江苏澄星磷化工股份有限公司 办法》"）等法律、法规及《江苏澄星磷化工股份有限公司章程》 （以下简称"《公 司章程》"）的规定，江苏澄星磷化工股份有限公司（以下简称"公司"）监事会 对公司 2025 年限制性股票激励计划（以下简称"本次激励计划"）首次授予激励 对象认真核实后，发表如下意见： 部限制性股票外，本次获授限制性股票的其他首次授予激励对象与公司 2025 年 第三次临时股东大会审议通过的公司《2025 年限制性股票激励计划（草案）》 （以 监事会关于公司 2025 年限制性股票激励计划 首次授予激励对象的核查意见（授予日） 根据《公司法》 《证券法》 《上市公司股权激励管理办法》 （以下简称"《管理 （3）最近 12 个月内因重大违法违规行为被中国证监会及其派出机构行政处 罚或者采取市场禁入措施； （4）具有《公司法》规定的不得担任公司董事、高级管理人员的情形的； （5）法律法规规定不得参与上市公司股权激励的； 下简称"《激励计划》"）中确定的激励对象条件相符； 象的情形： （1）最近 12 个月内被证券交易所认定为不适当人选； （2）最近 12 个月内被中国证监会及其派出机构认定为不适当人选； （6 ...

证券代码：600078 证券简称：澄星股份 公告编号：临 2025-053 江苏澄星磷化工股份有限公司 关于调整公司 2025 年限制性股票激励计划相关事项的公告 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。 江苏澄星磷化工股份有限公司（以下简称"公司"）于 2025 年 8 月 15 日召 开第十一届董事会第二十二次会议，审议通过了《关于调整公司 2025 年限制性 股票激励计划相关事项的议案》，现将有关事项说明如下： 一、2025 年限制性股票激励计划已履行的决策程序和信息披露情况 过了《关于 <公司 ensp="ensp" 及其摘要="及其摘要" 年限制性股票激励计划="年限制性股票激励计划" 草案="草案"> 的议案》、《关 于 <公司 ensp="ensp" 年限制性股票激励计划实施考核管理办法="年限制性股票激励计划实施考核管理 办法"> 的议案》以及《关于提 请股东大会授权董事会办理公司 2025 年限制性股票激励计划相关事宜的议案》 等议案。 同日，公司召开第十一届监事会第十七次会议，审议通过了《关于 <公司 ...

Group 1 - The company has implemented an incentive plan that includes the allocation of restricted stocks to core management, key employees, and high-potential staff, totaling 1,824,000 shares [1] - Of the total shares granted, 1,104,000 shares (60.52%) are allocated to core management and key employees, while 400,000 shares (21.93%) are reserved for future allocation [1] - The total number of shares involved in all effective incentive plans does not exceed 10% of the company's total share capital at the time of the incentive plan announcement [1] Group 2 - The company will disclose relevant information about the incentive recipients after receiving clear opinions from the supervisory board or the compensation and assessment committee, along with legal opinions from lawyers [2] - If the incentive recipients are not clearly defined within 12 months, the reserved rights will become invalid [2]

Fundraising Overview - The company raised a total of RMB 710,999,928.08 through the issuance of 50,176,424 shares at a price of RMB 14.17 per share, with a face value of RMB 1 per share [1] - The net amount raised from the stock issuance was RMB 695,059,960.26 after deducting various expenses [1] - The company adjusted the intended use of the raised funds from RMB 150 million to RMB 69.506 million due to lower-than-expected fundraising results [1] Fund Allocation and Adjustments - The company allocated RMB 205 million for working capital and RMB 44.91 million to replace pre-invested funds in projects, with the remaining funds being subject to interest income and investment returns [1] - As of June 30, 2025, the balance of the fundraising account was RMB 455,099,876.65, with specific allocations detailed [2] - The company has established a management system for the special storage and use of raised funds, ensuring compliance with relevant regulations [2][8] Project Updates and Changes - The company decided to change the use of unallocated funds from two projects to the "Kumino (Egypt) Suez Phosphate Chemical Project," which involves the construction of various chemical production facilities [7] - The decision to shift funds was made in response to changes in the competitive landscape of the new energy market, aiming to enhance the efficiency of fund utilization [7] - The company has reported that the 30,000 tons/year sulfuric acid project reached operational status in August 2023, contributing to the production of sulfuric acid for its chemical products [6] Compliance and Reporting - The company has adhered to regulatory requirements for the management and use of raised funds, ensuring timely and accurate disclosures without any violations [8] - Independent audits and verification reports have been conducted to confirm the proper use of funds and compliance with established protocols [2][8]

Summary of Key Points from the Conference Call Industry Overview - The chemical industry stock index has significantly outperformed the Shanghai Composite Index year-to-date, with notable performances in the plastics and rubber sub-sectors, achieving increases of 48% and 35% respectively, driven by small-cap effects and the popularity of industries such as robotics and AI materials [1][3][4]. Core Insights and Arguments - The divergence between chemical stock performance and commodity futures is evident, with stock prices influenced by both EPS and valuation changes, with valuation changes being more pronounced [1][6]. - The delay in US-China tariffs and anti-involution measures have positively impacted stock valuation recovery [1][6]. - Anti-involution policies have effectively balanced supply and demand by eliminating outdated production capacity and promoting industry self-discipline, leading to an increase in chemical product prices [1][9]. - The chemical sector faces challenges of overcapacity and prices below cost due to disorderly competition, which the industry typically addresses through self-discipline, extended maintenance periods, and the elimination of outdated capacity [1][11]. Sub-Sector Performance - Four sub-sectors expected to see improved performance in the second half of the year include fluorochemicals and refrigerants, phosphorus chemicals, pesticides, and sugar substitutes, benefiting from quota policies, strong downstream demand, cyclical rebounds, and enhanced export competitiveness [1][13][14]. - Mid-year reports indicate strong performance in refrigerants and phosphorus chemicals, with expectations for continued relative gains throughout the year [1][14][15]. Recommended Investment Opportunities - Key recommendations for the second half of the year include sectors such as smart devices, phosphorus chemicals, pesticides, and sugar substitutes, with specific companies highlighted: - **Juhua Co.** (Refrigerants) - Projected profit of 2 billion yuan in 2025, a year-on-year increase of approximately 150% [2][17]. - **Yuntianhua Co.** (Phosphorus Chemicals) - Last year's profit of 2.7 billion yuan, with 1.3 billion yuan achieved in Q1 2025 [2][17]. - **Yangnong Chemical** (Pesticides) - Expected slight growth in 2025 [2][17]. - **Bailong Chuangyuan** (Sugar Substitutes) - Q1 2025 profit of 80 million yuan, a year-on-year increase of over 50% [2][17]. Market Dynamics and Price Trends - The recent 10% increase in commodity prices is attributed to supply-demand imbalances exacerbated by anti-involution policies, which have led to coordinated maintenance schedules among manufacturers [1][8][9]. - The chemical industry is implementing measures to achieve supply-demand balance and enhance product prices through the elimination of outdated capacity and self-regulation [1][9][10]. Additional Insights - The chemical sector is currently in a cyclical bottoming phase, with expectations for gradual improvement starting in 2025 due to policy changes and improved liquidity [1][13]. - The performance of the recommended sectors is expected to continue contributing positively to earnings, with the logic of growth still unfolding [2][16]. Elasticity of Recommended Stocks - The stocks are ranked by elasticity from highest to lowest: Bailong Chuangyuan > Yangnong Chemical > Juhua Co. > Yuntianhua Co., reflecting higher growth potential in smaller market cap companies [2][18].

（文章来源：每日经济新闻） 川金诺（SZ 300505，收盘价：22.47元）8月14日晚间发布公告称，公司第五届第十六次董事会会议于 2025年8月14日在公司会议室召开。会议审议了《关于公司<2025年半年度报告>及其摘要的议案》等文 件。 2024年1至12月份，川金诺的营业收入构成为：磷化工行业占比97.51%，其他行业占比2.49%。 ...

Core Viewpoint - Yunnan Yuntianhua Co., Ltd. has won the third prize of the Yunnan Provincial Science and Technology Progress Award for its significant technological innovations in the fields of phosphate chemicals and synthetic ammonia [1] Group 1: Technological Innovations - The project "Key Technology Research and Industrialization of Efficient Phosphate Production from Low-Quality Phosphate" addresses the low utilization rate of low-quality phosphoric acid during the production process of high-impurity phosphate ore, leading to the development of a series of enhanced diammonium phosphate products that promote crop growth and resilience [1] - Yuntianhua has innovatively developed a new hydrogen production process and related equipment that efficiently utilizes reaction heat for a 500,000 tons/year synthetic ammonia facility, solving key issues related to long-term operation and high energy consumption [1] Group 2: Intellectual Property - The core technologies of the new hydrogen production process have led to the successful application of 2 national invention patents and 2 utility model patents [1] Group 3: Future Plans - Yuntianhua aims to continue driving innovation and industrial upgrades, focusing on the deep integration of the innovation chain and the industrial chain, accelerating the transformation of scientific and technological achievements to inject strong momentum into high-quality development [1]

据悉，多聚磷酸盐项目分两期推进：一期新上装置多聚磷酸盐2万吨，已于今年6月6日点火成功，目前 试生产负荷已提升至50%，日产能达30吨；二期主要建设多聚磷酸盐4万吨、多聚磷酸铵钙2万吨、有机 过磷酸钙2万吨的产能。项目全部建成后，年产值可达5亿元，将带动上下游形成磷资源高效利用的产业 集群。 长期以来，磷化工企业副产的大量低效枸溶性磷资源难以利用，成为制约行业发展的痛点。据德毅聚磷 工艺技术负责人罗鸣坤介绍，该公司利用周边磷化工企业的副产枸溶性磷作为原料，通过多聚磷酸盐的 生产工艺，把枸溶性磷的生产原料变成水溶性磷和多聚磷酸盐，真正实现"变废为宝"。 公司针对副产枸溶性磷的特性展开攻关，创新性地将其他磷化工企业的萃余酸、工铵渣等"工业边角 料"作为原料，通过自主工艺实现核心突破，将低效枸溶性磷转化为高价值的水溶性磷及聚合态磷，这 不仅解决了副产处理难题，更实现了磷资源高效利用的闭环。 中化新网讯 近日，由湖北德毅聚磷科技有限公司（简称"德毅聚磷"）自主研发的国内首套多聚磷酸盐 连续生产装置试生产平稳运行，各项指标优于预期，预计9月份正式投入运行。 ...

Core Viewpoint - Hubei Yihua announced the replacement of 660,000 tons/year of diammonium phosphate capacity to enhance its phosphate chemical project, aiming for high-end, refined, and high-value-added products [1] Group 1: Project Development - The phosphate chemical project will be implemented by Hubei Yihua Phosphate Chemical Co., Ltd., with a planned annual production of 200,000 tons of refined phosphoric acid and 650,000 tons of phosphate [1] - As of the announcement date, the project has completed the construction of various facilities, including a 2×60,000 tons/year sulfuric acid production unit and a 400,000 tons/year wet phosphoric acid unit, which are now in full production [1] Group 2: Strategic Goals - The company aims to promote the transformation and upgrading of the phosphate chemical industry, enhancing the tiered utilization of phosphate rock resources [1] - The strategy focuses on extending traditional phosphate products towards high-end, refined, and high-value-added directions, which will help expand the scale of phosphate chemical products and improve the company's profitability and market competitiveness [1] Group 3: Product Portfolio - The company's main products include 2.16 million tons/year of urea, 1.26 million tons/year of diammonium phosphate, and other chemical products such as PVC and caustic soda, with a total production capacity across various products [2]

Group 1 - The company announced the progress of the free transfer of state-owned equity involving its controlling shareholder's action partner, Sichuan Yuanling Industrial Investment Group Co., Ltd. [2] - A total of 14,326,647 shares, representing 1.1% of the company's equity, will be transferred from Yuanling Investment to its parent company, Sichuan Gangrong Investment Development Group Co., Ltd. [3] - The transfer does not change the controlling shareholder or the actual controller of the company, nor does it affect the shareholding ratio of the controlling shareholder and its action partners [4] Group 2 - The company’s subsidiary, Mabi Wuqiong Mining Co., Ltd., has completed the safety facility acceptance for the 900,000 tons/year Dingjia Phosphate Mine (Phase II) mining project [7] - The phosphate project is currently in trial production and is expected to enhance the company's future operating performance and overall strength, positively impacting long-term development [7]