浙江万丰化工股份有限公司 累积投票制度 第一章 总 则 第一条 为维护中小股东的利益，规范公司法人治理结构，规范公司选举董 事行为，根据《上海证券交易所股票上市规则》（以下简称《股票上市规则》）、 《上市公司治理准则》等法律法规和《浙江万丰化工股份有限公司章程》（以下 简称《公司章程》）的相关规定，并结合公司具体情况制定本细则。 第二条 股东会就选举董事进行表决时，根据《公司章程》的规定或者股东 会的决议，实行累积投票制。累积投票制是指股东会选举董事时，每一普通股（含 表决权恢复的优先股）股份拥有与应选董事人数相同的表决权，股东拥有的表决 权可以集中使用。 第三条 本制度所称的"董事"包括独立董事和非独立董事。由职工代表担 任的董事由公司职工民主选举产生或更换，不适用于本制度的相关规定。 第四条 公司通过累积投票制选举产生的董事，其任期不实施交错任期制， 即届中因缺额而补选的董事任期为本届余任期限，不跨届任职。 第二章 累积投票制的投票原则 第五条 股东会对二名或二名以上董事候选人进行表决时，每位股东拥有的 表决权等于其持有的股份数乘以应选举董事人数之积。 第六条 股东会对董事候选人进行表决时，股东可以集中行 ...

浙江万丰化工股份有限公司 向子公司外派董事、监事管理办法 第一章 总 则 第一条 为了进一步完善浙江万丰化工股份有限公司（以下简称"公司"） 法人治理结构，加强公司治理，规范公司对外投资行为，切实保障公司作为法人 股东的各项合法权益，依据《中华人民共和国公司法》（以下简称《公司法》）、 《上市公司治理准则》《上海证券交易所上市公司自律监管指引第1号——规范运 作》及《浙江万丰化工股份有限公司章程》（以下简称"《公司章程》"）的有 关规定，制订本管理办法（以下简称"办法"）。 第二条 本办法所指的"外派董事、监事"，是由公司董事会按本办法规定 的程序，向公司控股、参股子公司或者控股、参股的其它实体委派董事、监事。 外派董事、监事代表公司行使《公司法》《公司章程》、本办法赋予董事、监事 的各项职责和权力，必须勤勉尽责，维护公司利益。 第三条 公司各职能部门应按法律、法规以及公司管理文件的相关规定，将 其管理职能延伸至控股（参股）子公司和控股（参股）的其它实体。董事会各专 门委员会按其职责，检查监督公司外派董事、监事活动的规范性、合法性。公司 计划财务部负责收集整理对外投资企业须公开披露的财务信息，具体实施对外投 ...

浙江万丰化工股份有限公司 关联交易管理制度 第一章 总 则 第一条 为进一步加强浙江万丰化工股份有限公司（以下简称"公司"）关 联交易管理，明确管理职责和分工，维护公司股东和债权人的合法利益，特别是 中小投资者的合法权益，保证公司与关联人之间订立的关联交易合同符合公平、 公开、公允的原则，根据《中华人民共和国公司法》（以下简称《公司法》）、 《中华人民共和国证券法》、《上市公司治理准则》、《上海证券交易所股票上 市规则》（以下简称《股票上市规则》）、《上海证券交易所上市公司自律监管 指引第5号——交易与关联交易》等法律法规和《浙江万丰化工股份有限公司章 程》（以下简称《公司章程》）的相关规定，特制订本制度。 第二条 公司应当保证关联交易的合法性、必要性、合理性和公允性，保持 公司的独立性，不得利用关联交易调节财务指标，损害公司利益。交易各方不得 隐瞒关联关系或者采取其他手段，规避公司的关联交易审议程序和信息披露义务。 第二章 关联交易和关联人 第三条 公司的关联交易，是指公司或者其控股子公司与公司关联人之间发 生的转移资源或者义务的事项，包括但不限于下列交易： （一）购买或者出售资产； （二）对外投资（含委托 ...

Core Points - WanFeng Co., Ltd. reported a decrease in the number of shareholders to 8,043 as of September 20, down by 571 from the previous period, representing a decline of 6.63% [2] - The closing price of WanFeng shares was 17.15 yuan, reflecting an increase of 3.56%, although the stock has seen a cumulative decline of 1.49% since the concentration of shares began [2] - The latest margin trading data shows a total margin balance of 25.40 million yuan, with a financing balance of 25.40 million yuan, indicating a reduction of 1.96 million yuan, or 7.15%, during the current period of concentrated shareholding [2] - The company's semi-annual report indicated that it achieved operating revenue of 275 million yuan, a year-on-year increase of 17.33%, and a net profit of 25.14 million yuan, a year-on-year increase of 91.69%, with basic earnings per share of 0.1900 yuan and a weighted average return on equity of 2.38% [2]

Core Insights - Wan Feng Co., Ltd. experienced a 2.07% decline in stock price on September 23, with a trading volume of 45.84 million yuan [1] - The company reported a financing buy-in of 3.58 million yuan and a financing repayment of 4.84 million yuan on the same day, resulting in a net financing outflow of 1.26 million yuan [1] - As of September 23, the total margin balance for Wan Feng Co. was 25.40 million yuan, with a financing balance of 25.40 million yuan, accounting for 3.06% of the circulating market value, which is below the 20th percentile of the past year [1] Financial Performance - For the first half of 2025, Wan Feng Co. achieved operating revenue of 275 million yuan, representing a year-on-year growth of 17.33% [2] - The net profit attributable to the parent company for the same period was 25.14 million yuan, showing a significant year-on-year increase of 91.69% [2] - Cumulative cash dividends since the A-share listing amounted to 25.34 million yuan [2] Shareholder Structure - As of August 29, the number of shareholders for Wan Feng Co. was 8,549, a slight decrease of 0.16% from the previous period [2] - The average number of circulating shares per shareholder increased by 0.16% to 5,857 shares [2] - Notable new institutional shareholders include Huaxia CSI 500 Index Enhanced A, holding 1.12 million shares, and Nuoan Multi-Strategy Mixed A, holding 649,300 shares [2]

Group 1: Report Basic Information - Report research object: Wanfeng Co., Ltd. [16] - Research date: September 15, 2025 [16] - Company reception personnel: Chairman and General Manager Yu Xingying, Independent Director Zhang Chunmei, Financial Controller Xu Wenzhi, and Board Secretary Lu Fengqing [16] - Participants: All investors who participated in the online performance briefing of Wanfeng Co., Ltd. (603172) for the first half of 2025 [19] Group 2: Core Views - In the first half of 2025, the company achieved good results in international market expansion, with significant growth in foreign market sales due to product - customer fit and tariff policies. Cost - reduction and efficiency - enhancement measures also led to an increase in overall gross margin [23] - The company is building a human resources management mechanism and talent echelon to enhance core competitiveness [23] - The company established a joint R & D center with Zhejiang University Shaoxing Research Institute and launched a project to develop high - performance polyimide materials and graphene - reinforced polyimide materials [23] - The company will focus on the mid - high - end disperse dye segment, increase R & D investment, and implement a differentiated competition strategy [25] - The company will look for investment opportunities in the upstream and downstream of the industrial chain to find a second growth curve [26] Group 3: Other Information - The company's R & D expenses in the first half of 2025 increased by 29.49% compared to the same period last year, mainly due to an increase in cooperative R & D projects. In the first half of 2025, it added 1 invention patent and 2 utility model patents [25] - The company has established Vietnam Wanfeng Co., Ltd. in Vietnam for product sales and pre - and post - sales services, aiming to expand overseas markets. Future plans for overseas production bases will be disclosed as required [25] - The company will comprehensively consider various factors for investment decisions such as mergers and acquisitions and will disclose relevant information in a timely manner [23][26]

证券代码：603172 证券简称：万丰股份 公告编号：2025-027 浙江万丰化工股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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。 重要内容提示 会 议 问 题 征 集 ： 投 资 者 可 于 2025 年 09 月 15 日 前 访 问 网 址 https://eseb.cn/1rqD2p5STvy 或使用微信扫描下方小程序码进行会前提问，公司将 通过本次业绩说明会，在信息披露允许范围内就投资者普遍关注的问题进行回答。 一、说明会类型 浙江万丰化工股份有限公司（以下简称"公司"）已于 2025 年 8 月 30 日在 上海证券交易所网站（www.sse.com.cn）披露了《2025 年半年度报告》及《2025 年半年度报告摘要》。为便于广大投资者更加全面深入地了解公司经营业绩、发 展战略等情况，公司定于 2025 年 09 月 15 日（星期一）14:00-15:30 在"价值在 线"（www.ir-online.cn）举办浙江万丰化工股份有限公司 2025 年半 ...

Group 1 - The core viewpoint of the articles highlights the strong performance of WanFeng Co., Ltd. in the first half of 2025, with significant revenue and profit growth driven by strategic market adjustments and product optimization [1][2] - In the first half of 2025, the company achieved an operating income of 275 million yuan, representing a year-on-year increase of 17.33%, and a net profit attributable to shareholders of 25 million yuan, up 91.69% year-on-year [1] - The company has effectively leveraged the global supply chain adjustments in the textile and apparel industry, expanding its customer base in Southeast Asia and emerging economies, while optimizing its export regional structure [1] Group 2 - WanFeng Co., Ltd. specializes in the research, production, and sales of disperse dyes, focusing on mid-to-high-end products primarily used for dyeing and printing polyester and blended fabrics [1] - The company has established a joint research center with Zhejiang University Shaoxing Research Institute, marking a significant step into the high-end and disruptive new materials sector, aiming to overcome critical technological challenges [2] - The establishment of the joint research center is seen as a milestone for deep integration of industry, academia, and research, indicating the company's commitment to future growth in advanced materials [2]

Core Viewpoint - Wan Feng Co., Ltd. (603172) has experienced a decline in stock price, with a current market value of 2.145 billion yuan, ranking 160th in the chemical products sector and 4979th in the A-share market [1] Shareholder Changes - As of August 20, 2025, the number of shareholders for Wan Feng Co., Ltd. increased to 8,563, reflecting a growth of 2.65% compared to August 8, 2025. The average number of shares held per shareholder decreased from 16,000 to 15,600 shares, with an average holding value of 271,700 yuan [2] Performance Disclosure Highlights - The mid-year report for 2025 indicates that Wan Feng Co., Ltd. achieved a main revenue of 275 million yuan, representing a year-on-year growth of 17.32%. The net profit attributable to shareholders reached 25.1447 million yuan, up 91.69%, while the net profit excluding non-recurring items was 24.4034 million yuan, also up 91.72%. The second quarter alone saw a net profit of 14.7812 million yuan, marking a 102.66% increase year-on-year. The company's gross margin stands at 26.9%, with a debt ratio of 26.7%, and net cash flow from operating activities increased by 166.10% to 41.5532 million yuan [3] Company Announcement Summary - Wan Feng Co., Ltd. has not declared any profit distribution or capital reserve transfer for the first half of 2025. As of the reporting period, total assets amounted to 1.468 billion yuan, with net assets of 1.074 billion yuan. The weighted average return on net assets is 2.38%, and basic earnings per share are 0.19 yuan. The top ten shareholders include Shaoxing Yufeng Enterprise Management Co., Ltd. with a 43.71% stake and Yu Xingying with an 11.25% stake, both acting in concert with Shaoxing Tianyang Investment. The company reported sales revenue of 243 million yuan from disperse dyes and 30.3765 million yuan from filter cakes, with average prices for disperse dyes and filter cakes declining by 0.31% and 3.12% respectively. The price of key raw material hydrobromic acid increased by 25.08%. The balance of the fundraising account is 16.4 million yuan, with some fundraising projects delayed, including the "Annual Production of 10,000 Tons of Disperse Dye Technological Upgrade Project" postponed to December 2025 and the "Research and Development Center Construction Project" postponed to December 2026. Both the board of directors and the supervisory board have approved the semi-annual report and related proposals [4]

Group 1 - The core viewpoint of the articles highlights the strong financial performance of Wanfu Co., Ltd. in its 2025 interim report, with significant increases in revenue and net profit [1][2] - For the reporting period, the company achieved total revenue of 275 million yuan, a year-on-year increase of 17.32%, and a net profit attributable to shareholders of 25.14 million yuan, up 91.69% year-on-year [1] - In the second quarter, total revenue reached 153 million yuan, reflecting a year-on-year growth of 13.21%, while net profit for the quarter was 14.78 million yuan, marking a 102.66% increase year-on-year [1] Group 2 - The company's gross margin improved by 26.12% year-on-year, reaching 26.9%, while the net margin increased by 59.44% to 9.28% [1] - Total selling, administrative, and financial expenses amounted to 31.96 million yuan, accounting for 11.61% of revenue, which is a 13.44% increase year-on-year [1] - The earnings per share (EPS) rose to 0.19 yuan, a 90.0% increase year-on-year, and the operating cash flow per share increased significantly by 166.1% to 0.31 yuan [1] Group 3 - The company's return on invested capital (ROIC) was reported at 2.74%, indicating a weak capital return, with a historical median ROIC of 12.87% since its listing [2] - The company's cash assets are described as very healthy, but there is a need to monitor capital expenditure projects closely to ensure they are worthwhile [2] - Concerns were raised regarding the company's cash flow situation, with the average operating cash flow over the past three years being only 18.57% of current liabilities, and accounts receivable reaching 416.19% of profit [2]