EF001 免責聲明 第 2 頁 共 2 頁 v 1.1.1 第 1 頁 共 2 頁 v 1.1.1 EF001 發行人所發行上市權證/可轉換債券的相關信息 發行人所發行上市權證/可轉換債券 不適用 其他信息 其他信息 不適用 發行人董事 於本公告日期， 執行董事為楊雪崗先生、路小梅女士、李慶華先生、韓勤亮先生、王年平先生及楊路先生， 獨立非執行董事為余 國權博士、王引平先生及劉曉峰博士。 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 中國旭陽集團有限公司 | | 股份代號 | 01907 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 澄清公告 - 更改暫停辦理股份過戶登記手續之日期及記錄日期 | | | 公告日期 | 2025年9月1日 | | 公告狀態 | 更新公告 | | 更新/撤回理由 更改暫停辦 ...

China Risun Group Limited 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或 任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 中國旭陽集團有限公司 1 （於開曼群島註冊成立的有限公司） （股份代號：1907） 澄清公告 更改暫停辦理股份過戶登記手續之日期及記錄日期 茲提述中國旭陽集團有限公司（「本公司」）日期均為2025年8月29日的公告，內容 有關截至2025年6月30日止六個月未經審核中期業績（「該公告」）及截至2025年6 月30日止六個月中期股息現金股息公告表格。除文義另有所指外，本公告所用詞 彙與該公告所界定者具有相同涵義。 更改暫停辦理股份過戶登記手續之日期及記錄日期 誠如該公告所述，董事會宣派截至2025年6月30日止六個月中期股息每股人民幣 0.20分（「中期股息」）。為確定股東收取中期股息的權利，本公司原定於2025年9 月10日（星期三）至2025年9月12日（星期五）期間（包括首尾兩日）暫停辦理股份 過戶登記手續。 本公司謹此澄清，為確定股東收取中期股息的 ...

Core Insights - China Xuyang Group (01907) reported a mid-year performance for 2025 with an EBITDA of 1.86 billion, reflecting a quarter-on-quarter increase of 2.8% [1] - The net profit reached 87 million, showing a significant quarter-on-quarter increase of 325% [1] - Overall gross profit amounted to 1.69 billion, which is a quarter-on-quarter rise of 5.7% [1] - Total assets stood at 63.26 billion, marking a quarter-on-quarter growth of 3.1% [1]

Financial Performance - The company reported an EBITDA of 1.86 billion RMB for the first half of 2025, representing a quarter-on-quarter increase of 2.8% [1] - Net profit reached 87 million RMB, showing a significant quarter-on-quarter increase of 325% [1] - Overall gross profit was 1.69 billion RMB, with a quarter-on-quarter increase of 5.7% [1] - Total assets amounted to 63.26 billion RMB, reflecting a quarter-on-quarter increase of 3.1% [1] Business Segments - The revenue from the coke segment was 6.36 billion RMB, accounting for 63.6% of total revenue [20] - The revenue from operational management services was 5.10 billion RMB, representing 30.9% of total revenue [20] - The chemical segment generated revenue of 9.10 billion RMB, contributing 14.8% to total revenue [20] - The gross profit from the coke segment was 760 million RMB, making up 44.8% of total gross profit [21] - The operational management segment's gross profit was 170 million RMB, accounting for 44.9% of total gross profit [21] - The chemical segment's gross profit was 103 million RMB, contributing 10.3% to total gross profit [21] Industry Position - The company is recognized as the largest independent coke producer and supplier globally, as well as a leading processor of crude benzene [10] - It ranks as the second-largest producer of caprolactam and high-temperature coal tar in the world [12] - The company is also the largest producer of coke oven gas for methanol production in China [12] - It holds the position of the second-largest high-purity hydrogen supplier in China [13] Global Expansion - The company has established a global marketing network with subsidiaries in Hong Kong, Indonesia, Singapore, and Japan, and has opened seven offices in various countries [26] - The operational management services have expanded significantly, with a total capacity of 7.66 million tons [27] - The company aims to enhance its global supply chain network and is focused on transitioning to a service-oriented manufacturing model [49] Innovation and R&D - The company has developed a non-nitration process for producing 2-amino-2-methyl-1-propanol, positioning itself as the largest supplier of this product in China and the second-largest globally [30] - It has achieved EU REACH certification, allowing access to the European market [32] - The company is committed to innovation in new materials and aims to lead in green hydrogen production technologies [35]

Core Viewpoint - The company is actively advancing its capacity construction and strategic asset restructuring, focusing on the development of new materials and cost control advantages in production. Group 1: Capacity Construction and Release - The company is fully promoting the construction of 200,000 tons of integrated anode materials and a 580,000 kW source-network-load-storage project. The first phase of 50,000 tons of front-end production line has been completed and is gradually entering the debugging production stage. Collaborating parties have formed a total of 68,000 tons of front-end and 68,000 tons of graphitization capacity. The construction of the first phase of 283,000 kW wind-solar power and transmission lines, as well as the second phase of 50,000 tons of front-end capacity and 82,000 tons of graphitization capacity, has also started, with completion expected by the end of this year, resulting in a total of 140,000 tons of anode capacity [2]. Group 2: Cost Control Advantages - The new production capacity has significant cost control advantages. The Inner Mongolia region has low electricity costs, abundant wind and solar resources, and a low-temperature environment, which creates a resource synergy effect for anode material production. The 580,000 kW source-network-load-storage green electricity supply is expected to increase the green electricity coverage ratio to over 50%, significantly reducing electricity costs. Additionally, the new production capacity is designed to be highly intensive, intelligent, and scientific, effectively improving management efficiency and output levels [2]. Group 3: Major Asset Restructuring Progress - Based on future strategic planning, the company initiated a major asset restructuring in the first half of the year, intending to issue shares to acquire the chemical new materials business assets of Xuyang Group and raise matching funds. Upon completion of the transaction, the company will add a nylon new materials business, forming a dual main business structure of "anode materials + nylon new materials." The board of directors approved the relevant proposals on May 16, 2025, and due diligence, auditing, and evaluation work are still in progress. The board will convene again to review the formal plan and submit it for shareholder meeting approval [2]. Group 4: New Materials Product R&D - The company has made significant achievements in new materials research and development. Relying on its own technology and the raw material advantages of Xuyang Group, the asphalt-based silicon-carbon anode product has completed pilot testing and sample delivery. This product has higher capacity, first-time efficiency, and compressive strength compared to resin-based and biomass-based silicon-carbon anodes. In terms of hard carbon anodes, the company has completed the process development of biomass hard carbon and is also conducting research on coal-based and asphalt-based products [2].

第 1 頁 共 2 頁 v 1.1.1 EF001 免責聲明 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 | | | --- | --- | | 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | 股票發行人現金股息公告 | | | 發行人名稱 | 中國旭陽集團有限公司 | | 股份代號 | 01907 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 截至2025年6月30日止六個月未經審核中期業績公告 | | | 公告日期 | 2025年8月29日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 | 普通股息 | | 財政年末 | 2025年12月31日 | | 宣派股息的報告期末 | 2025年6月30日 | | 宣派股息 | 每 股 0.002 RMB | | 股東批准日期 | 不適用 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 每 股 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部 或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 China Risun Group Limited 中國旭陽集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號： 1907） 截 至 2025年 6月 30日止六個月 未經審核中期業績公告 摘 要 中 國 旭 陽 集 團 有 限 公 司（「 本公司 」）董 事（「 董 事 」）會（「 董事會 」）欣 然 公 佈 本 公 司 及 其 附 屬 公 司（ 統 稱「 本集團 」）截 至 2025年 6月 30日 止 六 個 月（「 報告期 」或 「 本中期期間 」或「 本期間 」）的 未 經 審 核 綜 合 業 績 ， 連 同 截 至 2024年 6月 30日 止 六 個 月（「 上個期間 」）的 未 經 審 核 的 比 較 數 字 。 1 | | | | 截 至 6月 | 30日止六個月 | | --- | --- | --- | --- | --- | | | | | 2025年 | 2024年 | ...

Core Insights - The essence of the cyclical nature of industries and companies is highlighted, emphasizing that every industry experiences cycles of excess and competition, and companies either thrive or perish within these cycles [1] Group 1: Historical Development - From 1995 to 1999, the company was founded during a challenging period in the coking industry, establishing its first demonstration project and adopting innovative operational strategies to gain a competitive edge [2] - Between 2000 and 2009, the company expanded rapidly, becoming the largest independent coke producer globally, with revenues increasing from 0 to 141 billion yuan, a 501-fold growth [3] - From 2010 to 2021, the company faced price declines but adapted through transformation and strategic acquisitions, achieving a revenue of 81 billion yuan in 2021, a 473% increase from 2009 [4] Group 2: Future Strategy - From 2022 to 2025, the company aims to build a global presence, with significant investments in Indonesia and the establishment of overseas subsidiaries, enhancing its market reach and operational capabilities [5][6] - The company plans to leverage its experience and capabilities to create a globally recognized "industry + service" group, focusing on enhancing its leadership in the coking and chemical industries while pursuing low-carbon transitions [7][8] - The company is committed to a comprehensive digital transformation, aiming to integrate its operations and enhance efficiency through advanced technologies and management practices [9] Group 3: Social Responsibility and Sustainability - The company is dedicated to achieving carbon neutrality and promoting low-carbon production practices, positioning itself as a global leader in green energy and chemical production [9][10]

Core Insights - The essence of any industry is cyclical, competitive, and prone to excess, as articulated by Yang Xuegang, Chairman of Xuyang Group, reflecting the company's journey over 30 years [1] Group 1: Historical Development - From 1995 to 1999, Xuyang was established during a challenging period in the coking industry, pioneering the first coking project in Hebei and significantly reducing production costs through innovative strategies [2] - Between 2000 and 2009, Xuyang capitalized on the industrialization wave in China, becoming the largest independent coking producer globally, with revenues soaring to 14.1 billion yuan, a 501-fold increase from 1999 [3] - From 2010 to 2021, Xuyang faced price declines but adapted through transformation and innovation, achieving a revenue of 81 billion yuan in 2021, a 473% increase from 2009 [4] Group 2: Future Strategy - From 2022 to 2025, Xuyang is focusing on global expansion, with significant projects in Indonesia and the establishment of a comprehensive supply network across multiple countries [5][6] - The company aims to enhance its competitive edge by integrating various business segments, including coking, chemicals, hydrogen energy, and new materials, while transitioning to an innovation-driven model [6] - Xuyang's future plans include a seventh five-year development plan (2026-2030) to solidify its position as a global leader in the "industry + service" model, emphasizing digital transformation and low-carbon initiatives [7][8] Group 3: Operational and Financial Management - Xuyang is committed to optimizing its operational management through the "Xuyang Cloud" platform, enhancing efficiency across the entire supply chain [8] - The company is focused on improving its financial health by managing cash flow effectively and maintaining a robust asset-liability structure [9] - Xuyang aims to fulfill its social responsibility by promoting low-carbon production and contributing to global industrial upgrades [9][10]

Investment Rating - The industry rating is "Positive" [1] Core Viewpoints - The social inventory of coal continues to decline, and the significant rise in futures prices boosts market confidence [6] - The coal sector has shown a mixed performance, with the CITIC coal industry index rising by 1.23%, underperforming the CSI 300 index which increased by 4.18% [2] - The coal supply-demand balance is improving, with a slight decrease in coal prices during the off-season, while coking coal production may see a marginal improvement due to environmental factors [6] Summary by Sections Coal Market Performance - As of August 22, 2025, the average daily coal sales of monitored enterprises were 7.08 million tons, a week-on-week decrease of 1.1% and a year-on-year decrease of 0.7% [2] - The total coal inventory of monitored enterprises (including port storage) was 26.71 million tons, a week-on-week increase of 2% and a year-on-year decrease of 0.8% [2] Price Trends - The price of thermal coal (Q5500K) in the Bohai Rim was 671 CNY/ton, a week-on-week increase of 0.15% [3] - The price of coking coal at major ports remained stable, while the futures settlement price for coking coal was 1,141.5 CNY/ton, a week-on-week decrease of 6.7% [4] Investment Recommendations - The report suggests focusing on high-dividend thermal coal companies and turnaround coking coal companies, with specific recommendations for companies such as China Shenhua, Shaanxi Coal, and others [6] - The overall coal supply-demand structure is expected to improve, with a gradual balance in supply and demand in the second half of the year [6]