证券代码：600096 证券简称：云天化 公告编号：临 2025-055 号 云南云天化股份有限公司 2025年第五次临时股东大会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、会议召开和出席情况 （一）股东大会召开的时间：2025 年 08 月 11 日 （二）股东大会召开的地点：公司总部会议室 （三）出席会议的普通股股东和恢复表决权的优先股股东及其持 有股份情况： | 1. | 出席会议的股东和代理人人数 | 677 | | --- | --- | --- | | 2. | 出席会议的股东所持有表决权的股份总数（股） | 910,050,928 | | 3. | 出席会议的股东所持有表决权股份数占公司有表决权股份总数 | 49.9207 | | 的比例（%） | | | 1. 公司在任董事9人，出席7人，董事郑谦先生，独立董事郭鹏 飞先生因工作原因未能出席； 2. 公司在任监事6人，出席5人，监事唐语莲女士因工作原因未 能出席； 3. 董事会秘书苏云先生出席了本次会 ...

证券代码：600096 证券简称：云天化 公告编号：临 2025-057 云南云天化股份有限公司 第十届董事会第一次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： ●全体董事参与表决 一、董事会会议召开情况 云南云天化股份有限公司（以下简称"公司"）第十届董事会第 一次会议于 2025 年 8 月 11 日以现场表决的方式召开。应当参与表决 董事 9 人，实际参加表决董事 9 人，符合《公司法》和《公司章程》 的有关规定。 二、董事会会议审议情况 （一）9 票同意、0 票反对、0 票弃权，审议通过了《关于选举 第十届董事会董事长的议案》。 选举宋立强先生为公司第十届董事会董事长。 任期至本届董事会届满之日止。 （二）9 票同意、0 票反对、0 票弃权，审议通过了《关于选举 第十届董事会专门委员会委员的议案》。 公司于 2025 年 8 月 11 日分别召开了第十届董事会审计委员会、 提名委员会、薪酬与考核委员会 2025 年第一次会议，各专门委员会 分别全票审议通过了《关于选举第十届董事会审计委员 ...

Group 1 - The 12th World Congress of Chemical Engineering and the 21st Asia-Pacific Chemical Alliance Conference opened, highlighting China's position as the largest producer and consumer in the global chemical industry [1] - In the fine chemical sector, China's revenue accounts for 50% of the global market share [1] Group 2 - Comprehensive leading companies include Wanhua Chemical, the largest global MDI producer, and New Chemical Materials, which covers the entire industrial chain of polyurethane, petrochemicals, new materials, and fine chemicals [4] - Other leading companies in specific segments include Longbai Group, the world's largest titanium dioxide producer, and Yuntianhua, a domestic leader in phosphate resources [4][5] Group 3 - Potential companies include Yuanli Technology, which has the world's largest production capacity for dimethyl adipate, and Zhongyan Chemical, the global leader in sodium metal production [5]

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Views - The chlor-alkali industry is experiencing a recovery in profitability, driven by a tightening supply of glyphosate and glufosinate, leading to price increases [4][20] - The "anti-involution" policy is expected to be a key focus in 2025 and beyond, aiming to optimize the competitive landscape in the chemical industry [26] Summary by Sections Industry Trends - The chemical industry index outperformed the CSI 300 index by 1.1% this week, with 76.7% of the 545 tracked stocks showing weekly gains [17] - The average price of glyphosate increased to 26,399 CNY/ton, a rise of 0.37% from the previous week, while glufosinate also saw a price increase [21][22] Key Products Tracking - Urea and potassium chloride prices have risen, while phosphorite and phosphates remain stable [52] - The average price of urea reached 1,780 CNY/ton, up 0.62% from the previous week, driven by improved market sentiment [52][54] Recommended and Beneficiary Stocks - Recommended stocks include leading chemical companies such as Wanhua Chemical, Hualu Hengsheng, and Hengli Petrochemical [6][26] - Beneficiary stocks include companies like Jiangshan Co., Ltd. and Hebei New Chemical Materials [24][27]

Investment Rating - The report maintains an "Outperform" rating for the agricultural chemical industry [4][8]. Core Viewpoints - The agricultural chemical industry is experiencing upward price trends in potassium and glyphosate, with an expanding price gap for phosphate exports [1][3]. - The supply-demand balance for potassium fertilizer is tight, with international prices continuing to rise, while domestic production is expected to decrease slightly in 2024 [1][23]. - The phosphate chemical sector is expected to maintain a high price level due to the scarcity of resources and increasing demand from new applications such as lithium iron phosphate [2][46]. - The pesticide sector is anticipated to see a recovery as the "rectification and reform" initiative progresses, with demand increasing due to rising agricultural planting areas in South America [3][4]. Summary by Sections Potassium Fertilizer - The global potassium fertilizer market is characterized by a supply-demand imbalance, with China being the largest consumer and an import dependency exceeding 60% [1][23]. - Domestic potassium chloride production is projected to be 5.5 million tons in 2024, a decrease of 2.7% year-on-year, while imports are expected to reach a record high of 12.633 million tons, up 9.1% [1][23]. - The average price of potassium chloride in July rose from 3,239 CNY/ton to 3,399 CNY/ton, stabilizing at 3,230 CNY/ton by the end of the month [1][40]. Phosphate Chemicals - The long-term price center for phosphate rock is expected to remain high due to declining grades and increasing extraction costs, with the market price for 30% grade phosphate rock remaining above 900 CNY/ton for over two years [2][46]. - As of July 31, 2025, the price for 30% grade phosphate rock in Hubei was 1,040 CNY/ton, while in Yunnan it was 970 CNY/ton, both stable compared to the previous month [2][46]. - The price gap between domestic and international phosphate fertilizers has widened, benefiting companies with export quotas [3][46]. Pesticides - The pesticide sector is entering a recovery phase, with demand driven by increased agricultural planting areas in South America [3][4]. - The pesticide price index has seen a significant decline over the past three years, but demand is expected to strengthen as inventory levels are replenished [3][4]. - Key companies in the pesticide sector include Yangnong Chemical and Lier Chemical, which are recommended for investment [4][8].

云南云天化股份有限公司 YUNNAN YUNTIANHUA CO.,LTD 2025 年第五次临时股东大会会议资料 2025 年第五次临时股东大会 会议资料 目录 | | 会议议程 | 3 | | --- | --- | --- | | 议案一 | 关于取消监事会并修订公司章程的议案 | 5 | | 议案二 | 关于修订公司股东会议事规则的议案 | 24 | | 议案三 | 关于修订公司董事会议事规则的议案 | 25 | | 议案四 | 关于第十届董事会独立董事津贴标准的议案 | 26 | | 议案五 | 关于选举第十届董事会非独立董事的议案 | 27 | | 议案六 | 关于选举第十届董事会独立董事的议案 | 30 | 2 2025 年第五次临时股东大会会议资料 会议议程 一、参会股东资格审查 公司登记在册的所有股东或其代理人，均有权出席股东大会。股 东应当持身份证或其他能够表明其身份的有效证件或证明出席股东 大会。代理人还应当提交股东授权委托书和本人有效身份证件。 二、会议签到 三、主持人宣布会议开始 （一）介绍参加会议的公司股东和股东代表及所代表的股份总数， 介绍参加会议的公司董事、监事、高级管理人员等 ...

Core Viewpoint - The Inner Mongolia Bayannur Market Supervision Administration has released the first batch of product quality supervision and spot check results for 2025, focusing on agricultural materials during the spring farming preparation period, including polyethylene blown agricultural ground cover films, drip irrigation belts, and fertilizers [3]. Group 1: Product Quality Results - A total of 170 batches of products were inspected, with 164 batches passing and 6 batches failing the quality tests [3]. - The non-compliant items included polyethylene blown agricultural ground cover films, which failed on thickness, tensile load, and tear resistance; drip irrigation belts, which failed on tensile performance and flow uniformity; and fertilizers, which failed on total nutrient content [3]. Group 2: Inspection Details - The inspection covered various products such as polyethylene blown agricultural ground cover films, single-wing labyrinth drip irrigation belts, inner embedded drip irrigation belts, urea, compound fertilizers, diammonium phosphate, potassium fertilizers, large (medium) soluble fertilizers, and microbial agents [3]. - The inspection was conducted randomly across different banners and counties in Bayannur City [3].

内容概况：近年来，中国五氧化二磷行业呈现供需两旺的良性发展态势。2025年1-5月，中国五氧化二 磷产量为2.50万吨，同比增长36.74%；五氧化二磷消费量为1.86万吨，同比增长57.75%。从供给端看， 原料保障能力持续增强。同期全国磷矿石产量达4731.2万吨，同比增长14.4%，其中湖北、云南两省贡 献超60%的产量，形成"双核驱动"的供应格局。优质磷矿资源的稳定输出，为五氧化二磷生产提供了坚 实的原料基础，有效支撑了产能释放。需求端则呈现结构化升级特征。传统农业领域，受全球粮食安全 战略推动，磷肥需求持续攀升，带动磷酸一铵、磷酸二铵等基础磷化工产品产量同比增长，进而拉动了 五氧化二磷的工业级消费。值得注意的是，消费增速显著超越产量增速，反映出下游应用领域正从传统 农业向高附加值方向延伸，为行业转型升级注入新动力。 五氧化二磷行业产业链上游主要包括原材料和生产设备，其中原材料包括磷矿石、硫酸、煤炭等，生产 设备包括电炉、氧化水合装置、焦磷酸收集与消纳设备、环保设备、反应釜、萃取槽、盘式过滤机、离 心机、降温结晶器、酸雾捕捉器、废气处理装置等。产业链中游为五氧化二磷生产制造环节。产业链下 游主要应用于 ...

Core Insights - Yuntianhua Group achieved over 35.5 billion yuan in revenue and over 3 billion yuan in profit for the first half of 2025, demonstrating steady progress and improved quality and efficiency [1] Group 1: Financial Performance - The company reported a stable performance with revenue exceeding 35.5 billion yuan and profit surpassing 3 billion yuan in the first half of 2025 [1] - The overall economic operation analysis indicates a resilient development trajectory for the company [1] Group 2: Operational Strategy - Yuntianhua Group implemented refined management practices and strengthened full-process control in production, leading to improvements in product quality and production efficiency [1] - The company actively responded to market changes by continuously iterating its global supply chain model, integrating industry, trade, logistics, and finance [1] Group 3: Market Positioning - The company deepened cooperation with domestic and international distributors, transitioning towards becoming an industry organizer [1] - Participation in international exhibitions such as the South China Agricultural Expo and the International Rubber and Plastics Exhibition enhanced brand influence and expanded sales channels [1] - Market share for the company's products steadily increased, contributing to the growth of brand value [1] Group 4: Industry Expansion - Leveraging its long-term technological advantages and market insights, Yuntianhua Group actively expanded into emerging sectors such as fine chemicals and new materials [1] - The company successfully developed and launched a series of high-performance, high-value-added products in the fine chemicals sector [1] - Breakthroughs in key technological bottlenecks in the new materials sector have effectively enhanced the company's competitiveness [1]

Core Viewpoint - The team at Yunnan Yuntianhua Co., Ltd. has successfully tackled the challenge of efficiently utilizing low-grade phosphate resources, significantly improving the recovery rate of phosphate from low-grade phosphate ore [2][3]. Group 1: Phosphate Resource Utilization - Yunnan Province has abundant phosphate resources, primarily low-grade phosphate ore, which has historically posed challenges in mining and utilization due to high impurity content and low recovery rates [2]. - The company established a dedicated research team focused on the flotation technology for low-grade phosphate ore, which has been working for over 11 years to enhance phosphate recovery rates [2][3]. - The research team developed new technologies for re-selecting tailings and flotation agents, achieving a phosphate recovery rate increase from 88% to 95%, setting a historical record for Yunnan's phosphate ore [2][3]. Group 2: Technological Advancements and Impact - The new technology has effectively addressed the technical bottlenecks in the development of low-grade phosphate ore, leading to improved comprehensive utilization of phosphate resources in Yunnan [3]. - The application of these technological advancements has been implemented across multiple phosphate mining plants, resulting in increased company revenue and significantly reduced tailings discharge, achieving social, corporate, environmental, and economic benefits [3]. - The research institute has established multiple research teams focusing on core technological innovations in phosphate and associated resource utilization, with over 1,050 patents and more than 200 research projects completed during the 14th Five-Year Plan period, including 12 projects reaching international advanced levels [5].