山东鲁北化工股份有限公司 定期报告编制及披露管理制度 （2025 年 8 月制定） 第一章 总 则 第一条 为规范山东鲁北化工股份有限公司（以下简称"公司"）定期报告的 编制和披露流程，确保公司披露信息的真实、准确、完整、及时，认真履行上市 公司信息披露义务，维护投资者和公司的合法权益。根据《中华人民共和国公司 法》(以下简称"《公司法》")、《中华人民共和国证券法》（以下简称"《证券法》"）、 《上市公司信息披露管理办法》、《上海证券交易所股票上市规则》等法律法规及 规范性文件以及公司制定的《信息披露制度》、《独立董事工作细则》、《董事会审 计委员会工作细则》、《独立董事年报工作制度》、《审计委员会年报工作制度》、 《年报信息披露重大差错责任追究制度》等相关规定的要求，特制定本制度。 第二条 公司定期报告包括年度报告、半年度报告和季度报告。年度报告中 的财务会计报告应当经符合《证券法》规定的会计师事务所审计。在会计年度、 半年度、季度报告结束后，公司应当及时根据中国证监会和上海证券交易所关于 编制定期报告的相关最新规定编制和披露定期报告。 第二章 董事、高级管理人员和其他相关人员的职责 第三条 公司董事、高 ...

山东鲁北化工股份有限公司 董事、高级管理人员离职管理制度 （2025 年 8 月制定） 第一章 总则 第一条 为规范山东鲁北化工股份有限公司（以下简称"公司"）董事、高 级管理人员离职相关事宜，确保公司治理结构的稳定性和连续性，维护公司及股 东的合法权益，公司根据《中华人民共和国公司法》（以下简称"《公司法》"） 《上市公司章程指引》等法律法规、规范性文件及《公司章程》的有关规定，结 合公司实际情况，制定本制度。 （二）审计委员会成员辞任导致审计委员会成员低于法定最低人数，或者欠 缺会计专业人士。 （三）独立董事辞任导致上市公司董事会或者其专门委员会中独立董事所占 比例不符合法律法规或者《公司章程》规定，或者独立董事中欠缺会计专业人士。 第五条 董事提出辞职的，公司应当在 60 日内完成补选，确保董事会及其专 门委员会构成符合法律、行政法规和《公司章程》的规定。 第六条 公司董事、高级管理人员在任职期间出现下列情形的，公司应当依 法解除其职务： （一）无民事行为能力或者限制民事行为能力； （二）因贪污、贿赂、侵占财产、挪用财产或者破坏社会主义市场经济秩序， 被判处刑罚，或者因犯罪被剥夺政治权利，执行期满未逾五 ...

山东鲁北化工股份有限公司 内幕信息知情人管理制度 （2025 年 8 月修订） 第一章 总 则 第一条 为进一步加强山东鲁北化工股份有限公司（以下简称"公司"）内幕 信息管理，做好内幕信息保密工作，维护公司信息披露的公开、公平、公正原则， 保护广大投资者的合法权益，根据《公司法》、《证券法》、《上市公司信息披露管理 办法》、《上海证券交易所股票上市规则》等有关法律、法规、规章及《公司章程》 等规定，结合公司实际情况，制定本制度。 第二条 公司内幕信息管理工作由公司董事会负责，董事会秘书为公司内幕信 息保密工作负责人并组织实施。当董事会秘书不能履行职责时，由证券事务代表代 行董事会秘书职责。证券部为公司内幕信息监督、管理、登记及备案的日常工作部 门，负责证券监管机构、证券交易所、证券公司等机构及新闻媒体、股东的接待、 咨询、服务工作。董事会秘书应当对备案名单的真实性、准确性和完整性负责。 第三条 未经董事会批准同意或授权，公司任何部门和个人不得向外界泄露、 报道、传送涉及公司内幕信息及拟披露信息的内容。对外报道、传送的文件、软（磁） 盘、录音（像）带、光盘等涉及内幕信息及拟披露信息的内容或资料，须经董事会 审核 ...

第一条 为促进山东鲁北化工股份有限公司（以下简称"公司"）规范化运 作，提高公司治理水平，充分发挥董事会秘书的作用，规范董事会秘书的选任、 履职工作，根据《公司法》、《证券法》、《上海证券交易所股票上市规则》等法律 法规和其他规范性文件和《公司章程》的规定，制订本制度。 第二条 董事会秘书为公司高级管理人员，由董事长提名、董事会聘任或解 聘，对公司和董事会负责，应忠实、勤勉地履行职责。董事会秘书负责公司股东 会和董事会会议的筹备、文件保管以及公司股东资料的管理，办理信息披露事务 等事宜。 第三条 董事会秘书是公司与上海证券交易所之间的指定联络人。 第四条 公司应当为董事会秘书履行职责提供便利条件，董事、其他高级管 理人员和相关工作人员应当支持、配合董事会秘书的工作。 山东鲁北化工股份有限公司 董事会秘书工作制度 （2025 年 8 月修订） 第一章 总则 第五条 董事会秘书为履行职责，有权了解公司的财务和经营情况，查阅其 职责范围内的所有文件，并要求公司有关部门和人员及时提供相关资料和信息。 第六条 公司设立证券部办公室，由董事会秘书分管，负责公司信息披露、 公司治理、股权管理等相关事务。 第二章 选任 第七 ...

[Important Notice](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The Board ensures the semi-annual report's authenticity, accuracy, and completeness, while advising investors on risks associated with forward-looking statements - The company's Board of Directors, directors, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report, assuming joint and several liability[3](index=3&type=chunk) - This semi-annual report is **unaudited**[5](index=5&type=chunk) - The profit distribution or capitalization of capital reserve plan for this reporting period is "**None**"[6](index=6&type=chunk) - Forward-looking statements regarding future plans and development strategies do not constitute substantive commitments to investors, who should be aware of investment risks[6](index=6&type=chunk) - There is **no non-operational occupation of funds** by the controlling shareholder or other related parties[7](index=7&type=chunk) - There are **no instances of providing external guarantees** in violation of prescribed decision-making procedures[8](index=8&type=chunk) [Definitions](index=4&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8A%E4%B9%89) This section defines commonly used terms in the report, including the Company, CSRC, Lubei Group, Jinjiang Group, and its subsidiaries - "Company," "the Company," or "Listed Company" refers to Shandong Lubei Chemical Co, Ltd[16](index=16&type=chunk) - "Lubei Group" refers to Shandong Lubei Enterprise Group Corporation[16](index=16&type=chunk) - The report defines names of related parties or subsidiaries such as Jinjiang Group, Jinsheng Chemical, Mengda Titanium, Binhua Changfeng, Jinyi Technology, Jinhai Titanium, Xianghai Technology, Chuangling Technology, Yuanhai Technology, Zirconium Titanium New Materials, and Lubei Supply Chain[16](index=16&type=chunk) [Company Profile and Key Financial Indicators](index=4&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section details the company's basic information, financial data, and non-recurring profit and loss items, showing a year-on-year decline in operating revenue and total profit - The company's Chinese name is 山东鲁北化工股份有限公司, its Chinese abbreviation is 鲁北化工, and its legal representative is Chen Shuchang[13](index=13&type=chunk) - The company's registered address is Chengkou Town, Wudi County, Shandong Province, and its website is http://www.lubeichem.com[15](index=15&type=chunk) - The company's A-shares are listed on the Shanghai Stock Exchange under the stock name Lubei Chemical and stock code 600727[18](index=18&type=chunk) [Company Information](index=4&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E4%BF%A1%E6%81%AF) This section provides the company's basic registration information, including its Chinese name, abbreviation, English name, and legal representative - The company's Chinese name is Shandong Lubei Chemical Co, Ltd, with the Chinese abbreviation Lubei Chemical[13](index=13&type=chunk) - The company's legal representative is Chen Shuchang[13](index=13&type=chunk) [Contact Persons and Methods](index=4&type=section&id=%E4%BA%8C%E3%80%81%E8%81%94%E7%B3%BB%E4%BA%BA%E5%92%8C%E8%81%94%E7%B3%BB%E6%96%B9%E5%BC%8F) This section lists the names and contact details for the company's Board Secretary and Securities Affairs Representative - The Board Secretary is Lin Hongbo, and the Securities Affairs Representative is Meng Lingzhen[14](index=14&type=chunk) - The contact address is Chengkou Town, Wudi County, Shandong Province, with the phone and fax number 0543-6451265 and email lubeichem@lubeichem.com[14](index=14&type=chunk) [Changes in Basic Information](index=4&type=section&id=%E4%B8%89%E3%80%81%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5%E5%8F%98%E6%9B%B4%E7%AE%80%E4%BB%8B) This section outlines the historical changes to the company's registered address and confirms its current office location and website - The company's registered address is Chengkou Town, Wudi County, Shandong Province, and has remained unchanged since July 2011[15](index=15&type=chunk) - The office address is the same as the registered address, with a postal code of 251909 and the company website http://www.lubeichem.com[15](index=15&type=chunk) [Changes in Information Disclosure and Report Availability](index=5&type=section&id=%E5%9B%9B%E3%80%81%E4%BF%A1%E6%81%AF%E6%8A%AB%E9%9C%B2%E5%8F%8A%E5%A4%87%E7%BD%AE%E5%9C%B0%E7%82%B9%E5%8F%98%E6%9B%B4%E6%83%85%E5%86%B5%E7%AE%80%E4%BB%8B) This section specifies the designated newspapers, website, and location for the company's semi-annual report disclosure - The designated newspapers for information disclosure are *China Securities Journal* and *Shanghai Securities News*[17](index=17&type=chunk) - The website for publishing the semi-annual report is www.sse.com.cn[17](index=17&type=chunk) - The semi-annual report is available at the company's Securities Department[17](index=17&type=chunk) [Company Stock Profile](index=5&type=section&id=%E4%BA%94%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E7%A5%A8%E7%AE%80%E5%86%B5) This section provides basic information about the company's stock, including its type, listing exchange, name, and code - The company's stock type is A-shares, listed on the Shanghai Stock Exchange[18](index=18&type=chunk) - The stock name is Lubei Chemical, and the stock code is 600727[18](index=18&type=chunk) [Key Accounting Data and Financial Indicators](index=5&type=section&id=%E4%B8%83%E3%80%81%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section presents key financial data, showing year-on-year declines in revenue, total profit, and net profit attributable to shareholders Key Accounting Data (Current Period Jan-Jun) | Indicator | Amount (RMB) | Same Period Last Year (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 2,578,215,450.84 | 2,815,483,872.96 | -8.43 | | Total Profit | 156,062,967.86 | 230,561,797.09 | -32.31 | | Net Profit Attributable to Shareholders | 78,193,466.18 | 146,477,616.87 | -46.62 | | Net Cash Flow from Operating Activities | 170,679,134.86 | 213,516,262.26 | -20.06 | | Net Assets Attributable to Shareholders (Period End) | 3,236,957,015.27 | 3,179,945,958.81 | 1.79 | | Total Assets (Period End) | 8,977,651,720.70 | 8,755,249,676.00 | 2.54 | Key Financial Indicators (Current Period Jan-Jun) | Indicator | Current Period | Same Period Last Year | YoY Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (RMB/Share) | 0.15 | 0.28 | -46.43 | | Diluted Earnings Per Share (RMB/Share) | 0.15 | 0.28 | -46.43 | | Basic EPS after Non-recurring Items (RMB/Share) | 0.15 | 0.27 | -44.44 | | Weighted Average Return on Equity (%) | 2.44 | 4.94 | Decreased by 2.50 percentage points | | Weighted Average ROE after Non-recurring Items (%) | 2.39 | 4.84 | Decreased by 2.45 percentage points | Non-recurring Profit and Loss Items and Amounts (Current Period) | Non-recurring Item | Amount (RMB) | | :--- | :--- | | Gain/Loss on Disposal of Non-current Assets | 2,696,732.38 | | Government Grants Included in Current Profit/Loss | 1,325,245.52 | | Fair Value Changes in Financial Assets/Liabilities Held by Non-financial Enterprises | 580,158.11 | | Other Non-operating Income and Expenses | -5,716,307.62 | | Less: Income Tax Impact | 60,883.24 | | Less: Minority Interest Impact (After Tax) | -2,793,621.77 | | Total | 1,618,566.92 | [Management Discussion and Analysis](index=7&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) This section details the company's operations, financial performance, and risks, highlighting efforts to improve performance despite declines in revenue and profit - The company's main business segments are titanium dioxide, methane chloride, fertilizers, cement, and salt[24](index=24&type=chunk) - During the reporting period, the company achieved **operating revenue of RMB 2.58 billion**, a **decrease of 8.43%** YoY; **total profit of RMB 156.06 million**, a **decrease of 32.31%** YoY; and **net profit attributable to shareholders of RMB 78.19 million**, a **decrease of 46.62%** YoY[50](index=50&type=chunk) - The company implemented measures such as scientific production organization, process optimization, internal potential tapping, comprehensive cost reduction, new product R&D, and market expansion to achieve significant cost reductions and steady benefit improvements[50](index=50&type=chunk) - The company's core competitiveness includes advantages in location and resources, circular economy, technology, and brand and marketing[56](index=56&type=chunk)[57](index=57&type=chunk)[58](index=58&type=chunk)[59](index=59&type=chunk) - The company faces risks related to production safety, environmental protection, product price fluctuations, rising raw material prices, and natural disasters[71](index=71&type=chunk)[73](index=73&type=chunk)[75](index=75&type=chunk) [Industry and Main Business Overview](index=7&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E6%89%80%E5%B1%9E%E8%A1%8C%E4%B8%9A%E5%8F%8A%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E6%83%85%E5%86%B5%E8%AF%B4%E6%98%8E) This section details the company's five main business segments within the chemical industry, its operational models, and market conditions - The company's main businesses are segmented into titanium dioxide, methane chloride, fertilizers, cement, and salt, with products widely used in various sectors[24](index=24&type=chunk) - The titanium dioxide business has an annual production capacity of over **200,000 tons** of sulfate process titanium dioxide and **60,000 tons** of chloride process titanium dioxide[24](index=24&type=chunk) - The methane chloride business has an annual capacity of over **370,000 tons**, holding about **10% of the national market share** and **80% of the South China market share** for dichloromethane[27](index=27&type=chunk) - The fertilizer business, focusing on phosphate and compound fertilizers, utilizes patented waste resource utilization technologies, positioning itself as a resource-saving and environmentally friendly enterprise[29](index=29&type=chunk) - The salt business, producing crude salt and bromine, leverages coastal seawater resources to create an integrated industrial chain of "cooling, desalination, bromine extraction, and salt production"[31](index=31&type=chunk) - The company's procurement model involves public bidding and negotiation; its production model emphasizes continuous operation and recycling; and its sales model includes distribution, direct sales, and agency[33](index=33&type=chunk)[34](index=34&type=chunk)[36](index=36&type=chunk) - The titanium dioxide industry saw steady output growth and increased exports; methane chloride prices fell due to downstream refrigerant impacts; the fertilizer and cement industries faced oversupply and weak demand, while crude salt prices dropped and bromine prices rose[39](index=39&type=chunk)[40](index=40&type=chunk)[42](index=42&type=chunk)[45](index=45&type=chunk)[46](index=46&type=chunk)[47](index=47&type=chunk)[49](index=49&type=chunk) [Discussion and Analysis of Operations](index=15&type=section&id=%E4%BA%8C%E3%80%81%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5%E7%9A%84%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) The company maintained stable operations amid economic challenges by focusing on cost reduction, market optimization, and innovation, though overall performance declined H1 2025 Operating Performance | Indicator | Amount (RMB 10,000) | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | 257,821.55 | -8.43 | | Total Profit | 15,606.30 | -32.31 | | Net Profit Attributable to Shareholders | 7,819.35 | -46.62 | - The company achieved significant cost reductions and steady benefit improvements through a series of measures including scientific production organization, process optimization, internal potential tapping, comprehensive cost reduction, new product R&D, and market expansion[50](index=50&type=chunk) - Titanium dioxide products added over 30 new customers, with **export sales to end-users increasing YoY**; the salt chemical division's profit was driven by rising bromine prices; fertilizer sales **grew by 40.82% YoY** through a combination of domestic and international sales[51](index=51&type=chunk) - Key projects are progressing as planned, including the Xianghai Technology 60,000-ton chloride process titanium dioxide expansion, the 600,000-ton sulfur-to-acid and waste heat power generation project, and the Zirconium Titanium New Materials 600,000-ton zircon-titanium ore dressing project[51](index=51&type=chunk)[52](index=52&type=chunk) - Xianghai Technology invested in Inner Mongolia Yuxiao Mengda Titanium Industry Co, Ltd to secure the supply of high-titanium slag and ilmenite raw materials[52](index=52&type=chunk) - A collaborative project on "New Technology for Synergistic Treatment of Sulfur-containing Calcium Waste and Industrialization of Sulfur-Phosphorus-Titanium-Calcium-Lithium Co-production Ecological Industrial Model" won the second prize of the 2024 Shandong Provincial Science and Technology Progress Award[53](index=53&type=chunk) - The company strengthened party-building leadership, abolished the supervisory board to integrate its functions into the audit committee, and successfully completed the 2024 cash dividend distribution[54](index=54&type=chunk) [Analysis of Core Competitiveness](index=16&type=section&id=%E4%B8%89%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core competitiveness is built on its unique location, resource advantages, mature circular economy model, and strong brand network - Located in northern Shandong near Huanghua Port, the company benefits from **low transportation costs** and policy support from its position in multiple economic zones[56](index=56&type=chunk) - The company possesses a long coastline and a million-ton salt field, enabling comprehensive seawater utilization for "cooling-desalination-bromine extraction-salt production," and has abundant marine and coal resources[56](index=56&type=chunk) - The company has established a technologically advanced gypsum-to-sulfuric acid co-production cement plant, enabling the recycling of waste acid from titanium dioxide and petrochemical processes[57](index=57&type=chunk) - The company and its subsidiary Jinhai Titanium have been recognized as "**Green Factories**" by the Ministry of Industry and Information Technology[57](index=57&type=chunk) - The company utilizes advanced titanium dioxide production processes with automated control, and its subsidiary Xianghai Technology masters core chloride process technology[58](index=58&type=chunk) - The company integrates production, sales, and R&D, with its "Lubei" and "Jinhai" brands recognized as **China Well-known Trademarks**[59](index=59&type=chunk) [Key Operating Activities](index=18&type=section&id=%E5%9B%9B%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E4%B8%BB%E8%A6%81%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5) This section details the company's operational performance, highlighting decreased revenue and profit, increased construction in progress, and changes in asset and liability structures - **Operating revenue decreased by 8.43% YoY**, primarily due to reduced income from titanium dioxide and methane chloride products[61](index=61&type=chunk) - **R&D expenses increased by 51.11% YoY**, mainly due to increased investment in research and development[61](index=61&type=chunk) - **Net cash flow from financing activities changed by 41.27% YoY**, primarily due to an increase in bank borrowings[61](index=61&type=chunk) Changes in Assets and Liabilities (Period End vs. Previous Year End) | Item | Current Period End (RMB) | Change (%) | Reason | | :--- | :--- | :--- | :--- | | Construction in Progress | 333,979,427.16 | 88.12 | Increased investment in Phase II chloride process titanium dioxide and zircon-titanium ore dressing projects | | Contract Liabilities | 103,478,380.64 | -39.44 | Decrease in advance payments from customers | | Long-term Borrowings | 559,147,553.65 | 59.76 | Increase in bank loans | | Trading Financial Assets | 8,000,000.00 | -80.95 | Redemption of wealth management products | | Notes Receivable Financing | 52,382,477.00 | -55.34 | Decrease in bank acceptance bills received from major banks | | Prepayments | 290,011,583.48 | 43.91 | Prepayments for raw materials and equipment | - During the reporting period, the company made a **capital injection of RMB 36 million** in cash to its subsidiary Zirconium Titanium New Materials, holding a 70% stake[65](index=65&type=chunk) Financial Information of Major Subsidiaries (Unit: RMB 10,000) | Company Name | Total Assets | Net Assets | Operating Revenue | Operating Profit | Net Profit | | :--- | :--- | :--- | :--- | :--- | :--- | | Jinhai Titanium | 397,546.19 | 151,764.97 | 131,694.58 | 228.94 | 68.67 | | Xianghai Technology | 141,617.64 | 15,053.69 | 39,383.02 | 1,409.86 | 1,439.60 | | Jinyi Technology | 87,271.70 | 68,761.22 | 41,959.11 | 12,802.45 | 8,858.89 | - The company disposed of its subsidiary Jinan Shizhong District Hairong Micro-credit Co, Ltd, realizing an **investment gain of RMB 526,300**[71](index=71&type=chunk) [Other Disclosures](index=21&type=section&id=%E4%BA%94%E3%80%81%E5%85%B6%E4%BB%96%E6%8A%AB%E9%9C%B2%E4%BA%8B%E9%A1%B9) This section outlines potential major risks, including safety, environmental, price volatility, and natural disaster risks, along with the company's corresponding mitigation measures - As a chemical company, it faces risks of safety accidents and environmental pollution due to corrosive, toxic, and dusty production characteristics[71](index=71&type=chunk) - The company has strengthened safety management, implemented responsibility systems, controlled hazards and environmental factors, and promoted energy conservation and emission reduction[72](index=72&type=chunk) - The prices of major products (titanium dioxide, fertilizers, cement, crude salt) are subject to fluctuations and the risk of rising raw material costs[73](index=73&type=chunk) - The company has enhanced market analysis, expanded its market share, strengthened procurement price verification, and reduced material and energy consumption through technological innovation[74](index=74&type=chunk) - The production of crude salt and bromine is susceptible to natural climate conditions, posing risks from natural disasters and extreme weather[75](index=75&type=chunk) - The company monitors weather forecasts for early warnings, implements protective measures, and conducts emergency drills for natural disasters[75](index=75&type=chunk) [Corporate Governance, Environment, and Society](index=22&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E3%80%81%E7%8E%AF%E5%A2%83%E5%92%8C%E7%A4%BE%E4%BC%9A) This section covers changes in directors and senior management, the absence of a semi-annual profit distribution plan, and the list of subsidiaries subject to mandatory environmental information disclosure - On May 9, 2025, the company completed its board and management transition, including abolishing the supervisory board, electing new directors, and appointing senior management[77](index=77&type=chunk) - The proposed semi-annual profit distribution plan is "**No**," with zero bonus shares, dividends, or transfers per 10 shares[78](index=78&type=chunk) - The company and three subsidiaries (Shandong Jinhai Titanium, Shandong Xianghai Titanium, Guangxi Tiandong Jinyi Technology) are included in the list of enterprises for mandatory environmental information disclosure[80](index=80&type=chunk) [Changes in Directors and Senior Management](index=22&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) This section lists the changes in the company's directors and senior management during the reporting period due to a board transition - During the reporting period, Xie Jun, Zhang Xiaoyan, Yuan Jinliang, Tian Xiangguo, Liu Zhengong, and Zhang Jinzeng resigned from their positions as directors, supervisors, or senior managers[77](index=77&type=chunk) - Chen Jinguo was elected as an employee director, Geng Guozhi and Wang Yuguo were elected as independent directors, and Lin Hongbo was appointed as the Board Secretary[77](index=77&type=chunk) - The changes were due to the company's board transition election on May 9, 2025, which included resolutions to abolish the supervisory board, elect directors, and appoint senior management[77](index=77&type=chunk) [Profit Distribution or Capitalization of Capital Reserve Plan](index=22&type=section&id=%E4%BA%8C%E3%80%81%E5%88%A9%E6%B6%A6%E5%88%86%E9%85%8D%E6%88%96%E8%B5%84%E6%9C%AC%E5%85%AC%E7%A7%AF%E9%87%91%E8%BD%AC%E5%A2%9E%E9%A2%84%E6%A1%88) This section confirms that the company has not proposed a semi-annual profit distribution or capitalization of capital reserve plan - The company's proposed semi-annual profit distribution and capitalization of capital reserve plan is "**No**"[78](index=78&type=chunk) - The number of bonus shares, cash dividends (tax included), and capitalization shares per 10 shares are all 0[78](index=78&type=chunk) [Environmental Information of Listed Companies and Key Subsidiaries on the Mandatory Disclosure List](index=23&type=section&id=%E5%9B%9B%E3%80%81%E7%BA%B3%E5%85%A5%E7%8E%AF%E5%A2%83%E4%BF%A1%E6%81%AF%E4%BE%9D%E6%B3%95%E6%8A%AB%E9%9C%B2%E4%BC%81%E4%B8%9A%E5%90%8D%E5%8D%95%E7%9A%84%E4%B8%8A%E5%B8%82%E5%85%AC%E5%8F%B8%E5%8F%8A%E5%85%B6%E4%B8%BB%E8%A6%81%E5%AD%90%E5%85%AC%E5%8F%B8%E7%9A%84%E7%8E%AF%E5%A2%83%E4%BF%A1%E6%81%AF%E6%83%85%E5%86%B5) This section lists the company and three subsidiaries that are subject to mandatory environmental information disclosure and provides their respective query indexes - There are **4** entities on the list for mandatory environmental information disclosure[80](index=80&type=chunk) - These include Shandong Lubei Chemical Co, Ltd, Shandong Jinhai Titanium Resources Technology Co, Ltd, Shandong Xianghai Titanium Resources Technology Co, Ltd, and Guangxi Tiandong Jinyi Technology Co, Ltd[80](index=80&type=chunk) - The query index for their environmental information disclosure reports is the "Enterprise Environmental Information Disclosure System (Shandong)" or "Enterprise Environmental Information Disclosure System (Guangxi)"[80](index=80&type=chunk) [Significant Matters](index=24&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section confirms the fulfillment of commitments by the controlling shareholder, Lubei Group, and states the absence of fund occupation, irregular guarantees, or material litigation - Commitments from the controlling shareholder, Lubei Group, regarding resolving competition, related-party transactions, non-interference in management, and ensuring operational independence have been strictly fulfilled[83](index=83&type=chunk)[84](index=84&type=chunk)[85](index=85&type=chunk) - There was **no non-operational occupation of funds** by the controlling shareholder or other related parties[86](index=86&type=chunk) - There were **no instances of providing external guarantees** in violation of prescribed decision-making procedures[86](index=86&type=chunk) - The company had **no material litigation or arbitration** during the reporting period[87](index=87&type=chunk) Company's Total Guarantee Status (Unit: RMB 10,000) | Indicator | Amount | | :--- | :--- | | Guarantees for Subsidiaries Incurred During the Period | 104,167.72 | | Outstanding Guarantee Balance for Subsidiaries at Period End (B) | 104,167.72 | | Total Guarantee Amount (A+B) | 104,167.72 | | Total Guarantee Amount as a Percentage of Net Assets (%) | 32.18 | [Fulfillment of Commitments](index=24&type=section&id=%E4%B8%80%E3%80%81%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) This section details the commitments made by the company's controlling entities and confirms that all commitments have been strictly fulfilled - Lubei Group has committed to not engaging in businesses that compete with Lubei Chemical or its subsidiaries and has strictly adhered to this commitment[83](index=83&type=chunk) - Lubei Group has committed to minimizing related-party transactions and ensuring compliance with legal procedures and disclosure obligations, which has been strictly fulfilled[84](index=84&type=chunk) - Lubei Group has committed not to interfere with the company's management or misappropriate its interests, and has strictly fulfilled this commitment[84](index=84&type=chunk) - Lubei Group has committed to ensuring Lubei Chemical's independence in business, assets, personnel, finance, and organization, and has strictly fulfilled this commitment[85](index=85&type=chunk) [Non-operational Fund Occupation by Controlling Shareholders and Affiliates](index=26&type=section&id=%E4%BA%8C%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%B3%E8%81%94%E6%96%B9%E9%9D%9E%E7%BB%8F%E8%90%A5%E6%80%A7%E5%8D%A0%E7%94%A8%E8%B5%84%E9%87%91%E6%83%85%E5%86%B5) This section confirms that there were no instances of non-operational fund occupation by controlling shareholders or other related parties during the reporting period - The company reports **no instances of non-operational fund occupation** by its controlling shareholder or other related parties during the reporting period[86](index=86&type=chunk) [Irregular Guarantees](index=26&type=section&id=%E4%B8%89%E3%80%81%E8%BF%9D%E8%A7%84%E6%8B%85%E4%BF%9D%E6%83%85%E5%86%B5) This section confirms that the company did not provide any guarantees that violated prescribed decision-making procedures during the reporting period - The company reports **no irregular guarantees** during the reporting period[86](index=86&type=chunk) [Material Litigation and Arbitration](index=27&type=section&id=%E4%B8%83%E3%80%81%E9%87%8D%E5%A4%A7%E8%AF%89%E8%AE%BC%E3%80%81%E4%BB%B2%E8%A3%81%E4%BA%8B%E9%A1%B9) This section states that the company had no material litigation or arbitration matters during the reporting period - The company had **no material litigation or arbitration** matters during this reporting period[87](index=87&type=chunk) [Material Contracts and Their Performance](index=28&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E9%87%8D%E5%A4%A7%E5%90%88%E5%90%8C%E5%8F%8A%E5%85%B6%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) This section discloses the company's material guarantees, primarily for its subsidiaries, with a total guarantee amount representing 32.18% of net assets Guarantees for Subsidiaries (Unit: RMB 10,000) | Indicator | Amount | | :--- | :--- | | Guarantees for Subsidiaries Incurred During the Period | 104,167.72 | | Outstanding Guarantee Balance for Subsidiaries at Period End (B) | 104,167.72 | | Total Guarantee Amount (A+B) | 104,167.72 | | Total Guarantee Amount as a Percentage of Net Assets (%) | 32.18 | - The company provided multiple guarantees for Jinhai Titanium, including amounts of **RMB 100 million**, **RMB 150 million**, and **RMB 80 million**, with terms extending from 2022 to 2027[512](index=512&type=chunk)[513](index=513&type=chunk) - The company provided multiple guarantees for Xianghai Technology, including amounts of **RMB 30 million** and **RMB 220 million**, with terms extending from 2024 to 2026[513](index=513&type=chunk) [Changes in Share Capital and Shareholders](index=30&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) This section reports no change in the company's share capital and details the shareholder structure, including the top ten shareholders and restricted shareholders - During the reporting period, the company's total number of shares and share capital structure **remained unchanged**[92](index=92&type=chunk) - As of the end of the reporting period, the total number of common shareholders was **56,358**[93](index=93&type=chunk) Top Ten Shareholders (as of Period End) | Shareholder Name | Shares Held (Shares) | Percentage (%) | Pledged, Marked, or Frozen Status (Shares) | Shareholder Type | | :--- | :--- | :--- | :--- | :--- | | Shandong Lubei Enterprise Group Corporation | 180,969,187 | 34.24 | 90,000,000 (Pledged) | State-owned Legal Person | | Shandong State-owned Assets Investment Holdings Co, Ltd | 17,472,392 | 3.31 | 0 (None) | State-owned Legal Person | | Shandong Yongdao Investment Co, Ltd | 8,220,000 | 1.56 | 8,220,000 (Pledged) | Domestic Non-state-owned Legal Person | | Chai Changmao | 5,000,000 | 0.95 | 0 (None) | Domestic Individual | | Yu Daosheng | 1,892,900 | 0.36 | 0 (None) | Domestic Individual | Top Ten Restricted Shareholders (as of Period End) | No | Restricted Shareholder Name | Restricted Shares Held (Shares) | Restriction Condition | | :--- | :--- | :--- | :--- | | 1 | Wang Qingping | 45,000 | Share-reform restricted shares | | 2 | Yang Zhou | 15,000 | Share-reform restricted shares | [Changes in Share Capital](index=30&type=section&id=%E4%B8%80%E3%80%81%E8%82%A1%E6%9C%AC%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) This section states that the company's total number of shares and share capital structure did not change during the reporting period - During the reporting period, the company's total number of shares and share capital structure **remained unchanged**[92](index=92&type=chunk) [Shareholders](index=30&type=section&id=%E4%BA%8C%E3%80%81%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) This section discloses the total number of shareholders and details the holdings of the top ten common and restricted shareholders as of the period end - As of the end of the reporting period, the total number of common shareholders was **56,358**[93](index=93&type=chunk) Top Ten Shareholders (as of Period End) | Shareholder Name | Shares Held (Shares) | Percentage (%) | Pledged, Marked, or Frozen Status (Shares) | Shareholder Type | | :--- | :--- | :--- | :--- | :--- | | Shandong Lubei Enterprise Group Corporation | 180,969,187 | 34.24 | 90,000,000 (Pledged) | State-owned Legal Person | | Shandong State-owned Assets Investment Holdings Co, Ltd | 17,472,392 | 3.31 | 0 (None) | State-owned Legal Person | | Shandong Yongdao Investment Co, Ltd | 8,220,000 | 1.56 | 8,220,000 (Pledged) | Domestic Non-state-owned Legal Person | | Chai Changmao | 5,000,000 | 0.95 | 0 (None) | Domestic Individual | | Yu Daosheng | 1,892,900 | 0.36 | 0 (None) | Domestic Individual | Top Ten Restricted Shareholders (as of Period End) | No | Restricted Shareholder Name | Restricted Shares Held (Shares) | Restriction Condition | | :--- | :--- | :--- | :--- | | 1 | Wang Qingping | 45,000 | Share-reform restricted shares | | 2 | Yang Zhou | 15,000 | Share-reform restricted shares | [Bond-related Matters](index=32&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) This section confirms that the company has no corporate bonds, non-financial enterprise debt financing instruments, or convertible bonds - The company has **no corporate bonds** (including enterprise bonds) or non-financial enterprise debt financing instruments[100](index=100&type=chunk) - The company has **no convertible corporate bonds**[100](index=100&type=chunk) [Corporate Bonds and Non-financial Enterprise Debt Financing Instruments](index=32&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E5%80%BA%E5%88%B8%EF%BC%88%E5%90%AB%E4%BC%81%E4%B8%9A%E5%80%BA%E5%88%B8%EF%BC%89%E5%92%8C%E9%9D%9E%E9%87%91%E8%9E%8D%E4%BC%81%E4%B8%9A%E5%80%BA%E5%8A%A1%E8%9E%8D%E8%B5%84%E5%B7%A5%E5%85%B7) This section states that the company had no corporate bonds or non-financial enterprise debt financing instruments during the reporting period - The company has **no corporate bonds** (including enterprise bonds) or non-financial enterprise debt financing instruments[100](index=100&type=chunk) [Convertible Corporate Bonds](index=32&type=section&id=%E4%BA%8C%E3%80%81%E5%8F%AF%E8%BD%AC%E6%8D%A2%E5%85%AC%E5%8F%B8%E5%80%BA%E5%88%B8%E6%83%85%E5%86%B5) This section states that the company had no convertible corporate bonds during the reporting period - The company has **no convertible corporate bonds**[100](index=100&type=chunk) [Financial Report](index=33&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) This section presents the company's unaudited consolidated and parent company financial statements and detailed notes for the reporting period - This semi-annual report is **unaudited**[102](index=102&type=chunk) - The financial statements include the consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owner's equity[102](index=102&type=chunk)[105](index=105&type=chunk)[108](index=108&type=chunk)[112](index=112&type=chunk)[115](index=115&type=chunk)[118](index=118&type=chunk)[121](index=121&type=chunk)[128](index=128&type=chunk) - The notes to the financial statements provide detailed disclosures on the company's basic information, significant accounting policies and estimates, taxes, and notes to consolidated financial statement items[133](index=133&type=chunk)[141](index=141&type=chunk)[322](index=322&type=chunk)[329](index=329&type=chunk) - Supplementary information includes a detailed list of non-recurring profit and loss items and data on return on equity and earnings per share[553](index=553&type=chunk)[555](index=555&type=chunk) [Audit Report](index=33&type=section&id=%E4%B8%80%E3%80%81%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) This section states that the semi-annual financial report has not been audited - This semi-annual report is **unaudited**[102](index=102&type=chunk) [Financial Statements](index=33&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section provides the company's consolidated and parent company financial statements for the first half of 2025 Key Consolidated Balance Sheet Data (June 30, 2025) | Item | Amount (RMB) | | :--- | :--- | | Total Assets | 8,977,651,720.70 | | Total Liabilities | 5,360,959,926.87 | | Total Equity Attributable to Parent Company | 3,236,957,015.27 | Key Consolidated Income Statement Data (Jan-Jun 2025) | Item | Amount (RMB) | | :--- | :--- | | Total Operating Revenue | 2,578,215,450.84 | | Total Profit | 156,062,967.86 | | Net Profit Attributable to Parent Company Shareholders | 78,193,466.18 | | Basic Earnings Per Share (RMB/Share) | 0.15 | Key Consolidated Cash Flow Statement Data (Jan-Jun 2025) | Item | Amount (RMB) | | :--- | :--- | | Net Cash Flow from Operating Activities | 170,679,134.86 | | Net Cash Flow from Investing Activities | -37,961,906.28 | | Net Cash Flow from Financing Activities | -194,140,352.20 | | Net Increase in Cash and Cash Equivalents | -61,493,565.93 | [Company Basic Information](index=54&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) This section details the company's history, share capital, legal representative, and main business activities in the chemical industry - The company was established on June 19, 1996, and listed on the Shanghai Stock Exchange on July 2 of the same year, with stock code 600727[133](index=133&type=chunk) - As of June 30, 2025, the company's registered capital is **RMB 528,583,135.00**[135](index=135&type=chunk) - The legal representative is Chen Shuchang, and the registered and head office address is Chengkou Town, Wudi County, Shandong Province[136](index=136&type=chunk)[137](index=137&type=chunk) - The company's main business activities include the R&D, production, and sales of chemical products such as titanium dioxide, methane chloride, crude salt and bromine, fertilizers, and cement[137](index=137&type=chunk) [Basis of Preparation for Financial Statements](index=54&type=section&id=%E5%9B%9B%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E7%9A%84%E7%BC%96%E5%88%B6%E5%9F%BA%E7%A1%80) This section confirms that the financial statements are prepared on a going concern basis, with no significant doubts about the company's future viability - The company's financial statements are prepared on a **going concern basis**[139](index=139&type=chunk) - The company has assessed its ability to continue as a going concern for the next 12 months and has found no significant factors that would cast doubt on this ability[140](index=140&type=chunk) [Significant Accounting Policies and Estimates](index=55&type=section&id=%E4%BA%94%E3%80%81%E9%87%8D%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%94%BF%E7%AD%96%E5%8F%8A%E4%BC%9A%E8%AE%A1%E4%BC%B0%E8%AE%A1) This section outlines the key accounting policies and estimates used in preparing the financial statements, covering areas from business combinations to revenue recognition - The financial statements comply with enterprise accounting standards, providing a true and fair view of the company's financial position and performance[141](index=141&type=chunk) - Financial assets are classified into three categories: measured at amortized cost, at fair value through other comprehensive income, or at fair value through profit or loss[172](index=172&type=chunk)[173](index=173&type=chunk)[174](index=174&type=chunk) - For notes and accounts receivable, the company measures the loss provision based on **lifetime expected credit losses**, regardless of significant financing components[197](index=197&type=chunk) - Fixed assets are depreciated using the straight-line method, with depreciation periods of **22-40 years for buildings** and **10-14 years for machinery**[243](index=243&type=chunk) - Revenue is recognized by identifying performance obligations in a contract and measuring revenue based on the transaction price allocated to each obligation as it is satisfied[274](index=274&type=chunk)[281](index=281&type=chunk) - The company makes judgments, estimates, and assumptions for items such as financial asset impairment, inventory write-downs, fair value of financial assets, long-term asset impairment, depreciation, and deferred income tax[308](index=308&type=chunk)[312](index=312&type=chunk)[313](index=313&type=chunk)[314](index=314&type=chunk)[315](index=315&type=chunk)[317](index=317&type=chunk)[319](index=319&type=chunk)[320](index=320&type=chunk)[321](index=321&type=chunk) [Taxes](index=87&type=section&id=%E5%85%AD%E3%80%81%E7%A8%8E%E9%A1%B9) This section details the company's main taxes and tax rates, as well as applicable tax incentives such as those for comprehensive resource utilization and R&D expenses Main Taxes and Tax Rates | Tax Type | Tax Rate | | :--- | :--- | | Value-Added Tax (VAT) | 6%, 9%, 13% | | Urban Maintenance and Construction Tax | 5% | | Corporate Income Tax | 15%, 25% | | Education Surcharge | 3% | | Local Education Surcharge | 2% | | Property Tax | 1.2%, 12% | | Resource Tax | 5% | - The company benefits from a corporate income tax incentive for comprehensive resource utilization, with **90% of relevant income included in total revenue**[324](index=324&type=chunk) - Manufacturing enterprises are eligible for a **100% super deduction** or **200% pre-tax amortization** for R&D expenses[324](index=324&type=chunk) - The subsidiary Guangxi Tiandong Jinyi Technology Co, Ltd, as a high-tech enterprise, enjoys a reduced corporate income tax rate of **15%**[325](index=325&type=chunk) - The company receives a **70% VAT refund** for products and services related to comprehensive resource utilization and a **5% additional deduction** on input VAT for advanced manufacturing enterprises[326](index=326&type=chunk)[328](index=328&type=chunk) - Local water conservancy construction funds are exempted in Shandong Province and Guangxi Zhuang Autonomous Region[328](index=328&type=chunk) [Notes to Consolidated Financial Statement Items](index=89&type=section&id=%E4%B8%83%E3%80%81%E5%90%88%E5%B9%B6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E9%A1%B9%E7%9B%AE%E6%B3%A8%E9%87%8A) This section provides detailed notes on key items in the consolidated financial statements, explaining balances, changes, and related accounting treatments - Cash and cash equivalents at period-end were **RMB 2.83 billion**, with **RMB 1.71 billion** in other monetary funds being restricted, primarily as deposits for bank acceptance bills and letters of credit[330](index=330&type=chunk)[410](index=410&type=chunk) - The book value of construction in progress at period-end was **RMB 324.60 million**, an **increase of 83.96%** from the beginning of the period, mainly due to increased investment in key projects[391](index=391&type=chunk)[63](index=63&type=chunk) - Short-term borrowings at period-end were **RMB 2.92 billion**, consisting mainly of pledged loans[413](index=413&type=chunk) - Long-term borrowings at period-end were **RMB 559.15 million**, an **increase of 59.76%** from the beginning of the period, primarily due to an increase in bank loans[433](index=433&type=chunk)[64](index=64&type=chunk) - Operating revenue for the period was **RMB 2.58 billion** and cost of sales was **RMB 2.28 billion**; revenue **decreased by 8.43% YoY** due to lower sales of titanium dioxide and methane chloride products[447](index=447&type=chunk)[61](index=61&type=chunk) - R&D expenses for the period were **RMB 37.33 million**, a **YoY increase of 51.11%**, mainly due to higher R&D investment[459](index=459&type=chunk)[61](index=61&type=chunk) - Net cash flow from operating activities was **RMB 170.68 million**[481](index=481&type=chunk) [R&D Expenditures](index=147&type=section&id=%E5%85%AB%E3%80%81%E7%A0%94%E5%8F%91%E6%94%AF%E5%87%BA) This section details the company's R&D expenditures for the period, all of which were expensed, showing a significant year-on-year increase R&D Expenditure Breakdown (Current Period) | Item | Amount (RMB) | | :--- | :--- | | Employee Compensation | 18,520,467.45 | | Materials | 8,673,527.08 | | Depreciation and Amortization | 1,778,776.80 | | Fuel and Power | 6,925,549.34 | | Expert Consultation | 537,273.17 | | Others | 895,310.32 | | Total | 37,330,904.16 | - R&D expenditure for the current period was **RMB 37.33 million**, compared to **RMB 24.70 million** in the same period last year, a **YoY increase of 51.11%**[489](index=489&type=chunk)[61](index=61&type=chunk) - All R&D expenditures were **expensed**[489](index=489&type=chunk) [Changes in Consolidation Scope](index=148&type=section&id=%E4%B9%9D%E3%80%81%E5%90%88%E5%B9%B6%E8%8C%83%E5%9B%B4%E7%9A%84%E5%8F%98%E6%9B%B4) This section confirms that there were no significant changes to the company's consolidation scope during the reporting period - There were **no business combinations under common control** during the period[489](index=489&type=chunk) - There were **no business combinations not under common control** during the period[489](index=489&type=chunk) - There were **no reverse acquisitions** during the period[489](index=489&type=chunk) - There were **no transactions or events leading to a loss of control** over subsidiaries during the period[489](index=489&type=chunk) [Interests in Other Entities](index=150&type=section&id=%E5%8D%81%E3%80%81%E5%9C%A8%E5%85%B6%E4%BB%96%E4%B8%BB%E4%BD%93%E4%B8%AD%E7%9A%84%E6%9D%83%E7%9B%8A) This section discloses the composition of the company's corporate group, including key subsidiaries and financial information for significant non-wholly-owned subsidiaries - Key subsidiaries include Guangxi Tiandong Jinyi Technology (51% owned), Shandong Chuangling New Materials (100% owned), Shandong Jinhai Titanium (100% owned), Shandong Xianghai Titanium (100% owned), and Shandong Lubei Zirconium Titanium New Materials (70% owned)[492](index=492&type=chunk) - The significant non-wholly-owned subsidiary is Jinyi Technology, with a **minority interest of 49.00%**[493](index=493&type=chunk) Key Financial Information of Jinyi Technology (Current Period) | Item | Amount (RMB) | | :--- | :--- | | Operating Revenue | 419,591,051.44 | | Net Profit | 88,588,919.56 | | Total Comprehensive Income | 88,588,919.56 | | Operating Activity Cash Flow | 142,210,906.89 | | Profit/Loss Attributable to Minority Shareholders | 43,408,570.58 | | Dividends Declared to Minority Shareholders | 73,500,000.00 | | Minority Interest Balance at Period End | 358,775,481.90 | [Government Grants](index=152&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E6%94%BF%E5%BA%9C%E8%A1%A5%E5%8A%A9) This section discloses government grants received by the company, including deferred income related to assets and grants recognized in current profit or loss Liability Items Related to Government Grants (Deferred Income) | Item | Opening Balance (RMB) | New Grants (RMB) | Transferred to Other Income (RMB) | Closing Balance (RMB) | Asset/Income Related | | :--- | :--- | :--- | :--- | :--- | :--- | | Deferred Income | 3,504,391.30 | 80,000.00 | 360,077.50 | 3,224,313.80 | Asset-related | Government Grants Included in Current Profit or Loss | Type | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Income-related | 2,537,451.32 | 3,689,090.97 | | Income-related | 1,325,245.52 | 1,446,751.53 | | Total | 3,862,696.84 | 5,135,842.50 | [Financial Instrument Risks](index=153&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E4%B8%8E%E9%87%91%E8%9E%8D%E5%B7%A5%E5%85%B7%E7%9B%B8%E5%85%B3%E7%9A%84%E9%A3%8E%E9%99%A9) This section states that the company does not engage in hedging activities for risk management and has not applied hedge accounting - The company **does not engage in hedging activities** for risk management[499](index=499&type=chunk) - The company **has not applied hedge accounting**[499](index=499&type=chunk) - The company has not disclosed details regarding the transfer of financial assets[499](index=499&type=chunk)[500](index=500&type=chunk) [Fair Value Disclosures](index=154&type=section&id=%E5%8D%81%E4%B8%89%E3%80%81%E5%85%AC%E5%85%81%E4%BB%B7%E5%80%BC%E7%9A%84%E6%8A%AB%E9%9C%B2) This section discloses the fair value of assets and liabilities measured at fair value, primarily trading financial assets and other equity investments Total Assets Measured at Fair Value on a Recurring Basis (Period End Fair Value) | Item | Level 2 Fair Value (RMB) | Level 3 Fair Value (RMB) | Total (RMB) | | :--- | :--- | :--- | :--- | | Trading Financial Assets | 8,000,000.00 | | 8,000,000.00 | | Other Equity Investments | | 600,000.00 | 600,000.00 | | **Total Assets Measured at Fair Value** | **8,000,000.00** | **600,000.00** | **8,600,000.00** | - The fair value for Level 2 is derived from the present value of expected cash inflows from bank wealth management products[503](index=503&type=chunk) - The fair value for Level 3 items (other equity investments and other non-current financial assets) is determined using a valuation technique based on the value of the investee's identifiable net assets[504](index=504&type=chunk) [Related Parties and Transactions](index=155&type=section&id=%E5%8D%81%E5%9B%9B%E3%80%81%E5%85%B3%E8%81%94%E6%96%B9%E5%8F%8A%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) This section details the company's parent, subsidiaries, other related parties, and various related-party transactions during the reporting period - The company's parent is Shandong Lubei Enterprise Group Corporation, holding a **34.24%** stake, with the ultimate controlling party being the Wudi County Finance Bureau[506](index=506&type=chunk) - Other related parties include Shandong Lubei High-tech Zone Industrial Development Group, Shandong Jinyuan New Materials, Binhua Group and its subsidiaries, and Guangxi Tiandong Jinsheng Chemical[507](index=507&type=chunk)[508](index=508&type=chunk) Purchases of Goods/Services from Related Parties (Current Period) | Related Party | Transaction Content | Amount (RMB) | | :--- | :--- | :--- | | Shandong Lubei Enterprise Group Corporation | Purchase of steam, electricity, etc | 261,499,757.55 | | Wudi Haichuan Installation Engineering Co, Ltd | Engineering services, equipment, materials | 66,396,531.10 | | Wudi Lanjie Sewage Treatment Co, Ltd | Sewage treatment | 24,692,959.54 | | Guangxi Tiandong Jinsheng Chemical Co, Ltd | Purchase of fuel and power | 58,393,305.45 | Sales of Goods/Services to Related Parties (Current Period) | Related Party | Transaction Content | Amount (RMB) | | :--- | :--- | :--- | | Shandong Lubei Enterprise Group Corporation | Sales of purified water, demineralized water, fly ash, etc | 21,643,781.15 | | Shandong Lubei Haisheng Biotechnology Co, Ltd | Sales of cement, maintenance services | 23,109,323.42 | | Wudi Zhonghai New Aluminum Technology Co, Ltd | Sales of woven bags, provision of repairs, etc | 5,599,165.97 | | Binhua Group Co, Ltd | Sales of salt | 4,960,316.10 | - The company provided multiple guarantees for its subsidiaries Jinhai Titanium and Xianghai Technology, with a total outstanding guarantee balance of **RMB 1.04 billion** at the period end[512](index=512&type=chunk)[513](index=513&type=chunk)[90](index=90&type=chunk) - Key management personnel compensation for the current period amounted to **RMB 5.95 million**[515](index=515&type=chunk) [Share-based Payments](index=160&type=section&id=%E5%8D%81%E4%BA%94%E3%80%81%E8%82%A1%E4%BB%BD%E6%94%AF%E4%BB%98) This section confirms that the company had no share-based payment arrangements during the reporting period - The company had **no share-based payment arrangements** during the reporting period[521](index=521&type=chunk) - The company had **no equity-settled share-based payments**[522](index=522&type=chunk) - The company had **no cash-settled share-based payments**[522](index=522&type=chunk) - The company incurred **no share-based payment expenses** during the period[522](index=522&type=chunk) [Commitments and Contingencies](index=161&type=section&id=%E5%8D%81%E5%85%AD%E3%80%81%E6%89%BF%E8%AF%BA%E5%8F%8A%E6%88%96%E6%9C%89%E4%BA%8B%E9%A1%B9) This section states that the company had no significant commitments or material contingencies to disclose for the reporting period - The company had **no significant commitments** to report for the period[522](index=522&type=chunk) - The company has **no material contingencies** to disclose[522](index=522&type=chunk) [Post-Balance Sheet Events](index=161&type=section&id=%E5%8D%81%E4%B8%83%E3%80%81%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8%E6%97%A5%E5%90%8E%E4%BA%8B%E9%A1%B9) This section confirms that no significant events occurred between the balance sheet date and the report's approval date that would require disclosure - The company had **no significant non-adjusting events** after the balance sheet date[522](index=522&type=chunk) - There were **no profit distribution events** after the balance sheet date[522](index=522&type=chunk) - There were **no sales returns** after the balance sheet date[522](index=522&type=chunk) [Other Significant Matters](index=161&type=section&id=%E5%8D%81%E5%85%AB%E3%80%81%E5%85%B6%E4%BB%96%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section confirms the absence of other significant matters such as prior period error corrections, debt restructuring, or discontinued operations - The company had **no prior period accounting error corrections**[522](index=522&type=chunk) - The company had **no significant debt restructuring**[523](index=523&type=chunk) - The company had **no asset swaps**[523](index=523&type=chunk) - The company had **no annuity plans**[523](index=523&type=chunk) - The company had **no discontinued operations**[523](index=523&type=chunk) - The company has **not disclosed segment information**[523](index=523&type=chunk) [Notes to Parent Company Financial Statement Items](index=162&type=section&id=%E5%8D%81%E4%B9%9D%E3%80%81%E6%AF%8D%E5%85%AC%E5%8F%B8%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E4%B8%BB%E8%A6%81%E9%A1%B9%E7%9B%AE%E6%B3%A8%E9%87%8A) This section provides detailed notes on key items in the parent company's financial statements, including receivables, long-term investments, and revenue - The parent company's accounts receivable had a book value of **RMB 32.53 million** at period-end, with a bad debt provision of **RMB 3.14 million**[526](index=526&type=chunk) - The parent company's other receivables had a book value of **RMB 1.11 billion** at period-end, with a significant portion related to intercompany balances[534](index=534&type=chunk)[540](index=540&type=chunk) - The parent company's long-term equity investments had a book value of **RMB 2.07 billion** at period-end, increasing by **RMB 131.90 million** during the period due to additional investments in subsidiaries[546](index=546&type=chunk) - The parent company's operating revenue for the period was **RMB 431.35 million**, with a cost of sales of **RMB 352.44 million**[548](index=548&type=chunk) - The parent company's investment income for the period was **RMB 77.08 million**, primarily from long-term equity investments accounted for using the cost method[552](index=552&type=chunk) [Supplementary Information](index=173&type=section&id=%E4%BA%8C%E5%8D%81%E3%80%81%E8%A1%A5%E5%85%85%E8%B5%84%E6%96%99) This section provides supplementary financial data, including a detailed breakdown of non-recurring profit and loss items and calculations for ROE and EPS Breakdown of Non-recurring Profit and Loss | Item | Amount (RMB) | | :--- | :--- | | Gain/Loss on Disposal of Non-current Assets | 2,696,732.38 | | Government Grants Included in Current Profit/Loss | 1,325,245.52 | | Fair Value Changes in Financial Assets/Liabilities Held by Non-financial Enterprises | 580,158.11 | | Other Non-operating Income and Expenses | -5,716,307.62 | | Less: Income Tax Impact | 60,883.24 | | Less: Minority Interest Impact (After Tax) | -2,793,621.77 | | Total | 1,618,566.92 | Return on Equity (ROE) and Earnings Per Share (EPS) | Profit for the Period | Weighted Average ROE (%) | Basic EPS (RMB) | Diluted EPS (RMB) | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Common Shareholders | 2.44 | 0.15 | 0.15 | | Net Profit Attributable to Common Shareholders after Non-recurring Items | 2.39 | 0.15 | 0.15 |

股票代码：600727 股票简称：鲁北化工 编号：2025-044 山东鲁北化工股份有限公司 2025年半年度主要经营数据公告 特别提示 本公司董事会及全体董事成员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。 | 主要产品 | 2025年半年度 平均售价（元/吨） | 2024年半年度 平均售价（元/吨） | 变动比率（%） | | --- | --- | --- | --- | | 钛白粉 | 12,637.11 | 14,008.03 | -9.79 | | 甲烷氯化物 | 1,969.28 | 1,979.51 | -0.52 | | 化肥 | 2,844.78 | 2,630.80 | 8.13 | | 原盐 | 212.39 | 274.34 | -22.58 | | 水泥 | 259.49 | 237.84 | 9.11 | 1 主要产品 2025年半年度 产量（吨） 2025年半年度 销量（吨） 2025年半年度 销售金额（元） 钛白粉 136,785.60 126,123.80 1,593,840,221.40 甲烷氯化物 216 ...

山东鲁北化工股份有限公司 关于2025年度"提质增效重回报"行动方案的半年度评 估报告 特别提示 股票代码：600727 股票简称：鲁北化工 编号：2025-042 本公司董事会及全体董事成员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。 为积极响应上海证券交易所《关于开展沪市公司"提质增效重回报"专项行动 的倡议》，推动上市公司高质量发展和投资价值提升，保护投资者尤其是中小投资 者合法权益，增强资本市场内在稳定性，促进资本市场健康发展，践行"以投资者 为本"的发展理念，实现上市公司高质量发展，树立良好的资本市场形象，山东鲁 北化工股份有限公司（以下简称"公司"）结合自身发展战略和经营情况，于2024 年11月23日披露了《"提质增效重回报"行动方案》。 自行动方案发布以来，公司积极开展和落实有关工作，并取得阶段性的成效和 进展。为维护公司全体股东利益，饯行"以投资者为本"的上市公司发展理念，公 司对《"提质增效重回报"行动方案》的执行情况进行了评估，现将2025年上半年 主要进展及工作成果报告如下： 一、聚焦公司主业，促进公司稳健发展 2025年 ...

股票代码：600727 股票简称：鲁北化工 编号：2025-043 山东鲁北化工股份有限公司 关于制定、修订相关制度的公告 特别提示 本公司董事会及全体董事成员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。 山东鲁北化工股份有限公司（以下简称"公司"）为进一步促进公司规范运作， 建立健全内部治理机制，根据《公司法》、《证券法》、《上海证券交易所股票上 市规则》、《上市公司独立董事管理办法》、《上海证券交易所上市公司自律监管 指引第 1 号——规范运作（2025 年 5 月）》等相关法律、法规以及规范性文件和《公 司章程》的规定，并结合公司实际情况，制定、修订了公司的相关制度，具体情况 如下表所示： | 序号 | 制度名称 | 类型 | 审议程序 | | --- | --- | --- | --- | | 1 | 鲁北化工董事会秘书工作制度 | 修订 | 董事会 | | 2 | 鲁北化工内部审计制度 | 修订 | 董事会 | | 3 | 鲁北化工对外担保制度 | 修订 | 董事会 | | 4 | 鲁北化工信息披露制度 | 修订 | 董事会 | | 5 ...

Core Viewpoint - Lubei Chemical reported a decline in both revenue and net profit for the first half of 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company achieved an operating income of 2.578 billion yuan, a year-on-year decrease of 8.43% [1] - The net profit attributable to shareholders was 78.1935 million yuan, reflecting a year-on-year decline of 46.62% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 76.5749 million yuan, also down 46.63% year-on-year [1] - Basic earnings per share were reported at 0.15 yuan [1]

鲁北化工公告，2025年上半年营业收入25.78亿元，同比下降8.43%。净利润7819.35万元，同比下降 46.62%。 ...