据悉，广西长科是一家专注于特种合成树脂高分子材料研发、生产和销售的高新技术企业，产品包括透明ABS、高透明MS、高腈AS、高抗冲 ABS/HIPS、高光ABS/HIPS等特种树脂产品，其中透明ABS工艺打破了国外对透明ABS生产工艺的垄断，可实现进口替代。 星标★IPO日报 精彩文章第一时间推送 AI制图 再次收购 IPO日报注意到，这不是长鸿高科首次尝试收购广西长科。 2023年8月31日，公司披露拟以现金方式收购广西长科100%股权的重大资产购买预案，但推进仅1个多月就宣告终止。 同时，广西长科的实际控制人为上市公司的实际控制人陶春风，本次交易构成关联交易。本次交易不会导致公司实际控制人的变更，不构成重组上市。 根据公告，初步确定的交易对方为海南定恒创业投资有限公司、宁波定科企业管理合伙企业（有限合伙）、宁波定高新材料有限公司。7月7日，长鸿高科 与以上3家公司就收购广西长科股权事项签署了股权收购意向协议。 7月8日，长鸿高科停牌。 对于上述收购，公司表示，本次交易前，上市公司主营业务为苯乙烯类热塑性弹性体、可降解塑料产品及其副产品的研发、生产和销售。广西长科主营业 务为合成树脂及塑料产品生产和销售。与上 ...

【DT新材料】 获悉，7月7日， 长鸿高科 公告称，公司正在筹划以发行股份、可转换公司债券及支 付现金的方式购买 广西长科新材料有限公司 100%股权并同时募集配套资金。 其实， 长鸿高科 早在2023年8月31日就曾发布公告，拟以现金购买广西长科100%股权，新增合成树 脂及塑料业务。筹划重大资产重组不足两个月时间，公司同年10月20日公告， 因交易方案中的核心 交易条件未能达成一致意见，决定终止筹划本次重大资产重组事项 。 其中，本次被收购的标的公司 广西长科 的实控人，以及交易对手方 海南定恒创业投资有限公司 的 法人、 宁波定科企业管理合伙企业（有限合伙） 执行事务合伙人都是长鸿高科的实控人 陶春风 。 同时， 他还是 科元控股集团有限公司 的掌门人，旗下还有 宁波科元精化 、 浙江长鸿生物材料 、 浙江长科新材料 、 浙江定阳新材料 、 宁波国沛石油化工 等。 广西长科 ，成立于 2012年3月7日，法人 陈涛，注册资金 88739.703329万元，是一家专注于特种合 成树脂高分子材料研发、生产和销售的高新技术企业，产品包括透明ABS、高透明MS、高腈AS、高 抗冲ABS/HIPS、高光ABS/H ...

时隔近两年，长鸿高科（605008）重启对实控人陶春风旗下广西长科新材料有限公司（以下简称"广西长科"）的收购计划。7月7日晚间，长鸿高科披露公告 称，公司拟以发行股份、可转债及支付现金的方式购买广西长科100%股权。值得注意的是，在本次并购计划披露之前，标的广西长科刚于今年4月经历了一 次大规模股权变动。彼时，陶春风将旗下资产"左手倒右手"，标的公司超半数股权结构内部调整。二度筹划收购实控人旗下资产背后，长鸿高科正承受着不 小的业绩压力，自上市次年起，公司净利接连下滑，并于2025年一季度出现首次亏损。与此同时，截至2025年一季度末，公司账上短期、长期借款合计超20 亿元。在此背景下，此次并购广西长科能否成为长鸿高科业绩止跌的"解药"，也将引发市场广泛关注。 标的股权刚大规模变动 长鸿高科拟再度筹划收购实控人旗下资产。 需要指出的是，本次已非长鸿高科首次筹划收购广西长科。2023年9月1日，公司披露重组预案显示，拟以现金购买其广西长科100%股权。不过，当次重组 事项仅筹划不足两个月，于当年10月终止。对于当次重组终止的原因，公司曾表示，受市场环境变化等因素影响，交易条件发生较大变化，公司与交易对方 对交 ...

Core Viewpoint - Ningbo Changhong High Polymer Technology Co., Ltd. is planning to acquire 100% equity of Guangxi Changke New Materials Co., Ltd. through a combination of issuing shares, convertible bonds, and cash payment, which is expected to constitute a major asset restructuring [1][4]. Group 1: Acquisition Details - The acquisition involves related parties, as the actual controller of Guangxi Changke is also the actual controller of Changhong High Tech, and it will not lead to a change in the actual controller of the company [1]. - The transaction is aimed at enhancing the company's competitiveness and expanding its business scope in the synthetic resin and plastic production sector, which aligns with its existing operations [4][10]. - Previous attempts to acquire Guangxi Changke were made in August 2023 but were terminated due to market changes and failure to reach consensus on core transaction conditions [7][10]. Group 2: Financial Performance of Guangxi Changke - Guangxi Changke reported revenues of 402.61 million yuan, 607.47 million yuan, and 229.84 million yuan for the years 2021, 2022, and the first half of 2023, respectively, while net profits were 22.55 million yuan, 10.52 million yuan, and -17.60 million yuan during the same periods [5][6]. - The company's cash flow from operating activities has been negative, with figures of -127.60 million yuan, -147.05 million yuan, and -40.84 million yuan for the respective periods [5][6]. - As of June 30, 2023, Guangxi Changke had total assets of 2.67 billion yuan and total liabilities of 1.76 billion yuan, resulting in a debt-to-asset ratio of 66.2% [5][6]. Group 3: Changhong High Tech's Financial Situation - Since its listing in 2020, Changhong High Tech has experienced a decline in net profits, with figures of 302 million yuan, 185 million yuan, 180 million yuan, 95 million yuan, and 94 million yuan projected from 2020 to 2024 [9]. - In the first quarter of 2025, the company reported a revenue of 718 million yuan, a year-on-year decrease of 6.93%, and a net loss of 16.43 million yuan, a decline of 125.46% compared to the previous year [9]. - The company attributed its losses to production efficiency upgrades and a decline in product sales prices exceeding the drop in raw material prices [10]. Group 4: Capital Movements and Market Reactions - The actual controller, Tao Chunfeng, has been active in capital movements, including a planned private placement to raise up to 1.2 billion yuan, with part of the funds potentially used for the acquisition [12][13]. - Following the termination of the acquisition, the planned private placement amount was significantly reduced, indicating market skepticism regarding the transaction [13][14]. - The actual controller's recent actions, including a rapid decision to reduce holdings shortly after a private placement, have raised concerns among investors [15][16].

Core Viewpoint - The article discusses the current state and future prospects of China's chemical new materials industry, highlighting the continuous expansion of production capacity, technological innovations, and the emergence of specialized chemical parks, while also addressing structural challenges and the need for high-quality development. Group 1: Industry Overview - In 2023, China's chemical new materials capacity reached approximately 49 million tons per year, with an output exceeding 36 million tons and a production value of over 1.37 trillion yuan, remaining stable compared to 2022, although lithium battery materials saw a decline from 540 billion yuan to 480 billion yuan [5][20]. - The chemical industry is experiencing a transition from high-speed growth to high-quality development, with total revenue of 15.95 trillion yuan in 2023, a decrease of 1.1% year-on-year, and total profits of 873.4 billion yuan, down 20.7% [20][21]. Group 2: Technological Innovations - Since the 13th Five-Year Plan, the chemical new materials sector has seen significant technological advancements, with breakthroughs in key technologies such as photovoltaic-grade EVA, optical-grade PMMA, and high-strength carbon fibers [7][8]. - A number of critical products have broken foreign monopolies and achieved industrialization, including HDI, PC, PPS, and electronic-grade chemicals [8][10]. Group 3: Key Players and Market Dynamics - Major companies in the sector include Sinopec, PetroChina, and China National Chemical Corporation, focusing on high-end polyolefins, synthetic rubber, and carbon fibers [11]. - Private enterprises are also making strides in specialized fields such as EVA, fluorinated chemicals, and nylon, contributing to the development of China's new materials industry [11]. Group 4: Specialized Chemical Parks - Several specialized chemical parks have emerged, such as the Shanghai Chemical Park and Ningbo Petrochemical Economic Development Zone, which are becoming core drivers for the development of new materials [11][12]. Group 5: Investment Trends and Policy Guidance - Under the guidance of industrial policies, there is a high investment enthusiasm in the chemical new materials sector, focusing on high-end polyolefins, engineering plastics, and functional films [17][23]. - The industry is urged to prioritize the import of high-potential products to address supply shortages and enhance domestic production capabilities [23][24]. Group 6: Challenges and Future Directions - The industry faces structural contradictions, including insufficient high-end supply and bottlenecks in key raw materials and technologies [18][20]. - The focus is shifting towards high-quality development, with an emphasis on enhancing product quality and meeting the growing domestic demand for high-performance materials [21][22].

Core Viewpoint - Mitsui Chemicals is strategically divesting its 50% stake in Sinopec Mitsui Chemicals Co., Ltd. (SSMC) to Shanghai Gaoqiao Petrochemical Co., Ltd. as part of its global strategy adjustment, focusing on green chemicals and high-performance materials due to declining domestic demand and increasing overseas competition [2][3]. Group 1: Company Actions - The divestment of SSMC is a response to the continuous decline in performance, with a projected loss of 10.6 billion yen for the fiscal year 2025 [3]. - Mitsui Chemicals is considering restructuring its core business units related to basic and green materials, including phenols, industrial chemicals, and sustainable raw materials [2]. Group 2: Industry Context - The domestic phenol production capacity in China has reached 6.39 million tons, with increasing industry concentration, including major players like Zhejiang Petrochemical and Wanhua Chemical [5]. - The industry is facing an oversupply situation, with an expected additional capacity of 995,000 tons in 2025 from various companies [5]. - Recently, INEOS Phenol, the world's largest producer of phenol and acetone, announced plans to permanently cease production in Germany, indicating broader challenges in the chemical sector [4]. Group 3: Remaining Operations in China - Mitsui Chemicals maintains several significant operations in China, including: - Shanghai Sinopec Mitsui Elastomers Co., Ltd., producing ethylene-propylene-diene monomer (EPDM) with an annual capacity of 75,000 tons [6]. - Tianjin Mitsui Nonwoven Fabrics Co., Ltd., producing nonwoven fabrics with an annual capacity of 15,000 tons [7]. - Foshan Mitsui Chemical Isocyanate Co., Ltd., focusing on polyurethane products for the automotive industry [8]. - Zhangjiagang Free Trade Zone Mitsui Yuntuo Composite Materials Co., Ltd., producing high-performance polymer composites [8]. - Plans to expand production capacity in Shanghai for thermoplastic elastomers and adhesive polyolefins by 2026 [8].

Core Viewpoint - The event "Unfazed by Storms, Set Sail Far" emphasizes the importance of promoting inclusive finance in Yantai, highlighting the city's commitment to becoming a financial stronghold and fostering high-quality economic development through collaboration among financial institutions and enterprises [4][5]. Group 1: Financial Development Strategies - Yantai has initiated the "Financial Empowerment for Green, Low-Carbon, High-Quality Development" policy to enhance the financial sector's contribution to sustainable growth [4]. - The city aims to integrate various resources and expertise to support enterprises, focusing on policy interpretation, financing connections, talent acquisition, and technology transformation [5]. Group 2: Economic Insights - The chief economist of Shenwan Hongyuan Securities stated that Yantai is fertile ground for high-quality enterprise development, advocating for the enhancement of credit capital and comprehensive value to create a conducive market for inclusive finance [6]. - The current economic landscape shows a shift in financial demand, necessitating a collaborative approach between real and financial investors to ensure quality financial services [6]. Group 3: Market Trends and Opportunities - The director of Shenwan Futures highlighted the impact of external factors such as tariffs on consumer confidence and economic growth in the U.S., while also noting the limited recovery in China's exports due to these pressures [7]. - The introduction of the new "National Nine Articles" indicates a shift in capital market policies towards quality over quantity, with a focus on IPOs and mergers and acquisitions, particularly in the hard technology sector [8]. Group 4: Investment Opportunities in Specialized Enterprises - The roundtable forum discussed the significant opportunities for specialized and innovative enterprises, emphasizing their role in driving economic growth and enhancing supply chain security through innovation and market segmentation [9][10]. - Investment managers expressed a strong interest in technology-driven high-growth sectors, focusing on companies with unique competitive advantages and long-term growth potential [10][11].

可乐丽 ： 今年3月宣布停止生产 Vecstar™ FCCL柔性覆铜板 。6月3日宣布停止旗下制造子公司Kuraray Saijo Co., Ltd.的 聚酯树脂及聚酯长丝 的生 产。 三井化学： 2023年3月宣布计划在2025年7月将日本大牟田的 甲苯二异氰酸酯（TDI） 工厂产能 从12万吨/年缩减至5万吨/年。2024年4月决定在 2026财年 关闭其位于日本市原市的苯酚工厂 。2024年6月出售了从事 聚氨酯副产品回收 等业务的子公司Katsuzai Chemical。今年5月26日，宣布决 定退出其全资子公司下关三井化学生产的 三氟化氮业务 ， 5月30日宣布将其 基础与绿色材料事业部 （B&GM）进行分拆。 然而，近期多见日本企业退出、拆分，日本化工巨头开始大"撤退"： 旭化成： 今年5月27日宣布将退出 MMA单体、CHMA、丙烯酸树脂及SB乳胶业务 ，重建乙腈供应链，并关 闭川崎精制工厂 。 三菱化学： 今年 3月31日决定在2027年3月底前分阶段 停止三菱化学小名浜工厂和新菱磐城工厂的生产 。 4月24日，宣布旗下子公司Tohsen将于 2026年3月全面退出 纤维染色加工业务 。 此外 ...

Core Viewpoint - Liu Haifeng, a manager at Fujian Gulei Petrochemical Co., Ltd., has been recognized as a "National Labor Model" for his significant contributions to the company's ethylene project and his commitment to safety and innovation in chemical production [2][4]. Group 1: Professional Achievements - Liu Haifeng has been involved in the construction, commissioning, and stable operation of the million-ton ethylene project, demonstrating a strong sense of responsibility and technical expertise [3][4]. - He led his team to propose over 1,300 rectification suggestions during the design phase of the polypropylene unit, earning respect from patent holders [3]. - Liu has successfully implemented 15 projects aimed at reducing losses and increasing efficiency, generating over 300 million yuan in economic benefits [7]. Group 2: Safety and Operational Excellence - Under Liu's leadership, the chemical department has identified and rectified over 1,900 issues through safety observations and hazard assessments, achieving four consecutive years of accident-free production [5]. - Liu emphasizes the importance of addressing problems immediately to prevent potential risks, reflecting a proactive safety culture within the company [5]. Group 3: Innovation and Product Development - Liu established a new product development team to create customized and differentiated products, resulting in the development of 13 new products that enhance market competitiveness [8]. - The new products, characterized by high melt index, rigidity, and transparency, have found applications in various sectors, including medical, food, and paper industries, contributing to significant economic benefits [8]. - Liu advocates for increased technological innovation to address the structural oversupply in the polypropylene market, aiming to maintain a competitive edge [8].

编号：2025-005 号 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 活动参与人员 道恩股份总经理：田洪池 道恩股份副总经理、董事会秘书：王有庆 道恩股份证券事务专员：陈浩 参与机构： 华安证券、中银证券、默得生健康投资、中邮证券、鲁创私募、大道兴业、多璨投 资 时间 2025 年 5 月 14 日 10:00-11:30 地点 道恩股份会议室 形式 现场交流 证券代码：002838 证券简称：道恩股份 山东道恩高分子材料股份有限公司投资者关系活动记录表 2 1 1、 公司情况介绍 道恩股份于 2002 年成立，是一家专业从事高性能热塑性弹性体、改性塑料、 色母粒及聚酯材料等功能性高分子复合材料的研发、生产、销售与服务的国家级高 新技术企业。致力于高分子新材料的进口替代及消费升级，产品广泛应用于汽车交 通、家电通讯、航空航天、医疗卫生、大消费、新能源等领域。现有改性塑料年产 能 50 万吨、热塑性弹性体年产能 9 万吨、色母粒及功能母料年产能 3 万吨，共聚 酯材料年产能 6 万吨，布局了再循环产业。 公司于 2006 年研发出国内第 ...