Core Viewpoint - The report from Guohai Securities indicates that Hengyi Petrochemical achieved a net profit attributable to shareholders of 227 million yuan in the first half of the year, representing a year-on-year decrease of 47.32% [1] Group 1: Financial Performance - The company's net profit for Q2 2025 showed both year-on-year and quarter-on-quarter growth, indicating a positive trend for the second half of the year [1] - The projected production launch of the 1.2 million ton caprolactam-nylon project in Guangxi is expected to contribute positively to the company's financial performance in the latter half of the year [1] Group 2: Strategic Positioning - The project integrates technological advantages, vertical integration, and product structure advantages, which are anticipated to further solidify the company's position in the industry [1] - The establishment of a unique "polyester + nylon" dual-main business model is expected to enhance the company's competitive edge in the domestic market [1] Group 3: Industry Outlook - The company is recognized as a leading private multinational enterprise in the "refining-chemical-fiber" integration sector within the petrochemical and chemical fiber industry [1] - Continuous efforts to extend and strengthen the supply chain, along with the diversification and optimization of product offerings, are viewed positively for the company's growth potential [1]

Group 1 - The emphasis on deep integration of "two new" initiatives is crucial for addressing new growth challenges [2] - The focus on strengthening and optimizing the manufacturing and real economy sectors is highlighted, with a push for advanced manufacturing clusters [2] - The importance of collaboration between enterprises, universities, and research institutions to drive innovation and application transformation is stressed [2] Group 2 - The promotion of consumption transformation and upgrading is a key area of concern, with a focus on responsible management in the media and content sectors [3] - The need for leveraging landmark venues for impactful events and integrating culture, sports, and tourism to meet diverse consumer demands is emphasized [3] - The commitment to cultural heritage protection and the enhancement of research and dissemination of cultural relics is reinforced [3]

Investment Rating - The industry investment rating is "Neutral" based on the performance of the industry index relative to the benchmark [136]. Core Insights - The report highlights that the "Golden September" season is approaching, leading to improved orders in the downstream long filament sector [1]. - The Brent crude oil average price for the week ending September 5, 2025, was $67.67 per barrel, reflecting a decrease of 0.99% [2]. - Domestic and foreign refining project price differentials were tracked, with domestic projects at 2361.03 CNY/ton (-1.28%) and foreign projects at 1133.43 CNY/ton (+4.45%) [2]. Summary by Sections Refining Sector - Geopolitical risks have increased due to attacks on oil tankers, while U.S. oil demand has decreased, leading to concerns about supply exceeding demand [1]. - Brent and WTI crude oil prices were reported at $65.5 and $61.9 per barrel, respectively, showing declines from the previous week [14]. - The domestic and international product price differentials have widened, with domestic diesel and gasoline prices slightly down [14]. Chemical Sector - The report indicates a mixed trend in refining product price differentials, with olefins showing slight improvement while aromatics have narrowed [1]. - Polyethylene prices fluctuated, while polypropylene prices remained stable with a slight widening of price differentials [53]. - EVA prices increased due to strong demand from the photovoltaic sector, with significant widening of price differentials [53]. Polyester Sector - The cost structure for the polyester industry has shifted downwards, but demand for long filaments has improved as the peak season approaches [1]. - The average price for polyester long filaments has increased, leading to improved profitability [104]. - The report notes a decrease in supply for long filaments, with domestic and foreign orders showing slight increases [104]. Major Refining Companies - The stock performance of six major refining companies was tracked, with notable changes in their stock prices over the past week and month [124]. - The report indicates that the refining index has increased by 41.24% since September 4, 2017, outperforming the broader market indices [125].

关于 恒逸石化股份有限公司 法律意见书 浙江天册律师事务所 法律意见书 浙江省杭州市杭大路 1 号黄龙世纪广场 A 座 11 楼 310007 电话：0571-87901111 传真：0571-87901500 法律意见书 浙江天册律师事务所 关于恒逸石化股份有限公司 法律意见书 编号：TCYJS2025H1475 号 致：恒逸石化股份有限公司 浙江天册律师事务所（以下简称"本所"）接受恒逸石化股份有限公司（以 下简称"恒逸石化" 或"公司"）的委托，指派本所律师参加贵公司 2025 年第二 次临时股东大会，并根据《中华人民共和国证券法》以下简称（"证券法"）、 《中华人民共和国公司法》（以下简称"公司法"）和中国证券监督管理委员会 关于《上市公司股东会规则》（以下简称"《股东会规则》"）等法律、法规和 其他有关规范性文件的要求出具本法律意见书。 在本法律意见书中，本所律师仅对本次股东大会表决程序及表决结果的合法 有效性发表意见，不对会议所审议的议案内容和该等议案中所表述的事实或数据 的真实性和准确性发表意见。 本法律意见书仅供 2025 年第二次临时股东大会之目的使用。本所律师同意将 本法律意见书随恒逸石化 ...

Meeting Overview - The company held its second extraordinary general meeting of shareholders for 2025 on September 3, 2025, using a combination of on-site and online voting [1][2] - The meeting was attended by 166 shareholders and representatives, with 165 participating via online voting, representing 2,115,733,202 shares or 64.11% of the total voting shares [2][3] Resolutions Passed - The following resolutions were approved during the meeting: - **Change of Registered Capital, Address, and Business Scope**: This resolution was passed with 2,099,782,355 votes in favor, accounting for 99.2461% of the valid votes [3][4] - **Establishment, Revision, and Abolition of Company Regulations**: This resolution received 2,099,831,155 votes in favor, representing 99.2484% of the valid votes [4][5] - **Approval of Estimated Daily Related Transactions for 2025**: This resolution was passed with 263,266,815 votes in favor, which is 99.6860% of the valid votes [14][15] Voting Results - The voting results for the resolutions were as follows: - For the change of registered capital, 15,726,747 votes were against, and 224,200 votes were abstained [3][4] - For the establishment of regulations, 15,896,847 votes were against, and 5,300 votes were abstained [4][5] - For the related transactions, 823,995 votes were against, and 5,357 votes were abstained [14][15] Legal Opinion - The legal opinion stated that the meeting's convening and voting procedures complied with legal and regulatory requirements, confirming the validity of the voting results [16]

附件 职工代表董事简历： 证券代码：000703 证券简称：恒逸石化 公告编号：2025-094 恒逸石化股份有限公司 恒逸石化股份有限公司（以下简称"公司"）于2025年9月3日召开了公司2025 年第一次职工代表大会，经会议表决，选举罗丹女士为公司第十二届董事会职工代表 董事，任期自本次职工代表大会选举通过之日起至公司第十二届董事会届满之日止。 罗丹女士简历见附件。 罗丹女士担任职工代表董事之后，不再担任非职工代表董事，公司第十二届董事 会成员不变。本次选举职工代表董事工作完成后，公司第十二届董事会中兼任公司高 级管理人员以及由职工代表担任的董事人数总计未超过公司董事总数的二分之一。 特此公告。 恒逸石化股份有限公司董事会 本公司及其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。 罗丹，女，1983 年 9 月出生，中国国籍，浙江农林大学本科、武汉理工大学硕 士。曾任恒逸石化股份有限公司综合管理中心综合部经理，现任恒逸石化股份有限公 司投资管理部总经理。 截至本公告披露日，罗丹女士未持有公司股份，与公司控股股东、实际控制人、 持股 5%以上股东及公司其他董事、高级 ...

Core Points - Hengyi Petrochemical Co., Ltd. is a publicly listed company established in accordance with the Company Law of the People's Republic of China, with a registered capital of RMB 3,602,618,009 [2][3] - The company aims to enhance operational management and core competitiveness while promoting environmental protection and employee welfare [4] - The company has a diverse business scope, including the production of chemical products, petroleum products, synthetic materials, and investment activities [4][5] Company Structure - The company is a permanent corporation, and its legal representative is the board member executing company affairs [2][3] - Shareholders are liable for the company's debts only to the extent of their subscribed shares, while the company is liable for its debts with its entire assets [2][3] - The company has issued a total of 3,602,618,009 shares, all of which are ordinary shares [5][6] Share Issuance and Management - The company follows principles of openness, fairness, and justice in share issuance, ensuring equal rights for each share of the same category [6][7] - The company can increase its capital through various methods, including issuing shares to unspecified or specific objects, distributing bonus shares, and converting bonds into shares [6][7] - The company is restricted from repurchasing its shares except under specific circumstances, such as reducing registered capital or employee stock plans [7][8] Shareholder Rights and Responsibilities - Shareholders have rights to dividends, attend meetings, supervise company operations, and request information [11][12] - Shareholders must comply with laws and the company's articles of association, and they are liable for damages caused by abusing their rights [15][42] - The company must maintain transparency and provide necessary conditions for shareholders to exercise their rights [11][12] Governance and Meetings - The company holds annual and temporary shareholder meetings, with specific procedures for convening and conducting these meetings [20][24] - The board of directors is responsible for convening meetings and must ensure compliance with legal and regulatory requirements [22][23] - Shareholders holding more than 10% of shares can request the board to convene a temporary meeting [24][25]

（文章来源：证券日报） 证券日报网讯 9月3日晚间，恒逸石化发布公告称，公司2025年第二次临时股东大会于2025年9月3日召 开，审议通过了《关于变更注册资本、住所、经营范围并修订的议案》等多项议案。 ...

Core Viewpoint - Hengyi Petrochemical announced the election of Ms. Luo Dan as the employee representative director of the company's 12th board of directors during the first employee representative meeting held on September 3, 2025 [2] Group 1 - The employee representative meeting took place on September 3, 2025 [2] - Ms. Luo Dan was elected as the employee representative director [2] - The term for the newly elected director will last until the end of the 12th board's term [2]

（已经公司2025年第二次临时股东大会审议通过） 章程 （2025年9月修订） 2025年9月 | | | | | | 恒逸石化股份有限公司 第二条 公司系依照《公司法》和其他有关规定成立的股份有限公司（以下 简称"公司"）。 公司经广西壮族自治区经济体制改革委员会"桂体改［1990］3号"文件批复同 意，以募集方式设立；公司现时在中国—马来西亚钦州产业园区行政审批局注册登 记，统一社会信用代码9145050019822966X4。 第三条 1990年2月26日，经中国人民银行广西壮族自治区分行批准（桂银复字 [1990]第27号文），公司首次向社会公众发行人民币普通股4800万股，其中发起人法 人股1200万股，社会公众股3600万股。 1997年3月28日，经中国证券监督管理委员会（以下简称"中国证监会"）的批 准，公司发行的社会公众股（3600万股）在深圳证券交易所（以下简称"深交所"）挂 牌上市。 第四条 公司注册名称： 中文名称：恒逸石化股份有限公司 英文名称：HENGYI PETROCHEMICAL CO.,LTD. 第五条 公司住所：钦州市钦州港临海大道68号 邮政编码：536000 恒逸石化公 ...