Core Viewpoint - Despite the global economic slowdown, the domestic Chlorinated Polyethylene (CPE) industry has maintained production growth, with a production volume of 287,800 tons in the first half of 2025, representing a year-on-year increase of 1.25% [1][7]. Industry Overview - Chlorinated Polyethylene (CPE) is a high polymer material produced by chlorination modification of high-density polyethylene (HDPE), with chlorine content typically between 25% and 70% [2]. - CPE is widely used in various fields such as plastics, rubber, and coatings [2]. Industry Status - The growth in CPE production is attributed to the promotion of continuous chlorination technology, which has increased single-line production capacity by 30% and significantly improved production efficiency [1][7]. - The stable demand from traditional applications such as building waterproof materials and automotive seals has helped the industry counter external pressures through intelligent upgrades and green process iterations [1][7]. Consumption and Market Dynamics - In the first five months of 2025, China's CPE consumption reached 370,800 tons, a year-on-year increase of 5.71%, driven by ongoing investments in infrastructure [9]. - The construction sector remains the largest consumer of CPE, with stable demand for waterproof membranes and sealing strips, particularly influenced by green building policies [9]. Price and Production Capacity - By the end of June 2025, CPE prices fell to 7,078 yuan per ton, a year-on-year decrease of 12.44%, primarily due to fluctuations in international oil prices and increased chlorine production capacity in the northwest region [11][13]. - The CPE industry’s operating rate in June 2025 was 53.44%, a decrease of 2.63 percentage points month-on-month, reflecting reduced demand in the traditional construction off-season [13]. Key Enterprises - The CPE industry is characterized by a "leading enterprises dominate, small and medium-sized enterprises differentiate" competitive landscape [15]. - Hangzhou Keli Chemical, with a production capacity of 200,000 tons/year, focuses on high-end specialty CPE and holds over 30% market share in niche areas such as 5G base station casings and photovoltaic film [15]. - Shandong Weifang Yaxing Chemical, established in 1994, utilizes a unique hydrochloric acid phase suspension method for CPE production, achieving lower energy consumption and waste discharge compared to traditional methods [16]. Industry Development Trends - The CPE industry is expected to move towards more environmentally friendly and recyclable production methods, reducing harmful additives and improving waste management [20]. - There will be a greater emphasis on optimizing product performance and expanding application areas, particularly in emerging fields such as renewable energy and aerospace [21]. - Smart manufacturing and digital transformation are anticipated to become significant trends, enhancing production efficiency and product quality through automation and data analysis [22][23].

Group 1 - The recent surge in commodity futures prices has attracted widespread market attention, with polysilicon contracts reaching over 50,000 yuan/ton, marking a more than 70% increase from late June [1] - Coking coal contracts also showed strong performance, closing at over 1,100 yuan/ton, reflecting a rebound of over 50% from early June [1] - Other commodities such as industrial silicon and coke have also seen significant price increases, with industrial silicon surpassing 10,000 yuan/ton, a nearly 50% rise since early June [2] Group 2 - The central government's recent meeting emphasized addressing key challenges, including regulating low-price competition and promoting integrated development of domestic and foreign trade [2] - Analysts attribute the commodity price surge to a combination of economic recovery expectations, supply rigidity, and liquidity premiums, with both the US and China manufacturing PMIs returning to expansion territory [2] - The chemical industry is expected to see a recovery in the second half of 2025, driven by reduced capital expenditure and a resurgence in domestic demand [3] Group 3 - Companies with market capitalizations below 10 billion yuan and institutional ratings include those in the pig farming, coal, glass, and organic silicon sectors [3] - Yaxing Chemical, with a market cap of approximately 2.644 billion yuan, specializes in chlorinated polyethylene and other chemical products [4] - Dongrui Co., a modern agricultural enterprise, operates a full industry chain in pig farming, while Beibo Co. focuses on glass deep processing equipment [4]

证券代码：600319 证券简称：亚星化学 公告编号：2025-037 潍坊亚星化学股份有限公司 2025年第三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 7 月 14 日 (二)股东大会召开的地点：山东省潍坊市奎文区北宫东街 321 号亚星大厦 (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 | 205 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 142,525,682 | | 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 | | | 份总数的比例（%） | 36.7609 | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议由公司董事会召集，现场会议由公司董事长韩海滨先生主持。会议 采用现场投票和网络投票相结合的表决方式。本次会议的召集、召开及表决 ...

山东众成清泰（潍坊）律师事务所 关 于 潍坊亚星化学股份有限公司 2025 年第三次临时股东大会 的 法律意见书 山东众成清泰（潍坊）律师事务所 中国•潍坊 寒亭区北海路 3777 号总部基地东区 20 号楼 邮政编码：261100 电话：86-532-88959698 传真：86-532-88959698 网址：www.jointide.com 1 山东众成清泰（潍坊）律师事务所 关于潍坊亚星化学股份有限公司 2025 年第三次临时股东大会的 法律意见书 致：潍坊亚星化学股份有限公司 山东众成清泰（潍坊）律师事务所（以下称"本所"）接受潍坊亚星化学股份 有限公司（以下称"贵公司"）的委托，根据《中华人民共和国公司法》（以下称 "《公司法》"）、《中华人民共和国证券法》（以下称"《证券法》"）、中国证 券监督管理委员会《上市公司股东会规则》（以下称"《股东会规则》"）、《上 海证券交易所上市公司自律监管指引第 1 号——规范运作》（以下称"《自律监 管指引第 1 号文件》"）等法律、法规、规范性文件的规定及《潍坊亚星化学股 份有限公司章程》（以下称"《公司章程》"）的有关规定，就贵公司 2025 年第 三次临 ...

Core Viewpoint - The legal opinion letter confirms that the convening and holding procedures of the 2025 third extraordinary general meeting of shareholders of Weifang Yaxing Chemical Co., Ltd. comply with relevant laws and regulations, and the resolutions made during the meeting are valid and legal [1][6]. Group 1: Meeting Procedures - The extraordinary general meeting was convened based on a resolution made by the company's board of directors on June 27, 2025, and shareholders were notified 16 days prior to the meeting [3][4]. - The meeting was held on July 14, 2025, at the specified location and time, and also conducted through an online voting system [4][5]. - The notice of the meeting included essential details such as the time, location, convenor, and agenda, which were consistent with the actual meeting proceedings [4][5]. Group 2: Attendance and Voting - A total of 205 shareholders participated in the meeting, representing 142,525,682 shares, which is 36.76% of the total share capital [5]. - Among the attendees, one shareholder represented 135,948,181 shares (35.06%), while 204 shareholders participated via online voting, representing 6,577,501 shares [5]. - The voting process was conducted according to the announced procedures, with no items being postponed or omitted from voting [5]. Group 3: Voting Results - The meeting passed one resolution with 140,604,081 shares in favor, accounting for 98.65% of the valid votes cast [5]. - Among minority shareholders, 4,655,900 shares supported the resolution, representing 70.79% of the valid votes from that group [5]. - The voting results and procedures adhered to the relevant legal and regulatory requirements, confirming the legitimacy of the resolutions [5][6].

[Current Period Performance Forecast](index=1&type=section&id=Item%201.%20Current%20Period%20Performance%20Forecast) The company forecasts a net loss for the first half of 2025, with preliminary unaudited estimates for net profit attributable to owners of the parent company ranging from -98.53 million CNY to -94.53 million CNY Forecasted Performance Range | Indicator | Forecasted Amount Range (million CNY) | | :--- | :--- | | Net Profit Attributable to Owners of the Parent Company | -98.53 to -94.53 | | Net Profit Attributable to Owners of the Parent Company After Deducting Non-Recurring Gains and Losses | -97.94 to -93.94 | - The performance forecast data has not been audited by a certified public accountant[4](index=4&type=chunk) [Comparison with Prior Period Performance](index=1&type=section&id=Item%202.%20Comparison%20with%20Prior%20Period%20Performance%20and%20Financial%20Status) The company anticipates an expanded loss for the first half of 2025 compared to the same period in 2024, which recorded a net loss of **62.40 million CNY** attributable to owners of the parent company - Compared to the prior year, both the forecasted net profit attributable to owners of the parent company and the non-recurring net profit for H1 2025 indicate an expanding loss trend[3](index=3&type=chunk)[5](index=5&type=chunk) 2024 H1 Performance Data | Indicator | 2024 H1 Amount | | :--- | :--- | | Total Profit | -62.75 million CNY | | Net Profit Attributable to Owners of the Parent Company | -62.40 million CNY | | Net Profit Attributable to Owners of the Parent Company After Deducting Non-Recurring Gains and Losses | -67.01 million CNY | | Earnings Per Share | -0.16 CNY | [Analysis of Forecasted Loss Reasons](index=1&type=section&id=Item%203.%20Main%20Reasons%20for%20Current%20Period%20Forecasted%20Loss) The company attributes the current period's loss to persistently low product prices driven by macroeconomic conditions and intense industry competition, alongside high financial expenses from significant financing for new projects - External market pressure: Product sales prices remain low due to the macroeconomic environment and intensified industry competition[7](index=7&type=chunk) - Internal cost increase: High financial expenses resulted from financing for new projects, including PVDC construction[7](index=7&type=chunk) - Stable operations: Despite the loss, the production and sales volumes of the company's main products remained largely consistent with the prior year[7](index=7&type=chunk) [Risk Warning and Other Disclosures](index=2&type=section&id=Item%204.%20Risk%20Warning) The company emphasizes that this preliminary, unaudited performance forecast has no significant uncertainties affecting its accuracy, with final financial data subject to the official 2025 semi-annual report - This performance forecast represents a preliminary calculation by the company's finance department based on its professional judgment and has not been audited by a certified public accountant[8](index=8&type=chunk) - The company states there are no significant uncertainties that would impact the accuracy of this performance forecast[8](index=8&type=chunk) - Final financial data will be based on the company's officially disclosed 2025 semi-annual report, advising investors to be aware of investment risks[9](index=9&type=chunk)

Core Viewpoint - The company is seeking shareholder approval for a proposal regarding its subsidiary, Weifang Yaxing New Materials Co., Ltd., to apply for a project loan of 490 million RMB from a banking consortium and to provide a guarantee for this loan [1][5][6] Group 1: Meeting Details - The third extraordinary general meeting of shareholders is scheduled for July 14, 2025, at 14:00, with a registration date of July 7, 2025 [1] - The meeting will be held at the company's conference room in Weifang, Shandong Province, and will include both on-site and online voting [1][2] Group 2: Loan and Guarantee Proposal - The subsidiary plans to apply for a total loan of 490 million RMB, with contributions from Qingdao Bank (250 million RMB), Rizhao Bank (150 million RMB), and Weihai Bank (90 million RMB), with a maximum term of 5 years and an annual interest rate not exceeding 5% [1][5] - The company will provide a credit guarantee for the loan, with the guarantee amount not exceeding 490 million RMB, and no counter-guarantee measures will be taken [1][5][6] Group 3: Subsidiary Financial Overview - Weifang Yaxing New Materials Co., Ltd. has total assets of approximately 1.89 billion RMB and total liabilities of approximately 1.42 billion RMB, resulting in a net asset value of approximately 474 million RMB [4] - The subsidiary reported an operating income of approximately 97.64 million RMB and a net loss of approximately 20.56 million RMB for the most recent period [4] Group 4: Necessity and Reasonableness of Guarantee - The guarantee is deemed necessary to ensure the smooth operation of the subsidiary and the successful launch of new projects, such as PVDC [5][6] - The company maintains control over the subsidiary's operations and finances, which justifies the provision of the guarantee without proportional support from other shareholders [5][6] Group 5: Independent Director Election - The company is proposing the election of a new independent director, Qi Zhiwen, following the resignation of the previous independent director due to personal reasons [6][7] - The election will utilize a cumulative voting system, and the new director will also take on multiple committee roles within the board [7]

潍坊亚星化学股份有限公司 2025 年第三次临时股东大会会议资料 （2025 年 7 月 14 日） 股票代码:600319 股票简称:亚星化学 潍坊亚星化学股份有限公司 2025 年第三次临时股东大会会议资料 目 录 | 潍坊亚星化学股份有限公司 2025 年第三次临时股东大会会议议程 2 | | --- | | 股东大会议案一：潍坊亚星化学股份有限公司关于子公司向银行申请项目贷款并为其 | | 提供担保的议案 3 | | 股东大会议案二：潍坊亚星化学股份有限公司关于选举独立董事的议案 6 | 1 潍坊亚星化学股份有限公司 2025 年第三次临时股东大会会议资料 潍坊亚星化学股份有限公司 2025 年第三次临时股东大会会议议程 一、会议时间： 现场会议：2025 年 7 月 14 日 14：00 网络投票：通过交易系统投票平台的投票时间为 2025 年 7 月 14 日 9:15- 9:25，9:30-11:30，13:00-15:00；通过互联网投票平台的投票时间为 2025 年 7 月 14 日 9:15-15:00。 二、会议地点：山东省潍坊市奎文区北宫东街 321 号潍坊亚星化学股份有 限公司会议室 ...

Group 1 - The company announced an increase in temporary proposals for the third extraordinary general meeting of shareholders scheduled for July 14, 2025 [1][2] - The proposal was submitted by a shareholder holding 35.06% of the shares, specifically the Weifang Urban Construction Development Investment Group Co., Ltd [1][2] - The original notice of the shareholders' meeting remains unchanged aside from the additional temporary proposal [2] Group 2 - The meeting will take place at 14:00 on July 14, 2025, at the company's headquarters located at 321 Beigong East Street, Kuiwen District, Weifang, Shandong Province [2] - Online voting will be conducted through the Shanghai Stock Exchange's shareholder meeting voting system, available from 9:15 to 15:00 on the day of the meeting [2] - The original share registration date for the shareholders' meeting remains unchanged [2]

Core Viewpoint - The Nomination Committee of Weifang Yaxing Chemical Co., Ltd. has reviewed the qualifications of the independent director candidate, Qi Zhiwen, and concluded that he meets all legal and regulatory requirements for the position [1]. Summary by Relevant Sections - **Qualifications Review**: The Nomination Committee confirms that the candidate's qualifications comply with relevant laws, regulations, and normative documents, and there are no disqualifying circumstances [1]. - **Regulatory Compliance**: The candidate has not been subject to any market entry bans by the China Securities Regulatory Commission (CSRC) or recognized as unsuitable by the stock exchange, and has not faced administrative penalties or public reprimands in the last three years [1]. - **Legal Standing**: There are no ongoing criminal investigations or violations under investigation by the CSRC against the candidate, and he has no significant dishonesty or other disqualifying records [1]. - **Final Recommendation**: The committee agrees to nominate Qi Zhiwen as an independent director candidate for the ninth board of directors, submitting this recommendation for board review [1].