股票代码：600423 股票简称：柳化股份 公告编号：2026-005 柳州化工股份有限公司 关于投资建设 20 万吨/年全酸性流化床过氧化氢项目的公告 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 ● 投资标的名称：20 万吨/年全酸性流化床过氧化氢项目 ● 投资金额：总投资约 28,990 万元 ● 其它需要提醒投资者重点关注的风险事项 1、本项目已完成前期立项备案，还需履行环评、能评等前置审批手续，如因国家或地方有关政策调整、 项目审批等实施条件因素发生变化，该项目的实施可能存在变更、延期、中止或终止的风险。 2、本次投资项目是基于公司战略发展的需要及对行业市场前景的判断，后续如遇市场环境变化、行业 政策调整、不可抗力等因素影响，可能存在收益不达预期的风险。 一、投资项目概述 （一）本次项目概况 为积极响应推动上市公司高质量发展战略，切实提升公司可持续经营能力与核心竞争力，有效化解当 前存在的资产规模相对有限、盈利能力弱等发展短板，经公司深入研究论证，拟投资建设一套 20 万吨/年 全酸性流化床过氧化氢生 ...

证券代码：600423 证券简称：柳化股份 公告编号：2026-006 柳州化工股份有限公司 关于召开2026年第一次临时股东会的通知 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： 一、 召开会议的基本情况 召开的日期时间：2026 年 4 月 14 日 14 点 30 分 召开地点：广西柳州市跃进路 106-8 号汇金国际 26 层公司会议室 (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2026 年 4 月 14 日 股东会召开日期：2026年4月14日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 (一) 股东会类型和届次 2026年第一次临时股东会 (二) 股东会召集人：董事会 (三) 投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合 的方式 (四) 现场会议召开的日期、时间和地点 至2026 年 4 月 14 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交易时 ...

柳州化工股份有限公司（以下简称"公司"）第七届董事会第七次会议通知及材料于 2026 年 3 月 24 日以 电子邮件方式发出，会议于 2026 年 3 月 27 日在公司会议室召开，会议应参加表决的董事 9 人，实际表决的董 事 9 人，公司高级管理人员列席了会议，本次会议符合《公司法》和《公司章程》的有关规定。会议由董事长 陆胜云先生主持。 股票代码：600423 股票简称：柳化股份 公告编号：2026-004 柳州化工股份有限公司 第七届董事会第七次会议决议公告 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。 一、董事会会议召开情况 2026年3月28日 1 该议案尚须提交公司 2026 年第一次临时股东会审议。 2．以九票赞成、零票反对、零票弃权，审议通过了关于召开公司 2026 年第一次临时股东会的议案》（详 见同日披露于上海证券交易所网站：www.sse.com.cn 及刊登在上海证券报的《关于召开 2026 年第一次临时股 东会的通知》（公告编号：2026-006））。 特此公告。 柳州化工股份有限公司董事会 二 ...

立信会计师事务所（特殊普通合伙） 关于柳州化工股份有限公司 业绩预告相关事项的监管工作函 的回复 IIIII I !!!!!!!!!! 贵部于近期出具的《关于柳州化工股份有限公司业绩预告相关 事项的监管工作函》(上证公函【2026】第 0223 号)(以下简称"监 管工作函"）已收悉。立信会计师事务所(特殊普通合伙)(以下简 称"立信"、"我们"）作为柳州化工股份有限公司(以下简称"柳化 股份"、"公司"）2025年年报审计机构,对监管工作函中要求会 计师核查的问题现回复如下: 问题一、业绩预告显示,公司 2025年净利润同比下降,原因主要是报告期内各 类双氧水产品市场价格低于上年同期水平,公司产品销售价格同比下降,同时报 告期内公司产量略有下滑,导致单位生产成本上升,两者共同导致营业收入与毛 利率同比减少。公司 2025年第三季度报告显示,前三季度资产减值损失为-60.66 万元。 请公司:(1)补充披露报告期内公司前十大客户的名称、客户类型、销售内容、收 入确认金额、应收账款余额、信用政策、回款情况、成立时间、合作时长,说明 是否存在关联关系。(2)分产品、分销售区域补充披露报告期毛利率变动情况,结 合产 ...

Financial Performance - In 2025, the company's net profit is expected to decline by 79.19% year-on-year, amounting to 6.28 million yuan, compared to a decrease of 23.89 million yuan from the previous year[3]. - The company's operating revenue for 2025 is projected to be 137.40 million yuan, representing a 16.67% decrease compared to the previous year[7]. - The company reported a total asset impairment loss of 606,600 yuan for the first three quarters of 2025[3]. - The company reported a total revenue of less than 200 million yuan, which poses a risk of delisting if losses occur in 2025, as per the Shanghai Stock Exchange's new delisting rules[25]. Production and Sales - The production volume of 27.5% hydrogen peroxide is estimated at 155,300 tons, reflecting an 8.21% year-on-year decline[7]. - In 2025, the company's hydrogen peroxide sales volume reached 145,890 tons, generating a total revenue of 11,819 million yuan, with an average selling price of 810.07 yuan per ton[10]. - The company's hydrogen peroxide production capacity is 160,000 tons, with projected production of 169,000 tons in 2024 and 155,000 tons in 2025, indicating stable operations despite a decline in sales prices affecting revenue in 2025[24]. Pricing and Profitability - The average selling price of 27.5% hydrogen peroxide decreased by 12.90% year-on-year, with a unit selling price of 810.07 yuan per ton[8]. - The gross profit margin for 27.5% hydrogen peroxide dropped to 5.99%, a decrease of 17.82 percentage points compared to the previous year[8]. - The gross profit margin for self-pickup in Guangxi was 11.99%, while for delivery it was 8.71%, indicating that self-pickup has a higher profitability compared to delivery methods[10][13]. - The gross profit margin for the overall sales was 5.99%, reflecting the impact of increased transportation costs and lower production volumes[10][20]. - The overall gross margin for the company is maintained at 5.99%, despite industry losses, due to better cost control compared to the industry average and higher selling prices in the South China region[24]. Costs and Expenses - The company reported a total manufacturing cost of 9,305.73 million yuan for 2025, with a unit cost of 616.03 yuan per ton[14]. - Direct material costs accounted for 77.42% of total costs, with hydrogen costs remaining stable at 244 yuan per cubic meter, while other chemical raw materials saw a slight decrease in prices[15][16]. - The energy costs increased by 8.62% due to higher annual maintenance efforts, leading to a rise in the comprehensive unit cost of electricity, water, and steam[15][21]. - Management expenses for the reporting period totaled 1,135.54 million yuan, showing a slight increase of 2.16% year-on-year, with significant changes in specific expense categories such as a 188.61% increase in repair costs[29]. - Research and development expenses decreased by 60.67% year-on-year to 50.50 million yuan, primarily due to the absence of technical service fees from previous projects[31]. Cash Flow and Liquidity - Interest income for the reporting period was 1,324.4 million yuan, with the majority coming from agreements with Liuzhou Bank, reflecting a strong correlation with the company's cash holdings of 4.32 billion yuan[30]. - The company has conducted liquidity stress tests on its cash reserves for 2024 and 2025, confirming the liquidity of its cash holdings[32]. - The asset-liability ratio is reported at 10%, with no interest-bearing debt, indicating a strong debt structure and a cash ratio of 7.44, reflecting ample liquidity and strong debt repayment capability[24]. Market and Strategic Outlook - The company faces risks from market price fluctuations and demand changes, as it operates primarily in the hydrogen peroxide sector, which has seen increased competition and a slowdown in downstream demand growth[24]. - The company plans to enhance market forecasting and supplier audits to further reduce procurement costs and improve profitability[16]. - The company plans to enhance profitability and operational stability through measures such as improving existing facilities, strengthening marketing management, and expanding into high-purity hydrogen peroxide markets[26]. Audit and Compliance - The annual audit for the company's 2025 financial statements is still ongoing, and discrepancies may exist between audited financial data and performance forecasts[35]. - The audit procedures include detailed checks on revenue recognition, cost expenses, and asset impairment assessments[36]. - The company emphasizes the importance of maintaining effective internal controls over revenue and expense recognition processes[35]. - The company is implementing targeted audit procedures to ensure compliance with auditing standards and to address significant risks identified in financial reporting[37].

Group 1: Company Performance - LiuHua Co., Ltd. (600423.SH) experienced a stock price fluctuation on February 24, 2026, closing at 3.99 CNY, with a daily increase of 4.72% and a trading volume of 1.04 billion CNY, reflecting a turnover rate of 3.29% [1] - The company is expected to report a net profit attributable to shareholders of 6.28 million CNY for 2025, representing a year-on-year decline of 79.19%, primarily due to weak market demand for hydrogen peroxide and falling product prices [3] - Despite the profit decline, the gross margin for the first three quarters of 2025 improved to 8.60%, an increase of 2.39 percentage points from the previous quarter, indicating potential market expectations for cost control and a bottoming out of the industry cycle [3] Group 2: Market and Industry Trends - The chemical sector in the A-share market was active on the same day, with the basic chemical sector rising by 3.45% and the chemical raw materials sector increasing by 4.04%, driven by significant gains in sub-sectors like phosphorus chemicals, which rose by 6.91% [1] - The U.S. has included phosphorus-related products in its list of critical strategic materials, pushing international phosphate fertilizer prices above 700 USD/ton, which indirectly boosted sentiment in the domestic chemical sector [4] - Although LiuHua Co. does not directly produce phosphorus chemical products, it is influenced by the overall sentiment in the basic chemical industry [4] Group 3: Technical and Financial Aspects - Despite a net outflow of 6.76 million CNY from major funds (accounting for 6.49% of the trading volume), retail investors contributed a net inflow of 6.98 million CNY, indicating a shift in funding dynamics [2] - The stock price broke through the 20-day moving average of 3.89 CNY and approached the upper Bollinger Band at 4.074 CNY, with the MACD histogram turning positive, suggesting a strong short-term technical outlook [2] - The trading volume significantly exceeded recent averages, with a volume ratio of 1.64 and a turnover rate of 3.29%, indicating increased market participation [2]

Group 1 - The core point of the news is that Liu Chemical Co., Ltd. experienced a stock price increase of 5.25%, reaching 4.01 yuan per share, with a total market capitalization of 3.203 billion yuan [1] - Liu Chemical, established on March 6, 2001, and listed on July 17, 2003, primarily engages in the production and sales of hydrogen peroxide, with its main revenue sources being 84.19% from 27.5% hydrogen peroxide, 15.20% from 50% hydrogen peroxide, and 0.61% from other sources [1] Group 2 - From the perspective of fund holdings, one fund under Taixin Fund has a significant position in Liu Chemical, specifically the Taixin Smart Quantitative Stock Mixed Fund A (013033), which held 71,600 shares, accounting for 2.1% of the fund's net value, ranking as the ninth largest holding [2] - The Taixin Smart Quantitative Stock Mixed Fund A (013033) was established on May 22, 2025, with a latest scale of 12.2062 million yuan and has achieved a year-to-date return of 13.1%, ranking 679 out of 8994 in its category [2] - The fund manager, Zhang Haitao, has been in position for 1 year and 47 days, overseeing total assets of 1.787 billion yuan, with the best return during his tenure being 37.98% and the worst being 0.12% [2]

股票代码：600423 股票简称：柳化股份 公告编号：2026-002 柳州化工股份有限公司 关于公司涉诉进展的公告 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。 ● 案件所处的诉讼阶段：重审一审判决上诉阶段，收到上诉状。 ● 上市公司所处的当事人地位：一审被告、二审被上诉人。 ● 涉案的金额：66,042,150.00 元。 ●是否会对上市公司损益产生负面影响：本案一审原告提起上诉，二审暂未开庭，对公司本期利润或 期后利润影响尚存在不确定性。 1、诉讼基本情况 柳州化工股份有限公司（以下简称"柳化股份"或"公司"）于 2021 年 8 月 25 日、2024 年 2 月 20 日、 2024 年 5 月 29 日、2025 年 7 月 2 日、2025 年 12 月 17 日披露了公司、广西万诚拍卖有限公司（以下简称 "广西万诚"）与山西华信蓝海实业有限责任公司（以下简称"山西华信"）拍卖合同纠纷及其进展（详见 公司在上海证券报及上海证券交易所网站上披露的《关于公司累计涉及诉讼的公告》（公告编号为 2021-019）、《关 ...

Core Viewpoint - Liu Hua Co., Ltd. (600423) has announced a significant decline in its expected net profit for 2025, forecasting a net profit of 6.28 million yuan, a year-on-year decrease of 79.19% [3][6]. Financial Performance - The company anticipates a non-recurring net profit of 6.02 million yuan for 2025, reflecting an 82.12% year-on-year decline [3][6]. - As of January 20, the company's price-to-earnings (P/E) ratio (TTM) is approximately 471.84 times, with a price-to-book (P/B) ratio of about 5.3 times and a price-to-sales (P/S) ratio of around 19.98 times [3]. Market Conditions - Liu Hua's primary business is the production and sale of hydrogen peroxide, which is facing a sluggish market demand in 2025 [6]. - The decline in performance is attributed to the company's reliance on a single product, hydrogen peroxide, with market prices lower than the previous year, leading to decreased sales prices and a slight drop in production volume, which in turn increased unit production costs [6]. Historical Financial Data - Historical net profit and non-recurring net profit data indicate a downward trend, with the expected net profit for 2025 showing a significant drop compared to previous years [7]. - The year-on-year growth rates for net profit and non-recurring net profit have also shown negative trends, with a forecasted decline of 79.19% for net profit in 2025 [7].

Core Viewpoint - Liu Chemical Co., Ltd. (600423.SH) has announced a significant decrease in its expected net profit for the year 2025, projecting a profit of 6.28 million yuan, which represents a decline of 23.89 million yuan or 79.19% compared to the previous year [1] Group 1: Financial Performance - The company anticipates a net profit attributable to shareholders of 6.28 million yuan for 2025 [1] - This figure marks a decrease of 23.89 million yuan from the previous year's reported data [1] - The expected decline in profit is 79.19% year-on-year [1] Group 2: Market Conditions - The primary reason for the profit reduction is the company's reliance on the hydrogen peroxide market, which is currently experiencing weak demand [1] - During the reporting period, the market prices for various hydrogen peroxide products were lower than those of the previous year, leading to a decrease in sales prices [1] - Additionally, the company's production volume saw a slight decline, resulting in increased unit production costs [1] Group 3: Revenue and Profitability - The combination of lower sales prices and reduced production volume has led to a decrease in both operating revenue and gross profit margin compared to the previous year [1]