Core Viewpoint - 中化国际's 2025 semi-annual report indicates a revenue of 24.353 billion yuan and a net profit loss of 0.886 billion yuan, but shows signs of operational improvement and cash flow growth [1] Financial Performance - In Q2 2025, 中化国际's net profit loss narrowed to 0.414 billion yuan, a reduction of 0.069 billion yuan from Q2 2024 and 0.008 billion yuan from Q1 2025, indicating significant marginal improvement [1] - The company generated a net cash flow from operating activities of 0.933 billion yuan in the first half of 2025, a year-on-year increase of 69% [1] Competitive Advantages - 中化国际 has established strong core competitive advantages in high-performance materials through advanced technology, leading production capacity, and integrated supply chains [2] - The gross margin for high-performance materials increased by 5 percentage points year-on-year in the first half of 2025 [2] - The company is focusing on enhancing core product competitiveness and expanding its market presence through technology marketing and overseas sales [2] Product Development and Market Expansion - 中化国际's epoxy resin business benefits from an integrated supply chain and a comprehensive product range, leading to technological barriers through innovation [2] - The company is advancing the development of various epoxy resin types, ranking among the top three in high-bromine, low-bromine, semi-solid, and halogen-free flame-retardant epoxy resins in China [2] - The company has successfully exported epoxy resin products to countries including Indonesia, Thailand, and India, and has achieved the lowest anti-dumping tax rate in India [3] Market Opportunities - The demand for high-performance materials is growing, driven by the development of clean energy, new energy vehicles, and emerging technologies [4] - 中化国际's nylon 66 and modified nylon 66 products are well-positioned to meet the increasing demand in the photovoltaic sector [4] - The demand for epoxy resin in wind power is expected to exceed 450,000 tons by 2030, with significant applications in various energy projects [4] New Product Development - 中化国际 is focusing on new applications in emerging industries such as artificial intelligence and low-altitude economy, aiming to optimize product combinations and enhance solutions [6] - The company plans to develop specialized epoxy resin products for various applications, including high-end electronic packaging and construction [6] Strategic Acquisitions - 中化国际 is pursuing the acquisition of 100% equity in Nantong Xingchen, which is expected to enhance its market competitiveness in the epoxy resin industry and leverage synergies in the engineering plastics sector [7]

Group 1 - The board of directors of Sinochem International (Holdings) Co., Ltd. held its tenth meeting on August 27, 2025, in Beijing, with a quorum present [1] - The board approved the full text and summary of the 2025 semi-annual report [1] - The board also approved the risk assessment report for Sinochem Group Financial Co., Ltd. for the first half of 2025, following a review of its business qualifications and risk status [2] Group 2 - The board agreed to reappoint KPMG Huazhen LLP as the financial and internal control auditing firm for the year 2025, pending approval from the shareholders' meeting [2][3] - The voting results for the reappointment of the auditing firm were unanimous, with 7 votes in favor and no opposition [3]

Core Points - The company held the fifth meeting of the tenth Supervisory Board on August 27, 2025, in Beijing, with all three supervisors present, meeting the legal requirements for quorum [1] - The Supervisory Board approved the full text and summary of the 2025 semi-annual report, with a unanimous vote of 3 in favor, 0 against, and 0 abstentions [1] - The Supervisory Board confirmed that the preparation and review procedures of the 2025 semi-annual report were compliant with laws, regulations, and internal management systems [2] - The content and format of the 2025 semi-annual report meet the requirements of the China Securities Regulatory Commission and the stock exchange, accurately reflecting the company's financial status and operational results for the first half of 2025 [2] - All personnel involved in the preparation and review of the report adhered to confidentiality regulations, ensuring no harm to the interests of the company and its investors [2]

Group 1 - The independent directors of Sinochem International (Holding) Co., Ltd. reviewed the risk assessment report for the first half of 2025 from Sinochem Group Financial Co., Ltd. and found it to be objective and fair [1] - The company possesses the necessary qualifications to conduct its business, and its risk control system does not have significant flaws [1] - Engaging in financial services with Sinochem Group Financial Co., Ltd. is beneficial for improving the company's capital efficiency and aligns with the interests of all shareholders, particularly minority shareholders [1]

Group 1 - The company disclosed its main operating data for the first half of 2025, including production, sales volume, and revenue for key products [1] - Chlorobenzene products had a production volume of 129,943.62 tons, sales volume of 127,172.51 tons, and revenue of 75,723.26 million yuan [1] - The total production volume for caustic soda products was 1,173,138.18 tons, with a sales volume of 390,802.41 tons and revenue of 59,837.47 million yuan [1] Group 2 - The average price of chlorobenzene products decreased by 13% to 6,868.34 yuan per ton compared to the previous period [1] - The average price of caustic soda products decreased by 5% to 1,611.59 yuan per ton [1] - The average price of resin products increased by 8% to 11,635.39 yuan per ton [1] Group 3 - The average price of rubber antioxidants decreased by 11% to 18,978.35 yuan per ton [1] - The average price of benzene, a key raw material, decreased by 26% to 8,187.00 yuan per ton [1] - The average price of coal decreased by 21% to 792.00 yuan per ton [1]

Core Viewpoint - The company has proposed to reappoint KPMG Huazhen as its financial and internal control auditing firm for the fiscal year 2025, following a thorough review by the Audit and Risk Committee and approval by the Board of Directors [1][6]. Group 1: Appointment of Auditing Firm - The proposed auditing firm is KPMG Huazhen, which was established on August 18, 1992, in Beijing and officially began operations on August 1, 2012 [1]. - KPMG Huazhen has 241 partners and 1,309 registered accountants as of December 31, 2024, with over 300 accountants having signed audit reports for securities services [2]. - The firm reported total audited business revenue exceeding RMB 4.1 billion in 2024, with audit service revenue exceeding RMB 4 billion [2]. Group 2: Audit Service Details - KPMG Huazhen audited 127 listed companies in 2024, with total audit fees amounting to approximately RMB 682 million [3]. - Among the audited companies, 59 are in the same industry as the company, indicating relevant experience [3]. - The firm has a cumulative insurance compensation limit and risk fund exceeding RMB 200 million, complying with legal regulations [3]. Group 3: Audit Team Information - The project partner for the company's audit is Duan Yuhua, who has been with KPMG Huazhen since 2001 and has been providing audit services since 2022 [5]. - The signing registered accountant is Gou Jianjun, who has been with the firm since 2008 and started providing audit services for the company in 2023 [5]. - The quality control reviewer is Zhang Nan, who has been with KPMG Huazhen since 2003 and has also been providing audit services since 2023 [5]. Group 4: Audit Fees - The estimated audit fee for the company's financial report and internal control audit for 2025 is RMB 6.88 million, remaining unchanged from the previous year [6]. - The statutory audit fee for overseas subsidiaries is estimated at RMB 1.91 million, reflecting an increase due to inflation and exchange rate changes [6]. - The total estimated fees for both audits amount to RMB 8.79 million, with management authorized to negotiate final fees based on any changes in audit scope [6]. Group 5: Approval Process - The Audit and Risk Committee has reviewed KPMG Huazhen's qualifications and recommended its reappointment, which was approved by the Board of Directors with a unanimous vote [6]. - The appointment is subject to approval by the company's shareholders at the upcoming general meeting [6].

Core Viewpoint - The report evaluates the financial risk assessment of Sinochem International (Holding) Co., Ltd. regarding its subsidiary, Sinochem Group Finance Co., Ltd., highlighting its financial stability and compliance with regulatory requirements [1][17]. Group 1: Company Overview - Sinochem Group Finance Co., Ltd. was established in June 2008 and is approved by the China Banking Regulatory Commission, with a registered capital of 600 million yuan [1][2]. - The company is wholly owned by Sinochem Holdings Corporation, with a shareholding structure comprising Sinochem Holdings (37%), Sinochem Co., Ltd. (35%), and Sinochem Capital Co., Ltd. (28%) [2]. Group 2: Financial Performance - As of June 30, 2025, the total assets of Sinochem Finance were 706.04 billion yuan, with total equity of 130.69 billion yuan [16]. - The company reported deposits from member units amounting to 571.68 billion yuan and issued loans totaling 472.47 billion yuan during the same period [16]. - For the first half of 2025, the company achieved interest income of 6.35 billion yuan and a net profit of 0.93 billion yuan [16]. Group 3: Risk Management and Internal Control - Sinochem Finance has established a comprehensive internal control system, including a risk management department and various operational procedures to mitigate risks associated with its financial activities [3][4]. - The company adheres to strict funding management principles, prioritizing safety, liquidity, and profitability in its operations [5][6]. - The internal control evaluation indicates that the company effectively manages risks related to fund circulation and credit operations, maintaining a reasonable level of overall risk [15]. Group 4: Regulatory Compliance - As of June 30, 2025, Sinochem Finance met all regulatory requirements, including a capital adequacy ratio of 12.33% and a liquidity ratio of 61.45%, both exceeding the minimum standards [16]. - The company has not faced any significant operational risks or regulatory penalties, demonstrating its compliance with the relevant financial regulations [17].

中化国际（控股）股份有限公司 | 证券代码：600500 | 证券简称：中化国际 | | | 编号：2025-050 | | --- | --- | --- | --- | --- | | 债券代码：138949 | 债券简称：23 | 中化 | K1 | | | 债券代码：241598 | 债券简称：24 | 中化 | K1 | | 关于续聘会计师事务所的公告 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： 拟聘任的会计师事务所名称：毕马威华振会计师事务所（特殊普通合伙） （以下简称"毕马威华振"） 中化国际（控股）股份有限公司（以下简称"公司"）于 2025 年 8 月 27 日 召开了第十届董事会第十次会议，会议审议通过了《关于公司续聘 2025 年度财 务审计和内控审计机构的议案》，同意公司续聘毕马威华振会计师事务所（特殊 普通合伙）为公司 2025 年度财务审计和内控审计机构，并同意将该议案提交公 司股东大会审议，具体情况如下： 一、拟聘任会计师事务所的基本情况 （一）机构信息 1.基本信息 毕 ...

| 主要产品 | 2024 年 | 1-6 | 月平 | 2025 年 1-6 | | 月平 | 变动比率 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 均价格（元/吨） | | | 均价格（元/吨） | | | | | 氯苯产品 | | 6,868.34 | | | 5,954.37 | | -13% | | 氯碱产品 | | 1,611.59 | | | 1,531.14 | | -5% | | 树脂产品 | | 11,635.39 | | | 12,584.80 | | 8% | | 橡胶防老剂 | | 18,978.35 | | | 16,842.72 | | -11% | 主要产品 2025 年 1-6 月产 量（吨） 2025 年 1-6 月销 量（吨） 2025 年 1-6 月销 售金额（万元） 氯苯产品 129,943.62 127,172.51 75,723.26 氯碱产品 1,173,138.18 390,802.41 59,837.47 树脂产品 164,669.30 144,996.16 182,474.76 橡胶防老剂 ...

中化国际（控股）股份有限公司关于 中化集团财务有限责任公司2025年半年度风险评估报告 根据上交所《上海证券交易所上市公司自律监管指引第5号—交易与关联交 易》的要求，中化国际（控股）股份有限公司（以下简称"中化国际"或"本公 司"）通过查验中化集团财务有限责任公司的《企业法人营业执照》与《金融许 可证》等资料，并审阅了包括资产负债表、利润表、现金流量表等在内的财务公 司的定期财务报告，对其经营资质、业务和风险状况进行了评估，具体情况报告 如下： 一、 中化集团财务有限责任公司基本情况 中化集团财务有限责任公司（以下简称"公司"或"中化财务公司"）系经 原中国银行业监督管理委员会批准，2008 年 5 月取得金融许可证，于 2008 年 6 月 4 日 在 北 京 成 立 的 有 限 责 任 公 司 。 现 公 司 统 一 社 会 信 用 代 码 为 911100007109354688，注册资本 60 亿元；法定代表人为夏宇。 2025 年 6 月 30 日，经国家金融监督管理总局雄安新区监管分局批准，公司 金融许可证机构编码变更为 L0091H313310001，编号变更为 01122074；经河北雄 安 ...