Group 1: Research Basic Information - The research object is Luxi Chemical, belonging to the chemical raw materials industry, and the reception time is July 17, 2025. The listed company's reception staff includes the board secretary Liu Yuegang and the securities affairs representative Liu Qing [17] Group 2: Detailed Research Institutions - The institutions participating in the research include Dajia Asset, BOC Asset Management, Qianhai Kaiyuan, Minsheng Securities, etc. The relevant personnel of these institutions are Liu Tengyao, Chen Guanxiong, Huang Aoxue, and Fei Chenhong respectively [2][18] Group 3: Main Content Information Company's Production and Operation - The overall production and operation of the park are normal. The company strengthens safety management and implements "Four Preventions in Summer" to ensure stable operation of production enterprises. It also coordinates production, sales, and procurement to adjust according to market changes, aiming to maximize economic benefits [22] Company's Performance in Q1 2025 and Product Market in Q2 - In Q1 2025, the company's operating income was about 7.29 billion yuan, a year-on-year increase of 7.96%. The net profit attributable to shareholders of the listed company was about 413 million yuan, a year-on-year decrease of 27.3%. The net profit attributable to shareholders of the listed company after deducting non - recurring gains and losses was about 384 million yuan, a year-on-year decrease of 33.81%. In Q2, chemical product prices fluctuated, and the company adjusted in a timely manner [22] Company's Dividend Policy - In 2024, the company distributed a cash dividend of 3.50 yuan per 10 shares (tax - included) based on the total share capital at the end of 2024, and the dividend has been implemented. In the future, the company will determine the dividend plan reasonably according to regulatory requirements [23] Solution to the Issue of Competing Business - In April this year, the company's subsidiary signed a "Fluorine Product Framework Cooperation Agreement" with Sinochem Lantian Group Trading Co., Ltd., a subsidiary of Haohua Technology, to solve the issue of competing business in difluoromethane [23] Forecast of Product Market Trends - The market prices of chemical products are affected by multiple factors and are difficult to predict. The company will follow market changes, adjust in a timely manner, and strive to achieve a balance between production and sales [24]

Group 1: Company Performance Overview - In Q1 2025, the company achieved revenue of approximately 7.29 billion CNY, representing a year-on-year increase of 7.96% [1] - The net profit attributable to shareholders was approximately 413 million CNY, a year-on-year decrease of 27.3% [2] - The net profit excluding non-recurring gains and losses was about 384 million CNY, down 33.81% year-on-year, primarily due to a decline in chemical product prices [2] Group 2: Market and Operational Adjustments - The company is actively adjusting production and sales strategies in response to market demand fluctuations and changes in oil prices [2] - The company emphasizes energy conservation and efficiency improvements to mitigate market risks and maximize economic benefits [1] Group 3: Dividend Policy - The profit distribution plan for 2024 proposes a cash dividend of 3.50 CNY per 10 shares (tax included), which has already been implemented [2] - Future dividend plans will consider operational performance, cash flow, and shareholder returns, adhering to regulatory requirements [2] Group 4: Competition and Market Strategy - The company signed a framework cooperation agreement with a subsidiary of Haohua Technology to address competition issues related to certain products [2] - The company will continue to monitor market trends and adjust strategies to maintain production and sales balance [2]

证券代码：000830 证券简称：鲁西化工 公告编号：2025-050 鲁西化工集团股份有限公司 关于召开 2025 年第四次临时股东大会的提示性公告 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。 鲁西化工集团股份有限公司（以下简称"公司"）于2025 年7月4日在《中国证券报》《证券时报》《证券日报》《上海证 券报》及巨潮资讯网披露了《关于召开2025年第四次临时股东大 会的通知》（公告编号：2025-049），本次股东大会将采用现场 投票和网络投票相结合的方式，现对公司召开本次股东大会再次 提示公告如下： 一、召开会议的基本情况 1、股东大会届次：2025 年第四次临时股东大会 2、召集人：2025 年 7 月 3 日召开的第九届董事会第十次会 议审议通过了《关于召开 2025 年第四次临时股东大会通知的议 案》，定于 2025 年 7 月 21 日（星期一）召开公司 2025 年第四 次临时股东大会。 3、会议召开的合法、合规性：本次会议召开符合有关法律、 行政法规、部门规章、规范性文件和《公司章程》等规定。 4、会议召开的日期、时间： （1）现场会议 ...

Investment Rating - The report maintains a "Recommended" rating for the organic silicon industry, indicating a positive outlook for the sector [1]. Core Insights - Dow Chemical plans to close its basic siloxane plant in Barry, UK, by mid-2026 as part of its European asset optimization strategy, which will reduce siloxane production capacity by 145,000 tons per year, representing nearly one-third of Europe's total capacity [5]. - The closure is expected to enhance the pricing of organic silicon materials and improve the industry's overall profitability, while also creating significant opportunities for Chinese exporters to fill the supply gap left by the European exit [5]. - The report highlights a steady increase in industrial silicon prices, which supports the upward trend in organic silicon prices, with the average market price reaching 8,881 CNY per ton as of July 10, 2025, up 245 CNY from June 11, 2025 [6][7]. Summary by Sections Recent Trends - The organic silicon industry has shown a positive performance relative to the basic chemical sector and the CSI 300 index over the past year, with a 12-month increase of 17.4% for basic chemicals and 15.8% for CSI 300 [3]. Investment Highlights - The anticipated exit of major overseas producers from the market is expected to enhance the industry's outlook, with a notable increase in demand for organic silicon intermediates, which saw a 5.77% year-on-year increase in exports from China in the first five months of 2025 [5]. - The report emphasizes the importance of monitoring companies with organic silicon intermediate DMC production capacity, such as Xingfa Group, Luxi Chemical, Dongyue Silicon Materials, and others [8]. Key Companies and Earnings Forecast - The report provides earnings per share (EPS) forecasts for several key companies, indicating a positive growth trajectory for firms like Hoshine Silicon Industry and Xingfa Group, with projected EPS of 1.72 and 1.85 for 2025, respectively [8].

Investment Rating - The report maintains an "Overweight" rating for the Basic Chemicals and Oil & Gas sectors [5]. Core Insights - The overall price spread in the industry is weak, with the CCPI-oil price spread at approximately 558, below the 30% percentile since 2012, indicating a potential turning point in the industry as supply and demand begin to recover [1][14]. - Capital expenditure growth in the chemical raw materials and products industry has significantly declined, with a year-on-year increase of only 0.4% from January to May 2025, suggesting a self-adjustment phase in the supply side [2][31]. - The domestic PMI for June 2025 is reported at 49.7, indicating a slight recovery in demand, although uncertainties remain regarding tariff policies post-July 9 [2][16]. Summary by Sections Supply Side - The industry capital expenditure growth has dropped to a low level, indicating a potential turning point for supply-side adjustments, with expectations for a recovery starting in the second half of 2025 [2][31]. - The report highlights that the competitive intensity has increased, leading to a significant decline in profitability across most sub-sectors since the second half of 2022 [2][31]. Demand Side - The report notes a recovery in domestic PMI, but uncertainties regarding tariff policies may disrupt future export orders [2][16]. - The demand for chemical products is expected to improve in the medium to long term, supported by domestic economic recovery and growth in demand from regions like Asia, Africa, and Latin America [2][16]. Investment Strategy - The report suggests that the second half of 2025 may see an upward turning point, with a focus on resilient demand and improved supply dynamics [34]. - Specific recommendations include: - Oil & Gas: Favorable long-term prospects for high-dividend companies like China Petroleum [34]. - Bulk Chemicals: Attention on refrigerants and isocyanates, with recommendations for companies like Juhua Co., Luxi Chemical, and Wanhua Chemical [34]. - Downstream Products: Recommendations for companies like Meihua Biological Technology and Xinghuo Technology, anticipating recovery in downstream demand [34]. - Export-driven chemical products: Companies like Senqilin and Sailun Tire are highlighted for their competitive advantages in exports [34]. - High-dividend assets: Companies like Hengli Petrochemical are recommended for their potential to increase dividend payouts [34].

Core Points - Luxi Chemical Group Co., Ltd. is a publicly listed company established in accordance with the Company Law of the People's Republic of China and other relevant regulations [1][2] - The company was approved by the China Securities Regulatory Commission to issue 50 million shares of ordinary stock to the public in May 1998 and was listed on the Shenzhen Stock Exchange in August 1998 [2] - The registered capital of the company is RMB 1,904,319,011 [2] Company Structure - The company is a permanent stock company with all assets divided into equal shares, and shareholders are liable for the company's debts only to the extent of their subscribed shares [2][3] - The company is governed by its articles of association, which serve as a legally binding document for the organization and behavior of the company, shareholders, and management [3] Business Objectives and Scope - The company's business objectives include establishing a modern enterprise system, clarifying property rights, and developing production capacity with a focus on quality and efficiency [4] - The business scope includes the production and sale of chemical fertilizers and chemical raw materials, heating and steam services, and chemical technology consulting [4] Share Issuance and Management - The company's shares are issued in the form of stocks, adhering to principles of openness, fairness, and justice [5] - The total number of shares issued by the company is 1,904,319,011, all of which are ordinary shares [5] Shareholder Rights and Responsibilities - Shareholders have rights to dividends, participate in shareholder meetings, supervise company operations, and transfer their shares [10][12] - Shareholders holding more than 5% of voting shares must report any pledges of their shares to the company [12] Governance and Decision-Making - The company’s board of directors and supervisory board are responsible for reporting to the shareholders and making decisions on key matters such as profit distribution and capital changes [43][79] - Shareholder meetings are the company's power institution, with the authority to decide on business policies, elect directors, and approve financial reports [43][79]

Group 1 - The company is adjusting the repurchase price and canceling part of the granted restricted stock under its 2021 incentive plan, following necessary legal procedures and approvals [11][12][18] - The repurchase price adjustment is based on the company's profit distribution and capital changes, ensuring compliance with relevant regulations [12][17] - The company plans to repurchase a total of 585.344 million shares of restricted stock due to unmet performance targets for the third unlock period [14][16] Group 2 - The repurchase price for the restricted stock is set at 6.36 yuan per share, plus bank interest, with a total funding requirement of approximately 37.782 million yuan sourced from the company's own funds [16][17] - The company has obtained necessary approvals for the repurchase and cancellation of restricted stock, but still needs to fulfill shareholder meeting procedures and regulatory disclosures [18]

Core Viewpoint - The company announced the repurchase and cancellation of certain restricted stocks due to the failure to meet the conditions for the third release period of the 2021 restricted stock incentive plan [1][12][16] Group 1: Stock Incentive Plan Details - The company held board meetings to approve the 2021 restricted stock incentive plan and its amendments, with independent directors providing consent [2][4] - The plan was approved by the State-owned Assets Supervision and Administration Commission, allowing the company to implement the restricted stock incentive plan [2][3] - The initial grant date for the restricted stocks was set for May 11, 2022, with a grant price of 9.49 yuan per share for 276 eligible participants [4][5] Group 2: Repurchase and Cancellation Reasons - The company plans to repurchase and cancel a total of 585.344 million shares of restricted stock due to the failure to meet performance targets for the third release period [12][14] - The repurchase price for the first grant of 245 participants is set at 6.36 yuan per share, while for the reserved grant of 75 participants, it is 6.87 yuan per share [13][14] Group 3: Financial Impact and Approval - The total amount allocated for the repurchase of restricted stocks is approximately 37.782 million yuan, sourced from the company's own funds [14] - Following the repurchase, the total number of shares will decrease from 1,910,172,451 to 1,904,319,011, with no significant impact on the company's management stability or financial performance [15][16] - The supervisory board confirmed that the repurchase and cancellation procedures comply with relevant regulations and have received necessary approvals [16][17]

| 《公司章程》修订对照表： | | --- | | 序号 | 修订前 | 修订后 | | --- | --- | --- | | 1 | 第六条 公司注册资本为人民币 | 第六条 公司注册资本为人民币 | | | 1,910,172,451 元。 | 1,904,319,011 元。 | | 2 | 第十九条 公司股份总数为 | 第十九条 公司股份总数为 | | | 1,910,172,451 股，全部为普通股。 | 1,904,319,011 股，全部为普通股。 | 鲁西化工集团股份有限公司 公司章程修订对照表 鲁西化工集团股份有限公司（以下简称"公司"）于 2025 年 7 月 3 日召开的第九届董事会第十次会议审议通过了《关 于修订<公司章程>部分条款的议案》，鉴于公司拟回购注销 585.344 万股限制性股票，本次限制性股票回购注销完成后， 公司总股本及注册资本将发生变化，拟修订《公司章程》的 部分条款，具体内容修订如下： 鲁西化工集团股份有限公司 董事会 二〇二五年七月四日 以上内容经公司董事会审议通过后，需提交公司最近一 次股东大会审议。 ...

证券代码：000830 证券简称：鲁西化工 公告编号：2025-048 鲁西化工集团股份有限公司 关于2021年限制性股票激励计划第三个解除限售期解除限 售条件未成就并回购注销部分限制性股票的公告 （三）2022 年 4 月 17 日，公司召开第八届董事会第二十三 次会议和第八届监事会第十五次会议，审议通过了《关于<鲁西 化工集团股份有限公司 2021 年限制性股票激励计划（草案修订 稿）>及其摘要的议案》等相关议案。关联董事对相关议案进行 了回避表决，独立董事对公司本次激励计划相关事项发表了同意 的独立意见。 （四）2022 年 4 月 18 日，公司披露了《独立董事公开征集 表决权的公告》，独立董事张辉玉先生受其他独立董事的委托作 为征集人，就公司于 2022 年 5 月 6 日召开的 2022 年第一次临时 股东大会审议的股权激励相关议案向公司全体股东公开征集委 托投票权。 （五）2022 年 4 月 18 日至 2022 年 4 月 27 日，公司通过公 司内部布告栏公示了 2021 年限制性股票激励计划激励对象名单 及职务。公示期满，公司未收到任何组织或个人对拟激励对象提 出的异议。2022 年 4 ...