Investment Rating - The report provides a standard investment rating for the basic chemical industry, indicating a cautious outlook due to recent market fluctuations and supply chain disruptions [1]. Core Insights - Japan's Mitsui Chemicals is exiting the NF3 business, which may enhance China's competitiveness in electronic specialty gases, with potential market share expansion [4][10]. - The chlorantraniliprole incident has caused supply disruptions, potentially boosting the market for pesticides and intermediates, with a shift towards high-efficiency, low-toxicity products [4][12]. - The report suggests focusing on key sub-sectors such as integrated refining and petrochemical chains, refrigerant industry leaders, and domestic alternative materials [4][14]. Summary by Sections 1. Industry News and Event Commentary - Mitsui Chemicals' exit from the NF3 business is attributed to rising competition and costs, indicating that Chinese manufacturers may fill the gap and increase exports [10][11]. - The chlorantraniliprole incident is expected to accelerate market consolidation, benefiting companies with technological advantages and regulatory compliance [12][13]. 2. Chemical Sector Weekly Performance - For the week of May 26 to May 30, the Shanghai Composite Index fell by 1.08%, while the Shenwan Petroleum and Petrochemical Index rose by 0.40%, outperforming the market by 1.48 percentage points [15][18]. - The basic chemical index decreased by 0.66%, ranking 23rd among all Shenwan primary industries [15][18]. 3. Key Product Price and Spread Performance - Notable price increases included potassium chloride (up 5.66%) and paraxylene (up 4.94%), while hydrochloric acid saw a significant drop of 28.00% [27][28]. - The price spread for carbon black increased by 31.13%, indicating a tightening supply situation [29][30].

Market Performance - The photoresist concept sector declined by 1.60%, ranking among the top declines in the concept sector as of the market close on May 28 [1] - Within the sector, stocks such as Guofeng New Materials, Xilong Science, and Kent Catalysts experienced significant declines, while 16 stocks saw price increases, with Ruile New Materials, Tongcheng New Materials, and Aolaide leading the gains at 5.08%, 2.99%, and 2.74% respectively [1] Capital Flow - The photoresist concept sector experienced a net outflow of 1.135 billion yuan, with 51 stocks seeing net outflows, and 7 stocks having outflows exceeding 50 million yuan [2] - The stock with the highest net outflow was Kaimete Gas, with a net outflow of 274 million yuan, followed by Hongbaoli, Feikai Materials, and Guofeng New Materials with net outflows of 198 million yuan, 115 million yuan, and 79.89 million yuan respectively [2] Top Gainers and Losers - The top gainers in the photoresist concept stocks included Tongcheng New Materials, Ruile New Materials, and Qicai Chemical, with net inflows of 37.81 million yuan, 36.54 million yuan, and 30.98 million yuan respectively [2][4] - The stocks with the largest declines included Kaimete Gas at -3.90%, Hongbaoli at -5.13%, and Feikai Materials at -4.16% [3][4]

| 股票代码：603650 | 股票简称：彤程新材 | 编号：2025-041 | | --- | --- | --- | | 债券代码：113621 | 债券简称：彤程转债 | | 彤程新材料集团股份有限公司 对外投资进展公告 二、本次对外投资进展情况 近日，彤程新材料集团股份有限公司（以下简称"公司"）全资子公司上海彤程 电子材料有限公司（以下简称"彤程电子"）与安徽同华高新技术中心（有限合伙）、 四川润资集团有限公司、遂昌县科技创新创业投资基金合伙企业（有限合伙）分 别签订股权转让协议，收购其分别持有的北京科华微电子材料有限公司（以下简 称"科华微电子"、"标的企业"）5.0006%、1.9999%及 1.4694%股权。本次交易完 成后，彤程电子从直接持有科华微电子 87.8597%股权，变更为直接持有科华微电 子 96.3295%股权。具体内容如下： 一、对科华微电子前期投资情况概述 2021 年 2 月 24 日，公司召开第二届董事会第十九次会议，审议通过《关于公 司对外投资的议案》，公司全资子公司彤程电子受让科华微电子 6.72%的股权，并 与科华微电子少数股东 Meng Technology ...

Core Viewpoint - The company announced an adjustment to the conversion price of its convertible bonds due to a cash dividend distribution, lowering the conversion price from 31.61 CNY to 31.11 CNY per share, effective June 3, 2025 [1][3]. Group 1: Announcement Details - The company’s securities will be suspended and resumed trading due to the implementation of the rights distribution [1]. - The initial conversion price of the convertible bonds was set at 32.96 CNY per share, with subsequent adjustments made in response to annual dividend distributions [1][2]. - The latest adjustment was made following the approval of a cash dividend of 5.0 CNY per 10 shares, which was resolved at the 2024 annual shareholders' meeting [1][2]. Group 2: Conversion Price Adjustment Formula - The adjustment of the conversion price is in accordance with the provisions outlined in the bond issuance prospectus, which protects the rights of convertible bondholders [2]. - The formula for adjusting the conversion price due to cash dividends is P1 = P0 - D, where P0 is the previous conversion price and D is the cash dividend per share [3]. - The adjusted conversion price was calculated as follows: P1 = 31.61 - 0.4975 = 31.11 CNY per share [3].

Core Viewpoint - The company announced its annual profit distribution plan for 2024, which includes a cash dividend of 0.50 RMB per share for A-shares, with specific dates for registration and distribution outlined [1][2]. Distribution Plan - The cash dividend distribution is set at 5.0 RMB for every 10 shares held, amounting to a total cash dividend of approximately 297.99 million RMB, based on 595,970,013 shares eligible for distribution after excluding shares in the repurchase account [2][3]. - The distribution plan was approved during the annual shareholders' meeting held on May 8, 2025 [1]. Relevant Dates - Key dates for the distribution are as follows: - Record date: May 30, 2025 - Ex-dividend date: June 3, 2025 - Cash dividend payment date: June 3, 2025 [1][3]. Implementation Details - Shares held in the company's repurchase account will not participate in the profit distribution [3][4]. - Cash dividends will be distributed through the China Securities Depository and Clearing Corporation Limited, with specific arrangements for shareholders who have not completed designated transactions [3][4]. Taxation Information - For individual shareholders, the cash dividend is subject to personal income tax based on holding periods, with rates varying from 0% to 20% [4][5]. - For qualified foreign institutional investors (QFII), a 10% withholding tax will apply, resulting in a net cash dividend of 0.45 RMB per share [5]. - Other resident enterprises are responsible for their own tax payments, with a gross cash dividend of 0.50 RMB per share [6]. Adjustment of Convertible Bond Terms - Following the profit distribution, the conversion price of the company's convertible bonds will be adjusted from 31.61 RMB to 31.11 RMB per share, effective on the ex-dividend date [6].

关于因利润分配调整可转债转股价格的公告 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： 证券停复牌情况：适用 因实施权益分派,本公司的相关证券停复牌情况如下： | 证券代码 | 证券简称 | 停复牌类型 | 停牌起始日 | 停牌 期间 | 停牌终止日 | 复牌日 | | --- | --- | --- | --- | --- | --- | --- | | 113621 | 彤程转债 | 可转债转股复 | | | 2025/5/30 | 2025/6/3 | | | | 牌 | | | | | | 证券代码：603650 | 证券简称：彤程新材 | 公告编号：2025-040 | | --- | --- | --- | | 债券代码：113621 | 债券简称：彤程转债 | | 彤程新材料集团股份有限公司 派送股票股利或转增股本：P1=P0/（1+n）； 增发新股或配股：P1=（P0+A×k）/（1+k）； 上述两项同时进行：P1=（P0+A×k）/（1+n+k）； 经中国证券监督管理委员会《关于核准彤程新材料 ...

上海市锦天城律师事务所 关于彤程新材料集团股份有限公司 差异化分红事项的 法律意见书 致:彤程新材料集团股份有限公司 上海市锦天城律师事务所(以下简称"锦天城"或"本所")作为彤程新材 料集团股份有限公司(以下简称"公司")的常年法律顾问,接受公司的委托, 就公司 2024 年度利润分配所涉及的差异化分红(以下简称"本次差异化分红") 相关事项进行了核查并出具本法律意见书。 锦 天 城 律 师事 务 所 ALLBRIGHT LAW OFFICES 地址：上海市浦东新区银城中路 501 号上海中心 11、12 层 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于彤程新材料集团股份有限公司 差异化分红事项的法律意见书 法律意见书 瞒、虚假和重大遗漏之处,文件材料为副本或复印件的,其与原件一致和相符。 3、本所同意将本法律意见书作为公司本次差异化分红及向上海证券交易所 报送使用,非经本所书面同意,不得用作任何其他目的。 为出具本法律意见书,本所律师审阅了公司提供的本次差异化分红的相关文 件,就有关事项向公司进行了必要 ...

| 证券代码：603650 | 证券简称：彤程新材 | 公告编号：2025-039 | | --- | --- | --- | | 债券代码：113621 | 债券简称：彤程转债 | | 彤程新材料集团股份有限公司2024年年度权益分派实施公告 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： 每股分配比例 A 股每股现金红利0.50元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/5/30 | － | 2025/6/3 | 2025/6/3 | 差异化分红送转： 是 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经彤程新材料集团股份有限公司2025 年 5 月 8 日的2024年年度股东大会审 议通过。 二、 分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东，但存 ...

Group 1 - The company will implement a profit distribution plan, distributing a cash dividend of 5.0 yuan per 10 shares to all shareholders, with no bonus shares or capital reserve conversion [2][3] - The distribution plan was approved at the 2024 annual general meeting on May 8, 2025, and will be based on the total share capital as of the record date, excluding shares in the company's repurchase account [2][3] - The convertible bonds will stop conversion from May 26, 2025, until the record date for the profit distribution, and will resume conversion on the first trading day after the record date [4] Group 2 - The company will announce the implementation details of the profit distribution and the adjustment of the convertible bond conversion price on May 27, 2025 [4] - Holders of the convertible bonds wishing to enjoy the profit distribution must convert their bonds by May 23, 2025 [4] - The company has provided contact information for inquiries regarding the announcement [4]

重要内容提示： | 证券代码：603650 | 证券简称：彤程新材 | 公告编号：2025-038 | | --- | --- | --- | | 债券代码：113621 | 债券简称：彤程转债 | | 彤程新材料集团股份有限公司 关于实施 2024 年年度权益分派时"彤程转债"停止转 股暨转股价格调整的提示性公告 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。 （一）公司将于 2025 年 5 月 27 日在指定媒体披露有关本次权益分派的实施 公告和可转债转股价格调整公告。 （二）自 2025 年 5 月 26 日至本次权益分派股权登记日期间，"彤程转债"将 停止转股，本次权益分派股权登记日后的第一个交易日起，"彤程转债"将恢复转股， 欲享受权益分派的"彤程转债"持有人可在 2025 年 5 月 23 日（含 2025 年 5 月 23 日）之前进行转股。 三、其他 证券停复牌情况：适用 因实施权益分派, 权益分派实施公告前一交易日（2025 年 5 月 26 日）至权益分派 股权登记日间，彤程新材料集团股份有限公司（以下简 ...