Core Viewpoint - Shanshan Co., Ltd. is undergoing a significant restructuring process, with Anhui Wanwei Group and Ningbo Financial Asset Management Co., Ltd. confirmed as the main investors for the restructuring of its controlling shareholder, Shanshan Group [1][2] Group 1: Restructuring Details - The restructuring aims to change the controlling shareholder of Shanshan Co., Ltd. to Anhui Wanwei Group, with the actual controller becoming the Anhui Provincial State-owned Assets Supervision and Administration Commission [1] - A consortium consisting of Anhui Wanwei Group, Anhui Conch Group, and Ningbo Financial Asset Management was selected for the restructuring, with Anhui Conch Group not directly acting as an investor but planning a strategic reorganization to become the controlling shareholder of Wanwei Group [1] - Following the restructuring, Anhui Conch Group will hold 60% of Wanwei Group, while Anhui Investment Group and Anhui State Capital Operation Holding Group will each hold 20% [1] Group 2: Share Acquisition and Voting Rights - To gain control over Shanshan Co., Ltd., Wanwei Group plans to acquire 21.88% of the voting rights through a two-step arrangement, starting with a purchase of 13.5% of Shanshan's shares for approximately 4.987 billion yuan [2] - The remaining 8.38% of shares will be retained by the restructured Shanshan Group and its subsidiary, ensuring that both parties act in concert regarding shareholder rights [2] - A bankruptcy service trust has been introduced as a debt repayment platform, with Ningbo Financial Asset Management acting as the first disposal institution for the trust [2]

Core Viewpoint - Shanshan Co., Ltd. is undergoing a significant restructuring process, with Anhui Wanwei Group and Ningbo Financial Asset Management Co., Ltd. confirmed as the main investors for the restructuring of its controlling shareholder, Shanshan Group [1][2] Group 1: Restructuring Details - The restructuring aims to change the controlling shareholder of Shanshan Co., Ltd. to Wanwei Group, with the actual controller becoming the Anhui Provincial State-owned Assets Supervision and Administration Commission [1] - A consortium consisting of Wanwei Group, Anhui Conch Group, and Ningbo Financial Asset Management was selected for the restructuring, with Conch Group planning to increase its investment by nearly 5 billion yuan to acquire a 60% stake in Wanwei Group [1] - After the restructuring, Conch Group will become the controlling shareholder of Wanwei Group, while the ultimate actual controller will still be the Anhui Provincial State-owned Assets Supervision and Administration Commission [1] Group 2: Share Acquisition and Voting Rights - Wanwei Group plans to acquire a total of 21.88% of the voting rights in Shanshan Co., Ltd. through a two-step arrangement, starting with a purchase of 13.5% of Shanshan's shares for approximately 4.987 billion yuan [2] - The remaining 8.38% of shares will continue to be held by the restructured Shanshan Group and its subsidiary, with an agreement to ensure consistent action in exercising shareholder rights [2] - The restructuring agreement includes a bankruptcy service trust as a debt repayment platform, with Ningbo Financial Asset Management acting as the first disposal institution for the trust [2]

面对行业长期存在的工业化技术瓶颈，甘肃佳禾天成科技有限公司依托孵化基地资源支持，通过持续技 术攻关与工艺优化，实现从实验室到万吨级产线的跨越，成为全球少数掌握该品类规模化生产能力的企 业之一。该项目聚焦矿源硝基腐植酸的规模化、清洁化生产。产品具备改良土壤、提升肥料利用率等功 能，可有效应对西北地区盐碱地治理、耕地质量提升等农业需求，有助于推动肥料减量增效，促进农业 可持续发展。 (曹轩宁) 中化新网讯 近日，甘肃佳禾天成科技有限公司投资建设的年产万吨级矿源硝基腐植酸项目在兰州新区 专精特新孵化基地C区建成投产。该项目不仅填补了国内矿源硝基腐植酸大规模工业化生产的技术空 白，也标志着兰州新区在打造专业化、精细化、特色化化工产业集群方面取得新突破。 ...

Core Viewpoint - The strategic cooperation agreement signed between Dingjide and Jinfat Technology marks a new phase in their collaboration within the high-end new materials sector of polyolefins [1] Group 1: Strategic Partnership - Dingjide and Jinfat Technology have established a long-term and stable strategic partnership [1] - The agreement focuses on comprehensive strategic cooperation in the production and supply models of polyolefin elastomers, catalysts, and additives [1] - Both companies aim to deepen collaboration in resource sharing, product support, market expansion, and industrial synergy [1]

Group 1 - The fluorochemical industry is experiencing a positive outlook due to the rising demand from the new energy market, leading to increased net profits for several companies in 2025 [1] - Companies like Huasheng Lithium and Ruitai New Materials are expected to see significant profit increases, with Huasheng Lithium projecting a net profit of 12 million to 18 million yuan, a year-on-year increase of 106.87% to 110.30%, and Ruitai New Materials forecasting a net profit of 185 million to 240 million yuan, a growth of 118.67% to 183.68% [1] - Some companies, such as Yongtai Technology, are expected to narrow their losses significantly, with projected revenues of 5 billion to 5.5 billion yuan and a net loss reduction of 91.44% to 95.72% [1] Group 2 - Lithium hexafluorophosphate products are expected to perform poorly in 2025, leading to losses for some companies, with Shenzhen New Star projecting a net loss of 46 million to 69 million yuan, a reduction of 222 million to 245 million yuan compared to the previous year [2] - The company attributes its losses to weak market demand and intensified competition, with prices remaining low despite a price increase starting in October 2025 [2] - The overall fluorochemical industry is facing a demand decline, with upstream raw material markets showing weak supply and demand dynamics, leading to a price stalemate [2]

今年以来，中韩石化以效益为核心，落实源头管控与精益管理，优化生产、排产，同时分解年度指标， 深挖降本潜力，提升成本竞争优势。中韩石化在运营方面聚焦原料资源、生产运行、产品结构三大关键 环节，推动系统性增效;在原料采购上，跟踪原油品种边际效益，增加胜利油及高性价比进口原油比例; 在化工原料上，努力提升轻烃、化工轻油自产量，并拓展系统内原料来源;在生产运行上，全力做大有 效益的产品加工量，炼油板块坚持"稳汽压柴增航做特"策略，航煤产品实现产销两旺。 (刘荣艳 吴卫 兵) 中化新网讯 1月，中韩石化炼油与化工两大板块自2023年以来首次同时实现盈利。 ...

Core Viewpoint - The company has shown stable and positive production and operational performance since January, with major products exceeding sales plans significantly [1] Group 1: Production Performance - The company achieved 101.5% of its fertilizer production plan, 115.2% for ammonium nitrate, and 108.3% for aniline [1] - The overall production and sales activities have been effectively coordinated, leading to a robust operational cycle [1] Group 2: Operational Strategy - The company strictly implements a "ten safety long-term mechanism" to ensure safety and stability in operations [1] - A scientific approach to balancing production, supply, and sales has been adopted, enhancing performance through integrated assessments [1] - The company encourages all employees to take initiative and lead in their roles, contributing to the overall stability and efficiency of operations [1]

三是完善体系机制，优化产业发展政策环境。建立覆盖替代燃料的全链条标准体系，重点制定生活垃 圾、可燃固废衍生燃料的热值标准、污染物控制标准及工业应用适配标准。出台财政激励政策，对利用 生活垃圾、可燃固废生产替代燃料的企业给予税收减免;落实金融支持政策，降低企业融资成本。 中化新网讯 替代燃料在工业窑炉、锅炉供热、能源生产等领域应用前景广阔，宁夏发展替代燃料产业 已初见成效，但仍面临废弃物分类收集体系不健全、工业应用适配性不强等问题。 四是深化产业协同，拓展多元工业应用场景。坚持"资源循环、产业联动"原则，推动替代燃料产业补 链、延链、强链。在化工领域，支持宁东基地建设"绿电—绿氢—固废衍生燃料"一体化示范项目，推动 煤化工企业用绿氢和衍生燃料替代化石能源。 为此，宁夏回族自治区政协委员、天纵泓光热科(宁夏)研发股份有限公司董事长穆祥在宁夏两会期间提 出四点建议。 一是强化顶层设计，明确废弃物工业化应用路径。制定"宁夏替代燃料产业发展专项规划"，将生活垃 圾、可燃固废替代燃煤用于工业化生产。可重点在宁东能源化工基地等产业集聚区，推广"固废—衍生 燃料—工业窑炉替代"模式。 二是突破核心技术，提升废弃物转化与适配效 ...

Core Viewpoint - Karamay Petrochemical Company (referred to as KPC) reported a year-on-year increase of 40,000 tons in crude oil processing for January, achieving the highest monthly processing volume for the same period in history [1] Group 1: Production Performance - KPC's main products, including lubricants, base oils, and white oils, exceeded production and sales plans [1] - Specialty product output increased by 8.64% year-on-year, while petroleum coke production rose by 17.8% year-on-year [1] Group 2: Operational Strategies - The company has optimized production by advancing "molecular refining," expanding crude oil resources, and optimizing the structure of incoming materials [1] - KPC strictly implements 24-hour control of production issues and three disciplinary management measures to ensure stable and optimal operation of its facilities [1] Group 3: Risk Management - The company has strengthened responsibility and system control, regularly conducting risk identification, early warning, management, and hidden danger investigation and remediation [1] - These measures provide a solid guarantee for a successful start to production and operations in the new year [1]

Core Insights - The company has successfully developed a 25 cubic meters per hour liquid hydrogen transfer pump, which has passed a continuous 4-hour operational test under extreme low temperature conditions of -253℃, outperforming design specifications and becoming the first domestic pump validated through actual liquid hydrogen testing [1][2] Group 1: Technical Achievements - The pump achieved operational indicators of "flow rate ≥ 25 cubic meters/hour and head ≥ 110 meters," marking it as the largest flow liquid hydrogen transfer equipment verified in China [2] - The research team focused on three main areas: material compatibility with hydrogen, structural design and thermal management, and energy efficiency improvements [1] Group 2: Industry Impact - The successful trial of the liquid hydrogen transfer pump fills a market gap for large flow liquid hydrogen transfer pumps in China, which is expected to lower hydrogen supply chain costs and enhance transportation and storage efficiency [2] - The development supports the large-scale infrastructure construction of hydrogen energy, promoting advancements in liquid hydrogen transfer, transportation, and high-density storage, thereby laying a technical foundation for the commercialization of the hydrogen energy industry [2]