Report Industry Investment Rating - Not provided in the given content Core Viewpoints - The price of international crude oil has continued to rise due to geopolitical relations and other factors, which has strengthened the cost support for PX. The domestic PX supply level is low, demand is good, and the fundamental boosting effect still exists. However, whether the PX benefit can continue to rise depends on whether there are more unexpected factors. [2] - The cost of PTA is pushed up by the rising crude oil, but the spot basis has weakened due to the shipment of the main PTA suppliers. The PTA processing fee has entered a low - range, and it is difficult to boost the price due to the expected new device production on the supply side and the lack of improvement in the off - season on the demand side. PTA will move in a volatile manner, with cost being the dominant factor. [2] - The mainstream negotiation price of polyester bottle - chips in the Jiangsu and Zhejiang markets has risen, but the market trading atmosphere is light. The supply side's starting level remains low, and the market supply is abundant, while the downstream terminal's buying enthusiasm is not high. [2] - Without more unexpected positive factors, it is expected that PX, PTA, and PR will operate in a volatile manner. [2] Summary by Related Catalogs Price Information - **Upstream**: On July 30, 2025, the futures settlement prices of WTI crude oil and Brent crude oil increased by 1.14% and 1.01% respectively compared with the previous values. The spot prices of naphtha, xylene, etc. also showed varying degrees of increase. [1] - **PTA**: The closing and settlement prices of CZCE TA's main and near - month contracts, as well as the domestic spot price and CCFEI price index, all increased to different extents on July 30, 2025. The near - far month spread decreased by 8 yuan/ton, and the basis increased by 10 yuan/ton. [1] - **PX**: The closing and settlement prices of CZCE PX's main and near - month contracts increased on July 30, 2025. The domestic spot price remained unchanged, and the spot prices in other regions increased slightly. The PXN spread and PX - MX spread decreased. [1] - **PR**: The closing and settlement prices of CZCE PR's main contract increased slightly on July 30, 2025, while the closing and settlement prices of the near - month contract decreased slightly. The mainstream market prices of polyester bottle - chips in the East China and South China markets showed different trends, and the basis also changed accordingly. [1] - **Downstream**: The CCFEI price indices of some polyester products such as polyester DTY, POY, and short - fiber increased slightly on July 30, 2025, while some remained unchanged. [2] Operating Conditions - On July 30, 2025, the PX start - up rate remained unchanged at 77.29%. The PTA factory load rate decreased by 1.14 percentage points to 79.45%, while the load rates of polyester factories, bottle - chip factories, and Jiangsu and Zhejiang looms remained unchanged. [1] - The sales - to - production ratio of polyester filament increased by 77 percentage points to 110%, the sales - to - production ratio of polyester short - fiber decreased by 10 percentage points to 43%, and the sales - to - production ratio of polyester chips increased by 21 percentage points to 89%. [1] Device Information - The 2.5 - million - ton PTA device of Dongying United has been under maintenance from June 28 for 40 - 45 days. The 2 - million - ton PTA device of Yisheng Hainan is expected to undergo technological transformation for 3 months starting from August 1. [2] Trading Strategy - The TA2509 contract closed at 4,856 yuan/ton (0.41%) with an intraday trading volume of 540,300 lots. The PX2509 contract closed at 6,984 yuan/ton (0.66%) with an intraday trading volume of 143,500 lots. The PR2509 contract closed at 6,014 yuan/ton (0.00%) with an intraday trading volume of 33,700 lots. It is expected that PX, PTA, and PR will operate in a volatile manner. [2]

Group 1 - The chemical industry is undergoing a phase of eliminating and updating old equipment, with a focus on safety and compliance with industry standards. A plan has been issued for the period 2024-2029 to systematically eliminate outdated production facilities and enhance existing ones [2][3] - The domestic polyester filament capacity has grown rapidly from 33.28 million tons in 2019 to 43.16 million tons in 2023, with an annual growth rate of 5%. However, the growth rate is expected to slow down significantly due to high oil prices and weakening supply-demand dynamics [5][6] - The polyester filament industry is experiencing a shift from extensive capacity expansion to refined operations, with a focus on high-value-added products and structural optimization. This trend is expected to enhance the market position of leading companies [5][6] Group 2 - The leading companies in the polyester filament industry, such as Tongkun Co. and New Fengming, hold significant market shares, with Tongkun accounting for 31.1% of the capacity. The industry concentration is high, with the top six companies (CR6) holding 87.9% of the market [6] - The industry is expected to benefit from a recovery in demand and a decline in oil prices, which will likely improve the overall industry outlook. Leading companies are positioned to leverage their advantages in integration, scale, technology, and cost efficiency [6]

吉林化纤股份有限公司 第一章 总则 第一条 为强化公司董事会决策功能，做到事前审计、专业审计，确保董事会对管 理层的有效监督，完善公司治理结构，根据《中华人民共和国公司法》《上市公司治理 准则》《公司章程》及其他有关规定，公司特设立董事会审计委员会，并制定本工作条 例。 第二章 职责权限 第八条 下列事项应当经审计委员会全体成员过半数同意后，方可提交董事会审议 第二条 董事会审计委员会是董事会按照股东会决议设立的专门工作机构，主要负 责审核公司财务信息及其披露、监督及评估内外部审计工作和内部控制。 第二章 人员组成 第三条 审计委员会成员由三名董事组成，且不能为在上市公司担任高级管理人员 的董事。独立董事应当在审计委员会成员中占有二分之一以上的比例。本委员会成员均 须具有能够胜任本委员会工作职责的专业知识和商业经验。 第四条 审计委员会委员由董事长、二分之一以上独立董事或者全体董事的三分之 一提名，并由董事会选举产生。 第五条 审计委员会设主任委员（召集人）1名，由独立董事委员（会计专业人士 ）担任，负责主持委员会工作；主任委员在委员内选举，并报请董事会批准产生。 第六条 审计委员会任期与董事会一致，委员任期 ...

第一条 为规范吉林化纤股份有限公司（以下简称"公司"）董事离职管理 程序，保障公司治理结构的稳定性和连续性，维护公司及股东的合法权益，根据 《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共和国证券法》《 深圳证券交易所股票上市规则》及其他有关法律、法规和规范性文件和《吉林化 纤股份有限公司章程》（以下简称《公司章程》）的规定，特制定本制度。 第二条 本制度适用于公司全体董事因任期届满、辞职、被解除职务或其他 原因离职的情形。 第一章 总 则 第三条 公司董事离职管理应遵循以下原则： （一）合法合规原则：严格遵守国家法律法规、监管规定及《公司章程》 的要求； 吉林化纤股份有限公司 （二）公开透明原则：及时、准确、完整地披露董事离职相关信息； （三）平稳过渡原则：确保董事离职不影响公司正常经营和治理结构的稳 定性； （四）保护股东权益原则：维护公司及全体股东的合法权益。 第二章 离职的情形与程序 第四条 本制度所规定的董事离职包含以下情形： （一）董事任期届满未连选连任的； （二）董事在任期届满前主动辞职的； （三）公司股东会或者职工代表大会解任的； （四）法律法规或者《公司章程》规定的其他情形。 第 ...

吉林化纤股份有限公司 第一条 为进一步规范吉林化纤股份有限公司（以下简称"公司"）独立董事专门 会议的议事方式和决策程序，促使并保障独立董事有效地履行其职责。根据《中华人民 共和国公司法》（以下简称"公司法"）《深圳证券交易所上市公司自律监管指引第1 号－－主板上市公司规范运作》（以下简称"主板上市公司规范运作"）《上市公司独 立董事管理办法》《公司章程》《独立董事工作制度》等有关规定，制定本制度。 第二条 独立董事专门会议是指全部由独立董事参加的专门会议。独立董事专门会 议对所议事项进行独立研讨，从公司和中小股东利益角度进行思考判断，并且形成讨论 意见。独立董事专门会议主要负责对关联交易等潜在重大利益冲突事项进行事前认可。 第五条 独立董事专门会议由三分之二以上独立董事出席或委托出席方可举行。独 立董事应当亲自出席独立董事专门会议，因故不能亲自出席会议的，应当事先审阅会议 材料，形成明确的意见，并书面委托其他独立董事代为出席。如有需要，公司非独立董 事及高级管理人员及议题涉及的相关人员可以列席独立董事专门会议，但非独立董事人 员对会议议案没有表决权。 第六条 独立董事专门会议由过半数独立董事共同推举一名独立 ...

吉林化纤股份有限公司 第一章 总则 第一条 为适应公司的战略发展需要，增强公司核心竞争力，确定公司发展规划， 健全投资决策程序，加强决策科学性，提高重大投资决策的效益和决策的质量，完善公 司治理结构，根据《中华人民共和国公司法》《上市公司治理准则》《公司章程》及其 他有关规定，公司特设立董事会战略委员会，并制定本工作条例。 第八条 战略委员会的主要职责权限： （一）对公司长期发展战略规划进行研究并提出建议； （二）对《公司章程》规定须经董事会批准的重大投资融资议案进行研究并提出建 议； 第二条 董事会战略委员会是董事会按照股东会决议设立的专门工作机构，主要负 责对公司长期发展战略和重大投资决策进行研究并提出建议。 第二章 人员组成 第三条 战略委员会成员由至少三名董事组成。 第四条 战略委员会委员由董事长、二分之一以上独立董事或者全体董事的三分之 一提名，并由董事会选举产生。 第五条 战略委员会设主任委员（召集人）一名，由公司董事长担任。 第六条 战略委员会任期与董事会任期一致，委员任期届满，连选可以连任。期间 如有委员不再担任公司董事职务，自动失去委员资格，并由委员会根据上述第三至第五 条规定补足委员人数。 ...

第一条 为了进一步规范公司董事会的议事方式和决策程序，促使董事和董事会有效 地履行其职责，提高董事会规范运作和科学决策水平，根据《中华人民共和国公司法》《 中华人民共和国证券法》《上市公司治理准则》，结合公司章程及公司的具体情况，制订 本规则。 第二条 董事会下设董秘办，处理董事会日常事务。董事会秘书兼任董秘办负责人， 负责保管董事会印章。 吉林化纤股份有限公司 第三条 董事会会议分为定期会议和临时会议，董事会每年至少召开两次会议。 第四条 在发出召开董事会定期会议的通知前，董事会秘书应当充分征求各董事的意 见，初步形成会议提案后交董事长拟定。董事长在拟定提案前，应当视需要征求总经理和 其他高级管理人员的意见。 第五条 有下列情形之一的，董事会应当召开临时会议： （一）代表十分之一以上表决权的股东提议时； 第六条 按照前条规定提议召开董事会临时会议的，应当通过董秘办或者直接向董事 长提交经提议人签字（盖章）的书面提议。书面提议中应当载明下列事项： 提案内容应当属于本公司《公司章程》规定的董事会职权范围内的事项，与提案有关 的材料应当一并提交。董事会秘书在收到上述书面提议和有关材料后，应当于当日转交董 事长。董 ...

Group 1 - The company announced the approval of multiple proposals during the 17th meeting of the 10th Board of Directors, including the election of non-independent directors for the 11th Board of Directors [2]

风险提示：股市有风险，投资需谨慎。 该公司属于化纤行业板块，是注册制下上市的次新股。海阳科技总市值57.02亿元，流通市值11.17亿 元，市盈率为45.17倍，市净率3.34倍。 海阳科技7月29日股价报收31.46元，较前一交易日下跌0.09元。当日成交量为18925手，成交金额为5900 万元，换手率为5.33%。 ...

Group 1 - The stock price of Suzhou Longjie closed at 14.57 yuan on July 29, down by 0.16 yuan, representing a decline of 1.09% [1] - The trading volume on that day was 63,350 hands, with a transaction amount of 0.92 billion yuan [1] - Suzhou Longjie specializes in the research, production, and sales of differentiated polyester filament and PTT fiber, with applications in clothing, home textiles, and industrial textiles [1] Group 2 - On July 29, the company announced the election of Guan Le as the employee representative director for the fifth board of directors during the employee representative assembly [1] - The temporary shareholders' meeting held on the same day approved the extension of the validity period for the resolution related to the targeted issuance of new shares [1] - The board meeting also approved the supplementary election of members for the audit committee and the strategic committee [1] Group 3 - On July 29, the net outflow of main funds was 6.6594 million yuan, accounting for 0.21% of the circulating market value [1]