Meeting Overview - The second temporary meeting of the ninth board of directors of Shandong Haihua Co., Ltd. was held on August 5, 2025, with all 9 directors present [2][4] - The meeting approved the proposal to sign a cooperation investment framework agreement with several companies to jointly develop natural soda ash resources [9][15] Investment Details - The company plans to invest a total of 232,000.00 million yuan to acquire a 29% stake in Zhongyan (Inner Mongolia) Soda Industry Co., Ltd. through a capital increase [9][16] - The investment will be made in two phases: the first phase of 197,451.14 million yuan and the second phase of 34,548.86 million yuan [16][41] Project Background - Zhongyan Soda Industry has obtained mining rights for natural soda ash in the Nai Manqi area of Tongliao City, Inner Mongolia, with a total mineral volume of 1.447 billion tons [22][26] - The mining rights were acquired for 6.80866 billion yuan, and the project is expected to have a significant market advantage due to lower production costs compared to synthetic soda ash [23][29] Economic Evaluation - The project is projected to generate total revenue of 132.32 billion yuan over a 23-year evaluation period, with a total profit of 50.15 billion yuan [29] - The internal rate of return is estimated at 12.84%, with a payback period of approximately 9.02 years [29] Strategic Importance - The investment aligns with the company's strategy to diversify its product offerings and enhance competitiveness in the soda ash market [45][46] - The project is expected to provide a stable return on investment and support the company's long-term sustainable development [44][48]

Core Viewpoint - The construction and development of the Tongliao Naiman natural soda project, which holds the largest natural soda reserves in China, is advancing with new investments, representing a high-quality development direction for the soda ash industry in the context of an oversupplied market [1][2]. Investment and Capital Increase - China Salt Chemical announced on August 5 that it plans to increase the registered capital of China Salt (Inner Mongolia) Soda Industry Co., Ltd. from 40 million yuan to 8 billion yuan, with a maximum capital increase of 4.88 billion yuan [2][3]. - Strategic investors, including Shandong Haihua and Inner Mongolia Mengsalt Group, have agreed to participate in the capital increase, with Shandong Haihua contributing up to 2.32 billion yuan and Mengsalt Group up to 800 million yuan [2][3]. Project Details and Financials - The Tongliao Naiman natural soda project has a mining area of 28.85 square kilometers and a mineral volume of 1.447 billion tons, with a resource amount of 521 million tons containing ≤9.54% salt [2]. - The total investment for the project is estimated at 26.1 billion yuan, with 8 billion yuan from the current capital increase and the remaining 18.1 billion yuan to be raised through bank loans [5]. - The project is expected to produce 1.11 billion tons over 23 years, generating total revenue of 132.32 billion yuan and a net profit of 38.24 billion yuan [6]. Industry Context and Trends - The soda ash industry is experiencing a supply-demand imbalance, with supply growth outpacing demand, leading to increased market volatility [7]. - The introduction of the Tongliao Naiman project is anticipated to significantly impact the industry landscape, potentially disrupting existing companies' operations due to its cost advantages [7][8]. - The project aligns with the trend of phasing out high-energy-consuming chemical synthesis methods, as natural soda production is more cost-effective and environmentally friendly [4][8].

Core Viewpoint - The announcement of capital increase for the Tongliao Naiman natural soda ash project by Zhongyan Chemical indicates a significant investment opportunity in the natural soda ash sector, which is expected to drive high-quality development in the industry [1][2][4]. Group 1: Investment and Capital Structure - Zhongyan Chemical plans to increase the registered capital of Zhongyan (Inner Mongolia) Soda Industry Co., Ltd. from 40 million to 8 billion yuan, with strategic investors like Shandong Haohua and Inner Mongolia Mengyan Salt Industry Group expressing intent to participate in the capital increase [1][2]. - The total investment for the Tongliao Naiman natural soda ash project is projected to reach 26.1 billion yuan, with 8 billion yuan from the current capital increase and the remaining 18.1 billion yuan to be raised through bank loans [4][5]. - The project aims to deploy 730 wells and achieve an annual production capacity of 5 million tons of soda ash by 2028, significantly expanding the low-cost production capacity in the industry [4][6]. Group 2: Cost and Production Efficiency - The cost of producing natural soda ash is approximately 817 yuan per ton, which is significantly lower than the costs associated with chemical synthesis methods, which can reach up to 2,087 yuan per ton [3][7]. - The project is expected to generate substantial economic returns, with a projected total profit of 50.15 billion yuan over its operational period and a financial internal rate of return of 12.84% [5][6]. Group 3: Market Dynamics and Strategic Positioning - The natural soda ash project is anticipated to impact the existing market structure, as it will introduce significant low-cost production capacity amidst a backdrop of oversupply in the soda ash industry [6][7]. - Companies like Shandong Haohua view participation in the natural soda ash project as essential to maintaining competitiveness and mitigating risks associated with market fluctuations and reliance on single production methods [6][7].

Meeting Details - The second temporary meeting of the ninth board of directors of Shandong Haihua Co., Ltd. was held on August 2, 2025, with all 9 directors present, including independent directors attending via telecommunication [1][2] - The meeting complied with relevant laws, regulations, and the company's articles of association [1] Investment Agreement - The board approved a proposal to sign a cooperation investment framework agreement with China Salt (Inner Mongolia) Chemical Industry Co., Ltd., China Salt Inner Mongolia Chemical Co., Ltd., and Inner Mongolia Mengsalt Salt Industry Group Co., Ltd. [1][2] - The agreement aims to leverage complementary resources to jointly develop natural soda ash resources, achieving mutual benefits [1] - The company plans to invest a total of 2.32 billion yuan (232,000.00 million yuan) to acquire a 29% stake in China Salt Chemical, with payments split into two phases: 1.974 billion yuan (197,451.14 million yuan) for the first phase and 345 million yuan (34,548.86 million yuan) for the second phase [1][2] Additional Information - The investment is subject to the procedures of the property rights trading center, and the company will participate in the bidding process [2] - The execution of the investment agreement is not affected by the bidding process [2] - The voting results for the proposal were unanimous, with 9 votes in favor, 0 against, and 0 abstentions [2]

证券代码：000822 证券简称：山东海化 公告编号：2025-029 山东海化股份有限公司 第九届监事会 2025 年第一次临时会议决议公告 本公司及监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、会议召开情况 山东海化股份有限公司(以下简称"公司")第九届监事会 2025 年第 一次临时会议通知于 2025 年 8 月 2 日以书面及电子方式下发给各位监事。 进军先生主持，应出席会议监事 5 人，实际出席 5 人。会议的召集召开符 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、会议审议情况 会议审议通过了《关于签署合作投资框架协议的议案》。 为发挥各方资源互补优势，共同开发天然碱矿产，实现互惠共赢，公 司与中盐（内蒙古）碱业有限公司（简称"中盐碱业"） 、中盐内蒙古化工 股份有限公司及内蒙古蒙盐盐业集团有限公司达成合作意向，并签署合作 投资框架协议。根据协议约定，公司拟以自有资金，通过增资挂牌摘牌方 式取得中盐碱业 29%的股权，投资总额 232,000.00 万元（分两期支付： 第一期 197,451.14 万元，第二期 34,548.8 ...

证券代码：000822 证券简称：山东海化 公告编号：2025-030 山东海化股份有限公司关于签署合作投资框架协议的公告 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。 特别提示： 增资挂牌摘牌方式参与中盐（内蒙古）碱业有限公司（以下简称"中盐碱 业"）增资，摘牌结果存在不确定性。 关部门审核通过。 权出让合同》 。 环境保护等方面的风险，详见"三、交易标的的基本情况"之"（二）通 辽奈曼天然碱项目情况"之"13.相关风险因素"，敬请投资者注意。 一、交易概述 为发挥各方资源互补优势，共同开发天然碱矿产，实现互惠共赢，公 司与中盐碱业、中盐内蒙古化工股份有限公司（以下简称"中盐化工"） 及内蒙古蒙盐盐业集团有限公司（以下简称"蒙盐集团"）达成合作意向， 并签署合作投资框架协议。根据协议约定，公司拟以自有资金，通过增资 挂牌摘牌方式取得中盐碱业 29%的股权，投资总额 232,000.00 万元（分 两期支付：第一期 197,451.14 万元，第二期 34,548.86 万元）。 中盐碱业增资事项尚需履行产权交易所挂牌程序，公司将参与摘牌。 各方已达成一致意 ...

Core Viewpoint - Shandong Haihua is making a significant investment of 2.32 billion yuan to acquire a 29% stake in Zhongyan (Inner Mongolia) Soda Industry Co., Ltd., amidst declining synthetic soda market conditions and increasing pressure on its own operations [2][4][9]. Group 1: Company Financial Performance - In 2024, Shandong Haihua's total revenue is projected to be approximately 6.01 billion yuan, a decrease of 29.5% year-on-year, with a net profit attributable to shareholders of about 39.22 million yuan, down 96.24% [4][5]. - The company reported a net loss of approximately 37.76 million yuan when excluding non-recurring gains and losses [5]. - In the first quarter of 2025, revenue is expected to be around 1.02 billion yuan, a decline of 44.46% year-on-year, with a net loss of about 66.52 million yuan, down 142.75% [6]. Group 2: Industry Context and Strategic Shift - The synthetic soda industry is facing challenges due to high costs and environmental pressures, leading to overcapacity, while natural soda is gaining traction due to its lower costs and simpler production processes [4][8]. - Shandong Haihua's investment in natural soda is seen as a strategic move to diversify and stabilize its revenue streams in response to the declining synthetic soda market [9][12]. Group 3: Investment Details and Implications - The investment in Zhongyan Soda Industry involves a total project investment of approximately 26.1 billion yuan, with Shandong Haihua contributing 2.32 billion yuan to the registered capital of 8 billion yuan [8][11]. - The project is expected to yield an average annual net profit of about 482 million yuan for Shandong Haihua, presenting a potential new profit growth point [9]. - The ownership structure post-investment will see Zhongyan Chemical holding 61% of Zhongyan Soda, while Shandong Haihua will hold 29%, indicating a significant influence from Zhongyan Chemical on project decisions [11][13].

Core Viewpoint - Shandong Haihua is making a significant investment of 2.32 billion yuan to acquire a 29% stake in Zhongyan (Inner Mongolia) Soda Industry Co., Ltd, amidst declining synthetic soda market conditions and increasing pressure from environmental regulations [1][2][8]. Financial Performance - In 2024, Shandong Haihua reported total revenue of approximately 6.01 billion yuan, a year-on-year decrease of 29.50%, with a net profit attributable to shareholders of about 39.22 million yuan, down 96.24% [3][4]. - The first quarter of 2025 showed continued decline, with revenue around 1.02 billion yuan, a drop of 44.46%, and a net loss of approximately 66.52 million yuan, down 142.75% [5][6]. Industry Context - The synthetic soda industry, particularly the ammonia soda method, is facing challenges due to high costs and environmental pressures, leading to overcapacity [2][6]. - Natural soda, with its lower costs and simpler production process, is becoming increasingly attractive as a trend in the industry [2][6]. Investment Rationale - The investment in natural soda is seen as a strategic move for Shandong Haihua to diversify and optimize its product structure, transitioning from reliance on synthetic soda to a dual approach of synthetic and natural soda [8][12]. - The targeted natural soda project in Tongliao, with a mineral resource of 1.447 billion tons and a planned production capacity of 5 million tons, is expected to generate an average annual net profit of about 482 million yuan for Shandong Haihua [7][12]. Shareholding Structure - After the investment, Zhongyan Chemical will hold 61% of Zhongyan Soda, while Shandong Haihua will hold 29% and Inner Mongolia Mengyan Salt Industry Group will hold 10% [8][9]. - The investment structure indicates a power dynamic where Zhongyan Chemical, as the majority shareholder, will have significant control over project decisions [9][10]. Funding and Risks - Shandong Haihua's investment will be made in two phases, with the first phase of 1.975 billion yuan due by August 8, 2025, and the second phase of 345 million yuan due by September 25, 2025 [10][11]. - The project faces uncertainties, including the need for successful completion of the equity transfer process and potential administrative approvals, which could impact the expected returns on investment [12].

重要公告： 若羽臣：筹划发行H股股票并在香港联合交易所上市 山东海化：拟取得中盐碱业29%股权投资总额23.2亿元 牧原股份：7月销售商品猪收入116.39亿元同比下降10.41% 三江购物：与盒马公司签署的盒马鲜生业务合作协议到期后不再续签 三江购物（601116）公告，公司与关联方阿里巴巴（中国）有限公司所属的盒马（中国）有限公司（简 称"盒马公司"）签署的《盒马鲜生业务合作协议》，将于2026年3月31日到期，合作协议到期后不再续 签。为妥善安排员工工作，尽量减少对顾客购物的影响，公司将尽快与盒马公司商议涉及协议终止的相 关过渡及交接事宜，期间会对宁波盒马门店销售产生影响。 豪恩汽电：拟定增募资不超过11.05亿元用于豪恩汽电深圳产线扩建项目等 安车检测：控股股东变更为矽睿科技股票6日起复牌 沪市重要公告： 明志科技：就云内动力拖欠货款事项向法院提起诉讼 明志科技（688355）公告，公司就昆明云内动力股份有限公司（简称"云内动力"）拖欠货款事项向昆明 市官渡区人民法院（简称"法院"）提起诉讼，并于近日收到法院送达的《受理案件通知书》，涉案金额 合计3537.97万元。截至公告披露日，该案件已立案，尚未 ...

（文章来源：证券日报） 证券日报网讯 8月5日晚间，山东海化发布公告称，公司第九届监事会2025年第一次临时会议审议通过 了《关于签署合作投资框架协议的议案》。 ...