Group 1 - The chemical sector experienced a significant rebound, driven by the strength in oil and gas stocks, leading to widespread gains across the industry [1] - Xinghua Co. achieved a limit-up increase, marking its third consecutive day of gains over a seven-day period [1] - Other companies such as Six National Chemical, Zhongyida, Danhua Technology, and Bohai Chemical also reached their daily limit-up, indicating strong market performance [1]

Core Points - Xinghua Co., Ltd. experienced a limit down on the trading day, with a turnover rate of 9.08% and a total transaction amount of 468 million yuan, reflecting a price fluctuation of 9.67% [2] - Institutional investors net sold 98,900 yuan, while the total net selling by brokerage seats amounted to 4.87 million yuan [2] - The stock was listed on the Shenzhen Stock Exchange due to a daily price deviation of -9.40% [2] Trading Data - The top five brokerage seats accounted for a total transaction amount of 75.65 million yuan, with buying transactions at 35.34 million yuan and selling transactions at 40.31 million yuan, resulting in a net selling of 4.97 million yuan [2] - Among the brokerage seats, two institutional specialized seats were involved, with a total buying amount of 7.55 million yuan and a selling amount of 7.64 million yuan, leading to a net selling of 9,890 yuan [2] Fund Flow - The stock saw a net inflow of 2.72 million yuan from main funds, with a net outflow of 930,200 yuan from large orders and a net inflow of 3.65 million yuan from major orders [2] - Over the past five days, the main funds experienced a net outflow of 120 million yuan [2]

Core Viewpoint - Xinghua Co., Ltd. has announced that its subsidiary, Xinghua Chemical, has a methanol production capacity of 300,000 tons per year, with an expected production of 322,900 tons in 2024. The majority of this methanol will be used internally for the production of products such as methylamine, DMF, and ethanol, with external sales projected at approximately 62,300 tons and a sales revenue (excluding tax) of 122 million yuan in 2024 [1] Group 1 - The methanol production capacity of Xinghua Chemical is designed at 300,000 tons per year [1] - The expected methanol production for 2024 is 322,900 tons [1] - A significant portion of the methanol produced will be utilized for internal product needs [1] Group 2 - External sales of methanol are estimated to be around 62,300 tons in 2024 [1] - The projected sales revenue from external methanol sales is 122 million yuan (excluding tax) [1]

股票代码：002109 股票简称：兴化股份 编号：2025-022 陕西兴化化学股份有限公司 关于变更持续督导保荐代表人的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完 整，没有虚假记载、误导性陈述或重大遗漏。 2 / 2 本次保荐代表人变更后，公司向特定对象发行 A 股股票 持续督导保荐代表人为申佩宜先生和葛锐先生，持续督导期 至中国证券监督管理委员会和深圳证券交易所规定的持续 督导义务结束为止。 公司董事会对王新刚先生为公司向特定对象发行 A 股股 票项目和持续督导期间所做出的贡献表示衷心的感谢。 1 / 2 特此公告。 陕西兴化化学股份有限公司董事会 2025 年 6 月 10 日 陕西兴化化学股份有限公司（以下简称公司）于近日收 到粤开证券股份有限公司（以下简称粤开证券）出具的《关 于变更持续督导保荐代表人的函》。粤开证券作为公司 2020 年度向特定对象发行 A 股股票的保荐人，原指派申佩宜先生 和王新刚先生担任保荐代表人负责持续督导工作。现因王新 刚先生工作变动，不再担任公司持续督导的保荐代表人。为 保证持续督导工作的有序进行，粤开证券委派葛锐先生接替 王新刚先生担任公司保荐代表人， ...

本公司及董事会全体成员保证信息披露内容的真实、准确和完 整，没有虚假记载、误导性陈述或重大遗漏。 陕西兴化化学股份有限公司（以下简称"公司"）接到控股 子公司陕西延长石油榆神能源化工有限责任公司（以下简称"榆 神能化"）的通知，为了确保榆神能化后期生产装置的安全平稳 运行，结合乙醇装置催化剂使用周期，按照年度检修计划安排 例行停车检修。 榆神能化于 2025 年 6 月 5 日开始进行生产装置例行停车检 修，预计停车约 35 天，具体复产时间以实际检修时间为准。本 次停车检修是榆神能化的例行年度检修，对公司 6、7 月的经营 业绩会产生一定的影响，但对 2025 年经营业绩不会产生重大影 响。本次实施停产检修有利于榆神能化提升生产设备性能和运 行质量、确保生产装置安全高效运行，能够促进榆神能化生产 经营良性发展，符合公司和全体股东的利益。公司将持续关注 本次停车检修的进展，并根据检修、复产的实际情况，依照相 关规定及时履行信息披露义务，敬请广大投资者注意投资风险。 特此公告。 股票代码：002109 股票简称：兴化股份 编号：2025-021 陕西兴化化学股份有限公司 关于子公司榆神能化例行停车检修的公告 陕 ...

法律意见书 地址：西安市丈八一路 10 号中铁西安中心 32 层 电话：029-89840840 传真：029-89840848 邮编：710065 1. 上海市锦天城（西安）律师事务所 关于陕西兴化化学股份有限公司 2024 年度股东会的 上海市锦天城（西安）律师事务所 法律意见书 上海市锦天城（西安）律师事务所 关于陕西兴化化学股份有限公司 2024 年度股东会的 法律意见书 致：陕西兴化化学股份有限公司 上海市锦天城（西安）律师事务所（以下简称"本所"）接受陕西兴化化学 股份有限公司（以下简称"公司"或"兴化股份"）的委托，就公司召开 2024 年 度股东会（以下简称"本次股东会"）的有关事宜，根据《中华人民共和国公司 法》（以下简称"《公司法》"）、《上市公司股东会规则》等法律、行政法规、 部门规章、规范性文件以及《陕西兴化化学股份有限公司章程》（以下简称"《公 司章程》"）的有关规定，出具本法律意见书。 为出具本法律意见书，本所及经办律师依据《中华人民共和国证券法》、《律 师事务所从事证券法律业务管理办法》和《律师事务所证券法律业务执业规则》 等规定及本法律意见书出具日以前已经发生或者存在的事实，严 ...

股票代码：002109 股票简称：兴化股份 公告编号：2025-020 陕西兴化化学股份有限公司 2024 年年度股东大会决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没 有虚假记载、误导性陈述或重大遗漏。 2、现场会议地点：陕西省兴平市东城区迎宾大道陕西兴化化学股 份有限公司办公楼会议室。 3、会议召开方式：现场投票和网络投票相结合的方式。 1 / 5 特别提示： 1、本次股东大会无新增议案提交表决的情形，也无否决议案的情 形。 2、本次股东大会不涉及变更以往股东大会已通过决议的情形。 一、会议召开和出席情况 1、会议召开日期、时间： 现场会议召开时间：2025 年 5 月 23 日（星期五）14:30。 网络投票时间：2025 年 5 月 23 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 5 月 23 日 9:15～9:25、9:30～11:30、13:00～15:00；通过深 圳证券交易所互联网投票的具体时间为 2025年5月23日 9:15～15:00 期间的任意时间。 4、会议召集人：陕西兴化化学股份有限公司董事会。 5、会议主持人：董事长韩磊 ...

Financial Performance - In 2024, the company achieved an operating income of CNY 4.131 billion, a year-on-year increase of 11.89% [8] - The total profit was CNY -380 million, a year-on-year increase of 16.02% [8] - The net profit attributable to shareholders was CNY -380 million, a year-on-year increase of 7.84% [8] - Operating costs amounted to CNY 3.996 billion, a year-on-year increase of 5.78% [8] - The total period expenses reached CNY 320 million, a year-on-year increase of 35.58% [8] Cash Flow and Financial Stability - The net cash flow from operating activities increased by 26.87% in 2024 [3] - The company reported a 70% year-on-year decline in net cash flow from operating activities in 2024 [3] - Financial expenses increased by 38% year-on-year, with interest expenses exceeding 200% of net profit [9] Government Subsidies and Profit Dependency - Government subsidies accounted for over 150% of net profit in 2024, totaling CNY 2.605 million [3] - The company does not rely on non-recurring gains for profitability and aims to enhance self-sustaining profit capabilities [3] Management and Operational Efficiency - The management expense ratio increased by 2.4 percentage points year-on-year, with management expenses rising by 10.32% [3] - The sales expense ratio rose by 1.7 percentage points to 6.5%, while sales expenses decreased by 20.07% [5] - Accounts receivable turnover days increased by 35 days, with overdue accounts receivable over 90 days rising to 18% [6] Market Conditions and Industry Outlook - The chemical industry faced significant pressure due to weak demand and intensified competition, leading to a decline in product prices [10] - The company maintains a competitive advantage compared to peers despite the challenging market environment [10] - The future of the coal chemical industry is expected to focus on clean energy and high-end chemical products, aligning with national policies [12] Debt and Financing - Short-term borrowings increased by 55%, while long-term borrowings decreased by 30% [20] - The company emphasizes maintaining a reasonable funding structure and managing cash flow safety [20]

股票代码：002109 股票简称：兴化股份 编号：2025-019 陕西兴化化学股份有限公司 关于参加"2025 年陕西辖区上市公司投资者 集体接待日暨 2024 年度业绩说明会"的公 告 网址：http://rs.p5w.net 二 、投资者参与方式 本公司及董事会全体成员保证信息披露内容的真实、准确和完 整，没有虚假记载、误导性陈述或重大遗漏。 为促进上市公司规范运作、健康发展，增强上市公司信 息透明度，加强与广大投资者沟通交流，进一步提升投资者 关系管理水平，陕西上市公司协会在中国证券监督管理委员 会陕西监管局指导下，联合深圳市全景网络有限公司举办 "2025 年陕西辖区上市公司投资者集体接待日暨 2024 年度业 绩说明会"。 届时，陕西兴化化学股份有限公司（以下简称公司）高 管人员将通过互动平台与投资者进行网络沟通和交流，欢迎 广大投资者踊跃参加！ 一、业绩说明会相关安排 活动时间：2025 年 5 月 20 日（星期二）15:00～17:00。 活动地址："全景路演" 1 / 2 投资者可于 2025 年 5 月 20 日 15:00～17:00 登录"全 景路演"（http://rs.p5w.n ...

Group 1: Industry Outlook - The coal chemical industry is shifting towards new coal chemical processes, focusing on clean energy and chemical products as target outputs [3] - The development of large industrial bases is essential for the future of the coal chemical industry, aligning with national policies promoting modern coal chemical industry [3] - The industry is expected to evolve towards high-end, refined, green, and cluster-based production [3] Group 2: Company Performance - In 2024, the chemical industry faced low demand and intensified competition, leading to a decline in product prices and significant operational pressure for coal chemical companies [4] - Despite challenges, the company has maintained a relative competitive advantage compared to peers, with specific details available in the 2024 annual report [4] - In Q1 2025, the company experienced a significant improvement in operating performance compared to the same period in 2024, aided by a decrease in coal prices [6] Group 3: Growth Strategies - The company is focused on sustainable development through internal management improvements and external acquisitions to enhance its risk resilience and long-term stability [5] - Cost reductions from falling coal prices have positively impacted the company's product costs, although export challenges remain due to the US-China tariff conflict [6]