Group 1 - The stock of Zhongchumai (688267.SH) closed at 28.92 yuan, experiencing a decline of 10.02%, indicating it is currently in a broken state [1] - Zhongchumai was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on February 16, 2022, with an initial offering price of 41.90 yuan per share [1] - The total amount raised by Zhongchumai during its IPO was 1.846 billion yuan, with a net amount of 1.691 billion yuan after deducting issuance costs, which was 907 million yuan more than the original plan [1] Group 2 - The company planned to raise 784 million yuan for projects related to "environmental new materials and intermediates" and "industrialization of special molecular sieves, environmental catalysts, and automotive exhaust purification catalysts" [1] - The total issuance costs for Zhongchumai's public offering amounted to 155 million yuan, with the lead underwriter, Shenwan Hongyuan Securities, receiving 132 million yuan in underwriting fees [1] - Shenwan Innovation Investment, a subsidiary of the underwriter's parent company, participated in the strategic placement of the IPO, acquiring approximately 3.25% of the public offering, which equates to 1.43198 million shares, with an investment amount of approximately 59.999962 million yuan [2]

Core Viewpoint - The company is actively exploring mergers and acquisitions with high-quality enterprises closely related to its upstream and downstream businesses to enhance synergy and support the comprehensive layout of the new materials industry [2] Group 1: Business Strategy - The company aims to leverage mergers and acquisitions to effectively utilize synergy effects within the new materials industry [2] - The company plans to advance capital operations at an appropriate time and will fulfill information disclosure obligations promptly [2] Group 2: Research and Development - The company will continue to invest in research and development to improve product quality and reduce production costs [2] - Specific operational data and business progress will be disclosed in future periodic reports or relevant announcements [2]

Group 1 - Meibang Technology focuses on the research and production of epoxy propane and downstream polyether polyols, benefiting from a clean production process and stable capacity, which enhances business profitability when epoxy propane prices rise [1][29] - Hongqiang Co., Ltd. produces concrete additives that utilize epoxy propane-derived polyether polyols, allowing for cost transfer to customers when prices rise, while also benefiting from the green building certification and infrastructure investment cycles [2][30] - Weiyuan Co., Ltd. has a large capacity for epoxy propane and integrates its production with other chemicals, which helps mitigate raw material price fluctuations and enhances profitability [3][31] Group 2 - Hongbaoli is a leading supplier of polyurethane insulation materials, with its core product being rigid polyether polyols, directly linked to epoxy propane prices, allowing for price adjustments through long-term agreements [4][32] - Yinuowei relies heavily on epoxy propane for its polyurethane products, maintaining stable relationships with downstream customers and benefiting from the rapid expansion of the new energy sector [5][33] - Yida Co., Ltd. has developed its own epoxy propane production technology and offers a range of solvents, benefiting from the green development policies and enhancing cost control through efficient procurement [6][34] Group 3 - Bohai Chemical leverages its location in the Beijing-Tianjin-Hebei petrochemical cluster to enhance its epoxy propane production, benefiting from regional supply advantages and low-carbon transformation initiatives [7][35] - China Chemical, as a state-owned enterprise, benefits from the rising demand for engineering services related to epoxy propane production, supported by its global project experience and technological capabilities [8][36] - Weixing Chemical has a complete C3 industrial chain layout, with significant cost advantages in epoxy propane production, and is actively expanding into new energy materials [9][36] Group 4 - Huaitai Co. integrates its chemical production with green paper-making concepts, enhancing profitability through the rising prices of epoxy propane while maintaining a focus on sustainable practices [10][38] - Kent Catalysts specializes in catalysts for epoxy propane production, benefiting from the industry's growth and focusing on high-end catalyst development for new energy applications [11][39] - Dongfang Shenghong has a vertically integrated "refining-polyester" chain, leveraging the high demand for epoxy propane to enhance profitability while expanding into photovoltaic materials [12][40]

Core Viewpoint - Global chemical giants such as BASF, Dow, and Huntsman are simultaneously raising prices across multiple regions including Europe, Asia, and the Middle East [4][6]. Group 1: Price Increases - Major chemical companies are implementing price hikes in response to market conditions [4][6]. - The price increases are observed in various regions, indicating a coordinated strategy among these global players [4][6]. Group 2: Policy Changes - The Ministry of Finance and the State Taxation Administration announced that starting from April 1, 2026, the export tax rebate for certain products, including PVC and its variants, will be canceled [4][6]. - The affected products include primary forms of pure PVC powder, unplasticized PVC, and plasticized PVC [4][6]. Group 3: Market Performance - The chemical sector has seen a continuous rise, with several stocks hitting the daily limit up, including Meibang Technology, Xinxiang Chemical Fiber, and Jiangtian Chemical [6]. - Other companies such as Yida Co., and Deer Chemical have experienced gains exceeding 10% [6].

Group 1 - The company, Zhong Chumai, is currently in the trial production phase of its high-purity alumina project, achieving a purity level of 5N [1]

Group 1 - The company has stated that its high-purity alumina product is not yet supplied to Yongtai Technology and Xinzhou Bang, and the project is currently in the trial production stage with a purity level reaching 5N [1] - The company is recognized as one of the few capable of stably supplying "electronic-grade" high-purity alumina to meet the demands of solid-state batteries, maintaining a leading position among domestic listed companies [3] - There is an ongoing inquiry from investors regarding the company's ability to supply high-purity alumina to major domestic lithium battery electrolyte and material companies [3]

Core Viewpoint - The company, Zhongchumai, indicated that its product prices are influenced by various factors such as market conditions, exchange rate fluctuations, and order quantities, and adjustments will be made according to the pricing mechanism [1] Group 1: Product Strategy - By 2026, the company plans to continuously enrich its product matrix and focus on new materials, new energy, energy chemicals, and fine chemicals to enhance its core competitiveness and market advantages both domestically and internationally [1]

Core Viewpoint - Dalian's Industrial and Information Technology Bureau has announced funding support for nine companies, including Puwan Economic Zone Zhongchumai New Materials Co., Ltd., highlighting the effectiveness of the park in promoting new technological transformations in manufacturing [1] Group 1: Technological Transformation Initiatives - Puwan Economic Zone has systematically organized new technological transformation initiatives focusing on fine chemicals and equipment manufacturing [1] - The initiatives aim to phase out high-energy-consuming, low-value-added outdated capacities in fine chemical enterprises and promote clean production processes and circular production models [1] - Equipment manufacturing enterprises are encouraged to adopt advanced equipment such as CNC machining centers and industrial robots, and to establish digital production management platforms to transition traditional manufacturing to flexible production [1] Group 2: Support and Funding Mechanisms - Dalian is one of the first pilot cities in the country for new technological transformations in manufacturing, with special funds focusing on technological upgrades in the chemical raw materials and chemical products manufacturing sectors [1] - For eligible upgraded equipment and newly completed technological transformation projects, one-time subsidies of up to 10% and 20% of the investment amount are provided, respectively [1] - The maximum subsidy for new technological transformation projects is 2 million yuan [1]

Core Viewpoint - The company, Zhong Chumai, is engaged in the research, production, and sales of specialty molecular sieves and catalytic new materials, with applications in various industries including environmental protection and energy chemistry [1] Group 1 - The company is unable to obtain market share data due to the numerous sub-segments within the industry [1] - The company plans to actively expand its business layout and continuously improve its profitability [1]

关于中触媒新材料股份有限公司 2025 年现场检查报告 根据《上海证券交易所科创板股票上市规则》《上海证券交易所科创板上市 公司自律监管指引第 1 号——规范运作》《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，申万宏源证券承销保荐有限 责任公司（以下简称"申万宏源承销保荐"或"保荐机构"）作为中触媒新材料 股份有限公司（以下简称"中触媒"或"公司"）持续督导工作的保荐机构，对 公司 2025 年 1 月 1 日至本次现场检查期间（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）保荐机构 申万宏源证券承销保荐有限责任公司 申万宏源证券承销保荐有限责任公司 2、查阅公司现行有效的公司章程、公司治理制度和内控制度等文件； （二）保荐代表人 黄霖、刘国库 （三）现场检查时间 2025 年 12 月 14 日至 18 日，2025 年 12 月 26 日 （四）现场检查人员 黄霖，蔡瑞皓 （五）现场检查内容 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 ...