证券日报网讯 1月5日，双乐股份发布公告称，为规范公司募集资金的存放、使用和管理，保护投资者 权益，根据相关规定，经公司第三届董事会第十四次会议审议通过，公司及子公司双乐颜料泰兴市有限 公司在中信银行兴化支行设立了募集资金专项账户，并与保荐机构浙商证券股份有限公司、中信银行股 份有限公司泰州分行签署了《募集资金三方监管协议》。 （文章来源：证券日报） ...

| 证券代码：301036 | 证券简称：双乐股份 | 公告编号：2026-002 | | --- | --- | --- | | 债券代码：123264 | 债券简称：双乐转债 | | 双乐颜料股份有限公司 关于签订募集资金三方监管协议的公告 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。 二、募集资金专项账户开立和募集资金三方监管协议签订情况 为规范公司募集资金的存放、使用和管理，保护投资者权益，根据《上市公司募集 资金监管规则》《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》及公司《募集资金管理制度》等相关规定，经公司第三届董事会第十四次会议 审议通过，公司及子公司双乐颜料泰兴市有限公司（以下简称"双乐泰兴"）在中信银 行兴化支行设立了募集资金专项账户，并与保荐机构浙商证券股份有限公司、中信银行 股份有限公司泰州分行签署了《募集资金三方监管协议》。具体募集资金专项账户开立 情况如下： | 账户名称 | 开户银行 | 银行账号 | 用途 | | --- | --- | --- | --- | | 双乐颜料泰兴市有限公司 | 中信银行 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - The target price of Shuangle Convertible Bond on its first trading day is expected to be between 133 and 138 yuan, and investors are advised to actively subscribe. The conversion premium rate on the first listing day is estimated to be in the range of 42% - 47% [3][18]. - The estimated first - day new - bond subscription winning rate is around 0.0038% - 0.0054% [4][19]. 3. Summary According to the Directory 3.1 Shuangle Convertible Bond New - Bond Analysis and Investment Suggestions 3.1.1 Convertible Bond Basic Terms Analysis - The issuance methods of Shuangle Convertible Bond are priority placement and online issuance. The bond and issuer ratings are both AA-. The issuance scale is 800 million yuan, the initial conversion price is 36.7 yuan. As of December 31, 2025, the convertible bond parity is 93.73 yuan, the pure bond value is 91.12 yuan. The game terms (downward revision, redemption, and put - back clauses) are normal. Overall, the bond issuance scale is average, the liquidity is average, the rating is acceptable, and the bond floor protection is good. It is not difficult for institutions to include it in their portfolios, and there is no objection to primary participation [2][14]. 3.1.2 New - Bond Initial Listing Price Analysis - The company's main business is the R & D, production, and sales of phthalocyanine series and chromium - based pigments. The funds raised will be used for high - performance blue - green pigment projects, high - performance yellow - red pigment projects, high - performance functional pigment product R & D centers, and working capital replenishment, aiming to expand the production capacity of advantageous products and improve profitability [3][17]. - Based on the current market environment and parity level, referring to similar convertible bonds, the conversion premium rate of Shuangle Convertible Bond on the first listing day is expected to be in the range of 42% - 47%, corresponding to a first - day listing target price around 133 - 138 yuan [3][18]. 3.1.3 Convertible Bond New - Bond Subscription Winning Rate Analysis - As of the end of September 2025, the top two shareholders held a combined 39.42% of the shares, and the top ten shareholders held a combined 57.2%. Assuming the old - shareholder placement ratio is 39% - 57%, the scale available for the market is 342 million - 485 million yuan. Assuming the online effective subscription volume is 8.93 million households, the winning rate is estimated to be around 0.0038% - 0.0054% [4][19]. 3.2 Underlying Stock Fundamental Analysis 3.2.1 Company's Main Business and the Upstream and Downstream of the Industry - The company is mainly engaged in the R & D, production, and sales of phthalocyanine series and chromium - based pigments. It is a leading enterprise in the domestic phthalocyanine pigment segment, with the first domestic market share and high market reputation. The company focuses on technological innovation and process optimization, and its products are becoming more diversified and specialized [20]. - The upstream of the pigment industry mainly includes the petrochemical and non - ferrous metal industries. The prices of raw materials such as phthalic anhydride and electrolytic copper fluctuate. Currently, the low price of phthalic anhydride helps reduce costs, while the high price of electrolytic copper increases costs. The downstream consumption of pigments is mainly in the ink, coating, and plastic fields, and new application demands in emerging industries are growing, which promotes the development of the pigment industry and raises higher requirements for product quality and performance [21][22]. 3.2.2 Company's Operating Conditions - The company's annual revenue has shown slight fluctuations in recent years. From 2022 to the first three quarters of 2025, the revenues were 1.271 billion yuan, 1.433 billion yuan, 1.575 billion yuan, and 1.11 billion yuan respectively, with year - on - year growth rates of - 4.89%, 12.8%, 9.9%, and - 4.94%. The revenue in 2023 and 2024 increased due to the large increase in sales volume, while in the first nine months of 2025, the revenue decreased due to the decline in raw material prices, intensified competition, and the decrease in both price and sales volume of phthalocyanine pigments. The sales volume and price of chromium - based pigments changed little during the reporting period [25]. - The company's comprehensive gross profit margin first increased and then decreased. From 2022 to the first three quarters of 2025, it was 10.2%, 13.09%, 16.95%, and 14.11% respectively. The net profit margin was 2.2%, 3.3%, 7.66%, and 4.46% respectively. The gross profit margin of phthalocyanine pigments was affected by cost changes, while that of chromium - based pigments decreased slightly due to high environmental protection costs [28]. - The company's recent period expenses and R & D expenses have shown little fluctuation. The accounts receivable turnover rate has slightly decreased, but the company has good control over accounts receivable. The net profit attributable to the parent company has fluctuated greatly, and the profitability has also been volatile [30][35][39]. 3.2.3 Company's Equity Structure and Major Controlling Subsidiaries - As of September 30, 2025, the equity structure was relatively concentrated. Yang Hanzhou was the largest shareholder, and the top two shareholders held a combined 39.42% of the shares, and the top ten shareholders held a combined 57.2%. As of December 23, 2025, Yang Hanzhou was the controlling shareholder and actual controller, directly and indirectly controlling the company [44]. 3.2.4 Company's Business Characteristics and Advantages - The company has brand, technology, environmental protection, industrial chain, standard - setting, and marketing and service network advantages. It has well - recognized brands, a complete core technology and process system, a good environmental management system, stable upstream production, participation in standard - setting, and a professional marketing and service network [46][48][51]. 3.2.5 Allocation of the Current Fund Raising - The company plans to issue convertible bonds to raise no more than 800 million yuan. After deducting issuance fees, 166 million yuan will be used for high - performance blue - green pigment projects, 416 million yuan for high - performance yellow - red pigment projects, 38 million yuan for high - performance functional pigment product R & D centers, and 180 million yuan for working capital replenishment [12][53]. - The high - performance blue - green pigment project aims to upgrade and expand the production capacity of phthalocyanine pigments, with expected annual production increases of 1,000 tons of phthalocyanine blue series and 2,000 tons of phthalocyanine green series. The high - performance yellow - red pigment project will add yellow - red organic pigment products, with an expected annual production increase of 4,000 tons. The R & D center project will improve the company's R & D and technology level [53][54][55].

证券代码：301036 证券简称：双乐股份 公告编号：2026-001 双乐颜料股份有限公司 向不特定对象发行可转换公司债券发行结果公告 保荐人（主承销商）：浙商证券股份有限公司 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。 双乐颜料股份有限公司（以下简称"发行人"）向不特定对象发行可转换公司债券 （以下简称"双乐转债"或"可转债"）已获得中国证券监督管理委员会证监许可〔2025〕 2678 号文同意注册。浙商证券股份有限公司（以下简称"主承销商"）为本次发行的保 荐人（主承销商）。本次发行的可转债简称为"双乐转债"，债券代码为"123264"。 本次发行的可转债规模为 80,000.00 万元，每张面值为人民币 100 元，共计 8,000,000 张，按面值发行。本次向不特定对象发行的可转债向发行人在股权登记日 2025 年 12 月 25 日（T-1 日）收市后中国证券登记结算有限责任公司深圳分公司（以下简称"中国结 算深圳分公司"）登记在册的原股东实行优先配售，原股东优先配售后余额部分（含原 股东放弃优先配售部分）通过深圳证券交易所（以下简称"深交所 ...

证券代码：301036 证券简称：双乐股份 公告编号：2025-052 双乐颜料股份有限公司 向不特定对象发行可转换公司债券 中签号码公告 保荐人（主承销商）：浙商证券股份有限公司 2、当原股东优先认购的可转债数量和网上投资者申购的可转债数量合计不足本次 发行数量的 70%时；或当原股东优先缴款认购的可转债数量和网上投资者缴款认购的 可转债数量合计不足本次发行数量的 70%时，发行人及主承销商将协商是否采取中止 发行措施，并及时向深交所报告，如果中止发行，公告中止发行原因，并在批文有效期 内择机重启发行。中止发行时，网上投资者中签的可转债无效且不登记至投资者名下。 本次发行的可转换公司债券由保荐人（主承销商）以余额包销的方式承销，对认购 金额不足 80,000.00 万元的部分承担余额包销责任，包销基数为 80,000.00 万元，主承销 商根据网上资金到账情况确定最终配售结果和包销金额，包销比例原则上不超过本次发 行总额的 30%，即原则上最大包销金额为 24,000.00 万元。当实际包销比例超过本次发 行总额的 30%时，主承销商将启动内部承销风险评估程序，并与发行人协商沟通：如 确定继续履行发行程序， ...

证券代码：301036 证券简称：双乐股份 公告编号：2025-051 双乐颜料股份有限公司 向不特定对象发行可转换公司债券 网上发行中签率及优先配售结果公告 保荐人（主承销商）：浙商证券股份有限公司 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 双乐颜料股份有限公司（以下简称"双乐股份""发行人"或"公司"）和浙商证 券股份有限公司（以下简称"主承销商"或"保荐人（主承销商）"）根据《中华人民 共和国证券法》、《证券发行与承销管理办法》（证监会令〔第 228 号〕）、《上市公 司证券发行注册管理办法》（证监会令〔第 227 号〕）、《深圳证券交易所上市公司证 券发行与承销业务实施细则》（深证上〔2025〕268 号）、《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（2025 年修订）》（深证上〔2025〕223 号） 和《深圳证券交易所创业板上市公司自律监管指南第 1 号——业务办理（2025 年修订）》 （深证上〔2025〕398 号）等相关规定组织实施向不特定对象发行可转换公司债券（以 下简称"双乐转债"或"可转债"）。 ...

Group 1 - The article discusses the issuance of a convertible bond by Shuangle Co., with a conversion price set at 36.70 yuan and a bond rating of AA- [1] - The bond is associated with Shuangle Co., which is the underlying stock for this convertible bond [1] - There are no new stock offerings or significant market events mentioned for the day [1]

Group 1 - The "Shuangle Convertible Bond" is available for subscription today, with the subscription code being 371036, allowing a maximum subscription of 10,000 lots [1]

双乐颜料股份有限公司 向不特定对象发行可转换公司债券发行提示性公告 证券代码：301036 证券简称：双乐股份 公告编号：2025-050 保荐人（主承销商）：浙商证券股份有限公司 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 双乐颜料股份有限公司（以下简称"双乐股份""发行人"或"公司"）和浙商证 券股份有限公司（以下简称"保荐人（主承销商）"或"主承销商"）根据《中华人民 共和国证券法》、《证券发行与承销管理办法》（证监会令〔第 228 号〕）、《上市公 司证券发行注册管理办法》（证监会令〔第 227 号〕）、《深圳证券交易所上市公司证 券发行与承销业务实施细则》（深证上〔2025〕268 号）、《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（2025 年修订）》（深证上〔2025〕223 号） 和《深圳证券交易所创业板上市公司自律监管指南第 1 号——业务办理（2025 年修订）》 （深证上〔2025〕398 号）等相关规定组织实施向不特定对象发行可转换公司债券（以 下简称"双乐转债"或"可转债"）。 本次向不特定对象发 ...

每经AI快讯，双乐股份（SZ 301036，收盘价：36.58元）12月23日晚间发布公告称，公司第三届第十四 次董事会会议于2025年12月23日在公司会议室召开。会议审议了《关于进一步明确公司向不特定对象发 行可转换公司债券方案的议案》等文件。 （记者 曾健辉） 每经头条（nbdtoutiao）——地产"优等生"受困20亿元到期债务，首次债务展期仍在博弈，明年还有超 百亿元公开债到期 2025年1至6月份，双乐股份的营业收入构成为：精细化工占比98.44%，其他占比1.56%。 截至发稿，双乐股份市值为37亿元。 ...