Group 1: Company Performance and Financials - The company's performance has been fluctuating due to the overall economic situation, with a current asset-liability ratio maintained at 50%-55% [2][3] - The forecast for the first half of the year indicates a net profit between 10 million and 20 million [5] Group 2: Production and Market Conditions - The production of main products such as soda ash and nitric acid is currently stable, with prices remaining steady [3] - Coal prices are expected to remain low for an extended period [3] Group 3: Future Development Plans - During the "13th Five-Year Plan" period, the company aims to expand into new materials in the downstream of olefins and enhance the industrial chain [3][4] - The company is investing in a new neopentyl glycol project, which will be used in various applications including polyester resins and plasticizers [4][5] Group 4: Hydrogen Utilization and Innovation - The company is exploring ways to increase the added value of hydrogen utilization, with ongoing research and development in this area [4][5] - There are current technical barriers in hydrogen fuel cell technology, which the company is monitoring [4]

Group 1: Company Overview and Production Capacity - The company is a comprehensive chemical enterprise with a gasification process as its core, producing urea with a capacity of approximately 300,000 tons, soda ash at 600,000 tons, ammonium chloride at 700,000 tons, nitric acid at 150,000 tons, and compound fertilizer at 1,600,000 tons (800,000 tons from local production and 800,000 tons from Lianshui) [3] - The new neopentyl glycol project is expected to commence production in the first half of next year, with an initial capacity of 30,000 tons [3] Group 2: Market Conditions and Pricing - Recent soda ash prices have rebounded due to environmental inspections and maintenance by related companies, with the company maintaining an optimistic outlook for the soda ash market [3] - The current market price for neopentyl glycol is around 14,000, with strong profitability potential for its downstream applications in the coatings industry [4] - The company anticipates a volatile upward trend in the price of butanol, primarily supplied by Yangtze Petrochemical [4] Group 3: Operational Insights - The company has completed its annual maintenance in August, with the impact on operational performance within expected limits [4] - The second phase of the raw material structure adjustment project is under construction, expected to be completed and put into production in the second half of next year, enhancing the production capacity of coal gasification equipment [4] Group 4: Sales and Market Expansion - In the first half of the year, the company achieved compound fertilizer sales of approximately 500,000 tons, with efforts to expand sales in Southeast Asia [5]

证券代码：002274 证券简称：华昌化工 江苏华昌化工股份有限公司投资者关系活动记录表 编号：20190704 | --- | --- | --- | --- | --- | |----------------|------------------------|----------------------------|----------------------------------------------------------|-------| | | | | | | | 投资者关系活动 | ■ | | 特定对象调研 □分析师会议 | | | 类别 | □ | | 媒体采访 □业绩说明会 | | | | □ | | 新闻发布会 □路演活动 | | | | □ 现场参观 | | | | | | □ | | 其他 （请文字说明其他活动内容） | | | 参与单位名称及 | 西南证券-黄景文 | | | | | 人员姓名 | 国联证券-吴程浩 | | | | | 时间 | 2019 年 7 月 4 | 14:00-16:00 | 日 | | | 地点 | 张家港市人民东路 | 11 号华昌东方广场 会议室 ...

证券代码：002274 证券简称：华昌化工 江苏华昌化工股份有限公司投资者关系活动记录表 编号：20180905 | --- | --- | --- | |----------------|------------------------------|--------------------------------------------------| | | | | | 投资者关系活动 | ■ | 特定对象调研 □分析师会议 | | 类别 | □ 媒体采访 □业绩说明会 | | | | □ 新闻发布会 □路演活动 | | | | □ 现场参观 | | | | □ | 其他 （请文字说明其他活动内容） | | 参与单位名称及 | 招商证券-石亮 | | | 人员姓名 | | | | 时间 | 2018 年 9 月 5 日 | 15:00-17:00 | | 地点 | 张家港市人民东路 | 11 号华昌东方广场 董事会办公室 | | 上市公司接待 | | 卢龙（董秘、董事）、费云辉（证券事务代表） | | 人员姓名 | | | | 投资者关系活动 | 1 | 、请介绍下公司的基本情况及新项目投产后产能情况？ | ...

证券代码：002274 证券简称：华昌化工 江苏华昌化工股份有限公司投资者关系活动记录表 编号：20190117 | --- | --- | --- | |----------------|------------------------------|--------------------------------------------| | | | | | 投资者关系活动 | ■ | 特定对象调研 □分析师会议 | | 类别 | □ 媒体采访 □业绩说明会 | | | | □ 新闻发布会 □路演活动 | | | | □ 现场参观 | | | | □ | 其他 （请文字说明其他活动内容） | | 参与单位名称及 | 中信建投-于洋 | | | 人员姓名 | | | | 时间 | 2019 年 1 月 17 | 日 9:30-11:00 | | 地点 | 张家港市人民东路 | 11 号华昌东方广场 董事会办公室 | | 上市公司接待 | | 卢龙（董秘、董事）、费云辉（证券事务代表） | | 人员姓名 | | | | 投资者关系活动 | 1 | 、请介绍下公司的基本情况及新产能？ | | 主要内容介绍 | 答 ...

Group 1: Company Overview - The company has a total production capacity of 660,000 tons for various chemical products, including 700,000 tons of soda ash and 150,000 tons of nitric acid, with an operating rate of approximately 70% [2] - The fertilizer production capacity includes 400,000 tons of urea and 160,000 tons of compound fertilizer [2] - New materials production includes 32,220 tons of polyols and 30,000 tons of neopentyl glycol [2] Group 2: New Materials Industry - The polyol products include normal butanol, octanol, isobutanol, normal butyraldehyde, and isobutyraldehyde [2] - The industry is experiencing significant capacity increases in environmentally friendly plasticizers over the past two years [2] - There is no new capacity for butanol and octanol expected in the next two years [2] Group 3: Pricing and Market Dynamics - The recent price increase for polyol products is attributed to recovery in demand post-pandemic, particularly from the third quarter [2] - The market for these products is characterized by transparency in pricing, with public reporting on various influencing factors [2] Group 4: Procurement and Share Buyback - Approximately 60% of propylene is sourced from Donghua Energy, with lower procurement costs and transportation fees; the remaining 40% is sourced externally [4] - As of now, the company has not repurchased any shares, with a previously disclosed buyback price not exceeding 6.5 yuan per share [4]

江苏华昌化工股份有限公司投资者关系活动记录表 编号：20210316 证券代码：002274 证券简称：华昌化工 | --- | --- | --- | |-------------------------|---------------------------|--------------------------------------------------------| | | | | | 投资者关系活动 | ■特定对象调研 □分析师会议 | | | 类别 | □媒体采访 □业绩说明会 | | | | □新闻发布会 □路演活动 | | | | □现场参观 | | | | □其他 | （请文字说明其他活动内容） | | 参与单位名称及 人员姓名 | 长城证券 - | 张玉龙，申万宏源-李楠竹，财通证券-朱乾栋 | | 时间 2021 | 年 3 月 16 日 | 14:30-16:00 | | 地点 公司会议室 | | | | 上市公司接待 人员姓名 | 卢龙（董秘、董事） | | | | 来访人员： | | | | | 我们已从公开资料及前几次披露的调研记录，对公司情况有所 | | | | 了解，并对相 ...

Group 1: Company Overview - The company primarily operates in three sectors: basic chemicals, fertilizers, and new materials. The production capacities include 660,000 tons of soda ash, 700,000 tons of ammonium chloride, and 150,000 tons of nitric acid (98% pure) [2] - Fertilizer production includes 400,000 tons of urea and 160,000 tons of compound fertilizer, with an operating rate of approximately 70% [2] - New materials include 32,220 tons of polyols (butanol, octanol, etc.) and 30,000 tons of neopentyl glycol [2] - The company has a total synthetic ammonia production capacity of 840,000 tons, with an annual external sales surplus of approximately 80,000 tons [2] Group 2: New Materials Industry Insights - The polyol products include normal butanol, octanol, isobutanol, normal butyraldehyde, and isobutyraldehyde [4] - The market for eco-friendly plasticizers has seen significant capacity increases in the past two years, and the chemical industry may experience cyclical benefits [4] - There will be no new capacity for butanol and octanol in the next two years [4] Group 3: Share Buyback and Stock Performance - As of now, the company has not repurchased any shares, with a previously disclosed buyback price not exceeding 6.5 CNY per share [4] - There is a risk that the buyback plan may not be implemented if the stock price rises [4] Group 4: Procurement and Financial Assets - Approximately 60% of propylene procurement comes from Donghua Energy, with the remaining 40% sourced externally [4] - The company holds over 8 million shares of Donghua Energy and 12 million shares of Su Yan Jing Shen, both of which have seen price increases compared to December 31, 2020 [4]

Group 1: Company Stability - The controlling shareholder of Jiangsu Huachang Chemical Co., Ltd. is Suzhou Huana, holding approximately 30% of shares, while the second-largest shareholder, Huachang Group, holds about 12% [2] - The overall management and shareholder structure is stable, ensuring the implementation of future development policies and plans [2] Group 2: Business Performance - The company's product prices are currently stable with fluctuations, continuing the trend from the first quarter [2] - There are no significant or abnormal factors affecting business performance, and financial data will be disclosed as per regulations once available [3] Group 3: Development Plans - The company aims to achieve over 1 billion in revenue and hopes to rank among the top three in the multi-alcohol industry [3] - Current production capacity for multi-alcohol products is 322,400 tons, with ongoing projects to expand production by 30,000 tons of new pentanediol and 300,000 tons of multi-alcohol [3] - The product structure currently consists of fertilizers, basic chemicals, and fine chemicals, each accounting for about one-third, with a goal to increase the share of fine chemicals to 50% [3] Group 4: Industry and Regulatory Impact - The company’s 300,000-ton multi-alcohol project is based on a surplus capacity of 100,000 tons of synthetic ammonia, which will reduce the amount of synthetic ammonia produced [4] - The company sources propylene primarily from external suppliers, with a significant portion purchased from Donghua Energy [4] - The company’s coal is also sourced externally, and rising coal prices have a certain impact on costs, but maintaining reasonable energy prices is beneficial for overall industry health [4]

编号：20210429 证券代码：002274 证券简称：华昌化工 江苏华昌化工股份有限公司投资者关系活动记录表 | --- | --- | --- | |-------------------------|--------------------------------|--------------------------------------------------------| | | | | | 投资者关系活动 | ■特定对象调研 □分析师会议 | | | 类别 | □媒体采访 □业绩说明会 | | | | □新闻发布会 □路演活动 | | | | □现场参观 | | | | □其他 | （请文字说明其他活动内容） | | 参与单位名称及 人员姓名 | 壹诺投资 - 李凌云、徐晶 | | | 时间 2021 | 年 4 月 29 日 | 15:00-16:00 | | 地点 公司会议室 | | | | 上市公司接待 人员姓名 | 卢龙（董秘、董事） | | | | 来访人员： | | | | | | | | | 我们已从公开资料及前几次披露的调研记录，对公司情况有所 | | | | | | | | ...