Core Viewpoint - Salt Lake Potash (000792) announced on August 18 that it signed a project cooperation letter of intent with Highfield Resources Limited, Yancoal Energy Group Co., Ltd., and EMR Capital, intending to invest approximately $300 million to acquire ordinary shares of Highfield Resources, aiming to become its largest shareholder and gain control over certain projects [1] Group 1 - The company intends to invest around $300 million in Highfield Resources to become its largest shareholder [1] - The agreement includes governance arrangements to gain actual control over Yancoal Canada Resources Ltd., Highfield Resources, and its subsidiaries, including the Southey potash project and the Muga project [1] - Following the signing of the letter of intent, the company established a dedicated working group to conduct due diligence in areas such as resources, technology, and legal aspects [1] Group 2 - After comprehensive evaluation, the company determined that the conditions for advancing the project cooperation were not mature at this stage [1] - The company has prudently decided to terminate the project cooperation matter [1]

Group 1 - The company announced the termination of the project cooperation letter of intent with Highland Resources, Yancoal Energy, and EMR Capital [1] - The company previously intended to invest approximately $300 million in ordinary shares of Highland Resources to become its largest shareholder and gain control [1] - A dedicated working group was established to conduct due diligence in areas such as resources, technology, and legal aspects [1] Group 2 - After comprehensive evaluation, the company concluded that the conditions for advancing the project cooperation were not mature at this stage [1] - The decision to terminate the cooperation is made to protect the interests of the company and all shareholders [1] - The termination of this cooperation will not adversely affect the company's financial status or operational performance [1]

格隆汇8月18日｜盐湖股份公告，公司与高地资源、兖矿能源及EMR资本签署的《项目合作意向书》终 止。公司原计划以3亿美元左右现金认购高地资源发行的普通股，成为其最大股东并取得控制权。经综 合评估，现阶段推进该项目合作条件尚不成熟，决定终止合作。此次合作终止不会对公司财务状况和生 产经营产生不利影响。 ...

Core Viewpoint - Yanzhou Coal Mining Company Limited (兖矿能源) has signed an "Implementation Agreement" and "Equity Subscription Agreement" with Highfield Resources Limited, indicating a strategic investment move to acquire new shares through asset injection and cash subscription [1] Group 1 - The agreement with Highfield Resources is set to be executed on September 23, 2024, highlighting a future commitment to the partnership [1] - Highfield Resources has entered into a non-binding memorandum of understanding with Qinghai Salt Lake Industry Co., Ltd. and EMR Capital, which involves a cash subscription of approximately $300 million to become the largest shareholder of Highfield Resources [1] - Qinghai Salt Lake has notified Yanzhou Coal Mining that it will not proceed with the subscription transaction outlined in the memorandum of understanding [1]

签署意向书后，公司成立专门工作组开展了资源、技术、法律等方面境外实 地踏勘尽调工作。经公司综合评估，公司认为现阶段推进该项目合作的条件尚不 成熟。为维护公司及全体股东利益，现审慎决定终止本次项目合作事项。 二、对公司的影响 公司与相关各方签署《项目合作意向书》及相关意见，是基于合作意愿签署 的框架性、意向性的文件，各方并未就本次合作项目签署正式合作协议文件。本 次项目合作的终止不会对公司财务状况和生产经营产生不利影响，不存在损害公 司和中小股东利益的情形。 证券代码：000792 证券简称：盐湖股份 公告编号：2025-048 青海盐湖工业股份有限公司 关于项目合作意向的进展公告 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、项目合作意向概述及进展情况 2025 年 5 月 12 日，公司披露《关于签署项目合作意向书的公告》（公告 编号：2025-031），与 Highfield Resources Limited（以下简称"高地资源"）、兖矿 能源集团股份有限公司及 EMR 资本签署了《项目合作意向书》。公司有意向以 3 亿美元左右现金认购高地资源发行 ...

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]

Group 1 - The company plans to change its financial statement and internal control audit institution for the year 2025 from Da Xin Certified Public Accountants to Tianzhi International Certified Public Accountants [1][2][3] - The change is in accordance with the requirements of the State-owned Assets Supervision and Administration Commission regarding the management rules for financial statement audits of central enterprises [3][16] - The audit committee and board of directors have no objections to the proposed change of the accounting firm [4][18] Group 2 - Tianzhi International Certified Public Accountants was established in December 1988 and has 90 partners and 1,097 registered accountants as of December 31, 2024 [5][6] - The firm reported a total audited revenue of 2.501 billion yuan for 2024, with audit service revenue of 1.938 billion yuan [7] - Tianzhi International has a history of no civil liability due to professional conduct in the past three years [9] Group 3 - The audit fee for the 2025 fiscal year is set at 3.42 million yuan, which includes 2.62 million yuan for annual report auditing and 800,000 yuan for internal control auditing [15] - The previous auditor, Da Xin Certified Public Accountants, provided standard unqualified opinions for the financial reports and internal control evaluations from 2019 to 2024 [16][18] Group 4 - The company plans to increase the expected amount of daily related transactions for 2025 with China Minmetals, China Salt Lake, and Sinochem Fertilizer due to actual business development needs [24][29] - The proposed increases in transaction limits are 264 million yuan, 977 million yuan, and 138 million yuan respectively [24] - The independent directors have unanimously agreed that the daily related transactions are necessary for normal business operations and do not harm the interests of the company and its shareholders [32][81]

青海盐湖工业股份有限公司 股东会议事规则 （二〇二五年八月） 第一章 总则 第一条 为保证青海盐湖工业股份有限公司股东会能够依法行使 职权，根据《中华人民共和国公司法》（以下简称"《公司法》"）《中 华人民共和国证券法》（以下简称"《证券法》"）《上市公司章程指引》 《上市公司股东会规则》等相关法律法规及《青海盐湖工业股份有限 公司章程》（以下简称"公司章程"）的规定，制定本规则。 第二条 公司应当严格按照法律、行政法规、本规则及《公司章 程》的相关规定召开股东会，保证股东能够依法行使权利。 公司董事会应当切实履行职责，认真、按时组织股东会。公司全 体董事应当勤勉尽责，确保股东会正常召开和依法行使职权。 第二章 股东会的一般规定 第三条 公司股东会由全体股东组成。股东会是公司的权力机构， 依法行使下列职权： （一）选举和更换董事，决定有关董事的报酬事项； （二）审议批准董事会的报告； （三）审议批准公司的利润分配方案和弥补亏损方案； （四）对公司增加或者减少注册资本作出决议； （五）对发行公司债券作出决议； （六）对公司合并、分立、解散、清算或者变更公司形式作出决 议； （七）修改公司章程议事规则； （八）对 ...

（二〇二五年八月） 青海盐湖工业股份有限公司 董事会议事规则 第四条 公司设董事会，对股东会负责。董事会行使法律规定的 职权，公平对待所有股东。 公司设立董事会办公室作为董事会常设工作机构，负责筹办董事 会会议，办理董事会日常事务，与董事沟通信息，为董事开展工作提 供帮助、服务等。公司设董事会秘书 1 名，列席董事会会议。公司可 以根据实际情况确定董事会办公室与其他部门合署办公。 第五条 董事会由 13 名董事组成，其中由职工代表担任的董事 1 人。董事会设董事长 1 人，副董事长 2 人。董事长和副董事长由董 事会以全体董事的过半数选举产生。其中，董事长由董事会在公司控 股股东推荐的董事候选人中选举产生。董事长和其他董事在董事会中 的地位平等。 公司董事应该具备相关专业能力，如化工、财务、法律、战略、 资本运营等。 公司董事会设立独立董事 5 名，至少 1 名应为具有高级职称或注 册会计师资格的会计专业人士。独立董事除具有一般董事的职权外， 还具有法律、行政法规、中国证监会、证券交易所和公司章程所规定 的特别职权。 第一章 总则 第一条 为维护公司及公司股东的合法权益，明确董事会的职责 与权限、议事程序，确 ...

证券代码：000792 证券简称：盐湖股份 公告编号：2025-046 青海盐湖工业股份有限公司 关于增加 2025 年日常关联交易预计额度的公告 一、关联交易概述 （一）日常关联交易预计情况 青海盐湖工业股份有限公司（以下简称"公司"）九届董事会第九次会议和 2024 年年度股东大会审议通过了《关于 2025 年度预计日常关联交易的议案》。 （内容详见巨潮资讯网 2025 年 3 月 29 日《关于日常关联交易预计的公告》（公 告编号：2025-119））。 根据公司业务发展实际需求，2025 年与中国五矿、中国盐湖、中化化肥的 日常关联交易规模将超出前次审议额度。为保障主营业务持续稳定开展，确保与 上述关联方的合作顺应业务发展节奏、满足实际经营需要，依据公司关联交易相 关管理规定，拟对 2025 年度与三方的日常关联交易额度进行相应调整，具体增 加额度分别不超过 2.64 亿元、9.77 亿元、1.38 亿元。 （二）关联交易履行的审议程序 此议案经公司第九届董事会第十二次（临时）会议、九届监事会第十次（临 时）会议审议通过，公司关联董事侯昭飞、王祥文、张铁华、陈胜男回避表决， 根据《公司章程》规定，此议 ...