证券代码：600328 证券简称：中盐化工 公告编号：2025-065 中盐内蒙古化工股份有限公司 2025年第四次临时股东会决议公告 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 | 1、出席会议的股东和代理人人数 | 846 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 695,292,422 | | 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（%） | 47.7118 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，股东会主 持情况等。 (五) 公司董事和董事会秘书的出席情况 1、 公司在任董事9人，出席9人； 2、 公司董事会秘书出席了会议，部分高级管理人员列席了会议。 二、 议案审议情况 (一) 非累积投票议案 1.01 议案名称：修订《控股股东行为规范》 审议结果：通过 表决情况： | 股东类型 | 同意 | | 反对 | | 弃权 | | | --- | ...

内蒙古加度律师事务所 关于中盐内蒙古化工股份有限公司 2025 年第四次临时股东会 之 法律意见书 地址：内蒙古包头市稀土高新区黄河大街时代广场 B 座 14 层 电话：0472-7159669 传真：0472-7159669 邮编：014060 内蒙古加度律师事务所 法律意见书 内蒙古加度律师事务所 关于中盐内蒙古化工股份有限公司 2025 年第四次临时股东会 之法律意见书 致：中盐内蒙古化工股份有限公司 内蒙古加度律师事务所（下称"本所"）接受中盐内蒙古化工股份有限公司 下称"贵公司"）的委托，指派本所执业律师茹家缘、杨静怡（下称"本所经办 律师"）出席贵公司本次召开的 2025 年第四次临时股东会（下称"本次股东会"） 并出具法律意见书。本所经办律师现根据《中华人民共和国公司法》（下称"《公 司法》"）、《中华人民共和国证券法》（下称"《证券法》"）、《上市公司股东会规则》 （下称"《股东会规则》"）、《国务院办公厅关于进一步加强资本市场中小投资者 合法权益保护工作的意见》等法律、法规、部门规章及贵公司章程的有关规定， 就本次股东会的召集和召开程序、会议召集人和出席会议人员的资格、表决程序 及表决结果的 ...

Investment Rating - The report maintains an "Accumulate" rating for the company [6][4]. Core Views - The company reported a revenue of 6 billion RMB in the first half of 2025, a decrease of 5.8% year-on-year, with a net profit attributable to shareholders of 0.53 billion RMB, down 88% year-on-year [1][6]. - The profitability in Q2 showed a net profit of 0.35 billion RMB, down 91% year-on-year but up 105% quarter-on-quarter, indicating a potential recovery trend [1][2]. - The report highlights that the soda ash industry is currently facing weak demand, but there are expectations for recovery in the second half of the year due to improved macroeconomic conditions and cost factors [3][4]. Summary by Sections Financial Performance - In H1 2025, the company achieved a revenue of 6 billion RMB, with a net profit of 0.53 billion RMB, and a non-recurring net profit of 0.41 billion RMB, reflecting a significant decline compared to the previous year [1][6]. - Q2 2025 saw a net profit of 0.35 billion RMB, which is a 91% decrease year-on-year but a 105% increase from the previous quarter [1][2]. Sales and Pricing - The company's soda ash sales volume increased by 39% year-on-year to 2.15 million tons in H1 2025, although revenue from soda ash decreased by 6% to 2.66 billion RMB due to falling prices [2][3]. - The average price of soda ash in Q2 2025 was 1212 RMB/ton, down 31% year-on-year and 5% quarter-on-quarter [2][3]. Industry Outlook - The soda ash industry is expected to see a recovery in demand in the second half of 2025, supported by improved macroeconomic conditions and a reduction in coal costs [3][4]. - The company is progressing with its natural soda ash project, which is anticipated to enhance its competitive edge in terms of scale and cost [3][4]. Profit Forecast and Valuation - The profit forecast for the company has been revised downwards, with expected net profits of 0.28 billion RMB, 0.51 billion RMB, and 0.80 billion RMB for 2025, 2026, and 2027 respectively, reflecting a significant downward adjustment [4][19]. - The target price for the company's stock is set at 8.96 RMB, based on a price-to-book ratio of 1.07 for 2025 [4][6].

7月14日晚间，中盐化工（600328）发布2025年半年度报告，这也是2025年的A股上市公司首份中报， 向市场传递公司加快传统产业提质升级、推进战略性新兴产业培育发展的信心，增强可持续发展的能力 和抗风险能力。 上半年，中盐化工纯碱、金属钠、糊树脂、熟料、维蜂盐藻销售同比增长，实现营业收入59.98亿元， 归母净利润5271.55万元。同时公司旗下公司成功竞拍到国内发现储量最大的天然碱资源，优化纯碱产 业布局。由于看好天然碱资源为公司带来的成长潜力，华泰证券近期上调了公司估值和目标股价：给予 公司2025年20倍PE估值，目标价8.40元(前值为7.56元，对应2025年18倍PE)，维持"增持"评级。 主要产品实现高质量发展，战新产业布局落地 2025年上半年，公司第一大产品纯碱产能释放，同时纯碱产品优化"期现结合"营销模式，提升增销创效 综合能力，因此产销量分别达到216.05万吨、214.52万吨，分别同比增长38.31%、38.75%。公司烧碱产 品尽管产销量同比减少，但受益于氧化铝等下游领域需求扩张，叠加行业环保限产影响供给端，烧碱价 格上涨19.87%，带动公司上半年烧碱业务营收同比增长17. ...

Core Viewpoint - The article highlights significant developments in China's financial and economic landscape, including regulatory measures, monetary policy updates, trade statistics, and corporate earnings forecasts. Group 1: Regulatory and Policy Developments - The Central Committee of the Communist Party of China emphasizes strengthening financial trial work to combat market manipulation, insider trading, illegal fundraising, loan fraud, and money laundering, while also improving rules for emerging financial disputes [2] - The People's Bank of China (PBOC) has implemented a series of structural monetary policy tools to support technology innovation and consumption, with a total loan contract amount for technology innovation reaching 1.74 trillion yuan by the end of May [3] - The PBOC plans to conduct a 14 billion yuan reverse repurchase operation to maintain liquidity in the banking system [4] Group 2: Economic Indicators - As of June 2025, the broad money supply (M2) in China reached 330.29 trillion yuan, growing by 8.3% year-on-year, while the narrow money supply (M1) was 113.95 trillion yuan, up by 4.6% [2] - In the first half of 2025, the total social financing increased by 22.83 trillion yuan, which is 4.74 trillion yuan more than the same period last year [2] - China's goods trade in the first half of 2025 totaled 21.79 trillion yuan, a year-on-year increase of 2.9%, with exports at 13 trillion yuan (up 7.2%) and imports at 8.79 trillion yuan (down 2.7%) [4] Group 3: Corporate Earnings and Developments - China National Salt Industry Corporation reported a 5.76% decrease in revenue for the first half of 2025, with net profit down 88.04% to 52.72 million yuan [8] - Jinpu Titanium Industry plans to exit the titanium dioxide industry through significant asset swaps [9] - Qianfang Technology expects a net profit increase of 1125.99% to 1534.65% for the first half of 2025 [10] - Huahong Technology anticipates a net profit increase of 3047.48% to 3721.94% for the same period [11] - Aerospace Science and Technology Corporation projects a net profit increase of 1628.83% to 2315.27% for the first half of 2025 [19]

Group 1 - The market is experiencing index differentiation due to sector rotation, with ongoing upward momentum in the market [1][13] - The U.S. stock market closed higher, with the Dow Jones up 0.20%, Nasdaq up 0.27%, and S&P 500 up 0.14% [4] - The communication sector led gains, while the energy sector saw the largest decline [4] Group 2 - Autodesk shares rose by 5.1% after reports that the company will no longer seek to acquire PTC, which saw its stock drop by 1.8% [4] - Bitcoin surpassed $120,000 for the first time, boosting the cryptocurrency sector, with Coinbase up 1.8% and MicroStrategy up 3.8% [4] - The Nasdaq Golden Dragon China Index increased by 0.7%, with Bilibili up 4.2% and Alibaba and NetEase rising over 1% [4] Group 3 - China’s central bank announced a 14 billion yuan reverse repurchase operation to maintain liquidity in the banking system [5] - The People's Bank of China is focusing on structural monetary policy tools to support technology innovation and consumption [5] - The Green Finance Support Project Directory (2025 version) was issued to enhance liquidity in the green finance market [6] Group 4 - China Salt Chemical reported a 26.51% decrease in total operating revenue for the first half of 2025, with a net profit of 441 million yuan, down 42.24% year-on-year [8] - CICC expects a net profit increase of 55% to 78% for the first half of 2025, projecting a profit of 34.53 billion to 39.66 billion yuan [9] - Sanyuan Group anticipates a significant net profit increase of 810.41% to 1265.61% for the first half of 2025 [10] Group 5 - Vanke A expects a net loss of 10 billion to 12 billion yuan for the first half of 2025, primarily due to declining project settlement scale and low gross margins [11] - Yonghui Supermarket forecasts a net loss of 240 million yuan for the first half of 2025, impacted by store closures and supply chain reforms [12] - Jinpu Titanium Industry plans to acquire 100% of Nanjing Lide Oriental Rubber and Plastic Technology Co., with stock resuming trading after a suspension [13]

Macro News - The Central Committee of the Communist Party of China emphasizes strict punishment for financial crimes such as market manipulation, insider trading, illegal fundraising, loan fraud, and money laundering to promote healthy financial market development [1][5] - The People's Bank of China (PBOC) will conduct a 14 trillion yuan reverse repurchase operation on July 15, 2025, to maintain ample liquidity in the banking system, with 8 trillion yuan for 3-month operations and 6 trillion yuan for 6-month operations [3][6] - In the first half of 2025, the total social financing increased by 22.83 trillion yuan, with new loans amounting to 12.92 trillion yuan, and M2 growth of 8.3% year-on-year [4][6] Company News - China Eastern Airlines expects a net loss of 12 billion to 16 billion yuan for the first half of 2025 [12] - Greenland Holdings anticipates a net loss of 30 billion to 35 billion yuan for the first half of 2025 [13] - Longi Green Energy expects a net loss of 24 billion to 28 billion yuan for the first half of 2025, although it represents a reduction in losses compared to the previous year [13] - Perfect World anticipates a net profit of 4.8 billion to 5.2 billion yuan for the first half of 2025, marking a turnaround from losses [17] - Wen Tai Technology expects a net profit increase of 178% to 317% year-on-year for the first half of 2025 [18] - China Rare Earth anticipates a net profit of 136 million to 176 million yuan for the first half of 2025, indicating a return to profitability [21] Investment Opportunities - The Robotaxi industry is expected to experience rapid growth due to technological advancements and supportive policies, with 2025 projected as a year of mass production [29] - The solid-state battery market is anticipated to see significant growth, with expectations for small-scale production by 2027 and larger-scale shipments by 2030, driven by increasing demand for high-performance batteries [30] - The humanoid robot market is projected to grow significantly, with a record order of 124 million yuan for humanoid robot manufacturing services, indicating strong market potential [31] - The successful production of the first barrel of uranium from China's largest natural uranium production project is expected to enhance the country's energy resource security and influence in uranium resource development [32]

证券代码：600328 证券简称：中盐化工 公告编号：（临）2025-061 中盐内蒙古化工股份有限公司 关于增加 2025 年度日常关联交易预计的公告 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个别及连带责任。 重要内容提示： 经审核独立董事认为：公司本次增加 2025 年度日常关联交易预计符 合公司实际情况，属于公司正常的业务范围。公司按市场定价原则向关联 方购买货物，属于正常和必要的交易行为，进行此类关联交易，能够节约 和降低采购费用，有利于保证本公司开展正常的生产经营活动；按照市场 公允价格向关联方销售产品，有利于提高公司产品的市场占有率，有利于 促进公司产品的销售。 ●是否需要提交股东会审议：是 ●日常关联交易对上市公司的影响（是否对关联方形成较大的依赖） 中盐内蒙古化工股份有限公司（以下简称"公司" ）相对于各关联方，在 业务、人员、资产、机构、财务等方面独立，本次关联交易不会对公司的 独立性产生影响，不存在损害公司及其股东特别是中、小股东利益的情形， 公司主营业务不会因此类交易而对关联人形成依赖。 公司 2024 年度 ...

证券代码：600328 证券简称：中盐化工 公告编号：2025-062 中盐内蒙古化工股份有限公司 关于为部分子公司增加担保额度的公告 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： ? 担保对象及基本情况 被担保人名称 中盐内蒙古化工钠业有限公司 增加后担保金额 不超过 9 亿元 担 保 对 实际为其提供的担保余额 10,000.00 万元 象1 是否在前期预计额度内 ?是 ?否 □不适用：_________ 本次担保是否有反担保 ?是 ?否 □不适用：_________ 被担保人名称 中盐吉兰泰氯碱化工有限公司 增加后担保金额 不超过 27 亿元 担保对 实际为其提供的担保余额 75,000.00 万元 象2 是否在前期预计额度内 ?是 ?否 □不适用：_________ 本次担保是否有反担保 ?是 ?否 □不适用：_________ ? 累计担保情况 对外担保逾期的累计金额（万元） 0.00 截至本公告日上市公司及其控股 子公司对外担保总额（万元） 对外担保总额占上市公司最近一 期经审计净资产的比例（%） ...

Core Viewpoint - The announcement provides an overview of the operational performance of Zhongyan Inner Mongolia Chemical Co., Ltd. for the first half of 2025, highlighting production, sales, and revenue figures across various product categories. Group 1: Main Products' Performance - The company reported the following revenue and production figures for its main products: - Sodium metal and sodium chlorate generated a revenue of 457.30 million yuan with a production of 74,600 tons and sales of 75,500 tons [1] - Soda ash generated a revenue of 2,658.23 million yuan with a production of 2,160,500 tons and sales of 2,145,200 tons [1] - PVC resin generated a revenue of 694.78 million yuan with a production of 109,600 tons and sales of 111,600 tons [1] - Caustic soda generated a revenue of 532.32 million yuan with a production of 186,800 tons and sales of 176,500 tons [1] - Ammonium chloride generated a revenue of 138.82 million yuan with a production of 429,400 tons and sales of 425,100 tons [1] - Medicinal products such as compound licorice tablets and Cistanche deserticola granules generated a revenue of 69.69 million yuan with a production of 1,454,900 boxes and sales of 1,330,500 boxes [1] Group 2: Price Changes of Main Products - The average selling prices of key products experienced the following changes: - Sodium metal and sodium chlorate prices decreased by 10.86% and 7.44% respectively due to supply-demand adjustments [2] - Soda ash prices fell by 38.24%, PVC prices decreased by 14.01%, and paste resin prices dropped by 10.43% due to weakened downstream demand and increased capacity [2] - Caustic soda prices increased by 19.87% due to strong downstream demand, while ammonium chloride prices decreased by 21.85% due to lower raw material costs and increased supply [2] Group 3: Raw Material Price Changes - The prices of major raw materials showed the following changes: - The price of raw salt decreased by 27.90%, while limestone prices remained stable due to supply-demand balance [2] - The prices of coke and coal fell by 13.38% and 7.20% respectively, benefiting from increased domestic coal supply and reduced thermal power demand [2] - Liquid ammonia prices decreased by 11.14% due to the downward transmission effect of coal prices, and licorice extract powder prices dropped significantly due to increased market supply [2]