证券代码：002539 证券简称：云图控股 公告编号：2025-037 成都云图控股股份有限公司 关于完成工商变更登记的公告 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。 成都云图控股股份有限公司（以下简称"公司"）于 2025 年 4 月 25 日召开的 第六届董事会第三十一次会议和 2025 年 5 月 6 日召开的 2024 年年度股东大会、 职工代表大会以及第七届董事会第一次会议，分别审议通过了《关于变更经营范 围的议案》《关于修订<公司章程><董事会议事规则><股东大会议事规则>的议 案》以及董事会换届选举、高级管理人员聘任的相关议案，同意公司变更经营范 围、修订《公司章程》以及同意选举第七届董事会成员、聘任高级管理人员等事 项，具体内容详见公司 2025 年 4 月 26 日、2025 年 5 月 7 日刊登于《中国证券 报》《证券时报》《上海证券报》和巨潮资讯网（http://www.cninfo.com.cn）上 的相关公告。 类型：股份有限公司（上市、自然人投资或控股） 成立日期：1995 年 8 月 31 日 法定代表人：牟嘉云 住所：四 ...

Investment Rating - The report maintains a "Recommended" rating for the chemical industry [1]. Core Insights - The report highlights the potential revaluation of phosphate rock value due to ongoing supply-demand tensions, with increasing demand for phosphate fertilizers and lithium iron phosphate batteries [6][4]. - The chemical industry is expected to enter a restocking cycle in 2025, driven by low inventory levels and improving profitability among leading chemical companies [5][27]. - The report emphasizes the expansion of phosphate production capacity by Batian Co., which is set to increase its phosphate rock extraction capacity to 2 million tons per year [4][6]. Summary by Sections Core Target Tracking - The report tracks key companies in the chemical sector, including Batian Co., which is expanding its phosphate production capacity significantly [4][6]. - It also notes the performance of various chemical products, with a focus on price increases for butadiene and polyester filament due to favorable market conditions [10][14]. Market Observation - The chemical sector has shown a relative performance of 6.7% over the past month, outperforming the CSI 300 index [2]. - The report indicates that the chemical industry is experiencing a recovery phase, with several companies poised for growth due to favorable market dynamics [5][27]. Data Tracking - The report provides detailed tracking of price movements for key chemical products, including butadiene, polyester filament, and various fertilizers, indicating a general upward trend in prices [10][12][17]. - It also highlights the current chemical industry sentiment index at 93.10, reflecting a positive outlook for the sector [6][33]. Investment Recommendations - The report suggests focusing on companies with low-cost expansion capabilities, such as Wanhua Chemical and various tire manufacturers, as well as those benefiting from rising product prices [5][7]. - It emphasizes the importance of high dividend yield companies in the chemical sector, particularly state-owned enterprises with stable financials [8][29].

"粮食的粮食"价格高位波动 进入旺季，尿素市场新一轮涨价行情启动。 5月以来，尿素期现价格持续上涨，刷新近半年新高，截至5月16日收盘，主力合约价格逐步回落至1877元/吨。 现货市场上，尿素价格波动较大，南华期货统计分析，目前主流区域中小颗粒尿素价格参约1820～1860元/吨。银河期货研究报告称，随着尿素进入需求旺 季，氮肥生产将全面启动，同时出口政策预期持续扰动尿素价格持续上涨，后期走势需进一步关注出口信息变动影响。 作为"粮食的粮食"，尿素是目前农业上使用量最多的高效氮肥，受天然气供应短缺、环保限产、煤价及国际氮肥市场价格上涨等因素影响，尿素价格波动成 为企业承储面临的问题。 "一直以来我国实施化肥淡季商业储备制度，不过这类储备项目的承储企业一般需保障化肥库存约3个月在库。"行业人士告诉记者，在此期间，储备化肥存 在价格下跌风险。对此，2021年郑商所推出尿素"商储无忧"项目，对参与国家商业化肥储备并存在风险对冲需求的企业提供套期保值的资金支持。当前2025 年度"商储无忧"项目正有序开展，基本做到了尿素主要产销省及粮食产区全覆盖。 "去年国储中标时尿素价格较高，但之后价格一路下跌，最低跌至1500元 ...

国内30%品位磷矿石市场均价走势（元/吨） ◎记者 刘立 今年以来，国内磷矿石市场供需延续偏紧格局。据百川盈孚消息，截至今年5月14日，国内30%品位磷 矿石均价为1020元/吨，年内涨幅为0.2%，同比上涨1.09%。 "随着新能源、节水农业等产业链下游需求的快速增长，市场对磷矿石的需求扩张迅速。为了优化成本 结构，近年来，多家磷化工企业在积极向产业链上游布局，谋求磷矿资源，从而形成上游磷矿石生产， 下游高精磷化工协同发展的一体化产业布局，以更好地支撑业绩增长。"近日，有磷化工上市公司相关 负责人对上海证券报记者表示。 国信证券在近期研报中表示，磷化工行业的景气度取决于磷矿石价格的景气度，看好磷矿石长期价格中 枢维持较高水平。 为何近两年虽然有新增产能投产，磷矿石供需仍持续偏紧？有业内人士告诉记者，近两年来，我国可开 采磷矿品位下降，开采难度和成本提升，而新增产能投放时间周期较长。截至目前，30%品位磷矿石市 场价格在900元/吨的高价区间已运行近两年。从下游应用领域和消费构成上看，超过70%的磷矿用于生 产磷肥（包括磷酸一铵、磷酸二铵以及重过磷酸钙等）。而近年来，锂电成为磷矿石消费最大的增量需 求。中国化 ...

Core Viewpoint - The report highlights the stability of phosphate rock prices at high levels, with orderly production across major domestic production areas and a tight supply of high-grade phosphate rock [2][4]. Group 1: Production and Supply - In 2024, China's phosphate rock production is projected to reach 113.53 million tons, an increase of 8.33 million tons or 7.8% year-on-year, with Hubei, Guizhou, Yunnan, and Sichuan accounting for 40%, 20%, 25%, and 14% of the total production respectively [2][3]. - The import of phosphate rock in 2024 is expected to be 2.07 million tons, an increase of 660,000 tons year-on-year, with an average import price of $93.9 per ton [2][3]. - Domestic production and transportation of phosphate rock are running smoothly, with specific regional conditions noted: Yunnan's rock is primarily for local consumption, Guizhou faces circulation restrictions, Sichuan has stable long-term supply, and Hubei has resumed normal production after a temporary halt [2][3]. Group 2: Price Trends - As of May 9, 2024, the average market prices for domestic phosphate rock of 30%, 28%, and 25% grades are 1,020, 947, and 771 RMB per ton respectively [2][3]. - The prices of downstream products such as monoammonium phosphate (MAP) and diammonium phosphate (DAP) are significantly lower than export prices, indicating a price disparity that may affect domestic market dynamics [3][4]. Group 3: Market Outlook - The report suggests that the increasing barriers to phosphate mining and stricter environmental regulations will limit the supply growth of phosphate rock, maintaining a high level of market stability [4]. - The profitability of integrated fertilizer companies is expected to improve, with cash dividends likely to increase due to favorable market conditions and price support from raw materials like sulfur and sulfuric acid [4].

Investment Rating - The investment rating for the basic chemical industry is "Positive" (maintained) [1] Core Viewpoints - The report highlights that the price of phosphate rock remains stable at a high level, with supply tight for high-grade ores. The production of phosphate rock in China is expected to increase, with a year-on-year growth of 7.8% in 2024, reaching 113.53 million tons [4][10] - The report suggests that the profitability of integrated fertilizer companies is expected to improve due to the high price of phosphate fertilizers and the significant price difference between domestic and international markets [6] Summary by Sections Phosphate Rock Production and Pricing - In 2024, China's phosphate rock production is projected to be 113.53 million tons, an increase of 8.33 million tons year-on-year, with a growth rate of 7.8% [4][10] - The average price of domestic phosphate rock of various grades as of May 9 is 1020, 947, and 771 RMB/ton [5] Fertilizer Market Dynamics - The consumption share of phosphate fertilizers in 2024 is expected to be 60% for monoammonium phosphate, 12% for wet-process phosphoric acid, and 11% for phosphates [5] - The average market price for domestic monoammonium phosphate and diammonium phosphate is 3,140 and 3,715 RMB/ton, respectively, which is lower than the export prices [5] Profitability Outlook - The report anticipates that the profitability of integrated phosphate chemical leading companies will improve, with cash dividends expected to increase due to the high barriers to phosphate mining and stricter environmental regulations [6] - Recommended stocks include Xingfa Group, Yuntianhua, and Chuanheng Co., which have significant phosphate production capacities [6]

Investment Rating - The report maintains an "Outperform" rating for the potassium and phosphate chemical industry [5][6]. Core Views - The international potassium fertilizer prices continue to rise, with a tight supply-demand balance in the potassium fertilizer market. China, being the largest consumer, has a high import dependency exceeding 60% [1][28]. - The phosphate chemical industry is expected to maintain a high price level due to the scarcity of phosphate rock resources and increasing demand from new applications such as lithium iron phosphate [2][55]. Summary by Sections Potassium Fertilizer - The domestic potassium fertilizer production is projected to decrease by 2.7% to 5.5 million tons in 2024, while imports are expected to reach a record high of 12.633 million tons, up 9.1% year-on-year [1][28]. - As of April 2025, domestic potassium fertilizer port inventory was 1.9111 million tons, a decrease of 45.45% compared to the same period last year [1][28]. - The report highlights the resource scarcity of potassium fertilizer, recommending companies like "Yaqi International" with significant production potential [4][50]. Phosphate Chemical Industry - The long-term price center for phosphate rock is expected to remain high due to declining grades and increasing extraction costs, with the market price for 30% grade phosphate rock remaining above 900 RMB/ton for over two years [2][55]. - As of April 30, 2025, the price of 30% grade phosphate rock in Hubei was 1,040 RMB/ton, unchanged from the previous month, while in Yunnan, it increased by 20 RMB/ton to 970 RMB/ton [2][55]. - The report recommends companies with rich phosphate reserves such as "Yuntianhua" and "Xingfa Group" [4][50]. Price Trends - The prices of phosphate fertilizers showed slight fluctuations in April, with diammonium phosphate priced at 3,526 RMB/ton, down 3.53% year-on-year, while monoammonium phosphate was at 3,251 RMB/ton, up 14.55% year-on-year [3][52]. - The report indicates that the phosphate chemical industry is experiencing a tightening supply-demand situation, with phosphate rock consumption expected to grow [55][63].

Investment Rating - The report indicates a positive outlook for the chemical industry, suggesting a new cycle may begin due to improved domestic supply and demand, increased global market share, and declining crude oil prices [3][4]. Core Viewpoints - The chemical industry is expected to enter a new cycle driven by domestic supply-demand improvements and global market share growth, despite potential short-term impacts from overseas demand [3][5]. - The report highlights that the supply side is gradually improving due to reduced fixed asset investment growth and government policies aimed at curbing excessive competition [5][10]. - On the demand side, domestic consumption is anticipated to recover steadily, supported by government initiatives to boost consumption and stabilize the economy [26][33]. - Cost factors are favorable, with significant declines in international crude oil and domestic coal prices, which will support the profitability of chemical products [42][49]. - The report recommends specific companies within various segments of the chemical industry, including refrigerants, amino acids, military and new materials, and fertilizers, indicating potential investment opportunities [5][57]. Summary by Sections Supply Side - The report notes that the chemical industry has faced profitability pressures since 2022, but the current production cycle is nearing its end, which may lead to gradual improvement in profitability as capacity is digested [11][12]. - China's global market share in chemical products has been steadily increasing, with 2023 figures showing a 43.1% share of global sales [25][20]. Demand Side - The report emphasizes that domestic demand is expected to recover, aided by government policies aimed at stimulating consumption and investment [26][33]. - The real estate sector shows signs of stabilization, which could further support demand for chemical products [33]. Cost Side - The report highlights a significant decline in crude oil prices, with Brent crude falling by 14.71% since the beginning of 2025, which is expected to positively impact the cost structure of the chemical industry [42][38]. - Domestic coal and natural gas prices have also shown a downward trend, enhancing the cost competitiveness of chemical products [49][47]. Valuation - The report indicates that the valuation of the basic chemical and petrochemical sectors is at historical lows, suggesting substantial room for recovery as market conditions improve [54][50].

| 第一章 总则 | 3 | | --- | --- | | 第二章 经营宗旨和范围 | 4 | | 第三章 股份 | 5 | | 第一节 股份发行 | 5 | | 第二节 股份增减和回购 | 6 | | 第三节 股份转让 | 7 | | 第四章 股东和股东会 | 8 | | 第一节 股东的一般规定 | 8 | | 第二节 控股股东和实际控制人 | 11 | | 第三节 股东会的一般规定 | 12 | | 第四节 股东会的召集 | 14 | | 第五节 股东会的提案与通知 | 16 | | 第六节 股东会的召开 | 17 | | 第七节 股东会的表决和决议 | 20 | | 第五章 董事和董事会 | 24 | | 第一节 董事的一般规定 | 24 | | 第二节 董事会 | 27 | | 第三节 独立董事 | 33 | | 第四节 董事会专门委员会 | 35 | | 第六章 高级管理人员 | 37 | | 第七章 财务会计制度、利润分配和审计 | 39 | | 第一节 财务会计制度 | 39 | | 第二节 内部审计 | 43 | | 第八章 通知和公告 | 44 | | --- | --- | | 第一节 ...

成都云图控股股份有限公司 第二条 董事会设董事会秘书，由董事长提名，董事会聘任或解聘，对公司 和董事会负责。公司设证券部作为信息披露事务部门，由董事会秘书直接管理。 第三条 董事会秘书应当具备履行职责所必需的财务、管理、法律等专业知 识，具有良好的职业道德和个人品质，并取得公司股票上市的证券交易所规定的 董事会秘书任职资格。具有下列情形之一的人士不得担任公司董事会秘书： （一）根据《公司法》等法律法规及其他有关规定不得担任高级管理人员的 情形； （二）最近 36 个月受到中国证监会行政处罚； 董事会秘书工作制度 （三）最近 36 个月受到证券交易所公开谴责或 3 次以上通报批评； （四）公司股票上市的证券交易所认定不适合担任董事会秘书的其他情形。 第四条 董事会秘书的主要职责： （2025 年 5 月） 第一条 为进一步完善成都云图控股股份有限公司（以下简称"公司"）法人 治理结构，提高公司治理水平，明确董事会秘书的职责与权限，保证公司规范运 作，根据《中华人民共和国公司法》（以下简称《公司法》）《深圳证券交易所股 票上市规则》《深圳证券交易所上市公司自律监管指引第 1 号—主板上市公司规 范运作》等法律法规 ...