3 6 Ke·2025-10-20 12:32Core Viewpoint - The incident at Chengxing Chemical was initially reported as an explosion but was later clarified to be a fire, with no casualties and an ongoing investigation into the cause [1][2]. Company Overview - Chengxing Co., Ltd. is a leading domestic phosphorus chemical enterprise, primarily engaged in the production of yellow phosphorus, phosphoric acid, and phosphate products [1]. - The company has phosphorus mining resources in Yunnan, ensuring its production needs [1]. Financial Performance - In the first half of 2025, Chengxing's revenue increased by 9.85% to 1.776 billion yuan, and the net profit attributable to shareholders rose by 211.08% to 18.56 million yuan, marking a turnaround from losses [2]. - The main products, yellow phosphorus and phosphoric acid, contributed significantly to the revenue, with yellow phosphorus production capacity at 160,000 tons per year, ranking among the top in the country [2]. Incident Details - The fire was caused by a yellow phosphorus tank truck leak, which ignited upon contact with air, but was fully extinguished without any injuries reported [2]. - The affected plant is scheduled for relocation, and the incident is not expected to have a significant impact on production [2]. Future Plans - Chengxing is planning to relocate its Jiangyin plant to the Jiangyin Lingang Chemical Park, where it will implement advanced production processes and equipment to enhance product competitiveness [2]. - The project has received the necessary investment project filing certificate and has initiated various assessments [2]. Stock Market Reaction - Following the incident, Chengxing's stock price experienced a decline, closing at 9.80 yuan per share, down 4.48% [3]. Ownership Changes - In 2022, the controlling shareholder of Chengxing changed from Chengxing Group to Wuxi Xingshengzhou Technology Partnership, with Li Xingxing becoming the new actual controller [3]. - Li Xingxing is the son of Li Shufu, chairman of Geely Holding Group, and has been involved in various business ventures with his father [3].