CXPC(SH:600078) Nan Fang Du Shi Bao·2025-10-21 04:45Core Viewpoint - A minor incident involving a yellow phosphorus leak and self-ignition occurred at the factory of Chengxing Co., Ltd., but it is not expected to significantly impact the company's production due to planned relocation of the facility [2][5]. Group 1: Incident Details - On October 20, 2025, a yellow phosphorus leak occurred at the Chengxing Co., Ltd. factory, with a fire reported at 11:57 AM and extinguished by 12:48 PM, affecting an area of 8 square meters with no casualties [2]. - The factory is scheduled for relocation, and the incident is not anticipated to have a major impact on production [2][5]. Group 2: Relocation Plans - Chengxing Co., Ltd. has been actively planning the relocation of its factory, with agreements signed with local authorities for compensation since 2020 [5]. - As of August 8, 2025, the company has received 374 million yuan in relocation compensation [5]. - The existing products from the Jiangyin factory will be moved to the Jiangyin Lingang Chemical Park for production [5]. Group 3: Company Overview - Chengxing Co., Ltd. is a leading player in the phosphorus chemical industry, with a complete industrial chain from phosphate rock to yellow phosphorus and phosphoric acid [6]. - The company has an annual production capacity of 160,000 tons of yellow phosphorus, ranking among the top in the country [6]. - Phosphoric acid produced by the company is a crucial intermediate used in various industries, including pharmaceuticals and electronics [6]. Group 4: Financial Performance - Since the new controlling shareholder, Li Xingxing, took over in November 2022, the company's financial performance has not improved significantly, with revenues of 4.538 billion yuan in 2022, 3.101 billion yuan in 2023, and 3.356 billion yuan in 2024 [7]. - The company reported a net profit of 279 million yuan in 2022, but losses of 97 million yuan and 207 million yuan in 2023 and 2024, respectively [7]. Group 5: Incentive Plans - In July 2025, Chengxing Co., Ltd. announced a stock incentive plan to grant 20 million restricted shares to 86 individuals, representing 3.02% of the total share capital [8]. - The incentive plan requires the company to achieve specific revenue and net profit targets for 2025, 2026, and 2027 to unlock the full incentive [8].