| 证券代码：603867 | 证券简称：新化股份 公告编号：2025-026 | | --- | --- | | 转债代码：113663 | 转债简称：新化转债 | 浙江新化化工股份有限公司 第六届董事会第十七次会议决议公告 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 一、董事会会议召开情况 浙江新化化工股份有限公司（以下简称"公司"）第六届董事会第十七次会 议（以下简称"本次会议"）于 2025 年 5 月 20 日以现场结合通讯会议方式召开。 本次会议应参会董事 9 名，实际参会董事 8 名，职工董事方军伟先生因公务未能 出席本次会议，会议由董事长应思斌先生主持，本次会议的召开符合《中华人民 共和国公司法》和《公司章程》的规定。 二、董事会会议审议情况 1、审议通过《关于聘任公司副总经理的议案》 具体内容详见公司同日在上海证券交易所网站（http://www.sse.com.cn） 披露的相关公告。 表决结果：同意 8 票，反对 0 票，弃权 0 票。 经公司总经理提名，董事会提名委员会审核通过，董事会聘任赵建标先生为 公司副总经理，任期与本届董事会任期一致。 具体内容详见公司同 ...

新化股份公告，公司于2025年5月20日召开第六届董事会第十七次会议，审议通过了《关于聘任公司副 总经理的议案》，同意聘任赵建标先生为公司副总经理，自董事会审议通过之日起生效，任期同公司第 六届董事会任期一致。赵建标先生，1969年10月出生，曾任新安江化肥厂、新化有限车间维修工、设备 科科员、异丙胺分厂副厂长、厂长、市场营销部经理、新化股份监事，江苏新化总经理、新化股份董 事、副总经理。现任江苏新化董事长，江苏馨瑞董事长，公司监事。截至本公告披露日，赵建标先生直 接持有公司174.34万股股票。 ...

| 股票简称：新化股份 | 股票代码：603867 | 公告编号：2025-022 | | --- | --- | --- | | 转债简称：新化转债 | 转债代码：113663 | | 浙江新化化工股份有限公司 关于2024年年度报告的更正公告 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个别及连带责任。 浙江新化化工股份有限公司于2025年4月29日在上海证券交易所网站（www.ss e.com.cn）披露了2024年年度报告，因工作人员疏忽，漏写了前十名转债持有人 情况，现更正如下： 除上述更正外，报告无其他修改。更正内容后的公司《2024 年年度报告》将 与本公告同日重新发布于上海证券交易所网站（www.sse.com.cn）进行披露。公 司对因上述更正给投资者及报告使用人造成的不便深表歉意。今后公司将进一步 强化信息披露编制及审核工作，提高信息披露质量，并欢迎广大投资者持续监督。 特此公告。 浙江新化化工股份有限公司董事会 2025年5月15日 原公告"第九节 债券相关情况-二、可转换公司债券情况-（二）报告期转债 持有人及 ...

Financial Performance - The company achieved operating revenue of CNY 2,965,728,632.94 in 2024, a 14.22% increase compared to 2023[23]. - Net profit attributable to shareholders decreased by 10.18% to CNY 226,913,902.54 in 2024[23]. - The company reported a net profit of CNY 220,842,591.08 after deducting non-recurring gains and losses, down 8.06% from the previous year[23]. - The total assets increased by 9.51% to CNY 4,348,257,272.55 at the end of 2024 compared to the end of 2023[23]. - The company’s cash flow from operating activities was CNY 311,275,444.21, reflecting a 10.61% increase from the previous year[23]. - The company’s net assets attributable to shareholders increased by 5.55% to CNY 2,327,380,949.06 at the end of 2024 compared to the end of 2023[23]. - The operating cost increased by 17.93% to CNY 2,350,008.40 million, primarily due to increased sales of fatty amines and synthetic fragrance products[54]. - The company's R&D expenses rose by 14.84% to CNY 104,471.98 million, reflecting ongoing investment in new technologies and product development[54]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 0.45 per share (including tax), totaling approximately CNY 85.67 million based on a total share capital of 190,379,389 shares after accounting for repurchased shares[6]. - The total cash dividend amount for the latest fiscal year is RMB 85,670,725.05, which represents 37.75% of the net profit attributable to ordinary shareholders[165]. - The cumulative cash dividend amount over the last three fiscal years is RMB 270,183,544.45, with a cash dividend ratio of 100.17% based on the average annual net profit[167]. - For the 2023 fiscal year, the proposed cash dividend is RMB 4.5 per 10 shares, subject to approval at the 2023 annual general meeting and expected to be implemented on June 18, 2024[163]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm, ensuring the authenticity and completeness of the financial report[5]. - The company has established a comprehensive internal control system to ensure compliance and risk management, with no significant deficiencies reported during the period[169]. - The internal control audit for 2024 was conducted by Tianjian Accounting Firm, resulting in a standard unqualified opinion[170]. - The company has not reported any significant differences in governance practices compared to regulations set by the China Securities Regulatory Commission[131]. Research and Development - The company applied for 18 national patents in 2024, including 7 invention patents and 11 utility model patents[32]. - The company has established a provincial-level high-tech research and development center and a provincial key laboratory, enhancing its R&D capabilities[96]. - The company employs 173 R&D personnel, making up 14.15% of the total workforce, with 10 holding doctoral degrees[69]. - The company plans to increase its research and development investment to support innovation in product offerings and sustainability initiatives[82]. Environmental Compliance - The company reported a continuous emission of CODCr at 246 mg/L, ammonia nitrogen at 7.74 mg/L, total nitrogen at 20.45 mg/L, and total phosphorus at 0.23 mg/L, which are above the standards set by GB8978-1996[175]. - The company is currently not compliant with the emission standards for sulfur dioxide, nitrogen oxides, and volatile organic compounds[176]. - The company is focusing on improving its emission control technologies to meet environmental regulations[175]. - The company has plans for further investment in pollution control measures to enhance compliance with national standards[175]. Governance and Management - The company has established a governance structure that includes a general meeting of shareholders, a board of directors, a supervisory board, and a management team, ensuring clear responsibilities and coordination among these entities[131]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 7.5159 million yuan[143]. - The company has not engaged in any business activities that would compromise its independence from its controlling shareholders[131]. - The company is committed to continuous improvement of its governance practices in line with legal and regulatory requirements[131]. Market Position and Strategy - The company holds the largest domestic production capacity for isopropylamine and has been recognized as a champion product by the Ministry of Industry and Information Technology[45]. - The company benefits from significant cost advantages due to large-scale production and favorable procurement agreements for raw materials like acetone, enhancing its market competitiveness[46]. - The company is committed to becoming a leading global supplier of specialty chemicals through continuous technological innovation[114]. - The overall market outlook for the fine chemical industry remains positive, driven by demand for high-quality and environmentally friendly products[82].

Investment Rating - The investment rating for the company is "Buy" (maintained) [5] Core Views - The company's performance in 2024 was under pressure due to declining profitability in the organic solvent segment, but there is optimism for future growth in the fragrance and lithium resource businesses [3][4] - The company achieved a revenue of 2.966 billion yuan in 2024, a year-on-year increase of 14.22%, while the net profit attributable to shareholders was 227 million yuan, a decrease of 10.18% [2][3] - The company has established a strong position in the synthetic fragrance market and is expanding its production capacity in both Ningxia and Jiangsu, which is expected to enhance its competitive edge [4][5] Financial Summary - In 2024, the company reported a revenue of 29.66 billion yuan, with a net profit of 2.27 billion yuan, and a return on equity of 10.19% [2][3] - For Q1 2025, the company achieved a revenue of 7.65 billion yuan, a year-on-year increase of 2.81%, and a net profit of 0.72 billion yuan, a decrease of 5.98% [2][3] - The projected net profits for 2025, 2026, and 2027 are 3.07 billion yuan, 3.75 billion yuan, and 4.52 billion yuan respectively, with corresponding EPS of 1.59, 1.94, and 2.35 yuan [10][12]

Core Viewpoint - The company is preparing for its 2024 financial settlement report and 2025 budget proposal, focusing on maintaining investor rights and ensuring compliance with relevant regulations [1][2][3]. Group 1: Financial Performance - In 2024, the company reported a net profit attributable to shareholders of 226.91 million yuan, a decrease of 10.18% compared to the previous year [10][19]. - The total revenue for 2024 was 2.965 billion yuan, reflecting a growth of 14.22% from 2023 [19]. - The company's total assets increased by 9.51% to 434.83 billion yuan, while total liabilities rose by 11.86% to 175.47 billion yuan [19]. Group 2: Governance and Compliance - The board of directors consists of 9 members, including 3 independent directors, who have diligently fulfilled their responsibilities to protect shareholder interests [4][9]. - The supervisory board held 5 meetings in 2024, ensuring compliance with laws and regulations while overseeing the board's performance [11][12]. - Independent directors actively participated in governance, ensuring the decision-making process remains independent and objective [9]. Group 3: Future Plans and Proposals - The company plans to apply for a comprehensive credit limit of up to 3.741 billion yuan for 2025 to support its operational and developmental needs [22][23]. - A proposal for a cash dividend of 0.45 yuan per share has been made, amounting to approximately 85.67 million yuan, which represents 37.75% of the net profit for the year [16][18]. - The 2025 budget aims for steady growth in revenue and net profit, with specific targets set based on market conditions and operational capabilities [22].

浙江新化化工股份有限公司 浙江新化化工股份有限公司 2024 年年度股东大会 会议资料 浙江 建德 二〇二五年五月 浙江新化化工股份有限公司 | 目录 | | --- | | 2024 年年度股东大会会议须知 2 | | | --- | --- | | 2024 年年度股东大会会议议程 3 | | | 议案一： 年度董事会工作报告 4 | 2024 | | 议案二： 年度监事会工作报告 8 | 2024 | | 议案三： 年度独立董事履职情况报告 11 | 2024 | | 议案四： 年度利润分配预案 12 | 2024 | | 议案五： 年年度报告及其摘要 13 2024 | 公司 | | 议案六： 年度财务决算报告及 年度财务预算方案的议案.14 2024 2025 | 关于 | | 议案七：关于公司 年度合并报表范围内申请综合授信额度及提供相应担 2025 | | | 保预计的议案 19 | | | 议案八：关于为合并报表范围内子公司提供借款的议案 20 | | | 议案九：关于董事、高级管理人员 2025 年度薪酬方案的议案 21 | | | 议案十：关于 2024 年度日常关联交易情况及 2025 ...

Investment Rating - The investment rating for the company is maintained at "Buy" [4] Core Views - The company reported a significant increase in quarterly performance, with synthetic flavor contributions being notable [1] - The company's main products experienced a decline in average selling prices, but synthetic flavor sales saw substantial growth [7] - The company is actively advancing key project constructions and promoting lithium extraction technology [7] - Profit forecasts have been adjusted due to the weak market conditions for main products, with expected net profits for 2025-2027 being 275 million, 326 million, and 375 million respectively [7] Financial Performance - In 2024, the company achieved a revenue of 2.966 billion, a year-on-year increase of 14.22%, while net profit decreased by 10.18% to 227 million [1][8] - For Q1 2025, the company reported a revenue of 765 million, a year-on-year increase of 2.81%, but a quarter-on-quarter decrease of 1.54% [1] - The company’s gross margin for Q1 2025 was 21.9%, showing a year-on-year decrease of 0.4 percentage points but an increase of 1.7 percentage points from the previous quarter [7] Revenue and Profit Forecasts - Revenue forecasts for 2025-2027 are projected at 3.343 billion, 3.775 billion, and 4.188 billion respectively, with year-on-year growth rates of 13% for each year [3][15] - The expected earnings per share (EPS) for 2025-2027 are 1.43, 1.69, and 1.94 respectively [8][15] Key Financial Ratios - The company’s return on equity (ROE) is projected to improve from 8.9% in the latest period to 12.9% by 2027 [4][15] - The asset-liability ratio is expected to decrease from 36.8% to 36.3% over the same period [4][15]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Insights - The company's performance is in line with expectations, with stable demand for fatty amines and sales, while the decline in isopropanol prices has negatively impacted profitability [1][8] - The company reported a total revenue of approximately 2.966 billion yuan in 2024, representing a year-on-year growth of 14.2%, but a decline in net profit by 10.2% to 227 million yuan [8][9] - The fatty amine segment is expected to see revenue growth driven by increased demand, while the organic solvent segment is facing challenges due to falling prices [8] Financial Data and Profit Forecast - Total revenue projections for the company are as follows: 3.210 billion yuan in 2025, 3.820 billion yuan in 2026, and 4.277 billion yuan in 2027, with respective year-on-year growth rates of 8.2%, 19.0%, and 12.0% [7] - The forecasted net profit for 2025 is 295 million yuan, with a growth rate of 30.0% compared to the previous year [7] - The company's gross margin is projected to be around 21.1% in 2025, with a return on equity (ROE) of 11.9% [7] Segment Performance - The fatty amine segment is expected to generate approximately 1.453 billion yuan in revenue in 2024, with a year-on-year growth of 17.9% [8] - The organic solvent segment is projected to see a revenue decline to 434 million yuan in 2024, down 11% year-on-year [8] - The fragrance segment is anticipated to achieve a revenue of 790 million yuan in 2024, reflecting a significant year-on-year increase of 52.2% [8] Future Outlook - The company is expected to benefit from new capacity in the Ningxia fragrance segment and ongoing investments in electronic materials [8] - The profitability forecast has been adjusted downward due to the decline in isopropanol margins and slower absorption of new fragrance capacity [8] - The estimated net profits for 2025, 2026, and 2027 are projected to be approximately 295 million yuan, 351 million yuan, and 409 million yuan, respectively [8]

Group 1 - The company reported a revenue of 2,965.73 million yuan for the reporting period, representing a year-on-year increase of 14.22% [23] - The net profit attributable to shareholders of the parent company was 226.91 million yuan, a decrease of 10.18% compared to the same period last year [23] - The net profit after deducting non-recurring gains and losses was 220.84 million yuan, down 8.06% year-on-year [23] Group 2 - The company plans to distribute a cash dividend of 0.45 yuan per share (including tax), with a total distribution amount of approximately 85.67 million yuan based on the adjusted total share capital [10][95] - The total share capital as of April 25, 2025, was 192,773,989 shares, with 2,394,600 shares held in the company's repurchase account [10][95] - The cash dividend and repurchase amount combined accounted for 64.20% of the net profit attributable to shareholders of the listed company for the year [95] Group 3 - The company primarily engages in the production and operation of fatty amines, organic solvents, synthetic fragrances, and other fine chemical products, which are widely used in agriculture, pharmaceuticals, inks, new energy, and coatings [12] - The market demand for fatty amines is relatively stable, but competition is increasing due to continuous capacity expansion, leading to pressure on profit margins [17] - The organic solvent market, particularly for isopropanol, has seen a compound annual growth rate of 5.95% from 2019 to 2023, with production reaching 440,600 tons in 2023, a year-on-year increase of 7.40% [18][19]