Group 1 - The company is closely monitoring the progress of the Yarlung Tsangpo River hydropower station project [2] - The company plans to actively seek participation in the construction of related projects either directly or through a joint venture with partners [2]

Core Viewpoint - Company is actively engaging in the semiconductor manufacturing sector and other industries by utilizing nanometer cerium oxide for various applications, indicating a strategic focus on market adaptability and product versatility [1] Group 1: Product Applications - Nanometer cerium oxide is used in semiconductor manufacturing for CMP ultra-precision processing [1] - It is also applied in ultra-precision processing of military and civilian optical glass [1] - The product serves as an anti-UV additive in cosmetics and chemical fiber industries [1] - Additionally, it functions as a catalyst assistant in waste gas treatment [1] Group 2: Market Feedback and Strategy - Company has received positive feedback from customers in the UV protection field [1] - It plans to flexibly adjust production and expansion plans based on market dynamics [1]

Investment Rating - Industry Rating: Neutral (maintained rating) [6] Core Viewpoints - The report highlights the recent price increases in key chemical products such as soda ash, organic silicon, and MDI, driven by strong demand and supply constraints [1][3] - The basic chemical sector outperformed the Shanghai and Shenzhen 300 index, with a weekly increase of 4.25% compared to 1.69% for the index, indicating a positive market sentiment [4][16] - The report suggests that the industry may be at a cyclical bottom, with a focus on supply-demand marginal changes [5] Summary by Sections Key News Tracking - The National Development and Reform Commission issued a revised method for energy consumption and carbon emission management for fixed asset investment projects, which is expected to enhance energy efficiency reviews [1][13] Product Price Monitoring - Key chemical products saw significant price changes, with organic silicon and TDI prices increasing by 11.6% and 6.8% respectively, while DMF and acetic acid prices decreased by 5.7% and 1.3% [2][26] - The report notes that 85 out of 345 tracked chemical products experienced price increases, while 79 saw declines [26] Sector Performance - The basic chemical sector's weekly performance was strong, with notable increases in synthetic resin (+21.94%), soda ash (+14.45%), and organic silicon (+9.01%) [4][18] - The report lists the top-performing stocks in the basic chemical sector, with significant gains for companies like Shangwei New Materials (+97.37%) and Henghe Precision (+64.42%) [21] Investment Insights - The report recommends focusing on sectors with stable demand and potential for recovery, such as organic silicon and amino acids, while also highlighting companies that may benefit from domestic demand [5][6] - It emphasizes the importance of supply-side reforms and cost factors in pricing strategies to mitigate market volatility [5]

Market Overview - As of July 23, the Shanghai Composite Index closed at 3582.30 points, with a slight increase of 0.44 points, representing a change of 0.01% [1] - The Shenzhen Component Index closed at 11059.04 points, down by 40.79 points, a decrease of 0.37% [1] - The ChiNext Index closed at 2310.67 points, with a minor decline of 0.19 points, or 0.01% [1] Trading Activity - A total of 101 A-shares had a turnover rate exceeding 20% on this day, indicating significant trading activity [1] - Notably, C Shanda and C Jiyuan had turnover rates above 50%, with 82.89% and 80.75% respectively, indicating a high level of liquidity and interest in these stocks [1] Top Stocks by Turnover Rate - C Shanda (301609) closed at 66.85 CNY, with a turnover rate of 82.89% and a remarkable increase of 356.00% [1] - C Jiyuan (603262) closed at 40.75 CNY, with a turnover rate of 80.75% and a significant rise of 274.54% [1] - Other notable stocks with high turnover rates include: - Guanlong Energy (301151) at 24.11 CNY, turnover rate of 72.29%, down by 5.67% [1] - Weiman Sealing (301161) at 29.81 CNY, turnover rate of 66.12%, down by 16.05% [1] - Southern Road Machinery (603280) at 34.75 CNY, turnover rate of 64.76%, up by 10.00% [1] Additional Noteworthy Stocks - Other stocks with notable trading activity include: - Sichuan Jinding (600678) at 11.15 CNY, turnover rate of 51.91%, down by 4.21% [1] - Baijia Technology (835857) at 9.56 CNY, turnover rate of 47.74%, up by 17.16% [1] - Jindun Co. (300411) at 15.77 CNY, turnover rate of 43.27%, down by 1.93% [1]

Core Viewpoint - The concrete admixture market in China is experiencing a downturn due to the ongoing adjustments in the real estate sector, leading to a projected market size decrease to 49.45 billion yuan in 2024, a year-on-year decline of 9.04% [1][10]. Industry Overview - The concrete admixture is defined as materials added to concrete to improve its performance, excluding cement, aggregates, water, and fibers [2]. - The industry is significantly influenced by macroeconomic factors such as economic growth and investment scale, with infrastructure investments providing some growth opportunities despite overall economic pressures [4]. Market Demand - The primary demand for concrete admixtures comes from infrastructure construction and the real estate market, with fixed asset investment in China projected at 51.437 trillion yuan in 2024, a growth of 3.2%, while real estate development investment is expected to decrease by 10.6% [8]. - The concrete production volume is anticipated to drop to 2.101 billion cubic meters in 2024, reflecting a year-on-year decrease of 12.34% [8]. Competitive Landscape - The concrete admixture industry is facing intense competition, with many companies struggling due to a prolonged downturn in demand, particularly from the real estate sector transitioning from new construction to existing property management [13]. - Despite the challenges, several companies have distinguished themselves through superior technology and product quality, as evidenced by the top ten companies listed in the concrete admixture sector [13]. Key Companies - Jiangsu Subote New Materials Co., Ltd. reported a total revenue of 3.555 billion yuan in 2024, with 2.583 billion yuan from admixture business, accounting for 72.66% of total revenue [15]. - Leizhi Holding Group Co., Ltd. achieved a revenue of 2.617 billion yuan in 2024, with 1.955 billion yuan from admixture materials, representing 74.70% of total revenue [17]. Development Trends - The demand for high-performance admixtures is expected to grow, including multifunctional admixtures that can reduce costs and improve construction efficiency [19]. - There is a rising trend towards environmentally friendly admixtures, with companies encouraged to develop and apply bio-based and low-VOC products to meet market demands for green building materials [19].

Core Viewpoint - The company has reached a debt restructuring agreement with Beijing Jindun and Zhonghuan Rongteng to recover outstanding receivables totaling 27.69 million yuan, with a significant portion of the debt being waived to facilitate cash flow and improve financial conditions [2][4]. Group 1: Debt Details - Sichuan Hengze, a wholly-owned subsidiary of the company, has a total receivable of 21.43 million yuan from Beijing Jindun and Zhonghuan Rongteng, of which 24.80 million yuan is owed by Beijing Jindun and 2.89 million yuan by Zhonghuan Rongteng [2][3]. - Beijing Jindun will pay 6.26 million yuan in installments, starting with 1 million yuan upon account unfreezing, followed by monthly payments of 300,000 yuan starting June 2025, and the remaining balance by June 30, 2026 [3]. Group 2: Financial Impact - The debt restructuring is expected to enhance the company's cash flow and operational efficiency, positively impacting its financial status and operating results [4]. - The company has already fully provisioned for bad debts related to these receivables, meaning the debt waiver will not affect its profits, and it anticipates a positive impact on operating profit in 2025 as it reverses provisions based on repayment progress [5].

一、审议通过了《关于全资子公司部分应收款项进行债务重组的议案》，其 中同意 5 票，反对 0 票，弃权 0 票。 经审议：本次债务重组对方北京金盾建材有限公司及北京中环荣腾建材有限 公司与公司无关联关系，不构成关联交易，亦不构成《上市公司重大资产重组管 理办法》规定的重大资产重组。监事会认为：本次债务重组有助于公司资金周转 及运营效率，对公司本期财务状况和经营成果产生积极影响。 详情内容请见公司于同日在中国证监会指定的信息披露网站巨潮资讯网刊 登的《关于全资子公司部分应收款项进行债务重组的公告》。 证券代码：300405 证券简称：科隆股份 公告编号：2025-026 辽宁科隆精细化工股份有限公司 第六届监事会第三次会议决议公告 本公司及监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、误导性陈述和重大遗漏。 辽宁科隆精细化工股份有限公司（以下简称"公司"）第六届监事会第三次 会议的通知已于 2025 年 6 月 6 日送达各位监事，并于 2025 年 6 月 10 日在公司 二楼会议室以现场会议方式召开。应到监事 5 人，实到监事 5 人。会议召开及表 决符合《公司法》及《公司章程》的有关规 ...

辽宁科隆精细化工股份有限公司 证券代码：300405 证券简称：科隆股份 公告编号：2025-025 第六届董事会第三次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 一、董事会会议召开情况 辽宁科隆精细化工股份有限公司（以下简称"本公司"或"公司"）于 2025 年 6 月 10 日召开第六届董事会第三次会议。 1、发出会议通知的时间和方式：2025 年 6 月 6 日以书面、邮件方式通知各 位董事； 2、会议召开时间：2025 年 6 月 10 日上午； 3、会议召开地点：公司二楼会议室； 4、会议召开方式：现场会议方式召开； 5、会议出席情况：本次会议应到董事 9 人，实到董事 9 人，本公司监事、 高级管理人员列席会议。 6、会议主持人：董事长姜艳女士； 二、董事会会议审议情况 本次会议审议并通过如下决议： 审议通过《关于全资子公司部分应收款项进行债务重组的议案》（议案 1） 为加快资金回笼、优化公司财务状况，公司全资子公司四川恒泽建材有限公 司作为债权人，对北京金盾建材有限公司及北京中环荣腾建材有限公司以减免部 分债务的方式实现债务清收、 ...

辽宁科隆精细化工股份有限公司（以下简称"公司"或"科隆股份"）的全 资子公司四川恒泽建材有限公司（以下简称"四川恒泽"）与北京金盾建材有限 公司（以下简称"北京金盾"）及北京中环荣腾建材有限公司（以下简称"中环 荣腾"）在 2013 年至 2020 年合作期间，四川恒泽向北京金盾和中环荣腾总供货 金额合计 213,349,193.56 元 , 截 至 本 公 告 日 ， 所 形 成 的 应 收 款 合 计 27,691,719.11 元，公司已对北京金盾与中环荣腾的应收款全额计提了坏账准 备。受市场环境影响，北京金盾、中环荣腾出现货款收回难、资金紧张的情况， 同时四川恒泽对于北京金盾、中环荣腾的应收款项与其管理层多次催要催收均无 果。四川恒泽已向成都市新津县法院向北京金盾提起诉讼（案号为（2025）川 0118 民初 2038 号），公司考虑到应收款项的清收难度，为加快资金回笼、优化 公司财务状况，经双方沟通达成债务重组方案。 公司于 2025 年 6 月 10 日召开了第六届董事会第三次会议和第六届监事会第 三次会议，审议通过了《关于全资子公司部分应收款项进行债务重组的议案》。 公司董事会授权公司管理层负责 ...

康达股会字【2025】第 0230 号 北京市朝阳区建外大街丁 12 号英皇集团中心 8、9、11 层 8/9/11/F, Emperor Group Centre, No.12D, Jianwai Avenue, Chaoyang District, Beijing, 100022, P.R.China 电话/Tel.:010-50867666 传真/Fax:010-56916450 网址/Website:www.kangdalawyers.com 北京 西安 深圳 海口 上海 广州 杭州 沈阳 南京 天津 菏泽 成都 苏州 呼和浩特 香港 武汉 郑州 长沙 厦门 重庆 合肥 宁波 济南 昆明 南昌 北京市康达律师事务所关于 辽宁科隆精细化工股份有限公司 2024 年年度股东大会的法律意见书 致：辽宁科隆精细化工股份有限公司 根据《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》"）、《上市公司股东会规则》（以下简称"《股东会规则》"） 等法律、法规、规范性文件及《辽宁科隆精细化工股份有限公司章程》（以下简称"《公 司章程》"）、辽宁科隆精细化工股份有限公司 ...