证券代码：301518 证券简称：长华化学 公告编号：2025-061 长华化学科技股份有限公司 关于回购公司股份的进展公告 具体内容详见公司分别于 2024 年 11 月 12 日、12 月 4 日在巨潮资讯网披露的 《关于回购公司股份方案暨取得金融机构股票回购专项贷款承诺书的公告》（公告 编号：2024-038）、《回购股份报告书》（公告编号：2024-042）。 二、回购进展情况 根据《公司法》《证券法》《上市公司股份回购规则》《深圳证券交易所上市 公司自律监管指引第 9 号——回购股份》等法律法规和规范性文件及《公司章程》 的有关规定：在回购股份期间，上市公司应当在每个月的前三个交易日内，公告截 至上月末的回购进展情况。现将公司截至上月末的回购股份进展情况公告如下： 截至 2025 年 8 月 31 日，公司通过回购专用证券账户以集中竞价交易方式累计 回购公司股份 1,039,718 股，占公司目前总股本的 0.74%，购买股份的最高成交价 为 18.69 元/股，最低成交价为 16.04 元/股，成交总金额为 18,208,981.10 元（不 含交易费）。 上述回购资金来源为公司自有资金及股票回购 ...

Market Overview - On August 29, the chemical products sector rose by 0.89%, with Aipu Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3857.93, up 0.37%, while the Shenzhen Component Index closed at 12696.15, up 0.99% [1] Top Gainers in Chemical Sector - Aipu Co., Ltd. (603020) closed at 10.87, up 10.02% with a trading volume of 402,700 shares and a turnover of 424 million yuan [1] - Jianye Co., Ltd. (603948) closed at 29.17, up 9.99% with a trading volume of 49,200 shares and a turnover of 144 million yuan [1] - AkzoNobel (603722) closed at 56.46, up 8.16% with a trading volume of 63,500 shares and a turnover of 347 million yuan [1] - JuHua Co., Ltd. (600160) closed at 38.69, up 6.88% with a trading volume of 792,300 shares and a turnover of 3.027 billion yuan [1] Top Losers in Chemical Sector - ST Quantai (300225) closed at 5.16, down 7.03% with a trading volume of 300,300 shares and a turnover of 159 million yuan [2] - Matsui Co., Ltd. (688157) closed at 40.36, down 6.57% with a trading volume of 55,000 shares and a turnover of 226 million yuan [2] - Kaimete Gas (002549) closed at 15.98, down 4.65% with a trading volume of 1,144,000 shares and a turnover of 1.873 billion yuan [2] Fund Flow Analysis - The chemical products sector experienced a net outflow of 1.219 billion yuan from institutional investors, while retail investors saw a net inflow of 701 million yuan [2] - The sector's overall fund flow indicates a mixed sentiment, with institutional selling and retail buying [2] Individual Stock Fund Flow - Sanmei Co., Ltd. (603379) had a net inflow of 90.6979 million yuan from institutional investors, while retail investors had a net outflow of 11.25% [3] - Newhan New Materials (301076) saw a net inflow of 90.5876 million yuan from institutional investors, with a retail net outflow of 8.07% [3] - Silicon Treasure Technology (300019) had a net inflow of 78.6861 million yuan from institutional investors, but retail investors experienced a net outflow of 5.19% [3]

Core Viewpoint - Longhua Chemical (301518) reported a decline in total revenue for the first half of 2025, but a significant increase in net profit, indicating improved profitability despite lower sales [1] Financial Performance - Total revenue for the first half of 2025 was 1.23 billion yuan, a decrease of 15.8% year-on-year [1] - Net profit attributable to shareholders was 41.13 million yuan, an increase of 62.71% year-on-year [1] - In Q2 2025, total revenue was 651 million yuan, down 18.52% year-on-year, while net profit was 22.43 million yuan, up 589.05% year-on-year [1] - Gross margin increased by 56.03% to 6.39%, and net margin rose by 93.1% to 3.34% [1] - Total operating expenses were 31.48 million yuan, accounting for 2.56% of revenue, an increase of 25.3% year-on-year [1] - Earnings per share rose to 0.30 yuan, a 66.67% increase year-on-year [1] Business Model and Investment Returns - The company's return on invested capital (ROIC) was 3.85% last year, indicating weak capital returns [3] - Historical median ROIC since listing is 11.46%, suggesting better investment returns in the past [3] - The company's performance is heavily reliant on capital expenditures, necessitating careful evaluation of capital projects [3] Technological Development - Longhua Chemical has signed a joint development and licensing agreement with Econic for CO2 polyether catalyst technology [4] - The company is focusing on developing CO2 polyether production processes and applications, resulting in several patented technologies [4] - The CO2 polyether products developed have improved stability and environmental benefits, aligning with national green technology initiatives [4]

Group 1 - The core viewpoint of the article is that Changhua Chemical (301518.SZ) has reported its semi-annual results for 2025, highlighting the significant institutional ownership of its A-shares [1] - As of August 26, 2025, a total of 10 institutional investors hold 97.142 million shares of Changhua Chemical, representing 69.30% of the total share capital [1] - The top ten institutional investors include Jiangsu Changshun Group Co., Ltd., Zhangjiagang Huajin Enterprise Management Partnership (Limited Partnership), and Barclays Bank PLC, among others [1] - Compared to the previous quarter, the combined shareholding ratio of the top ten institutional investors has decreased by 1.57 percentage points [1] Group 2 - In terms of foreign investment, one new foreign institution disclosed its holdings this period, which is Barclays Bank PLC [2]

Group 1 - The core point of the article is that Changhua Chemical (SZ 301518) held its 18th meeting of the third board of directors on August 25, 2025, to review the internal control audit report for 2024 [1] - For the first half of 2025, Changhua Chemical's revenue composition was as follows: ordinary polymer polyols accounted for 65.34%, high-activity polymer polyols accounted for 26.68%, soft foam and CASE-type polyether polyols accounted for 6.8%, and other businesses accounted for 1.18% [1]

Core Viewpoint - Changhua Chemical (301518.SZ) reported a decrease in operating revenue for the first half of 2025, while net profit showed significant growth compared to the previous year [1] Financial Performance - The company's operating revenue for the first half of 2025 was 1.23 billion yuan, representing a year-on-year decrease of 15.80% [1] - Net profit attributable to shareholders was 41.13 million yuan, reflecting a year-on-year increase of 62.71% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 40.28 million yuan, which is a year-on-year increase of 93.88% [1] - Basic earnings per share were 0.30 yuan [1]

Core Insights - Changhua Chemical (301518.SZ) reported a revenue of 1.23 billion yuan for the first half of 2025, representing a year-on-year decrease of 15.80% [1] - The net profit attributable to shareholders of the listed company was 41.13 million yuan, showing a year-on-year increase of 62.71% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 40.28 million yuan, reflecting a year-on-year growth of 93.88% [1] - The basic earnings per share stood at 0.30 yuan [1]

Core Viewpoint - Changhua Chemical (301518.SZ) reported a decrease in operating revenue for the first half of 2025, while net profit showed significant growth compared to the previous year [1] Financial Performance - The company's operating revenue for the first half of 2025 was 1.23 billion yuan, representing a year-on-year decrease of 15.80% [1] - Net profit attributable to shareholders of the listed company was 41.13 million yuan, reflecting a year-on-year increase of 62.71% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 40.28 million yuan, which is a year-on-year increase of 93.88% [1] - Basic earnings per share were reported at 0.30 yuan [1]

东吴证券股份有限公司 关于长华化学科技股份有限公司 追加2025年度日常关联交易预计额度的核查意见 东吴证券股份有限公司（以下简称"东吴证券""保荐机构"）作为长华化学 科技股份有限公司（以下简称"长华化学""公司"）首次公开发行股票并在创业 板上市的保荐机构，根据《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》《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》等相关法律法规和规范性文件的规定，就长华化学追加2025年度 日常关联交易预计额度有关事项进行了审慎核查，具体情况如下： 一、日常关联交易基本情况 （一）日常关联交易概述 公司在同一控制下的不同关联方之间内部调剂使用(包括不同关联交易类别之间 的调剂)。具体交易内容和金额以签订的合同为准。本次追加日常关联交易额度 在公司董事会决策权限范围内，无需提交公司股东会审议。 （二）本次追加2025年预计日常关联交易类别和金额 注1：以上金额均为不含税金额，截至本半年度期末已发生金额为未经审计。 2：根据实际业务需要，在董事会审议通过的关联交易金额内，公司与子公司在同一控制 下的不同关联方之间内部调剂使用(包括不同关 ...

长华化学科技股份有限公司 非经常性损益专项审核报告 立信中联专审字[2025]D-0364 号 立信中联会计师事务所（特殊普通合伙） LixinZhonglian CPAs (SPECIAL GENERAL PARTNERSHIP) 立信中联会计师事务所（特殊普通合伙） LixinZhonglian CPAs (SPECIAL GENERAL PARTNERSHIP) 长华化学科技股份有限公司全体股东： 我们对后附的长华化学科技股份有限公司（以下简称长华化学公司）管理层 编制的 2025 年 1-6 月、2024 年度、2023 年度、2022 年度《长华化学科技股份 有限公司非经常性损益表》及附注（以下简称非经常性损益表）实施了专项审核。 一、 管理层对非经常性损益表的责任 管理层负责按照企业会计准则、中国证券监督管理委员会《公开发行证券的 公司信息披露解释性公告第 1 号—非经常性损益（2023 年修订）》的规定编制 和公允列报非经常性损益表，并负责设计、实施和维护必要的内部控制，以使非 经常性损益表不存在由于舞弊或错误而导致的重大错报。 二、 注册会计师的责任 我们的责任是在执行专项审核工作的基础上对非 ...