转型未果 终止重大资产重组！下周一复牌

Core Viewpoint - Bohai Chemical announced the termination of its major asset restructuring plan, which involved the sale of 100% equity in Bohai Petrochemical and the acquisition of control over Taida New Materials, due to a lack of consensus on key terms among the parties involved [2][3] Group 1: Restructuring Details - The restructuring plan began on December 5, 2025, with Bohai Chemical signing a letter of intent with its controlling shareholder Bohua Group and Taida New Materials [3] - The transaction consisted of two parts: selling 100% equity of Bohai Petrochemical to Bohua Group and acquiring control of Taida New Materials through share issuance and cash payments [3] - The decision to terminate the restructuring was made to protect the interests of the company and its investors, as the parties could not reach an agreement on core terms [3] Group 2: Financial Performance and Challenges - Bohai Chemical has been facing dual pressure from supply and demand, leading to continuous losses in its propane dehydrogenation (PDH) business [5][6] - The company reported a revenue of 2.809 billion yuan for the first three quarters of 2025, a year-on-year decrease of 16.82%, with a net loss of 579 million yuan, which has worsened compared to the previous year [6] - The PDH industry is experiencing structural overcapacity, resulting in ongoing profitability challenges for Bohai Chemical [6]