Core Viewpoint - Zhonghua International is taking measures to mitigate losses due to its subsidiary, Ningxia Zhonghua Lithium Battery Materials Co., Ltd., facing insolvency and ongoing operational losses [1][2]. Financial Performance of Ningxia Zhonghua - As of December 31, 2024, Ningxia Zhonghua had total assets of 278 million yuan and total liabilities of 301 million yuan, resulting in a net loss of 525 million yuan on revenue of 155 million yuan [1]. - By June 30, 2025, total assets decreased to 244 million yuan, with total liabilities at 288 million yuan, and a net loss of 21.58 million yuan on revenue of 88.14 million yuan for the first half of 2025 [1][2]. - The debt-to-asset ratio reached 118.2% by June 30, 2025, indicating severe financial distress [2]. Implications for Zhonghua International - Zhonghua International has recognized a total receivable of 256 million yuan from Ningxia Zhonghua, with a provision for bad debts amounting to 34.58 million yuan [2]. - The company has fully provisioned for a long-term equity investment of 470 million yuan in Ningxia Zhonghua, resulting in a net value of zero [2]. - Following the court's acceptance of the bankruptcy reorganization application, Ningxia Zhonghua will be excluded from Zhonghua International's consolidated financial statements [2]. Overall Performance of Zhonghua International - For the fiscal year 2024, Zhonghua International reported revenues of 52.93 billion yuan, a decrease of 2.48% year-on-year, and a net loss of 2.84 billion yuan, reflecting a 53.52% decline [3]. - In the first half of 2025, revenues were 24.35 billion yuan, down 5.83% year-on-year, with a net loss of 888 million yuan [3].

Core Viewpoint - Zhonghua International announced the appointment of Mr. Pu Jiang as the secretary of the company's board of directors [2] Company Summary - The board of directors of Zhonghua International has approved the hiring of Mr. Pu Jiang [2]

Group 1 - The core viewpoint of the article highlights the recent turmoil within Sinochem International, including the acquisition of its subsidiary by DuPont and the bankruptcy restructuring of its lithium battery materials subsidiary due to ongoing losses and inability to pay debts [3][4]. - Sinochem International's subsidiary, Ningxia Sinochem Lithium Battery Materials Co., has been approved for bankruptcy restructuring by the board, as it has been operating at a loss and is unable to meet its financial obligations [4][5]. - The company plans to introduce strategic investors during the restructuring process to improve its financial structure and aims to restore its operational viability [4][5]. Group 2 - The lithium battery industry is experiencing significant changes, with a rapid decline in the market share of ternary lithium batteries and a corresponding increase in demand for lithium iron phosphate materials [5][6]. - In 2024, the revenue of Chinese ternary material companies dropped by 49% year-on-year, with four out of six companies reporting losses, indicating a challenging market environment [5]. - Despite the downturn, there was a 11% year-on-year increase in the shipment volume of ternary materials in the first quarter of 2025, driven by increased overseas demand [5][6]. Group 3 - Emerging applications such as robotics, low-altitude economy, and solid-state batteries are becoming new growth points for ternary materials, with leading companies maintaining a focus on high-nickel routes [7]. - CATL announced plans to launch a new high-nickel ternary battery by 2026, aiming to regain technological and market advantages in the ternary battery sector [7][8].

Core Viewpoint - Zhonghua International (600500) has announced the bankruptcy reorganization of its subsidiary, Ningxia Zhonghua Lithium Battery Materials Co., Ltd., due to continuous losses and inability to repay debts [1]. Financial Performance - As of October 13, 2025, Zhonghua International's stock closed at 4.26 yuan, down 2.07% from the previous trading day, with a total market capitalization of 15.287 billion yuan [1]. - The stock opened at 4.23 yuan, reached a high of 4.28 yuan, and a low of 4.19 yuan, with a trading volume of 1.16 billion yuan and a turnover rate of 0.76% [1]. - As of June 30, 2025, Ningxia Lithium had total assets of 243.94 million yuan and total liabilities of 288.33 million yuan, resulting in a net loss of 21.58 million yuan for the first half of 2025 [1]. Bankruptcy Reorganization - The board of directors approved the proposal for Ningxia Lithium to apply for bankruptcy reorganization due to external market conditions leading to sustained losses and insolvency [1]. - The company has fully provided for impairment on its long-term equity investment of 47 million yuan in Ningxia Lithium, with net receivables amounting to 22.10 million yuan [1]. - Zhonghua International had guaranteed a loan of 22.64 million yuan for Ningxia Lithium, with no other guarantees involved [1]. - Following the bankruptcy reorganization, Ningxia Lithium will no longer be included in the consolidated financial statements, and the specific impact will depend on the court's acceptance and the reorganization plan [1].

2024年1至12月份，中化国际的营业收入构成为：化工新材料行业占比39.28%，其他占比31.04%，农药 占比29.68%。 截至发稿，中化国际市值为153亿元。 每经AI快讯，中化国际（SH 600500，收盘价：4.26元）10月13日晚间发布公告称，柯希霆先生因工作 调整申请辞去公司董事会秘书职务。辞职后柯希霆先生将继续在公司担任其他职务。经董事会提名与公 司治理委员会审查通过，董事会同意聘任浦江先生为公司董事会秘书。 每经头条（nbdtoutiao）——AI技术滥用调查：明星可被"一键换装"，"擦边"内容成流量密码，技术防 线为何形同虚设？ （记者 王晓波） ...

证券代码：600500 证券简称：中化国际 公告编号：2025-061 柯希霆先生在担任公司董事会秘书期间恪尽职守、勤勉尽责，在公司信息 披露、规范治理、资本运作、投资者关系管理等方面发挥了重要作用，公司董事 会对其在任职期间为公司做出的贡献表示衷心感谢！ 二、离任对公司的影响 根据《公司法》、《公司章程》、《上海证券交易所股票上市规则》等相关规 定，柯希霆先生的辞呈自送达公司之日起生效，辞职后柯希霆先生将继续在公司 担任其他职务。柯希霆先生已按照公司相关规定做好交接工作，不存在未履行完 毕的公开承诺，其离任董事会秘书职务不会影响公司正常的经营发展。 姓名 离任职务 离任时间 原定任期到 期日 离任 原因 是否继续 在上市公 司及其控 股子公司 任职 具体职务 （如适用） 是否存 在未履 行完毕 的公开 承诺 柯希霆 董事会秘书 2025 年 10 月 13 日 2028 年 2 月 13 日 工作 调整 是 其他职务 否 一、提前离任的基本情况 截至本公告日，柯希霆先生共持有 673,000 股公司股票。离任后，柯希霆 先生将继续按照相关法律、法规及规范性文件的规定对其股份进行管理。 中化国际（控股）股份有 ...

中化国际（控股）股份有限公司（以下简称"公司"）第十届董事会第十二 次会议于 2025 年 10 月 13 日以通讯表决的方式召开。会议应到董事 7 名，实到 董事 7 名，出席会议董事超过全体董事的半数。会议符合《公司法》、《公司章 程》及《董事会议事规则》的有关规定。经认真讨论，会议审议通过以下决议： | 证券代码：600500 | 证券简称：中化国际 | 编号：2025-059 | | --- | --- | --- | | 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 | | 中化国际（控股）股份有限公司 第十届董事会第十二次会议决议公告 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个别及连带责任。 二、同意《关于公司董事会秘书变动的议案》。 公司董事会收到柯希霆先生的书面辞呈，柯希霆先生因工作调整申请辞去 公司董事会秘书职务。经董事会提名与公司治理委员会审查通过，董事会同意 聘任浦江先生为公司董事会秘书，任期自董事会审议通过之日起至第十届董事 会任期届满之 ...

每经头条（nbdtoutiao）——AI技术滥用调查：明星可被"一键换装"，"擦边"内容成流量密码，技术防 线为何形同虚设？ （记者 曾健辉） 2024年1至12月份，中化国际的营业收入构成为：化工新材料行业占比39.28%，其他占比31.04%，农药 占比29.68%。 截至发稿，中化国际市值为153亿元。 每经AI快讯，中化国际（SH 600500，收盘价：4.26元）10月13日晚间发布公告称，公司第十届第十二 次董事会会议于2025年10月13日以通讯表决的方式召开。会议审议了《关于宁夏锂电破产重整方案的议 案》等文件。 ...

| 证券代码：600500 | 证券简称：中化国际 | 编号：2025-060 | | --- | --- | --- | | 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 | | 中化国际（控股）股份有限公司 关于控股子公司申请破产重整的公告 7、股权结构：宁夏锂电系中化国际控股子公司，公司持有其94%的股权， 其余股东及所持股比为：杜柯持股4.2%、中南大学资产经营有限公司持股1.8%。 8、经营范围包括许可项目：危险化学品经营（依法须经批准的项目，经 相关部门批准后方可开展经营活动）一般项目：电子专用设备制造；电子专用 材料销售；基础化学原料制造（不含危险化学品等许可类化学品的制造）（除 许可业务外，可自主依法经营法律法规非禁止或限制的项目）。 9、最近一年及一期的主要财务数据 截至2024年12月31日，该公司资产总额为27,781.27万元，负债总额为 30,107.74万元；2024年营业收入15,501.93万元，净利润-52,494.13万元。 （上述财务数据为经审计数） 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 ...

Core Viewpoint - Zhonghua International's subsidiary, Ningxia Zhonghua Lithium Battery Materials Co., Ltd., is facing significant financial distress, leading to a decision to apply for bankruptcy reorganization to avoid liquidation and improve its financial situation [1] Financial Performance - As of June 30, 2025, Ningxia Lithium's total assets amounted to 244 million yuan, while total liabilities reached 288 million yuan, indicating a negative net asset position [1] - For the first half of 2025, the company reported a net loss of 21.58 million yuan, highlighting ongoing operational challenges [1] Strategic Actions - The board has approved the application for bankruptcy reorganization, which aims to attract strategic investors, improve the asset-liability structure, and restore the company's viability [1] - The reorganization is intended to enhance asset utilization efficiency, control potential investment losses, and protect shareholder interests [1]