战略布局特种电子布，产业化进程稳步推进。终端算力需求提升推动PCB-CCL 材料整体升级，特种电 子布在价值量和需求量上大幅增长。性能方面，Low Dk 一代、二代及石英Q 布在Dk 和Df 指标上持续 优化，附加值提升；同时，下游M7、M8、M9覆铜板的放量加速了对特种电子布的需求。估算2026 年 特种电子布市场空间约178亿，YOY+205%。公司加大高端电子级玻纤的研发与产线投入，已具备薄布 与超薄布的研发及量产能力；同时，低介电、低膨胀产品的开发、验证与导入进程正稳步推进，技术壁 垒持续强化。公司作为全球玻纤行业龙头，研发体系及成本管控优势显著，为后续产业化放量提供有力 支撑。 粗纱景气向上，波折前行。供给端，预计26 年供给增速为5.8%，较25 年增速进一步减缓；同时考虑到 各家厂商或通过对新线延迟点火、老线提前冷修控制产能合理增加，因此不排除实际供给增速低于测算 值。需求端，考虑到2025 年风电招标规模仍维持在高位，预计风电纱需求仍保持较强韧性，预计26 年 粗纱需求增速4.1%。价格端，25 年9 月玻纤工业协会联合中国巨石等骨干企业共同发布《关于玻纤及 制品行业反对"内卷式"竞争、共同建 ...

（文章来源：证券日报） 证券日报网讯 1月9日，首钢股份发布公告称，公司2025年股票期权与限制性股票激励计划获北京市国 资委原则同意，尚需股东会审议后方可实施。 ...

中国铝业（601600）1月8日晚间发布公告，因工作需要，蒋涛辞去公司执行董事、副总经理及董事会 ESG委员会委员职务；另外，提名两位董事候选人。 同日，公司召开第九届董事会第九次会议，审议通过了《关于提名公司第九届董事会董事候选人的议 案》，同意提名张瑞忠为公司第九届董事会执行董事候选人，提名郭刚为公司第九届董事会非执行董事 候选人，并提交公司股东会履行选举程序。 其中，张瑞忠，现任本公司总经理、党委副书记，在有色金属冶炼、材料工程合金技术及企业管理方面 拥有丰富经验，曾担任过山东华宇合金材料有限公司铝加工事业部直属党支部书记、经理，中铝山西新 材料有限公司副总经理，包头铝业（600472）有限公司副总经理、执行董事、党委书记、董事长，内蒙 古华云新材料有限公司董事长，包头铝业(集团)有限责任公司董事长。 郭刚在审计、企业管理等方面拥有丰富经验，曾在鑫宏轻金属有限公司、中国有色金属工业总公司、国 家有色金属工业局等任职，担任过中国铝业公司办公厅秘书处副处长等职务，现任中国铝业集团有限公 司所属企业专职董事、包头铝业有限公司董事及中铝海外发展有限公司董事。 目前张瑞忠持有公司A股股份14.71万股，为公司20 ...

Financial Data and Key Metrics Changes - The company will release its quarter one results and host an earnings call with analysts on January 8, 2026, providing insights into financial performance [5] - The meeting included a vote on the advisory compensation of named executive officers, which was approved, indicating shareholder support for executive pay practices [7][12] Business Line Data and Key Metrics Changes - No specific data on business line performance was provided during the meeting [2][3] Market Data and Key Metrics Changes - No specific market data or metrics were discussed in the meeting [2][3] Company Strategy and Development Direction - The board emphasized the importance of aligning executive compensation with financial and business goals to attract and retain top executives, which is part of the overall strategy to generate shareholder value [7][8] - An amendment to the 2021 Stock Incentive Plan was proposed to add one million shares to the pool, aimed at motivating officers and aligning their interests with shareholders [8][9] Management Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during the meeting [2][3] Other Important Information - The company’s board recommended increasing the number of authorized shares of common stock from 50 million to 100 million, which was approved by shareholders [9][12] - KPMG was ratified as the company's independent auditor for fiscal year 2026 [10][12] Q&A Session Summary - No questions were received from shareholders during the Q&A session, leading to the conclusion of the meeting without any inquiries being addressed [13][15]

智通财经APP讯，金山软件(03888)发布公告，于2025年12月29日，金山办公董事会已决议根据金山办公 2025年股票激励计划预留授予，向47名激励参与者(包括金山办公多名核心管理人员及技术骨干)授予合 共66.9万股限制性股票，授予价格为每股限制性股票人民币150.56元，以在表扬激励参与者所作的贡献 并留住金山办公集团所聘的优秀人才。 ...

智通财经APP讯，金山软件(03888)发布公告，于2025年12月29日，金山办公董事会已决议根据金山办公 2025年股票激励计划预留授予，向47名激励参与者(包括金山办公多名核心管理人员及技术骨干)授予合 共66.9万股限制性股票，授予价格为每股限制性股票人民币150.56元，以在表扬激励参与者所作的贡献 并留住金山办公集团所聘的优秀人才。 ...

智通财经APP讯，*ST花王(603007.SH)披露2025年股票期权与限制性股票激励计划(草案)，拟授予激励 对象权益总计1200万份/万股，约占激励计划草案公告日公司股本总额的1.37%，首次授予1089万份/万 股，首次授予激励对象总人数为16人。拟授予激励对象的股票期权数量为330万份，拟授予激励对象的 限制性股票数量为870万股，股票期权的行权价格为5.51元/股，限制性股票的授予价格为2.76元/股。 ...

Core Viewpoint - Huabao International (00336) announced that its main subsidiary, Huabao Fragrance Co., Ltd., plans to adopt a restricted stock incentive plan for 2025 aimed at enhancing its long-term incentive mechanism to attract and retain talent [1] Group 1 - The stock incentive plan is designed to effectively align the interests of Huabao's shareholders with those of its core team, focusing on the long-term development of the company [1] - The plan targets directors, senior management, core management, technical and business personnel, as well as other individuals deemed necessary for incentives by Huabao's board [1] - The initiative aims to ensure that all parties are committed to the long-term growth of Huabao and to safeguard the interests of its shareholders [1]

Core Viewpoint - Huabao International (00336) announced that its main subsidiary, Huabao Fragrance Co., Ltd., plans to adopt a restricted stock incentive plan for 2025 aimed at enhancing its long-term incentive mechanism to attract and retain talent [1] Group 1 - The stock incentive plan is designed to effectively align the interests of Huabao's shareholders with those of its core team, focusing on the long-term development of the company [1] - The plan targets directors, senior management, core management, technical and business personnel, as well as other individuals deemed necessary for incentive by Huabao's board [1] - The initiative aims to ensure that all parties are committed to the long-term growth of Huabao and to safeguard shareholder interests [1]

Investment Rating - The investment rating for the company is "Buy" and is maintained [9]. Core Insights - The company's stock incentive plan is the largest in its history, covering 1,082 individuals and granting 20 million shares, reflecting confidence in future growth and a commitment to sharing development results with employees [2][8]. - The company is focusing on four main growth areas: overseas expansion, 3D intelligence, precision agriculture, and smart driving, which are expected to drive long-term growth [8]. - The projected net profit for 2025 is 730 million yuan, representing a year-on-year increase of 25%, with further growth expected in subsequent years [8]. Summary by Sections Incentive Plan - The incentive plan involves granting up to 20 million restricted stocks, accounting for 2.5471% of the total share capital, with an initial grant of 18 million shares [7]. - The grant price is set at 27.08 yuan per share, based on 80% of the average price over the previous 20 trading days [7]. Growth Areas - **Overseas Expansion**: The company anticipates that overseas revenue will reach 29% in 2024, with a gross margin of 77.6%, significantly higher than the domestic market [8]. - **3D Intelligence**: The company has completed the domestic replacement of core components and is seeing positive growth after investing in sales resources [8]. - **Precision Agriculture**: The company has developed an automatic navigation control system for agricultural machinery, with plans to replicate this success in other agricultural equipment [8]. - **Smart Driving**: The company is a designated supplier for several automotive manufacturers, with over 300,000 units delivered [8]. Financial Projections - The company expects net profits of 733 million yuan, 930 million yuan, and 1.207 billion yuan for 2025, 2026, and 2027, respectively, with growth rates of 26%, 27%, and 30% [8].