Group 1 - Since 2022, the chemical industry has faced price declines due to new capacity coming online and falling crude oil prices, leading to a decrease in overall profitability as companies adopt a price-for-volume strategy to capture market share [1] - In 2024, most chemical prices are stabilizing at low levels, with profitability still under pressure; however, the introduction of growth stabilization measures may lead to the elimination of some outdated capacities, improving the overall supply-demand balance and potentially enhancing product profitability [1] - According to Huatai Securities, by the second half of 2025, the profitability of bulk chemicals is expected to hit a ten-year low due to weak demand and the end of supply-side increases, with the current downturn resembling the bottom of the basic chemical sector in late 2015 [1] Group 2 - The chemical industry is characterized as a typical cyclical industry, usually experiencing a five-year cycle that includes phases of "profit upturn - capacity expansion - profit bottoming - capacity clearance/demand expectation improvement" [2] - With capital expenditure growth turning negative, anti-involution trends, global interest rate cuts, and domestic demand expansion, there is optimism for the chemical sector entering a "dawn" phase at the beginning of the 14th Five-Year Plan [2] - The chemical industry chain includes several Hong Kong-listed companies such as Sinopec (600028)(00386), Sinopec Oilfield Service (600871)(01033), and Shanghai Petrochemical (600688)(00338) [3]

Group 1 - Since 2022, the chemical industry has faced price declines due to new capacity coming online and falling crude oil prices, leading to a decrease in overall profitability as companies adopt a price-for-volume strategy to capture market share [1] - In 2024, most chemical prices are stabilizing at the bottom, with profitability still under pressure; however, the introduction of growth stabilization measures may lead to the elimination of some outdated capacities, improving the overall supply-demand balance and potentially enhancing product profitability [1] - According to Huatai Securities, by the second half of 2025, the profitability of bulk chemicals is expected to hit a ten-year low due to weak demand and the end of supply-side increments, similar to the industry losses seen at the end of 2015 [1] Group 2 - The chemical industry is characterized as a typical cyclical industry, usually experiencing a five-year cycle through stages of "profit upturn - capacity expansion - profit bottoming - capacity clearance/demand expectation improvement" [2] - With negative growth in capital expenditure, anti-involution trends, global interest rate cuts, and domestic demand expansion, the chemical sector is anticipated to enter a "dawn" phase at the beginning of the 14th Five-Year Plan [2] - Related Hong Kong stocks in the chemical industry include Sinopec (00386), Sinopec Oilfield Service (01033), Sinopec Engineering (02386), Shanghai Petrochemical (00338), Sinopec Kantons (00934), China Sanjiang Chemical (02198), and Wuhan Organic Chemicals (02881) [3]

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，概不對因本公告全部或任何 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。 CHINA SANJIANG FINE CHEMICALS COMPANY LIMITED 中國三江精細化工有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2198） 二零二六年一月十五日舉行的股東特別大會表決結果 中國三江精細化工有限公司（「本公司」）於二零二六年一月十五日舉行股東特別大會 （「股東特別大會」），在股東特別大會通告內所載所有決議案之表決以投票方式進 行。所有決議案已獲本公司股東（「股東」）正式通過。 決議案全文載於日期為二零二五年十二月十八日的股東特別大會通告。投票表決結 果如下： 誠如上文所披露，就董事作出一切合理查詢後所深知、全悉及確信，(i)概無股份賦 予股東權利出席股東特別大會並根據上市規則第13.40條放棄投票贊成於股東特別 大會上提呈的決議案；及(ii)概無其他股東須根據上市規則於股東特別大會上放棄 投票。概無任何股東於股東特別大會就提呈的決議案的投票受到限制，且概 ...

Group 1 - The core viewpoint of the article highlights that China Sanjiang Chemical (02198) has seen a stock price increase of over 7%, currently trading at 3.64 HKD with a transaction volume of 39.2025 million HKD [1] - According to a report from Industrial Securities, the chemical industry is expected to experience a cyclical recovery and industrial upgrade by 2026, following three years of bottom-range operations for chemical products [1] - The report indicates that the growth rate of ongoing projects in the industry is continuously declining, and the new capacity release is nearing its end, suggesting a potential for recovery in traditional demand for chemical products [1] Group 2 - The article mentions that the "14th Five-Year Plan" is expected to stimulate domestic growth policies, coinciding with the Federal Reserve entering a rate-cutting cycle, which may lead to a mild recovery in chemical product demand [1] - The "anti-involution" trend is anticipated to accelerate the cyclical turning point, with core chemical assets that possess global competitive advantages likely to see profit and valuation recovery [1] - China Sanjiang Chemical primarily engages in the production and supply of ethylene oxide, ethylene glycol, polypropylene, and surfactants, with its main products including ethylene oxide, ethylene glycol, polypropylene (PP), surfactants, water-reducing agents, methyl tert-butyl ether/carbon four (MTBE/C4), and crude butylene among others [1]

Group 1 - The core viewpoint of the article highlights that China Sanjiang Chemical (02198) has seen a stock increase of over 7%, currently trading at 3.64 HKD with a transaction volume of 39.2025 million HKD [1] - According to a report from Industrial Securities, the chemical industry is expected to experience a cyclical recovery and industrial upgrade by 2026, following three years of bottom-range operation for chemical products [1] - The report indicates that the growth rate of ongoing projects in the industry is continuously declining, and the new capacity release is nearing its end, suggesting a potential turning point for the industry [1] Group 2 - The article mentions that the domestic growth stabilization policies are likely to take effect in the first year of the 14th Five-Year Plan, alongside the Federal Reserve entering a rate-cutting cycle, which may lead to a mild recovery in traditional chemical product demand [1] - The "anti-involution" trend is expected to accelerate the cyclical turning point, with core chemical assets that possess global competitive advantages likely to see profit and valuation recovery [1] - China Sanjiang Chemical primarily engages in the production and supply of ethylene oxide, ethylene glycol, polypropylene, and surfactants, with its main products including ethylene oxide, ethylene glycol, polypropylene (PP), surfactants, water-reducing agents, methyl tert-butyl ether/carbon four (MTBE/C4), and crude pentene among others [1]

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 致：香港交易及結算所有限公司 公司名稱: 中國三江精細化工有限公司 呈交日期: 2026年1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) | 02198 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | HKD | | 0.1 | HKD | | 500,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 5,000,000,000 | HKD | | 0.1 | HKD | | 500,000,000 | 截至月份: 2025年12月31日 狀態: 新提交 III.已發行 ...

Core Viewpoint - China Sanjiang Chemical (02198) has entered into a purchase agreement with Jiahua Energy Chemical for the supply of ammonia water, effective from January 1, 2026, to December 31, 2026, which aims to regulate the supplier-customer relationship [1] Group 1: Agreement Details - The agreement includes the supply of ammonia water, a byproduct generated during the production process [1] - The collaboration is non-exclusive and aims to create new sales avenues for ammonia water [1] - The proximity of the production bases of both companies in the same economic and technological development zone will reduce transportation costs for supplying ammonia water [1]

Core Viewpoint - China Sanjiang Chemical (02198) has entered into a purchase agreement with Jiahu Energy Chemical Company (600273) for the supply of ammonia water, effective from January 1, 2026, to December 31, 2026, which aims to regulate the supplier-customer relationship between the two companies [1] Group 1: Agreement Details - The agreement includes the supply of ammonia water, a byproduct generated during the production process [1] - The collaboration is non-exclusive and aims to create new sales avenues for ammonia water due to the proximity of both companies' production bases [1] - The agreement is expected to reduce transportation costs for supplying ammonia water, benefiting both companies [1]

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，概不對因本公告全部或任何 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。 CHINA SANJIANG FINE CHEMICALS COMPANY LIMITED 中國三江精細化工有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2198） 持續關連交易 — 氨水購買協議 持續關連交易 氨水購買協議 於二零二五年十二月二十九日，本公司（包括其附屬公司）與嘉化能源化工公司 （包括其附屬公司）訂立冷凝水及其他物料購買協議，以規管供應商與客戶之關 係。根據氨水購買協議，本公司（包括其附屬公司）已同意向嘉化能源化工公司 （包括其附屬公司）供應氨水，期限自二零二六年一月一日至二零二六年十二月三 十一日止。 上市規則之涵義 由於有關年度上限的相關適用比率超過0.1%但少於5%，因此，根據上市規則第 14A章，氨水購買協議及其項下擬進行的交易須遵守申報、公告及年度審閱規 定，但獲豁免遵守通函（包括獨立財務建議）及獨立股東批准之規定。 – 1 – 氨水購買協議 日期 期限 氨水購買協 ...

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，概不對因本公告全部或任何 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。 CHINA SANJIANG FINE CHEMICALS COMPANY LIMITED 中國三江精細化工有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2198） 持續關連交易 — 維修及維護服務相關的框架協議 持續關連交易 董事宣佈，本公司與港安工業於二零二五年十二月二十九日訂立框架協議，以規 管框架協議項下交易的委託人與承包商關係。 上市規則之涵義 框架協議 董事宣佈，本公司與港安工業於二零二五年十二月二十九日訂立框架協議，以規管 框架協議項下交易的委託人與承包商關係。 日期： 二零二五年十二月二十九日 訂約方： (1) 關連人士港安工業；及 (2) 本公司。 標的事項 港安工業已同意就化工廠及機械設備向本集團提供維修及維護服務。 期限 框架協議應自二零二六年一月一日起生效，期限於二零二六年十二月三十一日屆 滿，並可經訂約方進一步協定後予以續期（須遵守上市規則）。 鑒於年度上限的有關適用 ...