Core Viewpoint - The coal-to-ethylene glycol (EG) industry in China is experiencing continuous expansion and fluctuating growth, driven by the country's abundant coal resources and increasing market demand, with production expected to rise significantly by 2024 [1][12]. Overview - The coal-to-EG process utilizes coal as a primary raw material to produce ethylene glycol, which is widely used in various applications such as polyester fibers and antifreeze [2][4]. Development Background - China's energy structure, characterized by abundant coal but limited oil and gas, has led the government to promote coal-to-EG to reduce reliance on imported oil and ensure energy security, while also facing stricter environmental regulations under the "dual carbon" strategy [4]. Industry Chain 1. Industry Chain Structure - The coal-to-EG industry includes upstream suppliers of coal, oxygen, water, catalysts, and production equipment, with the downstream market primarily consisting of ethylene glycol applications [6]. 2. Upstream - Coal is the main raw material for coal-to-EG production, with China's coal output projected to reach 4.759 billion tons in 2024, a year-on-year increase of 2.17%, ensuring a stable supply for the industry [8]. 3. Downstream - Polyester is the largest consumer market for coal-to-EG, accounting for over 80% of consumption, with an annual growth rate of 7.09% in production capacity from 2016 to 2024 [10]. Current Development Status - The production of coal-to-EG in China is expected to increase from 1 million tons in 2016 to 3.988 million tons in 2024, with market size growing from 4.367 billion yuan to 15.365 billion yuan during the same period [12]. Competitive Landscape 1. Overall Landscape - The coal-to-EG enterprises are primarily located in resource-rich regions such as Inner Mongolia, Shanxi, Shaanxi, and Xinjiang, with 17 companies accounting for 66.4% of the total production capacity in 2024 [14]. 2. Representative Enterprises Analysis - **Shanxi Coal Group Yulin Chemical Co., Ltd.**: Established in December 2017, it operates a significant coal-to-EG project with a capacity of 1.8 million tons per year [16]. - **Xinjiang Tianye Co., Ltd.**: Focuses on a diversified green economy, with projected revenues of 11.16 billion yuan and a gross profit of 1.256 billion yuan in 2024 [18]. Development Trends - Future coal-to-EG enterprises are expected to increase investment in technology R&D, improve catalyst performance, and adopt advanced environmental technologies to achieve green transformation and comply with stricter regulations [20].

Group 1 - The core revenue composition of Xinjiang Tianye for the year 2024 is as follows: Industrial accounts for 93.96%, Commercial for 3.34%, Other businesses for 1.78%, and Transportation for 0.92% [1] Group 2 - Xinjiang Tianye announced that its ninth board meeting will be held on August 15, 2025, in a hybrid format of in-person and video conference [3]

Group 1 - The company held its 13th board meeting on August 15, 2025, with all 9 directors present, and approved several resolutions [1] - The company issued convertible bonds named "Tianye Convertible Bonds" on June 23, 2022, with a trading period from December 29, 2022, to June 22, 2028 [1] - As of June 30, 2025, the total number of shares increased from 1,707,361,781 to 1,707,362,663 due to the conversion of 882 shares from the convertible bonds [2] Group 2 - The company revised its articles of association to comply with updated regulations, including changes to its business scope and governance structure, such as eliminating the supervisory board [3][4] - The company proposed to authorize relevant personnel to handle changes in registration and articles of association as required by regulatory authorities [4] - The company plans to revise its shareholder meeting rules to enhance governance and ensure compliance with legal requirements [5] Group 3 - The company is considering a project in the Tenhu Tan New Materials Industrial Park, which may lead to potential competition with its controlling shareholder, Tianye Group [6] - The project, with an investment of approximately 14 billion yuan, represents 68.21% of the company's latest audited total assets, indicating significant investment risk [7] - The board agreed to partially exempt Tianye Group from its commitment to avoid competition, allowing for a new commitment to mitigate potential conflicts [7][8] Group 4 - The company intends to sign a "Cultivation Agreement" with Tianye Group, allowing the latter to undertake the investment and construction of the project without financial burden on the company [8][10] - The board's decision to proceed with the agreement was supported by independent directors and the strategic committee, ensuring compliance with regulations [8][10]

Group 1 - The company held its ninth supervisory board meeting on August 15, 2025, with all five supervisors present, and the meeting was chaired by Wang Wei [2] - The supervisory board approved the proposal to dissolve the supervisory board and its working rules, transferring its powers to the audit committee of the board of directors, pending approval from the shareholders' meeting [2][3] - The decision to dissolve the supervisory board is in line with recent legal and regulatory updates, aiming to enhance the company's operational standards [2][4] Group 2 - The company is considering a project by its controlling shareholder, Tianye Group, to build a low-carbon transformation upgrade demonstration project in the Tenhu Tan New Materials Industrial Park, which may lead to potential business competition [3][4] - The project has a total investment of approximately 14 billion yuan, representing 68.21% of the company's latest audited total assets, indicating significant investment risk [4] - The supervisory board agreed to partially exempt Tianye Group from its commitment to avoid competition, believing that this decision aligns with legal regulations and will not adversely affect the company's operations or minority shareholders' interests [4][6] Group 3 - The company plans to sign a "Cultivation Agreement" with Tianye Group, allowing the latter to undertake the investment and construction of the demonstration project, with the company not bearing any costs [6][7] - The supervisory board confirmed that the decision-making process for this related party transaction complies with relevant laws and regulations, ensuring it does not harm the company's operational situation or minority shareholders' interests [6][7]

重要内容提示： 债券代码：110087 债券简称：天业转债 新疆天业股份有限公司 关于召开2025年第二次临时股东大会的通知 ? 股东大会召开日期：2025年9月1日 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。 ? 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票系统 一、召开会议的基本情况 （一）股东大会类型和届次 （二）股东大会召集人：董事会 （三）投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 证券代码：600075 证券简称：新疆天业 公告编号：2025-063 无 （四）现场会议召开的日期、时间和地点 召开的日期时间：2025 年 9 月 1 日 12 点 30 分 召开地点：新疆石河子经济技术开发区北三东路 36 号公司办公楼 10 楼会议室 （五）网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 9 月 1 日 至2025 年 9 月 1 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投 ...

具体修订内容详见：《新疆天业股份有限公司股东会议事规则》修订对照表。 特此公告。 关于修订《股东大会议事规则》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。 新疆天业股份有限公司（以下简称"公司"） 于 2025 年 8 月 15 日召开九届十三 次董事会，审议通过关于修订《新疆天业股份有限公司股东大会议事规则》的议案。 为了规范公司行为，保证股东会依法行使职权，根据《中华人民共和国公司法》《中 华人民共和国证券法》《上市公司股东会规则》《新疆天业股份有限公司章程》的规定， 结合公司实际情况，拟对《新疆天业股份有限公司股东大会议事规则》制度名称及相关 条款进行修订。 关于修订《新疆天业股份有限公司股东大会议事规则》的议案，尚需提交公司股东 大会审议。 新疆天业股份有限公司 | 证券代码：600075 | 股票简称：新疆天业 | 公告编号：临 2025-059 | | --- | --- | --- | | 债券代码：110087 | 债券简称：天业转债 | | 新疆天业股份有限公司 新疆天业股份有限公司董事会 2025 ...

新疆天业股份有限公司 《新疆天业股份有限公司股东会议事规则》修订对照表 | | 删除线代表删减；黑色加粗代表新增 | | | --- | --- | --- | | 修订前 | 修订后 | 修订依据 | | 第一条 为了规范新疆天业股份有限公 | 第一条 为了规范新疆天业股份有限 | | | 司（以下简称"公司"）行为，保证股东大会 | 公司（以下简称"公司"）行为，保证股东 | / | | 依法行使职权，根据《公司法》、《证券法》、《上市公 | 会依法行使职权，根据《中华人民共和国 | | | 司股东大会规则》、《新疆天业股份有限公司章程》 | 公司法》（以下简称《公司法》）、《中华人 | | | （以下简称公司章程）的规定，制定本规则。 | 民共和国证券法》（以下简称《证券法》）、 | | | | 《上市公司股东会规则》《新疆天业股份有 | | | | 限公司章程》（以下简称公司章程）的规定， | | | | 制定本规则。 | | | | 第二条 公司股东会的召集、提案、 | 《上市公司股东会规则》第二条 | | 新增 | 通知、召开等事项适用本规则。 | 上市公司股东会的召集、提案、通知、 | | | ...

新疆天业股份有限公司（以下简称"公司"） 于 2025 年 8 月 15 日召开九届十三 次董事会，审议通过关于修订《新疆天业股份有限公司董事会议事规则》的议案。 为了进一步规范公司董事会的议事方式和决策程序，促使董事和董事会有效地履行 其职责，提高董事会规范运作和科学决策水平，根据《中华人民共和国公司法》《中华 人民共和国证券法》《上市公司治理准则》《上市公司独立董事管理办法》和《上海证券 交易所股票上市规则》《上海证券交易所上市公司自律监管指引第 1 号——规范运作》 以及《新疆天业股份有限公司章程》等有关规定，结合公司实际情况，拟对《新疆天业 股份有限公司董事会议事规则》中相关条款进行修订。 关于修订《新疆天业股份有限公司董事会议事规则》的议案，尚需提交公司股东大 会审议。 具体修订内容详见：《新疆天业股份有限公司董事会议事规则》修订对照表。 新疆天业股份有限公司 证券代码：600075 股票简称：新疆天业 公告编号：临 2025-060 债券代码：110087 债券简称：天业转债 新疆天业股份有限公司 关于修订《董事会议事规则》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 ...

1 新疆天业股份有限公司 | | 第二条 公司董事会各项法定职权应当由董事会 | 《规范运作》2.2.4 上市 | | --- | --- | --- | | 新增 | 集体行使，不得授权他人行使，不得以公司章程、股 | 公司董事会各项法定职权应 | | | 东会决议等方式变更或者剥夺。 | 当由董事会集体行使，不得授 | | | | 权他人行使，不得以公司章 | | | | 程、股东大会决议等方式加以 | | | | 变更或者剥夺。 | | | | 公司章程规定的董事会 | | | | 其他职权，涉及重大事项的， | | | | 应当进行集体决策，不得授予 | | | | 董事长、总经理等其他主体行 | | | | 使。 | | | | 董事会授权董事长在董 | | | | 事会闭会期间行使董事会部 | | | | 分职权的，应当在公司章程中 | | | | 明确规定授权的原则和具体 | | | | 内容。 | | / | 第二章 董事会的组成和产生 | 《公司法》第一百二十条 | | | 第三条 董事会由 9 名董事组成，其中职工董事 | 股份有限公司设董事会，本 | | | 1 名，独立董事 3 名，董 ...

新疆天业股份有限公司 证券代码：600075 股票简称：新疆天业 公告编号：临 2025-062 债券代码：110087 债券简称：天业转债 新疆天业股份有限公司 关于公司与控股股东签订《代为培育协议》暨关联交易的公告 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。 ● 公司拟与控股股东天业集团签订《代为培育协议》，委托天业集团或其直接或 者间接控制的除公司及其控股子公司以外的公司代为培育在新疆石河子市十户滩新材 料工业园区建设的智能生态光伏耦合绿色特种树脂低碳转型升级示范工程（一期），由 天业集团或下属承建示范工程的子公司承担投资建设示范工程的培育费用及资金，公司 不承担任何费用及资金。 ● 天业集团为公司控股股东，本次交易构成关联交易。 ● 本次交易不构成重大资产重组。 ● 本次关联交易已经公司独立董事专门会议、董事会战略委员会、九届十三次董 事会、九届十次监事会审议通过，尚需提交公司股东大会审议。 ● 截至本次关联交易（不含本次关联交易），过去 12 个月内，公司未与同一关联 人或不同关联人发生过相同类别下标的相关的关联 ...