股东名称 张忠正 股东身份 控股股东、实控人及一致行动人 □是 √否 直接持股 5%以上股东 √是 □否 董事、监事和高级管理人员 □是 √否 其他：无 持股数量 119,729,600股 持股比例 5.82% 当前持股股份来源 IPO 前取得：119,729,600股 一、减持主体的基本情况 上述减持主体无一致行动人。 1 证券代码：601678 证券简称：滨化股份 公告编号：2025-051 滨化集团股份有限公司 股东减持股份计划公告 本公司董事会、全体董事及相关股东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： 大股东持股的基本情况：截至本公告披露日，股东张忠正持有滨化集团股份 有限公司（以下简称"公司"）股票 119,729,600 股，占公司总股本的 5.82%。 减持计划的主要内容：因自身资金需求，张忠正计划自本公告披露之日起 15 个交易日后的 3 个月内（2025 年 8 月 29 日至 2025 年 11 月 28 日），通过集 中竞价方式减持公司股份不超过 16,887,800 股，占公司总股本的 0.8211% ...

人民财讯8月6日电，滨化股份（601678）8月6日晚间公告，持股5.82%的股东张忠正计划15个交易日后 的3个月内，通过集中竞价方式减持公司股份不超过1688.78万股，占公司总股本的0.8211%。 ...

滨化股份公告称，股东张忠正因自身资金需求，计划自本公告披露之日起15个交易日后的3个月内，通 过集中竞价方式减持公司股份不超过16887800股，占公司总股本的0.8211%。减持价格将根据市场价格 确定。减持计划的实施存在不确定性风险。 ...

Core Viewpoint - The trend of A+H share listings is gaining momentum among A-share companies, including the chemical industry, with Binhua Co. planning to issue shares overseas and list on the Hong Kong Stock Exchange to enhance its global strategy and competitiveness [1][2]. Group 1: Company Overview - Binhua Co. is a leading domestic chlor-alkali chemical enterprise, primarily producing caustic soda and propylene oxide (PO) [3]. - The company has an annual caustic soda production capacity of 610,000 tons, ranking first in the domestic market for granular and food-grade caustic soda, and a propylene oxide production capacity of 510,000 tons, also leading in the domestic sector [3]. Group 2: Financial Performance - In the fiscal year 2024, Binhua Co. achieved total revenue of 10.228 billion yuan, a year-on-year increase of 40%, but the net profit attributable to shareholders was only 219 million yuan, a decline of 42.77% [4]. - The company's gross margin decreased by nearly 10% [4]. Group 3: Cash Flow and Financing - The net cash flow from operating activities for Binhua Co. in 2024 was 486 million yuan, a decrease of 445 million yuan from the previous year, while the net cash flow from investing activities was -1.762 billion yuan [5]. - The financing cost has risen significantly, with financial expenses amounting to 287 million yuan, an increase of 102.33% year-on-year, primarily due to increased interest expenses from new borrowings [5][6]. Group 4: Market Context and Strategy - The global chemical industry is currently facing profitability challenges due to economic downturns, prompting companies like Binhua Co. to seek capital infusion through the Hong Kong IPO as a substitute for previous unsuccessful fundraising efforts [2][8]. - The company is focusing on cost control and capacity upgrades to adapt to the cyclical nature of the chemical industry, aiming to enhance its competitive edge through innovative production processes and by entering new markets such as lithium hexafluorophosphate for new energy batteries [8][9].

Core Viewpoint - Shandong chemical leader Binhua Co., Ltd. plans to issue H-shares and list on the Hong Kong Stock Exchange, marking a strategic move to establish an "A+H" dual capital platform and enhance its global presence and competitiveness [1][5]. Industry Transformation - The global chemical industry is undergoing significant changes, with supply-demand mismatches, trade tensions, and geopolitical risks putting pressure on profits. However, long-term trends such as "green transformation," "domestic substitution," and "high-end industrialization" are creating strategic opportunities for structural shifts [1]. - The expansion of the new energy industry chain under the "dual carbon" strategy is generating new market opportunities within the chemical sector, making Binhua's timing for the Hong Kong listing particularly strategic [1]. Growth Drivers - Binhua Co., Ltd. reported strong growth in its Q1 2025 financial results, achieving revenue of 3.782 billion yuan, a significant year-on-year increase of 94.14%, primarily due to the production ramp-up of its carbon three and four projects. The net profit attributable to shareholders reached 95.9991 million yuan, reflecting a year-on-year growth of 225.75% [1]. - The company's net cash flow from operating activities surged by 8924.95% to 984 million yuan, indicating a marked improvement in cash flow management [1]. Technological Advancements - Continuous technological breakthroughs are laying the foundation for sustainable development. Binhua's newly developed processes for producing epoxy chloropropane and innovations in water resource utilization and energy-saving technologies have been recognized by industry associations [2]. - The successful production of qualified 6N-grade electronic-grade chlorine and the performance testing of a new alkaline water electrolysis hydrogen production system highlight the company's commitment to advancing in high-tech sectors [2]. Capital Strategy - The upcoming Hong Kong listing is expected to leverage international capital to accelerate Binhua's high-end and green industry layout, particularly in high-end chemical new materials and electronic chemicals [3]. Strategic Planning - Binhua has proposed the "Beikun Plan," which aims to establish a new green energy center in the northern coastal region of Binzhou, integrating renewable energy projects with biomass technology [4]. - The plan includes the development of six core industrial clusters, focusing on high-end new materials, deep processing of light hydrocarbons, electronic chemicals, and more, to promote cluster development in the Binzhou chemical industry [4]. - A strategic technology innovation system will guide industrial development, incorporating various initiatives to foster high-tech projects and support the creation of a zero-carbon industrial park [4].

Group 1 - The company, Binhu Chemical (601678), announced a share buyback of 1,900,000 shares, which represents 0.092% of its total share capital [1]

Summary of Key Points Core Viewpoint - The company, Binhu Chemical (601678.SH), has conducted a share buyback program, purchasing a total of 22,492,200 shares, which represents 1.094% of its total share capital, in line with its established buyback plan [1]. Group 1: Buyback Details - As of July 31, 2025, the company has repurchased 1,900,000 shares through centralized bidding, accounting for 0.092% of the total share capital, with a maximum purchase price of 4.43 CNY per share and a minimum price of 4.20 CNY per share, totaling 8,274,442.00 CNY [1]. - The cumulative buyback includes shares purchased at a maximum price of 4.43 CNY per share and a minimum price of 3.19 CNY per share, with a total expenditure of 88,731,557.00 CNY [1].

Group 1 - The company, Binhua Co., Ltd. (SH 601678), announced on July 31 that it has repurchased approximately 22.49 million shares through centralized bidding, accounting for 1.094% of its total share capital [2] - The highest purchase price for the repurchased shares was 4.43 CNY per share, while the lowest was 3.19 CNY per share, with a total expenditure of approximately 88.73 million CNY [2] - For the fiscal year 2024, the company's revenue composition is as follows: 81.9% from chemical operations and 18.1% from other businesses [2]

重要内容提示： | 回购方案首次披露日 | 2024/9/21 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2024 年 9 月 20 9 | 日~2025 | 年 | 月 | 19 | 日 | | 预计回购金额 | 7,500万元~15,000万元 | | | | | | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 | | | | | | | | □用于转换公司可转债 | | | | | | | | □为维护公司价值及股东权益 | | | | | | | 累计已回购股数 | 22,492,200股 | | | | | | | 累计已回购股数占总股本比例 | 1.094% | | | | | | | 累计已回购金额 | 88,731,557.00元 | | | | | | | 实际回购价格区间 | 3.19元/股~4.43元/股 | | | | | | 证券代码：601678 证券简称：滨化股份 公告编号：2025-050 滨化集团股份有限公司 关于回购公司股份的进展公告 本公司董事会及全体董事保 ...

Core Viewpoint - The company, Binhu Chemical (601678.SH), has conducted a share buyback program, purchasing a total of 22,492,200 shares, which represents 1.094% of its total share capital, in line with its established buyback plan [1] Summary by Relevant Sections - **Share Buyback Details** - As of July 31, 2025, the company has repurchased 1,900,000 shares through centralized bidding, with a maximum purchase price of 4.43 CNY per share and a minimum price of 4.20 CNY per share, totaling 8,274,442.00 CNY [1] - The cumulative share buyback includes 22,492,200 shares, with a maximum price of 4.43 CNY per share and a minimum price of 3.19 CNY per share, amounting to a total expenditure of 88,731,557.00 CNY [1]