Group 1 - The establishment of Foshan Shunxing Recycling Resources Co., Ltd. has been registered with a capital of 10,000 RMB [1] - The company's business scope includes general projects such as recycling resource sales, processing, and recovery [1] - The company is also involved in the research and development of resource recycling technology and sales of metal materials [1] Group 2 - The company engages in the recovery of production waste metals and processing of non-metal waste and scraps [1] - It also sells plastic products and operates retail and wholesale of hardware products [1] - The company will conduct its business activities independently based on its business license, except for projects that require approval [1]

天眼查App显示，近日，新余市寻千汇工贸有限公司成立，法定代表人为余桂华，注册资本100万人民 币，经营范围为一般项目：金属材料销售，再生资源销售，再生资源回收（除生产性废旧金属），再生 资源加工，互联网销售（除销售需要许可的商品），国内贸易代理，租赁服务（不含许可类租赁服 务），非居住房地产租赁，普通货物仓储服务（不含危险化学品等需许可审批的项目），国内货物运输 代理，机械设备租赁，园区管理服务（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）。 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - In H1 2025, most convertible bond issuers saw revenue growth compared to the previous year, with profits showing some divergence. Amid the bullish equity market since April, investors should focus on low - price and equity - biased convertible bonds with excellent or improving performance and high - quality underlying stocks [1][3][8]. 3. Summary According to the Table of Contents 3.1 2025H1 Convertible Bond Performance Overview - Revenue: By August 30, 61.7% of convertible bond issuers had year - on - year revenue growth, mainly in the (0, 30%] range. In Q2 2025, 77.5% had quarter - on - quarter revenue growth, also concentrated in the (0, 30%] range [8][9]. - Profit: 50.2% of convertible bond issuers had year - on - year growth in net profit attributable to shareholders, with significant differences in performance. In Q2 2025, 53.3% had quarter - on - quarter growth, and the industries with the most issuers having a quarter - on - quarter growth rate of over 100% were electronics, building decoration, and power equipment [8][9]. 3.2 Industries and Convertible Bond Issues with Outstanding Performance 3.2.1 Year - on - Year Dimension - Industry: In terms of revenue, agriculture, forestry, animal husbandry and fishery, non - bank finance, and electronics led; in terms of performance, agriculture, forestry, animal husbandry and fishery, building materials, and media had the highest year - on - year growth rates. The agriculture, forestry, animal husbandry and fishery industry achieved a significant turnaround in performance, with the net profit attributable to shareholders increasing by 6799.93% year - on - year [15]. - Convertible Bond Issues: Huahong Convertible Bond, Wanqing Convertible Bond, Jingrui Convertible Bond, Jingrui Convertible Bond 2, and Muyuan Convertible Bond had the top four year - on - year growth rates in net profit attributable to shareholders in H1 2025 [23]. 3.2.2 Quarter - on - Quarter Dimension - Industry: In terms of revenue, communication, building materials, and non - bank finance led; in terms of performance, building materials, social services, and communication had the highest quarter - on - quarter growth rates in Q2 2025. Some industries such as building materials showed signs of bottoming out and reversing [26]. - Convertible Bond Issues: Jiaojian Convertible Bond, Hengfeng Convertible Bond, Huayang Convertible Bond, Aojia Convertible Bond, and Tianchuang Convertible Bond had the top five quarter - on - quarter growth rates in net profit attributable to shareholders in Q2 2025 [35]. 3.3 Industries and Convertible Bond Issues with Significant Performance Improvement 3.3.1 Industries and Issues with Year - on - Year Turnaround from Loss to Profit - Industries: Agriculture, forestry, animal husbandry and fishery, medicine, and electronics had the most issuers turning around from loss to profit year - on - year. Representative issues include Shanbo Convertible Bond, Tianchuang Convertible Bond, and Jingrui Convertible Bond [38]. 3.3.2 Industries and Issues with Quarter - on - Quarter Turnaround from Loss to Profit - Industries: Power equipment, computer, and construction industries had the most issuers turning around from loss to profit quarter - on - quarter. Representative issues include Jiaojian Convertible Bond, Jidong Convertible Bond, and Like Convertible Bond [45]. 3.3.3 Industries and Issues with Year - on - Year Reduction in Losses - Industries: Computer, power equipment, and building decoration industries had the most issuers with reduced losses year - on - year. Representative issues include Shuangliang Convertible Bond and Xinfu Convertible Bond [50]. 3.3.4 Industries and Issues with Quarter - on - Quarter Reduction in Losses - Industries: Power equipment, computer, and medicine industries had the most issuers with reduced losses quarter - on - quarter. Representative issues include Tong 22 Convertible Bond, Long 22 Convertible Bond, and Shanshi Convertible Bond [56]. 3.4 Convertible Bonds Worth Attention in the Bullish Equity Market 3.4.1 Convertible Bonds in the Excellent Performance Sector - Five convertible bonds, including Muyuan Convertible Bond, Daotong Convertible Bond, Zhongchong Convertible Bond 2, Weice Convertible Bond, and Anji Convertible Bond, were selected based on certain criteria [61]. 3.4.2 Convertible Bonds with Improving Performance - Four convertible bonds, including Liang 22 Convertible Bond, Site Convertible Bond, Chutian Convertible Bond, and Li'ang Convertible Bond, are recommended for continuous attention [63].

天眼查App显示，近日，湖南建壹再生资源有限公司成立，法定代表人为罗晗，注册资本200万人民 币，经营范围为一般项目：再生资源加工;再生资源回收（除生产性废旧金属）;再生资源销售;非金属废 料和碎屑加工处理;有色金属合金销售;金属制品销售;五金产品零售;五金产品批发;建筑工程机械与设备 租赁（除依法须经批准的项目外，自主开展法律法规未禁止、未限制的经营活动）。 ...

天眼查App显示，近日，苏州誉永振再生资源股份有限公司成立，法定代表人为马永，注册资本20万人 民币，经营范围为一般项目：再生资源销售；再生资源回收（除生产性废旧金属）；日用木制品销售； 纸制品销售；五金产品零售；金属制品销售；模具销售；装卸搬运；运输货物打包服务；再生资源加 工；生产性废旧金属回收；普通货物仓储服务（不含危险化学品等需许可审批的项目）（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）。 ...

天眼查App显示，近日，常州市洪磐再生资源有限公司成立，法定代表人为金国功，注册资本5万人民 币，经营范围为一般项目：再生资源回收（除生产性废旧金属）；再生资源加工；再生资源销售；资源 再生利用技术研发；生产性废旧金属回收；新能源汽车废旧动力蓄电池回收及梯次利用（不含危险废物 经营）；有色金属压延加工；农林牧渔业废弃物综合利用；报废农业机械回收；非金属废料和碎屑加工 处理；金属废料和碎屑加工处理；合成材料销售；污水处理及其再生利用；太阳能热利用装备销售；农 村生活垃圾经营性服务；环境保护专用设备销售；新材料技术研发；金属制品销售；金属材料销售；五 金产品零售；塑料制品销售；运输货物打包服务；普通货物仓储服务（不含危险化学品等需许可审批的 项目）；装卸搬运；技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广；广告制作；通 用设备修理（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）。 ...

天眼查App显示，近日，连云港双福科技有限公司成立，法定代表人为陈伏钱，注册资本10万人民币， 经营范围为一般项目：再生资源回收（除生产性废旧金属）；资源再生利用技术研发；技术服务、技术 开发、技术咨询、技术交流、技术转让、技术推广；智能农业管理；安防设备销售；电气信号设备装置 销售；信息系统集成服务；通信设备销售；工程管理服务；卫星遥感应用系统集成；交通及公共管理用 金属标牌制造；园林绿化工程施工；体育场地设施工程施工；土石方工程施工；金属门窗工程施工；工 业工程设计服务；工程技术服务（规划管理、勘察、设计、监理除外）；国内货物运输代理（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）。 ...

天眼查App显示，近日，佛山市绿芽再生资源有限公司成立，法定代表人为黎国鹏，注册资本10万人民 币，经营范围为一般项目：再生资源回收（除生产性废旧金属）；再生资源加工；再生资源销售；非金 属废料和碎屑加工处理；纸制品制造；纸制品销售；塑料制品销售；固体废物治理。（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）。 ...

Core Viewpoint - The establishment of Junxin Global Recycling Resource Center in Dingnan County indicates a growing focus on the recycling industry and resource recovery in the region [1] Company Summary - Junxin Global Recycling Resource Center is registered with a capital of 200,000 RMB [1] - The legal representative of the company is Yang Jun [1] - The business scope includes general projects such as recycling of renewable resources (excluding production waste metals), sales of renewable resources, sales of metal materials, sales of metal ores, sales of non-ferrous metal alloys, sales of new metal functional materials, sales of high-performance non-ferrous metals and alloy materials, sales of high-purity elements and compounds, sales of chemical products (excluding licensed chemical products), and labor services (excluding labor dispatch) [1]

天眼查App显示，近日，江西六强再生资源有限公司成立，法定代表人为刘莎，注册资本5万人民币， 经营范围为一般项目：非金属废料和碎屑加工处理，再生资源回收（除生产性废旧金属），再生资源加 工，再生资源销售，固体废物治理，金属废料和碎屑加工处理，生物质燃料加工，生物质成型燃料销 售，报废农业机械回收，生产性废旧金属回收，机械设备租赁，建筑工程机械与设备租赁（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）。 ...