Core Viewpoint - The legal opinion letter from Guangdong Xinda Law Firm confirms the legality of the 2024 annual general meeting of Rongsheng Petrochemical Co., Ltd., including the procedures for convening, holding, and voting at the meeting [2][3][4]. Group 1: Meeting Procedures - The annual general meeting was convened based on a resolution from the company's sixth board of directors meeting held on April 24, 2025, and the notice was published on April 25, 2025 [3][4]. - The meeting was held on May 16, 2025, at the specified location and time, with both on-site voting and online voting conducted as planned [3][4]. Group 2: Attendance and Voting - A total of 13 shareholders attended the meeting, representing 7,287,350,285 shares, which is 76.1296% of the total voting rights [6]. - Online voting was conducted with 340 shareholders participating, representing 149,895,139 shares, or 1.5659% of the total voting rights [6]. Group 3: Voting Results - The voting results showed overwhelming support for the proposed resolutions, with the majority of votes in favor exceeding 99% for several resolutions [7][8][11]. - Specific resolutions received votes such as 7,434,178,069 shares in favor (99.9588%) and 2,357,442 shares against (0.0317%) [7]. - The voting process adhered to the relevant laws and regulations, ensuring the legitimacy of the results [18].

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。 特别提示： 1、本次股东大会无增加、修改、否决议案的情况。 证券代码：002493 证券简称：荣盛石化 公告编号：2025-031 荣盛石化股份有限公司 2、本次股东大会不涉及变更以往股东大会已通过的决议。 3、公司于 2025 年 4 月 25 日在《证券时报》《证券日报》《中国证券报》 《上海证券报》和公司指定信息披露网站巨潮资讯网上刊登了《关于召开 2024 年年度股东大会的通知》（公告编号：2025-026）。 一、会议召开情况和出席情况 （一）召开情况 1、召开时间： 现场会议时间为：2025 年 5 月 16 日 14:30 开始。 网络投票时间为：通过深圳证券交易所交易系统进行网络投票的时间为 2025 年 5 月 16 日 9:15—9:25，9:30—11:30 和 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 5 月 16 日 9:15—15:00。 2、现场会议召开地点：杭州市萧山区益农镇浙江荣盛控股集团大楼十二楼 ...

本公司及监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。 一、监事会会议召开情况 证券代码：002493 证券简称：荣盛石化 公告编号：2025-035 荣盛石化股份有限公司 第七届监事会第一次会议决议公告 荣盛石化股份有限公司（以下简称"荣盛石化"）第七届监事会第一次会议 通知于 2025 年 5 月 8 日以电子邮件、书面形式发出。监事会会议于 2025 年 5 月 16 日以现场方式召开，经全体监事过半数推举，会议由监事孙国明先生主持，监 事会会议应出席的监事 3 人，实际出席会议的监事 3 人。本次监事会会议的召开 符合《公司法》等法律、行政法规、部门规章、规范性文件及《公司章程》的有 关规定。 二、监事会会议审议情况 经与会监事认真审议，充分讨论，以记名投票方式表决，会议通过了以下决 议： 1.《关于选举公司第七届监事会主席的议案》 内容摘要：选举孙国明先生为公司第七届监事会主席（简历见附件），任期 三年。自本次监事会通过之日起计算，至本届监事会期满之日止。 表决结果：同意 3 票，反对 0 票，弃权 0 票。 三、备查文件 1.《荣盛石化股份有限公司第七届监 ...

荣盛石化股份有限公司（以下简称"荣盛石化"）第七届董事会第一次会议通 知于 2025 年 5 月 8 日以电子邮件、书面形式发出。董事会会议于 2025 年 5 月 16 日以现场结合通讯方式召开，经全体董事过半数推举，会议由董事李水荣先生主 持，会议应出席的董事 9 人，实际出席会议的董事 9 人，其中，董事 Alharbi, Mitib Awadh M、项炯炯以通讯表决方式出席会议，其他董事以现场方式出席会议。荣 盛石化监事、高管列席会议。本次董事会会议的召开符合《公司法》等法律、行 政法规、部门规章、规范性文件及《公司章程》的有关规定。 二、董事会会议审议情况 证券代码：002493 证券简称：荣盛石化 公告编号：2025-034 荣盛石化股份有限公司 第七届董事会第一次会议决议公告 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。 一、董事会会议召开情况 经与会董事认真审议，充分讨论，以记名投票方式表决，会议审议通过了以 下议案： 1.《关于选举公司第七届董事会董事长的议案》 内容摘要：选举李水荣先生为公司第七届董事会董事长（简历见附件），任期 三年，自 ...

广东信达律师事务所 股东大会法律意见书 中国深圳福田区益田路6001号太平金融大厦11、12层 邮政编码：518038 11&12/F, TaiPing Finance Tower, 6001 Yitian Road, Futian District, SHENZHEN, CHINA 电话(Tel.)：(86 755)88265288 传真(Fax.)：(86 755)88265537 电子邮件(Email）：info@sundiallawfirm.com 网址(Website)：www.sundiallawfirm.com 关于荣盛石化股份有限公司 2024年年度股东大会的 法律意见书 信达会字[2025]第127号 致：荣盛石化股份有限公司 广东信达律师事务所（以下简称"信达"）接受荣盛石化股份有限公司 （以下简称"公司"）委托，指派信达律师出席公司2024年年度股东大会（以 下简称"本次股东大会"），对本次股东大会的合法性进行见证，并出具本 《广东信达律师事务所关于荣盛石化股份有限公司2024年年度股东大会的法律 意见书》（以下简称"《股东大会法律意见书》"）。 文件资料均是真实、准确、完整、有效的，不 ...

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。 证券代码：002493 证券简称：荣盛石化 公告编号：2025-033 荣盛石化股份有限公司 关于选举职工董事、职工监事的公告 职工董事简历： 俞凤娣女士：曾获杭州市劳动模范称号；历任绍兴县第一涤纶厂生技科技术 员、绍兴市第一化纤厂生技科科长、荣盛化纤集团有限公司假捻部经理、总经理 助理；现任浙江荣盛控股集团有限公司副总裁、荣盛石化股份有限公司董事。 职工监事简历： 徐永明先生：本科学历，高级经济师，历任荣盛化纤集团有限公司纺丝部经 理、总经理助理；现任荣盛石化股份有限公司监事、浙江永盛科技有限公司总经 理。 荣盛石化股份有限公司（以下简称"荣盛石化"）于 2025 年 5 月 16 日召开 职工代表大会，选举俞凤娣女士为第七届董事会职工董事，徐永明先生为第七届 监事会职工监事。（简历详见附件） 俞凤娣女士在荣盛石化控股股东任职，除上述关系外，上述人员与持有荣盛 石化 5%以上股份的股东、实际控制人、公司其他董事、监事、高级管理人员不存 在其他关联关系。 按照《公司章程》的规定，上述职工董事、职工监事将与荣盛石化 ...

证券代码：002493 证券简称：荣盛石化 公告编号：2025-032 荣盛石化股份有限公司 关于注销部分回购股份、减少注册资本暨通知债权人 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。 荣盛石化债权人可持证明债权债务关系存在的合同、协议及其他凭证的原件 及复印件前往荣盛石化申报债权。 1 1、债权人为法人的，需提供法人营业执照原件及复印件、法定代表人身份证 明文件；委托他人申报的，除上述文件外，还需提供法定代表人授权委托书和代 理人有效身份证的原件及复印件。 2、债权人为自然人的，需提供有效身份证件的原件及复印件；委托他人申报 的，除上述文件外，还需提供授权委托书和代理人有效身份证件的原件及复印件。 二、债权申报具体方式 1、申报时间：自 2025 年 5 月 17 日起 45 日内，现场申报为工作日上午 9:00- 11:00，下午 13:30-17:00。 荣盛石化股份有限公司（以下简称"荣盛石化"）于 2025 年 4 月 24 日、2025 年 5 月 16 日分别召开第六届董事会第二十三次会议、2024 年年度股东大会，审 议通过了《关于 ...

Investment Rating - The investment rating for Rongsheng Petrochemical is "Buy" (maintained) [1] Core Views - The refining industry is experiencing a recovery in profitability, with significant improvements in the company's performance in Q1 2025. The company reported a net profit attributable to shareholders of 588 million yuan, a quarter-on-quarter increase of 486.62%, and a non-recurring net profit of 618 million yuan, a quarter-on-quarter increase of 736.04% [6][38] - The report anticipates that the company's revenue for 2025-2027 will be 352.59 billion yuan, 370.22 billion yuan, and 388.73 billion yuan respectively, with net profits of 1.96 billion yuan, 4.12 billion yuan, and 6.26 billion yuan respectively. The expected EPS for the same period is 0.19 yuan, 0.41 yuan, and 0.62 yuan, corresponding to a PE ratio of 45.0, 21.4, and 14.1 times [6][39] Summary by Sections 1. Refining Industry Recovery - The crude oil cracking margin reached a low point in Q4 2024 but stabilized and began to recover in 2025. The average cracking margin was 1,231 yuan/ton in Q4 2024 and increased to 1,452 yuan/ton in Q1 2025, with further improvement expected in Q2 2025 [16][39] 2. Policy Impact on Fuel Oil - New policies regarding fuel oil have been introduced, including an increase in the import tax rate from 1% to 3% starting January 1, 2025. This is expected to increase processing costs for companies reliant on imported fuel oil, potentially leading to a gradual exit of marginal refining capacity from the industry [7][28] 3. Company’s Integrated Operations - Rongsheng Petrochemical is a leading producer of polyester, new energy materials, engineering plastics, and high-value-added polyolefins. The company has a globally leading integrated refining capacity, processing 40 million tons of crude oil annually. Strategic cooperation with Saudi Aramco has further solidified its market position [31][34] 4. Financial Forecasts and Investment Recommendations - The report has adjusted the revenue forecasts for 2025 downwards while introducing new forecasts for 2026 and 2027. The expected revenue and net profit figures indicate a strong recovery trajectory for the company, reinforcing the "Buy" rating [39]

Investment Rating - The investment rating for Rongsheng Petrochemical is "Buy" (maintained) [1] Core Views - The refining industry is experiencing a recovery in profitability, with significant improvements in the company's performance in Q1 2025. The company reported a net profit attributable to shareholders of 588 million yuan, a quarter-on-quarter increase of 486.62%, and a non-recurring net profit of 618 million yuan, a quarter-on-quarter increase of 736.04% [6][38] - The report anticipates that the company's revenue for 2025-2027 will be 352.59 billion yuan, 370.22 billion yuan, and 388.73 billion yuan respectively, with net profits of 1.96 billion yuan, 4.12 billion yuan, and 6.26 billion yuan respectively. The expected EPS for the same period is 0.19 yuan, 0.41 yuan, and 0.62 yuan, corresponding to a PE ratio of 45.0, 21.4, and 14.1 times [6][39] Summary by Sections 1. Refining Industry Recovery - The refining industry's profitability is on the rise, with the crude oil cracking margin stabilizing and improving from a low point in Q4 2024. The average cracking margin was 1,231 yuan/ton in Q4 2024 and increased to 1,452 yuan/ton in Q1 2025, with further improvement expected in Q2 2025 [16][28] 2. Policy Impact on Fuel Oil - Recent policies regarding fuel oil, including an increase in import tariffs and changes in consumption tax deductions, are expected to pressure marginal refining capacities, leading to a gradual exit of less efficient players from the market. This could enhance the profitability of remaining players [7][28][29] 3. Company’s Integrated Operations - Rongsheng Petrochemical is a leading producer in polyester, new energy materials, engineering plastics, and high-value-added polyolefins. The company has a globally leading integrated refining capacity, processing 40 million tons of crude oil annually, and has strengthened its market position through strategic partnerships, particularly with Saudi Aramco [31][34] 4. Financial Forecasts and Investment Recommendations - The report has adjusted the revenue and profit forecasts for 2025-2027, reflecting the current oil prices and refining industry conditions. The company is expected to see a significant recovery in profitability, supported by its comprehensive product matrix and cost control capabilities [39][41]

Investment Rating - The report maintains a "Positive" investment rating for the petrochemical industry [9] Core Insights - The petrochemical industry is experiencing a downturn in revenue and net profit due to pressures from real estate and infrastructure, as well as global trade tensions, but the industry is nearing historical lows in terms of profitability [2][6] - There is a notable divergence in profitability among sub-industries, with downstream processing, coal chemical, and gas chemical sectors showing positive growth, indicating structural investment opportunities [2][6] - Key investment opportunities are identified in high-quality growth, growth potential, and high dividend yield sectors [2][7] Summary by Sections Industry Performance Overview - The petrochemical sector's revenue and net profit are projected to decline in 2024 and Q1 2025, with overall revenue for 2024 estimated at approximately 8,210.4 billion yuan, a decrease of 3.02% year-on-year, and net profit at about 395.0 billion yuan, down 0.54% [21][22] - For Q1 2025, revenue is expected to be around 200.5 billion yuan, reflecting a 6.14% decline, with net profit decreasing by 4.43% [21][22] Sub-Industry Analysis - The performance of various sub-sectors in 2024 shows mixed results: - Petrochemical (-0.54%) - Oil and gas services and equipment (-7.61%) - Energy extraction (4.87%) - Oil and gas storage and sales (-35.41%) - Traditional refining (-19.10%) - Private refining (-38.09%) - Coal and gas chemicals (19.21%) - Downstream processing (117.14%) [6][22] - In Q1 2025, the performance continues to vary: - Petrochemical (-4.43%) - Oil and gas services and equipment (18.13%) - Energy extraction (-2.48%) - Oil and gas storage and sales (-2.43%) - Traditional refining (-28.31%) - Private refining (-9.55%) - Coal and gas chemicals (65.79%) - Downstream processing (55.26%) [6][22] Investment Focus - The report emphasizes three main investment themes: 1. Gradual recovery in the industry, favoring quality leading companies with rising volumes and prices [7] 2. Opportunities in high-end materials and technology import substitution, particularly in POE and ethylene technology [7] 3. Stable cash flow and high dividend yields, particularly in central and state-owned enterprises, which may see a revaluation [7][8] Recommended Stocks - Key stocks to focus on include: - High-quality growth: Satellite Chemical, Baofeng Energy, Zhongman Petroleum, New Natural Gas, and Guanghui Energy - High-end material import substitution: AkzoNobel and Dingjide - Beneficiaries of coal chemical investments in regions like Xinjiang and Shanxi: Aerospace Engineering - Recovery plays: Huajin Co., Hengli Petrochemical, Rongsheng Petrochemical, Dongfang Shenghong, and Hengyi Petrochemical - High dividend stocks: CNOOC, PetroChina, and Sinopec [8]