新疆中泰化学股份有限公司 八届二十七次董事会决议公告 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。 新疆中泰化学股份有限公司（以下简称"公司"或"中泰化学"）八届二十七次 董事会会议于2025年6月16日以电话、电子邮件等方式发出会议通知，于2025年 6月18日以通讯表决方式召开。会议应参加表决的董事7名，实际参加表决的董事 7名，会议的召开程序符合《公司法》和《公司章程》的规定。会议就提交的各 项议案形成以下决议： 一、逐项审议通过关于增补公司董事会成员的议案； 1、选举黄小虎先生为非独立董事 同意 7 票，反对 0 票，弃权 0 票 证券代码：002092 证券简称：中泰化学 公告编号：2025-036 债券代码：148437 债券简称：23 新化 K1 1 2、选举许鹏飞先生为非独立董事 同意 7 票，反对 0 票，弃权 0 票 根据《公司法》、《新疆中泰化学股份有限公司章程》等相关法律、法规的 规定，经公司董事会推荐，报提名委员会审核，提名黄小虎先生、许鹏飞先生为 第八届董事会非独立董事候选人。任期自股东会审议通过之日起至第八届董事会 任期届满之日 ...

债券代码:148437.SZ 债券简称:23 新化 K1 新疆中泰化学股份有限公司 主体评级展望调整的公告 本公司全体董事或具有同等职责的人员保证本公告内容不存在任何虚假记 载、误导性陈述或者重大遗漏,并对其内容的真实性、准确性和完整性承担个别 及连带责任。 一、评级调整情况 (一) 资信评级机构名称 联合资信评估股份有限公司(以下简称"联合资信")。 (二) 评级调整对象 新疆中泰化学股份有限公司(以下简称"公司"、"中泰化学"、"发行人") (三)调整前后的评级结论 近期,根据联合资信出具的《新疆中泰化学股份有限公司主体长期信用评级 报告》,公司主体信用评级维持 AA+,评级展望由"负面"调整为"稳定"。 (四)评级调整为稳定的原因 公司为国内氯碱化工行业龙头企业之一,依托新疆地区丰富的自然资源,分 别在氯碱化工和纺织业务构建了完整的产业结构,具备较强的规模优势。公司建 立了较为完善的法人治理结构,自出现违规事件并被监管处罚以来公司整改力度 很大。公司管理制度完善,管理水平明显提升。公司毛利率波动上升,显示公司 主业盈利能力有所提高。公司在建项目主要围绕现有主业,整体资产质量佳。2022 -2024年末, ...

Core Viewpoint - The special graphite industry is experiencing significant growth driven by increasing demand in various sectors such as photovoltaics, semiconductors, and new energy batteries, supported by government policies and technological advancements [1][13]. Industry Overview - Special graphite, characterized by a carbon content greater than 99.99%, is essential in strategic emerging industries due to its high strength, density, and purity [3]. - The demand for special graphite in China is projected to grow from 115,000 tons in 2019 to 250,000 tons by 2024, with a compound annual growth rate (CAGR) of 16.80% [1][13]. Market Demand and Supply - The production of special graphite in China increased from 60,000 tons in 2019 to 134,100 tons in 2023, with a slight decline expected in 2024 to 121,300 tons, reflecting a 9.5% decrease from the previous year [11]. - The market for isotropic graphite is dominated by fine structure graphite, which accounted for 111,616 tons in 2024, despite a 9.33% decline from 2023 [11]. Technological Characteristics - Special graphite materials possess key physical and chemical properties, including high volume density, compressive strength, and low resistivity, which are critical for various applications [5][6]. Policy Support - The Chinese government has implemented several policies to promote the development of the special graphite industry, including the inclusion of high-performance graphite in encouraged categories for investment [7][9]. Competitive Landscape - The special graphite industry in China is characterized by a relatively low concentration of large-scale enterprises, with key players including Wuxing New Materials, Chengdu Carbon Materials, and Ningxin New Materials [17][19]. - The industry is witnessing a shift towards domestic production of high-end graphite products, reducing reliance on imports [15][23]. Future Trends - The demand for high-end special graphite products is expected to increase, particularly in sectors like photovoltaics and lithium batteries, with annual growth rates projected to exceed 20% [26]. - Environmental policies are pushing the industry towards greener and more sustainable practices, emphasizing energy efficiency and resource recycling [24].

Core Viewpoint - Urumqi, as the capital of Xinjiang Uygur Autonomous Region, is a strategic hub for the "Belt and Road" initiative and is focusing on building a modern industrial system through the "Industrial Strong City" strategy, emphasizing advanced manufacturing, modern services, and urban agriculture [1][4][15]. Group 1: Economic Performance - Urumqi's GDP for 2024 is projected to reach 450.216 billion yuan, with a year-on-year growth of 5.3%, surpassing the national average [4][5]. - The primary industry is expected to achieve an added value of 32.47 billion yuan, growing by 6.6%; the secondary industry is projected to reach 1,327.33 billion yuan, with a growth of 10.8%; and the tertiary industry is anticipated to add 3,142.36 billion yuan, growing by 3.3% [5][7]. Group 2: Industrial Development - Urumqi is implementing the "5+2" modern industrial system, focusing on energy and chemical, equipment manufacturing, new materials, biomedicine, and electronic information, along with emerging industries like new energy and environmental protection [15][17]. - The city has seen a significant increase in industrial investment, with 138 industrial projects attracting a total investment of 105.66 billion yuan, marking a 25.8% increase year-on-year [7][9]. Group 3: New Quality Productive Forces - The concept of "New Quality Productive Forces" emphasizes innovation-driven development, characterized by high-tech, high-efficiency, and high-quality production, aligning with the new development philosophy [2][3][11]. - Urumqi is actively responding to national strategies by implementing policies that encourage the development of modern agriculture, green energy, and cultural tourism, among others [11][12]. Group 4: Policy Framework - The Urumqi government has introduced several policies to support the growth of new industries, including financial incentives for high-tech enterprises and measures to promote the development of industrial parks [11][12]. - The "Western Region Encouraged Industry Directory" has added 57 new encouraged industry items for Xinjiang, covering modern agriculture, green energy, and textile industries, providing strong policy support for regional industrial upgrades [11][12]. Group 5: Future Trends - Urumqi is focusing on high-end manufacturing and new material clusters, aiming to create three trillion-level advanced manufacturing clusters by 2025 [28][29]. - The city is also building a future industry ecosystem driven by "three new" initiatives, including commercial aerospace and low-altitude economy [30]. - Urumqi is committed to a green low-carbon transformation, with plans to increase the share of new energy installations to over 50% by 2025 [31].

Group 1: Company Support and Valuation Improvement - The controlling shareholder, Zhongtai Group, has supported the company through two share increases and provided industrial coordination and resource sharing to enhance overall competitiveness [2][3]. - The company has disclosed a valuation improvement plan on March 15, 2025, focusing on cost reduction and efficiency enhancement while promoting technological innovation and refined management [3][19]. - The company aims to increase the cash dividend ratio to at least 20% of the distributable profits in 2025, following the new national policies [6][19]. Group 2: Financial Performance and Challenges - The company reported a significant reduction in losses for 2024, with a net loss decrease of 1.9 billion yuan compared to the previous year [3][19]. - The management expenses and sales expenses are higher than peers due to differences in production scale, business layout, and product structure [10][19]. - The company’s net profit for Q1 2025 was -89.8 million yuan, a 49.28% reduction in losses compared to the same period last year [29][19]. Group 3: Production and Market Strategy - The company is focusing on stabilizing PVC production capacity and expanding product varieties to enhance profitability in the textile sector [11][19]. - The company has a production capacity of 880,000 tons/year for viscose fiber and is actively exploring new overseas markets [34][19]. - The company is currently upgrading its phenyl sulfide production facility, which has a capacity of 10,000 tons/year, but has not yet achieved mass production [4][19]. Group 4: Regulatory and Operational Updates - The company is in the process of renewing exploration rights for the Nanhua Coal Mine, with the environmental assessment still pending approval [12][19]. - The company has no current plans for equity financing and is focused on improving operational efficiency and market competitiveness [19][19]. - The company’s stock price has been affected by macroeconomic conditions and industry trends, with a current price-to-book ratio of 0.6 [19][19].

Core Viewpoint - Six ST stocks will be delisted from risk warnings and will resume trading on May 20, indicating improved financial conditions and compliance with regulatory requirements [2][4][8]. Group 1: Stocks Resuming Trading - ST Aonong will change its name to Aonong Biological and has received a standard unqualified audit report for its 2024 financials, showing a net asset of 2.566 billion and a net profit of 579 million [4]. - ST Mingjia will change its name to ST Mingjia Hui and continues to face other risk warnings due to negative net profit and low revenue, but has received approval to resume trading [5][6]. - ST Zhongtai, ST Shengda, and ST Muyou will also resume trading with name changes, having rectified previous compliance issues and received standard unqualified audit reports [8]. Group 2: Major Asset Restructuring Announcements - Xunbang Intelligent plans to acquire control of Wuxi Yindi Chip Microelectronics through a combination of share issuance and cash payments, focusing on the automotive chip sector [12]. - Huibo Yuntong intends to purchase 67.91% of Baode Computer Systems, aiming to enhance its competitive edge by integrating software and hardware solutions [13].

Investment Rating - The investment rating for the basic chemical industry is "Positive" (maintained) [1] Core Viewpoints - The report highlights the stability of the phosphate rock market and the significant price difference between domestic and international phosphate fertilizers, indicating a positive outlook for integrated phosphate chemical companies in terms of profitability and dividend increases [3] - The report emphasizes the supply-side disturbances in glyphosate, with current product prices and profit margins under pressure due to historical lows. It suggests that overseas supply disruptions combined with domestic industry adjustments could improve competitive dynamics and enhance the bargaining power of leading companies [5][24] Summary by Sections Industry Trends - The chemical industry index outperformed the CSI 300 index by 0.7% this week, with 63.9% of chemical stocks showing weekly gains [10][18] - The CCPI (China Chemical Product Price Index) increased by 3.78% to 4175 points as of May 15 [21] Key Product Tracking - The report notes a decrease in inventory days for polyester filament, with prices for POY, FDY, and DTY rising significantly [34][35] - Domestic urea prices have also increased, driven by export policy expectations [34] Recommended and Beneficiary Stocks - Recommended stocks include leading companies such as Xingfa Group, Yangnong Chemical, and Hebang Biotechnology in the glyphosate sector [5][24] - Beneficiary stocks include Jiangshan Co., New安股份, and Guangxin Co. [5][24] Glyphosate Supply and Pricing - Global glyphosate production capacity is 1.18 million tons per year, with China accounting for 68.6% of this capacity. Major domestic producers include Xingfa Group, Fuhua Chemical, and Xin'an Co. [26][30] - Glyphosate prices have been declining, with current prices and price differentials at historically low levels [30][32]

Summary of Key Points Core Insights - The report highlights the upcoming listings and trading activities of several companies on May 19, 2025, indicating a busy market day with multiple new entries [1][2][3]. Upcoming Listings - Company 001390 Guqi Fur Material will be available for online subscription on May 19, 2025 [1]. - Companies 301595 N Taili and 603014 N Weigao will officially list on the same day, with allocations for general institutional investors [1]. - Company 920060 Wanyuantong will also list on May 19, 2025, specifically for the public portion [1]. Suspension Announcements - Company 002092 ST Zhongtai and 002259 ST Shengda will be suspended for one day due to the announcement of the withdrawal of other risk warnings [2]. - The Invesco Great Wall S&P Consumer Select ETF (QDII) and Guotai S&P 500 ETF will also be suspended until 10:30 AM on May 19, 2025, to protect investor interests [2]. - Company 300506 *ST Mingjia will be suspended for one day following the announcement of the withdrawal of delisting risk warnings [2]. Special Suspensions - Company 000151 Zhongcheng Co. will be suspended due to plans for issuing shares to acquire assets and raise matching funds, effective from May 16, 2025 [3]. - Company 000584 *ST Gongzhi and 000622 *ST Hengli will also face suspensions due to potential delisting risks and failure to disclose periodic reports within the legal timeframe [3]. - Company 002336 *ST Renle will be suspended for one day due to the announcement of potential delisting risks [3].

证券代码：002092 证券简称：ST中泰 公告编号：2025-035 债券代码：148437 债券简称：23新化K1 新疆中泰化学股份有限公司 关于参加新疆辖区上市公司 2025 年投资者 网上集体接待日活动的公告 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。 新疆中泰化学股份有限公司董事会 二〇二五年五月十七日 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP，参 与本次互动交流，活动时间为 2025 年 5 月 23 日（周五）15:00-17:30。届时公司 高管将在线就公司 2024 年度业绩、公司治理、发展战略、经营状况、融资计划 和可持续发展等投资者关心的问题，与投资者进行沟通与交流，欢迎广大投资者 踊跃参与！ 特此公告。 为进一步加强与投资者的互动交流，新疆中泰化学股份有限公司（以下简称 "公司"）将参加由新疆上市公司协会根据新疆证监局工作部署，联合深圳市全 景网络有限公司举办的"2025 年新疆辖区上市公司投资者网上集体接待日活动"， ...

Group 1 - The company ST Zhongtai (002092.SZ) announced that its stock will be suspended for one day on May 19, 2025, and will resume trading on May 20, 2025 [1] - Starting from May 20, 2025, the company will remove other risk warnings, and its stock name will change from "ST Zhongtai" to "Zhongtai Chemical," while the stock code will remain "002092" [1] - After the removal of other risk warnings, the daily price fluctuation limit for the company's stock will increase from 5% to 10% [1]