证券代码：300737 证券简称：科顺股份 公告编号：2025-043 债券代码：123216 债券简称：科顺转债 科顺防水科技股份有限公司 （二）募集资金使用和结余情况 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 [注 1]其中公司募集资金专户存放余额 138,428.93 万元（见本专项报告二（二）之说 明），包含用于补充流动资金尚未收回金额 129,130.89 万元；本报告部分合计数折算万元 后与各单项数据之和在尾数上存在差异，系四舍五入所致 [注 2]差异系支付发行费用的税额 根据《上市公司募集资金监管规则》《深圳证券交易所创业板股 票上市规则》《深圳证券交易所上市公司自律监管指引第 2 号——创 业板上市公司规范运作》等监管要求及公司《募集资金管理制度》的 规定，科顺防水科技股份有限公司（以下简称"公司"）编制了 2025 年半年度募集资金存放、管理与使用情况的专项报告，具体情况如下： 一、募集资金基本情况 （一）实际募集资金金额和资金到账时间 根据中国证券监督管理委员会《关于同意科顺防 ...

关于计提信用及资产减值准备的公告 证券代码：300737 证券简称：科顺股份 公告编号：2025-048 债券代码：123216 债券简称：科顺转债 科顺防水科技股份有限公司 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、本次计提信用及资产减值准备情况概述 根据《深圳证券交易所创业板股票上市规则》《深圳证券交易所 上市公司自律监管指引第 2 号——创业板上市公司规范运作》《企业 会计准则第 8 号——资产减值》相关规定，本着谨慎性原则，公司及 下属子公司对截至 2025 年 6 月 30 日的应收账款、应收票据、应收款 项融资、其他应收款、债权投资、预计负债、合同资产、存货、固定 资产、长期股权投资、在建工程、无形资产等资产进行了减值测试， 判断存在可能发生减值的迹象，确定需计提的信用/资产减值准备。 经过测试，公司对可能发生减值的应收账款、应收票据、应收款项融 资、其他应收款、债权投资、预计负债、合同资产、存货、固定资产、 商誉、其他非流动资产等计提了减值准备，具体减值准备明细表如下： 单位：万 ...

证券代码：300737 证券简称：科顺股份 公告编号：2025-046 债券代码：123216 债券简称：科顺转债 科顺防水科技股份有限公司 关于修订《公司章程》及相关治理制度的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 （http://www.cninfo.com.cn）予以披露。 科顺防水科技股份有限公司（以下简称"公司"）于 2025 年 8 月 28 日召开第四届董事会第十六次会议，审议通过了《关于修订〈公 司章程〉及其附件的议案》《关于修订及制定部分公司治理制度的议 案》，其中《关于修订〈公司章程〉及其附件的议案》以及《关于修 订及制定部分公司治理制度的议案》中的部分治理制度尚需提交公司 股东大会审议。现将具体情况公告如下： 一、关于修订《公司章程》及其附件的情况 根据《中华人民共和国公司法》《上市公司章程指引》《深圳证 券交易所股票上市规则》等有关法律、法规和规范性文件的规定，结 合公司实际情况，对《公司章程》及其附件进行修订。《公司章程》 具体的修订内容详见附件（"股东大会"统一 ...

科顺防水科技股份有限公司 2025 年半年度非经营性资金占用及其他关联资金往来情况汇总表 单位：万元 | | | 占用方与公 | 公司核算的 | 2025 年期初占 | 2025 年半年度占用 | 2025 年半年度 | 2025 年半年 | 2025 年半年度 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占用 | 资金占用方名称 | 司的关联关 | 会计科目 | 用资金余额 | 累计发生金额（不 | 占用资金的利 | 度偿还累计 | 占用资金余额 | 占用形成原因 | 占用性质 | | | | 系 | | | 含利息） | 息（如有） | 发生金额 | | | | | 控股股东、实际控制 | | | | | | | | | | | | 人及其附属企业 | | | | | | | | | | | | 小计 | - | - | - | | | | | | | - | | 前控股股东、实际控 | | | | | | | | | | | | 制人及其附属企业 | | | | | | | | | | ...

证券代码：300737 证券简称：科顺股份 公告编号：2025-047 债券代码：123216 债券简称：科顺转债 本次会议为公司 2025 年第一次临时股东大会 （二）召集人 本次股东大会的召集人：公司董事会 科顺防水科技股份有限公司 关于召开2025年第一次临时股东大会的通知 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 各位股东： 兹定于 2025 年 9 月 15 日 14:30 召开科顺防水科技股份有限公司 2025 年第一次临时股东大会，现将有关事项通知如下： 一、会议召开基本情况 （一）股东大会届次 （三）会议召开的合法性、合规性 经公司第四届董事会第十六次会议审议通过，决定召开 2025 年 第一次临时股东大会，本次股东大会的召开符合有关法律、行政法规、 部门规章、规范性文件及《公司章程》的规定。 （四）会议召开日期和时间 现场会议召开时间：2025 年 9 月 15 日 14:30 网络投票日期和时间：通过深圳证券交易所系统进行网络投票的 时间为：2025年9月15日9:15—9:2 ...

科顺防水科技股份有限公司（以下简称"公司"）第四届董事会 第十六次会议于 2025 年 8 月 28 日在公司会议室以现场和通讯方式召 开，会议通知已于 2025 年 8 月 15 日发出。本次会议应出席的董事 7 人，实际出席并参与表决的董事 7 人，会议由董事长陈伟忠先生主持， 公司监事和其他高级管理人员列席了会议。本次会议的召开符合《中 华人民共和国公司法》和《公司章程》的有关规定。 二、会议表决情况 经参会董事审议，依法表决，本次会议审议通过了以下议案： （一）审议通过《关于公司 2025 年半年度报告及摘要的议案》 议案内容： 公司按照《中华人民共和国公司法》《中华人民共和国证券法》 等相关法律规定，根据《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》《深圳证券交易所创业板股票上市 规则》等规范性文件编制了公司 2025 年半年度报告及摘要。经审议， 董事会认为公司的 2025 年半年度报告及摘要真实、准确、完整地反 证券代码：300737 证券简称：科顺股份 公告编号：2025-040 债券代码：123216 债券简称：科顺转债 科顺防水科技股份有限公司 第四届董事会第十 ...

经参会监事审议，依法表决，本次会议审议通过了以下议案： （一）审议通过《关于公司 2025 年半年度报告及摘要的议案》 经审核，监事会认为：公司 2025 年半年度报告及摘要的编制和 审核程序符合法律法规和中国证监会的有关规定，报告内容真实、准 确、完整地反映了公司 2025 年半年度经营的实际情况，不存在任何 虚假记载、误导性陈述或者重大遗漏。具体内容详见公司同日披露于 巨潮资讯网（http://www.cninfo.com.cn）上的相关公告。 证券代码：300737 证券简称：科顺股份 公告编号：2025-041 债券代码：123216 债券简称：科顺转债 科顺防水科技股份有限公司 第四届监事会第七次会议决议公告 本公司及监事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、会议召开情况 科顺防水科技股份有限公司（以下简称"公司"）第四届监事会 第七次会议于 2025 年 8 月 28 日在公司会议室以现场和通讯方式召开， 会议通知已于 2025 年 8 月 15 日发出。本次会议应出席的监事 3 人， 实 ...

Group 1 - The stock price of Keshun Co., Ltd. closed at 5.39 yuan on August 27, down 0.23 yuan, a decrease of 4.09% from the previous trading day [1] - The opening price on that day was 5.61 yuan, with a highest price of 5.61 yuan and a lowest price of 5.39 yuan, with a trading volume of 209,611 hands and a transaction amount of 115 million yuan [1] - On August 27, the net outflow of main funds for Keshun Co., Ltd. was 869,800 yuan, accounting for 0.02% of the circulating market value [1] Group 2 - Keshun Co., Ltd. operates in the decoration and building materials industry, primarily engaged in the research, production, and sales of building waterproof materials [1] - The company's products are widely used in residential construction, infrastructure construction, and industrial buildings [1] - Over the past five trading days, the cumulative net inflow of main funds was 11.42 million yuan, accounting for 0.24% of the circulating market value [1]

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - "Anti - involution" related convertible bonds are cost - effective absolute - return assets. The position and bond selection of "anti - involution" sector convertible bonds are the "decisive factors" for the future market due to three reasons: large capital capacity, high cost - performance of underlying stocks, and low bond prices with debt - bottom value support [1][9]. - Five convertible bonds are recommended: Youfa Convertible Bond, Wankai Convertible Bond, Keshun Convertible Bond, Feng 22 Convertible Bond, and Tian 23 Convertible Bond [3][11]. 3. Summary According to the Directory 3.1 Overall Logic and Layout Ideas - **Large capital capacity**: "Anti - involution" sector has a large number of convertible bonds. Industries such as power equipment and basic chemicals have many convertible bonds in existence. If "anti - involution" progresses beyond expectations, it may drive up the underlying stocks and the convertible bond index [1][9]. - **High cost - performance of underlying stocks**: Some industries' underlying stocks, like those in steel, basic chemicals, and power equipment, are under pressure. But "anti - involution" may improve supply - demand, and the leading enterprises may have stronger profit elasticity after industry clearance. Also, the stock prices are low, so there is potential for valuation repair [2][10]. - **Low bond prices with debt - bottom value support**: Most "anti - involution" related convertible bonds have conversion values below 120 yuan, and many are in the 60 - 90 yuan and 90 - 120 yuan ranges. Debt - type/balanced convertible bonds have better debt - bottom protection, suitable for absolute - return funds [2][10]. 3.2 Individual Bond Selection 3.2.1 Youfa Group/Youfa Convertible Bond - Youfa Group is the largest domestic welded - steel pipe enterprise. In 2025, the welded - pipe price declined. With the improvement of downstream demand and the new supply - side reform in the steel industry, the company plans to expand its domestic and overseas layouts [14][15]. 3.2.2 Wankai New Materials/Wankai Convertible Bond - Wankai New Materials is a leading domestic polyester material enterprise. In 2024, the domestic polyester bottle - chip market had increased production but decreased prices. New applications may bring new demand. Many enterprises in the industry are reducing production, which may optimize the supply - demand pattern and increase the company's profitability [20][23]. 3.2.3 Keshun Co., Ltd./Keshun Convertible Bond - Keshun focuses on building waterproofing solutions. The domestic waterproofing industry is highly fragmented, but the new regulations may benefit leading enterprises. Keshun will expand its retail, non - real - estate, and overseas businesses, and improve profitability through R & D and cost reduction [26][31]. 3.2.4 Xin Fengming/Feng 22 Convertible Bond - Xin Fengming is a major player in the polyester fiber industry. The upstream raw material supply is abundant, which is beneficial for the polyester end. Due to environmental policies and industry integration, some small enterprises are being eliminated, and the industry structure is being optimized [32][33]. 3.2.5 Trina Solar/Tian 23 Convertible Bond - Trina Solar is involved in photovoltaic products, energy storage, and system solutions. The Chinese photovoltaic industry faces challenges, but the "anti - involution" action and policy support may bring price recovery, technology premium, and industry integration, and improve the company's profitability and stock valuation [38][39].

Investment Rating - The report maintains a positive outlook on the building materials sector, highlighting potential opportunities in both "grouping" and "switching" strategies within the industry [2][11]. Core Insights - The building materials market is experiencing a shift in focus, with technology stocks gaining momentum while the building materials sector presents viable options for investment [2]. - The report emphasizes the importance of monitoring production capacity and quality improvements in key segments such as electronic fabrics and Q fabrics, which are expected to see increased demand due to advancements in AI and PCB technologies [3][4]. - The report identifies a growing confidence in infrastructure projects in regions like Xinjiang and Tibet, driven by government investments and the necessity of transportation infrastructure [11][12]. - The consumer building materials segment is showing signs of recovery, with expectations of improved revenue performance as the market stabilizes [24][25]. Summary by Sections Grouping in Building Materials - The electronic fabric sector is expected to maintain its performance, with leading companies like Zhongcai Technology reporting strong sales and production growth [3]. - The AI industry's production expectations are advancing, with key suppliers anticipating increased output of Q fabrics by the end of the year [4]. - The report highlights the importance of monitoring the production capacity and quality of Q fabrics, which will determine the actual supply capabilities of companies [4]. Switching in Building Materials - Infrastructure projects in Xinjiang and Tibet are gaining traction, with significant government backing and a strong demand for cement due to the region's unique geographical advantages [11][12]. - The consumer building materials sector is entering a recovery phase, with sales and construction data indicating a bottoming out of the market [13][14]. - The report notes that the cement industry is poised for potential growth, driven by policy improvements and governance enhancements [15][29]. Cement Industry - The cement sector is entering a peak season, but market performance remains subdued due to high comparative bases from the previous year [29][30]. - The report emphasizes the importance of policy measures to limit overproduction in the cement industry, which could enhance profitability [30][33]. - Companies like Conch Cement and Huaxin Cement are highlighted for their strong cash flow and potential for shareholder returns [34][38]. Glass Industry - The float glass market is experiencing price stabilization, with environmental regulations expected to impact production costs [40][41]. - The report indicates that the glass industry is facing cash flow challenges, with many companies operating at a loss [42]. - Companies like Xinyi Glass are expected to maintain competitive positions despite market pressures, with a focus on improving operational efficiency [43]. Photovoltaic Glass - The photovoltaic glass segment is seeing a decline in inventory levels, with prices remaining stable amid increased demand from downstream component manufacturers [48]. - The report notes that while domestic prices are under pressure, overseas markets are performing better, which could benefit leading companies in the sector [49]. Fiberglass - The fiberglass market is characterized by a divergence in production and sales, with electronic fabrics maintaining a favorable outlook [50].