Core Viewpoint - The demand for regenerated cellulose fibers is increasing due to rising environmental awareness and government policies, leading to expanded production and market opportunities in the industry [1][13]. Industry Overview - Regenerated cellulose fibers are made from natural cellulose sources without altering their chemical structure, resulting in improved physical properties such as moisture absorption and breathability compared to cotton [3][5]. - The production of regenerated cellulose fibers in China is projected to reach 5.155 million tons in 2024, representing a year-on-year increase of 7.5% [1][13]. - The main categories of regenerated cellulose fibers include viscose fibers and differentiated fibers, with viscose fibers dominating the market, expected to reach 4.435 million tons in 2024, accounting for 86% of the total production [14]. Industry Chain - The industry chain encompasses the procurement of raw materials like cotton, hemp, bamboo, and trees, leading to applications in clothing and home textiles [9][11]. - Regenerated cellulose fibers are widely used in clothing due to their breathability and moisture absorption, as well as in home textiles like towels and curtains [9]. Competitive Landscape - Leading companies in the regenerated cellulose fiber industry include Xinjiang Zhongtai Chemical Co., Ltd., Nanjing Chemical Fiber Co., Ltd., and New乡化纤股份有限公司, which leverage technology and brand strength to maintain market share [16][17]. - Smaller and medium-sized enterprises are also emerging, focusing on technological upgrades and niche market development [16]. Development Trends - The industry is expected to undergo intelligent upgrades, with technologies like vortex spinning enhancing production efficiency and product quality [21]. - Market demand for regenerated cellulose fibers is anticipated to grow across various sectors, including apparel, home textiles, and medical applications, driven by increasing environmental consciousness [22]. - There is a trend towards product diversification, with companies developing functional fibers to meet specific consumer needs, such as temperature-regulating and antibacterial properties [24].

Core Viewpoint - Nanjing Chemical Fiber Co., Ltd. is expected to report a significant net loss for the first half of 2025, with estimates ranging from RMB -98 million to -80 million for net profit attributable to shareholders [2][3]. Financial Performance Summary - The estimated net profit attributable to shareholders for the first half of 2025 is projected to be between RMB -98 million and -80 million [2][3]. - The estimated net profit attributable to shareholders after deducting non-recurring gains and losses is projected to be between RMB -102 million and -84 million [2][3]. - In the same period last year, the total profit was RMB -77.22 million, and the net profit attributable to shareholders was RMB -69.98 million, with a per-share loss of RMB -0.19 [2]. Reasons for Performance Decline - The company conducted impairment tests on inventory related to Lyocell fiber pulp and viscose short fibers, leading to increased operating losses due to asset impairment provisions [2][3]. - The depreciation of fixed assets increased significantly compared to the previous year due to the completion of construction projects at a wholly-owned subsidiary, Nanjing Jinling Biobased Fiber Co., Ltd. [2][3]. - Although the sales volume of PET foaming products increased significantly at the controlling subsidiary, Shanghai Yueke New Materials Co., Ltd., the sales prices declined due to industry competition, resulting in a narrower operating loss despite initial improvements in gross margin through cost reduction measures [2][3].

股票代码： 600889 股票简称：南京化纤 编号：2025-039 （二）业绩预告情况 1、经公司财务部门初步测算，预计公司 2025 年半年度实现归属于上市公司 股东的净利润为人民币-9,800 万元到-8,000 万元。 2、预计公司 2025 年半年度实现归属于上市公司股东的扣除非经常性损益的 净利润为人民币-10,200 万元到-8,400 万元。 南京化纤股份有限公司 2025 年半年度业绩预告 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： 一、本期业绩预告情况 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 6 月 30 日。 3、本次业绩预告未经会计师事务所审计。 二、上年同期经营业绩和财务情况 （一）利润总额：-7,722.07 万元。归属于上市公司股东的净利润：-6,997.54 万元。归属于上市公司股东的扣除非经常性损益的净利润：-7,112.03 万元。 （二）每股收益：-0.19 元。 适用情形：净利润为负值。 南京化纤股份有限公司（以下简称"公司"）预计 2 ...

Core Viewpoint - Nanjing Chemical Fiber (600889) expects a net profit attributable to shareholders of the listed company to be between RMB -980 million and -800 million for the first half of 2025, indicating a significant loss [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses is projected to be between RMB -1.02 billion and -840 million [1] Financial Summary - Expected net profit range: RMB -980 million to -800 million [1] - Expected net profit after deducting non-recurring items: RMB -1.02 billion to -840 million [1] - The profit forecast has not been audited by an accounting firm [1]

Core Viewpoint - Nanjing Chemical Fiber Co., Ltd. has received an inquiry letter from the Shanghai Stock Exchange regarding its major asset replacement, issuance of shares, cash payment for asset acquisition, and fundraising for related transactions [1][2]. Group 1 - The company’s board of directors guarantees that the announcement contains no false records, misleading statements, or significant omissions, and they bear individual and joint responsibility for the authenticity, accuracy, and completeness of the content [1]. - The inquiry letter was issued on July 8, 2025, and is related to the company's application for major asset replacement and associated transactions [1][2]. - The company, along with relevant intermediary institutions, will verify and address the issues raised in the inquiry letter and disclose responses within the specified timeframe [2]. Group 2 - The major asset replacement and related transactions are subject to approval by the Shanghai Stock Exchange and registration with the China Securities Regulatory Commission, with uncertainties regarding the approval and registration timeline [2]. - The company commits to timely information disclosure in accordance with relevant laws and regulations based on the actual progress of the transaction [2].

股票代码： 600889 股票简称：南京化纤 编号：2025-038 南京化纤股份有限公司 关于公司收到上海证券交易所《关于南京化纤股份有限公司重大 资产置换、发行股份及支付现金购买资产并募集配套资金暨关联 交易申请的审核问询函》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。 南京化纤股份有限公司（以下简称"公司"）于 2025 年 7 月 8 日收到上海证 券交易所（以下简称"上交所"）出具的《关于南京化纤股份有限公司重大资产 置换、发行股份及支付现金购买资产并募集配套资金暨关联交易申请的审核问询 函》（上证上审（并购重组）〔2025〕47 号）（以下简称"问询函"）。根据《公司 法》《证券法》《上市公司重大资产重组管理办法》《上海证券交易所上市公司重 大资产重组审核规则》等法律、法规及上交所有关规定，上交所审核机构对公司 重大资产置换、发行股份及支付现金购买资产并募集配套资金暨关联交易申请文 件进行了审核，并形成了问询问题。 公司与相关中介机构将按照问询函的要求，对相关问题逐项核查、落实后在 规定期限内披露对 ...

Group 1 - The company plans to acquire 100% of Nanjing Process Equipment Manufacturing Co., Ltd. through asset replacement, issuance of shares, and cash payment, along with raising supporting funds [1] - This transaction is classified as a major asset restructuring according to the regulations of the Management Measures for Major Asset Restructuring of Listed Companies, and it will not result in a change of the actual controller of the company [1] - The Shanghai Stock Exchange has accepted the application for the transaction, confirming that the application documents are complete and comply with legal requirements [1] Group 2 - The transaction is subject to approval from relevant regulatory authorities, and there is uncertainty regarding whether the necessary approvals will be obtained and the timeline for such approvals [2]

上海市锦天城律师事务所 关于南京化纤股份有限公司 重大资产置换、发行股份及支付现金购买资产并募集配套资 金暨关联交易 之 法律意见书 邮编：200120 地址：上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 电话：021-20511000 传真：021-20511999 | 声明事项 | 3 | | --- | --- | | 释 | 义 5 | | 正 文 | 9 | | 一、 | 本次交易方案 9 | | 二、 | 本次交易相关各方的主体资格 35 | | 三、 | 本次交易的相关合同和协议 59 | | 四、 | 本次交易的批准和授权 60 | | 五、 | 本次交易的拟置出资产情况 61 | | 六、 | 本次交易的拟置入资产情况 79 | | 七、 | 本次交易涉及的债权债务处理及职工安置 110 | | 八、 | 关联交易与同业竞争 112 | | 九、 | 信息披露 114 | | 十、 | 关于股票买卖情况的自查 115 | | 十一、 | 本次交易的实质条件 116 | | 十二、 | 证券服务机构 123 | | 十三、 | 结论 124 | 上海市锦天城律师事务所 法 ...

中信证券股份有限公司 关于南京化纤股份有限公司 重大资产置换、发行股份及支付现金购买资产 并募集配套资金暨关联交易 之 独立财务顾问报告 独立财务顾问 二〇二五年五月 南京化纤股份有限公司重大资产置换、发行股份及支付现金购买资产并募集配套资金暨关联交易之独立财务顾问报告 独立财务顾问声明和承诺 一、独立财务顾问声明 （一）本独立财务顾问与本次交易各方无任何关联关系。本独立财务顾问本 着客观、公正的原则对本次交易出具独立财务顾问报告； 2-1-1-1 南京化纤股份有限公司重大资产置换、发行股份及支付现金购买资产并募集配套资金暨关联交易之独立财务顾问报告 二、独立财务顾问承诺 依照《上市公司重大资产重组管理办法》（2023 年修订）《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》（2023 年修 订）《上市公司并购重组财务顾问业务管理办法》及其他相关法规规范要求，中 信证券股份有限公司出具了《独立财务顾问报告》，并作出如下承诺： （二）本独立财务顾问报告所依据的文件和材料由本次交易各方提供，提供 方对所提供文件及资料的真实性、准确性和完整性负责，并保证该等信息不存在 虚假记载、误 ...

股票代码： 600889 股票简称：南京化纤 编号：2025-037 南京化纤股份有限公司 关于公司重大资产置换、发行股份及支付现金购买资产并募集配 套资金暨关联交易报告书（草案）（申报稿）修订说明的公告 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。 南京化纤股份有限公司（以下简称"公司"或"上市公司"）拟通过资产置 换、发行股份及支付现金的方式购买南京工艺装备制造股份有限公司 100%股份， 并募集配套资金（以下简称"本次交易"）。本次交易构成《上市公司重大资产重 组管理办法》规定的重大资产重组，不会导致公司实际控制人发生变更，不构成 重组上市，构成关联交易。 公司于 2025 年 6 月 24 日收到上海证券交易所（以下简称"上交所"）出具 的《关于受理南京化纤股份有限公司发行股份购买资产并募集配套资金申请的通 知》（上证上审（并购重组）[2025] 38 号），并披露了《南京化纤股份有限公司 重大资产置换、发行股份及支付现金购买资产并募集配套资金暨关联交易报告书 （草案）（申报稿）》（以下简称"重组报告书（申报稿 ...