Core Viewpoint - Luzhou Laojiao (000912.SZ) announced a share reduction plan by its shareholders, which may impact the stock price and investor sentiment [1] Summary by Categories Shareholder Actions - The shareholders, including Industrial Bank Chongqing Branch and its concerted party, Industrial Asset Management Co., plan to reduce their holdings by up to 47.04 million shares [1] - This reduction represents approximately 3% of the company's total share capital [1] Timeline - The share reduction is set to commence 15 trading days after the announcement, starting from September 29, 2025, and will occur over a period of three months [1]

Group 1 - The core point of the announcement is that Sichuan Lutianhua Co., Ltd. plans to reduce its shares held by major shareholders, specifically Industrial Bank Co., Ltd. Chongqing Branch and its action-in-concert party, Industrial Asset Management Co., Ltd. [1][2] - The reduction plan involves selling up to 47,040,000 shares, which accounts for approximately 3% of the company's total share capital, over a period of three months starting from September 29, 2025 [1][2]. - The reduction will be executed through block trading and centralized bidding, with a maximum of 31,360,000 shares (about 2% of total share capital) sold via block trading and up to 15,680,000 shares (about 1% of total share capital) through centralized bidding [1][2]. Group 2 - The reason for the reduction is stated as the operational needs of the shareholders [2]. - The shareholders have not made any commitments regarding the reduction, and the timing, quantity, and price of the shares sold will depend on market conditions [2]. - The company assures that the reduction will not significantly impact its governance structure or ongoing operations, and the controlling shareholder will remain unchanged after the reduction [2].

Core Viewpoint - The company, Luzhou Laojiao (000912), announced that its shareholder, Industrial Bank Co., Ltd. Chongqing Branch, along with its concerted party, Industrial Asset Management Co., Ltd., plans to reduce their holdings in the company by up to 47.04 million shares, which represents approximately 3% of the company's total share capital [1] Summary by Category - **Shareholder Actions** - Industrial Bank Co., Ltd. Chongqing Branch and Industrial Asset Management Co., Ltd. intend to reduce their stake in the company through block trading and centralized bidding methods [1] - The planned reduction will occur within three months after 15 trading days from the announcement date [1]

证券代码：000912 证券简称：泸天化 公告编号：2025-049 四川泸天化股份有限公司 （一）减持原因：股东经营之需要 （二）减持数量及比例：通过证券交易所大宗交易方式减持股份的总数不超 过 31,360,000 股，减持比例约占公司总股本的 2%；通过集中竞价方式减持公司 股份合计不超过 15,680,000 股，减持比例约占公司总股本的 1%。 （三）减持方式：大宗交易和集中竞价。 关于股东减持股份计划的预披露公告 兴业银行股份有限公司重庆分行、兴业资产管理有限公司保证向本公司提供的信息内 容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导性 陈述或重大遗漏。 四川泸天化股份有限公司（以下简称"公司"）于近日收到股东兴业银行股 份有限公司重庆分行及其一致行动人兴业资产管理有限公司出具的《股东减持计 划告知函》，计划在本公告披露之日起 15 个交易日后（2025 年 9 月 29 日开始） 的 3 个月内，通过证券交易所大宗交易方式和集中竞价方式合计减持公司股份不 超过 47,040,000 股，减持比例约占公司总股本的 ...

（文章来源：证券日报） 证券日报网讯泸天化9月5日在互动平台回答投资者提问时表示，为调整产品结构，公司投资建设年产10 万吨绿色精细化学品项目，计划2027年建成投产。 ...

Group 1 - Luzhou Chemical indirectly holds approximately 3.97% equity in Chengdu Tienshun Baoli New Materials Co., Ltd [2] - Chengdu Tienshun Baoli New Materials Co., Ltd. produces PPEK, which belongs to the new materials sector [2]

| 交易日 | 两融余额(元) | 余额变动(元) | 变动幅度 | | --- | --- | --- | --- | | 2025-09-02 | 1.57亿 | 38.84万 | 0.25% | | 2025-09-01 | 1.56亿 | 9.44万 | 0.06% | | 2025-08-29 | 1.56亿 | 84.08万 | 0.54% | | 2025-08-28 | 1.55亿 | -93.17万 | -0.60% | | 2025-08-27 | 1.56亿 | 535.49万 | 3.55% | 小知识 融资融券：融资融券交易又称"证券信用交易"或保证金交易，是指投资者向具有融资融券业务资格的证 券公司提供担保物，借入资金买入证券（融资交易）或借入证券并卖出（融券交易）的行为。包括券商 对投资者的融资、融券和金融机构对券商的融资、融券。 证券之星消息，9月2日，泸天化（000912）融资买入480.15万元，融资偿还441.31万元，融资净买入 38.84万元，融资余额1.56亿元，近3个交易日已连续净买入累计132.72万元，近20个交易日中有13个交 易日出现融资净买入。 | 交易 ...

专利摘要显示，本发明属于高分子材料合成技术领域，公开了一种高效制备聚碳酸酯二元醇的方 法。该制备方法包含：在氮气保护下，将原料二元醇和催化剂加入到聚酯反应釜内；升温到145℃ ±5℃，缓慢匀速加入碳酸二甲酯，4小时滴加完成；升高温度到180℃，反应2小时；梯度升温1℃/min， 同时抽真空至低压力，升温到210±5℃；逐步升高真空度，稳定后控制真空时间1‑1.5h，反应温度为 210±5℃。 2025年8月26日消息，国家知识产权局信息显示，四川泸天化创新研究院有限公司申请一项名为"一 种高效制备聚碳酸酯二元醇的方法"的专利，公开号CN120535736A，申请日期为2025年06月。 ...

Financial Performance - The company's total revenue for the first half of 2025 was 2.379 billion yuan, a decrease of 13.45% year-on-year [1] - The net profit attributable to shareholders was 46.1026 million yuan, down 65.55% year-on-year [1] - In Q2 2025, total revenue was 877 million yuan, a decline of 44.82% year-on-year, with net profit attributable to shareholders at 9.2734 million yuan, down 90.77% year-on-year [1] - The gross margin was 8.38%, a decrease of 33.09% year-on-year, while the net margin was 1.92%, down 58.63% year-on-year [1] Financial Ratios - The company's return on invested capital (ROIC) was 0.59%, indicating weak capital returns [3] - The historical median ROIC over the past 10 years was 2.6%, with the worst year being 2017, which recorded a ROIC of -26.14% [3] - The net profit margin for the previous year was 1.5%, suggesting low added value for products or services [3] Accounts Receivable and Cash Flow - Accounts receivable increased significantly, with a year-on-year growth of 98.34%, reaching 119 million yuan [1] - The cash flow per share was 0.0 yuan, a decrease of 98.51% year-on-year [1] - The ratio of accounts receivable to profit reached 155.94%, indicating potential issues with cash collection [3] Cost Structure - Total selling, administrative, and financial expenses amounted to 125 million yuan, accounting for 5.27% of revenue, a decrease of 34.34% year-on-year [1] - The company reported a decrease in monetary funds, which totaled 1.991 billion yuan, down 11.64% year-on-year [1] Shareholder Metrics - Earnings per share were 0.03 yuan, a decline of 66.67% year-on-year [1] - The net asset value per share was 4.1 yuan, down 1.69% year-on-year [1]

Company Summary - Luzhou Chemical (SZ 000912) announced the convening of its 14th meeting of the 8th Board of Directors on August 25, 2025, via telecommunication voting [1] - The company reported its revenue composition for the first half of 2025, with the fertilizer sector accounting for 70.75%, chemicals for 28.71%, and other businesses for 0.54% [1] Industry Summary - The pet industry is experiencing significant growth, with a market size of 300 billion yuan, leading to a surge in stock prices for related companies [1]