中原证券股份有限公司 关于九江善水科技股份有限公司 部分募投项目结项并将节余募集资金永久补充流动资金的核查意见 中原证券股份有限公司（以下简称"中原证券"或"保荐机构"）作为九江 善水科技股份有限公司（以下简称"善水科技"或"公司"）首次公开发行股票 并在创业板上市的保荐机构，根据《中华人民共和国公司法》《中华人民共和国 证券法》《证券发行上市保荐业务管理办法》《深圳证券交易所创业板股票上市 规则》等有关规定，对善水科技部分募投项目结项并将节余募集资金永久补充 流动资金事项进行了核查，情况如下： 一、募集资金及募投项目的基本情况 经中国证券监督管理委员会《关于同意九江善水科技股份有限公司首次公开发行股 票注册的批复》（证监许可〔2021〕3471 号）同意注册，九江善水科技股份有限公司首 次公开发行人民币普通股（A 股）股票 53,660,000 股，发行价格为每股27.85 元。善水 科技实际募集资金总额为 1,494,431,000.00 元，扣除发行费用110,458,694.23 元（不含 税）后，募集资金净额为 1,383,972,305.77 元。本次发行股票所募集的资金在扣除发行 费用后，根据投 ...

九江善水科技股份有限公司 Jiujiang Shanshui Technology Co.,Ltd 章 程 2025 年 6 月 第一章 总 则 第一条 为维护九江善水科技股份有限公司、股东、职工和债权人的合法权益，规范公 司的组织和行为，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》）、《上市公司章程指引》和其他有关规定，制定本章 程。 第二条 公司系依照《公司法》和其他有关规定成立的股份有限公司。 公司系由九江善水科技有限公司以整体变更的方式发起设立的股份有限公司；在九江市 市场监督管理局注册登记，取得营业执照，统一社会信用代码：91360430593788445M。 第三条 公司于 2021 年 11 月 1 日经中华人民共和国证券监督管理委员会（以下简称"中 国证监会"）"证监许可〔2021〕3471 号"文批准，首次向社会公众发行人民币普通股（A 股）股票 5,366.00 万股；并经深圳证券交易所"深证上〔2021〕1328 号"文批准，公司股 票于 2021 年 12 月 24 日在深圳证券交易所上市。 第四条 公司注册名称：九江善水科技股份有 ...

九江善水科技股份有限公司 股东会议事规则 第一章 总则 第一条 为规范九江善水科技股份有限公司（以下简称"公司"）行为，保证股东会 依法行使职权，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》）等的规定及《九江善水科技股份有限公司章程》（以下 简称"公司章程"），制订本议事规则（以下简称"本规则"）。 第二条 股东会的召集、提案、通知、召开等事项适用本规则。 第三条 公司应当严格按照法律、行政法规、本规则及公司章程的相关规定召开股东 会，保证股东能够依法行使权利。 2025 年 6 月 公司董事会应当切实履行职责，认真、按时组织股东会。公司全体董事应当勤勉尽责， 确保股东会正常召开和依法行使职权。 第四条 股东会应当在《公司法》和公司章程规定的范围内行使职权。 第五条 股东会分为年度股东会和临时股东会。年度股东会每年召开一次，应当于上 一会计年度结束后的六个月内举行。临时股东会不定期召开，出现《公司法》第一百一十三 条规定的应当召开临时股东会的情形时，临时股东会应当在两个月内召开。 公司在上述期限内不能召开股东会的，应当报告公司所在地中国证券监督管理委员会 ...

九江善水科技股份有限公司 董事会议事规则 2025 年 6 月 第六条 董事会每年至少召开两次定期会议，由董事长召集，于会议召开十日以前书面 通知全体董事。 第一章 总则 第一条 为了进一步规范九江善水科技股份有限公司（以下简称"本公司"或"公司"） 董事会的议事方式和决策程序，促使董事和董事会有效地履行其职责，提高董事会规范运作 和科学决策水平，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》）等有关规定及《九江善水科技股份有限公司公司章程》 （以下简称"《公司章程》"），制订本规则。 第二条 董事会的召集、提案、通知、召开等事项适用本规则。 第三条 董事会下设董事会办公室，处理董事会日常事务。董事会秘书兼任董事会办公 室负责人，保管董事会印章。 第四条 董事会会议分为定期会议和临时会议。 第五条 董事会下设审计委员会，并设立战略、提名、薪酬与考核专门委员会。专门委 员会对董事会负责，依照《公司章程》和董事会授权履行职责，提案应当提交董事会审议决 定。专门委员会成员全部由董事组成，其中审计委员会、提名委员会、薪酬与考核委员会中 独立董事占多数并担任召集人，审 ...

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints of the Report The report presents responses from Shanshui Technology to investors' questions, covering aspects such as project progress, market demand, and technological advantages [21]. 3. Summary by Related Catalogs 3.1. Basic Research Information - Research object: Shanshui Technology [17] - Industry: Chemical products [17] - Reception time: 2025-06-12 [17] - Reception personnel: Chairman and General Manager Huang Guorong [17] 3.2. Detailed Research Institutions - Guolian Minsheng Securities, with related personnel Zhang Weihang, Liu Hairong, and Liu Tianqi [18] - Hua'an Securities [18] 3.3. Main Content Data - **Project progress**: The company's supporting raw material project is currently in the process of handling various approval procedures [21]. - **Market demand**: The future demand for 6-nitro compound is expected to increase as the domestic nylon 66 production capacity grows steadily, leading to a continuous rise in the demand for acid dyes [22]. - **Technological advantages**: - The company's hydrogenation reaction technology is an aqueous hydrogenation process, which has significant cost advantages compared to traditional solvent-phase reactions and is environmentally friendly [23]. - The company's nitration reaction technology uses pipeline reaction, which significantly improves safety, reduces production risks, and enhances production efficiency and product quality [24]. - **Production capacity**: The current production capacity of 2,3-dichloropyridine is stable, and the company is expanding its production capacity from 8,000 tons/year to 18,000 tons/year [25].

Market Overview - As of June 12, the Shanghai Composite Index closed at 3402.66 points, with a slight increase of 0.34 points, representing a change of 0.01% [1] - The Shenzhen Component Index closed at 10234.33 points, down by 11.69 points, a decrease of 0.11% [1] - The ChiNext Index closed at 2067.15 points, up by 5.29 points, reflecting an increase of 0.26% [1] Trading Activity - A total of 128 A-shares had a turnover rate exceeding 20% on the same day, indicating significant trading activity [1] - Notably, C Haiyang and Zhongke Magnetic had turnover rates exceeding 50%, suggesting a high level of liquidity and interest in these stocks [1] Top Performing Stocks - C Haiyang (603382) had a closing price of 55.97 yuan with a turnover rate of 85.43% and a remarkable increase of 386.70% [1] - Zhongke Magnetic (301141) closed at 68.13 yuan, with a turnover rate of 67.96% and a gain of 3.20% [1] - Yingsite (301622) closed at 97.32 yuan, achieving a turnover rate of 60.53% and a rise of 20.00% [1] - Jiangnan New Materials (603124) closed at 48.20 yuan, with a turnover rate of 57.58% and an increase of 4.83% [1] - Xiongdi Technology (300546) closed at 34.41 yuan, with a turnover rate of 56.64% and a gain of 7.20% [1] Additional Notable Stocks - Kangliyuan (301287) closed at 50.52 yuan, with a turnover rate of 48.58% and a slight decrease of 0.26% [1] - Qingmu Technology (301110) closed at 72.42 yuan, achieving a turnover rate of 46.33% and a rise of 20.00% [1] - Baixinglong (833075) closed at 46.99 yuan, with a turnover rate of 44.54% and an increase of 29.99% [1] - Hengbao Co., Ltd. (002104) closed at 11.82 yuan, with a turnover rate of 44.51% and a gain of 2.34% [1] - Guokang Biochemical (300804) closed at 61.10 yuan, with a turnover rate of 42.76% and a slight increase of 1.08% [1]

Group 1: Company Projects and Developments - The company is currently processing various approval procedures for its supporting raw material project [1] - Future demand for 6-nitro compounds is expected to rise due to stable growth in domestic nylon 66 production and increasing demand for acidic dyes [1] - The production capacity of 2,3-dichloropyridine has been increased from 8,000 tons/year to 18,000 tons/year, with the expansion project progressing steadily [2] Group 2: Technological Advantages - The hydrogenation technology used by the company features a water-phase hydrogenation process, which shows significant cost advantages over traditional solvent-phase reactions in terms of equipment investment, energy consumption, human resources, raw material costs, and environmental treatment [1] - The pipeline reaction technology adopted for nitration processes significantly enhances safety, reduces production risks, and improves production efficiency and product quality [2] Group 3: Risk Awareness - The forward-looking statements regarding company goals, plans, and outlooks made during the communication do not constitute substantial commitments to investors, who should maintain adequate risk awareness [2]

本次变更不影响中原证券对善水科技的持续督导工作。本次保荐代表人变更 后，至善水科技首次公开发行股票募集资金使用完毕的保荐代表人为张科峰和翟 志豪。 公司董事会对李珂女士在担任公司保荐代表人期间所作的贡献表示衷心的 感谢！ 特此公告。 证券代码：301190 证券简称：善水科技 公告编号：2025-024 九江善水科技股份有限公司 关于变更持续督导保荐代表人的公告 本公司及董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、误导性陈述或重大遗漏。 九江善水科技股份有限公司（以下简称"公司"、"善水科技"）于近日收 到公司保荐机构中原证券股份有限公司（简称"中原证券"）出具的《关于变更 九江善水科技股份有限公司持续督导保荐代表人的函》。中原证券作为公司首次 公开发行股票的保荐机构，原委派李珂、张科峰担任贵公司首次公开发行股票持 续督导期间的保荐代表人。现因李珂工作调整不再担任善水科技持续督导保荐代 表人。为确保持续督导工作的有序进行，中原证券现委派翟志豪（简历附后）接 替李珂继续履行持续督导工作，担任善水科技首次公开发行股票持续督导期间的 保荐代表人。 附件：简历 翟志豪，保荐代表人、注册会计师，现 ...

Investment Rating - The report maintains an "Overweight" rating for the chemical industry, specifically highlighting the potential in the pesticide sector due to recent price increases and supply constraints [5]. Core Insights - The pesticide industry in China is undergoing structural optimization driven by stringent environmental regulations, leading to a gradual increase in the market share of high-efficiency, low-risk pesticides while phasing out older, more toxic products [1][2]. - The recent explosion at Youdao Chemical has impacted the supply of chlorantraniliprole, which is expected to drive up prices due to supply constraints [2][3]. - The price index for pesticide raw materials has reached a low point, with a slight increase noted, indicating a potential turning point for channel inventory [1]. Summary by Sections 1. Pesticide Industry Overview - China's pesticide product structure is being optimized, with a focus on reducing the use of high-risk products and increasing the market share of new, efficient pesticides [1]. - The pesticide raw material price index as of May 30, 2025, is 73.33 points, reflecting a 0.44 point increase since the beginning of the year [1]. 2. Supply Chain Impact - The explosion at Youdao Chemical on May 27, 2025, has disrupted the supply of chlorantraniliprole, which is the largest production facility globally with a capacity of 11,000 tons [2]. - The incident is expected to lead to stricter approvals and regulations for high-risk chemical reactions, benefiting leading chemical companies with better safety protocols and production technologies [2]. 3. Price Adjustments - ST Hongtai has raised the price of chlorantraniliprole to 300,000 yuan per ton due to increased costs from upstream raw material shortages [3]. - As of May 30, 2025, the market price for chlorantraniliprole was reported at 230,000 yuan per ton, marking a 2.22% increase from the previous day [3]. 4. Investment Recommendations - The report suggests focusing on undervalued, high-dividend, and well-performing companies in the oil and gas sector, as well as those benefiting from domestic substitution trends in materials [4]. - Specific companies to watch include China Petroleum, China Petrochemical, and Wanhu Chemical, among others [4].

Group 1 - The dye concept sector increased by 0.89%, ranking 10th among concept sectors, with 14 stocks rising, including Dinglong Technology and Haixiang Pharmaceutical hitting the daily limit [1] - The top gainers in the dye sector included Dinglong Technology (up 10.01%), Haixiang Pharmaceutical (up 9.97%), and United Chemical (up 15.22%) [3][4] - The sector experienced a net inflow of 0.17 billion yuan, with Dinglong Technology receiving the highest net inflow of 76.01 million yuan [2][3] Group 2 - The main capital inflow ratios were led by Dinglong Technology (32.57%), Zhaoxin Shares (7.06%), and Honghua Digital Technology (2.39%) [3] - The top stocks by net capital inflow in the dye sector included Dinglong Technology, Zhaoxin Shares, and Haixiang Pharmaceutical, with respective inflows of 76.01 million yuan, 16.72 million yuan, and 9.55 million yuan [2][3] - The overall performance of the dye sector was contrasted by declines in stocks such as Jihua Group (down 3.05%), Annuoqi (down 2.78%), and Jinjiji Shares (down 2.66%) [1][5]