Group 1 - The company, Hualu Hengsheng, announced that its subsidiary, Hualu Hengsheng (Jingzhou) Co., Ltd., has successfully completed the process for part of its integrated project, which has an annual production capacity of 200,000 tons of BDO, 160,000 tons of NMP, and 30,000 tons of PBAT biodegradable materials [1]

格隆汇8月22日丨华鲁恒升(600426.SH)公布2025年半年度报告，报告期实现营业收入157.64亿元，同比 下降7.14%；归属于上市公司股东的净利润15.69亿元，同比下降29.47%；归属于上市公司股东的扣除非 经常性损益的净利润15.59亿元，同比下降30.29%；基本每股收益0.739元。拟向全体股东每10股派发现 金红利2.50元（含税）。 ...

Core Viewpoint - In the first half of 2025, the company reported a decline in revenue and net profit, indicating challenges in its financial performance compared to the previous year [1][2]. Financial Performance - The company's revenue for the first half of 2025 was 15.764 billion yuan, a year-on-year decrease of 7.14% [1]. - The net profit attributable to shareholders was 1.569 billion yuan, down 29.47% year-on-year [1]. - The basic earnings per share were 0.74 yuan [1]. - The gross margin for the first half of 2025 was 18.01%, a decrease of 3.19 percentage points year-on-year [1]. - The net profit margin was 10.98%, down 3.08 percentage points compared to the same period last year [1]. Quarterly Analysis - In Q2 2025, the gross margin was 19.63%, a year-on-year decrease of 0.96 percentage points but an increase of 3.28 percentage points from the previous quarter [1]. - The net profit margin for Q2 was 12.00%, down 1.90 percentage points year-on-year but up 2.06 percentage points from the previous quarter [1]. Expense Overview - Total operating expenses for the first half of 2025 were 669 million yuan, an increase of 74.89 million yuan year-on-year [2]. - The expense ratio was 4.25%, up 0.74 percentage points from the previous year [2]. - Sales expenses increased by 9.13%, while management expenses decreased by 16.75% [2]. - R&D expenses rose by 38.35%, and financial expenses increased by 4.21% [2]. Shareholder Information - As of the end of the first half of 2025, the total number of shareholders was 52,700, a decrease of 9,447 or 15.20% from the previous quarter [2]. - The average market value per shareholder increased from 755,000 yuan to 873,000 yuan, a growth of 15.63% [2]. Company Overview - The company, Shandong Hualu Hengsheng Chemical Co., Ltd., is located in Dezhou, Shandong Province, and was established on April 26, 2000, with its listing date on June 20, 2002 [2]. - The main business involves the production and sale of urea and methanol, with revenue composition as follows: 48.01% from new energy and new materials, 21.32% from chemical fertilizers, 11.89% from acetic acid and derivatives, 10.18% from other products, 7.34% from organic amines, and 1.26% from other supplementary products [2]. - The company belongs to the basic chemical industry, specifically in agricultural chemical products and nitrogen fertilizers [2].

Core Viewpoint - The company is implementing an action plan focused on "quality improvement, efficiency enhancement, and return to shareholders" to ensure sustainable development and maintain investor trust [1][2]. Group 1: Business Development - The company has established two profit centers, focusing on stable development amidst industry adjustments and structural overcapacity, demonstrating strong resilience and adaptability [1]. - Key projects such as the amide raw material optimization and the integrated production of 200,000 tons/year of dicarboxylic acid, BDO, and NMP are progressing as planned, contributing to high-quality development [1]. - The company is enhancing market presence and optimizing industry layout, leading to increased market share and influence for its main products [1]. Group 2: Shareholder Returns - The company maintains a consistent and reasonable cash dividend policy, proposing a cash dividend of 3.00 yuan per 10 shares for the 2024 annual distribution, with a payout ratio of 32.63% of net profit attributable to shareholders [2]. - The company plans to use 200 million to 300 million yuan for share repurchases to enhance shareholder value, having already repurchased 2.3 million shares for a total expenditure of 48.1 million yuan by the end of June [2]. Group 3: Investor Relations - The company emphasizes compliance and transparency in information disclosure, achieving an "A" rating for its disclosure work for ten consecutive years [3]. - Various communication channels are established to enhance investor relations, including investor meetings, online Q&A sessions, and the release of the 2024 ESG report, which has received high recognition in the capital market [3]. Group 4: Corporate Governance - The company is committed to improving its governance structure and risk management in accordance with relevant laws and regulations, having revised its articles of association and established a rapid response mechanism for public opinion [4]. - Ongoing updates to governance policies are being made to align with new legal requirements and enhance operational standards [4].

Investment Overview - The company is investing in a gasification platform upgrade project with a total estimated investment of 3.039 billion yuan [1][2] - The project aims to enhance the competitiveness of the company's products by upgrading technology and improving efficiency [1][2] Project Details - The project will replace existing gasification units while maintaining the same coal consumption, producing synthetic gas with a total production capacity of 450,900 Nm3/h [2][3] - The construction period for the project is estimated to be 18 months [2] - The project is expected to generate an average annual revenue of 3.665 billion yuan upon completion [2][3] Board Approval - The board of directors approved the investment project with unanimous support (11 votes in favor, 0 against, 0 abstentions) [2] - The project does not constitute a related party transaction or a major asset restructuring [2] Impact on the Company - The project is anticipated to improve production efficiency and operational effectiveness, aligning with the company's long-term strategic goals [3] - The project is not expected to have a significant impact on the company's operating performance in 2025 [3] Risk Analysis - The project faces potential funding risks due to uncertainties in financing conditions and policies [3][5] - Environmental policy changes and industry conditions may increase project costs and operational expenses [5] - The company plans to mitigate these risks by optimizing financing strategies and adhering to environmental standards [5]

证券代码：600426 证券简称：华鲁恒升 编号：临 2025-046 关于公司 2021 年限制性股票激励计划预留授予的限制性 股票第二个限售期解除限售条件成就的公告 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： ● 本次符合解除限售条件的激励对象：预留授予 27 人。 ● 本次解除限售股票数量：279,999 股 ● 公司将在办理完毕相关解除限售申请手续后，股份上市流通前，发布限制性股 票解除限售暨股份上市公告。 山东华鲁恒升化工股份有限公司（以下简称"公司"）于 2025 年 8 月 21 日召开第 九届董事会第六次会议和第九届监事会第六次会议，审议并通过了《关于公司 2021 年 限制性股票激励计划预留授予的限制性股票第二个限售期符合解除限售条件的议案》。 现将具体情况公告如下： 一、公司 2021 年限制性股票激励计划实施情况 监事会 2021 年第 2 次临时会议审议通过了《公司 2021 年限制性股票激励计划（草案） 及其摘要》、 《公司 2021 年限制性股票激励管理办法》、 《公司 2 ...

证券代码：600426 证券简称：华鲁恒升 编号：临 2025-049 山东华鲁恒升化工股份有限公司 控股子公司一体化项目部分装置投产公告 提高其综合竞争力，符合公司的发展战略和长期规划。 二、项目基本情况 一体化项目以电石为原料，通过炔醛法生产 1.4 丁二醇（简称："BDO"）；以 BDO 为原料，生产 N-甲基吡咯烷酮（简称："NMP"）产品和聚己二酸/对苯二甲酸丁 二醇酯（简称："PBAT"）产品。项目设计产能为年产 20 万吨 BDO、16 万吨 NMP 及 3 万吨 PBAT 生物可降解材料。 根据可行性研究报告测算，一体化项目预计总投资 33.87 亿元，项目建设资金由 控股子公司自有资金和银行贷款解决。 三、项目对公司的影响 目前，一体化项目投产的部分装置包括BDO、NMP相关装置，可新增20万吨/年BDO、 5万吨/年NMP产品生产能力。该部分装置建成投产可进一步丰富控股子公司产品结构， 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。 山东华鲁恒升化工股份有限公司（以下简称 "公司"）控股子公司华鲁恒升 ...

山东华鲁恒升化工股份有限公司2025 年半年度报告摘要 公司代码：600426 公司简称：华鲁恒升 山东华鲁恒升化工股份有限公司 2025 年半年度报告摘要 山东华鲁恒升化工股份有限公司2025 年半年度报告摘要 第一节 重要提示 1.1 本半年度报告摘要来自半年度报告全文，为全面了解本公司的经营成果、财务状况及未来发 展规划，投资者应当到 http://www.sse.com.cn 网站仔细阅读半年度报告全文。 1.2 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。 1.3 公司全体董事出席董事会会议。 1.4 本半年度报告未经审计。 2.1 公司简介 | | | 公司股票简况 | | | | --- | --- | --- | --- | --- | | 股票种类 | 股票上市交易所 | 股票简称 | 股票代码 | 变更前股票简称 | | A股 | 上海证券交易所 | 华鲁恒升 | 600426 | 不适用 | | 联系人和联系方式 | 董事会秘书 | 证券事务代表 | | --- | --- ...

证券代码：600426 证券简称：华鲁恒升 编号：临 2025-048 山东华鲁恒升化工股份有限公司 2025 年半年度主要经营数据的公告 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。 根据上海证券交易所《关于做好主板上市公司 2025 年半年度报告披露工作的通 知》、《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》的要求，山 东华鲁恒升化工股份有限公司（以下简称"公司"）现将 2025 年半年度主要经营数 据披露如下： 注：新能源新材料相关产品生产量与销售量差距较大，主要原因是部分中间产品 自用。 二、主要产品及原材料的价格变动情况 （一）主要产品的价格变动情况 | 主要产品 | 单位 | 价格变动情况 （不含税） | 价格变动情况说明 | | --- | --- | --- | --- | | 尿素 | 元/吨 | 1450-2060 | 报告期内，国内尿素价格先扬后抑，始终处于偏低 | | | | | 水平震荡。 | | 异辛醇 | 元/吨 | 6280-7080 | 报告期内，受新增产能及终端出口 ...

二、审议通过《关于公司 2025 年半年度利润分配预案的议案》。 表决结果：同意 3 票，反对 0 票，弃权 0 票。 监事会认为：董事会提出的 2025 年半年度利润分配预案符合《公司法》、《上市公 司监管指引第 3 号—上市公司现金分红》、《公司章程》等法律、法规及相关规定的要 求，履行了相应的决策程序,符合公司持续、稳定的利润分配政策，未损害中小股东的 合法权益，符合公司和全体股东的利益，同意本次利润分配预案并提交公司股东大会 审议表决。 证券代码：600426 证券简称：华鲁恒升 编号：临 2025-043 山东华鲁恒升化工股份有限公司 第九届监事会第六次会议决议公告 本公司监事会及全体监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。 山东华鲁恒升化工股份有限公司第九届监事会第六次会议于 2025 年 8 月 21 日 在公司会议室以现场加通讯方式召开。本次会议的召开通知已于 2025 年 8 月 11 日 以通讯方式下发，会议应参会监事 3 人，实际参会监事 3 人，监事王笃平先生以通 讯方式参会。会议符合《公司法》和《公司章程》 ...