国投证券股份有限公司 关于宁波星源卓镁技术股份有限公司 （二）向不特定对象发行可转换公司债券募集资金 根据中国证券监督管理委员会《关于同意宁波星源卓镁技术股份有限公司向 不特定对象发行可转换公司债券注册的批复》（证监许可[2025]2265号），公司向 不特定对象发行可转换公司债券4,500,000张，每张面值为人民币100.00元，按面 值发行，发行总额为人民币450,000,000.00元。公司可转换公司债券募集资金总 额450,000,000.00元，扣除相关发行费用后，实际募集资金净额为人民币 1 443,754,716.99元。上述募集资金已由容诚会计师事务所（特殊普通合伙）进行 验证，出具了《验资报告》（容诚验字[2025]230Z0143号）。 二、募集资金投资项目情况 （一）首次公开发行募集资金投资项目情况 根据《宁波星源卓镁技术股份有限公司首次公开发行股票并在创业板上市招 股 说 明 书 》（ 以 下 简 称 " 招 股 说 明 书 " ） 以 及 公 司 在 巨 潮 资 讯 网 （www.cninfo.com.cn）披露的《关于使用部分超募资金永久补充流动资金的公告》 《关于使用超募资金投 ...

Group 1 - The core viewpoint of the article is that the company, Xingyuan Zhuomei, is enhancing its risk resistance capabilities through diversified strategies [1] Group 2 - The company responded to investor inquiries on November 25, indicating its commitment to a diversified layout [1]

Core Viewpoint - The company, Xingyuan Zhuomei, has diversified its supply chain for equipment and currently possesses the JSW brand semi-solid injection equipment [2] Group 1 - The company responded to investor inquiries on November 25, indicating its advancements in equipment supply chain diversification [2]

Group 1 - The company, Xingyuan Zhuomai, is recognized as a leading enterprise in the domestic semi-solid magnesium alloy components sector [2] - The company has diversified its supply chain for equipment, currently utilizing JSW brand semi-solid injection equipment [2] - The company is addressing investor concerns regarding the progress of domestic equipment localization in the context of national emphasis on self-sufficiency in industrial chains [2]

格隆汇11月25日丨星源卓镁(301398.SZ)在投资者互动平台表示，公司拥有JSW品牌半固态注射设备，当 前在设备供应链上已实现多元化布局。 ...

| 证券代码：301398 | 证券简称：星源卓镁 | 公告编号：2025-057 | | --- | --- | --- | | 债券代码：123260 | 债券简称：卓镁转债 | | 宁波星源卓镁技术股份有限公司 二、募集资金监管协议签订情况及募集资金专户开立情况 为了规范公司募集资金的存放、使用和管理，维护投资者的合法权益，确保 公司募投项目顺利开展，提高募集资金使用效率，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，公司及全资子公司星源卓镁（宁 波奉化）技术有限公司分别与保荐机构国投证券股份有限公司、募集资金开户银 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： 1 | 账户名称 | 开户银行 账号 | 募集资金用途 | | --- | --- | --- | | 宁波星源卓镁技术 | 中信银行宁波自贸区支行 8114701013400564226 | 年产 万套汽车用高 300 强度大型镁合金精密成 | | 股份有限公司 | | | | | | 型件项目 | | 星源卓镁（宁波奉 ...

Group 1 - The core viewpoint of the news is that Xingyuan Zhuomei's stock price increased by 5.17% to 47.61 CNY per share, with a trading volume of 113 million CNY and a turnover rate of 7.30%, resulting in a total market capitalization of 5.332 billion CNY [1] - Xingyuan Zhuomei, established on July 16, 2003, and listed on December 15, 2022, specializes in the research, production, and sales of magnesium alloy and aluminum alloy precision die-casting products and supporting die-casting molds [1] - The revenue composition of Xingyuan Zhuomei includes 68.00% from magnesium alloy die-casting parts, 21.43% from aluminum alloy die-casting parts, 9.46% from molds, and 1.11% from other sources [1] Group 2 - From the perspective of fund holdings, one fund under Xingzheng Global Fund has a significant position in Xingyuan Zhuomei, with the Xingquan Antai Stable Pension One-Year Holding Mixed Fund (FOF) A holding 6,100 shares, accounting for 0.04% of the fund's net value, ranking as the ninth largest holding [2] - The Xingquan Antai Stable Pension One-Year Holding Mixed Fund (FOF) A was established on November 26, 2020, with a latest scale of 659 million CNY, achieving a return of 7.94% this year, ranking 695 out of 1,038 in its category [2] - The fund manager, Liu Xiao, has been in position for 3 years and 163 days, with the fund's total asset scale at 3.832 billion CNY, achieving a best return of 16.9% and a worst return of 0.2% during his tenure [3]

从它的日K线图上看，它近期的股价走势连续多日下跌，因此导致卓镁转债的转股价值大幅下调。而正 股出现这样的走势与市场中的大多数个股都是类似，因为就连大盘也出现了幅度较大的回调。 在近期市场剧烈震荡的背景下，不少股民心头蒙上了一层阴霾。眼看着账户里的浮盈忽高忽低，有人不 禁忧心忡忡：这轮好不容易点燃的行情，难道刚冒个头就要熄火？更有悲观者断言，行情或将重回"阴 跌不止"的老路，再度陷入漫漫熊市的泥潭。 这种情绪，完全可以理解——毕竟面对真金白银的起伏，谁都会心跳加速。但若我们跳出短期波动的迷 雾，把目光投向更宏观的政策风向，或许会发现另一番景象。 11月24日，可转债打新市场迎来星源卓镁（301398）发行的可转债——卓镁转债上市交易。它的发行规 模仅为4.50亿元，规模偏小。 卓镁转债对应的正股当前股价为45.27元，转股价为52.30元，转股价值为86.56，转股价值偏低。不过， 鉴于现在新可转债在上市之初的高溢价率，预估它还是一只打新收益为300元左右的铂金级肉签一枚， 股民中到即赚到！ 星源卓镁当前的股票总市值为50.70亿元，动态市盈率为84.36倍，市净率为4.52倍。 回溯过去，中国资本市场的每一次 ...

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - In the week from November 17 - 21, 2025, the stock market oscillated downward due to factors like geopolitical tensions, concerns about overseas AI bubbles, and weakening interest - rate cut expectations. The bond market had a narrow - range oscillation. The convertible bond market mostly declined, with the CSI Convertible Bond Index down 1.78% for the week, the price median down 1.89%, and the arithmetic average parity down 6.70%. The overall market conversion premium rate increased by 7.72% compared to the previous week [1][8][9]. - During the period from November 24 - 28, 2025, the convertible bond market showed strong resilience during the A - share adjustment. Fed officials' dovish signals may improve market sentiment, and the convertible bond asset prices have strong bottom support. Attention should be paid to sectors such as energy storage, power, semiconductor equipment and materials, photovoltaic, and chemical industries, and high - volatility underlying stocks in balanced convertible bonds or low - premium equity - biased individual bonds should be selected [2][18]. Summary by Relevant Catalogs Market Trends - **Stock Market**: In the week from November 17 - 21, 2025, the market oscillated downward. All Shenwan primary industries closed down. Banks (-0.89%), media (-1.25%), food and beverage (-1.44%), national defense and military industry (-1.72%), and household appliances (-2.30%) performed relatively well, while power equipment (-10.54%), comprehensive (-9.18%), basic chemicals (-7.47%), and commercial retail (-7.24%) performed poorly [8][9]. - **Bond Market**: At the beginning of the week, the capital was tight, and it became balanced and loose in the second half of the week. The bond market had a narrow - range oscillation, and the 10 - year Treasury bond rate closed at 1.82% on Friday, up 0.26bp from the previous week [1][9]. - **Convertible Bond Market**: Most convertible bond individual bonds declined. The CSI Convertible Bond Index was down 1.78% for the week, the price median was down 1.89%, and the arithmetic average parity was down 6.70%. The overall market conversion premium rate increased by 7.72% compared to the previous week. The total trading volume of the convertible bond market last week was 318.036 billion yuan, with an average daily trading volume of 63.607 billion yuan, a decrease from the previous week [1][9][16]. Valuation Overview - As of November 21, 2025, for equity - biased convertible bonds, the average conversion premium rates in different price ranges are at relatively high percentile values. For debt - biased convertible bonds, the average YTM of those with a parity below 70 yuan is -4.27%, at the 1%/4% percentile since 2010/2021. The average implied volatility of all convertible bonds is 46.1%, at the 93%/99% percentile since 2010/2021 [19]. Primary Market Tracking - **Last Week (November 17 - 21, 2025)**: Maolai Convertible Bond was announced for issuance, and Qizhong Convertible Bond was listed. Maolai Convertible Bond has a scale of 563 million yuan, and Qizhong Convertible Bond has a scale of 850 million yuan [27][28]. - **Next Week (November 24 - 28, 2025)**: Zhuomei Convertible Bond is expected to be listed, with a scale of 450 million yuan [29][30]. - **Approval Progress**: Last week, 2 companies including Aohong Electronics and Pulian Software got registration approval, 1 company including Chunfeng Power passed the listing committee review, 4 companies including Haoneng Co., Ltd. passed the general meeting of shareholders, and 1 company including Zhaomin Technology had a board of directors' plan. As of now, there are 95 convertible bonds to be issued, with a total scale of 143.93 billion yuan [31].

Core Viewpoint - The company, Xingyuan Zhuomei, announced the issuance of convertible bonds, indicating a strategic move to raise capital through the bond market [1] Group 1 - The total amount of the issued convertible bonds is 450 million yuan [1] - The total issuance volume is 4.5 million bonds [1] - The bonds will be listed on the Shenzhen Stock Exchange, with a listing date set for November 24, 2025 [1]