Core Viewpoint - The modified plastics industry is expected to thrive in 2023, particularly driven by the automotive sector, which has seen significant growth in production and sales in China [1]. Group 1: Industry Performance - In the first half of the year, major companies such as Prilit (+66.65%), Yinhui Technology (+83%), Xinhengcheng (+70%), and Daon Co. (+48%) reported substantial earnings growth, indicating a positive trend for other companies like Kingfa Technology, Nanjing Julong, and Huitong Co. [2]. - Kingfa Technology anticipates a net profit of 550 million to 650 million yuan for the first half of 2025, representing a year-on-year increase of 44.82% to 71.15% [3]. Group 2: Company Developments - Kingfa Technology reported a total revenue of 15.666 billion yuan in Q1 2025, a 49.06% increase year-on-year, with a net profit of 247 million yuan, up 138.20% [4]. - The company attributes its performance to three main factors: increased product development, optimization of product structure, and accelerated global expansion [4][5]. - Kingfa's production capacity for modified plastics is projected to reach 3.72 million tons per year, with significant contributions from automotive and electronic sectors [4]. Group 3: Strategic Goals - Kingfa Technology aims for a total output value of 1 trillion yuan, with specific targets of 800 billion yuan from modified plastics, 300 billion yuan from new materials, 400 billion yuan from green petrochemicals, and 100 billion yuan from healthcare [8].

Core Viewpoint - Jinfa Technology (600143.SH) is expected to achieve a net profit of 5.50 billion to 6.50 billion yuan in the first half of 2025, reflecting a year-on-year increase of 44.82% to 71.15% [1] Group 1: Financial Performance - The company anticipates a non-recurring net profit of 5.01 billion to 6.01 billion yuan, representing a year-on-year growth of 43.48% to 72.12% [1] - The growth is attributed to the steady increase in sales and gross profit from modified plastics, improved operational quality in green petrochemicals, and growth in sales and gross profit from special engineering plastics [1] Group 2: Business Segments - The modified plastics business is a core driver of Jinfa Technology's stable growth, with continuous product development and market share expansion in sectors such as automotive, electronics, and new energy [2] - The special engineering plastics segment has become a significant performance driver, with a 91% year-on-year increase in sales volume in Q1 2025 [3] Group 3: Technological Advancements - Jinfa Technology has launched a new generation of low-carbon LCP materials and is the second company globally to receive ISCC PLUS certification for LCP materials [4] - The company is focusing on the industrialization of new materials such as long-chain polyamide and PEEK, with applications in high-end sectors like robotics and aerospace [4] Group 4: Global Expansion - The company is actively pursuing global expansion, with successful establishment of overseas bases in Vietnam and Spain, and ongoing construction in Poland, Mexico, and Indonesia [2] Group 5: Future Outlook - With the recovery of the manufacturing sector and the acceleration of new production capabilities, Jinfa Technology is positioned to strengthen its leading position in the chemical new materials sector [5] - The company maintains a stable cash dividend policy, having distributed a total of 67.53 billion yuan in dividends since its listing, indicating a commitment to returning value to investors [4][6]

Group 1 - The company expects to achieve a net profit attributable to shareholders of 550 million to 650 million yuan for the first half of 2025, representing an increase of 170 million to 270 million yuan compared to the same period last year, with a year-on-year growth of 44.82% to 71.15% [1][2] - The company anticipates a net profit attributable to shareholders after deducting non-recurring gains and losses of 501 million to 601 million yuan, which is an increase of 152 million to 252 million yuan compared to the same period last year, reflecting a year-on-year growth of 43.48% to 72.12% [1][2] - The previous year's net profit attributable to shareholders was 380 million yuan, and the profit before tax was 518 million yuan [2] Group 2 - The main reasons for the expected profit increase include advanced material research and application innovation capabilities, strengthened industry chain collaboration, and improved global layout, leading to steady growth in revenue and significant increase in net profit [2] - The company has seen steady growth in sales and gross profit in sectors such as automotive, electronics, and new energy, while accelerating its global expansion with rapid growth in overseas business [2] - Cost reduction and efficiency improvement through process optimization, along with the development of high-end specialty materials and acceleration of integrated synthesis and modification projects, have contributed to the continuous improvement in operational quality [2]

证券代码：600143 证券简称：金发科技 公告编号：2025-062 金发科技股份有限公司 关于拟计提资产减值准备的提示性公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 金发科技股份有限公司（以下简称"公司"）根据《企业会计准则》及公司 会计政策、会计估计等相关规定，为真实、准确、公允地反映公司财务状况、资 产价值及经营成果，基于谨慎性原则，对截至 2025 年 6 月 30 日合并报表中的应 收票据、应收账款、其他应收款、贷款、存货等出现减值迹象的相关资产进行了 减值测试，2025 年 1-6 月预计计提相应的资产减值准备合计 1.50 亿元至 1.80 亿 元。具体情况公告如下： 一、计提资产减值准备的具体说明 （一）计提金融资产减值准备的情况说明 二、计提资产减值准备对公司的影响 2025 年上半年，公司预计计提资产减值准备合计 1.50 亿元至 1.80 亿元，相 应减少公司 2025 年半年度利润总额 1.50 亿元至 1.80 亿元。本次拟计提资产减值 准备符合《企业会计准则》及公司会计政策等相关规定，符合 ...

证券代码：600143 证券简称：金发科技 公告编号：2025-061 金发科技股份有限公司 2025 年半年度业绩预增公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本期业绩预告适用于实现盈利，且净利润与上年同期相比上升 50%以上的 情形。 金发科技股份有限公司（以下简称"公司"）预计 2025 年半年度实现归属 于上市公司股东的净利润为 5.50 亿元到 6.50 亿元，与上年同期（法定披露数据） 相比，将增加 1.70 亿元到 2.70 亿元，同比增长 44.82%到 71.15%。 公司预计 2025 年半年度实现归属于上市公司股东的扣除非经常性损益的 净利润为 5.01 亿元到 6.01 亿元，与上年同期（法定披露数据）相比，将增加 1.52 亿元到 2.52 亿元，同比增长 43.48%到 72.12%。 一、本期业绩预告情况 （一）业绩预告期间 （三）本次业绩预告未经注册会计师审计。 1 / 3 二、上年同期经营业绩和财务状况 （一）利润总额：5.18 亿元。归属于上市公司股东的净利润：3 ...

Investment Rating - The report maintains an "Outperform" rating for the basic chemical industry [2] Core Viewpoints - The basic chemical sector has shown better performance than the market, with a year-to-date increase of 8.9%, outperforming the Shanghai Composite Index by 4.2 percentage points [4][16] - The global potash market is characterized by oligopoly, with major producers controlling supply and prices. Recent production cuts by key players are expected to sustain potash market conditions [5][27] - Phosphate supply remains tight, with stable prices and potential improvements in export opportunities as demand increases [5][27] Summary by Sections 1. Core Viewpoints - Policies are expected to improve supply-demand dynamics in the chemical sector, with a focus on cyclical investment opportunities [13] - The chemical industry is entering a new long-term prosperity cycle, driven by improved fundamentals and reduced risks [13][14] 2. Overall Performance of the Chemical Sector - The basic chemical industry index increased by 1.5% during the week, outperforming the Shanghai Composite Index by 0.4 percentage points [16] - Year-to-date, the basic chemical industry index has increased by 8.9%, significantly outperforming both the Shanghai Composite and ChiNext indices [16][18] 3. Individual Stock Performance in the Chemical Sector - Among 424 stocks in the basic chemical sector, 298 stocks rose while 123 fell during the week [25] - The top performers included companies like Shangwei New Materials (+72.9%) and Hongbo New Materials (+24.7%) [25][26] 4. Key News and Company Announcements - The autumn fertilizer preparation has begun, with a focus on investment opportunities in potash and phosphate fertilizers [27] - Major potash producers have announced production cuts, which are expected to tighten supply and support prices [5][27] - Phosphate prices remain stable, with potential for improved export conditions as demand increases [5][27] 5. Product Price Changes - The report highlights significant price increases in various chemical products, with notable gains in dimethylamine (+16.7%) and fatty alcohol (+8.2%) [6] - Conversely, urea prices have seen a significant decline (-15%) [6]

Core Viewpoint - The bio-based industry is rapidly developing under the dual drive of policy and demand, aiming for a collaborative upgrade towards non-grain raw materials, large-scale production, and diversified application scenarios [1] Group 1: Industry Development - Bio-based products are expected to continuously replace fossil raw materials due to their renewable nature, lower carbon emissions during production, and energy savings [2] - BASF views bio-based materials as a crucial part of its carbon management strategy, with sustainable sales accounting for 41% in 2023 and a target of over 50% by 2030 [2] - The Chinese government emphasizes the development of the bio-based industry as a strategic emerging industry and a key support for achieving carbon neutrality goals [2] Group 2: Challenges and Recommendations - The bio-based industry in China faces challenges in raw material costs, key technology, and application development, making it difficult to disrupt the dominance of petroleum-based products in the short term [3] - Experts recommend accelerating the transition from grain to non-grain raw materials, improving key technologies to enhance product performance, and expanding market application scenarios [3] Group 3: Future Directions of Bio-Manufacturing - Future bio-manufacturing will focus on six areas: biofuels, bio-based chemicals, bio-based materials, biopharmaceuticals, food industry products, and enzyme preparations [4][5] - Biofuels, such as bio-aviation fuel and biogas, are expected to gradually replace petroleum due to their low carbon and cost-effective characteristics [4] - The production of bio-based chemicals like succinic acid and pentamethylenediamine shows significant energy and greenhouse gas emission reductions compared to petrochemical routes [4]

Summary of Key Points Core Viewpoint - The announcement details the completion of a share reduction plan by shareholder Xiong Haitao, who reduced her holdings in Jinfat Technology Co., Ltd. by approximately 26.36 million shares, representing 0.9998% of the company's total share capital [1][4]. Group 1: Shareholder Information - Before the reduction plan, Xiong Haitao held 69,601,359 shares, accounting for 8.2015% of the total share capital [1]. - The reduction plan was initially disclosed on March 21, 2025, with a maximum intended reduction of 26,360,000 shares [1]. - The actual reduction occurred between April 25, 2025, and July 8, 2025, with a total of 26,359,900 shares sold [1][4]. Group 2: Reduction Details - The shares were sold through centralized bidding, with a price range of 10.26 to 11.22 CNY per share [3]. - The total amount raised from the share reduction was approximately 281.81 million CNY [3]. - After the reduction, Xiong Haitao and her concerted actions still hold a combined total of 189,881,459 shares, which is 7.2017% of the total share capital [3][4]. Group 3: Compliance and Confirmation - The actual reduction was consistent with the previously disclosed plan, and the minimum reduction quantity was achieved [4]. - The reduction plan was not terminated early and was fully implemented as intended [4].

证券代码：600143 证券简称：金发科技 公告编号：2025-060 金发科技股份有限公司 股东减持股份结果公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 1 股东名称 熊海涛 股东身份 控股股东、实控人及一致行动人 □是 √否 直接持股 5%以上股东 □是 √否 董事、监事和高级管理人员 □是 √否 其他：与一致行动人合计持股 5%以上股东 持股数量 69,601,359股 持股比例 2.6398% 一、减持主体减持前基本情况 | 当前持股股份来源 | | --- | 当前持股股份来源 大宗交易取得：57,385,999股 其他方式取得：12,215,360股 注: 本次减持计划实施前，熊海涛女士未持有 IPO 前取得的股份，其此前已将其持有的 全部 IPO 前取得的股份转让给其一致行动人。 | 股东名称 | 持股数量 | 持股比 | 一致行动关系形 | | --- | --- | --- | --- | | | （股） | 例 | 成原因 | | 熊海涛 | 69,601,359 | 2. ...

二、公司在注册有效期内可分期发行中期票据，接受注册后如需备案发行， 应事前先向交易商协会备案。公司应按照有权机构决议及相关管理要求，进行发 行管理。发行完成后，应通过交易商协会认可的途径披露发行结果。 金发科技股份有限公司 关于中期票据注册申请获准的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 金发科技股份有限公司（以下简称"公司"）分别于 2025 年 1 月 6 日、2025 年 1 月 22 日召开了第八届董事会第十次（临时）会议和 2025 年第一次临时股东 大会，审议通过了《关于公司申请注册发行中期票据的议案》，同意公司向中国 银行间市场交易商协会（以下简称"交易商协会"）申请注册并在中国境内发行 本金总额不超过 40 亿元人民币（含 40 亿元）的中期票据。具体内容详见公司刊 登在指定信息披露媒体及上海证券交易所网站（www.sse.com.cn）上的相关公告。 近日，公司收到交易商协会出具的《接受注册通知书》（中市协注〔2025〕 MTN610 号），交易商协会决定接受公司中期票据注册，并就有关事项明确如 ...