2025 年 4 月 10 日，公司办理完成注册资本变更和《公司章程》 备案的工商登记手续，并取得宜昌市市场监督管理局换发的营业执照， 公司注册资本由 1,082,914,712 元减少至 1,082,509,712 元，营业执照 其他信息不变。 特此公告。 湖北宜化化工股份有限公司 董 事 会 2025 年 4 月 11 日 湖北宜化化工股份有限公司 关于变更注册资本及修订《公司章程》的 进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 湖北宜化化工股份有限公司（以下简称"公司"）于 2025 年 1 月 20 日召开的第十届董事会第四十四次会议、2025 年 2 月 7 日召开的 2025 年第一次临时股东会审议通过了《关于变更注册资本及修订<公 司章程>的议案》，同意根据公司回购注销部分限制性股票的实际情 况，公司总股本由 1,082,914,712 股减少至 1,082,509,712 股，公司注 册资本由人民币 1,082,914,712 元减少至人民币 1,082,509,712 元，并 结合公司总股本、注册资本变更情况和经营管理需要，对《 ...

证券代码：000422 证券简称：湖北宜化 公告编号：2025-039 本公司及董事会全体成员保证信息披露内容的真实、准确、 完整，没有虚假记载、误导性陈述或重大遗漏。 三、风险提示 特别提示： 湖北宜化化工股份有限公司（以下简称"公司"）于 2024 年 12 月 12 日在巨潮资讯网披露的《湖北宜化化工股份有限公司重大资产购 买暨关联交易报告书（草案）》（以下简称"本次交易草案"）及其 摘要中已对本次交易可能存在的风险因素及尚需履行的决策和审批 程序进行了说明，敬请广大投资者注意投资风险。 一、本次交易概述 公司控股股东湖北宜化集团有限责任公司（以下简称"宜化集团"） 为履行承诺责任、解决与公司之间的同业竞争问题，同时进一步提升 公司的资产质量和盈利能力，拟由公司以现金方式向宜化集团购买其 拥有的宜昌新发产业投资有限公司（以下简称"宜昌新发投"）100% 股权。本次交易完成后，公司将取得宜昌新发投及新疆宜化化工有限 公司（以下简称"新疆宜化"）的控制权，合计持有新疆宜化股权比例 由 35.597%上升至 75%。具体内容详见巨潮资讯网 2024 年 12 月 12 日《湖北宜化化工股份有限公司重大资产购买 ...

特此公告。 湖北宜化化工股份有限公司 本公司及董事会全体成员保证信息披露内容的真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 为践行长江大保护，落实沿江 1 公里化工企业"关改搬转"任务， 同时进一步盘活存量资产、优化资源配置，经履行国有资产评估项目 备案及相关审批程序，湖北宜化化工股份有限公司（以下简称"公司"） 及全资子公司湖北宜化肥业有限公司（以下简称"宜化肥业"）将部 分资产通过协议转让的方式转让给湖北宜化集团化工机械设备制造 安装有限公司（以下简称"化机公司"）。 化机公司为公司控股股东湖北宜化集团有限责任公司的全资子 公司，根据《深圳证券交易所股票上市规则》相关规定，化机公司为 公司关联法人，前述资产转让构成关联交易。资产转让具体情况如下： | 序 | 关联 | 交易内容 | 交易金额 | 董事会审议情况 | 披露索引 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 号 | 方 | | （万元） | | | | | | | | | | 1 | 化机 | 公司 ...

Core Viewpoint - Hubei Yihua's 2024 annual report shows a slight decline in revenue but a significant increase in net profit, raising questions about the sustainability of its core business performance [1][2]. Financial Performance - In 2024, Hubei Yihua achieved operating revenue of 16.964 billion yuan, a year-on-year decrease of 0.48% [1][2]. - The net profit attributable to shareholders was 653 million yuan, an increase of 44.32% year-on-year, but the net profit excluding non-recurring items was only 427 million yuan, down 10.58% year-on-year [1][2]. - The company reported a significant loss in the fourth quarter, with a non-recurring net profit loss of 131 million yuan, a year-on-year decline of 187.1% [1][2]. Business Segment Analysis - The fertilizer segment saw a revenue of 2.773 billion yuan for urea, down 13.08%, with a gross margin decrease of 7.81 percentage points to 19.98% [3]. - Phosphate diammonium showed resilience with a revenue of 4.879 billion yuan, up 6.87%, and a gross margin increase of 6.17 percentage points to 19.90% [3]. - In the chemical products segment, PVC revenue was 4.130 billion yuan, down 8.59%, with a gross margin of -8.79% [3]. Market Environment - The chemical industry is facing intense competition and fluctuating market conditions, impacting Hubei Yihua's performance [4]. - External factors such as raw material price volatility and changing market demand have increased the difficulty in cost control and production planning [4]. Cash Flow and Debt Situation - Hubei Yihua's operating cash flow net amount was 768 million yuan, a decrease of 52.8% year-on-year, with negative cash flow in the fourth quarter [6]. - As of the end of 2024, the total liabilities were 17.925 billion yuan, with a debt-to-asset ratio of 67.1%, an increase of 12.48% year-on-year [7]. - The company has significant ongoing projects, with construction in progress amounting to 4.5 billion yuan, representing 16.85% of total assets [7].

Group 1 - Company will hold an online performance briefing for the year 2024 on April 17, 2025, from 15:00 to 16:00 [1] - The briefing aims to provide investors with a comprehensive understanding of the company's production and financial status for 2024 [1] - Investors can submit questions for the briefing starting from April 11, 2025, until the end of the meeting [2] Group 2 - Company has approved a total external guarantee limit of up to 1,233,587.20 million yuan for 2024, with specific allocations based on the debt-to-asset ratio of subsidiaries [5] - In March 2025, the company provided guarantees totaling 84,400.00 million yuan for its subsidiaries, which is within the approved limits [6] - The total external guarantee balance as of the announcement date is 1,025,994.53 million yuan, representing 139.36% of the company's latest audited net assets [15]

为充分尊重投资者，加强与广大投资者的沟通，提高会议互动效 果，现就公司 2024 年度业绩说明会提前向投资者公开征集问题，广 泛听取投资者的意见或建议。投资者可于 2025 年 4 月 11 日起至会议 结束前登录"互动易"平台，或扫描下方二维码，进入公司 2024 年 度网上业绩说明会页面进行提问，公司将在本次业绩说明会上对投资 者普遍关注的问题进行回复，欢迎广大投资者积极参与。 证券代码：000422 证券简称：湖北宜化 公告编号：2025-037 湖北宜化化工股份有限公司 关于召开 2024 年度网上业绩说明会的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 湖北宜化化工股份有限公司（以下简称"公司"）已于 2025 年 4 月 3 日在巨潮资讯网（http://www.cninfo.com.cn/）披露了《2024 年 年度报告》。为便于广大投资者更全面深入地了解公司 2024 年度生 产经营情况及财务状况，公司定于 2025 年 4 月 17 日（星期四）15:00- 16:00 举行 2024 年度网上业绩说明会。本次说明会将采用网络远程文 ...

证券代码：000422 证券简称：湖北宜化 公告编号：2025-038 湖北宜化化工股份有限公司 关于对外担保的进展公告 （一）公司与金融机构签署的银团贷款保证合同 债权人：上海浦东发展银行股份有限公司宜昌分行 中信银行股份有限公司宜昌分行 湖北宜化集团财务有限责任公司 本公司及董事会全体成员保证信息披露内容的真实、准确、 完整，没有虚假记载、误导性陈述或重大遗漏。 一、担保情况概述 湖北宜化化工股份有限公司（以下简称"公司"）于 2024 年 5 月 6 日召开的 2023 年度股东大会审议通过《关于 2024 年度对外担保 额度预计的议案》，于 2024 年 7 月 11 日召开的 2024 年第四次临时 股东会审议通过《关于新增 2024 年度对外担保额度预计的议案》， 同意 2024 年度公司为控股子公司及参股公司提供总计不超过 1,233,587.20 万元的担保额度，其中对资产负债率大于 70%的控股子 公司提供 543,000.00 万元担保额度，对资产负债率小于或等于 70% 的控股子公司提供 680,357.20 万元担保额度，对资产负债率小于或等 于 70%的部分参股公司提供 10,230 ...

Core Viewpoint - Hubei Yihua (000422.SZ) has significantly improved its profitability through continuous enhancement of industrial chain collaboration, despite a slight decline in revenue for 2024. Group 1: Financial Performance - In 2024, Hubei Yihua achieved operating revenue of 16.964 billion yuan, a slight decrease of 0.48% year-on-year, while net profit attributable to shareholders reached 653 million yuan, an increase of 44.32% [1][2] - The company plans to distribute a cash dividend of 2 yuan per 10 shares, totaling 217 million yuan, which accounts for 33.18% of the net profit for 2024 [5] - The total assets of the company at the end of 2024 were 26.713 billion yuan, a year-on-year increase of 24.40%, and the equity attributable to shareholders was 7.362 billion yuan, up 11.88% [2] Group 2: Business Strategy - Hubei Yihua focuses on its core business by repurchasing minority stakes in its subsidiary Yihua Fertilizer, investing in phosphate and ammonium projects, and divesting low-relevance assets [1][2] - The company aims to achieve an operating revenue of no less than 18 billion yuan in 2025 by optimizing resource allocation and enhancing operational efficiency [1] Group 3: Product and Market Position - Hubei Yihua is a leading player in the nitrogen fertilizer industry, with urea production capacity of 1.56 million tons per year and a market share ranking fourth in the country for diammonium phosphate [2] - The company has a PVC production capacity of 720,000 tons per year, ranking among the top ten in China, and a global second position in the production of pentaerythritol [2] Group 4: Research and Development - The company emphasizes R&D, with R&D expenses reaching 813 million yuan in 2024, a year-on-year increase of 10.45% [3] - Hubei Yihua has developed new products and technologies, including a high-purity gypsum production process and various specialty resins [3] Group 5: Shareholder Returns - Hubei Yihua has established a dual-driven system of "cash dividends + market value management" to enhance shareholder returns [5] - The company has committed to a cash dividend totaling no less than 30% of the annual net profit for the next three years, ensuring a consistent return to investors [5]

Group 1: Company Performance and Financials - In 2024, the company achieved a net profit of CNY 653 million, a year-on-year increase of 44.32% [1] - Earnings per share reached CNY 0.6108, up 30.29% compared to the previous year [1] - Total assets amounted to CNY 26.713 billion, reflecting a 24.40% year-on-year growth [1] - Shareholder equity was CNY 7.362 billion, with an 11.88% increase year-on-year [1] - The weighted average return on equity was 9.18%, up 0.96% from the previous year [1] Group 2: Production Capacity and Product Lines - The company has an annual production capacity of 1.56 million tons of urea, 1.26 million tons of diammonium phosphate, 720,000 tons of PVC, and 690,000 tons of caustic soda [2] - The company is the largest producer of seasonal products like urea and diammonium phosphate in Asia, with significant market share [9] Group 3: Strategic Initiatives and Projects - The company is implementing a strategic upgrade and transformation plan, including the construction of a fluorosilicon industrial park and the shutdown of unprofitable PBAT operations [1][2] - Ongoing projects include the relocation and upgrading of various production facilities, such as a 200,000 tons/year phosphoric acid project and a 40,000 tons/year phosphoric fertilizer project [2] Group 4: Market Position and Competitive Advantages - The company has established a stable sales network in international markets, including Japan, South Korea, and Southeast Asia, with a premium pricing strategy [3] - The company benefits from a circular economy model, integrating upstream and downstream operations to reduce costs and enhance profitability [8] - The company has a strong brand presence, with its "Yihua" brand recognized as a national famous trademark [14] Group 5: Future Plans and Shareholder Returns - The company plans to distribute a cash dividend of CNY 2 per 10 shares, totaling approximately CNY 217 million, which represents 33.18% of the net profit for 2024 [6] - A three-year shareholder return plan has been established, aiming for annual cash dividends of no less than 30% of the net profit [7] Group 6: Environmental and Technological Commitment - The company is committed to ecological and green development, investing in environmental protection and clean production technologies [13] - The company has developed 393 patents, including 75 invention patents, and collaborates with 16 universities and research institutions to enhance technological innovation [11]

Investment Rating - The report maintains an "Outperform" rating for Hubei Yihua Chemical Industry, with a target price of Rmb 17.85, representing an 8% upside from the current price of Rmb 13.00 [2][11]. Core Insights - The recurring net profit for 2024 decreased by 10.58% year-on-year, while the net profit attributable to the parent company increased by 44.32% [7][11]. - The company plans to acquire 100% equity of Yichang Xinfa, which will increase its stake in Xinjiang Yihua to 75%, enhancing future earnings potential [10][11]. - The company benefits from rising prices of pentaerythritol, with significant increases in market prices observed [9]. Financial Performance Summary - In 2024, the company achieved operating revenue of Rmb 16.964 billion, a slight decrease of 0.48% year-on-year, with a gross profit margin of 13.74%, up 1.08 percentage points [7][8]. - The net profit forecast for 2025-2027 is Rmb 1.1 billion, Rmb 1.378 billion, and Rmb 1.579 billion respectively, with a projected P/E ratio of 17.5 for 2025 [11][11]. - The company plans to distribute a dividend of Rmb 0.2 per share, totaling Rmb 216.5 million, with a payout ratio of 33.18% [7][11]. Product Performance Breakdown - Urea revenue in 2024 was Rmb 2.773 billion, down 13.08% year-on-year, with a gross margin of 19.98% [8]. - Other chlor-alkali products generated Rmb 1.534 billion in revenue, a decrease of 10.18%, but with a sales volume increase of 31.61% [8]. - Polyvinyl chloride (PVC) revenue was Rmb 4.130 billion, down 8.59%, while diammonium phosphate (DAP) revenue increased by 6.87% to Rmb 4.879 billion [8].