| | | 青岛森麒麟轮胎股份有限公司 关于调整 2022 年股票期权激励计划行权价格的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 青岛森麒麟轮胎股份有限公司（以下简称"公司"）于 2026 年 1 月 9 日召开了第 四届董事会第九次会议，审议通过了《关于调整 2022 年股票期权激励计划行权价格的 议案》。根据《上市公司股权激励管理办法》及公司《2022 年股票期权激励计划（草 案）》的相关条款，因 2025 年半年度权益分派事项，公司 2022 年股票期权激励计划 （以下简称"本次激励计划"）行权价格由 16.47 元/份调整为 16.17 元/份。 现将相关事项公告如下： 一、本次激励计划已履行的相关审批程序 （一）2022 年 3 月 16 日，公司召开第三届董事会第四次会议，审议通过了《关于 公司<2022 年股票期权激励计划（草案）>及其摘要的议案》《关于公司<2022 年股票 期权激励计划实施考核管理办法>的议案》以及《关于提请股东大会授权董事会办理股 票期权激励计划相关事宜的议案》。关联董事已根据《公司法》等法律、法规和规范 性文件 ...

德恒上海律师事务所 调整 2022 年股票期权激励计划行权价格的 法律意见 关于青岛森麒麟轮胎股份有限公司 调整 2022 年股票期权激励计划行权价格的 法律意见 上海市虹口区东大名路 501 号白玉兰广场 23 层 电话:021-55989888 传真:021-55989898 邮编:200080 德恒上海律师事务所 关于青岛森麒麟轮胎股份有限公司 调整 2022 年股票期权激励计划行权价格的法律意见 德恒上海律师事务所 关于青岛森麒麟轮胎股份有限公司 德恒 02F20220156-00006 号 致：青岛森麒麟轮胎股份有限公司 德恒上海律师事务所（以下简称"本所"）接受青岛森麒麟轮胎股份有限公 司（以下简称"森麒麟"或"公司"）的委托，担任森麒麟 2022 年股票期权激励 计划（以下简称"本激励计划"）的专项法律顾问。根据《中华人民共和国公司 法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、 《上市公司股权激励管理办法》（以下简称"《管理办法》"）等相关法律法规、规 章、其他规范性文件和《青岛森麒麟轮胎股份有限公司章程》（以下简称"《公司 章程》"）、《青岛森麒麟轮胎股 ...

青岛森麒麟轮胎股份有限公司 委托理财管理制度 （2026 年 1 月修订） 第一章 总则 第一条 为加强与规范青岛森麒麟轮胎股份有限公司(以下简称"公司") 委托理财业务的管理，保证公司资金、财产安全，有效防范投资风险，维护公司 及股东利益，根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中 华人民共和国证券法》（以下简称"《证券法》"）、《深圳证券交易所股票上 市规则》（以下简称"《股票上市规则》"）、《深圳证券交易所上市公司自律 监管指引第 1 号——主板上市公司规范运作》（以下简称"《规范运作指引》"） 《深圳证券交易所上市公司自律监管指引第 7 号——交易与关联交易》等相关法 律、法规、规章、规范性文件和《青岛森麒麟轮胎股份有限公司章程》（以下简 称"《公司章程》"）的规定，并结合公司的实际经营情况，制定本制度。 第二条 本制度所称委托理财是指公司委托银行、信托、证券、基金、期货、 保险资产管理机构、金融资产投资公司、私募基金管理人等专业理财机构对其财 产进行投资和管理或者购买相关理财产品的行为。 青岛森麒麟轮胎股份有限公司 第八条 必须以公司名义设立理财产品账户，不得使用其他公司或个人账户 ...

青岛森麒麟轮胎股份有限公司 2025 年度日常关联交易实际发生金额与预计金额存在差异，主要系公司预 计的日常关联交易额度是根据自身及子公司经营需求就可能发生交易的金额测 算，实际发生金额按照双方的具体执行进度确定，具有不确定性，上述差异属于 正常的经营行为，具有合理性。公司日常关联交易严格遵循"公开、公平、公正" 的市场交易原则，不存在损害公司和股东利益，尤其是中小股东利益的情形，不 会对公司财务状况、经营成果产生重大影响。公司对 2026 年度日常关联交易进 行的额度预计，基于公司业务发展及生产经营需要，且交易定价遵循客观、公平、 公允的原则，不存在损害公司和全体股东特别是中小股东利益的情形，也不存在 因关联交易而在业务上对关联方形成依赖的情形。综上，我们同意公司 2026 年 度日常关联交易预计事项，并同意提交董事会审议，公司董事会在审议上述关联 交易时，关联董事应回避表决。 独立董事：李鑫、丁乃秀、谢东明 2026 年 1 月 9 日 第四届董事会第二次独立董事专门会议审查意见 根据《上市公司独立董事管理办法》《深圳证券交易所上市公司自律监管指 引第 1 号——主板上市公司规范运作》《青岛森麒麟轮胎股份 ...

Summary of Tire Industry Conference Call Industry Overview - The tire industry is experiencing significant growth opportunities, particularly for domestic brands in the global market. Current market share for domestic brands in major markets like Europe and North America is around 15%, with substantial room for growth as they aim to replace foreign brands in the lower-tier segments [1][3][11]. Key Insights - **Market Share Growth**: Domestic tire brands are expected to increase their market share significantly by 2026, particularly in high-end segments, where they aim to capture over 50% of the market [2][3]. - **Global Expansion**: Leading domestic tire companies are accelerating their global expansion strategies, establishing production capacities in regions outside Southeast Asia to mitigate trade risks and enhance performance certainty [1][6][20]. - **Profitability**: Domestic tire companies exhibit strong profitability, with net profit margins around 10% and ROE exceeding 20%. Non-road tire products have gross margins as high as 40%-50% [1][23]. Market Dynamics - **Trade Policies**: Changes in trade policies in Europe and the U.S. are creating both challenges and opportunities for domestic tire manufacturers. The ability to adapt to these changes is crucial for maintaining competitiveness [6][17]. - **Cost Pressures**: Global automotive manufacturers are under significant cost-cutting pressures, which may benefit domestic tire companies due to their competitive pricing and cost structure [15][18]. Future Projections - **Valuation Potential**: The tire sector is currently valued at approximately 10 times earnings, with potential to rise to 15-20 times as growth prospects improve and trade disruptions lessen [24][25]. - **High-End Market Penetration**: By 2027, domestic brands are projected to achieve over 60% market share in the domestic semi-steel tire segment, driven by advancements in high-end model supply [21]. Company-Specific Insights - **ZC Rubber**: Anticipated to significantly increase production capacity by 2026, with a focus on high-end model supply [26]. - **Sailun**: Maintains a strong overseas presence, with plans to expand production in Indonesia and Mexico, while enhancing its high-end model offerings [27]. - **Sime Darby**: Focused on semi-steel tire production, with plans to enhance profitability through new capacity in Morocco [28]. - **Linglong Tire**: Aims to shift focus from low-end to high-end models to improve profitability [29]. - **Princeton**: Currently undervalued but expected to see valuation improvements with new production coming online in Malaysia [30]. Conclusion - The tire industry is poised for significant growth, driven by domestic brands' increasing market share, global expansion strategies, and strong profitability metrics. The evolving trade landscape and cost pressures on global manufacturers present both challenges and opportunities for domestic players. The overall outlook for the industry remains positive, with substantial potential for valuation increases in the coming years.

Core Viewpoint - The stock of Senqilin has experienced fluctuations, with a recent decline of 2.05% and a total market capitalization of 22.22 billion yuan, indicating a mixed performance in the market [1]. Group 1: Stock Performance - As of January 8, Senqilin's stock price was 21.45 yuan per share, with a trading volume of 199 million yuan and a turnover rate of 1.29% [1]. - Year-to-date, the stock has increased by 1.32%, with a 0.61% rise over the last five trading days, a 1.29% decline over the last 20 days, and a 14.64% increase over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Senqilin reported a revenue of 6.438 billion yuan, reflecting a year-on-year growth of 1.54%, while the net profit attributable to shareholders decreased by 41.17% to 1.015 billion yuan [2]. - Cumulatively, since its A-share listing, Senqilin has distributed a total of 1.347 billion yuan in dividends, with 1.129 billion yuan distributed over the past three years [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Senqilin was 64,300, a decrease of 6.29% from the previous period, with an average of 11,102 circulating shares per person, which increased by 6.78% [2]. - Among the top ten circulating shareholders, China Europe Times Pioneer Stock A holds 13 million shares, an increase of 3 million shares compared to the previous period, while Southern CSI 500 ETF holds 9.0306 million shares, a decrease of 187,600 shares [3].

Core Viewpoint - The announcement details the conversion of the company's convertible bonds and the adjustments to the conversion price over time, reflecting changes in the company's capital structure and stock performance. Group 1: Convertible Bond Issuance and Listing - The company issued 21,989,391 convertible bonds with a total value of 219,893.91 million RMB, each with a face value of 100 RMB, approved by the China Securities Regulatory Commission on November 11, 2021 [1] - The bonds were listed on the Shenzhen Stock Exchange starting December 6, 2021, under the name "麒麟转债" and the code "127050" [2] Group 2: Conversion Price Adjustments - The initial conversion price was set at 34.85 RMB per share, based on the average stock price prior to the bond issuance [3] - Following a cash dividend distribution of 1.7 RMB per 10 shares in April 2022, the conversion price was adjusted to 34.68 RMB per share [5] - In November 2022, the conversion price was further reduced to 28.52 RMB per share due to stock price performance, which triggered a downward adjustment clause [5] - The conversion price was adjusted to 28.67 RMB per share on August 30, 2023, following a new stock issuance [6] - Subsequent adjustments were made, with the conversion price set at 28.66 RMB per share in January 2024, 20.20 RMB per share in April 2024, and further adjustments leading to 19.95 RMB per share in October 2024 [7][8][9][10][11] Group 3: Conversion and Share Changes - In the fourth quarter of 2025, the company saw a reduction of 38,700 RMB (387 bonds) due to conversions, resulting in 1,998 shares converted [14] - As of December 31, 2025, the remaining balance of convertible bonds was 2,086,029,000 RMB (20,860,290 bonds) [14] - The company also reported an increase in shares due to stock option exercises, adding 17,623 shares under lock-up and 79,830 freely tradable shares [15]

Group 1 - The core viewpoint of the article is that Senqilin's Morocco factory is expected to become a significant driver for the company's growth by 2026, supporting its focus on core business and global expansion strategy [2] Group 2 - The company has confirmed that there are no substantial issues with the electricity supply at its Morocco factory [2] - The Morocco factory is aligned with Senqilin's ongoing "833plus" strategic plan, which aims for steady global growth [2]

Group 1 - The core viewpoint of the article indicates that Senqilin (002984) expects an improvement in production and sales in Q4 2025, with the Moroccan factory projected to reach full production capacity by 2026 [1]

| 证券代码：002984 | 证券简称：森麒麟 | 公告编号：2026-001 | | --- | --- | --- | | 债券代码：127050 | 债券简称：麒麟转债 | | 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： | 证券代码：002984 | | | 证券简称：森麒麟 | | --- | --- | --- | --- | | 债券代码：127050 | | | 债券简称：麒麟转债 | | 转股价格：人民币 | 19.36 | | 元/股 | | 转股期限：2022 | | | 10 | | | | | 年 | | | | | 日 | | | 月 | | | | | | | 11 月 | | | | 5 | | | 年 | | | | | | | | 日至 2027 | | | | 17 | | 青岛森麒麟轮胎股份有限公司 关于2025年第四季度可转换公司债券转股情况的公告 根据《深圳证券交易所股票上市规则》《深圳证券交易所上市公司自律监管 指引第 15 号——可转换公司债券》的有关规定，青岛森麒麟轮胎股份有限公司 （以下简称 ...