Core Points - The company and its board members guarantee the authenticity, accuracy, and completeness of the quarterly report, assuming legal responsibility for any misrepresentation or omissions [2][3] - The third-quarter financial report has not been audited [3][8] - The company has not made any retrospective adjustments or restatements of previous accounting data [3][4] Financial Data - The company reported no non-recurring gains or losses applicable to the current quarter [3] - There are no changes in the major accounting data and financial indicators that require explanation [4] - The financial statements include the consolidated balance sheet, profit and cash flow statements for the period ending September 30, 2025 [7][8] Shareholder Information - The company has not reported any changes in the top ten shareholders or any significant shareholder lending activities [5] - The company held a board meeting on August 1, 2025, to approve the cancellation of the supervisory board and amend the company’s articles of association [5] - The company disclosed its half-year report on August 23, 2025, and held an earnings briefing on September 8, 2025 [6] Regulatory Matters - The company received an administrative penalty notice from the Liaoning Regulatory Bureau of the China Securities Regulatory Commission on September 30, 2025 [6]

Group 1 - ST Shenhua (SZ 000698) held its 9th meeting of the 10th Board of Directors on October 24, 2025, to review the proposal for the Q3 2025 report [1] - For the first half of 2025, ST Shenhua's revenue composition was 63.14% from the polyether chemical industry, 35.95% from the chlor-alkali chemical industry, and 0.9% from other businesses [1] - As of the report date, ST Shenhua's market capitalization was 3.1 billion yuan [1] Group 2 - A well-known brand spent 170 million yuan to acquire 2,000 shares of a target company with a registered capital of only 10,000 Hong Kong dollars, raising questions about the necessity of the acquisition [1]

Financial Performance - The company's operating revenue for Q3 2025 reached ¥1,433,209,693.01, representing a 16.65% increase year-over-year[5] - Net profit attributable to shareholders decreased by 72.87% to ¥26,479,514.24, while the net profit excluding non-recurring gains and losses increased by 18.03% to ¥13,942,479.19[5] - Total operating revenue for the current period reached ¥4,002,592,129.34, an increase of 10.99% compared to ¥3,605,609,576.19 in the previous period[19] - Net profit for the current period was ¥88,897,204.85, a significant recovery from a net loss of ¥186,552,835.05 in the previous period[20] - The company's basic and diluted earnings per share improved to ¥0.1085, recovering from a loss of ¥0.228 in the previous period[20] - The total comprehensive income for the current period was ¥88,897,204.85, compared to a comprehensive loss of ¥186,552,835.05 in the previous period[20] Cash Flow - The cash flow from operating activities for the year-to-date period increased significantly by 352.61% to ¥459,048,748.81[5] - Operating cash flow for the current period is ¥459,048,748.81, a significant increase from ¥101,423,173.38 in the previous period, reflecting a growth of approximately 353%[21] - Cash received from operating activities totaled ¥3,883,938,500.38, slightly down from ¥3,942,244,516.04, reflecting a decrease of about 1.5%[21] - Cash paid for purchasing goods and services is ¥3,159,027,505.12, down from ¥3,465,750,582.64, indicating a reduction of approximately 9%[21] - The net increase in cash and cash equivalents for the current period is ¥410,337,097.55, contrasting with a decrease of ¥405,102,422.81 in the previous period[22] Assets and Liabilities - Total assets as of the end of the reporting period amounted to ¥5,200,138,371.34, reflecting a 4.93% increase from the end of the previous year[5] - The company's total assets increased to ¥5,200,138,371.34, compared to ¥4,956,036,802.81 in the previous period, marking a growth of 4.91%[19] - Total liabilities rose to ¥3,722,805,020.44, up from ¥3,578,148,277.84, indicating an increase of 4.02%[19] - The company's accounts receivable increased by 42.14% to ¥198,351,523.31, primarily due to the commencement of operations at its subsidiary[9] - Total current assets amount to ¥2,215,763,696.77, an increase from ¥1,984,305,598.05 at the beginning of the period[17] Shareholder Information - Total number of common shareholders at the end of the reporting period is 46,492[12] - The largest shareholder, Shenyang Chemical Group Co., Ltd., holds 26.68% of shares, totaling 218,663,539 shares[12] - The second largest shareholder, China BlueStar (Group) Co., Ltd., holds 19.35% of shares, totaling 158,585,867 shares[12] - The company's total equity attributable to shareholders increased by 7.22% to ¥1,477,333,350.90[5] - The total equity attributable to shareholders increased to ¥1,477,333,350.90, compared to ¥1,377,888,524.97, reflecting a growth of 7.25%[19] Expenses and Costs - Total operating costs amounted to ¥3,933,125,268.47, up from ¥3,680,143,119.45, reflecting a year-over-year increase of 6.86%[19] - Management expenses decreased by 53.14% to ¥88,453,373.68, mainly due to the absence of prior year costs related to personnel settlements[10] - Research and development expenses were ¥83,360,033.08, slightly down from ¥93,440,512.39, indicating a focus on cost management[19] Other Operating Income - The company reported a significant increase in other operating income, which rose by 68.49% to ¥17,975,695.06, due to the write-off of unpayable accounts payable[10] Financing Activities - Total cash inflow from financing activities is ¥2,060,555,292.06, compared to ¥1,701,287,263.76 in the previous period, indicating an increase of about 21%[22] - Cash outflow for debt repayment is ¥2,178,479,666.56, down from ¥2,303,312,233.90, showing a decrease of approximately 5%[22] Performance Briefing - The company plans to hold a performance briefing on September 8, 2025, to discuss the half-year report[14] Regulatory Matters - The company received an administrative penalty notice from the China Securities Regulatory Commission on September 30, 2025[15]

Core Insights - ST Shenhua reported third-quarter revenue of 1.433 billion yuan, representing a year-on-year increase of 16.65% [1] - The net profit for the third quarter was 26.4795 million yuan, showing a significant year-on-year decline of 72.87% [1] - For the first three quarters, the total revenue reached 4.003 billion yuan, reflecting a year-on-year growth of 11.01% [1] - The net profit for the first three quarters was 88.8972 million yuan, which is a substantial year-on-year increase of 147.54% [1]

一、董事会会议召开情况 证券代码：000698 证券简称：ST 沈化 公告编号：2025-040 沈阳化工股份有限公司 第十届董事会第九次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准 确、完整，没有虚假记载、误导性陈述或重大遗漏。 1.会议的通知时间及方式：沈阳化工股份有限公司（以下简称"公司"）第 十届董事会第九次会议通知于 2025 年 10 月 14 日以电话及电子邮件方式发出。 2.会议的时间、地点和方式：本次会议定于 2025 年 10 月 24 日在公司办公 楼会议室以现场及网络会议相结合的方式召开。 3.会议出席情况：本次会议应出席董事 9 名，实际出席董事 9 名。公司董事 会成员通过现场及网络会议的方式出席本次会议。 本议案提交董事会审议前，已经公司董事会审计委员会全体委员一致表决通 过，并发表同意的审查意见。 4.会议的主持人及列席人员：本次会议由公司董事长朱斌先生主持，公司高 管人员列席会议。 5.会议召开的合规性：本次会议的召开符合有关法律、行政法规、部门规章、 规范性文件和公司章程的规定。 二、董事会会议审议情况 1.关于 2025 年三季度报告的议案 内容详见公司 ...

Core Viewpoint - The quality supervision inspection report for chemical products in Shenyang, Liaoning Province indicates that all tested batches of chlor-alkali products are compliant with quality standards [1] Group 1: Inspection Results - Two batches of hazardous chemical chlor-alkali products were inspected, and both were found to be qualified [1] - The inspected products include industrial-grade hydrochloric acid and industrial-grade sodium hydroxide, both produced by Shenyang Chemical Company [1] Group 2: Company Information - Shenyang Chemical Company is located in the Shenyang Economic and Technological Development Zone, specifically at No. 55, East Road, Tiexi District [1] - The production date for the inspected products was June 30, 2025, and no non-conformities were detected during the inspection [1]

Core Insights - The refining and trading sector experienced a rise of 1.78% on October 20, with Baoli International leading the gains [1] - The Shanghai Composite Index closed at 3863.89, up 0.63%, while the Shenzhen Component Index closed at 12813.21, up 0.98% [1] Sector Performance - Baoli International (300135) closed at 4.35, up 3.33% with a trading volume of 202,200 shares and a turnover of 87.25 million yuan [1] - Bohai Chemical (600800) closed at 4.00, up 2.83% with a trading volume of 194,300 shares and a turnover of 76.71 million yuan [1] - China Petroleum (601857) closed at 8.62, up 2.50% with a trading volume of 2,088,200 shares and a turnover of 1.78 billion yuan [1] - Other notable performers include Maohua Shihua (000637) and ST Shenhua (000698), with increases of 2.38% and 2.30% respectively [1] Capital Flow - The refining and trading sector saw a net inflow of 355 million yuan from main funds, while retail funds experienced a net outflow of 81.87 million yuan [2] - Major stocks like China Petroleum and Guanghui Energy attracted significant net inflows, with China Petroleum receiving 262 million yuan [3] - Retail investors showed a negative trend, with notable outflows from several stocks including China Petroleum and Guanghui Energy [3]

Core Viewpoint - Shenyang Chemical (000698.SZ) has been placed under special risk warning and its stock name changed to "ST Shenhua" due to financial fraud issues, resulting in a 5% daily price fluctuation limit [1] Financial Fraud Penalty - Shenyang Chemical's financial fraud spanned four years, with the company disclosing corrections to financial data from 2018 to 2021 due to accounting errors [2] - The company attributed these errors to inadequate inventory management, lack of training, and insufficient supervision, leading to discrepancies in financial records [2] Regulatory Investigation - On August 9, 2024, Shenyang Chemical received a notice of investigation from the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure [3] - The investigation revealed that from 2018 to 2021, the company manipulated financial data through its subsidiary, resulting in a cumulative profit inflation of 438 million yuan [3] - Specific profit manipulations included inflating profits by 130 million yuan, 204 million yuan, and 104 million yuan in 2018, 2019, and 2020 respectively, while reducing profits by 148 million yuan in 2021 [3] Regulatory Actions - The company was fined 7 million yuan, with significant penalties imposed on several executives, including an 8-year market ban for the former chairman [3] - Despite the violations, the company does not face mandatory delisting and can apply to lift the risk warning after 12 months of compliant operations [4] Performance Recovery - Following the financial turmoil, Shenyang Chemical reported a recovery in performance, achieving revenue of 2.569 billion yuan and a net profit of 62.42 million yuan in the first half of the year, marking a year-on-year revenue increase of 8.09% and a profit turnaround from a loss of 285 million yuan [5][6] - The recovery is attributed to improved management practices and the successful trial production of a new 240,000-ton/year polyether polyol project, which has become a new profit growth point [5][6]

Core Points - Shenyang Chemical Co., Ltd. will have its stock subjected to other risk warnings starting October 10, following a notice from the Liaoning Securities Regulatory Bureau regarding administrative penalties for financial misconduct [1][5][6] - The company has been found to have manipulated financial data over multiple years, leading to significant discrepancies in reported profits [2][3] Financial Misconduct - The Liaoning Securities Regulatory Bureau's notice indicates that Shenyang Chemical's financial reports from 2018 to 2021 contained false records due to deliberate adjustments rather than simple errors [2][3] - The company reported inflated profits of CNY 130 million, CNY 204 million, and CNY 104 million for the years 2018 to 2020, which represented 80.44%, 29.40%, and 19.14% of the respective reported profits [3] - In 2021, the company reported a reduced profit of CNY 148 million, accounting for 70.11% of the reported profit for that year [3] Regulatory Actions - The company and responsible individuals have received a warning and proposed fines totaling CNY 7 million, with specific penalties for key executives ranging from CNY 100,000 to CNY 3.5 million [5][6] - Proposed sanctions include an 8-year market ban for the former chairman and a 5-year ban for the former chief accountant [6] Company Performance and Impact - Shenyang Chemical has faced poor performance in recent years, with cumulative losses of CNY 678 million since its listing, although it reported a profit of CNY 62.42 million in the first half of this year [7] - The risk warning will significantly impact the company's stock trading, limiting daily price fluctuations to 5% and excluding it from financing options, which may lead to a loss of investor confidence and increased operational challenges [7]

登录新浪财经APP 搜索【信披】查看更多考评等级 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 特别提示： 1.沈阳化工股份有限公司（以下简称"公司"）于2025年9月30日收到中国证券监督管理委员会辽宁监管 局下发的《行政处罚事先告知书》（〔2025〕5号）（以下简称"《事先告知书》"），根据《事先告知 书》载明的内容及《深圳证券交易所股票上市规则（2025年修订）》第9.8.1条"上市公司出现以下情形 之一的，本所对其股票实施其他风险警示：（八）根据中国证监会行政处罚事先告知书载明的事实，公 司披露的年度报告财务指标存在虚假记载，但未触及本规则第9.5.2条第一款规定的情形，前述财务指标 包括营业收入、利润总额、净利润、资产负债表中的资产或者负债科目"等相关规定，公司股票将被实 施其他风险警示，但未触及《深圳证券交易所股票上市规则（2025年修订）》第九章第五节规定的重大 违法类强制退市情形。 2.公司股票自2025年10月9日（星期四）开市起停牌1天，将于2025年10月10日（星期五）开市起复牌。 3.公司股票简称自2025年10月10日（星期五）被 ...