中信建投证券股份有限公司 关于长华化学科技股份有限公司股东 向特定机构投资者询价转让股份 相关资格的核查意见 中信建投证券收到出让方关于本次询价转让的委托，委托中信建投证券组织 实施本次询价转让。 二、 关于参与本次询价转让股东相关资格的核查情况 中信建投证券股份有限公司（以下简称"中信建投证券"）受长华化学科技 股份有限公司（以下简称"长华化学"）股东上海创丰昕汇创业投资管理有限公 司－厦门创丰昕辉投资管理合伙企业（有限合伙）（以下简称"出让方"）委托， 组织实施本次长华化学首发前股东向特定机构投资者询价转让（以下简称"本次 询价转让"）。 根据《上市公司股东减持股份管理暂行办法》《创业板上市公司持续监管办 法（试行）》《深圳证券交易所创业板股票上市规则（2025 年修订）》《深圳证券交 易所上市公司自律监管指引第 18 号——股东及董事、高级管理人员减持股份 （2025 年修订）》《深圳证券交易所上市公司自律监管指引第 16 号——创业板 上市公司股东询价和配售方式转让股份（2025 年修订）》（以下简称"《询价转让 和配售指引》"）等相关规定，中信建投证券对参与本次询价转让股东的相关资格 进行核查，并出 ...

长华化学：股东拟询价转让1%公司股份 智通财经6月4日电，长华化学(301518.SZ)公告称，公司－厦门创丰昕辉投资管理合伙企业（有限合 伙）拟通过询价转让方式转让140万股，占公司总股本的1.00%，转让原因为自身资金需求。此次询价 转让不通过集中竞价交易或大宗交易方式进行，受让方通过询价转让受让的股份，在受让后6个月内不 得转让。 ...

Group 1 - The shareholder Shanghai Chuangfeng Xinhui Venture Capital Management Co., Ltd. plans to transfer 1.4018 million shares of Changhua Chemical, accounting for 1.00% of the company's total share capital [1] - The transfer will not be conducted through centralized bidding or block trading methods [1] - The buyer will be institutional investors with corresponding pricing capabilities and risk tolerance, and the shares cannot be transferred within six months after the acquisition [1]

证券代码：301518 证券简称：长华化学 公告编号：2025-025 一、回购事项概述 长华化学科技股份有限公司（以下简称"公司"）于 2024 年 11 月 11 日召开 第三届董事会第十二次会议，审议通过了《关于回购公司股份方案的议案》，同意 公司使用资金总额不超过 2,000 万元（含），不低于 1,000 万元（含）的自有资金 及中国建设银行股份有限公司张家港分行提供的股票回购专项贷款以集中竞价交 易方式回购公司人民币普通股（A 股），其中专项贷款金额不超过 1,400 万元。回 购股份将用于员工持股计划或股权激励，回购的实施期限为自公司第三届董事会第 十二次会议审议通过回购方案之日起不超过 12 个月。 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《 ...

Industry Overview - The Chinese polyether market price was 10,400 yuan/ton as of the end of March 2025, facing severe challenges of overcapacity [12] - Total polyether production capacity reached 9.5 million tons/year by February 2025, with expectations to exceed 11 million tons/year due to new capacity from several factories [12] - Despite the automotive and soft furniture industries being in a relatively busy season, overall demand remains weak, leading to increasing supply surplus issues [12] Industry Development History - The polyether industry in China has gone through four main stages, starting from the establishment of the largest polyether production facility in 1989 with an annual capacity of 20,000 tons [4] - By the end of 1996, national polyether production capacity reached 260,000 tons/year, marking a nearly 50% increase from 1994 [5] - The 2000s saw structural adjustments and technological innovations, with China becoming the second country to master PEEK technology in 2000 [5] Industry Current Status - The polyether market is currently characterized by overcapacity, with production capacity expected to exceed demand in the near future [12] - The market activity is low, and the overall demand is not keeping pace with the production capacity expansion [12] Industry Segmentation - The special polyether market, including low unsaturation polyether and bio-based polyether, saw a market size of 2.166 billion yuan in 2024, a year-on-year decrease of 6.92% [14] - Demand growth in downstream applications, particularly in new energy and high-end manufacturing, has slowed due to global economic conditions [14] Key Companies' Performance - Wanhua Chemical, a leading player in the polyether industry, reported a revenue of 46.161 billion yuan in Q1 2024, showing a 6.70% year-on-year decline [18] - Changhua Chemical achieved a revenue of 3.05 billion yuan in 2024, with a year-on-year growth of 12.47% [20] - Longhua New Materials focuses on soft foam polyether and CASE polyether, with products widely used in various sectors [20] Industry Development Trends - The polyether industry is expected to continue growing, driven by expanding downstream applications and steady demand growth [22] - Technological innovation and green production are becoming core drivers for future development, with a focus on cleaner and safer production technologies [24] - The competitive landscape is evolving, with leading companies consolidating their market positions while smaller firms seek opportunities through differentiation and industry chain integration [25]

Core Insights - The lithium battery industry is undergoing significant technological transformation, characterized by accelerated performance iteration on the demand side and increasingly stringent requirements for cost reduction at scale [2][3]. Group 1: Solid-State Battery Innovations - High Energy Manufacturing has introduced 14 core technologies aimed at the industrialization of solid-state batteries, including integrated preparation technology and high-quality dry electrode technology [4][5]. - The solid-state battery preparation technology utilizes automated equipment for both dry and wet processes, catering to diverse customer needs [5][6]. Group 2: Intelligent Manufacturing Solutions - Sikeqi showcased its complete production line solutions for lithium batteries, emphasizing intelligent manufacturing standards in energy storage [7][9]. - The company highlighted three core technology areas: precision detection systems, advanced laser application processes, and digital solutions that enhance management efficiency [10][11][12]. Group 3: Advanced Detection Technologies - Huashi Group presented innovations in battery detection equipment, focusing on high-speed and high-precision detection systems [13][15]. - The company’s products include a high-precision CT series and a CCD burr detection system, which enhance the quality control process in battery manufacturing [16][20]. Group 4: Equipment and Automation - Yifei Laser introduced a range of products aimed at upgrading lithium battery manufacturing, including intelligent laser processing systems and automated assembly lines [23][25]. - The company emphasized the integration of advanced technologies to improve production efficiency and product quality [26]. Group 5: Comprehensive Testing Solutions - Ruineng Co. showcased a full range of battery testing and automatic detection solutions, supporting various battery types and applications [34][36]. - The company’s innovations include a portable battery testing device designed for health assessment and secondary utilization in the after-market sector [37].

Market Overview - On May 16, the Shanghai Composite Index fell by 0.4%, the Shenzhen Component Index decreased by 0.07%, and the ChiNext Index declined by 0.19% [2] - A total of 45 stocks appeared on the "Dragon and Tiger List" due to significant market movements, with the highest net inflow of funds being 505 million yuan into Hongbaoli (002165.SZ) [2] Stock Performance - Among the 45 stocks on the list, 30 experienced net buying while 15 faced net selling [2] - Hongbaoli saw a closing price increase of 9.99% with a turnover rate of 41.28% [2] - The stock with the highest net outflow was Yushanchuan A (000565.SZ), which had a net selling amount of 96 million yuan, despite a closing price increase of 9.97% and a turnover rate of 32.9% [2] Institutional Activity - On the same day, 21 stocks on the list showed institutional involvement, with a total net buying of 227 million yuan by institutions [2] - The stock with the highest institutional net buying was Kuaijingtong (002640.SZ), which closed up by 2.31% and had a turnover rate of 39.61% [2] - The stock with the highest institutional net selling was Changhua Chemical (301518.SZ), which closed up by 5.28% and had a turnover rate of 39.15% [2] Northbound Capital - Northbound funds participated in 7 stocks on the Dragon and Tiger List, with a total net buying of 128 million yuan [3] - The highest net buying from northbound funds was in Huaxia Happiness (600340.SH), amounting to 39.65 million yuan, which accounted for 6.83% of the total transaction amount [3] - The stock with the highest net selling by northbound funds was Haoen Qidian (301488.SZ), with a net selling amount of 646,970 yuan, despite a closing price increase of 20% and a turnover rate of 30.02% [3] Divergence in Institutional and Northbound Funds - There was a divergence in the trading of Gribro, where institutions sold 24.37 million yuan while northbound funds bought 7.87 million yuan [3]

Market Overview - The ChiNext Index rose by 1.01%, closing at 2083.14 points, with a total trading volume of 369.47 billion yuan, an increase of 1.243 billion yuan compared to the previous trading day [1] - Among the tradable ChiNext stocks, 490 stocks closed higher, with 13 stocks rising over 10%, including Feilida, Hengerd, and Jiean Gaoke, which hit the daily limit [1] Trading Activity - The average turnover rate for the ChiNext today was 3.74%, with 42 stocks having a turnover rate exceeding 20% [1] - The highest turnover rate was for Xinlei Co., which closed up 8.62% with a turnover rate of 61.73% and a trading volume of 1.114 billion yuan [1] - Other notable high turnover stocks included Changhua Chemical and Honggong Technology, with turnover rates of 53.66% and 39.93%, respectively [1] Institutional Activity - In terms of institutional trading, 10 stocks with high turnover rates appeared on the Dragon and Tiger list, indicating significant institutional involvement [2] - Hengxin Life saw a net institutional buy of 45.31 million yuan, while Tianli Technology and Changhua Chemical had net buys of 43.19 million yuan and 41.06 million yuan, respectively [2] Capital Flow - Among high turnover stocks, 21 experienced net inflows of main funds, with the highest inflows seen in Zhongji Huan Ke, Tianli Technology, and Tianyuan Dike, amounting to 244 million yuan, 195 million yuan, and 188 million yuan, respectively [3] - Conversely, stocks like Chenxi Aviation and Aileda experienced significant net outflows, with amounts of 126 million yuan and 88.32 million yuan, respectively [3] Performance Summary - A total of 1 stock among high turnover stocks released a half-year performance forecast, with Zhongjie Automobile expecting a net profit of 48 million yuan, reflecting a year-on-year increase of 4.72% [3] - The performance of stocks with high turnover rates varied, with notable gainers including Feilida and Jiean Gaoke, both hitting the daily limit, while Hengbo Co. and Chenxi Aviation saw declines of 8.49% and 4.07%, respectively [1][3]

Market Overview - As of May 14, the Shanghai Composite Index closed at 3403.95 points, up 29.08 points, with a gain of 0.86% [1] - The Shenzhen Component Index closed at 10354.22 points, up 66.14 points, with a gain of 0.64% [1] - The ChiNext Index closed at 2083.14 points, up 20.88 points, with a gain of 1.01% [1] High Turnover Stocks - A total of 113 A-shares had a turnover rate exceeding 20% on May 14, indicating significant trading activity [1] - Notable stocks with high turnover rates include: - Huaguang Yuanhai (证券代码: 872351) with a turnover rate of 62.71% and a price increase of 30.00% [1] - Xinlei Co., Ltd. (证券代码: 301317) with a turnover rate of 61.73% and a price increase of 8.62% [1] - Huafang Co., Ltd. (证券代码: 600448) with a turnover rate of 56.17% and a price increase of 6.43% [1] Additional High Turnover Stocks - Other stocks with notable turnover rates include: - Hongqiang Co., Ltd. (证券代码: 002809) with a turnover rate of 53.74% and a price increase of 3.84% [1] - Changhua Chemical (证券代码: 301518) with a turnover rate of 53.66% and a price increase of 6.99% [1] - Qingdao Jinwang (证券代码: 002094) with a turnover rate of 52.89% and a price increase of 10.06% [1] Summary of Turnover Rates - The data indicates a trend of increased trading activity in the market, with several stocks experiencing significant price movements alongside high turnover rates [1][2][3][4]

Group 1: Financial Performance - In 2024, the company achieved a sales volume of 325,000 tons, an increase of 18.61% year-on-year, with revenue of 3.05 billion yuan, up 12.47% year-on-year [2] - The net profit attributable to shareholders was 58.1551 million yuan, a decrease of 49.90% year-on-year, primarily due to market factors and fluctuations in raw material prices [2] - In Q1 2025, the company reported revenue of 579 million yuan, a decline of 12.51% year-on-year, and a net profit of 18.6976 million yuan, down 15.10% year-on-year [3] Group 2: Industry Context and Challenges - The global macroeconomic environment is complex, leading to reduced downstream demand and increased price sensitivity [3] - Geopolitical conflicts have hindered exports and raised shipping costs, while continuous capacity expansion in the polyether industry has intensified competition [3] - The company faces significant operational pressure due to these factors, but government policies aimed at economic recovery may increase demand for polyether products [3] Group 3: Product and Market Strategy - The company's POP products accounted for the largest sales share in 2024, with a domestic market share of 24.92% [4] - To enhance profitability, the company is focusing on cost reduction and efficiency improvements, alongside continuous technological innovation [4] - The company is expanding its overseas market presence, with significant growth in exports to Southeast Asia, India, Europe, and the Middle East [5] Group 4: Research and Development - The company has restructured its research institute to enhance innovation capabilities, with a 10.74% increase in R&D investment in 2024 [6] - New projects, such as the carbon dioxide polyether and high-performance polyol project, are expected to provide significant economic benefits upon completion in Q4 2025 [6] - The company has filed 15 new patent applications and received 6 new patents during the reporting period [6] Group 5: Sustainability and Future Outlook - The company is committed to sustainable development, integrating ESG principles into its operations and focusing on green supply chain upgrades [7] - The rapid growth of the electric vehicle industry presents new opportunities for the company, particularly in high-performance polyether applications [8] - The company plans to continue developing special polyethers and expand its market share in the electric vehicle sector [8]