| 证券代码：301004 | 证券简称：嘉益股份 | 公告编号：2025-083 | | --- | --- | --- | | 债券代码：123250 | 债券简称：嘉益转债 | | 浙江嘉益保温科技股份有限公司 关于可转换公司债券 2025 年付息公告 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、误导性陈述或者重大遗漏。 特别提示： 1、"嘉益转债"（债券代码：123250）将于 2025 年 11 月 7 日按面值支付 第一年利息，每 10 张"嘉益转债"（面值 1,000.00 元）利息为人民币 2.00 元（含 税）； 2、债权登记日：2025 年 11 月 6 日（星期四） 3、除息日：2025 年 11 月 7 日（星期五） 4、付息日：2025 年 11 月 7 日（星期五） 8、下一年度的票面利率：0.40% 经中国证券监督管理委员会《关于同意浙江嘉益保温科技股份有限公司向不 特定对象发行可转换公司债券注册的批复》（证监许可[2023]2740 号）同意注册， 浙江嘉益保温科技股份有限公司（以下简称"公司"）于 2024 年 11 月 7 日向不 特定对象发行 ...

Core Insights - Both leading companies in the thermal cup industry, Jiayi Co., Ltd. and Hars, reported a decline in net profits for Q3 2025, reflecting the challenges faced by thermal cup manufacturers amid tightening external environments and industry transitions [1][2] Financial Performance - Hars reported Q3 revenue of 866 million yuan, a year-on-year decrease of 11.19%, with net profit dropping to 8.77 million yuan, down 90.89% year-on-year. Cumulatively, net profit for the first three quarters fell to 100 million yuan, a decline of 55.49% [1] - Jiayi Co., Ltd. achieved Q3 revenue of 430 million yuan, a year-on-year decline of 47.68% and a quarter-on-quarter decline of 36.81%. Net profit for Q3 was 62.93 million yuan, down 70.56% year-on-year and 58.81% quarter-on-quarter [1] Profit Margin Analysis - Hars experienced a gross margin of 23.60% in Q3, a decrease of 6.68 percentage points year-on-year, with an overall gross margin of 26.90% for the first three quarters, down 3.07 percentage points [1][2] - Jiayi Co., Ltd. reported a gross margin of 31.86% for the first three quarters, a decline of 7.68 percentage points year-on-year, with Q3 gross margin at 25.83%, down 13.52 percentage points year-on-year [2] Operational Challenges - Hars attributed its profit decline to slowed revenue growth and fluctuations in gross margin, exacerbated by increased supply chain and labor costs due to overseas base construction [2] - Jiayi Co., Ltd. cited two main factors for its performance drop: delays in order delivery due to production capacity in Vietnam and a conservative inventory reduction strategy adopted by major clients in response to market demand uncertainties [2] Strategic Responses - Both companies are focusing on overseas factory construction as a key strategy to overcome industry challenges. Jiayi Co., Ltd. has streamlined its production system in Vietnam, with increasing order volumes and plans for further automation upgrades [3] - Hars has fully launched its first phase in Thailand and is accelerating the transition of new product molds and raw material reserves to mitigate uncertainties in overseas capacity and ensure high-quality, timely deliveries [3]

Group 1 - The core viewpoint of the article highlights significant target price increases for certain companies, with Dazhu Laser, Qianjiang Motorcycle, and Lihigh Food leading the rankings with target price increases of 62.27%, 54.74%, and 54.33% respectively, indicating strong market confidence in these sectors [1] Group 2 - On October 29, brokerages lowered ratings for two companies: Huazhong Securities downgraded Jiayi Co., from "Buy" to "Hold," while Qunyi Securities (Hong Kong) downgraded Taicheng Light from "Buy" to "Range Trading," reflecting a cautious outlook on these firms [1]

Summary of Stock Buyback Activities on October 30 Core Insights - On October 30, a total of 26 companies announced 27 stock buyback-related updates, indicating a significant activity in the market [1] Group 1: New Buyback Proposals - 16 companies disclosed stock buyback proposals for the first time, with 6 companies proposing buyback amounts exceeding 10 million [1] - The highest proposed buyback amounts were from HeMai Co., Ltd. (up to 200 million), Sanli Shi (60 million), and Minsheng Health (50.544 million) [1] Group 2: Approved Buyback Plans - 2 companies had their buyback plans approved by shareholders, with the highest proposed amounts from Dayu Biological (up to 5.596 million) and New Weiling (20,200) [1] Group 3: Buyback Implementation Progress - 2 companies reported on the implementation of their buyback plans, with the highest amounts from Guyue Longshan (186 million) and Jiayi Co. (99.0246 million) [1] Group 4: Completed Buybacks - 5 companies completed buybacks exceeding 10 million, with the highest completed amounts from Huafa Co. (310 million), Shenzhou Digital (203 million), and Ruoyu Chen (200 million) [1] - As of October 30, a total of 1711 buyback plans have been completed this year, involving 1281 companies, with 330 companies completing buybacks exceeding 100 million [1] - The leading companies in completed buyback amounts include Kweichow Moutai (6 billion), Muyuan Foods (3 billion), and COSCO Shipping Holdings (2.146 billion) [1]

Core Viewpoint - The company, Jiayi Co., announced a share buyback plan, indicating a commitment to returning value to shareholders and potentially signaling confidence in its future performance [1] Group 1 - As of October 29, 2025, the company has repurchased a total of 1,654,372 shares [1] - The repurchased shares represent approximately 1.1374% of the company's total share capital [1]

Core Viewpoint - The company, Zhejiang Jiayi Insulation Technology Co., Ltd., has announced that its stock price has been below 85% of the current conversion price of its convertible bonds for 10 consecutive trading days, indicating a potential trigger for the downward adjustment clause in the bond issuance prospectus [1] Group 1 - The stock price of the company has been below the conversion price of the "Jiayi Convertible Bonds" for 10 trading days from October 16 to October 29, 2025 [1] - There is a possibility of triggering the downward adjustment clause as stipulated in the bond issuance prospectus, which states that if the stock price is below 85% of the conversion price for at least 15 out of any 30 consecutive trading days, the conversion price may be adjusted [1] - If the downward adjustment clause is triggered, the company's board of directors has the authority to propose a downward adjustment plan for the conversion price, which will then be submitted for shareholder approval [1]

Group 1 - The company has repurchased a total of 1.6544 million shares, which accounts for 1.1374% of its current total share capital [1] - The highest transaction price for the repurchased shares was 65.53 yuan per share, while the lowest was 53.01 yuan per share [1] - The total amount spent on the repurchase was 99.0246 million yuan, excluding transaction fees [1] Group 2 - The share repurchase is in compliance with the company's repurchase plan and relevant laws and regulations [1]

浙江嘉益保温科技股份有限公司 关于回购公司股份比例达到 1%的进展公告 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。 浙江嘉益保温科技股份有限公司（以下简称"公司"）于 2025 年 4 月 15 日召开第三届董事会第十四次会议，于 2025 年 5 月 6 日召开 2025 年第一次临时 股东大会，分别审议通过了《关于以集中竞价交易方式回购公司部分股份方案的 议案》等相关议案，公司拟使用不低于人民币 8,000 万元（含），不超过人民币 16,000 万元（含）以集中竞价交易方式回购公司已发行的无限售条件的人民币普 通股（A 股）股票，回购价格不超过人民币 139.86 元/股。回购股份的实施期限 为自股东大会审议通过回购股份方案之日起 12 个月内，具体回购股份的数量以 回购实施完成/回购期满时实际回购的股份数量为准。具体内容详见公司于 2025 年 4 月 16 日和 2025 年 5 月 6 日披露于巨潮资讯网（www.cninfo.com.cn）的《关 于以集中竞价交易方式回购公司部分股份方案的公告》（公告编号：2025-026） 和《回购报告书》 ...

| 证券代码：301004 | 证券简称：嘉益股份 | 公告编号：2025-080 | | --- | --- | --- | | 债券代码：123250 | 债券简称：嘉益转债 | | 浙江嘉益保温科技股份有限公司 关于预计触发可转债转股价格向下修正条件的提示性公告 3、转股价格：79.76 元/股 4、转股期限：2025 年 5 月 13 日起至 2030 年 11 月 6 日（如遇法定节假日 或休息日延至其后的第 1 个工作日；顺延期间付息款项不另计息）。 5、自 2025 年 10 月 16 日至 2025 年 10 月 29 日，浙江嘉益保温科技股份有 限公司（以下简称"公司"）股票已有 10 个交易日的收盘价低于"嘉益转债" 当期转股价格的 85%，存在触发《浙江嘉益保温科技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》"）中规定的转 股价格向下修正条款（即"在可转债存续期间，当公司股票在任意连续三十个交 易日中至少十五个交易日收盘价格低于当期转股价格的 85%"）的可能性。若在 未来触发转股价格向下修正条款，届时根据《募集说明书》中有关转股价格向下 修正的相关 ...

Group 1 - The core viewpoint of the article is that Huazhong Securities has given a "buy" rating to Jiayi Co., Ltd. (301004.SZ) with a latest price of 57.9 yuan, based on their Q3 2025 report [1] - The company's gross margin and net profit margin have declined, indicating short-term pressure on profitability [1] - The production system at the Vietnam factory has been fully streamlined, steadily enhancing global delivery capabilities [1] Group 2 - The article mentions that the A-share market has surpassed 4000 points, marking a significant resurgence after ten years of stagnation [1] - It highlights that the technology sector is reshaping the market, leading to a new "slow bull" market pattern [1]