编号：2025-039-043 投资者关系活动 类别 √特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 参与单位名称及 人员姓名 华安证券 王强峰、潘宁馨、刘天其 东方基金 徐振邦 广发证券 曲尚浩 时间 2025 年 5 月 15 日 地点 公司会议室 上市公司接待人 员 董事会秘书董旭海、董事会办公室人员 投资者关系活动 主要内容介绍 投资者：芳纶二季度销售的趋势？ 答：正常二季度都比一季度好，一季度一般是最差的。 投资者：价格整体还是稳定？ 答：对。 投资者：超高分子聚乙烯也可以用在防护领域，有替代关 系？ 答：有一点。目前主要是头盔和防弹衣两个市场，头盔是它 为主，防弹衣是芳纶为主，装甲都有用的。 投资者：隔膜的应用情况？固态上的应用的进展？ 答：隔膜去年一直在做验证，目前来看验证通过的大概十家 左右，有一些比较急的订单是中试线在做，大部分是要等产 业化，大线调好了用大线来做。大线目前是设备安装好了在 调试，还没有完全调完。 1 投资者关系活动记录表 投资者关系活动记录表 证券代码：002254 证券简称：泰和新材 泰和新材集团股份有限公司 投资者关 ...

Core Viewpoint - The rejection of Huafeng Chemical's restructuring proposal by minority shareholders highlights the significance of their participation in corporate governance, indicating that minority investors do have a voice and can influence major decisions [1][2][3] Group 1: Restructuring Proposal Controversy - Huafeng Chemical's restructuring plan faced scrutiny due to the high valuation increases of the target assets, with Huafeng Synthetic Resin and Huafeng Thermoplastics seeing appraisal increases of 506.96% and 478.49% respectively [1] - Prior to the transaction, both companies engaged in a significant dividend payout of approximately 2 billion yuan, leading to a surge in their debt ratios, with Huafeng Synthetic Resin's debt ratio rising from 60.48% to 75.75% and Huafeng Thermoplastics from 71.44% to 85.21% [1] Group 2: Minority Shareholder Actions - Approximately 130 million shares were abstained from voting, accounting for 42.98% of the effective voting rights, indicating a strong skepticism among minority shareholders regarding the transaction's fairness [1] - Among minority shareholders, only 44.46% voted in favor of the proposal, while abstentions made up 45.08%, reflecting a heightened vigilance against potential benefit transfers [1][2] Group 3: Implications for Corporate Governance - The collective action of minority shareholders in rejecting the related-party transaction signifies a growing awareness of their rights, as they increasingly utilize their voting power to influence significant corporate decisions [2] - Enhanced transparency in financial disclosures and the availability of professional evaluation reports have provided minority shareholders with the necessary information to question the rationale behind transactions [2] - Regulatory frameworks have strengthened minority shareholders' voting rights, allowing for measures such as avoiding voting on related-party transactions and implementing classified voting [2][3] Group 4: Recommendations for Major Shareholders - Major shareholders must acknowledge the status of investors and respect the interests of minority shareholders, avoiding self-serving practices in related-party transactions [2] - Companies should improve communication with minority shareholders, as Huafeng Chemical's failure to adequately explain the rationale behind the transaction led to its rejection [2] Group 5: Regulatory Considerations - Regulatory bodies are encouraged to enhance protections for minority shareholders, particularly concerning high-premium acquisitions and sudden dividend payouts, by requiring detailed justifications from companies [3] - The failure of Huafeng Chemical's restructuring proposal illustrates that under modern shareholder meeting rules, the voices of minority shareholders can significantly impact major decisions [3]

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证券代码： 002254 证券简称：泰和新材 泰和新材集团股份有限公司投资者关系活动记录表 编号：2025-027 | 投资者关系活动 | □特定对象调研 □ 分析师会议 | | --- | --- | | 类别 □ | 媒体采访 √ 业绩说明会 | | □ | 新闻发布会 路演活动 □ | | □ | 现场参观 | | □ | 其他 （请文字说明其他活动内容） | | 参与单位名称及 | 投资者网上提问 | | 人员姓名 | | | 时间 | 年 月 日 下午 2025 5 15 (周四) 15:00~16:30 | | 地点 | 公司通过全景网"投资者关系互动平台"（https://ir.p5w.net） | | | 采用网络远程的方式召开业绩说明会 | | 上市公司接待人 | 1、总会计师顾裕梅 | | 员姓名 | 2、董事会秘书董旭海 | | | 投资者提出的问题及公司回复情况 | | | 公司就投资者在本次说明会中提出的问题进行了回复： | | | 1、公司将来通过哪些举措进行市值管理？ | | | 您好，感谢您对公司的关注和支持。公司始终致力于通过夯 | | | 实主业竞争力、优化资本结构、强化投 ...

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临时公告:2025-040 证券代码：002254 股票简称：泰和新材 公告编号：2025-040 泰和新材集团股份有限公司 本公司及其董事、监事、高级管理人员保证公告内容真实、准确和完整，公告不存 在虚假记载、误导性陈述或者重大遗漏。 特别提示： 三、股权登记日与除权除息日 账户中的股份 8,824,123 股不参与本次权益分派。公司本次实际现金分红总额= （862,945,783 股-8,824,123 股）×0.5 元/10 股=42,706,083.00 元（含税）。 分红（含税）=实际现金分红总额÷本次权益分派股权登记日的总股本 =42,706,083.00 元÷862,945,783 股=0.0494887 元/股（最后一位直接截取，不四舍 五入）。 格-0.0494887）元/股。 公司于 2025 年 4 月 17 日召开第十一届董事会第十三次会议审议通过了公 司《2024 年度利润分配预案》，并获 2025 年 5 月 12 日召开的 2024 年度股东大 会审议通过，现将权益分派事宜公告如下： 一、股东大会审议通过的分配方案情况 权登记日的总股本扣减公司回购专用证券账户中股份（截至议案审批 ...

数据显示，2025年第一季度，泰安市外贸进出口持续增长，全市实现货物进出口总值152.9亿元，同比 增长34%。为助力企业在当前复杂多变的外贸环境中稳健前行，泰安市税务部门主动上门，为企业提供 政策解读与辅导，指导企业依法依规享受出口退税，持续减轻企业资金压力。 在泰安科鼎特工贸有限公司的生产车间里，出口订单生产繁忙，高端游艇绳生产线满负荷运转，全力保 障按时交付。"面对当前的外贸形势，在税费支持政策的帮助下，我们在维持美国原有市场的同时，加 紧拓展东南亚、中东等新兴市场，并通过扩大内销实现双线突围，两条腿走稳了发展路。"该企业负责 人徐传钢说。 据了解，泰安科鼎特工贸有限公司主要从事各类化学纤维及高分子纤维绳索缆制品、链条及配套件的研 发、生产和出口，产品出口到美国、澳大利亚、日本以及欧洲等40多个国家和地区。作为出口企业，泰 安科鼎特工贸有限公司十分重视税务合规建设，连续五年获评A级纳税信用等级。 同样感受到出口退税便利的，还有华威电力工程(山东)有限公司。"税务部门送来的手册图文并茂，从 备案登记到申报操作一步步讲得明明白白，新财务也能轻松上手!"华威电力公司财务负责人赵秀运翻看 着出口退税"一本通"连 ...

Core Viewpoint - Huafeng Chemical's asset restructuring plan involving a total consideration of 6 billion yuan has been officially terminated after failing to gain approval from the shareholders' meeting, marking a significant setback for the company [2][5]. Group 1: Restructuring Plan Details - The restructuring plan aimed to acquire 100% equity of Huafeng Synthetic Resin for 4.04 billion yuan and Huafeng Thermoplastic for 1.96 billion yuan from Huafeng Group and related parties [5]. - The plan faced skepticism due to high premiums and substantial dividends paid by the target companies prior to the transaction [5][6]. - On April 29, 2025, all 19 related proposals were rejected at the shareholders' meeting, primarily influenced by minority shareholders [6][8]. Group 2: Shareholder Voting Dynamics - Minority shareholders voted against the restructuring, with only 44.46% of the votes in favor of the proposal to issue shares and pay cash for the assets [8]. - The voting results showed a significant number of abstentions, with 42.98% of votes being abstained, leading to the failure of the proposals [6][8]. Group 3: Financial Performance and Concerns - The high premiums for the target companies raised concerns about their asset quality, with Huafeng Synthetic Resin's equity valuation showing a 506.96% increase and Huafeng Thermoplastic's at 478.49% [8]. - Both companies experienced a notable increase in debt levels in 2024, with Huafeng Synthetic Resin's total liabilities reaching 2.08 billion yuan and an asset-liability ratio rising to 75.75% [8]. - The significant dividends distributed in 2024, totaling 2 billion yuan, contributed to the increased debt, raising questions about financial management practices [9]. Group 4: Company Performance Overview - Huafeng Chemical has faced declining profitability, with net profits dropping from 2.844 billion yuan in 2022 to 2.22 billion yuan in 2024, reflecting a downward trend [9]. - The company's first-quarter report for 2025 indicated a continued decline in revenue and net profit, with a 5.15% decrease in revenue year-on-year [9].

Core Viewpoint - The company announced plans to utilize remaining funds from a terminated fundraising project to implement new investment projects, specifically a 200,000-ton Nylon 6 chip project and a 50,000-ton adiponitrile project, which are expected to enhance production capabilities and economic benefits [1][4][16]. Group 1: 200,000-ton Nylon 6 Chip Project - Project Name: 200,000-ton Nylon 6 Chip Project, implemented by Henan Shennma Puli Materials Co., Ltd., a subsidiary of the company [1]. - Location: The project is located in the Nylon New Material Industrial Cluster Area in Pingdingshan, Henan Province, covering an area of 64,059.43 square meters [2]. - Construction Content: The project includes three advanced production lines for Nylon 6 continuous polymerization products and a special Nylon new product development line, aiming to produce high-quality differentiated Nylon 6 chips [3]. - Investment and Funding: The total investment for the project is 899.12 million yuan, with 328 million yuan sourced from remaining funds of a terminated project, and the funding gap covered by the company's own or raised funds [4]. - Economic Benefits: The project's post-tax internal rate of return is estimated at 8.87%, with a static investment payback period of 10.95 years, indicating good economic viability [8]. Group 2: 50,000-ton Adiponitrile Project - Project Name: 50,000-ton/year Adiponitrile Project, implemented by Henan Shennma Aidi'an Chemical Co., Ltd., a wholly-owned subsidiary of the company [16]. - Location: The project is situated in the Pingdingshan Chemical Industry Cluster Area, covering an area of 145,547.25 square meters [17]. - Construction Content: The project will include major production facilities for adiponitrile and hydrogen cyanide, along with auxiliary production projects and public utility projects [18]. - Investment and Funding: The total investment for the project is 1.48689 billion yuan, with 273 million yuan sourced from remaining funds of a terminated project, and the funding gap covered by the company's own or raised funds [19]. - Economic Benefits: The project's post-tax internal rate of return is estimated at 8.05%, with a static investment payback period of 11.31 years, indicating good economic viability [24]. Group 3: Project Necessity and Feasibility - The Nylon 6 project aligns with national industrial development policies, producing differentiated high-quality Nylon 6 polymer products, which are encouraged by the national industrial structure adjustment guidance [11]. - The Adiponitrile project addresses the domestic production of a key raw material for Nylon 66, which has been historically monopolized by foreign companies, thus enhancing the company's supply chain and reducing dependency on imports [28]. - Both projects utilize advanced production technologies, ensuring efficiency and environmental friendliness, with the Nylon 6 project employing both domestic and imported technologies to optimize production processes [15][30].