证券代码：300641 证券简称：正丹股份 公告编号：2025-038 江苏正丹化学工业股份有限公司 关于召开 2025 年第二次临时股东大会的通知 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。 经江苏正丹化学工业股份有限公司（以下简称"公司"）第五届董事会第十一 次会议审议通过，决定召开 2025 年第二次临时股东大会。现将有关事项通知如 下： 一、召开会议的基本情况 1．股东大会届次：2025 年第二次临时股东大会。 2．股东大会的召集人：公司董事会。 3．会议召开的合法、合规性：公司第五届董事会第十一次会议审议通过了 《关于提议召开公司 2025 年第二次临时股东大会的议案》，本次股东大会会议召 开符合有关法律、行政法规、部门规章、规范性文件和公司章程的相关规定。 4．会议召开的日期、时间： （1）现场会议召开时间为：2025 年 8 月 18 日（星期一）下午 14:30； （2）网络投票时间为：2025 年 8 月 18 日，其中： ① 通过深圳证券交易所交易系统进行网络投票的具体时间为：2025 年 8 月 18 日 9:15－9:25，9:30 ...

证券代码：300641 证券简称：正丹股份 公告编号：2025-030 江苏正丹化学工业股份有限公司 第五届监事会第十次会议决议公告 本公司及监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。 表决结果：3 票同意，0 票反对，0 票弃权。 一、监事会会议召开情况 1、江苏正丹化学工业股份有限公司（以下简称"公司"）第五届监事会第十 次会议于 2025 年 7 月 21 日以电子邮件等方式发出通知，并于 2025 年 7 月 31 日在公司会议室以现场结合通讯的方式召开。 2、本次会议应出席监事 3 名，实际出席监事 3 名。 3、本次会议由监事会主席周伟林先生主持，公司董事会秘书列席了会议。 4、本次会议的召开符合有关法律、行政法规、部门规章、规范性文件和公 司章程的规定。 二、监事会会议审议情况 1、审议通过了《2025 年半年度报告及其摘要》 经审核，监事会认为：董事会编制和审核公司 2025 年半年度报告的程序符 合法律、行政法规和中国证监会的规定，报告内容真实、准确、完整地反映了上 市公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 具体内容详见公司 ...

（文章来源：证券日报） 证券日报网讯正丹股份7月31日在互动平台回答投资者提问时表示，公司与持股5%以上股东华杏投资 （镇江）有限公司共同投资在马来西亚建设生产基地，具体内容详见公司披露的有关公告。 ...

证券代码：300641 证券简称：正丹股份 公告编号：2025-029 江苏正丹化学工业股份有限公司 第五届董事会第十一次会议决议公告 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。 一、董事会会议召开情况 1、江苏正丹化学工业股份有限公司（以下简称"公司"）第五届董事会第十 一次会议于 2025 年 7 月 21 日以电子邮件等方式发出通知，并于 2025 年 7 月 31 日在公司会议室以现场结合通讯的方式召开。 2、本次会议应出席董事 9 名，实际出席董事 9 名（其中：范明华女士、范 明先生、周爱华先生、曹翠琼女士、荆晓平先生、任伟先生以通讯表决方式出 席）。 3、本次会议由公司董事长曹正国先生主持，公司监事及高级管理人员列席 了会议。 4、本次会议的召开符合有关法律、行政法规、部门规章、规范性文件和公 司章程的规定。 二、董事会会议审议情况 1、审议通过了《2025 年半年度报告及其摘要》 具体内容详见公司同日在巨潮资讯网（www.cninfo.com.cn）披露的《2025 年 半年度报告》及《2025 年半年度报告摘要》。 公司董事会出具了《20 ...

证券代码：300641 证券简称：正丹股份 公告编号：2025-034 江苏正丹化学工业股份有限公司 关于 2025 年中期利润分配方案的公告 根据《公司法》、《上市公司股份回购规则》等有关规定，公司通过回购专 用账户持有的本公司股份，不享有利润分配的权利。 若在利润分配方案实施前公司享有利润分配权的股份总数由于可转债转股、 股份回购、股权激励行权、再融资新增股份上市等原因而发生变化的，将按照分 配比例不变的原则对分配总额进行调整。 二、利润分配方案的合法性、合规性、合理性 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。 江苏正丹化学工业股份有限公司（以下简称"公司"）于 2025 年 5 月 16 日召 开 2024 年年度股东大会，审议通过了《关于 2025 年中期分红安排的议案》，同 意授权董事会在符合利润分配原则、保证公司正常经营和长远发展的前提下，根 据《公司法》和《公司章程》的规定制定具体的中期分红方案。公司于 2025 年 7 月 31 日召开了第五届董事会第十一次会议和第五届监事会第十次会议，审议 通过了《关于 2025 年中期利润分配方案的议 ...

Core Viewpoint - Zhengdan Co., Ltd. reported a revenue of 1.429 billion yuan for the first half of 2025, reflecting a year-on-year growth of 3.37% [1] - The net profit attributable to shareholders reached 630 million yuan, marking a significant year-on-year increase of 120.35% [1] - The company proposed a cash dividend of 3 yuan (including tax) for every 10 shares to all shareholders [1] Financial Performance - Revenue for the reporting period was 1.429 billion yuan, up 3.37% compared to the previous year [1] - Net profit attributable to shareholders was 630 million yuan, showing a year-on-year growth of 120.35% [1] - Net profit excluding non-recurring gains and losses was 623 million yuan, with a year-on-year increase of 119.19% [1] - Basic earnings per share were reported at 1.2 yuan [1] Product Pricing and Margins - Prices for anhydride and ester products increased compared to the same period last year, contributing to an improvement in gross margin [1]

[Section 1 Important Notices, Table of Contents, and Definitions](index=2&type=section&id=Section%201%20Important%20Notices%2C%20Table%20of%20Contents%2C%20and%20Definitions) [Important Notices](index=2&type=section&id=Important%20Notices) The company's management guarantees the truthfulness, accuracy, and completeness of the semi-annual report and assumes legal responsibility - The Board of Directors, Supervisory Committee, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report's content and assume legal responsibility[3](index=3&type=chunk) - The company's responsible person, Cao Zhengguo, the person in charge of accounting, Cao Guiyun, and the head of the accounting department, Cao Guiyun, declare that the financial report in this semi-annual report is true, accurate, and complete[3](index=3&type=chunk) - The profit distribution plan approved by the Board of Directors is a cash dividend of **RMB 3 (tax included) for every 10 shares**, with no bonus shares or conversion of capital reserve[3](index=3&type=chunk) [Table of Contents](index=3&type=section&id=Table%20of%20Contents) This section lists the complete directory structure of the report, providing an overall framework for investors - The report is divided into eight main sections, covering aspects such as company operations, finance, governance, and significant events[5](index=5&type=chunk) [List of Reference Documents](index=4&type=section&id=List%20of%20Reference%20Documents) This section provides a list of reference documents for the semi-annual report, ensuring information is available for review - Reference documents include the semi-annual report text signed by the legal representative, financial statements, original information disclosure documents, and other materials[7](index=7&type=chunk) - All reference documents are kept at the company's Securities Affairs Department[8](index=8&type=chunk) [Definitions](index=5&type=section&id=Definitions) This section defines key terms used in the report to ensure clear understanding of its content - Defines the company and its main subsidiaries, such as Hong Kong Zhengdan, Zhenjiang Zhengdan, Suzhou Zhengdan, Singapore Zhengdan, and Malaysia Huadan[9](index=9&type=chunk) - Explains core product names, chemical formulas, and main uses, including Trimellitic Anhydride (TMA), Trioctyl Trimellitate (TOTM), Vinyl Toluene (VT), and Durene[9](index=9&type=chunk) - Clarifies industry-specific terms such as plasticizers, PVC, DOP, DBP, DINP, trimellitate plasticizers, DOTP, and DVB[9](index=9&type=chunk) [Section 2 Company Profile and Key Financial Indicators](index=6&type=section&id=Section%202%20Company%20Profile%20and%20Key%20Financial%20Indicators) [I. Company Profile](index=6&type=section&id=I.%20Company%20Profile) Jiangsu Zhengdan Chemical Industry Co, Ltd, stock ticker "Zhengdan股份" (300641), is listed on the Shenzhen Stock Exchange - Stock Ticker: Zhengdan股份, Stock Code: 300641, Listing Exchange: Shenzhen Stock Exchange[11](index=11&type=chunk) - The company's legal representative is Cao Zhengguo[11](index=11&type=chunk) [II. Contact Persons and Methods](index=6&type=section&id=II.%20Contact%20Persons%20and%20Methods) Contact information for the Board Secretary and Securities Affairs Representative is disclosed to facilitate investor communication - Board Secretary: Li Tiegang; Securities Affairs Representative: Chen Yalu[12](index=12&type=chunk) - Contact Phone: 0511-88059006; Email: stock@zhengdanchem.com[12](index=12&type=chunk) [III. Other Information](index=6&type=section&id=III.%20Other%20Information) No changes occurred in the company's registered address, office address, website, or information disclosure locations during the reporting period - The company's contact information, information disclosure and filing locations, and registration changes remained unchanged during the reporting period[13](index=13&type=chunk)[14](index=14&type=chunk)[15](index=15&type=chunk) [IV. Key Accounting Data and Financial Indicators](index=7&type=section&id=IV.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) The company's operating revenue grew by 3.37%, while net profit attributable to shareholders surged by 120.35% Key Accounting Data and Financial Indicators (Current Period vs. Same Period Last Year) | Indicator | Current Period (RMB) | Same Period Last Year (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,428,744,599.17 | 1,382,165,930.21 | 3.37% | | Net Profit Attributable to Shareholders | 630,005,990.33 | 285,917,101.46 | 120.35% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 622,959,391.54 | 284,215,216.11 | 119.19% | | Net Cash Flow from Operating Activities | 869,172,636.10 | 65,764,563.16 | 1,221.64% | | Basic Earnings Per Share (RMB/share) | 1.20 | 0.58 | 106.90% | | Diluted Earnings Per Share (RMB/share) | 1.18 | 0.58 | 103.45% | | Weighted Average Return on Equity | 20.39% | 16.50% | 3.89% | | **Period-End Indicators** | **End of Current Period (RMB)** | **End of Last Year (RMB)** | **Change (%)** | | Total Assets | 3,388,746,163.90 | 3,076,435,919.47 | 10.15% | | Net Assets Attributable to Shareholders | 3,273,491,486.68 | 2,799,876,256.30 | 16.92% | [V. Differences in Accounting Data under Domestic and Foreign Accounting Standards](index=7&type=section&id=V.%20Differences%20in%20Accounting%20Data%20under%20Domestic%20and%20Foreign%20Accounting%20Standards) There were no discrepancies in net profit or net assets between financial reports prepared under Chinese and international accounting standards - The company had no differences in accounting data under domestic and foreign accounting standards during the reporting period[17](index=17&type=chunk)[18](index=18&type=chunk) [VI. Non-recurring Profit and Loss Items and Amounts](index=7&type=section&id=VI.%20Non-recurring%20Profit%20and%20Loss%20Items%20and%20Amounts) Non-recurring profit and loss for the period totaled RMB 7.05 million, mainly from investment income and government grants Non-recurring Profit and Loss Items and Amounts | Item | Amount (RMB) | Description | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | -168,261.49 | Loss on disposal of fixed assets | | Government Grants Included in Current Profit/Loss | 368,900.00 | Government grants related to income | | Fair Value Changes and Disposal Gains/Losses on Financial Assets/Liabilities Held by Non-financial Enterprises | 8,141,607.98 | Investment income from cash management of idle funds | | Other Non-operating Income and Expenses | -51,953.80 | | | Less: Income Tax Impact | 1,243,693.90 | | | **Total** | **7,046,598.79** | | [Section 3 Management Discussion and Analysis](index=9&type=section&id=Section%203%20Management%20Discussion%20and%20Analysis) [I. Principal Business Activities during the Reporting Period](index=9&type=section&id=I.%20Principal%20Business%20Activities%20during%20the%20Reporting%20Period) The company specializes in fine chemicals and high-end new materials, with core products including TMA, TOTM, and VT - The company is a high-tech enterprise in the specialty fine chemicals sector, dedicated to providing high-end environmentally friendly new material products[23](index=23&type=chunk) - Key products include Trimellitic Anhydride (TMA), Trioctyl Trimellitate (TOTM), Vinyl Toluene (VT), and Durene, holding leading positions in domestic and international markets[23](index=23&type=chunk)[34](index=34&type=chunk) - During the reporting period, TMA product prices gradually declined from a high point, but sales revenue from anhydride and ester products **increased by 24.34% year-on-year**, mainly due to higher average selling prices[25](index=25&type=chunk)[36](index=36&type=chunk) - The company's main business benefits from national policies promoting the transition of the fine chemical industry towards high-end and green development[31](index=31&type=chunk)[32](index=32&type=chunk)[33](index=33&type=chunk) [1. Overview of Principal Business](index=9&type=section&id=1.%20Overview%20of%20Principal%20Business) The company develops, produces, and sells high-performance new materials along the aromatics industrial chain to drive industry upgrades - The company's main business revolves around the aromatics industrial chain, focusing on R&D, production, and sales of high-performance, eco-friendly, and high-value-added new material products[23](index=23&type=chunk) - The company has a scale advantage in the production of products like Trimellitic Anhydride and Trioctyl Trimellitate, holding a leading position in domestic and international markets[23](index=23&type-chunk) - During the reporting period, the company's main business did not undergo significant changes[23](index=23&type=chunk) [2. Situation of Major Product Segments](index=9&type=section&id=2.%20Situation%20of%20Major%20Product%20Segments) Key products TMA and TOTM serve high-end applications, with TMA prices falling from a peak in the reporting period - TMA is primarily used in the production of eco-friendly plasticizers (TOTM), powder coating resins, polyamide-imide insulating varnishes, and high-grade lubricants[24](index=24&type=chunk)[25](index=25&type=chunk) - In 2024, overseas market demand for Chinese TMA increased significantly, leading to a sharp rise in product prices, which gradually fell from their peak during the reporting period[25](index=25&type=chunk) - As an eco-friendly plasticizer, TOTM has huge demand in the wire and cable, automotive, and medical industries, benefiting from national new infrastructure development[26](index=26&type=chunk)[27](index=27&type=chunk) - Durene is a key raw material for producing polyimide polymer (PI), which has wide applications in aerospace, electrical insulation, and other fields[29](index=29&type=chunk) [3. Company's Main Business Model](index=10&type=section&id=3.%20Company's%20Main%20Business%20Model) The company operates on a "factory-to-factory" model, organizing production based on orders, plans, and inventory levels - The company adopts a "factory-to-factory" operational model, purchasing raw materials and organizing production based on sales orders, plans, and inventory[30](index=30&type=chunk) - Procurement is mainly through direct supply, while sales are primarily directed at downstream manufacturers and some traders[30](index=30&type=chunk) - During the reporting period, the company's main business model did not undergo significant changes[30](index=30&type=chunk) [4. Analysis of the Company's Industry](index=10&type=section&id=4.%20Analysis%20of%20the%20Company's%20Industry) The fine chemical industry is transitioning towards high-end, green development, supported by national policies and safety standards - The company belongs to the fine chemical sub-sector, benefiting from national policies promoting the industry's transition to high-end and green development[31](index=31&type=chunk)[32](index=32&type=chunk)[33](index=33&type=chunk) - The implementation of the "Safety Management Specification for Fine Chemical Enterprises" has improved the intrinsic safety level of the industry[33](index=33&type=chunk) - Green finance policies provide financial support and guarantees for the green transformation of the fine chemical industry[33](index=33&type=chunk) [5. Company's Market Position](index=10&type=section&id=5.%20Company's%20Market%20Position) The company's main products hold leading positions in both domestic and international markets due to strong technical advantages - The company's main products hold leading positions in both domestic and international markets, with product competitiveness and market share at the forefront of the industry[34](index=34&type=chunk) - The company has established a strong brand image and reputation in its sub-sectors[34](index=34&type=chunk) [6. Key Performance Drivers](index=10&type=section&id=6.%20Key%20Performance%20Drivers) Revenue and net profit growth were primarily driven by increased sales prices and higher gross margins for anhydride and ester products Key Performance Drivers | Indicator | Current Period (RMB 10,000) | YoY Change (%) | Driving Factors | | :--- | :--- | :--- | :--- | | Operating Revenue | 142,874.46 | 3.37% | Increased average selling price of anhydride and ester products | | Sales Revenue of Anhydride and Ester Products | 126,270.30 | 24.34% | Average selling price increased compared to the same period last year | | Sales Revenue of High-Boiling Aromatic Products | 14,660.19 | Decrease | The company reduced the production and sales of by-product high-boiling aromatic solvents | | Net Profit Attributable to Shareholders | 63,000.60 | 120.35% | Prices of anhydride and ester products rose compared to the same period last year, leading to higher gross margins | [II. Core Competitiveness Analysis](index=11&type=section&id=II.%20Core%20Competitiveness%20Analysis) The company's core strengths lie in its technological leadership, industrial chain layout, management, and brand advantages - The company adheres to technological innovation, has been recognized as a high-tech enterprise and a "specialized, refined, unique, and new" enterprise in Jiangsu Province, and holds multiple core technologies and independent intellectual property rights[37](index=37&type=chunk) - The company extends its presence up and down the aromatics industrial chain, broadening raw material supply channels and developing more competitive products to effectively control costs and risks[39](index=39&type=chunk) - The company has established a modern scientific management system covering procurement, production, quality control, cost management, marketing, R&D, brand building, and safety and environmental protection[40](index=40&type=chunk) - The company's main products hold a dominant market position, and it has rapidly grown into a leading brand in the trioctyl trimellitate market segment[41](index=41&type=chunk) [1. Technological Leadership Advantage](index=11&type=section&id=1.%20Technological%20Leadership%20Advantage) The company is recognized as a high-tech enterprise and continues to innovate, holding multiple intellectual property honors - The company has been repeatedly recognized as a "High-Tech Enterprise" and is a "specialized, refined, unique, and new" enterprise in Jiangsu Province, as well as an intellectual property demonstration enterprise in China's petroleum and chemical industry[37](index=37&type=chunk) - The company's invention patent "A Method for Continuous Production of Trimellitic Anhydride" won the 25th China Patent Excellence Award[37](index=37&type=chunk) - The company will continue to increase R&D investment, focusing on enhancing its technological advantages in high-grade eco-friendly plasticizers like TOTM, TINTM, and TM810[38](index=38&type=chunk) [2. Industrial Chain Layout Advantage](index=11&type=section&id=2.%20Industrial%20Chain%20Layout%20Advantage) The company's strategic layout along the aromatics industrial chain enhances its cost control and risk management capabilities - Extending upstream in the industrial chain broadens the variety and supply channels of raw materials, improving the flexibility of the procurement system, enhancing bargaining power, and reducing production costs[39](index=39&type=chunk) - Extending downstream in the industrial chain facilitates the development of more competitive products, thereby increasing the company's profitability[39](index=39&type=chunk) - The procurement of multiple raw material varieties and a diverse product layout effectively mitigate the impact of price fluctuations, enhancing the company's risk resilience[39](index=39&type=chunk) [3. Management Advantage](index=11&type=section&id=3.%20Management%20Advantage) A modern scientific management system and a comprehensive internal control framework support the company's sustainable development - The company has established a modern scientific management system covering raw material procurement, production operations, quality control, cost management, marketing, new product development, brand building, and safety and environmental protection[40](index=40&type=chunk) - The company has a relatively complete internal control system, laying a solid foundation for its sustained and healthy development[40](index=40&type=chunk) [4. Brand Advantage](index=11&type=section&id=4.%20Brand%20Advantage) The company holds a dominant market position and has become a leading brand in the trioctyl trimellitate segment - The company's main products hold a dominant position in the market, and it has become a leading brand in the trioctyl trimellitate market segment[41](index=41&type=chunk) - The company has established a strong brand image and reputation through outstanding product quality, technical expertise, and service levels, fostering long-term stable partnerships with key enterprises in the industry[41](index=41&type=chunk) [III. Analysis of Main Business Operations](index=11&type=section&id=III.%20Analysis%20of%20Main%20Business%20Operations) Operating costs decreased by 33.14% due to reduced production, while financial expenses fell significantly due to exchange gains Key Financial Data YoY Changes | Indicator | Current Period (RMB) | Same Period Last Year (RMB) | YoY Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 1,428,744,599.17 | 1,382,165,930.21 | 3.37% | | | Operating Costs | 692,424,996.43 | 1,035,640,978.28 | -33.14% | Reduced production and sales of high-boiling aromatic products | | Financial Expenses | -42,339,877.23 | -10,601,030.28 | -299.39% | Increased exchange gains and interest income | | Income Tax Expense | 108,796,088.28 | 50,126,724.41 | 117.04% | Increased profits led to a corresponding increase in income tax expense | | R&D Investment | 44,927,534.61 | 38,267,628.29 | 17.40% | Increased investment due to new R&D projects in the reporting period | | Net Cash Flow from Operating Activities | 869,172,636.10 | 65,764,563.16 | 1,221.64% | Increased cash inflows and decreased outflows from operating activities | | Net Cash Flow from Investing Activities | -772,234,135.61 | -257,540,256.59 | -199.85% | Increased use of idle funds to purchase bank wealth management products | | Net Cash Flow from Financing Activities | -283,173,505.80 | -22,929,768.98 | -1,134.96% | Decreased cash inflows from financing activities and increased dividend payments | | Taxes and Surcharges | 14,942,513.89 | 4,926,568.80 | 203.30% | Increased VAT payments led to higher surcharges | | Investment Income | 3,867,860.35 | -1,273,270.61 | 403.77% | Increased income from wealth management products and decreased interest on discounted notes | | Fair Value Change Gains | 3,685,641.85 | 1,645,181.32 | 124.03% | Increased value of trading financial assets held at period-end | Products or Services Accounting for Over 10% of Revenue | Product/Service | Operating Revenue (RMB) | Operating Costs (RMB) | Gross Margin (%) | Revenue YoY Change (%) | Cost YoY Change (%) | Gross Margin YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Anhydrides and Esters | 1,262,702,963.51 | 525,533,226.26 | 58.38% | 24.34% | -20.48% | 23.46% | | High-Boiling Aromatic Solvents | 146,601,946.58 | 153,569,226.91 | -4.75% | -57.97% | -57.49% | -1.20% | [IV. Analysis of Non-Main Business Operations](index=13&type=section&id=IV.%20Analysis%20of%20Non-Main%20Business%20Operations) Non-main business activities, primarily from financial asset gains, had a minor and non-sustainable impact on total profit Analysis of Non-Main Business Operations | Item | Amount (RMB) | % of Total Profit | Reason | Sustainability | | :--- | :--- | :--- | :--- | :--- | | Investment Income | 3,867,860.35 | 0.52% | Income from disposal of trading financial assets and interest on discounted notes | No | | Fair Value Change Gains | 3,685,641.85 | 0.50% | Fair value changes in trading financial assets | No | | Asset Impairment | -4,379,886.31 | -0.59% | Provision for inventory write-down | No | | Non-operating Income | 11,063.31 | 0.00% | Gain on disposal of non-current assets | No | | Non-operating Expenses | 231,278.60 | 0.03% | Loss on disposal of non-current assets | No | | Credit Impairment Loss | 592,541.97 | 0.08% | Reversal of bad debt provision for accounts receivable | No | [V. Analysis of Assets and Liabilities](index=13&type=section&id=V.%20Analysis%20of%20Assets%20and%20Liabilities) Total assets grew 10.15%, with a significant shift from cash to trading financial assets due to wealth management investments Significant Changes in Asset Composition | Item | End of Current Period (RMB) | % of Total Assets | End of Last Year (RMB) | % of Total Assets | Change in Proportion (%) | Reason for Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,194,540,929.30 | 35.25% | 1,352,387,139.84 | 43.96% | -8.71% | Increased purchase of wealth management products | | Accounts Receivable | 231,813,011.76 | 6.84% | 390,962,106.41 | 12.71% | -5.87% | Collection of payments | | Short-term Borrowings | 4,205,070.96 | 0.12% | 130,211,261.11 | 4.23% | -4.11% | Repayment of matured loans | | Trading Financial Assets | 743,685,641.85 | 21.95% | 0.00 | 0.00% | 21.95% | Increased purchase of wealth management products | - The company has no major overseas assets or restricted assets[50](index=50&type=chunk)[52](index=52&type=chunk) [1. Significant Changes in Asset Composition](index=13&type=section&id=1.%20Significant%20Changes%20in%20Asset%20Composition) Cash holdings decreased as funds were used to purchase wealth management products, leading to a rise in trading financial assets Significant Changes in Asset Composition | Item | End of Current Period (RMB) | % of Total Assets | End of Last Year (RMB) | % of Total Assets | Change in Proportion (%) | Reason for Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,194,540,929.30 | 35.25% | 1,352,387,139.84 | 43.96% | -8.71% | Increased purchase of wealth management products at period-end | | Accounts Receivable | 231,813,011.76 | 6.84% | 390,962,106.41 | 12.71% | -5.87% | Collection of payments | | Short-term Borrowings | 4,205,070.96 | 0.12% | 130,211,261.11 | 4.23% | -4.11% | Repayment of matured loans | | Trading Financial Assets | 743,685,641.85 | 21.95% | 0.00 | 0.00% | 21.95% | Increased purchase of wealth management products at period-end | [3. Assets and Liabilities Measured at Fair Value](index=13&type=section&id=3.%20Assets%20and%20Liabilities%20Measured%20at%20Fair%20Value) Financial assets measured at fair value totaled RMB 743.69 million, consisting entirely of trading financial assets Assets and Liabilities Measured at Fair Value | Item | Opening Balance (RMB) | Fair Value Change Gains/Losses (RMB) | Purchases during the Period (RMB) | Sales during the Period (RMB) | Closing Balance (RMB) | | :--- | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets | 0.00 | 3,685,641.85 | 2,750,000,000.00 | 2,010,000,000.00 | 743,685,641.85 | | Financial Liabilities | 0.00 | | | | 0.00 | [VI. Investment Analysis](index=14&type=section&id=VI.%20Investment%20Analysis) Total investment increased by 159.38% to RMB 2.79 billion, primarily in bank wealth management products and hedging derivatives Investment Amount during the Reporting Period | Indicator | Investment Amount (RMB) | Investment Amount Last Year (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Total Investment | 2,786,655,495.46 | 1,074,372,686.19 | 159.38% | Financial Assets Measured at Fair Value | Funding Source | Closing Balance (RMB) | | :--- | :--- | | Raised Funds | 90,000,000.00 | | Own Funds | 653,685,641.85 | | **Total** | **743,685,641.85** | - The company's overall utilization rate of raised funds is **86.59%**, with a cumulative investment of **RMB 876.28 million** in designated projects[57](index=57&type=chunk) - The "20,000 tons/year Vinyl Toluene Project" was terminated, and the remaining funds were redirected to the "15,000 tons/year High-Polymer Special Resin Monomer Series Project"[60](index=60&type=chunk)[63](index=63&type=chunk) - The company engaged in foreign exchange swap derivative investments for hedging purposes to mitigate currency risks, with a net gain of **RMB 0.39 million** after hedging[67](index=67&type=chunk) [1. Overall Situation](index=14&type=section&id=1.%20Overall%20Situation) The company's total investment for the reporting period was RMB 2.79 billion, a significant increase of 159.38% year-on-year Investment Amount during the Reporting Period | Indicator | Investment Amount (RMB) | Investment Amount Last Year (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Total Investment | 2,786,655,495.46 | 1,074,372,686.19 | 159.38% | [4. Financial Assets Measured at Fair Value](index=14&type=section&id=4.%20Financial%20Assets%20Measured%20at%20Fair%20Value) Financial assets measured at fair value totaled RMB 743.69 million, comprising bank wealth management products purchased with both raised and proprietary funds Financial Assets Measured at Fair Value | Funding Source | Closing Balance (RMB) | | :--- | :--- | | Raised Funds | 90,000,000.00 | | Own Funds | 653,685,641.85 | | **Total** | **743,685,641.85** | [5. Use of Raised Funds](index=15&type=section&id=5.%20Use%20of%20Raised%20Funds) The overall utilization rate of raised funds reached 86.59%, with some projects being altered due to market changes Overall Use of Raised Funds | Year of Fundraising | Method | Net Raised Funds (RMB 10,000) | Cumulative Used Funds (RMB 10,000) | Utilization Rate (%) | Funds with Changed Use (RMB 10,000) | | :--- | :--- | :--- | :--- | :--- | :--- | | 2017 | IPO | 69,881.91 | 60,998.89 | 87.29% | 15,610.11 | | 2021 | Convertible Bonds | 31,311.32 | 26,629.29 | 85.05% | 0 | | **Total** | | **101,193.23** | **87,628.18** | **86.59%** | **15,610.11** | - The "100,000 tons/year C9 Aromatic Hydrocarbon Efficient Extraction and Distillation Separation Project" and the "Engineering Technology R&D Center Construction Project" do not directly generate economic benefits[60](index=60&type=chunk) - The "20,000 tons/year Vinyl Toluene Project" was terminated, and the remaining raised funds were redirected to the "15,000 tons/year High-Polymer Special Resin Monomer Series Project"[60](index=60&type=chunk)[63](index=63&type=chunk) - The expected completion date for the "Comprehensive Utilization of Reaction Tail Gas for Nitrogen Production Project" has been adjusted to December 2025[61](index=61&type=chunk) [6. Entrusted Wealth Management, Derivative Investments, and Entrusted Loans](index=19&type=section&id=6.%20Entrusted%20Wealth%20Management%2C%20Derivative%20Investments%2C%20and%20Entrusted%20Loans) The company engaged in wealth management and hedging-purpose derivative investments, with no speculative activities or entrusted loans Overview of Entrusted Wealth Management during the Reporting Period | Type | Funding Source | Amount Incurred (RMB 10,000) | Outstanding Balance (RMB 10,000) | | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Raised Funds | 10,000 | 9,000 | | Bank Wealth Management Products | Own Funds | 72,000 | 65,000 | | **Total** | | **82,000** | **74,000** | Hedging-Purpose Derivative Investments during the Reporting Period | Derivative Type | Opening Amount (RMB 10,000) | Purchased Amount (RMB 10,000) | Sold Amount (RMB 10,000) | Closing Amount (RMB 10,000) | | :--- | :--- | :--- | :--- | :--- | | Foreign Exchange Swap | 0 | 66,100.16 | 66,100.16 | 0 | | **Total** | **0** | **66,100.16** | **66,100.16** | **0** | - The company's foreign exchange derivative transactions are primarily aimed at mitigating the risk of currency depreciation, with a net gain of **RMB 0.39 million** after hedging during the reporting period[67](index=67&type=chunk) - The company did not engage in speculative derivative investments or entrusted loans[69](index=69&type=chunk)[70](index=70&type=chunk) [VII. Sale of Major Assets and Equity](index=22&type=section&id=VII.%20Sale%20of%20Major%20Assets%20and%20Equity) No major assets or equity were sold during the reporting period - The company did not sell any major assets during the reporting period[71](index=71&type=chunk) - The company did not sell any major equity during the reporting period[72](index=72&type=chunk) [VIII. Analysis of Major Holding and Associated Companies](index=22&type=section&id=VIII.%20Analysis%20of%20Major%20Holding%20and%20Associated%20Companies) There was no disclosable information regarding major holding or associated companies during the reporting period - The company has no disclosable information on major holding and associated companies for the reporting period[72](index=72&type=chunk) [IX. Structured Entities Controlled by the Company](index=22&type=section&id=IX.%20Structured%20Entities%20Controlled%20by%20the%20Company) The company did not control any structured entities during the reporting period - The company did not have any controlled structured entities during the reporting period[73](index=73&type=chunk) [X. Risks Faced by the Company and Countermeasures](index=22&type=section&id=X.%20Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) The company faces risks from macroeconomic fluctuations, raw material price volatility, and production management, with corresponding mitigation strategies - The company faces macroeconomic fluctuation risks and will closely monitor economic trends to adjust its business policies[73](index=73&type=chunk) - To mitigate raw material price volatility risk, the company will strengthen inventory management and establish long-term partnerships with suppliers[73](index=73&type=chunk)[74](index=74&type=chunk) - To address the risk of falling product prices, the company will continue to increase R&D investment, optimize production processes, and launch new products to maintain a competitive edge[74](index=74&type=chunk)[75](index=75&type=chunk) - Regarding production management risks, the company will adhere to sustainable development principles, increase investment in safety and environmental protection, and strengthen management in these areas[75](index=75&type=chunk) [XI. Record of Investor Relations Activities during the Reporting Period](index=23&type=section&id=XI.%20Record%20of%20Investor%20Relations%20Activities%20during%20the%20Reporting%20Period) The company held an online performance briefing for all investors on April 25, 2025 Record of Investor Relations Activities during the Reporting Period | Date | Location | Method | Type of Counterparty | Main Topics and Materials Provided | | :--- | :--- | :--- | :--- | :--- | | April 25, 2025 | Value Online (www.ir online.cn) | Online Platform | Other (All investors of the 2024 online performance briefing) | 2024 online performance briefing, covering the company's core competitiveness in the TMA industry, TMA product supply and pricing, and future profit growth drivers | [XII. Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=23&type=section&id=XII.%20Formulation%20and%20Implementation%20of%20Market%20Value%20Management%20System%20and%20Valuation%20Enhancement%20Plan) The company has established a market value management system to align its market value with intrinsic value - The company has formulated and approved a "Market Value Management System," incorporating it into its corporate governance framework[77](index=77&type=chunk) - The company aims to achieve a dynamic match between market value and intrinsic value through value creation, communication, and maintenance, thereby creating sustainable returns for shareholders[77](index=77&type=chunk) - The company has not disclosed a valuation enhancement plan[77](index=77&type=chunk) [XIII. Implementation of the "Dual Improvement in Quality and Returns" Action Plan](index=23&type=section&id=XIII.%20Implementation%20of%20the%20%22Dual%20Improvement%20in%20Quality%20and%20Returns%22%20Action%20Plan) No "Dual Improvement in Quality and Returns" action plan was disclosed during the reporting period - The company did not disclose a "Dual Improvement in Quality and Returns" action plan announcement during the reporting period[78](index=78&type=chunk) [Section 4 Corporate Governance, Environment, and Society](index=24&type=section&id=Section%204%20Corporate%20Governance%2C%20Environment%2C%20and%20Society) [I. Changes in Directors, Supervisors, and Senior Management](index=24&type=section&id=I.%20Changes%20in%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) There were no changes in the company's directors, supervisors, or senior management during the reporting period - There were no changes in the company's directors, supervisors, and senior management during the reporting period[80](index=80&type=chunk) [II. Profit Distribution and Capitalization of Capital Reserve during the Reporting Period](index=24&type=section&id=II.%20Profit%20Distribution%20and%20Capitalization%20of%20Capital%20Reserve%20during%20the%20Reporting%20Period) The company plans to distribute a cash dividend of RMB 3 per 10 shares, totaling RMB 157.66 million Profit Distribution and Capitalization of Capital Reserve | Item | Amount/Quantity | | :--- | :--- | | Bonus Shares per 10 Shares (shares) | 0 | | Cash Dividend per 10 Shares (RMB) (tax included) | 3 | | Share Capital Base for Distribution Plan (shares) | 525,544,810 | | Cash Dividend Amount (RMB) (tax included) | 157,663,443.00 | | Total Cash Dividend (including other methods) (RMB) | 157,663,443.00 | | Distributable Profit (RMB) | 1,772,088,978.96 | | Ratio of Total Cash Dividend to Total Profit Distribution | 100.00% | - The company proposes to distribute a cash dividend of **RMB 3.00 (tax included) per 10 shares** to all shareholders, with no bonus shares or capitalization of capital reserve[81](index=81&type=chunk) [III. Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentives](index=24&type=section&id=III.%20Implementation%20of%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentives) The company has an effective employee stock ownership plan covering 42 employees, holding 0.47% of the total share capital - The company had no equity incentive plans during the reporting period[82](index=82&type=chunk) Effective Employee Stock Ownership Plans during the Reporting Period | Scope of Employees | Number of Employees | Total Shares Held (shares) | % of Total Share Capital | Funding Source | | :--- | :--- | :--- | :--- | :--- | | Directors (excluding independent directors), senior management, core employees, and technical backbones of the company and its subsidiaries | 42 | 2,509,260 | 0.47% | Employee compensation, self-raised funds, and other legally permitted methods | Shareholdings of Directors, Supervisors, and Senior Management in the Employee Stock Ownership Plan | Name | Position | Shares Held at Period-End (shares) | % of Total Share Capital | | :--- | :--- | :--- | :--- | | Ren Wei | Director, Deputy General Manager | 150,000 | 0.03% | | Wang Fu | Supervisor | 96,000 | 0.02% | | Li Tiegang | Board Secretary | 96,000 | 0.02% | - The first phase of the employee stock ownership plan voluntarily waives the voting rights of the shares held[83](index=83&type=chunk) - The total expense recognized for equity-settled share-based payments in this reporting period was **RMB 525,017.31**[83](index=83&type=chunk) [IV. Environmental Information Disclosure](index=26&type=section&id=IV.%20Environmental%20Information%20Disclosure) The company is included in the list of enterprises required to disclose environmental information by law - Jiangsu Zhengdan Chemical Industry Co, Ltd is included in the list of enterprises required to disclose environmental information by law[85](index=85&type=chunk) - The environmental information disclosure report can be found on the official website of the Jiangsu Provincial Department of Ecology and Environment[85](index=85&type=chunk) [V. Social Responsibility](index=26&type=section&id=V.%20Social%20Responsibility) The company adheres to strict safety production standards and has established a comprehensive safety management system - The company strictly complies with the "Safety Production Law" and other regulations, having formulated and implemented numerous safety management systems, operating procedures, and responsibility systems[86](index=86&type=chunk) - The company has established a safety production leadership group headed by the General Manager to enhance employee safety awareness and regularly conducts safety training and assessments[86](index=86&type=chunk) - The company promotes safety standardization, has built a risk classification and control system, and established an accident emergency response system[87](index=87&type=chunk) - During the reporting period, the company underwent **13 inspections** by various government departments and had no major violations of safety production laws or major safety accidents[88](index=88&type=chunk) [Section 5 Significant Events](index=27&type=section&id=Section%205%20Significant%20Events) [I. Commitments Fulfilled or Overdue by Relevant Parties during the Reporting Period](index=27&type=section&id=I.%20Commitments%20Fulfilled%20or%20Overdue%20by%20Relevant%20Parties%20during%20the%20Reporting%20Period) There were no fulfilled or overdue commitments by relevant parties during the reporting period - There were no commitments fulfilled or overdue by the company's actual controllers, shareholders, related parties, or acquirers during the reporting period[90](index=90&type=chunk) [II. Non-operational Fund Occupation by Controlling Shareholders and Other Related Parties](index=27&type=section&id=II.%20Non-operational%20Fund%20Occupation%20by%20Controlling%20Shareholders%20and%20Other%20Related%20Parties) There was no non-operational occupation of funds by controlling shareholders or other related parties during the reporting period - There were no instances of non-operational fund occupation by controlling shareholders or other related parties during the reporting period[91](index=91&type=chunk) [III. Irregular External Guarantees](index=27&type=section&id=III.%20Irregular%20External%20Guarantees) The company had no irregular external guarantees during the reporting period - The company had no irregular external guarantees during the reporting period[92](index=92&type=chunk) [IV. Appointment and Dismissal of Accounting Firm](index=27&type=section&id=IV.%20Appointment%20and%20Dismissal%20of%20Accounting%20Firm) The company's semi-annual report has not been audited - The company's semi-annual report has not been audited[93](index=93&type=chunk) [V. Explanation on "Non-standard Audit Report" by the Board, Supervisory Committee, and Audit Committee](index=27&type=section&id=V.%20Explanation%20on%20%22Non-standard%20Audit%20Report%22%20by%20the%20Board%2C%20Supervisory%20Committee%2C%20and%20Audit%20Committee) This section is not applicable as there was no non-standard audit report for the period - The company did not receive a non-standard audit report during the reporting period[94](index=94&type=chunk) [VI. Board's Explanation on the Previous Year's "Non-standard Audit Report"](index=27&type=section&id=VI.%20Board's%20Explanation%20on%20the%20Previous%20Year's%20%22Non-standard%20Audit%20Report%22) This section is not applicable as there was no non-standard audit report in the previous year - The company did not receive a non-standard audit report during the reporting period[94](index=94&type=chunk) [VII. Bankruptcy and Reorganization Matters](index=27&type=section&id=VII.%20Bankruptcy%20and%20Reorganization%20Matters) The company was not involved in any bankruptcy or reorganization matters during the reporting period - The company was not involved in any bankruptcy or reorganization matters during the reporting period[94](index=94&type=chunk) [VIII. Litigation Matters](index=27&type=section&id=VIII.%20Litigation%20Matters) The company had no major litigation or arbitration matters during the reporting period - The company had no major litigation or arbitration matters during the reporting period[95](index=95&type=chunk) - The company had no other litigation matters during the reporting period[95](index=95&type=chunk) [IX. Penalties and Rectifications](index=28&type=section&id=IX.%20Penalties%20and%20Rectifications) The company was not subject to any penalties or rectifications during the reporting period - The company was not subject to any penalties or rectifications during the reporting period[96](index=96&type=chunk) [X. Integrity Status of the Company, its Controlling Shareholder, and Actual Controller](index=28&type=section&id=X.%20Integrity%20Status%20of%20the%20Company%2C%20its%20Controlling%20Shareholder%2C%20and%20Actual%20Controller) There were no integrity issues concerning the company, its controlling shareholder, or actual controller during the reporting period - There were no integrity issues concerning the company, its controlling shareholder, or actual controller during the reporting period[97](index=97&type=chunk) [XI. Significant Related-Party Transactions](index=28&type=section&id=XI.%20Significant%20Related-Party%20Transactions) The company's main related-party transaction was the procurement of raw materials and a joint investment to establish a production base in Malaysia Related-Party Transactions in Connection with Daily Operations | Related Party | Transaction Type | Transaction Content | Amount (RMB 10,000) | % of Similar Transactions | Approved Limit (RMB 10,000) | Exceeded Limit | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Jiangsu Sopo Chemical Co, Ltd | Purchase from related party | Purchase of acetic acid and other raw materials | 1,540.07 | 99.09% | 4,000 | No | - The company, together with its shareholder Huaxing Investment, established a holding subsidiary in Singapore, Zhengdan Chemical SG Pte, Ltd, to build a production base in Malaysia[101](index=101&type=chunk) - The Malaysian subsidiary, Huadan Chemical (MY) Sdn, Bhd, has signed a land purchase agreement for a plot of **80,900 square meters** for a total of **16.54 million Malaysian Ringgit**[101](index=101&type=chunk) - The company had no related-party transactions involving the acquisition or sale of assets or equity, nor any related-party debt or credit transactions during the reporting period[98](index=98&type=chunk)[102](index=102&type=chunk) [1. Related-Party Transactions in Connection with Daily Operations](index=28&type=section&id=1.%20Related-Party%20Transactions%20in%20Connection%20with%20Daily%20Operations) The company purchased raw materials from Jiangsu Sopo Chemical Co, Ltd for RMB 15.40 million, within the approved limit Related-Party Transactions in Connection with Daily Operations | Related Party | Transaction Content | Amount (RMB 10,000) | % of Similar Transactions | Approved Limit (RMB 10,000) | Exceeded Limit | | :--- | :--- | :--- | :--- | :--- | :--- | | Jiangsu Sopo Chemical Co, Ltd | Purchase of acetic acid and other raw materials | 1,540.07 | 99.09% | 4,000 | No | [3. Related-Party Transactions involving Joint Outward Investment](index=28&type=section&id=3.%20Related-Party%20Transactions%20involving%20Joint%20Outward%20Investment) The company and a major shareholder jointly established a subsidiary in Singapore to build a production base in Malaysia - The company and Huaxing Investment (Zhenjiang) Co, Ltd jointly established a holding subsidiary in Singapore, Zhengdan Chemical SG Pte, Ltd (70% owned by the company)[101](index=101&type=chunk) - The Singaporean subsidiary will invest in and build a production base in Malaysia, and its subsidiary, Huadan Chemical (MY) Sdn, Bhd, has signed a land purchase agreement[101](index=101&type=chunk) - The land for the Malaysian production base covers an area of **80,900 square meters** with a total cost of **16.54 million Malaysian Ringgit**[101](index=101&type=chunk) [XII. Significant Contracts and Their Performance](index=29&type=section&id=XII.%20Significant%20Contracts%20and%20Their%20Performance) The company had no custody, contracting, leasing, or major guarantee matters during the reporting period - The company had no custody, contracting, or leasing matters during the reporting period[106](index=106&type=chunk)[107](index=107&type=chunk)[108](index=108&type=chunk) - The company had no major guarantee situations during the reporting period[109](index=109&type=chunk) - The company had no other significant contracts during the reporting period[112](index=112&type=chunk) [XIII. Explanation of Other Significant Matters](index=30&type=section&id=XIII.%20Explanation%20of%20Other%20Significant%20Matters) There were no other significant matters to be explained during the reporting period - There were no other significant matters requiring explanation during the reporting period[113](index=113&type=chunk) [XIV. Significant Matters of Subsidiaries](index=30&type=section&id=XIV.%20Significant%20Matters%20of%20Subsidiaries) There were no significant matters concerning the company's subsidiaries during the reporting period - There were no significant matters concerning the company's subsidiaries during the reporting period[114](index=114&type=chunk) [Section 6 Share Changes and Shareholder Information](index=31&type=section&id=Section%206%20Share%20Changes%20and%20Shareholder%20Information) [I. Share Changes](index=31&type=section&id=I.%20Share%20Changes) The company's total number of shares and shareholding structure remained unchanged during the reporting period Share Changes | Share Type | Before Change (shares) | Before Change (%) | Change (+, -) (shares) | After Change (shares) | After Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 0 | 0.00% | 0 | 0 | 0.00% | | II. Unrestricted Shares | 532,682,322 | 100.00% | 0 | 532,682,322 | 100.00% | | III. Total Shares | 532,682,322 | 100.00% | 0 | 532,682,322 | 100.00% | - The company's total number of shares and shareholding structure did not change during the reporting period[117](index=117&type=chunk) - There were no changes in restricted shares[118](index=118&type=chunk) [II. Securities Issuance and Listing](index=32&type=section&id=II.%20Securities%20Issuance%20and%20Listing) The company did not issue or list any securities during the reporting period - The company did not issue or list any securities during the reporting period[118](index=118&type=chunk) [III. Number of Shareholders and Shareholdings](index=32&type=section&id=III.%20Number%20of%20Shareholders%20and%20Shareholdings) At the end of the period, the company had 53,725 common shareholders, with the top three shareholders acting in concert - At the end of the reporting period, the total number of common shareholders was **53,725**[119](index=119&type=chunk) Shareholdings of Top 10 Shareholders or Those Holding Over 5% | Shareholder Name | Nature | Shareholding (%) | Shares Held at Period-End (shares) | Unrestricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | | He Xing Enterprise Limited | Foreign Legal Entity | 23.81% | 126,808,300 | 126,808,300 | | Huaxing Investment (Zhenjiang) Co, Ltd | Domestic Non-state-owned Legal Entity | 22.36% | 119,085,800 | 119,085,800 | | Zhenjiang Lihao Investment Co, Ltd | Domestic Non-state-owned Legal Entity | 7.87% | 41,909,340 | 41,909,340 | | Zhejiang Yinwan Private Equity Fund Management Co, Ltd - Yinwan Banyan No. 6 Private Equity Fund | Other | 2.23% | 11,881,900 | 11,881,900 | | Jiangsu Zhengdan Chemical Industry Co, Ltd - Phase I Employee Stock Ownership Plan | Other | 0.47% | 2,509,260 | 2,509,260 | | China Merchants Bank Co, Ltd - Southern CSI 1000 ETF | Other | 0.46% | 2,465,004 | 2,465,004 | | Hong Kong Securities Clearing Company Ltd | Foreign Legal Entity | 0.39% | 2,090,659 | 2,090,659 | | Zou Changling | Domestic Individual | 0.28% | 1,495,700 | 1,495,700 | | China Merchants Bank Co, Ltd - Huaxia CSI 1000 ETF | Other | 0.27% | 1,450,400 | 1,450,400 | | Yao Yuanxi | Domestic Individual | 0.24% | 1,301,200 | 1,301,200 | - He Xing Enterprise Limited, Huaxing Investment (Zhenjiang) Co, Ltd, and Zhejiang Yinwan Private Equity Fund Management Co, Ltd - Yinwan Banyan No. 6 Private Equity Fund are parties acting in concert, controlled by the actual controllers Cao Zhengguo and Shen Xingxiu[120](index=120&type=chunk) - The company's dedicated securities account for share buybacks holds **7,137,512 shares**, representing **1.34%** of the total share capital at the end of the reporting period[120](index=120&type=chunk) [IV. Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=34&type=section&id=IV.%20Changes%20in%20Shareholdings%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) There were no changes in the shareholdings of directors, supervisors, or senior management during the reporting period - There were no changes in the shareholdings of the company's directors, supervisors, and senior management during the reporting period[122](index=122&type=chunk) [V. Changes in Controlling Shareholder or Actual Controller](index=34&type=section&id=V.%20Changes%20in%20Controlling%20Shareholder%20or%20Actual%20Controller) There were no changes in the company's controlling shareholder or actual controller during the reporting period - There was no change in the company's controlling shareholder during the reporting period[123](index=123&type=chunk) - There was no change in the company's actual controller during the reporting period[124](index=124&type=chunk) [VI. Information on Preferred Shares](index=36&type=section&id=VI.%20Information%20on%20Preferred%20Shares) The company had no preferred shares during the reporting period - The company had no preferred shares during the reporting period[125](index=125&type=chunk) [Section 7 Bond-related Matters](index=37&type=section&id=Section%207%20Bond-related%20Matters) [Bond-related Matters](index=37&type=section&id=Bond-related%20Matters) The company had no bond-related matters to report for the period - The company had no bond-related matters during the reporting period[127](index=127&type=chunk) [Section 8 Financial Report](index=38&type=section&id=Section%208%20Financial%20Report) [I. Audit Report](index=38&type=section&id=I.%20Audit%20Report) The semi-annual financial report has not been audited - The company's semi-annual financial report has not been audited[129](index=129&type=chunk) [II. Financial Statements](index=38&type=section&id=II.%20Financial%20Statements) This section presents the company's consolidated and parent company financial statements for the first half of 2025 Consolidated Balance Sheet (Summary) | Item | Closing Balance (RMB) | Opening Balance (RMB) | | :--- | :--- | :--- | | Total Assets | 3,388,746,163.90 | 3,076,435,919.47 | | Total Liabilities | 115,060,054.81 | 276,409,892.65 | | Equity Attributable to Parent Company | 3,273,491,486.68 | 2,799,876,256.30 | Consolidated Income Statement (Summary) | Item | H1 2025 (RMB) | H1 2024 (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 1,428,744,599.17 | 1,382,165,930.21 | | Operating Profit | 738,946,224.96 | 336,689,092.10 | | Total Profit | 738,726,009.67 | 336,043,825.87 | | Net Profit | 629,929,921.39 | 285,917,101.46 | | Net Profit Attributable to Parent Company | 630,005,990.33 | 285,917,101.46 | Consolidated Cash Flow Statement (Summary) | Item | H1 2025 (RMB) | H1 2024 (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 869,172,636.10 | 65,764,563.16 | | Net Cash Flow from Investing Activities | -772,234,135.61 | -257,540,256.59 | | Net Cash Flow from Financing Activities | -283,173,505.80 | -22,929,768.98 | | Net Increase in Cash and Cash Equivalents | -157,846,210.54 | -206,059,200.13 | [1. Consolidated Balance Sheet](index=38&type=section&id=1.%20Consolidated%20Balance%20Sheet) Total assets reached RMB 3.39 billion, with a significant increase in trading financial assets and a decrease in short-term borrowings Consolidated Balance Sheet (Period-End vs. Beginning of Period) | Item | Closing Balance (RMB) | Opening Balance (RMB) | | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,194,540,929.30 | 1,352,387,139.84 | | Trading Financial Assets | 743,685,641.85 | | | Accounts Receivable | 231,813,011.76 | 390,962,106.41 | | Inventories | 185,379,014.29 | 223,457,743.44 | | Fixed Assets | 460,736,367.30 | 490,572,203.71 | | Construction in Progress | 263,606,276.50 | 237,821,760.75 | | Short-term Borrowings | 4,205,070.96 | 130,211,261.11 | | Total Liabilities | 115,060,054.81 | 276,409,892.65 | | Equity Attributable to Parent Company | 3,273,491,486.68 | 2,799,876,256.30 | | Total Assets | 3,388,746,163.90 | 3,076,435,919.47 | [2. Parent Company Balance Sheet](index=40&type=section&id=2.%20Parent%20Company%20Balance%20Sheet) The parent company's total assets grew to RMB 3.38 billion, while total liabilities decreased significantly by 60.99% Parent Company Balance Sheet (Period-End vs. Beginning of Period) | Item | Closing Balance (RMB) | Opening Balance (RMB) | | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,168,013,093.73 | 1,341,633,251.56 | | Trading Financial Assets | 743,685,641.85 | | | Accounts Receivable | 238,308,243.60 | 405,502,877.82 | | Inventories | 184,705,055.65 | 222,453,976.64 | | Fixed Assets | 460,736,367.30 | 490,572,203.71 | | Construction in Progress | 263,606,276.50 | 237,821,760.75 | | Short-term Borrowings | 4,205,070.96 | 15,211,261.11 | | Notes Payable | | 115,000,000.00 | | Total Liabilities | 114,550,903.66 | 293,834,730.03 | | Total Equity | 3,268,178,860.43 | 2,794,027,612.49 | | Total Assets | 3,382,729,764.09 | 3,087,862,342.52 | [3. Consolidated Income Statement](index=43&type=section&id=3.%20Consolidated%20Income%20Statement) Consolidated net profit surged by 120.35% to RMB 630 million, driven by a significant reduction in operating costs Consolidated Income Statement (Current Period vs. Prior Period) | Item | H1 2025 (RMB) | H1 2024 (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 1,428,744,599.17 | 1,382,165,930.21 | | Total Operating Costs | 696,649,602.17 | 1,058,119,740.19 | | Operating Profit | 738,946,224.96 | 336,689,092.10 | | Total Profit | 738,726,009.67 | 336,043,825.87 | | Net Profit | 629,929,921.39 | 285,917,101.46 | | Net Profit Attributable to Parent Company | 630,005,990.33 | 285,917,101.46 | | Basic Earnings Per Share | 1.20 | 0.58 | | Diluted Earnings Per Share | 1.18 | 0.58 | [4. Parent Company Income Statement](index=45&type=section&id=4.%20Parent%20Company%20Income%20Statement) The parent company's net profit increased by 121.90% to RMB 631 million for the first half of 2025 Parent Company Income Statement (Current Period vs. Prior Period) | Item | H1 2025 (RMB) | H1 2024 (RMB) | | :--- | :--- | :--- | | Operating Revenue | 1,425,952,261.50 | 1,386,443,504.29 | | Operating Costs | 690,230,994.84 | 1,045,443,011.32 | | Operating Profit | 740,070,314.76 | 334,471,090.09 | | Total Profit | 739,850,099.47 | 333,825,823.86 | | Net Profit | 630,824,156.45 | 284,289,080.41 | [5. Consolidated Cash Flow Statement](index=46&type=section&id=5.%20Consolidated%20Cash%20Flow%20Statement) Net cash flow from operating activities grew significantly by 1221.64%, while investing activities saw a net outflow due to investments Consolidated Cash Flow Statement (Current Period vs. Prior Period) | Item | H1 2025 (RMB) | H1 2024 (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 869,172,636.10 | 65,764,563.16 | | Net Cash Flow from Investing Activities | -772,234,135.61 | -257,540,256.59 | | Net Cash Flow from Financing Activities | -283,173,505.80 | -22,929,768.98 | | Net Increase in Cash and Cash Equivalents | -157,846,210.54 | -206,059,200.13 | [6. Parent Company Cash Flow Statement](index=47&type=section&id=6.%20Parent%20Company%20Cash%20Flow%20Statement) The parent company's operating cash flow increased by 840.26%, with significant outflows for investment and financing activities Parent Company Cash Flow Statement (Current Period vs. Prior Period) | Item | H1 2025 (RMB) | H1 2024 (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 744,401,604.47 | 79,068,894.68 | | Net Cash Flow from Investing Activities | -778,078,603.61 | -257,540,256.59 | | Net Cash Flow from Financing Activities | -168,173,505.80 | -43,554,373.61 | | Net Increase in Cash and Cash Equivalents | -173,620,157.83 | -213,396,527.31 | [7. Consolidated Statement of Changes in Equity](index=48&type=section&id=7.%20Consolidated%20Statement%20of%20Changes%20in%20Equity) Total consolidated equity increased by RMB 474 million, primarily driven by comprehensive income of RMB 630 million Consolidated Statement of Changes in Equity (Changes during the Current Period) | Item | Capital Reserve (RMB) | Other Comprehensive Income (RMB) | Special Reserve (RMB) | Retained Earnings (RMB) | Subtotal Attributable to Parent (RMB) | Minority Interest (RMB) | Total Equity (RMB) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Net Change | 525,017.31 | 282,148.56 | 465,517.18 | 472,342,547.33 | 473,615,230.38 | 44,851.89 | 473,660,082.27 | | of which: Comprehensive Income | | 282,148.56 | | 630,005,990.33 | 630,288,138.89 | 44,851.89 | 630,332,990.78 | | Capital Contributions | 525,017.31 | | | | 525,017.31 | | 525,017.31 | | Profit Distribution | | | | -157,663,443.00 | -157,663,443.00 | | -157,663,443.00 | | Special Reserve | | | 465,517.18 | | 465,517.18 | | 465,517.18 | [8. Parent Company Statement of Changes in Equity](index=53&type=section&id=8.%20Parent%20Company%20Statement%20of%20Changes%20in%20Equity) The parent company's total equity increased by RMB 474 million, mainly due to comprehensive income of RMB 631 million Parent Company Statement of Changes in Equity (Changes during the Current Period) | Item | Capital Reserve (RMB) | Special Reserve (RMB) | Retained Earnings (RMB) | Total Equity (RMB) | | :--- | :--- | :--- | :--- | :--- | | Net Change | 525,017.31 | 465,517.18 | 473,160,713.45 | 474,151,247.94 | | of which: Comprehensive Income | | | 630,824,156.45 | 630,824,156.45 | | Capital Contributions | 525,017.31 | | | 525,017.31 | | Profit Distribution | | | -157,663,443.00 | -157,663,443.00 | | Special Reserve | | 465,517.18 | | 465,517.18 | [III. Basic Company Information](index=56&type=section&id=III.%20Basic%20Company%20Information) Jiangsu Zhengdan Chemical Industry Co, Ltd was established in 2007, listed in 2017, and is controlled by Cao Zhengguo and Shen Xingxiu - The company was founded in January 2007 and listed on the Shenzhen Stock Exchange in April 2017[160](index=160&type=chunk) - As of June 30, 2025, the company's total issued share capital is **532.68 million shares**[161](index=161&type=chunk) - The company's main business includes the production of hazardous chemicals, import and export of goods, and technology R&D[161](index=161&type=chunk)[162](index=162&type=chunk) - The controlling shareholder is He Xing Enterprise Limited, and the actual controllers are Cao Zhengguo and Shen Xingxiu[162](index=162&type=chunk) [IV. Basis of Preparation for Financial Statements](index=57&type=section&id=IV.%20Basis%20of%20Preparation%20for%20Financial%20Statements) The financial statements are prepared in accordance with China's Accounting Standards for Business Enterprises on a going concern basis - These financial statements are prepared in accordance with the Accounting Standards for Business Enterprises issued by the Ministry of Finance and relevant regulations of the China Securities Regulatory Commission[164](index=164&type=chunk) - These financial statements are prepared on a going concern basis[165](index=165&type=chunk) [V. Significant Accounting Policies and Estimates](index=57&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Estimates) This section details the company's accounting policies for key areas such as financial instruments, revenue recognition, and leases - The company adheres to the Accounting Standards for Business Enterprises, providing a true and complete reflection of its financial position, operating results, and cash flows[167](index=167&type=chunk) - Financial assets are classified as measured at amortized cost, at fair value through other comprehensive income, or at fair value through profit or loss[190](index=190&type=chunk)[191](index=191&type=chunk) - The company applies an expected credit loss model for impairment of financial assets measured at amortized cost, debt instruments at fair value through other comprehensive income, and financial guarantee contracts[210](index=210&type=chunk) - Revenue is recognized when the customer obtains control of the goods or services, either over time or at a point in time, depending on the nature of the performance obligation[274](index=274&type=chunk)[275](index=275&type=chunk)[276](index=276&type=chunk) - The company accrues safety production costs according to prescribed standards, charging them to relevant product costs or current profit and loss while crediting the "Special Reserve" account[314](index=314&type=chunk)[315](index=315&type=chunk) - There were no significant changes in accounting policies or estimates during the reporting period[316](index=316&type=chunk)[317](index=317&type=chunk) [VI. Taxation](index=82&type=section&id=VI.%20Taxation) The company benefits from a reduced 15% corporate income tax rate as a high-tech enterprise Main Taxes and Rates | Tax Type | Rate | | :--- | :--- | | Value-Added Tax (VAT) | 13% | | Urban Maintenance and Construction Tax | 7% | | Corporate Income Tax | 15%, 16.5%, 25%, 17%, 24% | - Jiangsu Zhengdan Chemical Industry Co, Ltd enjoys a preferential corporate income tax rate of **15%** as a high-tech enterprise[318](index=318&type=chunk) - Hong Kong Zhengdan International Trading Co, Ltd is subject to a preferential profits tax rate in Hong Kong, with assessable profits exceeding HK$2 million taxed at 16.5%[318](index=318&type=chunk) - Suzhou Zhengdan New Material Research Institute Co, Ltd, as a small and micro enterprise, enjoys a preferential income tax policy, with its taxable income calculated at a reduced rate of 25% and taxed at 20%[319](index=319&type=chunk) [VII. Notes to Consolidated Financial Statement Items](index=82&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed notes on key items in the consolidated financial statements, including assets, liabilities, and income Key Items in Consolidated Financial Statements at Period-End | Item | Closing Balance (RMB) | | :--- | :--- | | Cash and Cash Equivalents | 1,194,540,929.30 | | Trading Financial Assets | 743,685,641.85 | | Accounts Receivable | 231,813,011.76 | | Short-term Borrowings | 4,205,070.96 | | Operating Revenue | 1,428,744,599.17 | | Operating Costs | 692,424,996.43 | | Net Profit | 629,929,921.39 | | Net Cash Flow from Operating Activities | 869,172,636.10 | - At the end of the period, the total amount of cash and cash equivalents held overseas was **RMB 6,503,893.86**[321](index=321&type=chunk) - The closing balance of accounts receivable was **RMB 232 million**, a decrease from RMB 391 million at the beginning of the year, mainly due to the collection of payments[333](index=333&type=chunk) - Short-term borrowings at period-end were **RMB 4.21 million**, a significant decrease from RMB 130 million at the beginning of the year, primarily due to the repayment of matured loans[388](index=388&type=chunk) - Foreign currency monetary items are mainly in USD and EUR, with period-end balances equivalent to **RMB 48,563,129.92** and **RMB 987,463,955.22**, respectively[454](index=454&type=chunk) [VIII. R&D Expenditures](index=109&type=section&id=VIII.%20R&D%20Expenditures) Total R&D expenditure for the period was RMB 11.16 million, all of which was expensed, marking a 24.09% increase R&D Expenditure Composition | Item | Current Period (RMB) | Prior Period (RMB) | | :--- | :--- | :--- | | Direct Materials | 1,402,614.98 | 1,890,042.68 | | Employee Compensation | 3,435,222.02 | 3,270,767.40 | | Energy Costs | 3,689,589.93 | 648,382.59 | | Other Expenses | 2,628,245.12 | 3,180,960.98 | | **Total** | **11,155,672.05** | **8,990,153.65** | | of which: Expensed R&D | 11,155,672.05 | 8,990

江苏正丹化学工业股份有限公司 独立董事工作制度 第一章 总 则 第一条 为进一步完善江苏正丹化学工业股份有限公司（以下简称"公司"） 法人治理结构，切实保护中小股东及利益相关者的利益，促进公司的规范运作， 根据《上市公司独立董事管理办法》、《上市公司治理准则》、《深圳证券交易 所创业板股票上市规则》、《深圳证券交易所上市公司自律监管指引第2号—— 创业板上市公司规范运作》，以及《江苏正丹化学工业股份有限公司章程》(以 下简称"《公司章程》")等有关规定，结合公司实际情况，制定本制度。 第二条 公司独立董事是指不在公司担任除独立董事外的任何其他职务，并 与公司及其主要股东、实际控制人不存在直接或者间接利害关系，或者其他可能 影响其进行独立客观判断的关系的董事。 第二章 独立董事的任职条件和独立性 第三条 担任公司独立董事应当符合下列条件： （一）根据法律、行政法规和其他有关规定，具备担任上市公司董事的资格； （二）具有本制度第四条所要求的独立性； （三）具备公司运作相关的基本知识，熟悉相关法律法规及深圳证券交易所 业务规则； （四）具有五年以上履行独立董事职责所必需的法律、会计或者经济等工作 经验； （五）具有 ...

江苏正丹化学工业股份有限公司 董事会战略与可持续发展委员会工作细则 第一章 总 则 第一条 为适应江苏正丹化学工业股份有限公司（以下简称"公司"）战略 与可持续发展需要，增强公司核心竞争力，确定公司发展规划，健全投资决策 程序，加强决策的科学性，提高重大投资决策的效益和决策的质量，完善公司 治理结构，落实并提升公司环境、社会、治理（以下简称"ESG"）工作，增强 公司核心竞争力和可持续发展能力，根据《中华人民共和国公司法》、《上市 公司治理准则》等相关法律、法规、规范性文件和《江苏正丹化学工业股份有 限公司章程》（以下称"《公司章程》"）的规定，公司特设立董事会战略与 可持续发展委员会，并制定本工作细则。 第六条 战略与可持续发展委员会任期与董事会任期一致，委员任期届满， 可连选连任。期间如有委员不再担任公司董事职务，自动失去委员资格，并由委 员会根据上述第三至第五条规定补足委员人数。 第七条 战略与可持续发展委员会日常联络工作和会议组织等工作均由公司 证券事务部负责。 第二条 董事会战略与可持续发展委员会是董事会设立的专门工作机构，主 要负责对公司长期发展战略和重大投资决策，及ESG相关的战略、政策和工作机 ...

对外投资管理办法 第一章 总 则 第一条 为了维护投资者的利益，规范江苏正丹化学工业股份有限公司(以 下称 "公司")的对外投资及资产处置行为，有效控制公司对外投资风险，确 保公司的资产安全，促进公司健康稳定地发展，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》"）等有关法律法规和规范性文件以及《江苏正丹化学工业股份有限公司 章程》（以下简称"《公司章程》"）的有关规定，制定本办法。 第二条 本办法所称的对外投资事项是指以获取投资收益为目的，将公司现 金、实物、无形资产或者其他财产权利通过权益性投资、债权性投资的方式向 境内外的其他单位进行的投资，包括但不限于： （一）单独或者与他人共同出资设立公司等经济实体； 本办法适用于公司及公司所属控股公司（以下简称"控股公司"）所有对 外投资业务。 江苏正丹化学工业股份有限公司 据； （二）对外投资标的（如股权）在最近一个会计年度相关的营业收入占公 司最近一个会计年度经审计营业收入的 50%以上，且绝对金额超过 5,000 万元 人民币； 第三条 公司所有对外投资行为必须符合国家有关法规及产业政策，符合公 司 ...