Company Overview - Yanggu Huatai Chemical Co., Ltd. is located at 399 Qinghe West Road, Yanggu County, Shandong Province, established on March 23, 2000, and listed on September 17, 2010 [1] - The company specializes in the production, research, and sales of rubber additives, with main business revenue composition: high-performance rubber additives 56.52%, multifunctional rubber additives 43.04%, and others 0.44% [1] Stock Performance - As of November 24, Yanggu Huatai's stock price decreased by 2.12%, trading at 14.29 CNY per share, with a total market capitalization of 6.362 billion CNY [1] - Year-to-date, the stock price has increased by 20.25%, but it has seen a decline of 12.17% over the last five trading days, 10.35% over the last 20 days, and 0.50% over the last 60 days [1] - The company has appeared on the "龙虎榜" (a stock trading list) once this year, with the most recent appearance on May 23, where it recorded a net buy of 96.5604 million CNY [1] Financial Performance - For the period from January to September 2025, Yanggu Huatai achieved a revenue of 2.580 billion CNY, representing a year-on-year growth of 1.79%, while the net profit attributable to shareholders decreased by 13.60% to 160 million CNY [2] - The company has distributed a total of 9.41 billion CNY in dividends since its A-share listing, with 296 million CNY distributed over the last three years [3] Shareholder Information - As of November 10, the number of shareholders for Yanggu Huatai was 28,700, a decrease of 3.06% from the previous period, with an average of 14,952 circulating shares per shareholder, an increase of 3.16% [2] - Notable new shareholders include Hong Kong Central Clearing Limited, holding 2.3324 million shares, and Changxin Jinli Trend Mixed A, holding 1.95 million shares [3]

Investment Rating - The report maintains a "Recommended" rating for the chemical industry [1] Core Views - The chemical industry is expected to benefit from the ongoing "anti-involution" measures, which may lead to a significant slowdown in global chemical capacity expansion. This shift is anticipated to enhance cash flow and dividend yields for companies in the sector, transforming them from cash-consuming entities to cash-generating ones [7][27] - The report highlights the potential for domestic substitutes for Japanese semiconductor materials due to rising tensions in Sino-Japanese relations, which could accelerate the domestic market's growth in this area [6] Summary by Sections Recent Trends - The chemical industry has shown a relative performance increase of 16.1% over the past 12 months, outperforming the CSI 300 index, which increased by 11.6% [4] Key Price Movements - DMC (Dimethyl Carbonate) prices rose to 4400 CNY/ton, up 14.29% week-on-week, driven by strong demand from the electrolyte sector [14] - Lithium battery electrolyte prices increased to 27000 CNY/ton, up 8.00% week-on-week, although profit margins for manufacturers are under pressure due to rising raw material costs [14] - Diammonium phosphate prices in East China reached 3850 CNY/ton, up 5.48% week-on-week, amid rising production costs [14] Investment Opportunities - The report identifies four key opportunities in the chemical sector: 1. Low-cost expansion, focusing on companies like Wanhua Chemical and Hualu Hengsheng [9] 2. Improved industry conditions, particularly in chromium salts and phosphate rock [10] 3. New materials with high growth potential, such as electronic chemicals and aerospace materials [11] 4. High dividend yields from state-owned enterprises in the chemical sector, including China Petroleum and China National Chemical [11] Company Tracking and Earnings Forecast - The report provides a detailed earnings forecast for key companies, indicating a positive outlook for several firms in the chemical sector, with many rated as "Buy" [28]

Market Overview - The rubber sector increased by 0.27% compared to the previous trading day, with Yuanxiang New Materials leading the gains [1] - The Shanghai Composite Index closed at 3946.74, up 0.18%, while the Shenzhen Component Index closed at 13080.09, unchanged [1] Stock Performance - Yuanxiang New Materials (301300) closed at 48.37, up 11.48% with a trading volume of 76,400 shares and a turnover of 353 million yuan [1] - Tongcheng New Materials (603650) closed at 40.92, up 6.62% with a trading volume of 361,500 shares and a turnover of 147.5 million yuan [1] - Other notable stocks include Zhongyu Technology (920694) with a 0.55% increase and Sanwei Co. (603033) with a 0.35% increase [1] Fund Flow Analysis - The rubber sector saw a net inflow of 160 million yuan from institutional investors, while retail investors experienced a net outflow of 92.73 million yuan [2] - Major stocks like Tongcheng New Materials had a net inflow of 250 million yuan from institutional investors, but a net outflow of 139 million yuan from retail investors [3] - Yuanxiang New Materials had a net inflow of 642,470 yuan from institutional investors, with retail investors showing a net outflow of 835,650 yuan [3]

证券日报网讯 11月18日晚间，阳谷华泰发布公告称，公司于2025年11月18日召开第六届董事会第十七 次会议，审议通过了《关于第一期员工持股计划存续期展期的议案》，同意将公司第一期员工持股计划 的存续期展期至2026年12月22日。 （文章来源：证券日报） ...

| 证券代码：300121 | 证券简称：阳谷华泰 | 公告编号：2025-146 | | --- | --- | --- | | 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 关于第一期员工持股计划存续期展期的公告 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、误导性陈述或者重大遗漏。 解锁的标的股票比例依次为 40%、30%、30%。 截至本公告披露日，本次员工持股计划共持有公司股票 2,822,802 股，占公 司截至 2025 年 11 月 17 日总股本的 0.63%。本次员工持股计划持有的公司股票 未出现用于抵押、质押、担保或偿还债务等情形。 二、本次员工持股计划存续期展期情况 根据公司《第一期员工持股计划（草案）》的相关规定，本次员工持股计划 的存续期届满前 1 个月，如持有的公司股票仍未全部出售或过户至员工持股计划 份额持有人，经出席持有人会议的持有人所持 2/3 以上（含）份额同意并提交公 司董事会审议通过后，本次员工持股计划的存续期可以延长。 鉴于公司本次员工持股计划的存续期将于 2025 年 12 月 22 日届满，基于 ...

Core Viewpoint - Yanggu Huatai announced the extension of its first employee stock ownership plan during the board meeting held on November 18, 2025, indicating a focus on employee engagement and retention strategies [1] Company Summary - Yanggu Huatai's revenue composition for the year 2024 is entirely derived from rubber additives, accounting for 100.0% of its revenue [1] - As of the latest update, Yanggu Huatai has a market capitalization of 7 billion yuan [1]

| 证券代码：300121 | 证券简称：阳谷华泰 | 公告编号：2025-145 | | --- | --- | --- | | 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 第六届董事会第十七次会议决议公告 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。 1、经与会董事签字并加盖董事会印章的董事会决议。 一、董事会会议召开情况 山东阳谷华泰化工股份有限公司（以下简称"公司"）第六届董事会第十七 次会议的会议通知已于 2025 年 11 月 12 日以专人及通讯方式送达全体董事，本 次会议于 2025 年 11 月 18 日在公司三楼会议室以现场与通讯表决相结合的方式 召开。应参加会议董事 7 名，亲自出席董事 7 名，其中独立董事 3 名，董事朱德 胜、张洪民以通讯表决的方式出席会议。会议由公司董事长王文博先生主持，公 司高级管理人员列席了会议，符合《中华人民共和国公司法》和《公司章程》的 规定。 二、董事会会议审议情况 会议以记名投票表决方式，审议并通过了如下议案： 1、审议通过《关于第一期员工持股计划存续期展期的 ...

证券日报网讯 阳谷华泰（300121）11月17日在互动平台回答投资者提问时表示，公司目前生产经营正 常。 ...

Core Points - The company, Yanggu Huatai, reported that as of November 10, 2025, the number of shareholders is 28,717 [2] Company Summary - Yanggu Huatai has a total of 28,717 shareholders as of the specified date [2]

Core Viewpoint - Yanggu Huatai (300121.SZ) has stated on its investor interaction platform that its VC projects are currently not operational [1] Group 1 - The company has not yet commenced operations for its VC projects [1]