Group 1 - The audit report provides a fair representation of the financial performance of Yichang Newfa Industrial Investment Co., Ltd. for the transitional period from August 1, 2024, to May 31, 2025 [1][2] - The management is responsible for preparing the consolidated profit and loss statement in accordance with the specified basis of preparation, ensuring it reflects a true and fair view [2][3] - The audit was conducted in accordance with Chinese CPA auditing standards, aiming to obtain reasonable assurance that the financial statements are free from material misstatement due to fraud or error [2][4] Group 2 - Yichang Newfa Industrial Investment Co., Ltd. was established on February 12, 2018, with a registered capital of 1.5 billion RMB, focusing on investment in emerging industries, petrochemicals, new energy, and environmental protection [5][6] - The company operates under a continuous operating assumption for the preparation of its consolidated profit and loss statement, covering the period from August 1, 2024, to May 31, 2025 [7][8] - The financial statements are prepared based on the relevant accounting standards and do not include comparative data for the transitional period [8][9] Group 3 - The company’s accounting policies include the recognition of financial instruments, with specific classifications for financial assets and liabilities based on their characteristics and management intentions [18][19] - The company assesses expected credit losses for financial instruments based on historical data, current conditions, and forecasts of future economic conditions [30][31] - Inventory is measured at the lower of cost and net realizable value, with specific methods for valuation and recognition of impairment losses [32][33]

宜昌新发产业投资有限公司 过渡期损益情况专项审计报告 2024 年 8 月 1 日至 2025 年 5 月 31 日 信会师报字[2025]第 ZE23457 号 宜昌新发产业投资有限公司 过渡期损益情况专项审计报告 （2024 年 8 月 1 日至 2025 年 5 月 31 日止） | | 目录 | 页次 | | --- | --- | --- | | 一、 | 过渡期损益情况专项审计报告 | 1-3 | | 二、 | 过渡期合并利润表 | 1 | | 三、 | 过渡期合并利润表附注 | 1-38 | 过渡期损益情况专项审计报告 信会师报字[2025]第 ZE23457 号 湖北宜化化工股份有限公司全体股东： 一、 审计意见 我们审计了宜昌新发产业投资有限公司（以下简称新发投）编制 的 2024 年 8 月 1 日至 2025 年 5 月 31 日过渡期合并利润表及其附注 （以下简称过渡期合并利润表）。 我们认为，后附的过渡期合并利润表在所有重大方面按照"附注 二所述编制基础"的规定编制，公允反映了新发投 2024 年 8 月 1 日至 2025 年 5 月 31 日的交割过渡期经营成果。 二、 形成审计 ...

二、过渡期损益审计情况 证券代码：000422 证券简称：湖北宜化 公告编号：2025-080 湖北宜化化工股份有限公司 关于重大资产出售暨关联交易之标的资产 过渡期损益情况的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、 完整，没有虚假记载、误导性陈述或重大遗漏。 湖北宜化化工股份有限公司（以下简称"公司"或"上市公司"） 以支付现金的方式向控股股东湖北宜化集团有限责任公司（以下简称 "宜化集团"）购买其拥有的宜昌新发产业投资有限公司（以下简称 "宜昌新发投"或"标的公司"）100%股权（以下简称"本次交易"）。 本次交易所涉及的标的资产过户手续已全部办理完毕，详见 2025 年 6 月 5 日巨潮资讯网《湖北宜化化工股份有限公司重大资产购买暨关 联交易实施情况报告书》。截至本公告披露日，立信会计师事务所（特 殊普通合伙）已完成标的资产过渡期损益审计工作，现将有关情况公 告如下： 一、过渡期损益安排 根据公司与宜化集团签署的《支付现金购买资产协议》约定，评 估基准日至标的股权交割日为本次交易的过渡期。标的资产在过渡期 内的收益归上市公司所有，亏损由交易对方补足。若交割日为当月 15 日之前，则过 ...

证券代码：000422 证券简称：湖北宜化 公告编号：2025-079 特此公告。 湖北宜化化工股份有限公司 董 事 会 湖北宜化化工股份有限公司 2025 年 7 月 8 日 关于变更注册地址及修订《公司章程》的 进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确、 完整，没有虚假记载、误导性陈述或重大遗漏。 湖北宜化化工股份有限公司（以下简称"公司"）于 2025 年 6 月 13 日召开的第十届董事会第四十九次会议、2025 年 6 月 30 日召 开的 2025 年第四次临时股东会审议通过了《关于变更注册地址及修 订<公司章程>的议案》，同意公司注册地址由"宜昌市猇亭区"变更 为"湖北省枝江市白洋工业园田家河路 122 号"，并根据《中华人民 共和国公司法（2023 年修订）》《上市公司章程指引（2025 年修订）》 等法律法规相关规定，结合经营管理需要，对《湖北宜化化工股份有 限公司章程》（以下简称"《公司章程》"）部分条款进行修订，具 体内容详见 2025 年 6 月 14 日巨潮资讯网《关于变更注册地址及修订 <公司章程>的公告》。 2025 年 7 月 8 日，公司办理完成注册地址变 ...

证券代码：000422 证券简称：湖北宜化 公告编号：2025-078 湖北宜化化工股份有限公司 关于对外担保的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确、 完整，没有虚假记载、误导性陈述或重大遗漏。 一、担保情况概述 湖北宜化化工股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日召开的 2024 年度股东会审议通过《关于 2025 年度对外担保 额度预计的议案》《关于为参股公司提供担保暨关联交易的议案》， 同意 2025 年度公司为控股子公司及参股公司提供总计不超过 327,120.00 万元的担保额度，其中对资产负债率大于 70%的控股子公 司提供 135,100.00 万元担保额度，对资产负债率小于或等于 70%的控 股子公司提供 182,202.00 万元担保额度，对资产负债率小于或等于 70%的部分参股公司提供 9,818.00 万元担保额度；同意为新疆宜化化 工有限公司（以下简称"新疆宜化"）提供 61,201.00 万元担保。 根据生产经营资金需要，公司将全资子公司湖北宜化国际贸易有 限公司部分未使用的担保额度 8,000.00 万元和全资子公司内蒙古宜 化化工 ...

Investment Rating - The report maintains an "Outperform" rating for the agricultural chemical industry [7][10]. Core Views - The agricultural chemical industry is expected to benefit from rising prices of potassium fertilizer and glyphosate, with supply constraints for the insecticide "Kangkuan" [2][5]. - The potassium fertilizer market is characterized by tight supply and demand, with a significant reliance on imports, which is projected to increase due to food security concerns [2][27]. - The phosphoric chemical sector is anticipated to maintain high price levels due to the scarcity of phosphate rock resources and increasing demand from new applications [3][51]. Summary by Sections Potassium Fertilizer - Global potassium fertilizer prices are expected to recover as demand increases, with China being the largest consumer and heavily reliant on imports [2][27]. - Domestic production of potassium chloride is projected to decrease slightly in 2024, while imports are expected to reach a historical high [27]. - The domestic potassium chloride price is forecasted to rise by approximately 100 yuan/ton in July due to increased port prices [2][45]. Phosphoric Chemicals - The price of phosphate rock is expected to remain high due to declining grades and increasing extraction costs, with a tight supply-demand balance [3][51]. - As of June 30, 2025, the market price for 30% grade phosphate rock in Hubei is 1,040 yuan/ton, while in Yunnan it is 970 yuan/ton, both stable compared to the previous month [3][51]. - The export policy for phosphoric fertilizers emphasizes domestic priority, with reduced export quotas expected to alleviate downward pressure in the domestic market [4]. Pesticides - The supply of "Kangkuan" has been unexpectedly restricted, leading to a potential price increase for the product [5]. - Glyphosate prices have risen by 1,300 yuan/ton in June, driven by increased demand from South America as planting areas for soybeans and corn expand [5][9]. - The report recommends focusing on leading companies in the glyphosate sector, such as "Xingfa Group," which has a significant production capacity [9]. Key Company Recommendations - The report recommends "Yaji International" for potassium fertilizer, projecting production of 2.8 million tons in 2025 and 4 million tons in 2026 [5][49]. - For phosphoric chemicals, "Yuntianhua" and "Xingfa Group" are highlighted as key players due to their rich phosphate reserves [6]. - In the pesticide sector, "Xingfa Group" is recommended for its leading position in glyphosate production [9].

Group 1 - The core point of the news is the performance and holdings of the Dachen State-Owned Enterprise Reform Flexible Allocation Mixed A Fund, which has shown varying returns over different time frames [1] - As of July 4, 2025, the fund's latest net value is 3.4950 yuan, reflecting a decrease of 0.94% [1] - The fund's one-month return is 5.21%, ranking 146 out of 871 in its category, while its six-month return is 12.34%, ranking 214 out of 862 [1] - Year-to-date, the fund has achieved a return of 10.29%, ranking 165 out of 860 [1] Group 2 - The top ten stock holdings of the fund account for a total of 67.75%, with the largest holding being Sailun Tire at 9.57% [1] - Other significant holdings include Haohua Technology (8.69%), Yun Aluminum (8.06%), and China Aluminum (8.02%) [1] - The fund was established on September 21, 2017, and as of March 31, 2025, it has a total scale of 1.155 billion yuan [1] Group 3 - The fund manager, Han Chuang, has a master's degree in economics and has been with Dachen Fund Management since June 2015 [2] - Han has held various positions, including being a member of the stock investment decision committee and managing multiple funds since 2019 [2] - He has been the fund manager for the Dachen State-Owned Enterprise Reform Flexible Allocation Mixed Fund since January 13, 2021 [2]

Group 1 - The event in Yichang focused on the digital transformation challenges in the chemical industry, aiming to empower the sector through policy interpretation, experience sharing, case demonstrations, and on-site research [1] - Hubei Province has achieved significant progress in manufacturing digital transformation, being the first in the nation to cover provincial-level small and medium-sized enterprise digital transformation city pilots [1] - The province has established 170,000 5G base stations, with computing power exceeding 14,000 P (1 P equals 10 quadrillion floating-point operations per second), showing a year-on-year growth of over 200% [1] Group 2 - The theme of the conference was "Intelligent Empowerment and Contribution Points," featuring discussions on building an "Industrial Brain" and the importance of integrating factory equipment data to create an efficient chemical production system [2] - Experts from various institutions provided insights on the latest policies, concepts, trends, and technological support for digital transformation in the industry, covering transformation paths, provincial policy support, and application of identification and resolution [2] - Leading companies in Hubei, such as Hubei Sanning Chemical Co., Hubei Yihua Group Co., and Hualu Hengsheng, showcased their smart factory achievements, presenting replicable "Hubei experience" [2]

Investment Rating - The report does not explicitly state an investment rating for the chemical industry Core Insights - In June 2025, the basic chemical index increased by 6.42%, ranking 10th among primary industries, driven by rising oil prices affecting certain chemical product prices [2][11] - Among the 600 chemical products monitored, the top ten products with the highest price increases included butanone (16.36%) and ammonium sulfate (14.39%) [3][24] - The report highlights that 407 companies in the basic chemical sector achieved positive returns, while 130 companies reported negative returns in June 2025 [20] Market Overview - Major market indices in June 2025 showed the following changes: Shanghai Composite Index increased by 2.90%, Shenzhen Component Index by 4.23%, and the ChiNext Index by 8.02% [11] - The basic chemical sector's performance was notably strong, with sub-industry growth rates such as plastics and products at 7.79% and other chemical products II at 7.36% [16] Product Price Movements - The report identifies significant price movements in various chemical products, with the top gainers being butanone and ammonium sulfate, while the largest declines were seen in vitamin E (-27.66%) and vitamin D3 (-26.32%) [24][28] - The report provides detailed price data for key products, indicating a general upward trend in prices for many chemicals due to rising raw material costs [26][27] Industry Profitability - From January to May 2025, the total profit of the chemical raw materials and products manufacturing industry decreased by 4.7%, with a total profit of 151.58 billion yuan [4][32] - The report notes a decline in factory prices by 4.1% year-on-year, reflecting broader economic challenges faced by the industry [4][32] Company Performance - The report lists the top ten basic chemical companies by monthly performance, with notable increases in stock prices for companies like Keheng Co. (122.00%) and Xingye Co. (97.50%) [21][22] - Conversely, companies such as Shanghai Jahwa and Yongguan New Materials experienced significant declines, with monthly drops of -11.32% and -11.68% respectively [23]

Group 1: Major Asset Acquisition Impact - The completion of the major asset acquisition has resulted in the company holding 75% of Xinjiang Yihua, significantly increasing production capacities: 600,000 tons of urea, 300,000 tons of PVC, 250,000 tons of caustic soda, and 30 million tons of coal annually [1] - The acquisition enhances the company's scale and cost advantages, while also extending the industrial chain by adding coal mining operations, leading to a more stable profit model [1] - Xinjiang Yihua's location in the准东 Economic Development Zone provides natural cost advantages and aligns with national energy development strategies [1] Group 2: Coal Mining Profitability - Xinjiang Yihua Mining has a resource reserve of 2.108 billion tons and an annual production capacity of 30 million tons [2] - Competitive advantages include low mining costs due to favorable geological conditions, high-quality coal products, and significant location and policy advantages [2] - The controlling shareholder, Yihua Group, has committed to a net profit of no less than 301.15535 million yuan from mining rights for 2025-2027, ensuring shareholder interests [2] Group 3: Industrial Upgrades and Environmental Compliance - The company has shut down old plants in Yichang and is relocating production to a new chemical park, with partial production of 200,000 tons of refined phosphoric acid and 650,000 tons of ammonium phosphate already underway [3] - The strategy focuses on resource recycling and energy efficiency, aiming to enhance profitability and core competitiveness through automation and process improvements [3] Group 4: Shareholder Engagement and Value Management - Yihua Group has increased its stake in the company by 711 million yuan, acquiring 71,834,155 shares, which is 6.6% of the total share capital [4] - A new plan to increase shareholding by 200 million to 400 million yuan within six months has been announced, alongside measures to improve shareholder returns and market communication [4] Group 5: Future Strategic Planning - The company aims to deepen vertical integration in the coal chemical industry, leveraging Xinjiang's resource advantages to establish a significant coal-based chemical production base [7] - Plans include upgrading the Yichang industrial park and optimizing product structures to focus on high-end chemicals and new materials [7]