从中泰化学十大流通股东角度 2月24日，中泰化学涨5.06%，截至发稿，报7.47元/股，成交3.58亿元，换手率1.92%，总市值193.47亿 元。 资料显示，新疆中泰化学股份有限公司位于新疆乌鲁木齐经济技术开发区阳澄湖路39号，成立日期2001 年12月18日，上市日期2006年12月8日，公司主营业务涉及聚氯乙烯树脂、离子膜烧碱等化工产品的生 产和销售。主营业务收入构成为：聚氯乙烯39.69%，氯碱类产品14.99%，粘胶纱线14.83%，其他煤化 工产品11.21%，粘胶纤维7.17%，其他纺织产品5.91%，其他(补充)3.40%，现代贸易1.35%，物流运输 1.21%，自制电0.24%。 从基金十大重仓股角度 数据显示，东证资管旗下1只基金重仓中泰化学。东方红核心价值混合A（024429）四季度持有股数420 万股，占基金净值比例为2.23%，位居第九大重仓股。根据测算，今日浮盈赚取约151.2万元。 东方红核心价值混合A（024429）成立日期2025年6月6日，最新规模4.78亿。今年以来收益7%，同类排 名2686/8994；成立以来收益18.23%。 责任编辑：小浪快报 东方红核心价值 ...

从中盐化工十大流通股东角度 声明：市场有风险，投资需谨慎。 本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本 文出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 数据显示，华夏基金旗下1只基金位居中盐化工十大流通股东。华夏中证1000ETF（159845）三季度新 进十大流通股东，持有股数478.16万股，占流通股的比例为0.33%。根据测算，今日浮盈赚取约224.73 万元。 华夏中证1000ETF（159845）成立日期2021年3月18日，最新规模499.08亿。今年以来收益8%，同类排 名1610/5580；近一年收益33.65%，同类排名1876/4297；成立以来收益40.24%。 2月24日，中盐化工涨5.32%，截至发稿，报9.31元/股，成交1.82亿元，换手率1.36%，总市值136.51亿 元。 华夏中证1000ETF（159845）基金经理为赵宗庭。 资料显示，中盐内蒙古化工股份有限公司位于内蒙古阿拉善左旗乌斯太镇阿拉善经济开发区，成立日期 1998年12月31日，上市日期2000年12月22 ...

Report Summary - The report presents the top ten convertible bonds in February 2026, along with detailed information about the issuing companies, including their business scope, financial data, and key attractions [1][6]. Top Ten Convertible Bonds in February 2026 1. Zhongte Convertible Bond - Rating: AAA; 1 - end closing price: 128.153 yuan; conversion premium rate: 73.5%; PE - TTM of the underlying stock: 14.75 [1][8]. - Company: A global leader in special - steel manufacturing with an annual production capacity of about 20 million tons. It has a complete industrial chain and multiple production bases [13]. - Financials: In 2024, revenue was 109.203 billion yuan (-4.22% yoy), net profit attributable to shareholders was 5.126 billion yuan (-10.41% yoy). In the first three quarters of 2025, revenue was 81.206 billion yuan (-2.75% yoy), net profit attributable to shareholders was 4.33 billion yuan (+12.88% yoy) [13]. - Highlights: It is one of the world's most comprehensive special - steel enterprises, with high market shares in core products. It has strong cost - control and is seeking external expansion [14]. 2. Shanlu Convertible Bond - Rating: AAA; 1 - end closing price: 128.472 yuan; conversion premium rate: 54.45%; PE - TTM of the underlying stock: 4.32 [6][8]. - Company: Focused on road and bridge construction and maintenance, and expanding into other fields. It has a complete business system [31]. - Financials: In 2024, revenue was 71.348 billion yuan (-2.3% yoy), net profit attributable to shareholders was 2.322 billion yuan (+1.47% yoy). In the first three quarters of 2025, revenue was 41.354 billion yuan (-3.11% yoy), net profit attributable to shareholders was 1.41 billion yuan (-3.27% yoy) [31]. - Highlights: It has the "China Special Valuation" concept, and its balance sheet and potential orders may improve. It may benefit from infrastructure plans in Shandong and the Belt and Road Initiative [32]. 3. Hebang Convertible Bond - Rating: AA; 1 - end closing price: 153.399 yuan; conversion premium rate: 21.26%; PE - TTM of the underlying stock: -230.95 [6][8]. - Company: With a diversified business layout in chemicals, agriculture, and photovoltaics, it has expanded from a single - product business [44]. - Financials: In 2024, revenue was 8.547 billion yuan (-3.13% yoy), net profit attributable to shareholders was 31 million yuan (-97.55% yoy). In the first three quarters of 2025, revenue was 5.927 billion yuan (-13.02% yoy), net profit attributable to shareholders was 93 million yuan (-57.93% yoy) [44]. - Highlights: Its liquid methionine production has high profitability and is a major profit contributor [47]. 4. Huayuan Convertible Bond - Rating: AA -; 1 - end closing price: 145.282 yuan; conversion premium rate: 9.47%; PE - TTM of the underlying stock: 32.14 [6][8]. - Company: Focused on building a complete vitamin D3 industrial chain, with products in the vitamin and pharmaceutical sectors [58]. - Financials: In 2024, revenue was 1.243 billion yuan (+13.58% yoy), net profit attributable to shareholders was 309 million yuan (+60.76% yoy). In the first three quarters of 2025, revenue was 936 million yuan (-0.2% yoy), net profit attributable to shareholders was 234 million yuan (-3.07% yoy) [58]. - Highlights: It is a leader in certain products, and is expanding its product portfolio and has achievements in pharmaceutical R & D [59]. 5. Xingye Convertible Bond - Rating: AAA; 1 - end closing price: 123.691 yuan; conversion premium rate: 40.16%; PE - TTM of the underlying stock: 5.11 [6][8]. - Company: One of the first joint - stock commercial banks in China, evolving into a modern financial service group [72]. - Financials: In 2024, revenue was 212.226 billion yuan (+0.66% yoy), net profit attributable to shareholders was 77.205 billion yuan (+0.12% yoy). In the first three quarters of 2025, revenue was 161.234 billion yuan (-1.82% yoy), net profit attributable to shareholders was 63.083 billion yuan (+0.12% yoy) [72]. - Highlights: It has stable asset quality and scale growth, with a large customer base [73]. 6. Aima Convertible Bond - Rating: AA; 1 - end closing price: 126.979 yuan; conversion premium rate: 60.87%; PE - TTM of the underlying stock: 10.97 [6][8]. - Company: The leading enterprise in the electric two - wheeler industry, with self - developed and produced products [82]. - Financials: In 2024, revenue was 21.606 billion yuan (+2.71% yoy), net profit attributable to shareholders was 1.988 billion yuan (+5.68% yoy). In the first three quarters of 2025, revenue was 21.093 billion yuan (+20.78% yoy), net profit attributable to shareholders was 1.907 billion yuan (+22.78% yoy) [82]. - Highlights: It may benefit from government subsidies and the implementation of new national standards, and has potential for improving gross margin [83]. 7. Chongyin Convertible Bond - Rating: AAA; 1 - end closing price: 128.332 yuan; conversion premium rate: 16.22%; PE - TTM of the underlying stock: 6.55 [6][8]. - Company: An early - established local joint - stock commercial bank in the upper reaches of the Yangtze River and Southwest China, with a wide range of business operations [92]. - Financials: In 2024, revenue was 13.679 billion yuan (+3.54% yoy), net profit attributable to shareholders was 5.117 billion yuan (+3.8% yoy). In the first three quarters of 2025, revenue was 11.74 billion yuan (+10.4% yoy), net profit attributable to shareholders was 4.879 billion yuan (+10.19% yoy) [92]. - Highlights: It may benefit from the development of the Chengdu - Chongqing economic circle, has stable asset growth, and has a good risk - control strategy [93][96]. 8. Tianye Convertible Bond - Rating: AA+; 1 - end closing price: 141.695 yuan; conversion premium rate: 26.15%; PE - TTM of the underlying stock: 163.89 [6][8]. - Company: A leading enterprise in the chlor - alkali chemical industry in Xinjiang, with an integrated circular economy industrial chain [105]. - Financials: In 2024, revenue was 11.156 billion yuan (-2.7% yoy), net profit attributable to shareholders was 68 million yuan (+108.83% yoy). In the first three quarters of 2025, revenue was 7.97 billion yuan (+2.2% yoy), net profit attributable to shareholders was 7 million yuan (-28.79% yoy) [105]. - Highlights: It benefits from cost - reduction in raw materials and plans to increase dividend frequency, and its group is promoting coal - mine projects [107]. 9. Aorui Convertible Bond - Rating: AA -; 1 - end closing price: 160.557 yuan; conversion premium rate: 39.57%; PE - TTM of the underlying stock: 27.45 [6][8]. - Company: Focused on the R & D, production, and sales of complex APIs and formulations, leading in certain technical fields [120]. - Financials: In 2024, revenue was 1.476 billion yuan (+16.89% yoy), net profit attributable to shareholders was 355 million yuan (+22.59% yoy). In the first three quarters of 2025, revenue was 1.237 billion yuan (+13.67% yoy), net profit attributable to shareholders was 354 million yuan (+24.58% yoy) [120]. - Highlights: It is optimizing its distribution network, expanding the market for its formulation products, and has high - quality customer resources [121]. 10. Yushui Convertible Bond - Rating: AAA; 1 - end closing price: 128.343 yuan; conversion premium rate: 35.36%; PE - TTM of the underlying stock: 26.26 [6][8]. - Company: The largest water supply and drainage integrated enterprise in Chongqing, with a monopoly position in the local market [134]. - Financials: In 2024, revenue was 6.999 billion yuan (-3.52% yoy), net profit attributable to shareholders was 785 million yuan (-27.88% yoy). In the first three quarters of 2025, revenue was 5.568 billion yuan (+7.21% yoy), net profit attributable to shareholders was 779 million yuan (+7.1% yoy) [134]. - Highlights: It has a high market share, is expanding its business scope, and has achieved cost - control through intelligent applications [135]. Related Reports - "Pricing of Naipu Convertible Bond 02: First - day conversion premium rate of 28% - 33%", released on January 27, 2026 [3]. - "Pricing of Shangtai Convertible Bond: First - day conversion premium rate of 40% - 45%", released on January 27, 2026 [3]. - "Pricing of Lianrui Convertible Bond: First - day conversion premium rate of 43% - 48%", released on January 15, 2026 [3]. - "Outlook for US Inflation in 2026: High at first, then low, overall controllable", released on January 12, 2026 [3].

Group 1 - The core point of the news is that Junzheng Group's stock price dropped by 5.08% to 5.61 CNY per share, with a trading volume of 779 million CNY and a turnover rate of 1.61%, resulting in a total market capitalization of 47.337 billion CNY [1] - Junzheng Group, established on February 16, 2003, and listed on February 22, 2011, is located in Wuhai City, Inner Mongolia, and primarily engages in the production and sales of polyvinyl chloride resin and caustic soda, along with chemical logistics services [1] - The revenue composition of Junzheng Group includes 70.60% from chemical raw materials and products, 26.79% from logistics services, 2.07% from other sources, and 0.55% from thermal power [1] Group 2 - According to data from the top ten heavy stocks of funds, one fund under the Fortune Fund has a significant holding in Junzheng Group, specifically the Fortune Tai Xiang Return 6-Month Holding Period Mixed A (012010), which reduced its holdings by 78,700 shares in the fourth quarter, now holding 314,600 shares, accounting for 0.71% of the fund's net value [2] - The estimated floating loss for the fund today is approximately 94,400 CNY [2] - The Fortune Tai Xiang Return 6-Month Holding Period Mixed A (012010) was established on June 17, 2021, with a current scale of 211 million CNY, yielding 2.94% this year, ranking 5977 out of 9000 in its category, and 11.04% over the past year, ranking 6347 out of 8193 [2]

Core Viewpoint - Xinjiang Tianye (600075.SH) has announced a projected net loss of approximately 50 million yuan for the fiscal year 2025, indicating a challenging financial outlook due to market price fluctuations affecting its main product, polyvinyl chloride (PVC) resin [1] Financial Performance - The company expects a net profit attributable to shareholders of the parent company to be around -50 million yuan for 2025 [1] - The projected net profit after deducting non-recurring gains and losses is estimated to be approximately -78 million yuan [1] Operational Insights - Despite the anticipated losses, the company has been focusing on strengthening internal management and leveraging its circular economy industrial chain advantages [1] - The overall production and operational situation remains stable, with efforts directed towards cost reduction and efficiency improvement [1] Market Conditions - The decline in the price of PVC resin has been significant, with the decrease in production costs not matching the drop in sales prices, leading to negative profitability for the company in 2025 [1]

Core Viewpoint - Xinjiang Tianye (600075.SH) has announced a projected net loss of approximately 50 million yuan for the fiscal year 2025, indicating a challenging financial outlook due to market price fluctuations affecting its main product, polyvinyl chloride (PVC) resin [1] Financial Performance - The company expects a net profit attributable to shareholders of the parent company to be around -50 million yuan for 2025 [1] - The projected net profit after deducting non-recurring gains and losses is estimated to be approximately -78 million yuan [1] Operational Insights - Despite the anticipated losses, the company has been focusing on strengthening internal management and leveraging its circular economy industrial chain advantages [1] - The overall production and operational situation remains stable, with efforts directed towards cost reduction and efficiency enhancement [1] Market Conditions - The decline in the price of PVC resin has been a significant factor in the expected losses, as the decrease in production costs has not kept pace with the drop in sales prices [1]

Group 1 - The core point of the article highlights the recent performance of Zhongtai Chemical, which saw a 5.14% increase in stock price, reaching 6.14 CNY per share, with a trading volume of 738 million CNY and a turnover rate of 4.77%, resulting in a total market capitalization of 15.903 billion CNY [1] - Zhongtai Chemical, established on December 18, 2001, and listed on December 8, 2006, is located in Urumqi Economic and Technological Development Zone, Xinjiang. The company specializes in the production and sales of chemical products, including polyvinyl chloride resin and ion-exchange membrane caustic soda [1] - The revenue composition of Zhongtai Chemical includes: polyvinyl chloride (39.69%), chlor-alkali products (14.99%), viscose yarn (14.83%), other coal chemical products (11.21%), viscose fiber (7.17%), other textile products (5.91%), and various other segments [1] Group 2 - From the perspective of major circulating shareholders, Dongzheng Asset Management has a fund that ranks among the top shareholders of Zhongtai Chemical. The fund, Oriental Red New Power Mixed A (000480), entered the top ten circulating shareholders in the third quarter, holding 12.7059 million shares, which is 0.49% of the circulating shares [2] - As of the latest data, the Oriental Red New Power Mixed A fund has a total asset size of 3.655 billion CNY and has achieved a year-to-date return of 5.89%, ranking 3644 out of 8848 in its category. Over the past year, it has returned 36.85%, ranking 3456 out of 8093 [2]

Group 1 - The core point of the news is that Junzheng Group's stock price increased by 5.09% to 5.57 CNY per share, with a trading volume of 9.85 billion CNY and a turnover rate of 2.15%, resulting in a total market capitalization of 47 billion CNY [1] - Junzheng Group, established on February 16, 2003, and listed on February 22, 2011, is located in Wuda Industrial Park, Wuhai City, Inner Mongolia. The company primarily engages in the production and sales of polyvinyl chloride resin, caustic soda, and chemical logistics services [1] - The revenue composition of Junzheng Group includes 70.60% from chemical raw materials and products, 26.79% from logistics comprehensive services, 2.07% from other sources, and 0.55% from thermal power [1] Group 2 - Among the top ten circulating shareholders of Junzheng Group, a fund under Penghua Fund has entered the list, specifically the Penghua CSI Sub-Industry Chemical Theme ETF Link A (014942), which holds 50.68 million shares, accounting for 0.6% of the circulating shares [2] - The Penghua CSI Sub-Industry Chemical Theme ETF Link A (014942) was established on March 8, 2022, with a latest scale of 728.09 million CNY. The fund has achieved a return of 4.19% this year, ranking 3186 out of 5580 in its category, and a return of 48.5% over the past year, ranking 1451 out of 4226 [2] - The fund manager of Penghua CSI Sub-Industry Chemical Theme ETF Link A is Yan Dong, who has a cumulative tenure of 6 years and 309 days, managing total assets of 22.118 billion CNY, with the best fund return during his tenure being 456.3% and the worst being -44% [3]

Group 1 - The core point of the news is that Zhongtai Chemical's stock price increased by 5.32% to 5.74 CNY per share, with a trading volume of 357 million CNY and a turnover rate of 2.49%, resulting in a total market capitalization of 14.867 billion CNY [1] - Zhongtai Chemical, established on December 18, 2001, and listed on December 8, 2006, is located in Urumqi Economic and Technological Development Zone, primarily engaged in the production and sales of chemical products such as polyvinyl chloride resin and ion-exchange membrane caustic soda [1] - The main business revenue composition of Zhongtai Chemical includes: polyvinyl chloride (39.69%), chlor-alkali products (14.99%), viscose yarn (14.83%), other coal chemical products (11.21%), viscose fiber (7.17%), other textile products (5.91%), others (3.40%), modern trade (1.35%), logistics transportation (1.21%), and self-generated electricity (0.24%) [1] Group 2 - From the perspective of major circulating shareholders, Dongzheng Asset Management has a fund that ranks among the top ten circulating shareholders of Zhongtai Chemical, with the Oriental Red New Power Mixed A fund (000480) newly entering the top ten in the third quarter, holding 12.7059 million shares, accounting for 0.49% of circulating shares [2] - The Oriental Red New Power Mixed A fund, established on January 28, 2014, has a latest scale of 3.655 billion CNY, with a year-to-date return of 4.96% and a one-year return of 36.53% [2] - The fund manager of Oriental Red New Power Mixed A is Zhou Yun, who has a cumulative tenure of 10 years and 131 days, with the fund's total asset scale at 17.069 billion CNY and a best return of 293.36% during the tenure [3]

Group 1 - The core viewpoint of the news is that Junzheng Group's stock has shown a positive trend with a year-to-date increase of 12.24% and a recent rise of 4.64% over the last five trading days [1] - As of January 19, Junzheng Group's stock price reached 5.41 yuan per share, with a total market capitalization of 45.65 billion yuan [1] - The company has seen a net outflow of main funds amounting to 5.23 million yuan, with significant buying and selling activity from large orders [1] Group 2 - Junzheng Group operates in the basic chemical industry, specifically in the chlor-alkali sector, and is involved in the production and sales of PVC resin and caustic soda [2] - For the period from January to September 2025, Junzheng Group reported a revenue of 18.69 billion yuan, reflecting a year-on-year growth of 1.63%, and a net profit attributable to shareholders of 2.80 billion yuan, up 24.93% year-on-year [2] - The company has distributed a total of 14.48 billion yuan in dividends since its A-share listing, with 5.49 billion yuan distributed over the last three years [3]