| 证券代码：002895 | 证券简称：川恒股份 | 公告编号：2025-055 | | --- | --- | --- | | 转债代码：127043 | 转债简称：川恒转债 | | 贵州川恒化工股份有限公司 2024 年度利润分配实施公告 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。 特别提示： 1、贵州川恒化工股份有限公司（以下简称公司）回购专用证券账户持有的 1,760,300 股公司股份不参与本次利润分配。公司 2024 年度利润分配方案为：以 公司现有总股本 549,176,851 股剔除已回购股份 1,760,300 股后的 547,416,551 股 为基数，向全体股东每 10 股派发现金股利 12.00 元，实际现金分红总额为 656,899,861.20 元（含税）。 2、本次利润分配实施后计算除权除息价格时，按公司总股本 549,176,851 股折算每 10 股现金分红=实际现金分红总额÷总股本×10=656,899,861.20 元÷ 549,176,851 股×10=11.961535 元（保留六位小数，最后一位直接截取，不四舍 ...

Core Viewpoint - Guizhou Chuanheng Chemical Co., Ltd. has completed the registration of its 2025 equity incentive plan, granting restricted stocks to 902 participants, with a total of 9.2624 million shares allocated, reflecting a slight adjustment from the initial plan due to voluntary forfeitures by some participants [1][2][3]. Summary by Sections Equity Incentive Plan Details - The 2025 equity incentive plan was approved by the board and involves granting restricted stocks to 902 participants, with a total of 9.2624 million shares allocated, which is a reduction from the initial 9.309 million shares due to forfeitures [2][3]. - The granted restricted stocks will have a lock-up period of 12 months and 24 months, during which participants cannot transfer or use them as collateral [3][4]. Forfeitures and Adjustments - A total of 46,600 shares were forfeited by 12 participants due to personal reasons, leading to a reduction in the number of participants from 924 to 912 [2]. - The final number of participants who received the restricted stocks is 902, with the total number of shares granted being 9.2324 million [2][3]. Financial Impact and Capital Structure - The company's registered capital increased by RMB 591.752 million due to the issuance of restricted stocks, bringing the total registered capital to RMB 54,789.9512 million [6][7]. - The stock structure changed with the addition of 9.2324 million restricted stocks, resulting in a new total of 547,979,376 shares [8][9]. Accounting Treatment - The company will recognize the costs associated with the restricted stocks in its financial statements, impacting net profit during the vesting period [10][11]. - The estimated total expense for the stock plan will be amortized over the years 2025 to 2027, affecting the company's financial performance [10][11]. Listing and Trading Adjustments - The stock conversion price for the convertible bonds will be adjusted from RMB 18.73 to RMB 18.61 per share following the issuance of restricted stocks [5][6]. - The listing date for the granted restricted stocks is set for June 13, 2025 [6].

| 证券代码：002895 | 证券简称：川恒股份 | 公告编号：2025-053 | | --- | --- | --- | | 转债代码：127043 | 转债简称：川恒转债 | | 贵州川恒化工股份有限公司 实施权益分派期间"川恒转债"暂停转股的公告 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。 特别提示： 1、转债代码：127043；转债简称：川恒转债 贵州川恒化工股份有限公司（以下简称公司）2024 年年度股东大会审议通过 《2024 年度利润分配预案》，公司将根据相关决议实施 2024 年度权益分派。 根据公司《公开发行可转换公司债券募集说明书》（以下简称《募集说明书》） 中关于转股价格调整的有关规定： 在本次发行之后，若公司发生派送红股、转增股本、增发新股（不包括因本次 发行的可转换公司债券转股而增加的股本）、配股以及派发现金股利等情况，则转 股价格相应调整。具体的转股价格调整公式如下： 派送股票股利或转增股本：P1=P0/（1+n）； 增发新股或配股：P1=（P0+A×k）/（1+k）； 上述两项同时进行：P1=（P0+A×k）/（1+n+k ...

| 证券代码：002895 | 证券简称：川恒股份 | 公告编号：2025-052 | | --- | --- | --- | | 转债代码：127043 | 转债简称：川恒转债 | | | | 贵州川恒化工股份有限公司 | | 川恒转债转股价格调整公告 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。 特别提示： 在本次发行之后，若公司发生派送红股、转增股本、增发新股（不包括因本次 发行的可转换公司债券转股而增加的股本）、配股以及派发现金股利等情况，则转 股价格相应调整。具体的转股价格调整公式如下： 1、转债代码：127043；转债简称：川恒转债 2、本次调整前可转债转股价格：18.73 元/股 3、本次调整后可转债转股价格：18.61 元/股 4、转股价格调整起始日期：2025 年 6 月 13 日 一、可转债转股价格调整的相关规定 经中国证券监督管理委员会《关于核准贵州川恒化工股份有限公司公开发行可 转换公司债券的批复》（证监许可[2021]2337 号）核准，贵州川恒化工股份有限公 司（以下简称"川恒股份"或"公司"）于 2021 年 8 月 12 日公 ...

特别提示： | 证券代码：002895 | 证券简称：川恒股份 | 公告编号：2025-051 | | --- | --- | --- | | 转债代码：127043 | 转债简称：川恒转债 | | 贵州川恒化工股份有限公司 1、本次激励计划实际授予的股票数量为 923.24 万股，占授予前公司股本总 额的 1.71%，均为向激励对象新增发行的股票，涉及激励对象合计 902 人。 2、本次限制性股票上市日为 2025 年 6 月 13 日，上市后股票性质为有限售 条件流通股。 2025 年股权激励计划授予登记完成公告 3、"川恒转债"转股价格将与限制性股票上市日（即 2025 年 6 月 13 日） 同日调整，由 18.73 元/股调整为 18.61 元/股。 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 2、授予对象：公司董事、高级管理人员、中层管理人员及技术（业务）骨 干（不包括公司独立董事、监事及单独或合计持有公司 5%以上股份的股东或实 际控制人及其配偶、父母、子女）。 3、根据公司《激励计划》中确定的激励对象认购意向反馈，其中 6 名激励 对象因个 ...

Summary of Key Points from Conference Call Records Industry Overview Aviation Industry - Boeing's aircraft delivery suspension has a limited impact on the Chinese aviation industry, with three previously suspended aircraft set to be delivered to Xiamen Airlines and China Southern Airlines. China Eastern Airlines plans to introduce 46 Boeing aircraft by 2025, with about 10 already delivered in Q1. These new aircraft represent less than 1% of the total industry fleet of 4,300 aircraft [2][4] - Market expectations suggest that tax rebates may compensate airlines for the delivery suspension, which has not significantly affected stock prices [4] - The summer 2025 aviation market is expected to see good pre-sales, with non-fuel ticket prices projected to achieve double-digit growth, although current seat occupancy rates are lower than last year [5] Express Delivery Industry - The express delivery sector is experiencing price increases, particularly in Yiwu, while intense price wars among major companies have not yielded expected results. The growth rate for Zhongtong's parcel volume in Q1 was only 19%, compared to the industry average of 22% [6] - The price war may reach a temporary bottom if price increases continue, presenting a good opportunity for investment in companies like Zhongtong, Jitu, YTO, and Shentong [6] - The application of unmanned vehicles in the last-mile delivery is rapidly advancing, with SF Express increasing its investment in unmanned vehicles, significantly reducing per-package costs [7][8] Chemical Industry - The CCPI price index has decreased due to oil price fluctuations and the seasonal decline in consumption. The index currently stands at 44,033 points, down one percentage point from the previous week [9] - U.S. inventory growth in March was 3.47%, indicating potential future demand decline, which may affect chemical product exports [10] - OPEC's decision to increase production may impact the chemical industry, with a focus on supply-constrained products [11] Fertilizer Market - Potash fertilizer contract prices have risen, with ongoing tight supply and demand conditions expected to maintain high prices. The price for potash contracts in India is $349 per ton, up $70 year-on-year [13][14] Refrigerant and Vitamin Markets - Refrigerant prices are rising due to increased downstream demand, with R32 reaching 51,000 yuan per ton. Vitamin E prices are expected to rise due to low inventory levels and production halts among leading companies [15] Precious Metals Market - Silver prices are rising due to increased tariffs on copper and aluminum, while platinum and palladium prices are influenced by industrial demand fluctuations. The gold market is currently volatile, with attention on potential risks to the U.S. dollar's credibility [18][19] Oil Market - Brent crude oil prices have risen to $66.65 per barrel, with expectations of fluctuations between $63 and $67 in June. Despite OPEC's production increase, global demand remains tight [20]

Core Viewpoint - Guizhou Chuanheng Chemical Co., Ltd. maintains a stable credit rating of AA- for its corporate bonds, reflecting its competitive advantages in the phosphate market and solid financial performance [1][4]. Company Overview - The company was established on November 25, 2002, and is primarily engaged in the production and sale of phosphate rock and phosphate products [11]. - As of March 2025, the company has a registered capital of 539 million yuan, with Sichuan Chuanheng Holding Group Co., Ltd. holding 51.54% of the shares [11]. Financial Performance - In 2024, the company achieved total revenue of 5.906 billion yuan, a year-on-year increase of 36.72%, and a profit of 1.173 billion yuan, up 21.44% from the previous year [6][10]. - The company's total assets reached 12.923 billion yuan, with owner’s equity at 7.229 billion yuan by the end of 2024 [11]. - The company’s total debt decreased to 3.934 billion yuan by the end of 2024, down 5.62% from the previous year [7][10]. Market Position and Competitive Advantage - The company holds a leading market share in the domestic market for feed-grade monoammonium phosphate and has a strong competitive position in the phosphate industry [14]. - The company has a robust resource reserve, with significant phosphate rock resources across multiple mining rights, ensuring stable raw material supply [14]. Risk Factors - The company faces risks related to international trade, including trade protection measures and exchange rate fluctuations, as a significant portion of its revenue comes from exports [7][20]. - There are potential investment risks associated with the construction of new projects and the overall market environment [5][7]. Future Outlook - The company plans to enhance its competitive edge by expanding its phosphate chemical industry chain and completing ongoing projects [5][6]. - The credit outlook remains stable, with potential for upgrades if the company significantly expands its business and asset scale [5][6].

| | 真 诚 | 服 务 | | --- | --- | --- | | 专业 | | | | 尽责 | | | 1 www.lhratings.com 联合〔2025〕3473 号 联合资信评估股份有限公司通过对贵州川恒化工股份有限公司 主体及其相关债券的信用状况进行跟踪分析和评估，确定维持贵州 川恒化工股份有限公司主体长期信用等级为 AA-，维持"川恒转债" 信用等级为 AA-，评级展望为稳定。 特此公告 联合资信评估股份有限公司 评级总监： 贵州川恒化工股份有限公司 公开发行可转换公司债券 2025 年跟踪评级报告 二〇二五年六月五日 声 明 一、本报告是联合资信基于评级方法和评级程序得出的截至发表之日的 独立意见陈述，未受任何机构或个人影响。评级结论及相关分析为联合资信 基于相关信息和资料对评级对象所发表的前瞻性观点，而非对评级对象的事 实陈述或鉴证意见。联合资信有充分理由保证所出具的评级报告遵循了真 实、客观、公正的原则。鉴于信用评级工作特性及受客观条件影响，本报告 在资料信息获取、评级方法与模型、未来事项预测评估等方面存在局限性。 二、本报告系联合资信接受贵州川恒化工股份有限公司（以下简称"该 ...

| 证券代码：002895 | 证券简称：川恒股份 | 公告编号：2025-050 | | --- | --- | --- | | 转债代码：127043 | 转债简称：川恒转债 | | 贵州川恒化工股份有限公司 签订募集资金三方监管协议的公告 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。 一、募集资金基本情况 经中国证券监督管理委员会证监许可[2023]1392 号文同意注册，贵州川恒化 工股份有限公司（以下简称公司）于 2023 年 12 月向特定对象发行股票 40,250,000 股，发行价格为 16.40 元/股，募集资金总额为 660,100,000.00 元，扣除各项不含税 发行费用 9,502,830.19 元，实际募集资金净额为 650,597,169.81 元（因发行费用中 增值税进项税 498,169.81 元未做进项税抵扣，实际可使用募集资金金额为 650,099,000.00 元）。上述募集资金到位情况已经信永中和会计师事务所（特殊普 通合伙）验证，并出具 XYZH/2023CDAA1B0433 号《验资报告》。 二、募集资金用途变更 ...

Company Overview - Guizhou Chuanheng Chemical Co., Ltd. is a private technology-based phosphate chemical enterprise, primarily engaged in phosphate ore development and deep processing of phosphate resources [1] Stock Performance - Chuanheng shares have experienced a decline for four consecutive trading days, with a cumulative drop of -2.64% [1] - Year-to-date performance shows a return of -0.18%, ranking 627 out of 999 in its category [1][2] Fund Management - The top shareholder of Chuanheng is the Jiashi New Energy Materials Stock A fund, which has maintained its position in the first quarter of this year [1] - The fund managers for Jiashi New Energy Materials Stock A are Yao Zhipeng and Xiong Yuzhou, with Yao having a tenure of 9 years and 36 days in fund management [3][4][5] Comparative Analysis - The fund's performance compared to peers shows a year-to-date return of -0.18%, while the average return for similar funds is 3.52% [2] - The Shanghai and Shenzhen 300 index has a year-to-date return of -2.11% [2]