Group 1: Corporate Actions - Mitsubishi Chemical announced the transfer of its wholly-owned subsidiary J-Film Corporation to a special purpose entity of Marubeni Capital Fund III, expected to be completed by December 29, 2025. This decision follows the recent exit from the polyester resin manufacturing business for printer toner, driven by a new mid-term management plan for 2029 [3]. - Evonik has initiated the dissolution and liquidation of its joint venture with Shandong Weilan Biotechnology due to changes in the market environment and unmet operational expectations. The joint venture was established to develop gut health solutions for livestock in the Chinese market [4]. - Hexion reported a 10% workforce reduction as part of cost-cutting measures, including the closure of its maleic anhydride plant in Germany and other downstream facilities in Europe and North America, due to decreased global construction and industrial activity [6]. Group 2: Financial Performance - Mitsubishi Chemical's Q1 2025 sales revenue was 880.65 billion yen, a 13.4% decrease year-on-year, with net profit down 36.1% to 35.968 billion yen, and attributable net profit down 50.5% to 19.627 billion yen, largely impacted by overall economic slowdown and U.S. trade policies [3]. - Evonik's Q2 2025 sales fell by 11% to 3.5 billion euros, with over half of the decline attributed to unfavorable currency fluctuations and the divestment of its superabsorbent polymers business. Adjusted EBITDA decreased by 12% to 509 million euros [4][5]. - Hexion's H1 2025 revenue was $2.868 billion, down 6% year-on-year, with a net loss of $163 million compared to a net loss of $15 million in the same period last year. Adjusted EBITDA fell by 31.1% [6].

Core Viewpoint - The transformative caprolactam technology developed by the Sinopec Petroleum and Chemical Research Institute has been recognized as internationally leading, addressing key challenges in the domestic caprolactam industry [1] Group 1: Industry Challenges - Caprolactam is a crucial monomer for nylon 6, widely used in various sectors, but its production is energy-intensive and environmentally harmful [2] - Historically, China relied on imports for caprolactam, leading to significant investments to establish domestic production, which faced high costs and pollution issues [2] - The domestic caprolactam industry faces three major barriers: low carbon atom utilization and high emissions in traditional cyclohexanone production, technological restrictions on hydrogen peroxide, and quality issues in high-end applications [2] Group 2: Technological Innovations - The research team has pioneered a new cyclohexanone production technology that improves carbon atom utilization from 80% to over 95% and reduces waste emissions by 90% [3] - A novel fluidized bed technology for hydrogen peroxide production has been developed, enhancing safety and efficiency [3] - Key technologies have been created to improve the intrinsic quality of caprolactam, enabling it to meet high-speed spinning requirements and reducing CO2 and waste emissions by 43% and 73% respectively [4] Group 3: Collaborative Development - The successful industrialization of the new caprolactam technology is attributed to a collaborative innovation mechanism involving multiple stakeholders, including Sinopec and various research institutions [5] - The new technology has led to the establishment of the world's largest and most advanced caprolactam production facility, achieving significant reductions in CO2 and pollutant emissions, as well as production costs [5] - In 2024, this transformative technology is set to be recognized as one of the 30 major engineering projects by the Chinese Academy of Engineering [5]

Core Insights - The research team at Tianjin University has developed a high-performance electrocatalyst for the efficient synthesis of green hydrogen peroxide (H2O2), aiming for an "on-demand" production model [1][2] - The global demand for hydrogen peroxide is projected to reach 6 million tons by 2024, with 95% of current production relying on the energy-intensive anthraquinone process, which poses safety and environmental risks [1] Group 1: Research Breakthrough - The team designed a nickel-based metal-organic framework material (Ni-BTA) that utilizes unique interlayer hydrogen bonding to enhance catalytic activity for H2O2 synthesis [1][2] - This innovative "non-coordinative structural regulation" strategy allows for precise control over catalytic reactions, differing from traditional catalysts that rely on metal center electronic structures [2] Group 2: Performance and Applications - The new catalyst demonstrates significantly higher H2O2 production rates in neutral and alkaline environments compared to similar products, achieving a concentration of 1% in artificial seawater and 3% in alkaline solutions [2] - The catalyst can effectively eliminate 100% of pathogenic bacteria, such as E. coli, in physiological saline within 30 minutes and rapidly degrade toxic organic dyes, meeting practical standards for pollution degradation and disinfection [2] Group 3: Future Prospects - The research team is accelerating the industrialization process of this technology, aiming to replace traditional high-pollution methods and provide a "green" solution for medical disinfection and wastewater treatment [2]

Core Viewpoint - The opening of a direct shipping route for hazardous chemicals from Hunan to Russia marks a significant development in logistics and trade efficiency for the region [1][5]. Group 1: Shipping Route Details - A total of 15 containers filled with hydrogen peroxide have set sail from the Yueyang Port to the Slavyanka Port in Vladivostok, Russia, establishing Hunan's first direct shipping route for hazardous chemicals [1]. - This route is expected to stabilize a monthly container throughput growth of 300 TEUs as it matures [2]. Group 2: Logistics and Cost Efficiency - The new shipping route eliminates the need for hazardous chemical exports from Hunan to go through a traditional logistics model involving truck transport to Shenzhen, allowing for a direct "source factory - Chenglingji New Port - Russia" connection [2]. - The comprehensive logistics cost per container has been reduced by 800 yuan while maintaining the same transportation time, providing a more competitive logistics solution for hazardous chemical exports from the northern Hunan region [2]. Group 3: Trade Integration and Efficiency - Since its opening, the Yueyang-Chenglingji to Vladivostok route has evolved from a focus on conventional goods like auto parts and timber to an integrated model of transportation and trade, significantly enhancing trade efficiency and reducing logistics costs [5].

Group 1 - The research team at Tianjin University has developed a high-performance electrocatalyst for the efficient synthesis of green hydrogen peroxide, which is expected to achieve "on-demand" production [1][2] - Hydrogen peroxide is a crucial oxidant and disinfectant with a projected global demand of 6 million tons by 2024, but 95% of its current production relies on the energy-intensive anthraquinone process, posing safety and environmental risks [1][2] - The new electrocatalytic synthesis method utilizes oxygen and water at ambient conditions, addressing the challenges of low activity, poor selectivity, and insufficient stability of traditional catalysts in neutral and alkaline environments [1][2] Group 2 - The developed nickel-based metal-organic framework material features a unique layered structure that forms "interlayer hydrogen bonds," enhancing the catalyst's performance for electrosynthesis of hydrogen peroxide [2] - This innovative approach allows for precise control of catalytic reactions through non-coordinative structural adjustments, offering a new strategy for the development of novel electrocatalytic materials applicable to various chemical reaction systems [2] - Testing indicates that the catalyst significantly outperforms similar products in producing hydrogen peroxide, achieving a concentration of 1% in artificial seawater and 3% in alkaline solutions, meeting practical standards for pollutant degradation and sterilization [2] Group 3 - The new catalyst addresses the high energy consumption and pollution issues associated with traditional production methods, demonstrating good applicability in neutral, alkaline, and complex water environments [3] - The research team is currently optimizing the production process to transition the technology from laboratory to industrial production, aiming to replace traditional high-pollution methods and contribute to green chemical goals [3]

Core Insights - Chinese researchers have developed a high-performance electrocatalyst for the efficient synthesis of green hydrogen peroxide, enabling the possibility of "on-demand" production [1][2] - The research was led by Professor Liang Ji's team at Tianjin University and published in the international journal Nature Communications [1] Group 1: Research and Development - The newly developed catalyst is a nickel-based metal-organic framework material (Ni-BTA) that effectively matches the theoretical optimal value for electrosynthesis of hydrogen peroxide, ensuring high reaction activity while significantly suppressing side reactions [2] - Testing shows that the catalyst can achieve a 100% kill rate of pathogenic bacteria like E. coli in physiological saline within just 30 minutes, and it can rapidly degrade toxic organic dyes [2] Group 2: Industry Implications - This new material addresses the high energy consumption and pollution issues associated with traditional production methods, particularly the energy-intensive anthraquinone process [2] - The research team is working to optimize the production process to transition the technology from the laboratory to industrial production, aiming to replace traditional high-pollution methods and contribute to the goal of "green chemistry" [2]

Core Viewpoint - Researchers have developed a new method for producing hydrogen peroxide using lignin, a waste product from the paper-making process, which is safer and more environmentally friendly compared to traditional methods [1][6]. Group 1: Production Method - The new method utilizes lignin as a raw material and employs an electrochemical coupling process that oxidizes lignin using oxygen from the air to continuously generate hydrogen peroxide [1][2]. - The innovative aspect of this method is the creation of a new type of catalyst from lignin, which significantly enhances the electrolysis efficiency [2][4]. - The production rate of hydrogen peroxide using this new method can reach 11,812 millimoles per gram per hour, with a Faradaic efficiency of 95.7%, meaning 1 gram of catalyst can produce 400 grams of hydrogen peroxide in one hour [4]. Group 2: Energy Source - The system is powered by a biomass fuel cell developed by the research team, which uses lignin as fuel, eliminating the need for external power sources [5][6]. - This self-sustaining system allows for the production of hydrogen peroxide without the need for high temperatures or pressures, making it safer and more efficient [6]. Group 3: Environmental Impact - The new method is more energy-efficient and reduces carbon emissions compared to the traditional anthraquinone process, which requires high energy input and poses safety risks [6]. - The ability to produce hydrogen peroxide on-site eliminates transportation costs and safety hazards associated with moving the chemical [6]. Group 4: Future Directions - The research team aims to optimize the design and operation of the production system, focusing on portable devices for decentralized hydrogen peroxide production [6][7]. - There is also a focus on improving the efficiency and stability of biomass fuel cells, with the goal of converting lignin and other biomass into valuable energy and chemical resources [7].

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。 根据《上海证券交易所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》的相关要求，江阴江化微电子材料股份有限公司（以下简称"公司"） 现将 2025 年第一季度主要经营数据披露如下： 一、主要产品的产量、销量及收入实现情况（不含税）： 证券代码：603078 证券简称：江化微 公告编号：2025-020 江阴江化微电子材料股份有限公司 关于 2025 年第一季度主要经营数据的公告 | 主要产品 | 2025 1-3 | 年 | 月 | 年 月 2024 | 1-3 | 变动比例 | | --- | --- | --- | --- | --- | --- | --- | | | 平均售价（元/吨） | | | 平均售价（元/吨） | | （%） | | 超净高纯试剂 | | | 6,760.74 | | 6,401.21 | 5.62 | | 光刻胶配套试剂 | | | 10,544.84 | | 10,840.87 | -2.73 | 2、主要原材料的价格变动情况（ ...