证券代码：300910 证券简称：瑞丰新材 公告编号：2025-063 新乡市瑞丰新材料股份有限公司 2025年第二次临时股东会决议公告 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、本次股东会不存在否决议案的情形。 2、本次股东会不涉及变更以往股东会已通过的决议。 一、会议召开和出席情况 其中：通过深圳证券交易所交易系统进行网络投票的时间为2025年12月30 日的交易时间，即9:15-9:25，9:30-11:30和13:00-15:00；通过深圳证券交易所互 联网投票系统（http://wltp.cninfo.com.cn）投票的具体时间为：2025年12月30日 9:15-15:00期间的任意时间。 （二）会议召开地点：新乡县大召营镇（新获路北）公司会议室 （三）会议召开方式：采取现场投票与网络投票相结合的方式 （四）会议召集人：公司董事会 （五）会议主持人：公司董事长郭春萱先生 （六）本次股东会的召集、召开及表决方式符合《中华人民共和国公司法》 《上市公司股东会规则》《深圳证券交易所创业板股票上市规则》等有关法律、 行政法规、部门规 ...

证券代码：300910 证券简称：瑞丰新材 公告编号：2025-061 新乡市瑞丰新材料股份有限公司 第四届董事会第十三次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 三、备查文件 本次会议的召集、召开及表决符合《中华人民共和国公司法》及《新乡市瑞丰新 材料股份有限公司章程》（以下简称《公司章程》）的有关规定，会议合法有效。 二、董事会会议审议情况 1、审议通过《关于调整使用部分暂时闲置自有资金进行委托理财额度及期 限的议案》 基于公司及下属子公司经营情况和资金使用安排，为进一步优化公司资金配 置，提高自有资金使用效率，同意公司及子公司使用额度由不超过人民币 80,000.00 万元调整为不超过人民币 150,000.00 万元自有资金进行委托理财，有 效期自第四届董事会第十三次会议审议通过之日起 12 个月内。在上述额度及有 效期内，资金可循环滚动使用。原委托理财投资方向、品种、实施方式等均不变。 具体内容详见公司 2025 年 12 月 30 日披露于巨潮资讯网（http://www.cninf o.com.cn）的 ...

江苏世纪同仁律师事务所 关于新乡市瑞丰新材料股份有限公司 2025 年第二次临时股东会的法律意见书 新乡市瑞丰新材料股份有限公司： 根据《中华人民共和国公司法》（以下简称"《公司法》"）《中华人民共 和国证券法》《上市公司股东会规则》和《深圳证券交易所上市公司股东会网络 投票实施细则》等法律、法规和规范性文件以及《公司章程》的规定，本所受公 司董事会委托，指派本所律师出席公司 2025 年第二次临时股东会，并就本次股 东会的召集、召开程序、出席会议人员资格、召集人资格、表决程序以及表决结 果的合法有效性等事项出具法律意见。 为出具本法律意见书，本律师对本次股东会所涉及的有关事项进行了审查， 查阅了相关会议文件，并对有关问题进行了必要的核查和验证。 本律师同意将本法律意见书随公司本次股东会决议一并公告，并依法对本法 律意见书承担相应的责任。 本律师根据相关法律、法规和规范性文件的要求，按照律师行业公认的业务 标准、道德规范和勤勉尽责精神，出具法律意见如下： 一、关于本次股东会的召集和召开 1、本次股东会由公司董事会召集 2025 年 12 月 12 日，公司召开了第四届董事会第十二次会议，决定于 2025 年 ...

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。 新乡市瑞丰新材料股份有限公司（以下简称"公司"）于2025年7月30日召 开公司第四届董事会第九次会议及第四届监事会第八次会议，会议审议通过了 《关于使用部分暂时闲置自有资金进行委托理财的议案》，同意公司及子公司使 用额度不超过人民币80,000.00万元自有资金进行委托理财，有效期自第四届董事 会第九次会议审议通过之日起12个月内。在上述额度及有效期内，资金可循环滚 动使用。 基于公司及下属子公司经营情况和资金使用安排，为进一步优化公司资金配 置，提高自有资金使用效率，公司于2025年12月30日召开公司第四届董事会第十 三次会议，会议审议通过了《关于调整使用部分暂时闲置自有资金进行委托理财 额度及期限的议案》，同意公司及子公司使用额度由不超过人民币80,000.00万元 调整为不超过人民币150,000.00万元自有资金进行委托理财，有效期自第四届董 事会第十三次会议审议通过之日起12个月内。在上述额度及有效期内，资金可循 环滚动使用。原委托理财投资方向、品种、实施方式等均不变。具体情况如下： 一、委托理财的 ...

Group 1 - The core viewpoint of the report indicates that Brent crude oil prices are expected to stabilize around $65 per barrel by the end of 2025, with current prices showing slight increases of 0.28% for Brent and 0.39% for WTI compared to the previous week [1][3] - The report highlights significant price increases in battery-grade lithium carbonate (up 10.79%) and industrial-grade lithium carbonate (up 10.78%), while sulfur and liquid chlorine experienced notable declines of -6.33% and -5.86% respectively [2][4] - The chemical industry is currently facing a weak performance overall, influenced by past capacity expansions and weak demand, although some sub-sectors like lubricants are performing better than expected [4] Group 2 - Investment opportunities are suggested in sectors such as glyphosate, chemical fertilizers, and high-dividend assets, with specific recommendations for companies like Jiangshan Chemical, Xingfa Group, and Yangnong Chemical [4] - The report emphasizes the importance of domestic demand and the potential impact of export uncertainties on the chemical industry, particularly in nitrogen and phosphate fertilizers which have relatively inelastic demand [4] - The report recommends focusing on companies with high asset quality and dividend yields, particularly Sinopec, which stands to benefit from lower raw material costs due to declining oil prices [4]

Investment Rating - The report maintains a "Buy" rating for several companies including Xinyangfeng, Senqilin, Ruifeng New Materials, Sinopec, Juhua, Yangnong Chemical, CNOOC, Tongkun, Daotong Technology, and others [10]. Core Viewpoints - The report highlights significant price increases in battery-grade lithium carbonate (up 10.79%) and industrial-grade lithium carbonate (up 10.78%), while sulfur and liquid chlorine experienced notable declines [4][7]. - It suggests focusing on investment opportunities in areas such as import substitution, pure domestic demand, and high dividend stocks, particularly in light of the current geopolitical tensions affecting oil prices [6][18]. - The overall chemical industry remains under pressure, with mixed performance across sub-sectors due to past capacity expansions and weak demand, although some sectors like lubricants are performing better than expected [21]. Summary by Sections Chemical Industry Investment Suggestions - The report recommends paying attention to the glyphosate industry, which is showing signs of recovery with decreasing inventory and rising prices, suggesting potential investment in companies like Jiangshan Co., Xingfa Group, and Yangnong Chemical [21]. - It also emphasizes selecting stocks with strong competitive positions and growth potential, particularly in the lubricant additive sector and coal-to-olefins industry [21]. - The report notes that domestic demand for chemical fertilizers and certain pesticide sub-products remains robust, with companies like Hualu Hengsheng and China Heartlink Fertilizer being highlighted for investment [21]. Price Trends of Chemical Products - The report details recent price movements, with significant increases in battery-grade lithium carbonate and PTA, while products like sulfur and liquid chlorine saw declines [4][5][19]. - It mentions that the international oil price is expected to stabilize around $65 per barrel, which could benefit companies with high dividend yields and those that are sensitive to raw material cost reductions [6][18]. Market Dynamics - The report discusses the impact of geopolitical tensions on oil prices, particularly the situation in Venezuela and the EU's sanctions on Russia, which have contributed to recent price fluctuations [22][23]. - It highlights the weak trading atmosphere in the coal market, with prices declining due to limited demand and cautious market sentiment [29][30]. - The report notes that the polypropylene market is experiencing downward pressure due to weak demand and increased supply, while the PTA market is expected to remain strong due to ongoing inventory reduction [31][35].

Summary of Key Points from Conference Call Records Industry Overview Chinese Companies and Global Demand - Chinese listed companies maintain higher overseas gross margins compared to domestic margins, particularly in capital and technology-intensive industries, indicating a significant competitive advantage [1] - The global demand in 2026 is expected to be favorable for Chinese outbound enterprises, benefiting from the latter half of the Federal Reserve's easing cycle, with an uptrend in global industrial and infrastructure capital expenditure [1][5] Aviation Industry - The aviation sector is viewed as a major investment opportunity, with ticket prices showing positive year-on-year growth, serving as a catalyst for the industry [1][6] - Despite fluctuations in December ticket prices, strong travel demand during the holiday season is anticipated to support price increases post-New Year [6] - Recommended stocks include China National Aviation, Juneyao Airlines, China Eastern Airlines, Southern Airlines, and Spring Airlines [6] Shipping and Oil Transportation - The oil shipping market experienced significant price fluctuations recently, with a notable drop in TCE rates for VLOCs [7] - Long-term outlook remains optimistic due to increased oil production driving demand, with a recommendation to focus on COSCO Shipping Energy, China Merchants Energy Shipping, and China Ship Leasing [8] Chemical Industry - The chemical sector, particularly the spandex segment, is performing well, with Huafeng Chemical showing significant cost advantages and benefiting from demand growth [9] - Other noteworthy areas include coal chemical companies like Hualu Hengsheng and soda ash producers like Boyuan Chemical [9] Metals Sector - The metals sector is experiencing strong performance, with gold reaching new highs and significant increases in silver, copper, aluminum, and lithium carbonate prices [11] - The supply side remains rigid, and the demand recovery driven by liquidity and AI-related factors is expected to keep prices on an upward trend [11][12] Company-Specific Insights Coal Market - Current coal prices are declining, with expectations of stabilizing around 670 RMB/ton as a bottom [3][18] - The outlook for 2026 suggests a rebound in coal demand due to a recovery in thermal power generation [21] Petrochemical Industry - The petrochemical sector is optimistic for 2026, with signs of inventory replenishment and a favorable price index for products [16] - The polyester supply chain is particularly promising, with recommendations for Tongkun Co., New Fengming, and Hengyi Petrochemical [17] New Materials - Focus areas in the new materials sector include lubricant additives, storage materials, and AI-related high-speed technologies, with specific companies recommended for investment [10] Energy Metals - The lithium carbonate market is expected to remain strong due to increasing storage demand, with recommendations for stocks in the energy metals sector [14] Steel Industry - Leading steel companies like Nanjing Steel and Baosteel are seen as good investment opportunities despite recent adjustments, with a projected decline in capital expenditure for 2026 [15] Additional Considerations - The overall sentiment for the Chinese stock market in 2026 is optimistic, driven by economic reforms and increased capital inflows [3] - The impact of monetary policy, geopolitical factors, and supply uncertainties on various sectors should be closely monitored [2]

Core Viewpoints - The chemical industry is at the bottom of the cycle in 2025, with both investment in cyclical sectors and thematic trends progressing simultaneously. Since Q3 2025, global manufacturing has shown signs of recovery, but demand growth is slowing, leading to a decline in the PPI of chemical products year-on-year [1][65] - On the demand side, the domestic real estate market is at a cyclical low, while sales of new energy vehicles continue to grow significantly. Retail sales are stabilizing, supported by ongoing consumption promotion policies [1][65] - On the supply side, China has become a global leader in the chemical industry, while the manufacturing and chemical production capacity utilization rates in the EU have been declining, particularly in Germany, where the production of basic chemicals has been continuously decreasing [1][65] Group 1: Chemical Industry Overview - The chemical industry is experiencing a prolonged bottoming phase, with a three-year duration already observed. The potential for a turnaround may be approaching [1][65] - The PPI of chemical products has been under pressure, with year-on-year declines noted in major economies, including China, the EU, and Japan [9][74] - The domestic chemical industry is facing a situation of excess supply, which is exerting short-term pressure on prices, while the inventory cycle is still in a passive replenishment phase [1][65] Group 2: Demand Side Analysis - The domestic real estate market is at a cyclical low, with significant declines in new construction and sales figures. The cumulative sales area of new commercial housing in major cities has decreased by 11% year-on-year [18][25] - Sales of new energy vehicles in China have maintained high growth, with a year-on-year increase of 19% in the first eleven months of 2025, indicating strong market demand [25][28] - Retail sales in China have shown a steady improvement, with a growth rate of 4% year-on-year for the first eleven months of 2025, supported by consumption promotion initiatives [28][29] Group 3: Supply Side Analysis - China has replaced Europe and the US as the global leader in chemical production, with a year-on-year increase of 8% in output, while the EU and Germany have seen declines [30][36] - The production capacity in the EU has been declining, particularly in Germany, where the output of various basic chemicals has dropped significantly compared to 2019 levels [36][37] - The investment in basic chemical projects in China has turned negative, indicating a potential shift in the supply landscape as excess capacity begins to face clearing risks [1][65] Group 4: Investment Recommendations - The report suggests focusing on low-valuation leading companies and sectors with improving supply-demand dynamics, including major players in the chemical industry such as Wanhua Chemical, Hualu Hengsheng, and others [3][67] - The fertilizer sector is expected to benefit from slowing capacity growth and increasing overseas demand, which may support price increases [66] - The tire market is showing signs of recovery, with domestic leading companies expanding their global production bases, indicating a positive outlook for the sector [66]

Summary of Key Points Core Viewpoint - 瑞丰新材 (300910) has experienced a slight increase in stock price, with a recent announcement regarding a significant share reduction by a major shareholder, which does not affect the company's control structure [1]. Group 1: Stock Performance - As of December 18, 2025, 瑞丰新材 closed at 58.3 yuan, up 0.66% from the previous trading day [1]. - The stock opened at 57.65 yuan, reached a high of 59.2 yuan, and a low of 57.51 yuan, with a trading volume of 81.05 million yuan and a turnover rate of 0.67% [1]. Group 2: Shareholder Activity - 中国石化集团资本有限公司, a shareholder with over 5% ownership, completed a share reduction plan, selling a total of 2,959,300 shares, which represents 1.00% of the company's total share capital [1]. - The reduction occurred between November 25 and December 18, 2025, with an average selling price of 57.17 yuan per share [1]. - Following this reduction, 中石化资本's ownership percentage decreased from 12.18% to 11.18% [1]. - The share reduction was conducted in compliance with relevant laws and regulations and did not lead to a change in the company's control [1].

关于持股5%以上股东减持结果的公告 持股5%以上股东中国石化集团资本有限公司保证向本公司提供的信息内 容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 证券代码：300910 证券简称：瑞丰新材 公告编号：2025-060 新乡市瑞丰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。 新乡市瑞丰新材料股份有限公司（以下简称"公司"）于2025年11月3日在 巨潮资讯网披露了《关于持股5%以上股东减持股份预披露公告》（公告编号：2 025-052）（以下简称"本次减持计划"）。 持有新乡市瑞丰新材料股份有限公司（以下简称"公司"、"瑞丰新材"） 股份36,040,900股（占公司总股本比例12.18%，占剔除回购专用账户股份数量后 公司股份总数的12.41%）的股东中国石化集团资本有限公司（以下简称"中石化 资本"）计划以集中竞价交易方式拟减持公司股份不超过2,959,300股，减持比例 不超过公司总股本的1%，占剔除回购专用账户股份数量后公司股份总数的1.02% （如遇派息、送股、转增股本、配股等除权除息事项，上述拟减持股份数量将相 应进行调整）。 通过集中竞价交 ...