Core Viewpoint - The company YuXing Co., Ltd. (300305) has announced a projected net loss for 2025, attributed to weak industry demand, rising product transformation costs, and declining market prices [2] Group 1: Financial Performance - The company expects a net profit loss of between 220 million to 290 million yuan for the year 2025 [2] - The announcement has triggered a credit rating adjustment, with China Chengxin International downgrading the company's credit rating from AA- to A+ [2] Group 2: Executive Actions - Director Liu Quan plans to reduce his holdings by up to 839,800 shares (0.22% of total share capital) between March 6 and June 3, 2026, due to personal financial needs [3] Group 3: Corporate Governance and Employee Incentives - The company held a board meeting on February 10, 2026, to review a proposal for the initial grant of restricted stock under the 2026 restricted stock incentive plan, indicating a focus on employee motivation and potential team stability [4] Group 4: Industry Environment - The functional polyester film industry continues to face challenges such as weak downstream demand and intensified competition, which may indirectly affect the company's operational recovery in 2026 [5] - As 2026 marks the beginning of the "14th Five-Year Plan," it is important to monitor policy support for the new energy and new materials sectors [5]

| 证券代码：300305 | 证券简称：裕兴股份 | 公告编号：2026-015 | | --- | --- | --- | | 债券代码：123144 | 债券简称：裕兴转债 | | 江苏裕兴薄膜科技股份有限公司 关于持股 5%以上股东减持股份触及 1%整数倍的公告 股东北京人济房地产开发集团有限公司保证向本公司提供的信息内容真实、 准确、完整、没有虚假记载、误导性陈述或重大遗漏。 2 本次变动是否为履行已 作出的承诺、意向、计 划 是☑ 否 裕兴股份于 2025 年 12 月 11 日披露了《关于持股 5%以上股东减持 股份的预披露公告》。北京人济计划于 2026 年 1 月 5 日至 2026 年 4 月 3 日期间以集中竞价交易方式减持公司股份，减持股份数量不 超过 3,750,000 股（占公司当前总股本的 1%）。本次减持与此前已 披露的减持计划一致，减持数量在已披露的减持计划范围内。本次 减持计划尚未实施完毕。 本次变动是否存在违反 《证券法》《上市公司收购 管理办法》等法律、行 政法规、部门规章、规 范性文件和本所业务规 则等规定的情况 是□ 否 如是，请说明违规的具体情况、整改计划和处理措 ...

Group 1 - The company, Yuxing Co., announced that its sixth board meeting was held on February 10, 2026, combining in-person and remote voting methods [1] - The meeting reviewed the proposal regarding the initial grant of restricted stock under the 2026 restricted stock incentive plan for the incentive objects [1]

| 证券代码：300305 | 证券简称：裕兴股份 | 公告编号：2026-014 | | --- | --- | --- | | 债券代码：123144 | 债券简称：裕兴转债 | | 江苏裕兴薄膜科技股份有限公司 关于向 2026 年限制性股票激励计划激励对象首次授予限制 性股票的公告 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。 重要内容提示： 江苏裕兴薄膜科技股份有限公司（以下简称"公司"或"本公司"）《2026 年限 制性股票激励计划（草案）》（以下简称"本激励计划"）规定的授予条件已经成 就，根据公司 2026 年第二次临时股东会的授权，公司于 2026 年 2 月 10 日召开 第六届董事会第十六次会议，审议通过《关于向 2026 年限制性股票激励计划激 励对象首次授予限制性股票的议案》，同意确定 2026 年 2 月 10 日作为首次授予 日，以授予价格 3.09 元/股向符合授予条件的 47 名激励对象共计授予 972.00 万 股第二类限制性股票。现将有关事项公告如下： 一、本激励计划简述及已履行的审批程序 （一）本激励计划简述 1、股权 ...

上海君澜律师事务所 关于 江苏裕兴薄膜科技股份有限公司 2026 年限制性股票激励计划 首次授予相关事项 之 法律意见书 二〇二六年二月 上 海 君 澜 律 师 事 务 所 法律意见书 上海君澜律师事务所 关于江苏裕兴薄膜科技股份有限公司 2026 年限制性股票激励计划 首次授予相关事项之 法律意见书 本法律意见书仅供本次授予之目的使用，不得用作任何其他目的。 本所律师同意将本法律意见书作为裕兴股份本次授予所必备的法律文件， 随其他材料一同向公众披露，并依法对所出具的法律意见书承担责任。 本所律师按照律师行业公认的业务标准、道德规范和勤勉尽责精神，在对 公司提供的有关文件和事实进行了充分核查验证的基础上，出具法律意见如下： 致：江苏裕兴薄膜科技股份有限公司 上海君澜律师事务所（以下简称"本所"）接受江苏裕兴薄膜科技股份有 限公司（以下简称"公司"或"裕兴股份"）的委托，根据《上市公司股权激 励管理办法》（以下简称"《管理办法》"）、《深圳证券交易所创业板股票 上市规则》（以下简称"《上市规则》"）、《深圳证券交易所上市公司自律 监管指南第 1 号——业务办理》（以下简称"《监管指南》"）、《江苏裕兴 薄膜科技 ...

| 证券代码：300305 | 证券简称：裕兴股份 | 公告编号：2026-013 | | --- | --- | --- | | 债券代码：123144 | 债券简称：裕兴转债 | | 江苏裕兴薄膜科技股份有限公司 第六届董事会第十六次会议决议公告 根据《上市公司股权激励管理办法》《深圳证券交易所创业板上市公司自律 监管指南第1号——业务办理》、公司《2026年限制性股票激励计划（草案）》的 相关规定以及公司2026年第二次临时股东会的授权，董事会确认公司2026年限制 性股票激励计划的授予条件已经成就，确定2026年2月10日为首次授予日，以授 予价格3.09元/股向47名激励对象首次授予第二类限制性股票合计972.00万股。 本议案已经董事会薪酬与考核委员会审议通过。 具体内容详见公司在中国证监会指定的创业板信息披露网站发布的公告。 特此公告。 江苏裕兴薄膜科技股份有限公司董事会 2026年2月11日 1 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。 江苏裕兴薄膜科技股份有限公司（以下简称"公司"）于2026年2月4日以电子 邮件或电话方式向全体董事发 ...

江苏裕兴薄膜科技股份有限公司 董事会薪酬与考核委员会 关于2026年限制性股票激励计划首次授予事项的核查意见 江苏裕兴薄膜科技股份有限公司（以下简称"公司"）董事会薪酬与考核委员 会根据《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》）、《深圳证券交易所创业板股票上市规则》（以下简称《创业板上 市规则》）、《深圳证券交易所创业板上市公司自律监管指南第1号——业务办 理》（以下简称《创业板自律监管指南第1号》）等法律法规、规范性文件，以 及《江苏裕兴薄膜科技股份有限公司章程》（以下简称《公司章程》）、公司《20 26年限制性股票激励计划（草案）》（以下简称"本激励计划"）等有关规定，对 公司2026年限制性股票激励计划首次授予相关事项发表如下核查意见： （一）公司具备实施股权激励计划的主体资格。公司不存在《管理办法》等 法律、法规规定的禁止实施股权激励计划的下列情形： （3）上市后最近36个月内出现过未按法律法规、公司章程、公开承诺进行 利润分配的情形； （4）法律法规规定不得实行股权激励的； （5）中国证监会 ...

Summary of Key Points Core Viewpoint - The article highlights the recent stock buyback and reduction activities of various A-share listed companies, indicating potential shifts in investor sentiment and company strategies in the market [1]. Group 1: Stock Buyback Activities - Changhong Huayi: Some directors and senior management plan to increase their shareholding in the company [2]. - Pianzihuang: The controlling shareholder has obtained a special loan commitment for a buyback of up to 450 million yuan [2]. - Gaweida: The board proposes a share repurchase plan amounting to 30 million to 35 million yuan [2]. - Changan Automobile: Plans to repurchase shares worth between 1 billion to 2 billion yuan [2]. Group 2: Stock Reduction Activities - Shengke Communication: Recently, the National Integrated Circuit Industry Investment Fund reduced its stake by 0.6% of the total share capital [2]. - Furi Technology: Shareholders plan to reduce their holdings by up to 2% of the total share capital [2]. - Pulit: Shareholders Zhou Wu and executive Li Hong plan to collectively reduce their holdings by up to 0.57% [2]. - Nankuang Group: The executive vice president plans to reduce his stake by up to 1% [2]. - Qinda Environmental Protection: Shareholder Binglun Environment plans to reduce holdings by up to 3% [2]. - Fuchuang Precision: Shareholder Guotou Chuangyi plans to reduce holdings by up to 3% [2]. - Shuangqiang Technology: Director Zhou Zhaocheng plans to reduce holdings by up to 0.32% [2]. - Debi Group: The controlling shareholder plans to reduce holdings by up to 1.92% [2]. - Jinpu Garden: Shareholders plan to reduce their stakes by 1% each [2]. - Kangsi Te: Shareholders plan to reduce their holdings [2]. - Guangda Jiabao: Shareholders plan to reduce their holdings by up to 1% [2]. - Baogang Jin: Director Yuan Xiaofeng plans to reduce holdings by up to 0.0923% [2]. - ST Lutong: Shareholders plan to reduce their holdings by up to 3.33% [2]. - Zhang Xiaoqin: Shareholder plans to reduce holdings by up to 0.31% [2]. - Yuxing Co.: Shareholder Huang Shiliu plans to reduce holdings by up to 0.22% [2]. - Guai Bao Pet: Shareholders plan to reduce their holdings by up to 1.90% [2]. - Kaipu Biological: Shareholder plans to reduce holdings by up to 3% [2]. - Jiangshan Oupai: Shareholder Wang Zhong plans to reduce holdings by up to 3% [2]. - Fuguang Co.: Shareholder plans to reduce holdings by up to 3% [2].

Core Viewpoint - Yuxing Co., Ltd. announced that its director, Mr. Liu Quan, plans to reduce his shareholding in the company by up to 839,800 shares, representing 0.22% of the total share capital, between March 6, 2026, and June 3, 2026 [2] Summary by Category - Shareholding Details - Mr. Liu Quan currently holds 3,359,400 shares, which accounts for 0.89% of the company's total share capital [2] - The planned reduction of shares is set to occur through centralized bidding [2]

Group 1 - The company Yuxing Co., Ltd. announced that its director, Mr. Liu Quan, plans to reduce his shareholding by up to approximately 840,000 shares, which represents 0.22% of the company's current total share capital, through centralized bidding from March 6, 2026, to June 3, 2026 [1] Group 2 - The article discusses Kevin Warsh's proposed new policies, which aim to manage inflation using AI while rejecting the role of being a major buyer of U.S. Treasury bonds [1]