中信证券股份有限公司关于 利民控股集团股份有限公司 提前赎回"利民转债"的核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为利民控股 集团股份有限公司（以下简称"利民股份"或"公司"）的保荐人，根据《证券发 行上市保荐业务管理办法》《深圳证券交易所股票上市规则》《深圳证券交易所 上市公司自律监管指引第 15 号——可转换公司债券》《利民控股集团股份有限 公司公开发行可转换公司债券募集说明书》（以下简称"募集说明书"）等有关 法律法规及相关规定，对利民股份提前赎回"利民转债"的情况进行了审慎核 查，核查情况及核查意见如下： 一、可转换公司债券发行上市基本情况 （一）可转债发行情况 经中国证券监督管理委员会《关于核准利民控股集团股份有限公司公开发 行可转换公司债券的批复》（证监许可［2020］3390 号）的核准，公司向社会 公开发行面值总额为人民币 980,000,000.00 元的可转换公司债券，发行数量为 9,800,000 张，每张面值为人民币 100 元，债券期限为 6 年。 （二）可转债上市情况 经深交所深证上【2021】278 号文同意，公司 980,000,000.00 元可转 ...

第六届董事会第十一次会议决议公告 债券代码：128144 债券简称：利民转债 股票代码：002734 股票简称：利民股份 公告编号：2025-095 利民控股集团股份有限公司 备查文件： 1、公司第六届董事会第十一次会议决议； 2、深圳证券交易所要求的其他文件。 特此公告。 利民控股集团股份有限公司董事会 2025 年 12 月 04 日 - 1 - 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。 利民控股集团股份有限公司（以下简称"公司"）第六届董事会第十一次会议 于 2025 年 12 月 4 日 15:00 以现场和通讯表决相结合方式在子公司利民化学会议室 召开。应出席本次会议的董事 11 名，实际出席会议的董事 11 名。会议由董事长李 新生先生主持。公司全体高级管理人员列席了会议。本次会议的出席人数、召开表 决程序、议事内容均符合《公司法》《公司章程》等有关规定。 经与会董事认真讨论，会议以赞成票 11 票，反对票 0 票，弃权票 0 票，审议 通过了《关于提前赎回"利民转债"的议案》。 本议案具体内容详见《证券时报》《中国证券报》和巨潮资讯网上披露 ...

证券日报网讯11月28日，利民股份（002734）在互动平台回答投资者提问时表示，公司董事会高度重视 信息披露合规性，不存在应披露而未披露的事项。公司2025年业绩表现良好，生产经营正常，财务情况 稳健；二级市场股价受企业经营业绩、宏观经济环境、股市资金流动等多种因素共同影响，请投资者理 性看待股价波动。 ...

Core Viewpoint - The company's product prices are primarily influenced by supply and demand dynamics, with specific products experiencing varying price trends based on seasonal demand fluctuations [1] Group 1: Product Price Trends - The prices of the company's fungicides, such as Mancozeb and Chlorothalonil, are expected to continue rising in 2025 due to strong demand [1] - In contrast, products like Abamectin are experiencing a price decline in the fourth quarter due to seasonal demand drop, but prices are anticipated to rebound cyclically [1] Group 2: Impact on Company Performance - The overall impact on the company's performance will depend on multiple factors, including price changes, production volume, and costs [1] - Among the products, Mancozeb and Chlorothalonil are expected to have a more significant effect on the company's performance when considering price, cost, and volume factors [1]

Group 1 - The company, Limin Co., Ltd. (002734), reported that as of November 20, 2025, the total number of shareholders is 56,818 [1]

Group 1 - The core viewpoint of the article is that the price changes of the company's products are primarily influenced by supply and demand dynamics, with significant price increases for key products like Mancozeb and Chlorothalonil, while prices for products like Abamectin are expected to rebound after a seasonal decline [2][3] - The company indicated that the strong demand for its fungicides, such as Mancozeb and Chlorothalonil, is expected to lead to sustained price increases through 2025 [2] - The impact on the company's performance is influenced not only by price changes but also by factors such as volume and costs, with Mancozeb and Chlorothalonil expected to have a greater overall impact on performance compared to Abamectin [2]

Group 1 - The company, Limin Co., Ltd. (002734.SZ), reported that its current production and operational status is normal [2] - The pesticide industry is transitioning from off-peak to peak season, with demand gradually recovering [2] - The company anticipates that pesticide prices will stabilize and rebound in the near future [2]

Group 1 - The company's main products, Mancozeb and Chlorothalonil, have a production capacity of 45,000 tons/year and 30,000 tons/year respectively, both operating at full production and sales capacity [2] - The company holds a 34% stake in Xinhe Company, which produces Chlorothalonil [2] Group 2 - The company is actively engaging with investors through an interactive platform to provide updates on production capacity and utilization rates [2] - The current production utilization rate for both products is at maximum capacity, indicating strong demand and operational efficiency [2]

特别提示： 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。 | 股票代码：002734 | 股票简称：利民股份 | 公告编号：2025-094 | | --- | --- | --- | | 债券代码：128144 | 债券简称：利民转债 | | 利民控股集团股份有限公司 关于利民转债预计触发赎回条件的提示性公告 自 2025 年 11 月 14 日至 2025 年 11 月 26 日，利民控股集团股份有限公司（以 下简称"公司"）股票已有 9 个交易日的收盘价不低于 "利民转债"当期转股价格 （即 8.10 元/股）的 130%（即 10.53 元/股），预计后续可能触发"利民转债"有 条件赎回条款。根据《公司公开发行可转换公司债券募集说明书》（以下简称《募 集说明书》）中有条件赎回条款的相关规定，届时公司董事会有权决定是否按照债 券面值加当期应计利息的价格赎回全部或部分未转股的"利民转债"。敬请广大投 资者详细了解可转换公司债券相关规定，并及时关注公司后续公告，注意投资风险。 一、可转换公司债券上市发行概况 （一）可转债发行情况 经中国证券监督管理委员会《 ...

Investment Rating - The report maintains a "Recommended" rating for the chemical industry [1] Core Views - The chemical industry is expected to benefit from the ongoing "anti-involution" measures, which may lead to a significant slowdown in global chemical capacity expansion. This shift is anticipated to enhance cash flow and dividend yields for companies in the sector, transforming them from cash-consuming entities to cash-generating ones [7][27] - The report highlights the potential for domestic substitutes for Japanese semiconductor materials due to rising tensions in Sino-Japanese relations, which could accelerate the domestic market's growth in this area [6] Summary by Sections Recent Trends - The chemical industry has shown a relative performance increase of 16.1% over the past 12 months, outperforming the CSI 300 index, which increased by 11.6% [4] Key Price Movements - DMC (Dimethyl Carbonate) prices rose to 4400 CNY/ton, up 14.29% week-on-week, driven by strong demand from the electrolyte sector [14] - Lithium battery electrolyte prices increased to 27000 CNY/ton, up 8.00% week-on-week, although profit margins for manufacturers are under pressure due to rising raw material costs [14] - Diammonium phosphate prices in East China reached 3850 CNY/ton, up 5.48% week-on-week, amid rising production costs [14] Investment Opportunities - The report identifies four key opportunities in the chemical sector: 1. Low-cost expansion, focusing on companies like Wanhua Chemical and Hualu Hengsheng [9] 2. Improved industry conditions, particularly in chromium salts and phosphate rock [10] 3. New materials with high growth potential, such as electronic chemicals and aerospace materials [11] 4. High dividend yields from state-owned enterprises in the chemical sector, including China Petroleum and China National Chemical [11] Company Tracking and Earnings Forecast - The report provides a detailed earnings forecast for key companies, indicating a positive outlook for several firms in the chemical sector, with many rated as "Buy" [28]