联化科技注销1145.99万股股份果断“瘦身”，股本精简迎发展新机

Core Viewpoint - The company has completed the cancellation of 11.4599 million shares, reducing its total share capital from 911 million to 899 million shares, which aims to enhance shareholder value and long-term investment potential [1][4] Group 1: Share Buyback and Cancellation - The share cancellation was a strategic decision made in October, shifting from an employee stock ownership plan to direct cancellation, reflecting the company's commitment to shareholder interests [1][3] - The company spent approximately 79.9967 million yuan on the repurchase, with an average price of 6.98 yuan per share, which will directly improve key financial metrics such as earnings per share [1][3] Group 2: Business Strategy and Acquisitions - The company has acquired a 20% stake in JunTai Pharmaceutical for 25 million yuan, achieving 100% ownership, which allows for better integration of resources in the pharmaceutical sector [2] - This acquisition aligns with the company's strategy to strengthen its position in the pharmaceutical and chemical industry, laying a solid foundation for long-term growth [2] Group 3: Industry Context and Future Outlook - The Ministry of Industry and Information Technology has set a target for the petrochemical industry to achieve an average annual growth of over 5% from 2025 to 2026, emphasizing supply-side structural reforms [2] - The company is well-positioned to benefit from industry consolidation and policy improvements, particularly in the pharmaceutical CDMO sector, which is expected to gain market share amid industry changes [3][4]