Core Viewpoint - The company has decided to cancel the issuance of convertible bonds to unspecified investors after a comprehensive evaluation of the feasibility, investment returns, and future funding needs of the fundraising projects in light of current market conditions and industry trends [1] Group 1 - The company has conducted a thorough assessment and optimization of its fundraising projects since the initiation of the convertible bond matter [1] - The adjustment of the refinancing plan aims to better align with the company's future development strategy and optimize resource allocation [1] - The decision was made after careful consideration by the company's board of directors to ensure the protection of investor interests [1]

Group 1 - The core point of the article highlights that Haotong Technology held its 12th meeting of the 7th board of directors on February 27, 2026, to discuss the cancellation of the issuance of convertible bonds to unspecified objects [1] - The article also notes that in February, China's AI usage surpassed that of the United States for the first time, with four major models ranking among the top five globally, indicating a significant growth in domestic computing power demand [1]

二、董事会会议审议情况 证券代码：301026 证券简称：浩通科技 公告编号：2026-004 徐州浩通新材料科技集团股份有限公司 第七届董事会第十二次会议决议公告 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。 一、董事会会议召开情况 徐州浩通新材料科技集团股份有限公司（以下简称"公司"）第七届董事会 第十二次会议于2026年2月27日以现场结合通讯的方式召开，会议通知已于2026 年2月24日以电子邮件方式送达全体董事。本次董事会应出席董事9人，实际出席 9人，其中6名董事刘建勇先生、边疆先生、郭楚文先生、刘碧波先生、欧阳志坚 先生、赵来运先生通讯参会。会议由董事长夏军先生召集和主持，本次会议的召 集、召开符合相关法律法规和《公司章程》的规定，会议决议合法、有效。 3、第七届独立董事专门会议2026年第一次会议决议。 特此公告 徐州浩通新材料科技集团股份有限公司董事会 经与会董事认真审议并表决，一致通过如下议案： （一）审议通过《取消向不特定对象发行可转换公司债券事项》的议案 表决结果：同意9票，反对0票，弃权0票。 具体内容详见公司于同日在巨潮资讯网披露 ...

证券代码：301026 证券简称：浩通科技 公告编号：2026-005 徐州浩通新材料科技集团股份有限公司 取消向不特定对象发行可转换公司债券事项的公告 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。 徐州浩通新材料科技集团股份有限公司（以下简称"公司"）于2026年2月 27日召开第七届董事会第十二次会议，审议通过了《取消向不特定对象发行可转 换公司债券事项》的议案，公司决定取消本次向不特定对象发行可转换公司债券 事项，现将具体情况公告如下： 一、向不特定对象发行可转换公司债券的基本情况 公司于2025年2月11日召开第七届董事会第五次会议、第七届监事会第五次 会议，审议通过了关于《向不特定对象发行可转换公司债券方案》等的相关议案， 具体内容详见公司于2025年2月11日在巨潮资讯网披露的相关公告。本次向不特 定对象发行可转换公司债券事项尚未经公司股东会审议，亦未向深圳证券交易所 提交相关申请材料。 二、取消向不特定对象发行可转换公司债券事项的原因 鉴于自启动本次可转债事项以来，公司结合当前市场环境变化、行业发展趋 势以及自身经营战略的调整，对募投项目的可行 ...

Core Viewpoint - The Chinese ruthenium industry is at a critical development juncture characterized by severe supply-demand imbalance, with significant risks and opportunities arising from increasing demand in data centers, hydrogen fuel cells, and quantum computing by 2025, while facing supply instability from major producers like South Africa and Russia due to geopolitical risks and logistical challenges [1][9]. Industry Overview - Ruthenium (Ru) is a rare transition metal with a high melting point (approximately 2334°C) and boiling point (approximately 4150°C), primarily extracted from platinum or nickel refining by-products, with global resources concentrated in South Africa and Russia [2][4]. Industry Chain - The upstream of the ruthenium industry involves extraction from associated minerals like platinum, nickel, and copper sulfide ores, with no large independent deposits. Ruthenium can also be recovered from electronic waste and industrial catalysts [4][6]. Current Industry Status - Ruthenium, once an obscure metal, is rapidly becoming a strategic material driving the global digital economy and green transition, with a projected global demand of approximately 1197 megajoules in 2024, reflecting a year-on-year increase of 10.73% [8][9]. Key Enterprises - The competitive landscape of the Chinese ruthenium industry is marked by a heavy reliance on imports and a focus on circular economy practices. Major players include Jinchuan Group, which leverages its resources for strategic metal development, and Guizhou Platinum Group, which leads in precious metal recycling and processing [10][11]. Industry Development Trends 1. **Strategic Demand Restructuring**: The growth logic of the ruthenium industry is shifting, with explosive growth expected from the renewable energy and semiconductor sectors, particularly in hydrogen energy applications where ruthenium is becoming a key material [14]. 2. **Industry Paradigm Shift**: The development of a circular economy and efficient recovery from urban mining is essential for ensuring supply chain security in China, with a focus on improving recovery technology and product purity [14]. 3. **Optimized Development Environment**: The healthy development of the industry relies on comprehensive top-level design and policy support, including the establishment of a national recycling network and financial tools to stabilize the market [15].

Core Insights - The article discusses the significance of recycled silver, which is extracted from silver-containing waste materials across various industries, including photography, jewelry, electronics, and healthcare. Recycled silver has become a crucial component of the silver supply chain, especially as global silver supply is primarily dependent on mining, with over 80% of silver reserves found alongside other metals [1][5][6]. Group 1: Recycled Silver Overview - Recycled silver is derived from waste materials and undergoes multiple processes such as sorting, cleaning, and smelting to be reused [1][2]. - The global supply of silver is characterized by a "mining-dominant, recycling-supplementary" model, with recycled silver becoming an essential source due to the long cycles of new mining capacity [1][6]. Group 2: Global Recycled Silver Production - Global recycled silver production is projected to increase from 4,861 tons in 2016 to 6,009 tons by 2025, raising its share of total silver supply from 14.8% to 18.7% [1][6]. - The top five countries for recycled silver production in 2024 are the United States (1,572 tons), China (1,233 tons), India (533 tons), Germany (377 tons), and Russia (332 tons) [1][8]. Group 3: Sources of Recycled Silver - The primary sources of recycled silver include industrial applications (56.5% of production), jewelry (18.9%), and silverware (13.9%) [1][10]. - Industrial applications, particularly the recycling of silver catalysts, are a significant contributor to the growth of recycled silver production [1][10]. Group 4: China's Recycled Silver Industry - China's recycled silver supply has been expanding, with production surpassing 1,000 tons in 2021 and projected to reach approximately 1,250 tons by 2025, maintaining over 20% of global production [1][12]. - The growth in China's recycled silver production is driven by supportive policies, increased raw material availability, and advancements in recycling technology [1][12]. Group 5: Industry Policies and Trends - The development of a circular economy is a key strategy for China's economic growth, with various policies aimed at promoting resource recycling and utilization [1][11]. - The recycled silver market is expected to face limited short-term growth but has significant long-term potential due to increasing demand for precious metals and advancements in recycling technologies [1][15].

Group 1 - The company plans to sell up to 981,700 shares of repurchased stock, accounting for 0.62% of total share capital, with the sale period from January 22, 2026, to July 21, 2026 [2] - Proceeds from the share sale will be used to supplement working capital, and the plan is currently in the implementation stage [2] - The company intends to increase the maximum holding balance for hedging business from 150 million yuan to 300 million yuan, pending approval from a temporary shareholders' meeting on January 15, 2026 [2] Group 2 - Recent stock price fluctuations include a notable increase of 9.54% on February 11, 2026, indicating volatility influenced by market sentiment and industry factors [3] - The changes in stock price and capital flow reflect the impact of the company's recent events and the overall performance of the precious metals sector [3]

Group 1: Market Overview - The A-share market showed mixed performance on February 11, with the ChiNext Index falling over 1% and total trading volume in the Shanghai and Shenzhen markets reaching 2 trillion yuan, a decrease of 123.7 billion yuan from the previous trading day [1] - Over 3,200 stocks in the market experienced declines, indicating a broad-based sell-off [1] Group 2: Chemical Industry Insights - UBS recently released a report raising expectations for the Chinese chemical industry, predicting a new upward cycle from 2026 to 2028 due to multiple positive factors, with expectations for profit recovery and valuation increases [1] - The chemical sector has shown resilience, with companies like Jihua Group and Taihe New Materials experiencing significant stock price increases [1] Group 3: Fiberglass Sector Performance - The fiberglass manufacturing sector saw a collective surge, with nearly all stocks hitting the daily limit, a rare occurrence in the market [1] - Notable stocks included International Composite Materials, which hit a 20% limit up shortly after market open, and others like Changhai Co., Honghe Technology, and China Jushi also saw significant gains [1][2] - The fiberglass sector's revaluation is linked to price increases and demand driven by AI, with major manufacturers indicating price hikes and low inventory levels [3] Group 4: Lithium Battery and Precious Metals - Lithium battery stocks were active, with Zhongcai Technology hitting the limit up and reaching a historical high [4] - The domestic commodity futures market saw most prices rise, with lithium carbonate increasing over 9% [4] - Precious metals also experienced volatility, with silver futures rising over 4% and gold prices recovering above $5,050 per ounce [5]

Core Viewpoint - Haotong Technology (301026) demonstrates strong comprehensive service and competitive capabilities through excellent craftsmanship, robust R&D capabilities, large-scale production capacity, strict quality control, and efficient management systems [1] Group 1: Company Strengths - The company has established strong comprehensive service and competitive capabilities by leveraging its superior craftsmanship and strong R&D capabilities [1] - Haotong Technology has a large-scale production capacity and implements strict quality control measures [1] - The company has an efficient management system that enhances its operational effectiveness [1] Group 2: Industry Engagement - Haotong Technology collaborates with upstream and downstream resources to serve multiple well-known domestic and international enterprises in various industries [1] - The company has led the formulation of over ten standards in the petrochemical field and participated in the development of more than twenty additional standards [1]

Core Viewpoint - Haotong Technology (301026) has established a strong capability in the recovery of precious metals from spent catalysts in the petrochemical and fine chemical industries, ensuring high purity and meeting the demands of high-end industrial applications [1] Group 1: Company Capabilities - The company has accumulated years of technical expertise and brand recognition in the field of precious metal recovery [1] - It is capable of producing high-purity platinum, palladium, and silver, with product purity and technical specifications meeting high-end industrial application requirements [1] Group 2: Market Focus - The company's products are primarily sold to catalyst manufacturers in the petroleum and chemical sectors, with end-use applications determined by customer needs [1] - The company is aware of the potential demand for high-performance precious metal materials in emerging fields and will continue to monitor technological developments and market opportunities in related industries [1]