【DT新材料】 获悉，10月14日， 长华化学 发布《2025年度以简易程序向特定对象发行股票预案(修订稿)》，拟募集资金总额不超过1.55亿元，扣除 发行费用后的募集资金净额将用于 二氧化碳聚醚项目（一期） 。 据悉，本项目实施主体为发行人全资子公司 长华化学科技（连云港）有限公司 ，项目总投资额74,294.85万元，建成后将形成年产 8万吨二氧化碳聚 醚的产能规模， 满足公司对于高性能绿色聚醚产品的生产需求。 通过该项目，公司将逐步转型为提供兼具高性能、碳中和与可循环特性的聚氨酯解 决方案供应商，进而增强客户粘性和品牌价值。 2022至2024年，聚醚行业整体需求保持增长态势，总需求量复合增长率达15.15%，其中出口增长势头尤为强劲； 但受行业产能同质化扩张引发价格 竞争加剧、上游原材料价格波动等因素影响，行业整体盈利水平有所下滑 。对此，聚醚企业除通过降本增效增强盈利能力外，更需开发契合市场需求 的高端产品，优化产品结构以提升综合竞争力。与此同时，绿色低碳发展已成为全社会共识，碳足迹管理体系的建立推动下游客户对低碳产品的需求 显著提升。 近年来，"双碳"成为全球化工行业转型升级目标，国际化工巨头纷纷 ...

Core Points - The new regulation aims to fulfill the Vienna Convention for the Protection of the Ozone Layer and the Montreal Protocol, targeting the elimination of HCFC-141b as a blowing agent in polyurethane products by January 1, 2026 [1][2] - The polyurethane foam industry is a major consumer of ozone-depleting substances, specifically HCFCs, with HCFC-141b being the most significant due to its high ozone depletion potential (ODP) of 0.11 [2] - China has already achieved the first and second phase elimination targets, freezing HCFC-141b consumption in the polyurethane foam industry at baseline levels in 2013 and reducing it by 80% by 2023 [2] Industry Overview - The polyurethane foam industry includes various sectors such as refrigerated containers, refrigerators, electric water heaters, insulation pipes, solar water heaters, and more [1][2] - The majority of companies in the board production sector are small to medium-sized enterprises, with around 250 companies primarily located in Jiangsu, Zhejiang, Shandong, and Henan [3] - Since 2011, multilateral fund grants have supported 21 board production companies in replacing HCFC-141b, resulting in the elimination of approximately 3,644 tons, which is 29.2% of the total HCFC-141b that needs to be phased out in this sector [3] Progress and Remaining Challenges - Additional estimates suggest that companies have transitioned or utilized their own funds to eliminate around 8,750 tons of HCFC-141b, leaving less than 50 tons remaining to be phased out in the board sector, which is less than 0.4% of the total [4] - The spray foam sector also consists mainly of small to medium-sized enterprises, with about 300 companies located in Shandong, Jiangsu, Beijing, and Hebei [4] - Since 2011, grants have supported four spray foam companies in eliminating approximately 226 tons of HCFC-141b, accounting for 2.5% of the total required elimination in this sector [4] Alternatives and Future Plans - There are various mature alternatives to HCFC-141b available in the polyurethane foam industry, including hydrocarbons, water, hydrofluorocarbons, and fluorinated olefins, which have been successfully applied for years [5] - The cost of hydrocarbons and water-based blowing agents is relatively low, while hydrofluorocarbons and fluorinated olefins are more expensive [5] - In 2025, multilateral fund grants will support 15 combination ether companies in technical upgrades to eliminate HCFC-141b and promote alternative products in the relevant sectors [5]

Core Viewpoint - The Ministry of Ecology and Environment has proposed a ban on the production of polyurethane products using HCFC-141b as a foaming agent, effective from January 1, 2026, with specific exceptions for certain products [1] Group 1: Regulatory Changes - Starting January 1, 2026, the production of polyurethane products using HCFC-141b as a foaming agent will be prohibited, excluding spray polyurethane foam products [1] - For refrigerator, cold storage container, and electric water heater products, manufacturers must comply with the regulations outlined in the 2018 announcement regarding HCFC-141b [1] - The ban on spray polyurethane foam products using HCFC-141b will take effect on July 1, 2026 [1] Group 2: Product-Specific Regulations - The production of insulation pipe products and solar water heater products must adhere to the guidelines set forth in the 2023 announcement regarding HCFC-141b [1]