Group 1: Company Performance - In the first half of 2025, the company focused on its core business, implementing a strategy of "sales-driven production and efficiency-driven sales," leading to improved profitability [2] - The company has controlled expenses and enhanced compliance governance, resulting in a continuous improvement in profitability for the first half of 2025 [2] Group 2: Market Conditions - The domestic PVC market has shown a fluctuating downward trend, primarily driven by supply-demand imbalances [2] - In early May, PVC prices rebounded due to improved macroeconomic expectations and temporary easing of tariff policies, but prices fell again as market fundamentals took precedence [2] - The viscose staple fiber market is under pressure due to weak end-consumer demand, leading to a decline in procurement enthusiasm among manufacturers [3] - Despite a slight recovery in downstream demand, the overall market remains weak, putting continued pressure on prices [3] Group 3: Project Development - The company is actively promoting project implementation, with the new methanol project expected to be operational in 2025, currently producing qualified products [3] - The BDO project is still under construction, with production balance and auxiliary facilities being progressively put into operation [3] Group 4: Production Capacity - The company has a total PVC production capacity of 2.6 million tons/year, distributed as follows: Fukang Energy 920,000 tons/year, Huatai Heavy Chemical 830,000 tons/year, Tuokexun Energy Chemical 300,000 tons/year, and Shengxiong Energy 550,000 tons/year [3] - The total caustic soda production capacity is 1.86 million tons/year, with Fukang Energy at 660,000 tons/year, Huatai Heavy Chemical at 580,000 tons/year, Tuokexun Energy Chemical at 220,000 tons/year, and Shengxiong Energy at 400,000 tons/year [3] - The viscose fiber production capacity totals 880,000 tons/year, with Kurle Textile at 390,000 tons/year, Alar Textile at 340,000 tons/year, and Xingtai Fiber at 150,000 tons/year [3]

Group 1 - The company announced the resignation of Chairman Chen Chen and General Manager Jiang Jun due to work adjustments, with both no longer holding any positions in the company or its subsidiaries after their resignations [1][2] - The board of directors approved the appointment of Xu Pengfei as the new General Manager and the addition of Huang Xiaohu as a non-independent director, effective from the date of the shareholders' meeting approval [2][3] Group 2 - Jiang Jun held 90,000 shares in the company, including 60,000 shares from a restricted stock incentive plan, and will comply with relevant regulations regarding stock trading and management [2] - Huang Xiaohu, born in 1980, has extensive experience within the company and currently serves as the Party Secretary of Xinjiang Zhongtai Chemical Co., Ltd., holding 60,000 shares from a restricted stock incentive plan [3][4] - Xu Pengfei, born in 1983, has a strong background in production management and currently serves as the Deputy Secretary of the Party Committee and General Manager of the company, with no shares held in the company [4][5]

证券代码：002092 证券简称：中泰化学 公告编号：2025-037 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 关于董事、总经理工作调整暨增补董事及聘任总经理的公告 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。 一、董事、总经理调动情况 公司于 2025 年 6 月 18 日召开八届二十七次董事会审议通过了《关于增补 公司董事会成员的议案》《关于聘任许鹏飞先生为公司总经理的议案》，根据《公 司法》《深圳证券交易所股票上市规则》等法律法规及《公司章程》的有关规定， 经公司董事会提名委员会资格审查，同意增补黄小虎先生、许鹏飞先生为公司第 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 期届满之日止。董事会中兼任公司高级管理人员以及由职工代表担任的董事人数 总计未超过公司董事总数的二分之一。经董事会推荐，报提名委员会资格审查， 同意聘任许鹏飞先生为公司总经理，任期自董事会审议通过之日起至本届董事会 任期结束止。 特此公告。 附：黄小虎先生、许鹏飞先生简历 新疆中泰化学股份有限公司董事会 二〇二五年六月十 ...

证券代码：002092 证券简称：中泰化学 公告编号：2025-037 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 关于董事、总经理工作调整暨增补董事及聘任总经理的公告 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。 一、董事、总经理调动情况 新疆中泰化学股份有限公司（以下简称"公司"或"中泰化学"）董事会于 近日收到陈辰先生、江军先生的辞职报告，董事长陈辰先生因工作调整辞去第八 届董事会董事长、董事及战略委员会委员职务，仍在公司控股股东新疆中泰（集 团）有限责任公司（以下简称"中泰集团"）任职；董事江军先生因工作调动辞 去第八届董事会董事、总经理及战略委员会委员职务，在中泰集团下属公司任职。 辞职后，陈辰先生、江军先生不再担任中泰化学及控股子公司任何职务。根据《公 司法》、《深圳证券交易所自律监管指引第 1 号——主板上市公司规范运作》以及 《公司章程》等有关规定，陈辰先生、江军先生辞职不会导致公司董事会成员低 于法定最低人数，也不会影响公司的正常生产经营，辞职报告自送达董事会之日 起生效。 截至本公告披露日，江军先生持有公 ...

证券代码：002092 证券简称：中泰化学 公告编号：2025-038 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 （一）股东会名称：2025 年第二次临时股东会 （二）会议召集人：公司董事会 （三）本次股东会由公司董事会提议召开，会议的召集程序符合《公司法》、 《深圳证券交易所股票上市规则》等法律、法规、规范性文件及《公司章程》的 规定。 （四）会议时间： 1、现场会议时间为：2025 年 7 月 4 日上午 12:00 2、网络投票时间为：2025 年 7 月 4 日，其中通过深圳证券交易所交易系统 进行网络投票的具体时间为：2025 年 7 月 4 日上午 9:15-9:25，9:30-11:30，下午 13:00-15:00；通过深圳证券交易所互联网投票系统投票的具体时间为：2025 年 7 月 4 日上午 9:15 至 2025 年 7 月 4 日下午 15:00 期间的任意时间。 关于召开2025年第二次临时股东会通知的公告 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。 根据新疆中泰化学股份有限公司（以下简称"公 ...

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].