Core Viewpoint - Zhongyan Chemical (600328) announced that its associate company, Zhongyan Bicarbonate Co., Ltd., signed a mining rights transfer contract with the Tongliao Natural Resources Bureau to acquire the natural soda mining rights in the Nai Manqi Da Qin Ta La area for 6.809 billion yuan [1] Group 1 - The mining rights cover an area of 28.85 square kilometers and the extraction method will be underground [1] - The contract has an initial registration period of 30 years [1] - Zhongyan Bicarbonate is required to pay the transaction price within 30 days of receiving the payment notice and will pay an annual transfer income of 2.9% of sales revenue [1] Group 2 - Zhongyan Chemical's major asset restructuring is progressing as planned [1]

证券代码：301300 证券简称：远翔新材 公告编号：2025-027 福建远翔新材料股份有限公司 关于 2023 年限制性股票激励计划第二个归属期 第一批次归属结果暨股份上市的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完 整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 为 0.54%。 福建远翔新材料股份有限公司（以下简称"公司"或"远翔新材"） 于 2025 年 6 月 10 日召开第四届董事会第四次会议和第四届监事会第 四次会议，审议通过了《关于 2023 年限制性股票激励计划第二个归 属期归属条件成就的议案》，近日，公司办理了关于公司 2023 年限 制性股票激励计划第二个归属期第一批次归属股份的登记工作，现将 有关事项说明如下： 一、股权激励计划简述及已履行的相关审批程序 （一）限制性股票激励计划简述 通过了《关于 <福建远翔新材料股份有限公司 ensp="ensp" 年限制性股票激励="年限制性股票激 励"> 事会秘书 小计 68.50 52.69% 1.07% 计划（草案）>及其摘要的议案》等相关议案，公司 2023 年限制性股 票激励计划的主要内容如下： （A 股）股 ...

Group 1 - PVC futures main contract experienced fluctuations, reaching a peak of 4930.00 yuan, closing at 4920.00 yuan with a 0.70% increase [1] - Institutions predict PVC prices will remain weak due to increased supply and low demand, with expectations of low-level fluctuations [1][2] - The supply side is pressured by new production capacities from companies like Wanhua Chemical and Tianjin Bohua, while demand remains sluggish, particularly in the real estate sector [1][2] Group 2 - The Indian PVC BIS policy has been postponed for another six months, which may positively impact future PVC exports [2] - The market anticipates an improvement in the oversupply situation due to the impact of anti-involution policies and sentiment in the building materials sector [2] - The expected trading range for the PVC 2509 contract is between 4800 and 5100 yuan, indicating low-level fluctuations [2]

1. Report Industry Investment Rating No relevant content found. 2. Core Viewpoints of the Report - China has become the world's largest propylene consumption market, with strong growth in domestic propylene demand in the past, but the demand has slowed down in recent years due to the slowdown of high - speed expansion of downstream product capacities. In 2024, China's propylene consumption and apparent consumption were about 55 million tons per year [11]. - Polypropylene is the main downstream product of propylene, but its consumption proportion has decreased slightly in recent years, while the proportion of other downstream products has increased slightly, showing a trend of diversified development of propylene downstream consumption [15][17]. 3. Summary According to the Directory 3.1 Propylene Downstream Demand Situation - From 2015 to 2024, the average annual propylene consumption growth rate was 7.7%, and the average annual apparent consumption growth rate was 10.5%. The consumption growth rate reached a high of 13.7% in 2021, and the apparent consumption growth rate peak was 13.5% in 2016 [11]. - In 2024, in the propylene downstream consumption structure, PP (including granules and powders) accounted for 68% (62% for PP granules and 6% for PP powders), followed by propylene oxide (8%), acrylonitrile (6%), and phenol - acetone (5%) [14]. 3.2 Propylene Downstream Demand: Polypropylene 3.2.1 Polypropylene Overview - Polypropylene is a thermoplastic made by polymerizing propylene monomers, with characteristics such as light weight, high melting point, corrosion resistance, and easy processing. It can be divided into oil - based, coal - based, and propane dehydrogenation (PDH) - based PP according to different raw materials, and into granules and powders according to different forms [18]. 3.2.2 Polypropylene Capacity Pattern - By 2024, China's PP capacity exceeded 50 million tons per year, accounting for about 50% of the world's total capacity, ranking first in the world. The capacity growth rate has been over 10% in recent years. PP granules accounted for 84% of the capacity, and PP powders accounted for 16%, with the powder capacity shrinking due to environmental protection requirements [21]. - With the continuous commissioning of PP capacity in recent years, production profits have fluctuated around the break - even point or maintained a small profit, and capacity utilization has reached a record low [24]. 3.3 Propylene Downstream Demand: Propylene Oxide 3.3.1 Propylene Oxide Overview - Propylene oxide is a colorless, flammable liquid mainly used to synthesize polyether polyols and then manufacture polyurethanes. The mainstream production processes are HPPO and co - oxidation methods, while the chlorohydrin method is being phased out due to environmental pressure [31][34]. 3.3.2 Propylene Oxide Capacity Pattern - In 2024, China's propylene oxide capacity exceeded 7 million tons per year, accounting for over 40% of the world's total capacity, ranking first in the world. The capacity growth rate slowed down to 16% in 2024. Capacity utilization has gradually decreased since 2021, and production profits have shown a downward trend, with long - term losses in 2025 [35][37]. 3.4 Propylene Downstream Demand: n - Butanol 3.4.1 n - Butanol Overview - n - Butanol is a colorless, transparent liquid mainly used as a solvent and chemical intermediate. The mainstream production route is the propylene carbonyl synthesis method [41][42]. 3.4.2 n - Butanol Capacity Pattern - In 2024, China's n - butanol capacity was 3.8 million tons per year, being the world's largest producer. After some backward - process capacities were eliminated, the capacity grew again in 2022 with a growth rate of 17%. Currently, the propylene carbonyl synthesis method is mainly used. External demand is good, production has increased, capacity utilization has improved, but profits have decreased significantly compared with the past two years [43][45]. 3.5 Propylene Downstream Demand: Octanol 3.5.1 Octanol Overview - Octanol is a colorless, oily liquid mainly used as a raw material for plasticizers. Its production process is the propylene carbonyl synthesis method [50]. 3.5.2 Octanol Capacity Pattern - In 2024, China's octanol capacity was 3.3 million tons per year, ranking first in the world. The capacity growth rate increased significantly to 33% in 2024. Capacity utilization has been high, but production profits have declined rapidly with the commissioning of new plants in 2024 [51][56]. 3.6 Propylene Downstream Demand: Acrylic Acid 3.6.1 Acrylic Acid Overview - Acrylic acid is a colorless, pungent liquid mainly used to synthesize acrylates. The mainstream production route is the two - step oxidation of propylene [58][61]. 3.6.2 Acrylic Acid Capacity Pattern - In 2024, China's acrylic acid capacity exceeded 4 million tons per year, ranking first in the world. The capacity growth restarted in 2020, with a growth rate of 14% in 2022. Capacity utilization has been between 70% - 80%, and production profits have recovered this year [62][65]. 3.7 Propylene Downstream Demand: Acrylonitrile 3.7.1 Acrylonitrile Overview - Acrylonitrile is a colorless, flammable liquid mainly used in synthetic fibers and some fine chemicals. The mainstream production route is the propylene ammoxidation method [71][72]. 3.7.2 Acrylonitrile Capacity Pattern - In 2024, China's acrylonitrile capacity was about 4.4 million tons per year. The average annual capacity growth rate from 2019 to 2023 was over 15%. Capacity utilization has decreased after the commissioning of new capacities, and production profits have been in a loss state for a long time [73][78]. 3.8 Propylene Downstream Demand: Phenol 3.8.1 Phenol Overview - Phenol is a colorless crystal or white molten solid mainly used to produce bisphenol A. The mainstream production route is the cumene method, which co - produces acetone [81]. 3.8.2 Phenol Capacity Pattern - In 2024, China's phenol capacity was about 6.4 million tons per year, with an average capacity growth rate of 30% in the past three years. Capacity utilization has been around 80%, but the production profit of phenol - acetone has been in a loss state for a long time [82][86]. 3.9 Propylene Downstream Demand: Acetone 3.9.1 Acetone Overview - Acetone is a colorless, transparent liquid mainly used as a solvent and chemical intermediate. It is a by - product of phenol production through the cumene method [89][91]. 3.9.2 Acetone Capacity Pattern - In 2024, China's acetone capacity was about 4 million tons per year, with an average capacity growth rate of 30% in the past three years, and the output has been increasing year by year [92]. 3.10 Propylene Downstream Demand: Epichlorohydrin 3.10.1 Epichlorohydrin Overview - Epichlorohydrin is a colorless, flammable liquid mainly used to produce epoxy resins. The production route that requires propylene is the high - temperature propylene chlorination method, which is being replaced by the glycerol method [96]. 3.10.2 Epichlorohydrin Capacity Pattern - In 2024, China's epichlorohydrin capacity exceeded 2.1 million tons per year, ranking first in the world. The capacity growth rate in the past three years was 20%. The glycerol method capacity accounts for a large proportion and is the main new - added direction. Capacity utilization is relatively low, and production profits have recovered in recent years [97][99].

Core Viewpoint - China Petrochemical Corporation (Sinopec) has achieved a significant breakthrough in the development of a fluidized bed hydrogen peroxide production technology, breaking the long-standing foreign monopoly and providing technological support for the upgrade of domestic hydrogen peroxide production technology [1][3]. Group 1: Technology Development - The newly developed fluidized bed hydrogen peroxide production technology has been in development for 15 years, resulting in 72 Chinese invention patents and 1 PCT international patent [3]. - The technology integrates multiple innovations, including three types of catalysts, three process enhancements, and two new reactions, significantly improving production efficiency and enabling large-scale production [3][4]. Group 2: Market Position and Production Capacity - In 2022, China accounted for over 50% of the global hydrogen peroxide market share, with an annual production capacity of 24 million tons, although the production process primarily relied on outdated fixed bed technology [3]. - The first domestic industrial production unit using Sinopec's fluidized bed technology was established in Hunan in 2018, with a capacity of 72,000 tons per year, outperforming domestic technology standards [4]. Group 3: Future Prospects and Economic Impact - The fluidized bed technology is expected to address essential safety issues in hydrogen peroxide production and has been recognized for its industry promotion value [4]. - In 2024, Hunan Petrochemical is projected to produce a total of 585,000 tons of hydrogen peroxide, with significant reductions in comprehensive energy consumption compared to the previous year [4].

Core Viewpoint - Guangzhou Tinci Materials Technology Co., Ltd. has completed the registration change of its capital and the amendment of its articles of association, reflecting a registered capital of 1,914.344077 million RMB [2][3]. Group 1 - The company held its 31st meeting of the 6th Board of Directors on April 11, 2025, where the proposal for changing the registered capital and amending the articles of association was approved [2]. - The proposal was subsequently approved at the 2024 annual general meeting held on May 8, 2025 [2]. - The company has completed the necessary business registration changes and obtained a new business license from the Guangzhou Market Supervision Administration [2]. Group 2 - The latest registered capital of the company is 1,914.344077 million RMB [2]. - The company operates in various sectors including manufacturing of basic chemical raw materials, synthetic materials, battery manufacturing, and environmental materials [2]. - The company is located in Huangpu District, Guangzhou, and was established on June 6, 2000 [2].

Core Points - The company announced a cash dividend distribution for A and B shareholders, with A shares receiving a cash dividend of 0.18 RMB per share and B shares receiving 0.025046 USD per share [1] - The dividend distribution plan was approved at the annual shareholders' meeting held on May 30, 2025 [1] Dividend Distribution Details - A shares will have a record date of July 14, 2025, with the ex-dividend date on July 15, 2025, and payment on the same day [1] - B shares will have a record date of July 17, 2025, the last trading day on July 14, 2025, and payment on July 24, 2025 [1] - The total cash dividend to be distributed amounts to 382,109,630.40 RMB based on a total share capital of 2,122,831,280 shares [1] Taxation Policies - For A share individual shareholders, dividends are subject to different tax treatments based on holding periods, with a 10% tax for shares held for one month or less, and no tax for shares held for over one year [2][3] - For B share non-resident corporate shareholders, a 10% withholding tax will apply, resulting in a net dividend of 0.022541 USD per share [5] - For B share resident individual shareholders, the tax treatment varies based on holding periods, with a maximum tax of 20% for shares held for one month or less, and a net dividend of 0.025046 USD per share [5][6]

证券代码：601208 证券简称：东材科技 公告编号：2025-055 转债代码：113064 转债简称：东材转债 重要风险提示： ? 四川东材科技集团股份有限公司（以下简称"公司"或"本公司"）股票 于 2025 年 7 月 4 日、7 月 7 日、7 月 8 日连续三个交易日内日收盘价格涨幅偏离 值累计超过 20%。根据《上海证券交易所交易规则》的有关规定，属于股票交易 异常波动的情形。 ? 经公司自查核实，并向控股股东、实际控制人发函查证，截至本公告披 露日，均不存在应披露而未披露的重大信息。 ? 根据中证指数有限公司发布的相关数据，截至 2025 年 7 月 7 日，本公司 的静态市盈率为 53.90、市净率为 2.10，所属化学原料及化学制品制造业的静态 市盈率为 24.31、市净率为 1.96，公司的市盈率和市净率水平均高于行业平均水 平。敬请广大投资者注意二级市场交易风险，理性投资。 一、股票交易异常波动的具体情况 四川东材科技集团股份有限公司 股票交易异常波动公告 本公司及董事会全体成员保证公告内容不存在虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实、准确和完整承担个别及连带责任。 （四 ...

青海盐湖工业股份有限公司 关于实际控制人增持公司股份计划实施进展暨增持时间过 一、增持计划的基本情况 基于对公司未来持续稳定发展的信心和长期投资价值的认可，为增强投资者 信心，公司实际控制人中国五矿计划自 2025 年 4 月 9 日起 6 个月内，通过深圳 证券交易所系统允许的方式（包括但不限于大宗交易和集中竞价交易）增持公司 A 股股票。本次计划增持股份总数量不少于 21,166.29 万股。具体内容详见公司 于 2025 年 4 月 9 日披露的《关于实际控制人增持计划的公告》 证券代码：000792 证券简称：盐湖股份 公告编号：2025-037 半的公告 公司实际控制人中国五矿集团有限公司保证向本公司提供的信息内容真实、 准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 青海盐湖工业股份有限公司（以下简称"公司"）近日收到实际控制人中国 五矿集团有限公司（以下简称"中国五矿"）出具的《关于增持公司股份计划实 施进展暨增持时间过半的告知函》，现将相关情况公告如下： 《深圳证券交易所股票上市规则》 《深圳证券交易所上市公司自律监管指引 ...

民生证券主要观点如下： 近日，根据石化联合会等机构报道，全球最大的苯酚和丙酮生产商英力士，计划永久停止其位于德国格 拉德贝克的苯酚生产基地的生产。该工厂始建于1954年，年产苯酚65万吨，丙酮40万吨，曾是全球最大 的苯酚装置之一。公司将工厂关停的原因归因于欧洲高昂的能源成本和惩罚性的二氧化碳关税政策，导 致欧洲在与中国进口苯酚和全球供应过剩的竞争中丧失了竞争力。 智通财经APP获悉，民生证券发布研报称，近日，根据石化联合会等机构报道，全球最大的苯酚和丙酮 生产商英力士，计划永久停止其位于德国格拉德贝克的苯酚生产基地的生产。英力士将工厂关停的原因 归因于欧洲高昂的能源成本和惩罚性的二氧化碳关税政策，导致欧洲在与中国进口苯酚和全球供应过剩 的竞争中丧失了竞争力。从近5年历史价格周期来看，国内苯酚价格处于探底过程之中。虽然目前苯酚 价格处于历史低位，但随着海外核心苯酚产能因竞争力下降逐步退出市场，有望进一步刺激和拉动国内 企业产销量增长，利好国内苯酚丙酮生产企业业绩改善。 英力士集团董事长吉姆·拉特克利夫爵士评论道："这是欧洲能源竞争力完全缺失以及盲目推行碳税的后 果，这正在导致整个欧洲大陆大规模去工业化。除非监 ...