华昌化工(002274) - 002274华昌化工投资者关系管理信息20250509

Group 1: Project Updates - The 300,000 tons polyol project is currently under construction and is expected to reach operational status by Q3 2025 [1] - The company has completed the demonstration application of 103 hydrogen transport vehicles, including 38 buses, 60 heavy trucks, and 5 tractors [1] Group 2: Hydrogen Energy Investment - Hydrogen energy is considered a future industry supported by government policies; the company is cautiously investing in this sector [1] - Initial registered capital for the subsidiary Huachang Energy was 30 million yuan, with the company holding a 70% stake; a capital financing round in 2022 raised approximately 105 million yuan [2] Group 3: Hydrogen Station Operations - A hydrogen refueling station with a capacity of 500 kg/d has been built and is operational, supplying hydrogen at 25 yuan/kg [2] - The company is collaborating with the port group to establish a green zero-carbon hydrogen refueling station [2] Group 4: Financial Management - The company's asset-liability ratio has decreased due to improved management of receivables and inventory, alongside strong operating cash flow [2] - The company maintains a dividend policy of 3 yuan for every 10 shares, with future dividends dependent on operational performance [2] Group 5: Operational Challenges - Scheduled maintenance in Q2 is expected to impact performance, as it is part of annual cyclical maintenance and preparation for future projects [2] - The company is closely monitoring external factors, including tariff impacts, which complicate performance predictions for the year [2]