Core Viewpoint - Orinko Advanced Plastics Co., Ltd. emphasizes its commitment to Environmental, Social, and Corporate Governance (ESG) as a strategic framework for sustainable development, aiming to integrate ESG principles into its operations and corporate culture to enhance competitiveness and fulfill its responsibilities as a corporate citizen [1][2][3] ESG Strategy - The company aims to create innovative materials that drive green development and harmony with nature, establishing an ESG value system focused on environmental sustainability, social co-growth, and high-standard governance [5][6] - Short-term objectives include governance upgrades and enhancing transparency in ESG information disclosure, while medium and long-term goals target significant reductions in energy consumption and greenhouse gas emissions by 2028 and 2035 respectively [5][6] R&D Innovation - Orinko invests heavily in R&D to drive technological advancements in new materials, focusing on customer demands and market trends to develop innovative solutions that address industry challenges [10][11] - The company collaborates with universities and research institutions to enhance its R&D capabilities and has established a robust innovation incentive mechanism to encourage employee participation in innovation [10][11] Product Quality and Safety - The company is committed to developing high-quality, environmentally friendly products, including lightweight and low-carbon materials for various applications such as new energy vehicles and home appliances [12][13] - Orinko has achieved significant breakthroughs in material technology, including halogen-free flame-retardant materials and innovative lithium-ion battery separator materials, contributing to the green transition of the economy [12][13] Governance System - Orinko has established a comprehensive ESG governance structure, with the Board of Directors overseeing ESG strategies and objectives, supported by an ESG Leading Group responsible for implementing and monitoring ESG initiatives [6][8] - The company emphasizes transparency and compliance in its operations, ensuring that governance practices align with its long-term development objectives [6][8] Communication with Stakeholders - The company prioritizes effective communication with stakeholders, including shareholders, employees, customers, and the community, to address their concerns and expectations regarding ESG issues [9] - Orinko conducts regular surveys and feedback mechanisms to understand stakeholder needs and improve its ESG reporting and practices [9]

Orinko Advanced Plastics Co., Ltd. 2024 Environmental, Social and Corporate Governance (ESG) Report Contents 01 CONTENTS 01 Sustainable Development Management | ESG Strategy | 12 | | --- | --- | | ESG Governance | 15 | | Communication with Stakeholders | 16 | | Evaluation of Materiality Issues | 17 | 02 Making Innovations, Empowering Industrial Development | R&D Innovation | 20 | | --- | --- | | Green Products and Solutions | 24 | | Intellectual Property Protection | 26 | 03 Maintaining Steady Growth, Uphol ...

| 证券代码：688219 | 证券简称：会通股份 | 公告编号：2025-021 | | --- | --- | --- | | 转债代码：118028 | 转债简称：会通转债 | | 会通新材料股份有限公司 关于召开 2024 年度暨 2025 年第一季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： 会议召开时间：2025 年 5 月 28 日（星期三）16:00-17:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 投资者可于 2025 年 5 月 21 日（星期三）至 5 月 27 日（星期二）16:00 前 登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 investor@orinko.com.cn 进行提问。公司将在说明会上对投资者普遍关注的问题 进行回答。 会议召开方式：上证路演中心网络互动 独立董事：张大林先生 本次投资者说明会以网络互动形式召开， ...

会通新材料股份有限公司 | 证券代码：688219 | 证券简称：会通股份 | 公告编号：2025-020 | | --- | --- | --- | | 转债代码：118028 | 转债简称：会通转债 | | 关于召开2024年年度股东大会的通知 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要内容提示： 一、 召开会议的基本情况 召开日期时间：2025 年 6 月 3 日 14 点 30 分 召开地点：安徽省合肥市高新区柏堰科技园长宁大道与宁西路交口西北角办 公楼 5 楼会议室 （五） 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 6 月 3 日 至2025 年 6 月 3 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过互联 网投票平台的投票时间为股东大会召开当日的 9:15-15:00。 （六） 融资融券、转融通、 ...

一、 回购股份的基本情况 公司分别于 2024 年 10 月 29 日、2024 年 11 月 18 日召开第三届董事会第八次 会议、2024 年第三次临时股东大会，审议通过了《会通新材料股份有限公司关于 以集中竞价交易方式回购公司股份方案的议案》，同意公司以自有资金通过上海 证券交易所交易系统以集中竞价交易方式回购公司已发行的部分人民币普通股股 票，拟在未来用于实施股权激励/员工持股计划、减少注册资本或用于转换公司可 转债。公司拟用于本次回购的资金总额不低于人民币 5,000 万元（含），不超过人 民币 10,000 万元（含），回购价格为不超过人民币 10 元/股（含），回购期限为 自公司股东大会审议通过本次回购方案之日起 12 个月内。 具体内容详见公司于 2024 年 10 月 31 日和 2024 年 11 月 19 日在上海证券交 易所网站（www.sse.com.cn）披露的《会通新材料股份有限公司关于以集中竞价交 易方式回购股份方案的公告》（公告编号：2024-058）和《会通新材料股份有限公 司关于以集中竞价交易方式回购公司股份的回购报告书》（公告编号：2024-066）。 | 证券代码：6 ...

Investment Rating - The report maintains a recommendation for the chemical industry, indicating a positive outlook for the sector [6]. Core Viewpoints - The report highlights the significant price increases in active dyes (+10%) and PTA (+3.17%), suggesting potential investment opportunities in companies related to these products [4][20]. - It recommends focusing on companies like Huaitong Co., which is expected to benefit from the application of modified plastics in the robotics sector, and Runtong Co., which may gain from the rising prices of active dyes [5]. Industry Performance - In the first week of May, the chemical sector (Shenwan) experienced a decline of 0.50%, slightly underperforming the Shanghai A-share index, which fell by 0.49% [2][12]. - The dynamic PE ratio for the chemical sector stands at 24.05, which is lower than the average PE of 11.90 since 2015 [2][12]. Sub-industry Trends - Among the 15 sub-industries, five saw increases, with daily chemical products leading at +8.85%, while five sub-industries experienced declines, with synthetic leather dropping by -8.89% [3][15]. Price and Spread Trends - The report lists the top five products with the highest weekly price increases: active dyes (+10%), PTA (+3.17%), and butadiene (+2.86%) [4][20]. - The report also notes significant changes in price spreads, with the melamine spread increasing by +73.47% and the PTA spread by +39.52% [4][36]. Inventory Changes - Key products with notable inventory changes include potassium chloride (-17.88%) and epoxy propane (-8.96%), indicating shifts in supply dynamics [5][56].

Core Viewpoint - The company has applied for a patent for a low-emission recycled polypropylene composite material for automotive interiors, indicating a focus on sustainable materials in the automotive industry [1]. Company Overview - The company, Huitong New Materials Co., Ltd., was established in 2008 and is located in Hefei City, primarily engaged in the manufacturing of computers, communications, and other electronic devices [2]. - The registered capital of the company is approximately 4.59 billion RMB [2]. - The company has invested in 10 enterprises and participated in 66 bidding projects, showcasing its active involvement in the market [2]. - The company holds 41 trademark registrations and 409 patent registrations, indicating a strong emphasis on intellectual property [2]. - Additionally, the company possesses 7 administrative licenses, reflecting its compliance and operational capabilities [2]. Patent Details - The patent application, published as CN119912753A, was filed on September 2024 and pertains to a method for producing low-emission recycled polypropylene composite materials [1]. - The composite material consists of various components, including 10-88 parts of polypropylene, 5-40 parts of recycled polypropylene, and other additives, highlighting the technical complexity of the material [1]. - The manufacturing process involves milling recycled polypropylene into powder and treating it with hydrochloric acid to reduce volatile substances and odors, which enhances the material's quality for automotive applications [1].

中信证券股份有限公司 关于会通新材料股份有限公司 2024 年度持续督导跟踪报告 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为会通新 材料股份有限公司（以下简称"会通股份"或"公司"）向不特定对象发行可转 换公司债券的保荐人。根据《证券发行上市保荐业务管理办法》、《上海证券交 易所科创板股票上市规则》等相关规定，中信证券履行持续督导职责，并出具本 持续督导年度跟踪报告。 一、持续督导工作概述 1、保荐人制定了持续督导工作制度，制定了相应的工作计划，明确了现场 检查的工作要求。 2、保荐人已与公司签订保荐协议，该协议已明确了双方在持续督导期间的 权利义务，并报上海证券交易所备案。 3、本持续督导期间，保荐人通过与公司的日常沟通、现场回访等方式开展 持续督导工作，并于 2025 年 4 月 15 日对公司进行了现场检查。 4、本持续督导期间，保荐人根据相关法规和规范性文件的要求履行持续督 导职责，具体内容包括： （1）查阅公司章程、三会议事规则等公司治理制度、三会会议材料； （2）查阅公司财务管理、会计核算和内部审计等内部控制制度，查阅公司 2024 年度内部控制自我评价报告、2024 年度内部控 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% compared to the benchmark index [5]. Core Insights - The company has demonstrated stable growth in profitability, with a 13.81% year-on-year increase in revenue to 6.088 billion yuan and a 32.04% increase in net profit to 194 million yuan for the year 2024. The first quarter of 2025 also showed a 15.07% increase in revenue to 1.468 billion yuan and a 14.67% increase in net profit to 50 million yuan [2][5]. - The company's modified plastic business has seen a revenue increase of 15.39% to 5.936 billion yuan, accounting for 97.51% of total revenue, driven by increased sales volume [3]. - The company is focusing on high-value products such as long-chain nylon materials, PEEK, and PPS, with long-chain nylon revenue growing by 105.39% year-on-year, indicating a strategic shift towards emerging markets [4]. Financial Performance - The company’s revenue projections for 2025-2027 are 7.066 billion yuan, 8.335 billion yuan, and 10.081 billion yuan, respectively, with year-on-year growth rates of 16.08%, 17.95%, and 20.95% [5]. - The net profit forecasts for the same period are 250 million yuan, 318 million yuan, and 414 million yuan, with growth rates of 28.63%, 27.35%, and 30.13% [5]. - The company’s return on equity (ROE) is expected to improve from 10.69% in 2025 to 14.16% in 2027 [5]. Market Expansion - The company has successfully expanded into international markets, establishing a factory in Thailand and serving over 30 overseas clients, with overseas sales increasing by 178.39% year-on-year [3]. - The diversification into new fields such as consumer electronics and AI data servers is expected to create new growth opportunities [4].

Investment Rating - The report maintains a "Buy" rating for the company [5] Core Views - The company demonstrates stable operational performance with an increase in profitability, achieving a revenue of 6.088 billion yuan in 2024, a year-on-year growth of 13.81%, and a net profit of 194 million yuan, up 32.04% [2] - In Q1 2025, the company reported a revenue of 1.468 billion yuan, reflecting a 15.07% increase year-on-year, and a net profit of 50 million yuan, up 14.67% [2] - The company is actively expanding into emerging markets such as smart home, new energy vehicles, and consumer electronics, which has contributed to its revenue growth [2] Summary by Sections Revenue and Profitability - The company achieved a revenue of 59.36 billion yuan from modified plastics, a year-on-year increase of 15.39%, accounting for 97.51% of total revenue [3] - The sales volume of various plastic products increased significantly, with polyethylene series, polystyrene series, and engineering plastics showing year-on-year growth of 23.14%, 24.97%, and 12.58% respectively [3] - The company has successfully established a factory in Thailand, serving over 30 high-quality overseas clients, with overseas sales exceeding 17,000 tons, a year-on-year increase of 178.39% [3] Product Development and Market Expansion - The company focuses on high-value products such as long-chain nylon materials, PEEK, and PPS, with long-chain nylon revenue growing by 105.39% year-on-year [4] - The company is diversifying its applications beyond home appliances and automobiles into areas like consumer electronics, low-altitude economy, and AI data servers [4] - In the robotics sector, the company is proposing solutions to replace metals with high-strength carbon fiber reinforced polyamide materials and PEEK for key components [4] Financial Forecast - The company is expected to maintain steady growth, with projected revenues of 7.066 billion yuan, 8.335 billion yuan, and 10.081 billion yuan for 2025, 2026, and 2027 respectively, representing year-on-year growth rates of 16.08%, 17.95%, and 20.95% [5] - The net profit is forecasted to be 250 million yuan, 318 million yuan, and 414 million yuan for the same years, with growth rates of 28.63%, 27.35%, and 30.13% respectively [5] - Corresponding P/E ratios are projected to be 21.7, 17.0, and 13.1 for 2025, 2026, and 2027 [5]