Financial Performance - Q3 2025 revenue was CNY 213.11 million, a decrease of 1.81% compared to the same period last year[4] - Total profit for Q3 2025 was a loss of CNY 47.54 million, with a year-to-date loss of CNY 144.14 million[4] - Net profit attributable to shareholders for Q3 2025 was a loss of CNY 47.39 million, with a year-to-date loss of CNY 143.92 million[4] - Basic and diluted earnings per share for Q3 2025 were both CNY -0.12, with a year-to-date figure of CNY -0.37[5] - Total revenue for the first three quarters of 2025 was CNY 641,093,053.04, a decrease of 2.54% compared to CNY 657,760,384.42 in the same period of 2024[21] - Net loss for the first three quarters of 2025 was CNY 144,346,492.95, compared to a net loss of CNY 99,039,781.75 in the same period of 2024, representing a 45.7% increase in losses[22] - Operating profit for the first three quarters of 2025 was CNY -143,594,413.62, worsening from CNY -105,716,489.12 in the previous year[22] - Total comprehensive income for the period was -144,346,492.95 RMB, compared to -99,039,781.75 RMB in the same period last year, indicating a decline of approximately 45.7%[23] - Basic and diluted earnings per share were both -0.37 RMB, compared to -0.25 RMB in the previous year, reflecting a decrease of 48%[23] Assets and Liabilities - Total assets increased by 15.00% to CNY 2.74 billion compared to the end of the previous year[5] - Total assets amounted to CNY 2,742,151,020.00, up from CNY 2,384,490,644.30, reflecting a growth of 15.03%[19] - Total liabilities increased to CNY 2,334,954,647.43, compared to CNY 1,832,947,778.78, marking a rise of 27.4%[18] - Non-current assets totaled CNY 2,393,482,302.62, an increase from CNY 1,950,203,414.39, representing a growth of 22.7%[19] - Current liabilities reached CNY 1,772,100,992.31, up from CNY 1,565,124,312.98, indicating a rise of 13.2%[18] - The company reported a significant increase in other payables, which rose to CNY 280,904,679.48 from CNY 78,452,949.74, reflecting a growth of 258.5%[18] Cash Flow - Cash flow from operating activities was a net outflow of CNY 50.90 million year-to-date[5] - Cash inflows from operating activities totaled 519,563,917.16 RMB, down from 594,417,873.79 RMB, representing a decrease of about 12.5%[26] - Cash outflows from operating activities amounted to 570,467,670.16 RMB, compared to 609,518,454.03 RMB, showing a reduction of approximately 6.4%[26] - The net cash flow from operating activities was -50,903,753.00 RMB, worsening from -15,100,580.24 RMB in the previous year[26] - Cash inflows from financing activities reached 1,514,668,000.00 RMB, an increase from 842,575,000.00 RMB, marking an increase of about 79.5%[28] - The net cash flow from financing activities was 294,227,040.46 RMB, compared to 72,029,147.07 RMB, indicating a significant improvement[28] - The ending cash and cash equivalents balance was 8,153,085.34 RMB, down from 33,593,807.86 RMB, reflecting a decrease of approximately 75.7%[28] - The company received 1,049,700,000.00 RMB in cash from borrowings, which is an increase from 707,375,000.00 RMB, representing a growth of about 48.3%[28] - The company reported a cash outflow of 927,724,457.18 RMB for debt repayment, compared to 630,445,393.53 RMB, indicating an increase of approximately 47.2%[28] Shareholder Information - The total number of common shareholders at the end of the reporting period is 14,785[11] - The largest shareholder, Weifang Urban Construction Development Investment Group Co., Ltd., holds 112,115,384 shares, accounting for 28.92% of the total shares[11] - The second-largest shareholder, Weifang Yaxing Group Co., Ltd., holds 23,832,797 shares, representing 6.15% of the total shares[11] Projects and Developments - The company is advancing the construction of a 45,000-ton high-end new material (PVDC) project, expected to commence production in Q4 2025[13] - The company is also working on a 500-ton/year hexachlorocyclotriphosphazene and a 500-ton/year benzyl chloride ammonium industrialization project, both set to start production in Q4 2025[13] - The company has completed the mid-term process for a 12,000-ton/year hydrazine hydrate production project, with industrial design currently in progress[13] - The company has approximately 1.17 billion RMB in relocation compensation that has not yet been disbursed[14]

Market Overview - The chemical raw materials sector experienced a decline of 1.62% on October 13, with Satellite Chemical leading the drop [1] - The Shanghai Composite Index closed at 3889.5, down 0.19%, while the Shenzhen Component Index closed at 13231.47, down 0.93% [1] Stock Performance - Notable gainers in the chemical raw materials sector included: - *ST Asia Pacific: Closed at 12.55, up 5.02% with a trading volume of 285,800 shares and a turnover of 339 million yuan - Huarong Chemical: Closed at 11.71, up 4.27% with a trading volume of 217,400 shares and a turnover of 251 million yuan - Xutian Salt Industry: Closed at 6.13, up 4.07% with a trading volume of 389,000 shares and a turnover of 233 million yuan [1] - Conversely, significant decliners included: - Satellite Chemical: Closed at 18.84, down 4.61% with a trading volume of 672,900 shares and a turnover of 1.257 billion yuan - Luxi Chemical: Closed at 14.10, down 4.02% with a trading volume of 313,800 shares and a turnover of 441 million yuan - Baofeng Energy: Closed at 17.60, down 3.40% with a trading volume of 675,500 shares and a turnover of 1.191 billion yuan [2] Capital Flow - The chemical raw materials sector saw a net outflow of 467 million yuan from institutional investors, while retail investors experienced a net inflow of 486 million yuan [2] - Detailed capital flow for selected stocks showed: - Zhongke Titanium White: Net inflow of 64.89 million yuan from institutional investors, with a net outflow of 90.82 million yuan from retail investors [3] - Proposal Co.: Net inflow of 38.51 million yuan from institutional investors, with a net outflow of 10.74 million yuan from retail investors [3]

证券代码：600319 证券简称：亚星化学 编号：临2025-045 潍坊亚星化学股份有限公司 关于公司办理融资租赁业务的公告 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: ●潍坊亚星化学股份有限公司（以下简称"公司"或"亚星化学"）本次拟开 展融资租赁业务的额度为不超过人民币4,600万元； ●本次交易已经公司第九届董事会第十七次会议审议通过，无需提交公司股东会审议； ●本次融资租赁事项不构成关联交易，亦不属于《上市公司重大资产重组管理 办法》规定的重大资产重组情形。 一、融资租赁情况概述 公司于2025年10月9日召开第九届董事会第十七次会议，以9票同意，0票反 对，0票弃权，审议通过了《关于公司办理融资租赁业务的议案》。为补充生产 经营资金，公司用自有的化工生产设备资产作为租赁物，以售后回租方式向山东 省财金融资租赁有限公司（以下称"省财金租赁"）办理融资租赁业务，融资金 额合计不超过人民币4,600万元，租赁期限36个月，融资综合成本年化利率约6.3%， 实际成本以合同约定为准。本次开展融资租赁业务审 ...

Market Overview - On September 29, the chemical raw materials sector rose by 1.58%, with Shilong Industrial leading the gains [1] - The Shanghai Composite Index closed at 3862.53, up 0.9%, while the Shenzhen Component Index closed at 13479.43, up 2.05% [1] Stock Performance - Shilong Industrial (002748) closed at 10.16, with a gain of 9.96% and a trading volume of 129,000 shares, amounting to a turnover of 127 million yuan [1] - Sanxiang New Materials (603663) closed at 28.90, up 7.20%, with a trading volume of 207,400 shares and a turnover of 581 million yuan [1] - Other notable performers include: - Shanshui Technology (301190) at 66.99, up 5.04% [1] - ST Yatai (000691) at 11.82, up 4.97% [1] - Aok Holdings (300082) at 7.83, up 4.96% [1] Fund Flow Analysis - The chemical raw materials sector experienced a net outflow of 116 million yuan from institutional investors, while retail investors saw a net inflow of 143 million yuan [2] - The detailed fund flow for key stocks includes: - Shilong Industrial: Net inflow of 48.34 million yuan from institutional investors [3] - Sanxiang New Materials: Net inflow of 31.95 million yuan from institutional investors [3] - Zhongke Titanium White (002145): Net inflow of 31.74 million yuan from institutional investors [3]

Market Overview - On September 15, the chemical raw materials sector declined by 0.16% compared to the previous trading day, with Zhenhua Co., Ltd. leading the decline [1] - The Shanghai Composite Index closed at 3860.5, down 0.26%, while the Shenzhen Component Index closed at 13005.77, up 0.63% [1] Stock Performance - Notable gainers in the chemical raw materials sector included: - Longbai Group (002601) with a closing price of 19.62, up 5.09% and a trading volume of 667,300 shares, totaling 1.314 billion yuan [1] - ST Yatai (000691) with a closing price of 7.81, up 4.97% and a trading volume of 101,400 shares, totaling 79.1972 million yuan [1] - Jinhai Titanium Industry (000545) with a closing price of 3.69, up 4.53% and a trading volume of 1,184,600 shares, totaling 435 million yuan [1] - Major decliners included: - Zhenhua Co., Ltd. (603067) with a closing price of 17.90, down 4.33% and a trading volume of 180,800 shares, totaling 329 million yuan [2] - Sanyou Chemical (600409) with a closing price of 5.78, down 3.02% and a trading volume of 368,900 shares, totaling 216 million yuan [2] - Jinniu Chemical (600722) with a closing price of 7.09, down 2.88% and a trading volume of 319,900 shares, totaling 228 million yuan [2] Capital Flow - The chemical raw materials sector experienced a net outflow of 398 million yuan from institutional investors, while retail investors saw a net inflow of 239 million yuan [2][3] - Notable capital flows included: - Huayi Group (600623) with a net inflow of 26.8479 million yuan from institutional investors [3] - Tianyuan Co., Ltd. (002386) with a net inflow of 25.0141 million yuan from institutional investors [3] - Xue Tian Salt Industry (600929) with a net inflow of 21.3913 million yuan from institutional investors [3]

Market Overview - On September 12, the chemical raw materials sector declined by 0.41%, with Dayang Bio leading the drop [1] - The Shanghai Composite Index closed at 3883.69, up 0.22%, while the Shenzhen Component Index closed at 12996.38, up 0.13% [1] Stock Performance - Notable gainers in the chemical raw materials sector included: - Zhenhua Co., Ltd. (603067) with a closing price of 18.59, up 4.97% [1] - ST Yatai (000691) with a closing price of 7.44, up 4.94% [1] - Shilong Industry (002748) with a closing price of 10.17, up 4.31% [1] - Major decliners included: - Dayang Bio (003017) with a closing price of 33.78, down 3.82% [2] - Sanyou Chemical (600409) with a closing price of 5.97, down 2.45% [2] - Kaisheng New Materials (301069) with a closing price of 23.12, down 2.41% [2] Capital Flow - The chemical raw materials sector experienced a net outflow of 209 million yuan from main funds, while retail funds saw a net inflow of 89.33 million yuan [2] - Key stocks with significant capital flow included: - Longbai Group (002601) with a main fund net inflow of 26.73 million yuan [3] - Zhongke Titanium White (002145) with a main fund net inflow of 25.74 million yuan [3] - Huayi Group (600623) with a main fund net inflow of 22.27 million yuan [3]

Market Overview - On September 9, the chemical raw materials sector declined by 0.5%, with Yaxing Chemical leading the drop [1] - The Shanghai Composite Index closed at 3807.29, down 0.51%, while the Shenzhen Component Index closed at 12510.6, down 1.23% [1] Stock Performance - Notable gainers in the chemical raw materials sector included: - Junzheng Group: closed at 5.60, up 7.07% with a trading volume of 6.54 million shares and a transaction value of 3.67 billion [1] - ST Yatai: closed at 6.43, up 5.07% with a trading volume of 6501.5 shares [1] - Huiyun Titanium Industry: closed at 10.55, up 4.98% with a trading volume of 445.2 thousand shares and a transaction value of 479 million [1] - Conversely, Yaxing Chemical saw a decline of 4.18%, closing at 8.25 with a trading volume of 132.5 thousand shares and a transaction value of 110 million [2] - Other notable decliners included: - Sanxiang New Materials: down 4.07% to 29.91 with a transaction value of 857 million [2] - Longbo Group: down 2.79% to 18.79 with a transaction value of 891 million [2] Capital Flow - The chemical raw materials sector experienced a net outflow of 277 million from institutional investors and 161 million from retail investors, while retail investors saw a net inflow of 437 million [2] - Specific stock capital flows indicated: - Junzheng Group had a net inflow of 3.86 million from institutional investors, while retail investors had a net outflow of 2.39 million [3] - Huiyun Titanium Industry saw a net inflow of 42.39 million from institutional investors but a net outflow of 68.96 million from retail investors [3] - Anada had a net inflow of 11.41 million from institutional investors, with retail investors experiencing a net outflow of 2.98 million [3]

Group 1 - The core viewpoint of the news is that Yaxing Chemical's stock has experienced significant fluctuations, with a year-to-date increase of 70.21% and recent trading activity showing a decline of 2.04% on September 3 [1] - As of June 30, Yaxing Chemical's shareholder count was 15,700, a decrease of 3.28% from the previous period, with an average of 20,098 circulating shares per person, an increase of 3.39% [2] - The company operates primarily in the chemical sector, focusing on the research, production, and sales of products such as caustic soda and CPE, with 99.86% of its revenue coming from chemical products [1][2] Group 2 - For the first half of 2025, Yaxing Chemical reported a revenue of 428 million yuan, a year-on-year decrease of 2.89%, and a net profit attributable to shareholders of -96.534 million yuan, a decline of 54.70% [2] - The company has not distributed any dividends in the last three years, with a total payout of 224 million yuan since its A-share listing [3]

Group 1 - The stock of Yaxing Chemical has experienced a significant increase, with three limit-up days within five trading days, resulting in a cumulative increase of 27.29% and a turnover rate of 21.52% [2] - As of 9:35 AM, the stock recorded a trading volume of 11.2979 million shares and a transaction amount of 103 million yuan, with a turnover rate of 2.91% [2] - The latest total market capitalization of the A-shares reached 3.617 billion yuan [2] Group 2 - The company's semi-annual report released on August 28 shows that it achieved total operating revenue of 428 million yuan in the first half of the year, a year-on-year decrease of 2.89%, and a net profit of -97 million yuan, a year-on-year decline of 54.70% [2] - The stock's daily performance over the past week indicates fluctuations, with notable changes in daily price and turnover rates, including a peak increase of 9.99% on August 29 [2]

1. Report Industry Investment Rating - No relevant information provided. 2. Core Viewpoints of the Report - The company is actively promoting a global strategy by investing up to $209 million in the "Saudi Red Sea Aluminum Industry Chain Comprehensive Project" in 2025, aiming to establish an aluminum industrial cluster and expand into European, North American, and Middle Eastern markets [27]. - The company is focusing on high - end product development, with significant increases in the sales volume and proportion of high - end products such as 3C consumer electronics profiles, automotive lightweight profiles, and aluminum rod cables in the first half of 2025 [27]. - The company has a leading position in the recycling and utilization of recycled aluminum, with plans to further expand its recycling capacity to over 2 million tons in the future [29]. - The company continues to invest in R & D, resulting in new authorized patents and participation in the development of materials for Xiaomi cars [29]. - The company holds a leading position in the aluminum rod cable industry, participating in national standard - setting and supplying products for major national projects [29][30]. 3. Summary by Relevant Catalogs 3.1. Research Basic Situation - The research object is Innovation New Materials, belonging to the commercial department store industry. The reception time was August 29, 2025, and the company's reception staff included Director, Deputy General Manager, and Financial Controller Xu Feng, and Deputy General Manager and Board Secretary Wang Kefang [16]. 3.2. Detailed Research Institutions - Participating institutions include securities companies such as Guotai Haitong Securities Co., Ltd., Guotou Securities Co., Ltd., and Guoxin Securities Co., Ltd.; fund management companies such as Hongde and Huian; and other types of institutions like Shanghai Guanhuo Investment Research and Junyi Zhenhua (Beijing) [17][18]. 3.3. Research Institution Proportion - No relevant information provided. 3.4. Main Content Data - **Saudi Project Progress**: As of July 2025, the ODI filing approval for the "Saudi Red Sea Aluminum Industry Chain Comprehensive Project" has been completed, and the project is being steadily promoted. The project is expected to have an annual output of 500,000 tons of electrolytic aluminum and 500,000 tons of high - precision aluminum rods, aluminum sheets, and foils [27]. - **High - end Product Performance in H1 2025**: The sales volume of profile products was 77,200 tons, a 43.93% increase compared to the same period last year, and the proportion increased by 1.16 percentage points. The sales volume of aluminum rod cable products was 501,300 tons, a 13.83% increase compared to the same period last year, and the proportion increased by 3.45 percentage points [27]. - **Recycled Aluminum Usage and Plan**: In the first half of 2025, the company comprehensively recycled and utilized 637,500 tons of recycled aluminum, a 12.37% year - on - year increase. The company plans to break through a recycling capacity of 2 million tons in the future [29]. - **R & D Innovation Achievements**: The company added 38 authorized patents in the reporting period, including 4 invention patents and 34 utility model patents. It also participated in the development of materials for Xiaomi cars and entered the mass - production stage [29]. - **Position in the Aluminum Rod Cable Field**: The company is the largest domestic enterprise in the R & D and production of aluminum alloy cable materials, has participated in national standard - setting, and supplied products for major national projects [29][30].