上市企业：旗滨集团（601636）,南玻Ａ（000012）,福耀玻璃（600660）,金晶科技（600586）,凯盛新能 （600876）,耀皮玻璃（600819）,山东药玻（600529）,亚玛顿（002623） 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 2020-2025年1-9月中国钢化玻璃产量统计图 数据来源：国家统计局，智研咨询整理 相关报告：智研咨询发布的《2025-2031年中国钢化玻璃行业市场供需态势及发展前景研判报告》 根据国家统计局数据显示：2025年9月中国钢化玻璃产量为0.5亿平方米，同比增长3.7%；2025年1-9月 中国钢化玻璃累计产量为3.9亿平方米，累计下降8.1%。 ...

【玻璃和纯碱现货行情】 玻璃：沙河大板成交均价1050元/吨上下。 【供需】 截至2025年11月13日，全国浮法玻璃日产量为15.91万吨，与6日持平。本周（20251107-1113）全国浮法 玻璃产量111.39万吨，环比-1.08%，同比+0.76%。 截止到20251113，全国浮法玻璃样本企业总库存6324.7万重箱，环比+11.1万重箱，环比+0.18%，同比 +33.61%。折库存天数27.5天，较上期+0.4天。 【分析】 玻璃：湖北地区部分产线停产信息引发市场情绪，带动盘面反弹，市场对于后市湖北地区进一步去产能 有一定预期。盘面反弹带动现货走货转好，中下游采买，继续关注持续性表现。虽然近期有产线陆续冷 修，但后续沙河地区还将有产线复产点火预期，涉及日产能约3650吨，届时或还将对供应端形成压力。 11月仍处于年底赶工旺季，短期仍有一定的刚需支撑。不过，中长期来看，旺季尾端，市场对于后市的 需求持续性存有担忧，北方随着气温降低室外施工将陆续停止，12月以后需求端收缩玻璃价格还将承 压。地产仍处于底部周期，竣工缩量明显，因此过剩格局下最终玻璃行业仍需要产能出清来解决过剩困 境。后期北方室外施工 ...

Report Summary 1. Report Industry Investment Rating - No investment rating information is provided in the content. 2. Core Viewpoints - The report presents the price, production and sales, and profit data of glass and soda ash, as well as the inventory situation of soda ash upstream [2]. 3. Summaries by Related Catalogs Glass - **Price Changes**: From November 17 to November 24, 2025, most glass prices showed a downward trend. For example, the price of 5mm large - plate glass from Shahe Anquan dropped from 1070.0 to 1044.0, a decrease of 26.0; Shahe Great Wall dropped from 1053.0 to 1019.0, a decrease of 34.0 [2]. - **Production and Sales**: Shahe's glass production and sales reached 180, Hubei's was 119, East China's was 114, and South China's was 106. Shahe's factory production and sales strengthened, while its traders' low - price shipments were average, and the spot - futures shipments were poor. Hubei's factory transactions improved, but the mid - stream spot - futures transactions weakened [2]. - **Profit**: The profits of different regions and production methods varied. For example, North China's coal - fired glass profit decreased from 102.0 to 73.3, a decrease of 28.8; South China's natural gas glass profit remained at - 188.1 [2]. Soda Ash - **Price Changes**: From November 17 to November 24, 2025, the prices of some soda ash products changed. For example, the price of Shahe heavy soda decreased from 1180.0 to 1150.0, a decrease of 30.0; the price of Qinghai heavy soda decreased from 900.0 to 870.0, a decrease of 30.0 [2]. - **Industry Situation**: The upstream inventory of the soda ash industry continued to decline, and the spot price of heavy soda in Hebei's delivery warehouse was about 1120, and about 1140 when delivered to Shahe [2].

分组1 - Weili Medical plans to distribute a cash dividend of 2 yuan per 10 shares to all shareholders, based on an undistributed profit of 704 million yuan as of September 30, 2025 [1] - Tongding Interconnect's shareholder plans to reduce their stake by up to 0.49%, equating to a maximum of 605,800 shares [1] - Caitong Securities has received approval from the China Securities Regulatory Commission to issue short-term corporate bonds with a total face value of up to 5 billion yuan [1] 分组2 - Youfu Food intends to use 70 million yuan of its own funds to invest in wealth management products with expected annual returns of up to 4.2% [3] - Keres received an administrative regulatory decision from the Guangdong Securities Regulatory Bureau for violations related to accounts receivable aging calculations and related party transactions [5] - Ouma Software's controlling shareholder has completed the transfer of state-owned equity, changing the controlling shareholder to Shandong Guotou [7] 分组3 - ST Huapeng's wholly-owned subsidiary has completed a major overhaul project and is now in production [8] - Beiqi Blue Valley has received approval from the China Securities Regulatory Commission for a stock issuance to specific investors [8] - Weijie Chuangxin received a government subsidy of 5 million yuan, accounting for 21.07% of its projected net profit for 2024 [9] 分组4 - China Resources Double Crane's subsidiary has received a drug registration certificate for a hypertension treatment drug [11] - Huafeng shares are continuing to suspend trading due to a planned change in control [13] - Kaifa Electric's shareholder plans to transfer 36.6869 million shares, representing 11.63% of the total share capital [14] 分组5 - Heng Rui Medicine has received approval for two clinical trials for innovative anti-tumor drugs [15] - Kosen Technology plans to invest 30 million USD to establish a new production base in Malaysia [17] - Sanxing Medical's subsidiary is expected to win a procurement project from the State Grid worth approximately 107 million yuan [18] 分组6 - Sitai Li's subsidiary has received a drug registration certificate for a contrast agent used in MRI [21] - Daren Tang's subsidiary has received a drug registration certificate for a pain relief gel [22] - Saike Xide has received approval for three medical device products, expanding its product range in the in vitro diagnostic field [23] 分组7 - Hasa Lian has elected a new chairman and vice chairman for its board of directors [24] - Two-sided Needle's subsidiary plans to invest 68.8522 million yuan in a production base expansion project [25] - Sunshine Nuohe plans to transfer 70% of its controlling subsidiary's equity for 2 million yuan [26] 分组8 - Hengbang shares received an administrative regulatory decision from the Shandong Securities Regulatory Bureau for failing to complete the election of independent directors [27] - Huali shares plan to sign a related transaction contract worth approximately 59.2847 million yuan [28] - Shangwei shares plan to invest 520.4 million yuan to gain a controlling stake in Sichuan Zhongfu Taihua [30] 分组9 - Zejing Pharmaceutical's ZG006 has been included in the list of breakthrough therapeutic varieties for treating advanced neuroendocrine cancer [32] - Yaopi Glass's shareholder plans to reduce their stake by up to 2.26%, equating to a maximum of 21.1469 million shares [34] - Huate Gas has initiated a major lawsuit involving a claim of 180 million yuan [36] 分组10 - Zhongchumei's controlling shareholder plans to increase their stake by between 42 million and 80 million yuan [37] - Huitong shares' shareholder plans to reduce their stake by up to 1% [38] - Miaowei Exhibition plans to apply for an initial public offering of H shares on the Hong Kong Stock Exchange [40] 分组11 - Tianqi Lithium's subsidiary has appealed to the Chilean Supreme Court regarding a partnership agreement with SQM and Codelco [42] - Naxin Micro plans to repurchase shares worth between 200 million and 400 million yuan [44] - Pingao shares have reported significant uncertainty regarding future business development and profitability [46] 分组12 - Shunyu shares have been pre-selected for a project worth 1.023 billion yuan [48] - Zhongyuan Neipei plans to acquire a 2.5% share in an aerospace industry fund for 50 million yuan [50] - Huifa Food's shareholder plans to reduce their stake by up to 3%, equating to a maximum of 727.14 million shares [53] 分组13 - Junshi Biosciences' subcutaneous PD-1 new formulation has reached its primary endpoint in a Phase III clinical trial [54] - Industrial Fulian clarified that it has not lowered its fourth-quarter profit target amid market rumors [55] - Longpan Technology's subsidiary has signed a major supply agreement for lithium iron phosphate materials, significantly increasing the supply volume [56]

ST华鹏（603021）(603021.SH)发布公告，公司全资子公司安庆华鹏长江玻璃有限公司因政府环保要求 及窑炉运行接近使用寿命末期，需对窑炉及相关设备设施进行升级改造，于2025年7月初进行停产大 修。近日，上述大修项目已具备较为完整的工艺条件及相关的配套设施，经过多次调试各项指标已达到 投产要求，并投入生产。 ...

智通财经APP讯，ST华鹏(603021.SH)发布公告，公司全资子公司安庆华鹏长江玻璃有限公司因政府环 保要求及窑炉运行接近使用寿命末期，需对窑炉及相关设备设施进行升级改造，于2025年7月初进行停 产大修。近日，上述大修项目已具备较为完整的工艺条件及相关的配套设施，经过多次调试各项指标已 达到投产要求，并投入生产。 ...

Group 1 - The core focus of Qibin Group at the Eurasia Glass Industry Exhibition was on three main product systems: high-quality float glass, energy-saving building glass, and photovoltaic glass, showcasing their comprehensive strength from product R&D to value-added services [1] - The exhibition served as a platform for Qibin Group to effectively communicate brand value and service advantages, enhancing its recognition in international markets and establishing a solid bridge for the promotion of high-end products and deep processing services overseas [1] - Qibin Group engaged in in-depth discussions with international clients on key topics such as photovoltaic glass supply, green building materials application, new material technology cooperation, and deep processing service support, resulting in bulk orders and valuable channel resources [1] Group 2 - Europe is identified as a key market for Qibin Group's global layout due to its high standards, stable demand, and significant potential in the glass industry [1] - The exhibition facilitated intensive connections with European partners, leading to multiple agreements on technical exchanges, demand matching, and cooperation models, further deepening regional market penetration [1][3] - Qibin Group's participation in the exhibition is a crucial step in advancing international business and strengthening its brand's international influence [1][3]

Core Viewpoint - Yao Pi Glass (600819.SH) experienced a significant drop in stock price, reaching a new low since October 30, 2023, due to a planned share reduction by a major shareholder [1] Group 1: Stock Performance - The stock price of Yao Pi Glass fell by 4.53% to 8.01 yuan during trading [1] - This decline marks the lowest price for the stock in nearly a month [1] Group 2: Shareholder Actions - China Composite Materials Group Co., Ltd. plans to reduce its holdings by up to 21.1469 million shares, which represents approximately 2.2619% of the company's total share capital [1] - The reduction will occur between December 16, 2025, and March 15, 2026, through centralized bidding and block trading [1] - The shares to be sold are sourced from those acquired prior to the company's initial public offering [1]

Group 1 - The core viewpoint of the news is that Jinjing Technology's stock has seen a significant increase, with a rise of 5.04% to 5.84 CNY per share, and a trading volume of 1.33 billion CNY, reflecting a market capitalization of 8.277 billion CNY [1] - Jinjing Technology, established on December 31, 1999, and listed on August 15, 2002, is primarily engaged in the production and sale of float glass, online coated glass, and ultra-white glass, with revenue composition being 67.75% from glass, 31.18% from soda ash, and 1.07% from other sources [1] Group 2 - From the perspective of the top circulating shareholders, a fund under GF Fund ranks among the top shareholders of Jinjing Technology, with GF Advantage Growth Stock A (011425) newly entering the top ten circulating shareholders in the third quarter, holding 6.4292 million shares, which is 0.45% of the circulating shares [2] - GF Advantage Growth Stock A (011425) was established on February 9, 2021, with a latest scale of 1.838 billion CNY, achieving a year-to-date return of 32.97% and a one-year return of 31.33%, ranking 946 out of 4206 and 1100 out of 3983 in its category respectively [2]

Group 1: Report Information - Report Title: Glass and Soda Ash Morning Report [1] - Date: November 25, 2025 [2] - Research Team: Energy and Chemicals Team of the Research Center [2] Group 2: Glass Market Price Changes - From November 17 to November 24, the prices of 5mm glass in various regions showed different degrees of decline. For example, the price of 5mm glass from Shahe Anquan decreased from 1070.0 to 1044.0, a decrease of 26.0; the price of 5mm glass from Shahe Great Wall decreased from 1053.0 to 1019.0, a decrease of 34.0 [2]. - The prices of FG05, FG01 contracts and FG 1 - 5 spread also changed. The FG05 contract price decreased from 1165.0 to 1158.0, a decrease of 7.0; the FG01 contract price decreased from 1029.0 to 1013.0, a decrease of 16.0; the FG 1 - 5 spread decreased from -136.0 to -145.0, a decrease of 9.0 [2]. Profit Changes - The profits of glass production in different regions and using different energy sources also changed. For example, the profit of North China coal - fired glass decreased from 102.0 to 73.3, a decrease of 28.8; the profit of North China natural gas glass in the 05FG contract increased from -223.6 to -209.5, an increase of 14.1 [2]. Market Conditions - The production and sales of glass factories in Shahe strengthened, but the low - price sales of Shahe traders were around 1010, and the shipment was average. The transaction of glass factories in Hubei Province improved, with the price around 990. The transaction of Hubei's mid - stream futures and spot weakened [2]. - The production and sales rates of glass in different regions were: 152 in Shahe, 115 in Hubei, 110 in East China, and 103 in South China [2]. Group 3: Soda Ash Market Price Changes - From November 17 to November 24, the prices of heavy soda ash in different regions showed different trends. The price of Shahe heavy soda ash decreased from 1180.0 to 1150.0, a decrease of 30.0; the price of South China heavy soda ash remained unchanged at 1350.0 [2]. - The prices of SA05, SA01, SA09 contracts and SA01 - SA05 spread also changed. The SA05 contract price decreased from 1304.0 to 1249.0, a decrease of 55.0; the SA01 contract price decreased from 1231.0 to 1183.0, a decrease of 48.0; the SA01 - SA05 spread decreased from -73.0 to -66.0, a decrease of 7.0 [2]. Profit Changes - The profits of soda ash production in different regions and using different production methods also changed. For example, the profit of North China ammonia - soda method decreased from -288.4 to -313.4, a decrease of 25.0; the profit of North China combined - soda method decreased from -415.7 to -426.6, a decrease of 10.8 [2]. Market Conditions - The spot price of heavy soda ash in Hebei delivery warehouses was around 1130, and the price delivered to Shahe was around 1150 [2]. - The upstream inventory of the soda ash industry continued to decline [2].