股票代码：600160 股票简称：巨化股份 公告编号：临 2025-31 浙江巨化股份有限公司 关于举办投资者接待日活动的公告 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个别及连带责任。 为进一步加强与投资者沟通交流，解答投资者关心的各类问题，倾听投资者 的意见和建议，便于广大投资者全面、深入地了解浙江巨化股份有限公司（以下 简称"公司"）的生产经营情况，公司定于 2025 年 6 月 13 日以现场方式举行投 资者接待日活动。现将有关事项公告如下： 为了更好地安排本次活动，请有意参与本次活动的投资者于 2025 年 6 月 12 日 17:30 前，扫描下列二维码预约登记。由于接待规模限制，本次现场参观活动 名额仅限 50 人，公司将依据报名顺序进行审核，敬请谅解。 1 一、活动召开时间及地点 活动时间：2025 年 6 月 13 日下午 15:00-17:00 活动地点：浙江省衢州市柯城区 浙江巨化股份有限公司（公司办公大楼） 二、出席人员 公司总经理韩金铭先生、董事会秘书刘云华先生、财务负责人王笑明先生。 三、活动安排 投资者 ...

Group 1 - As of June 6, the PVDF concept index rose by 1.76%, ranking 8th among concept sectors, with 10 stocks increasing in value [1] - Notable gainers in the PVDF sector included Zhejiang Zhongcheng, which hit the daily limit, and other companies like Yonghe Co., ST Lianchuang, and Duofluo, which rose by 6.56%, 2.63%, and 2.61% respectively [1] - The sector experienced a net inflow of 273 million yuan, with Zhejiang Zhongcheng leading the inflow at 189 million yuan, followed by Yonghe Co. and Juhua Co. with inflows of 54.89 million yuan and 31.85 million yuan respectively [2][3] Group 2 - The top stocks in terms of net inflow ratio included Zhejiang Zhongcheng at 45.14%, Yonghe Co. at 12.54%, and Duofluo at 7.03% [3] - The trading volume for Zhejiang Zhongcheng was significant, with a turnover rate of 8.96% and a price increase of 9.94% [3] - Other stocks in the PVDF sector showed varied performance, with some experiencing declines, such as Heimao Co. and Jinming Precision Machinery, which fell by 1.17% and 1.93% respectively [4]

Core Viewpoint - Recent market fluctuations in new consumption have created opportunities in other sectors, with significant rebounds observed in technology and cyclical stocks [1] Group 1: Market Performance - The non-ferrous metals sector has shown strong performance, with precious metals, zinc, and lead experiencing notable gains. Silver futures prices have recently strengthened as investor demand for precious metals has expanded from gold to silver [1] - The chemical sector has been active, with glyphosate, fluorochemicals, and epoxy propylene leading in gains. Notably, the "refrigerant duo" of Sanmei Co. and Juhua Co. reached historical highs in stock prices [3][4] - The overall market saw slight declines, with the Shanghai Composite Index down 0.06%, Shenzhen Component Index down 0.18%, and ChiNext Index down 0.48% at the close [1] Group 2: Refrigerant Market Insights - The price of the third-generation refrigerant R32 has increased to an average of 51,000 yuan per ton, marking a 19% rise this year and a 42% year-on-year increase. This price surge is attributed to seasonal demand and supply constraints due to quota policies [3][4] - Analysts indicate that the refrigerant market is experiencing a favorable competitive landscape due to quota restrictions, which optimize supply dynamics and maintain high price levels [4] Group 3: Solid-State Battery Sector - The solid-state battery sector has seen significant gains, with companies like Haitian Pharmaceutical, Xiamen Tungsten, and Keheng Co. experiencing substantial stock price increases [5][6] - Recent developments in the solid-state battery industry include advancements in high-nickel precursors and lithium-rich manganese-based precursors, with companies actively engaging in customer validations [7] - The release of the "Full Solid-State Battery Determination Method" by the China Automotive Engineering Society marks a critical turning point for the solid-state battery industry, establishing clear technical definitions and accelerating industrial upgrades [7]

Market Overview - Recent market trends indicate a pullback in the new consumption sector, creating opportunities in other sectors, particularly in cyclical stocks [1] - The non-ferrous metals sector has shown significant gains, with precious metals, zinc, and lead experiencing notable increases [1] - Silver futures prices have strengthened as investor demand for precious metals has expanded from gold to silver, leading to strong performances from silver-related stocks [1] Chemical Sector Performance - The chemical sector has been active, with notable gains in glyphosate, fluorochemicals, and epoxy propylene, among others [1] - Key stocks such as Sanmei Co. and Juhua Co. reached historical highs during trading [2][1] Refrigerant Price Trends - The price of third-generation refrigerants has been on the rise, with the average domestic price of R32 refrigerant reaching 51,000 yuan per ton, marking a 19% increase this year and a 42% year-on-year growth [4] - Analysts attribute the price increase to seasonal demand driven by high summer temperatures and supply constraints due to quota policies [5] Solid-State Battery Sector - The solid-state battery sector has seen a surge, with companies like Haitian Pharmaceutical, Xiamen Tungsten, and Keheng Co. experiencing significant stock price increases [6] - Recent developments in the solid-state battery industry include advancements in high-nickel precursors and lithium-rich manganese-based precursors by companies like Longpan Technology [7] - The introduction of the "full solid-state battery" definition by the China Automotive Engineering Society marks a critical turning point for the solid-state battery industry, potentially reshaping the competitive landscape [8]

6月6日，A股早盘窄幅震荡，超2900只个股下跌，半日成交额7467亿，较上个交易日放量324亿。截至 收盘，沪指跌0.06%，深成指跌0.18%，创业板指跌0.48%。 消息面上，因特朗普与马斯克关系恶化，隔夜美股高开低走，三大指数集体收跌，大型科技股多数下 跌，特斯拉暴跌逾14%市值跌破万亿。 盘面上，市场热点轮动较快，煤炭、银行等高股息风格活跃，大有能源涨停；有色金属板块走强，白银 方向领涨，湖南白银等涨停；化工板块走高，氟化工方向领涨，三美股份、巨化股份双双创历史新高； 固态电池概念拉升，海辰药业20%涨停；存储芯片概念异动，好上好涨停；此外，军工、建筑装饰等板 块盘中均轮动表现。下跌方面，IP经济、宠物经济等新消费概念走低，足球概念回调，游戏、汽车等板 块跌幅居前。 展望后市，中国银河认为，短期内，市场或仍维持震荡格局，关注外部关税的变化与国内政策的落地节 奏。 热门板块 1、有色金属板块走强 有色金属板块走强，白银方向领涨，白银有色、湖南白银、厦门信达等涨停，兴业银锡、盛达资源等跟 涨。 点评：消息面上，周四现货白银一度暴涨4.5%，触及每盎司36美元整数关口的上方，创下2012年2月以 来最高水 ...

Core Viewpoint - The fluorochemical sector experienced a significant rally, with companies such as Sanmei Co. and Juhua Co. reaching historical highs, driven by rising prices and profits in the refrigerant market [1] Group 1: Market Performance - The fluorochemical sector saw a notable increase, with Sanmei Co. and Juhua Co. both achieving record highs, rising over 4% [1] - Yonghe Co. approached the daily limit up, indicating strong market interest [1] - Other companies in the sector, including Jinshi Resources, Xingfa Group, and Haohua Technology, also experienced gains [1] Group 2: Price and Profit Data - The average domestic price of the third-generation refrigerant R32 has surpassed 50,000 yuan per ton, reflecting a year-on-year increase of 42% [1] - As of June 5, the gross profit for the R32 industry reached 35,000 yuan per ton, which is an increase of over 10,000 yuan per ton compared to the same period last year [1]

Investment Rating - The report maintains a "Buy" rating for several companies including Xinyangfeng, Senqilin, Ruifeng New Materials, Sinopec, and others [10]. Core Viewpoints - The report highlights significant price increases in phosphate rock (10.00%) and glyphosate (6.79%), while products like butadiene and aniline saw substantial declines [3][4]. - It suggests focusing on import substitution, domestic demand, and high dividend opportunities in the current market environment [5][21]. - The international oil prices are stabilizing, with WTI at $60.79 per barrel and Brent at $63.90 per barrel, indicating a projected average of $70 for 2025 [5][20]. Summary by Sections Industry Tracking - International oil prices are fluctuating within a narrow range, with market assessments indicating a stable supply outlook [22]. - The domestic propane market experienced a decline after an initial stabilization, with average prices at 4988 CNY/ton [25]. - The domestic coal market showed mixed price movements, averaging 532 CNY/ton, with expectations of increased demand as summer approaches [26]. Price Movements - Significant price increases were noted in phosphate rock and glyphosate, while butadiene and aniline experienced notable declines [19]. - The report indicates a weak overall performance in the chemical industry, with mixed results across sub-sectors due to past capacity expansions and weak demand [21]. Investment Opportunities - The report emphasizes the potential for investment in sectors benefiting from import substitution, such as lubricating oil additives and special coatings [21]. - It also highlights the resilience of the tire industry, suggesting companies like Senqilin and Sailun Tire as potential investment targets [21]. - The report recommends focusing on high-quality assets with strong dividend yields, particularly in the oil sector, including Sinopec and China National Offshore Oil Corporation [21].

Core Points - The China Securities Index for Zhejiang State-owned Enterprises rose by 1.29% to 2293.62 points, with a trading volume of 12.048 billion yuan [1] - Over the past month, the index has increased by 6.85%, by 7.04% over the last three months, and by 8.54% year-to-date [1] Index Composition - The index consists of 50 representative listed companies with high state-owned shareholding, large market capitalization, strong profitability, and high R&D intensity, reflecting the overall performance of Zhejiang's state-owned listed companies [1] - The top ten weighted stocks in the index are: Hangzhou Bank (11.67%), Ningbo Bank (10.41%), Small Commodity City (9.72%), Zheshang Bank (8.39%), Juhua Co. (8.34%), Zheshang Securities (4.54%), Caitong Securities (4.19%), Zhejiang Energy Power (4.05%), Zhejiang Shuzi Culture (3.02%), and Wuchan Zhongda (2.75%) [1] Market Segmentation - The index's holdings are primarily listed on the Shanghai Stock Exchange (76.04%) and the Shenzhen Stock Exchange (23.96%) [1] - In terms of industry distribution, the index shows a significant allocation to finance (41.21%), followed by industrials (24.00%), materials (13.16%), communication services (6.30%), healthcare (5.86%), utilities (5.83%), consumer discretionary (2.44%), and consumer staples (1.21%) [2] Index Adjustment Mechanism - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [2] - Weight factors are generally fixed until the next scheduled adjustment, with special circumstances allowing for temporary adjustments [2]

Investment Rating - The report suggests a positive outlook for the refrigerant sector, recommending attention to companies such as Juhua Co., Sanmei Co., and Yonghe Co. due to expected demand growth and price increases in refrigerants [5]. Core Insights - The refrigerant market is entering a demand peak season, with prices and margins for major refrigerant types on the rise. The report highlights the impact of high summer temperatures and supply constraints due to quota policies [5][25]. - The explosion at Youdao Chemical has raised concerns in the pesticide industry, potentially affecting supply and prices of intermediates like K amine, while stricter regulations may benefit leading companies with better safety and management practices [4][5]. Summary by Sections 1. Key Chemical Product Price Tracking - Notable price increases were observed in formic acid (6.52%), dichloromethane (4.36%), and acrylamide (4.55%), while TMA and dichloromethane saw significant declines [13][18]. 2. Polyurethane - MDI prices decreased while TDI prices increased due to seasonal demand fluctuations and maintenance schedules at several production facilities [16]. 3. Agricultural Chemicals - Glyphosate prices rose slightly to 23,397 CNY/ton, supported by strong demand and reduced supply from some factories [18]. 4. Fluorinated Chemicals - Prices for third-generation refrigerants R32 and R134a increased, driven by seasonal demand and supply constraints. R32 is priced at 51,000 CNY/ton, and R134a at 48,500 CNY/ton [25][32]. 5. Phosphate Fertilizers - Prices for monoammonium phosphate and diammonium phosphate remained stable, with production pressures and inventory levels being closely monitored [20][21]. 6. Urea and Potassium Chloride - Urea prices decreased to 1,863 CNY/ton due to market adjustments and reduced export volumes, while potassium chloride prices remained stable at 2,956 CNY/ton [21][24].

Investment Rating - The report provides a standard investment rating for the basic chemical industry, indicating a cautious outlook due to recent market fluctuations and supply chain disruptions [1]. Core Insights - Japan's Mitsui Chemicals is exiting the NF3 business, which may enhance China's competitiveness in electronic specialty gases, with potential market share expansion [4][10]. - The chlorantraniliprole incident has caused supply disruptions, potentially boosting the market for pesticides and intermediates, with a shift towards high-efficiency, low-toxicity products [4][12]. - The report suggests focusing on key sub-sectors such as integrated refining and petrochemical chains, refrigerant industry leaders, and domestic alternative materials [4][14]. Summary by Sections 1. Industry News and Event Commentary - Mitsui Chemicals' exit from the NF3 business is attributed to rising competition and costs, indicating that Chinese manufacturers may fill the gap and increase exports [10][11]. - The chlorantraniliprole incident is expected to accelerate market consolidation, benefiting companies with technological advantages and regulatory compliance [12][13]. 2. Chemical Sector Weekly Performance - For the week of May 26 to May 30, the Shanghai Composite Index fell by 1.08%, while the Shenwan Petroleum and Petrochemical Index rose by 0.40%, outperforming the market by 1.48 percentage points [15][18]. - The basic chemical index decreased by 0.66%, ranking 23rd among all Shenwan primary industries [15][18]. 3. Key Product Price and Spread Performance - Notable price increases included potassium chloride (up 5.66%) and paraxylene (up 4.94%), while hydrochloric acid saw a significant drop of 28.00% [27][28]. - The price spread for carbon black increased by 31.13%, indicating a tightening supply situation [29][30].