Financial Performance - The company achieved a consolidated net profit of CNY 6,042,751,816.39 for 2024, with a net profit attributable to the parent company of CNY 5,332,959,048.01[5] - The company's retained earnings at the end of 2023 were CNY 2,767,492,092.61, and after accounting for a 10% statutory surplus reserve, the cumulative distributable profit for shareholders at the end of 2024 is CNY 6,393,571,473.39[5] - A cash dividend of CNY 14 per 10 shares (including tax) is proposed, amounting to CNY 2,552,187,023.40, which represents 47.86% of the net profit attributable to shareholders for 2024[5] - The company achieved operating revenue of CNY 61.54 billion in 2024, a decrease of 10.89% compared to CNY 69.06 billion in 2023[22] - Net profit attributable to shareholders reached CNY 5.33 billion, representing a year-on-year increase of 17.93% from CNY 4.52 billion in 2023[22] - The basic earnings per share increased to CNY 2.91, up 17.75% from CNY 2.47 in 2023[22] - The weighted average return on equity rose to 26.21%, an increase of 0.32 percentage points from 25.89% in 2023[22] - The company maintained a strong cash flow from operating activities, generating CNY 10.75 billion, a 13.93% increase from CNY 9.44 billion in 2023[22] - The total assets decreased by 2.08% to CNY 51.48 billion compared to CNY 52.57 billion in 2023[22] Operational Efficiency - The company successfully overcame challenges such as fluctuations in raw material prices and declining product prices, achieving stable operational performance[30] - The production of key products like ammonia, phosphoric acid, and sulfuric acid reached historical highs, reflecting efficient production organization[31] - The company implemented advanced process control technology in 12 production units, enhancing operational efficiency and energy utilization[31] - The company achieved stable supply and cost reduction of key raw materials, including phosphate rock, synthetic ammonia, coal, and sulfur, through efficient supply chain operations[32] - The company has established a logistics operation system that includes multimodal transport and warehousing, aimed at reducing logistics costs[61] - The company has formed a "fertilizer-grain linkage" model to support fertilizer exports and expand international markets[60] Research and Development - The company is focusing on R&D in areas such as phosphate mining, fine phosphorus chemicals, and new energy materials, enhancing its technological reserves[34] - The company has established over 20 major research platforms, including the National Phosphorus Resource Development and Utilization Engineering Technology Center, enhancing its R&D capabilities[115] - The company is committed to enhancing the recovery rate of fluorine resources and developing high-value-added inorganic fluorides and fluorinated new materials[151] - The company plans to strengthen its research and development team and increase investment in R&D to improve product quality and diversify offerings in the polyoxymethylene sector[152] - The company is actively pursuing the development of new energy battery materials, particularly iron phosphate, to explore new profit growth points[155] Market Dynamics - The domestic phosphate fertilizer market remains stable, with prices relatively steady and an overall increase in operating rates[40] - The company produced 2.82 million tons of urea during the reporting period, with domestic urea market capacity growth outpacing demand, leading to a continuous decline in urea prices[43] - The company produced a total of 1.78 million tons of various compound fertilizers, with prices remaining stable overall despite fluctuations due to raw material prices and supply-demand dynamics[44] - The company’s production of feed-grade calcium phosphate was at full capacity, benefiting from a recovery in the livestock market and stable demand, resulting in increased sales prices compared to the previous year[47] - The company’s phosphoric acid production capacity increased, with a production of 100,000 tons per year, following a successful upgrade to continuous production methods, enhancing cost efficiency and product quality[50] Governance and Compliance - The company has established a systematic governance framework to clarify responsibilities among the board, shareholders, and management, enhancing operational efficiency[168] - The company implemented an information-based management system for major events, ensuring compliance with disclosure standards and timely reporting of significant matters[170] - The company aims to strengthen the governance of subsidiaries, particularly focusing on the management of external directors and supervisors, and ensuring compliance with the new Company Law[172] - The company has been recognized for its best practices in corporate governance, receiving multiple awards for its ESG initiatives and reporting[174] - The company has conducted thorough inspections of subsidiary governance, focusing on major information management and compliance with regulatory requirements[172] Strategic Initiatives - The company plans to expand its operational scope and revise its articles of association as part of its strategic initiatives[177] - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 1 billion yuan allocated for potential mergers[185] - The company aims to increase production capacity with a focus on the 4.5 million tons/year phosphate flotation project and improve product quality and stability[158] - The company is transitioning from traditional trade logistics to supply chain operations, integrating various flows to enhance value in fertilizer trade[154] - The company is focused on maintaining self-sufficiency in key raw materials like phosphate rock and ammonia to control costs effectively[162] Environmental and Safety Concerns - The company faces significant risks including safety and environmental risks, as well as market risks[9] - The company aims to achieve a zero fatality rate and zero pollution incidents by 2025, with a target of a ≤0.5 injury rate per thousand employees[156] - The company has implemented significant measures to address environmental compliance, resulting in improved water quality meeting discharge standards[133] - The company is facing challenges such as increasing environmental pressures and the need for transformation in fine chemicals and new energy materials[35] - The company anticipates market price volatility in the fertilizer and chemical sectors due to international uncertainties and is enhancing operational control to mitigate risks[161]

云南云天化股份有限公司 内部控制审计报告 众环审字(2025)1600147号 A/F Yangtze River Industry Ruildi No.166 Zhongbei Road, Wuhan,430077 姓 西 Fax: 027-85424320 内部控制审计报告 众环审字(2025)1600147 号 中审众于 合伙) 云南云天化股份有限公司全体股东: 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求,我们审计了云 南云天化股份有限公司(以下简称"云天化股份")2024年 12 月 31 日的财务报告内部控制 的有效性。 一、云天化股份对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控制评价指引》 的规定,建立健全和有效实施内部控制,并评价其有效性是云天化股份董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上,对财务报告内部控制的有效性发表审计意见, 并对注意到的非财务报告内部控制的重大缺陷进行披露。 三、内部控制的固有局限性 内部控制具有固有局限性,存在不能防止和发现错报的可能性。此外,由于情况的变化 可能导致内部控制变 ...

云南云天化股份有限公司 信息披露暂缓与豁免业务内部管理制度 （2025 年 3 月修订） 第一章 总则 第一条 为规范云南云天化股份有限公司（以下简称"公司"）信 息披露暂缓与豁免行为，根据《中华人民共和国证券法》《上海证券 交易所股票上市规则》（以下简称《股票上市规则》）《上海证券交 易所上市公司自律监管指引第 2 号——信息披露事务管理》等有关法 律法规，以及《云南云天化股份有限公司章程》《云南云天化股份有 限公司信息披露管理制度》（以下简称《信息披露管理制度》）的有 关规定，制定本制度。 第二条 公司及相关信息披露义务人根据《股票上市规则》及其 他相关业务规则的规定，办理信息披露暂缓、豁免业务的，适用本制 度。 第三条 公司自行审慎判断存在《股票上市规则》规定的暂缓、 豁免情形的应披露信息，对于存在《股票上市规则》及上海证券交易 所其他相关业务规则规定的暂缓、豁免情形的，公司可以对有关信息 披露暂缓、豁免披露。 （三）公司股票及其衍生品种的交易未发生异常波动。 第三章 信息披露暂缓、豁免事项的内部审核程序 第八条 公司应审慎确定信息披露暂缓、豁免事项，并按照公司 《重大信息内部报告制度》及《信息披露管理 ...

Core Viewpoint - The chemical sector is experiencing a price surge, particularly in the market for diisobutylene, with a notable increase of 17% in one week, leading to a doubling of stock prices for leading companies in this field [1]. Group 1: Price Trends and Market Dynamics - As of March 21, the market price for diisobutylene reached 63,000 yuan per ton, an increase of 9,000 yuan from March 14 [1]. - The price increase is driven by rising raw material costs, supply disruptions, and strong demand from the PCB sector [1]. - The market is characterized by a supply-demand imbalance, with no current spot supply of diisobutylene and a long order cycle, prompting downstream companies to actively stock up [1]. Group 2: Company Performance and Stock Movements - Multiple diisobutylene-related stocks saw significant price movements, with Zhongyida rising for 11 consecutive trading days, accumulating a total increase of over 117% since March 10 [1]. - Other companies such as Hubei Yihua and Jinhua Industrial also experienced stock price increases, with Hubei Yihua reaching a limit-up and Jinhua Industrial rising by 3.14% [1][4]. - Hubei Yihua has an annual production capacity of 60,000 tons for diisobutylene and is currently upgrading its production facilities [3]. Group 3: Production Capacity and Future Plans - Zhongyida's production capacity for diisobutylene is 43,000 tons annually, making it the second-largest in the industry [3]. - Jinhua Industrial has a production capacity of 20,000 tons per year and plans to adjust its product structure based on market demand [3]. - Yuntianhua produces diisobutylene along with other products, with production bases located in Yunnan and Chongqing [3].

2025 年第三次临时股东大会 会议资料 云南云天化股份有限公司 YUNNAN YUNTIANHUA CO.,LTD 2025 年第三次临时股东大会会议资料 目录 | 会议议程 3 | | --- | 议案一 关于重新审议公司 2025 年度日常关联交易事项的议案.......5 2 2025 年第三次临时股东大会会议资料 会议议程 （一）本次会议表决方法按照公司章程规定，与会股东及股东代 表对议案进行表决。 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。 （二）介绍会议议题、表决方式。 （三）推选表决结果统计的计票人、监票人。 四、宣读并审议以下议案 | 非累积投票议案 | | | | --- | --- | --- | | 序号 1 | 关于重新审议公司 2025 | 议案名称 年度日常关联交易事项的议案 | 五、 ...

重要内容提示： 股东大会召开日期：2025年3月28日 本次股东大会采用的网络投票系统：上海证券交易所股东大会 网络投票系统 证券代码：600096 证券简称：云天化 公告编号：临 2025-020 云南云天化股份有限公司 关于召开 2025 年第三次临时股东大会的通知 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。 一、召开会议的基本情况 （一）股东大会类型和届次 2025 年第三次临时股东大会 （二）股东大会召集人：董事会 （三）投票方式：本次股东大会所采用的表决方式是现场投票和 网络投票相结合的方式 （四）现场会议召开的日期、时间和地点 召开的日期时间：2025 年 3 月 28 日 09 点 00 分 召开地点：公司总部会议室 （五）网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2025 年 3 月 28 日 2. 特别决议议案：无 至 2025 年 3 月 28 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投 票时间为股东大会召开当日的交易 ...

证券代码：600096 证券简称：云天化 公告编号：临 2025-018 （二）6 票同意、0 票反对、0 票弃权，审议通过了《关于公司 组织机构调整的议案》。 为持续优化组织结构，提升组织效率，同意撤销公司装备技术中 心，原装备技术中心的相关职能由云南云天化工业装备技术有限公司 承接。 特此公告。 本公司监事会及全体监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。 一、监事会会议召开情况 云南云天化股份有限公司（以下简称"公司"）第九届监事会第 三十六次会议通知于 2025 年 3 月 2 日分别以送达、电子邮件等方式 通知全体监事及相关人员。会议于 2025 年 3 月 7 日以通讯表决的方 式召开。应当参与表决监事 6 人，实际参加表决监事 6 人，符合《公 司法》和《公司章程》的有关规定。 二、监事会会议审议情况 （一）6 票同意、0 票反对、0 票弃权，审议通过了《关于重新 审议公司 2025 年度日常关联交易事项的议案》。 云南云天化股份有限公司 第九届监事会第三十六次会议决议公告 云南云天化股份有限公司监事会 2025 年 3 月 ...

基础化工行业 行业研究 | 行业周报 国家/地区 中国 行业 基础化工行业 报告发布日期 2025 年 03 月 03 日 看好（维持） | 倪吉 | 021-63325888*7504 | | --- | --- | | | niji@orientsec.com.cn | | | 执业证书编号：S0860517120003 | | 顾雪莺 | guxueying@orientsec.com.cn | | | 执业证书编号：S0860523080005 | 寻找景气复苏的周期行业之十三：乙二醇 2025-01-23 站在新秩序的起点：化工行业 2025 年度投 资策略 2024-12-18 投资建议与投资标的 风险提示 ⚫ 项目进展不及预期；需求不及预期；海外销售不及预期；原材料价格大幅波动。 有关分析师的申明，见本报告最后部分。其他重要信息披露见分析师申明之后部分，或请与您的投资代表联系。并请阅读本证券研究报告最后一页的免责申明。 本周化肥产品持续涨价 ⚫ 我们监测的 188 种化工产品中，本周价格涨幅前 3 名的产品分别为硫酸（上涨 16.6%）、硫磺（上涨 13.4%）、氯化钾（上涨 11.2%）；跌幅 ...