03:35 记者：孙正好 新华社音视频部制作 陕西铜川耀州窑是我国陶瓷烧造技艺的"六大窑系"之一，耀州瓷是中国北方青瓷的千年瑰宝，以其特有的宋代橄榄青釉及精湛的刻花技艺著称，被誉为宋代 刻花青瓷之冠，更以"巧如范金、精比琢玉"的烧制技艺流传于世。 鼎盛时期，耀瓷曾远销到亚洲、非洲、欧洲等地，是中国瓷器的闪亮名片之一。近年来，陕西省铜川市正推动传统耀州瓷产业在传承中创新、在创新中发 展，推动陶瓷产业高质量发展。 ...

Core Insights - The article highlights the rich history and cultural significance of Dehua porcelain, particularly from Sanban Town, which has evolved into a major industry with an annual output value of approximately 10 billion yuan [2][6][11] Industry Overview - Dehua porcelain, known for its high-quality kaolin clay, has been produced for centuries, with a significant export history dating back to the Song Dynasty [2][5] - Sanban Town is home to over 1,000 ceramic enterprises, exporting products to more than 190 countries and regions, and has developed a comprehensive industrial chain around porcelain production [2][6] Market Dynamics - The rise of tea culture in the 1990s led to a surge in demand for ceramic tea sets, prompting local manufacturers to pivot towards tea ware production [7] - The establishment of the China Tea Set City, with an investment of 2.5 billion yuan, has created a modern trading platform for ceramic tea products, housing over 600 shops [7] Innovation and Modernization - Traditional ceramic production methods have been modernized, transitioning from family workshops to smart factories and digital management systems [5][10] - New product designs, including colorful and decorative tea sets, have been developed to appeal to younger consumers, reflecting changing market preferences [8][10] Cultural Heritage and Tourism - The preservation of traditional firing techniques, such as wood firing, continues to attract tourists, enhancing the cultural experience associated with Dehua porcelain [10] - The establishment of the Yueji Kiln Cultural and Creative Industry Park allows visitors to engage with traditional pottery-making processes and appreciate the craftsmanship [10]

Core Viewpoint - Hunan Hualian Ceramics Co., Ltd. has announced a change in its continuous supervision institution and sponsor representative, signing new tripartite and quadripartite supervision agreements for the management of raised funds [2][3][18]. Fundraising Overview - The company has publicly issued 62,966,700 shares of RMB ordinary shares (A shares), raising a total of RMB 589,997,979.00, with a net amount of RMB 532,679,111.08 after deducting related expenses of RMB 57,318,867.92 [3][4]. Fund Management Agreements - The company has established a special account for raised funds with China Bank, with a balance of RMB 52,209,249.61 as of August 19, 2025, designated solely for the technical transformation project of daily-use ceramics production line [4][5]. - The tripartite supervision agreement stipulates that the sponsor institution, Zhongyuan Securities, will supervise the use of raised funds and conduct at least biannual inspections [5][6]. - The quadripartite agreements with subsidiaries stipulate similar fund management protocols, ensuring that funds are used exclusively for designated projects [10][13]. Compliance and Reporting - The agreements require monthly reconciliation statements from the bank, and any withdrawals exceeding RMB 50 million or 20% of the net raised funds must be reported promptly [5][10]. - The agreements also outline the responsibilities and rights of each party, including the ability of the sponsor to change representatives and the procedures for addressing breaches of contract [9][12]. Documentation - The company has made available the signed tripartite and quadripartite agreements for public record, ensuring transparency in the management of raised funds [17][18].

Core Viewpoint - The company has changed its sponsor institution and representative, signing new tripartite and quadripartite supervision agreements for the management of raised funds [2][3][15] Fundraising Basic Information - The company publicly issued 62,966,700 shares of A-shares, raising a total of RMB 532,679,111.08 after verification by Tianjian Accounting Firm [3][4] Fund Management Agreements - The company signed a tripartite supervision agreement with Zhongyuan Securities and China Bank for the management of funds specifically for the daily ceramic production line technology renovation project [5][6] - A quadripartite supervision agreement was signed for the energy comprehensive utilization and carbon reduction renovation project of its subsidiary, Yibailei [10][12] - Another quadripartite supervision agreement was established for the intelligent manufacturing industrialization project of its subsidiary, Hongguanyao [12][14] Fund Storage and Usage - The raised funds must be used solely for the specified projects and cannot be diverted for other purposes [6][10] - The supervising institution has the right to conduct on-site inspections and inquiries at least every six months to ensure compliance with the fund management regulations [8][13] Compliance and Reporting - The company must notify the supervising institution of any changes in the representative and provide necessary documentation for verification [9][14] - In case of non-compliance, the supervising institution has the authority to report to regulatory bodies and may terminate the agreement [9][14]

Core Insights - Dehua, known as the "World Capital of Ceramics," is a major hub for ceramic production and export in China, with over 4,500 ceramic enterprises and products sold to more than 190 countries and regions [1][2] - The Dehua ceramics industry has a rich history, with its white porcelain being highly regarded since the Song and Yuan dynasties, and it has evolved to incorporate various artistic styles [1] - The China Ceramic E-commerce Logistics Park, developed by Quanzhou Jiaofa Group and the Dehua County government, offers comprehensive services to ceramic enterprises, enhancing supply chain efficiency [2] Industry Development - The logistics park provides a one-stop service including warehousing, customs clearance, and digital integration of supply chain resources, addressing procurement and delivery challenges [2] - Local companies like Shunmei Group are expanding their international presence, exporting to over 100 countries and collaborating with major brands such as Disney and Walmart [2] - Shunmei Group has also produced licensed ceramic mascots for the 2022 Beijing Winter Olympics, emphasizing the integration of cultural creativity into their products [2] Financial Support - Financial institutions have played a crucial role in supporting the Dehua ceramics industry, with Shunmei Group receiving a credit line of 7.8 million yuan to stabilize production amid raw material price fluctuations [3] - The total credit amount for Shunmei Group from local banks has reached 30.83 million yuan, with a loan balance of 13.66 million yuan [3] - In 2024, Shunmei Group is set to engage in derivative transactions totaling 51.93 million USD, showcasing the financial backing for its international operations [3]

Core Insights - A new company named Jingdezhen Ciping Ceramics Co., Ltd. has been established with a registered capital of 100,000 RMB [1] - The legal representative of the company is Tong Weikang [1] Company Overview - The company operates in the general project category, focusing on the sale of daily-use ceramic products, internet sales (excluding goods requiring permits), and tea sets [1] - Additional sales include arts and crafts products, ceremonial supplies (excluding ivory and its products), and retail of arts and crafts and collectibles (excluding ivory and its products) [1] - The company also engages in the sale of non-metallic minerals and products, agricultural and sideline products, as well as professional design services [1] Technical Services - The company provides various technical services, including technical development, consulting, communication, transfer, and promotion, except for projects that require approval [1]

Core Viewpoint - The article discusses the historical significance and unique characteristics of Changsha Kiln ceramics, highlighting its rise in the Tang Dynasty and its competitive edge in both domestic and international markets [1][2]. Group 1: Historical Context - During the Tang Dynasty, the ceramic industry in China experienced a dual peak with "Southern Green and Northern White" ceramics, alongside the emergence of Changsha Kiln's underglaze colored porcelain, which broke the dominance of single-color glazes [1]. - Changsha Kiln, located in Hunan Province, gained prominence during the An Lushan Rebellion and the Huang Chao Uprising, establishing itself alongside Yue Kiln and Xing Kiln [1]. Group 2: Competitive Advantages - Changsha Kiln achieved significant success in both domestic and foreign markets due to its high cost-performance ratio, producing simple yet affordable ceramics accessible to ordinary consumers [3]. - The kiln also catered to children by creating toy-like ceramics, demonstrating innovative marketing strategies that included customization for foreign merchants, leading to a wide export reach across over 20 countries [3]. - The marketing approach included branding directly on the ceramics, akin to modern advertising, enhancing its appeal and recognition in the market [3]. Group 3: Cultural Significance - The ceramics from Changsha Kiln featured poetry, reflecting the cultural milieu of the Tang Dynasty, where poetry was widely appreciated and accessible to the general populace [4]. - Notable poems inscribed on the ceramics served as social tools, enhancing their value beyond mere utility and contributing to their popularity [4].

Meeting Overview - The third extraordinary general meeting of shareholders of Hunan Hualian Ceramics Co., Ltd. was held on July 31, 2025, in Liling City, Hunan Province, combining on-site and online voting methods [4]. - A total of 4 shareholders and authorized representatives attended the meeting on-site, representing 161,892,056 shares, accounting for 64.28% of the total voting shares [5]. - 83 shareholders participated through online voting, representing 347,100 shares, accounting for 0.14% of the total voting shares [6]. Proposal Voting Results - The proposal regarding the company's compliance with conditions for issuing shares to specific targets was approved, with the related shareholder, Liling Zhiyu Industrial Investment Co., Ltd., abstaining from voting due to holding 114,000,000 shares [8][9]. - The proposal for the 2025 annual issuance of shares to specific targets was also approved, with the same abstention from the related shareholder [10]. - The proposal for the issuance of A-shares to specific targets was approved, with the related shareholder abstaining from voting [11]. - The proposal for the establishment of a special account for raised funds and authorization for signing the fund supervision agreement was approved, with the related shareholder abstaining from voting [12]. - The proposal for the report on the use of previously raised funds was approved, with the related shareholder abstaining from voting [12]. Legal Opinions - The legal opinion from Hunan Qiyuan Law Firm confirmed that the meeting's convening and procedures complied with the Company Law and the company's articles of association, and the voting results were valid [14]. Board Meeting Overview - The 19th meeting of the fifth board of directors was held on July 31, 2025, with all nine directors present, and the meeting complied with legal and procedural requirements [25]. - The board approved the revised proposal for the 2025 annual issuance of A-shares to specific targets, which had previously been approved by the independent directors [27]. - The board also approved the revised feasibility analysis report for the use of raised funds from the 2025 annual issuance of A-shares [30]. Daily Related Transactions - The board approved the addition of daily related transactions with Jiangxi Jinhui Pigment Co., Ltd. and Hunan Kehui Ceramic Mould Co., Ltd., with an estimated total amount not exceeding 35 million yuan for 2025 [21][43]. - The related transactions are necessary for the company's supply chain integration and are expected to enhance operational efficiency [53].

一、本次发行的背景和目的 （一）本次发行的背景 湖南华联瓷业股份有限公司 论证分析报告 （修订稿） 二○二五年七月 湖南华联瓷业股份有限公司（以下简称"华瓷股份"或"公司"）是在深圳 证券交易所主板上市的公司，为满足公司战略发展规划需求，根据《中华人民共 和国公司法》《中华人民共和国证券法》《上市公司证券发行注册管理办法》和 《湖南华联瓷业股份有限公司章程》等有关法律、法规和规范性文件的规定，公 司拟向特定对象发行股票（以下简称"本次发行"、"本次向特定对象发行"） 并募集资金，公司编制了本次向特定对象发行股票方案的论证分析报告。 本报告中如无特别说明，相关用语具有与《华瓷股份 2025 年度向特定对象 发行 A 股股票预案（修订稿）》中相同的含义。 深化中越命运共同体建设 （1）我国企业对共建"一带一路"国家投资与贸易快速发展 随着经济全球化趋势不断深入， 我国为积极推动国内经济发展， 鼓励部分企业 "走 出去"开展多元化投资，参与国际化市场竞争，以此来提升企业的行业地位。 "一带 一路"建设倡议是我国"走出去"战略中的重要一步，是加快构建新发展格局、推 动产业链供应链国际合作的重要措施。该倡议自提出以来， ...

Group 1 - The company plans to issue shares to specific investors, including its controlling shareholder, Zhi Yu Investment, and other qualified institutional investors, subject to regulatory approval [2][3][18] - The total amount to be raised from this issuance is not to exceed 700 million yuan, with the funds intended for specific investment projects [25][26] - The issuance will not change the company's control structure, as Zhi Yu Investment will remain the controlling shareholder post-issuance [27][31] Group 2 - The company aims to enhance its production capacity and efficiency by establishing a new production base in Vietnam, responding to increasing market demand for ceramic products [10][15][17] - The company has a strong international presence, with over 200 overseas clients across more than 60 countries, and aims to further expand its market share in the global ceramic industry [14][17] - The issuance is part of a broader strategy to align with national initiatives such as the Belt and Road Initiative and to strengthen supply chain cooperation with ASEAN countries [11][13][17] Group 3 - The issuance process will involve a pricing mechanism based on the average trading price of the company's shares over the 20 trading days prior to the pricing date [21][22] - Zhi Yu Investment has committed to subscribe for shares amounting to 30 million yuan, agreeing to the same price as other investors [6][21][31] - The company has established a shareholder return plan for 2025-2027, which includes measures to address potential dilution of immediate returns from the issuance [7][12]