Core Viewpoint - The company is actively and steadily advancing its expansion projects, addressing investor concerns regarding the lack of announcements on completed production facilities [2]. Group 1: Project Updates - The company has completed the project filing for the annual production of 34,000 tons of polyurethane functional additives and is currently working on environmental assessment and related approval procedures [2]. - The project for the annual production of 40,000 tons of polyether amine (42,000 tons of polyether) has received environmental assessment approval from the Huai'an Ecological Environment Bureau and is still under construction [2]. - The expansion project for the annual production of 35,000 tons of alkyl glycosides has also obtained environmental assessment approval, with site construction, production line design, and customized equipment progressing in an orderly manner [2].

Core Viewpoint - The company has received approval for the environmental impact report of its subsidiary's project to expand the production capacity of alkyl glycosides to 35,000 tons per year, emphasizing the importance of adhering to environmental protection measures during the project development [1][1][1] Group 1 - The approval was granted by the Huai'an Ecological Environment Bureau, indicating a positive regulatory response to the expansion project [1] - The environmental impact report's overall conclusion and proposed ecological protection measures have been generally accepted [1] - The company is required to implement clean production principles and circular economy concepts throughout the project lifecycle, utilizing advanced processes and equipment for production and environmental management [1][1][1] Group 2 - The company will ensure that the subsidiary strictly follows the environmental impact report approval and relevant laws and regulations during project construction [1] - Investors are advised to make cautious investment decisions and be aware of potential investment risks [1]

Core Viewpoint - The company received approval for its environmental impact report regarding the expansion project for producing 35,000 tons of alkyl glycosides, indicating a positive regulatory development for its growth strategy [1] Group 1: Company Developments - The company's wholly-owned subsidiary, Huai'an Chenhua New Materials Co., Ltd., has been granted approval by the Huai'an Ecological Environment Bureau for its environmental impact report [1] - The approval includes a general agreement on the environmental impact assessment conclusions and proposed ecological protection measures for the expansion project [1] Group 2: Environmental Compliance - The company is required to implement clean production principles and circular economy concepts throughout the project’s design, construction, and operational management [1] - It is mandated to adopt advanced processes and equipment to enhance production and environmental management, ensuring compliance with environmental requirements and risk prevention measures [1]

Group 1 - The company, Morning Chemical Co., Ltd. (stock code: 300610), indicated that product prices are influenced by various factors including raw material costs and market supply-demand relationships [1] - Although the price of alkyl glycosides has recently increased, raw material costs have also risen, prompting the company to closely monitor both domestic and international economic conditions and industry trends [1] - The company is committed to actively responding to changes in the market environment [1]

（文章来源：证券日报） 证券日报网讯晨化股份8月15日在互动平台回答投资者提问时表示，公司2024年烷基糖苷的生产装置产 能已基本满负荷。今年6月，公司召开第四届董事会第十八次会议、2025年第一次临时股东会，审议通 过《关于子公司投资建设年产35，000吨烷基糖苷扩建项目的议案》，以全资子公司淮安晨化为建设主 体，投资建设年产35，000吨烷基糖苷扩建项目，建成后公司烷基糖苷年产能达70，000吨。 ...

Core Viewpoint - Despite facing a complex external environment, the company achieved steady growth with a net profit increase of 33.69%, demonstrating strong profitability and market competitiveness [1]. Financial Performance - In the first half of 2025, the company reported operating revenue of 434 million yuan, a slight decrease of 5.62% year-on-year, while net profit attributable to shareholders reached 52.21 million yuan, up 33.69% year-on-year [2]. - The net profit excluding non-recurring gains and losses was 35.88 million yuan, reflecting a 33.85% increase year-on-year, indicating sustained enhancement in core business profitability [2]. - Basic earnings per share were 0.25 yuan, a year-on-year increase of 38.89%, and the weighted average return on net assets was 4.42%, up 0.93 percentage points year-on-year [2]. - The growth in net profit was primarily driven by product structure optimization and improved cost control, with operating costs decreasing by 9.21% year-on-year and significant improvements in gross margins for key products [2]. Innovation and Technology - The company emphasizes technological innovation as a core competitive advantage, adding 2 new invention patents during the reporting period, bringing the total to 98, including 55 invention patents [3]. - Research and development investment reached 20.73 million yuan, a year-on-year increase of 3.38%, reinforcing the commitment to technological advancement [3]. - The company has obtained EU REACH certification, facilitating the expansion of international markets for products such as alkyl glycosides and flame retardants [3]. - In the first half of 2025, international market export revenue accounted for 13.14% of total revenue, indicating significant progress in internationalization [3]. Capacity Expansion and Social Responsibility - The company’s subsidiary completed the renewal of its safety production license and initiated a project to expand the annual production capacity of alkyl glycosides to 70,000 tons, further solidifying its leading position in the eco-friendly surfactant market [3]. - The company invested 60 million yuan to support the development of its subsidiary, reflecting confidence in future market prospects [3]. - The company actively fulfills social responsibilities, focusing on environmental protection and safety production, and has received multiple national and local commendations for its charitable contributions [4]. - The ongoing expansion of production capacity is expected to provide new momentum for future performance growth [4].

Core Viewpoint - The report outlines the financial performance and operational strategies of Yangzhou Chenhua New Materials Co., Ltd. for the first half of 2025, highlighting a decrease in revenue but an increase in net profit, indicating a focus on optimizing product structure and market positioning amidst competitive pressures [1][6]. Financial Performance - The company's revenue for the first half of 2025 was approximately 434.46 million yuan, a decrease of 5.62% compared to 460.33 million yuan in the same period of 2024 [5][21]. - The net profit attributable to shareholders increased by 33.85% to approximately 35.88 million yuan, up from 26.80 million yuan in the previous year [5][21]. - Basic and diluted earnings per share rose by 38.89% to 0.25 yuan per share, compared to 0.18 yuan per share in the previous year [5][21]. - Total assets increased by 5.04% to approximately 1.62 billion yuan from 1.54 billion yuan at the end of the previous year [5][21]. Business Overview - The company primarily engages in the research, production, and sales of fine chemical new materials, focusing on surfactants, flame retardants, and silicone rubber [6][14]. - Key products include alkyl glycosides, polyether amines, and modified silicone oils, which serve various industries such as polyurethane, textiles, and electronics [7][9][11]. - The company emphasizes sustainable development and aims to explore new application scenarios and market fields to meet customer needs [6][14]. Market Position and Strategy - The company operates in the fine chemical industry, which is recognized as a vital and emerging sector with high added value and extensive applications [15][16]. - The demand for fine chemical products is closely linked to the national economy, indicating a stable market for the company's offerings [15][16]. - The company has established a strong reputation in the industry and maintains a stable customer base, including partnerships with well-known enterprises [17][18]. Research and Development - The company has a dedicated R&D team and has obtained a total of 98 patents, including 55 invention patents, reflecting its commitment to innovation [19][20]. - Collaboration with universities and research institutions enhances the company's technological capabilities and product development efficiency [20]. Operational Model - The company adopts a market-oriented production model, focusing on direct sales and customer service to ensure alignment with market demands [12][13]. - A strict procurement system is in place to manage raw material sourcing, ensuring quality and cost control [12][13].

晨化股份（300610.SZ）8月1日在投资者互动平台表示，公司烷基糖苷主要应用于日化、农药、消防、 工业清洗和化妆品等领域，公司暂无直接婴幼儿护肤品应用的客户。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：公司产品是否涉及婴幼儿护肤品应用？ ...

Group 1: Overseas Market Expansion - The company has been exporting products to Europe, America, Oceania, East Asia, Southeast Asia, and Africa, with a focus on expanding in the U.S., Russia, and Central Asia in 2025 [2][3] - Key products for overseas market expansion include polyether amines, alkyl glycosides, and flame retardants [2] Group 2: Production Capacity and Collaborations - The current production capacity for alkyl glycosides is 35,000 tons/year, with the largest sales in the pesticide and daily chemical sectors [3] - The company has established long-term strategic partnerships with several well-known multinational chemical companies, though specific details remain confidential [2] Group 3: Financial Performance and Profit Growth - The company anticipates profit growth in 2025 through innovation and expansion of polyether amine applications, as well as the timely completion of the alkyl glycoside expansion project [3][4] - The company maintains an optimistic outlook for profit trends in the next two years, contingent on the recovery of the chemical industry [3] Group 4: Research and Development Initiatives - Current R&D focuses include promoting polyether amines in specialized fields, with sales exceeding 1 million yuan in 2024, and increasing alkyl glycoside applications in high-end cosmetics [4] - Future R&D projects will target bio-based polyols and biodegradable pressure-sensitive adhesives [5] Group 5: Capacity Utilization and Shareholding - The capacity utilization rate for alkyl glycosides reached 100% in the first half of 2025 [5] - The company secretary holds 184,000 shares, with 84,000 shares from a 2021 incentive plan and 100,000 shares from a 2024 plan [5]

Core Points - The company held its 18th meeting of the 4th Board of Directors on June 6, 2025, to discuss various resolutions related to board elections and company governance [1][2][3] Board Resolutions - The board approved the election of non-independent directors for the 5th Board, nominating five candidates: Yu Zizhou, Dong Xiaohong, Shi Yongbing, Hao Bin, and Lin Qing, with a unanimous vote of 9 in favor [1][2] - The board also approved the election of independent directors for the 5th Board, nominating three candidates: Xu Gaoyan, Yang Weicai, and Liang Lianhua, also with a unanimous vote of 9 in favor [2][3] - The qualifications of both non-independent and independent director candidates were reviewed and deemed compliant with relevant laws and regulations [2][3] Amendments and Capital Changes - The board proposed changes to the company's registered capital and amendments to the Articles of Association, which will require approval at the upcoming shareholder meeting [4][5] - The board also approved the revision and establishment of certain management systems to align with the latest legal requirements and improve governance [4][5] Investment Projects - The company plans to invest in an expansion project for its wholly-owned subsidiary, Huai'an Chenhua New Materials Co., Ltd., aiming for an annual production capacity of 35,000 tons of alkyl glycosides [5][6] Upcoming Shareholder Meeting - The board scheduled the 2025 First Extraordinary General Meeting for June 23, 2025, to discuss the aforementioned proposals and other matters [6]