奥克股份(300082) - 2025 Q2 - 季度财报

Part I Important Notes, Table of Contents, and Definitions This section provides crucial disclaimers, a detailed report structure, and definitions of key terms used throughout the financial report Important Notes The Board of Directors, Board of Supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report, with the company's head affirming the financial report's authenticity - The company's Board of Directors, Board of Supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report, and the company's head declares the financial report is authentic[4] - The report highlights major risks including safety and environmental protection, procurement, industry overcapacity, accounts receivable, exchange rates, raw material supply, and investments[4] - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for this semi-annual period[5] Table of Contents This section lists the main chapters of the report, covering company profile, key financial indicators, management discussion and analysis, corporate governance, environmental and social aspects, significant matters, share changes, shareholder information, bond-related matters, and financial statements - The report's main chapters include Company Profile and Key Financial Indicators, Management Discussion and Analysis, Corporate Governance, Environment and Society, Significant Matters, Changes in Share Capital and Shareholder Information, Bond-Related Information, and Financial Report[7] Definitions This section defines common terms used in the report, including company names, controlling shareholders, key chemicals (e.g., ethylene oxide, EOD, polyether, EC, PEG, ethylene sulfite) and their derivatives, as well as the full names of major subsidiaries - Key terms such as the Company, controlling shareholder, ethylene oxide, EOD, polyether, EC, ethoxylation, polyether monomer, polycarboxylate superplasticizer, PEG, and ethylene sulfite are defined[13] - The full names of major subsidiaries including Jiangsu Oxirane, Guangdong Oxirane, Sichuan Oxirane, Wuhan Oxirane, Jilin Oxirane, Hainan Oxirane, and Oxirane Pharma are listed[13] Part II Company Profile and Key Financial Indicators This section provides an overview of the company's basic information, contact details, and key financial performance metrics for the reporting period Company Profile The company's stock abbreviation is "Oxirane Chemical", stock code 300082, listed on the Shenzhen Stock Exchange, with Zhu Jianmin as the legal representative - The company's stock abbreviation is "Oxirane Chemical", stock code 300082, and it is listed on the Shenzhen Stock Exchange[15] - The company's legal representative is Zhu Jianmin[15] Contact Person and Information This section provides contact information for the company's Board Secretary Ma Shuai and Securities Affairs Representative Cao Xiaohan, including address, phone, fax, and email, to facilitate investor communication - The Board Secretary is Ma Shuai, and the Securities Affairs Representative is Cao Xiaohan[16] - The contact address is Room L1A-706, Hongqiao World Center, No. 568, Zhuguang Road, Xujing Town, Qingpu District, Shanghai; phone and fax are both 021-69830086; and the email is oxiranchem@126.com[16] Other Information During the reporting period, there were no changes in the company's registered address, office address, website, email, information disclosure and document storage locations, or registration status, with specific details available in the 2024 annual report - The company's registered address, office address, website, and email remained unchanged during the reporting period[17] - Information disclosure and document storage locations remained unchanged during the reporting period[18] - The company's registration status remained unchanged during the reporting period[19] Key Accounting Data and Financial Indicators In the first half of 2025, the company's operating revenue increased by 11.21% year-on-year, and net profit attributable to shareholders turned profitable, growing by 101.29%; however, net cash flow from operating activities decreased by 22.27%, while total assets and net assets attributable to shareholders slightly declined 2025 Semi-Annual Key Accounting Data and Financial Indicators | Indicator | Current Period (yuan) | Prior Year Period (yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 2,041,997,301.20 | 1,836,117,836.40 | 11.21 | | Net Profit Attributable to Listed Company Shareholders | 1,303,496.00 | -100,781,590.33 | 101.29 | | Net Profit Attributable to Listed Company Shareholders (Excluding Non-Recurring Gains/Losses) | -34,522,890.96 | -110,097,658.59 | 68.64 | | Net Cash Flow from Operating Activities | -498,932,743.76 | -408,059,362.80 | -22.27 | | Basic Earnings Per Share (yuan/share) | 0.0019 | -0.1482 | 101.27 | | Diluted Earnings Per Share (yuan/share) | 0.0019 | -0.1482 | 101.27 | | Weighted Average Return on Net Assets | 0.05 | -3.49 | 3.54 | | End of Current Period (yuan) | End of Prior Year (yuan) | Change from Prior Year-End (%) | | | Total Assets | 5,457,811,498.58 | 5,726,716,255.37 | -4.70 | | Net Assets Attributable to Listed Company Shareholders | 2,750,745,065.09 | 2,757,273,722.49 | -0.24 | Differences in Accounting Data under Domestic and Overseas Accounting Standards During the reporting period, the company reported no differences in net profit and net assets between financial statements prepared under International Accounting Standards or overseas accounting standards and those prepared under Chinese Accounting Standards - The company reported no differences in net profit and net assets between financial statements disclosed under International Accounting Standards and Chinese Accounting Standards during the reporting period[21] - The company reported no differences in net profit and net assets between financial statements disclosed under overseas accounting standards and Chinese Accounting Standards during the reporting period[22] Non-Recurring Gains and Losses Items and Amounts During the reporting period, the company's total non-recurring gains and losses amounted to RMB 35.826 million, primarily from disposal gains on non-current assets, government grants, fair value changes, and non-operating income such as performance compensation and equity-for-debt from Shanghai Dongshuo 2025 Semi-Annual Non-Recurring Gains and Losses Items and Amounts | Item | Amount (yuan) | Explanation | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | 6,838,733.71 | | | Government Grants Included in Current Profit/Loss | 5,134,645.46 | | | Gains/Losses from Changes in Fair Value of Financial Assets and Liabilities, and Disposal of Financial Assets and Liabilities (excluding effective hedging activities related to normal business operations) | 183,900.00 | | | Gains/Losses from Entrusted Investment or Asset Management | 625,513.15 | | | Reversal of Impairment Provisions for Accounts Receivable Subject to Separate Impairment Testing | 1,269,587.26 | | | Other Non-Operating Income and Expenses (excluding the above) | 28,119,517.01 | Primarily performance compensation and equity-for-debt received from Shanghai Dongshuo | | Less: Income Tax Impact | 6,158,170.59 | | | Impact on Minority Interests (after tax) | 187,339.04 | | | Total | 35,826,386.96 | | - The company has no other profit or loss items that meet the definition of non-recurring gains and losses, nor does it classify non-recurring gains and losses as recurring gains and losses[25] Part III Management Discussion and Analysis This section analyzes the company's main business activities, core competencies, financial performance, investment status, and risks, along with corresponding countermeasures Company's Main Business Activities During the Reporting Period The company adheres to a green, low-carbon, fine chemical, new energy, and new materials development strategy based on epoxy derivatives, expanding into new energy materials like ethylene sulfite (ES) while optimizing operations and enhancing innovation to improve efficiency amidst industry challenges - The company adheres to the development strategy of "creating value by focusing on the industrialization of high-end technologies such as epoxy-derived green, low-carbon, fine chemicals, new energy, and new materials"[27] - While maintaining traditional business segments (polyether monomer for superplasticizers, pharmaceutical excipients, non-ionic surfactants), the company is expanding into epoxy-derived polyethylene glycol for lithium battery cathode materials, battery-grade ethylene carbonate solvents, and has achieved mass production of the new lithium battery additive material ethylene sulfite (ES)[27][28][29] - In the first half of 2025, the company achieved operating revenue of RMB 2.042 billion, a year-on-year increase of 11.21%; net profit attributable to listed company shareholders was RMB 1.3035 million, an increase of RMB 102.0851 million compared to the first half of 2024[53] Company's Main Products and Uses The company's products are categorized into traditional epoxy derivatives and new energy new materials, with traditional products serving infrastructure, pharmaceuticals, and daily chemicals, while new materials focus on lithium batteries and energy storage - Traditional epoxy derivative products include polyether monomers for superplasticizers, pharmaceutical excipients (high-purity polyethylene glycol), and non-ionic surfactants[28] - New energy new materials products include polyethylene glycol (PEG) for lithium battery cathode materials, battery-grade carbonate solvents, and the new lithium battery additive material ethylene sulfite (ES)[28] - The company's ethylene carbonate and dimethyl carbonate production process technology holds independent intellectual property rights and is "world-first, internationally leading," achieving resource utilization of carbon dioxide[28][29] Industry Analysis The company operates in diverse sectors: the construction chemicals industry faces demand challenges but has long-term growth potential, new energy materials benefit from EV growth despite temporary oversupply, pharmaceutical excipients are driven by aging populations and healthcare reforms, and non-ionic surfactants maintain stable demand with a green development trend - The construction chemicals industry (polycarboxylate superplasticizer polyether monomer) is experiencing bottoming demand, impacted by national infrastructure and real estate, leading to short-term profit pressure, but benefits long-term from capacity rationalization and international market demand[30][31][33] - The new energy new materials industry benefits from the rapid development of new energy vehicles (cumulative production increased by 38.7% from January to June 2025) and power batteries (cumulative output increased by 60.40% year-on-year), though the electrolyte solvent market is experiencing temporary oversupply[34][35] - The pharmaceutical excipients industry is driven by an aging population, expanded medical insurance, and new medical reform policies, leading to steady market growth and accelerated domestic substitution[37] - The non-ionic surfactant industry maintains stable market demand and is developing towards green sustainability, but short-term growth is limited by overcapacity and environmental policies[38] Industry Competitive Landscape and Company's Position Despite overcapacity in polycarboxylate superplasticizer polyether monomer, the company maintains a leading market position; in new energy materials, carbon ester sales decreased, but new lithium battery additive ES achieved industrial production, and pharmaceutical excipient sales significantly increased - The polycarboxylate superplasticizer polyether monomer industry faces overcapacity and weak end-user demand, yet the company's main products consistently hold a leading market share in China[39][40] - The new energy new materials industry is highly competitive, with the company's carbonate series product sales decreasing by 31% year-on-year, but the new lithium battery additive material ethylene sulfite (ES) project achieved industrial production using a world-first new process[41] - The company is a major supplier of pharmaceutical-grade polyethylene glycol excipients to over 400 domestic formulation enterprises, holding EXCiPACT certification, with raw material sales increasing 8.3 times year-on-year and injectable-grade product sales increasing 5 times year-on-year[43][44] Main Business Models The company's business model integrates a complete ethylene-epoxy ethylene-epoxy derivative industrial chain with a national footprint, focusing on customer-centric marketing, centralized procurement, autonomous production, and R&D collaboration to expand into new energy battery materials - Profit Model: Leveraging a complete ethylene-ethylene oxide-ethylene oxide derivative industrial chain, million-ton capacity, and national layout, while expanding into the new energy battery materials market[46] - Marketing Model: Customer-centric approach, capturing new markets through national presence, implementing "production based on sales, sales promoting production," and controlling accounts receivable risks[47][48] - Procurement Model: Centralized procurement with separation of management and operations, optimizing supply channels, strengthening price control for bulk raw materials, and collaborating with upstream manufacturers for ethylene resources[49] - Production Model: All products are self-produced; conventional products (polycarboxylate superplasticizer polyether monomer, carbonate series products, and conventional polyethylene glycol) use inventory-based production, while differentiated products (differentiated superplasticizer polyether, high-end polyethylene glycol, and fatty alcohol ethers) use order-based production[50] - R&D Model: Enterprise-led, market-oriented, combining industry, academia, and research, focusing on epoxy-derived new energy battery new materials, with national-level technology centers and postdoctoral research workstations as innovation platforms[51][52] Analysis of Company's Operations and Management In the first half of 2025, the company achieved a year-on-year increase in operating revenue and a turnaround in net profit, driven by talent development, efficiency improvements, technological innovation, organizational reforms, and scientific management, leading to significant growth in new energy and pharmaceutical product sales and international market expansion 2025 Semi-Annual Operating Performance | Indicator | Amount (RMB 10,000) | YoY Change (RMB 10,000) | | :--- | :--- | :--- | | Operating Revenue | 204,199.73 | 11.21% | | Net Profit Attributable to Listed Company Shareholders | 130.35 | Increase 10,208.51 | | Net Profit Attributable to Listed Company Shareholders (Excluding Non-Recurring Gains/Losses) | -3,452.29 | Loss reduced by 7,557.48 | - The company implements a talent-strengthening strategy to enhance the professional quality of its workforce[53] - The company comprehensively improves quality and efficiency, optimizes procurement strategies, reduces production costs, achieves 21,000 tons in sales of polyethylene glycol for new energy lithium batteries, significantly increases sales of pharmaceutical-grade and injectable-grade polyethylene glycol, and sees a 46% year-on-year increase in international market sales[54] - The company continuously promotes a comprehensive technology-strengthening strategy, accelerating the formation of new productive forces, developing specialized and innovative products, and cultivating future industries[54][55] - The company deepens institutional reforms, implements a matrix-style operational management model, and comprehensively promotes scientific management, solidifying the safety, environmental, and risk control bottom line, while practicing ESG management and a green, low-carbon development strategy[55] Analysis of Core Competencies The company's core competencies stem from its comprehensive industrial layout, robust technological innovation, strong brand reputation, advanced process and environmental technologies, and a well-developed talent management system, positioning it as a leader in epoxy-derived fine chemicals and new materials - The company possesses the most complete, largest, and most widely distributed epoxy-derived green, low-carbon fine chemical new materials manufacturing enterprise in China, with production bases in Liaoning, Jilin, Jiangsu, Hubei, Sichuan, Guangdong, and Hainan, forming a strong industrial layout advantage[56] - The company is among the first batch of national innovative enterprises and a key national high-tech enterprise, boasting innovation platforms such as a national-level enterprise technology center, postdoctoral research workstation, and academician workstation; in the first half of 2025, it obtained 8 authorized patents, with a total of 353 effective authorized patents[57][58] - The company's brand "Oxirane OXIRANE and logo" is recognized as a China Well-known Trademark, and it has established strategic partnerships with renowned enterprises like Kezhijie, Subote, and CATL, enjoying a strong reputation in the industry[58] - All of the company's production lines adopt full-process, high-standard automated design, promote green planning and development, and enhance carbon management awareness among all employees through a carbon management system, practicing a "green and low-carbon" development strategy[59] - The company adheres to the philosophy that "talent is the primary resource," building a precise recruitment system, improving layered and categorized training mechanisms, perfecting incentive and restraint mechanisms, and optimizing talent evaluation and development mechanisms to provide talent assurance for high-quality development[59][60][61] Analysis of Main Business In the first half of 2025, the company's operating revenue increased by 11.21% due to higher sales volume, while operating costs rose by 6.10%; sales expenses increased by 36.99% due to higher employee compensation, management expenses decreased by 21.74% due to reduced downtime losses and repair costs, and financial expenses surged by 115.93% due to lower bank deposit interest income; polyether monomer, polyethylene glycol, and fatty alcohol ethers are key products, with polyethylene glycol and fatty alcohol ethers showing significant revenue growth and stable or improved gross margins 2025 Semi-Annual Major Financial Data Year-on-Year Changes | Indicator | Current Period (yuan) | Prior Year Period (yuan) | YoY Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 2,041,997,301.20 | 1,836,117,836.40 | 11.21 | Primarily due to increased product sales during the reporting period | | Operating Cost | 1,933,797,903.00 | 1,822,653,987.76 | 6.10 | Primarily due to increased product sales during the reporting period | | Selling Expenses | 12,097,186.81 | 8,830,727.28 | 36.99 | Primarily due to increased employee compensation during the reporting period | | Administrative Expenses | 65,416,761.14 | 83,589,252.82 | -21.74 | Primarily due to decreased downtime losses and repair costs during the reporting period | | Financial Expenses | 26,807,345.85 | 12,414,941.63 | 115.93 | Primarily due to decreased bank deposit interest income during the reporting period | | Income Tax Expense | 4,485,881.41 | -15,770,137.42 | 128.45 | Primarily due to increased deferred income tax expense during the reporting period | | Net Cash Flow from Operating Activities | -498,932,743.76 | -408,059,362.80 | -22.27 | Primarily due to decreased cash received from sales of goods and provision of services during the reporting period | | Net Cash Flow from Investing Activities | 289,960,607.28 | 83,971,238.90 | 245.31 | Primarily due to increased redemption of bank wealth management products compared to the prior year period | | Net Cash Flow from Financing Activities | 5,209,381.08 | 254,717,700.42 | -97.95 | Primarily due to decreased borrowed funds compared to the prior year period | | Net Increase in Cash and Cash Equivalents | -201,929,184.89 | -65,586,364.24 | -207.88 | Primarily due to net outflow from operating activities exceeding net inflow from investing and financing activities during the reporting period | 2025 Semi-Annual Products or Services Accounting for Over 10% of Revenue | Product or Service | Operating Revenue (yuan) | Operating Cost (yuan) | Gross Margin (%) | YoY Change in Operating Revenue (%) | YoY Change in Operating Cost (%) | YoY Change in Gross Margin (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Polyether Monomer | 1,110,672,967.42 | 1,076,064,079.94 | 3.12 | -7.49 | -11.68 | 4.60 | | Polyethylene Glycol | 351,098,423.19 | 288,807,887.27 | 17.74 | 48.40 | 47.78 | 0.34 | | Fatty Alcohol Ether | 238,597,992.53 | 232,742,288.57 | 2.45 | 77.02 | 71.59 | 3.09 | Analysis of Non-Core Business During the reporting period, non-core business significantly contributed to total profit, with investment income accounting for 52.47% (primarily from long-term equity investments and wealth management products, whose sustainability depends on the performance of associates and joint ventures), and non-operating income accounting for 173.97% (mainly from performance compensation and equity-for-debt from Shanghai Dongshuo, which is not sustainable); asset and credit impairments negatively impacted total profit, and other income, mainly government grants, is not sustainable 2025 Semi-Annual Non-Core Business Analysis | Item | Amount (yuan) | Proportion of Total Profit (%) | Explanation of Formation | Sustainability | | :--- | :--- | :--- | :--- | :--- | | Investment Income | 8,563,304.96 | 52.47 | Primarily from long-term equity investment income and wealth management product investment income | Depends on the performance of associates and joint ventures | | Gains/Losses from Changes in Fair Value | 204,851.49 | 1.26 | | No | | Asset Impairment | -8,422,827.90 | -51.61 | Primarily due to inventory write-downs | No | | Non-Operating Income | 28,390,399.18 | 173.97 | Primarily due to performance compensation and equity-for-debt received from Shanghai Dongshuo | No | | Non-Operating Expenses | 531,590.43 | 3.26 | | No | | Credit Impairment | -4,674,783.27 | -28.65 | Primarily due to increased provision for bad debts | No | | Other Income | 11,927,954.66 | 73.09 | Primarily due to government grants received | No | Analysis of Assets and Liabilities At the end of the reporting period, the company's total assets decreased by 4.70% year-on-year, and net assets attributable to shareholders decreased by 0.24%; monetary funds decreased due to reduced retained funds, while inventories and long-term equity investments increased; trading financial assets significantly decreased due to wealth management product redemptions, and accounts payable and notes payable decreased; the company has restricted assets including pledged land use rights, fixed assets, bank acceptance bills, letter of guarantee deposits, frozen litigation funds, and pledged notes 2025 Semi-Annual Significant Changes in Asset Composition | Item | End of Current Period Amount (yuan) | Proportion of Total Assets (%) | End of Prior Year Amount (yuan) | Proportion of Total Assets (%) | Change in Proportion (%) | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 460,598,300.61 | 8.44 | 606,177,019.26 | 10.59 | -2.15 | Primarily due to decreased retained funds at the end of the reporting period | | Inventories | 475,502,934.23 | 8.71 | 338,030,761.57 | 5.90 | 2.81 | Primarily due to increased inventory at the end of the reporting period | | Long-Term Equity Investments | 472,611,151.08 | 8.66 | 419,679,398.80 | 7.33 | 1.33 | Primarily due to new investments in Shanghai Dongshuo and Shaanxi Blue Valley during the reporting period | | Notes Receivable | 151,566,165.74 | 2.78 | 227,622,125.79 | 3.97 | -1.19 | Primarily due to decreased notes receivable endorsed or discounted and not yet due at the balance sheet date | | Trading Financial Assets | 4,372,335.01 | 0.08 | 327,349,654.52 | 5.72 | -5.64 | Primarily due to redemption of bank wealth management products at the end of the reporting period | | Accounts Receivable Financing | 325,943,300.73 | 5.97 | 235,083,431.66 | 4.11 | 1.86 | Primarily due to increased notes receivable held at the end of the reporting period | | Notes Payable | 0.00 | 0.00 | 58,750,000.00 | 1.03 | -1.03 | Primarily due to maturity and settlement of notes payable | | Accounts Payable | 90,630,744.32 | 1.66 | 159,000,124.14 | 2.78 | -1.12 | Primarily due to decreased raw material payables at the end of the reporting period | - The company reported no major overseas assets during the reporting period[70] - The company has restricted assets including pledged land use rights and fixed assets, bank acceptance bill and letter of guarantee deposits, frozen litigation funds, and pledged notes, totaling RMB 126.4615 million (deposits), RMB 6.0112 million (restricted funds), and RMB 144.423 million (pledged notes)[72][73][74] Analysis of Investment Status During the reporting period, the company's investment amount increased by 148.83% year-on-year, primarily due to new equity investments in Shanghai Dongshuo and Shaanxi Blue Valley, alongside ongoing expansion projects for ethylene oxide deep processing and tri(2-hydroxyethyl) isocyanurate; entrusted wealth management amounted to RMB 327.35 million, with an outstanding balance of RMB 4.1884 million at period-end; the company also engaged in hedging derivative investments, mainly forward foreign exchange and structured swaps, with overall controllable risk 2025 Semi-Annual Investment Amount Changes | Indicator | Investment Amount Current Period (yuan) | Investment Amount Prior Year Period (yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Investment Amount | 151,511,586.16 | 60,889,712.38 | 148.83 | - New equity investments were made in Shanghai Dongshuo Environmental Protection Technology Co., Ltd. and Shaanxi Blue Valley New Energy Technology Co., Ltd. during the reporting period[77][78] 2025 Semi-Annual Significant Non-Equity Investments in Progress | Project Name | Investment Method | Industry | Amount Invested Current Period (yuan) | Cumulative Actual Investment at Period-End (yuan) | Project Progress (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Phase II 150,000 tons/year Ethylene Oxide (Propylene Oxide) Deep Processing and Derivative New Materials Expansion Project | Self-built | Chemical | 1,969,958.23 | 10,427,398.93 | 44.37 | | Annual Production of 20,000 tons Tri(2-hydroxyethyl) Isocyanurate Project | Self-built | Chemical | 904,698.92 | 6,306,558.91 | 42.04 | 2025 Semi-Annual Overview of Entrusted Wealth Management | Specific Type | Source of Entrusted Funds | Amount of Entrusted Wealth Management (RMB 10,000) | Unexpired Balance (RMB 10,000) | | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Own Funds | 32,734.97 | 418.84 | - The company engages in derivative investments for hedging purposes, primarily forward foreign exchange and structured swaps, with overall controllable risk, achieving its hedging objectives[85][86] Significant Asset and Equity Disposals During the reporting period, the company did not undertake any significant asset or equity disposals - The company did not dispose of significant assets during the reporting period[89] - The company did not dispose of significant equity during the reporting period[90] Analysis of Major Holding and Associate Companies This section presents the financial data for the company's major holding and associate companies, including total assets, net assets, operating revenue, and net profit, highlighting Liaoning Oxirane Pharma Co., Ltd. with the highest net profit and Wuhan Jihechang New Materials Co., Ltd. with the highest operating revenue 2025 Semi-Annual Financial Data of Major Holding and Associate Companies | Company Name | Company Type | Registered Capital (yuan) | Total Assets (yuan) | Net Assets (yuan) | Operating Revenue (yuan) | Operating Profit (yuan) | Net Profit (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Liaoning Oxirane Pharma Co., Ltd. | Subsidiary | 66,000,000.00 | 226,121,147.01 | 125,837,859.85 | 110,874,050.63 | 30,545,204.20 | 25,305,057.62 | | Jiangsu Oxirane Chemical Co., Ltd. | Subsidiary | 429,000,000.00 | 2,143,538,505.20 | 812,330,624.79 | 709,092,755.40 | -43,045,615.54 | -36,555,786.03 | | Sichuan Oxirane Chemical Co., Ltd. | Subsidiary | 204,080,000.00 | 637,136,710.68 | 398,958,049.92 | 346,901,361.03 | 20,256,057.99 | 17,306,113.46 | | Suzhou Huayi New Energy Technology Co., Ltd. | Associate | 51,000,000.00 | 1,504,080,040.27 | 512,454,841.61 | 170,510,592.03 | -10,721,522.20 | -11,043,955.67 | | Wuhan Jihechang New Materials Co., Ltd. | Associate | 83,330,800.00 | 705,359,275.12 | 472,635,052.00 | 254,031,244.87 | 36,495,070.99 | 31,022,289.33 | - The company did not acquire or dispose of any subsidiaries during the reporting period[92] Information on Structured Entities Controlled by the Company During the reporting period, the company did not control any structured entities - The company reported no structured entities under its control during the reporting period[93] Risks Faced by the Company and Countermeasures The company faces multiple risks including safety and environmental protection, raw material price fluctuations, industry overcapacity, accounts receivable, investment, exchange rates, and raw material supply, which it actively addresses through enhanced management, optimized strategies, product upgrading, and diversified supply channels - Safety and Environmental Risks: The company strengthens occupational health, safety, and environmental system management, continuously investing resources and upgrading systems to achieve higher levels of inherent safety and cleaner production[93] - Raw Material Price Volatility Risk: The company addresses this by expanding ethylene procurement channels, strengthening strategic cooperation with international and domestic ethylene producers, and enhancing technical upgrades of existing production facilities[94] - Industry Capacity Risk: The company counters this by accelerating the expansion and process upgrading of existing production facilities, relying on technological innovation and supply adjustments for transformation, and moving towards differentiated, high-end products[95][96] - Accounts Receivable Risk: The company strengthens control through dedicated departments, conducts customer credit evaluations, strictly limits total receivables, and strives to increase cash sales proportion[97] - Investment Risk: The company will further improve its investment decision-making mechanism, strengthen post-investment management, increase talent reserves, and formulate corresponding risk response strategies[98] - Exchange Rate Risk: The company establishes and improves an exchange rate control mechanism, implements a foreign exchange hedging management system, and regularly analyzes exchange rate trends[99] - Raw Material Supply Risk: The company mitigates this by diversifying production base layouts, optimizing raw material procurement structures, and increasing the proportion of domestic ethylene raw material purchases to reduce single-supplier risk[100] Registration Form for Research, Communication, and Interview Activities During the Reporting Period During the reporting period, on May 13, 2025, the company participated in an online investor communication event to discuss its 2024 annual performance - On May 13, 2025, the company participated in an online investor communication event to discuss its 2024 annual performance and related matters[102] Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan During the reporting period, the company did not formulate a market value management system or disclose a valuation enhancement plan - The company has not formulated a market value management system[103] - The company has not disclosed a valuation enhancement plan[103] Implementation of the 'Dual Improvement in Quality and Returns' Action Plan During the reporting period, the company did not disclose an announcement regarding the "Dual Improvement in Quality and Returns" action plan - The company did not disclose an announcement regarding the "Dual Improvement in Quality and Returns" action plan[103] Part IV Corporate Governance, Environment, and Society This section details the company's corporate governance structure, environmental information disclosure, and social responsibility initiatives, including changes in key personnel, profit distribution plans, and employee incentive measures Changes in Directors, Supervisors, and Senior Management During the reporting period, there were no changes in the company's directors, supervisors, or senior management, with specific details available in the 2024 annual report - There were no changes in the company's directors, supervisors, or senior management during the reporting period[104] Profit Distribution and Capital Reserve Conversion to Share Capital During the Reporting Period The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for this semi-annual period - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the semi-annual period[105] Implementation of Company's Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures During the reporting period, the company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures in place or implemented - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures or their implementation during the reporting period[106] Environmental Information Disclosure The company and its nine major subsidiaries are listed as enterprises required to disclose environmental information by law, and they have publicly disclosed their environmental information reports, demonstrating the company's compliance with environmental protection regulations - The company and its 9 major subsidiaries are included in the list of enterprises required to disclose environmental information by law[107] - Each subsidiary has publicly disclosed its environmental information disclosure report on the designated website[107] Social Responsibility The company operates in compliance with laws and regulations, actively fulfilling its social responsibilities by safeguarding shareholder and creditor rights, ensuring equal employment and competitive compensation for employees, maintaining customer and supplier relationships, promoting green development, and engaging in public welfare initiatives like "Charity Day Donation" and establishing an education fund - The company strictly adheres to laws and regulations to improve its corporate governance structure, strengthen information disclosure, and protect shareholder rights, with no instances of controlling shareholders, actual controllers, or their related parties occupying company funds during the reporting period[109] - The company ensures equal employment and promotion opportunities, equal pay for equal work, and has no incidents of child labor or forced labor, while actively encouraging employment for people with disabilities[110] - The company adheres to a "customer-centric" approach, formulating a "Customer Complaint Management System" and focusing on maintaining friendly cooperative relationships with customers and suppliers[111][112] - The company deeply implements ecological civilization concepts, adheres to green environmental protection principles, strictly enforces environmental monitoring laws and regulations, and promotes green, high-quality development[113] - The company actively participates in social welfare initiatives, including annual "Charity Day Donation" activities and establishing a special fund with Nanjing Forestry University for the development of the fine chemical discipline in the School of Chemical Engineering[114] Part V Significant Matters This section details significant events, including commitments, related party transactions, litigation, and other important disclosures, providing insight into the company's operational and financial landscape Commitments from the Company's Actual Controller, Shareholders, Related Parties, Acquirers, and the Company, etc., that were Fulfilled or Overdue and Unfulfilled at the End of the Reporting Period During the reporting period, the company reported no commitments from its actual controller, shareholders, related parties, acquirers, or the company itself that were fulfilled or overdue and unfulfilled at the end of the reporting period - The company reported no commitments from its actual controller, shareholders, related parties, acquirers, or the company itself that were fulfilled or overdue and unfulfilled at the end of the reporting period[116] Non-Operating Funds Occupied by Controlling Shareholder and Other Related Parties During the reporting period, the company reported no non-operating funds occupied by its controlling shareholder or other related parties - The company reported no non-operating funds occupied by its controlling shareholder or other related parties during the reporting period[117] Irregular External Guarantees During the reporting period, the company had no irregular external guarantees - The company had no irregular external guarantees during the reporting period[118] Appointment and Dismissal of Accounting Firms The company's semi-annual report was not audited - The company's semi-annual report was not audited[119] Explanations from the Board of Directors, Board of Supervisors, and Audit Committee on the 'Non-Standard Audit Report' for the Current Period During the reporting period, the company had no non-standard audit report - The company had no non-standard audit report during the reporting period[120] Explanations from the Board of Directors on the 'Non-Standard Audit Report' for the Previous Year During the reporting period, the company had no non-standard audit report from the previous year - The company had no non-standard audit report from the previous year during the reporting period[120] Bankruptcy Reorganization Matters During the reporting period, the company did not experience any bankruptcy reorganization matters - The company did not experience any bankruptcy reorganization matters during the reporting period[120] Litigation Matters The company is involved in several significant litigation and arbitration matters, including an unresolved arbitration case with Sinopec Group Assets Management Co., Ltd. regarding investment funds, an ongoing lawsuit against Chengdu Jinshida High-Tech Co., Ltd. for impairment compensation, a completed performance compensation dispute with Shanghai Dongshuo Environmental Protection Technology Co., Ltd., and an appeal filed after losing a first-instance ruling in a sales contract dispute with Shanghai Keying Environmental Equipment Co., Ltd., in addition to other pending sales contract and labor disputes 2025 Semi-Annual Significant Litigation and Arbitration Matters | Basic Situation of Litigation (Arbitration) | Amount Involved (RMB 10,000) | Provision for Liabilities Formed | Progress of Litigation (Arbitration) | Outcome and Impact of Trial | Enforcement Status of Judgment | | :--- | :--- | :--- | :--- | :--- | :--- | | Arbitration with Sinopec Group Assets Management Co., Ltd. regarding cooperation investment dispute for Tianjin Polyether Project | 7,485.00 | No | The China International Economic and Trade Arbitration Commission heard the case on April 15, 2025, and has not yet rendered a decision | Not yet decided | | | Liaoning Oxirane Chemical Co., Ltd. sued Chengdu Jinshida High-Tech Co., Ltd. and Jiaye Petrochemical Co., Ltd. for impairment compensation regarding Sichuan Oxirane's solvent oil unit | 4,424.79 | No | The company, as plaintiff, has filed a lawsuit with the court, which is currently under trial | Not yet judged | | | Liaoning Oxirane Chemical Co., Ltd. v. Dongshuo Chen Yegang, Chen Manman for performance commitment compensation and equity impairment compensation dispute | 17,574.52 | No | The company won the case, and this enforcement has been terminated | Enforcement completed, RMB 28.3195 million in enforcement assets used to offset liquidated damages for equity impairment compensation | Enforcement concluded | | Shanghai Xipuo Import and Export Co., Ltd. v. Shanghai Keying Environmental Equipment Co., Ltd. for sales contract dispute | 956.2 | No | Lost in first instance, appeal accepted for second instance | All claims of Shanghai Xipuo Import and Export Co., Ltd. were rejected | Judgment not yet enforced | | Shanghai Keying Environmental Equipment Co., Ltd. v. Shanghai Xipuo Import and Export Co., Ltd. for sales contract dispute | 600.6 | No | First instance judgment rendered, appeal accepted for second instance | Ruled that Shanghai Xipuo Import and Export Co., Ltd. should continue to perform the contract and pay for goods and liquidated damages | Judgment not yet enforced | Penalties and Rectification During the reporting period, the company had no penalties or rectification situations - The company had no penalties or rectification situations during the reporting period[125] Integrity Status of the Company, its Controlling Shareholder, and Actual Controller During the reporting period, the company, its controlling shareholder, and actual controller maintained a good integrity status, with no instances of dishonesty - The company reported no integrity issues concerning itself, its controlling shareholder, or actual controller during the reporting period[126] Significant Related Party Transactions During the reporting period, the company engaged in multiple routine related party transactions involving the provision of services, sales of goods, and purchases of goods, all priced at market rates and within approved limits; on August 22, 2025, the company increased its daily related party transaction limits with Nanjing Yangzi Oxirane Chemical Co., Ltd., Shanghai Dongshuo Environmental Protection Technology Co., Ltd., and Shaanxi Blue Valley New Energy Technology Co., Ltd. and their subsidiaries 2025 Semi-Annual Related Party Transactions Related to Routine Operations | Related Party | Relationship | Type of Related Party Transaction | Content of Related Party Transaction | Amount of Related Party Transaction (RMB 10,000) | Proportion of Similar Transactions (%) | Approved Transaction Limit (RMB 10,000) | Exceeded Approved Limit | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Oxirane Holding Group Co., Ltd. and its subsidiaries | Controlling shareholder and its related parties | Provision of Services | Transportation service fees | 0.34 | 0.00 | 32 | No | | Oxirane Holding Group Co., Ltd. and its subsidiaries | Controlling shareholder and its related parties | Sale of Goods | COSMO NATE M 200, mixed alcohol | 612.52 | 0.30 | 2,012 | No | | Guangdong Demei Fine Chemical Group Co., Ltd. and its subsidiaries | Related party | Sale of Goods | Polyethylene glycol, O25 | 128.97 | 0.06 | 1,990 | No | | Suzhou Huayi New Energy Technology Co., Ltd. and its subsidiaries | Associate | Provision of Services | Labor fees | 11.5 | 0.01 | 30 | No | | CNBM Zhongyan Technology Co., Ltd. and its subsidiaries | Related party | Sale of Goods | Superplasticizer polyether monomer | 1,036.63 | 0.51 | 3,350 | No | | Wuhan Jihechang New Materials Co., Ltd. and its subsidiaries | Associate | Sale of Goods | XF-29 | 4.04 | 0.00 | 19 | No | | Wuhan Jihechang New Materials Co., Ltd. and its subsidiaries | Associate | Provision of Services | Meal expenses, utility services, Oxirane service fees | 40.57 | 0.02 | 90 | No | | Oxirane Holding Group Co., Ltd. and its subsidiaries | Controlling shareholder and its related parties | Acceptance of Services | Meal expenses, entertainment expenses, small labor protection | 348.57 | 0.18 | 1,450 | No | | Oxirane Holding Group Co., Ltd. and its subsidiaries | Controlling shareholder and its related parties | Purchase of Goods | RMB 185/galvanized drum, RMB 200/ton drum, RMB 550/company | 7.08 | 0.00 | 955 | No | | Wuhan Jihechang New Materials Co., Ltd. and its subsidiaries | Associate | Purchase of Goods | Isodecyl alcohol ethoxylate | 0.15 | 0.00 | 2 | No | | Nanjing Yangzi Oxirane Chemical Co., Ltd. | Related party | Provision of Services | Labor fees | 3.9 | 0.00 | 5 | No | | Shaanxi Blue Valley New Energy Technology Co., Ltd. and its subsidiaries | Related party | Sale of Goods | ES, processing fees | 23.64 | 0.01 | 2,000 | No | | Shanghai Dongshuo Environmental Protection Technology Co., Ltd. | Related party | Provision of Services | Labor fees | 52.05 | 0.03 | 60 | No | - On August 22, 2025, the company increased its daily related party transaction limits with Nanjing Yangzi Oxirane Chemical Co., Ltd., Shanghai Dongshuo Environmental Protection Technology Co., Ltd., and Shaanxi Blue Valley New Energy Technology Co., Ltd. and their subsidiaries, totaling RMB 20.65 million[130] Significant Contracts and Their Performance The company leases assets from the Huzhuang Village Committee in Chenji Town, Funing County, Yancheng City, Jiangsu Province, for a 25-year term expiring in 2039; the total guarantee amount for subsidiaries is RMB 1.256 billion, representing 45.67% of the company's net assets, with RMB 156.82 million provided for guaranteed entities with a debt-to-asset ratio exceeding 70%; there were no significant routine operating contracts during the reporting period - The company leases assets from the Huzhuang Village Committee in Chenji Town, Funing County, Yancheng City, Jiangsu Province, with a lease term of 25 years, expiring in 2039[139] 2025 Semi-Annual Company Guarantees for Subsidiaries | Name of Guaranteed Entity | Guarantee Limit (RMB 10,000) | Actual Guarantee Amount (RMB 10,000) | Type of Guarantee | Guarantee Period | Fulfilled | | :--- | :--- | :--- | :--- | :--- | :--- | | Jiangsu Oxirane Chemical Co., Ltd. | 195,200 | 25,000 | Joint and several liability guarantee | Three years after the maturity date of the debt under the main contract | No | | Jiangsu Oxirane Chemical Co., Ltd. | 195,200 | 35,000 | Joint and several liability guarantee | Three years from the day after the maturity date of the loan | Yes | | Jiangsu Oxirane Chemical Co., Ltd. | 195,200 | 35,000 | Joint and several liability guarantee | Three years from the day after the maturity date of the loan | No | | Jiangsu Oxirane Chemical Co., Ltd. | 195,200 | 20,000 | Joint and several liability guarantee | Three years from the maturity date of the debt | No | | Jiangsu Oxirane Chemical Co., Ltd. | 195,200 | 25,000 | Joint and several liability guarantee | Three years from the last maturity date of the principal debt under all main contracts (or the date of creditor's advance payment) | Yes | | Jiangsu Oxirane Chemical Co., Ltd. | 195,200 | 25,000 | Joint and several liability guarantee | Three years from the last maturity date of the principal debt under all main contracts (or the date of creditor's advance payment) | No | | Jiangsu Oxirane Chemical Co., Ltd. | 195,200 | 15,000 | Joint and several liability guarantee | The guarantee period for this debt is three years from the maturity date of the debt | Yes | | Jiangsu Oxirane Chemical Co., Ltd. | 195,200 | 10,000 | Joint and several liability guarantee | The guarantee period for this debt is three years from the maturity date of the debt | No | | Jiangsu Oxirane Chemical Co., Ltd. | 195,200 | 12,000 | Joint and several liability guarantee | Three years from the maturity date (including extension, deferral) of the debt under the main contract | Yes | | Jiangsu Oxirane Chemical Co., Ltd. | 195,200 | 12,000 | Joint and several liability guarantee | Three years from the maturity date (including extension, deferral) of the debt under the main contract | No | | Jiangsu Oxirane Chemical Co., Ltd. | 195,200 | 10,000 | Joint and several liability guarantee | Final maturity date under the credit contract and specific business contract | Yes | | Jiangsu Oxirane Chemical Co., Ltd. | 195,200 | 10,000 | Joint and several liability guarantee | Final maturity date under the credit contract and specific business contract | No | | Jiangsu Oxirane Chemical Co., Ltd. | 195,200 | 2,000 | Joint and several liability guarantee | Three years from the maturity date of the last debt | No | | Jiangsu Oxirane Chemical Co., Ltd. | 195,200 | 12,000 | Joint and several liability guarantee | Three years from the maturity date of the debt stipulated in the main contract | Yes | | Jiangsu Oxirane Chemical Co., Ltd. | 195,200 | 10,000 | Joint and several liability guarantee | Three years after the maturity date of the debt stipulated in the creditor's contract | Yes | | Jiangsu Oxirane Chemical Co., Ltd. | 195,200 | 10,000 | Joint and several liability guarantee | Three years after the maturity date of the debt stipulated in the creditor's contract | No | | Jiangsu Oxirane Chemical Co., Ltd. | 195,200 | 10,000 | Joint and several liability guarantee | Three years from the maturity date of the debt incurred each time the debtor uses the credit line under the main contract | No | | Jiangsu Oxirane Chemical Co., Ltd. | 195,200 | 10,000 | Joint and several liability guarantee | Three years from the maturity date of the debtor's performance of debt stipulated in the main contract | No | | Sichuan Oxirane Chemical Co., Ltd. | 34,000 | 11,000 | Joint and several liability guarantee | Three years from the maturity date of the debt stipulated in the specific business contract by the debtor | No | | Sichuan Oxirane Chemical Co., Ltd. | 34,000 | 5,000 | Joint and several liability guarantee | The guarantee period for this debt is three years from the maturity date of the debt | No | | Sichuan Oxirane Chemical Co., Ltd. | 34,000 | 1,000 | Joint and several liability guarantee | Three years from the maturity date of the debt under the main contract | No | | Liaoning Oxirane Pharma Co., Ltd. | 10,921 | 3,350 | Joint and several liability guarantee | Three years after the maturity date of the debt under the main contract | Yes | | Liaoning Oxirane Pharma Co., Ltd. | 10,921 | 3,350 | Joint and several liability guarantee | Three years after the maturity date of the debt under the main contract | No | | Liaoning Oxirane Pharma Co., Ltd. | 10,921 | 2,010 | Joint and several liability guarantee | Three years from the due date of each loan or other financing or the assignment date of accounts receivable by your bank, or the advance payment date of each advance | No | | Liaoning Oxirane Pharma Co., Ltd. | 10,921 | 871 | Joint and several liability guarantee | Three years from the day after the maturity date of the loan | No | | Liaoning Oxirane Pharma Co., Ltd. | 10,921 | 636.5 | Joint and several liability guarantee | The guarantee period for this debt is three years from the maturity date of the debt | No | | Hainan Oxirane Chemical Co., Ltd. | 55,800 | 30,000 | Joint and several liability guarantee | The guarantee period for this debt is three years from the maturity date of the debt | Yes | | Hainan Oxirane Chemical Co., Ltd. | 55,800 | 20,000 | Joint and several liability guarantee | The guarantee period for this debt is three years from the maturity date of the debt | No | | Hainan Oxirane Chemical Co., Ltd. | 55,800 | 18,000 | Joint and several liability guarantee | Three years from the maturity date of the debt under the main contract | No | | Wuhan Oxirane Chemical Co., Ltd. | 13,000 | 1,000 | Joint and several liability guarantee | Three years from the maturity date of the debt under the main contract | No | | Guangdong Oxirane Chemical Co., Ltd. | 21,000 | 0 | Joint and several liability guarantee | | | | Shanghai Xipuo Import and Export Co., Ltd. | 10,000 | 0 | Joint and several liability guarantee | | | - The company's total guarantee amount (total actual guarantee balance) is RMB 1.256 billion, accounting for 45.67% of the company's net assets[146] - Of this, the debt guarantee balance provided directly or indirectly for guaranteed entities with a debt-to-asset ratio exceeding 70% is RMB 156.82 million[146] Explanation of Other Significant Matters The company disclosed progress on several significant matters, including the Liaoyang Intermediate People's Court's ruling to transfer 32.7166% equity in Shanghai Dongshuo Environmental Protection Technology Co., Ltd. held by Chen Yegang to the company to offset debts, the company's lawsuit against Chengdu Jinshida High-Tech Co., Ltd. and Jiaye Petrochemical Co., Ltd. for unfulfilled impairment compensation obligations, and the ongoing arbitration case with Sinopec Group Assets Management Co., Ltd. regarding investment funds - The Liaoyang Intermediate People's Court in Liaoning Province ruled to transfer 32.7166% of the equity in Shanghai Dongshuo Environmental Protection Technology Co., Ltd. held by the执行人 Chen Yegang to the company to offset debts, and the case enforcement has been concluded[150] - The company filed a lawsuit against Chengdu Jinshida High-Tech Co., Ltd. and Jiaye Petrochemical Co., Ltd. for failing to fulfill their obligation to pay impairment compensation for the solvent oil unit to Sichuan Oxirane Chemical Co., Ltd.; the case has been accepted but not yet heard[151] - The arbitration case between the company and Sinopec Group Assets Management Co., Ltd. regarding investment funds was heard on April 15, 2025, and is currently awaiting a decision[151] Significant Matters of Company's Subsidiaries During the reporting period, there were no significant matters concerning the company's subsidiaries - The company reported no significant matters concerning its subsidiaries during the reporting period[152] Part VI Changes in Share Capital and Shareholder Information This section details changes in the company's share capital, information on securities issuance and listing, shareholder numbers, shareholding structures, and changes in holdings by directors, supervisors, and senior management Changes in Share Capital During the reporting period, there were no changes in the company's total share capital, restricted shares, or unrestricted shares, either in quantity or proportion 2025 Semi-Annual Changes in Share Capital | Share Type | Quantity Before Change (shares) | Proportion Before Change (%) | Increase/Decrease in This Change (shares) | Quantity After Change (shares) | Proportion After Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 1,890,237 | 0.26 | 0 | 1,890,237 | 0.26 | | Of which: Shares held by domestic natural persons | 1,890,237 | 0.26 | 0 | 1,890,237 | 0.26 | | II. Unrestricted Shares | 678,207,963 | 99.74 | 0 | 678,207,963 | 99.74 | | Of which: RMB ordinary shares | 678,207,963 | 99.74 | 0 | 678,207,963 | 99.74 | | III. Total Shares | 680,098,200 | 100.00 | 0 | 680,098,200 | 100.00 | - During the reporting period, there were no reasons, approvals, or transfer situations for share changes, nor any progress on share repurchases[156] Issuance and Listing of Securities During the reporting period, the company had no issuance or listing of securities - The company had no issuance or listing of securities during the reporting period[156] Number of Shareholders and Shareholding Information As of the end of the reporting period, the company had 35,553 ordinary shareholders; the controlling shareholder, Oxirane Holding Group Co., Ltd., held 52.89% of shares, making it the largest shareholder, with some of its shares pledged; other top ten shareholders each held less than 5%, and the company is unaware of any associated relationships or concerted actions among other shareholders - The total number of ordinary shareholders at the end of the reporting period was 35,553[157] 2025 Semi-Annual Shareholding of Shareholders Holding 5% or More or Top 10 Shareholders | Shareholder Name | Shareholder Nature | Shareholding Ratio (%) | Number of Shares Held at Period-End (shares) | Number of Restricted Shares Held (shares) | Number of Unrestricted Shares Held (shares) | Share Status | Quantity (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Oxirane Holding Group Co., Ltd. | Domestic non-state-owned legal person | 52.89 | 359,698,573.00 | 0 | 359,698,573.00 | Pledged | 75,024,092 | | Guangdong Demei Fine Chemical Group Co., Ltd. | Domestic non-state-owned legal person | 4.74 | 32,267,200.00 | 0 | 32,267,200.00 | Not applicable | 0 | | Zhu Xiangyang | Domestic natural person | 0.65 | 4,441,900.00 | 0 | 4,441,900.00 | Not applicable | 0 | | Yuan Zhonghua | Domestic natural person | 0.46 | 3,131,800.00 | 0 | 3,131,800.00 | Not applicable | 0 | | Wu Jianting | Domestic natural person | 0.26 | 1,752,400.00 | 0 | 1,752,400.00 | Not applicabl