证券代码：600409 证券简称：三友化工 公告编号：临 2025-043 号 唐山三友化工股份有限公司 关于参加 2025 年河北辖区上市公司投资者网上集体接待日暨 2025 年半年报集体业绩说明会的公告 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： 为进一步加强与投资者的互动交流，唐山三友化工股份有限公司（以下简称 "公司"）将参加由河北省上市公司协会、河北省资本市场之家与深圳市全景网络 有限公司联合举办的"2025 年河北辖区上市公司投资者网上集体接待日暨 2025 年半年报集体业绩说明会"，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP，参 与本次互动交流，活动时间为 2025 年 9 月 15 日（周一）14:00-17:00。 届时公司总经理张作功先生、副总经理兼董事会秘书刘印江先生、总会计师 姚志强先生将在线就公司业绩、公司治理、发展战略、经营状况和可持续发展等 投 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Insights - The demand for viscose staple fiber is expected to grow steadily due to high cotton prices and strong downstream textile consumption [14][15] - The viscose staple fiber industry has seen capacity consolidation since 2021, leading to increased industry concentration [6][26] - The industry is currently experiencing high operating rates and low inventory levels, contributing to a rising price trend for viscose staple fiber [7][39] - The report recommends "Sanyou Chemical" as a key investment target and "Zhongtai Chemical" as a beneficiary of the price increase in viscose staple fiber [43][44] Summary by Sections Demand Side - The apparent consumption of viscose staple fiber is projected to be 3.81 million tons in 2023 and 4.09 million tons in 2024, with year-on-year growth rates of 9.74% and 7.28% respectively [5][14] - The retail sales of clothing and textiles in China reached 742.6 billion yuan in the first half of 2025, showing a year-on-year growth of 3.10% [5][15] - The introduction of new spinning equipment, particularly vortex spinning, is expected to further drive demand for viscose staple fiber [19] Supply Side - The effective capacity of viscose staple fiber has decreased from a peak of 5.13 million tons in 2021 to 4.885 million tons in 2024, a decline of 4.8% [6][25] - The industry has seen minimal new capacity additions since 2021, with a current operating rate of 87.6% as of August 2025 [7][31] - The top three companies in the viscose staple fiber industry hold a combined market share (CR3) of 69.77%, indicating a high level of concentration [26][34] Price Dynamics - The price of viscose staple fiber has been increasing, supported by a favorable supply-demand balance, while the price of its main raw material, dissolving pulp, has been declining [39][41] - The price difference between viscose staple fiber and dissolving pulp has widened, indicating improved profitability for industry leaders [39][41] - The report anticipates that the price of viscose staple fiber will continue to rise due to strong downstream demand and seasonal factors [39][41]

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： ●会议召开时间：2025年09月15日（星期一）下午 15:00-16:00 ●会议召开地点：上海证券交易所上证路演中心（网址：https://roadshow.sseinfo.com/） ●会议召开方式：上证路演中心网络互动 登录新浪财经APP 搜索【信披】查看更多考评等级 本次投资者说明会以网络互动形式召开，公司将针对2025年半年度的经营成果及财务指标的具体情况与 投资者进行互动交流和沟通，在信息披露允许的范围内就投资者普遍关注的问题进行回答。 二、 说明会召开的时间、地点 总经理：张作功先生 副总经理兼董事会秘书：刘印江先生 总会计师：姚志强先生 ●投资者可于2025年09月08日（星期一）至09月12日（星期五）16:00前登录上证路演中心网站首页点 击"提问预征集"栏目或通过公司邮箱sh600409@126.com进行提问。公司将在说明会上对投资者普遍关 注的问题进行回答。 唐山三友化工股份有限公司（以下简称"公司"）已于2025年08月28日发布公司 ...

证券日报网讯9月4日晚间，三友化工（600409）发布公告称，公司将于2025年9月15日召开2025年半年 度业绩说明会。 ...

证券代码：600409 证券简称：三友化工 公告编号：临 2025-042 号 唐山三友化工股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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： 会议召开时间：2025 年 09 月 15 日（星期一）下午 15:00-16:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 09 月 08 日（星期一）至 09 月 12 日（星期五）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 sh600409@126.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行 回答。 唐山三友化工股份有限公司（以下简称"公司"）已于 2025 年 08 月 28 日发 布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半 年度经营成果、 ...

Group 1 - The core viewpoint of the article highlights the growth in China's raw salt production, with a reported output of 5.1 million tons in July 2025, reflecting a year-on-year increase of 0.7% [1] - From January to July 2025, the cumulative production of raw salt in China reached 35.569 million tons, marking a cumulative growth of 2.8% [1] - The article references a report by Zhiyan Consulting, which provides insights into the supply and demand dynamics of the raw salt industry in China from 2025 to 2031, along with investment prospects [1] Group 2 - The listed companies in the raw salt industry include Su Yan Jingshen (603299), Zhongyan Chemical (600328), Xue Tian Salt Industry (600929), Shandong Haihua (000822), Sanyou Chemical (600409), and Yunnan Salt Chemical (002053) [1] - The data presented is sourced from the National Bureau of Statistics and organized by Zhiyan Consulting, indicating the reliability of the statistics [1] - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in in-depth industry research and providing comprehensive consulting services for investment decisions [1]

Core Viewpoint - Antibacterial glass is an emerging functional glass that not only retains the original functions and decorative effects of glass but also adds the ability to inhibit and kill pathogenic microorganisms, leading to increased demand across various sectors [1][7]. Market Overview - The market size of the antibacterial glass industry in China reached 1.16 billion yuan in 2018 and is projected to grow to 2 billion yuan by 2024, with a compound annual growth rate (CAGR) of 9.5% [1][8]. - In 2020, due to the pandemic, the market size in the medical field increased by 13.3% due to the strong antibacterial capabilities of the glass [1]. Industry Chain - The upstream of the antibacterial glass industry includes raw materials such as quartz sand, soda ash, and nano antibacterial agents, with quartz sand being the core raw material [6]. - The midstream involves the production and manufacturing of antibacterial glass, while the downstream includes application fields such as healthcare, food processing, and construction [6]. Product Characteristics - Antibacterial glass is categorized into different types based on antibacterial mechanisms, including silicon-silver coated, silicon-titanium coated, and silicon-fluorine coated antibacterial glass, each with unique properties [4][5]. Competitive Landscape - The antibacterial glass industry is primarily dominated by foreign companies, with significant market share held by firms like Corning in the U.S. However, domestic companies are gradually increasing their market share through technological advancements [8]. Development Trends - Market demand for antibacterial glass is expected to continue growing, particularly in healthcare, food packaging, and construction sectors, driven by increasing consumer health awareness [10]. - Companies in the antibacterial glass industry are focusing on green and sustainable development, emphasizing the use of eco-friendly materials and reducing energy consumption [11]. - There is a need for companies to explore international markets, especially in Southeast Asia and the Middle East, where there is a rising demand for antibacterial glass products due to public health upgrades and infrastructure development [12].

Summary of Viscose Staple Fiber Industry Research Industry Overview - The viscose staple fiber industry has seen a significant increase in concentration, with the top three companies, Sidelong, Zhongtai Chemical, and Tangshan Sanyou, increasing their market share from 27% in 2014 to 72% in 2024, with Sidelong holding 37% [1][2] - The apparent consumption of viscose staple fiber in China is projected to grow from 3 million tons in 2014 to over 4.2 million tons by 2024, reflecting a compound annual growth rate (CAGR) of approximately 4% [1][8] - The total production capacity of viscose staple fiber has gradually decreased since 2022, with a reduction of about 9% expected by the end of 2024, bringing total capacity to approximately 4.82 million tons, down from a peak of 4.85 million tons [1][5] Supply-Side Dynamics - The supply-side situation is characterized by capacity contraction, strict policy controls, and market structure optimization. Since 2022, there has been no new capacity added, and the overall capacity has decreased by about 10% over the past three years [2][5] - Policies have been implemented to restrict supply-side development, including the elimination of outdated capacity (approximately 550,000 to 560,000 tons) and raising energy consumption standards [6][2] - The industry currently operates at a high utilization rate of 85%-86%, with low inventory levels, which supports price increases during the traditional peak season [1][9] Demand-Side Trends - The demand for viscose staple fiber is closely linked to the textile and apparel sector's performance. The demand structure has shifted, with the proportion of cotton blended yarn decreasing and non-woven fabric demand increasing [3][8] - By 2024, cotton blended yarn is expected to account for 55% of downstream demand, down 22% from 2015, while non-woven fabric's share is projected to rise to 18% from just 3% in 2015 [8] - The price of viscose staple fiber is expected to rise due to the correlation with cotton prices, which have been increasing as cotton inventories reach a seven-year low [4][9] Competitive Landscape - The competitive landscape has changed significantly, with the top three companies now holding over 72% of the market share. The market concentration has increased from less than 30% in 2014 to 72% in 2024 [7][2] - Other companies with production capabilities include Jilin Chemical Fiber (120,000 tons) and Nanjing Chemical Fiber (80,000 tons), but the overall market remains highly concentrated [7][11] Price Trends - Over the past 20 years, viscose staple fiber has experienced four major price increases driven by various factors, including market acceptance, demand growth, and policy changes [10] Key Companies - Major companies in the viscose staple fiber sector include Sanyou Chemical, Zhongtai Chemical, Jilin Chemical Fiber, and Nanjing Chemical Fiber, with Sanyou Chemical having the largest external sales at approximately 820,000 tons [11]

Core Viewpoint - The company reported a significant decline in revenue and net profit for the first half of 2025, indicating challenges in pricing and demand within its product segments [1] Financial Performance - The company achieved operating revenue of 9.562 billion yuan in the first half of 2025, a year-over-year decrease of 11.13% [1] - The net profit attributable to shareholders was 73 million yuan, down 77.64% year-over-year [1] - The non-recurring net profit was 46 million yuan, reflecting an 85.77% year-over-year decline [1] Product Performance - In Q2 2025, the company experienced a decline in product prices, impacting overall revenue [1] - Sales volume for viscose staple fiber and PVC segments increased sequentially, with Q2 sales reaching 210,500 tons and 111,400 tons, respectively, up by 22,400 tons and 6,700 tons [1] - The prices of several products are at historically low levels, with heavy soda ash at the 0.5% price percentile over the past decade [1] Future Outlook - The company anticipates potential performance recovery due to the expected implementation of "anti-involution" policies [1] - Projected net profits for 2025-2027 are estimated at 190 million, 391 million, and 499 million yuan, with corresponding EPS of 0.09, 0.19, and 0.24 yuan [1] - As of August 28, the closing price corresponds to PE ratios of 67, 32, and 25 for the respective years [1]

Core Points - The legal opinion confirms that the second extraordinary general meeting of shareholders for Tangshan Sanyou Chemical Co., Ltd. was convened and conducted in accordance with relevant laws and regulations [1][6] - The meeting was held on August 28, 2025, with a combination of on-site and online voting methods [2][6] - A total of 809 shareholders participated, representing 1,010,914,637 shares, which is 45.6820% of the total voting shares [3] Meeting Procedures - The meeting was announced on August 13, 2025, through various media outlets, detailing the time, voting methods, and agenda [1][2] - The meeting was chaired by the company's chairman, Wang Chunsheng, and included provisions for online voting through the Shanghai Stock Exchange [2][3] - The qualifications of attendees were verified, ensuring compliance with the Company Law and relevant regulations [3][6] Resolutions and Voting Results - The meeting reviewed several resolutions, all of which were consistent with the agenda outlined in the meeting notice [4][6] - Voting results showed overwhelming support for the resolutions, with approval rates ranging from 98.4001% to 99.7963% for various proposals [5][6] - The legal opinion concluded that the voting procedures and results were valid and in accordance with the law [6]