Group 1 - The company, Ruifeng High Materials, expects to complete the technical transformation of the PETG project in the third quarter of this year [2] - After the completion of the technical transformation, the facility will be capable of producing biodegradable materials PBAT, polyester materials PETG, and PBT simultaneously [2]

Group 1 - The company is actively advancing the construction of a ton-level pilot test facility for black phosphorus, which is a key material for solid-state battery localization [2] - The company is also engaging with downstream application partners across various fields, including new energy and flame retardants [2] - Investors are encouraged to monitor the company's announcements for specific business progress updates [2]

Group 1 - The company has successfully stabilized its 100-kilogram black phosphorus pilot production facility, producing black phosphorus materials that meet quality requirements [2] - The company is currently constructing a ton-level pilot production facility to further scale up black phosphorus production [2] - The company is actively engaging with downstream application partners as it expands its black phosphorus production capabilities [2]

Core Viewpoint - The company is actively working on the construction of its black phosphorus production line, with expectations to complete the pilot plant by the third quarter of this year [2]. Group 1 - The company's subsidiary, Ruifeng Yuanneng, is responsible for the construction of the ton-level pilot facility [2]. - The completion of the black phosphorus production line is anticipated in the third quarter of this year [2]. - The company has received inquiries regarding the differences between its black phosphorus production setup and those of competitors [2].

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。 一、基本情况 近日，山东省工业和信息化厅官网发布了《关于公布 2025 年山东省先进级 （省级）智能工厂、智能制造优秀场景名单的通知》（鲁工信装〔2025〕116 号）， 为落实工信部等六部门《智能工厂梯度培育行动实施方案》和省政府《关于推动 传统产业优化升级培育发展新质生产力的实施方案》有关要求，分层分级系统性、 规模化推进山东省智能工厂培育建设，山东省工信厅开展了 2025 年山东省先进 级（省级）智能工厂、智能制造优秀场景评定工作。经企业申报、地市推荐、专 家评审、社会公示等程序，确定了先进级（省级）智能工厂、省级智能制造优秀 场景名单。根据《名单》，山东瑞丰高分子材料股份有限公司（以下简称"公司"） 被认定为"山东省先进级（省级）智能工厂"。 | 证券代码：300243 | 证券简称：瑞丰高材 公告编号：2025-035 | | --- | --- | | 债券代码：123126 | 债券简称：瑞丰转债 | 山东瑞丰高分子材料股份有限公司 关于荣获省级智能工厂的公告 本次认定结果，是对公司智能化改造成果的 ...

Core Insights - Recent news highlights that foreign asset management companies, specifically 法巴农银 and 贝莱德, have surpassed a management scale of 500 billion [1][3] - These foreign institutions are significantly impacting the domestic wealth management market by focusing on fixed income and retirement planning [3][4] Group 1: Market Dynamics - Foreign institutions are likened to "crocodiles" disrupting the previously calm wealth management market, leveraging their global investment strategies [3] - The financial market is fundamentally a game of liquidity, with foreign firms easily accessing high-yield opportunities while domestic investors struggle [4] Group 2: Data Utilization - The use of big data tools reveals that institutional investors often exit positions before significant downturns, as seen with the stock 紫天科技 [5][7] - In contrast, stocks like 瑞丰高材 show strong institutional support throughout their price increases, indicating the importance of following money flows rather than speculation [7] Group 3: Investment Strategies - Foreign firms emphasize quantitative thinking and diversified asset allocation, which allows them to navigate the market effectively [9] - The article suggests that retail investors should adopt tools to visualize market trends and institutional movements, moving away from traditional speculation [10]

特别提示： 1、债券代码：123126 债券简称：瑞丰转债 2、转股起止时间：2022 年 3 月 16 日至 2027 年 9 月 9 日 3、暂停转股时间：2025 年 7 月 9 日至 2025 年 7 月 17 日 | 证券代码：300243 | 证券简称：瑞丰高材 公告编号：2025-034 | | --- | --- | | 债券代码：123126 | 债券简称：瑞丰转债 | 山东瑞丰高分子材料股份有限公司 关于瑞丰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。 4、恢复转股时间：2025 年 7 月 18 日 2025 年 7 月 17 日 1 山东瑞丰高分子材料股份有限公司（以下简称"公司"）因实施 2024 年年度 权益分派，根据《山东瑞丰高分子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》及相关规定，公司可转换公司债券（债券简称：瑞丰 转债，债券代码：123126）自 2025 年 7 月 9 日起暂停转股。具体内容详见公司 于 2025 年 7 月 8 日在巨潮资讯网披露的《关于实施权益分派期 ...

Core Viewpoint - 瑞丰高材 has experienced significant fluctuations in its market performance since its IPO in July 2011, with a notable decline in profitability in recent years [1][3]. Business Overview - 瑞丰高材's main business includes the research, production, and sales of ACR processing aids, ACR impact modifiers, and MBS impact modifiers. The core products are primarily ACR aids, accounting for 47.13% of revenue, followed by MBS impact modifiers at 37.49% [3]. Financial Performance - In 2011, the company achieved a net profit attributable to shareholders of 0.39 billion yuan, which decreased to 0.22 billion yuan by the latest complete fiscal year of 2024, representing a cumulative profit decline of 43.49%. Over the 14 years since its listing, the company has not reported any annual losses, with 7 years of profit growth, accounting for 50.0% of the time [3]. - Revenue analysis shows that 瑞丰高材 generated 1.302 billion yuan in revenue in 2020, increasing to 2.001 billion yuan in 2024. Although revenue has shown an overall growth trend over the past five years, the growth rate has been volatile [3]. - Profit analysis indicates that the net profit attributable to shareholders was 0.85 billion yuan in 2020, dropping to 0.22 billion yuan in 2024, highlighting a continuous pressure on profitability and a significant decline in profit levels [3]. Market Capitalization - The peak market capitalization of 瑞丰高材 reached 7.034 billion yuan on June 4, 2015, with the stock price rising to 34.0 yuan. As of July 11, the stock price was 10.76 yuan, with a market capitalization of 2.695 billion yuan, reflecting a decrease of 4.339 billion yuan in market value, or a 61.69% evaporation from its peak [5].

Core Viewpoint - The company has announced an adjustment to the conversion price of its convertible bonds, reducing it from 11.69 CNY per share to 11.64 CNY per share, effective from July 18, 2025 [1][5]. Group 1: Convertible Bond Issuance and Adjustments - The company issued convertible bonds totaling 340 million CNY on September 10, 2021, with a net fundraising amount of approximately 333.45 million CNY after deducting issuance costs [1]. - The initial conversion price of the bonds was set at 17.80 CNY per share, which has undergone several adjustments due to various corporate actions [3][4]. - The conversion price has been adjusted multiple times, with the most recent adjustment resulting in a price of 11.64 CNY per share, effective from July 18, 2025 [5]. Group 2: Dividend Distribution and Impact on Conversion Price - The company plans to distribute a cash dividend of 0.50 CNY per 10 shares, totaling approximately 125 million CNY, based on a total share capital of 250,426,416 shares as of March 31, 2025 [4][5]. - Due to the conversion of bonds, the total share capital increased slightly, leading to a recalibration of the dividend distribution to approximately 0.499999 CNY per 10 shares [5]. - The adjustment in the conversion price is calculated based on the cash dividend distribution, resulting in the new conversion price of 11.64 CNY per share [5].

| 证券代码：300243 | 证券简称：瑞丰高材 公告编号：2025-033 | | --- | --- | | 债券代码：123126 | 债券简称：瑞丰转债 | 山东瑞丰高分子材料股份有限公司 特别提示： 债券代码：123126 债券简称：瑞丰转债 调整前转股价格：11.69 元/股 调整后转股价格：11.64 元/股 转股价格调整生效日：2025 年 7 月 18 日 一、关于可转换公司债券转股价格调整的相关规定 经中国证券监督管理委员会（以下简称"中国证监会"）出具的《关于同意 山东瑞丰高分子材料股份有限公司向不特定对象发行可转换公司债券注册的批 复》（证监许可〔2021〕659 号）同意注册，山东瑞丰高分子材料股份有限公司 （以下简称"公司"）于 2021 年 9 月 10 日向不特定对象发行可转换公司债券 3,400,000 张，每张面值为人民币 100 元，按面值发行，共计募集资金总额为人 民币 340,000,000.00 元，扣除发行费用 6,551,669.81 元（不含税），实际募集资 金净额为 333,448,330.19 元。经深圳证券交易所（以下简称"深交所"）同意， 公司可转换 ...