Core Viewpoint - The company Jusa Long (301131) has stated that, according to relevant regulations, the number of shareholders outside of regular reports is non-mandatory disclosure, and it will disclose the number of shareholders at the end of each month to investors [1] Summary by Sections - Shareholder Disclosure Policy - The company will disclose the total number of shareholders as of the end of each month, adhering to regulations regarding non-mandatory disclosures [1] - Future Reporting - The total number of shareholders as of September 2025 will be disclosed in the company's third quarterly report of 2025 [1]

Group 1 - The core viewpoint of the article is that Jusalong (SZ 301131) is actively engaging with investors through a scheduled meeting, indicating transparency and investor relations efforts [1] - Jusalong's revenue for the first half of 2025 is entirely derived from the modified plastics industry, highlighting its focused business model [1] - As of the report, Jusalong has a market capitalization of 2.3 billion yuan, reflecting its valuation in the market [1] Group 2 - The company is set to hold an investor meeting on October 22, 2025, with participation from its board secretary and other representatives, which may provide insights into its future strategies [1] - The announcement of the investor meeting suggests that Jusalong is prioritizing communication with stakeholders, which can be a positive signal for potential investors [1]

Production Capacity - The company has three production bases in South China, East China, and Southwest China, with a designed capacity of 200,000 tons in South China, achieving an 80% utilization rate as of now [2] - The East China production base has a designed capacity of approximately 50,000 tons, expected to gradually release 50% of its capacity by mid-2025 [2] - The Southwest production base is still under construction and currently has no capacity released [2] Cost Improvement Measures - The company has implemented cost reduction and efficiency enhancement measures since last year, optimizing both material and production costs through iterative upgrades in formulation [2] - Increased capacity utilization and product output have further released economies of scale [2] Customer Segmentation - Approximately 50% of the company's downstream customers are in the home appliance sector, while around 40% are in the automotive sector, with other industries accounting for about 10% [3] - Key home appliance clients include Midea, Gree, Haier, and Xiaomi, while automotive clients include GAC Aion and GAC Toyota [3] Order Stability - The company has established strong cooperative relationships with core customers in the home appliance and automotive sectors, ensuring stable order sources [4] Cash Flow Issues - The negative operating cash flow is primarily due to differences in settlement methods between customers and suppliers, with suppliers requiring immediate payment while customers typically use longer-term payment methods [5] New Directions and Innovations - The company is focusing on the research and development of modified high polymer materials for emerging industries such as new energy and robotics [6] - It aims to actively expand into new product areas aligned with downstream application opportunities [6] Recycling Initiatives - The company promotes the recycling of post-consumer plastics (PCR) and is working on certification to enhance the high-value recycling of materials [7][8] Response to Price Declines - In response to declining end-user prices due to increased competition, the company is enhancing R&D capabilities, improving product formulations, and developing recyclable materials to reduce costs and improve production efficiency [8]

Market Overview - The Shanghai Composite Index closed at 3839.76 points, with a decline of 1.95% [1] - The total trading volume of A-shares reached 1,954.408 billion yuan [1] Technical Analysis - A total of 207 A-shares experienced a "death cross" where the 5-day moving average fell below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Dashengda: -1.36% - Guanghetong: -1.33% - Songyang Resources: -1.32% [1] Individual Stock Performance - Dashengda (603687) saw a decline of 6.44% with a trading turnover of 3.58% and a latest price of 8.42 yuan, which is 9.17% below the 10-day moving average [1] - Guanghetong (300638) decreased by 5.86%, with a turnover of 5.63% and a latest price of 28.25 yuan, 8.55% below the 10-day moving average [1] - Songyang Resources (603863) dropped 10.02%, with a turnover of 8.88% and a latest price of 19.31 yuan, 14.01% below the 10-day moving average [1] Additional Notable Stocks - Other stocks with significant declines include: - Chuan Dong (603767): -9.94%, latest price 24.36 yuan, 10.84% below the 10-day moving average [1] - Lianhong (003022): -4.45%, latest price 19.56 yuan, 7.05% below the 10-day moving average [1] - Qide New Materials (300995): -6.19%, latest price 44.11 yuan, 8.55% below the 10-day moving average [1]

| 证券代码：301131 | 证券简称：聚赛龙 | 公告编号：2025-067 | | --- | --- | --- | | 债券代码：123242 | 债券简称：赛龙转债 | | 广州市聚赛龙工程塑料股份有限公司 "赛龙转债"2025 年第三季度转股情况暨股份变动公告 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。 重要内容提示： 1、"赛龙转债"（债券代码：123242）转股期限为 2025 年 1 月 13 日至 2030 年 7 月 7 日；最新的转股价格为人民币 36.20 元/股。 2、可转债转股情况：2025 年第三季度，有人民币 66,800 元"赛龙转债"转 换为公司股票，转股数量为 1,837 股。截至 2025 年 9 月 30 日，累计已有人民币 517,500 元"赛龙转债"转换为公司股票，累计转股数量为 14,067 股，占"赛龙 转债"转股前公司已发行普通股股份总额的 0.0294%。 3、未转股可转债情况：截至 2025 年 9 月 30 日，公司尚未转股的"赛龙转 债"金额为人民币 249,482,500 元，占"赛龙转债 ...

Group 1 - The core viewpoint of the news is that 聚赛龙 (Jusailong) has shown significant financial activity, with a notable increase in financing and a decrease in shareholder numbers, indicating potential shifts in investor sentiment [1][2]. - As of September 25, 2023, 聚赛龙's financing buy-in amounted to 504.85 million yuan, with a net financing buy of 232.08 million yuan, reflecting a high financing balance of 1.45 billion yuan, which constitutes 6.36% of its market capitalization [1]. - The company has a diverse revenue structure, with modified PP accounting for 55.31% of its main business income, followed by other materials such as modified PC/ABS at 10.56% and modified ABS at 8.65% [1]. Group 2 - As of August 31, 2023, the number of shareholders for 聚赛龙 decreased by 13.19% to 8,765, while the average circulating shares per person increased by 15.20% to 3,514 shares [2]. - For the first half of 2025, 聚赛龙 reported a revenue of 748 million yuan, a year-on-year decrease of 1.41%, but the net profit attributable to shareholders increased by 48.80% to 21.61 million yuan [2]. - Since its A-share listing, 聚赛龙 has distributed a total of 802.73 million yuan in dividends, with 563.83 million yuan paid out over the past three years [2].

Core Points - The company, Jusalon, announced a temporary suspension of the conversion of its convertible bonds due to the implementation of its 2025 semi-annual equity distribution [1] - The suspension period for the convertible bonds (bond code: 123242; bond abbreviation: Jusalon Convertible Bonds) is from September 19, 2025, to the equity registration date of September 26, 2025 [1] - The conversion of the bonds will resume on the first trading day after the equity registration date, which is September 29, 2025 [1]

| 证券代码：301131 | 证券简称：聚赛龙 | 公告编号：2025-066 | | --- | --- | --- | | 债券代码：123242 | 债券简称：赛龙转债 | | 广州市聚赛龙工程塑料股份有限公司 关于"赛龙转债"恢复转股的提示性公告 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。 特别提示： 1、债券代码：123242 债券简称：赛龙转债 2、转股期限：2025 年 1 月 13 日至 2030 年 7 月 7 日 3、暂停转股时间：2025 年 9 月 19 日至 2025 年 9 月 26 日 2025 年 9 月 25 日 1 4、恢复转股时间：2025 年 9 月 29 日 广州市聚赛龙工程塑料股份有限公司（以下简称"公司"）因实施公司 2025 年半年度权益分派，根据《广州市聚赛龙工程塑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》相关条款的规定，公司可转换公司债券（债券代 码：123242；债券简称：赛龙转债）自 2025 年 9 月 19 日至 2025 年半年度权益 分派股权登记日（2025 年 9 月 26 ...

Group 1 - The company, Jusa Long (301131), stated on September 24 that as of the end of August 2025, the total number of shareholders will be 8,765 [1]

Core Viewpoint - The company, Jusalong, announced its cash dividend distribution plan for the first half of 2025, indicating a commitment to returning value to shareholders through cash dividends [2] Summary by Relevant Sections - **Dividend Distribution Plan** - The company will distribute a cash dividend of 2.00 yuan (including tax) for every 10 shares held [2] - The record date for the dividend is set for September 26, 2025, and the ex-dividend date is September 29, 2025 [2]