Group 1 - The company, Shandong Jinjing Technology Co., Ltd., has approved an increase in bank credit limits for its subsidiaries to support normal production and operational needs [1][2] - The subsidiaries applying for the credit increase are Tengzhou Jinjing Glass Co., Ltd. and Jinjing Technology Malaysia SDN.BHD., with proposed new credit limits of 80 million yuan and 30.41 million yuan (equivalent to 18 million ringgit) respectively [1][2] - The board of directors has confirmed that the necessity for the credit increase is sufficient and the intended use of the funds is legal and compliant [2]

第三条 信息披露义务人应当真实、准确、完整、及时、公平地披露信息， 不得滥用暂缓或者豁免披露规避信息披露义务、误导投资者，不得实施内幕交 易、操纵市场等违法行为。 第四条 公司应当披露的信息存在相关法律法规及规范性文件中规定的暂缓、 豁免情形的，由信息披露义务人自行审慎判断暂缓或豁免披露，履行内部审核 程序后实施，并接受中国证监会和上海证券交易所对有关信息披露暂缓、豁免 事项的事后监管。 山东金晶科技股份有限公司 信息披露暂缓与豁免管理制度 第一章 总则 第一条 为规范山东金晶科技股份有限公司（以下简称"公司"）的信息披露 暂缓与豁免行为，确保公司和相关信息披露义务人（以下简称"信息披露义务 人"）依法合规地履行信息披露义务，加强信息披露事务管理，切实保护公司投 资者及其他利益相关者的合法权益，根据《中华人民共和国公司法》《中华人民 共和国证券法》《上市公司信息披露管理办法》《上市公司信息披露暂缓与豁免 管理规定》、《上海证券交易所股票上市规则》（以下简称"《股票上市规则》"）、 《上海证券交易所上市公司自律监管指引第 2 号——信息披露事务管理》等法 律、法规及《公司章程》的有关规定，制定本制度。 第二条 ...

Core Viewpoint - The report highlights significant declines in revenue and profit for Shandong Jinjing Science & Technology Co., Ltd. in the first half of 2025, primarily due to a downturn in the glass and soda ash industries, alongside challenges in the photovoltaic glass sector [1][2]. Financial Performance - The company's operating income for the first half of 2025 was approximately CNY 2.39 billion, a decrease of 32.56% compared to CNY 3.55 billion in the same period last year [2]. - Total profit for the period was a loss of approximately CNY 131.37 million, a decline of 141.28% from a profit of CNY 318.29 million in the previous year [2]. - The net profit attributable to shareholders was a loss of about CNY 96.27 million, down 135.04% from a profit of CNY 274.77 million [2]. - The net cash flow from operating activities was CNY 224.43 million, a decrease of 57.86% from CNY 532.61 million [2]. Industry Overview - The glass industry faced a demand downturn in the first half of 2025, with a 20% decline in new construction and sales in the real estate sector, leading to a significant drop in sales prices [3][9]. - The soda ash industry is experiencing rapid capacity expansion, with total domestic capacity expected to reach 44.5 million tons by the end of 2025, resulting in increased inventory and declining sales prices [3][9]. - The photovoltaic glass sector is also under pressure, with a 20% year-on-year decline in mainstream product prices, although the long-term outlook remains positive due to ongoing technological innovations [3][9]. Business Operations - The company has a diversified product portfolio, including construction and energy-saving glass, soda ash, and photovoltaic glass, with a focus on green energy and sustainable building materials [3][9]. - The company completed a significant cold repair project for its production line, enhancing its capacity and efficiency, and has initiated several projects aimed at reducing costs and improving product quality [9][10]. - The company emphasizes the importance of investor returns, planning to distribute cash dividends totaling approximately CNY 20.96 million [10]. Strategic Focus - The company is committed to enhancing its core competitiveness through innovation and technology upgrades, aiming to transition towards a model centered on new productive forces [10][11]. - The company actively engages with investors to communicate its value and operational strategies, enhancing transparency and trust [11].

格隆汇8月25日丨金晶科技(600586.SH)公布2025年半年度报告，报告期实现营业收入23.94亿元，同比下 降32.56%；归属于上市公司股东的净利润-9626.95万元；基本每股收益-0.0681元。 ...

人民财讯8月25日电，金晶科技（600586）8月25日晚间披露2025年半年报，上半年实现营业收入23.94 亿元，同比下降32.56%；归母净利润-9626.95万元，同比由盈转亏；基本每股收益-0.0681元。 ...

南财智讯8月25日电，金晶科技发布2025年半年度报告，报告期实现营业收入23.94亿元，同比下降 32.56%；归属上市公司股东的净利润-0.96亿元，同比下降135.04%；扣除非经常性损益后的归属于上市 公司股东的净利润-1.21亿元，同比下降146.18%；基本每股收益-0.0681元。 ...

截止8月21日，全国浮法玻璃样本企业总库存6360.6万重箱，环比+18万重箱，环比+0.28%，同 比-7.37%。折库存天数27.2天，较上期+0.1天。 玻璃主力合约日内大幅走高，现报1191.00元/吨，涨幅达2.23%。 【消息面汇总】 上周，以天然气为燃料的浮法玻璃周均利润-192.84元/吨，环比减少21.48元/吨；以石油焦为燃料的浮法 玻璃周均利润环比下降52.19元/吨至35.52元/吨；以煤制气为燃料的浮法玻璃周均利润101.55元/吨，环 比增加9.45元/吨。 金信期货：玻璃期货2601当前处于多空博弈的关键节点。空头凭借供需失衡和库存较高进行反扑，但价 格下跌也跌出了潜在的做多黄金坑，企业挺价预期、技术反抽可能以及需求改善预期都为多头提供了反 击的力量。此外，市场预期也存在转向的可能。虽然当前房地产市场低迷，但随着传统旺季的临近，市 场是否会出现补库需求从而释放新的需求，值得期待。如果后续需求端出现改善，比如房地产政策进一 步放松刺激需求，或者其他新兴领域对玻璃需求大幅增长，那么玻璃期货价格将迎来反转。交易层面， 若后续日线能收盘高于1240，从技术层面看，玻璃2601合约才有机会 ...

交易咨询业务资格：证监许可【2012】1091号 大越期货投资咨询部 胡毓秀 从业资格证号：F03105325 投资咨询证号：Z0021337 联系方式：0575-85226759 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 玻璃周报 2025.8.18-8.22 上周玻璃期货先抑后扬，主力合约FG2601收盘较前一周下跌3.14%报1173元/吨。现 货方面，河北沙河白玻大板报价1072元/吨，较前一周下跌1.47%。 宏观政策利好消退，行情回归基本面逻辑。供给方面，玻璃现货价格回落，行业冷 修高位，上周全国浮法玻璃生产线在产223条，开工率75.34%，日熔量15.96万吨，环比 持平，供给历史低位企稳。需求方面，下游加工厂订单维持偏弱水平，无明显好转，拿 货多维持刚需，且受原片价格连续下滑影响下暂无备货意愿，消化自身的库存为主；截 止8月21日，全国浮法玻璃企业库存6360.60万重量箱，较前一周增加0.28%，库存持续 累积。综合来看，玻璃基本面不改疲弱，短期预 ...

Report Information - Report Title: Glass and Soda Ash Morning Report - Date: August 25, 2025 - Research Team: Energy and Chemicals Team of the Research Center Industry Investment Rating - Not provided in the report. Core Viewpoints - Not provided in the report. Summary by Category Glass - **Price Changes**: From August 15 to August 22, 2025, most glass prices decreased. For example, the price of 5mm large - plate glass at Shahe Safety dropped from 1164.0 to 1143.0, a weekly decrease of 21.0 and a daily decrease of 6.0. FG09 and FG01 contracts also showed weekly decreases, with FG09 down 49.0 and FG01 down 38.0 [2]. - **Production and Sales**: Shahe's glass production - sales ratio was 76, Hubei's was 130, East China's was 97, and South China's was 103. Shahe factory's production - sales were average, with traders' low - price sales at around 1120 and general shipments. Hubei's factory had better transactions at around 980 [2]. - **Profit and Cost**: North China's coal - fired glass profit decreased from 231.0 to 217.4, a weekly decrease of 13.7 and a daily decrease of 9.1. The cost increased slightly from 912.0 to 903.6. Natural gas - fired glass in North China and South China showed losses, and the losses of 09FG and 01FG盘面 natural gas profits also changed [2]. Soda Ash - **Price Changes**: From August 15 to August 22, 2025, some soda ash prices decreased. For example, Shahe's heavy - soda ash price dropped from 1280.0 to 1220.0, a weekly decrease of 60.0 and a daily increase of 10.0. SA05, SA01, and SA09 contracts all showed weekly decreases [2]. - **Industry Situation**: The heavy - soda ash spot price at the Hebei delivery warehouse was around 1190, and the price delivered to Shahe was around 1220. Both factories and delivery warehouses had a slight inventory build - up [2]. - **Profit and Cost**: North China's ammonia - soda process profit decreased from - 102.9 to - 156.7, a weekly decrease of 53.8 and a daily increase of 10.0. The North China's combined - soda process profit also decreased [2].

Core Viewpoint - The domestic 5mm float glass market is showing a stable yet slightly rising trend, primarily supported by rigid demand, with no significant improvement in market conditions observed [2][8]. Price Analysis - As of August 22, 2023, the float glass price index is at 1126.85, reflecting a slight increase of 0.26 or 0.02% from the previous working day [3]. - Prices for 5mm float glass in various regions are as follows: - Northeast: 1080 CNY/ton - Northwest: 1170 CNY/ton - Southwest: 1140 CNY/ton (up 10 CNY) - East China: 1190 CNY/ton - Non-central: 1090 CNY/ton - South China: 1230 CNY/ton - Non-north: 1140 CNY/ton [1]. Market Dynamics - The market in North China remains stable, with minor price adjustments in the Shahe area, while the overall trading atmosphere is still subdued [2]. - In the Southwest market, prices are rising, with some manufacturers in Sichuan increasing white glass quotes by 1-2 CNY per weight box, although downstream purchasing remains primarily based on essential needs [2]. - The East China market is stable with average transaction performance, and some companies are considering price increases [2]. Futures Market - On August 22, 2023, the main futures contract FG2601 opened at 1156 CNY/ton and closed at 1173 CNY/ton, marking a daily increase of 0.77% [6]. - The highest price during the day was 1175 CNY/ton, while the lowest was 1152 CNY/ton, with a total open interest of 1,148,710 contracts, reflecting a decrease of 60,014 contracts [6]. Future Outlook - The float glass market is expected to maintain a weak and fluctuating trend in the short term, with production companies adopting promotional strategies to alleviate inventory pressure [8]. - The industry fundamentals have not shown significant improvement, lacking new driving factors, and the market will need to monitor demand recovery and cost changes [8].