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 ...

| 证券代码：300243 | 证券简称：瑞丰高材 | 公告编号：2025-032 | | --- | --- | --- | | 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 2024 年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。 公司 2024 年年度权益分派方案已获公司于 2025 年 6 月 6 日召开的 2024 年 度股东大会审议通过，现将权益分派事宜公告如下： 一、股东大会审议通过的利润分配方案情况 1、公司于 2025 年 6 月 6 日召开 2024 年度股东大会，审议通过了《关于公 司 2024 年度利润分配预案的议案》，公司 2024 年年度权益分派方案的具体内容 为：以截至 2025 年 3 月 31 日（以下简称"权益分派基准日"）的总股本 250,426,416 股为基数，向全体股东按每 10 股派发现金股利人民币 0.50 元（含税），合计派 发现金股利 12,521,320.80 元（含税），不送红股，不以资本公积金转增股本。 若在权益分配方案实施前因股权激励、 ...

Group 1 - The core viewpoint of the article highlights the persistent risks in global financial markets despite the U.S. pausing the "reciprocal tariff" policy, with geopolitical tensions, trade fragmentation, and sovereign debt pressures being significant concerns [1][2] - The report from the UK Office for Budget Responsibility warns that public finances remain fragile post-COVID-19, indicating ineffective government spending control [2] - The A-share market has shown an independent trend amidst global financial turmoil, suggesting that market performance is driven by expectations rather than reality, encapsulated in the concept of "dilemma reversal" [4] Group 2 - The essence of expectation difference is rooted in information asymmetry, where understanding the true nature of transactions is crucial to overcoming this challenge [5] - An example of a stock, Zitian Technology, illustrates that despite an initial surge of over 20% in eight trading days, it subsequently faced a significant decline due to lack of institutional participation [7] - In contrast, Ruifeng High Materials demonstrated a strong correlation between institutional inventory data and market performance, with its stock price more than doubling [9] Group 3 - The importance of quantitative data has increased in the context of global financial instability, with the Bank of England planning to release more market position data to aid financial institutions in risk management [11] - Retail investors face challenges primarily due to information asymmetry, and quantitative tools can help mitigate psychological biases that lead to poor investment decisions [11][12] - The article emphasizes the need to identify genuine opportunities within the A-share market despite global uncertainties, with quantitative data serving as a tool to penetrate superficial market appearances [12] Group 4 - The article concludes that while risks persist, they often coexist with opportunities, and utilizing quantitative tools can provide clearer insights into market realities, enabling more rational investment decisions [14]

Core Viewpoint - Shandong Ruifeng High Polymer Materials Co., Ltd. announced the approval of the 2024 profit distribution plan at the 2024 annual shareholders' meeting, which includes a temporary suspension of the conversion of its convertible bonds from July 9, 2025, until the equity registration date for the distribution [1] Group 1: Profit Distribution and Convertible Bonds - The company will implement the 2024 profit distribution according to relevant regulations [1] - The convertible bonds (referred to as "Ruifeng Convertible Bonds," bond code "123126") will suspend conversion during the specified period [1] - Trading of "Ruifeng Convertible Bonds" will continue normally during the suspension period [1] Group 2: Adjustment of Conversion Price - The adjustment of the conversion price for the convertible bonds will occur in the event of stock dividends, capital increases, new share issuances, and cash dividends [2] - The formula for adjusting the conversion price is provided, detailing how various corporate actions will affect the price [2] - The company will announce the adjusted conversion price and the suspension period through designated media [2] Group 3: Protection of Bondholders' Rights - The company will adjust the conversion price to protect the rights and interests of convertible bondholders in case of share buybacks, mergers, or other changes affecting share categories or quantities [3] - Adjustments will be made based on fairness and compliance with relevant laws and regulations [3]

| 证券代码：300243 | 证券简称：瑞丰高材 公告编号：2025-031 | | --- | --- | | 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 关于实施权益分派期间瑞丰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。 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 2024 年年度权益分派股权登记日 设调整前转股价为 Po，每股送股或转增股本率为 N，每股增发新股或配股 率为 K，增发新股价或配股价为 A，每股派发现金股利为 D，调整后转股价为 P （调整值保留小数点后两位，最后一位实行四舍五入），则： 4、恢复转股时间：公司 2024 年年度权益分派股权登记日后的第一个交易日 山东瑞丰高分子材料股份有限公司（以下简称"公司"）于 2025 年 6 月 6 日召开的 2024 年度股东大会审议通过了《关于公司 2024 年度利润分配预案的议 ...