永东股份公告称，公司本次向特定对象发行52,975,326股，每股发行价6.89元，募集资金总额3.65亿元， 净额3.58亿元。为规范募集资金管理，公司分别与中国农业银行稷山县支行、中国银行运城分行（稷山 支行上级分行）、保荐人中德证券签署《募集资金三方监管协议》，对募集资金进行专户管理。协议规 定了各方权利义务，如丙方每半年现场检查，乙方按月出具对账单等，协议自签署生效至专户资金支出 完毕销户失效。 ...

Core Viewpoint - The Xishe Chemical Park in Shanxi Province is actively promoting a circular economy through various initiatives, including collaboration on green electricity projects and the installation of equipment for high-activity silica adsorbent materials, positioning itself as a model for green low-carbon transformation [1] Group 1: Circular Economy Initiatives - The Xishe Park covers an area of 17 square kilometers and focuses on fine chemicals and carbon-based new materials, implementing a "chain-based investment" strategy to ensure resource complementarity among new enterprises [2] - A specialized investment team has been established to target key industries such as coal coking and waste utilization, aiming to create a "leading enterprise drives multiple projects" effect [2] - The park has introduced supportive policies, including tax reductions and financial subsidies for projects that achieve resource utilization, alongside a "standard land + commitment system" to expedite project initiation [2] Group 2: Innovative Business Models - The park employs an "investment through business" model, leveraging existing enterprises' resources to attract upstream and downstream companies, exemplified by the successful integration of multiple coking and fine chemical projects [3] Group 3: Resource Utilization Efficiency - A closed-loop system has been established, comprising "small loops" at the enterprise level, "medium loops" at the park level, and "large loops" across industries, maximizing value output with minimal resource consumption [4] - The park facilitates resource sharing among enterprises, such as the transfer of coke oven gas for ammonia and urea production, creating a material closed loop [4] Group 4: Strategic Planning - The park's development strategy incorporates horizontal coupling and vertical green extension, ensuring that circular economy principles are integrated into every aspect of park construction [5] - Proximity planning for upstream and downstream enterprises reduces transportation distances and costs, enhancing the efficiency of the circular economy [5] - Future projects include a significant coal tar deep processing initiative, which aims to further extend the circular chain from coal tar to fine chemicals and new materials [6]

发行情况报告书 （山西省运城市稷山县稷山经济技术开发区振西大街东） 2024 年度向特定对象发行股票 山西永东化工股份有限公司 SHANXI YONGDONG CHEMISTRY INDUSTRY CO.,LTD. 保荐人（主承销商） 股票简称：永东股份 股票代码：002753 债券简称：永东转 2 债券代码：127059 （北京市朝阳区建国路 81 号华贸中心 1 号写字楼 22 层） 二〇二五年十二月 1 山西永东化工股份有限公司 2024 年度向特定对象发行股票 发行情况报告书 发行人全体董事、高级管理人员声明 导性陈述或重大遗漏，并对其真实性、准确性、完整性承担相应的法律责任。 全体董事签名： 刘东杰 刘东良 靳彩红 张 巍 宁忍娟 卫 娜 匡双礼 苗茂谦 杨庆英 公司除兼任董事外的其他高级管理人员签名： 苏国贤 张瑞杰 吉英俊 陈梦喜 山西永东化工股份有限公司 年 月 日 1 本公司全体董事及高级管理人员承诺本发行情况报告书不存在虚假记载、误 | 目 | 录 2 | | --- | --- | | 释 | 义 3 | | 第一节 | 本次发行的基本情况 4 | | | 一、本次发行履行的相关程序 4 ...

北京德恒律师事务所 关于山西永东化工股份有限公司 2024 年度向特定对象发行 A 股股票 之 发行过程和认购对象合规性的法律意见 北京德恒律师事务所 DeHeng Law Offices 北京市西城区金融街 19 号富凯大厦 B 座 12 层 电话:010-52682888 传真: 010-52682999 邮编: 100033 北京德恒律师事务所 2 北京德恒律师事务所 关于山西永东化工股份有限公司 2024 年度向特定对象发行 A 股股票之发行过程和认购对象合规性的法律意见 目录 | 释义 | | --- | | 一、本次发行的授权和批准 . | | 二、本次发行的发行过程和发行结果 . | | 三、本次发行对象合规性 | | 四、结论意见 . | l 北京德恒律师事务所 关于山西永东化工股份有限公司 2024 年度向特定对象发行 A 股股票之发行过程和认购对象合规性的法律意见 释义 | 公司、发行人、永东股份 | 指 | 山西永东化工股份有限公司 | | --- | --- | --- | | 本所、德恒 | 블 | 北京德恒律师事务所 | | 中德证券、主承销商、保 | 指 | 中德证券有限责任公司 ...

中德证券有限责任公司 关于 山西永东化工股份有限公司 2024 年度向特定对象发行股票 之 发行过程和认购对象合规性报告 保荐人（主承销商） 二〇二五年十二月 山西永东化工股份有限公司 2024 年度向特定对象发行股票 发行过程和认购对象合规性报告 深圳证券交易所： 北京德恒律师事务所律师对申购报价全过程进行见证，发行人和主承销商根 1 经中国证券监督管理委员会（以下简称"中国证监会"）《关于同意山西永东 化工股份有限公司向特定对象发行股票注册的批复》（证监许可〔2025〕2310 号） 批复，同意山西永东化工股份有限公司（以下简称"永东股份"、"公司"或"发 行人"）向特定对象发行股票（以下简称"本次发行"、"本次向特定对象发行股 票"）的注册申请。 中德证券有限责任公司（以下简称"中德证券"、"保荐人（主承销商）"或"主 承销商"）作为永东股份本次向特定对象发行股票的保荐人（主承销商），对发行 人本次发行过程及认购对象的合规性进行了核查，认为永东股份本次发行过程及 认购对象符合《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共 和国证券法》（以下简称"《证券法》"）、《上市公司证券发行注册管 ...

| | | 特此公告。 山西永东化工股份有限公司董事会 二〇二五年十二月九日 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。 山西永东化工股份有限公司（以下简称"公司"）向特定对象发行股票的 发行承销总结及相关文件已在深圳证券交易所备案通过，公司将依据相关规定 尽快办理本次发行新增股份的登记托管事宜。 《山西永东化工股份有限公司 2024 年度向特定对象发行股票发行情况报告 书》及相关文件已于同日在巨潮资讯网（http://www.cninfo.com.cn）披露，敬请 广大投资者查阅。 山西永东化工股份有限公司 关于向特定对象发行股票发行情况报告书披露的 提示性公告 ...

Summary of Yongdong Co., Ltd. Conference Call Company Overview - Yongdong Co., Ltd. specializes in carbon black and coal chemical products, with respective shares of 65% and 35%, and a high proportion of specialty carbon black at 19% [2][3] - The company has maintained a 100% capacity utilization rate since its listing in 2015, compared to the industry average of 78% [3] Financial Performance - Since its IPO in 2015, Yongdong has never reported an annual loss, with a profit of over 50 million yuan in 2015, accounting for half of the entire carbon black industry's profits at that time [4] - The lowest profit was recorded in 2022, attributed to ongoing construction projects, including a 500,000-ton coal tar deep processing project and a 40,000-ton high-end tire carbon black production line [4] - The 200,000-ton NU oil deep processing project is expected to generate a profit of 190 million yuan, indicating a positive economic outlook [4][17] Future Development Plans - By 2025, Yongdong plans to complete several projects: 500,000 tons of coal tar deep processing, a 20 MW power generation project, and a 40,000-ton high-end tire carbon black production line [2][5] - The NU oil deep processing project is expected to be operational in the first half of 2026, with plans to extend into higher value-added coal chemical products and continue R&D on specialty carbon black and lithium battery materials [2][5] Market Dynamics - Recent price increases in traditional tire rubber carbon black are driven by rising raw material costs, with the industry price having reached a cyclical bottom and showing signs of rebound [6] - The carbon black industry is currently at a cyclical low, with prices at their lowest point, but there are indications of potential recovery [9] Competitive Strategies - Yongdong employs a dual business model by integrating coal tar processing with carbon black production, enhancing its risk resistance [7] - The company focuses on R&D of new specialty carbon blacks, such as conductive and high-color carbon blacks, and aims to increase their proportion in total production [7][8] - The transition from sodium phenolate to higher-margin phenolic fine chemicals is part of the strategy to enhance profitability [7] Specialty Carbon Black Insights - Specialty carbon black has a significant price and margin difference compared to regular carbon black, currently priced at approximately 12,000 yuan/ton, with potential for future price increases [13] - The production of specialty carbon black is gradually increasing, with new production lines expected to reach full capacity by 2026 [12] R&D and Product Development - The conductive carbon black segment includes three categories: ordinary, mid-to-high-end, and lithium battery conductive carbon black, with the latter still in the trial phase [14] - Conductive carbon black currently accounts for about 5% of total revenue, with expectations for it to become a significant growth driver [14] Current Projects and Progress - Yongdong has four ongoing projects, including the 500,000-ton NU deep processing project, which is expected to be completed ahead of schedule [15][18] - The 20 MW tail gas power generation project is operational, and the 40,000-ton high-end carbon black project was completed in October [18] Market Outlook and Strategies - Despite recent underperformance in the ordinary tire carbon black market, Yongdong remains optimistic about future developments, particularly in specialty carbon black production [19] - The company plans to continue expanding its fine processing capabilities for coal tar products to enhance overall value [19] Financial Considerations - Yongdong aims to increase capacity and diversify its product line to reward shareholders and boost stock prices, while maintaining a low debt-to-asset ratio for financial stability [20]

Core Insights - On November 24, a total of 17 companies were investigated by institutions, with 10 companies being surveyed by funds, indicating a strong interest in specific stocks [1] - Among the surveyed companies, 6 attracted more than 5 funds, with Crystal Morning Technology being the most popular, receiving attention from 35 funds [1] - The total market capitalization of the surveyed A-shares includes 1 company with a market cap over 500 billion yuan, and 6 companies with market caps below 100 billion yuan [1] Company Summaries - **Crystal Morning Technology (688099)**: Received the highest interest with 35 funds participating in the survey, latest closing price at 92.72 yuan, and a 5-day price increase of 15.68% [1] - **Weili Transmission (300904)**: Attracted 19 funds, latest closing price at 69.20 yuan, with a 5-day price decrease of 2.40% [1] - **Haiyou New Materials (688680)**: Surveyed by 8 funds, latest closing price at 39.17 yuan, experiencing a significant 5-day price drop of 14.83% [1] - **Sanyuan Bio (301206)**: Engaged 7 funds, latest closing price at 27.32 yuan, with a 5-day decline of 5.07% [1] - **Dayilong (002209)**: Also received attention from 7 funds, latest closing price at 14.39 yuan, with a 5-day decrease of 5.95% [1] - **Yongdong Shares (002753)**: Participated by 5 funds, latest closing price at 8.01 yuan, with a slight increase of 3.35% over 5 days [1] - **Hengyi Petrochemical (000703)**: Surveyed by 3 funds, latest closing price at 6.96 yuan, with a 5-day decline of 7.94% [1] - **Weichai Power (000338)**: Engaged 2 funds, latest closing price at 16.60 yuan, with a 5-day decrease of 6.21% [1] - **Zhongsheng Pharmaceutical (002317)**: Attracted 1 fund, latest closing price at 24.08 yuan, with a 5-day decline of 9.20% [1] - **Meirui New Materials (300848)**: Also surveyed by 1 fund, latest closing price at 14.89 yuan, with a 5-day drop of 10.52% [1]

Group 1: Project Development - The company is currently advancing its "200,000 tons/year Anthraquinone Deep Processing Project" and "Supplementing Working Capital" with an expected construction period of 18 months [2] - The project aims to produce 50,000 tons of Anthraquinone and 20,000 tons of Decant Oil, with Decant Oil being used entirely in-house, while the Anthraquinone and Decant Oil will generate revenue through external sales [2] Group 2: Energy Utilization Advantages - The company has established a carbon black tail gas power generation facility, which allows for self-supply of electricity for production and office use, significantly reducing electricity costs [3] - Through technical modifications, the company utilizes tail gas from carbon black production to generate steam for turbines and directly drive production fans, enhancing equipment efficiency [3] Group 3: Circular Economy Strategy - Since its establishment, the company has focused on extending and efficiently utilizing the coal tar deep processing industry chain, aiming for high-quality carbon black products and fine chemical products [3] - The integration of "coal tar processing + carbon black production + tail gas power generation + fine chemical new materials" forms a sustainable circular industry model, promoting high-end differentiation and scale of carbon black products [3]

Market Overview - As of November 21, the Shanghai Composite Index closed at 3834.89 points, down 96.16 points, a decline of 2.45% [1] - The Shenzhen Component Index closed at 12538.07 points, down 442.75 points, a decline of 3.41% [1] - The ChiNext Index closed at 2920.08 points, down 122.26 points, a decline of 4.02% [1] Trading Activity - A total of 91 A-shares had a turnover rate exceeding 20% on this day [1] - Notable stocks with high turnover rates included: - Dapeng Industrial (920091) with a turnover rate of 98.28% and a price increase of 1211.11% [1] - Jianglong Shipbuilding (300589) with a turnover rate of 55.14% and a price increase of 14.50% [1] - C Nanshan Data (301638) with a turnover rate of 52.72% and a price increase of 0.91% [1] Notable Stocks - Other significant stocks with high turnover rates included: - C Hengkun (688727) with a turnover rate of 46.22% and a price decrease of 11.47% [1] - Inspur Software (600756) with a turnover rate of 46.20% and a price increase of 6.76% [1] - ST Dongtong (300379) with a turnover rate of 44.50% and a price increase of 4.15% [1] - Additional stocks with notable performance included: - Shennong Agriculture (300189) with a turnover rate of 42.82% and a price increase of 3.67% [1] - Beifang Changlong (301357) with a turnover rate of 42.52% and a price increase of 0.68% [1]