Core Viewpoint - Wanrun Co., Ltd. announced that its subsidiary, Jiummu Chemical, has received an acceptance notice from the Beijing Stock Exchange for its application to publicly issue shares to unspecified qualified investors and list on the exchange [1] Company Overview - Jiummu Chemical primarily engages in the research, development, production, and sales of OLED front-end materials, including OLED sublimation materials and intermediates [4] - Wanrun Co., Ltd. holds 85 million shares in Jiummu Chemical, accounting for 45.33% of the total share capital, making it the controlling shareholder [4] Financial Performance - Revenue for Jiummu Chemical during the reporting period (2022 to the first quarter of 2025) was 706 million yuan, 878 million yuan, 962 million yuan, and 208 million yuan respectively [5] - The net profit excluding non-recurring gains and losses for the same periods was 197 million yuan, 203 million yuan, 246 million yuan, and 46.5 million yuan [5] - The company's main revenue source, OLED sublimation materials and intermediates, accounted for 93.65%, 94.38%, 95.84%, and 95.47% of total revenue during the reporting periods [5] Sales and Market Dynamics - Jiummu Chemical's sales are primarily export-oriented, with overseas sales accounting for 82.15%, 88.51%, 92.69%, and 89.69% of total revenue [7] - The company relies heavily on a few key customers, with sales to the top five customers representing 72.93%, 71.40%, 77.45%, and 67.93% of total revenue [7] Risks and Challenges - The company faces potential risks from fluctuations in exchange rates, as its overseas sales are primarily priced in USD, which can impact revenue and foreign exchange gains or losses [8] - Jiummu Chemical reported negative foreign exchange gains of -11.5 million yuan, -6.94 million yuan, -13.98 million yuan, and -2.00 million yuan during the reporting periods [8] - The company has a high inventory risk, with inventory values of 314 million yuan, 393 million yuan, 418 million yuan, and 436 million yuan at the end of each reporting period, representing a significant portion of current assets [9]

Core Viewpoint - Wanrun Co., Ltd. announced that its subsidiary, Yantai Jiumu Chemical Co., Ltd., has been accepted for listing on the Beijing Stock Exchange, marking a significant step in its capital market strategy [2]. Group 1: Company Developments - Wanrun Co., Ltd. held its sixth board meeting on July 9, 2025, and a second extraordinary general meeting on July 25, 2025, where it approved the proposal for its subsidiary to publicly issue shares to unspecified qualified investors and list on the Beijing Stock Exchange [2]. - On September 11, 2025, Jiumu Chemical submitted its application materials for the public issuance of shares to the Beijing Stock Exchange [2]. - The Beijing Stock Exchange issued an acceptance notice (GF2025090003) to Jiumu Chemical on September 18, 2025, confirming the acceptance of its application for public share issuance and listing [2].

Core Viewpoint - Wanrun Co., Ltd. announced that its subsidiary, Jiumu Chemical, has submitted application materials for a public offering of shares to unspecified qualified investors on the Beijing Stock Exchange [1] Group 1 - Jiumu Chemical submitted its application on September 11, 2025 [1] - On September 18, 2025, Jiumu Chemical received the acceptance notice from the Beijing Stock Exchange, confirming that the application has been officially accepted [1] - Further details will be disclosed by Jiumu Chemical in announcements on the National Equities Exchange and Quotations system [1]

证券代码：002643 证券简称：万润股份 公告编号：2025-059 中节能万润股份有限公司 关于控股子公司向不特定合格投资者公开发行股票并在北京证券 交易所上市申请获得北交所受理的提示性公告 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。 中节能万润股份有限公司（以下简称"公司"或"万润股份"）控股子公司 烟台九目化学股份有限公司（以下简称"九目化学"）为全国中小企业股份转让 系统挂牌企业（证券简称：九目化学，证券代码：874382）。公司分别于 2025 年 7 月 9 日召开第六届董事会第十四次会议、于 2025 年 7 月 25 日召开 2025 年 第二次临时股东大会，审议通过了《万润股份：关于控股子公司向不特定合格投 资者公开发行股票并在北京证券交易所上市的议案》，同意九目化学向不特定合 格投资者公开发行股票并在北京证券交易所（以下简称"北交所"）上市。现将 相关事项进展公告如下： 一、九目化学向不特定合格投资者公开发行股票并在北交所上市申请获得 北交所受理情况 九目化学于 2025 年 9 月 11 日向北交所报送了向不特定合格投资者公开发行 ...

每经AI快讯，9月18日，万润股份（002643）公告，控股子公司九目化学向北交所报送了向不特定合格 投资者公开发行股票并在北交所上市的申报材料，并于2025年9月18日收到北交所出具的《受理通知 书》(GF2025090003)，北交所已正式受理九目化学的IPO申请。九目化学是全国中小企业股份转让系统 挂牌企业，证券简称：九目化学，证券代码：874382。万润股份于2025年7月9日召开董事会并通过了相 关议案，同意九目化学公开发行股票并在北交所上市。公司将根据事项进展情况及时履行信息披露义 务。 ...

Core Viewpoint - Wanrun Co., Ltd. is preparing the C05 project for the second phase of its industrial park, which will support the production capacity of display PI materials [1] Group 1 - The C05 project will include approximately 700 tons of production capacity for display PI finished materials [1] - The project is being developed in response to the company's own situation and downstream demand [1]

Core Viewpoint - The company is preparing to expand its production capacity for display-use PI materials, which is crucial for capitalizing on the growing OLED market opportunities driven by the construction of large-size OLED panel production lines in China [1] Group 1: Company Plans and Capacity - The company is planning the second phase of its industrial park, specifically the C05 project, which will include approximately 700 tons of production capacity for display-use PI materials [1] - This new capacity is expected to support the company's development in display-use PI materials, aligning with downstream demand [1] Group 2: Market Context - The inquiry from investors highlights the competitive landscape, particularly referencing a competitor's significant investment in OLED display core materials and equipment [1] - The ongoing construction of 8.6 generation OLED large-size panel production lines in China presents a market opportunity that the company aims to leverage [1]

Core Viewpoint - The company has made progress in the development of polyether ether ketone (PEEK) materials, with pilot production already achieved and a capacity of approximately 100 tons established for further market promotion and verification [2] Group 1: Production and Capacity Expansion - The company is actively promoting and verifying its PEEK materials, having sent samples to multiple downstream clients [2] - The company is preparing for the second phase of the Wanrun Industrial Park, which includes a planned capacity of approximately 700 tons for display-use polyimide (PI) finished materials [2] - The project is expected to require an initial investment of 287 million yuan to expand the production capacity of photolithography-related materials and display-use polyimide materials by 1,451 tons [2] Group 2: Financial Performance - In the first half of the year, the company achieved a main operating revenue of 1.87 billion yuan, a year-on-year decrease of 4.42% [2] - The net profit attributable to the parent company was 218 million yuan, reflecting a year-on-year increase of 1.35% [2] - The net profit excluding non-recurring gains and losses was 209 million yuan, which represents a year-on-year increase of 6.9% [2]

Core Viewpoint - The company is actively addressing the increasing demand for PEEK materials by developing production capacity and engaging in market promotion and validation efforts [1]. Group 1 - The company has successfully produced pilot products of polyether ether ketone (PEEK) materials, with a pilot line capacity of approximately 100 tons [1]. - The company is currently sending samples to multiple downstream clients and is focused on promoting and validating the product in the market [1]. - Future capacity allocation will be based on market promotion and downstream demand conditions [1].

Core Viewpoint - Wanrun Co., Ltd. (002643.SZ) stated that there have been no significant changes in the prices of its OLED and LCD materials, and the company continues to maintain a leading position in the industry [1] Company Summary - Wanrun Co., Ltd. is actively engaged in the OLED and LCD materials sector, asserting its competitive edge in the market [1] - The company has indicated stability in pricing for its products, which may reflect a consistent demand and supply balance in the industry [1] Industry Summary - The OLED and LCD materials market appears to be stable, with no major fluctuations in pricing reported by leading companies [1] - Maintaining a leading position in the industry suggests that Wanrun Co., Ltd. is well-positioned to capitalize on future growth opportunities within the OLED and LCD sectors [1]