| 证券代码：300798 | 证券简称：锦鸡股份 公告编号：2025-064 | | --- | --- | | 债券代码：123129 | 债券简称：锦鸡转债 | 江苏锦鸡实业股份有限公司 2024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： 江苏锦鸡实业股份有限公司（以下简称"公司"）本次权益分派方案为：以 公司现有总股本 468,840,951 股为基数，向全体股东每 10 股派发现金红利 0.10 元（含税），送红股 0 股（含税），资本公积金转增股本 0 股（含税）。 2024 年度权益分派实施后的除权除息价格按照上述原则及计算方式执行， 即本次权益分派实施后的除权除息价格=股权登记日收盘价-0.01 元/股。 二、本次权益分派方案 本公司 2024 年年度权益分派方案为：以公司现有总股本 468,840,951 股为 基数，向全体股东每 10 股派 0.100000 元人民币现金（含税；扣税后，通过深股 通持有股份的香港市场投资者、境外机构（含 QFII、RQFII）以及持有首发前限 售股的个人和证券投资基金每 ...

Core Viewpoint - The price of H acid has significantly increased, leading dye companies to cautiously manage their production capacity [1] Company Summaries - Jinji Co. has not yet started trial production of its 8000 tons capacity for H acid [1] - Runtou Co. and Jihua Group have their H acid facilities currently in a state of suspension [1] - Zhejiang Longsheng has some facilities in trial production [1] Industry Insights - Recent data indicates that H acid prices have surpassed 44,000 yuan per ton, reflecting an increase of 8,000 yuan per ton since the beginning of the year [1]

| 证券代码：300798 | 证券简称：锦鸡股份 | 公告编号：2025-063 | | --- | --- | --- | | 债券代码：123129 | 债券简称：锦鸡转债 | | 江苏锦鸡实业股份有限公司 关于锦鸡转债2025年第二季度转股情况的公告 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： 1.债券代码：123129；债券简称：锦鸡转债 2.证券代码：300798；证券简称：锦鸡股份 3.转股日期：2022 年 05 月 10 日-2027 年 11 月 03 日 4.当前转股价格：7.93 元/股 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 15 号——可转换公司债券》的有关规定，江苏锦鸡实业股份有限 公司（以下简称"公司"）现将 2025 年第二季度可转换公司债券（以下简称"可 转债"或"锦鸡转债"）转股及公司股份变动情况公告如下： 一、可转债发行上市概况 （一）可转债发行情况 经中国证券监督管理委员会证监许可[2021]2968 号文核准同意注册，公司 于 2021 年 11 月 04 日 ...

| 证券代码:300798 | 证券简称:锦鸡股份 | 公告编号:2025-062 | | --- | --- | --- | | 债券代码:123129 | 债券简称:锦鸡转债 | | 江苏锦鸡实业股份有限公司 关于可转债预计触发赎回条件的提示性公告 本公司及董事会全体成员保证信息披露内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 自 2025 年 06 月 10 日至 2025 年 06 月 30 日，江苏锦鸡实业股份有限公司 （以下简称"公司"）的股票已有 14 个交易日的收盘价格不低于可转换公司债券 （债券简称"锦鸡转债"，债券代码："123129"）当期转股价格的 120%（含 120%， 暨 7.93 元/股*120%=9.52 元/股）。 （二）可转债上市情况 本次发行的可转换公司债券于 2021 年 11 月 24 日起在深圳证券交易所挂牌 交易，债券简称"锦鸡转债"，债券代码"123129"。 （三）可转债转股期限 可转债期限为 2022 年 05 月 10 日至 2027 年 11 月 03 日。 若在未来触发可转债的有条件赎回条款，即在本次发行的可转换公司债券转 股期内，如 ...

| 证券代码：300798 | 证券简称：锦鸡股份 公告编号：2025-061 | | --- | --- | | 债券代码：123129 | 债券简称：锦鸡转债 | 2025 年 02 月 09 日，江苏锦鸡实业股份有限公司（以下简称"公司"）召开 第三届董事会第二十一次会议，审议通过了《关于 2025 年度预计为全资子公司 提供担保额度的议案》。2025 年 02 月 25 日，根据《深圳证券交易所创业板股 票上市规则》及《公司章程》等规定，公司召开 2025 年第一次临时股东会，对 董事会提出的上述议案进行审议，同意 2025 年度预计为全资子公司（包括合并 报表范围内公司相互之间）向商业银行或其他金融机构申请综合授信、融资租赁 等业务提供担保，累计提供担保额度为人民币壹拾陆亿元整（包含本数），担保 方式包括保证担保、抵押担保等。在累计担保额度范围内，并授权经营层签署具 体担保协议及相关法律文件，决议授权期限自本议案通过股东会审议之日起 12 个月。 近日，公司与相关方签署相关担保合同，现将担保进展情况公告如下： 一、担保进展情况 2025 年 06 月 26 日，公司与杭州银行股份有限公司南京分行（以 ...

Group 1: REITs Market Overview - The REITs index continues to rise, with property types showing strength this week, indicating a recovery in market activity [2][3] - As of June 13, 2025, the total market value of REITs reached 204.08 billion yuan, an increase of 2.01 billion yuan from the previous week [3][4] - The average weekly increase for property-type REITs was 0.95%, outperforming other categories [4] Group 2: H Acid Market Dynamics - The average market price of H acid as of June 13, 2025, was 41,750 yuan per ton, up 5,750 yuan per ton since early January 2025 [6][7] - Supply-demand tightness is expected to push H acid prices higher, with effective domestic production capacity currently below 60,000 tons, leading to a supply gap of over 10% [8][9] - Companies with integrated production capacity for H acid and reactive dyes, such as Zhejiang Longsheng and Jinchicken Co., are expected to benefit from rising prices [9][10] Group 3: North Exchange Market Insights - As of June 13, 2025, the North Exchange A-share component stocks totaled 267, with an average market capitalization of 3.046 billion yuan [11] - The North Exchange 50 index experienced a decline of 3.11%, while the average daily trading volume increased by 31.28% compared to the previous week [11][12] - The newly listed company, Jiao Da Tie Fa, focuses on intelligent products and services for rail transit, with projected revenue of 335 million yuan for 2024 [12] Group 4: AI Chip Design System Launch - The world's first AI-based chip design system, "Enlightenment," was launched, achieving full automation in chip design processes [14][16] - The system can design a 32-bit RISC-V CPU in just five hours, matching the performance of Intel 486, and has completed its first silicon [16] - This innovation is expected to significantly enhance the efficiency of chip design and development in the semiconductor industry [16] Group 5: New Materials Industry Outlook - The new materials sector is anticipated to enter a growth phase driven by increasing downstream demand and supportive policies [14][25] - Key areas of focus include semiconductor materials, renewable energy technologies, and biodegradable plastics, which are expected to see significant investment and development [19][23] - The industry maintains a "recommended" rating due to its potential for growth and innovation [25]

Group 1 - The core point of the article is that Zhuhai Dajing, a shareholder of Jinjiji Co., plans to reduce its stake by 1.50% after the expiration of the reduction period [1] - Zhuhai Dajing holds 5.72% of Jinjiji Co. and has already reduced its holdings by 702.49 million shares, which represents 1.50% of the total share capital [1] - After the reduction, Zhuhai Dajing's shareholding will decrease to 4.22% [1] Group 2 - The reduction will take place through block trading and centralized bidding within three months after the announcement, which was made 15 trading days prior [1] - The reduction complies with relevant laws and regulations as well as the reduction commitment made by the shareholder [1]

| 证券代码:300798 | 证券简称:锦鸡股份 公告编号:2025-060 | | --- | --- | | 债券代码:123129 | 债券简称:锦鸡转债 | 持有公司股份 26,810,407 股（占公司总股本比例 5.72%）的大股东湖南臻 泰股权投资管理合伙企业（有限合伙）-珠海大靖臻泰化工投资企业（有限合伙） （以下简称"珠海大靖"）计划在本公告披露之日起 15 个交易日后的 3 个月内 以大宗交易和集中竞价方式减持本公司股份 7,030,000 股（占本公司总股本比例 1.50%）。 公司近日收到持股 5%以上股东珠海大靖出具的关于减持计划到期的告知函， 现将有关情况公告如下： 一、股东减持情况 | 股东名称 | 减持方式 | 减持时间 | 减持均价 （元/股） | 减持股数 （股） | 减持比例 | | --- | --- | --- | --- | --- | --- | | | 集中竞价 | 2025-03-21 | 10.24 | 3,369,607 | 0.72% | | 珠海大靖 | | | | | | | | 集中竞价 | 2025-06-09 | 8.81 | 1,200,0 ...

Investment Rating - The industry is rated as "Recommended" for investment, indicating a favorable outlook for the sector [2][8]. Core Insights - The price center of H acid is expected to rise due to tightening supply and demand dynamics, with a current market average price of 41,750 RMB/ton as of June 13, 2025, reflecting an increase of 5,750 RMB/ton since early January 2025 [6][8]. - The active dye industry is undergoing a phase of industrial upgrading and consolidation, with many small and medium enterprises being eliminated due to sustained price pressure since late 2019 [6][8]. - H acid, a key raw material for producing active dyes, constitutes 30%-50% of the total cost, and its price increase is likely to positively impact active dye prices, which have recently risen from 20 RMB/kg to 23 RMB/kg [6][8]. Summary by Sections Industry Overview - H acid production faces challenges such as high energy consumption and significant environmental pollution, leading to production halts in developed countries, with global capacity concentrated in China and India [6][8]. - Domestic effective H acid capacity is currently below 60,000 tons, resulting in a supply gap exceeding 10% [6][8]. Cost and Pricing Dynamics - The cost support from H acid is expected to facilitate a smoother transmission of price increases in active dyes, benefiting companies with integrated production capacities [6][8]. - The report highlights that companies like Zhejiang Longsheng, Jinchicken Co., Luntai Co., and Jihua Group are well-positioned to benefit from these dynamics [6][8]. Key Companies and Profit Forecast - Key companies to watch include: - Zhejiang Longsheng (Stock Code: 600352.SH) with an estimated EPS of 0.67 for 2025 and a PE ratio of 16 [9]. - Jinchicken Co. (Stock Code: 300798.SZ) currently un-rated but with significant production capacity [9]. - Luntai Co. (Stock Code: 002440.SZ) with an estimated EPS of 0.25 for 2025 and a PE ratio of 33 [9]. - Jihua Group (Stock Code: 603980.SH) with an estimated EPS of 0.25 for 2024 and a PE ratio of 81 [9].

Core Viewpoint - The company, Jiangsu Jinjis Industrial Co., Ltd., maintains a stable credit rating of A+ due to its strong market position in the active dye industry, despite facing challenges such as declining profits and increased operational pressures [2][3][4]. Company Overview - The company is a leading manufacturer in the active dye sector, holding a significant market share with 17.8% of the national active dye production in 2024 [3][8]. - The company has a diverse product range in active dyes, with over 400 varieties across 32 series, and is well-positioned in the market [15]. Financial Performance - The company's revenue for 2024 reached approximately 1.01 billion yuan, reflecting a year-on-year increase of 6.45%, driven primarily by growth in active dye sales [15]. - The gross profit margin improved to 15.30% in 2024, up from 13.12% in the previous year [15]. - However, net profit saw a significant decline due to increased depreciation and amortization expenses, as well as rising interest costs associated with a growing debt load [4][20]. Operational Challenges - The company faces operational challenges, including delays in the production timelines for its fundraising projects, which have been postponed to July 31, 2025 [4][16]. - The active dye industry is experiencing heightened competition and price pressures, leading to a decrease in profit margins [10][12]. Market Environment - The dye industry is currently grappling with insufficient demand, which remains a prominent issue, compounded by increased supply leading to intensified competition [10][12]. - The overall dye production in China reached 940,000 tons in 2024, marking a 6.4% year-on-year increase, but the market remains competitive with declining prices [12][13]. Future Outlook - The company is optimistic about enhancing its raw material supply capabilities through upcoming projects, which are expected to improve its competitive position in the market [4][16]. - The company is also diversifying into the computing power leasing business, which is expected to contribute to revenue, although it faces risks related to market price fluctuations [17][18].