Investment Rating - The report assigns an "Accumulate" rating for the basic chemical industry [2] Core Insights - The report highlights the upward trend in the prices of storage chips (DRAM), which benefits upstream semiconductor materials [4] - It notes significant profit growth for New Yangfeng, with a year-on-year increase of 23.87% in net profit excluding non-recurring items [4] - Strategic collaborations, such as the one between Boyuan Co. and Dingsheng Technology, are aimed at overcoming key material bottlenecks in solid-state batteries [4] Summary by Sections Investment Recommendations - Focus on convertible bonds in the basic chemical sector, including Zhaobang Convertible Bond, Yangfeng Convertible Bond, and others [4] Market Performance - The report reviews the performance of issued convertible bonds in the basic chemical sector from December 19 to December 26, 2025, noting increases of 14.32% for Kaisheng Convertible Bond, 13.93% for Songlin Convertible Bond, and 12.31% for Zhenhua Convertible Bond, while Su Li, Qilin, and Kesi Convertible Bonds saw declines of 2.77%, 1.79%, and 0.42% respectively [5][6] Upcoming Convertible Bonds - As of December 26, 2025, several companies, including Jiangshan Co., Shuangle Co., and others, have received shareholder approval for their convertible bond proposals [4][12]

Core Viewpoint - The logistics sector experienced a slight increase of 0.04% on December 30, with ST Xuefa leading the gains, while the overall market showed mixed results with the Shanghai Composite Index closing at 3965.12, down 0.0% [1]. Group 1: Market Performance - The logistics sector's performance was highlighted by ST Xuefa, which closed at 4.31 with a gain of 5.12% [1]. - Other notable gainers included *ST Haijin, which rose by 3.34% to 8.35, and Changlian Co., which increased by 2.33% to 10.56 [1]. - The Shenzhen Component Index closed at 13604.07, reflecting an increase of 0.49% [1]. Group 2: Trading Volume and Value - ST Xuefa had a trading volume of 39,600 shares and a transaction value of approximately 16.80 million [1]. - The highest transaction value in the logistics sector was recorded by Donghang Logistics, with a closing price of 18.27 and a transaction value of 181 million [1]. - The overall trading volume and value for the logistics sector showed varied performance across different stocks, with some stocks like Baoshui Technology and Donghang Logistics achieving significant transaction values [1]. Group 3: Capital Flow - The logistics sector saw a net outflow of 531 million from institutional investors, while retail investors contributed a net inflow of 507 million [2]. - The data indicates that retail investors were more active in the logistics sector, contrasting with the outflow from institutional investors [2]. - Specific stocks like YTO Express and Baoshui Technology experienced varying levels of net inflow and outflow from different investor categories [3].

证券日报网讯12月30日，宏川智慧（002930）在互动平台回答投资者提问时表示，目前宏川智算尚处于 业务开展初期阶段，关于宏川智算运营进展情况请关注公司后续公告。 ...

Group 1 - The company held its 12th extraordinary general meeting on December 29, 2025, with no proposals being rejected [2] - The meeting was attended by 91 shareholders and representatives, representing 231,273,650 shares, which is 50.5527% of the total voting shares [5] - The meeting approved a proposal to lower the conversion price of "Hongchuan Convertible Bonds" from RMB 18.56 per share to RMB 14.00 per share, with 98.5851% of the votes in favor [8][9] Group 2 - The board of directors convened the 24th meeting on December 29, 2025, where all 7 directors participated, and the meeting complied with relevant laws and regulations [15] - The board approved the proposal to lower the conversion price of "Hongchuan Convertible Bonds" [16] - The adjustment of the conversion price is effective from December 30, 2025 [51] Group 3 - The company issued 6.7 million convertible bonds at a total value of RMB 67 million, with the initial conversion price set at RMB 20.25 per share [28] - The conversion price has been adjusted multiple times due to various corporate actions, with the latest adjustment being to RMB 14.00 per share [51][52]

证券日报网讯 12月29日，宏川智慧发布公告称，公司董事会审议通过，聘任李小力先生为新任轮值总 裁，预计当值期间自2026年1月1日起一年；黄韵涛先生任期届满后离任，仍留任董事及董事会专门委员 会职务。 （文章来源：证券日报） ...

Core Viewpoint - Hongchuan Wisdom announced the convening of the 12th extraordinary shareholders' meeting on December 29, 2025, to review the proposal to lower the conversion price of "Hongchuan Convertible Bonds" [2] Group 1 - The company will hold the extraordinary shareholders' meeting to discuss the adjustment of the conversion price [2] - The meeting is scheduled for December 29, 2025 [2] - The proposal is initiated by the board of directors [2]

证券日报网讯12月29日，宏川智慧（002930）发布公告称，公司将于2026年1月15日15：30召开2026年 第一次临时股东大会，审议《关于变更公司英文名称暨修订 <公司章程> 及其附件的议案》，会议采取 现场与网络投票结合方式。 ...

| 证券代码：002930 | 证券简称：宏川智慧 | 公告编号：2025-174 | | --- | --- | --- | | 债券代码：128121 | 债券简称：宏川转债 | | 广东宏川智慧物流股份有限公司 关于向下修正"宏川转债"转股价格的公告 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。 特别提示： | | | 债券代码：128121 债券简称：宏川转债 修正前转股价格：人民币 18.56 元/股 修正后转股价格：人民币 14.00 元/股 修正后转股价格生效日期：2025 年 12 月 30 日 转股期限：2021 年 1 月 25 日至 2026 年 7 月 16 日 广东宏川智慧物流股份有限公司（以下简称"公司"）于 2025 年 12 月 29 日召开第四届董事会第二十四次会议，审议通过了《关于 向下修正"宏川转债"转股价格的议案》，现将相关事项公告如下： 一、可转换公司债券发行上市概况 1、可转换公司债券发行情况 经中国证券监督管理委员会《关于核准广东宏川智慧物流股份有 1 / 19 限公司公开发行可转换公司债券的批复》（证监许可〔2 ...

广东宏川智慧物流股份有限公司董事会议事规则 （二）执行股东会的决议； 广东宏川智慧物流股份有限公司 董事会议事规则 第一章 总则 第一条 为了进一步规范广东宏川智慧物流股份有限公司（以下简称"公 司"）董事会的议事方式和决策程序，促使董事和董事会有效地履行其职责， 提高董事会规范运作和科学决策水平，根据《中华人民共和国公司法》、《中 华人民共和国证券法》、《上市公司治理准则》、《深圳证券交易所股票上市规 则》（以下简称"《股票上市规则》"）、《深圳证券交易所上市公司自律监管指 引第 1 号—主板上市公司规范运作》和《广东宏川智慧物流股份有限公司章 程》（以下简称"《公司章程》"）等有关规定，特制订本规则。 第二章 董事会的组成与职权 第二条 公司董事会由 9 名董事组成，其中，独立董事 4 名；设董事长 1 名，副董事长 1 名。 董事会成员包括职工代表担任的董事一名，经由职工代表大会、职工大会或 其他形式的民主选举产生，无需提交股东会审议。 第三条 董事会行使下列职权： （一）召集股东会，并向股东会报告工作； （五）制订公司增加或者减少注册资本、发行债券或其他证券及上市方 案； （六）拟订公司重大收购、收购 ...

广东宏川智慧物流股份有限公司股东会议事规则 广东宏川智慧物流股份有限公司 股东会议事规则 第一章 总 则 第一条 为促使广东宏川智慧物流股份有限公司（以下简称"公司"）股东 会会议的顺利进行，规范股东会的组织和行为，提高股东会议事效率，保障股东 合法权益，保证股东会能够依法行使职权及其程序和决议内容有效、合法，根据 《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》 （以下简称"《证券法》"）、《上市公司治理准则》《上市公司股东会规则》《深圳 证券交易所股票上市规则》《深圳证券交易所上市公司自律监管指引第 1 号—主 板上市公司规范运作》及《广东宏川智慧物流股份有限公司章程》（以下简称"《公 司章程》"）等规定，制订本规则。 第二条 公司应当严格按照法律、行政法规、《公司章程》及本规则的相关 规定召开股东会，保证股东能够依法行使权利。 公司董事会应当切实履行职责，认真、按时组织股东会。公司全体董事应当 勤勉尽责，确保股东会正常召开和依法行使职权。 第三条 股东会应当在《公司法》和《公司章程》规定的范围内行使职权。 公司不得通过授权的形式由董事会或者其他机构和个人代为行使股东会的法定 ...