Core Viewpoint - The report outlines the issuance of convertible bonds by Guangzhou Jusa Long Engineering Plastics Co., Ltd., detailing the terms, conditions, and implications for bondholders [1][2][16]. Group 1: Issuance Details - The company is issuing 2,500,000 convertible bonds with a face value of RMB 100 each, raising a total of RMB 250 million [2][3]. - The net proceeds after issuance costs amount to RMB 242,669,687.67 [2]. - The bonds will have a term of 6 years, with interest rates increasing from 0.30% in the first year to 2.80% in the sixth year [3][4]. Group 2: Bond Terms - The bonds will pay interest annually, with the first payment occurring one year after issuance [4][5]. - The initial conversion price is set at RMB 36.81 per share, subject to adjustments based on various corporate actions [5][6]. - The conversion period starts on January 12, 2025, and ends on July 7, 2030 [5][6]. Group 3: Redemption and Buyback Provisions - The company has the right to redeem the bonds at 115% of the face value plus accrued interest under certain conditions [9][10]. - Bondholders can sell back their bonds to the company if the stock price falls below 70% of the conversion price during the last two interest years [11][12]. Group 4: Use of Proceeds - The funds raised will be allocated to specific projects as outlined in the offering documents, with a total investment requirement of RMB 300.45 million [13][14]. - The company will self-fund any shortfall if the actual proceeds are less than the required amount [14]. Group 5: Impact on Shareholders - The bond issuance and subsequent conversion price adjustments will not adversely affect the company's operational capabilities or debt repayment ability [16]. - The company plans to distribute cash dividends totaling RMB 19,589,800, impacting the conversion price of the bonds [15][16].

证券代码：301131 证券简称：聚赛龙 公告编号：2025-032 债券代码：123242 债券简称：赛龙转债 广州市聚赛龙工程塑料股份有限公司 关于召开 2025 年第一次临时股东会的通知 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 广州市聚赛龙工程塑料股份有限公司（以下简称"公司"）于 2025 年 6 月 9 日召开第三届董事会第二十五次会议，审议通过了《关于召开 2025 年第一次临 时股东会的议案》，公司决定于 2025 年 6 月 25 日召开 2025 年第一次临时股东 会。现将具体情况公告如下： 一、召开会议的基本情况 了《关于召开 2025 年第一次临时股东会的议案》，本次股东会的召集程序符合有 关法律、行政法规、部门规章、规范性文件和《公司章程》等规定。 （1）现场会议时间：2025 年 6 月 25 日（星期三）14:00 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的具体时 间为：2025 年 6 月 25 日 9:15-9:25、9:30-11:30，13:00-15:00；通过深圳证券交易 所互联网投票系统投票的 ...

证券研究报告 2025 年 6 月 9 日 星期一 【新股发行跟踪（20250609）】 一、上周新股表现情况 上周（6 月 2 日-6 月 6 日）共有 2 只新股上市，上市首日涨跌幅均值 为 37.74%。其中，无新股上市首日涨幅超 100%。上周无新股首日破发。 资料来源：东莞证券研究所，iFinD 二、周度新股上市情况走势 从周度新股上市规模来看，上周（6 月 2 日-6 月 6 日，下同）较上上 周（5 月 26 日-5 月 30 日，下同）相比，上市新股数量多 1 只，首发募资 金额多 44.03 亿元。 从周度上市新股表现来看，上周与上上周均无新股首日破发，与上上 周相比，上周首日涨幅超 100%的新股数量有所减少，上市首日涨跌幅均 值大幅下降。 资料来源：东莞证券研究所，iFinD 本报告的风险等级为中高风险。 本报告的信息均来自已公开信息，关于信息的准确性与完整性，建议投资者谨慎判断，据此入市，风险自担。请务必阅读 末页声明。 1 表 1：上周新股表现 股票代码 股票简称 上市日期 上市 板块 发行价 格（元） 发行市 盈率 证监会行业 首日收盘 涨跌幅(%) 603049.SH 中策橡胶 ...

长江期货聚烯烃周报 长江期货股份有限公司交易咨询业务资格：鄂证监期货字【2014】1号 【产业服务总部能化产业服务中心】 研 究 员：曹雪梅 执业编号:F3051631 投资咨询号:Z0015756 张 英 执业编号:F03105021 投资咨询号:Z0021335 联 系 人： 陈沐之 执业编号:F03142903 2025-06-09 01 核心观点总结 1 市场变化：6月6日塑料主力合约收盘价7066元/吨，较上周-106元/吨。LDPE均价为9216.67元/吨，环比+0.55%， HDPE均价为8062.50元/吨，环比-0.40%，华南地区LLDPE（7042）均价为7414.12元/吨，环比-0.43%。LLDPE 华南基差收于348.12元/吨，环比-19.10%，6-9月差-37元/吨（-27）。 2 基本面变化：成本利润端本周WTI原油报收64.77美元/桶，较上周+3.98美元/桶，布伦特原油报收66.65美元/桶， 较上周+4.04美元/桶，无烟煤长江港口报价为980元/吨（-0）。油制PE利润为-205元/吨，较上周-57元/吨，煤 制PE利润为1212元/吨，较上周+10元/吨。供 ...

恒鑫生活 20250606 摘要 恒鑫生活 2025 年一季度营收 4.19 亿元，同比增长 24.18%，归母净利 润 8,186 万元，同比增长 79.79%，净利润率显著提升，显示出强劲的 增长势头。股票交易者应关注其盈利能力和增长潜力。 公司在泰国巴真府金池工业园建立生产基地，已于 2025 年 4 月完成首 批产品出货，主要承接美国市场订单，旨在提升产能并应对中美贸易摩 擦带来的影响。投资者应关注该基地产能爬坡进度及对公司盈利的贡献。 为应对美国关税影响，恒鑫生活积极调整策略，将部分美国订单转移至 泰国工厂生产，预计 8-9 月实现满负荷生产，表明公司具备较强的风险 应对能力。投资者应关注贸易政策变化及公司应对措施。 恒鑫生活坚持可持续发展，可生物降解产品收入占比持续超过 50%，2024 年达到 54.71%，并积极参与国家标准制定，体现了公司 在环保领域的领先地位。投资者应关注环保政策对公司业务的积极影响。 公司与国内茶饮头部品牌在可降解领域展开深度合作，并有望扩大合作 范围，显示出公司在高端市场的竞争力。投资者应关注公司与大客户的 合作进展及订单增长情况。 Q&A 请介绍一下恒鑫生活的基本情况 ...

摘要：【图】2025年3月新疆维吾尔自治区初级形态的塑料产量统计分析 2025年3月初级形态的塑料产量统计： 初级形态的塑料产量：75.1 万吨 同比增长：3.0% 同比增长：3.5% 增速较上一年同期变化：高3.6个百分点 据统计，2025年3月新疆维吾尔自治区规模以上工业企业初级形态的塑料产量与上年同期相比增长了 3.0%，达75.1万吨，增速较上一年同期高3.6个百分点，增速较同期全国低7.2个百分点，约占同期全国 规模以上企业初级形态的塑料产量1225.91792万吨的比重为6.1%。 详见下图： 图1：新疆维吾尔自治区初级形态的塑料产量分月（当月值）统计图 2025年1-3月初级形态的塑料产量统计： 初级形态的塑料产量：214.7 万吨 增速较上一年同期变化：高3.2个百分点 据统计，2025年1－3月，新疆维吾尔自治区规模以上工业企业初级形态的塑料产量与上年同期相比增长 了3.5%，达214.7万吨，增速较上一年同期高3.2个百分点，继续保持增长，增速较同期全国低6.1个百分 点，约占同期全国规模以上企业初级形态的塑料产量3441.04885万吨的比重为6.2%。详见下图： 图2：新疆维吾尔自治区 ...

聚烯烃：短期或反弹，但趋势仍有压力 国泰君安期货研究所·张驰 投资咨询从业资格号：Z0011243 国泰君安期货研究所·陈嘉昕 投资咨询从业资格号：Z0020481 日期：2025年6月8日 Guotai Junan Futures all rights reserved, please do not reprint CONTENTS 综述 01 聚丙烯供需 02 聚乙烯供需 03 Special report on Guotai Junan Futures 2 综述 1 LLDPE观点：短期震荡为主 Special report on Guotai Junan Futures 5 资料来源：国泰君安期货研究 PP：短期或反弹 但趋势仍有压力 ◆ 首先、贸易战因素变换频繁，正因如此当下市场当方面持续下跌在宏观端概率不大，反而在谈判临近尾 声需要警惕。在供应端，6月检修仍偏高，但目前检修量不足以改变供需格局，新增产能大大抵消了供应 端的努力。成本端仍有压力因此短期市场或以震荡市为主，但趋势仍有压力； Special report on Guotai Junan Futures 4 资料来源：国泰君安期货研究 ◆ ...

Group 1 - The North Exchange will officially launch the North Specialized and Innovative Index on June 30, 2025, which will provide multi-dimensional investment targets and performance benchmarks [1][9] - The index will consist of the 50 largest "little giant" companies listed on the North Exchange, reflecting the overall performance of specialized and innovative companies [1][9] - As of June 6, 2025, there are 146 national-level specialized and innovative "little giant" companies listed on the North Exchange, accounting for 54.89% of the total [1][14][17] Group 2 - In 2024, the average revenue of national-level specialized and innovative companies on the North Exchange was 613 million yuan, while non-national-level companies had an average revenue of 768 million yuan, with year-on-year changes of -6.88% and +2.40% respectively [1][15] - The average net profit attributable to shareholders for national-level specialized and innovative companies was 47.83 million yuan, compared to 35.16 million yuan for non-national-level companies, with year-on-year changes of -20.72% and -24.34% respectively [1][15] - The gross profit margin for national-level specialized and innovative companies was 25.11%, while for non-national-level companies it was 21.83% [21][24] Group 3 - The North Exchange's A-shares had an average daily trading volume of 24.83 billion yuan, a decrease of 2.38% from the previous week, with a turnover rate of 6.18% [2][30] - The North 50 Index closed at 1427.06 points, with a week-on-week increase of 1.30% and a PE ratio of 74.42X [2][31][35] - The overall PE ratio for North Exchange A-shares increased to 50.21X, with 144 companies having a PE ratio exceeding 45X, accounting for 54.55% [2][33][38] Group 4 - The five major industries on the North Exchange, including high-end equipment, information technology, new chemical materials, consumer services, and biomedicine, have TTM PE ratios of 40.68X, 101.69X, 42.50X, 56.05X, and 51.53X respectively [2][37][39] - The North Exchange focuses on serving innovative small and medium-sized enterprises, particularly in advanced manufacturing and modern service industries, to promote high-quality economic development [1][14]

消费行业围绕微笑曲线的两端布局，左端关注软饮料为代表的大众品消费， 右端关注走出二次成长曲线的新消费。按照经济周期的历史脉络，A 股行情 先后启动顺序为红利低估（2024 年银行股为代表）、科技成长（2025 年初 的机器人和大模型）、内需消费（当前的大众品+新消费），目前处在第二 到三阶段的切换。港股市场"悦己"属性的新消费标的，在年初以来持续上 涨并形成阶段主线，热点题材则是围绕技术弯道超车，以及寻找阶段性成长 主题两条脉络，先后挖掘 DeepSeek→航天军工→创新药投资机会。 后续关注在海外不确定性和复杂多变贸易环境下兼具科技和安全性的板块。 结合出口外贸体量和比例的不可替代性，以及技术/资源/流程等不可替代性 来看，化学原料药、生物医药、塑料加工机械、面板、钛白粉、服务机 器人、碳纤维、电子化学品的行业壁垒最强，两方面不可替代程度较上 一轮贸易摩擦期间均上涨超过 20%的的行业有兵器兵装、高空作业车、 石油开采、炼焦煤等。此外，建议关注科技导向下并购重组主题的投资 机会。前五个月共计近 2500 项上市公司公告披露了并购重组进展，且 呈现逐月上行趋势，机械设备、电子、医药生物等新兴产业的并购重组 项 ...

Core Insights - The pollution caused by discarded plastics and the sustainable development of the plastic industry have become global environmental and technological issues of significant concern [1][2][3] Group 1: Event Overview - A high-level academic salon on "Green and Sustainable Development of Plastics" was held on June 7 in Beijing, attended by experts from research institutions, universities, and related enterprises [1] - Keynote speeches were delivered by prominent academicians, focusing on the prevention of plastic pollution and the sustainable development of the plastic industry [1][2] Group 2: Research and Innovations - Wang Qi, a professor from Sichuan University, presented research on the efficient recycling of mixed and cross-linked waste plastics using environmentally friendly methods [1] - Tang Yong emphasized the need for a sustainable development concept that integrates the retirement and creation of plastics, sharing preliminary results of his explorations [1][2] - Chen Xuesi highlighted the significance of biodegradable polymers like polylactic acid in replacing traditional petrochemical plastics and discussed their industrialization [2] Group 3: Future Directions and Recommendations - Experts proposed several strategies for achieving green and sustainable development in the plastic industry, including reducing the use of single-use plastics, developing new degradable materials, and increasing the use of bio-based plastics [3] - There is a call for increased support for the research and development of new biodegradable plastics that can decompose into carbon dioxide and water, thereby minimizing environmental harm from non-recyclable single-use plastics [3]