三维化学(002469) 董事和高级管理人员离职管理制度 山东三维化学集团股份有限公司 董事和高级管理人员离职管理制度 第一章 总则 第一条 为规范山东三维化学集团股份有限公司（以下简称"公司"或"本公 司"）董事、高级管理人员离职管理，保障公司治理稳定性及股东合法权益，根 据《中华人民共和国公司法》《上市公司章程指引》和《公司章程》的规定， 制定本制度。 第二条 本制度适用于公司全体董事（含独立董事）及高级管理人员的辞 任、任期届满、解任等离职情形。 第二章 离职情形与生效条件 第三条 董事可以在任期届满以前辞任。董事辞任应向公司提交书面辞职 报告，公司收到辞职报告之日辞任生效，公司将在 2 个交易日内披露有关情况。 如因董事的辞任导致公司董事会低于法定最低人数时，在改选出的董事就 任前，原董事仍应当依照法律、行政法规、部门规章和本章程规定，履行董事 职务。 独立董事在任期届满前可以提出辞职。独立董事辞职应当向董事会提交书 面辞职报告，对任何与其辞职有关或者其认为有必要引起公司股东和债权人注 意的情况进行说明。公司应当对独立董事辞职的原因及关注事项予以披露。 独立董事辞职将导致董事会或者其专门委员会中独立董 ...

金融界消息 截至2025年8月14日收盘，三维化学（002469）报收于8.85元，下跌0.56%，换手率4.09%， 成交量25.70万手，成交金额2.30亿元。 通过天眼查大数据分析，山东三维化学集团股份有限公司共对外投资了11家企业，参与招投标项目860 次，知识产权方面有商标信息63条，专利信息141条，此外企业还拥有行政许可35个。 资金流向方面，今日主力资金净流出2310.58万元，占比成交额10.04%。其中，超大单净流出1444.76万 元、占成交额6.28%，大单净流出865.83万元、占成交额3.76%，中单净流出流入1538.39万元、占成交 额6.68%，小单净流入772.19万元、占成交额3.36%。 来源：金融界 三维化学最新一期业绩显示，截至2025一季报，公司营业总收入5.48亿元、同比增长5.54%，归属净利 润5153.63万元，同比减少10.50%，扣非净利润5144.49万元，同比减少8.33%，流动比率3.854、速动比 率3.356、资产负债率17.85%。 天眼查商业履历信息显示，山东三维化学集团股份有限公司，成立于1994年，位于淄博市，是一家以从 事专业技术服 ...

Investment Rating - The report gives a "Buy" rating for the company, marking its first coverage [10][12]. Core Viewpoints - The company is a leading domestic comprehensive service provider in sulfur recovery and has developed proprietary "non-online furnace sulfur recovery technology." It is currently the largest designer and general contractor for sulfur recovery units in China. The dual benefits of resources and policies are expected to drive growth in modern coal chemical projects in Xinjiang, alongside ongoing refining transformation projects [5][7]. - The company has transitioned from an "engineering expert" to a "technology + engineering + industry" full-chain ecosystem, establishing a comprehensive chemical service provider with three synergistic segments: technology research and development, engineering services, and chemical manufacturing [7][19]. - The company is the largest producer of n-propanol in China and is expanding its new materials business, which is expected to significantly boost growth with the production of cellulose acetate and isooctanoic acid [5][9]. Summary by Sections Engineering - The company is deeply involved in the coal chemical sector, supported by national and local policies promoting the development of coal chemical projects in Xinjiang, with an estimated investment of over 800 billion yuan in the future [7][61]. - The replacement of outdated refining capacities will further drive the demand for sulfur recovery units, as new refining projects are initiated [8][10]. Chemical Sector - The company has established a comprehensive layout in the "aldehyde-alcohol-ester" chain, enhancing its industrial ecosystem. It is also a leading producer of n-butanol and isooctanol, with a flexible production model that allows for product switching based on market demand [9][24]. - The cellulose segment is expected to benefit from domestic substitution trends, with significant potential for performance elasticity [9][24]. Financial Performance - The company achieved a total revenue of 2.554 billion yuan in 2024, a year-on-year decrease of 3.88%. The revenue contributions from the chemical, engineering, and catalyst segments were 70.7%, 22.1%, and 6.8%, respectively [33][34]. - The projected net profits for 2025, 2026, and 2027 are 360 million yuan, 420 million yuan, and 560 million yuan, respectively, with corresponding PE ratios of 15.5X, 13.3X, and 10.0X based on the closing price on August 8, 2025 [10][12].

Overview of Guarantee Situation - The company has approved a guarantee for its subsidiary, Shandong Sanwei Longbang New Materials Technology Co., Ltd. (hereinafter referred to as "Sanwei Longbang"), with a maximum guarantee amount of RMB 200 million for its bank credit application in 2025 [2][3] - The guarantee includes various credit types such as long-term project loans, working capital loans, and other comprehensive credit services [2] Guarantee Progress - Recently, Qingdao Bank's Zibo Linzi Branch signed a comprehensive credit contract with Sanwei Longbang, agreeing to provide a maximum credit limit of RMB 40 million from August 8, 2025, to August 8, 2026 [2][3] - Out of this, RMB 20 million is allocated for domestic and foreign currency loans and export financing [2] Guarantee Details - The company signed a maximum guarantee contract with Qingdao Bank, providing a guarantee for debts formed under the comprehensive credit contract, with a maximum principal balance of RMB 20 million [3][7] - The guarantee covers principal, interest, penalties, and all costs incurred by the creditor in enforcing the debt [8] Basic Information of the Guaranteed Party - Sanwei Longbang is a limited liability company with a registered capital of RMB 37.5 million, established on May 9, 2023, and is 60% owned by the company [4][5] - The company has a good credit status and is not listed as a dishonest executor [6] Cumulative Guarantee Amount - After this guarantee, the total guarantee amount for the company and its subsidiaries will reach RMB 230 million, accounting for 8.44% of the company's audited net assets for 2024 [11] - The total guarantee balance is RMB 1.44 million, which is 0.05% of the company's audited net assets for 2024 [12]

Core Viewpoint - The company, Sanwei Chemical, announced that all external guarantees are solely for its controlling subsidiaries, with no other external guarantees in place [1] Summary by Categories Company Guarantees - Sanwei Chemical confirmed that it has no overdue guarantees, no guarantees involved in litigation, and no losses incurred from guarantees due to adverse judgments [1]

证券代码：002469 证券简称：三维化学 公告编号：2025-020 限内为三维隆邦与青岛银行临淄支行签署的《最高额综合授信合同》项下约定签 订的一系列业务合同所形成的债权提供最高额保证担保，担保的债权最高余额 （本金余额最高限额）折合人民币 2,000 万元。 | 担保 | 被担 | 担保方 | 被担保方 最近一期 | 截至目前对被 | 本次使用 | 本次担保后被 担保方剩余可 | 是否 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 持股比 | | 担保方的担保 | 担保额度 | | 关联 | | 方 | 保方 | 例 | 资产负债 | 余额（万元） | （万元） | 用担保额度 | 担保 | | 山东 | 山 东 | | 率 | | | （万元） | | | 三维 | 三 维 | | | | | | | | 化学 | 隆 邦 | | | | | | | | 集团 | 新 材 | 60% | 64.83% | 0.00 | 2,000 | 18,000 | 否 | | 股份 | 料 科 | | | | | | | | 有限 | 技 有 ...

Group 1 - The stock price of Sanwei Chemical (002469) closed at 8.73 yuan on August 7, 2025, with an increase of 0.81% and a turnover rate of 2.27% [1] - The company reported a total revenue of 548 million yuan for Q1 2025, representing a year-on-year growth of 5.54%, while the net profit attributable to shareholders decreased by 10.50% to 51.54 million yuan [1] - The company has a current ratio of 3.854, a quick ratio of 3.356, and a debt-to-asset ratio of 17.85% [1] Group 2 - Sanwei Chemical has made investments in 11 companies and participated in 858 bidding projects [2] - The company holds 63 trademark registrations and 140 patents, along with 35 administrative licenses [2]

Investment Rating - The report maintains a "Buy" rating for the industry, indicating a positive outlook for investment opportunities in the Xinjiang region [5][8][9]. Core Insights - The upcoming Fourth Central Xinjiang Work Conference in 2025, coinciding with the 70th anniversary of the Xinjiang Uyghur Autonomous Region, is expected to catalyze significant policy support and investment in infrastructure and industry [1][12]. - Xinjiang's strategic importance, energy security, and ethnic unity are highlighted as key factors for sustained national support for high-quality development in the region [2][4]. - Major transportation infrastructure projects, such as the China-Kyrgyzstan-Uzbekistan Railway and the New Tibet Railway, are set to accelerate, with significant investments projected [3][15]. - The coal chemical industry in Xinjiang is anticipated to see substantial growth, with over 800 billion yuan in planned investments by mid-2025, driven by national energy security needs [4][19]. Summary by Sections Investment Opportunities - The report emphasizes the potential for investment in Xinjiang due to upcoming policy support and infrastructure projects, particularly in transportation and coal chemical sectors [1][3][4]. - Key companies recommended for investment include major construction firms like China Railway, China Railway Construction, and local firms such as Xinjiang Communications Construction [8][23]. Transportation Infrastructure - Significant railway projects are underway, including the China-Kyrgyzstan-Uzbekistan Railway with an estimated investment of 8 billion USD and the New Tibet Railway with an investment of 96 billion yuan [3][15]. - The report suggests that these projects will benefit major construction companies and local firms involved in infrastructure development [8][15]. Coal Chemical Industry - The coal chemical sector is projected to attract over 800 billion yuan in investments, with a significant portion already underway [4][19]. - Key players in this sector include China Chemical Engineering, Donghua Technology, and Sanwei Chemical, which are expected to benefit from the acceleration of project developments [19][23].

Core Insights - The construction industry is expected to outperform the market in the second half of 2025, driven by improvements in asset quality and a potential recovery in demand [1][4] - Downstream demand remains weak, leading to accelerated balance sheet contraction among construction companies [1][4] - Infrastructure investment is anticipated to become a key driver for expanding domestic demand and stabilizing growth [3][4] Summary by Sections Industry Performance - In the first half of 2025, the total contract amount for new projects in the construction industry reached 25 trillion yuan, a year-on-year increase of 22.5%, although still significantly lower than levels in 2022-2023 [1][30] - The industry is experiencing a decline in new orders and revenue, but signs of a profitability turning point are emerging as some local construction companies accelerate the collection of receivables and repay existing debts [1][4] Inventory Cycle Perspective - The construction industry is nearing the end of a "passive inventory replenishment" phase, characterized by a lagged response of inventory fluctuations to changes in downstream demand [2][77] - Since 2021, the industry has entered a phase of passive inventory accumulation due to prolonged project repayment cycles and a concentration of PPP projects transitioning to operational phases [2][82] Infrastructure Investment - Infrastructure investment is seen as a critical measure to expand domestic demand and stabilize economic growth, especially in light of pressures on price indicators and the need for effective investment [3][4] - The government is expected to increase fiscal support for infrastructure projects, particularly in areas related to public welfare and energy security [3][4] Investment Recommendations - The report maintains a positive outlook for the construction sector in the second half of 2025, suggesting that asset quality improvements will align with demand recovery [4] - Recommended stocks include Yaxiang Integration, Zhongyan Dadi, China Railway Construction, and others, which are expected to benefit from the anticipated recovery in infrastructure investment [4][8]

资金流向方面，今日主力资金净流出1084.98万元，占比成交额10.87%。其中，超大单净流出4.55万 元、占成交额0.05%，大单净流出1080.43万元、占成交额10.83%，中单净流出流出111.13万元、占成交 额1.11%，小单净流入1196.11万元、占成交额11.99%。 金融界消息 截至2025年7月31日收盘，三维化学（002469）报收于8.35元，下跌2.22%，换手率1.89%， 成交量11.87万手，成交金额9977.49万元。 三维化学最新一期业绩显示，截至2025一季报，公司营业总收入5.48亿元、同比增长5.54%，归属净利 润5153.63万元，同比减少10.50%，扣非净利润5144.49万元，同比减少8.33%，流动比率3.854、速动比 率3.356、资产负债率17.85%。 通过天眼查大数据分析，山东三维化学集团股份有限公司共对外投资了11家企业，参与招投标项目856 次，知识产权方面有商标信息63条，专利信息139条，此外企业还拥有行政许可35个。 来源：金融界 天眼查商业履历信息显示，山东三维化学集团股份有限公司，成立于1994年，位于淄博市，是一家以从 事专业 ...