Market Overview - The glass and fiberglass sector increased by 1.24% on September 29, with Qibin Group leading the gains [1] - The Shanghai Composite Index closed at 3862.53, up 0.9%, while the Shenzhen Component Index closed at 13479.43, up 2.05% [1] Stock Performance - Qibin Group (601636) closed at 7.04, up 3.23% with a trading volume of 592,100 shares and a turnover of 414 million yuan [1] - Changhai Co., Ltd. (300196) closed at 15.11, up 2.51% with a trading volume of 72,700 shares and a turnover of 109 million yuan [1] - China Jushi (600176) closed at 17.04, up 1.43% with a trading volume of 725,800 shares and a turnover of 1.224 billion yuan [1] - Other notable stocks include Zhongcailiao Technology (002080) at 34.27, up 1.90%, and Jinjing Technology (600586) at 4.99, up 1.01% [1] Capital Flow - The glass and fiberglass sector experienced a net outflow of 145 million yuan from institutional investors, while retail investors saw a net inflow of 232 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are increasing their positions [2] Individual Stock Capital Flow - Zhongcailiao Technology (002080) had a net outflow of 37.61 million yuan from institutional investors, while retail investors contributed a net inflow of 1.24 million yuan [3] - Jinjing Technology (600586) saw a net inflow of 11.07 million yuan from institutional investors, but retail investors had a net outflow of 0.45 million yuan [3] - North Glass Co., Ltd. (002613) experienced a net outflow of 3.61 million yuan from institutional investors, with retail investors contributing a net inflow of 2.36 million yuan [3]

Market Overview - On September 24, the glass and fiberglass sector declined by 1.93%, with Honghe Technology leading the drop [1] - The Shanghai Composite Index closed at 3853.64, up 0.83%, while the Shenzhen Component Index closed at 13356.14, up 1.8% [1] Stock Performance - Key stocks in the glass and fiberglass sector showed varied performance, with Jin Jing Technology rising by 4.86% to a closing price of 5.18, and Honghe Technology falling by 6.47% to 36.01 [1][2] - The trading volume and turnover for major stocks included: - Jin Jing Technology: 602,000 shares, turnover of 306 million yuan - Qi Bin Group: 361,400 shares, turnover of 236 million yuan - Shandong Pofiber: 126,800 shares, turnover of 100 million yuan [1][2] Capital Flow - The glass and fiberglass sector experienced a net outflow of 138 million yuan from institutional investors and 174 million yuan from retail investors, while individual investors saw a net inflow of 312 million yuan [2] - Detailed capital flow for selected stocks included: - Jin Jing Technology: 77.61 million yuan net inflow from institutional investors - Qi Bin Group: 48.32 million yuan net inflow from institutional investors [3] Summary of Individual Stock Flows - Jin Jing Technology had a significant institutional net inflow of 77.61 million yuan, while retail investors showed a net outflow of 60.91 million yuan [3] - Qi Bin Group also saw a net inflow from institutional investors of 48.32 million yuan, with retail investors experiencing a net outflow of 28.91 million yuan [3]

重要内容提示 1、债券代码：123091；债券简称：长海转债 | 证券代码：300196 | 证券简称：长海股份 | 公告编号：2025-068 | | --- | --- | --- | | 债券代码：123091 | 债券简称：长海转债 | | 江苏长海复合材料股份有限公司 关于长海转债恢复转股的提示性公告 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。 2、转股起止日期：2021 年 6 月 29 日至 2026 年 12 月 22 日 3、暂停转股日期：2025 年 9 月 18 日至 2025 年 9 月 25 日 4、恢复转股日期：2025 年 9 月 26 日 江苏长海复合材料股份有限公司（以下简称"公司"）因实施 2025 年半年度权 益分派，根据公司《创业板向不特定对象发行可转换公司债券募集说明书》及《深 圳证券交易所上市公司自律监管指南第 1 号——业务办理》的相关规定，公司可 转换公司债券（债券代码：123091； 债券简称：长海转债）自 2025 年 9 月 18 日（星期四）起至 2025 年半年度权益分派股权登记日（2025 年 9 ...

Investment Rating - The investment rating for the building materials industry is "Positive" (maintained) [1] Core Viewpoints - The building materials sector is driven by dual forces of policy and demand, with a focus on high-performance new materials supporting green construction and renovation [3] - The new materials industry in China is expected to grow from a value of 6.8 trillion yuan in 2022 to 10 trillion yuan by 2025, with 30 sub-industries transitioning to high value-added products [3] - The report highlights specific companies to invest in, including Sankeshu (channel expansion), Dongfang Yuhong (waterproofing leader), Weixing New Materials (high-quality operations), and Jianlang Hardware [3] - The cement sector is expected to benefit from energy-saving and carbon reduction initiatives, with a target to control cement clinker capacity at around 1.8 billion tons by the end of 2025 [3] Market Performance - The building materials index increased by 0.43% in the week from September 15 to September 19, outperforming the CSI 300 index by 0.88 percentage points [4][13] - Over the past three months, the building materials index has risen by 19.82%, while the CSI 300 index has increased by 14.18%, indicating a 5.64 percentage point outperformance [4][13] - In the past year, the building materials index has grown by 43.00%, compared to a 34.31% increase in the CSI 300 index, resulting in an 8.69 percentage point outperformance [4][13] Cement Sector Insights - As of September 19, the average price of P.O42.5 bulk cement in China was 279.00 yuan/ton, reflecting a 1.44% increase from the previous period [6][24] - The clinker inventory ratio reached 65.11%, up by 2.52 percentage points [6][24] - Regional price variations were noted, with increases in East China (+2.04%) and South China (+1.72%), while North China saw a decrease of 1.01% [24] Glass Sector Insights - The average price of float glass as of September 19 was 1208.98 yuan/ton, with a slight increase of 0.55% [6][76] - The inventory of float glass decreased by 29,000 weight boxes, a decline of 0.53% [6][78] - The price of photovoltaic glass remained stable at 125.00 yuan/weight box [6][80] Fiberglass Sector Insights - The price of non-alkali 2400tex direct yarn ranged from 3400 to 4000 yuan/ton, with variations based on specific product types [6][5] - The market for fiberglass is showing stability, with flexible pricing strategies being employed by some manufacturers [6][5] Consumer Building Materials Insights - As of September 19, the price of asphalt was stable at 4570 yuan/ton, while the price of titanium dioxide decreased by 0.38% to 13000 yuan/ton [6][5] - The report indicates that raw material prices for consumer building materials are experiencing slight fluctuations [6][5]

Group 1 - The company announced a cash dividend distribution plan for the first half of 2025, proposing to distribute 1 RMB per 10 shares to all shareholders, including tax [2] - The record date for the dividend distribution is set for September 25, 2025, while the ex-dividend date is September 26, 2025 [2]

| 证券代码：300196 | 证券简称：长海股份 | 公告编号：2025-067 | | --- | --- | --- | | 债券代码：123091 | 债券简称：长海转债 | | 江苏长海复合材料股份有限公司 关于可转换公司债券转股价格调整的公告 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： 一、关于可转换公司债券转股价格调整的相关规定 江苏长海复合材料股份有限公司（以下简称"公司"）于 2020 年 12 月 23 日向 不特定对象发行可转换公司债券（债券简称：长海转债，债券代码：123091）550 万张并于 2021 年 1 月 15 日上市。根据《江苏长海复合材料股份有限公司创业板 向不特定对象发行可转换公司债券募集说明书》（以下简称"募集说明书"）及 中国证券监督管理委员会关于可转换公司债券发行的有关规定，当公司发生派送 红股、转增股本、增发新股（不包括因本次发行的可转换公司债券转股而增加的 股本）、配股以及派发现金股利等情况时，公司将按上述条件出现的先后顺序， 依次对转股价格进行累积调整，具体调整办法如下： 设调整前转股价为 ...

证券代码：300196 证券简称：长海股份 公告编号：2025-066 债券代码：123091 债券简称：长海转债 江苏长海复合材料股份有限公司 2025年半年度权益分派实施公告 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： 1、本次权益分派期间，江苏长海复合材料股份有限公司（以下简称"公司"） 可转换公司债券（债券简称：长海转债，债券代码：123091）已暂停转股，截至本 公告披露日，公司总股本为408,716,884股。 2、公司回购专用证券账户中的股份不参与本次权益分派。公司2025年半年度权 益分派方案为：以公司现有总股本408,716,884股剔除已回购股份5,190,199股后的 403,526,685股为基数，向全体股东每10股派发现金红利人民币1.00元（含税），实际 现金分红总额为人民币40,352,668.50元（含税）。 3、本次权益分派实施后计算除权除息价格时，按公司总股本（含回购专用证券 账户持有股份）折算每股现金分红（含税）=实际现金分红总额/总股本（含回购专用 证券账户持有股份）=40,352,668.50元/408 ...

Group 1 - The company Longhai Co., Ltd. confirmed on September 18 that its fiberglass products, including thermoplastic short-cut fibers, short-cut mats, and fiberglass yarns, are widely used as reinforcement materials in the automotive sector [1] - The company indicated that its products extend to downstream processes involving multiple industries, which entails several processing stages before reaching the end products [1]

Group 1 - The company announced that from September 18, 2025, until the equity registration date for the semi-annual dividend distribution, the convertible bonds (code: 123091; abbreviation: Changhai Convertible Bonds) will be suspended from conversion [2] - The conversion of the bonds will resume on the first trading day after the equity registration date for the semi-annual dividend distribution [2]

| 证券代码：300196 | 证券简称：长海股份 | 公告编号：2025-065 | | --- | --- | --- | | 债券代码：123091 | 债券简称：长海转债 | | 在上述暂停转股期间，公司可转换公司债券正常交易，敬请"长海转债"债券持有人留 意。 江苏长海复合材料股份有限公司 关于"长海转债"暂停转股的提示性公告 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。 重要内容提示 江苏长海复合材料股份有限公司（以下简称"公司"）于 2025 年 9 月 12 日召开 2025 年 第二次临时股东会，审议通过了《关于 2025 年半年度利润分配预案的议案》，公司将于近 日实施 2025 年半年度权益分派。根据公司《创业板向不特定对象发行可转换公司债券募集 说明书》中关于"转股价格的调整方式及计算公式"条款的规定（详见附件），自 2025 年 9 月 18 日（星期四）起至 2025 年半年度权益分派股权登记日止，公司可转换公司债券（债 券代码：123091；债券简称：长海转债）将暂停转股，2025 年半年度权益分派股权登记日 后的第一个交易日起 ...