岳阳兴长第十六届董事会第十九次会议决议公告 证券代码：000819 证券简称：岳阳兴长 公告编号：2025-001 岳阳兴长石化股份有限公司 第十六届董事会第十九次会议决议公告 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。 一、董事会会议召开情况 公司第十六届董事会第十九次会议通知和资料于 2025 年 3 月 18 日以电子邮件 方式发出，会议于 2025 年 3 月 28 日上午 8:30 在惠州小径湾艾美酒店以现场会议方 式召开。会议应出席董事 11 人，实际出席董事 11 人。会议由董事长王妙云先生主 持，公司监事和高级管理人员列席了会议。会议的召开符合法律法规和《公司章程》 的规定，合法有效。 二、董事会会议审议情况 会议审议通过了如下报告、议案： （一）《2024 年度总经理工作报告》 表决结果：11 票同意、0 票反对、0 票弃权。 （二）《2024 年度董事会工作报告》 表决结果：11 票同意、0 票反对、0 票弃权。 本报告需提交股东大会审议。 具体内容详见同日披露于巨潮资讯网的《2024 年度董事会工作报告》。 （三）《2024 年度财务 ...

Dividend and Shareholder Information - The company plans to distribute a cash dividend of 1.00 yuan per 10 shares to all shareholders, based on a total of 369,697,506 shares[5]. - The company is a subsidiary of China Petroleum & Chemical Corporation, with a significant shareholder relationship[13]. - The company holds over 5% shares in several subsidiaries, including Yueyang Changlian Xingchang Zhaorui Petrochemical Co., Ltd.[13]. - The company is listed on the Shenzhen Stock Exchange under the stock code 000819[15]. - The company’s official website is http://www.yyxc0819.com/[15]. - The company’s annual report is disclosed on the Shenzhen Stock Exchange and various financial media[17]. - The company’s contact for investor relations is Zou Haibo, reachable at (0730)8829166[16]. Financial Performance - The company's operating revenue for 2024 reached ¥3,822,635,855, representing a 24.62% increase compared to ¥3,067,401,380 in 2023[20]. - Net profit attributable to shareholders decreased by 37.55% to ¥63,125,607.38 from ¥101,076,767.69 in the previous year[20]. - The net cash flow from operating activities significantly dropped by 79.33% to ¥34,467,241.5 from ¥166,771,139.68 in 2023[20]. - Basic and diluted earnings per share both fell by 50% to ¥0.17 from ¥0.34 in 2023[20]. - Total assets decreased by 9.72% to ¥3,071,313,950 from ¥3,402,086,390 in 2023[21]. - The net assets attributable to shareholders increased by 3.00% to ¥2,149,780,580 from ¥2,087,248,520 in the previous year[21]. - The company reported a total of ¥8,252,561.77 in non-recurring gains for 2024, compared to ¥3,354,044.73 in 2023[27]. Operational Overview - The company has not undergone any changes in its main business since its listing[18]. - The company has maintained its operational headquarters at Yueyang Changchang Building, Yueyang Avenue, Hunan Province[15]. - The company operates in the petrochemical industry, focusing on the development, production, and sales of chemical new materials and energy chemicals[30]. - The company is implementing new accounting policies effective January 1, 2024, which include changes related to the classification of current and non-current liabilities[22]. Market Trends and Industry Insights - The high-end polyolefin industry is projected to achieve a self-sufficiency rate of 70% by 2025, with a focus on breakthrough technologies such as metallocene polyolefins and polyolefin elastomers[31]. - The domestic high-end polyolefin consumption scale exceeds 12 million tons, with a self-sufficiency rate of only 41%, indicating a market potential for over 100 billion yuan in import substitution[41]. - The demand for high-performance polypropylene in the automotive sector is expected to grow at an annual rate exceeding 15%, driven by lightweight requirements for electric vehicles[43]. - The global demand for green polyolefins is increasing, with significant price premiums for recycled materials, as international brands commit to using recycled plastics[32]. - The domestic high-end polypropylene market is characterized by a competitive landscape dominated by foreign companies, with domestic production capacity around 1.5 million tons and demand nearing 4.5 million tons annually[41]. - The implementation of the "Three-Year Action Plan for Optimizing the Consumption Environment (2025-2027)" is expected to drive demand growth for polyolefins, alleviating supply-demand imbalances[37]. - The industry is witnessing a shift towards green and low-carbon technologies, with a focus on bio-based α-olefins and recyclable green polypropylene to significantly reduce carbon emissions[42]. Product Development and Innovation - The company has launched multiple high-end products, including isotactic polypropylene and hydrogenated melt-blown materials, and is progressing towards market introduction of green polypropylene[50]. - The company has established a full industry chain development model, achieving significant industry barriers and forming strategic partnerships for customized services[51]. - The company is continuously developing new technologies, products, and applications to promote the import substitution of high-end polyolefin products and upgrade downstream industries[93]. - The company has established a strategic layout for its new materials industry system, enhancing its leading position in the high-end polyolefin sector[93]. - The company is actively developing high-end polyolefin products and has made progress in various R&D projects, aiming to fill market gaps and enhance competitiveness[121]. Environmental and Regulatory Compliance - The company has received various environmental permits, including a hazardous chemicals operation license valid until 2027[89]. - The company has a safety production license and environmental management certifications, demonstrating its commitment to safety and environmental standards[91]. - The company is focusing on developing new technologies and products in the fields of energy conservation and environmental protection, aiming to strengthen its market position and industry influence[121]. Challenges and Risks - The company emphasizes the importance of risk awareness regarding forward-looking statements and future plans[5]. - The company has detailed potential risks in the "Management Discussion and Analysis" section of the report[5]. - The company is facing challenges from increased market competition and technological bottlenecks in the waste resource utilization sector, despite benefiting from supportive policies[67]. - The traditional refined oil sector is facing a decline due to the rapid development of electric vehicles, leading to increased competition and operational risks[199]. - The company is adopting a cautious approach to new business ventures, focusing on risk identification and management to ensure controlled operations[199]. Research and Development - Research and development expenses increased by 32.32% to approximately ¥72.54 million in 2024, reflecting the company's commitment to enhancing its R&D capabilities[120]. - The number of R&D personnel rose to 185 in 2024, a 120.24% increase from 84 in 2023, indicating a strong focus on innovation[122]. - The R&D investment as a percentage of operating revenue increased to 1.90% in 2024 from 1.79% in 2023[123]. - The number of R&D personnel with a bachelor's degree or above increased from 46 in 2023 to 92 in 2024, representing a growth of 100%[124]. - The number of R&D personnel under 30 years old surged from 29 in 2023 to 96 in 2024, indicating a significant trend towards a younger workforce[124]. Investment and Financial Management - The company made a significant equity investment of CNY 9.75 million in a new material manufacturing project, acquiring a 65% stake[137]. - The total investment in ongoing major non-equity projects reached CNY 1,013,859,170.05, with a cumulative actual investment of CNY 374.8 million[138]. - The company reported no securities investments during the reporting period[141]. - The company also reported no derivative investments during the reporting period[142]. - The cumulative use of raised funds was CNY 3,647 million, with a portion still unutilized[144]. Future Outlook and Strategic Plans - The company plans to invest in a 100,000 tons/year high-end polyolefin facility in Huizhou, expected to be completed by Q3 2025, to reduce raw material costs and improve product structure[177]. - The company is also developing an aromatic comprehensive utilization project in Yueyang, aimed at addressing regional overcapacity and market gaps[179]. - The new materials research institute's innovation base has been fully operational, conducting pilot tests on multiple self-developed technologies and establishing an engineering technology center for technology transfer[181]. - Over the next three to five years, the company aims to build a group management system, enhancing vertical and horizontal integration across its subsidiaries[182]. - The company will implement a cost control mechanism to maximize resource utilization and drive profitability, particularly through optimizing energy consumption and material costs[186].

岳阳兴长 2024 年度利润分配和资本公积金转增股本方案 证券代码：000819 证券简称：岳阳兴长 公告编号：2025-003 岳阳兴长石化股份有限公司 2024 年度利润分配和资本公积金转增股本方案 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： 公司披露现金分红方案后，不触及深圳证券交易所《股票上市规则》第 9.8.1 条规定的可能被实施其他风险警示情形。 一、审议程序 岳阳兴长石化股份有限公司（以下简称"公司"）于 2025 年 3 月 28 日召开第 十六届董事会第十九次会议、第十六届监事会第十六次会议，审议通过了《2024 年 度利润分配和资本公积金转增股本方案》，该方案尚需提交公司股东大会审议。 二、利润分配和资本公积金转增股本方案的基本情况 （一）基本内容 经天健会计师事务所(特殊普通合伙)审计，公司 2024 年实现归属于母公司所有 者的净利润为 63,125,607.38 元，加年初未分配利润 500,142,589.27 元，减当年度 股利分配 36,969,750.60 元，提取盈余公积 12,245,968.01 元，年度 ...

岳阳兴长关于提请股东大会授权董事会办理以简易程序向特定对象发行股票的公告 证券代码：000819 证券简称：岳阳兴长 公告编号：2025-010 岳阳兴长石化股份有限公司 关于提请股东大会授权董事会办理以简易程序 向特定对象发行股票的公告 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。 为落实公司发展规划，推进公司产业布局，充实公司资本，保障公司持续高质 量发展，根据《上市公司证券发行注册管理办法》《深圳证券交易所上市公司证券 发行上市审核规则》《深圳证券交易所上市公司证券发行与承销业务实施细则》等 相关规定，公司拟提请股东大会授权董事会决定向特定对象发行融资总额不超过人 民币 3 亿元且不超过最近一年末净资产 20%的股票，授权期限自 2024 年度股东大 会通过之日起至 2025 年度股东大会召开之日止，具体发行方案及实施将由董事会 根据公司的融资需求在授权期限内决定。具体如下： 一、本次发行的具体内容 1、发行股票的种类、数量和面值 岳阳兴长关于提请股东大会授权董事会办理以简易程序向特定对象发行股票的公告 发行对象均以现金方式认购。 3、定价方式或者价格 ...

Core Viewpoint - The company, Yueyang Xingchang, is experiencing a decline in stock price and has a high rolling price-to-earnings (PE) ratio compared to the industry average, indicating potential overvaluation in the context of its financial performance [1][2]. Company Overview - Yueyang Xingchang's main business includes the development, production, and sales of petrochemical products, as well as retail of refined oil products. Key products include propylene, MTBE, liquefied petroleum gas, industrial isooctane, metallocene polypropylene, ortho-cresol, gasoline, and diesel [1]. - The company has a production capacity of 33.5 million tons per year for oil blending components, making it a leading supplier in the Central and Southern regions of China [1]. Financial Performance - For the third quarter of 2024, the company reported a revenue of 2.919 billion yuan, a year-on-year increase of 29.59%. However, net profit was 72.471 million yuan, reflecting a year-on-year decrease of 1.52%. The gross profit margin stood at 17.52% [2]. - The rolling PE ratio is 61.32, significantly higher than the industry average of 12.01 and the median of 42.57, indicating a potential overvaluation of the company's stock [2]. Institutional Holdings - As of the third quarter of 2024, five institutions hold shares in Yueyang Xingchang, all of which are funds, with a total holding of 132,000 shares valued at 2 million yuan [1].

Group 1 - The core viewpoint of the news is that Yueyang Xingchang's stock has shown a slight increase, with a rolling P/E ratio of 63.43, which is significantly higher than the industry average [1][3] - As of September 30, 2024, the number of shareholders in Yueyang Xingchang has decreased to 19,407, with an average holding value of 352,800 yuan per shareholder [1] - The company operates in the petrochemical sector, focusing on the development, production, and sales of petrochemical products, with a leading position in the oil blending component supply in Central and Southern China [2] Group 2 - Yueyang Xingchang's latest financial results for Q3 2024 show a revenue of 2.919 billion yuan, a year-on-year decrease of 29.59%, and a net profit of 72.471 million yuan, reflecting a decline of 1.52% [2] - The company has a production capacity of 33.5 million tons per year for oil blending components and is involved in several projects in the chemical new materials sector, indicating a competitive advantage in the industry [2] - The average P/E ratio for the industry is 11.99, with a median of 44.42, highlighting Yueyang Xingchang's relatively high valuation compared to its peers [3]

岳阳兴长第七十次（临时）股东大会决议公告 证券代码：000819 证券简称：岳阳兴长 公告编号：2023-054 岳阳兴长石化股份有限公司 第七十次（临时）股东大会决议公告 本公司及董事会全体成员保证信息披露内容真实、准确、完整，没有虚假 记载、误导性陈述或者重大遗漏。 特别提示 1、本次股东大会未出现否决提案的情形； 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开情况 1、会议召开时间： （1）现场召开时间：2024 年 12 月 30 日（星期一）15：30 5、主持人：公司董事、总经理、党委书记付锋先生 6、本次股东大会的召集、召开与表决程序符合《中华人民共和国公司法》 《上市公司股东大会规则》《深圳证券交易所股票上市规则》等法律法规及规范 性文件以及《公司章程》的规定。 岳阳兴长第七十次（临时）股东大会决议公告 二、会议出席情况 1、股东出席的总体情况： 通过现场和网络投票的股东 151 人，代表股份 128,491,621 股，占公司有表 决权股份总数的 34.7559％。 其中：通过现场投票的股东 3 人，代表股份 366,000 股，占公司有表决权股 份总数的 0.0990％ ...

法律意见书 浙江天册（深圳）律师事务所 关于 岳阳兴长石化股份有限公司 第七十次（临时）股东大会的 法律意见书 中国广东省深圳市南山区科发路 19 号华润置地大厦 D 座 37 层 邮编：518057 电话：0755-83739000 传真：0755-26906383 http://www.tclawfirm.com 法律意见书 浙江天册（深圳）律师事务所 关于岳阳兴长石化股份有限公司 第七十次（临时）股东大会的 法律意见书 致：岳阳兴长石化股份有限公司 浙江天册（深圳）律师事务所（以下简称"本所"）接受岳阳兴长石化股份有 限公司（以下简称"公司"）的委托，指派本所律师参加公司第七十次（临时）股 东大会（以下简称"本次股东大会"），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》"）、 《上市公司股东大会规则（2022 年修订）》（以下简称"《股东大会规则》"）以 及《岳阳兴长石化股份有限公司章程》（以下简称"《公司章程》"）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召集、召开程序、出席人员的 ...

中信建投证券股份有限公司 关于岳阳兴长石化股份有限公司 2024 年度持续督导的培训报告 中信建投证券股份有限公司（以下简称"保荐人"或"中信建投证券"）作 为岳阳兴长石化股份有限公司（（以下简称（"岳阳兴长"或（"公司"）2022 年度向 特定对象发行股票的保荐人，根据《证券发行上市保荐业务管理办法》《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 13 号——保 荐业务》等相关规定，于 2024 年 12 月 20 日对公司董事、监事、高级管理人员、 中层以上管理人员及控股股东相关人员进行了专门培训，并对未到场的相关人员 派发了相关培训资料，督促其认真学习培训内容，本次培训的具体情况如下： 一、培训基本情况 1、保荐人：中信建投证券股份有限公司 2、保荐代表人：蔡子、李志强 3、培训时间：2024 年 12 月 20 日 7、参加培训的对象：公司董事、监事、高级管理人员、中层以上管理人员 及控股股东、实际控制人相关人员 二、培训内容 保荐代表人按照《深圳证券交易所上市公司自律监管指引第 13 号—保荐业 务》等法规的要求，对岳阳兴长相关人员进行了专项培训，培训内容主要包括： （1）资 ...

中信建投证券股份有限公司 关于岳阳兴长石化股份有限公司 2025 年度日常关联交易预计的核查意见 中信建投证券股份有限公司（ 以下简称"中信建投"或"保荐人"）作为岳 阳兴长石化股份有限公司 以下简称"岳阳兴长"或"公司"）2022 年度向特 定对象发行股票的保荐人，根据《证券发行上市保荐业务管理办法》《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》等有关法律法规和规范性文件的要求，对岳阳兴长 2025 年 度日常关联交易预计事项进行了审慎核查，具体核查情况如下： 一、日常关联交易基本情况 一）日常关联交易概述 岳阳兴长在日常生产经营中，向中石化湖南石油化工有限公司(以下称 （"湖 南石化")、中国石化化工销售华中分公司(以下称（"华中化销分公司")、中国石 化化工销售华南分公司(以下称（"华南化销分公司")、中国石化化工销售有限公 司江苏分公司(以下称（"化销江苏分公司")、中国石化中原石油化工有限责任公 司（ 以下简称（"中原石油公司"）、中国石化化工销售有限公司齐鲁经营部(以下称 "化销齐鲁经营部")、中国石化炼油销售有限公司(以下称（"炼销公司 ...