Group 1 - The core viewpoint of the articles highlights the financial performance and market position of Unified Holdings, which operates in the oil industry, showing a significant disparity between its high PE ratio and the industry average [1][2] - Unified Holdings' closing stock price is 19.17 yuan, with a decline of 3.08%, resulting in a rolling PE ratio of 110.59 times, while the industry average PE ratio is 13.16 times [1][2] - The total market capitalization of Unified Holdings is 3.681 billion yuan, ranking 20th in the oil industry based on PE ratio [1][2] Group 2 - As of March 31, 2025, Unified Holdings has 35,222 shareholders, a decrease of 2,815 from the previous count, with an average holding value of 352,800 yuan and an average shareholding of 27,600 shares [1] - The company specializes in the research, production, and sales of lubricants, with key products including gasoline engine oil, diesel engine oil, and various specialized oils [1] - Unified Holdings has received multiple accolades, including five national energy-saving product awards and over 300 certifications, with 176 being international certifications [1]

Core Viewpoint - The Chinese lubricating oil industry is guided by a series of government policies aimed at promoting high-end lubricating oil development and large-scale industrial growth, with a focus on green development and resource recycling. Policy History - The policy history indicates a continuous effort to guide the lubricating oil industry, emphasizing the development of synthetic base oils and recycling technologies during the "12th Five-Year Plan" period, encouraging low-temperature Fischer-Tropsch synthesis oil production during the "13th Five-Year Plan," and promoting high-quality development of the petrochemical industry in the "14th Five-Year Plan" [1]. National Policy Summary and Interpretation - The management of the lubricating oil industry is primarily reflected in the formulation of industrial policies, strategic planning, and optimization of the development environment, focusing on green development and supporting business operations [4]. Policy Details - A summary of key policies includes: - **2024.11**: Encouragement for high-end chemical manufacturing [5] - **2024.09**: Guidelines for agricultural machinery maintenance [5] - **2024.05**: Suspension of certain tariff reductions on lubricating oil products from Taiwan [5] - **2023.10**: Guidance on promoting green innovation in the refining industry [5] - **2022.08**: Establishment of a carbon emission accounting system [6] - **2021.11**: Promotion of clean production audits across various industries [6] Provincial Policy Summary - Various provinces are focusing on high-end lubricating oil development, with some also promoting high-end lubricating oil additives and foundational industries to enhance the entire lubricating oil supply chain towards high-end and green development [13]. Industrial Green Development Planning - The "14th Five-Year Plan for Industrial Green Development" aims for a 13.5% reduction in energy consumption per unit of industrial added value by 2025, with significant improvements in resource utilization and pollution reduction [10][11]. Energy Efficiency Standards - The 2023 version of the energy efficiency benchmark levels expands the scope of energy efficiency constraints, adding 11 new sectors, including the petrochemical industry, which accounts for approximately 80% of the total energy consumption in the industry [9]. Conclusion - The policies and plans outlined reflect a comprehensive approach to enhancing the lubricating oil industry in China, focusing on sustainability, innovation, and high-quality development, which are crucial for future growth and competitiveness in the global market [12][13].

Group 1: Core Insights - The core composition of lubricating oil consists of base oil and additives, where base oil is the primary component determining the fundamental properties of the lubricating oil, while additives enhance and improve the performance of base oil [1] Group 2: Changes in China's Base Oil Capacity - The rapid expansion phase of China's base oil capacity has ended, with total capacity expected to reach 21.82 million tons per year by the end of 2024, reflecting a compound annual growth rate (CAGR) of 1% from 2020 to 2024 [3] - The growth in base oil capacity is shifting towards larger-scale production and the development of higher-grade base oils, such as Class II and Class III base oils [3] - A decline in base oil capacity growth is anticipated in 2024, primarily due to the removal of ineffective capacity and the shutdown of long-idled recycling oil facilities [3] Group 3: Regional Distribution of Base Oil Capacity - In 2024, the East China region is projected to have a capacity of 8.83 million tons, accounting for 40% of the total capacity, making it a major consumption area for base oil products [5] - The East China region benefits from favorable transportation conditions, facilitating the input of raw materials and the output of products, which supports the upstream and downstream industrial chain [5] Group 4: Supply and Demand of Lubricating Oil Additives - Domestic production of lubricating oil additives has increased from 583,000 tons in 2015 to 878,000 tons in 2022, with a CAGR of 6.02% [8] - The apparent consumption of lubricating oil additives in China was approximately 950,400 tons in 2022, with an annual average growth rate of 2.24% from 2015 to 2022 [8] - Preliminary estimates suggest that by 2024, the production and consumption of lubricating oil additives in China will reach 987,000 tons and 993,500 tons, respectively [8] Group 5: Impact of Supporting Industry Layout on Lubricating Oil Development - The layout of the base oil and additive industries significantly influences the development of the lubricating oil sector, as the quality and stability of base oil supply directly affect the performance and cost of lubricating oil [10] - China's increasing base oil production and decreasing reliance on imports provide a more stable supply of raw materials, which helps stabilize costs and ensure production [10] - Continuous technological advancements in the additive industry and accelerated domestic substitution processes enhance the overall competitiveness of the lubricating oil sector [10]

华龙证券股份有限公司 关于 统一低碳科技（新疆）股份有限公司 全资子公司增资之重大资产重组 实施情况 独立财务顾问核查意见 独立财务顾问 二〇二五年六月 之 独立财务顾问声明与承诺 华龙证券股份有限公司（以下简称"华龙证券"）接受统一低碳科技（新疆） 股份有限公司（以下简称"统一股份"）的委托，担任本次统一股份全资子公司增 资之重大资产重组之独立财务顾问。 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司重大 资产重组管理办法》《公开发行证券的公司信息披露内容与格式准则第 26 号— 上市公司重大资产重组》等有关法律、法规的要求，按照证券行业公认的业务规 范，本着诚实守信、勤勉尽责的精神，遵循独立、客观、公正的原则，在认真审 阅各方所提供的相关资料并充分了解本次交易行为的基础上，本独立财务顾问出 具了本核查意见。 1、本核查意见所依据的文件、材料由本次交易的相关各方向本独立财务顾 问提供。相关各方已承诺在本次交易过程中所提供的信息真实、准确、完整，不 存在虚假记载、误导性陈述或者重大遗漏。本独立财务顾问不承担由此引起的任 何风险责任。 2、本核查意见是基于相关各方均按相关协议的条款和承诺全面履行 ...

北京市中伦律师事务所 关于统一低碳科技（新疆）股份有限公司 全资子公司增资之重大资产重组 实施情况的法律意见书 二〇二五年六月 法律意见书 北京市中伦律师事务所 关于统一低碳科技（新疆）股份有限公司全资子公司增资之 重大资产重组实施情况的法律意见书 致：统一低碳科技（新疆）股份有限公司 北京市中伦律师事务所（以下简称"本所"）接受统一低碳科技（新疆）股 份有限公司（以下简称"上市公司"）委托，担任上市公司的全资子公司统一石 油化工有限公司（以下简称"统一石化"）通过产权交易所公开挂牌增资扩股事 项（以下简称"本次交易"）的专项法律顾问。 本所已根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司 重大资产重组管理办法》《律师事务所从事证券法律业务管理办法》及《律师事 务所证券法律业务执行规则（试行）》等相关法律、法规及规范性文件的规定并 按照律师行业公认的业务标准、道德规范和勤勉尽责精神，对上市公司已经提供 的与其本次交易有关的文件和事实进行了核查和验证，并出具了《北京市中伦律 师事务所关于统一低碳科技（新疆）股份有限公司全资子公司增资之重大资产重 组的法律意见书》（以下简称"《原法律意见书》"）。 ...

证券代码：600506 证券简称：统一股份 上市地点：上海证券交易所 全资子公司增资 之 统一低碳科技（新疆）股份有限公司 重大资产重组 实施情况报告书 独立财务顾问 二〇二五年六月 上市公司声明 本公司及全体董事会成员保证本报告书的内容真实、准确和完整，不存在虚 假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 本次交易有关监管部门对本次交易事项所作的任何决定或意见，均不代表其 对本公司股票的价值或投资者收益的实质性判断或保证。任何与之相反的声明均 属虚假不实陈述。 本次交易完成后，本公司经营与收益的变化由本公司自行负责；因本次交易 引致的投资风险由投资者自行负责。投资者在评价本次交易时，除本报告书内容 以及与本报告书同时披露的相关文件外，还应认真考虑《统一低碳科技（新疆） 股份有限公司全资子公司增资之重大资产重组报告书（草案）（修订稿）》披露 的各种风险因素。投资者若对本报告书存在任何疑问，应咨询自己的股票经纪人、 律师、专业会计师或其他专业顾问。 本公司特别提请广大投资者认真阅读《统一低碳科技（新疆）股份有限公司 全资子公司增资之重大资产重组报告书（草案）（修订稿）》全文和与本次交易 有关的 ...

Group 1 - The core opinion of the legal opinion letter is that the transaction involving the capital increase of the wholly-owned subsidiary of Unified Low Carbon Technology (Xinjiang) Co., Ltd. has been implemented in accordance with relevant laws and regulations [1][2][11] - The transaction involves an increase in capital of 400 million yuan by Keqiao Lingtou, which will hold 21.91% of the equity in Unified Petrochemical after the transaction [3][6] - The funds from the capital increase will be used for research and development projects related to new energy liquid cooling oil and special lubricants, as well as to supplement working capital [3][4] Group 2 - The decision-making and approval process for the transaction has been completed, including approvals from the company's board of directors and independent directors [7][8] - The payment of the capital increase has been completed, and the registration of the change in equity structure has been processed, with the registered capital of Unified Petrochemical now at 444.0267685 million yuan [9][10] - There are no significant discrepancies between the actual situation of the transaction and the previously disclosed information [9][10]

Group 1 - The core viewpoint of the article is that the company, Unified Low Carbon Technology (Xinjiang) Co., Ltd., is undergoing a significant asset restructuring through the capital increase of its wholly-owned subsidiary, Unified Petrochemical Co., Ltd., to enhance its financial strength and expand its business in the low-carbon sector [1][10][11] - The transaction involves raising funds of 400 million yuan from the investor, Keqiao Lingtu, which will hold a 21.91% stake in Unified Petrochemical after the capital increase [8][9] - The funds raised will be used for the research and development of new energy liquid cooling oils and special lubricants, as well as to supplement working capital, thereby improving the company's financial situation and competitive position in the industry [8][10] Group 2 - The background of the transaction highlights the ongoing green and low-carbon development policies in China, aiming for a significant transformation in energy structure and resource utilization efficiency by 2030 and 2035 [5][6] - The rapid growth of the new energy vehicle industry in China, with production and sales reaching approximately 12.89 million units in 2024, has increased the demand for low-carbon oil products suitable for this sector [6][7] - The transaction is classified as a major asset restructuring but does not constitute a related party transaction or a restructuring listing, as it does not involve changes in control of the company [10][11]

Group 1 - The core viewpoint of the articles highlights the financial performance and market position of Unified Low Carbon Technology (Xinjiang) Co., Ltd, particularly its high PE ratio compared to industry averages [1][2] - As of June 10, the closing price of Unified shares was 18.58 yuan, with a PE ratio of 107.18, significantly higher than the industry average of 12.84 and median of 27.43 [1][2] - The total market capitalization of Unified is reported at 3.568 billion yuan, ranking it 20th in the oil industry based on PE ratio [1][2] Group 2 - Unified's main business involves the research, production, and sales of lubricants, with key products including gasoline engine oil, diesel engine oil, and various specialized oils [1] - The company has received multiple accolades, including 5 national energy-saving product awards and over 300 certifications, with 176 being international certifications [1] - For the first quarter of 2025, Unified reported revenue of 747 million yuan, a year-on-year decrease of 1.28%, while net profit was 41.36 million yuan, reflecting a year-on-year increase of 4.81% [1]

北京市中伦律师事务所 关于统一低碳科技（新疆）股份有限公司 全资子公司增资之重大资产重组 实施情况的法律意见书 二〇二五年六月 法律意见书 北京市中伦律师事务所 关于统一低碳科技（新疆）股份有限公司全资子公司增资之 重大资产重组实施情况的法律意见书 致：统一低碳科技（新疆）股份有限公司 北京市中伦律师事务所（以下简称"本所"）接受统一低碳科技（新疆）股 份有限公司（以下简称"上市公司"）委托，担任上市公司的全资子公司统一石 油化工有限公司（以下简称"统一石化"）通过产权交易所公开挂牌增资扩股事 项（以下简称"本次交易"）的专项法律顾问。 本所已根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司 重大资产重组管理办法》《律师事务所从事证券法律业务管理办法》及《律师事 务所证券法律业务执行规则（试行）》等相关法律、法规及规范性文件的规定并 按照律师行业公认的业务标准、道德规范和勤勉尽责精神，对上市公司已经提供 的与其本次交易有关的文件和事实进行了核查和验证，并出具了《北京市中伦律 师事务所关于统一低碳科技（新疆）股份有限公司全资子公司增资之重大资产重 组的法律意见书》（以下简称"《原法律意见书》"）。 ...