格隆汇12月2日丨海南瑞泽(002596.SZ)在投资者互动平台表示，公司目前主营业务为商品混凝土生产与 销售以及市政环卫业务。 ...

Core Viewpoint - Recently, Baoqing County Kaitai Biotechnology Co., Ltd. was established with a registered capital of 1 million RMB, focusing on various technology services and products related to biotechnology and agriculture [1] Company Overview - The legal representative of the newly established company is Liu Aijie [1] - The registered capital of the company is 1 million RMB [1] Business Scope - The company’s business scope includes general projects such as technology services, development, consulting, exchange, transfer, and promotion [1] - It also engages in biomass energy technology services, emerging energy technology research and development, and fertilizer sales [1] - Additional activities include soil and fertilizer processing, biobased materials manufacturing and sales, biomass fuel processing, and organic fertilizer research and development [1] - The company provides agricultural machinery services, construction stone processing, and sales of various building materials [1] Licensing and Permits - The company holds licenses for fertilizer production and road cargo transportation (excluding hazardous goods) [1]

天眼查App显示，近日，上海闻之润建筑材料有限公司成立，法定代表人为倪训龙，注册资本600万人 民币，经营范围为一般项目：建筑材料销售；建筑装饰材料销售；水泥制品销售；金属材料销售；五金 产品批发；日用百货销售；五金产品零售；机械设备销售；金属制品销售；电子产品销售；电线、电缆 经营；卫生洁具销售；信息咨询服务（不含许可类信息咨询服务）；园林绿化工程施工；国内货物运输 代理；技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广；货物进出口；技术进出口。 （除依法须经批准的项目外，凭营业执照依法自主开展经营活动）许可项目：建设工程施工；施工专业 作业。（依法须经批准的项目，经相关部门批准后方可开展经营活动，具体经营项目以相关部门批准文 件或许可证件为准）。 ...

证券日报网讯12月1日，东方雨虹（002271）在互动平台回答投资者提问时表示，首先，公司在全国各 地拥有广泛合理的产能布局和多层次的市场营销渠道网络，在京津冀地区设有研发总部基地、生产物流 基地及分子公司。其次，公司自成立以来，持续为国内外重大基础设施建设、工业建筑和民用、商用建 筑等提供高品质、完备的建筑建材系统解决方案，其中也积极参与北京大兴国际机场、京津城际、京津 冀地区城中村改造等众多项目，同时，公司近期还中标了京津冀城际铁路投资有限公司采购项目。此 外，在人才培养方面，由北京市顺义区东方雨虹职业技能培训学校创建的"京虹无忧堵漏师"劳务品牌， 依托东方雨虹专业技术、产业技术及资源优势，推动行业标准化与京津冀建筑修缮产业升级，为区域经 济发展注入新动能。 ...

Report Summary 1. Investment Rating The report does not mention the industry investment rating. 2. Core Viewpoints - Last week, the external environment improved significantly, and the equity market rebounded with fluctuations. The strength of small and micro - cap stocks boosted the underlying stocks of convertible bonds. However, due to the impact of Vanke's bond extension event, the convertible bond market was the primary target for "fixed - income +" funds to reduce positions during net redemptions because of its good liquidity, resulting in a slight decline and a significant digestion of the previously rapidly rising valuation level. The convertible bond ETFs were divided, with a total net redemption of RMB 1.345 billion in convertible bonds. - Looking ahead, factors such as the new regulations for bond funds and year - end profit - taking sentiment increase the uncertainty on the demand side of the convertible bond market, amplifying price fluctuations. However, the basic pattern of weak supply and strong demand in the convertible bond market is unlikely to change substantially, and the impact is expected to be limited. The large - cap bottom - position convertible bonds with rapidly falling valuations have significant left - hand layout value. In the short term, convertible bonds are expected to follow the equity market in a high - to - low, structural market. After the Central Economic Work Conference provides direction for the market, an end - of - year pre - emptive market is expected to start, with hard - tech, new - consumption, and anti - involution - related convertible bonds remaining the key directions [2]. 3. Summary by Directory Policy Tracking - On November 25, the National Energy Administration issued the "Implementation Opinions on Promoting High - Quality Development of 'Artificial Intelligence +' Energy", proposing eight categories of scenarios, 37 key tasks, and more than a hundred specific applications to accelerate the application of artificial intelligence in the energy field. It plans to organize "Artificial Intelligence +" energy pilot projects to explore a new paradigm for the integrated development of "Artificial Intelligence +" energy [3]. - On November 27, six ministries including the Ministry of Industry and Information Technology issued the "Implementation Plan for Enhancing the Adaptability of Consumer Goods Supply and Demand to Further Promote Consumption", proposing five measures and setting phased development goals. By 2027, three trillion - level consumption areas and ten billion - level consumption hotspots are expected to be formed [3]. Secondary Market - **Equity Market**: Last week, major equity market indices rose collectively. The Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index rose by 1.40%, 3.56%, and 4.54% respectively. Overseas, the US retail data was lower than expected, and the core PPI increase also declined, leading to a resurgence of the December interest - rate cut expectation. Coupled with new progress in the Russia - Ukraine situation, most global capital markets rebounded, and commodities generally rose. Domestically, the equity market rebounded with fluctuations, but trading volume hit a nearly four - month low due to a wait - and - see attitude. Small and micro - cap stocks strengthened significantly, and there was policy speculation ahead of the Central Economic Work Conference. Vanke experienced a double - kill in stocks and bonds due to bond extension and market - based debt disposal rumors [5]. - **Convertible Bond Market**: Major convertible bond market indices fell collectively. The CSI Convertible Bond Index, Shanghai Convertible Bond Index, and Shenzhen Convertible Bond Index fell by 0.27%, 0.50%, and 0.01% respectively, with an average daily trading volume of RMB 61.571 billion, a marginal decrease of RMB 4.105 billion from the previous week. The convertible bond ETFs were divided, with a total net redemption of RMB 1.345 billion in convertible bonds. Structurally, small - cap convertible bonds outperformed last week, and low - rated and high - priced convertible bonds rose against the trend, while high - rated and large - cap convertible bonds underperformed. In terms of valuation, the conversion value of the convertible bond market increased marginally to the 75.3% quantile since 2020, but the convertible bond price decreased marginally, and the valuation level dropped significantly by 7.8 percentage points to the 49.9% quantile. In terms of trading sentiment, the trading activity of both underlying stocks and convertible bonds declined [7][8]. - **Industry Performance**: Most convertible bonds in various industries rose last week. Convertible bonds in the steel and building materials industries led with average increases of over 2% and 1%, respectively, while those in the food and beverage and transportation industries fell by over 0.5%. In terms of valuation, the average conversion premium rate quantile since 2020 decreased by 13.03 percentage points to the 48.07% quantile, and the median conversion premium rate quantile decreased by 11.35 percentage points to the 48.54% quantile. Convertible bonds in industries such as household appliances, food and beverage, building decoration, and automobiles followed the upward trend more slowly, and their valuation quantiles decreased by more than 20 percentage points [10]. - **Individual Bonds**: Among 401 convertible bonds, 208 rose and 181 fell. Among the rising bonds, Dazhong Convertible Bond and Chun 23 Convertible Bond led the market with increases of over 14% and 13% respectively, benefiting from the lithium - mining and consumer - electronics markets. Tianyuan Convertible Bond also strengthened significantly, rising by over 10%. Among the falling bonds, Bo 23 Convertible Bond, Wei 24 Convertible Bond, and Xinhua Convertible Bond fell significantly by over 14%, 9%, and 8% respectively under the expectation of early redemption [11]. Primary Market - **Issuance and Listing**: No new convertible bonds were issued last week, Zhuomei Convertible Bond was listed, and no convertible bonds were delisted. As of November 28, the outstanding scale of the convertible bond market was RMB 565.308 billion, a decrease of RMB 168.585 billion from the beginning of the year and a decrease of RMB 33.28 billion from the previous week. Zhuomei Convertible Bond had a 57.3% daily limit on the first - listing day and rose by over 74.9% in the first week, with a conversion premium rate of 92.69% as of last Friday, exceeding the market median level [30]. - **Conversion and Redemption**: Ten convertible bonds had a conversion ratio of over 5% last week, an increase of three from the previous week. Among them, Qibin Convertible Bond, Wei 24 Convertible Bond, Hongfa Convertible Bond, and Yuguang Convertible Bond announced early redemption, and Xinhua Convertible Bond and Yong 02 Convertible Bond announced that they were about to trigger early redemption. Mingdian Zhuan 02, Fenghuo Convertible Bond, Ying 19 Convertible Bond, and Dongfeng Convertible Bond are about to expire and be delisted [31]. - **Issuance Progress**: The issuance of convertible bonds by Shang Sheng Electronics was approved by the exchange, and the issuance of convertible bonds by Lianrui New Materials was approved by the CSRC. As of last Friday, seven convertible bonds were approved by the CSRC and waiting to be issued, with a total scale of RMB 4.718 billion, and six convertible bonds passed the review committee, with a total scale of RMB 7.458 billion [32]. - **Clause Tracking**: No convertible bonds announced a downward revision of the conversion price last week, and four convertible bonds announced early redemption. Tianneng Convertible Bond and Lanfan Convertible Bond announced that the board of directors proposed a downward revision of the conversion price; Sanfang Convertible Bond and Jin 23 Convertible Bond announced no downward revision of the conversion price; Qixiang Zhuan 2, Changhong Convertible Bond, and Lepu Zhuan 2 announced that they were about to trigger the condition for a downward revision of the conversion price. Zhongneng Convertible Bond, Hongfa Convertible Bond, Wei 24 Convertible Bond, and Zhongqi Convertible Bond announced early redemption; Fuxin Convertible Bond announced no early redemption; Nenghui Convertible Bond, Meinuo Convertible Bond, Shenglan Convertible Bond, Limin Convertible Bond, Huamao Convertible Bond, and Xinhua Convertible Bond announced that they were expected to trigger the early - redemption condition [34].

（文章来源：证券时报网） 数据宝统计，截至10:59，海南瑞泽成交额17.24亿元，创2022年4月13日以来新高。最新股价上涨 5.68%，换手率22.62%。上一交易日该股全天成交额为13.87亿元。 据天眼查APP显示，海南瑞泽新型建材股份有限公司成立于2002年04月27日，注册资本114758.0518万 人民币。（数据宝） ...

Core Viewpoint - Hainan Ruize has experienced significant trading activity, with a notable increase in stock price and trading volume, indicating high market participation [1] Group 1: Stock Performance - Hainan Ruize has achieved a five-day streak of price increases, with four consecutive trading limits reached [1] - The stock hit its upper trading limit at 10:01 AM today, with a transaction volume of 1.18 billion yuan [1] - The turnover rate for the stock is reported at 15.67%, reflecting a relatively high level of market engagement [1] Group 2: Market Activity - The surge in Hainan Ruize's stock price is likely driven by speculative trading related to thematic investments [1] - Recent trading volumes and turnover rates are at elevated levels, suggesting strong participation from market funds [1] - The volatility of stocks with consecutive price increases is highlighted, emphasizing the need for cautious investment strategies [1]

Q&A 银龙股份 20251130 摘要 银龙股份 2024 年前三季度净利润达 2.73 亿元，同比增长超 60%，受 益于产业结构优化及高附加值产品渗透率提升，显示出强劲的盈利能力。 公司积极布局新兴领域，参与野三水电站（总投资 1.2 万亿人民币）和 新藏铁路（总投资 4,000 亿人民币）等国家级项目，预计将显著提升未 来收益。 银龙股份参与俄罗斯莫斯科至圣彼得堡高铁项目，提供轨道板生产线预 计贡献约 2 亿净利润，并计划继续开拓俄罗斯市场及参与乌克兰重建， 潜在市场巨大。 近期股价回调主要受市场整体疲软和私募产品减持影响，但减持已完成， 预计股价将回归业绩驱动，公司基本面依然稳健。 公司正与国内头部机器人企业合作，布局机器人健身领域，并计划收购 锌化钢丝公司，进军高端钢丝市场，该市场规模约 1,000 亿人民币，目 前高端产品依赖进口。 银龙股份已全面布局墨脱水电站项目，预计未来 10-15 年需求量达 800-1,000 万吨，金额约五六百亿，并与中国电建合作成立合资公司， 扩大市场份额。 公司在山西建设的 100 兆瓦飞轮调频电站预计年底完工，明年初并网， 该项目收益率可观，总投资回本时间仅 3 ...

Investment Rating - The report maintains an "Outperform" rating for the company [7][6]. Core Views - The company is advancing its waterproof segment by acquiring Tangshan and Suzhou Yuanda Hongyu, enhancing its regional competitiveness and market share [7]. - The acquisition is deemed reasonably valued, with Tangshan Yuanda Hongyu's price-to-book (PB) ratio at 0.9 times and price-to-earnings (PE) ratio at 4.9 times based on 2024 net profit [7]. - The company is expected to see a recovery in waterproof demand by 2026, which may lead to significant profit elasticity [7]. Financial Data and Profit Forecast - Total revenue is projected to be 25,821 million yuan in 2024, with a slight increase to 25,997 million yuan in 2025, and further growth to 30,551 million yuan by 2027 [6]. - The net profit attributable to the parent company is forecasted to be 3,647 million yuan in 2024, decreasing to 3,516 million yuan in 2025, and then increasing to 4,802 million yuan by 2027 [6]. - The company's return on equity (ROE) is expected to improve from 9.6% in 2025 to 14.3% by 2027 [6]. Market Data - As of November 28, 2025, the closing price of the company's stock is 25.31 yuan, with a market capitalization of 42,761 million yuan [2]. - The company has a dividend yield of 3.42%, and its price-to-earnings ratio is projected to be 12 for 2025, decreasing to 9 by 2027 [2][6].

天眼查App显示，近日，广州盛壹建筑材料有限公司成立，注册资本10万人民币，经营范围为对外承包 工程;农村生活垃圾经营性服务;五金产品零售;五金产品批发;轻质建筑材料销售;门窗销售;室内木门窗安 装服务;金属材料销售;塑料制品销售;水泥制品销售;砖瓦销售;建筑工程机械与设备租赁;机械设备租赁;建 筑物清洁服务;园林绿化工程施工;建筑材料销售;土石方工程施工;城市建筑垃圾处置（清运）;道路货物 运输（不含危险货物）。 ...