中国经济网北京11月21日讯 万凯新材(301216.SZ) 昨晚发布关于公司及相关人员收到中国证券监督 管理委员会浙江监管局警示函的公告。公司于2025年11月20日收到浙江证监局出具的《关于对万凯新材 料股份有限公司及相关人员采取出具警示函措施的决定》（〔2025〕281号）（以下简称"警示函"）。 根据《上市公司信息披露管理办法》(证监会令第182号)第五十二条、《上市公司信息披露管理办 法》(证监会令第226号)第五十三条规定，浙江证监局决定对万凯新材、沈志刚、高强、肖海军分别采 取出具警示函的监督管理措施，并记入证券期货市场诚信档案。 万凯新材表示，本次行政监管措施不会影响公司正常的经营管理活动，公司将继续严格按照有关法 律法规、规范性文件的规定和相关监管要求及时履行信息披露义务。敬请广大投资者理性投资，注意投 资风险。 此外，2025 年11 月20日，深交所创业板公司管理部发布关于对万凯新材料股份有限公司及相关当 事人的监管函（创业板监管函〔2025〕第139号）。根据浙江证监局《关于对万凯新材料股份有限公司 及相关人员采取出具警示函措施的决定》（〔2025〕281号）查明的事实，万凯新材存在以 ...

万凯新材（301216）(301216.SZ)公告，公司于2025年11月20日收到浙江证监局出具的《关于对万凯新 材料股份有限公司及相关人员采取出具警示函措施的决定》。浙江证监局在对公司现场检查中发现，公 司开展期货套期保值业务，但在定期报告中仅披露期货端单边投资收益及公允价值变动损益情况，未完 整披露对应现货订单盈亏情况，相关期货投资损益对公司业绩影响较大;此外，公司部分募集资金专户 开户未审议，短期闲置募集资金理财金额超审议额度。 ...

| 证券代码：301216 | 证券简称：万凯新材 | 公告编号：2025-063 | | --- | --- | --- | | 债券代码：123247 | 债券简称：万凯转债 | | 万凯新材料股份有限公司 令第226号)第五十三条规定，我局决定对你们分别采取出具警示函的监督管理措 施，并记入证券期货市场诚信档案。你们应严格遵守有关法律法规，提高规范运 作意识，杜绝类似情况再次发生。请你们在收到本决定书之日起10个工作日内向 我局提交书面报告。 如果对本监督管理措施不服的，可以在收到本决定书之日起60日内向中国证 券监督管理委员会提出行政复议申请，也可以在收到本决定书之日起6个月内向 有管辖权的人民法院提起诉讼。复议与诉讼期间，上述监督管理措施不停止执 行。" 二、相关情况说明 关于公司及相关人员收到中国证券监督管理委员会 浙江监管局警示函的公告 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。 万凯新材料股份有限公司（以下简称"公司"）于2025年11月20日收到中国 证券监督管理委员会浙江监管局（以下简称"浙江证监局"）出具的《关于对万 凯新材料股份有限 ...

Core Viewpoint - The company received a warning letter from the Zhejiang Regulatory Bureau of the China Securities Regulatory Commission, indicating issues with its financial disclosures and management of raised funds [1] Group 1: Regulatory Issues - The warning letter highlighted that the company only disclosed one-sided investment income and fair value changes related to futures in its periodic reports, failing to fully disclose the corresponding gains and losses from spot orders [1] - It was noted that some accounts for raised funds were opened without proper review, and the amount of short-term idle raised funds invested in financial products exceeded the approved limit [1] - The company and relevant personnel are required to strictly follow the regulations and will submit a written rectification report [1] Group 2: Compliance Violations - The company violated the "Management Measures for Information Disclosure of Listed Companies" and the "Regulatory Requirements for the Management and Use of Raised Funds" as outlined in the second regulatory guideline for listed companies [1]

Group 1: Oil and Gas Exploration - The supply of oil is expected to slow down, maintaining Brent oil prices in a neutral range of $55-70 per barrel in 2026, with OPEC+ production pace easing and non-OPEC growth significantly declining [3][9] - Global GDP growth is projected at approximately 3.1% in 2026, leading to a slowdown in oil demand growth [3][9] - Geopolitical uncertainties are increasing, with ongoing sanctions on risk oil types, although some expectations are already priced into stock valuations [3][9] Group 2: Refining Industry - The refining sector is anticipated to see a recovery in profitability due to domestic "anti-involution" policies and the gradual exit of overseas refining capacity [4] - New refining capacity additions are nearing completion, but there will still be significant pressure on the supply side in the coming years [4] - The overall refining sector is expected to have reached a bottom in terms of profitability, with substantial potential for upward elasticity in the future [4] Group 3: Polyester Industry - The polyester industry is expected to experience limited new investment, with significant recovery potential in profitability due to the end of large capital expenditures in PTA and coordinated production cuts by leading companies [5] - The production capacity growth for polyester filament is projected to maintain a rate of 2-3%, with expectations for improved downstream demand [5] - The industry is nearing the end of new capacity releases for polyester bottle chips, leading to an ideal collaborative effect among companies and gradual recovery in profitability [5] Group 4: Investment Recommendations - The downstream polyester sector is tightening in supply and demand, with improvement expectations, recommending high-quality companies in polyester filament and bottle chips [6] - With oil prices expected to decline, refining companies are anticipated to see cost improvements, suggesting attention to major refining companies [6] - The upstream exploration and development sector remains highly prosperous, with offshore capital expenditures expected to remain high, recommending offshore oil service companies [6]

Core Viewpoint - WanKai New Materials experienced a stock price decline of 2.02% on November 19, with a current price of 17.47 CNY per share and a total market capitalization of 10.117 billion CNY [1] Financial Performance - For the period from January to September 2025, WanKai New Materials reported a revenue of 12.436 billion CNY, representing a year-on-year decrease of 5.43%. However, the net profit attributable to shareholders increased by 183.45% to 77.5944 million CNY [2] - The company has distributed a total of 325 million CNY in dividends since its A-share listing, with 256 million CNY distributed over the past three years [3] Stock Market Activity - As of November 19, the stock has increased by 73.81% year-to-date, but has seen a decline of 3.64% over the last five trading days and 10.46% over the last 20 days [1] - The number of shareholders decreased by 5.78% to 26,600, while the average number of circulating shares per person increased by 7.28% to 20,578 shares [2] Shareholder Composition - As of September 30, 2025, notable changes in the top ten circulating shareholders include the exit of Morgan Emerging Power Mixed A and Huaxia Industry Prosperity Mixed A from the list [3] Company Overview - WanKai New Materials, established on March 31, 2008, and listed on March 29, 2022, specializes in the research, production, and sales of polyester materials, with bottle-grade PET accounting for 97.51% of its main business revenue [1]

Core Viewpoint - The PET industry is experiencing an improvement in supply-demand structure and processing fee levels, leading to a stable operational performance for the company [1] Group 1: Company Operations - The company has implemented industry initiatives since July to combat internal competition, resulting in a decrease in overall production load due to scheduled maintenance [1] - The company emphasizes a commitment to steady operations and aims to reward investors through performance and long-term value growth [1] Group 2: Industry Context - The overall supply-demand structure of the PET industry continues to improve, with processing fees showing a positive recovery trend [1]

（编辑 王雪儿） 证券日报网讯 万凯新材11月18日在互动平台回答投资者提问时表示，公司与Carbios的相关合作事项正 在按既定节奏稳步推进，目前各项沟通正常、推进有序。需要披露的重大事项，公司会严格按监管要求 及时履行审议和披露义务，相关情况敬请以官方披露为准。 ...

格隆汇11月18日丨万凯新材(301216.SZ)在投资者互动平台表示，灵心巧手与公司不存在借壳上市的安 排或计划。目前，双方的合作主要包括股权投资以及轻量化精密加工等业务层面的合作，相关事项若未 来达到信息披露标准，公司将按监管要求履行审议和披露义务。 ...

格隆汇11月18日丨万凯新材(301216.SZ)在投资者互动平台表示，灵心巧手与公司不存在借壳上市的安 排或计划。目前，双方的合作主要包括股权投资以及轻量化精密加工等业务层面的合作，相关事项若未 来达到信息披露标准，公司将按监管要求履行审议和披露义务。 ...