Core Viewpoint - The relocation of China Huaneng Group and China Sinochem Holdings to Xiong'an New Area marks a significant step in the central enterprises' integration into national strategies and the development of the Xiong'an area, facilitating the optimization of industrial structures and enhancing urban vitality [1][2]. Group 1 - China Huaneng and China Sinochem have officially moved to Xiong'an, with over 1,000 employees from each company now operating in the area [1]. - The Xiong'an New Area is committed to supporting the relocation of central enterprises, ensuring a smooth transition through effective coordination of policies and resources [1]. - The successful establishment of these enterprises in Xiong'an serves as a valuable experience for future relocations of other central enterprises [1]. Group 2 - China Sinochem views its move to Xiong'an as a historic opportunity to engage deeply in the area's development and align with national strategic goals [2]. - The presence of these leading central enterprises is expected to attract related upstream and downstream companies, promoting industrial upgrades and the creation of a high-quality industrial ecosystem in Xiong'an [2]. - The influx of employees from these enterprises will bring talent and technology to Xiong'an, enhancing the city's functionality and vitality [2].

（原标题：中国华能、中国中化正式迁驻雄安 已进入常态化办公状态） 今天上午，中国华能集团有限公司与中国中化控股有限责任公司在雄安新区的总部大楼前举行了升旗仪 式，标志着作为雄安新区首批疏解央企的中国华能和中国中化正式迁驻雄安。 一直以来，雄安新区高度重视承接北京非首都功能疏解工作，为央企在雄安的发展提供了全方位的支持 与保障。从办公场地的规划建设到员工生活的配套服务，新区相关部门主动对接企业需求，在政策落 实、资源协调等方面高效协同，确保了企业搬迁过渡平稳有序。 两家龙头央企在雄安落地扎根，将进一步带动相关产业链上下游企业向雄安新区集聚，促进新区产业结 构优化升级，加速构建高质量发展的产业生态体系。同时，央企员工的大规模入驻也将为雄安新区带来 人才、技术等优质资源，推动城市功能的完善和城市活力的提升。 作为首批疏解央企，中国华能总部及直属单位的1000余名员工已在雄安新区进入常态化办公状态。中国 中化总部已步入常态化办公阶段，近1000名总部及相关配套单元的员工已在新办公场地有序开展工作。 ...

Core Points - China Huaneng Group and Sinochem Holdings have officially relocated to Xiong'an New Area, marking a significant step in the central enterprise relocation initiative [1][3][5] - The relocation is part of the broader strategy to relieve Beijing of non-capital functions and enhance the development of Xiong'an New Area [3][5][7] Group 1: Company Relocation - China Huaneng and Sinochem are among the first central enterprises to settle in Xiong'an, with their headquarters located within 300 meters of each other [3][4] - Over 1,000 employees from China Huaneng and nearly 1,000 from Sinochem have begun regular operations in Xiong'an [3][4] Group 2: Strategic Importance - The relocation is seen as a historical opportunity for both companies to integrate into national strategic frameworks and contribute to the development of Xiong'an [5][6] - China Huaneng aims to leverage its industry advantages to support energy supply, operational efficiency, and green development in Xiong'an [4][5] Group 3: Infrastructure and Support - Xiong'an New Area has provided comprehensive support for the relocation, including planning, construction, and employee living services [3][5] - The successful move of these enterprises is a testament to the area's capability to facilitate the transition of central enterprises [3][5] Group 4: Future Prospects - Both companies plan to utilize their strengths in technology innovation and industrial development to contribute to Xiong'an's long-term goals [5][6] - The presence of these central enterprises is expected to attract related industries and enhance the local talent and resource pool [5][6]

Core Viewpoint - The relocation of China Huaneng Group and China Sinochem Holdings to Xiong'an New Area marks a significant step in the central enterprises' efforts to support the development of the region and implement national strategies [1][3]. Group 1: Relocation and Operational Status - China Huaneng and China Sinochem have officially moved to Xiong'an New Area, with over 1,000 employees from China Huaneng and nearly 1,000 from China Sinochem now operating in a normalized work environment [1][2]. - The successful transition of these enterprises demonstrates the Xiong'an New Area's effective support and coordination in facilitating the relocation of central enterprises [2]. Group 2: Strategic Importance and Future Plans - China Huaneng aims to leverage its industrial advantages to contribute to the high-level technological self-reliance and the construction of a modern industrial system in Xiong'an [2]. - China Sinochem views its relocation as a historical opportunity to integrate into national strategies and plans to utilize its strengths in technology innovation and green transformation to support the development of Xiong'an [3]. Group 3: Impact on Xiong'an New Area - The establishment of these central enterprises in Xiong'an is expected to attract related upstream and downstream industries, enhancing the region's industrial structure and promoting high-quality development [4]. - The influx of employees from these enterprises will bring valuable talent and technology resources to Xiong'an, improving urban functions and vitality [4].

Core Viewpoint - The relocation of China Huaneng Group and China Sinochem Holdings to Xiong'an New Area marks a significant step in the central enterprises' efforts to alleviate non-capital functions from Beijing, contributing to the development of the new area [1][4]. Group 1: Company Overview - China Huaneng is a state-owned enterprise with a registered capital of 20 billion RMB, focusing on power development, investment, construction, and management, as well as related industries such as finance, coal, transportation, new energy, and environmental protection [3]. - The headquarters of China Huaneng covers an area of approximately 111,100 square meters, featuring a 26-story tower with a height of 130 meters, and includes offices, meeting rooms, and service facilities [3]. - China Sinochem, formed from the merger of China Sinochem Group and China National Chemical Corporation, is a major state-owned enterprise with 220,000 employees, operating in eight sectors including life sciences, materials science, petrochemicals, and urban operations [3]. Group 2: Development in Xiong'an New Area - The Xiong'an New Area is currently undergoing large-scale construction and is in the process of accommodating the non-capital functions of Beijing [4]. - In addition to China Huaneng and China Sinochem, China Satellite Network Group has also moved into the Xiong'an headquarters building, while China Mineral Resources Group's headquarters project is under construction and has entered the finishing stage [4].

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中化化肥控股有限公司 呈交日期: 2025年10月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00297 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 80,000,000,000 | HKD | | 0.1 | HKD | | 8,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 80,000,000,000 | HKD | | 0.1 | HKD | | 8,000,000,000 | | 2 ...

Core Viewpoint - The emphasis on strengthening political supervision in state-owned enterprises (SOEs) is crucial for ensuring the implementation of the Party's decisions and enhancing the core competitiveness of these enterprises [3][4][6]. Group 1: Political Supervision Importance - Political supervision is essential for maintaining the political direction and ensuring that SOEs align with the Party's core leadership [3][4]. - SOEs play a vital role in national security, basic livelihood, and economic development, necessitating robust political supervision to fulfill their strategic missions [4][6]. - The restructuring of state-owned enterprises, such as the formation of China Sinochem Holdings, is aimed at enhancing their capabilities in agriculture, chemical materials, and energy supply [4]. Group 2: Risk Management - Strengthening political supervision is necessary for SOEs to effectively manage and mitigate risks, especially in a complex international environment [6]. - SOEs must enhance their competitiveness and risk control capabilities to prevent systemic risks and ensure stability in the economy [6]. Group 3: Anti-Corruption Efforts - Political supervision is critical in combating corruption within SOEs, focusing on key areas such as major projects and procurement processes [7]. - The ongoing anti-corruption campaign highlights the need for SOEs to strengthen their internal governance and accountability mechanisms [7]. Group 4: Supervision Mechanisms - A comprehensive closed-loop management system for political supervision is being established to ensure effective oversight and implementation of Party directives [9][10]. - The "six questions" closed-loop supervision model has been developed to systematically address the implementation of Party policies within SOEs [9]. Group 5: Continuous Improvement - Continuous improvement in political supervision is necessary to address emerging issues and enhance the effectiveness of oversight mechanisms [11]. - The focus on problem-oriented supervision aims to identify and resolve specific issues within SOEs, ensuring accountability and governance [10][11]. Group 6: Collaborative Efforts - A coordinated approach among various supervisory bodies is essential to strengthen the overall effectiveness of political supervision in SOEs [12][13]. - The integration of different supervisory functions, including disciplinary and audit oversight, is crucial for achieving comprehensive governance [13].

Core Points - The signing of the memorandum between Sinochem Fertilizer Macau Co., Ltd. and Arab Potash Company (APC) for the years 2026-2028 aims to strengthen strategic cooperation and ensure stable supply of potash fertilizer in China, contributing to food security [1][2] - The partnership between Sinochem Fertilizer and APC has a history of over 40 years, recognized as one of the most strategically significant collaborations in the fertilizer industry [1] - The memorandum is expected to enhance the quality of service for domestic potash supply and price stability, promoting steady agricultural development in China [2] Group 1 - The memorandum will allow Sinochem Fertilizer to continue as the exclusive agent for APC's potash sales in China, reinforcing the long-standing strategic partnership [1] - Both companies will explore deeper cooperation based on their established relationship, aiming for mutual benefits and a stable supply of potash fertilizer [1] - The partnership is seen as a successful model of global cooperation in potash fertilizer, with both companies committed to supporting global food security [2] Group 2 - The signing is viewed as a significant milestone in the cooperation journey, establishing a long-term partnership based on mutual trust and common goals [2] - The collaboration has transcended commercial boundaries, forming a strategic alliance that opens up new opportunities for global market expansion [2] - APC's commitment to providing reliable and high-quality products to major markets is emphasized, enhancing its influence in the global fertilizer market [2]

Core Viewpoint - The company is expected to maintain stable operations and enhance profitability through its "Bio+" strategy, with projected revenue and net profit growth in 2025 and 2026 [1] Group 1: Financial Performance - For the first half of 2025, the company reported revenue of 14.715 billion, a year-on-year increase of 7.6%, with a gross profit of 2.025 billion, up 21.8%, and a net profit of 1.104 billion, reflecting a 5.1% increase [2] - The gross margin and net profit margin were 13.8% and 7.5%, showing a year-on-year increase of 1.6 percentage points and a decrease of 0.2 percentage points, respectively [2] - The core business contributed 7.557 billion in revenue, a 9.9% increase, with segment profit of 719 million, up 53.3%, accounting for 51% and 50% of total revenue and profit, respectively [3] Group 2: Business Segments - The core business saw potassium fertilizer revenue of 2.988 billion, a 19.2% increase, and phosphorus fertilizer revenue of 4.362 billion, a 4.5% increase [3] - The growth business generated revenue of 5.857 billion, a 5.4% increase, with segment profit also increasing by 5.4% to 420 million [4] - High-end compound fertilizer sales increased by 51% in the first half of the year, demonstrating the effectiveness of the "Bio+" strategy [4] Group 3: Production and Financial Health - Production business revenue reached 1.3 billion, a 4.2% increase, but segment profit decreased by 15.6% to 301 million due to rising raw material costs and falling ammonia prices [5] - As of the first half of 2025, the company had interest-bearing debt of 1.788 billion, slightly down from the end of 2024, and cash and equivalents of 5.329 billion, indicating a strong financial position [6]

Core Viewpoint - The company is expected to maintain stable operations and enhance profitability through the "Bio+" strategy, with projected revenue and net profit growth in 2025 and 2026 [1] Group 1: Financial Performance - For H1 2025, the company reported revenue of 14.715 billion, a year-on-year increase of 7.6%, with a gross profit of 2.025 billion, up 21.8%, and a net profit of 1.104 billion, growing by 5.1% [2] - The gross margin and net profit margin were 13.8% and 7.5%, reflecting a year-on-year increase of 1.6 percentage points and a decrease of 0.2 percentage points, respectively [2] - The core business contributed 7.557 billion in revenue, a 9.9% increase, with segment profit of 719 million, up 53.3%, accounting for 51% and 50% of total revenue and profit [3] Group 2: Business Segments - The potassium fertilizer segment generated 2.988 billion in revenue, a 19.2% increase, while the phosphorus fertilizer segment reached 4.362 billion, growing by 4.5% [3] - The growth business segment reported revenue of 5.857 billion, a 5.4% increase, with segment profit of 420 million, also up 5.4% [4] - High-end compound fertilizer sales increased by 51% year-on-year, demonstrating the effectiveness of the "Bio+" strategy [4] Group 3: Production and Financial Health - The production business generated 1.3 billion in revenue, a 4.2% increase, but segment profit decreased by 15.6% to 301 million due to rising raw material costs and falling ammonia prices [5] - As of H1 2025, the company had interest-bearing debt of 1.788 billion, slightly down from the end of 2024, and cash and equivalents of 5.329 billion, indicating a strong financial position [6]