关于上海保立佳化工股份有限公司 申请向不特定对象发行可转换公司债券的 审核问询函的回复 （修订稿） 保荐人（主承销商） （中国（上海）自由贸易试验区商城路 618 号） 1-1 上海保立佳化工股份有限公司 审核问询函的回复 深圳证券交易所： 贵所于 2023 年 7 月 7 日出具的《关于上海保立佳化工股份有限公司申请向 不特定对象发行可转换公司债券的审核问询函》（审核函〔2023〕020113 号） （以下简称"审核问询函"）已收悉。根据贵所的要求，上海保立佳化工股份有 限公司与国泰君安证券股份有限公司、上海礼辉律师事务所、中兴华会计师事 务所（特殊普通合伙）对审核问询函所列问题认真进行了逐项落实并书面回复 如下，请予审核。 本回复中如无特别说明，相关用语具有与《上海保立佳化工股份有限公司 向不特定对象发行可转换公司债券募集说明书》中相同的含义。 本回复中的字体代表以下含义： | 审核问询函所列问题 | 黑体（加粗） | | --- | --- | | 对审核问询函所列问题的回复 | 宋体 | | 对募集说明书（申报稿）的修改、补充 | 楷体（加粗） | 1-2 | 问题 | 1 | 4 | | --- | ...

证券代码：301037 证券简称：保立佳 公告编号：2023-084 上海保立佳化工股份有限公司 公司在收到审核问询函后，会同相关中介机构逐项落实审核问询问题，并对 公司向不特定对象发行可转换公司债券募集说明书等申请文件进行了更新。根据 相关规则要求对审核问询函回复及相关申请文件予以披露，具体内容详见公司于 2023 年 8 月 8 日在巨潮资讯网（www.cninfo.com.cn）披露的相关文件。 根据深交所的进一步审核意见，公司会同相关中介机构对回复内容进行修订 并更新相关申请文件，具体内容详见同日在巨潮资讯网（www.cninfo.com.cn）披 露的《关于上海保立佳化工股份有限公司申请向不特定对象发行可转换公司债券 的审核问询函的回复（修订稿）》及更新的相关申请文件。 公司本次向不特定对象发行可转换公司债券事项尚需通过深交所审核，并获 得中国证券监督管理委员会（以下简称"证监会"）作出同意注册的决定后方可 实施。本次向不特定对象发行可转换公司债券事项最终能否通过深交所审核，并 获得证监会同意注册的决定及时间尚存在不确定性。公司将根据该事项的进展情 况及时履行信息披露义务，敬请广大投资者谨慎决策，注 ...

上海礼辉律师事务所 关于上海保立佳化工股份有限公司 向不特定对象发行可转换公司债券的 补充法律意见书 二〇二三年八月 地址：上海市黄浦区淮海中路 918 号久事复兴大厦 10 楼 A 座 邮编：200020 电话：021-64338299 上海礼辉律师事务所 关于上海保立佳化工股份有限公司 向不特定对象发行可转换公司债券的 补充法律意见书 致：上海保立佳化工股份有限公司 上海礼辉律师事务所（下称"本所"）接受上海保立佳化工股份有限公司 （下称"发行人"或"公司"）委托，担任发行人向不特定对象发行可转换公司 债券（下称"本次发行"）的专项法律顾问，为发行人本次发行出具法律意见书。 本所及本所律师依据《中华人民共和国证券法》《中华人民共和国公司法》 《上市公司证券发行注册管理办法》《公开发行证券公司信息披露的编报规则第 12 号—公开发行证券的法律意见书和律师工作报告》《律师事务所从事证券法律 业务管理办法》《律师事务所证券法律业务执业规则（试行）》等法律、法规和中 国证监会、深交所的有关规定，就发行人本次发行事宜已于 2023 年 6 月 19 日出 具了《上海礼辉律师事务所关于上海保立佳化工股份有限公司向不特 ...

上海保立佳化工股份有限公司 关于参加2023年上海辖区上市公司集体接待日 暨中报业绩说明会活动的公告 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP，参与 本次互动交流，活动时间为 2023 年 9 月 7 日（周四）14:00-16:30，网上文字互 动交流时间为：15:00-16:30。届时公司将就 2023 年中报业绩、公司治理、发展 战略、经营状况、融资计划、股权激励和可持续发展等投资者关心的问题，与投 资者进行沟通与交流。投资者也可识别二维码，进入业绩说明会问题征集专题页 面提前留言提问。 证券代码：301037 证券简称：保立佳 公告编号：2023-083 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。 为进一步加强与投资者的互动交流，上海保立佳化工股份有限公司（以下简 称"公司"）将参加由上海证监局、上海上市公司协会与深圳市全景网络有限公 司联合举办的"2023 年上海辖区上市公司集体接待日暨中报业绩说明会"活动， 现将相关事项公告如下： ...

证券代码：301037 证券简称：保立佳 公告编号：2023-082 上海保立佳化工股份有限公司 关于部分限制性股票回购注销完成的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 1、上海保立佳化工股份有限公司（以下简称"公司"）本次回购注销限制 性股票数量共计 312,544 股，占本次回购注销前公司总股本的 0.31%，涉及激励 对象共 45 人，其中首次授予激励对象 43 人，预留授予激励对象 2 人。 2、公司已于 2023 年 8 月 10 日在中国证券登记结算有限责任公司深圳分公 司办理完成部分限制性股票回购注销手续。 3、本次回购注销完成后，公司总股本由 100,420,363 股减少至 100,107,819 股，注册资本由 100,420,363 元人民币减少至 100,107,819 元人民币。 一、已履行的相关审批程序 1、2021 年 12 月 30 日，公司召开第三届董事会第四次会议，审议通过了《关 于<公司 2021 年限制性股票激励计划（草案）>及其摘要的议案》《关于<公司 2021 年限制性股票激励计划实施考核管 ...

Financial Performance - The company's operating revenue for the current reporting period is ¥1,193,452,235.57, a decrease of 27.26% compared to the same period last year [26]. - The net profit attributable to shareholders for the current period is ¥1,830,054.90, reflecting a significant decline of 92.12% year-over-year [26]. - The company's revenue for the first half of 2023 was approximately ¥1.19 billion, a decrease of 27.26% compared to ¥1.64 billion in the same period last year, primarily due to a decline in product sales and prices [52]. - The company's operating costs decreased by 29.43% to approximately ¥1.03 billion from ¥1.46 billion, attributed to lower sales volume and raw material prices [52]. - The company reported a net loss of CNY 4,101,596.53 for the first half of 2023, contrasting with a net profit of CNY 420,263.17 in the same period of 2022 [194]. - The company's total profit for the first half of 2023 was CNY 3,902,344.11, a sharp decline from CNY 30,678,405.24 in the same period of 2022 [189]. - Basic and diluted earnings per share for the first half of 2023 were both CNY 0.02, down from CNY 0.26 in the first half of 2022 [190]. Cash Flow and Investments - The net cash flow from operating activities has improved to ¥116,047,281.48, a turnaround of 202.11% compared to the previous year [26]. - Cash outflow from investing activities was CNY 128,862,334.80, down from CNY 150,684,097.92 year-over-year [197]. - Net cash flow from investing activities was negative CNY 127,862,834.80, an improvement from negative CNY 143,874,305.69 in the previous year [197]. - Cash inflow from financing activities decreased to CNY 598,743,367.59 from CNY 699,776,616.00 in the first half of 2022 [197]. - The company reported a significant reduction in cash received from sales, totaling CNY 772,451,624.11, down 11.1% from CNY 868,666,376.20 in the first half of 2022 [196]. Research and Development - The report highlights the company's focus on research and development in new products and technologies [19]. - Research and development expenses increased by 16.88% to approximately ¥28 million, reflecting the company's commitment to innovation [52]. - The company emphasizes R&D, focusing on both new product development and upgrading existing processes, with a strong emphasis on market demand [43]. - The company has developed several core technologies, including shell structure latex particle technology and UV curing technology, enhancing its competitive edge [44]. Market Position and Strategy - The company is a major player in the water-based acrylic emulsion market, with a focus on R&D and production since its establishment in 2001 [34]. - The company has established long-term cooperative relationships with major clients such as Nippon Paint and AkzoNobel, enhancing its market position [34]. - The company reported a strong market position in the domestic acrylic emulsion industry, ranking among the top players with significant market share [43]. - The company is actively developing new products for various applications, including transparent heat-insulating waterproofing and asphalt corrosion prevention [37]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share by 2025 [105]. Environmental Compliance and Sustainability - The company is committed to environmental and social responsibilities as part of its operational strategy [19]. - The company is classified as a key pollutant discharge unit by environmental protection authorities [102]. - The company has implemented various environmental protection laws and regulations since 2012, including the Clean Production Promotion Law and the Environmental Protection Law [102]. - The company reported that all emissions from its facilities were within regulatory limits, with VOCs emissions at 0.74 mg/m³ against a limit of 2.0 mg/m³ [106]. - The company achieved compliance with emission standards for nitrogen oxides at a discharge rate of 25 mg/m³, significantly below the limit of 100 mg/m³, with a total emission of 0.52 tons compared to 14.4 tons allowed [108]. Corporate Governance and Management - The management team is led by Yang Wenyu, who serves as the legal representative [20]. - The company has a governance structure with a total of 12 directors, supervisors, and senior management personnel, with terms ending on September 22, 2024 [96]. - The company has implemented a safety production responsibility system, with the factory manager being the main responsible person for safety production [122]. - The company has established a comprehensive safety production supervision mechanism and strengthened safety management capabilities across departments [121]. Financial Management and Debt - The company has a total of CNY 15,000 million in guarantees, with specific guarantees expiring in 2025 and 2026 [149]. - The total approved guarantee amount for subsidiaries is CNY 26,500 million, with an actual guarantee balance of CNY 15,592.71 million as of the report date [152]. - The company has a financing lease contract with a total cost of CNY 1,000 million, which has been fully incurred during the reporting period [146]. - The company reported that the profit from the financing lease contract accounts for over 10% of the total profit for the reporting period [146]. Shareholder Information - The total number of shareholders at the end of the reporting period was 6,777 [168]. - The largest shareholder, Yang Wenyu, holds 51.52% of the shares, totaling 51,731,900 shares [168]. - The company’s shareholder structure remains stable, with no foreign investment holdings reported [159]. - The company has not engaged in any significant related party transactions during the reporting period [135].

上海保立佳化工股份有限公司 2023 年第一季度报告（更正后） 证券代码：301037 证券简称：保立佳 公告编号：2023-070 上海保立佳化工股份有限公司 2023 年第一季度报告（更正后） 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。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报 告中财务信息的真实、准确、完整。 3.第一季度报告是否经过审计 □是 否 1 上海保立佳化工股份有限公司 2023 年第一季度报告（更正后） 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 557,861,952.13 | 749,508,623.14 | -25.57% | | 归属于 ...

Group 1: Company Overview and Strategy - The company aims to become "the world's Baolijia" and has acquired 60% of Malaysian company MORTRADE SDN.BHD. for RMB 5.45 million, which aligns with its main business of water-based acrylic emulsions [2] - The company is actively expanding its foreign market presence through asset acquisitions and establishing factories [2] - The main business focuses on water-based acrylic emulsions, which are used in various industries including construction coatings and textiles [3] Group 2: Financial Performance and Challenges - In Q1 2023, the company reported a significant decline in revenue, with sales expenses increasing by over RMB 15 million [3][4] - The company faced a loss in Q1 2023, attributed to a decrease in product sales and prices, alongside increased employee compensation and share-based payment expenses [6] - The company's sales expenses for Q1 2023 were RMB 37.36 million, with management expenses rising by 23.78% to RMB 23.15 million [4] Group 3: Market Position and Competitive Advantages - The company ranks among the top in production capacity within the industry, with four major production bases established in Shanghai, Guangdong, Shandong, and Sichuan [3] - The company emphasizes R&D investment, possessing several core technologies, and has set up independent research institutes in Shanghai and Beijing [3] - The marketing strategy includes a dual approach of direct sales to strategic customers and agency sales to smaller clients, creating a comprehensive marketing network [3] Group 4: Future Outlook and Investor Relations - The company plans to enhance investor relations through regular performance briefings and various communication channels [4] - The company maintains confidence in future growth despite current challenges in the acrylic emulsion industry [5] - The company aims to optimize its production capacity and improve profitability in response to market demands [5]

Financial Performance - In 2022, the company's net profit significantly decreased compared to 2021 due to fluctuations in raw material prices, despite an increase in operating revenue and product sales[4]. - The company's operating revenue for 2022 was ¥3,162,880,650.02, an increase of 6.32% compared to ¥2,974,838,701.52 in 2021[28]. - The net profit attributable to shareholders decreased by 88.63% to ¥5,737,154.48 from ¥50,451,374.64 in the previous year[28]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥7,633,095.57, down 82.12% from ¥42,701,730.12 in 2021[28]. - Basic and diluted earnings per share fell by 91.26% to ¥0.0573 from ¥0.6555 in 2021[28]. - The gross margin declined as the increase in unit costs outpaced the rise in product prices during the first half of 2022[4]. - The company reported a quarterly revenue of ¥614,216,268.51 in Q4 2022, down from ¥907,865,506.80 in Q3 2022[30]. - The net profit attributable to shareholders in Q3 2022 was -¥22,635,586.21, indicating a significant loss compared to profits in the first two quarters[30]. - The company received government subsidies amounting to ¥4,459,692.87 in 2022, down from ¥9,873,528.17 in 2021[34]. Operational Strategy - The company plans to control inventory effectively and increase the proportion of current production and sales[6]. - The company aims to enhance internal management efficiency and optimize existing product technology to reduce costs and increase efficiency[6]. - The company will increase R&D efforts to promote high value-added products, aiming to improve overall gross margin[6]. - The company is focusing on developing special coatings, including elastic and high-gloss coatings, leveraging the synergy between acrylic emulsions and thickeners[41]. - The company plans to enhance its service capabilities for premium clients by offering personalized solutions, responding to the increasing market concentration[55]. - The company aims to expand its business in textile and packaging emulsions while maintaining stability in its main products related to construction and waterproofing[55]. - The company is actively expanding its market presence and enhancing its product structure to improve operational efficiency and sustainability[72]. Market and Industry Insights - The main business of the company is the research, production, and sales of water-based acrylic emulsions, classified under the chemical raw materials and chemical products manufacturing industry[39]. - The company anticipates continued growth in demand for water-based acrylic emulsions in various sectors, including construction and industrial coatings, due to increasing environmental awareness[41]. - The procurement cost of raw materials, including butyl acrylate and styrene, accounts for about 60%-65% of the overall cost of acrylic emulsions, significantly impacting the company's gross margin and profitability[43]. - The prices of key raw materials such as butyl acrylate and styrene experienced significant fluctuations in 2022 due to geopolitical conflicts and monetary policy changes, affecting the overall profitability of the industry[45]. - The company is expanding its applications of acrylic emulsions into emerging fields such as printing, logistics, detergents, cosmetics, and pharmaceuticals, driven by its non-toxic and environmentally friendly characteristics[41]. - The company achieved a production capacity of 507,100 tons in 2022, positioning it as a leading player in the water-based acrylic emulsion industry[53]. Research and Development - The company has established independent research institutes in Shanghai and Beijing to strengthen its R&D capabilities and improve product offerings[52]. - The company has developed multiple patented technologies, including a low formaldehyde, no formaldehyde textile emulsion[58]. - The company is in the mass production stage for its functional emulsions and textile emulsions[58]. - The company is committed to quality control and market share expansion in the textile industry[58]. - The company is focusing on developing high-performance products such as waterproof emulsions and low surface energy adhesives to enhance market competitiveness[94]. - The company has allocated a budget of 100 million RMB for research and development of new technologies in 2023[171]. Risk Management - The company acknowledges various risks, including safety and environmental risks, raw material price volatility, and accounts receivable risks[6]. - The company focuses on risk management by conducting regular risk identification activities and optimizing production processes to enhance safety and efficiency[75]. - To mitigate raw material price fluctuation risks, the company plans to optimize procurement costs and stockpile materials when prices are favorable[139]. - The company is enhancing cash flow management to address liquidity risks, including measures to improve accounts receivable collection and reduce reliance on commercial acceptance bills[141]. Governance and Compliance - The company has a governance structure in place with independent directors and a supervisory board, ensuring compliance with regulations[166]. - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with governance standards[149]. - The company has established and strictly implements the "Information Disclosure Management Measures" to ensure the accuracy and timeliness of information disclosure[153]. - The company respects and maintains the legitimate rights and interests of stakeholders, achieving a balance among social, shareholder, company, and employee interests[154]. - The company has not reported any penalties from regulatory agencies for its directors and supervisors in the past three years[178]. Employee and Compensation - The total number of employees at the end of the reporting period was 640, with 66 in the parent company and 574 in major subsidiaries[194]. - The company implemented a performance-based compensation system to enhance employee productivity and align with corporate goals[195]. - The total remuneration for directors, supervisors, and senior management in 2022 amounted to 8.4409 million yuan[182]. - The average remuneration for senior management was approximately 0.73 million yuan[182]. - The company emphasizes attracting and retaining talent, particularly in technical roles, through competitive benefits[195]. Future Outlook - The company plans to continue expanding its production capacity in the chemical sector to meet growing market demand[112]. - The company aims to enhance profitability and optimize capacity layout, focusing on inventory management and increasing the proportion of current production and sales[133]. - The company has set a performance guidance for the upcoming fiscal year, aiming for a revenue growth of approximately 10%[166]. - The company anticipates a revenue growth target of 15% for the next fiscal year, driven by increased demand in the chemical sector[171].

上海保立佳化工股份有限公司 2023 年第一季度报告 证券代码：301037 证券简称：保立佳 公告编号：2023-024 上海保立佳化工股份有限公司 2023 年第一季度报告 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。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报 告中财务信息的真实、准确、完整。 3.第一季度报告是否经过审计 □是 否 1 上海保立佳化工股份有限公司 2023 年第一季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 557,861,952.13 | 749,508,623.14 | -25.57% | | 归属于上市公司股东的净利润（元） | ...