Core Viewpoint - The company is preparing for its 2025 annual general meeting, where it will discuss various financial reports, budget proposals, and other significant corporate actions, including profit distribution and investment plans [2][3]. Group 1: Financial Reports and Budgets - The company reported a revenue of 185.84 billion yuan for 2024, an increase of 4.20% year-on-year, with a net profit of approximately 5.69 billion yuan [4][9]. - The 2025 revenue budget is set at 195 billion yuan, reflecting a growth of 4.49% compared to the 2024 completion value [8]. - The company plans to distribute a cash dividend of 1.86 yuan per 10 shares, which represents 32.83% of the net profit for 2024 [9][10]. Group 2: Financial Guarantees and Investments - The company intends to provide financial guarantees totaling 16.1 billion yuan to its subsidiaries for business development needs [11]. - The total investment plan for 2025 is set at 9.889 billion yuan, with 7.121 billion yuan allocated for fixed asset investments and 2.768 billion yuan for equity investments [21][22]. Group 3: Corporate Governance and Reports - The board of directors has emphasized the importance of governance and has made efforts to enhance the company's operational efficiency and risk management [26][32]. - The supervisory board has confirmed that the company's financial operations are sound and compliant with regulations, with no significant issues reported during the year [39][40].

中国化学工程股份有限公司 2024年年度股东会 会议资料 二○二五年六月 中国化学工程股份有限公司 2024 年年度股东会会议议程 一、会议议程 时间：2025 年 6 月 26 日（星期四）14:30 地点：北京市东城区东直门内大街 2 号 中国化学大厦 | 时 间 | 议 程 | | --- | --- | | 14:00-14:20 | 股东登记，会议签到 | | 14:30-16:00 | 一、宣布会议开始，介绍参会人员情况 | | | 二、汇报、审议议案 | | | 三、推选监票人 | | | 四、投票表决 | | | 五、计票、监票 | | | 六、宣布表决结果 | | | 七、律师发表法律意见 | | | 八、签署会议文件，宣布会议结束 | 二、网络投票 网络投票系统：上海证券交易所股东大会网络投票系统。 网络投票起止时间：自 2025 年 6 月 26 日至 2025 年 6 月 26 日。 采用上交所网络投票系统，通过交易系统投票平台的投 票时间为股东会召开当日的交易时间段，即 9:15-9:25，9:3 0-11:30，13:00-15:00；通过互联网投票平台的投票时间为 股东会召开当日 ...

Core Insights - China Chemical's business expansion aligns with expectations, with a total contract amount of approximately 150.8 billion yuan signed in the first five months of the year [2][3] - The company has a strong presence in over 80 countries and regions globally, with foreign market revenue accounting for about 20% in both 2023 and 2024 [2] - The company has invested over 18 billion yuan in R&D over the past three years, resulting in 5,730 authorized patents by the end of 2024 [2][14] Contract Details - In the first five months, China Chemical signed 1,829 contracts totaling 150.83 billion yuan, with 1,162 construction contracts amounting to 145.33 billion yuan, representing 63.53% and 96.36% of the total respectively [4][5] - The core chemical engineering business accounted for 1,169 billion yuan of the new contracts, making up 77.51% of the total contract amount [4][5] - Domestic and foreign market contracts amounted to 1,310.24 billion yuan and 198.01 billion yuan, respectively, with shares of 86.87% and 13.13% [5] Financial Performance - From 2018 to 2024, the company has achieved continuous growth in revenue and net profit for seven consecutive years [10][11] - In Q1 of this year, the company reported a net profit attributable to shareholders of 1.445 billion yuan, an increase of over 18% year-on-year [2][11] - The company’s total revenue for 2024 is projected to reach 186.61 billion yuan, with a year-on-year growth of 6.89% in the chemical engineering business [5][7] R&D and Innovation - The company emphasizes R&D as a driver for steady growth, with a total R&D investment of 183.56 billion yuan from 2022 to 2024 [14] - The company has developed key technologies in green environmental protection and hydrogen utilization, addressing critical technology bottlenecks [13][14] - The workforce includes 5,824 R&D personnel, accounting for 11.42% of the total staff [14]

Investment Rating - The industry rating is "Outperform the Market" (maintained rating) [4] Core Viewpoints - The western fixed asset investment (FAI) is experiencing high growth, with the issuance of special bonds accelerating, which will provide stronger support for infrastructure [1][21] - The GDP growth rate in the western region from 2019 to 2024 has reached a compound annual growth rate (CAGR) of 7%, with significant support from central financial policies and national strategic planning [28][32] - The issuance of special bonds in the central and western regions has significantly accelerated, with a notable increase in new special bonds in provinces like Sichuan and Shaanxi [21][32] Summary by Sections 1. High Prosperity of Western Fixed Asset Investment - The western region has maintained double-digit growth in FAI, with provinces like Inner Mongolia, Xinjiang, and Tibet showing strong performance [1] - The issuance of special bonds has increased significantly, with Sichuan's issuance up by 162% year-on-year [21] 2. Investment Opportunities in Key Regions - **Sichuan-Chongqing**: The transportation planning investment in Sichuan during the 14th Five-Year Plan is expected to increase by 16.5% compared to the previous plan, benefiting local construction companies [2][36] - **Tibet**: Active mining and robust infrastructure projects are expected to drive high regional investment demand, with significant projects like the construction of major copper mines [2][48] - **Xinjiang**: The coal chemical industry is thriving, with nearly 500 billion yuan invested in the past five years, and the region is expected to see continued infrastructure support [3][60] 3. Major Infrastructure Projects Boosting Regional Investment - The construction of the Pinglu Canal is expected to significantly enhance water transport infrastructure in Guangxi, with a total investment of approximately 727 billion yuan [3] - The Western Land-Sea New Corridor is projected to connect multiple provinces and enhance regional infrastructure growth, with completion expected by 2035 [3][60] 4. Investment Recommendations - Key stocks recommended include Sichuan Road and Bridge, China Chemical, and China Energy Engineering, all rated as "Buy" [9][47]

Core Viewpoint - The article highlights significant new contracts signed by China Chemical in the first five months, totaling 150.825 billion yuan, with a focus on major chemical new materials and renewable energy projects [1]. Group 1: Major Projects Overview - Gansu Juhua New Materials Co., Ltd. is launching a high-performance silicon-fluorine materials integration project with a total investment of approximately 4.1047 billion yuan, set to produce various silicon and fluorine-based products, including 360,000 tons of industrial silicon and 100,000 tons of polycrystalline silicon annually, starting construction on January 28, 2024 [1]. - CNOOC Shell Petrochemicals Co., Ltd. is developing a polycarbonate project in Huizhou with a total investment of 9.3 billion yuan, which will include a 240,000 tons/year bisphenol A unit and is expected to be completed by the end of 2026 [2]. - Shaanxi Yunen Fine Chemical Materials Co., Ltd. is undertaking a 1 million tons/year high-end chemical materials project with a total investment of 10.3 billion yuan, including multiple production units for DMTA, ethylene oxide, and hydrogen peroxide [3]. - Fujian Haichen Chemical Co., Ltd. is investing approximately 14.8 billion yuan in a project to produce 400,000 tons/year of adiponitrile and related raw materials, expected to be operational by October 2026 [4]. - Zhejiang Petrochemical's high-end new materials project has a total investment of 42.82911 billion yuan, featuring 18 production units, including a 1 million tons/year acetic acid unit and a 600,000 tons/year methanol unit [5]. - Hebei Haiweilan Chemical is planning a 1 million tons/year propane dehydrogenation project with an estimated investment of 766.498 million yuan, utilizing propane from oilfield associated gas [6]. - Dushanzi Petrochemical's Tarim 1.2 million tons/year ethylene supporting green low-carbon demonstration project has a total investment of 25.656 billion yuan, with completion expected by 2026 [7]. - Yitai Yili Energy Co., Ltd. is investing 18.3 billion yuan in a coal-to-oil project with an annual output of 1.0582 million tons of various products [8]. - Xinjiang Zhongxin Huan Tai Energy Co., Ltd. is developing a 2.6 million tons/year coking and deep processing project with a total investment of 5.176 billion yuan [9]. - An Egyptian bioethanol project is set to produce 100,000 tons/year of fuel ethanol, led by the Egyptian Bioethanol Company [10]. - Tianchen Company has completed projects in grain deep processing and bioethanol with a cumulative capacity of 1.45 million tons/year [11]. - China Coal Ordos Energy Chemical Co., Ltd. is investing 4.9 billion yuan in a liquid sunshine project, utilizing renewable energy for hydrogen production [12]. - Xinjiang Chuangbo New Energy Materials Co., Ltd. is developing a 100,000 tons/year PCDL unit, which is a high-performance polyol product [13]. - Wanli Tire Co., Ltd. is investing 5 billion USD (approximately 3.6 billion yuan) in a rubber tire project in Cambodia, with a planned capacity of 6 million semi-steel tires in the first phase [14]. - Guangdong Yun Sulfur Environmental New Materials is investing 1 billion yuan in a phosphoric acid project, utilizing proprietary technology [15]. - An Egyptian industrial silicon project is set to produce high-grade industrial silicon, marking a significant collaboration in the renewable energy sector [16].

Group 1 - China Chemical signed contracts totaling 150.825 billion yuan in the first five months, with 131.024 billion yuan from domestic contracts and 19.801 billion yuan from overseas contracts [4] - Changhong Meiling's subsidiary plans to invest 877 million yuan in a smart home appliance industrial park project [13] - Dazhong Mining intends to invest 1 billion yuan in a project to produce 3,000 tons of lithium battery materials annually [15] - Yongzhen Co. plans to invest 1.31 billion yuan in a Baotou energy storage power station project [8] - Wuliangye Group has spent 606 million yuan to repurchase 4.7037 million shares [11] Group 2 - Wolong Electric Drive plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global strategy and competitiveness [1] - Zhongman Petroleum won the exploration and development rights for the Zerafa II natural gas block in Algeria, covering an area of 38,697.73 square kilometers [2] - Xinfengming's wholly-owned subsidiary intends to acquire 36% of Jinlian Port's equity for 70.08 million yuan [3] Group 3 - Xinda Real Estate received approval to issue bonds totaling up to 3 billion yuan to professional investors [5] - Xiaogoods City plans to establish a wholly-owned subsidiary in Hong Kong and apply for a TCSP license to enhance its financial service system [6] - ST Changyuan's subsidiary plans to sell 25% of Changyuan Electronics to Wolong Nuclear Materials for 340 million yuan, resulting in an estimated investment loss of 264 million yuan [8] Group 4 - Aikedi plans to repurchase shares worth between 100 million and 200 million yuan for employee stock ownership plans or equity incentives [9] - Qingda Environmental Protection expects a revenue increase of 75.12% to 143.22% year-on-year, projecting revenue between 900 million and 1.25 billion yuan for the first half of the year [10] - Huate Dayin's shareholder Guo Weishong increased his stake to 5% through market transactions [10] Group 5 - ST Hengli received a decision for stock delisting, with trading expected to end on July 15 [12] - Yingsite plans to invest 650 million yuan in a rare earth permanent magnet materials project [16]

证券代码：601117 股票简称：中国化学 公告编号：临 2025-028 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 担个别及连带责任。 1 业务类型 数量 合同金额 建筑工程承包 1162 1453.28 其 中 化学工程 978 1169.00 基础设施 170 265.56 环境治理 14 18.72 勘察设计监理咨询 667 11.80 实业及新材料销售 40.21 现代服务业 2.73 其他 0.23 合计 1829 1508.25 单位：亿元 币种：人民币 二、 按地区分布统计 单位：亿元 币种：人民币 | 地区 | 合同金额 | | --- | --- | | 境内 | 1310.24 | | 境外 | 198.01 | | 合计 | 1508.25 | 三、 重大合同列示 5 月，公司单笔合同额在人民币 5 亿元以上的重大合同主要 如下： 现将公司 2025 年 1—5 月主要经营情况公布如下，供各位投 资者参阅。 一、 按业务类型统计 | 序 号 | 单位名称 | ...

Summary of Key Points Core Viewpoint - The announcement provides an overview of the operational performance of China Chemical Engineering Co., Ltd. for the first five months of 2025, highlighting contract amounts and business types, as well as regional distribution of contracts [1]. By Business Type - Total contracts signed amounted to 150.83 billion RMB, with the following breakdown: - Construction Engineering: 1162 contracts worth 145.33 billion RMB - Chemical Engineering: 978 contracts worth 116.90 billion RMB - Infrastructure: 170 contracts worth 26.56 billion RMB - Environmental Management: 14 contracts worth 1.87 billion RMB - Surveying, Design, Supervision, and Consulting: 667 contracts worth 1.18 billion RMB - Sales of Industrial and New Materials: 4.02 billion RMB - Modern Service Industry: 273 million RMB - Others: 2.3 million RMB [1]. By Regional Distribution - The total contract amount of 150.83 billion RMB is distributed as follows: - Domestic: 131.02 billion RMB - Overseas: 19.80 billion RMB [1]. Major Contracts Listed - Significant contracts include: - High-performance silicon fluoride project with a contract amount of 4 billion RMB - Design and construction contract for Tianjin Bohua South Port Storage Co., Ltd. - EPC contract for the ERG 80MW exhaust power generation project in Kazakhstan worth approximately 6.18 billion RMB [2].

Core Viewpoint - The article highlights the achievements and innovations of China Chemical's subsidiary, Wuhuan Engineering Co., in the phosphate chemical industry, emphasizing its role in enhancing domestic production capabilities and expanding into international markets through advanced technologies and sustainable practices [2][4][20]. Group 1: Company Achievements - Wuhuan Engineering has developed a patented large-scale wet phosphoric acid production technology, breaking foreign monopolies and helping China become the world's largest producer of phosphate fertilizers [4][10]. - As of May 2025, Wuhuan has designed and constructed 36 large-scale wet phosphoric acid plants in China, with a total capacity exceeding 8.3 million tons of P2O5 per year, accounting for approximately 40% of the national total capacity [5][6]. - The company has received numerous awards for its engineering projects, including national quality engineering awards, reflecting its strong performance in the phosphate chemical sector [9]. Group 2: Technological Innovations - Wuhuan has pioneered the semi-hydrate and dihydrate phosphoric acid production technology, which significantly reduces energy consumption by 48% compared to traditional methods, while improving product quality [11][13]. - The company has established a comprehensive research and development framework, including a laboratory for evaluating phosphate rock, to support the advancement of its technologies [13][14]. - Wuhuan's innovative approach to treating phosphogypsum, a byproduct of phosphate production, includes a unique purification and modification technology that allows for resource recovery and safe disposal [14][17]. Group 3: Environmental and Strategic Initiatives - The company is actively involved in ecological protection efforts along the Yangtze River, contributing to the development of high-quality chemical industry plans and carbon neutrality initiatives [18][19]. - Wuhuan has developed integrated solutions for the transformation and upgrading of chemical enterprises, promoting sustainable practices in the industry [19]. - The company aims to balance industrial growth with environmental stewardship, ensuring that its operations contribute positively to the ecosystem [18][19]. Group 4: International Expansion - Wuhuan has successfully expanded its operations internationally, undertaking significant phosphate chemical projects in countries such as Tunisia, Pakistan, and Indonesia, showcasing its engineering capabilities on a global scale [20][21]. - The successful implementation of the Tunisian project marked a milestone in Wuhuan's international journey, demonstrating its ability to deliver high-quality projects using proprietary technology [20][21]. - The company's global footprint reflects its commitment to leveraging domestic expertise to compete in the international market, enhancing its reputation as a leader in the phosphate chemical industry [20][21].

Core Viewpoint - Shanghai Jieda Chemical Co., Ltd. is advancing its nylon industry chain through a resource utilization project, enhancing the value and sustainability of the nylon production process [1][4]. Group 1: Project Overview - The second phase of the nylon industry chain resource utilization project was signed on June 4, focusing on integrating advanced technologies to create a competitive nylon production base in Shanghai [1]. - The first phase of the nylon 66 integration project was completed with a total investment of 1.5 billion yuan, covering an area of 206 acres and centered around a 400,000 tons/year caprolactam production capacity [2]. Group 2: Technological Advancements - The project utilizes the most advanced domestic low-pressure caprolactam production technology and the internationally recognized nylon 66 polymerization technology, both of which have independent intellectual property rights [3]. - The second phase plans to invest 710 million yuan to focus on the resource utilization of by-products, aiming to reduce emissions and increase product value [4]. Group 3: Future Developments - The third phase will build on the products from the first and second phases to develop high-temperature nylon and engineering plastics, further expanding the production capabilities [4].