中泰化学的经营现金流大幅下滑。2025年前三季度，公司经营现金流净额为13.94亿元，同比减少28.49 亿元。 中泰化学将如何解压？ 资产负债率64.71%财务承压 按照约定回购子公司股权，中泰化学的财务将进一步承压。 长江商报消息 ●长江商报记者 沈右荣 履行约定，中泰化学（002092.SZ）拟回购子公司股权。 12月17日晚，中泰化学发布公告，拟以12亿元收购控股子公司新疆华泰重化工有限责任公司（以下简 称"华泰公司"）15.173%股权。 本次收购华泰公司股权，属于按照约定的回购。2019年12月，华泰公司增资扩股，引进了农银金融资产 投资有限公司（简称"农银投资"）等三家机构入股，合计融资12亿元，借此，中泰化学降低了整体资产 负债率。 时过6年，耗资12亿元回购，中泰化学的财务将承压。截至2025年9月末，公司资产负债率为64.71%， 虽然期末货币资金有68.29亿元，但对应的有息负债达249.35亿元。 中泰化学的经营业绩持续承压。2023年以来，公司持续亏损。2025年前三季度，公司实现的归母净利润 为-1.79亿元，仍未扭亏为盈。 如今，时过6年，根据当时相关退出条款的约定，中泰化学拟以 ...

但近年来，鸿达兴业在资本市场上则多次被爆出负面消息。2023年9月，鸿达兴业因涉嫌信息披露违规 被中国证监会立案调查；2024年1月，鸿达兴业股票收盘价连续二十个交易日低于1元/股，触发强制退 市规定；2024年3月18日，鸿达兴业正式摘牌退市。 上市公司违规，保荐投行连带受罚的案例正在愈发常见。 12月7日晚，第一创业（002797）证券股份有限公司（简称"第一创业"）公告称，全资子公司第一创业 证券承销保荐有限责任公司（简称"一创投行"），因对保荐的上市公司负连带责任，被江苏证监局罚没 近1700万元，两名相关责任人分别被罚150万元，合计罚没近2000万元。 此前，10月31日，第一创业就曾披露，一创投行于10月29日被证监会立案，因其在鸿达兴业股份 （603928）有限公司（简称"鸿达兴业"）2019年可转债项目中，涉嫌持续督导业务未勤勉尽责。据公开 资料，鸿达兴业母公司鸿达兴业集团的前身是成立于1991年的化工资源产业集团，总部位于广东。鸿达 兴业则成立于1995年12月，总部位于江苏省扬州市，主营聚氯乙烯树脂、纯碱、水泥等化工产品，并涉 及土壤修复、氢能源等领域，于2004年6月在深交所上市。 与 ...

一是擅自改变2019年募集资金用途；二是2019年至2022年年度报告、2023年半年度报告及相应期间募集 资金存放与实际使用情况的专项报告、关于归还募集资金的公告存在虚假记载；三是鸿达兴业未及时披 露重大诉讼、仲裁及重大担保事项进展情况。 因此，鸿达兴业被责令改正、给予警告，并处以1850万元罚款；鸿达兴业董事长兼总经理周奕丰被给予 警告，并被处以2200万元罚款。其余责任人则被处以50万元至600万元罚款不等。 上市公司违规，保荐投行连带受罚的案例正在愈发常见。 12月7日晚，第一创业证券股份有限公司（简称"第一创业"）公告称，全资子公司第一创业证券承销保 荐有限责任公司（简称"一创投行"），因对保荐的上市公司负连带责任，被江苏证监局罚没近1700万 元，两名相关责任人分别被罚150万元，合计罚没近2000万元。 此前，10月31日，第一创业就曾披露，一创投行于10月29日被证监会立案，因其在鸿达兴业股份有限公 司（简称"鸿达兴业"）2019年可转债项目中，涉嫌持续督导业务未勤勉尽责。 来源：第一创业 据公开资料，鸿达兴业母公司鸿达兴业集团的前身是成立于1991年的化工资源产业集团，总部位于广 东。鸿达兴 ...

Core Viewpoint - Zhongyan Chemical's stock price has shown fluctuations, with a recent increase of 2.05% and a total market capitalization of 12.405 billion yuan, despite a year-to-date increase of 9.20% and a recent decline of 6.10% over the last five trading days [1] Financial Performance - For the period from January to September 2025, Zhongyan Chemical reported operating revenue of 8.773 billion yuan, a year-on-year decrease of 8.32%, and a net profit attributable to shareholders of 57.8348 million yuan, down 89.92% year-on-year [2] - Cumulative cash dividends since the company's A-share listing amount to 2.364 billion yuan, with 1.143 billion yuan distributed over the last three years [3] Shareholder Structure - As of September 30, 2025, the number of shareholders decreased by 11.24% to 65,700, while the average circulating shares per person increased by 12.73% to 22,309 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited as the third-largest shareholder with 9.7688 million shares, and new entrants such as Zhongou Yingxuan Stable 6-Month Holding Mixed Fund and Huaxia CSI 1000 ETF [3] Stock Performance - Zhongyan Chemical's stock has experienced a 6.10% decline over the last five trading days, but a 6.28% increase over the last 20 days, and a slight increase of 0.83% over the last 60 days [1] - The stock's trading volume reached 137 million yuan with a turnover rate of 1.12% [1] Business Overview - Zhongyan Chemical, established on December 31, 1998, and listed on December 22, 2000, operates primarily in the salt chemical industry, with main products including sodium metal, soda ash, and PVC resin [1] - The company's revenue composition includes soda ash and its by-products (50.75%), resin products (27.76%), sodium products (9.72%), and other chemical products [1] Industry Classification - Zhongyan Chemical is classified under the basic chemical industry, specifically in the chemical raw materials and inorganic salts sector, with involvement in various concept sectors such as salt chemicals and lithium batteries [1]

Core Viewpoint - Zhongtai Chemical's stock price has shown fluctuations, with a year-to-date increase of 9.74% but a recent decline of 7.98% over the last five trading days [2] Group 1: Stock Performance - As of November 25, Zhongtai Chemical's stock price rose by 2.16% to 4.73 CNY per share, with a trading volume of 215 million CNY and a turnover rate of 1.79%, resulting in a total market capitalization of 12.251 billion CNY [1] - The stock has experienced a year-to-date increase of 9.74%, a decline of 7.98% over the last five trading days, a slight increase of 0.64% over the last 20 days, and a decrease of 3.07% over the last 60 days [2] Group 2: Financial Performance - For the period from January to September 2025, Zhongtai Chemical reported operating revenue of 21.246 billion CNY, a year-on-year decrease of 5.55%, while the net profit attributable to shareholders was -179 million CNY, reflecting a year-on-year increase of 48.51% [2] - The company has distributed a total of 2.222 billion CNY in dividends since its A-share listing, with 259 million CNY distributed over the last three years [3] Group 3: Shareholder Information - As of November 10, 2025, Zhongtai Chemical had 91,500 shareholders, an increase of 0.30% from the previous period, with an average of 28,161 circulating shares per shareholder, a decrease of 0.30% [2] - Notable institutional holdings include Dongfanghong New Power Mixed A, which is the sixth-largest circulating shareholder with 12.706 million shares, and Hong Kong Central Clearing Limited, the tenth-largest with 9.814 million shares, both of which are new shareholders [3]

Group 1 - The core point of the news is that Zhongyan Chemical's stock price dropped by 5.1% to 8.37 CNY per share, with a trading volume of 249 million CNY and a turnover rate of 1.99%, resulting in a total market capitalization of 12.273 billion CNY [1] - Zhongyan Chemical, established on December 31, 1998, and listed on December 22, 2000, is located in Alashan, Inner Mongolia, and primarily engages in salt chemical business, with main products including sodium metal and soda ash [1] - The revenue composition of Zhongyan Chemical includes soda ash and its by-products at 50.75%, resin products at 27.76%, sodium products at 9.72%, chlor-alkali products at 9.19%, and other categories [1] Group 2 - From the perspective of major circulating shareholders, Southern Fund's Southern CSI 1000 ETF (512100) reduced its holdings by 137,500 shares in the third quarter, now holding 8.0469 million shares, which accounts for 0.55% of circulating shares [2] - The estimated floating loss for Southern CSI 1000 ETF today is approximately 3.6211 million CNY [2] - Southern CSI 1000 ETF, established on September 29, 2016, has a latest scale of 76.63 billion CNY, with a year-to-date return of 24.71% and a one-year return of 18.97% [2]

Core Viewpoint - Junzheng Group's stock has experienced fluctuations, with a current price of 5.18 CNY per share and a market capitalization of 43.709 billion CNY, reflecting a year-to-date increase of 1.37% and a recent decline of 3.36% over the past five trading days [1]. Financial Performance - For the period from January to September 2025, Junzheng Group reported a revenue of 18.691 billion CNY, representing a year-on-year growth of 1.63%. The net profit attributable to shareholders was 2.798 billion CNY, showing a significant increase of 24.93% compared to the previous year [2]. Shareholder Information - As of September 30, 2025, the number of shareholders for Junzheng Group reached 184,700, an increase of 3.03% from the previous period. The average number of circulating shares per shareholder decreased by 2.94% to 45,682 shares [2]. Dividend Distribution - Since its A-share listing, Junzheng Group has distributed a total of 14.479 billion CNY in dividends, with 5.485 billion CNY distributed over the past three years [3]. Institutional Holdings - As of September 30, 2025, Hong Kong Central Clearing Limited was the fourth largest circulating shareholder, holding 97.318 million shares, a decrease of 7.1485 million shares from the previous period. The fifth largest shareholder, Hongli Low Volatility (512890), increased its holdings by 8.048 million shares to 70.2073 million shares [3].

Core Viewpoint - The stock price of Zhongyan Chemical has shown fluctuations, with a recent decline of 2.02% and a year-to-date increase of 12.56% [1][2]. Group 1: Stock Performance - As of November 18, Zhongyan Chemical's stock price is 8.72 CNY per share, with a market capitalization of 12.786 billion CNY [1]. - The stock has increased by 1.63% over the last five trading days, 11.22% over the last 20 days, and 9.27% over the last 60 days [2]. Group 2: Financial Performance - For the period from January to September 2025, Zhongyan Chemical reported a revenue of 8.773 billion CNY, a year-on-year decrease of 8.32%, and a net profit attributable to shareholders of 57.8348 million CNY, down 89.92% year-on-year [2]. - The company has distributed a total of 2.364 billion CNY in dividends since its A-share listing, with 1.143 billion CNY distributed in the last three years [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders is 65,700, a decrease of 11.24% from the previous period, with an average of 22,309 circulating shares per shareholder, an increase of 12.73% [2]. - The top circulating shareholders include Hong Kong Central Clearing Limited and Southern CSI 1000 ETF, with notable changes in their holdings [3].

Core Viewpoint - Zhongyan Chemical's stock price has shown a significant increase this year, with a 16.17% rise, indicating positive market sentiment despite a decrease in revenue and net profit [1][2]. Financial Performance - For the period from January to September 2025, Zhongyan Chemical reported a revenue of 8.773 billion yuan, a year-on-year decrease of 8.32% [2]. - The net profit attributable to shareholders was 57.83 million yuan, reflecting a substantial year-on-year decline of 89.92% [2]. Stock Market Activity - As of November 17, Zhongyan Chemical's stock price was 9.00 yuan per share, with a trading volume of 2.58 billion yuan and a turnover rate of 2.00% [1]. - The company experienced a net outflow of 9.02 million yuan in principal funds, with significant buying and selling activity from large orders [1]. Shareholder Structure - As of September 30, 2025, the number of shareholders decreased by 11.24% to 65,700, while the average circulating shares per person increased by 12.73% to 22,309 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited and Southern CSI 1000 ETF, with notable changes in their holdings [3]. Dividend Distribution - Since its A-share listing, Zhongyan Chemical has distributed a total of 2.364 billion yuan in dividends, with 1.143 billion yuan distributed over the past three years [3]. Business Overview - Zhongyan Chemical, established on December 31, 1998, primarily engages in salt chemical business, with major products including sodium metal and soda ash [1]. - The revenue composition includes soda ash and its by-products (50.75%), resin products (27.76%), sodium products (9.72%), and others [1]. Industry Classification - Zhongyan Chemical is classified under the basic chemical industry, specifically in the chemical raw materials sector focusing on inorganic salts [1]. - The company is associated with several concept sectors, including salt chemicals, lithium batteries, state-owned enterprise reforms, and nuclear power [1].

目前，天能化工有限公司实现质量控制全覆盖，主要产品聚氯乙烯树脂的优等品率达到100%，片粒碱 合格率100%，一级品率100%。（陈晓晨） 11月10日，天能化工有限公司（化工一厂）聚氯乙烯成品包装车间内一派繁忙生产景象，5条全自动生 产线满负荷运转。年初至今，该公司凭借过硬的产品品质和良好信誉，生产的聚氯乙烯及烧碱销售呈持 续走高良好态势。 一直以来，天能化工有限公司对产品质量高度重视，企业通过严把原料、产品、生产过程质量控制关， 全面推进全员质量管理，形成了原料-生产过程-产品的全链条质量管控。"氯乙烯品质提升""节能降碳型 汽提技术优化改造升级"等一系列重点项目的实施落地，进一步优化了生产系统流程，高效能释放装置 集群综合效益，确保装置稳产高产。公司生产的"天业"牌SG-5型聚氯乙烯树脂荣获中国石油和化学工业 联合会"绿色产品"称号，"天业"牌烧碱通过国家质量管理、环境管理、职业健康安全管理以及知识产权 管理"四合一"体系认证。公司先后荣获中国石油和化工行业"绿色工厂"、自治区"安康杯"优胜企业、兵 团守合同重信用企业、兵团工业企业100强等荣誉称号。 ...