国泰海通证券股份有限公司 关于辽宁鼎际得石化股份有限公司 持续督导专项现场检查报告 上海证券交易所: 经中国证券监督管理委员会《关于核准辽宁鼎际得石化股份有限公司首次 公开发行股票的批复》(证监许可(2022)1431 号)核准,辽宁鼎际得石化股份 有限公司(以下简称"鼎际得"、"上市公司"、"公司")首次公开发行股票 3,336.6667 万股,每股面值人民币 1元,每股发行价格人民币 21.88元,募集资 金总额为人民币 73,006.27 万元,扣除发行费用后,实际募集资金净额为人民币 65.690.27 万元。本次发行证券已于 2022年 8 月 18 日在上海证券交易所上市。 国泰海通证券股份有限公司(以下简称"国泰海通证券"、"保荐机构")担任其 持续督导保荐机构,持续督导期间为 2022年8月18日至 2024年12月 31日。 根据《证券发行上市保荐业务管理办法》《上海证券交易所股票上市规则》 《上海证券交易所上市公司自律监管指引第 11 号 -- 持续督导》《上海证券交易 所上市公司自律监管指引第1号 -- 规范运作》等有关法律法规要求,于2025 年 4 月对鼎际得实际控制人非经营性占用上 ...

Core Viewpoint - The report summarizes the sponsorship and underwriting process for the initial public offering (IPO) of Liaoning Dingjide Petrochemical Co., Ltd, detailing the issuance of 33.36667 million shares at a price of RMB 21.88 per share, raising a total of RMB 730.0627 million, with a net amount of RMB 656.9027 million after deducting issuance costs [1][2][3]. Group 1: Sponsorship and Issuance Details - The IPO was approved by the China Securities Regulatory Commission (CSRC) and listed on the Shanghai Stock Exchange on August 18, 2022 [1][2]. - The registered capital of Liaoning Dingjide Petrochemical Co., Ltd is RMB 134.511667 million, with a legal representative named Wu Chunye [2][3]. - The company’s actual controller is Zhang Zaiming, and the securities code is 603255 [2]. Group 2: Sponsorship Responsibilities - During the due diligence phase, the sponsoring institution coordinated with various intermediaries, conducted thorough investigations, and prepared necessary documentation for the IPO [3][4]. - In the ongoing supervision phase, the sponsor focused on preventing resource misappropriation by major shareholders and ensuring compliance with corporate governance standards [3][4]. Group 3: Major Events and Issues - A change in the designated sponsor representative occurred in February 2023, with Zhang Yuheng replacing Ding Shangjie due to a job change [4][5]. - The company faced issues related to non-operating fund occupation by related parties in 2024, which were not promptly reported to the sponsor [5][6]. - The sponsor conducted a special inspection regarding fund occupation and provided training to the company's management to enhance internal control [5][6]. Group 4: Fund Usage and Compliance - The sponsor reviewed the usage of raised funds, confirming compliance with CSRC and stock exchange regulations, with all funds being used appropriately [6]. - The report indicates that the company has completed the use of all funds raised from the IPO as of the report date [6].

国泰海通证券股份有限公司 关于辽宁鼎际得石化股份有限公司 首次公开发行股票并上市之保荐总结报告书 | 保荐机构名称： | 国泰海通证券股份有限公司 | | --- | --- | | 保荐机构编号： | Z29131000 | 经中国证券监督管理委员会《关于核准辽宁鼎际得石化股份有限公司首次公开 发行股票的批复》（证监许可（2022）1431 号）批复，辽宁鼎际得石化股份有限公 司（以下简称"上市公司"、"公司"或"发行人"）首次公开发行股票 3,336.6667 万股，每股面值人民币 1 元，每股发行价格人民币 21.88 元，募集资金总额为人民 币 73,006.27 万元，扣除发行费用后，实际募集资金净额为人民币 65,690.27 万元。 本次发行证券已于 2022 年 8 月 18 日在上海证券交易所主板上市。原海通证券股份 有限公司担任其持续督导保荐机构，持续督导期间为 2022 年 8 月 18 日至 2024 年 12 月 31 日。鉴于原国泰君安证券股份有限公司换股吸收合并原海通证券股份有限 公司事项已获得中国证券监督管理委员会核准批复，本次合并交易已于 2025 年 3 月 14 日完成交 ...

国泰海通证券股份有限公司 关于辽宁鼎际得石化股份有限公司 2024 年度持续督导现场检查报告 上海证券交易所： 国泰海通证券股份有限公司（以下简称"国泰海通"、"保荐人"）作为辽宁 鼎际得石化股份有限公司（以下简称"鼎际得"或"公司"）首次公开发行股票 并在上交所主板上市的保荐人，根据《中华人民共和国公司法》《中华人民共和 国证券法》《证券发行上市保荐业务管理办法》《上海证券交易所股票上市规则》 （以下简称"《上市规则》"）和《上海证券交易所上市公司自律监管指引第 11 号 ——持续督导》等有关法律法规的规定，对公司 2024 年度（以下简称"本持续 督导期间"）的规范运作情况进行了现场检查，现就现场检查的有关情况报告如 下： 一、本次现场检查的基本情况 （一）保荐人 2025 年 4 月 9 日至 2025 年 4 月 11 日及 2025 年 4 月 24 日至 2025 年 4 月 30 日 （四）现场检查人员 张裕恒、伊帅、蔡金羽 （五）现场检查内容 现场检查人员对本持续督导期内发行人公司治理及内部控制、信息披露、独 立性、与关联方的资金往来、募集资金使用情况、关联交易、对外担保、重大对 1 国泰海通 ...

Investment Rating - The report maintains a "Positive" investment rating for the petrochemical industry [9] Core Insights - The petrochemical industry is experiencing a downturn in revenue and net profit due to pressures from real estate and infrastructure, as well as global trade tensions, but the industry is nearing historical lows in terms of profitability [2][6] - There is a notable divergence in profitability among sub-industries, with downstream processing, coal chemical, and gas chemical sectors showing positive growth, indicating structural investment opportunities [2][6] - Key investment opportunities are identified in high-quality growth, growth potential, and high dividend yield sectors [2][7] Summary by Sections Industry Performance Overview - The petrochemical sector's revenue and net profit are projected to decline in 2024 and Q1 2025, with overall revenue for 2024 estimated at approximately 8,210.4 billion yuan, a decrease of 3.02% year-on-year, and net profit at about 395.0 billion yuan, down 0.54% [21][22] - For Q1 2025, revenue is expected to be around 200.5 billion yuan, reflecting a 6.14% decline, with net profit decreasing by 4.43% [21][22] Sub-Industry Analysis - The performance of various sub-sectors in 2024 shows mixed results: - Petrochemical (-0.54%) - Oil and gas services and equipment (-7.61%) - Energy extraction (4.87%) - Oil and gas storage and sales (-35.41%) - Traditional refining (-19.10%) - Private refining (-38.09%) - Coal and gas chemicals (19.21%) - Downstream processing (117.14%) [6][22] - In Q1 2025, the performance continues to vary: - Petrochemical (-4.43%) - Oil and gas services and equipment (18.13%) - Energy extraction (-2.48%) - Oil and gas storage and sales (-2.43%) - Traditional refining (-28.31%) - Private refining (-9.55%) - Coal and gas chemicals (65.79%) - Downstream processing (55.26%) [6][22] Investment Focus - The report emphasizes three main investment themes: 1. Gradual recovery in the industry, favoring quality leading companies with rising volumes and prices [7] 2. Opportunities in high-end materials and technology import substitution, particularly in POE and ethylene technology [7] 3. Stable cash flow and high dividend yields, particularly in central and state-owned enterprises, which may see a revaluation [7][8] Recommended Stocks - Key stocks to focus on include: - High-quality growth: Satellite Chemical, Baofeng Energy, Zhongman Petroleum, New Natural Gas, and Guanghui Energy - High-end material import substitution: AkzoNobel and Dingjide - Beneficiaries of coal chemical investments in regions like Xinjiang and Shanxi: Aerospace Engineering - Recovery plays: Huajin Co., Hengli Petrochemical, Rongsheng Petrochemical, Dongfang Shenghong, and Hengyi Petrochemical - High dividend stocks: CNOOC, PetroChina, and Sinopec [8]

Core Viewpoint - The company, Liaoning Dingjide Petrochemical Co., Ltd., is preparing for its 2024 annual shareholders' meeting, focusing on various proposals including the remuneration plans for directors and supervisors, changes in registered capital, and the company's operational performance in 2024 [2][6][20]. Meeting Arrangements - The shareholders' meeting will be held on May 21, 2025, with both on-site and online voting options available [6]. - Attendees must register and present necessary identification documents to participate in the voting process [3][5]. Financial Performance - In 2024, the company reported total operating revenue of RMB 780.75 million, a year-on-year increase of 3.20% [8][20]. - The operating cost was RMB 671.99 million, reflecting a 12.89% increase compared to the previous year [8]. - The net profit attributable to shareholders was a loss of RMB 12.13 million, a significant decline of 119.77% year-on-year [8][20]. Board and Supervisory Committee Activities - The board of directors held multiple meetings throughout 2024, addressing various operational and financial matters, including the approval of stock option plans and financial reports [11][12]. - The supervisory committee conducted regular meetings to oversee the company's compliance with legal and regulatory requirements, ensuring the protection of shareholder interests [14][15]. Governance and Compliance - The company emphasizes adherence to corporate governance standards, with independent directors actively participating in decision-making processes to enhance operational transparency [12][19]. - The supervisory committee reported no violations of laws or regulations by the company's management during the reporting period [15][19]. Future Plans - The company aims to improve its internal governance and operational efficiency in 2025, focusing on sustainable development and enhancing profitability [13][19]. - Plans include continued investment in high-end new materials to strengthen competitive advantages in the market [13].

辽宁鼎际得石化股份有限公司 2024 年年度股东大会 会议资料 2025 年 5 月 二、出席会议的股东及股东代理人须在会议召开前半小时到会议现场办理签 到手续，并按规定出示证券账户卡、身份证明文件或营业执照/注册证书复印件（加 盖公章）、授权委托书等，上述登记材料均需提供复印件一份，个人登记材料复 印件须个人签字，法定代表人证明文件复印件须加盖公司公章，经验证后方可出 席会议。会议开始后，由会议主持人宣布现场出席会议的股东人数及其所持有表 决权的股份总数，在此之后进场的股东无权参与现场投票表决。 三、会议按照会议通知上所列顺序审议、表决议案。 四、股东及股东代理人依法享有发言权、质询权、表决权等权利。股东及股 东代理人参加股东大会应认真履行其法定义务，不得侵犯公司和其他股东及股东 代理人的合法权益，不得扰乱股东大会的正常秩序。 五、要求发言的股东及股东代理人，应当按照会议的议程，经会议主持人许 可方可发言。有多名股东及股东代理人同时要求发言时，先举手者发言；不能确 定先后时，由主持人指定发言者。股东及股东代理人发言或提问应围绕本次股东 大会的议题进行，简明扼要，时间不超过 5 分钟。 六、股东及股东代理人要 ...

国泰海通证券股份有限公司 关于辽宁鼎际得石化股份有限公司 2024 年度持续督导年度报告书 | 保荐机构名称：国泰海通证券股份有限公司 | 被保荐公司简称：鼎际得 | | --- | --- | | 保荐代表人姓名：张裕恒、陈邦羽 | 被保荐公司代码：603255.SH | 经中国证券监督管理委员会《关于核准辽宁鼎际得石化股份有限公司首次公 开发行股票的批复》（证监许可（2022）1431 号）核准，辽宁鼎际得石化股份有 限公司（以下简称"上市公司"、"公司"或"发行人"）首次公开发行股票， 每股面值人民币 1 元，每股发行价格人民币 21.88 元，募集资金总额为人民币 73,006.27 万元，扣除发行费用后，实际募集资金净额为人民币 65,690.27 万元。 本次发行证券已于 2022 年 8 月 18 日在上海证券交易所上市。国泰海通证券股份 有限公司（以下简称"保荐机构"或"国泰海通证券"）担任其持续督导保荐机 构，持续督导期间为 2022 年 8 月 18 日至 2024 年 12 月 31 日。 在 2024 年持续督导期内（以下简称"本持续督导期间"），保荐机构及保 荐代表人按照《证券发行上 ...

Investment Rating - The report does not explicitly state an investment rating for the chemical industry, but it provides detailed insights into market performance and trends, indicating a cautious outlook for certain segments [2][11]. Core Insights - In April 2025, the basic chemical index decreased by 3.61%, ranking 20th among primary industries, with various sub-sectors experiencing different levels of performance [11][16]. - The apparent consumption of methanol in China has surpassed 100 million tons for the first time, indicating significant growth in demand [2]. - The report highlights a notable increase in the prices of key chemical products, particularly trichloroethylene, which rose by 16.28% due to supply constraints and strong demand in the refrigerant market [24][25]. Market Overview - Major indices in April 2025 showed declines: Shanghai Composite Index -1.70%, Shenzhen Component Index -5.75%, and ChiNext Index -7.40% [11]. - Among the basic chemical sub-sectors, the rubber and products segment saw a significant decline of 13.52%, while daily chemicals and inorganic salts experienced growth of 8.56% and 4.37%, respectively [16][20]. Product Price Movements - The top ten products with price increases included trichloroethylene (16.28%), ammonium sulfate (12.20%), and H acid (10.96%) [24][30]. - Conversely, the products with the largest price declines included TMA (-28.26%), bromine (-24.14%), and vitamin A (-18.07%) [30][32]. Company Performance - In April 2025, 221 basic chemical companies reported positive returns, while 319 companies experienced negative returns [20]. - The top-performing companies included United Chemical with a 159.09% increase and Hongbaoli with a 104.27% increase in stock price [21][22]. Industry Trends - The report notes that the chemical raw materials and products manufacturing industry achieved a total profit of 78.76 billion yuan in the first quarter, reflecting a slight decline of 0.4% year-on-year [34]. - Shandong province is focusing on enhancing its chemical industry advantages, with significant growth in the number of large-scale chemical enterprises and revenue generation [34].

Investment Rating - The report does not explicitly state an investment rating for the chemical industry Core Insights - In April 2025, the basic chemical index decreased by 3.61%, ranking 20th among primary industries, with 12 sub-industries showing growth and 20 experiencing declines [11][16][20] - The apparent consumption of methanol in China has surpassed 100 million tons for the first time [1] Market Overview - Major indices in April 2025 showed the following changes: Shanghai Composite Index -1.70%, Shenzhen Component Index -5.75%, ChiNext Index -7.40%, and North Securities 50 Index +4.72% [11] - The basic chemical sector's performance was mixed, with significant declines in rubber and related products, while daily chemical products and inorganic salts showed positive growth [16][20] Product Price Movements - The top ten products with price increases in April 2025 included Trichloroethylene (+16.28%), Ammonium Sulfate (+12.20%), and H Acid (+10.96%) [24][25] - Trichloroethylene prices rose significantly due to reduced production and strong demand in the refrigerant market [25][26] Sub-Industry Performance - Among the basic chemical sub-industries, the top five performers were daily chemicals (+8.56%), inorganic salts (+4.37%), and fluorochemicals (+3.46%), while polyurethane and tires saw the largest declines of -17.59% and -14.68%, respectively [16][19] - In April 2025, 221 companies in the basic chemical sector reported positive returns, while 319 reported negative returns [20] Company Performance - The top ten companies by monthly growth included United Chemical (+159.09%), Hongbaoli (+104.27%), and Zhongxin Fluorine Materials (+65.92%) [21][22] - Conversely, the bottom ten companies included Hunan YN (-22.18%), Dingjide (-22.54%), and Hengxing New Materials (-23.21%) [23][24] Industry News - In the first quarter of 2025, the chemical raw materials and products manufacturing industry achieved a total profit of 78.76 billion yuan, a slight decrease of 0.4% year-on-year [32] - Shandong province continues to enhance its chemical industry advantages, with 3,682 large-scale chemical enterprises and a revenue of 2.86 trillion yuan by the end of 2024 [32]