Core Viewpoint - The company, Tangshan Sanyou Chemical Co., Ltd., has announced its second quarter operational data for 2025, highlighting its production, sales, and revenue figures, as well as its strategy to mitigate risks associated with price fluctuations through futures hedging [2][3]. Company Overview - Tangshan Sanyou Chemical Co., Ltd. operates in the basic chemical industry, producing products such as soda ash, viscose staple fiber, PVC, caustic soda, and organic silicon [12]. - The company aims to enhance its operational stability and financial health by implementing a futures hedging strategy to manage risks related to raw material and product price volatility [12][21]. Financial Data - The company plans to utilize up to 249 million RMB for trading margins and premiums, with a maximum contract value of 1.245 billion RMB on any trading day [10][13]. - The hedging activities will be funded through the company's own resources [11][13]. Risk Management - The company has identified several risks associated with its futures hedging activities, including market risk, policy risk, liquidity risk, operational risk, and technical risk [18][21]. - To mitigate these risks, the company has established strict operational protocols, including adherence to relevant laws and regulations, and has implemented a comprehensive risk management framework [21][22]. Board Decisions - The company's board of directors has approved the 2025 semi-annual report and the action plan for quality improvement and efficiency enhancement, which includes the assessment of the valuation uplift plan [5][6]. - The board has also authorized the initiation of futures hedging activities, which do not require shareholder approval [7][18].

证券代码：600409 证券简称：三友化工 公告编号：临 2025-041 号 唐山三友化工股份有限公司 关于选举职工董事的公告 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。 2025 年 8 月 28 日，唐山三友化工股份有限公司（以下简称"公 司"）召开五届职工代表大会第十七次临时会议，会议对免去现任职 工监事3名，选举第九届董事会职工董事1名的情况进行了充分研究、 讨论和表决，经职工代表表决一致通过，免去现任职工监事毕昆鹏先 生、陈磊女士、张建华先生；根据差额选举投票结果，郑玉岭先生当 选为公司第九届董事会职工董事，郑玉岭先生个人简历详见附件。 郑玉岭先生的任职资格符合相关法律法规、规范性文件对上市公 司董事任职资格的要求。 郑玉岭先生与公司现任 14 名董事共同组成公司第九届董事会， 任期自公司本次职工代表大会选举通过之日起至第九届董事会任期 届满之日止。 特此公告。 唐山三友化工股份有限公司 2025 年 8 月 29 日 附件： 郑玉岭先生简历 郑玉岭，男，1971 年 2 月出生，汉族，中共党员，本科学历， 高 ...

Core Insights - Sanyou Chemical (600409.SH) reported a total operating revenue of 9.562 billion yuan for the first half of 2025, ranking 8th among disclosed peers, which represents a decrease of 1.198 billion yuan or 11.13% year-on-year [1] - The net profit attributable to shareholders was 73.2517 million yuan, ranking 17th among peers, down by 254 million yuan or 77.64% compared to the same period last year [1] - The net cash flow from operating activities was -96.0487 million yuan, ranking 48th among peers, a decrease of 670 million yuan or 116.75% year-on-year [1] Financial Ratios - The latest debt-to-asset ratio is 41.55%, ranking 27th among peers, with an increase of 0.12 percentage points from the previous quarter and the same period last year [3] - The latest gross profit margin is 12.92%, ranking 26th among peers, with an increase of 0.29 percentage points from the previous quarter but a decrease of 4.70 percentage points year-on-year [3] - The latest return on equity (ROE) is 0.53%, ranking 32nd among peers, down by 1.86 percentage points compared to the same period last year [3] Earnings Per Share and Turnover Ratios - The diluted earnings per share is 0.04 yuan, ranking 31st among peers, a decrease of 0.12 yuan or 77.63% year-on-year [3] - The latest total asset turnover ratio is 0.37 times, ranking 13th among peers, a decrease of 0.05 times or 12.31% year-on-year [3] - The latest inventory turnover ratio is 5.21 times, ranking 25th among peers, a decrease of 0.66 times or 11.31% year-on-year [3] Shareholder Structure - The number of shareholders is 87,200, with the top ten shareholders holding 1.046 billion shares, accounting for 50.66% of the total share capital [3] - The largest shareholder is Tangshan Sanyou Alkali Industry (Group) Co., Ltd., holding 36.45% of the shares [3] - Other notable shareholders include Tangshan Sanyou Group Co., Ltd. with 8.10% and the National Social Security Fund with smaller stakes [3]

格隆汇8月27日丨三友化工(600409.SH)发布2025半年度报告，公司上半年实现营业收入95.62亿元，同比 下滑11.13%；归母净利润7325.17万元，同比下滑77.64%；扣非归母净利润4618.59万元，同比下滑 85.77%。 ...

Group 1 - The company held its ninth board meeting on August 27, 2025, with all 14 directors present, confirming the legality and validity of the meeting [1] - The board approved the 2025 semi-annual report, with unanimous support from all directors [1] - The board also approved the "Quality Improvement and Efficiency Enhancement" action plan and valuation enhancement plan semi-annual evaluation report, receiving full support [2] Group 2 - The board approved a proposal to engage in commodity futures hedging to mitigate price fluctuation risks of products and raw materials, with a maximum trading margin and premium not exceeding the authorized limit for 12 months [2] - The hedging activities will focus on commodities and raw materials related to the company's production and operations, including but not limited to soda ash, caustic soda, PVC, and industrial silicon [2]

唐山三友化工股份有限公司2025 年半年度报告 公司代码：600409 公司简称：三友化工 唐山三友化工股份有限公司 2025 年半年度报告 1 / 151 唐山三友化工股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、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。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人王春生、主管会计工作负责人姚志强及会计机构负责人（会计主管人员）刘广 来声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告内容中涉及的未来计划、发展战略等前瞻性陈述因存在不确定性，不构成公司对投资 者的实质承诺，敬请投资者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 ...

证券代码：600409 证券简称：三友化工 公告编号：临 2025-037 号 唐山三友化工股份有限公司 2025年第二季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法律责任。 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：第十三 号——化工》有关规定和披露要求，现将唐山三友化工股份有限公司（以下简称 "公司"）2025 年第二季度主要经营数据公告如下： 二、公司主要产品的价格变动情况 | | 2025 年 | 2025 年 | | 2024 年 | | | --- | --- | --- | --- | --- | --- | | 主要产品 | 第二季度 | 第一季度 | | 第二季度 | | | 名称 | 平均售价 | 平均售价 | 环比价格 | 平均售价 | 同比价格 | | | （元/吨） | （元/吨） | 变动幅度 | （元/吨） | 变动幅度 | | 纯碱 | 1,220.74 | 1,308.34 | -6.70% | 1,807.31 | -32.46% | | 粘胶短纤维 | ...

唐山三友化工股份有限公司 二、本次套保业务情况概述 （一）交易目的 关于开展商品期货套期保值业务的 可行性分析报告 唐山三友化工股份有限公司（简称"公司"）及子公司拟开展商品期货套期保 值业务（简称"套保业务"）。现分析如下： 一、开展套保业务的必要性 公司属基础化工行业，主要生产纯碱、粘胶短纤维、PVC、烧碱、有机硅等 产品，所需原材料主要为原盐、浆粕、电石、硅块等，产品及原材料价格的大幅 波动对公司的成本和利润影响较大，对公司生产经营造成不利影响。开展套保业 务，有助于公司充分利用期货市场价格发现、风险对冲、避险保值功能，规避或 减少因产品及原材料价格发生不利变动引起的损失，降低对企业正常生产经营的 不利影响，提升整体抵御风险的能力。 公司套保业务以套期保值为原则，不以套利、投机为目的，均为针对实际经 营中的采购成本控制、销售利润锁定及预防存货跌价损失的套期保值操作，以规 避相应产品或原材料价格波动风险。 （二）交易品种 套保业务交易品种仅限公司及子公司生产经营范围内的商品及与公司生产 经营相关的大宗原材料品种，包括但不限于纯碱、烧碱、PVC、工业硅等。 （三）交易额度 套保业务预计动用的交易保证金和权利 ...

唐山三友化工股份有限公司 2025 年度"提质增效重回报"行动方案暨 估值提升计划半年度评估报告 为积极响应上海证券交易所号召，落实《上市公司监管指引第 10 号——市 值管理》等监管要求，践行以"投资者为本"的上市公司发展理念，维护全体股东 利益，促进公司长远健康高质量发展，公司制定了《2025 年度"提质增效重回报" 行动方案暨估值提升计划》（以下简称"行动方案"）。2025 年上半年，公司根据 行动方案积极开展和落实各项工作举措，现将行动方案执行情况及效果报告如下： 一、聚焦主责主业，高效提升经营质量 大力实施"三转"战略，以数智化推进传统产业向高端化、智能化、绿色化转 型升级，培育壮大新兴产业，"三链一群"重点项目建设全面提速，科技创新能力 持续增强，生产经营保持稳健运行。 （一）优化产业结构，提升产业能级 优化产业结构，推动转型升级取得显著成效。一是加速新兴产业建设。高端 电子化学品项目电子级氯化氢、氨气、氨水、硫酸处于试生产阶段，电子级异丙 醇进入单机调试阶段。精细化工一期项目设备安装进入收尾阶段，正在进行管道 安装，力争今年四季度投产，加快盐化、石化融合发展。二是加快传统产业升 级。 坚持以数智 ...

Market Overview - On August 25, the chemical raw materials sector rose by 1.24%, with Jinniu Chemical leading the gains [1] - The Shanghai Composite Index closed at 3883.56, up 1.51%, while the Shenzhen Component Index closed at 12441.07, up 2.26% [1] Stock Performance - Jinniu Chemical (600722) closed at 7.12, up 4.25%, with a trading volume of 922,400 shares and a transaction value of 650 million yuan [1] - Sanxiang New Materials (603663) closed at 28.39, up 4.07%, with a trading volume of 212,000 shares and a transaction value of 593 million yuan [1] - Dayang Biological (003017) closed at 34.80, up 3.26%, with a trading volume of 79,500 shares and a transaction value of 274 million yuan [1] - Other notable stocks include Tiangong Co. (603067) up 2.94%, Boyuan Chemical (000683) up 2.64%, and Luxi Chemical (000830) up 2.55% [1] Capital Flow - The chemical raw materials sector experienced a net outflow of 1.249 billion yuan from institutional investors, while retail investors saw a net inflow of 1.2 billion yuan [2] - Speculative funds had a net inflow of 48.9 million yuan [2] Individual Stock Capital Flow - Sanyou Chemical (600409) had a net outflow of 39.23 million yuan from institutional investors, while retail investors had a net outflow of 17.48 million yuan [3] - Sanxiang New Materials (603663) saw a net inflow of 28.96 million yuan from institutional investors, but a net outflow of 44.09 million yuan from speculative funds [3] - Luxi Chemical (000830) had a net inflow of 23.10 million yuan from institutional investors [3]