a minimum conversion unit of one bond [26][27]. - The company has confirmed that there were no transactions of "Enjie Convertible Bonds" by major shareholders or executives in the six months prior to the redemption conditions being met [25].

Group 1 - The core point of the announcement is that Enjie Co., Ltd. will forcibly redeem its convertible bonds ("Enjie Convertible Bonds") if they are not converted by the close of trading on October 30, 2025 [2] - After the redemption is completed, the "Enjie Convertible Bonds" will be delisted from the Shenzhen Stock Exchange [2] - Bondholders are advised to lift any pledges or freezes on their "Enjie Convertible Bonds" before the trading suspension date to avoid being forced to redeem due to inability to convert [2]

证券代码：002812 股票简称：恩捷股份 公告编号：2025-168 债券代码：128095 债券简称：恩捷转债 云南恩捷新材料股份有限公司 关于提前赎回"恩捷转债"的第八次提示性公告 （一）可转换公司债券发行情况 经中国证券监督管理委员会"证监许可[2019]2701号"文核准，公司于2020年2 月11日公开发行了1,600.00万张可转换公司债券，每张面值100元，发行总额 160,000.00万元，期限6年。 本公司及全体董事保证本公告内容真实、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、"恩捷转债"赎回价格：101.44 元/张（含当期应计利息，当期年利率为 2.00%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公 司深圳分公司（以下简称"中国结算"）核准的价格为准。 11、根据安排，截至 2025 年 10 月 30 日收市后仍未转股的"恩捷转债"将 被强制赎回。本次赎回完成后，"恩捷转债"将在深圳证券交易所（以下简称 "深交所"）摘牌，特提醒"恩捷转债"持有人注意在限期内转股。"恩捷转 债"持有人持有的"恩捷转债"存在被质押或被冻结的，建议在停止交易 ...

证券日报网讯恩捷股份（002812）10月20日发布公告，在公司回答调研者提问时表示，恩捷拥有湿法和 干法基膜、耐热涂层、粘接涂层以及功能涂层等全系列隔膜技术，特别是湿法技术相关领域有众多领先 行业的技术能力，比如湿法5um高强基膜、大粒径PMMA混涂隔膜、高破膜芳纶隔膜等技术，均已在头 部客户量产，为公司市场份额和产能利用率的提升提供有力支撑。设备&工艺创新方面，在线涂布一体 化技术大量应用以及最新大幅宽高速线的陆续投产，不断提高生产效率。 ...

Core Viewpoint - The company is progressing normally with its diaphragm factory project in the United States, and the recent restrictions on lithium battery material exports have not had a direct impact on its overseas factories [2]. Group 1 - The U.S. diaphragm factory project is currently advancing as planned [2]. - There is no direct impact from the recent export restrictions on lithium battery materials on the company's overseas factories [2].

证券代码：002812 股票简称：恩捷股份 公告编号：2025-167 债券代码：128095 债券简称：恩捷转债 云南恩捷新材料股份有限公司 关于提前赎回"恩捷转债"的第七次提示性公告 本公司及全体董事保证本公告内容真实、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、"恩捷转债"赎回价格：101.44 元/张（含当期应计利息，当期年利率为 2.00%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公 司深圳分公司（以下简称"中国结算"）核准的价格为准。 11、根据安排，截至 2025 年 10 月 30 日收市后仍未转股的"恩捷转债"将 被强制赎回。本次赎回完成后，"恩捷转债"将在深圳证券交易所（以下简称 "深交所"）摘牌，特提醒"恩捷转债"持有人注意在限期内转股。"恩捷转 债"持有人持有的"恩捷转债"存在被质押或被冻结的，建议在停止交易日前 解除质押或冻结，以免出现因无法转股而被强制赎回的情形。 12、风险提示：本次"恩捷转债"赎回价格可能与其停止交易和停止转股 前的市场价格存在较大差异，特提醒持有人注意在限期内转股。投资者如未及 时转股，可能面临损失，敬请投资者注意 ...

Group 1 - The core viewpoint of the article indicates that the overall profitability of the diaphragm industry is currently poor, leading to a slowdown in industry expansion and some small to medium enterprises halting their expansion plans [1] - As a leading company in the diaphragm sector, the company enjoys a strong brand advantage and is recognized by numerous downstream customers, with recent stable growth in customer demand and orders [1] - The company's capacity utilization is currently at a high level, and it aims to ensure stable supply to downstream customers while improving profitability through enhancing product performance and optimizing product structure [1] Group 2 - The pricing of diaphragm products is determined by supply and demand as well as product performance, and the company will strive to meet the demand for high-quality diaphragms in a tight capacity situation [1]

Core Viewpoint - The company emphasizes that while semi-solid batteries share structural similarities with liquid batteries, they still rely on traditional liquid battery components and will not replace liquid batteries in the near future due to performance and cost advantages [1] Company Layout - The company is a pioneer in the research and development of advanced technologies and was among the first to commercialize semi-solid separator materials [1] - In November 2021, the company established Jiangsu Sanhe Battery Materials Technology Co., Ltd. in collaboration with other firms, with the company being the controlling shareholder and leading the R&D and production of semi-solid battery separator materials [1] - The company maintains a strong focus on solid-state battery R&D, having developed capabilities for mass production of lithium sulfide powder and electrolyte powder, with a small-scale annual production capacity already established [1]

Core Insights - The core viewpoint of the article highlights the significant growth of the "Quanguo Xuyuan Three-Year Holding A" fund, which reached a scale of 19.069 billion yuan as of September 30, 2025, marking a quarterly increase of nearly 6 billion yuan, making it the largest among disclosed equity funds for the third quarter [1][2]. Fund Performance - The fund achieved a return of 43.10% over the past six months and 41.61% over the past year, ranking favorably among its peers, with a notable quarterly increase of 45.58% in Q3, outperforming the average of similar products and the CSI 300 index [2]. - Since its inception on October 18, 2022, the fund has delivered a total return of 1.80% and an annualized return of 0.60%, ranking 1980 out of 3209 in its category [4]. Investment Strategy - The fund manager, Zhao Yi, emphasized a "dual-end allocation" strategy to adapt to market changes, focusing on technology AI and sectors in recovery, particularly in new energy (especially the lithium battery supply chain) and military industry [5]. - In the AI sector, the fund is concentrated on three main lines: efficiency-enhancing internet companies like Meta, companies driven by new application scenarios such as Palantir, and cloud service providers like Microsoft [6]. - In the new energy sector, the fund is particularly focused on the lithium battery supply chain, noting a slowdown in fixed asset investment while demand remains high, leading to an improving supply-demand structure [6]. Portfolio Adjustments - The fund's top ten holdings include major companies such as Ningde Times, Tencent Holdings, and Enjie Co., with a total market value exceeding 12.877 billion yuan [9]. - Significant adjustments were made in the portfolio, with a notable reduction of 37.52% in holdings of Keda Li, while new additions included Tianqi Lithium and SMIC, indicating a continued focus on lithium materials and domestic semiconductor sectors [9]. Market Outlook - Zhao Yi expressed optimism about the long-term positive trend of the Chinese equity market, citing signs of easing in U.S. tariff policies and potential liquidity improvements, which could inject more momentum into the A-share market [9].

Core Viewpoint - The company, Enjie Co., Ltd. (002812.SZ), is currently operating at a high capacity utilization rate for its separator production, indicating strong demand and a tight supply situation in the market [1] Group 1: Production and Capacity - The separator products' pricing is determined by supply and demand dynamics, with the company communicating with downstream customers regarding the supply of products that previously experienced significant price reductions [1] - The company is making efforts to ensure stable supply and meet the demand for high-quality separators from downstream customers [1] Group 2: Partnerships - The company maintains deep and friendly cooperative relationships with well-known battery manufacturers both domestically and internationally [1]