Core Viewpoint - Yanggu Huatai reported that as of January 20, 2026, the number of shareholders reached 32,895 [2] Company Summary - Yanggu Huatai has engaged with investors through an interactive platform, providing updates on shareholder numbers [2] - The company is actively communicating with its investors, indicating a focus on transparency and shareholder engagement [2]

Core Viewpoint - The company announced the termination of the planned acquisition of 99.64% equity in Bomi Technology and the associated fundraising, originally set for December 31, 2025 [1] Group 1 - The self-examination period for the company was from April 29 to December 31, 2025 [1] - During the self-examination, it was discovered that four individuals, including Wang Wenguo, engaged in stock trading of the company [1] - The company repurchased a total of 3.6 million shares from May 30 to October 10, 2025, and subsequently canceled these shares [1] Group 2 - All involved parties have committed that their trading activities are unrelated to the restructuring and do not constitute insider trading [1] - Independent financial and legal advisors have verified that the trading activities of the relevant parties do not fall under the category of insider trading [1]

一、本次交易的内幕信息知情人买卖股票情况的核查期间 本次交易的核查期间为披露本次交易报告书之日起至披露终止本次重组事 项之日止，即 2025 年 4 月 29 日至 2025 年 12 月 31 日（以下简称"核查期间"）。 二、本次交易的内幕信息知情人核查范围 中泰证券股份有限公司 关于山东阳谷华泰化工股份有限公司终止发行股份及支付现金购买 资产并募集配套资金暨关联交易相关主体买卖股票情况自查报告的 核查意见 山东阳谷华泰化工股份有限公司（以下简称 "公司"、"上市公司"或"阳 谷华泰"）拟通过发行股份及支付现金方式购买波米科技有限公司（以下简称"波 米科技"或"标的公司"）99.64%股权并募集配套资金（以下简称"本次交易" 或"本次重组"）。 上市公司于 2025 年 12 月 31 日召开第六届董事会第十八次会议，审议通过 了《关于终止发行股份及支付现金购买资产并募集配套资金暨关联交易事项并撤 回申请文件的议案》，决定终止本次交易，并向深交所申请撤回本次交易申请文 件。 根据《上市公司重大资产重组管理办法》《上市公司监管指引第 7 号——上 市公司重大资产重组相关股票异常交易监管》《公开发行证券的公司 ...

100032, China Tel：+86 10 66578066 Fax：+86 10 66578016 E-mail：guantao@guantao.com http：// www.guantao.com 观意字 2026BJ000222 号 北京观韬律师事务所 专项核查意见 中国北京市西城区金融大街 5 号 新盛大厦 B 座 19 层 邮编：100032 19/F, Tower B, Xinsheng Plaza, No.5 Finance Street, Xicheng District, Beijing 观意字 2026BJ000222 号 北京观韬律师事务所（以下简称"本所"）受山东阳谷华泰化工股份有限公司（以 下简称"阳谷华泰"、"上市公司"或"公司"）委托，担任阳谷华泰发行股份及支付现金 购买波米科技有限公司（以下简称"波米科技"或"标的公司"）99.64%股权并募集配 套资金暨关联交易（以下简称"本次交易"或"本次重组"）的专项法律顾问。 上市公司于2025 年12 月31 日召开第六届董事会第十八次会议，审议通过了《关 于终止发行股份及支付现金购买资产并募集配套资金暨关联交易事项并撤回申请 ...

| 证券代码：300121 | 证券简称：阳谷华泰 | 公告编号：2026-008 | | --- | --- | --- | | 债券代码：123211 | 债券简称：阳谷转债 | | 山东阳谷华泰化工股份有限公司 关于终止发行股份及支付现金购买资产并募集配套资金暨关联交易 相关主体买卖股票情况自查报告的公告 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。 山东阳谷华泰化工股份有限公司（以下简称"公司"、"上市公司"或"阳谷 华泰"）拟通过发行股份及支付现金方式购买波米科技有限公司（以下简称"波 米科技"或"标的公司"）99.64%股权并募集配套资金（以下简称"本次交易" 或"本次重组"）。公司于 2025 年 12 月 31 日召开第六届董事会第十八次会议， 审议通过了《关于终止发行股份及支付现金购买资产并募集配套资金暨关联交易 事项并撤回申请文件的议案》，决定终止本次交易，并向深圳证券交易所申请撤 回本次交易申请文件。2026 年 1 月 13 日，公司收到深圳证券交易所《关于终止 对山东阳谷华泰化工股份有限公司发行股份及支付现金购买资产并募集配套资 金 ...

Core Viewpoint - Yanggu Huatai is committed to extending its development strategy into the chemical new materials sector and remains optimistic about the growth prospects of Bomi Technology [1] Group 1 - The company plans to negotiate with relevant parties to acquire a portion of Bomi Technology's equity through cash [1] - Specific transaction details will be discussed and will undergo procedural review once an agreement is reached [1]

（文章来源：证券日报） 证券日报网讯 1月19日，阳谷华泰在互动平台回答投资者提问时表示，截至2026年1月9日，公司股东人 数32656户。 ...

Core Viewpoint - The report highlights the current trends in the chemical industry, focusing on price movements, supply and demand dynamics, and investment opportunities in undervalued leading companies amid a backdrop of geopolitical tensions and changing market conditions [1][4][8]. Industry Dynamics - In the week of January 12-18, 49 out of 100 tracked chemical products saw price increases, while 20 experienced declines, and 31 remained stable. The average monthly price of 49% of products rose compared to the previous month [3]. - The average price of WTI crude oil futures increased by 0.54% to $59.44 per barrel, while Brent crude oil futures rose by 0.66% to $63.76 per barrel during the same week [4]. - As of January 9, U.S. crude oil production averaged 13.753 million barrels per day, a decrease of 58,000 barrels from the previous week but an increase of 272,000 barrels year-on-year. Total U.S. oil demand was 21.009 million barrels per day, up by 178,200 barrels from the previous week [4]. Price Movements - The price of butadiene rose by 4.04% to 9,663 yuan per ton as of January 18, with a month-on-month increase of 25.98% but a year-on-year decrease of 20.8%. The production of butadiene was 109,300 tons, down 2.85% from the previous week [5]. - Epoxy propane prices increased by 8.84% to 8,620 yuan per ton, with a year-on-year rise of 9.88%. The market operating rate was 65.38%, reflecting a 1.51% increase from the previous week [6][7]. Investment Recommendations - As of January 18, the price-to-earnings ratio (TTM) for the SW basic chemical sector is 14.68, at the 59.64% historical percentile, while the price-to-book ratio is 1.54, at the 40.20% historical percentile. The SW oil and petrochemical sector has a TTM P/E ratio of 13.44, at the 39.81% historical percentile [8]. - Investment suggestions include focusing on undervalued leading companies, the impact of "anti-involution" on supply in related sub-industries, and the growing importance of self-sufficiency in electronic materials and certain new energy materials amid rising prices [2][8]. - Recommended stocks include Wanhua Chemical, Hualu Hengsheng, and others, with a focus on sectors like semiconductor materials, OLED materials, and new energy materials [8][9].

Group 1 - The core point of the news is the significant asset transactions involving two listed companies in the tire raw materials sector [3][4][6] Group 2 - Jiangsu Farsen Co., Ltd. plans to sell 10% of its stake in Bekaert Steel Cord Products (Jiangyin Plant) for 161 million yuan, with the buyer being BEKAERT STEEL CORD PRODUCTS HONG KONG LIMITED [3][8] - After the transaction, Farsen will no longer hold any equity in the target company, and this sale is seen as a way to alleviate its significant financial pressure due to deteriorating performance [4][9] - Farsen's net profits have turned negative in recent years, reporting -10,600 yuan for 2024 and -22,765,400 yuan for the first nine months of 2025, with the funds from this transaction intended for debt repayment and working capital [4][9] Group 3 - Shandong Yanggu Huatai Chemical Co., Ltd. announced the termination of a major asset acquisition plan to purchase a 99.64% stake in Bomi Technology Co., Ltd. for 1.438 billion yuan [6][11] - The transaction involved Wang Chuanhua, who holds 17.79% of the target company and is also the actual controller of Yanggu Huatai, thus constituting a related party transaction [6][11] - Bomi Technology has been in a state of net loss for two consecutive years, but Yanggu Huatai remains optimistic about its development prospects and plans to negotiate for a partial stake acquisition in cash [6][11]

Group 1 - Nanda Optoelectronics is a core enterprise in the semiconductor materials field, focusing on the R&D and mass production of ArF photoresists, having achieved breakthroughs that disrupt the monopoly of Japanese and American companies in the mid-to-high-end photoresist market [1][38][39] - The company has established deep cooperation with foundries in the Yangtze River Delta and has successfully validated its ArF photoresist for 28nm processes, leading to significant order growth and capacity expansion following the introduction of U.S. semiconductor tariffs in 2026 [1][39] - The National Big Fund has provided financial support for its photoresist projects, enhancing its first-mover advantage in the domestic photoresist market [1][39] Group 2 - Tongcheng New Materials, based in Shanghai, is a leading domestic rubber additive company that has entered the photoresist market through the acquisition of Beixu Electronics, focusing on the R&D and production of KrF photoresists [2][40] - The company has established stable partnerships with major domestic foundries, achieving large-scale production of KrF photoresists widely used in memory chips and power devices [2][40] - Plans for an H-share listing in 2026 aim to raise funds for high-end photoresist R&D and capacity expansion, further enhancing its competitive edge in the domestic market [2][40] Group 3 - Dinglong Co., headquartered in Wuhan, is a leader in printing and copying consumables, diversifying into semiconductor materials with a focus on polishing pads and supporting materials for photoresists [3][41] - The company has established close cooperation with major foundries like SMIC, achieving import substitution for its CMP polishing pads, which supports its photoresist business [3][41] - Following the U.S. semiconductor tariffs, there has been a surge in demand for localized supporting materials, leading to increased orders for its photoresist and related products [3][41] Group 4 - Yake Technology, located in Jiangsu, has entered the semiconductor photoresist market through the acquisition of South Korea's UP Chemical, focusing on KrF and ArF photoresists [4][42] - The company has integrated the technical advantages of the Korean team with domestic market resources, positioning itself as a core supplier of mid-to-high-end photoresists in the global semiconductor supply chain [4][42] - The electronic specialty gas business complements its photoresist offerings, providing a one-stop material solution for foundries [4][42] Group 5 - Dongcai Technology, based in Sichuan, specializes in high polymer resin materials for photoresists, leveraging its chemical industry foundation in the Southwest [5][43] - The company has achieved batch supply of resin products for various photoresist models, including G/I line and KrF, validated by multiple domestic photoresist manufacturers [5][43] - The demand for localized raw materials has surged following the U.S. semiconductor tariffs, leading to increased production capacity and a focus on high-end resin materials for ArF photoresists [5][43] Group 6 - Lianhong New Materials, located in Shandong, produces core raw materials such as monomers and solvents for photoresists, achieving low-cost production with quality meeting import standards [6][44] - The company has established long-term partnerships with downstream photoresist manufacturers, enhancing product adaptability and market share [6][44] - The acceleration of domestic substitution due to U.S. tariffs has led to a significant increase in orders for its photoresist raw materials [6][44] Group 7 - Shengquan Group, based in Shandong, focuses on developing phenolic and epoxy resins for photoresists, achieving breakthroughs in green and high-performance materials [7][45] - The company has become a core supplier for downstream photoresist manufacturers, benefiting from the growing demand for upstream resin materials following the U.S. semiconductor tariffs [7][45] - Increased R&D investment aims to develop high-end resin materials for KrF photoresists, further extending its position in the semiconductor materials industry [7][45] Group 8 - Shanghai Xinyang, a leader in semiconductor cleaning liquids, has diversified into the photoresist market, focusing on G/I line and electroplating photoresists [8][46] - The company has achieved large-scale production of G/I line photoresists, becoming a major supplier for domestic packaging applications [8][46] - The introduction of U.S. tariffs has accelerated the domestic adoption of photoresist materials, significantly increasing order volumes for its products [8][46] Group 9 - Jingrui Electric Materials, located in Jiangsu, is a leader in microelectronic materials, with its photoresist business covering multiple models including G/I line and KrF [9][48] - The company has accumulated extensive experience in photoresist R&D and production, with KrF photoresists entering the customer validation phase [9][48] - The U.S. semiconductor tariffs have led to a significant increase in domestic procurement of photoresists, resulting in notable revenue growth for the company [9][48] Group 10 - Huamao Technology, based in Fujian, has entered the photoresist market through the acquisition of XuZhou Bokan, focusing on ArF photoresist R&D [10][49] - The company aims to leverage its technical reserves to achieve breakthroughs in the production of mid-to-high-end photoresists, particularly in automotive semiconductor applications [10][49] - The acceleration of domestic substitution due to U.S. tariffs positions the company favorably in the ArF photoresist market [10][49] Group 11 - Jingfang Technology, headquartered in Jiangsu, specializes in semiconductor packaging and testing, relying on photoresists as a core consumable in its processes [11][50] - The company is enhancing cooperation with domestic photoresist manufacturers to optimize supply chain costs amid the push for domestic substitution [11][50] - The growth in demand from automotive electronics and AIoT sectors is driving the expansion of its packaging business, indirectly benefiting from the photoresist market [11][50] Group 12 - Xinlai Yingcai, based in Jiangsu, is a leader in ultra-pure fluid equipment, providing clean production equipment for photoresist manufacturing [12][51] - The company is expanding its product offerings to include ultra-clean equipment suitable for ArF and EUV photoresist production [12][51] - The demand for clean equipment has surged following the U.S. semiconductor tariffs, leading to significant order growth [12][51] Group 13 - Hubei Yihua, located in Hubei, is a leader in basic chemicals, producing raw materials for photoresists such as chlorobenzene and phosphorus trichloride [13][53] - The company has achieved large-scale production of photoresist raw materials, benefiting from the growing demand for localized supply following U.S. tariffs [13][53] - Its integrated chemical industry advantages help reduce production costs, enhancing its competitiveness in the photoresist supply chain [13][53]