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]

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。 特别提示： 证券代码：002092 证券简称：ST中泰 公告编号：2025-034 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 关于撤销其他风险警示暨停复牌的公告 1、新疆中泰化学股份有限公司（以下简称"公司"、"中泰化学"）股票交易 于 2025 年 5 月 19 日停牌一天，于 2025 年 5 月 20 日开市起复牌。 2、公司股票自 2025 年 5 月 20 日开市起撤销其他风险警示，证券简称由"ST 中泰"变更为"中泰化学"，证券代码仍为"002092"，撤销其他风险警示后， 公司股票交易的日涨跌幅限制由 5％变为 10%。 3、证券代码：002092 4、撤销其他风险警示的起始日：2025 年 5 月 20 日 5、公司股票停复牌起始日：公司股票将于 2025 年 5 月 19 日停牌一天，2025 年 5 月 20 日开市起复牌。 6、撤销其他风险警示后，公司股票交易的日涨跌幅限制由 5%变为 10%。 二、公司股票被实施其他风险警示的情况 2024 年 3 月 27 ...

证券代码：002092 证券简称：ST中泰 公告编号：2025-033 的《行政处罚事先告知书》（〔2024〕3 号）、（〔2024〕5 号）。2024 年 5 月 根据《深圳证券交易所股票上市规则》（2024 年修订）第 9.8.1 条第（八） 项"根据中国证监会行政处罚事先告知书载明的事实，公司披露的年度报告财务 指标存在虚假记载，但未触及本规则第 9.5.2 条第一款规定情形，前述财务指标 包括营业收入、利润总额、净利润、资产负债表中的资产或者负债科目"，及《关 于发布 <深圳证券交易所股票上市规则 ensp="ensp" 年修订="年修订"> 的通知》第七条"新规则 施行前收到行政处罚事先告知书，载明公司披露的年度报告财务指标存在虚假记 载，但在新规则施行后收到行政处罚决定书的同样予以适用，自收到行政处罚决 定书之日起对公司股票交易实施其他风险警示"的规定，中泰化学股票 2024 年 5 月 20 日开市起停牌，2024 年 5 月 21 日开市起复牌，并被实施其他风险警示 （ST），证券简称由"中泰化学"变更为"ST 中泰"，证券代码仍为"002092"，股票 交易日涨跌幅限制为 5％。 债券代码： ...

证券代码：002092 证券简称：ST中泰 公告编号：2025-033 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 八届二十六次董事会决议公告 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"）八届二十六次董事会于 2025 年 5 月 7 日以电话、电子邮件等方式发出会议通知，于 2025 年 5 月 12 日以通讯 表决方式召开。会议应参加表决的董事 9 名，实际参加表决的董事 9 名。会议的 召开程序符合《公司法》和《公司章程》的规定，会议就提交的议案形成以下决 议： 一、会议以赞成票 9 票，反对票 0 票，弃权票 0 票，审议通过关于新疆中泰 化学股份有限公司申请撤销其他风险警示的议案。 公司八届二十六次董事会审议通过《关于新疆中泰化学股份有限公司申请撤 销其他风险警示的议案》，董事会同意公司将于 2025 年 5 月 16 日向深圳证券交 易所申请撤销股票交易其他风险警示。具体情况如下： （一）公司股票被实施其他风险警示的情况 2024 年 3 月 27 日，中泰化学及相关责任 ...

Core Viewpoint - In 2024, China's chemical industry carbon emissions are projected to be approximately 1.58 billion tons, reflecting a year-on-year increase of 1.28%, with a deceleration in growth rate compared to 2023 [1][12] Industry Overview - Carbon neutrality technology in the chemical industry aims to reduce CO2 emissions during production or achieve net-zero emissions through carbon capture, utilization, and storage (CCUS) [2] - The carbon neutrality technologies can be categorized into carbon reduction, zero-carbon, negative carbon, and circular economy technologies [2] Industry Development History - The development of carbon neutrality technology in China's chemical industry has progressed through three stages: introduction and exploration (before 2015), planning (2015-2020), and implementation and promotion (2021-present) [4] - Since 2021, significant advancements have been made in energy consumption and carbon emission control, with major companies like Sinopec actively participating in carbon neutrality initiatives [4] Industry Chain - The upstream of the carbon neutrality technology industry chain includes raw materials, equipment, and technical services, while the midstream involves the implementation of carbon neutrality technologies [6] - Key equipment includes carbon capture devices, low-carbon energy utilization devices, and high-efficiency energy-saving devices [6] Current Industry Status - In 2024, China's total CO2 emissions are expected to be 12.6 billion tons, remaining stable compared to 2023, with GDP growth of 5.0% and a decrease in carbon emission intensity by 3.4% [10] - The increase in non-fossil energy consumption and the growth of clean energy generation are contributing to the transition away from fossil fuels [10] Key Enterprises - Major companies in the sector include China National Chemical Corporation, Wanhua Chemical, and Zhongcai Energy, focusing on carbon capture and low-carbon technologies [18][20] - Wanhua Chemical has made significant strides in carbon neutrality technology, expanding into new materials and renewable energy sectors [18] Industry Development Trends - The chemical industry is expected to accelerate technological innovation and green transformation, with a focus on replacing traditional fossil materials with bio-based and renewable resources [22] - Integration of the industry chain and collaborative development will be emphasized, with companies extending their operations from raw materials to downstream fine chemical products [23] - The market landscape will shift significantly under carbon neutrality policies, with increased attention on new energy materials and carbon capture technologies [24]

Core Viewpoint - The company, Xinjiang Zhongtai Chemical Co., Ltd., is addressing inquiries from the Shenzhen Stock Exchange regarding its 2024 annual report, particularly concerning previous financial misstatements and the subsequent corrective actions taken [1][2]. Financial Corrections and Compliance - The company acknowledged inaccuracies in financial data for the years 2020 to 2022, leading to restatements of financial reports for those periods and the first three quarters of 2023 [2][3]. - A special audit report from Zhongxinghua Accounting Firm confirmed that the company's corrections comply with relevant accounting standards and accurately reflect the prior errors [3][4]. - The company has submitted a written rectification report to the Xinjiang Securities Regulatory Bureau, indicating that all issues cited in the administrative penalty have been addressed [4]. Risk Warning and Remediation Plans - The company plans to apply for the removal of the risk warning on its stock, having met the conditions outlined in the revised Stock Listing Rules, including the completion of financial restatements and a 12-month period since the administrative penalty [5][6]. - Legal opinions confirm that the company is on track to meet the necessary conditions for this application [5]. Non-Operating Fund Occupation - As of the end of 2023, the company reported a non-operating fund occupation of 783.13 million yuan, which has since been fully repaid [6][7]. - The company detailed its non-operating transactions with subsidiaries, confirming that these transactions do not constitute financial assistance or fund occupation violations [8][9]. Debt and Financial Obligations - The company reported a total external guarantee amount of 236.20 billion yuan as of January 31, 2025, which is 104.05% of its latest audited net assets [12][20]. - The company’s debt structure includes significant short-term and long-term borrowings, with a total liability of 489.78 billion yuan, reflecting an increase from the previous year [20][21]. Industry Comparison - The company's guarantee total as a percentage of net assets is higher than some peers in the industry, attributed to its capital-intensive operations and the need for substantial external financing for projects [18][19]. - The company maintains a competitive position in the chlor-alkali and textile sectors, with a strong focus on optimizing resource allocation and enhancing operational efficiency [19].