General Provisions - The company aims to protect the legal rights of shareholders and creditors, and to regulate its organization and behavior according to relevant laws and regulations [2][3] - The company is established as a joint-stock limited company in accordance with the Company Law of the People's Republic of China [2][3] - The company was approved by the China Securities Regulatory Commission for its initial public offering of 30.105 million shares on January 2, 2014, with 21.6132 million new shares and 8.4918 million shares transferred from existing shareholders [4][5] Company Structure and Capital - The registered name of the company is Guangzhou Tinci Materials Technology Co., Ltd, with a registered capital of an unspecified amount [3][4] - The company is a permanent joint-stock limited company, and its assets are divided into equal shares, with shareholders bearing liability limited to their subscribed shares [4][5] - The company can issue both ordinary and preferred shares, with each share having a par value of RMB 1 [6][7] Business Objectives and Scope - The company's business objective is to focus on the research and production of high-tech material technology products, aiming to create maximum economic benefits for all shareholders [5][6] - The main business activities include the processing of non-edible vegetable oils, manufacturing of basic chemical raw materials, dyes, synthetic materials, and various chemical products [5][6] Shareholder Rights and Responsibilities - Shareholders have rights to dividends, participate in shareholder meetings, supervise company operations, and transfer their shares [13][14] - Shareholders are obligated to comply with laws and regulations, pay for their subscribed shares, and not abuse their rights to harm the company or other shareholders [16][17] Shareholder Meetings - The company holds annual and temporary shareholder meetings, with the annual meeting required to be held within six months after the end of the previous fiscal year [24][25] - Shareholder meetings can be conducted both in-person and online, providing convenience for participation [25][26] - Proposals for shareholder meetings must be within the scope of the meeting's authority and must be clearly defined [29][30] Financial and Operational Governance - The company must obtain shareholder approval for significant financial decisions, including external guarantees and major asset purchases exceeding 30% of the latest audited total assets [23][24] - The company is required to maintain financial independence from its controlling shareholders and must not engage in transactions that could harm the interests of the company or its shareholders [41][42]

证券代码：603078 证券简称：江化微 公告编号：2025-022 江阴江化微电子材料股份有限公司 关于为子公司提供担保的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 企业名称：江化微（镇江）电子材料有限公司 ? 被担保人名称：江化微（镇江）电子材料有限公司（以下简称"镇江江 化微"）。本次担保不存在关联担保。 ? 本次担保金额及已实际为其提供的担保余额：江阴江化微电子材料股份 有限公司（以下简称"公司"或"江阴江化微"）本次为全资子公司镇江江化微 提供不超过人民币 47,000.00 万元担保（不涉及新增担保额度，为置换前次担保）； 截至本公告披露日，除本次担保外，公司已实际为镇江江化微提供的担保余额为 ? 本次担保是否有反担保：否 ? 对外担保逾期的累计数量：无。 一、本次担保概述 鉴于镇江江化微二期项目建设需要，经公司第五届董事会第六次会议和 2023 年第二次临时股东大会审议批准，公司为镇江江化微最高不超过人民币 47,000 万元的固定资产类进口贷款提供连带责任保证担保。具体内容详见公司 ...

证券研究报告 | 行业点评报告 2025 年 06 月 23 日 地缘冲突升级，原油价格持续攀升 招商化工行业周报 2025 年 6 月第 4 周 周期/化工 本报告阐述了基础化工板块一周行情走势、产品价格及价差变化、重点推荐子 行业及公司。 板块整体走势 6 月第 4 周化工板块（申万）下跌 2.49%，上证 A 指下跌 0.51%，板块落后 大盘 1.98 个百分点。涨幅排名前 5 的个股分别为：科恒股份（+30.3%），金 牛化工（+27.43%），强力新材（+21.76%），湘潭电化（+18.51%），丰元 股份（+13.92%）；跌幅排名前 5 的个股分别为：嘉澳环保（-16.92%），红 太阳（-14.52%），华阳新材（-12.12%），利民股份（-11.68%），尤夫股 份（-10.9%）。此外，本周化工板块（申万）动态 PE 为 24.02 倍，低于 2015 年来的平均 PE 11.88%。 细分子行业走势 6 月第 4 周化工行业 5 个子行业上涨，26 个子行业下跌。上涨子行业前五是： 石油贸易（+7.24%），无机盐（+4.2%），玻纤（+3.54%），其他化学原料 （+1.85%） ...

证券代码：002360 证券简称：同德化工 公告编号：2025-052 山西同德化工股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 截至本公告披露日，公司及子公司提供担保总额为 148,198.28 万元，占公 司最近一期经审计净资产的 74.22%；同时，本次被担保对象之一深圳市同德通 供应链管理有限公司最近一期资产负债率超过 70%。敬请广大投资者充分关注担 保风险。 一、担保情况概述 山西同德化工股份有限公司（以下简称"公司"或"同德化工"）分别于 年年度股东大会审议通过了《关于公司为全资及控股子公司提供担保的议案》， 同意公司为全资及控股子公司提供担保总额合计不超过 30 亿元。具体内容详见 公司于 2025 年 4 月 30 日披露的《关于公司为全资及控股子公司提供担保的补充 公告 》（公告编号：2025-036）等相关公告。 二、担保进展情况 （一）担保事项一 近日，公司全资子公司山西同德爆破工程有限责任公司（以下简称"同德爆 破"）、山西同德科创材料有限公司（以下简称"同德科创"）与中国邮政储蓄 银行股份有限公司山西省忻 ...

证券研究报告·宏观报告·宏观深度报告 宏观深度报告 20250618 如何高频跟踪出口形势变化——兼论后续出 口走势展望 ◼ 如何高频跟踪我国出口的变化 2025 年 06 月 18 日 证券分析师 芦哲 执业证书：S0600524110003 luzhe@dwzq.com.cn 证券分析师 李昌萌 执业证书：S0600524120007 lichm@dwzq.com.cn 相关研究 《经济叙事的三重分化——5 月经济 数据点评》 2025-06-16 《工业生产淡季不弱，"抢出口"有所 放缓》 2025-06-15 东吴证券研究所 1 / 17 请务必阅读正文之后的免责声明部分 [Table_Tag] [Table_Summary] ◼ 特朗普上任以来我国出口的两点变化：在特朗普政上任以来，我国出口 发生了两方面变化，一是出口结构进一步调整，二是出口占全球份额再 度回升。 ➢ 其一，从出口结构来看，我国对美出口占比进一步回落，对东盟、非洲 等地区出口占比明显提升，而对欧盟出口占比也在连续两年回落后有所 反弹。特别是在 4 月对等关税落地后，我国 4-5 月份对美累计出口占比 仅有 9.8%，对欧盟和东盟累计 ...

2025年 发膜行业词条报告 国标分类/制造业/化学原料和化学制品制造业/日用化学产 品制造/其他日用化学产品制造 Copyright © 2025 头豹 发膜：生物成分滋养，重现发丝绸缎光泽 头豹词条报告系列 饶立杰 · 头豹分析师 2025-05-19 未经平台授权，禁止转载 行业分类： 制造业/其他日用化学产品制造 摘要 发膜是一种滋润头发的护理产品，通常含有丰富的营养成分，如蛋白质、氨基酸、维生素、矿物质和天然油脂等。这些成分能够深入头发的内部结构，对头发进行深层护 理。当前，发膜市场规模持续扩大，尤其在亚洲、欧洲和北美等发达地区，高品质发膜产品的接受度不断提升。国际知名品牌凭借其强大的品牌影响力、先进的产品研发能 力及广泛的市场渠道，在全球市场占据重要份额。与此同时，本土品牌也通过不断创新和市场拓展，逐步提升自身竞争力。随着消费者对头发健康和护理的关注度日益增 加，他们对发膜产品的需求也在不断升级，推动了市场的快速发展。 行业定义 发膜是一种滋润头发的护理产品，通常含有丰富的营养成分，如蛋白质、氨基酸、维生素、矿物质和天然油脂等。这些成分能够深入头发的 内部结构，对头发进行深层护理。当前市场中，发膜 ...

年 /其他日用化学产品制造 Copyright © 2025 头豹 / / / 力及广泛的市场渠道，在全球市场占据重要份额。与此同时，本土品牌也通过不断创新和市场拓展，逐步提升自身竞争力。随着消费者对头发健康和护理的关注度日益增 加，他们对发膜产品的需求也在不断升级，推动了市场的快速发展。 发膜：生物成分滋养，重现发丝绸缎光泽 头豹词条报告系列 饶立杰 · 头豹分析师 2025-05-19 未经平台授权，禁止转载 行业分类： 制造业/其他日用化学产品制造 摘要 发膜是一种滋润头发的护理产品，通常含有丰富的营养成分，如蛋白质、氨基酸、维生素、矿物质和天然油脂等。这些成分能够深入头发的内部结构，对头发进行深层护 理。当前，发膜市场规模持续扩大，尤其在亚洲、欧洲和北美等发达地区，高品质发膜产品的接受度不断提升。国际知名品牌凭借其强大的品牌影响力、先进的产品研发能 发膜是一种滋润头发的护理产品，通常含有丰富的营养成分，如蛋白质、氨基酸、维生素、矿物质和天然油脂等。这些成分能够深入头发的 内部结构，对头发进行深层护理。当前市场中，发膜行业正经历快速增长，尤以亚太地区为甚，这归因于消费者对个人护理产品需求的提升及对 高品 ...

Ecolab (ECL) FY Conference Summary Company Overview - Ecolab is a leading provider of chemical-based solutions for institutional and industrial end markets, with a strong focus on water-related services and technologies [2][10][11] - The company has been in business for over 102 years and has a strong balance sheet, positioning itself well for growth [5][6] Financial Performance - Ecolab's stock has been on an upward trajectory since late 2022, attributed to successful navigation through product cost inflation and strong customer relationships [2][3] - The company aims for a long-term target of 20% operating income margin by 2027, with an expected margin of 18% in 2025, reflecting a 150 basis points improvement from the previous year [14][15] - Financial targets include 5% to 7% top-line growth and 12% to 15% earnings per share growth [17] Market Position and Opportunities - Ecolab serves over 1 million customers in 172 countries across 40 different industries, with 90% of sales being recurring [12][13] - The company is positioned as a leader in a fragmented global market, with no direct competitors offering the same breadth of services [20] - Ecolab's market opportunity is estimated at EUR 152 billion, with a penetration opportunity of EUR 55 billion [32] Growth Strategies - Ecolab is focusing on several key growth areas, including: - **Global High-Tech Business**: Targeting data centers and microelectronics manufacturers, with a market opportunity exceeding EUR 5 billion [32][33] - **Life Sciences**: A growing segment with a current business of CHF 300 million and a 30% margin, focusing on safe drug production [39][40] - **Ecolab Digital**: Transitioning to a subscription model for digital services, with an annualized sales figure of EUR 320 million and a growth rate of 12% [42][43] Technological Innovations - Ecolab has invested significantly in R&D, with 3,000 employees dedicated to developing breakthrough technologies [8][21] - Innovations include: - Water-free cooling technologies for data centers, reducing energy consumption [22][36] - Advanced water recycling systems for semiconductor manufacturing [37] - Digital monitoring systems for hotels and restaurants, enhancing operational efficiency and guest satisfaction [54][55] Environmental and Social Impact - Ecolab's ambition by 2030 is to protect 2 billion people from infection and provide enough water for 1 billion people [7][44] - The company emphasizes sustainability, aiming for net-zero water usage and reducing environmental impact through its services [11][19] Customer Relationships and Value Proposition - Ecolab's value proposition focuses on helping customers improve operational efficiency while reducing costs and environmental impact [21][27] - The company has a strong emphasis on customer satisfaction, with digital solutions enhancing service delivery and operational performance [55][59] Conclusion - Ecolab is well-positioned for future growth, leveraging its technological innovations, strong market presence, and commitment to sustainability to drive financial performance and customer satisfaction [45][46]

General Provisions - The company is established as a joint-stock limited company in accordance with the Company Law and other relevant regulations [3] - The registered capital of the company is RMB 112,770,840 [3] - The company is permanently established and will continue to exist [3] Legal Representative - The legal representative of the company is the general manager, who is responsible for executing company affairs [3][4] - The company will determine a new legal representative within 30 days of the resignation of the current one [2] Share Issuance and Capital Structure - The company issued 20.2 million shares to the public on June 22, 2022, and is listed on the Shenzhen Stock Exchange [3] - The company has a total of 112,770,840 shares, all of which are ordinary shares [6] - The shares are issued based on the principles of openness, fairness, and justice, with equal rights for each share of the same category [5] Business Objectives and Scope - The company's business objectives include utilizing the advantages of a joint-stock system to enhance competitiveness and create substantial returns for shareholders [7] - The business scope includes manufacturing and sales of daily chemical products, food additives, and non-residential real estate leasing, among others [7] Shareholder Rights and Responsibilities - Shareholders have the right to request the board of directors to execute decisions within 30 days [12] - Shareholders can sue the company or its directors for violations of rights and obligations as stipulated in the articles of association [4][12] - Shareholders are obligated to comply with laws and regulations and cannot withdraw their capital except as legally permitted [22] Share Transfer and Trading - Shares must be transferred in accordance with the law, and the company does not accept its own shares as collateral [14] - Directors and senior management must declare their shareholdings and are restricted in transferring shares during their tenure [11] Shareholder Meetings - The company holds annual shareholder meetings within six months after the end of the previous fiscal year [33] - Shareholders holding more than 10% of shares can request a temporary shareholder meeting [56] - The company must provide adequate notice of meetings, including time, place, and agenda [38] Decision-Making and Voting - Ordinary resolutions require a simple majority, while special resolutions require at least two-thirds approval from attending shareholders [48] - The company must ensure that voting rights are exercised fairly, especially for minority shareholders [49] Financial Management and Auditing - The company must maintain transparency in financial dealings and provide necessary conditions for the activities of the Communist Party organization within the company [4] - The board of directors is responsible for ensuring compliance with legal and regulatory requirements in financial reporting [18]

证券代码：300121 证券简称：阳谷华泰 公告编号：2025-070 债券代码：123211 债券简称：阳谷转债 山东阳谷华泰化工股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 山东阳谷华泰化工股份有限公司（以下简称"公司"）于 2025 年 4 月 22 日 召开 2024 年年度股东大会审议通过了《关于变更公司注册资本、修订 <公司章程> 并办理工商变更登记的议案》。根据中国证券监督管理委员会《关于同意山东阳 谷华泰化工股份有限公司向不特定对象发行可转换公司债券注册的批复》（证监 许可〔2023〕1091 号），公司向不特定对象发行 6,500,000 张可转换公司债券， 每张面值为 100 元，募集资金总额人民币 650,000,000.00 元。根据相关规定和 《山东阳谷华泰化工股份有限公司向不特定对象发行可转换公司债券募集说明 书》约定，公司本次发行的可转换公司债券自 2024 年 2 月 2 日起开始转股。2024 年 3 月 19 日至 2025 年 3 月 26 日，公司可转债累计转股 35,536,359 股，公司总 股本增加 ...