证券代码：000703 证券简称：恒逸石化 公告编号：2025-084 恒逸石化股份有限公司 2025 年半年度募集资金存放、管理与实际使用情况的专项报告 根据中国证监会发布的《上市公司募集资金监管规则》和深圳证券交易所发 布的《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作 （2025 年修订）》等有关规定，恒逸石化股份有限公司（以下简称"公司"或"本 公司"）董事会编制了截至 2025 年 6 月 30 日止的募集资金半年度存放与实际使 用情况的专项报告。 一、募集资金基本情况 1．实际募集资金金额、资金到位时间 2022 年 3 月 17 日，经中国证券监督管理委员会《关于核准恒逸石化股份 有限公司公开发行可转换公司债券的批复》（证监许可[2022]565 号）的核准， 本公司向社会公开发行面值总额 30 亿元可转换公司债券，期限 6 年。 | | | | | 金额单位：人民币万元 | | | --- | --- | --- | --- | --- | --- | | 项目 | | | | | 募集资金发生额 | | 募集资金净额 | | | | | 298,367.92 | | ...

股票简称：恒逸石化 股票代码：000703 恒逸石化股份有限公司 第四期员工持股计划 1 （草案） （修订稿） 二零二五年八月 声明 本公司及董事会全体成员保证本次员工持股计划内容真实、准确和完整，不 存在虚假记载、误导性陈述或重大遗漏，并对其内容的真实性、准确性和完整性 承担个别和连带的法律责任。 风险提示 （一）恒逸石化股份有限公司（以下简称"恒逸石化"、"公司"或"本公司"） 第四期员工持股计划须经公司股东会批准后方可实施，本次员工持股计划能否获 得公司股东会批准，存在不确定性； （二）本员工持股计划设立后将由公司持股计划管理委员会管理，但能否达 到计划规模、目标存在不确定性。 （三）有关本次员工持股计划的具体的资金来源、出资金额、实施方案等属 初步结果，能否完成实施，存在不确定性。 （四）若员工认购资金较低时，本员工持股计划存在不成立的风险；若员工 出资额不足，本期员工持股计划存在低于预计规模的风险。 （五）敬请广大投资者谨慎决策，注意投资风险。 2 特别提示 本部分内容中的词语检查与"释义"部分保持一致。 本员工持股计划完成后，恒逸石化全部有效员工持股计划所持有的股票总数 累计将不超过公司股本总额的 ...

恒逸石化股份有限公司 董事、高级管理人员离职管理制度 第一章 总则 第一条 为规范恒逸石化股份有限公司（以下简称"公司"）董事、高级 管理人员离职程序，保障公司治理稳定性及股东合法权益，根据《中华人民共和 国公司法》《中华人民共和国证券法》《上市公司章程指引》《深圳证券交易所 股票上市规则》《深圳证券交易所上市公司自律监管指引第1号——主板上市公 司规范运作》《上市公司治理准则》等法律、行政法规、部门规章、规范性文件、 深圳证券交易所（以下简称"深交所"）业务规则（以下简称"适用法律"）和 《恒逸石化股份有限公司章程》（以下简称"《公司章程》"）的有关规定，制 定本制度。 第二条 本制度适用于公司董事（含独立董事）及高级管理人员的辞任、 任期届满、被解除职务等离职情形。 第三条 公司董事、高级管理人员离职管理应遵循以下原则： （一）合法合规原则：严格遵守适用法律规定及《公司章程》的要求； （二）公开透明原则：及时、准确、完整地披露董事、高级管理人员离职相 关信息； （三）平稳过渡原则：确保董事、高级管理人员离职不影响公司正常经营和 治理结构的稳定性； （二）审计委员会成员辞职导致审计委员会成员低于法定最低人数 ...

关于召开 2025 年第二次临时股东大会的通知 本公司及董事会全体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。 证券代码：000703 证券简称：恒逸石化 公告编号：2025-087 恒逸石化股份有限公司 根据《中华人民共和国公司法》（以下简称"《公司法》"）和《公司章程》相 关规定，恒逸石化股份有限公司（以下简称"公司"或"恒逸石化"）于 2025 年 8 月 15 日召开公司第十二届董事会第二十六次会议，审议通过了《关于召开 2025 年第二次临时股东大会的议案》，决定于 2025 年 9 月 3 日（星期三）下午 14:30 召开 2025 年第二次临时股东大会。现将会议相关事项通知如下： 一、召开会议基本情况 1．股东大会届次：2025 年第二次临时股东大会 2．股东大会的召集人：公司董事会 3．会议召开的合法、合规性：本次股东大会的召开经第十二届董事会第二 十六次会议审议通过，会议的召集、召开程序符合有关法律、行政法规、部门规 章、规范性文件、深交所业务规则和公司章程等的规定。 4．会议召开的日期和时间： （1）现场会议时间：2025 年 9 月 3 日（星期三）下午 ...

证券代码：000703 证券简称：恒逸石化 公告编号：2025-082 恒逸石化股份有限公司 第十二届监事会第十八次会议决议公告 本公司及监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、监事会会议召开情况 恒逸石化股份有限公司（以下简称"公司"或"恒逸石化"）第十二届监事 会第十八次会议通知于 2025 年 8 月 5 日以通讯、网络或其他方式送达公司全体 监事，并于 2025 年 8 月 15 日以现场加通讯方式召开。本次会议应出席的监事 3 人，实际出席会议的监事 3 人。 会议由监事会主席李玉刚先生主持，本次会议的召开符合《中华人民共和国 公司法》（以下简称"《公司法》"）等法律、行政法规、部门规章、规范性文件及 《公司章程》的有关规定。 二、监事会会议审议情况 经与会监事认真审议，充分讨论，以记名投票方式逐项表决，会议审议通过 了以下议案： 1、审议通过《<2025 年半年度报告>全文及其摘要的议案》 经审核，公司募集资金的存放、管理与实际使用符合中国证监会、深圳证券 1 交易所关于上市公司募集资金存放、管理与使用的相关规定，符合公司《募集资 金管理制度》 ...

证券代码：000703 证券简称：恒逸石化 公告编号：2025-081 恒逸石化股份有限公司 第十二届董事会第二十六次会议决议公告 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。 一、董事会会议召开情况 恒逸石化股份有限公司（以下简称"公司"或"恒逸石化"）第十二届董事 会第二十六次会议通知于 2025 年 8 月 5 日以通讯、网络或其他方式送达公司全 体董事，并于 2025 年 8 月 15 日以现场加通讯方式召开。会议应出席的董事 9 人，实际出席会议的董事 9 人。 会议由董事长邱奕博先生主持，本次董事会会议的召开符合《中华人民共和 国公司法》等法律、行政法规、部门规章、规范性文件及《公司章程》的有关规 定。 二、董事会会议审议情况 经与会董事认真审议，充分讨论，以记名投票方式逐项表决，会议审议通过 了以下议案： 1、审议通过《<2025 年半年度报告>全文及其摘要的议案》 董事会审议通过了《2025 年半年度报告》全文及其摘要，具体内容详见 2025 年 8 月 19 日刊登在《中国证券报》《上海证券报》《证券时报》《证券日报》和巨 潮资讯网（htt ...

Part I [Important Notice](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The Board of Directors, Supervisory Board, and senior management guarantee the semi-annual report's truthfulness, accuracy, and completeness, with the company planning no interim dividend distribution or capital increase from reserves - The Board of Directors, Supervisory Board, and senior management guarantee the semi-annual report's truthfulness, accuracy, and completeness, assuming individual and joint legal responsibility[5](index=5&type=chunk) - Company head Qiu Yibo, chief accountant Zheng Xingang, and head of accounting Gong Yanhong declare the financial report's truthfulness, accuracy, and completeness[5](index=5&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the semi-annual period[7](index=7&type=chunk) [Table of Contents](index=3&type=section&id=%E7%9B%AE%E5%BD%95) The report's table of contents clearly lists eight main chapters covering company overview, management discussion, corporate governance, significant matters, share changes, bond information, and financial reports, along with a list of reference documents - The report's table of contents includes eight main chapters, such as company profile and key financial indicators, management discussion and analysis, corporate governance, environment and society, significant matters, share changes and shareholder information, bond-related information, and financial reports[9](index=9&type=chunk) - The list of reference documents includes financial statements signed by the company head, chief accountant, and head of accounting, along with originals of all publicly disclosed company documents and announcements during the reporting period[11](index=11&type=chunk)[12](index=12&type=chunk) [Definitions](index=5&type=section&id=%E9%87%8A%E4%B9%89) This section defines common terms used in the report, including company names, related parties, project names, and professional petrochemical and chemical fiber product terms like PX, PTA, PET, and CPL, ensuring accurate understanding of the report's content - Definitions cover the company name (Hengyi Petrochemical), affiliated companies (Hengyi Group, Hengyi Brunei, etc.), and key projects (Brunei Refinery and Petrochemical Project, Guangxi New Materials Project)[13](index=13&type=chunk)[14](index=14&type=chunk) - Key product terms include paraxylene (PX), purified terephthalic acid (PTA), polyethylene terephthalate (PET), caprolactam (CPL), and their uses are explained[14](index=14&type=chunk)[15](index=15&type=chunk) - The reporting period is defined as January 1, 2025, to June 30, 2025[15](index=15&type=chunk) Part II [Company Profile](index=8&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B) Hengyi Petrochemical Co., Ltd., stock code 000703, is listed on the Shenzhen Stock Exchange, with Qiu Yibo as its legal representative and its contact address in Xiaoshan District, Hangzhou, Zhejiang Province Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | Hengyi Petrochemical | | Stock Code | 000703 | | Listing Exchange | Shenzhen Stock Exchange | | Chinese Name | Hengyi Petrochemical Co., Ltd. | | Legal Representative | Qiu Yibo | - The company's Board Secretary is Zheng Xingang, Securities Affairs Representative is Zhao Guanshuang, contact number is (0571) 83871991, and email is hysh@hengyi.com[18](index=18&type=chunk) [Key Accounting Data and Financial Indicators](index=9&type=section&id=%E5%9B%9B%E3%80%81%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) In H1 2025, the company's operating revenue decreased by 13.59% to **55.96 billion yuan**, net profit attributable to shareholders fell sharply by 47.32% to **227 million yuan**, and net cash flow from operating activities turned negative, decreasing by 286.42%, while total assets grew by 2.09% and net assets attributable to shareholders slightly declined by 0.46% Key Accounting Data and Financial Indicators for H1 2025 | Indicator | Current Period (yuan) | Prior Period (yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 55,960,017,549.87 | 64,764,047,386.81 | -13.59% | | Net Profit Attributable to Shareholders of Listed Company | 226,681,667.52 | 430,314,446.67 | -47.32% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains and Losses) | 149,434,296.60 | 230,594,151.74 | -35.20% | | Net Cash Flow from Operating Activities | -181,470,495.48 | 97,347,579.58 | -286.42% | | Basic Earnings Per Share (yuan/share) | 0.07 | 0.13 | -46.15% | | Diluted Earnings Per Share (yuan/share) | 0.07 | 0.13 | -46.15% | | Weighted Average Return on Net Assets | 0.92% | 1.70% | -0.78% | | **Period-End Indicators** | **Current Period-End (yuan)** | **Prior Year-End (yuan)** | **Change from Prior Year-End** | | Total Assets | 109,770,964,454.63 | 107,528,828,060.12 | 2.09% | | Net Assets Attributable to Shareholders of Listed Company | 24,629,002,443.17 | 24,742,051,837.12 | -0.46% | [Differences in Accounting Data under Domestic and Overseas Accounting Standards](index=9&type=section&id=%E4%BA%94%E3%80%81%E5%A2%83%E5%86%85%E5%A4%96%E4%BC%9A%E8%AE%A1%E5%87%86%E5%88%99%E4%B8%8B%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%B7%AE%E5%8F%82) During the reporting period, the company reported no differences in net profit and net assets between financial statements disclosed under international or overseas accounting standards and those under Chinese accounting standards - The company reported no differences in net profit and net assets between financial statements disclosed under International Accounting Standards and Chinese Accounting Standards during the reporting period[23](index=23&type=chunk) - The company reported no differences in net profit and net assets between financial statements disclosed under overseas accounting standards and Chinese Accounting Standards during the reporting period[25](index=25&type=chunk) [Non-recurring Gains and Losses and Amounts](index=10&type=section&id=%E5%85%AD%E3%80%81%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%8A%E5%8F%8A%E9%87%91%E9%A2%9D) The company's total non-recurring gains and losses for H1 2025 amounted to **77.25 million yuan**, primarily comprising government subsidies, fair value changes, and non-recurring gains and losses attributable to investees within investment income from associates/joint ventures Non-recurring Gains and Losses for H1 2025 | Item | Amount (yuan) | | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | -1,854,684.50 | | Government Grants Recognized in Current Profit or Loss | 32,511,751.68 | | Gains/Losses from Fair Value Changes and Disposal of Financial Assets and Liabilities | 22,311,197.36 | | Reversal of Impairment Provision for Accounts Receivable Subject to Separate Impairment Testing | 426,220.28 | | Custody Fee Income from Entrusted Operations | 849,056.58 | | Other Non-operating Income and Expenses Apart from the Above | 1,800,267.61 | | Other Gains/Losses Meeting the Definition of Non-recurring Gains and Losses | 30,126,215.94 | | Less: Income Tax Impact | -4,692,668.55 | | Impact of Minority Interests (After Tax) | 13,615,322.58 | | Total | 77,247,370.92 | - Other non-recurring gains and losses primarily represent non-recurring gains and losses attributable to investees within investment income from significant associates and joint ventures accounted for using the equity method, totaling **30.13 million yuan**[28](index=28&type=chunk) Part III [Company's Main Business Activities During the Reporting Period](index=11&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1) Hengyi Petrochemical, a global leader in integrated "refining-chemical-fiber" operations, pursues a "one drop of oil, two strands of fiber" strategy, achieving full-chain closure via the Brunei project and developing a "polyester + nylon" dual-core business model, while accelerating its "Technological Hengyi" strategy to become a world-class private multinational industrial group - The company's strategic positioning is "one drop of oil, two strands of fiber," achieving a full industrial chain closed-loop from crude oil processing to chemical fiber products through the Brunei refining and petrochemical project, forming a "polyester + nylon" dual-core business model[31](index=31&type=chunk) - The company is accelerating its "Technological Hengyi" strategy, establishing an independent intellectual property system around core business systems, and promoting high-value-added product R&D, green and low-carbon upgrades, and digital and intelligent construction[33](index=33&type=chunk)[34](index=34&type=chunk) [Main Business Overview](index=12&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1%E6%A6%82%E8%BF%B0) The company primarily engages in petrochemical and chemical fiber businesses, evolving into an integrated "refining-chemical-fiber" private multinational leader with products spanning refined oil, basic petrochemical raw materials, and new polyester materials, while also empowering its main business through "petrochemical+" services like supply chain management and long-term equity investments - The company has established a design refining and petrochemical capacity of **8 million tons/year** (Brunei Refining and Petrochemical Project Phase I), a PTA holding/participating capacity of **21.5 million tons/year**, a polymerization holding/participating capacity of **13.25 million tons/year**, a PIA design capacity of **0.3 million tons/year**, and a caprolactam participating capacity of **0.4 million tons/year**[36](index=36&type=chunk) Company's Main Products Current Production Capacity (million tons/year) | Category | Product | Holding/Participating Capacity (million tons/year) | | :--- | :--- | :--- | | Refined Oil Products | Gasoline, Diesel, Jet Fuel, etc. | 5.65 | | Chemical Products | PX, Benzene, etc. | 2.65 | | | PTA | 21.50 | | | PIA | 0.30 | | | CPL | 0.40 | | Polyester Products | Polyester Filament (incl. Polyester Chips) | 6.77 | | | Polyester Staple Fiber | 1.18 | | | Polyester Bottle Chips (incl. RPET) | 5.30 | - The company builds a resilient supply chain system through a "three-in-one" strategy, encompassing collaborative management, logistics development, and technological empowerment, achieving increased online transactions, reduced transportation costs, and shortened response cycles[40](index=40&type=chunk) - Regarding long-term equity investments, the company holds shares in Zheshang Bank, which has developed into a well-established and profitable "A+H" listed bank, generating investment income for the company[41](index=41&type=chunk) [Operating Model](index=14&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E7%BB%8F%E8%90%A5%E6%A8%A1%E5%BC%8F) The company's operating model remained unchanged during the reporting period, with details available in its 2023 Annual Report - The company's operating model did not undergo significant changes during the reporting period; for details, please refer

Group 1 - The first PTA bonded delivery by Yisheng Petrochemical's subsidiary Yisheng Dahua and ITG is set to take place in September 2025, facilitating smoother cross-border transactions and integrating the Zhengzhou futures market with the global industrial chain [1] - The introduction of the export-type bonded delivery system by Zhengzhou Commodity Exchange has significantly reduced participation costs for foreign enterprises, attracting more international players to engage in PTA futures trading [2][4] - As of the end of 2024, over 700 foreign traders from more than 30 countries and regions have opened accounts to participate in specific trading at Zhengzhou Commodity Exchange, indicating a growing international interest [3] Group 2 - The PTA futures market has enhanced the international trade experience for companies by providing benchmark pricing, improving negotiation power, and ensuring efficient and transparent international deliveries [2] - Companies like Wan Kai New Materials have established a mature cooperation loop with South American clients, utilizing the Zhengzhou futures prices to lock in raw material costs and streamline export processes [2] - The growth of foreign participation in the PTA market has not only increased trading volumes but also reshaped the market ecosystem, leading to a more stable polyester market [3] Group 3 - The futures market has enabled Chinese companies to expand internationally, with firms like Wan Kai New Materials and Xiamen Guomao Petrochemical significantly increasing their production capacities and export volumes since 2018 [4][6] - The introduction of futures tools has allowed companies to manage risks across the entire supply chain, as seen with New Fengming Group's expansion in polyester production and export [5] - Yisheng Petrochemical has grown from a PTA producer with a capacity of 12.2 million tons to the world's largest with a capacity of 21.9 million tons, highlighting the transformative impact of futures trading on business models [6] Group 4 - The future outlook for the Zhengzhou futures market includes the expectation of incorporating more varieties and delivery points into the international framework, promoting global industrial chain collaboration [7]

Investment Rating - The report maintains a "Recommended" rating for the basic chemical industry [1] Core Insights - The report highlights the price increases of lithium carbonate and photoinitiators, suggesting a potential recovery in the chemical industry driven by anti-involution trends [1] - The basic chemical sector has shown strong relative performance, with a 39.4% increase over the past 12 months compared to the 25.7% increase in the CSI 300 index [3] Summary by Sections Recent Trends - The report notes a decline in the Guohai Chemical Prosperity Index to 92.75 as of August 14, 2025, down 0.11 from August 7, 2025 [4] Investment Recommendations - Key opportunities identified include: 1. Low-cost expansion in companies such as Wanhua Chemical, Satellite Chemical, and others [5] 2. Improvement in industry prosperity for chromium salts, phosphate rock, and various chemical sectors [6] 3. Focus on new materials with high growth potential and low domestic substitution rates [7] 4. High dividend opportunities in state-owned enterprises like China Petroleum and Sinopec [8] Price Analysis of Key Products - Industrial-grade lithium carbonate price increased by 9.93% to 83,000 CNY/ton [10] - Photoinitiator (TPO) price rose by 5.56% to 95 CNY/kg [10] - Polyester filament price increased by 2.16% to 7,100 CNY/ton [10] Company Performance Tracking - Notable companies such as Zhenhua Co. reported a 10.17% increase in revenue for the first half of 2025 [13] - Wanhua Chemical's pure MDI price was reported at 17,900 CNY/ton, with a slight increase [11] Market Observations - The report indicates a potential inventory replenishment cycle in the chemical sector due to anticipated fiscal policy support in China and the US [29]

Refining Projects - Domestic refining project price spread this week is 2601 CNY/ton, up by 97 CNY/ton (4% week-on-week) [2] - International refining project price spread this week is 1110 CNY/ton, up by 11 CNY/ton (1% week-on-week) [2] Polyester Sector - Average prices for POY, FDY, and DTY are 6729, 7043, and 7929 CNY/ton respectively, with week-on-week changes of +4, +32, and -4 CNY/ton [2] - Weekly profits for POY, FDY, and DTY are 16, -40, and -50 CNY/ton respectively, with week-on-week changes of -2, +17, and -6 CNY/ton [2] - Inventory days for POY, FDY, and DTY are 16.1, 23.3, and 28.2 days respectively, with week-on-week changes of -3.6, -2.4, and -1.8 days [2] - The operating rate for polyester filament is 90.6%, down by 0.6 percentage points week-on-week [2] Oil and Chemical Sector - PX average price this week is 832.1 USD/ton, down by 6.6 USD/ton, with a price spread against crude oil of 347.9 USD/ton, up by 3.3 USD/ton [2] - Domestic gasoline and diesel prices have decreased this week [2] - The operating rate for PX is 82.9%, up by 0.6 percentage points week-on-week [2] Risks - Potential delays in project implementation [2] - Slower-than-expected recovery in demand due to macroeconomic slowdown [2] - Geopolitical risks leading to fluctuations in raw material prices [2]