编号：2025015 | | ●特定对象调研 □分析师会议 | | --- | --- | | 投资者关 | □媒体采访 □业绩说明会 | | 系活动类 | □新闻发布会 □路演活动 | | 别 | □现场参观 | | | □其他（请文字说明其他活动内容） | | | 长城证券：花江月 | | 参与单位 | 招商证券：袁定云 | | 名称及人 | 陆家嘴国泰人寿：刘尚 | | 员姓名 | 东方财富证券：梅宇鑫 | | | 方正证券：杨宇禄 | | 时间 | 年 月 日 2025 11 26 | | 地点 | 三维化学公司总部 | | 上市公司 | 董事会秘书：张军先生 | | 接待人员 | 证券事务代表：刘财先生 | | 姓名 | | | | 一、公司2025年前三季度经营业绩介绍 | | 投资者关 | 公司2025年前三季度生产经营实现稳健发展。2025年前三季度， | | 系活动主 | 公司合计实现营业收入人民币194,100.37万元，同比增长14.63%； | | 要内容介 | 实现归属上市公司股东的净利润人民币15,345.82万元，同比增长 | | 绍 | 5.14%。具体情况可查阅公司于2025 ...

Core Viewpoint - Shandong Sanwei Chemical Group Co., Ltd. is actively engaging with investors and showcasing its diverse business operations, which include engineering, chemicals, and catalysts, highlighting its strong market position and future growth plans [1][2]. Group 1: Business Overview - Sanwei Chemical operates as a technology-driven chemical group with three main segments: engineering, chemicals, and catalysts [2]. - In the engineering sector, the company is the leading domestic provider of sulfur recovery design and contracting services [2]. - The chemical segment includes being a leading domestic producer of n-propanol, a recovery enterprise for dibutyl and octanol residual liquids, and a seller of n-pentanol [2]. - In the catalyst field, the company is a significant provider of sulfur-resistant conversion technology and catalyst products, with its QDB series catalysts recognized for their international performance [2]. Group 2: Engineering Business Orders - In the first half of 2025, Sanwei Chemical signed new engineering consulting and contracting orders totaling approximately 637 million yuan [3]. - As of June 30, the company had a total of 1.629 billion yuan in signed but uncompleted orders, including projects for Northern Huajin United Petrochemical and Sinopec (Tianjin) Petroleum and Chemical [3]. Group 3: Coal Chemical Projects - The company has a strong track record in coal chemical projects, having previously worked with major firms like Shenhua Yulin and Ningxia Baofeng Energy [4]. - Since 2025, Sanwei has taken on new coal chemical projects for Xinjiang Tianchi Energy and the National Energy Group, providing engineering services and catalyst procurement [4]. Group 4: Chemical Business Operations - The chemical segment employs a flexible production model based on market demand, allowing for quick adjustments in production [5]. - The company is advancing several projects, including the optimization of cellulose acetate butyrate production and the addition of 50,000 tons per year of isooctanoic acid capacity [5]. - Future plans include integrating R&D resources to develop high-end fine chemicals [5]. Group 5: Shareholder Returns and Expansion Plans - For the first half of 2025, the company announced a cash dividend of 1 yuan per 10 shares, totaling approximately 64.89 million yuan, with cumulative cash dividends since 2010 reaching 1.226 billion yuan [6]. - The company plans to enhance capital efficiency and expand into fine chemicals while also exploring external growth opportunities due to its strong cash position and low debt ratio [6].

Group 1: Company Overview - Shandong Sanwei Chemical Group is a technology-driven chemical group engaged in R&D, engineering services, and production of basic chemical raw materials [3] - The company is the largest producer of n-propanol in China and a leading enterprise in the recovery of butyl and octanol residuals [3][4] - Products are widely used in pharmaceuticals, pesticides, dyes, coatings, and food additives [3][4] Group 2: Engineering Business Performance - In Q1 2025, the company signed new engineering consulting and EPC contracts worth 302.328 million yuan [5] - As of March 31, 2025, the total signed but uncompleted orders amounted to 1.6706456 billion yuan [5] - Major ongoing projects include sulfur recovery and technical transformation projects for various petrochemical companies [6] Group 3: Coal Chemical Projects - The company has undertaken several coal chemical projects, including sulfur recovery design and technical services for major energy groups [7][8] - New contracts signed in 2025 include projects for natural gas production and sulfur recovery technology services [7][8] Group 4: Chemical Business and Product Strategy - The company is actively developing new chemical materials and has a complete "aldehyde-alcohol-ester" industrial chain [9] - Strategies to cope with price fluctuations include flexible production adjustments based on market demand and raw material prices [9] Group 5: Future Development Plans - Ongoing projects include the optimization of acetic acid butyl cellulose production and the enhancement of cellulose derivatives [10] - The company aims to integrate R&D resources to promote high-end product development in food-grade and pharmaceutical-grade chemicals [10] Group 6: Collaboration and R&D - A strategic partnership with the Dalian Institute of Chemical Physics focuses on technology development in petrochemicals and materials [11] - Current projects include the development of hydrogen production and sulfur technology from refining processes [11] Group 7: Catalyst Business Overview - The catalyst business is primarily managed by Qingdao Lianxin, which specializes in sulfur-resistant conversion technology [12] - The company aims to leverage its technological advantages to enhance profitability in the catalyst sector [12]