中国经济网北京1月3日讯深交所近日发布关于终止对新明珠集团股份有限公司(简称"新明珠")首次公开 发行股票并在主板上市审核的决定。 新明珠原拟发行不超过414,026,666股，募集资金200,886.74万元，用于新型节能环保板材项目二期技术 改造项目、湖北新明珠绿色建材1#产线技改项目、陶瓷工艺及材料研发中心建设项目、品牌升级建设项 目、数智平台建设项目、补充流动资金。 | | | | | 单位:万元 | | --- | --- | --- | --- | --- | | 序号 | 项目名称 | 频目 投资 项 | 拟使用 黄景质金 | 比例 | | 1 | 新型节能环保板材项目二期技术改造项目 | 62.795.93 | 62.795.93 | 31.26% | | 2 | 湖北新明珠绿色建材 1#产线技改项目 | 27.655.46 | 27.655.46 | 13.77% | | ਤੇ | 陶瓷工艺及材料研发中心建设项目 | 10.888.80 | 10.888.80 | 5.42% | | ব | 品牌升级建设项目 | 38.980.00 | 38.980.00 | 19.40% | | રે | ...

雄成瓷业的转型蝶变，正是北流市陶瓷产业整体智能化升级的生动缩影。五年来，北流通过产业升级资 金、"桂惠贷"等政策工具，帮助51家陶瓷企业争取扶持资金项目229个，总金额3728万元，累计兑现财 政扶持2983万元。全市累计6家规模以上陶瓷企业申报自治区技术改造资金，建成智能生产线39条。 绿色创新多元发展拓新局 面对传统产业转型压力与市场环境深刻变革，北流市打破传统发展路径依赖，将工艺、科技创新作为绿 色发展关键变量，推动产业向多元格局拓展。"十四五"期间，北流市陶瓷企业研发经费投入5458万元， 创新活力持续迸发。 北流市作为我国日用陶瓷四大产区、"中国陶瓷名城""中国日用陶瓷出口基地"，有着源远流长的制陶技 艺与坚实的产业基础。但长期面临产品附加值低、创新投入不足等问题，智能化改造进度滞后于产业需 求。为此，北流市制定并深入落实《北流市陶瓷产业转型升级发展规划》，推动3D打印、数字化设计 等先进技术与传统制造深度融合。 "升级后我们企业节省了40%的劳动力，生产综合成本降低20%、产能提升15%，产品优良率提高到 99%，这也成为了我们能够快速响应追加订单的关键。今年我们在广交会上就收获意向订单超500万 ...

（原标题：顶级IP邂逅佛山陶瓷：禅城"老窑火"淬炼产业"新磁场"） 三年以来，美陶湾片区吸引力与潜力大大提升。 南方财经记者赵晓晨 佛山报道 12月5日清晨，佛山禅城南风古灶龙窑广场上已是一片温热。窑门开启，升腾的窑烟中，形态各异的陶 艺作品展现出"入窑一色，出窑万彩"的窑变魅力。 围观者中除了本地陶艺家，还有一群特殊客人——全球50位潮玩IP主理人。他们带着三十多个深受年轻 人喜爱的IP形象，仔细观察刚出窑的陶坯，触摸千年窑火留下的温度与随机美感。这场名为"骉骉鎂 光"的开窑盛会，拉开了2025第九届中国陶瓷创意周的序幕。 最近半个月内，禅城化身为一座文化会客厅。中国陶瓷创意周、大湾区功夫电影展、岭南文化IP100创 意中心揭牌等多项活动密集展开。功夫电影展推出"功夫探岭南"沉浸式活动，引导市民走入祖庙、黄飞 鸿纪念馆等功夫地标；与此同时，多场产业对接会同步举行，信息密度极高。 禅城将以陶瓷为代表的产业和岭南文化资产置于舞台中央，接受来自产业、创意和市场的审视。这背后 体现的，是一种根植于自身文化基因、务实而富有弹性的发展思路。禅城通过打造高能级的文化事件汇 聚目光，改造并开放具有美学价值的新空间提供沉浸体 ...

（记者 曾健辉） 2024年1至12月份，天安新材的营业收入构成为：高分子复合饰面材料占比49.1%，建筑陶瓷占比 46.98%，整装业务占比2.61%，其他业务占比1.31%。 每经AI快讯，天安新材（SH 603725，收盘价：9.3元）12月8日晚间发布公告称，公司第五届第四次董 事会会议于2025年12月8日在公司会议室以现场和通讯相结合的方式召开。会议审议了《关于公司2026 年度日常关联交易预计的议案》等文件。 每经头条（nbdtoutiao）——处方药变"瘾品"：国内首次报告普瑞巴林滥用致成瘾病例，网络平台暴 露"无病历可购药"漏洞，列管与否尚需科学考量 截至发稿，天安新材市值为28亿元。 ...

Core Insights - The overall price index for Linyi Mall in the current month is 102.18 points, reflecting a month-on-month increase of 0.17 points (0.17% rise), a year-on-year decrease of 1.75 points (1.68% drop), and a decline of 1.66 points (1.60% drop) compared to the beginning of the year [1]. Price Index Summary - Among 14 categories of goods, 8 categories saw price increases, 3 remained stable, and 3 experienced price declines. The top two categories with price increases are steel and ceramics, while the top two categories with price declines are clothing and daily necessities [3]. Steel Category - The monthly price index for steel is 95.96 points, with a month-on-month increase of 0.65 points. All subcategories, including construction steel, profiles, plates, and pipes, showed price increases. In November, steel prices fluctuated, with significant increases at the beginning of the month, followed by stability in the latter half. The rise in upstream raw material prices supported the cost side, leading to a slight increase in market steel prices. However, terminal demand remains weak, limiting the growth in sales volume [5]. Ceramics Category - The monthly price index for ceramics is 106.44 points, with a month-on-month increase of 0.58 points. The indices for sanitary ceramics and architectural ceramics increased by 2.41 points and 0.06 points, respectively, while daily ceramics saw a price decline. Seasonal changes and reduced construction activities have led to a seasonal sales slump for products like toilets and tiles. However, increased wedding activities and a recovering catering industry have boosted demand for daily ceramics, resulting in a slight increase in sales volume and revenue [7]. Clothing and Accessories Category - The monthly price index for clothing and accessories is 102.71 points, reflecting a month-on-month decrease of 0.21 points. Both clothing and accessories categories experienced declines of 0.43 points and 0.12 points, respectively. The market showed a "rise then fall" pattern in November, with strong demand for winter products in the first half of the month due to significant temperature drops. However, the early "Double Eleven" promotions drained consumer demand, leading to a decline in sales for children's and women's clothing in the latter half of the month [8][13]. Daily Necessities Category - The monthly price index for daily necessities is 102.77 points, with a month-on-month decrease of 0.04 points. Significant price drops were observed in bags, personal care and beauty products, and toys. The decline in prices is primarily driven by a notable drop in bag sales, while other categories like labor protection tools and kitchenware saw stable prices due to increased wholesale volumes [11].

Core Viewpoint - The company, Mona Lisa (002918), is navigating a challenging environment in the ceramic industry, focusing on high-quality development amidst a transition from growth to competition in a saturated market. The company is also assessing its receivables in light of ongoing adjustments in the real estate sector. Group 1: Company Operations and Industry Overview - The company primarily engages in the research, production, and sales of building ceramics. As of the end of 2024, there were 993 large-scale enterprises in the building ceramic industry, a decrease of 29 from 2023, with an 11.75% exit rate of production lines compared to 2022. The industry is shifting from an incremental growth phase to a competitive phase, with expectations of increased concentration [1]. - The ceramic industry is expected to continue its development trend into 2025, driven by favorable national policies and significant market demand from urbanization, renovation of existing properties, and public building decoration [1]. - The company has not yet planned to establish production bases abroad, although some competitors are doing so to mitigate high transportation costs and tariffs. The company will disclose any future plans in accordance with regulations [2]. Group 2: Financial Performance and Market Conditions - For the first three quarters of 2025, the company reported a revenue of 2.977 billion yuan, a year-on-year decrease of 16.66%. The net profit attributable to shareholders was 80.5 million yuan, down 42.71%, with a gross margin of 27.12% [7]. - The real estate market remains under adjustment, with no signs of stabilization in new investments, completions, or sales. However, the existing real estate market still holds substantial demand, and the ceramic market, despite adjustments, maintains significant capacity [5]. - The company is actively monitoring the collectability of its receivables from real estate clients and has recognized credit impairment losses where necessary, indicating a cautious approach to potential future bad debts [3]. Group 3: Industry Trends and Quality Standards - The ceramic industry is undergoing automation and smart upgrades, enhancing production efficiency. However, the unique economic and policy environments abroad mean that practices cannot be directly replicated in foreign markets [4]. - The establishment of a multi-dimensional quality evaluation system for ceramic products is expected to drive quality upgrades in the industry, helping companies better position their products and improve production processes [6].

Group 1: Company Overview and Industry Context - The company primarily engages in the research, production, and sales of building ceramics. As of the end of 2024, there were 993 large-scale enterprises in the building ceramics industry, a decrease of 29 from 2023. The exit rate of production lines in the ceramics industry was 11.75% compared to 2022 [2] - The ceramics industry is transitioning from an era of incremental growth to one of stock competition, with an expected increase in industry concentration. The industry is anticipated to continue its development trend from 2024, driven by national policies and market demands in urbanization, stock housing renovation, and public building decoration [2] Group 2: Export and International Strategy - The export of ceramic products faces high transportation costs due to their heavy nature. Recent years have seen some companies "go out" to establish production bases in Southeast Asia, the Middle East, Central Asia, Africa, and South America to mitigate the impacts of tariffs and anti-dumping measures [2] - The company currently has no plans to establish overseas production bases but will disclose any future arrangements as per regulations [3] Group 3: Financial Health and Risk Management - The company has conducted an analysis of the recoverability of accounts receivable and has recognized significant impairment indicators, leading to credit impairment losses on certain receivables from real estate clients. The company will continue to monitor the operational and risk conditions of these clients [3] - The real estate market has not yet stabilized, with new investment, completion, and sales indicators still in a downturn. However, the large existing real estate market still holds significant demand [3] Group 4: Industry Trends and Quality Standards - The ceramic industry is undergoing automation and intelligent upgrades, with a high degree of standardization in operations. This allows for continuous improvement in production efficiency through employee training [3] - The establishment of a multi-dimensional quality evaluation system for ceramic products is significant for promoting industry quality upgrades and guiding market segmentation, which is crucial for high-quality development [3] Group 5: Financial Instruments and Future Considerations - The current conversion price for the company's convertible bonds is set at 19.84 CNY per share. The company will consider various factors, including operational conditions and market trends, when deciding on any potential adjustments to the conversion price [3]

Investment Rating - The industry investment rating is maintained as "Positive" [6] Core Viewpoints - Despite the pressure on the construction materials industry due to the real estate market, some companies are expected to perform well due to proactive strategies and effective resource integration, particularly in overseas markets [4][9] - Domestic demand for construction materials remains weak, with significant declines in housing construction metrics, leading to continued operational challenges for domestic companies [9] - Companies like Huaxin Cement and Keda Manufacturing have shown strong performance in their overseas operations, with notable increases in net profits and revenue from international markets [9] Summary by Sections - **Investment Suggestions and Targets**: The report suggests focusing on companies that have successfully expanded overseas, such as Huaxin Cement and Keda Manufacturing, despite the overall challenging domestic market conditions [4][9] - **Market Performance**: Data from the National Bureau of Statistics indicates a decline in housing construction area by 9.4% year-on-year, with new construction area down by 18.9% and completion area down by 15.3% in the first nine months of 2025 [9] - **Company Performance**: Huaxin Cement reported a net profit of 2.0 billion yuan, a 76.0% increase year-on-year, with overseas operations contributing significantly to its revenue [9] Keda Manufacturing achieved a net profit of 1.15 billion yuan, up 63.5% year-on-year, with substantial growth in its overseas business [9]

Core Viewpoint - The 2025 China (Beijing) International Boutique Ceramics Expo has opened, themed "Exquisite Porcelain and Beautiful Ceramics, Celebrating a Prosperous Era," showcasing domestic and international ceramic products and industry strengths, creating a platform for deep dialogue between tradition and future, art and technology [1][3]. Group 1 - The expo is guided by the China National Light Industry Council and hosted by the China Ceramic Industry Association, featuring two new thematic exhibitions on smart bathrooms and architectural ceramics, as well as special ceramics across various categories including daily-use art porcelain and high-end functional porcelain [3]. - Key ceramic-producing regions in China, such as Shandong, Shanxi, and Zhuzhou in Hunan, along with international brands like Japan's Noritake, are participating in the expo to showcase the achievements of the ceramic industry's development towards "high-end, intelligent, and green" [3]. - A "New Year Ceramic Gift Package" was launched during the opening ceremony, designed by Jingdezhen Ceramic University and produced by national brand enterprises, with a limited edition of 100,000 sets [3]. Group 2 - The expo will host over ten activities, including a forum on high-quality development in the ceramic industry, international ceramic art exchanges, a children's ceramic expo, and live-streaming sales, alongside immersive experiences such as science exhibitions, tasting events, and interactive learning [3]. - The event serves as a "concentrated review platform" for the achievements of the ceramic industry, promoting mutual learning of Chinese and foreign ceramic cultures and industrial collaboration, injecting new momentum into the high-quality development of the industry [3].

Core Insights - Keda Manufacturing reported significant growth in revenue and profit for the first three quarters of 2025, with revenue reaching 12.605 billion yuan, a year-on-year increase of 47.19%, and net profit attributable to shareholders at 1.149 billion yuan, up 63.49% [1][2] Financial Performance - For Q3 2025, the company achieved revenue of 4.417 billion yuan, marking a 43.89% year-on-year increase, and net profit attributable to shareholders of 404 million yuan, which is a 62.65% increase compared to the same period last year [1] - The company's net profit excluding non-recurring items for Q3 was 362 million yuan, reflecting a 53.25% year-on-year growth [1] Business Expansion - Keda Manufacturing is advancing its global strategy by establishing a subsidiary in Egypt and adding eight operational sites in India and Egypt to enhance its overseas service network [1] - The company is also focusing on service-oriented and general-purpose ceramic machine strategies, with notable growth in its ink business and the construction of the KAMI ink factory in Turkey [1] Overseas Operations - The company’s ceramic project in Côte d'Ivoire began mass production in July 2025, contributing to its operations in seven African countries with a total of 21 ceramic production lines, 2 glass production lines, and 2 sanitary ware production lines, achieving an annual capacity of over 200 million square meters of ceramic tiles, 400,000 tons of glass, and 2.6 million sanitary ware products [1] Lithium Battery Materials - In the lithium battery materials sector, Keda Manufacturing's artificial graphite product sales reached nearly 70,000 tons in the first three quarters, with both sales and production increasing by over 300% year-on-year, enhancing profitability [2] - The company’s joint venture, Lanke Lithium, produced approximately 31,600 tons of lithium carbonate and sold about 31,500 tons, contributing 271 million yuan to Keda's net profit [2] Future Outlook - The company plans to continue leveraging its strategic planning, global layout, and technological innovation capabilities to achieve its annual operational goals in the fourth quarter [2]