Core Viewpoint - The legal opinion issued by Dacheng Law Firm confirms the legality of the procedures and results of the Zhuzhou Qibin Group Co., Ltd. 2025 Second Extraordinary General Meeting of Shareholders, ensuring compliance with relevant laws and regulations [1][4][8]. Group 1: Meeting Procedures - The meeting was proposed and convened by the board of directors, with the notice published on May 15 and 16, 2025 [3][4]. - The meeting utilized a combination of on-site and online voting, held at the company's headquarters on May 30, 2025 [3][4]. Group 2: Attendance and Voting - A total of 525 participants attended the meeting, representing 1,289,527,285 shares, approximately 48.1% of the total voting shares [4][5]. - Online voting included 517 shareholders, representing 164,784,184 shares, about 6.1% of the total voting shares [5][6]. Group 3: Proposals and Voting Results - The meeting included three proposals for voting, all of which were consistent with the notice provided [6][7]. - The voting results indicated significant support for the proposals, with specific numbers for each proposal detailed in the legal opinion [7][8]. Group 4: Legal Conclusion - The legal opinion concludes that the meeting's convening, attendance, voting procedures, and results are all valid and comply with applicable laws and regulations [8].

天胶观点 交产业期现日报 投资咨询业务资格:证监许可【2011】1292号 2025年5月30日 现货价格及基差 品种 5月29日 5月28日 涨跌 涨跌幅 单位 云南国营全乳胶(SCRWF):上海 13850 14050 -200 -1.42% 全乳基差(切换至2509合约) -30 245 -275 -112.24% 元/吨 泰标混合胶报价 13800 14400 -600 -4.17% 非标价差 -80 295 -675 -113.45% 品种 5月29日 5月28日 涨跌幅 单位 涨跌 杯胶：国际市场：FOB中间价 49.95 51.60 -1.65 -3.20% 泰铢/公斤 胶水:国际市场:FOB中间价 62.25 62.75 -0.50 -0.80% 天然橡胶:胶块:西双版纳州 12200 12800 -4.69% -600 天然橡胶：胶水：西双版纳州 13300 12600 -700 -5.26% 元/吨 原料：市场主流价：海南 12900 13100 -200 -1.53% 外胶原料：市场主流价：海南 9000 9000 0.00 0.00% 月间价差 合约 5月29日 5月28日 涨跌幅 单 ...

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report - The glass fundamentals are weak, and it is expected to fluctuate weakly at a low level in the short term. The supply has declined to a relatively low level in the same period, the seasonal off - season has arrived, downstream purchases on demand, and glass factory inventories have continued to accumulate [2][5]. 3. Summary by Relevant Catalogs Glass Futures Market - The closing price of the main contract decreased from 1009 yuan/ton to 985 yuan/ton, a decrease of 2.38%. The spot price of Shahe Safety large - board decreased from 1080 yuan/ton to 1072 yuan/ton, a decrease of 0.74%. The main basis increased from 71 yuan/ton to 87 yuan/ton, an increase of 22.54% [6]. Glass Spot Market - The market price of 5mm white glass large - board in Hebei Shahe, the spot benchmark, was 1072 yuan/ton, a decrease of 8 yuan/ton from the previous day [12]. Fundamental - Cost Side - The profitability of the coal production line has recovered, the loss of the natural gas production line has narrowed, and the profit of the petroleum coke production line has turned negative [16]. Fundamental - Supply - The number of operating national float glass production lines is 223, with an operating rate of 75.34%. The number of operating production lines is at a historical low in the same period. The daily melting capacity is 156,700 tons, and the production capacity is at the lowest level in the same period in history [20][22]. Fundamental - Demand - In February 2025, the apparent consumption of float glass was 4.3143 million tons. Other demand - related indicators such as housing sales, new construction, construction, completion area, and downstream processing plant operations and orders are also mentioned but lack specific data updates in this report [26]. Fundamental - Inventory - The inventory of national float glass enterprises is 67.662 million weight boxes, a decrease of 0.16% from the previous week, and the inventory is running above the five - year average [41]. Fundamental - Supply - Demand Balance Sheet - The report provides a float glass annual supply - demand balance sheet from 2017 to 2024E, including data on production, exports, imports, apparent supply, consumption, differences, production growth rates, consumption growth rates, and net import ratios [42]. Influencing Factors Summary - **Positive factors**: The negative feedback of production profit is obvious, and glass production has continued to decline to a historical low [4]. - **Negative factors**: The terminal demand in the real estate industry is still weak, the number of orders from glass deep - processing enterprises is at a historical low in the same period, the capital collection in the deep - processing industry is not optimistic, and traders and processing plants are cautious and mainly digest the original glass inventory [4]. Main Logic - The glass supply has declined to a relatively low level in the same period, the seasonal off - season has arrived, downstream purchases on demand, and glass factory inventories have continued to accumulate. It is expected that glass will fluctuate at a low level [5].

Core Viewpoint - North Glass Co., Ltd. (北玻股份) is a leading player in the glass processing equipment industry in China, recognized for its innovative solutions and significant collaborations, particularly with Apple Inc. The company has successfully navigated market challenges, including tariff disputes, by diversifying its client base and focusing on quality and innovation [3][6][9]. Group 1: Company Overview - North Glass, established in 1995, is the only A-share listed company in the glass processing equipment sector in China [3]. - The company has gained attention for its unique glass structures, such as the "glass cylinder" at the Apple Store in Lujiazui, Shanghai, and has secured over 100 orders for glass curtain walls from Apple [6][9]. Group 2: Market Position and Strategy - Despite challenges from tariff disputes, North Glass has maintained a strong presence in overseas markets, including Hong Kong and Japan, and is gaining traction in the Middle East [9]. - The company emphasizes innovation as its core principle, stating that technical confidence and the ability to tackle complex challenges have been key to its success [9]. Group 3: Upcoming Events - The first "Good Life Expo" (好博会) will be held from June 27 to 29 in Beijing, aimed at stimulating consumer activity and supporting quality brands, with participation from major e-commerce platforms [11].

证券代码：600876 证券简称：凯盛新能 编号:临2025-011号 凯盛新能源股份有限公司 董事会决议公告 公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏,并对其内容的 真实性、准确性和完整性承担个别及连带责任。 一、董事会会议召开情况 凯盛新能源股份有限公司（以下简称"公司"）第十届董事会第三十三次会议于2025年5月29日以通讯方 式召开。本次会议由公司董事长谢军先生主持，会议应到董事8人，实到董事8人。会议召开符合《公司 法》《证券法》等法律法规及《公司章程》的相关规定，合法有效。 二、董事会会议审议情况 会议采用投票表决方式，审议了以下议案： 1、审议通过《关于取消监事会并修订〈公司章程〉的议案》 详情见公司同日披露的《凯盛新能源股份有限公司关于取消监事会并修订〈公司章程〉及部分公司治理 制度的公告》。 表决结果：8票同意，0 票弃权，0 票反对。 本议案需提交公司股东会审议通过。 2、审议通过《关于修订〈股东会议事规则〉的议案》 详情见公司同日披露的《凯盛新能源股份有限公司关于取消监事会并修订〈公司章程〉及部分公司治理 制度的公告》及经修订的《股东会议事规则》。 表 ...

Overview of Guarantee Situation - The company has provided guarantees for its wholly-owned subsidiaries, Anhui Fulait Glass Co., Ltd. and Heyuan Yantai New Energy Co., Ltd., with a total guarantee amount not exceeding RMB 33 million for Heyuan Yantai [1][2] - The company signed a maximum guarantee contract with Kunlun Bank for a principal debt of RMB 78,737,880 for Anhui Fulait Glass [2] - The company has no overdue external guarantees [1][6] Internal Decision-Making Process - The company held its 2023 annual general meeting on June 17, 2024, approving a comprehensive credit limit of up to RMB 26 billion for 2024, which can be used cyclically [2][3] - The company and its subsidiaries will provide corresponding guarantees within this credit limit without needing to undergo separate board and shareholder meeting procedures [3] Financial Status of Guaranteed Entities - As of March 31, 2025, Anhui Fulait Glass had total assets of RMB 2,522,261,000, total liabilities of RMB 1,666,540,650, and net assets of RMB 855,720,350 [4] - Heyuan Yantai had total assets of RMB 6,454,550, total liabilities of RMB 5,957,750, and net assets of RMB 496,800 as of March 31, 2025 [5] Necessity and Reasonableness of Guarantees - The guarantees are deemed necessary for the company's daily operations and business development, with the company maintaining absolute control over its subsidiaries [5] - The overall risk of the guarantees is considered manageable, and there is no harm to the interests of the company and its shareholders [5] Total External Guarantees - As of the announcement date, the total external guarantees provided by the company and its subsidiaries amount to zero, while the cumulative guarantees to subsidiaries total RMB 12,469,163,000, accounting for approximately 55.94% of the company's latest audited net assets [6]

5月29日，鸿海集团旗下玻璃厂正达公告，基于汽车市场未来发展与需求，与美商Corning Automotive Glass Solutions(Hefei)Co.,Ltd.签署战略合作备忘录，建立长期策略伙伴关系，拓展车载玻璃相关市场。 (智通财经) ...

成交一般； 产销：沙河83，湖北129，华东102，华南110 | | | | | | 纯 碱 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 2025/5/21 | 2025/5/27 | | 2025/5/28 周度变化 日度变化 | | | 2025/5/21 | 2025/5/27 | | 2025/5/28 周度变化 日度变化 | | | 沙河重碱 | 1310.0 | 1260.0 | 1260.0 | -50.0 | 0.0 | SA05合 约 | 1315.0 | 1268.0 | 1260.0 | -55.0 | -8.0 | | 华中重碱 | 1280.0 | 1240.0 | 1240.0 | -40.0 | 0.0 | SA01合约 | 1279.0 | 1212.0 | 1207.0 | -72.0 | -5.0 | | 华南重碱 | 1570.0 | 1570.0 | 1570.0 | 0.0 | 0.0 | SA09合约 | 1288.0 | 1 ...

Core Viewpoint - The article highlights the participation of Wuliangye at the 20th China Western International Expo, showcasing its cross-industry integration and innovation in the liquor industry, emphasizing its development strategy of "strengthening liquor, optimizing non-liquor, and expanding platforms" [1][3][10]. Group 1: Event Overview - The 20th China Western International Expo was held in Chengdu from May 25 to 29, focusing on "deepening reform to increase momentum and expanding openness to promote development" [1]. - The expo serves as a significant platform for open cooperation in the western region, having been established in 2000 and successfully hosting 19 previous events [3]. Group 2: Wuliangye's Strategic Development - Wuliangye has evolved into a large state-owned enterprise group, with its core business in liquor and expansions into green packaging, machinery manufacturing, smart logistics, financial investment, and health industries [3][10]. - The company aims to create a win-win development model that integrates ecological, economic, and social aspects through its innovative practices [4][10]. Group 3: Exhibition Highlights - Wuliangye's exhibition showcased the entire industry chain from seed planting to liquor production, emphasizing its commitment to quality and innovation [6][9]. - The exhibition featured core products and demonstrated the traditional brewing techniques that have been passed down for over 700 years [9][10]. Group 4: Technological Innovation - Wuliangye has established multiple national and provincial innovation platforms, focusing on various aspects of the liquor production process, and has received numerous awards for technological advancements [9][11]. - The company is committed to continuous technological investment, enhancing its core liquor business and expanding its product and service range [11][12]. Group 5: Collaborative Partnerships - Wuliangye collaborates with various companies, such as Universal Group and Lichai Group, to enhance packaging and logistics, thereby improving the overall quality and efficiency of its operations [12][15][18]. - The logistics partner, Anji Logistics Group, has been instrumental in providing customized solutions for efficient and green management of the liquor supply chain [18].

0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 华北重碱 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 (500) 0 500 1,000 1,500 2,000 华北氨碱法利润 2020 2021 2022 2023 2024 2025 (1,000) (500) 0 500 1,000 1,500 2,000 2,500 华北联碱法利润 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 华北轻碱 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 6 0 6 5 7 0 7 5 8 0 8 5 9 0 9 5 100 纯碱开工率（%） 2020 2021 2022 2023 2024 2025 0 5 0 100 150 200 250 纯碱厂库+交割库存 2020 2021 2022 2023 2024 2025 ...