浙江锦华新材料股份有限公司 关于完成工商变更登记及公司章程备案并取得营业执照的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别 及连带法律责任。 一、基本情况 浙江锦华新材料股份有限公司（以下简称"公司"）于2025年12月19日召开第 六届董事会第十四次会议，于2026年1月8日召开2026年第一次临时股东会，审议通 过了《关于变更注册资本和修订<公司章程>的议案》。具体内容详见公司于2025年 12月22日在北京证券交易所指定信息披露平台（www.bse.cn）披露的《关于变更注册 资本和修订<公司章程>公告》（公告编号：2025-145）。 证券代码：920015 证券简称：锦华新材 公告编号：2026-008 类型：其他股份有限公司（上市） 法定代表人：雷俊 经营范围：许可项目：危险化学品生产（依法须经批准的项目，经相关部门批 准后方可开展经营活动，具体经营项目以审批结果为准）。一般项目：合成材料制 造（不含危险化学品）；合成材料销售；技术服务、技术开发、技术咨询、技术交 流、技术转让、技术推广；化工产品销售 ...

证券代码：920015 证券简称：锦华新材 公告编号：2026-006 徐凯燕女士，因个人原因辞任，自 2026 年 2 月 4 日起不再担任证券事务代表。该人 员持有公司股份 0 股，占公司股本的 0%，不是失信联合惩戒对象，离任后不再担任公 司及其控股子公司其它职务，不存在未履行完毕的公开承诺。 三、合规性说明及影响 （一）人员变动的合规性说明 浙江锦华新材料股份有限公司证券事务代表变动公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误 导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带法律 责任。 一、证券事务代表任命的基本情况 鉴于浙江锦华新材料股份有限公司（以下简称"公司"）原证券事务代表徐凯燕 女士于近日向公司提交了辞职申请，申请辞去公司证券事务代表职务。公司于 2026 年 2 月 4 日召开了第六届董事会第十五次会议，审议通过了《关于变更聘任公司证券 事务代表的议案》。 聘任陈煊豪先生为公司证券事务代表，任职期限至第六届董事会任期届满之日止， 自 2026 年 2 月 4 日起生效。该人员持有公司股份 0 股，占公司股本的 0%，不是失信联 合惩戒 ...

证券代码：920015 证券简称：锦华新材 公告编号：2026-005 浙江锦华新材料股份有限公司 关于调整第六届董事会专门委员会委员的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个 别及连带法律责任。 浙江锦华新材料股份有限公司（以下简称"公司"）于2026年2月4日召开第六届董 事会第十五次会议，审议通过了《关于调整公司第六届董事会专门委员会委员的 议案》，现将有关情况公告如下： 一、 董事会专门委员会委员调整情况 鉴于公司原董事魏志强先生因到龄退休，经公司第六届董事会第十四次会议、 2026年第一次临时股东会审议通过周立昶先生为公司新任董事，为保障公司董事会 专门委员会各项工作的顺利开展，现对公司董事会审计委员会、提名委员会以及薪酬 与考核委员会进行调整。调整后，公司第六届董事会专门委员会组成情况如下： | 专门委员会名称 | 调整前专门委员会委员 | 调整后专门委员会委员 | | --- | --- | --- | | 审计委员会 | 全泽（主任委员）、 | 全泽（主任委员）、 | | | 黄荣华、魏志强 | ...

证券代码：920015 证券简称：锦华新材 公告编号：2026-007 浙江锦华新材料股份有限公司 第六届董事会第十五次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个 别及连带法律责任。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2026 年 2 月 4 日 2.会议召开地点：公司会议室 3.会议召开方式：现场结合通讯 4.发出董事会会议通知的时间和方式：2026 年 1 月 26 日以书面方式发出 5.会议主持人：雷俊 6.会议列席人员：公司高级管理人员 7.召开情况合法合规的说明： 会议的召集、召开程序符合《中华人民共和国公司法》（以下简称"《公司 法》"）、《浙江锦华新材料股份有限公司章程》（以下简称"《公司章程》"） 及有关法律、法规和规范性文件的规定。 （二）会议出席情况 会议应出席董事 6 人，出席和授权出席董事 6 人。 构的要求，结合公司实际情况，公司拟选举董事雷俊先生执行公司事务，并担 任法定代表人，任期自本次董事会审议通过之日起，至第六届董事会任期届满 之日止。 2.议 ...

Investment Rating - The report assigns a "Buy" rating for the company, marking the first coverage of the stock [1]. Core Insights - The company, Zhejiang Jinhua New Materials Co., Ltd., is a leading supplier of ketoxime products and has established a strong position in the fine chemical industry, particularly in silane crosslinking agents and hydroxylamine salts [9][14]. - The hydroxylamine salt market is expanding, driven by increased demand in downstream industries such as agriculture, pharmaceuticals, and electronics, which opens up long-term growth opportunities for the company [9][40]. - The company has a robust technical innovation capability and a rich customer base, including partnerships with major international and domestic chemical companies [9][57]. Summary by Sections 1. Company Overview - Zhejiang Jinhua New Materials specializes in the R&D, production, and sales of ketoxime series fine chemicals, including silane crosslinking agents and hydroxylamine salts [9][14]. - The company has received numerous accolades, including being recognized as a national "little giant" enterprise and a high-tech enterprise [14]. 2. Market Dynamics - The fine chemical industry is a strategic focus in China's chemical sector, with hydroxylamine salts being a key raw material for various applications, including low-toxicity pesticides and high-efficiency metal extractants [40][39]. - The global hydroxylamine salt market is projected to grow from 2.714 billion yuan in 2023 to 3.179 billion yuan by 2028, with a CAGR of 3.21% [40][41]. 3. Technical Innovation and Customer Base - The company has established a green circular industrial chain for ketoxime products, showcasing its commitment to sustainable practices and innovation [16][57]. - Jinhua New Materials has built a strong customer network, including partnerships with Bayer and domestic leaders like Wanhua Chemical, ensuring a stable demand for its products [60][57]. 4. Financial Projections - The company is expected to achieve revenues of 1.064 billion yuan in 2025, with a projected net profit of 198.77 million yuan, reflecting a growth trajectory despite a slight decline in 2025 [1][21]. - The earnings per share (EPS) are forecasted to be 1.47 yuan in 2025, with a P/E ratio of 34.00, indicating a favorable valuation compared to peers [1][21].

Investment Rating - The report assigns a "Buy" rating for the company, marking the first coverage of the stock [1]. Core Insights - The company, Zhejiang Jinhua New Material Co., Ltd., is a leading supplier of ketoxime products, focusing on the research, production, and sales of fine chemical products, particularly silane crosslinkers and hydroxylamine salts [9][14]. - The hydroxylamine salt market is expanding, driven by increased demand in downstream industries such as agriculture, pharmaceuticals, and environmental applications [40][44]. - The company has established a green circular industrial chain, showcasing its commitment to sustainable practices and innovation in production processes [16][57]. Summary by Sections 1. Company Overview - Zhejiang Jinhua New Material Co., Ltd. specializes in ketoxime series fine chemicals and has received numerous accolades, including being recognized as a national "little giant" enterprise [14]. - The company has developed a unique green circular industrial chain for ketoxime products, enhancing its competitive edge [16]. 2. Market Dynamics - The fine chemical industry is a strategic focus in China's chemical sector, with hydroxylamine salts experiencing stable market growth due to their applications in various high-demand sectors [39][40]. - The global hydroxylamine salt market is projected to grow from 2.714 billion yuan in 2023 to 3.179 billion yuan by 2028, with a CAGR of 3.21% [40][41]. 3. Financial Performance - The company forecasts revenues of 1.064 billion yuan in 2025, with a projected net profit of 198.77 million yuan, reflecting a slight decline from the previous year [1]. - The earnings per share (EPS) is expected to be 1.47 yuan in 2025, with a P/E ratio of 34.00 [1]. 4. Competitive Position - The company has established itself as a market leader in silane crosslinkers and hydroxylamine salts, with significant market shares of 38.16% and 42.37% respectively by 2024 [57][58]. - It has built a robust customer base, including major international and domestic companies, ensuring stable demand for its products [60]. 5. Technological Innovation - The company has developed high-purity electronic-grade hydroxylamine water solution, breaking the monopoly of foreign firms and filling a gap in the domestic market [61]. - It has a strong focus on R&D, with several patents granted for its innovative production processes, ensuring product quality and environmental sustainability [63].

Group 1 - In the past month (from December 27, 2025, to January 26, 2026), a total of 18 companies listed on the Beijing Stock Exchange (BSE) received institutional research, with Xingchen Technology being the most notable, attracting 31 participating institutions [1] - Among the 18 companies, 16 were researched by brokerages, 11 by funds, 5 by private equity, and 4 by insurance companies [1] - The companies that received the most attention from institutions include Tietuo Machinery, Wuxin Tunnel Equipment, and Jikang Technology, with 27, 23, and 16 participating institutions respectively [1] Group 2 - The average market capitalization of all companies on the BSE as of January 26 was 3.327 billion yuan, while the average market capitalization of the companies that received research was 4.205 billion yuan [2] - The companies with the highest market capitalization among those researched include Kaifa Technology, Fujida, and Jinhua New Materials [2] - The average stock price increase for the researched companies over the past month was 5.46%, with notable gainers including Tianrun Technology, Tairis, and Fujida, which saw increases of 24.61%, 18.46%, and 13.52% respectively [1][2]

Investment Rating - The report assigns an "Accumulate" rating for the company, marking its first coverage [3]. Core Insights - The company is a leading player in the domestic silane crosslinking agent and hydroxylamine salt sectors, with a unique "oxime-silane-hydroxylamine salt" green circular industry chain that showcases industry-leading technology [3][12]. - The company is expected to benefit from the growing demand in the new energy vehicle and electronics sectors, with projected net profits of 201 million, 269 million, and 350 million yuan for 2025, 2026, and 2027 respectively, corresponding to EPS of 1.48, 1.98, and 2.58 yuan per share [3][4]. - The company has successfully developed electronic-grade hydroxylamine water solution, breaking the monopoly of foreign manufacturers and supporting the localization of semiconductor cleaning agents [5][12]. Financial Summary - The company’s revenue is projected to reach 1.239 billion yuan in 2024, with a net profit of 211 million yuan, reflecting a year-on-year growth of 11.2% and 22.3% respectively [4][39]. - The gross profit margin is expected to improve from 27.7% in 2023 to 32.5% in 2027, while the net profit margin is projected to increase from 15.5% to 21.7% over the same period [4]. - The company’s earnings per share (EPS) are forecasted to be 1.48 yuan in 2025, 1.98 yuan in 2026, and 2.58 yuan in 2027, with corresponding price-to-earnings (P/E) ratios of 38.6, 28.9, and 22.2 [3][4]. Industry Outlook - The fine chemical industry is experiencing rapid growth, with China's fine chemical industry output expected to exceed 11 trillion yuan by 2027, reflecting a compound annual growth rate of over 19.17% from 2024 to 2027 [55]. - The demand for silane crosslinking agents is anticipated to expand significantly, driven by applications in construction materials, energy, electronics, and new energy vehicles [61][66]. - The production of functional silanes in China is projected to grow from 46.90 million tons in 2024 to 59.88 million tons by 2028, indicating a compound annual growth rate of 6.30% [65][68].

Group 1 - The core point of the article highlights a significant block trade involving JinHua New Materials (920015) on January 20, with a transaction volume of 200,000 shares and a transaction value of 11.124 million yuan, executed at a price of 55.62 yuan, which represents a discount of 3.50% compared to the closing price of the day [2] - Over the past month, JinHua New Materials has recorded a total of three block trades, accumulating a total transaction value of 37.612 million yuan [2] - On the same day, the closing price of JinHua New Materials was 57.64 yuan, reflecting an increase of 0.84%, with a turnover rate of 10.42% and a total transaction amount of 226 million yuan [2] Group 2 - The buyer of the block trade was Huabao Securities Co., Ltd., specifically the Xiamen Luling Road Securities Business Department, while the seller was Huafu Securities Co., Ltd., from the Changle Wuhang Road Securities Business Department [2] - The stock has seen a cumulative increase of 7.02% over the past five days [2]

Group 1 - The core point of the article is that JinHua New Materials (920015) executed a block trade on January 19, with a transaction volume of 200,000 shares and a transaction amount of 11.032 million yuan, at a price of 55.16 yuan, which is a 3.50% discount compared to the closing price of the day [1] - The buyer of the block trade was Huabao Securities Co., Ltd. Xiamen Luling Road Securities Business Department, while the seller was Huafu Securities Co., Ltd. Changle Wuhang Road Securities Business Department [1] - In the past month, JinHua New Materials has recorded a total of 2 block trades, with a cumulative transaction amount of 26.488 million yuan [1] Group 2 - On January 19, the closing price of JinHua New Materials was 57.16 yuan, reflecting an increase of 0.49%, with a turnover rate of 14.88% and a total transaction amount of 335 million yuan [1] - Over the past five days, the stock has seen a cumulative increase of 0.99% [1]