Quantitative Models and Construction Methods - **Model Name**: "Preferred Gold Stock Portfolio" **Model Construction Idea**: The model leverages the superior performance of newly introduced gold stocks and incorporates the "Surprise Earnings Factor" (SUE factor) to select stocks with outstanding earnings surprises [26] **Model Construction Process**: 1. Use newly introduced gold stocks as the sample pool 2. Select the top 30 stocks with the highest earnings surprises based on the SUE factor 3. Weight the portfolio based on the number of recommendations from brokers **Model Evaluation**: The model demonstrates better performance compared to the overall gold stock portfolio, with higher annualized returns and lower maximum drawdowns [26][28] Model Backtesting Results - **Preferred Gold Stock Portfolio**: - May Return: -1.1% - 2025 YTD Return: 6.5% - Annualized Return: 19.7% - Annualized Volatility: 25.4% - Return-to-Volatility Ratio: 0.78 - Maximum Drawdown: 24.6% [28][29] - **Overall Gold Stock Portfolio**: - May Return: 0.9% - 2025 YTD Return: 5.9% - Annualized Return: 11.0% - Annualized Volatility: 23.5% - Return-to-Volatility Ratio: 0.47 - Maximum Drawdown: 42.6% [24][28] Quantitative Factors and Construction Methods - **Factor Name**: Surprise Earnings Factor (SUE Factor) **Factor Construction Idea**: The factor identifies stocks with earnings significantly exceeding market expectations, which are likely to outperform [26] **Factor Construction Process**: 1. Calculate the earnings surprise for each stock as the difference between actual earnings and consensus estimates 2. Rank stocks based on the magnitude of earnings surprises 3. Select the top-performing stocks with the highest earnings surprises [26] **Factor Evaluation**: The SUE factor shows strong stock selection capabilities, particularly within newly introduced gold stocks [26] Factor Backtesting Results - **SUE Factor**: Integrated into the "Preferred Gold Stock Portfolio," contributing to its superior performance metrics compared to other portfolios [26][28]

证券代码：600160 证券简称：巨化股份 公告编号：临 2025-29 浙江巨化股份有限公司 关于控股股东增持股份进展公告 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： ? 已披露增持计划情况：公司控股股东巨化集团有限公司（以下简称"巨 化集团"）基于对公司未来经营业绩和发展的信心，通过其一致行动人浙江巨化 投资有限公司（以下简称"巨化投资"）自2025年4月8日起3个月内，通过上海 证券交易所交易系统以集中竞价方式增持公司股份，金额累计不少于人民币 ? 增持计划的实施进展： 份219.2万股，占公司已发行总股份的0.08%，增持金额为4,998.90万元（不含交 易费用）。详见公司临2025-13号《巨化股份关于控股股东首次增持股份情况及 增持计划的公告》。 式增持公司股份41.95万股，占公司总股本的0.0155%，增持金额为999.47万元（不 含交易费用）。详见公司临2025-14号《巨化股份关于控股股东增持股份进展公 告》。 式增持公司股份75.76万股，占公司总股本的0.0281%，增 ...

证券代码：600160 证券简称：巨化股份 公告编号：临 2025-29 浙江巨化股份有限公司 关于控股股东增持股份进展公告 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： 已披露增持计划情况：公司控股股东巨化集团有限公司（以下简称"巨 化集团"）基于对公司未来经营业绩和发展的信心，通过其一致行动人浙江巨化 投资有限公司（以下简称"巨化投资"）自2025年4月8日起3个月内，通过上海 证券交易所交易系统以集中竞价方式增持公司股份，金额累计不少于人民币 5,000万元，不超过人民币10,000万元。 增持计划的实施进展： 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%，增持金额为4,998.90万元（不含交 易费用）。详见公司临2025-13号《巨化股份关于控股股东首次增持股份情况及 增持计划的公告》。 2025年4月16日，巨化投资通过上海证券交易所交易系统以集中竞价交易方 式增持公司股份41.95万股，占公司总股本的0.015 ...

Core Points - The company Zhejiang Juhua Co., Ltd. announced its annual profit distribution plan for 2024, which was approved at the shareholders' meeting on May 15, 2025 [2][4]. Distribution Details - The cash dividend per share for A-shares is set at 0.23 yuan, amounting to a total cash distribution of approximately 620.94 million yuan based on the total share capital of 2,699,746,081 shares [2][4]. - The distribution will be made to all shareholders registered with the China Securities Depository and Clearing Corporation Limited Shanghai Branch as of the close of trading on the day before the equity registration [3][4]. Implementation Method - The cash dividends for unrestricted circulating shares will be distributed through the clearing system of the China Securities Depository and Clearing Corporation [5]. - Shareholders who have completed designated transactions can receive their cash dividends on the distribution date at their designated securities business department [5]. Taxation Information - For individual shareholders holding unrestricted circulating shares for over one year, the cash dividend is exempt from personal income tax, resulting in a net distribution of 0.23 yuan per share [9]. - For shares held for one year or less, the company will not withhold personal income tax at the time of distribution, but the tax will be calculated and deducted upon the transfer of shares [9]. - Qualified Foreign Institutional Investors (QFIIs) will have a 10% withholding tax applied, resulting in a net cash dividend of 0.207 yuan per share [10].

证券代码：600160 证券简称：巨化股份 公告编号：临 2025-28 浙江巨化股份有限公司 2024年年度权益分派实施公告 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： 每股分配比例 A 股每股现金红利0.23元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/6/5 | － | 2025/6/6 | 2025/6/6 | 差异化分红送转： 否 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经公司2025 年 5 月 15 日的2024年年度股东大会审议通过。 1. 发放年度：2024年年度 2. 分派对象： 三、 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/6/5 | － | 2025/6/6 | 2025/6/6 | ...

登录新浪财经APP 搜索【信披】查看更多考评等级 股票简称：巨化股份 股票代码：600160 公告编号：临2025-27 浙江巨化股份有限公司 关于参加"在浙里 看国企"浙江国有控股上市公司集体 业绩说明会的公告 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。 欢迎广大投资者积极参与本次业绩说明会。 ■ （问题征集专题页面二维码） 一、本次业绩说明会的安排 1、召开时间：2025年5月29日14:30-17:15 2、召开方式：视频直播 3、公司出席人员：董事、总经理韩金铭，董事、董事会秘书刘云华，董事、财务负责人王笑明，独立 董事鲁桂华（线上参会）。 4、投资者参与方式：投资者可登录"全景路演"网站（https://rs.p5w.net），或关注微信公众号：全景财 经，或下载全景路演APP观看本次活动的视频直播。 二、投资者问题征询方式 为充分尊重投资者、提升交流的针对性，现就本次业绩说明会提前向投资者公开征集问题，广泛听取投 资者的意见和建议。投资者可于2025年5月27日（星期二）17:30前访问https://ir.p5w.net/zj/，或扫描下方 ...

股票简称：巨化股份 股票代码：600160 公告编号：临 2025-27 浙江巨化股份有限公司 关于参加"在浙里 看国企"浙江国有控股上市公司集体 业绩说明会的公告 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。 为进一步加强与投资者的互动交流，浙江巨化股份有限公司（以下简 称"公 司"）将参加由浙江省国资委、深圳市全景网络有限公司联合举办的"在浙里 看 国企"浙江国有控股上市公司集体业绩说明会，现将相关事项公告如下： 一、本次业绩说明会的安排 1、召开时间：2025 年 5 月 29 日 14:30-17:15 2、召开方式：视频直播 3、公司出席人员：董事、总经理韩金铭，董事、董事会秘书刘云华，董事、 财务负责人王笑明，独立董事鲁桂华（线上参会）。 4、投资者参与方式：投资者可登录"全景路演"网站（https://rs.p5w.net）， 或关注微信公众号：全景财经，或下载全景路演 APP 观看本次活动的视频直播。 二、投资者问题征询方式 欢迎广大投资者积极参与本次业绩说明会。 1 （问题征集专题页面二维码） 特此公告。 浙江巨化股份有限公司 2025 年 ...

Group 1 - The chemical sector showed strong performance on May 23, with the chemical ETF (159870.SZ) rising by 0.53% and the related index, the segmented chemical index (000813.CSI), increasing by 0.57% [1] - Key constituent stocks such as Wanhua Chemical, Yalake Co., and Guangwei Composites saw gains of 0.75%, 1.00%, and 1.62% respectively, indicating positive market sentiment [1] - The price of polyester FDY increased by 8.92% from the beginning of the month to 7424 yuan/ton, driven by rising raw material costs, which improved profit expectations for related companies [1] Group 2 - Securities research from Industrial Securities highlighted that the valuation of core chemical assets is currently at historically low levels, with significant safety margins [1] - For example, the historical PB percentiles for Wanhua Chemical and Huafeng Chemical are both below 1%, while Baofeng Energy and Hualu Hengsheng are below 20%, indicating strong investment value [1] - Huibo Intelligent Investment Research emphasized that AI technology is transforming R&D paradigms and production models in the chemical industry, with leading companies enhancing efficiency and reducing costs through technologies like intelligent coal blending systems [1]

Core Viewpoint - The AMAC Chemical Products Index experienced a decline of 1.58% on May 22, closing at 2513.22 points, with a trading volume of 59.798 billion yuan. Despite this, the index has shown an increase of 5.71% over the past month, 1.72% over the past three months, and 4.66% year-to-date [1]. Group 1: Index Performance - The AMAC Chemical Products Index has increased by 5.71% in the last month [1] - The index has risen by 1.72% over the past three months [1] - Year-to-date, the index has shown a growth of 4.66% [1] Group 2: Index Composition - The top ten holdings of the AMAC Chemical Products Index include Wanhua Chemical (6.37%), Salt Lake Industry (3.67%), and Baofeng Energy (2.17%) [1] - The index is composed of 43 industry classification indices, with 16 categories excluding manufacturing and 27 major categories within manufacturing [1] Group 3: Market Distribution - The Shenzhen Stock Exchange accounts for 52.29% of the index holdings, while the Shanghai Stock Exchange represents 47.71% [1] Group 4: Industry Breakdown - The AMAC Chemical Products Index is heavily weighted towards raw materials, which make up 84.55% of the holdings [2] - Major consumer goods account for 5.37%, while information technology comprises 4.43% [2] - Other sectors include industrial (3.95%), healthcare (0.74%), discretionary consumer (0.71%), energy (0.17%), and communication services (0.07%) [2]

Core Viewpoint - The fluorochemical industry in China has achieved significant growth, with the market size projected to increase from 58.85 billion yuan in 2022 to 91.58 billion yuan in 2024, indicating strong overall market demand and rising product value [1][7]. Group 1: Overview of Fluorinated New Materials - Fluorinated new materials are organic polymer compounds formed by replacing hydrogen atoms in the main or side chains with fluorine atoms, resulting in polymers with excellent properties such as high-temperature resistance, chemical corrosion resistance, and low flammability [2][4]. - These materials are increasingly important in various industries, including defense, aerospace, automotive, and electronics, due to their unique characteristics [2][4]. Group 2: Industry Chain of Fluorinated New Materials - The industry chain for fluorinated new materials includes raw materials like fluorite and sulfuric acid, with hydrogen fluoride as a basic product. These materials are crucial for high-end manufacturing, environmental protection, and new energy sectors [9]. - The rapid development of fluorinated new materials is driven by their applications in solar energy, lithium-ion batteries, and fuel cells, leading to an expanding market space and promising future prospects [9]. Group 3: Upstream Raw Materials - China is a major producer of fluorite, with an estimated production of 6.3 million tons in 2023, accounting for approximately 70% of global output. The consumption structure shows that fluorochemical applications dominate, representing over 50% of fluorite usage [11]. Group 4: Downstream Application Areas - In the lithium-ion battery sector, the total production is expected to reach 1170 GWh in 2024, with a year-on-year growth of 24%. Fluorinated materials like lithium hexafluorophosphate and PVDF are essential for battery components [15][17]. - The photovoltaic sector is also growing, with new installed capacity projected at 277.57 GW in 2024, making it the second-largest power source in China. Fluorinated materials such as PVDF and PVF are widely used in solar panel backings [22][24]. Group 5: Policy Support for Fluorinated New Materials - Various local governments in China are implementing policies to support the development of fluorinated new materials, aiming to enhance the overall self-sufficiency of chemical new materials and promote high-end applications [6][13]. Group 6: Future Trends - The fluorinated new materials market is expected to continue expanding due to ongoing developments in downstream applications and increased R&D efforts, leading to technological breakthroughs and broader product applications [30].