证券代码：301518 证券简称：长华化学 公告编号：2026-005 长华化学科技股份有限公司 第四届董事会第三次会议决议公告 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 1、长华化学科技股份有限公司（以下简称"公司"）第四届董事会第三次会议 的会议通知于 2026 年 1 月 23 日通过邮件的方式送达各位董事，通知中包括会议的 相关材料，同时列明了会议的召开时间、地点、内容和方式。 2、本次董事会于 2026 年 1 月 26 日在江苏省张家港市扬子江国际化工园北京路 20 号长华化学行政楼 4 楼董事会会议室，以现场及电子通信相结合的方式召开。 3、本次董事会应出席董事 9 名，实际出席董事 9 名，其中董事陈凤秋、顾磊、 李鹏、陈殿胜、赵彬、张凌以电子通信方式出席会议。 4、本次董事会由董事长顾仁发先生召集并主持，公司全体高级管理人员列席了 本次董事会。 5、本次会议的召集、召开和表决程序符合《中华人民共和国公司法》等法律法 规和《公司章程》的有关规定。 会议审议并通过了如下议案： 1、审议通过《关于使用募集资金置换预先投 ...

格隆汇1月27日丨长华化学(301518.SZ)近日接受特定对象调研时表示，公司二氧化碳聚醚项目一期目前 处于工程建设尾期，正在为申请试生产、消防验收等做各项准备工作，预计今年一季度试生产，具体时 间以相关审批手续的办结时间而定。公司全资子公司长华化学科技(连云港)有限公司的二氧化碳聚醚项 目总体规划是年产106 万吨，分期建设。公司计划：先夯实，以全球首套低温低压制备年产8万吨二氧 化碳聚醚的项目一期的技术壁垒，筑牢首阶段市场口碑；再扩张，以一期产能为支点，不断优化工艺路 径与效能管理，打开长期市场空间；终沉淀，让技术转化为品牌资产，构建竞争护城河。 ...

格隆汇1月27日丨长华化学(301518.SZ)近日接受特定对象调研时表示，2025年度公司产品综合毛利率实 现同比较大增长，一方面是公司POP、PPG等产品通过供应链管理水平提升、持续降本增效及工艺技术 优化等因素推动毛利率回升；另一方面是公司通过技术创新优化产品结构与客户结构，持续推动实施差 异化竞争策略。围绕客户需求，高性能Hiclaim®系列、抗菌防螨功能化系列聚醚等绿色新产品逐步投放 市场，特种聚醚等高附加值产品销售占比提高；叠加客户结构持续优化、加大与战略客户的深度合作及 市场拓展，共同驱动公司整体毛利率水平实现较好提升，在经营业绩上取得了较好增长。 ...

格隆汇1月27日丨长华化学(301518.SZ)近日接受特定对象调研时表示，2025年度公司产品综合毛利率实 现同比较大增长，一方面是公司POP、PPG等产品通过供应链管理水平提升、持续降本增效及工艺技术 优化等因素推动毛利率回升；另一方面是公司通过技术创新优化产品结构与客户结构，持续推动实施差 异化竞争策略。围绕客户需求，高性能Hiclaim®系列、抗菌防螨功能化系列聚醚等绿色新产品逐步投放 市场，特种聚醚等高附加值产品销售占比提高；叠加客户结构持续优化、加大与战略客户的深度合作及 市场拓展，共同驱动公司整体毛利率水平实现较好提升，在经营业绩上取得了较好增长。 ...

Group 1 - Changhua Chemical announced that on January 26, 2026, it will accept an investor research visit from Dongwu Securities Co., Ltd. and other investors [1] - The company's general manager, Mao Jinlong, along with the board secretary, Gu Qian, and securities affairs representative, Zhang Li, will participate in the reception and answer questions from investors [1] Group 2 - International gold prices have surpassed $5,000, marking a 280% increase over the past seven years [1] - Experts suggest that the key factors influencing gold prices include the US dollar, the international monetary system, interest rate cuts, and technological revolutions [1]

答：二氧化碳聚醚是环氧丙烷与二氧化碳的共聚产物，不仅 具有低温柔顺性、耐水解性等优点，而且兼具聚碳酸酯的力学强 度、耐磨性、耐热性等特点，由其制备的聚氨酯材料具有优异的 抗氧化、耐磨、耐化学品、耐水解等性能；除此之外，二氧化碳 聚醚分子链上含有碳酸亚丙酯键，更容易被降解再生，由其制备 的聚氨酯制品更容易实现可持续循环再生，因此预计未来二氧化 碳聚醚在聚氨酯行业市场容量能够持续扩大。 证券代码：301518 证券简称：长华化学 长华化学科技股份有限公司 投资者关系活动记录表 编号：2026-001 | ☑ | 特定对象调研 □分析师会议 | | | --- | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | | 类别 | □新闻发布会 □路演活动 | | | | □现场参观 | | | | □其他 东吴证券股份有限公司 | 陈淑娴、周少玟 | | | 浙商基金管理有限公司 上海瓦洛兰投资管理有限公司 | 景徽 董骁 | | | 五地投资管理有限公司 | 成佩剑 | | 参与单位名称及 | 贵山基金管理有限公司 | 毛程霖 | | 人员姓名 | 基明资产管理（上海）有限公司 | ...

Core Insights - Shaanxi Province is rapidly developing its commercial aerospace industry, aiming to create a leading innovation cluster with a target industry scale of over 500 billion yuan by 2027 and 1 trillion yuan by 2030 [1] - The province's aerospace sector is characterized by strong order fulfillment and collaboration among leading enterprises, enhancing competitiveness in the commercial aerospace era [1] Group 1: Industry Development - Shaanxi has proactively released an action plan to cultivate a 100 billion yuan commercial aerospace industry cluster by the end of 2024, with a focus on satellite and rocket manufacturing, constellation operations, and satellite applications [1] - The province aims to have over 100 large-scale enterprises by 2027 and 200 by 2030, with a significant increase in industry scale and leadership in various aerospace fields [1] Group 2: Company Performance - Shaanxi Huada, a key player in aerospace connectors, reported a continuous increase in the proportion of commercial aerospace business in its overall revenue, with a focus on expanding product categories to meet customer demands [2] - Xicet Testing has established a comprehensive testing capability system, providing one-stop services that significantly shorten development cycles and reduce management costs for commercial satellite manufacturers [3] Group 3: Material and Component Innovation - Sui Rui New Materials has successfully applied high-strength, high-conductivity copper alloys in liquid rocket engine thrust chambers, with revenue from these products expected to grow from 20.97 million yuan in 2022 to 30.16 million yuan in 2024 [3] - Tianli Composite has become a major supplier of transition joints for satellites, contributing to the domestic production of key aerospace materials [4] Group 4: Strategic Collaboration - Xicet Testing has formed strategic partnerships with Shaanxi Huada and Jizhi Co., focusing on expanding the aerospace testing market and enhancing quality collaboration across the entire design-manufacturing-testing-application chain [6] - The collaboration aims to leverage each company's strengths to support high-end manufacturing and ensure product quality stability in the commercial aerospace sector [6][7] Group 5: Ecosystem and Infrastructure - Shaanxi's aerospace industry is supported by national research institutions and a unique national economic and technological development zone focused on aerospace, fostering a complete innovation chain from basic research to technology transfer [7] - The Xi'an National Civil Aerospace Industry Base hosts over 60 commercial aerospace companies, establishing a comprehensive ecosystem that integrates rocket development, satellite payloads, and data applications [7]

资金面上看，长华化学近5日主力资金总体呈净流入状态，累计净流入2142.33万元，其中，上一交易日 主力资金全天净流入405.59万元。 融资融券数据显示，该股最新（1月20日）两融余额1.63亿元，其中，融资余额为1.63亿元，近5日融资 余额合计增加2179.76万元，增幅为15.47%。（数据宝） （文章来源：证券时报网） 长华化学股价出现异动，截至今日9时54分，股价下跌5.40%，成交251.57万股，成交金额1.04亿元，换 手率为4.71%，公司发布的最新业绩预告显示，预计2025年实现净利润8941.27万元—1.09亿元，净利润 同比增长53.75%—87.91%。 证券时报·数据宝统计显示，今日公布2025年业绩预告公司中，截至发稿股价较为强势的有中熔电气、 芯碁微装、誉衡药业等，股价分别上涨20.00%、12.89%、10.03%，股价跌幅较大的有南侨食品、中孚 实业、粤桂股份等，分别下跌7.10%、6.41%、5.95%。 ...

Summary of Key Points from Conference Call Records Industry Overview - The records primarily focus on the chemical industry, specifically tracking price changes and stock performance of chemical companies as of January 20. Key Financial Metrics - The Shanghai Composite Index reported at 4113.65, with a day-on-day change of -0.01% - Basic chemicals and petrochemicals reported at 7785.68 and 4841.91, with day-on-day changes of +0.35% and +2.58% respectively [1][1][1] Price Changes in Chemicals - Top five price increases in chemicals: - R125: +3.09% - R22: +2.94% - Niacinamide: +2.94% - Acrylic Acid: +2.7% - Propyl Acetate: +2.22% [1][1][1] - Price increases in anti-involution products: - Polyester Bottle Chips: +0.75% - Caprolactam: +0.54% [1][1][1] Price Spread Changes - Top five increases in price spreads: - Lithium Iron Phosphate: +52.62% - Anhydride: +38.41% - Rigid Polyether: +37.5% - Glyphosate: +29.24% - Phenol: +17.62% [1][1][1] Stock Performance of Chemical Companies - Top five stock price increases: - Jiangtian Chemical: +19.99% - Yida Co.: +11.96% - Runfeng Co.: +10.72% - Qicai Chemical: +10.71% - Hongmian Co.: +10.13% [1][1][1] Earnings Forecasts - **Oriental Tower**: Expected net profit for 2025 is between 1.08-1.27 billion, a year-on-year increase of 91.4%-125.07% [2][2][2] - **Batian Co.**: Expected net profit for 2025 is between 890-980 million, a year-on-year increase of 117.53%-139.53% [2][2][2] - **Kaisheng New Materials**: Expected net profit for 2025 is between 110-140 million, a year-on-year increase of 96.47%-150.06% [2][2][2] - **Qiaoyuan Co.**: Expected net profit for 2025 is between 226-256 million, a year-on-year increase of 51.51%-71.62% [2][2][2] - **Zhongshi Technology**: Expected net profit for 2025 is between 330-370 million, a year-on-year increase of 63.86%-83.73% [2][2][2] - **Changhua Chemical**: Expected net profit for 2025 is between 89-109 million, a year-on-year increase of 53.75%-87.91% [2][2][2] - **Xinjiang Tianye**: Expected net profit for 2025 is around -50 million, indicating a loss [2][2][2] - **Juheshun**: Expected net profit for 2025 is between 130-160 million, a year-on-year decrease of 47%-57% [2][2][2] Other Notable Announcements - **Huarun Materials**: Expected net loss for 2025 is between 85-115 million, a year-on-year reduction of 85.08%-79.81% [3][3][3] - **Huajin Co.**: Expected net loss for 2025 is between 1.6-1.9 billion, a year-on-year increase of 42.75%-32.02% [3][3][3] - **Xinghua Co.**: Expected net loss for 2025 is between 420-560 million [3][3][3] - **Baomo Co.**: Change in actual controller due to share transfer agreement [3][3][3] - **Nanjing Julong**: Plans to invest 30 million to establish a wholly-owned subsidiary for a 60,000-ton modified plastic production line [3][3][3] - **Jiangtian Chemical**: Plans to invest 49.8 million to establish a 60,000-ton acrylic acid project with a one-year construction period [3][3][3] Conclusion - The chemical industry shows a mix of positive earnings forecasts and significant stock price movements, alongside some companies projecting losses. The data indicates potential investment opportunities in companies with strong growth forecasts while highlighting risks in those expecting losses.

Group 1: New Stock Offerings - Medela's new stock offering has a subscription code of 920119, with an issue price of 41.88 yuan per share and a price-to-earnings ratio of 14.99 times, allowing a maximum subscription limit of 720,000 shares per account [2] Group 2: Fiscal Policy and Economic Measures - The Ministry of Finance will continue to implement a more proactive fiscal policy, aiming for increased total spending, improved structure, better efficiency, and stronger momentum, with necessary levels of fiscal deficit, total debt, and spending maintained through 2026 [3] - The Ministry of Finance has optimized the personal consumption loan interest subsidy policy, including credit card installment payments, removing restrictions on certain consumption areas, allowing all consumer loans to enjoy interest subsidies [3] - Starting April 1, 2026, export tax rebates for photovoltaic products will be canceled, and electronic product export tax rebates will be phased out over two years, promoting efficient resource use and guiding rational industrial structure adjustments [3] - Tax and fee preferential policies for community services such as elderly care, childcare, and housekeeping will continue, benefiting institutions providing these services [3] Group 3: Commodity Market Adjustments - The Shanghai Futures Exchange will adjust margin ratios and price fluctuation limits for futures contracts of copper, gold, and other commodities starting January 22, 2026 [4] - Domestic gasoline and diesel prices will increase by 85 yuan per ton due to rising international oil prices, marking the first price hike in 2026, with an average increase of 0.07 yuan per liter for 92 and 95 gasoline and 0 diesel [4] - Shanghai has released an action plan to enhance the linkage between spot and futures markets for non-ferrous metals, aiming to expand the international influence of "Shanghai prices" [4] Group 4: Company Earnings Forecasts - Huicheng Environmental Protection plans to increase its shareholding by 25 million to 50 million yuan [7] - JianTou Energy expects a net profit increase of approximately 253.38% year-on-year for 2025 [7] - Hikvision's performance report indicates a year-on-year growth of 18.46% in net profit attributable to shareholders for 2025 [7] - Longzi Co. anticipates a net profit increase of 245.25% to 302.8% year-on-year for 2025 [7] - Zhaoyan New Drug expects a net profit increase of 214% to 371% year-on-year for 2025 [8] - Huachen Equipment forecasts a net profit increase of 193.64% to 242.04% year-on-year for 2025 [8] - Qianyuan Power anticipates a net profit increase of 160% to 190% year-on-year for 2025 [8] - Jin Fang Energy expects a net profit increase of 123.97% to 193.7% year-on-year for 2025 [8] - Other companies such as Zhongfu Industrial, Batian Co., and Dongwei Technology also project significant year-on-year profit increases for 2025, ranging from 50% to over 300% [8][9]