Core Viewpoint - Hubei Yihua plans to invest 2.233 billion yuan in a high-value utilization project for phosphorus and fluorine resources and issue convertible bonds to raise 3.3 billion yuan [1][2] Financial Performance - For the first three quarters of 2025, Hubei Yihua reported total revenue of 19.167 billion yuan, a year-on-year decrease of 3.25% [1] - The net profit attributable to shareholders was 812 million yuan, down 23.89% year-on-year [1] - The net profit after deducting non-recurring items was 516 million yuan, a decline of 7.49% year-on-year [1] - Management expenses increased by 10.35% to 680 million yuan, while R&D expenses decreased by 27.10% to 593 million yuan [1] - Financial expenses rose by 4.31% to 373 million yuan, with interest expenses at 421 million yuan and interest income at 52 million yuan [1] Cash Flow Analysis - The net cash flow from operating activities was 3.117 billion yuan, a decrease of 3.16% year-on-year [1] - The net cash flow from investing activities was -3.431 billion yuan, primarily due to expenditures on fixed and intangible assets totaling 3.457 billion yuan [1] - The net cash flow from financing activities was -2.031 billion yuan, attributed to a reduction in net bank borrowings [1] Project Investment Details - The investment of 2.233 billion yuan will fund the construction of a phosphorus and fluorine resource high-value utilization project, which includes various production facilities [2] - The project aims to address sulfuric acid shortages and inefficient steam utilization, promoting high-value utilization of phosphorus and fluorine resources [2] - The financing plan includes issuing up to 3.3 billion yuan in convertible bonds, with proceeds allocated to the high-value utilization project, a potassium dihydrogen phosphate project, and to supplement working capital and repay debts [2]

Group 1 - Hubei Yihua (SZ 000422) held its 54th meeting of the 10th board of directors on October 24, 2025, to discuss the proposal for issuing convertible bonds to unspecified targets [1] - For the first half of 2025, Hubei Yihua's revenue composition was as follows: chemical fertilizer manufacturing accounted for 39.93%, chemical products 36.08%, other industries 12.07%, and coal products 11.92% [1] - As of the report date, Hubei Yihua's market capitalization was 14.5 billion yuan [1] Group 2 - The Chinese innovative drug sector has generated $80 billion in overseas licensing deals this year, indicating a robust market for biopharmaceuticals [1] - Despite the hot secondary market for biopharmaceuticals, the primary market is experiencing a cooling in fundraising activities [1]

Group 1 - Hubei Yihua announced a provision for asset impairment of approximately 119 million yuan, which will reduce the company's consolidated profit before tax for the first three quarters of 2025 by the same amount [1] - The provision for asset impairment has not been audited by an accounting firm, and the final amount will be confirmed by the audit [1] - As of the report date, Hubei Yihua has a market capitalization of 14.5 billion yuan [1] Group 2 - For the first half of 2025, Hubei Yihua's revenue composition is as follows: chemical fertilizer manufacturing accounts for 39.93%, chemical products for 36.08%, other industries for 12.07%, and coal products for 11.92% [1]

Core Viewpoint - Hubei Yihua plans to issue convertible bonds to raise up to 3.3 billion yuan for various projects and debt repayment [1] Group 1: Fundraising Details - The company intends to raise a total of no more than 3.3 billion yuan through the issuance of convertible bonds [1] - The funds will be allocated to the high-value utilization of phosphorus and fluorine resources project, a 50,000 tons/year monoammonium phosphate project, working capital replenishment, and debt repayment [1]

湖北宜化化工股份有限公司 向不特定对象发行可转换公司债券方案的论证分析报告 证券代码：000422 证券简称：湖北宜化 湖北宜化化工股份有限公司 向不特定对象发行可转换公司债券方案的 论证分析报告 $$\Xi{\cal O}\,{\underline{{{=}}}}\,\Xi\,\rlap{/}\,\Xi+\rlap{/}\,\Xi$$ 湖北宜化化工股份有限公司 向不特定对象发行可转换公司债券方案的论证分析报告 目 录 | 一、本次发行证券及其品种选择的必要性 2 | | | --- | --- | | （一）本次发行证券选择的品种 | 2 | | （二）本次发行选择可转换公司债券的必要性 | 2 | | 二、本次发行对象的选择范围、数量和标准的适当性 | 2 | | （一）本次发行对象的选择范围及其适当性 | 2 | | （二）本次发行对象的数量的适当性 | 3 | | （三）本次发行对象的标准的适当性 | 3 | | 三、本次发行定价的原则、依据、方法和程序的合理性 | 3 | | （一）本次发行定价的原则合理 | 3 | | （二）本次发行定价依据的合理性 | 5 | | （三）本次发行定价方法和程序的 ...

证券代码：000422 证券简称：湖北宜化 公告编号：2025-114 湖北宜化化工股份有限公司 关于向不特定对象发行可转换公司债券 预案披露的提示性公告 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 10 月 24 日召开第十届董事会第五十四次会议，审议通过了《向不特定 对象发行可转换公司债券预案的议案》等相关议案。具体内容详见巨 潮资讯网（http://www.cninfo.com.cn）同日公告。 公司本次向不特定对象发行可转换公司债券预案等相关披露事 项不代表审核、注册部门对于本次发行相关事项的实质性判断、确认、 批准或注册，公司本次向不特定对象发行可转换公司债券相关事项的 生效和完成尚须公司股东会审议通过、深圳证券交易所审核通过并经 中国证券监督管理委员会同意注册后方可实施。敬请广大投资者注意 投资风险。 特此公告。 湖北宜化化工股份有限公司 董 事 会 2025 年 10 月 24 日 ...

湖北宜化化工股份有限公司 向不特定对象发行可转换公司债券预案 证券代码：000422 证券简称：湖北宜化 湖北宜化化工股份有限公司 向不特定对象发行可转换公司债券预案 二〇二五年十月 湖北宜化化工股份有限公司 向不特定对象发行可转换公司债券预案 发行人声明 1、公司及董事会全体成员保证本预案内容真实、准确、完整，并确认不存 在虚假记载、误导性陈述或重大遗漏。 2、本次向不特定对象发行可转换公司债券完成后，公司经营与收益的变化 由公司自行负责；因本次向不特定对象发行可转换公司债券引致的投资风险由投 资者自行负责。 3、本预案是公司董事会对本次向不特定对象发行可转换公司债券的说明， 任何与之相反的声明均属不实陈述。 4、投资者如有任何疑问，应咨询自己的股票经纪人、律师、专业会计师或 其他专业顾问。 5、本预案所述事项并不代表审批机关对于本次向不特定对象发行可转换公 司债券相关事项的实质性判断、确认、批准、核准或注册，本预案所述本次向不 特定对象发行可转换公司债券相关事项的生效和完成尚待公司股东会审议及深 圳证券交易所发行上市审核并经中国证券监督管理委员会同意注册。 1 湖北宜化化工股份有限公司 向不特定对象发行可 ...

Group 1 - The company plans to issue convertible bonds to raise up to 3.3 billion yuan [1] - The funds will be used for high-value utilization of phosphorus and fluorine resources, a 50,000 tons/year monoammonium phosphate project, and to supplement working capital and repay debts [1]

Core Viewpoint - The company plans to invest approximately 2.233 billion yuan in a high-value utilization project for phosphorus and fluorine resources, which is expected to positively impact its financial status and operational results [1] Investment Project Details - The project will include sulfuric acid production, wet-process phosphoric acid, refined phosphoric acid, high-end flame retardants, multifunctional compound fertilizer facilities, and supporting projects [1] - The funding sources for the project will be a combination of raised funds and self-raised funds, with an estimated construction period of 18 months [1] Strategic Alignment - The project aims to optimize resource allocation, release production capacity potential, and achieve high-value utilization of phosphorus and fluorine resources, aligning with the company's development plan for the phosphorus and fluorine chemical industry [1]

本资产评估报告依据中国资产评估准则编制 湖北宜化集团有限责任公司拟增资所涉及的 内蒙古宜化化工有限公司股东全部权益价值 资产评估报告 银信评报字（2025）第 B00316 号 （共 1 册 第 1 册） 银信资产评估有限公司 2025 年 9 月 30 日 | 报告编码: | 3131020026202501899 | | | --- | --- | --- | | 合同编号: | HT2025-B00306 | | | 报告类型: | 法定评估业务资产评估报告 | | | 报告文号: | 银信评报字(2025)第B00316号 | | | 报告名称: | 湖北宜化集团有限责任公司拟增资所涉及的内蒙古宜化化工有限 公司股东全部权益价值资产评估报告 | | | 评估结论: | 1,060,000,000.00元 | | | 评估报告日 : | 2025年09月30日 | | | 评估机构名称: | 银信资产评估有限公司 | | | 签名人员: | 李银松 (资产评估师) | 正式会员 编号: 42000454 | | | 郭文君 (资产评估师) | 正式会员 编号:42220059 | | | | 李银松、郭 ...