证券代码：600273 股票简称：嘉化能源 编号：2025-060 浙江嘉化能源化工股份有限公司 关于公司 2025 年前三季度主要经营数据的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 浙江嘉化能源化工股份有限公司（以下简称"公司"或"嘉化能源"）主要业 务板块为化工、能源及码头装卸等，根据上海证券交易所发布的《上市公司自律监 管指引第 3 号行业信息披露：第十三号——化工》及相关要求，现将公司 2025 年前 三季主要业务板块经营数据披露如下： 注：1、聚氯乙烯数据未包含贸易； 2、氯作为 PVC 的原材料，以自用为主，后续公告不再作为主要产品对外披露。 二、主要化工产品和原材料的价格变动情况 （一）主要化工产品价格变动情况 板块 主要产品 2025 年前三季度 生产量(万吨) 2025 年前三季 度销售量(万吨) 2025 年前三季度 营业收入(万元) 化工板块 脂肪醇（酸）系列 产品 24.98 23.89 356,847.94 聚氯乙烯 1 27.97 27.59 120,207.26 烧碱（折百） 2 24 ...

Core Insights - The company reported a significant increase in revenue and net profit for the first half of 2025, with total revenue reaching 5.006 billion yuan, up 8.31% year-on-year, and net profit at 581 million yuan, a 9.64% increase [2] - The company plans to distribute a cash dividend of 2 yuan per 10 shares to all shareholders [2] Financial Performance - The company achieved a basic earnings per share of 0.4301 yuan, reflecting a 12.5% increase compared to the previous year [2] - The weighted average return on net assets was 5.62%, an increase of 0.35 percentage points [2] - The net profit margin stood at 11.60%, with a gross profit margin of 17.42%, which improved by 0.49 percentage points year-on-year [3] Product Performance - The sales revenue of fatty alcohol (acid) series products surged by 60.21% to 2.319 billion yuan, driven by high raw material prices [1] - The sulfonated pharmaceutical series products benefited from recovering downstream demand, with sales revenue increasing by 38.18% to 178 million yuan [1] - Conversely, the sales revenue of polyvinyl chloride (PVC) products declined by 15.90% due to falling prices, and steam business revenue decreased by 1.61% linked to coal price adjustments [1] Operational Efficiency - The company's expense ratio decreased by 0.25 percentage points to 5.12%, with management expenses down by 11.28% [3] - Research and development investment increased by 16.80%, indicating a focus on innovation [3] - Despite facing overcapacity pressures in the energy and chemical industry, the company is ensuring full production of core facilities through a combined heat and power cycle economy model and is advancing projects in hydrogen energy and other new fields [3]

Core Performance - In the first half of 2025, the company achieved operating revenue of 5.006 billion yuan, a year-on-year increase of 8.31% [1][4] - The net profit for the same period was 581 million yuan, reflecting a year-on-year growth of 9.64% [1][4] - The primary driver of revenue growth was a 64.22% increase in the average selling price of the main product, fatty alcohol (acid) series [1][4] Product Performance - The fatty alcohol (acid) series produced 162,600 tons, with sales revenue reaching 2.319 billion yuan, a 60.21% increase year-on-year due to high raw material prices [3] - Polyvinyl chloride (PVC) production was 179,800 tons, but sales revenue fell by 15.9% to 706 million yuan due to declining prices influenced by macroeconomic conditions [3] - Caustic soda production was 161,100 tons, with a sales revenue of 407 million yuan, down 8.73% despite an 11.23% price increase [3] - The sulfonated pharmaceutical series produced 12,100 tons, generating sales revenue of 178 million yuan, up 38.18% year-on-year [3] - Sulfuric acid production was 165,000 tons, with a sales revenue of 110 million yuan, benefiting from a 40.87% increase in average selling price [3] - In the energy sector, steam production was 6.426 million tons, with sales revenue of 849 million yuan, a slight decline of 1.61% [3] - Photovoltaic power generation was 11,422.13 million kWh, with sales revenue of 69.7244 million yuan, down 3.63% due to grid connection restrictions [3] Dividend Policy - The company announced a semi-annual distribution plan of 0.2 yuan per share (before tax), totaling 265 million yuan, which represents 45.66% of net profit [1][5] - This marks the 26th cash distribution since the company went public, with cumulative cash dividends exceeding 5.3 billion yuan since 2014 [5][6] Share Buyback - The company completed its 2024 share buyback plan, repurchasing 25.8493 million shares for a total of 197 million yuan [7] - A new buyback plan for 2025 is in place, with an expected total amount between 400 million yuan and 600 million yuan [7] - As of the end of July 2025, the company had repurchased 21.5261 million shares, accounting for 1.59% of total share capital, with a total expenditure of 286 million yuan [7]

Group 1 - The company will hold its second extraordinary general meeting of shareholders in 2025 on August 22, 2025, at 1:00 PM [4][3] - The meeting will be conducted using a combination of on-site and online voting methods [4][5] - The company has proposed amendments to its articles of association, which will be submitted for approval at the shareholders' meeting [1][20] Group 2 - The company plans to distribute a cash dividend of 2 yuan (including tax) for every 10 shares, totaling approximately 265,070,684.40 yuan (including tax) [17][19] - The proposed profit distribution plan is based on the total share capital after deducting shares held in the repurchase account [18][19] - The profit distribution plan requires approval from the extraordinary general meeting of shareholders [20][21] Group 3 - The company has reported a net profit attributable to shareholders of 580,592,815.78 yuan for the first half of 2025 [18] - The company has implemented a share repurchase plan, repurchasing 25,849,343 shares, which is 1.86% of the total share capital [33] - The company emphasizes enhancing investor returns and maintaining a stable profit distribution policy [32][33] Group 4 - The company is actively working on key projects such as the second phase of fatty alcohol and PVC, which are expected to enter trial production in the second half of the year [29] - The company is focusing on clean energy investments and has established a hydrogen energy innovation center to promote technological advancements [30] - The company aims to improve its governance and compliance levels while ensuring timely and accurate information disclosure [27][28]

证券代码：600273 股票简称：嘉化能源 编号：2025-049 浙江嘉化能源化工股份有限公司 关于公司 2025 年半年度主要经营数据的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 浙江嘉化能源化工股份有限公司（以下简称"公司"或"嘉化能源"）主要业 务板块为化工、能源及码头装卸等，根据上海证券交易所发布的《上市公司自律监 管指引第 3 号行业信息披露：第十三号——化工》及相关要求，现将公司 2025 年半 年度主要业务板块经营数据披露如下： 注：1、聚氯乙烯数据未包含贸易； 2、氯作为 PVC 的原材料，以自用为主，后续公告不再作为主要产品对外披露。 板块 主要产品 2025 年上半年生 产量(万吨) 2025 年上半年 销售量(万吨) 2025 年上半年营 业收入(万元) 化工板块 脂肪醇（酸）系列 产品 16.26 15.02 231,917.13 聚氯乙烯 1 17.98 16.01 70,567.42 烧碱（折百） 2 16.11 15.36 40,705.37 磺化医药系列产品 1.21 1.15 17 ...

Group 1 - The company announced that in the first half of the year, it produced 162,600 tons of fatty alcohol (acid) series products and sold 150,200 tons, generating revenue of 2.319 billion yuan, with an average price of 15,436.35 yuan per ton, representing a year-on-year increase of 64.22% [1] - The average price of polyvinyl chloride (PVC) was 4,407.68 yuan per ton, showing a year-on-year decrease of 13.26% [1] - The average price of caustic soda was 2,649.9 yuan per ton, reflecting a year-on-year increase of 11.23% [1]

Company Overview - Zhejiang Jiayuan Energy Chemical Co., Ltd. specializes in the manufacturing and sales of fatty alcohols, polyvinyl chloride (PVC), steam, chlor-alkali products, sulfonated pharmaceuticals, and sulfuric acid [2] - The company also engages in renewable energy generation and hydrogen application equipment development, port handling, and storage services [2] Financial Performance - For Q1 2025, the company reported revenue of 2.361 billion yuan, a year-on-year increase of 12.85% [3] - The net profit for the same period was 276 million yuan, reflecting a year-on-year growth of 30.95% [3] - The sales gross margin stood at 18.43% [3] Market Position - As of July 7, the company's stock closed at 8.85 yuan, with a PE ratio of 11.19, marking a new low in 377 days [1] - The average PE ratio in the chemical products industry is 46.16, with a median of 40.37, placing Jiayuan Energy at 47th in the industry ranking [1] - The total market capitalization of the company is 12.008 billion yuan [1] Institutional Holdings - As of Q1 2025, 32 institutions hold shares in Jiayuan Energy, including 27 funds, 3 others, and 2 insurance companies, with a total holding of 637.1286 million shares valued at 5.135 billion yuan [1]

Group 1 - The core viewpoint of the news highlights that 嘉化能源's stock price closed at 8.5 yuan, with a PE ratio of 11.73, marking a new low in 101 days, and a total market capitalization of 11.824 billion yuan [1] - The average PE ratio for the chemical products industry is 52.93, with a median of 38.20, placing 嘉化能源 at the 52nd position in the industry ranking [1] - As of March 31, 2025, 嘉化能源 had 47,050 shareholders, a decrease of 3,828 from the previous count, with an average holding value of 352,800 yuan and an average holding quantity of 27,600 shares [1] Group 2 - 嘉化能源 specializes in manufacturing and selling products such as fatty alcohols, PVC, steam, chlor-alkali, sulfonated pharmaceuticals, and sulfuric acid, along with subsidiaries involved in new energy generation and hydrogen application equipment [2] - The company has received several accolades, including being ranked 166th among the top 500 petroleum and chemical enterprises in 2024 and 34th among the top 100 basic chemical raw material enterprises [2] - 嘉化能源's latest financial report shows a revenue of 9.153 billion yuan for 2024, a year-on-year increase of 4.32%, while net profit decreased by 14.57% to 1.008 billion yuan, with a gross profit margin of 17.58% [3]