Core Viewpoint - The company, Guangdong Jushi Chemical Co., Ltd., has made significant adjustments to its financial forecasts and reports due to substantial impairment losses related to its subsidiary, Guanzhen Technology, and other asset evaluations, leading to a shift from profit to loss in its financial performance for 2024 [1][15]. Financial Performance - In 2024, the company reported operating revenue of 4.08 billion yuan, a year-on-year increase of 10.72% [15]. - The net profit attributable to shareholders was -236 million yuan, a reversal from a profit of 29 million yuan in the previous year [15]. - The non-recurring net profit was -206 million yuan, compared to -25 million yuan in the same period last year [15]. Adjustments and Impairments - The company corrected its earnings forecast due to significant adjustments in operating profit, total profit, net profit attributable to shareholders, and earnings per share, primarily due to impairment losses totaling 43.62 million yuan for performance compensation related to Guanzhen Technology [1][15]. - Specific impairment losses included 43.62 million yuan for performance compensation, 11.63 million yuan for fixed asset expenses, 21 million yuan for intangible assets, and 21.75 million yuan for fixed assets related to leasing [1]. Business Background and Agreements - The company acquired a 55% stake in Guanzhen Technology for 132 million yuan, with a payment structure based on the company's net profit over three years [4][5]. - Adjustments to the performance commitments for Guanzhen Technology were made, with minimum net profit targets set for 2022, 2023, and 2024 at 12 million yuan, 18 million yuan, and 24 million yuan, respectively [5]. Internal Control and Compliance - The company conducted a comprehensive self-examination and found no other accounting errors or necessary retrospective adjustments, indicating that internal controls related to financial reporting were not significantly deficient [12][13]. - The management has implemented corrective measures to enhance compliance and internal control, focusing on asset value accounting and fixed asset depreciation [12][13]. Customer and Supplier Information - The company provided detailed information on its top five customers and suppliers, including transaction amounts and changes in rankings, indicating a shift in customer dynamics and market conditions [16][18].

证券代码：688669 证券简称：聚石化学 公告编号：2025-037 广东聚石化学股份有限公司 关于上海证券交易所对公司 2024 年年度报告的 信息披露监管问询函的回复公告 本公司董事会、全体董事及相关股东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、准确性和完整性依法承担法律 责任。 广东聚石化学股份有限公司（以下简称"公司"）于近期收到上海证券交易 所出具的《关于广东聚石化学股份有限公司2024年年度报告的信息披露监管问询 函》（上证科创公函【2025】0157号）。公司高度重视有关问询事项，对相关事 项进行了核查，现将有关情况回复如下： 一、关于业绩预告及快报更正。4月29日，公司披露《2024年度业绩快报 暨业绩预告更正公告》，更正前后营业利润、利润总额、归母净利润、扣非 后归母净利润、每股收益差异较大。主要原因是：公司对冠臻科技的业绩补 偿款计提减值损失4,362万元、固定资产进行费用化处理1,163万元、无形资产 计提减值损失2,100万元、循环租赁业务固定资产计提减值损失2,175万元。 请公司：（1）逐项说明各个调整事项的计算方式、原因及合理性，相关 调整 ...

Core Viewpoint - The upcoming half-year report season is expected to show a positive trend in A-share companies' performance, with a significant number of companies forecasting profit increases, indicating a potential investment opportunity in high-growth sectors [1][2][4]. Group 1: Performance Forecasts - As of June 22, 2025, 18 A-share companies have disclosed their half-year performance forecasts, with 11 companies expecting profit increases, accounting for 61.11% of the total [1]. - Among the companies forecasting profit growth, notable increases include Shengnuo Biological (332.1%), Luxshare Precision (25%), and Jiao Da Iron & Steel (19.91%) [2]. - Six companies, including Luxshare Precision and Zhongce Rubber, are expected to achieve net profits exceeding 100 million yuan, with Luxshare Precision forecasting 6.745 billion yuan [2][3]. Group 2: Revenue Expectations - Eleven companies are projected to have revenues exceeding 500 million yuan, with five companies expected to surpass 1 billion yuan [3]. - Luxshare Precision leads in revenue expectations, while Zhongce Rubber anticipates revenue between 20 billion to 21.4 billion yuan, reflecting a year-on-year growth of 8% to 15.56% [3]. Group 3: Market Sentiment and Sector Insights - Analysts suggest that improving performance expectations can stabilize market sentiment and reduce short-term volatility, particularly in sectors like electronics and communications, which are benefiting from the AI industry's growth [4]. - The traditional Chinese medicine sector is also expected to see a performance turnaround, with analysts predicting significant revenue and profit growth in the second quarter of 2025 [4]. - Investment strategies should consider both short-term performance forecasts and long-term value growth commitments to support stable valuation increases [4].

Group 1 - The core viewpoint of the article highlights the strong performance of global IPO markets in the first half of 2025, with Hong Kong leading in IPO financing [1][7] - Deloitte's report indicates that Hong Kong's IPO financing reached 102.1 billion HKD, a significant increase of 673% compared to the previous year [7][9] - The A-share market also saw growth, with 50 new IPOs raising 37.1 billion RMB, reflecting a 14% increase in both the number of IPOs and financing compared to the previous year [3][6] Group 2 - Zhejiang province had two companies among the top five A-share IPOs, with Zhongce Rubber leading at 4.1 billion RMB [4][6] - The report anticipates that the A-share market will become more active in the second half of the year, particularly for high-tech companies, due to new policies from the China Securities Regulatory Commission [6][9] - Hong Kong's IPO market is expected to attract more companies, with over 170 listing applications in process, and a projected total financing of 200 billion HKD for the year [9]

Core Viewpoint - The company, Guangdong Jushi Chemical Co., Ltd., is undergoing a delay in some of its fundraising projects, which has been reviewed and approved by its board of directors, ensuring compliance with relevant regulations and maintaining the integrity of its investment plans [1][5]. Fundraising Overview - The company raised a total of RMB 855.1667 million through the issuance of 23.333334 million shares at a price of RMB 36.65 per share, with all funds received by January 19, 2021 [1][2]. - The raised funds are stored in a special account approved by the board, with a regulatory agreement in place with the sponsoring institution and the bank [2]. Investment Project Status - As of March 31, 2025, the total planned investment for the projects is RMB 1.2005951 billion, with cumulative investment amounting to RMB 552.4919 million, achieving a progress rate of 99.39% [3]. - The company has decided to conclude certain projects and reallocate surplus funds to enhance liquidity [3]. Delay Details - The delay in the "Chizhou Halogen-Free Flame Retardant Expansion Project" and "Anqing Polystyrene Production Project" is attributed to various factors, including climate conditions, construction capabilities, equipment debugging, and administrative approvals [4]. - The company has taken a cautious approach to control the investment pace of the "Anqing Polystyrene Production Project" due to external economic conditions and internal strategic adjustments [4]. Measures for Completion - The company plans to closely monitor market changes, expedite administrative approvals, optimize resource allocation, and enhance project supervision to ensure timely completion of the delayed projects [4]. Impact of Delay - The delay is a prudent decision based on actual project conditions and does not alter the investment content, total investment, or intended use of funds, thus not significantly impacting the company's normal operations or shareholder interests [4][5]. - The company will continue to adhere to regulatory requirements and strengthen both internal and external oversight of fund usage [5].

Group 1 - The board of directors of Guangdong Jushi Chemical Co., Ltd. held its 28th meeting on June 16, 2025, with all 9 directors present, ensuring compliance with relevant laws and regulations [1][2] - The board approved the extension of the expected operational readiness dates for the "Chizhou Halogen-free Flame Retardant Expansion Project" and the "Anqing Polystyrene Production Project," without altering the investment content or total amount [1][2] - The decision to extend the project timelines was made unanimously, with 9 votes in favor and no opposition or abstentions [2] Group 2 - To support daily operations and development, the company applied for a comprehensive credit facility of RMB 500 million from China Industrial Bank and RMB 500 million from China Construction Bank, allowing for various types of loans [2] - The credit facility is not equivalent to the actual financing amount, which will depend on the company's operational needs, with a 12-month validity and the ability to recycle the credit within that period [2]

Core Viewpoint - The company has decided to postpone the expected completion dates for two fundraising projects, which will not affect the overall investment content or total amount of the projects [1][4]. Fundraising Overview - The company raised a total of RMB 85,516.67 million from the public offering of 23,333,334 shares at a price of RMB 36.65 per share, with a net amount of RMB 77,572.97 million after deducting issuance costs [1][2]. - As of March 31, 2025, the total planned investment for the fundraising projects is RMB 120,059.51 million, with cumulative investment amounting to RMB 55,249.19 million, achieving a progress rate of 99.39% [2]. Project Delay Details - The postponement of the projects is due to various factors including climate conditions, construction capacity, equipment debugging, and administrative approvals affecting the "Chizhou Halogen-free Flame Retardant Expansion Project" [4]. - The "Anqing Polystyrene Production Project" faced delays due to macroeconomic conditions, market environment impacts, and internal adjustments in business focus and industry chain planning [4]. Measures for Completion - The company will closely monitor market changes, actively promote administrative approvals, optimize resource allocation, and enhance supervision of the fundraising projects to ensure timely completion [4]. Impact of Delay - The delay is a prudent decision based on actual project conditions and will not change the investment content or total amount of the projects, nor will it adversely affect the company's normal operations [4][5]. - The company will continue to comply with regulatory requirements and strengthen internal and external supervision of fundraising usage [4]. Approval Process - The board of directors approved the postponement of the fundraising projects, which does not require submission to the shareholders' meeting for further approval [5]. Sponsor's Opinion - The sponsor, Tianfeng Securities, confirmed that the postponement has been properly approved by the board and does not negatively impact the company's operations or shareholder interests [5].

天风证券股份有限公司 关于广东聚石化学股份有限公司 部分募投项目延期的核查意见 天风证券股份有限公司（以下简称"天风证券"或"保荐机构"）作为广东 聚石化学股份有限公司（以下简称"聚石化学"或"公司"）的持续督导机构， 已承接聚石化学原保荐机构光大证券股份有限公司未完成的持续督导工作，且 持续督导期已于 2024 年 12 月 31 日结束，但由于公司募集资金尚未使用完毕， 天风证券仍需对公司剩余募集资金的使用情况进行专项督导。现天风证券根据 《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》 《上市公司募集资金监管规则》《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》等有关法律法规和规范性文件的规定，就聚石化学部分 募投项目延期的事项进行了专项核查，并发表意见如下： 一、募集资金的基本情况 根据中国证券监督管理委员会出具的《关于同意广东聚石化学股份有限公司 首次公开发行股票注册的批复》（证监许可〔2020〕3569 号），公司获准向社会 公开发行人民币普通股 2,333.3334 万股，每股面值人民币 1.00 元，每股发行价 为人民币 36.65 元，合计募集资金人民 ...

广东聚石化学股份有限公司 关于部分募投项目延期的公告 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、准确性和完整性依法承担法律责任。 广东聚石化学股份有限公司（以下简称"公司"）于 2025 年 6 月 16 日召开 第六届董事会第二十八次会议，审议通过了《关于部分募投项目延期的议案》， 同意将首次公开发行股票募集资金投资项目（以下简称"募投项目"）"池州 无卤阻燃剂扩产建设项目"和"安庆聚苯乙烯生产建设项目"达到预定可使用 状态的时间进行延期。天风证券股份有限公司（以下简称"天风证券"或"保荐机 构"）对本事项出具了明确同意的核查意见。本次延期未改变募投项目的投资内 容、投资总额，不会对募投项目的实施造成实质性的影响。本事项属于公司董 事会决策权限范围内，无需提交公司股东大会审议。现将相关情况公告如下： 一、募集资金的基本情况 证券代码：688669 证券简称：聚石化学 公告编号：2025-036 二、募集资金投资项目情况 截至 2025 年 3 月 31 日，公司募投项目及使用情况如下： | 序 | | | 拟投资总 | 调整后拟 | 募集资金 | ...

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、董事会会议召开情况 广东聚石化学股份有限公司（以下简称"公司"）第六届董事会第二十八次会 议于 2025 年 6 月 16 日以现场结合通讯的方式召开，会议通知及相关材料于 2025 年 6 月 12 日以邮件、通讯形式送达公司全体董事。本次会议应出席董事 9 人， 实际出席董事 9 人。会议由董事长陈钢先生主持，公司监事及高级管理人员列席 了本次会议。本次会议的召开符合《中华人民共和国公司法》《上海证券交易所 科创板股票上市规则》等相关法律法规、行政法规、规范性文件和《广东聚石化 学股份有限公司章程》的有关规定，会议决议合法、有效。 二、董事会会议审议情况 证券代码：688669 证券简称：聚石化学 公告编号：2025-035 广东聚石化学股份有限公司 第六届董事会第二十八次会议决议公告 表决情况：同意 9 票，反对 0 票，弃权 0 票。 特此公告。 1、审议通过《关于部分募投项目延期的议案》 同意将首次公开发行股票募集资金投资项目"池州无卤阻燃剂扩产建设项目" 和"安庆 ...