证券代码：002064 证券简称：华峰化学 公告编号：2025-032 华峰化学股份有限公司 第九届董事会第九次会议决议公告 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 华峰化学股份有限公司（以下简称"公司"）第九届董事会第九次会议通 知于 2025 年 4 月 14 日以电子邮件或专人送达方式发出，会议于 2025 年 4 月 25 日以通讯表决的方式召开。会议由董事长尤飞煌先生主持。本次会议应到董 事 9 人，实到 9 人，公司监事、高级管理人员列席会议，符合《公司法》和 《公司章程》的有关规定，会议决议合法有效。 二、 董事会会议审议情况 （一）审议通过了《2025 年第一季度报告》。 具体内容详见登载于 2025 年 4 月 26 日的证券时报、中国证券报、巨潮资 讯网（http://www.cninfo.com.cn）的《2025 年第一季度报告》。 表决结果：同意 9 票、反对 0 票、弃权 0 票。 （二）审议通过了《关于使用部分闲置募集资金及自有资金进行现金管理 的议案》。 具体内容详见登载于 2025 年 4 月 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥6,313,831,888.08, a decrease of 5.15% compared to ¥6,656,787,137.28 in the same period last year[4] - Net profit attributable to shareholders was ¥504,316,364.85, down 26.21% from ¥683,442,402.36 year-on-year[4] - Basic and diluted earnings per share decreased by 28.57% to ¥0.10 from ¥0.14 in the same period last year[4] - The company reported a significant increase in investment income of 34.23%, reaching ¥34,340,095.93 compared to ¥25,583,000.02 in the previous year[8] - The company recorded a 2269.66% increase in asset disposal income, amounting to ¥7,721,058.50 compared to ¥325,829.84 in the previous year[8] - The company's net profit for the current period is 505,927,291.81, a decrease of 26% compared to 682,208,716.64 in the previous period[18] - Operating profit for the current period is 577,767,157.25, down from 775,521,638.23, indicating a decline of about 26%[18] - Total comprehensive income for the current period is 513,536,404.09, compared to 692,162,497.33 in the previous period, representing a decrease of approximately 26%[19] Cash Flow and Liquidity - The net cash flow from operating activities improved significantly to ¥103,499,728.09, a 271.34% increase from -¥60,404,505.17 in the previous year[4] - Cash flow from operating activities generated a net amount of 103,499,728.09, a significant improvement from a negative cash flow of -60,404,505.17 in the previous period[20] - The company's cash and cash equivalents decreased to CNY 6,223,679,237.11 from CNY 7,067,672,762.04, reflecting a decline of 11.96%[14] - Cash and cash equivalents at the end of the period decreased to 5,413,225,807.80 from 9,839,642,474.43, a decline of about 45%[21] - Investment activities resulted in a net cash outflow of -226,996,191.53, compared to -430,092,185.03 in the previous period, showing an improvement[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥35,651,947,531.15, a slight decrease of 0.87% from ¥35,966,174,587.83 at the end of the previous year[4] - Total assets decreased to CNY 35,651,947,531.15 from CNY 35,966,174,587.83, a reduction of 0.87%[15] - Total liabilities decreased to CNY 8,584,247,288.65 from CNY 9,414,021,519.48, a decline of 8.83%[16] - The company's retained earnings increased to CNY 17,277,080,137.47 from CNY 16,772,763,772.62, reflecting a growth of 3.01%[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 58,115, with the largest shareholder, Huafeng Group Co., Ltd., holding 45.10% of the shares[10] - The number of shares held by the top shareholder, Huafeng Group Co., Ltd., is 2,237,942,524, representing a significant ownership stake[11] Operational Metrics - Total operating costs for the current period amount to CNY 5,837,290,678.90, down 2.33% from CNY 5,976,341,916.96 in the previous period[17] - The total revenue from sales of goods and services was 5,705,566,356.39, a decrease from 5,907,704,772.62 in the previous period, reflecting a decline of approximately 3%[20] - Research and development expenses decreased to 210,281,196.97 from 244,076,957.61, reflecting a reduction of approximately 14%[18] Future Plans - The company is planning to issue shares and pay cash for asset acquisition, with details available in announcements dated January 27, February 26, and March 26, 2025[12]

北京海润天睿律师事务所 关于华峰化学股份有限公司 发行股份及支付现金购买资产暨关联交易之 相关人员买卖股票情况的 专项核查意见 华峰化学股份有限公司： 北京海润天睿律师事务所（以下简称"本所"）接受华峰化学股份有限公 司（以下简称"华峰化学"、"公司"或"上市公司"）委托，担任华峰化学 发行股份及支付现金购买浙江华峰合成树脂有限公司、浙江华峰热塑性聚氨酯 有限公司(以下合称"标的公司")100%股权（以下简称"本次交易"）的专项 法律顾问，并已依据《中华人民共和国公司法》《中华人民共和国证券法》《上 市公司重大资产重组管理办法》等相关法律、法规及规范性文件的有关规定， 就本次交易相关法律问题出具了《北京海润天睿律师事务所关于华峰化学股份 有限公司发行股份及支付现金购买资产暨关联交易的法律意见书》(以下简称 "《法律意见书》")。 根据中国证券监督管理委员会（以下简称"中国证监会"）发布的《监管 规则适用指引——上市类第 1 号》及《公开发行证券的公司信息披露内容与格 式准则第 26 号——上市公司重大资产重组》的相关要求，本所对自查期间（如 下文所定义）内相关人员买卖上市公司股票的情况进行专项核查，并出具本专 ...

国泰海通证券股份有限公司 关于华峰化学股份有限公司 本次交易相关主体买卖股票情况的 自查报告之专项核查意见 华峰化学股份有限公司（证券代码：002064.SZ，以下简称"上市公司"或 "华峰化学"）拟通过发行股份及支付现金的方式购买华峰集团有限公司（以下简 称"华峰集团"）、尤小平、尤金焕、尤小华持有的浙江华峰合成树脂有限公司（以 下简称"华峰合成树脂"）合计 100.00%的股权；拟通过发行股份及支付现金的 方式购买华峰集团持有的浙江华峰热塑性聚氨酯有限公司（以下简称"华峰热 塑"）100.00%的股权（以下简称"本次交易"）。 根据《中华人民共和国证券法》《上市公司重大资产重组管理办法》《公开发 行证券的公司信息披露内容与格式准则第 26 号——上市公司重大资产重组》《上 市公司监管指引第 7 号——上市公司重大资产重组相关股票异常交易监管》等法 律法规的规定，国泰海通证券股份有限公司（以下简称"国泰海通"或"独立财 务顾问"）作为本次交易的独立财务顾问，对本次交易相关主体买卖股票的情况 进行了核查，具体情况如下： 一、本次交易相关主体买卖股票情况核查期间 4、标的公司及其董事、监事、高级管理人员； 5、 ...

证券代码：002064 证券简称：华峰化学 公告编号：2025-029 华峰化学股份有限公司 关于本次交易相关主体买卖股票情况自查报告的公告 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。 重要内容提示： 根据中国证券登记结算有限责任公司深圳分公司出具的《信息披露义务人持 股及股份变更查询证明》和《股东股份变更明细清单》及关于本次交易相关主体 签署的自查报告及承诺等文件，在上述相关主体签署的自查报告及承诺真实、准 确、完整的情况下，上述相关主体在自查期间买卖上市公司股票的行为不构成内 幕交易，不会对本次重组构成实质性法律障碍；核查范围内其他相关主体在自查 期间内不存在买卖华峰化学股票的情形，不存在利用内幕信息买卖股票的情形。 独立财务顾问、法律顾问对上述事项出具相关核查意见。 根据《中华人民共和国证券法》《上市公司重大资产重组管理办法》《公开发 行证券的公司信息披露内容与格式准则第 26 号——上市公司重大资产重组》《上 市公司监管指引第 7 号——上市公司重大资产重组相关股票异常交易监管》等法 律法规的规定，上市公司对本次交易相关主体买卖上市公司股票情况进行 ...

交易完成后，两家标的公司将纳入上市公司合并报表，成为华峰化学全资子公司，进一步巩固其在聚氨酯产业链的垂直整合优势。 近期，华峰化学股份有限公司（002064.SZ，下称"华峰化学"）发布重大资产重组草案，宣布拟以总对价60亿元收购控股股东华峰集团有限公 司（下称"华峰集团"）及关联方持有的华峰合成树脂100%股权（作价40.4亿元）和华峰热塑100%股权（作价19.6亿元）。 制图：佘诗婕 净利润连续下滑 公开资料显示，华峰化学主要从事氨纶纤维、聚氨酯原液、己二酸等聚氨酯制品材料的研发、生产与销售，华峰合成树脂、华峰热塑与其同属 于聚氨酯产业链，产品应用于聚氨酯制品的不同细分领域。 近年来，华峰化学业绩表现不尽如人意，2021年后公司归母净利润出现连续下滑。数据显示，2022年至2024年，公司归母净利润分别为28.44 亿元、24.78亿元和22.20亿元，同比分别下滑64.17%、12.85%和10.43%。同期，公司营业收入分别为258.84亿元，262.98亿元和269.31亿元，呈现先 下滑后增长的态势。 制图：李昕 净利润下降的同时，公司的毛利率也不容乐观。自2021年达到顶峰38.70%之后，2 ...

Investment Rating - The report assigns a "Buy" rating to the company, indicating an expected relative price increase of over 15% compared to the CSI 300 index in the next six months [6][12]. Core Views - The company is experiencing pressure on performance due to low industry sentiment, with a slight revenue increase of 2.41% year-on-year to CNY 26.931 billion in 2024, while net profit decreased by 10.43% to CNY 2.220 billion [4][6]. - The company is focusing on both vertical integration and product expansion, with ongoing capacity expansion in spandex and investments in key raw material projects [5][6]. Summary by Sections Financial Performance - In 2024, the company reported revenue of CNY 26.931 billion, a year-on-year increase of 2.41%, and a net profit of CNY 2.220 billion, a decline of 10.43% [4][8]. - The fourth quarter of 2024 saw revenue of CNY 6.559 billion, down 0.87% year-on-year, and a net profit of CNY 205 million, down 62.66% year-on-year [4]. Product and Market Analysis - The spandex industry continues to operate at the bottom of the cycle, facing pressures from concentrated capacity release and weak demand, leading to declining product prices [4]. - The company achieved a spandex sales volume of 368,200 tons (+12.29%) and revenue of CNY 9.051 billion (-2.74%) in 2024 [4]. - The chemical fiber segment's gross margin improved by 1.16 percentage points to 13.66% despite revenue decline [4]. Strategic Initiatives - The company is expanding its spandex capacity with a 150,000-ton project in Chongqing, adjusting its original plan to 250,000 tons and delaying full production to the end of 2026 [5]. - The company is also investing in a 250,000-ton/year BDO and a 240,000-ton/year PTMEG project to stabilize raw material supply and reduce costs [5]. - A planned acquisition of 100% equity in Zhejiang Huafeng Synthetic Resin Co., Ltd. and Zhejiang Huafeng Thermoplastic Polyurethane Co., Ltd. aims to enhance product lines and competitive synergy [5]. Earnings Forecast - The company forecasts earnings per share (EPS) of CNY 0.45 in 2024, increasing to CNY 0.50 in 2025, CNY 0.67 in 2026, and CNY 0.76 in 2027 [6][8].

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [2][12]. Core Views - The company is positioned as a leader in the domestic spandex and adipic acid industry, with significant cost advantages at the bottom of the cycle, awaiting an industry turning point [9][10]. - In 2024, the company is expected to experience a decline in profitability due to insufficient demand and price drops in key products, despite an increase in sales volume [6][7]. - The report forecasts a recovery in the spandex and adipic acid sectors, with no new capacity expected in the adipic acid industry in 2025, which may lead to improved consumption driven by domestic technological advancements [10][12]. Financial Performance Summary - In 2024, the company achieved operating revenue of 26.931 billion yuan, a year-on-year increase of 2.4%, while net profit attributable to shareholders was 2.220 billion yuan, down 10.4% year-on-year [6][11]. - The fourth quarter of 2024 saw a decline in revenue to 6.559 billion yuan, a decrease of 0.9% year-on-year, and a significant drop in net profit to 205 million yuan, down 62.7% year-on-year [6][8]. - The gross profit margin for 2024 was 13.8%, down 1.5 percentage points from the previous year, indicating pressure on profitability [6][12]. Product Segment Performance - The chemical fiber segment generated revenue of 9.051 billion yuan in 2024, a decrease of 2.7% year-on-year, while sales volume increased by 12.3% to 368,000 tons [7]. - The chemical new materials segment reported revenue of 5.844 billion yuan, a slight decline of 0.7% year-on-year, with a sales volume of 425,000 tons, up 2.4% [7]. - The basic chemical products segment saw a revenue increase of 22.3% to 10.475 billion yuan, with a sales volume of 1.366 million tons, although the gross margin decreased by 8.8 percentage points [7].

Investment Rating - The report does not explicitly state an investment rating for the synthetic biology industry Core Insights - The synthetic biology sector is experiencing a global technological revolution, providing innovative solutions to major challenges such as health, climate change, and food security, as highlighted by the National Development and Reform Commission's "14th Five-Year Plan for Bioeconomic Development" [4] - The Huazhong Securities synthetic biology index, which includes 58 companies across various sectors, has seen a decline of 9.66% recently, underperforming compared to the Shanghai Composite Index [5][17] Industry Market Dynamics - The synthetic biology sector's stocks have performed poorly recently, with a 9.66% drop, ranking 32nd among sectors [17] - The top five gainers in the synthetic biology sector include: - Novozymes (+27%) - Shandong Heda (+10%) - Yaxiang Co. (+10%) - Pro Pharma (+3%) - Huafeng Chemical (+2%) [18] - The top five losers include: - Xinri Hengli (-18%) - Kasei Biotech (-12%) - Yabao Chemical (-9%) - Berry Genomics (-7%) - Weilan Bio (-6%) [22] Company Business Developments - Anhui Pucan has launched the world's largest CO₂-based polycarbonate production facility, with an annual capacity of 50,000 tons, expected to generate sales of 1.5 billion yuan [23] - Huafeng Chemical plans to acquire two subsidiaries to integrate its polyurethane supply chain, with projected revenues exceeding 6.4 billion yuan in 2024 [23] - Tianchen Company signed a contract for a 100,000 tons/year bioethanol project in Egypt, marking its first venture into the North African market [24] - Kosemet announced a partnership with Shanghai Xinhai Biotechnology to develop bio-synthesized retinol for skincare products [25] Industry Financing Tracking - The synthetic biology sector has seen accelerated financing, with nearly 100 companies completing new funding rounds since the beginning of 2025 [28] - Zhongsheng Suyuan Biotechnology completed a B round financing of 235 million yuan, focusing on iPSC-derived cell therapies [28] - Korean company INTAKE raised approximately 9.2 million USD in a C round financing to develop precision fermentation proteins [29] Company R&D Directions - Jinbo Biotech received approval for its recombinant type III human collagen injection product, marking a breakthrough in high-end medical aesthetics [31] - CellX's mushroom protein received FDA GRAS certification, allowing it to enter the U.S. market [31] - MycoTechnology's truffle sweet protein product received FEMA GRAS certification, showcasing advancements in natural flavoring solutions [32] - Nourish Ingredients and Cabio Biotech successfully commercialized a precision fermentation fat product, enhancing the flavor of plant-based products [34]

Investment Rating - The report does not explicitly state an investment rating for the synthetic biology industry Core Insights - The synthetic biology sector is experiencing a global revolution, integrating into economic and social development to address major challenges such as health, climate change, and food security. The National Development and Reform Commission has issued the "14th Five-Year Plan for Bioeconomic Development," indicating a trillion-yuan market potential in the bioeconomy [4] Industry Market Dynamics - The synthetic biology index decreased by 9.66% to 1437.31 during the week of April 5-11, 2025, underperforming compared to the Shanghai Composite Index, which fell by 1.62%, and the ChiNext Index, which dropped by 4.21% [5][17] - The top five performing companies in the synthetic biology sector during this period were: - Novozymes (+27%) - Shandong Heda (+10%) - Yaxing Co. (+10%) - Pro Pharma (+3%) - Huafeng Chemical (+2%) [18] - The bottom five performing companies were: - Xinri Hengli (-18%) - Kasei Biotech (-12%) - Yaborn Chemical (-9%) - Berry Genomics (-7%) - Blue Biological (-6%) [22] Company Business Developments - Anhui Pucan launched the world's largest CO₂-based polycarbonate production facility, with an annual capacity of 50,000 tons, expected to generate sales of 1.5 billion yuan [23] - Huafeng Chemical plans to acquire two subsidiaries to integrate the polyurethane supply chain, with projected combined revenue exceeding 6.4 billion yuan in 2024 [23] - Tianchen Company signed a contract for a 100,000 tons/year bioethanol project in Egypt, marking its first venture into the North African market [24] Industry Financing Tracking - Synthetic biology companies are accelerating financing, with nearly 100 firms completing new rounds of funding since the beginning of 2025. Zhongsheng Suyuan Biotechnology raised 235 million yuan in its B round, focusing on iPSC-derived cell therapies [28][29] Company R&D Directions - Jinbo Biotech received approval for its recombinant type III human collagen injection product, marking a breakthrough in high-end medical aesthetics [31] - CellX's mushroom mycelium protein received FDA GRAS certification, allowing entry into the U.S. market [31] - MycoTechnology's truffle sweet protein ClearHT received FEMA GRAS certification, showcasing advancements in natural flavoring and health foods [32]