Core Viewpoint - The company Shengde Xintai announced that its subsidiary Jiangsu Pansen plans to apply for a comprehensive credit limit of 5 million yuan from the Changzhou branch of Shanghai Bank, with a guarantee provided by its controlling subsidiary Jiangsu Ruimei for a period of three years [1] Financial Summary - Jiangsu Pansen reported total assets of 201 million yuan and net assets of 120 million yuan as of September 30, 2025 [1] - The company generated revenue of 43.06 million yuan and a net profit of 3.17 million yuan [1] Guarantee Details - After this guarantee, the total balance of guarantees provided by the listed company and its controlling subsidiaries will amount to 394 million yuan, which represents 34.03% of the most recent audited net assets [1] - There are no overdue external guarantees reported [1]

Group 1 - The core viewpoint of the news is that Shengde Xintai has seen a stock price increase of 5.27%, reaching 35.95 yuan per share, with a total market capitalization of 3.955 billion yuan as of the report date [1] - Shengde Xintai New Materials Co., Ltd. specializes in the production, research, and sales of seamless steel pipes for various industrial energy equipment, with its main business revenue composition being: alloy steel pipes 45.54%, stainless steel pipes 29.38%, automotive motor shafts 5.67%, components and others 5.55%, automotive motor housings 4.68%, steel grating 4.05%, waste income 3.49%, and carbon seamless steel pipes 1.64% [1] Group 2 - The top circulating shareholder of Shengde Xintai is the Guotai Fund, which has recently entered the top ten circulating shareholders with its Guotai CSI Steel ETF (515210), holding 328,600 shares, accounting for 0.57% of circulating shares [2] - The Guotai CSI Steel ETF (515210) has a total scale of 3.66 billion yuan and has achieved a return of 27.08% this year, ranking 1974 out of 4197 in its category [2]

Group 1 - The special steel sector increased by 1.1% on December 24, with Fushun Special Steel leading the gains [1] - The Shanghai Composite Index closed at 3940.95, up 0.53%, while the Shenzhen Component Index closed at 13486.42, up 0.88% [1] - Key stocks in the special steel sector showed various increases, with Fushun Special Steel at 5.49 (up 2.43%) and Taiyuan Iron & Steel at 5.08 (up 2.01%) [1] Group 2 - The special steel sector saw a net inflow of 84.90 million yuan from main funds, while retail investors experienced a net outflow of 85.13 million yuan [2] - The trading volume for Taiyuan Iron & Steel was 1.57 million shares, with a transaction value of 793 million yuan [2] - Fushun Special Steel had a main fund net inflow of 40.57 million yuan, representing 10.32% of its trading volume [3]

Group 1 - The core viewpoint of the news is that Shengde Xintai's stock performance and financial metrics indicate a mixed outlook, with a slight increase in stock price but a decline in net profit [1][2] - On December 19, Shengde Xintai's stock rose by 1.76%, with a trading volume of 30.96 million yuan. The financing data shows a net financing outflow of 243.09 thousand yuan for the day [1] - As of December 19, the total margin balance for Shengde Xintai was 73.14 million yuan, with the financing balance accounting for 1.98% of the circulating market value, indicating a low level compared to the past year [1] Group 2 - As of September 30, the number of shareholders for Shengde Xintai increased by 4.88% to 9,970, while the average circulating shares per person decreased by 4.65% to 5,757 shares [2] - For the period from January to September 2025, Shengde Xintai reported operating revenue of 2.325 billion yuan, representing a year-on-year growth of 19.01%, while the net profit attributable to shareholders decreased by 21.38% to 152 million yuan [2] - The company has distributed a total of 229 million yuan in dividends since its A-share listing, with 206 million yuan distributed over the past three years [3]

Core Insights - The "2025 China Engineering Pipeline and Pipe Material Comprehensive Strength Supplier Top 100" list has been released, showcasing the top suppliers in the engineering pipeline and pipe material industry across China [1] - The list evaluates suppliers based on multiple criteria including production scale, technological research and development capabilities, product quality, market share, brand influence, financial status, after-sales service, and social responsibility [1] - The publication aims to provide a clear map of the industry's strength, support collaboration within the supply chain, assist investment institutions, and guide industry policy formulation [1] Supplier Evaluation - The top 100 suppliers represent the backbone of China's engineering pipeline and pipe material industry, indicating the mainstream direction and overall level of industry development [1] - The suppliers are distributed nationwide and offer a diverse range of products to meet various engineering needs [1] Industry Goals - The initiative encourages all companies to benchmark against advanced peers and strive for progress, contributing to China's transition from a major manufacturing country to a strong manufacturing nation [1]

盛德鑫泰公告称，公司于2025年11月17日收到深交所关于向不特定对象发行可转债的审核问询函。公司 会同中介机构研究落实问题，更新申请文件。12月13日公开披露审核问询函回复等文件，并将报送书面 回复材料。本次发行尚需通过深交所审核、获中国证监会同意注册，最终结果及时间不确定，公司将及 时披露进展。 ...

证券代码：300881 证券简称：盛德鑫泰 公告编号：2025-051 盛德鑫泰新材料股份有限公司 关于公司申请向不特定对象发行可转换公司债券的审核问 询函回复及申请文件更新的提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没 有虚假记载、误导性陈述或重大遗漏。 盛德鑫泰新材料股份有限公司（以下简称"公司"）于 2025 年 11 月 17 日 收到深圳证券交易所（以下简称"深交所"）出具的《关于盛德鑫泰新材料股份 有限公司申请向不特定对象发行可转换公司债券的审核问询函》（审核函 （2025020076 号）（以下简称"审核问询函"）。 公司收到审核问询函后，按照要求会同相关中介机构就审核问询函提出的问 题进行了认真研究和逐项落实，同时对募集说明书等申请文件进行了相应的补充 和更新。现根据相关要求对审核问询函回复进行公开披露，具体内容详见公司于 2025 年 12 月 13 日在巨潮资讯网（www.cninfo.com.cn）披露的《盛德鑫泰新材 料股份有限公司和东方证券股份有限公司关于公司向不特定对象发行可转换公 司债券审核问询函的回复》及《盛德鑫泰新材料股份有限公司向不特定对象发行 ...

股票简称：盛德鑫泰 股票代码：300881 盛德鑫泰新材料股份有限公司 Shengtak New Material Co.,Ltd. （钟楼区邹区镇邹区村周家湾） 向不特定对象发行可转换公司债券 募集说明书 （申报稿） 保荐机构（主承销商） （上海市黄浦区中山南路 318 号 24 层） 二〇二五年十二月 盛德鑫泰新材料股份有限公司 募集说明书 声 明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对申 请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行 人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任何与 之相反的声明均属虚假不实陈述。 根据《证券法》的规定，证券依法发行后，发行人经营与收益的变化，由 发行人自行负责。投资者自主判断发行人的投资价值，自主作出投资决策，自 行承担证券依法发行后因发行人经营与收益变化或者证券价格变动引致的投资 风险。 1-1-2 盛德鑫泰新材料股份有限公司 募集说明书 重大事项提示 本公司特别提请投资者注意，在作出投资决策之前，务必仔细阅读本募集 说明书正文内容，并特别关注以下重要事项。 一、关于本次可转换公司债券发行符合发行条件 ...

盛德鑫泰新材料股份有限公司 与 东方证券股份有限公司 关于 盛德鑫泰新材料股份有限公司 申请向不特定对象发行可转换公司 债券的审核问询函的回复报告 保荐人（主承销商） 二〇二五年十二月 7-1-1 深圳证券交易所： 盛德鑫泰新材料股份有限公司（以下简称"公司""盛德鑫泰""发行人"） 收到贵所于 2025 年 11 月 17 日下发的《关于盛德鑫泰新材料股份有限公司申请 向不特定对象发行可转换公司债券的审核问询函》（审核函〔2025〕020076 号） （以下简称"审核问询函"）。 公司已会同东方证券股份有限公司（以下简称"东方证券""保荐机 构""保荐人"）、上海市锦天城律师事务所（以下简称"发行人律师"）、公 证天业会计师事务所（特殊普通合伙）（以下简称"会计师"）等相关方对审核 问询函所列问题进行了核查，对申请材料进行了修改、补充和说明。现对审核问 询函的落实和募集说明书的修改情况逐条书面回复，并提交贵所，请予审核。 说明： 1、如无特殊说明，本回复报告中使用的简称或名词释义与《盛德鑫泰新材 料股份有限公司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"）一致。涉及募集说明书补充披露 ...

关于盛德鑫泰新材料股份有限公司 可转债申请文件的反馈意见的回复 公证天业会计师事务所(特殊普通合伙) Gongzheng Tianye Certified Public Accountants, SGP 第 1 页 共 177 页 公证天业会计师事务所(特殊普通合伙) Gongzheng Tianye Certified Public Accountants, SGP 中国 . 江苏 . 无锡 Wuxi . Jiangsu . China 总机：86（510）68798988 Tel：86（510）68798988 传真：86（510）68567788 Fax：86（510）68567788 电子信箱：mail@gztycpa.cn E-mail：mail@gztycpa.cn 关于盛德鑫泰新材料股份有限公司 可转债申请文件的反馈意见的回复 深圳证券交易所： 根据贵所《关于盛德鑫泰新材料股份有限公司申请向不特定对象发行可转换 公司债券的审核问询函》（审核函〔2025〕020076 号）的要求，我们已对盛德 鑫泰新材料股份有限公司（以下简称"发行人"、"公司"或"盛德鑫泰"）发 行可转债申请文件反馈意见中提出的 ...