证券代码：002064 证券简称：华峰化学 公告编号：2025-034 华峰化学股份有限公司 2024年年度股东大会决议公告 本公司及其董事、监事、高级管理人员保证公告内容真实、准确和完 整，并对公告中的虚假记载、误导性陈述或者重大遗漏承担责任。 特别提示： 1、本次股东大会以现场结合网络投票的方式召开。 2、本次股东大会未通过议案，具体如下： | 序号 | 议案名称 | | --- | --- | | 议案十三 | 关于公司发行股份及支付现金购买资产暨关联交易符合相关法律、法规规定的议案 | | 议案十四 | 关于公司发行股份及支付现金购买资产构成关联交易的议案 | | 议案十五 | 关于公司发行股份及支付现金购买资产暨关联交易方案的议案（本议案为逐项表决） | | 1 | 本次交易方案概述 | | 2 | 发行股票种类、面值及上市地点 | | 3 | 发行方式及发行对象 | | 4 | 发行股份的定价方式和价格 | | 5 | 发行数量 | | 6 | 锁定期安排 | | 7 | 过渡期损益安排 | | 8 | 滚存未分配利润安排 | | 9 | 决议有效期 | | 议案十六 | 关于<华峰化学股份有限公 ...

证券代码：002064 证券简称：华峰化学 公告编号：2025-035 北京海润天睿律师事务所 关于华峰化学股份有限公司 2024 年年度股东大会的法律意见书 本公司及其董事、监事、高级管理人员保证公告内容真实、准确和完 整，并对公告中的虚假记载、误导性陈述或者重大遗漏承担责任。 致：华峰化学股份有限公司 北京海润天睿律师事务所（以下简称"本所"）接受华峰化学股份有限公司 （以下简称"公司"）的委托，指派本所律师出席公司 2024 年年度股东大会（以 下简称"本次股东大会"），并依据《中华人民共和国公司法》（以下简称《公 司法》）《上市公司治理准则》《公司章程》及其他相关法律、法规的规定，就 公司本次股东大会的召集、召开程序、出席会议人员的资格、召集人资格、表决 程序及表决结果等有关事宜出具本法律意见书。 披露媒体上披露《关于召开 2024 年年度股东大会通知公告》（以下简称"原 会议通知"）。 2025 年 4 月 12 日，公司董事会于指定媒体披露《华峰化学股份有限公司 关于延期召开 2024 年年度股东大会暨股东大会补充通知的公告》（与原会议 通知合成"会议通知"），将本次股东大会延期至 2025 年 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [6] Core Views - The company reported Q1 performance that exceeded expectations, with a revenue of 6.314 billion yuan, down 5.15% year-on-year, and a net profit attributable to shareholders of 504 million yuan, down 26.21% year-on-year but up 145.60% quarter-on-quarter [6] - The company is a dual leader in the industries of adipic acid and spandex, maintaining cost advantages and demonstrating resilience in performance during the industry downturn [6][7] - The company is pursuing vertical mergers and acquisitions to strengthen its polyurethane industry position, with a projected net profit of 2.474 billion, 3.110 billion, and 3.822 billion yuan for 2025-2027 [6][8] Financial Summary - In Q1 2025, the average price of adipic acid was 8,106 yuan/ton, down 2.14% quarter-on-quarter, with an average price difference of 2,200 yuan/ton, down 5.06% quarter-on-quarter and down 32.41% year-on-year [7] - The average price of spandex 40D was 23,876 yuan/ton, down 1.01% quarter-on-quarter, with a price difference of 11,083 yuan/ton, down 3.25% quarter-on-quarter and down 12.82% year-on-year [7] - The company plans to acquire 100% equity of Huafeng Synthetic Resin and Huafeng Thermoplastic for a total transaction price of 6 billion yuan, with expected net profits from these assets projected to be 9.67 billion yuan and 6.04 billion yuan respectively from 2025 to 2027 [8] Financial Projections - The company’s revenue projections for 2025-2027 are 27.645 billion, 29.799 billion, and 30.468 billion yuan respectively, with corresponding net profits of 2.474 billion, 3.110 billion, and 3.822 billion yuan [10] - The projected EPS for 2025-2027 is 0.50, 0.63, and 0.77 yuan, with P/E ratios of 13.5, 10.7, and 8.7 respectively [10]

Investment Rating - The report maintains a "Strong Buy" rating for Huafeng Chemical [2][4]. Core Views - The company's Q1 performance was under pressure due to a decline in product prices, with revenue at 6.314 billion yuan, down 5.15% year-on-year, and net profit at 504 million yuan, down 26.21% year-on-year [3]. - Despite short-term challenges, the recovery in spandex prices since 2025 is expected to alleviate operational pressures for spandex manufacturers [3]. - Huafeng Chemical has a strong scale advantage, being the second-largest spandex producer globally and the largest in China, with significant production capacities in adipic acid and polyurethane [3]. - The company is expanding its production capacity, with ongoing projects expected to enhance its scale advantage further [3]. - Investments in upstream raw material projects are anticipated to strengthen the company's cost advantages in the spandex industry [4]. Financial Performance Summary - For 2025, the company forecasts net profits of 2.133 billion yuan, with earnings per share (EPS) of 0.43 yuan, and a price-to-earnings (P/E) ratio of 16 [4][5]. - Revenue is projected to grow from 26.298 billion yuan in 2023 to 33.293 billion yuan in 2027, reflecting a compound annual growth rate (CAGR) of approximately 8.56% [5]. - The net profit is expected to decline slightly in 2025 before recovering in subsequent years, with a forecast of 2.664 billion yuan by 2027 [5]. Company Overview - Huafeng Chemical is a leading manufacturer of spandex fibers, adipic acid, and polyurethane raw materials, with a comprehensive product range that meets diverse customer needs [6]. - The company has established itself as a top player in the chemical fiber industry, recognized for its efficiency and product quality [6].

Investment Rating - The report maintains a "Buy" rating for the company, with an expected price increase of over 15% in the next 6-12 months [4][12]. Core Views - The company reported a revenue of 6.314 billion RMB in Q1 2025, a year-on-year decrease of 5.15%, and a net profit attributable to shareholders of 504 million RMB, down 26.21% year-on-year [2]. - The price of spandex has shown signs of recovery in Q1 2025, while the price of adipic acid continues to decline. The company is focusing on integrating its upstream and downstream supply chains to enhance profitability and risk resistance [3]. - The company is expected to achieve revenues of 27.322 billion RMB, 28.648 billion RMB, and 29.926 billion RMB for the years 2025, 2026, and 2027 respectively, with net profits of 1.984 billion RMB, 2.174 billion RMB, and 2.333 billion RMB for the same years [4]. Summary by Sections Performance Review - In Q1 2025, the company achieved a revenue of 6.314 billion RMB, a decrease of 5.15% year-on-year, and a net profit of 504 million RMB, down 26.21% year-on-year [2]. Operational Analysis - The spandex prices have rebounded slightly in Q1 2025, while adipic acid prices have been on a downward trend since March 2025. The company is constructing an integrated spandex production project, which is expected to improve profitability in the future [3]. Profit Forecast - The company is projected to generate revenues of 27.322 billion RMB in 2025, 28.648 billion RMB in 2026, and 29.926 billion RMB in 2027, with corresponding net profits of 1.984 billion RMB, 2.174 billion RMB, and 2.333 billion RMB [4].

华峰化学股份有限公司 关于使用部分闲置募集资金及自有资金进行现金管理的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.投资种类：保本型理财产品 2.投资金额：不超过人民币110,000万元的闲置募集资金、不超过人民币 200,000万元的自有资金 证券代码：002064 证券简称：华峰化学 公告编号：2025-031 3. 公司与拟购买理财产品的发行主体不存在关联关系。 一、现金管理情况概述 （一）目的 为提高公司资金使用效率，在不影响募集资金使用和公司正常经营的前提 下，合理利用部分暂时闲置募集资金及暂时闲置自有资金进行现金管理，可以 增加资金收益，保障公司股东利益。 （二）资金来源、金额及期限 根据公司当前的资金使用状况、募集资金投资项目建设进度并考虑保持充 足的流动性，公司拟使用不超过人民币110,000万元的闲置募集资金和不超过 200,000万元的自有资金进行现金管理，期限自公司董事会审议通过之日起12个 月内有效。在决议有效期内，上述额度可以循环滚动使用，即任意时点进行现 金管理的余额不超过上述额度。闲置募集资金现金管理到 ...

证券代码：002064 证券简称：华峰化学 公告编号：2024-033 华峰化学股份有限公司 第九届监事会第八次会议决议公告 《2025 年第一季度报告》具体内容详见 2025 年 4 月 26 日的证券时报、中 国证券报、巨潮资讯网（http://www.cninfo.com.cn）。 表决结果：同意 5 票、反对 0 票、弃权 0 票。 （二）审议通过了《关于使用部分闲置募集资金及自有资金进行现金管理 的议案》； 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记录、误导性陈述或重大遗漏。 一、监事会会议召开情况 华峰化学股份有限公司（以下简称"公司"）第九届监事会第八次会议通知 于 2025 年 4 月 14 日以电子邮件或书面专人送达等方式发出，会议于 2025 年 4 月 25 日以通讯表决的方式召开。会议由监事会主席王利女士召集与主持，本次 会议应到监事 5 人，实到 5 人，符合《公司法》和《公司章程》的规定，会议 决议合法有效。 二、监事会会议审议情况 （一）审议通过了《2025 年第一季度报告》； 经审核，监事会认为董事会编制和审核华峰化学股份有限公司 2025 年第一 ...

证券代码：002064 证券简称：华峰化学 公告编号：2025-032 华峰化学股份有限公司 第九届董事会第九次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 华峰化学股份有限公司（以下简称"公司"）第九届董事会第九次会议通 知于 2025 年 4 月 14 日以电子邮件或专人送达方式发出，会议于 2025 年 4 月 25 日以通讯表决的方式召开。会议由董事长尤飞煌先生主持。本次会议应到董 事 9 人，实到 9 人，公司监事、高级管理人员列席会议，符合《公司法》和 《公司章程》的有关规定，会议决议合法有效。 二、 董事会会议审议情况 （一）审议通过了《2025 年第一季度报告》。 具体内容详见登载于 2025 年 4 月 26 日的证券时报、中国证券报、巨潮资 讯网（http://www.cninfo.com.cn）的《2025 年第一季度报告》。 表决结果：同意 9 票、反对 0 票、弃权 0 票。 （二）审议通过了《关于使用部分闲置募集资金及自有资金进行现金管理 的议案》。 具体内容详见登载于 2025 年 4 月 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥6,313,831,888.08, a decrease of 5.15% compared to ¥6,656,787,137.28 in the same period last year[4] - Net profit attributable to shareholders was ¥504,316,364.85, down 26.21% from ¥683,442,402.36 year-on-year[4] - Basic and diluted earnings per share decreased by 28.57% to ¥0.10 from ¥0.14 in the same period last year[4] - The company reported a significant increase in investment income of 34.23%, reaching ¥34,340,095.93 compared to ¥25,583,000.02 in the previous year[8] - The company recorded a 2269.66% increase in asset disposal income, amounting to ¥7,721,058.50 compared to ¥325,829.84 in the previous year[8] - The company's net profit for the current period is 505,927,291.81, a decrease of 26% compared to 682,208,716.64 in the previous period[18] - Operating profit for the current period is 577,767,157.25, down from 775,521,638.23, indicating a decline of about 26%[18] - Total comprehensive income for the current period is 513,536,404.09, compared to 692,162,497.33 in the previous period, representing a decrease of approximately 26%[19] Cash Flow and Liquidity - The net cash flow from operating activities improved significantly to ¥103,499,728.09, a 271.34% increase from -¥60,404,505.17 in the previous year[4] - Cash flow from operating activities generated a net amount of 103,499,728.09, a significant improvement from a negative cash flow of -60,404,505.17 in the previous period[20] - The company's cash and cash equivalents decreased to CNY 6,223,679,237.11 from CNY 7,067,672,762.04, reflecting a decline of 11.96%[14] - Cash and cash equivalents at the end of the period decreased to 5,413,225,807.80 from 9,839,642,474.43, a decline of about 45%[21] - Investment activities resulted in a net cash outflow of -226,996,191.53, compared to -430,092,185.03 in the previous period, showing an improvement[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥35,651,947,531.15, a slight decrease of 0.87% from ¥35,966,174,587.83 at the end of the previous year[4] - Total assets decreased to CNY 35,651,947,531.15 from CNY 35,966,174,587.83, a reduction of 0.87%[15] - Total liabilities decreased to CNY 8,584,247,288.65 from CNY 9,414,021,519.48, a decline of 8.83%[16] - The company's retained earnings increased to CNY 17,277,080,137.47 from CNY 16,772,763,772.62, reflecting a growth of 3.01%[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 58,115, with the largest shareholder, Huafeng Group Co., Ltd., holding 45.10% of the shares[10] - The number of shares held by the top shareholder, Huafeng Group Co., Ltd., is 2,237,942,524, representing a significant ownership stake[11] Operational Metrics - Total operating costs for the current period amount to CNY 5,837,290,678.90, down 2.33% from CNY 5,976,341,916.96 in the previous period[17] - The total revenue from sales of goods and services was 5,705,566,356.39, a decrease from 5,907,704,772.62 in the previous period, reflecting a decline of approximately 3%[20] - Research and development expenses decreased to 210,281,196.97 from 244,076,957.61, reflecting a reduction of approximately 14%[18] Future Plans - The company is planning to issue shares and pay cash for asset acquisition, with details available in announcements dated January 27, February 26, and March 26, 2025[12]

北京海润天睿律师事务所 关于华峰化学股份有限公司 发行股份及支付现金购买资产暨关联交易之 相关人员买卖股票情况的 专项核查意见 华峰化学股份有限公司： 北京海润天睿律师事务所（以下简称"本所"）接受华峰化学股份有限公 司（以下简称"华峰化学"、"公司"或"上市公司"）委托，担任华峰化学 发行股份及支付现金购买浙江华峰合成树脂有限公司、浙江华峰热塑性聚氨酯 有限公司(以下合称"标的公司")100%股权（以下简称"本次交易"）的专项 法律顾问，并已依据《中华人民共和国公司法》《中华人民共和国证券法》《上 市公司重大资产重组管理办法》等相关法律、法规及规范性文件的有关规定， 就本次交易相关法律问题出具了《北京海润天睿律师事务所关于华峰化学股份 有限公司发行股份及支付现金购买资产暨关联交易的法律意见书》(以下简称 "《法律意见书》")。 根据中国证券监督管理委员会（以下简称"中国证监会"）发布的《监管 规则适用指引——上市类第 1 号》及《公开发行证券的公司信息披露内容与格 式准则第 26 号——上市公司重大资产重组》的相关要求，本所对自查期间（如 下文所定义）内相关人员买卖上市公司股票的情况进行专项核查，并出具本专 ...