Core Viewpoint - China Chemical Engineering Fourth Construction Co., Ltd. (referred to as "Sihua Construction") has received a letter of appreciation from Anhui Linhuan Coking Co., Ltd. for its efforts in the construction of a 30,000 tons/year carbonate project, highlighting the company's commitment to high-quality project delivery and professional service [1] Group 1 - Sihua Construction has successfully completed several new energy and new material projects since June, including the ultra-pure high molecular weight polyethylene project and the lithium battery new material project, showcasing its strong performance [1][2] - The ultra-pure high molecular weight polyethylene project (140,000 tons/year) utilizes self-developed ultra-pure slurry technology and incorporates BIM technology for digital pre-assembly of pipelines and steel structures [1] - The lithium battery new material project (10,000 tons) will provide key raw material support for the lithium battery sector, with Sihua Construction overcoming technical challenges and ensuring safety during construction [2] Group 2 - The 30,000 tons/year carbonate project uses dimethyl carbonate (DMC) and ethanol as raw materials, employing advanced ester exchange technology to produce electronic-grade ethyl methyl carbonate (EMC) and diethyl carbonate (DEC) [2] - The project achieved a successful trial run with the first batch of electronic-grade EMC reaching a purity of 99.99%, demonstrating Sihua Construction's capability in handling large equipment installation challenges [2] - The 200,000 tons/year caustic soda relocation and energy-saving renovation project by Hubei Yihua is a key initiative responding to national environmental policies, completing the entire process in just 13 hours, setting a record in China's chlor-alkali industry [2]

Group 1 - The main structure of the China Chemical New Materials Innovation Platform base in Tianjin has been completed, marking a significant milestone for the project which focuses on new energy and new materials [1] - The project covers an area of 183,000 square meters with a total investment of 1 billion yuan, of which approximately 600 million yuan is allocated for the first phase [1] - This base is the first physical project invested by China Chemical Engineering Group's subsidiary, aiming to enhance the company's technological innovation and drive towards a smarter growth model [1] Group 2 - The base is equipped with various advanced catalyst technologies and pilot testing facilities, including ultra-high molecular weight polyethylene catalysts and advanced separation pilot devices [2] - The project introduces innovative cooperation models such as "T+EPC" and "T+Industry," establishing a comprehensive transformation system from concept validation to catalyst industrialization [2] - The base is actively promoting the construction of an open, modular, flexible, and multifunctional pilot testing platform to provide low-cost and efficient technological validation and industrial support for the industry [2]

Investment Rating - Industry Rating: Outperform the market (maintained rating) [7] Core Viewpoints - The report highlights that 2025 marks the 70th anniversary of the Xinjiang Autonomous Region, and under the support of policies and demand, regional infrastructure is expected to remain resilient. Key recommendations include China Railway and China Railway Construction in infrastructure, and companies like Sanwei Chemical and China Chemical in the coal chemical sector [1][15]. Summary by Sections Infrastructure Investment in Xinjiang - Significant traffic infrastructure projects are accelerating, with the establishment of the Xinjiang-Tibet Railway Company and plans for the new railway to commence construction in November 2025. Fixed asset investment in Xinjiang grew by 13% year-on-year in the first half of 2025, surpassing the national average of 10.2% [2][20]. - The Xinjiang government is focusing on enhancing investment efficiency and developing ten industrial clusters, including hydrogen energy and intelligent computing, indicating potential policy support for infrastructure development [3][25]. Coal Chemical Investment - The report estimates that planned coal chemical projects in China total 1,032.9 billion yuan, with Xinjiang accounting for 491.64 billion yuan. The average annual investment from 2025 to 2029 is projected to be 206.58 billion yuan, a 220.6% increase compared to the 2021-2023 average [4][27]. - Several major coal chemical projects are underway in Xinjiang, with significant investments expected to continue, highlighting the region's advantageous resource endowment [29][30]. Market Performance - The construction index rose by 1.83% in the week of August 4-8, 2025, outperforming the CSI 300 index by 0.11%. Notable stock performances included Shanghai Port and Xinjiang Communications Construction [6][34]. - The report emphasizes the importance of infrastructure investment in achieving economic growth targets, with a focus on water conservancy, railways, and aviation projects, particularly in high-growth regions like Sichuan and Zhejiang [40].

Core Viewpoint - The development of China's chemical reagent industry has evolved from reliance on imports to gradual self-sufficiency, transitioning from low-end general reagents to high-end specialized reagents, with significant growth projected in market size [1][8]. Group 1: Industry Definition and Classification - Chemical reagents are refined fine chemical products derived from industrial-grade chemicals, classified by usage into general chemical reagents, PCB chemical reagents, and ultra-pure reagents, and by purity levels ranging from experimental pure (≥90%) to high purity (≥99.99%) [2][10]. Group 2: Current Development Status - The chemical reagent industry in China has undergone five stages: initial stage, developmental stage, reform and opening-up stage, rapid development stage, and mature development stage, with the current market becoming increasingly competitive [5][7]. Group 3: Market Size and Growth - The market size of China's chemical reagent industry is expected to grow to 240 billion yuan in 2024, an increase of 18.6 billion yuan from 2023, and is projected to reach 260 billion yuan by 2025 [1][8]. Group 4: Industry Chain - The chemical reagent industry is a crucial branch of laboratory supplies and fine chemicals, with the upstream including chemical raw materials, packaging materials, and equipment; the midstream focusing on research and production; and the downstream applications spanning various fields such as pharmaceuticals, new materials, and environmental protection [10][12]. Group 5: Competitive Landscape - The global chemical reagent market is dominated by foreign companies, with major players including Sigma-Aldrich, Thermo Fisher Scientific, and Cayman Chemical, which collectively hold over 80% of the market share in China's research reagent market [14][15]. Group 6: Development Trends - The industry is experiencing transformation driven by technological advancements, with increasing demand for high-performance chemical reagents, particularly in the fields of biotechnology, pharmaceuticals, electronics, and new energy [18][19][20]. - Environmental sustainability is becoming a key trend, prompting the development of green chemical reagents that meet environmental standards [18].

Fundraising Overview - The company completed a non-public offering of shares in 2021, issuing 1,176,470,588 shares at a price of 8.50 CNY per share, raising a total of 9,999,999,998.00 CNY [1] - After deducting related issuance costs of 32,912,970.37 CNY, the net amount raised was 9,967,087,027.63 CNY [1] - The funds were verified by a certified public accountant, who issued a verification report on August 26, 2021 [1] Fund Management - The company established a fundraising management system in compliance with regulations from the China Securities Regulatory Commission and other relevant laws to ensure proper use of the raised funds [1] - A special account was opened for the storage of the raised funds, and a regulatory agreement was signed with the bank managing the account to protect investor interests [1] Account Closure - The company has completed the closure of all special accounts related to the raised funds due to the completion of fund usage [2] - The termination of the regulatory agreement corresponding to these accounts has also been finalized [2]

证券代码：601117 股票简称：中国化学 公告编号：临 2025-040 文件的有关规定，结合公司实际情况，制定了募集资金管理制度， 对募集资金的存储、使用及管理等方面做出了明确的规定，在制 度上保证募集资金的规范使用。为规范公司募集资金管理，保护 投资者权益，公司与募集资金专户开户银行签署了监管协议，开 设了募集资金专项账户，对募集资金实施专户存储。 三、募集资金专用账户注销情况 近日，因资金使用完毕，相关账户不再使用，公司已办理完 成募集资金专用账户的注销手续，本次注销及以往账号注销情况 具体如下： 中国化学工程股份有限公司 关于注销募集资金账户的公告 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。 一、募集资金基本情况 经中国证券监督管理委员会《关于核准中国化学工程股份有 限公司非公开发行股票的批复》（证监许可〔2021〕1364 号） 核准，公司 2021 年实施的非公开发行股票，实际发行普通股 1,176,470,588 股，发行价格为 8.50 元/股，共募集资金人民币 9,999,999,998.00 元，扣 ...

中化新网讯 近日，中国施工企业管理协会公布2025年工程建设企业改革深化提升行动十大典型案例评 选结果，中国化学（601117）天辰公司《完善科技创新体制 建设一流科技型企业 助力更好实现高水平 科技自立自强》案例成为石油和化工行业唯一入选的工程建设企业。 天辰公司在深化国企改革进程中深入践行高水平科技自立自强的央企使命，健全科技创新机制，以技术 研发为"核"为"芯"，驱动工程、实业、工程服务等板块协同发展，推动企业转型升级为集技术研发、工 程总承包、实业运营、国际贸易和投融资五大能力于一体的国际工程公司，连续四次获评"科改行动"标 杆企业，成为300余家科改企业中仅有的7家企业之一，为行业转型升级提供了央企实践样本。 ...

图为中国化学天辰公司与BUA化学公司签署甲醇合成氨尿素FEED设计合同。 (刘华怡 供图) 该项目充分利用当地丰富的天然气原料资源，采用成熟的天然气转化、甲醇合成以及合成氨、尿素工 艺，建设天然气制甲醇、合成氨和尿素装置，将有效降低原料采购和运输成本，显著提升项目经济性 能。项目建成后，不仅能为尼日利亚创造大量就业岗位、增加税收收入、促进产业升级、减少相关产品 进口依赖、推动经济多元化发展，还将深化两国在基础设施和能源资源领域的合作，为"一带一路"倡议 在非洲实现提供助力。 中化新网讯 近日，中国化学天辰公司与尼日利亚博阿(BUA)化学公司签署甲醇合成氨尿素前端工程与 设计(FEED)合同。 据介绍，本项目是中尼两国在化工领域合作的重要里程碑，FEED合同的签署标志着项目从前期规划阶 段迈入实质执行阶段，也是中国化学工程集团有限公司践行"一带一路"倡议、打造"三个重要窗口、一 张金色名片"，推动非洲清洁能源生产的具体举措。 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 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。 重要内容提示： ● 回购注销原因：根据中国化学工程股份有限公司（以下简称"公司"）《2022年限制性股票激励计划 （草案）》（以下简称"《激励计划》"）、《2022年限制性股票激励管理办法》《2022年限制性股票激 励实施考核管理办法》等相关规定，公司19名激励对象存在异动情况，不再符合激励条件，应对其所授 予的限制性股票总计184.80万股进行回购注销。本次注销完成后，公司总股本将由6,108,725,362股变更 为6,106,877,362股。 ● 本次注销股份的有关情况： 单位：万股 本次回购注销限制性股票涉及激励对象19人，合计拟回购注销限制性股票184.80万股。 ■ ● 实施情况：预计本次限制性股票将于2025年8月7日完成注销。 一、本次限制性股票回购注销的决策与信息披露 1.2025年4月28日，公司召开第五届董事会第二十五次会议及第五届监事会第十四次会议审议通过了 《关于回购注销部分限制性股票的议案》，同意本次 ...

Core Viewpoint - The company is implementing a buyback and cancellation of 1,848,000 restricted stocks due to changes in the status of 19 incentive recipients, which no longer meet the incentive conditions as per the 2022 Restricted Stock Incentive Plan [2][6]. Group 1: Buyback and Cancellation Details - The total number of restricted stocks to be repurchased and canceled is 1,848,000 shares, resulting in a change in total share capital from 6,108,725,362 shares to 6,106,877,362 shares [2][7]. - The cancellation of these stocks is expected to be completed by August 7, 2025 [3][7]. Group 2: Decision and Disclosure Process - The decision for the buyback and cancellation was approved in meetings held on April 28, 2025, and June 26, 2025, by the company's board and shareholders [4][5]. - The company has complied with legal requirements for notifying creditors regarding the reduction of registered capital due to this buyback [5]. Group 3: Reasons for Buyback - The buyback is necessitated by the changes in the status of the 19 incentive recipients, which include resignations and transfers to other positions within the parent company [6][7]. - The company has ensured that the decision-making process and information disclosure comply with relevant regulations and does not harm the rights of the incentive recipients or creditors [8]. Group 4: Legal Compliance - The legal opinion confirms that the buyback and cancellation process has received necessary approvals and complies with applicable laws and regulations [9].