Group 1 - The chemical industry is showing signs of partial recovery, but has not yet reached a bottom rebound, with significant "involution" still present [2] - Longhua Chemical's performance has improved significantly, with a net profit of approximately 76.07 million yuan for the first three quarters of 2025, a year-on-year increase of 127.81% [3] - The company emphasizes the importance of sustainable development in its product research and development, focusing on biodegradable materials [4] Group 2 - Longhua Chemical has established a comprehensive technical system from basic research to industrialization, with over 40 R&D personnel and collaborations with universities [4][6] - The company has developed a third-generation phosphazene catalyst technology that enhances the comfort of automotive seating by reducing mid-frequency vibrations [6][7] - Longhua Chemical exports about 20% of its products annually and is focusing on expanding into the European market, adapting strategies for different regional market characteristics [8]

Core Viewpoint - The chemical industry is showing signs of partial recovery, but has not yet reached a bottom rebound, with significant "involution" still present. A notable round of mergers and acquisitions is expected before a true stabilization occurs [1] Group 1: Industry Overview - The chemical industry still faces an overall surplus of mid-to-low-end capacity, but there is strong demand for fine chemical products related to emerging industries [2] - The company reported a significant recovery in performance, with a revenue of approximately 1.991 billion yuan for the first three quarters of 2025, a year-on-year decrease of 9.31%, while net profit attributable to shareholders reached approximately 76.07 million yuan, a year-on-year increase of 127.81% [2] - The increase in net profit is attributed to a significant recovery in gross margin due to changes in raw material prices, the gradual market introduction of new products, and an increase in the sales proportion of high-value-added products [2] Group 2: R&D and Sustainability - The company emphasizes the importance of meeting customer, shareholder, and employee demands while fulfilling tax obligations and focusing on sustainable development [3] - The company has established a research institute since its inception, employing over 40 R&D personnel, including PhDs and foreign experts, and collaborates with universities for industry-academia research [3] - The company has developed a comprehensive technology system from basic research to industrialization, achieving leading core technology capabilities in key areas such as molecular structure design and polymerization processes [3] Group 3: Green and Low-Carbon Initiatives - The company's R&D focuses on catalyst upgrades, high-performance automotive polyethers, and the development of green, low-carbon, and recyclable functional materials [4] - The company has made significant advancements in catalyst technology, which can lead to substantial value once breakthroughs are achieved [4] - The company has developed a third-generation phosphazene catalyst technology, resulting in high-purity white crystalline products, with 10 invention patents and 1 international patent [5] Group 4: International Expansion - The company exports approximately 20% of its products globally and is focusing on expanding into the European market [6] - The overseas chemical market can be divided into two core types based on technological levels and demand characteristics, requiring targeted strategies for maximizing global layout benefits [6] - In underdeveloped regions, the company can leverage its mature processes and stable supply to achieve significant sales, while in developed regions, it must focus on high-end product technology and diverse application scenarios to meet stringent quality requirements [6]

Core Viewpoint - The collaboration between Suzhou University and Changhua Chemical aims to advance the industrialization and scaling of ionic liquid technology through the establishment of a joint laboratory, marking a significant step in their partnership [1][2]. Group 1: Company Initiatives - Changhua Chemical emphasizes its commitment to technological innovation as a driving force for the transformation and upgrading of traditional industries, planning to increase investment in research and development [1]. - The company aims to build a comprehensive innovation system that includes basic research, technology development, and industrial application, aspiring to become a benchmark for green and low-carbon development in Zhangjiagang [1]. - The chairman of Changhua Chemical highlighted the new phase of cooperation with Suzhou University, focusing on resource synergy and the establishment of the joint laboratory as a hub for talent incubation and industry application [1]. Group 2: Academic and Government Support - Suzhou University aims to transform research outcomes into practical productivity, promoting a deep integration of industry needs and scientific innovation through the joint laboratory [2]. - The local government supports the collaboration as part of a broader strategy to enhance new productive forces and facilitate the integration of industry, academia, and research [2]. - Future initiatives will focus on diverse applications of ionic liquid technology, including functional polyethers, green catalysis, and sustainable materials, contributing to the development of a green and circular chemical materials ecosystem [2].

格隆汇12月16日丨长华化学(301518.SZ)在投资者互动平台表示，公司不涉及MDI的生产。 ...

（文章来源：证券日报） 证券日报网讯 12月15日，长华化学在互动平台回答投资者提问时表示，公司高度重视对投资者的合理 投资回报，公司将根据分红政策并兼顾可持续发展需要，实施利润分配。 ...

（文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：请问贵司投资的二氧化碳聚醚一期项目目前进展如 何，预计是2025年第四季度投产，目前是什么进度？ 长华化学（301518.SZ）12月10日在投资者互动平台表示，公司全资子公司长华化学科技（连云港）有 限公司的"新建二氧化碳聚醚及高性能多元醇一期项目"目前处于建设阶段的尾期，后续投产进度将结合 现场实况与公司整体规划统筹安排，并及时履行信息披露义务。 ...

6-1-1 | 1 | 审计报告 | 1—5 | | --- | --- | --- | | ា វ្ | 财务报表 | | | l、 | 合并资产负债表、母公司资产负债表 | 1-4 | | 2、 | 合并利润表、母公司利润表 | ર-- | | 3、 | 合并现金流量表、母公司现金流量表 | 7-8 | | 4、 | 合并股东权益变动表、母公司股东权益变动表 | 9-14 | | 5、 | 财务报表附注 | 1-123 | 6-1-2 我们认为,后附的财务报表在所有重大方面按照企业会计准则的规定编制，公 允反映了长华化学 2022 年 12 月 31 日、2023 年 12 月 31 日及 2024 年 12 月 31 日的 合并及母公司财务状况以及 2022 年度、2023 年度及 2024 年度的合并及母公司经营 成果和现金流量。 二、形成审计意见的基础 我们按照中国注册会计师审计准则的规定执行了审计工作。审计报告的"注册 会计师对财务报表审计的责任"部分进一步阐述了我们在这些准则下的责任。按照 中国注册会计师职业道德守则,我们独立于长华化学,并履行了职业道德方面的其 他责任。我们相信,我们获取的审计 ...

长华化学科技股份有限公司 关于 2025 年度以简易程序向特定对象发行股票申请获得深 圳证券交易所受理的公告 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。 长华化学科技股份有限公司（以下简称"公司"）于近日收到深圳证券交易 所（以下简称"深交所"）出具的《关于受理长华化学科技股份有限公司向特定 对象发行股票申请文件的通知》（深证上审〔2025〕250号）。深交所对公司报 送的以简易程序向特定对象发行股票的申请文件进行了核对，认为申请文件齐 备， 决定予以受理。 证券代码：301518 证券简称：长华化学 公告编号：2025-096 公司本次以简易程序向特定对象发行股票事项尚需通过深交所审核，并获得 中国证券监督管理委员会（以下简称"中国证监会"）同意注册的批复后方可实 施。最终能否通过深交所审核，并获得中国证监会同意注册的批复及其具体时间 尚存在不确定性。公司将根据该事项的进展情况及时履行信息披露义务，敬请广 大投资者注意投资风险。 特此公告。 长华化学科技股份有限公司董事会 2025年12月5日 ...

关于长华化学科技股份有限公司 2025年度以简易程序向特定对象发行股票的 法律意见书 中国 深圳 福田区 益田路6001号太平金融大厦11、12楼 邮政编码：518038 11&12/F, TAIPING FINANCE TOWER, 6001 YITIAN ROAD, FUTIAN, SHENZHEN, CHINA 电话（Tel.）：（0755）88265288 传真（Fax.）：（0755）88265537 网址（Website）：http://www.shujin.cn | 二十、诉讼、仲裁或行政处罚 23 | | --- | | | | 在本法律意见书中，除上下文另有解释或说明外，下列使用的简称分别代 表的全称或含义为： | 发行人/公司/ | 指 | 长华化学科技股份有限公司 | | --- | --- | --- | | 长华化学 | | | | 长顺集团 | 指 | 江苏长顺集团有限公司 | | 华金合伙 | 指 | 张家港华金企业管理合伙企业（有限合伙） | | 能金合伙 | 指 | 张家港能金企业管理合伙企业（有限合伙） | | 长华化学（连 | 指 | 长华化学科技（连云港）有限公司，公司 ...

保荐人（主承销商） （深圳市前海深港合作区南山街道前湾一路 399 号前海嘉里商务 东亚前海证券有限责任公司 关于 长华化学科技股份有限公司 2025 年度以简易程序向特定对象发行股票 之 证券发行保荐书 中心 T7 办公楼 801） 二〇二五年十二月 长华化学科技股份有限公司 证券发行保荐书 声明 东亚前海证券有限责任公司（以下简称"东亚前海证券""保荐人"或"本 保荐人"）接受长华化学科技股份有限公司（以下简称"长华化学""发行人"或 "公司"）的委托，担任其以简易程序向特定对象发行股票的保荐人。 东亚前海证券及保荐代表人根据《中华人民共和国公司法》（以下简称"《公 司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公司证券发 行注册管理办法》（以下简称"《注册管理办法》"）等有关法律、法规和中国证券 监督管理委员会（以下简称"中国证监会"）、深圳证券交易所（以下简称"深交 所"）的有关规定，诚实守信，勤勉尽责，严格按照依法制订的业务规则、行业 执业规范和道德准则出具发行保荐书，并保证所出具文件的真实性、准确性和完 整性。 如无特别说明，本发行保荐书中相关用语与《长华化学科技股份有限公 ...