Group 1 - The core point of the article is that Wanhua Chemical held its second board meeting of 2025 on August 9, 2025, where it reviewed the proposal regarding changes in the members of the Strategic Committee [1] - For the first half of 2025, Wanhua Chemical's revenue composition was as follows: 98.88% from chemical raw materials and chemical manufacturing, 0.72% from other industries, and 0.4% from other businesses [1] - As of the report date, Wanhua Chemical's market capitalization was 192.4 billion yuan [1]

Core Viewpoint - Wanhua Chemical (600309.SH) reported a decline in revenue and net profit for the first half of 2025, indicating challenges in the market due to tariff policies and price pressures in the petrochemical sector [1] Group 1: Financial Performance - The company achieved a revenue of 90.901 billion yuan, a year-on-year decrease of 6.35% [1] - Net profit attributable to shareholders was 6.123 billion yuan, down 25.1% year-on-year [1] - The non-recurring net profit was 6.244 billion yuan, reflecting a decline of 22.9% year-on-year [1] - Basic earnings per share stood at 1.95 yuan [1] Group 2: Business Segments - In the polyurethane segment, the company effectively stabilized the market through strategic decision-making and expanded its global marketing presence to 28 locations, enhancing local operations [1] - In the petrochemical segment, the company responded to market changes by balancing production and sales, focusing on optimizing capacity utilization to improve profitability amid price pressures [1] - In the fine chemicals and new materials segment, the company advanced its global layout in ADI business, successfully launched MS resin production, and integrated the vitamin A supply chain into both animal and human nutrition sectors [1]

Core Viewpoint - Wanhua Chemical Group Co., Ltd. reported a decline in revenue and profit for the first half of 2025, with total revenue of approximately 90.90 billion yuan, a decrease of 6.35% compared to the same period last year, and a net profit attributable to shareholders of approximately 6.12 billion yuan, down 25.10% year-on-year [1][2][3]. Company Overview and Financial Indicators - The company’s total assets reached approximately 315.96 billion yuan, an increase of 7.71% from the end of the previous year [2]. - The net assets attributable to shareholders were approximately 99.75 billion yuan, reflecting a growth of 5.42% compared to the previous year [2]. - The basic earnings per share decreased to 1.95 yuan, down 25.00% from 2.60 yuan in the same period last year [2][3]. Business Segment Analysis - The polyurethane segment experienced stable global demand, particularly in the new energy and high-end manufacturing sectors, driven by the lightweight requirements of electric vehicles [3]. - The petrochemical segment faced challenges due to an oversupply of products, leading to lower prices and reduced profit margins [3]. - The fine chemicals and new materials segment showed stable growth, supported by national policies and demand from emerging industries [3]. Operational Highlights - The company expanded its global marketing network to 28 locations, enhancing local operations and supply chain efficiency [3]. - Significant improvements were made in production efficiency, including the successful startup of a new ethylene plant, which is expected to lower production costs [3][4]. - The company implemented cost control measures across its operations, including optimizing supply chain management and reducing operational costs [4]. Research and Development - Wanhua Chemical continued to invest in R&D, focusing on new MDI technology and expanding its product lines in high-value segments such as battery materials and specialty chemicals [4][5]. - The company achieved breakthroughs in various technologies, including the successful mass production of fourth-generation lithium iron phosphate [4][5]. Investment and Financial Management - The company reported a net cash flow from operating activities of approximately 10.53 billion yuan, reflecting a 2.30% increase year-on-year [2][3]. - Total investment activities resulted in a net cash outflow of approximately 17.79 billion yuan, a decrease of 10.32% compared to the previous year [3][4]. - The company’s financial expenses decreased significantly by 46.09% due to increased foreign exchange gains [3][4].

万华化学集团股份有限公司2025 年半年度报告摘要 公司代码：600309 公司简称：万华化学 万华化学集团股份有限公司 万华化学集团股份有限公司2025 年半年度报告摘要 第一节 重要提示 况及未来发展规划，投资者应当到上海证券交易所网站 www.sse.com.cn 网站仔细阅 读半年度报告全文。 性、准确性、完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带 的法律责任。 不适用 第二节 公司基本情况 公司股票简况 股票种类 股票上市交易所 股票简称 股票代码 变更前股票简称 A股 上海证券交易所 万华化学 600309 烟台万华 联系人和联系方式 董事会秘书 证券事务代表 姓名 李立民 肖明华 电话 0535-3031588 0535-3031588 办公地址 烟台市经济技术开发区三亚路3号 烟台市经济技术开发区三亚路3号 电子信箱 lmli@whchem.com mhxiao@whchem.com 单位：元 币种：人民币 本报告期末比上年度末 本报告期末 上年度末 增减(%) 总资产 315,955,471,005.95 293,333,349,744.25 7.71 归属于上市公司股东 ...

证券代码：600309 证券简称：万华化学 公告编号：临 2025-47 号 万华化学集团股份有限公司 第九届董事会 2025 年第二次会议决议公告 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个别及连带责任。 重要内容提示： ? 公司应出席的董事11人，实际出席会议的董事人数11人。 一、董事会会议召开情况 （一）本次董事会会议的召开符合有关法律、行政法规、部门规章、规范性 文件和公司章程的规定。 （二）本次董事会于 2025 年 8 月 1 日以电子通讯的方式发出董事会会议通 知及材料。 （三）本次董事会于 2025 年 8 月 9 日在公司三楼会议室采用现场方式召开。 （四）本次董事会会议应出席的董事 11 人，实际出席会议的董事人数 11 人。 （五）会议由公司董事长廖增太先生主持，公司部分高管及监事列席会议。 二、董事会会议审议情况 （一）审议通过《万华化学集团股份有限公司 2025 年半年度报告》，同意票 公司审计及合规管理委员会审议通过本项议案，并同意提交公司第九届董事 会 2025 年第二次会议审议。 （二）审议通过《 ...

Core Viewpoint - Wanhua Chemical Group Co., Ltd. reported its key operating data for the first half of 2025, highlighting sales revenue and production figures across its main product lines [1]. Group 1: Main Products Performance - The total sales revenue from main products and trading reached 34.93 billion yuan, while the fine chemicals and new materials series generated sales revenue of 15.63 billion yuan [1]. - The production and sales figures for major products are as follows: - Polyurethane series: 2.98 million tons produced - Petrochemical series: 2.95 million tons produced, with 2.85 million tons sold - Fine chemicals and new materials series: 1.24 million tons produced, with 1.19 million tons sold [2]. Group 2: Price Fluctuations of Main Products - The average market price for pure MDI products was approximately 18,800 yuan/ton, reflecting weak downstream demand - The average market price for polymer MDI products was around 16,700 yuan/ton, impacted by weak demand in the construction industry and export order declines due to tariff policies - TDI products maintained an average market price of 12,400 yuan/ton, supported by growth in the automotive sector, while soft foam polyether products averaged 7,800 yuan/ton [2]. Group 3: Price Changes of Raw Materials - The average price of CP was 594 USD/ton, showing a decrease of 3.10% compared to the same period last year - Other raw material prices included: - Shandong acrylic acid at 7,113 yuan/ton, up 14.86% year-on-year - Shandong acrylic ester at 8,741 yuan/ton, down 5.85% year-on-year - Various other raw materials experienced price declines ranging from 6.75% to 20.17% [3]. Group 4: Significant Events - There were no other significant events during the reporting period that impacted the company's production and operations [3].

万华化学集团股份有限公司 期纸货套期保值业务管理制度 第一章 总则 第一条 为规范万华化学集团股份有限公司（以下简称"公司"或"集团"） 及下属子公司套期保值业务，控制套期保值业务风险，同时充分发挥套期保值 功能，利用境内期货、境外纸货的套期保值功能，防范和规避市场价格波动风 险，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》《上海 证券交易所上市公司自律监管指引第 5 号——交易与关联交易》以及《公司章 程》及相关管理制度，参照《关于切实加强金融衍生业务管理有关事项的通知》 （国资发财评规〔2020〕8 号）、《关于进一步加强金融衍生业务管理有关事 项的通知》（国资厅发财评〔2021〕17 号）等相关规范性文件的规定，结合公 司实际情况，制订本制度。 第二条 本制度适用于万华化学集团股份有限公司及下属子公司开展的套 期保值业务及风险管控过程。 第三条 套期保值：在现货市场和期纸货市场对同一种类的商品同时进行 数量相等但方向相反的买卖活动，即在买进或卖出实货的同时，在期纸货市场 上卖出或买进同等数量的期纸货，经过一段时间，当价格变动使现货买卖上出 现盈亏时，可由期纸货交易上的亏盈得到抵消或弥补。从 ...

万华化学（SH 600309，收盘价：61.46元）8月11日晚间发布半年度业绩报告称，2025年上半年营业收 入约909.01亿元，同比减少6.35%；归属于上市公司股东的净利润约61.23亿元，同比减少25.1%；基本 每股收益1.95元，同比减少25%。 （文章来源：每日经济新闻） ...

证券代码：600309 证券简称：万华化学 公告编号：临 2025-48 号 万华化学集团股份有限公司 2025年半年度主要经营数据公告 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个别及连带责任。 根据《上海证券交易所上市公司自律监管指引第 3 号——行业信息披露》之《第 十三号——化工》的相关规定，现将万华化学集团股份有限公司 2025 年半年度主要 经营数据披露如下： 一、主要产品的产量、销量及收入实现情况 2025 年上半年公司聚氨酯系列产品实现销售收入 3,688,779 万元，石化系列产 品和贸易实现销售收入 3,493,356 万元，精细化学品及新材料系列产品实现销售收 入 1,562,807 万元。 | 主要产品 | 产量（万吨） | 销量（万吨） | | --- | --- | --- | | 聚氨酯系列 | 298 | 303 | | 石化系列 | 295 | 285 | | 精细化学品及新材料系列 | 124 | 119 | 注：以上销量为各系列产品产量对应的销售量，包含产品系列之间的内部使用量。 二、主要产品和 ...

证券代码：600309 证券简称：万华化学 公告编号：临 2025-47 号 万华化学集团股份有限公司 第九届董事会 2025 年第二次会议决议公告 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个别及连带责任。 重要内容提示： 公司应出席的董事11人，实际出席会议的董事人数11人。 一、董事会会议召开情况 （一）本次董事会会议的召开符合有关法律、行政法规、部门规章、规范性 文件和公司章程的规定。 （二）本次董事会于 2025 年 8 月 1 日以电子通讯的方式发出董事会会议通 知及材料。 （三）本次董事会于 2025 年 8 月 9 日在公司三楼会议室采用现场方式召开。 （四）本次董事会会议应出席的董事 11 人，实际出席会议的董事人数 11 人。 （五）会议由公司董事长廖增太先生主持，公司部分高管及监事列席会议。 二、董事会会议审议情况 （一）审议通过《万华化学集团股份有限公司 2025 年半年度报告》，同意票 11 票，反对票 0 票，弃权票 0 票。 公司审计及合规管理委员会审议通过本项议案，并同意提交公司第九届董事 会 202 ...