Core Viewpoint - The report provides an overview of the fundraising and usage of proceeds by Changhua Chemical Technology Co., Ltd. as of June 30, 2025, confirming compliance with regulatory guidelines and detailing the financial activities related to the raised funds [1][2]. Fundraising Overview - The company raised a total of RMB 902,537,500 through the issuance of 35.05 million shares at RMB 25.75 per share, with actual proceeds after underwriting fees amounting to RMB 851,450,471.70 [2][3]. - The total amount available for use after deducting various fees was RMB 825,059,369.81 [3]. Fund Usage - As of June 30, 2025, the company utilized RMB 651,633,283.81 for investment projects, with a remaining balance of RMB 184,345,219.18 [3][4]. - The company has made changes to its investment projects, notably terminating the "R&D Center Construction Project" and reallocating funds to the "Carbon Dioxide Polyether and High-Performance Polyol Project (Phase I)" [4][5]. Project Details - The "Carbon Dioxide Polyether and High-Performance Polyol Project" is planned in two phases, with total estimated investments of RMB 586,249,000, including RMB 437,252,000 for construction [5]. - The first phase includes the construction of facilities with a capacity of 80,000 tons/year for carbon dioxide polyether and 300,000 tons/year for polyether polyol, while the second phase will expand the capacity further [5]. Financial Management - The company has also engaged in cash management of temporarily idle funds, allowing for investment in low-risk financial products, with a maximum of RMB 50 million allocated for such purposes [10]. - The report indicates that the company has pre-invested RMB 121,347,500 of its own funds into projects before the public offering, which will be replaced by the raised funds [12]. Economic Benefits - The projects funded by the raised capital are expected to enhance the company's operational capabilities and market competitiveness, although some projects, like the R&D center, do not directly generate economic benefits [11][12]. - The expansion of the polymer polyol project has already begun to yield revenue, with reported income of RMB 39,572,170 for the first half of 2025 [12][14].

Core Viewpoint - The company is planning to issue A-shares to specific investors in 2025, which may dilute immediate returns for existing shareholders, and has outlined measures to mitigate this dilution risk [1][2][5]. Financial Impact of the Stock Issuance - The total amount to be raised from the issuance is estimated at 230 million yuan, with the number of shares to be issued being approximately 12.5 million, not exceeding 30% of the total shares before the issuance [2][4]. - The company's net profit for 2024 is projected at 58.1551 million yuan, with different growth scenarios for 2025 being 20%, 10%, or flat compared to 2024 [2][4]. - The basic earnings per share (EPS) under different profit growth scenarios are as follows: - Scenario 1 (20% growth): Pre-issuance EPS is 0.41 yuan, post-issuance EPS is 0.49 yuan [4]. - Scenario 2 (10% growth): Pre-issuance EPS is 0.41 yuan, post-issuance EPS is 0.45 yuan [4]. - Scenario 3 (flat): Pre-issuance EPS is 0.41 yuan, post-issuance EPS remains 0.41 yuan [4]. Necessity and Reasonableness of the Issuance - The issuance is aligned with the company's main business of developing, producing, and selling polyether products, including a new project for carbon dioxide polyether, which supports green economic policies [6][7]. - The project aims to enhance product structure and meet market demand, thereby improving overall competitiveness and profitability [7][8]. Measures to Mitigate Dilution of Immediate Returns - The company plans to implement various measures to enhance operational performance and ensure effective use of raised funds, including strict supervision of fund usage and improving investment decision-making processes [10][12]. - The company will focus on increasing market share, optimizing production processes, and reducing costs to enhance profitability [11][12]. Commitments from Major Stakeholders - The controlling shareholder and management have made commitments to not interfere with company operations or harm company interests, ensuring adherence to measures aimed at mitigating return dilution [13][14].

长华化学科技股份有限公司独立董事 关于《2025 年度以简易程序向特定对象发行股票方案论证分析报 告》的专项意见 公司编制的《2025 年度以简易程序向特定对象发行股票方案论证分析报告》 符合中国证券监督管理委员会、深圳证券交易所和《公司章程》的有关规定，综 合考虑了公司实际情况及目前所处行业现状、未来发展趋势及未来发展战略，充 分论证了本次发行证券及其品种选择的必要性，本次发行对象的选择范围、数量 和标准的适当性，本次发行定价的原则、依据、方法和程序的合理性，本次发行 方式的可行性，本次发行方案的公平性、合理性，本次发行对原股东权益或者即 期回报摊薄的影响以及填补的具体措施等事项符合公司实际情况、行业发展现状 及长远发展规划，符合公司全体股东的利益，不存在损害公司及股东特别是中小 股东利益的情形。 我们一致同意公司编制的《2025 年度以简易程序向特定对象发行股票方案 论证分析报告》。 （本页无正文，为《长华化学科技股份有限公司独立董事关于<2025 年度以简 易程序向特定对象发行股票方案论证分析报告>的专项意见》之签字页） 独立董事： 根据《中华人民共和国公司法》 陈殿胜 何海东 赵彬 《中华人民共和国证 ...

证券代码：301518 证券简称：长华化学 公告编号：2025-048 长华化学科技股份有限公司 关于最近五年公司不存在被证券监督管理部门和证券交易所 采取监管措施或处罚情况的公告 公司最近五年不存在被证券监管部门和证券交易所采取监管措施或处罚的情 况。 特此公告。 长华化学科技股份有限公司董事会 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。 长华化学科技股份有限公司（以下简称"公司"）于 2025 年 7 月 30 日召开 了第三届董事会第十七次会议及第三届监事会第十三次会议，审议通过了公司 近五年是否被证券监督管理部门和证券交易所采取监管措施或处罚的情况进行了 自查，自查结果如下： 自公司上市以来，公司严格按照《中华人民共和国公司法》《中华人民共和 国证券法》《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》及《公司章程》的相关规定和要求，不断完善公司治理结构，建立健 全内部控制制度，提高公司规范运作水平，积极保护投资者合法权益，促进公司 持续、稳定、健康发展。 ...

证券代码：301518 证券简称：长华化学 公告编号：2025-047 长华化学科技股份有限公司 关于聘任 2025 年度以简易程序向特定对象发行股票 专项审计机构的公告 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。 长华化学科技股份有限公司（以下简称"公司"）于 2025 年 7 月 30 日召 开第三届董事会第十七次会议，审议通过《关于聘任 2025 年度以简易程序向特 定对象发行股票专项审计机构的议案》，同意聘请立信中联会计师事务所（特 殊普通合伙）（以下简称"立信中联"）为公司 2025 年度以简易程序向特定对 象发行股票的专项审计机构。根据公司 2024 年年度股东会的决议，该事项在 股东会授权董事会办理小额快速融资相关事宜的范围内，无需提交公司股东会 审议。具体情况如下： 一、 拟聘会计师事务所的基本情况 （一）机构信息 (1) 机构名称：立信中联会计师事务所（特殊普通合伙） (2) 成立日期：2013 年 10 月 31 日（由立信中联闽都会计师事务所有限公 司转制设立） (3) 组织形式：特殊普通合伙会计师事务所 (4) 注册地址：天津自贸试 ...

Summary of Key Points Core Viewpoint The report outlines the usage of funds raised by Changhua Chemical Technology Co., Ltd. through its initial public offering, detailing the total amount raised, expenses incurred, and the allocation of funds to various projects, including a significant shift in investment focus towards a new project involving carbon dioxide polyether and high-performance polyols. Group 1: Fundraising and Allocation - The company raised a total of RMB 902,537,500.00 by issuing 35.05 million shares at RMB 25.75 each, with net proceeds after underwriting fees amounting to RMB 851,450,471.70 [1][2]. - After deducting various expenses, the actual usable funds were RMB 825,059,369.81, with a remaining balance of RMB 184,345,219.18 as of June 30, 2025 [1][2]. Group 2: Project Changes and Investments - In April 2024, the company decided to terminate the original fundraising project for the "Research and Development Center" and redirect the funds towards the "Carbon Dioxide Polyether and High-Performance Polyols Project (Phase I)" [2][3]. - The total investment for the new project is estimated at RMB 586,249.00 million, with Phase I expected to cost RMB 331,377.00 million [4]. Group 3: Financial Management and Efficiency - The company has implemented cash management strategies for temporarily idle funds, allowing for investment in low-risk financial products, with a maximum of RMB 50,000 million allocated for such purposes [6]. - The report indicates that the company has pre-invested RMB 121,347,500.00 of its own funds into projects before the public offering funds were available, which will be replaced by the raised funds [6]. Group 4: Economic Benefits and Performance - The report highlights that the "Carbon Dioxide Polyether and High-Performance Polyols Project" is expected to enhance the company's research capabilities and market competitiveness, although the R&D center itself does not directly generate economic benefits [7][8]. - The company anticipates that the new project will improve production efficiency and expand market share, contributing positively to overall profitability [8].

长华化学科技股份有限公司 未来三年股东回报规划（2025 -2027 年） 长华化学科技股份有限公司 二、本规划的制定原则 未来三年股东回报规划（2025-2027 年） 为进一步完善长华化学科技股份有限公司（以下简称"公司"）科学、持续、 稳定的分红决策和监督机制，积极回报投资者，引导投资者树立长期投资和理性 投资理念，并形成稳定的回报预期，根据中国证券监督管理委员会《上市公司监 管指引第 3 号——上市公司现金分红》等相关法律法规、规范性文件及《长华化 学科技股份有限公司公司章程》（以下简称"《公司章程》"）的规定，结合公 司实际情况，制定公司《未来三年股东回报规划（2025-2027 年）》（以下简称 "本规划"），具体如下： 一、制定本规划的考虑因素 在制定本规划时，公司未来三年股东回报规划（2025-2027 年）是在综合分 析行业发展趋势、公司经营发展实际情况、股东的诉求和意愿、社会资金成本、 外部融资环境等因素的基础上，充分考虑公司所处的发展阶段、目前及未来的盈 利能力、现金流量状况、以净资本和流动性为核心的风险控制指标等情况，在平 衡短期利益和长期利益的基础上，对利润分配做出制度性安排，以保证 ...

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。 长华化学科技股份有限公司（以下简称"公司"或"本公司"）于 2025 年 7 月 30 日召开第三届董事会第十七次会议及第三届监事会第十三次会议，审议通 过了公司 2025 年度以简易程序向特定对象发行股票的相关议案。现公司就本次 以简易程序向特定对象发行股票不存在直接或通过利益相关方向参与认购的投 资者提供财务资助或补偿事宜承诺如下： 本公司不存在且未来亦不会存在向发行对象作出保底保收益或者变相保底 保收益承诺的情形，不存在且未来亦不会存在直接或者通过利益相关方向发行 对象提供财务资助或者其他补偿的情形。 特此公告。 证券代码：301518 证券简称：长华化学 公告编号：2025-046 长华化学科技股份有限公司 关于本次以简易程序向特定对象发行股票 不存在直接或通过利益相关方向参与认购的投资者 提供财务资助或补偿的公告 长华化学科技股份有限公司董事会 ...

Core Viewpoint - Changhua Chemical Technology Co., Ltd. plans to issue shares to specific investors in 2025 to raise funds for projects aimed at promoting green and sustainable development, particularly focusing on carbon-neutral and circular economy initiatives [12][13][17]. Group 1: Issuance Overview - The company intends to raise a total of up to 230 million RMB through this issuance, with the net proceeds allocated to specific projects after deducting related issuance costs [23][26]. - The issuance will be conducted under a simplified procedure and requires approval from the Shenzhen Stock Exchange and the China Securities Regulatory Commission [1][2]. - The final issuance targets will be determined based on the board's authorization and market conditions, with a maximum of 35 specific investors eligible to participate [19][20]. Group 2: Project Background and Purpose - The issuance is aligned with China's "dual carbon" goals, aiming for peak carbon emissions by 2030 and carbon neutrality by 2060, reflecting a global shift towards sustainable practices [12][13]. - The company aims to develop carbon dioxide polyether products, which utilize CO2 as a raw material, thereby reducing reliance on fossil fuels and supporting the transition to a circular economy [16][28]. - The project is expected to enhance the company's product structure, meet market demand for high-performance, carbon-neutral products, and improve overall competitiveness in the polyurethane industry [17][27]. Group 3: Financial and Market Implications - The successful implementation of the fundraising project is anticipated to expand the company's business scale and enhance profitability, contributing to sustainable development [18][19]. - The company plans to leverage its existing customer base in automotive and high-end furniture sectors to increase sales of the new carbon-neutral products, thereby enhancing brand loyalty and market presence [18][28]. - The project is expected to improve the company's financial structure, reduce debt levels, and increase its capacity to withstand market risks [18][19].

证券简称：长华化学 股票代码：301518 长华化学科技股份有限公司 股票方案论证分析报告 二〇二五年七月 长华化学科技股份有限公司 2025 年度以简易程序向特定对象发行股票方案论证分析报告 长华化学科技股份有限公司（以下简称"长华化学""公司"）为满足公司 经营战略的实施和业务发展的资金需求，进一步增强公司资本实力，优化资本结 构，提升盈利能力和市场竞争力，根据《公司法》《证券法》和《上市公司证券 发行注册管理办法》等有关法律法规和规范性文件的规定，公司拟以简易程序向 特定对象发行股票，募集资金总额不超过人民币 23,000.00 万元（含本数）,扣除 发行费用后的募集资金净额将全部用于以下项目： 单位：万元 序号 项目名称 项目投资总额 拟使用募集资金 在本次募集资金到位之前，公司将根据募集资金拟投资项目实际进度情况以 自筹资金先行投入，并在募集资金到位后按照相关法规规定的程序予以置换。募 集资金到位后，若扣除发行费用后的实际募集资金净额少于拟投入募集资金总额， 公司将在上述项目范围内，根据项目进度、资金需求等实际情况，调整并最终决 定募集资金投入金额等使用安排，不足部分由公司以自筹资金解决。 若本次向 ...