Core Viewpoint - The company, Kaisheng New Materials (301069.SZ), has not established direct business cooperation with Guoxing Aerospace and is not directly involved in the "Liangxi Constellation" project [1] Group 1: Company Information - The company's PEKK product is a high-performance thermoplastic engineering plastic with excellent mechanical properties, wear resistance, corrosion resistance, self-lubrication, insulation stability, and high-temperature usage [1] - The PEKK product can be utilized in aerospace and other fields [1]

| 证券代码：301069 | 证券简称：凯盛新材 | 公告编号：2026-011 | | --- | --- | --- | | 债券代码：123233 | 债券简称：凯盛转债 | | 山东凯盛新材料股份有限公司 关于"凯盛转债"即将停止转股暨最后半个可转股交易日的 重要提示性公告 本公司及董事会全体成员保证公告内容真实、准确和完整，并对公告中的 虚假记载、误导性陈述或者重大遗漏承担责任。 重要内容提示： 1、最后转股日：2026 年 1 月 14 日 截至本公告披露时，距离"凯盛转债"停止转股并赎回仅剩半个交易日（即 2026 年 1 月 14 日下午交易时段），2026 年 1 月 14 日收市后，未转股的"凯盛 转债"将停止转股，剩余可转债将按照 100.10 元/张的价格被强制赎回。 2、投资者如未及时转股，可能面临损失。敬请投资者仔细阅读本公告内容， 关注相关风险。 特别提示： - 1 - 赎回价格：100.10 元/张（含息、税） 赎回条件满足日：2025 年 12 月 22 日 赎回登记日：2026 年 1 月 14 日 赎回日：2026 年 1 月 15 日 停止交易日：2026 年 1 月 ...

Group 1 - The core point of the announcement is the early redemption of "Kai Sheng Convertible Bonds" (凯盛转债) by the company, which will take place on January 15, 2026, following the last conversion date on January 14, 2026 [2][4][15] - The redemption price is set at 100.10 yuan per bond, which includes interest and tax [3][12] - The company has triggered the conditional redemption clause due to the stock price performance, where the stock price exceeded 130% of the conversion price for the required number of trading days [9][11] Group 2 - The company issued 6.5 million convertible bonds with a total fundraising amount of 650 million yuan, with a face value of 100 yuan per bond [5] - The conversion period for the bonds starts on June 5, 2024, and ends on November 28, 2029, with an initial conversion price of 20.26 yuan per share [6] - The conversion price will be adjusted based on the company's dividend distributions, with the first adjustment reducing the price to 20.11 yuan per share effective April 25, 2024 [7]

Core Viewpoint - Company currently does not have any products directly used in the photolithography field [1] Group 1 - Company is engaged in investor interactions regarding its product offerings [1]

关于"凯盛转债"即将停止转股暨最后一个可转股交易日的 重要提示性公告 本公司及董事会全体成员保证公告内容真实、准确和完整，并对公告中的 虚假记载、误导性陈述或者重大遗漏承担责任。 重要内容提示： 1、最后转股日：2026 年 1 月 14 日 2026 年 1 月 14 日是"凯盛转债"最后一个转股日，当日收市前，持有"凯 盛转债"的投资者仍可进行转股；2026 年 1 月 14 日收市后，未转股的"凯盛转 债"将停止转股。 | 证券代码：301069 | 证券简称：凯盛新材 | 公告编号：2026-010 | | --- | --- | --- | | 债券代码：123233 | 债券简称：凯盛转债 | | 山东凯盛新材料股份有限公司 2、截至 2026 年 1 月 13 日收市后，距离"凯盛转债"停止转股并赎回仅剩 1 个交易日。本公司特提醒投资者仔细阅读本公告内容，关注相关风险，谨慎交 易"凯盛转债"。 - 1 - 特别提示： 赎回价格：100.10 元/张（含息、税） 赎回条件满足日：2025 年 12 月 22 日 赎回登记日：2026 年 1 月 14 日 赎回日：2026 年 1 月 15 日 ...

Core Viewpoint - The announcement details a change in the equity stake of the controlling shareholder, Huabang Health, due to the conversion of convertible bonds, resulting in a decrease from 28.98% to 27.98%, which triggers a 1% integer change but does not affect control or governance of the company [2][3]. Group 1: Shareholder Equity Change - The equity change is primarily due to the conversion of some convertible bondholders, leading to an increase in total share capital and a passive dilution of Huabang Health's shareholding [2][3]. - The change does not trigger a mandatory takeover bid and will not result in a change of the controlling shareholder or actual controller [2][3]. Group 2: Convertible Bond Redemption - The last conversion date for the "Kaisheng Convertible Bonds" is January 14, 2026, after which unconverted bonds will be redeemed at a price of 100.10 yuan per bond [5][19]. - The redemption process includes a series of important dates: trading will stop on January 12, 2026, and redemption will occur on January 15, 2026 [21][23]. - Investors are advised to convert or sell their bonds before the deadline to avoid forced redemption [5][6]. Group 3: Convertible Bond Issuance and Terms - The company issued 6.5 million convertible bonds at a face value of 100 yuan each, raising a total of 650 million yuan [9][10]. - The initial conversion price was set at 20.26 yuan per share, subject to adjustments based on dividend distributions [11][12]. - The bonds have conditional redemption clauses that allow the company to redeem them if certain stock price conditions are met [16][18].

本公司及董事会全体成员保证公告内容真实、准确和完整，并对公告中的 虚假记载、误导性陈述或者重大遗漏承担责任。 重要内容提示： 1、最后转股日：2026 年 1 月 14 日 2026 年 1 月 14 日是"凯盛转债"最后一个转股日，当日收市前，持有"凯 盛转债"的投资者仍可进行转股；2026 年 1 月 14 日收市后，未转股的"凯盛转 债"将停止转股。 | 证券代码：301069 | 证券简称：凯盛新材 | 公告编号：2026-008 | | --- | --- | --- | | 债券代码：123233 | 债券简称：凯盛转债 | | 山东凯盛新材料股份有限公司 关于提前赎回"凯盛转债"实施暨即将停止转股的 重要提示性公告 2、截至 2026 年 1 月 12 日收市后，距离"凯盛转债"停止转股并赎回仅剩 2 个交易日。本公司特提醒投资者仔细阅读本公告内容，关注相关风险，谨慎交 易"凯盛转债"。 - 1 - 风险提示：根据赎回安排，截至 2026 年 1 月 14 日收市后尚未实施转股的 "凯盛转债"将按照 100.10 元/张的价格强制赎回，因目前二级市场价格与赎回 价格差异较大，投资者如未及时转股， ...

| 证券代码：301069 | 证券简称：凯盛新材 | 公告编号：2026-009 | | --- | --- | --- | | 债券代码：123233 | 债券简称：凯盛转债 | | 山东凯盛新材料股份有限公司 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致， 并保证披露的公司相关信息内容真实、准确、完整，没有虚假记载、误导性陈 述或重大遗漏。 重要提示： 1.本次权益变动主要系山东凯盛新材料股份有限公司（以下简称"公司"或 "本公司"）公开发行的公司债券的部分持有人转股导致公司总股本增加，进而 导致控股股东华邦生命健康股份有限公司（以下简称"华邦健康"）的持股比例 被动从 28.98%减少至 27.98%，权益变动触及 1%的整数倍。 2.本次权益变动不触及要约收购，不会导致公司控股股东或实际控制人发生 变化，亦不会对公司治理结构及持续经营产生重大影响。 关于控股股东权益变动比例触及1%整数倍的公告 一、本次控股股东华邦健康权益变动的基本情况 2025 年 12 月 25 日—2026 年 1 月 9 日，由于公司部分可转债持有人转股导 致总股本增加，控股股东华邦健康持股比例被动稀释， ...

Investment Rating - The report maintains a "Recommended" rating for the chemical industry [1] Core Insights - The chemical industry is expected to experience an upward cycle due to the implementation of "anti-involution" policies in China and the accelerated exit of some European facilities [29] - The report highlights the potential for domestic substitution of semiconductor materials from Japan due to rising geopolitical tensions, which could benefit various companies in the sector [5] - The chromium salt industry is undergoing a value reassessment driven by increased demand from AI data centers and commercial aircraft engines, with a projected supply-demand gap of 340,900 tons by 2028 [8] Summary by Sections Industry Performance - The chemical industry has shown strong relative performance with a 1-month increase of 10.7%, 3-month increase of 9.6%, and a 12-month increase of 45.1%, outperforming the CSI 300 index [3] Price Trends - Key products such as lithium carbonate and polysilicon have seen significant price increases, supported by policy guidance and industry self-discipline [12] - The price of chromium salts has remained stable, with metal chromium priced at 82,000 CNY/ton as of January 9, 2026 [15] Investment Opportunities - Focus on companies with low-cost expansion capabilities, such as Wanhu Chemical and Hualu Hengsheng, as well as those in sectors with improving market conditions like chromium salts and phosphates [6][9] - High dividend yield opportunities are identified in state-owned enterprises like China Petroleum and China National Chemical [10] Key Company Tracking - Companies such as Dongfang Shenghong and Huabei Yihua are highlighted for their earnings potential, with projected EPS growth for 2026 [30] - The report tracks specific price movements for various chemicals, including a notable increase in the price of ammonium phosphate and a stable price for urea [17][19]

Summary of Key Points Core Viewpoint The announcement from Shandong Kaisheng New Materials Co., Ltd. highlights the imminent cessation of trading and conversion for its convertible bonds, "Kaisheng Convertible Bonds," urging investors to act before the deadlines to avoid forced redemption. Group 1: Important Dates and Actions - The last trading day for "Kaisheng Convertible Bonds" is January 9, 2026, with the bond's name changed to "Z Sheng Convertible Bonds" [2][22] - The final conversion date is January 14, 2026, after which unconverted bonds will cease to be convertible [3][21] - The redemption price is set at 100.10 yuan per bond, including interest and tax [4][22] Group 2: Redemption and Trading Details - The bonds will stop trading on January 12, 2026, and the redemption date is January 15, 2026 [5][22] - Investors must ensure that any pledged or frozen bonds are released before the trading halt to avoid forced redemption [4][23] - The company will complete the redemption process and the bonds will be delisted from the Shenzhen Stock Exchange after the redemption [4][23] Group 3: Bond Issuance and Conditions - The company issued 6.5 million convertible bonds with a total fundraising amount of 650 million yuan [25][26] - The bonds were listed on the Shenzhen Stock Exchange starting December 15, 2023 [26] - The conversion period for the bonds runs from June 5, 2024, to November 28, 2029, with an initial conversion price of 20.26 yuan per share [27][28] Group 4: Conversion Price Adjustments - The conversion price will be adjusted based on dividend distributions, with the first adjustment reducing the price to 20.11 yuan per share effective April 25, 2024 [28] - Subsequent adjustments will continue to lower the conversion price based on future dividend distributions [29][30][31] Group 5: Conditional Redemption Clauses - The company has the right to redeem the bonds if the stock price exceeds 130% of the conversion price for a specified number of trading days [32][33] - The board has decided to exercise the redemption rights based on current market conditions and the bond's performance [34]