Group 1 - The company announced a capital increase of 376 million yuan for its subsidiary, Longhua High Polymer Materials Co., Ltd., through the introduction of 42 investors, with a new registered capital of 313 million yuan [1] - The investment amount per registered capital of 1 yuan is set at 1.20 yuan, indicating a premium for the investment [1] - Longhua New Materials will relinquish its preferential subscription rights but will maintain a 65.69% controlling stake in Longhua High Polymer after the capital increase [1][2] Group 2 - The purpose of the capital increase is to support the construction of the Nylon 66 project, enhance employee motivation, and share investment risks with investors [2] - The capital increase aligns with the company's strategic planning and will not change the scope of the consolidated financial statements [2] - Longhua New Materials focuses on the research, production, and sales of high-performance, environmentally friendly new materials, particularly in the field of polyether polyols and polymer polyols [2] Group 3 - The company plans to issue convertible bonds to raise up to 960 million yuan for expanding polyether production capacity [2] - Current production capacity for end amino polyether is 40,000 tons per year, which will be increased to 140,000 tons per year through the new investments [3] - The expansion projects include a technical upgrade to increase capacity from 60,000 tons to 100,000 tons per year and a new project to produce 200,000 tons of environmentally friendly polyether series products [3]

Core Viewpoint - Longhua New Materials (隆华新材) is planning to raise capital through its wholly-owned subsidiary, Shandong Longhua Polymer Materials Co., Ltd. (隆华高材), to support the construction of its Nylon 66 project and enhance employee motivation while sharing investment risks with new investors [1][2]. Group 1: Capital Increase Details - Longhua New Materials announced a capital increase of 313 million RMB, with a total investment amount of 376 million RMB from 42 new investors [1]. - The new investors will pay 1.20 RMB for every 1 RMB of registered capital [1]. - Longhua New Materials will waive its preferential subscription rights but will maintain a 65.69% controlling stake in Longhua Polymer after the capital increase [1][2]. Group 2: Purpose of Capital Increase - The capital increase aims to provide strong support for the Nylon 66 project, enhance employee engagement, and mitigate investment risks by sharing opportunities and risks with investors [2]. - Longhua New Materials emphasized that the capital increase aligns with its overall strategic planning and will not change the consolidation scope of the company [2]. Group 3: Expansion Plans - Longhua New Materials plans to issue convertible bonds to raise up to 960 million RMB for expanding its polyether production capacity [2]. - The existing production capacity for end amino polyether is 40,000 tons per year, which will be increased to 140,000 tons per year through various projects [3]. - The expansion includes a technical transformation project to increase capacity by 60,000 to 100,000 tons per year and a new project to produce 200,000 tons of environmentally friendly polyether products [3].

Core Viewpoint - The meeting highlighted the innovation and development of the polyurethane industry in Zibo, showcasing its leading advantages and the establishment of a complete industrial chain [1][3]. Group 1: Industry Development - Zibo is one of the earliest regions in China to introduce polyurethane raw material production technology, with a leading domestic technical level and several leading enterprises such as Sinochem Dongda, Yinuowei, and Longhua New Materials [3]. - The Zibo polyurethane industry chain is comprehensive, covering various types of polyether polyols, polyester polyols, polymer polyols, polyurethane compounds, prepolymers, thermoplastic elastomers, and downstream applications like pipeline insulation materials and plastic track engineering services [3]. Group 2: Economic Performance - In the first half of 2025, 24 large-scale polyurethane enterprises in Zibo achieved a total operating income of 17.6 billion yuan [3]. Group 3: Future Plans - Zibo plans to implement five major projects focusing on expanding advantages, extending the industrial chain, promoting key projects, enhancing innovation capabilities, and building industry brand [4].

Core Viewpoint - The report provides an overview of the fundraising and usage of proceeds by Changhua Chemical Technology Co., Ltd. as of June 30, 2025, confirming compliance with regulatory guidelines and detailing the financial activities related to the raised funds [1][2]. Fundraising Overview - The company raised a total of RMB 902,537,500 through the issuance of 35.05 million shares at RMB 25.75 per share, with actual proceeds after underwriting fees amounting to RMB 851,450,471.70 [2][3]. - The total amount available for use after deducting various fees was RMB 825,059,369.81 [3]. Fund Usage - As of June 30, 2025, the company utilized RMB 651,633,283.81 for investment projects, with a remaining balance of RMB 184,345,219.18 [3][4]. - The company has made changes to its investment projects, notably terminating the "R&D Center Construction Project" and reallocating funds to the "Carbon Dioxide Polyether and High-Performance Polyol Project (Phase I)" [4][5]. Project Details - The "Carbon Dioxide Polyether and High-Performance Polyol Project" is planned in two phases, with total estimated investments of RMB 586,249,000, including RMB 437,252,000 for construction [5]. - The first phase includes the construction of facilities with a capacity of 80,000 tons/year for carbon dioxide polyether and 300,000 tons/year for polyether polyol, while the second phase will expand the capacity further [5]. Financial Management - The company has also engaged in cash management of temporarily idle funds, allowing for investment in low-risk financial products, with a maximum of RMB 50 million allocated for such purposes [10]. - The report indicates that the company has pre-invested RMB 121,347,500 of its own funds into projects before the public offering, which will be replaced by the raised funds [12]. Economic Benefits - The projects funded by the raised capital are expected to enhance the company's operational capabilities and market competitiveness, although some projects, like the R&D center, do not directly generate economic benefits [11][12]. - The expansion of the polymer polyol project has already begun to yield revenue, with reported income of RMB 39,572,170 for the first half of 2025 [12][14].

Summary of Key Points Core Viewpoint The report outlines the usage of funds raised by Changhua Chemical Technology Co., Ltd. through its initial public offering, detailing the total amount raised, expenses incurred, and the allocation of funds to various projects, including a significant shift in investment focus towards a new project involving carbon dioxide polyether and high-performance polyols. Group 1: Fundraising and Allocation - The company raised a total of RMB 902,537,500.00 by issuing 35.05 million shares at RMB 25.75 each, with net proceeds after underwriting fees amounting to RMB 851,450,471.70 [1][2]. - After deducting various expenses, the actual usable funds were RMB 825,059,369.81, with a remaining balance of RMB 184,345,219.18 as of June 30, 2025 [1][2]. Group 2: Project Changes and Investments - In April 2024, the company decided to terminate the original fundraising project for the "Research and Development Center" and redirect the funds towards the "Carbon Dioxide Polyether and High-Performance Polyols Project (Phase I)" [2][3]. - The total investment for the new project is estimated at RMB 586,249.00 million, with Phase I expected to cost RMB 331,377.00 million [4]. Group 3: Financial Management and Efficiency - The company has implemented cash management strategies for temporarily idle funds, allowing for investment in low-risk financial products, with a maximum of RMB 50,000 million allocated for such purposes [6]. - The report indicates that the company has pre-invested RMB 121,347,500.00 of its own funds into projects before the public offering funds were available, which will be replaced by the raised funds [6]. Group 4: Economic Benefits and Performance - The report highlights that the "Carbon Dioxide Polyether and High-Performance Polyols Project" is expected to enhance the company's research capabilities and market competitiveness, although the R&D center itself does not directly generate economic benefits [7][8]. - The company anticipates that the new project will improve production efficiency and expand market share, contributing positively to overall profitability [8].

Core Viewpoint - Changhua Chemical Technology Co., Ltd. plans to issue shares to specific investors in 2025 to raise funds for projects aimed at promoting green and sustainable development, particularly focusing on carbon-neutral and circular economy initiatives [12][13][17]. Group 1: Issuance Overview - The company intends to raise a total of up to 230 million RMB through this issuance, with the net proceeds allocated to specific projects after deducting related issuance costs [23][26]. - The issuance will be conducted under a simplified procedure and requires approval from the Shenzhen Stock Exchange and the China Securities Regulatory Commission [1][2]. - The final issuance targets will be determined based on the board's authorization and market conditions, with a maximum of 35 specific investors eligible to participate [19][20]. Group 2: Project Background and Purpose - The issuance is aligned with China's "dual carbon" goals, aiming for peak carbon emissions by 2030 and carbon neutrality by 2060, reflecting a global shift towards sustainable practices [12][13]. - The company aims to develop carbon dioxide polyether products, which utilize CO2 as a raw material, thereby reducing reliance on fossil fuels and supporting the transition to a circular economy [16][28]. - The project is expected to enhance the company's product structure, meet market demand for high-performance, carbon-neutral products, and improve overall competitiveness in the polyurethane industry [17][27]. Group 3: Financial and Market Implications - The successful implementation of the fundraising project is anticipated to expand the company's business scale and enhance profitability, contributing to sustainable development [18][19]. - The company plans to leverage its existing customer base in automotive and high-end furniture sectors to increase sales of the new carbon-neutral products, thereby enhancing brand loyalty and market presence [18][28]. - The project is expected to improve the company's financial structure, reduce debt levels, and increase its capacity to withstand market risks [18][19].

长华化学科技股份有限公司 上市公告书 股票简称：长华化学 股票代码：301518 长华化学科技股份有限公司 Changhua Chemical Technology Co., Ltd. （住所：江苏省张家港市扬子江国际化工园北京路 20 号） 上市公告书 保荐人（主承销商） （住所：苏州工业园区星阳街 5 号） 二〇二三年八月 1 长华化学科技股份有限公司 上市公告书 特别提示 首次公开发行股票并在创业板上市 之 长华化学科技股份有限公司（以下简称"长华化学"、"公司"、"本公司" 或"发行人"）股票将于 2023 年 8 月 3 日在深圳证券交易所上市。 创业板公司具有业绩不稳定、经营风险高、退市风险大等特点，投资者面临 较大的市场风险。投资者应充分了解创业板市场的投资风险及本公司所披露的风 险因素，审慎做出投资决定。 本公司提醒投资者应充分了解股票市场风险及本公司披露的风险因素,在新 股上市初期切忌盲目跟风"炒新"，应当审慎决策、理性投资。 如无特别说明，本上市公告书中的简称或名词释义与《长华化学科技股份有 限公司首次公开发行股票并在创业板上市招股说明书》（以下简称"招股说明书"） 中的相同。如本上市公告 ...