7月29日晚，滨化股份(601678)公告，目前正在筹划境外发行股份（H股）并在香港联交所上市事项。同 时，公司正在与相关中介机构就本次H股上市的具体推进工作进行商讨，目前相关细节尚未确定。 2025年第一季度，滨化股份实现营业收入37.82亿元，同比增长94.14%；实现归母净利润0.96亿元，同 比增长225.75%。 值得关注的是，近年来，氯碱行业逐步从传统制造业向高端化、智能化方向发展。滨化股份也欲打造中 国北方高端电子化学品基地、"新能源+化工"零碳示范园区、绿色低碳循环经济产业园、化工新材料产 业基地，推动产业数字化。 据公开报道，2025年6月29日，公司氯醇法环氧丙烷钙法皂化工艺顺利通过中国氯碱工业协会组织的专 家验收，成为国内首家通过论证的氯醇法环氧丙烷生产企业。这一突破性技术获得认证，不仅标志着滨 化股份实现了关键技术升级。 业内人士认为，此次赴港IPO是滨化股份推进全球化战略的重要一步，有助于加快海外业务发展，提升 公司的国际品牌形象及综合竞争实力。 截至7月29日收盘，滨化股份最新股价4.48元/股，总市值92.15亿元。 （文章来源：证券时报网） 资料显示，滨化股份于2010年2月在 ...

Group 1: Share Buybacks and Acquisitions - WuXi AppTec plans to adjust the maximum repurchase price of its shares to no more than 114.15 yuan per share from the previous limit of 90.72 yuan per share, while other details of the repurchase plan remain unchanged [2] - ST Haihua's subsidiary intends to acquire 100% equity of Lvxin Dingsheng for 43 million yuan, citing the favorable development prospects of the natural gas industry [3] - Shenneng Power plans to repurchase shares for 300 million to 400 million yuan, with a maximum repurchase price of 38 yuan per share [4] - Huaneng Technology intends to acquire 6% of Jinghe Integrated's shares for 23.93 million yuan, with a transfer price of 19.88 yuan per share [7] Group 2: Financial Performance - Shijia Photon reported a net profit of 217 million yuan for the first half of 2025, a year-on-year increase of 1712%, with revenue of 993 million yuan, up 121.12% [5] - Enhua Pharmaceutical achieved a net profit of 700 million yuan in the first half of 2025, a year-on-year increase of 11.38%, with revenue of 3.01 billion yuan, up 8.93% [13] - Guangzhi Technology reported a net profit of 23.99 million yuan for the first half of 2025, marking a turnaround from losses, with revenue of 1.02 billion yuan, up 78.2% [10] Group 3: Market Activities and Listings - Binhua Co. is planning to issue H-shares and list on the Hong Kong Stock Exchange, currently discussing specific details with relevant intermediaries [8] - Tubaobao's subsidiary, Dehua Tubaobao Investment Management, holds a 2.05% stake in Hanhai Group, which is set to be listed on the Shenzhen Stock Exchange [12] - Changchun Gaoxin's subsidiary has received FDA approval for a hypertension drug, expanding its market presence in the U.S. [13]

Group 1 - The State-owned Assets Supervision and Administration Commission announced the establishment of China Chang'an Automobile Group Co., Ltd., which will be managed by the State Council [2] - The Hong Kong Monetary Authority released documents regarding the regulatory framework for stablecoin issuers, effective from August 1, 2025 [3] - The Ministry of Finance reported that from January to June 2025, state-owned enterprises had total operating revenue of 4,074.96 billion yuan, a year-on-year decrease of 0.2% [3] Group 2 - Zhejiang Province's Science and Technology Department proposed measures to enhance financial support for innovation, aiming for 80% of new listed companies in the technology sector by 2027 [4] - Companies such as Chang'an Automobile and Dong'an Power have undergone changes in their indirect controlling shareholders to China Chang'an Automobile [6] - Shijia Photon reported a net profit of 217 million yuan for the first half of the year, a year-on-year increase of 1712% [6]

每经AI快讯，滨化股份(601678)7月29日晚间公告，公司目前正在筹划境外发行股份（H股）并在香港联 合交易所有限公司（简称"香港联交所"）上市事项。公司正在与相关中介机构就本次H股上市的具体推 进工作进行商讨，相关细节尚未确定。本次H股上市不会导致公司无控股股东和实际控制人的情况发生 变化。 （文章来源：每日经济新闻） ...

滨化股份（601678）(601678.SH)公告，公司目前正在筹划境外发行股份(H股)并在中国香港联交所上市 事项。公司正在与相关中介机构就本次H股上市的具体推进工作进行商讨，相关细节尚未确定。 ...

智通财经APP讯，滨化股份(601678.SH)公告，公司目前正在筹划境外发行股份(H股)并在中国香港联交 所上市事项。公司正在与相关中介机构就本次H股上市的具体推进工作进行商讨，相关细节尚未确定。 ...

证券代码：601678 股票简称：滨化股份 公告编号：2025-049 特此公告。 滨化集团股份有限公司董事会 2025 年 7 月 30 日 1 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。 为深入推进滨化集团股份有限公司（以下简称"公司"）的全球化战略布局， 加快海外业务发展，提升公司的国际品牌形象及综合竞争实力，公司目前正在筹 划境外发行股份（H 股）并在香港联合交易所有限公司（以下简称"香港联交所"） 上市事项（以下简称"本次 H 股上市"）。公司正在与相关中介机构就本次 H 股上 市的具体推进工作进行商讨，相关细节尚未确定。本次 H 股上市不会导致公司无 控股股东和实际控制人的情况发生变化。 根据《上海证券交易所股票上市规则》《境内企业境外发行证券和上市管理 试行办法》等法律法规的要求，待具体方案确定后，本次 H 股上市工作尚需提交 公司董事会和股东会审议，并经中国证券监督管理委员会备案和香港联交所等监 管机构审核。本次 H 股上市能否通过审议、备案和审核程序并最终实施具有较大 不确定性。公司将依据相关法律法规的规 ...

Core Viewpoint - The company, Binhua Co., Ltd. (601678), is planning to issue H-shares and list on the Hong Kong Stock Exchange, which will not change the current controlling shareholder or actual controller situation [1] Group 1 - The H-share listing is subject to approval from the company's board and shareholders, as well as regulatory review by the China Securities Regulatory Commission and the Hong Kong Stock Exchange [1] - The company will fulfill its information disclosure obligations based on the progress of the H-share listing [1]

Industry Overview - The trichloroethylene (TCE) industry in China has formed a complete industrial chain system, with a production of 103,800 tons from January to May 2025, a year-on-year decrease of 2.52%, and a consumption of 87,900 tons, down 8.92% year-on-year [1][6] - As of the end of May 2025, the inventory of TCE in China was 1,200 tons, an increase of 14.29% year-on-year, indicating a proactive contraction in supply under the "production based on sales" approach [1][6] - The decline in demand is attributed to the downturn in the domestic manufacturing sector, which has reduced cleaning needs in the metal processing industry, and stricter environmental policies in the pesticide sector, leading to a gradual decrease in reliance on TCE [1][6] Industry Chain - The upstream of the TCE industry includes raw materials such as acetylene, chlorine, and catalysts, as well as production equipment like drying equipment, chlorination towers, and distillation towers [4] - The midstream involves the production and manufacturing of TCE, while the downstream applications include metal degreasing/cleaning, pharmaceutical intermediates, pesticide/dye solvents, and coatings [4] Key Enterprises - The industry is characterized by a competitive landscape dominated by leading companies, with a high market concentration and increasing technical barriers. Jilin Chemical and Hangjin Technology are the two major players, with Jilin Chemical's production capacity expected to reach 150,000 tons/year by 2025 [12][13] - Hangjin Technology focuses on the high-end market, with the proportion of electronic-grade products expected to increase to 18% by 2025, benefiting from a higher profit margin compared to industrial-grade products [12][13] - Binhua Group, another key player, has a production capacity of 80,000 tons/year and has achieved a 100% quality compliance rate for its TCE products [16] Industry Trends - Market demand remains stable, particularly in the metal processing and electronic cleaning sectors, driven by the upgrading and precision development of manufacturing [18] - Environmental regulations are pushing for the development of safer and more eco-friendly alternatives to TCE, such as hydrofluoroethers (HFEs) and d-limonene [19][20] - The industry is expected to see increased concentration, with larger companies leveraging their technological, financial, and brand advantages to capture a larger market share [21]

Core Viewpoint - The liquid caustic soda (liquid alkali) industry in China is experiencing stable growth driven by government support, technological innovation, and changes in competition and environmental policies, with a projected production increase in the coming years [1][6][20]. Industry Definition and Classification - Liquid caustic soda, chemically known as sodium hydroxide solution (NaOH), is a colorless and transparent liquid produced by dissolving solid caustic soda in water. It can be categorized into different concentrations, primarily 32% and 50% [2][3]. Current Industry Status - The liquid caustic soda industry is a significant high-energy-consuming sector. Post-COVID-19, global demand for liquid caustic soda is increasing, with a projected global production of 7,662.6 million tons in 2024, up by 236.8 million tons from 2023 [6][8]. Production and Demand Forecast - In China, the liquid caustic soda production is expected to reach 3,415.85 million tons in 2024, an increase of 68.94 million tons from 2023, with demand projected at 3,348.85 million tons [8][10]. Market Size and Pricing - The market size for liquid caustic soda in China is estimated at 75.329 billion yuan in 2024, a decrease of 13.181 billion yuan from 2023, with an average price of 2,249.4 yuan per ton [10][20]. Industry Chain - The liquid caustic soda industry chain includes upstream raw materials such as salt (NaCl) and limestone, midstream production primarily through electrolysis, and downstream applications across various sectors including chemical, textile, and food industries [12]. Competitive Landscape - The liquid caustic soda industry is capital-intensive, with major players including Tangshan Sanyou Chemical, Binhai Chemical Group, Zhejiang Juhua, and Jiangsu Meilan Chemical. The industry is seeing increased concentration due to government reforms and environmental policies [14][16]. Key Enterprises - Major companies in the liquid caustic soda sector include: - Binhai Chemical Group, with a production capacity of 610,000 tons and a revenue of 2 billion yuan in 2024 [16]. - Ningxia Yinglite Chemical, producing 211,000 tons of caustic soda in 2024, with a revenue of 394 million yuan [18]. Development Trends - The liquid caustic soda industry is expected to maintain stable growth, influenced by chlorine-alkali balance, renewable energy demand, and environmental policies, indicating a promising future [20].