Core Viewpoint - Suqian Liansheng (603065.SH) announced a delay in the completion of its new materials project due to changes in market conditions and slowed construction progress, pushing the expected operational date from December 2025 to December 2026 [1] Group 1: Project Details - The project aims to produce 12,000 tons of light stabilizers, 5,000 tons of anti-precipitation agents, and 15,000 tons of dimethyl sebacate [1] - As of September 30, 2025, the project has utilized 348.48 million yuan of raised funds, accounting for 74.68% of the planned total investment [1] Group 2: Market Conditions - The primary reason for the delay is the low market price of light stabilizer 770, coupled with the company's annual capacity utilization rate for hindered amine light stabilizers being only 57.35% [1] - The current market environment makes it difficult to achieve the expected economic benefits from the second-phase project, which includes dimethyl sebacate as a key intermediate for light stabilizer 770 [1] Group 3: Historical Context - The project was previously delayed in 2023 due to construction issues stemming from macroeconomic conditions and was further postponed in 2024 due to the downturn in the chemical industry [1]

Group 1 - The core viewpoint of the article highlights the project delays announced by Huitong Co. and Suqian Liansheng, reflecting the companies' strategic adjustments in response to market conditions and operational needs [2][3][4] Group 2 - Huitong New Materials announced on November 18 that the completion date for its "Annual Production of 300,000 Tons of High-Performance Composite Materials Project" has been extended to December 31, 2027. Currently, the project has achieved an annual production capacity of approximately 240,000 tons, reaching 80% of the planned capacity, with a utilization rate exceeding 80% [3] - The delay is attributed to the need for careful planning of fundraising usage in light of the macro market environment and the company's business development, aiming to avoid wasteful expansion of production capacity [3] Group 3 - Suqian Liansheng announced on November 20 that the timeline for its fundraising project, which includes the production of 12,000 tons of light stabilizers, 5,000 tons of anti-aggregation agents, and 15,000 tons of dimethyl sebacate series new materials, has been postponed from December 2025 to December 2026 [4] - The first phase of the project is nearly completed and operational, while the second phase is still under construction. The market competition for light stabilizer 770 is intense, with prices at their lowest in recent years, leading to a current utilization rate of 57.35% for the company's hindered amine light stabilizers [4] - The company has decided to slow down the investment pace of the fundraising project due to the inability to achieve expected economic benefits under the current market conditions [4]

Core Viewpoint - The company announced that it has raised a net amount of 466.6271 million yuan from its initial public offering, with a significant portion of the funds allocated to investment projects, but is facing delays in project timelines due to market conditions [1] Group 1: Fundraising and Investment - The actual net amount raised from the initial public offering is 466.6271 million yuan [1] - As of September 30, 2025, the cumulative investment in projects is 348.4799 million yuan, representing an investment ratio of 74.68% [1] Group 2: Project Delays - The timeline for the project "annual production of 12,000 tons of light stabilizers, 5,000 tons of anti-polymerization agents, and 15,000 tons of dimethyl sebacate series new materials" has been postponed from December 2025 to December 2026 [1] - This marks the third delay for the project, which has been approved by the board of directors and has received no objections from the sponsoring institution [1] - The company has highlighted risks associated with the project's progress not meeting expectations due to intense market competition, low product prices, and underutilization of capacity [1]

注：中间体生产主要用途为自用。 证券代码：603065 证券简称：宿迁联盛 公告编号：2025-065 宿迁联盛科技股份有限公司 关于 2025 年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。 宿迁联盛科技股份有限公司（以下简称"公司"）主营业务为高分子材料防 老化助剂及其中间体的研发、生产与销售，根据上海证券交易所发布的《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》及相 关要求，现将公司 2025 年三季度主要业务板块经营数据披露如下： | 阻聚剂 | 3.27 | 3.64 | -10.16 | -1.59 | | --- | --- | --- | --- | --- | | 中间体 | 2.61 | 2.5 | 4.40 | 18.75 | （二）2025 年三季度公司主要原材料价格变动情况（不含税） | 主要原料 | | 采购均价（万元/吨） | | | 同比变动比率 | 环比变动比率 | | --- | --- | --- | --- | --- | - ...

Core Viewpoint - Suqian Unitech Corp. reported a decline in revenue and net profit for the first half of 2025, attributed to intensified market competition and weak demand from domestic and international customers [3][4]. Financial Performance - Revenue for the first half of 2025 was CNY 627.40 million, a decrease of 13.70% compared to CNY 727.00 million in the same period last year [3]. - Total profit was CNY 11.35 million, down 25.93% from CNY 15.33 million year-on-year [3]. - Net profit attributable to shareholders was CNY 15.45 million, reflecting a 42.84% decline from CNY 27.03 million in the previous year [3]. - Operating cash flow increased significantly to CNY 62.29 million, up 591.32% from CNY 9.01 million [3]. Business Overview - The company specializes in the research, production, and sales of polymer material anti-aging additives, classified under the fine chemical industry [4][5]. - Key products include hindered amine light stabilizers (HALS), compound additives, intermediates, and polymerization inhibitors [4][5]. - HALS products are recognized for their superior light stabilization effects and compatibility with various resins, making them essential in preventing oxidative degradation of polymer materials [4][5]. Market Conditions - The chemical industry is facing overall challenges due to geopolitical conflicts and insufficient recovery in international trade, leading to weak downstream demand [5]. - The company is actively responding to market pressures by expanding its market reach, reducing costs, and enhancing product quality [5]. Research and Development - The company has expanded its R&D efforts beyond HALS to include antioxidants, flame retardants, and UV absorbers, aiming to provide comprehensive anti-aging technology services [5][6]. - Collaborations with high-tech enterprises have led to breakthroughs in intermediate product development, improving product quality and reducing production costs [6][7]. Safety and Environmental Standards - The company maintains high safety and environmental standards, with no recorded production accidents since its establishment [8]. - It has implemented various safety and environmental protection measures, including advanced automated control systems and waste treatment facilities [8]. Competitive Advantage - The company has established itself as a leading manufacturer of light stabilizers, benefiting from economies of scale and a complete production chain from key intermediates to final products [7][9]. - A stable supply chain enhances the company's competitiveness and helps mitigate risks associated with rising production costs [7][9].

Core Viewpoint - The announcement provides an overview of the operational data for the first half of 2025 for Suqian Liansheng Technology Co., Ltd., focusing on production, sales, and revenue of its main products in the polymer materials sector [1]. Group 1: Main Products Performance - The production and sales figures for key products are as follows: - Hindered Amine Light Stabilizers: Production of 10,995.43 tons, sales of 8,230.32 tons, and revenue of 360.79 million yuan - Compound Formulations: Production of 3,868.15 tons, sales of 3,714.67 tons, and revenue of 121.54 million yuan - Antioxidants: Production of 983.02 tons, sales of 3,225.32 tons, and revenue of 9.57 million yuan - Intermediates: Production of 20,460.16 tons, sales of 2,165.14 tons, and revenue of 8.32 million yuan [1]. Group 2: Price Changes of Main Chemical Products - The average prices and their changes for key chemical products are as follows: - Hindered Amine Light Stabilizers: Average price of 43,800 yuan/ton, with a quarter-on-quarter decrease of 8.37% and a year-on-year decrease of 6.21% - Compound Formulations: Average price of 32,700 yuan/ton, with a quarter-on-quarter decrease of 10.90% and a year-on-year decrease of 7.37% - Antioxidants: Average price of 33,700 yuan/ton, with a quarter-on-quarter decrease of 2.60% and a year-on-year decrease of 13.59% - Intermediates: Average price of 26,000 yuan/ton, with a quarter-on-quarter increase of 1.17% and a year-on-year increase of 0.39% [1]. Group 3: Price Changes of Raw Materials - The average prices and their changes for main raw materials are as follows: - Aliphatic Amines: Average price of 28,200 yuan/ton, with a quarter-on-quarter decrease of 8.44% and a year-on-year decrease of 3.75% - Aliphatic Ketones or Alcohols: Average price of 5,200 yuan/ton, with a quarter-on-quarter decrease of 7.14% and a year-on-year decrease of 22.39% - Organic Acids: Average price of 24,300 yuan/ton, with a quarter-on-quarter increase of 10.45% and a year-on-year increase of 20.90% - Nitrogen-containing Heterocycles: Average price of 8,700 yuan/ton, with a quarter-on-quarter decrease of 25.64% and a year-on-year decrease of 14.71% - Aliphatic Cyclic Anhydrides: Average price of 8,200 yuan/ton, with a quarter-on-quarter decrease of 21.15% and a year-on-year decrease of 11.83% [1].

证券代码：603065 证券简称：宿迁联盛 公告编号：2025-055 宿迁联盛科技股份有限公司 关于 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。 宿迁联盛科技股份有限公司（以下简称"公司"）主营业务为高分子材料防 老化助剂及其中间体的研发、生产与销售，根据上海证券交易所发布的《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》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：中间体生产主要用途为自用。 二、主要化工产品和原材料的价格变动情况 （一）2025 年半年度公司主要化工产品价格变动情况（不含税） | 主要产品 | | | 平均售价（万元/吨） | | | 同比变动比率 （%） | 环比变动比率 （%） | | --- | --- | --- | --- | --- | --- | --- | --- | | | 年 2025 | 1-6 | 月 | 年 2024 1-6 | 月 | | | | 受阻胺光稳定剂 | 4.3 ...

宿迁联盛科技股份有限公司 关于 2024 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。 证券代码：603065 证券简称：宿迁联盛 公告编号：2025-030 宿迁联盛科技股份有限公司（以下简称"公司"）主营业务为高分子材料防老 化助剂及其中间体的研发、生产与销售，根据上海证券交易所发布的《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》及相关 要求，现将公司 2024 年度主要业务板块经营数据披露如下： 注：本年度中间体生产主要用途为自用； 二、主要化工产品和原材料的价格变动情况 （一）2024 年度公司主要化工产品价格变动情况（不含税） | 主要产品 | | 平均售价（万元/吨） | | 同比变动比率 （%） | 四季度与三季度环比 | | --- | --- | --- | --- | --- | --- | | | 2024 | 年 | 2023 年 | | 变动比率（%） | | 受阻胺光稳定剂 | 4.73 | | 5.18 | -8.69 | 6.94 | ...

证券代码：603065 证券简称：宿迁联盛 公告编号：2025-031 | 主要产品 | | | 平均售价（万元/吨） | | | | 同比变动比率 （%） | 环比变动比率 （%） | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 年 2025 1-3 | | 月 | 2024 | 年 1-3 | 月 | | | | 受阻胺光稳定剂 | | 4.57 | | | 4.78 | | -4.39 | -7.30 | | 复配制剂 | | 3.54 | | | 3.69 | | -4.07 | 2.61 | | 阻聚剂 | | 3.65 | | | 3.24 | | 12.65 | -5.44 | 1 主要产品 生产量（吨） 销售量（吨） 营业收入（万元） 受阻胺光稳定剂 4,702.06 3,709.94 16,963.52 复配制剂 1,708.90 1,747.51 6,177.67 阻聚剂 136.75 417.40 1,522.85 中间体 8,749.76 601.05 1,648.01 一、主要产品的产量、销量及收入实现情况 ...

Core Insights - The 37th China International Plastics and Rubber Industry Exhibition (2025 International Plastics and Rubber Exhibition) concluded successfully, with Yuanli Chemical Group showcasing its green high-performance products and innovative solutions, gaining widespread acclaim from attendees [1][2] - The exhibition attracted over 4,500 exhibitors and more than 280,000 professional visitors, covering various fields such as injection molding, smart manufacturing, 3D technology, recycling technology, bio-based and recycled plastics, composite materials, thermoplastic elastomers, and rubber [1] - Yuanli Technology presented a range of products including hindered amine light stabilizers (HALS), anti-blocking agents, and bio-based products, emphasizing their chemical stability, environmental friendliness, multifunctionality, and durability [1][2] Product Highlights - Yuanli Technology's anti-aging product series, including HALS and anti-blocking agents, offers comprehensive protection for plastics, rubber, coatings, fibers, and adhesives [1] - The company introduced new bio-based products such as bio-based PCDL (polycarbonate diol) and bio-based plasticizers, which have significant advantages over traditional petrochemical products in terms of performance and environmental impact, leading to substantial reductions in carbon emissions [2] Strategic Goals - Yuanli Technology aims to leverage the exhibition as an opportunity to expand its domestic and international market presence, enhance brand influence and recognition, and lay a solid foundation for high-quality development [2]