股票简称：巨化股份 股票代码：600160 公告编号：临 2025-13 浙江巨化股份有限公司 关于控股股东首次增持股份情况及增持计划的公告 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： 2025年4月8日，巨化投资通过上海证券交易所证券交易系统增持本公司股份 219.2万股，占公司已发行总股份的0.08%。 1 首次增持的时间及方式、增持的数量及比例：公司于 2025 年 4 月 8 日收 到公司控股股东巨化集团有限公司（以下简称"巨化集团"）函告，其一致行动 人浙江巨化投资有限公司（以下简称"巨化投资"）于 2025 年 4 月 8 日通过上 海证券交易所证券交易系统增持本公司股份 2,192,000 股，占公司已发行总股份 的 0.08%，增持后巨化集团及其一致行动人巨化投资合计持股比例由 53.43%增至 53.51%。 增持计划：巨化投资将自本公告日（含本日，下同）起 3 个月内，增持 的金额累计不少于人民币 5,000 万元（含本次），不超过人民币 10,000 万元（含 本次）。 风险 ...

Financial Performance Forecast - The company expects Q1 2025 net profit attributable to shareholders to be between 760 million to 840 million CNY, an increase of 450 million to 530 million CNY compared to the same period last year, representing a year-on-year growth of 145% to 171%[2]. - The estimated net profit after deducting non-recurring gains and losses for Q1 2025 is projected to be between 740 million to 820 million CNY, an increase of 452 million to 532 million CNY year-on-year, reflecting a growth of 157% to 185%[3]. - The net profit attributable to shareholders for the same period last year was 310.31 million CNY, and the net profit after deducting non-recurring gains and losses was 287.97 million CNY[4]. - The company achieved a basic earnings per share of 0.115 CNY in the same period last year[5]. Factors Influencing Profit - The significant increase in profit is primarily due to the substantial rise in the price of fluorinated refrigerants, driven by reduced production quotas and strong downstream demand[6]. - The company has maintained stable production and operational growth, overcoming seasonal and structural market challenges to achieve increased production and efficiency[6]. Forecast Accuracy and Reporting - There are no major uncertainties affecting the accuracy of the profit forecast[7]. - The forecast data is preliminary and subject to confirmation in the official Q1 2025 report[8]. - The company will provide detailed operational data for Q1 2025 in a separate announcement[8]. - The announcement was made by the board of directors on April 8, 2025[9].

股票简称：巨化股份 股票代码：600160 公告编号：临 2025－11 浙江巨化股份有限公司 2025 年 1-3 月主要经营数据公告 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。 浙江巨化股份有限公司（以下简称"公司"）根据《上海证券交易所上市公司 自律监管指引第 3 号——行业信息披露（第十三号化工）》有关规定，将公司 2025 年 1-3 月主要经营数据披露如下： 【注】： 1、同比：指报告期与上年同期相比； 2、外销量低于产量，主要为部分产品作为内部下游产品原料所致； 3、基础化工产品中不含乙炔气、氢气、香精、冷冻油及其他非主要产品（下同）； 4、致冷剂（含全部品种）产量含混配致冷剂产量,产量大于销量主要为部分致冷剂用于公司混配致冷剂原料 所致。 二、主要产品和原材料的价格变动情况 第 1 页 共 3 页 主要产品 产量 同比 外销量 同比 营业收入 同比 吨 % 吨 % 万元 % 氟化工原料 292299.91 13.04 86881.55 11.07 32583.03 26.90 致冷剂 143563.6 ...

巨化股份 20250407 摘要 Q&A 近期巨化股份的市场表现和公司经营情况如何？ 巨化股份近期因市场涨价和对等关税等因素，股价有所波动。总体来看，公司 目前的经营情况良好，智能机产品进入旺季，价格上涨，需求旺盛，生产顺利。 尽管股价一度跌停，但整体经营状况没有问题。 对于中美贸易摩擦中的对等关税，公司受到的影响如何？ 中美贸易摩擦中的对等关税对公司的影响极其有限。三代制冷剂如 134S 明确在 清单内，而其他含氟烯烃和不含饱和烃的组合物也涉及一些清单内容。然而， 由于我们在阿联酋有生产基地，其基本关税仅为 10%，相对于其他国家进入美 • 中美贸易摩擦对巨化股份影响有限，阿联酋生产基地具备竞争优势，且公 司已应对过类似双反措施，受美国 454B 制冷剂政策影响较小。 • 智能机行业供需格局持续优化，库存出货充分，国际市场内外价差迅速填 补，配额制度下需求增加，竞争生态向好，利好行业发展。 • 全球南方国家空调市场潜力巨大，尤其是印度等地区，空调普及率远低于 中国，未来市场规模有望增长十倍以上，为公司带来增长机遇。 • 制冷剂价格上涨受环保因素和市场需求双重影响，替代品如二氧化碳成本 较高，智能机需综合考虑 ...

Investment Rating - The report maintains a "Buy" rating for several companies including China Petroleum & Chemical Corporation, China National Offshore Oil Corporation, and others [9]. Core Viewpoints - The report highlights significant price increases in sulfur and urea, suggesting continued attention on the crude oil, titanium dioxide, and tire sectors [1][6]. - The impact of U.S. tariff policies has led to a rapid decline in crude oil prices, with WTI and Brent crude prices dropping by 10.63% and 10.93% respectively [6][22]. - The chemical sector is experiencing mixed performance, with some sub-sectors like tires and upstream mining showing strong results, while others are under pressure due to capacity expansions and weak demand [7][21]. Summary by Sections Chemical Industry Investment Suggestions - The report discusses the influence of U.S. tariffs on crude oil prices and recommends focusing on undervalued, high-dividend companies like Sinopec and CNOOC [6][22]. - It notes that the chemical product prices are rebounding as downstream demand improves, with significant increases in sulfur (9.17%) and urea (7.53%) [19][21]. - The report emphasizes the importance of identifying leading companies in sub-sectors that are likely to see valuation recovery, such as Wanhua Chemical and Longbai Group [8][21]. Price Movements - The report details the price movements of various chemical products, highlighting both increases and decreases in prices across different categories [19][21]. - It notes that while some products like sulfur and urea have seen price increases, others like methyl isocyanate and domestic naphtha have experienced declines [5][19]. Key Companies and Earnings Forecast - The report provides a detailed earnings forecast for key companies, indicating expected EPS growth and PE ratios for 2023 to 2025, with a consistent "Buy" rating across the board [9]. - Companies highlighted include Senqcia, Sinopec, and Yanguang Chemical, all of which are expected to show positive earnings growth in the coming years [9].

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - Bromine prices continue to rise, with a 15.12% increase this week, reaching 33,385 RMB/ton, following a 20.83% rise last week, and showing an 85.47% year-on-year increase [3][4] - The refrigerant sector remains strong, with R32 prices at 48,000 RMB/ton, up 5.49% from last week, driven by seasonal demand [4][5] - EVA prices have stabilized and slightly rebounded, with an average market price of 11,443 RMB/ton, reflecting a 5.47% increase since the beginning of the year [4][5] Summary by Sections 1. Sub-industry and Product Tracking - Bromine prices have shown a significant increase due to seasonal demand and supply constraints, with a current price of 33,385 RMB/ton [3][4] - Refrigerant prices are on the rise, with R32 at 48,000 RMB/ton and R125 at 45,000 RMB/ton, indicating strong market performance [4][9] - EVA prices have stabilized, with a slight rebound observed, maintaining a market average of 11,443 RMB/ton [4][42] 2. Key Industry Trends - The fluorochemical sector is experiencing a demand surge, particularly in refrigerants, with major price increases noted [5][11] - The low-altitude economy and robotics industry are expected to drive demand for new materials, such as carbon fiber and ultra-high molecular weight polyethylene [5][25] - The semiconductor materials market is growing, with China's market size increasing from 52.5 billion RMB to 95.1 billion RMB from 2017 to 2023, reflecting a CAGR of 10% [16][19] 3. Company Announcements and Industry News - Key companies in the bromine market include those involved in the production of flame retardants and pharmaceutical intermediates [3][4] - Companies like Juhua Co. and Sanmei Co. are recommended for investment due to their strong performance in the fluorochemical sector [5][11] - The report highlights the importance of domestic semiconductor material manufacturers as the industry moves towards greater localization [18][19]

Group 1 - The core viewpoint of the news is the performance of the CSI Chemical Index, which has shown an increase of 1.62% in the past month and 4.43% in the past three months, with a year-to-date increase of 4.43% [1] - The CSI Chemical Index is categorized into 11 primary industries, 35 secondary industries, over 90 tertiary industries, and more than 200 quaternary industries, providing a comprehensive analysis tool for investors [1] - The top ten weighted stocks in the CSI Chemical Index include Wanhua Chemical (7.35%), Salt Lake Industry (3.68%), and Satellite Chemical (2.22%) among others [1] Group 2 - The market share of the CSI Chemical Index holdings is distributed as follows: Shenzhen Stock Exchange 52.02%, Shanghai Stock Exchange 47.73%, and Beijing Stock Exchange 0.24% [1] - The composition of the CSI Chemical Index holdings by industry shows that chemical products account for 33.16%, chemical raw materials 27.50%, and agricultural chemicals 19.69% [2] - The index sample is adjusted biannually, with adjustments implemented on the next trading day following the second Friday of June and December [2]

Core Viewpoint - The PVDF concept sector has shown a significant increase of 1.84%, leading the market in terms of growth, with notable stocks such as Heimao Co., Jinming Precision Machinery, and Sanmei Co. experiencing substantial gains [1][2]. Market Performance - The PVDF concept sector ranked first in today's market performance, with 12 stocks rising, including Heimao Co. (+6.83%), Jinming Precision Machinery (+5.82%), and Sanmei Co. (+3.09%) [1][2]. - Other notable sectors included Noise Control (+1.57%) and Camping Economy (+1.54%), while sectors like Combustible Ice and Controlled Nuclear Fusion saw declines of -1.62% and -1.15%, respectively [2]. Capital Flow - The PVDF concept sector attracted a net inflow of 144 million yuan, with eight stocks receiving significant capital inflows. Heimao Co. led with a net inflow of approximately 52.89 million yuan [2][3]. - Other companies with notable net inflows included Juhua Co. (48.30 million yuan), Jinming Precision Machinery (22.38 million yuan), and Putailai (11.17 million yuan) [2][3]. Capital Inflow Ratios - Heimao Co., Jinming Precision Machinery, and Juhua Co. had the highest net inflow ratios at 11.43%, 10.01%, and 7.81%, respectively [3]. - The detailed capital inflow data for the top stocks in the PVDF concept sector indicates varying performance, with Heimao Co. showing a daily increase of 6.83% and a turnover rate of 5.21% [3].

Group 1 - China Aluminum reported a net profit of 12.4 billion yuan for 2024, an increase of 85.38% year-on-year, with a proposed cash dividend of 0.135 yuan per share [1] - Lihua Technology's net profit for 2024 decreased by 25.41% to 245 million yuan, with a proposed cash dividend of 0.7 yuan per 10 shares [1][2] - Zhongjing Food achieved a net profit of 175 million yuan in 2024, up 1.81% year-on-year, proposing a cash dividend of 8 yuan per 10 shares [3][4] - Sanwei Chemical's net profit fell by 6.92% to 263 million yuan, with a proposed cash dividend of 3 yuan per 10 shares [5] - Meino Biological's project for corn protein processing has received construction approval, with an investment of approximately 391 million yuan [6][7] Group 2 - Guangdian Electric's net profit surged by 411.28% to 74.73 million yuan, proposing a cash dividend of 0.7 yuan per 10 shares [13][14] - Xin'ao Co. reported a net profit of 4.493 billion yuan for 2024, down 36.64%, with a proposed cash dividend of 10.3 yuan per 10 shares [15] - Huaren Pharmaceutical's subsidiary received approval for a raw material drug, enhancing its product line [16] - Huanxin Technology received a project confirmation from BAIC Group for two display screen products, expected to enter mass supply [17] - Haitong Development plans to purchase four bulk carriers for a total of 59.25 million USD to expand its fleet [18] Group 3 - Guochuang High-tech won a bid for an asphalt procurement project worth 128 million yuan [22][23] - Huayi Pharmaceutical's subsidiary received overseas marketing approvals for several products [24] - Haisco's innovative drug HSK41959 has received clinical trial approval [25] - Hetai Machinery's subsidiary obtained a patent for a dust-proof chain technology [28] - Le Xin Medical's fetal heart rate monitor registration renewal application has been accepted [29] Group 4 - Feilong Co. became a designated supplier for an international client's electronic oil pump project, with expected sales of approximately 160 million yuan [29] - Yunnan Copper reported a net profit of 1.265 billion yuan for 2024, down 19.9%, with a proposed cash dividend of 2.4 yuan per 10 shares [42] - China Merchants Bank's net profit increased by 1.22% to 148.39 billion yuan, proposing a cash dividend of 20 yuan per 10 shares [43] - Shuanghui Development's net profit decreased by 1.26% to 4.989 billion yuan, with a proposed cash dividend of 7.5 yuan per 10 shares [44]