证券代码：601117 股票简称：中国化学 公告编号：临 2025-048 中国化学工程股份有限公司 关于经营情况简报公告的更正公告 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 担法律责任。 中国化学工程股份有限公司于 2025 年 9 月 20 日在上海证券 交易所网站及指定媒体上披露了《中国化学关于经营情况简报的 公告》（公告编号：临 2025-047）。经核查发现，上述公告中"三、 重大合同列示"中的第 5 项项目合同名称出现笔误，现对相关内 容更正如下： 一、更正前 单位：亿元 币种：人民币 二、更正后 单位：亿元 币种：人民币 | 序号 | 单位名称 | 项目合同名称 | 合同金额 | | --- | --- | --- | --- | | 5 | 中国化学工程第 十六建设有限公 | 广西自贸区宏坤生物质燃料有 | 6.00 | | | | 限公司宏坤年产 60 万吨生物航 | | | | | 煤项目(一期)一标段工程施工 | | | | 司 | | | | | | 合同 | | 1 除上述更正内容外，原公告其他内容保持不变 ...

Group 1 - Tianchen Company signed an EPC general contracting agreement for a project to produce 2.6 million tons of coke and utilize resources, with an initial phase of 1.3 million tons of coke and an LNG facility [1] - The collaboration between Tianchen Company and Shandong Energy Xinkun Group reflects a long-standing partnership and mutual trust, aiming to deepen cooperation in the energy and chemical sectors [1] - The project is significant for optimizing the regional energy structure and enhancing energy utilization efficiency, aligning with Shandong Energy Group's strategic mission of creating green energy and leading energy transformation [2] Group 2 - The project is crucial for the local coal industry in Inner Mongolia, expected to generate an annual output value of 3.5 billion yuan once fully operational [2] - The implementation of the project will promote the rational use of local coal resources, accelerate resource conversion, and extend the industrial chain, achieving a balance of economic, social, and environmental benefits [2]

Core Viewpoint - China Chemical (601117.SH) has reported significant contract signings and steady profit growth, reinforcing its position as a leading player in the oil and chemical engineering sector in China [1][4]. Group 1: Contract and Revenue Performance - In the first eight months of 2025, China Chemical signed new contracts worth 256.34 billion yuan, slightly up from 256.12 billion yuan in the same period of 2024 [2]. - Domestic contracts accounted for 206.05 billion yuan, showing a notable increase of 6.52% year-on-year, while overseas contracts decreased by 19.77% to 50.29 billion yuan [2]. - Major contracts include a 1.42 billion yuan project in Zambia and a 986 million yuan project in Xinjiang [2]. Group 2: Profit Growth - In the first half of 2025, the company achieved a net profit of 3.10 billion yuan, reflecting a year-on-year growth of 9.26% [4]. - Over the past seven and a half years, the cumulative net profit reached 32.92 billion yuan, with consistent growth in net profit during this period [5]. Group 3: Business Operations and Innovations - China Chemical has implemented the "T+EPC" model, successfully winning several major projects and maintaining its status as the top contractor in the global oil and gas sector [3]. - The company has invested 2.72 billion yuan in R&D in the first half of 2025, marking a 14.19% increase, and holds 5,730 authorized patents [6].

Core Viewpoint - The collaboration between China Chemical SEDIN Engineering Co., Ltd. and Jinneng Holding Equipment Manufacturing Group Co., Ltd. has successfully developed five JM-S gasifiers, which are currently operating stably in a 550,000-ton/year ammonia project, demonstrating significant energy-saving and emission reduction effects. Group 1 - The JM-S gasifier has a unit product energy consumption of 1,130 kg of standard coal per ton for the ammonia synthesis process [1] - SEDIN has built and put into operation over 200 gasifiers since the 1970s, widely applied in coal-to-natural gas and ammonia synthesis [1] - Recent technological optimizations have led to the development of a smoke-free block coal gasification JM-S gasifier, successfully applied in multiple projects [1] Group 2 - The project effectively utilizes energy through a graded energy recovery process, reducing the amount of compressed coal lock gas by over 30% [2] - The low-pressure saturated steam from the low-temperature by-product is used for power generation, achieving an annual electricity generation of 57.6 million kWh, saving 23,000 tons of standard coal and reducing carbon emissions by 62,200 tons [2]

Core Insights - China Chemical Tianchen Company has been awarded the 2025 China Future Enterprise Award for its independently developed Chemical Hydrogen Energy Optimization Model Management System [1] - The system integrates artificial intelligence technology and provides intelligent support across key project management phases, including design, procurement, and construction [1] - This award highlights the company's efforts in digital transformation and its role as a significant driver for the company's transition towards high-end and intelligent operations [1] Company Summary - The Chemical Hydrogen Energy Optimization Model Management System is a proprietary technology with independent intellectual property rights developed by Tianchen Company [1] - The system effectively overcomes the limitations of existing single energy system simulations by leveraging multi-energy system collaborative simulation capabilities [1] - It aims to enhance the efficiency of digital empowerment in design, procurement, and construction while achieving comprehensive optimization of energy systems and efficient resource allocation [1] Industry Recognition - The IDC Future Enterprise Award has been established for 10 years, recognizing efforts and achievements in digital transformation across various organizations and individuals [1] - The award process includes public solicitation, voting, and evaluations by internal and external experts to identify representative digital transformation cases [1] - This recognition underscores the commercial value of digital transformation and celebrates pioneers in future business [1]

Investment Rating - The report maintains a "Positive" investment rating for the construction and engineering industry [12] Core Insights - The report highlights the strategic importance of Xinjiang as a key area for investment and development, particularly in infrastructure projects, due to its geographical advantages and government support [6][8] - Significant infrastructure projects are set to accelerate in Xinjiang, including the China-Kyrgyzstan-Uzbekistan railway and coal chemical projects, which are expected to create investment opportunities for related companies [7][10] - The report emphasizes the transition of Xinjiang from a coal base to a coal chemical base, with substantial capacity and project approvals in the coal chemical sector [8] Summary by Sections Government Policy and Strategic Importance - The State Council's white paper on Xinjiang outlines a new strategy for development, emphasizing the region's role in the Belt and Road Initiative and its importance in national energy security [2][6] - Xinjiang is positioned as a critical hub connecting mainland China with European economies, benefiting from favorable policies and funding [6] Major Projects and Investment Opportunities - The report identifies several major projects, including the China-Kyrgyzstan-Uzbekistan railway, which is set to begin construction with an investment of approximately 8 billion USD [9] - The report notes that Xinjiang's coal chemical projects are advancing, with a total investment of 700-800 billion CNY and multiple projects receiving environmental approvals [8] Company Focus and Order Release - Companies such as China Chemical and China Railway Construction are expected to benefit from increased orders due to the acceleration of infrastructure projects in Xinjiang [10] - The report highlights the strong technical capabilities of China Chemical in the coal chemical sector, which is likely to enhance its order flow and performance [10]

Investment Rating - The industry rating is maintained at "Outperform the Market" [7] Core Viewpoints - The construction sector in Xinjiang is expected to benefit from policy catalysts as the region celebrates its 70th anniversary in 2025, with significant infrastructure investments projected [2][15] - The construction sector outperformed the broader market, with a weekly increase of 0.21% compared to a 0.91% decline in the CSI 300 index [6][15] - The focus on major transportation infrastructure projects, particularly the New Tibet Railway, is anticipated to drive investment growth in Xinjiang [20][21] Summary by Sections Investment Opportunities in Xinjiang - The fixed asset investment growth in Xinjiang for the first eight months of 2025 is 9.1%, surpassing the national average by 0.5% [2][15] - Major projects in transportation infrastructure, such as the New Tibet Railway, are set to commence, with a planned increase in public road investment exceeding 10% in 2025 [3][23] Coal Chemical Industry - The total planned investment for coal chemical projects nationwide is estimated at 1,032.9 billion, with Xinjiang accounting for 491.64 billion [4][32] - The average annual investment in coal chemical projects from 2025 to 2029 is projected to be 206.58 billion, a 220.6% increase compared to the average from 2021 to 2023 [4][33] Cement and Construction Materials - The cement shipment rate has shown a slight recovery, reaching 48.33%, indicating a positive trend in construction activity [5][35] - The issuance of special bonds remains robust, with a cumulative issuance of 3,264.137 million in the first eight months of 2025, reflecting a year-on-year increase of 26.9% [5][35]

Group 1 - The core viewpoint of the articles highlights the growth in China's chemical fiber industry, with a projected production of 7.35 million tons in May 2025, representing a year-on-year increase of 5.2% [1] - Cumulative production from January to May 2025 is reported at 35.037 million tons, showing a cumulative growth of 5.5% [1] - The articles reference a market analysis report by Zhiyan Consulting, which covers the operational status and investment prospects of the chemical fiber industry in China from 2025 to 2031 [1][2] Group 2 - Listed companies in the chemical fiber sector include Xinxiang Chemical Fiber, Hengli Petrochemical, Huafeng Superfiber, and others [1] - Zhiyan Consulting is recognized as a leading industry consulting firm in China, providing comprehensive industry research reports and tailored services [2]

Group 1 - Honghe Technology plans to increase capital by 300 million yuan to its wholly-owned subsidiary Huangshi Honghe through debt-to-equity conversion, raising its registered capital from 700 million yuan to 1 billion yuan [1] - Huaxia Happiness has completed debt restructuring amounting to approximately 192.67 billion yuan, with a total of 24 billion yuan in overdue debts as of August 31 [1] - Chengyi Pharmaceutical's controlling shareholder plans to reduce its stake by up to 1.18%, amounting to 387,560 shares [1][2] Group 2 - Yuanwang Valley received a warning letter from the Shenzhen Securities Regulatory Bureau for failing to halt trading when its controlling shareholder's stake changed to a multiple of 5% [2] - Gongjin Co. received government subsidies of 8.9 million yuan, accounting for 11.13% of its latest audited net profit [3] - Maiwei Biotech's application for the listing of 9MW0813 injection has been accepted by the National Medical Products Administration [4] Group 3 - Jianfeng Group plans to repurchase shares worth between 20 million and 40 million yuan at a maximum price of 12.42 yuan per share [6] - Ankai Micro plans to invest 20 million yuan to acquire a 4% stake in Shiqi Future [7] - Pinming Technology's stock will continue to be suspended as it is actively pursuing a significant matter that may lead to a change in control [8] Group 4 - China Communications has signed new contracts worth 256.34 billion yuan from January to August, with domestic contracts totaling 206.05 billion yuan [18] - Round Express reported a revenue of 5.39 billion yuan in August, a year-on-year increase of 9.82% [38] - China Pacific Insurance's original insurance premium income reached 217.05 billion yuan from January to August, up 13.2% year-on-year [39] Group 5 - *ST Chuangxing's chairman is under investigation, and the general manager will act as the chairman during this period [40] - Fengshan Group signed a technical development contract with Tsinghua University for a project related to sodium-ion battery electrolytes [40] - Yongxin Optical stated that its optical components related to lithography machines account for less than 1% of its revenue [41] Group 6 - Tianyuan Dike's subsidiary received a government subsidy of 3.77 million yuan, representing 16.27% of its latest audited net profit [42] - Huaxiang Co. plans to issue convertible bonds to raise no more than 1.308 billion yuan for various projects [43] - Wolong Electric Drive reported that its robot-related products accounted for only 2.71% of total revenue in the first half of the year [44]

中国化学工程股份有限公司 关于经营情况简报的公告 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 担法律责任。 现将公司 2025 年 1—8 月主要经营情况公布如下，供各位投 资者参阅。 证券代码：601117 股票简称：中国化学 公告编号：临 2025-047 | 序 号 | 单位名称 | 项目合同名称 | 合同金额 | | --- | --- | --- | --- | | 1 | 中国五环工程有 | 赞比亚中大化工 30 万吨/年 MAP 项目 | 约 14.20 | | | 限公司 | 总承包合同 | （折合人民币） | | | 中化二建集团有 | 新疆中鑫环泰能源有限公司 260 万吨 焦炭/年煤焦化多联产（焦化+化产深加 | | | 2 | 限公司 | 工）项目采购、施工（PC）总承包合 | 9.86 | | | | 同 | | | | 中国化学工程第 | 安徽科磊镁业有限公司年产 20 万吨镁 | | | 3 | 三建设有限公司 | 合金板材项目设备采购安装施工总承 | 9.00 | | | | 包 | | | | 中国化 ...