一是第三代氟制冷剂自2024年实行生产配额制后，行业库存消化充分，下游需求旺盛，行业生态改善，产品 价格持续恢复性上涨，毛利大幅提升； 二是公司积极应对市场变化，加强管理、拓展市场、优化结构，实现了主要装置的稳定生产和产销量稳定； 三是公司对存在减值迹象的全资子公司衢州巨化锦纶有限责任公司的相关生产装置计提资产减值准备合计 32,088.96万元，并列入2025年度损益。 巨化股份于1月22日发布了2025年度业绩预增公告，预计2025年度实现归属于上市公司股东的净利润为35.4亿 元到39.4亿元，较上年同期的19.59亿元增加15.8亿元到19.8亿元，同比增长80%到101%。 扣除非经常性损益后，归属于上市公司股东的净利润预计为35.14亿元到39.14亿元，较上年同期的19.03亿元 增加16.11亿元到20.11亿元，同比增长85%到106%。 公司指出，本次业绩大幅增长主要归因于核心产品氟制冷剂价格持续恢复性上涨，以及主要产品产销量稳 定，带动主营业务毛利上升、利润增长。具体原因包括 ...

Core Viewpoint - The refrigerant prices are rising significantly in 2025, leading to a strong performance for the industry leader, Juhua Co., Ltd. (600160.SH), in the first three quarters, but a sharp decline is expected in Q4 2025 due to asset impairment and other factors [1] Group 1: Company Performance - Juhua Co., Ltd. expects a net profit attributable to shareholders of 3.92 billion to 6.92 billion yuan in Q4 2025, showing a significant decline compared to both year-on-year and quarter-on-quarter figures [1] - For the first three quarters of 2025, Juhua Co., Ltd. reported a net profit of 3.248 billion yuan, reflecting a year-on-year increase of 160.22% [1] - The expected Q4 net profit, if calculated at the upper limit of 6.92 billion yuan, represents a 2.67% decline year-on-year from 7.11 billion yuan in Q4 2024 and a 42.19% decline from 11.97 billion yuan in Q3 2025 [1] Group 2: Industry Comparison - Among comparable companies, a slight quarter-on-quarter decline in Q4 net profit is common, but year-on-year growth is still possible [2] - Sanmei Co., Ltd. (603379.SH) anticipates a Q4 net profit between 399 million and 559 million yuan, slightly lower than the previous quarter's 596 million yuan but significantly higher than 218 million yuan in Q4 2024 [2] - Yonghe Co., Ltd. (605020.SH) expects a Q4 net profit between 61 million and 161 million yuan, lower than 198 million yuan in Q3 2025 but potentially higher than 105 million yuan in Q4 2024 [2] Group 3: Profit Decline Reasons - Juhua Co., Ltd. did not provide specific reasons for the Q4 profit decline but mentioned conducting impairment tests on production facilities, resulting in an asset impairment provision of approximately 321 million yuan [2] - The company also indicated that the prices of its main products experienced slight declines entering Q4, which may have impacted profit performance [2]

Core Viewpoint - Several A-share companies have reported significant profit growth forecasts for 2025, indicating a positive trend in their respective industries and potential investment opportunities [4]. Group 1: Company Performance - Jin'an Guoji (002636) expects a net profit of 280 million to 360 million yuan for 2025, representing a year-on-year increase of 655.53% to 871.4%. The growth is attributed to improved market conditions for copper-clad laminates, increased sales volume, and optimized product structure [6]. - Limin Co., Ltd. (002734) forecasts a net profit of 465 million to 500 million yuan for 2025, with a year-on-year growth of 471.55% to 514.57%. The increase is driven by higher sales volume and prices of its main products, along with improved gross margins [7]. - Juhua Co., Ltd. (600160) anticipates a net profit of 3.54 billion to 3.94 billion yuan for 2025, reflecting an 80% to 101% increase. The growth is mainly due to the recovery in prices of fluorinated refrigerants and stable production and sales [10][11]. - Shanghai Yizhong (688091) projects a net profit of 60 million to 70 million yuan for 2025, with a year-on-year increase of 760.18% to 903.54%. The growth is linked to the inclusion of its core product in the national medical insurance directory, significantly boosting market access and patient numbers [12]. Group 2: Industry Insights - The copper-clad laminate industry is experiencing a recovery in high-end market demand, driven by the growth of emerging applications in the electronics sector and government initiatives to boost consumption [6]. - The global pesticide market is expected to grow and exceed 80 billion dollars by 2025, with stable demand for pesticides as a key input for agricultural production [9].

Core Viewpoint - Several companies are projected to experience significant growth in net profit for 2025, with increases ranging from over 16% to more than 1400% compared to the previous year [1] Group 1: Company Projections - Nanfang Precision is expected to see a net profit increase of 1130% to 1417% in 2025 [1] - Jin'an Guoji anticipates a net profit growth of 655.53% to 871.4% for 2025 [1] - Limin Co. forecasts a net profit rise of 471.55% to 514.57% in 2025 [1] - Hekang New Energy projects a net profit increase of 386% to 628% for 2025 [1] - Baiao Intelligent expects a net profit growth of 228.34% to 337.79% in 2025 [1] - Dajin Heavy Industry anticipates a net profit increase of 121.58% to 153.23% for 2025 [1] - Yinhui Technology projects a net profit rise of 114% to 133% in 2025 [1] - Demingli expects a net profit increase of 85% to 128% for 2025 [1] - Juhua Co. forecasts a net profit growth of 80% to 101% in 2025 [1] - Ganli Pharmaceutical anticipates a net profit increase of 78.96% to 95.23% for 2025 [1] - Tongfei Co. projects a net profit rise of 56.43% to 74.68% in 2025 [1] - Jiajia Yue expects a net profit increase of 50.06% to 72.79% for 2025 [1] - Tianfu Communication anticipates a net profit growth of 40% to 60% in 2025 [1] - Shunke Zhilian projects a net profit increase of 34.94% to 59.47% for 2025 [1] - Feilihua expects a net profit rise of 31.12% to 50.22% in 2025 [1] - Hailide anticipates a net profit increase of 21.78% to 31.53% for 2025 [1] - Ligao Food projects a net profit growth of 16.06% to 23.52% in 2025 [1]

Group 1: Company Performance Forecasts - Jin'an Guoji expects a net profit of 280 million to 360 million yuan for 2025, representing a year-on-year increase of 655.53% to 871.4% due to improved market conditions in the copper-clad laminate sector and increased sales volume and prices [3] - Limin Co. anticipates a net profit of 465 million to 500 million yuan for 2025, reflecting a year-on-year growth of 471.55% to 514.57%, driven by increased sales volume and prices, improved gross margins, and higher investment income from affiliated companies [4] - Juhua Co. forecasts a net profit of 3.54 billion to 3.94 billion yuan for 2025, with a year-on-year increase of 80% to 101%, attributed to rising prices of core products and stable production and sales volumes [6][7] - Shanghai Yizhong expects a net profit of 60 million to 70 million yuan for 2025, indicating a year-on-year growth of 760.18% to 903.54%, primarily due to the inclusion of its core product in the national medical insurance directory [8] Group 2: Industry Trends and Market Conditions - The copper-clad laminate industry is experiencing a recovery in high-end market demand, with increased investment in high-end markets and a slight rebound in prices, although competition remains fierce [3] - The global pesticide market is projected to grow and exceed 80 billion USD by 2025, driven by the need for agricultural productivity and Limin Co.'s strengthened position as a leading disinfectant manufacturer [6] - The third-generation fluorinated refrigerants are seeing price recovery and stable demand, contributing to Juhua Co.'s profit growth, while the industry is improving in terms of competition and market structure [7] - Shanghai Yizhong is focused on developing innovative anti-tumor drugs and has a comprehensive drug production system, with ongoing research into various therapeutic platforms [8]

巨化股份（600160）(600160.SH)发布2025年度业绩预增公告，预计2025年度归属于上市公司股东的净 利润为35.40亿元到39.40亿元，与上年同期相比增加15.80亿元到19.80亿元，同比增长80%到101%。扣 除非经常性损益事项后，预计2025年度归属于上市公司股东的净利润预计为35.14亿元到39.14亿元，与 上年同期相比增加16.11亿元到20.11亿元，同比增长85%到106%。 司本期业绩大幅增长的主要原因，是公司核心产品氟制冷剂价格持续恢复性上涨，以及公司主要产品产 销量稳定，导致主营业务毛利上升、利润增长。第三代氟制冷剂(HFCs)自2024年起实行生产配额制，经 过两年的运行，厂库和渠道库存消化较为充分，且下游需求旺盛，叠加行业生态、竞争秩序持续改善， HFCs作为功能性制剂、"刚需消费品"属性与全球"特许经营"商业模式的"基因"的逐步形成，产品价格持 续恢复性上涨，毛利大幅上升。 ...

巨化股份(600160.SH)发布2025年度业绩预增公告，预计2025年度归属于上市公司股东的净利润为35.40 亿元到39.40亿元，与上年同期相比增加15.80亿元到19.80亿元，同比增长80%到101%。扣除非经常性损 益事项后，预计2025年度归属于上市公司股东的净利润预计为35.14亿元到39.14亿元，与上年同期相比 增加16.11亿元到20.11亿元，同比增长85%到106%。 司本期业绩大幅增长的主要原因，是公司核心产品氟制冷剂价格持续恢复性上涨，以及公司主要产品产 销量稳定，导致主营业务毛利上升、利润增长。 第三代氟制冷剂(HFCs)自2024年起实行生产配额制， 经过两年的运行，厂库和渠道库存消化较为充分，且下游需求旺盛，叠加行业生态、竞争秩序持续改 善，HFCs作为功能性制剂、"刚需消费品"属性与全球"特许经营"商业模式的"基因"的逐步形成，产品价 格持续恢复性上涨，毛利大幅上升。 ...

本次权益分派股权登记日为：2026年1月28日，除权除息日为：2026年1月29日。 格隆汇1月21日丨巨化股份(600160.SH)公布2025年前三季度权益分派实施公告,本次利润分配以方案实施 前的公司总股本2,699,746,081股为基数，每股派发现金红利0.18元（含税），共计派发现金红利 485,954,294.58元。 ...

本次权益分派股权登记日为：2026年1月28日，除权除息日为：2026年1月29日。 格隆汇1月21日丨巨化股份(600160.SH)公布2025年前三季度权益分派实施公告,本次利润分配以方案实施 前的公司总股本2,699,746,081股为基数，每股派发现金红利0.18元（含税），共计派发现金红利 485,954,294.58元。 ...

每经AI快讯，巨化股份1月21日晚间发布公告称，公司九届二十三次董事会会议于2026年1月21日以通 讯方式召开。会议审议了《关于计提2025年固定资产减值准备的议案》等文件。 （记者 曾健辉） 每经头条（nbdtoutiao）——特朗普强要格陵兰岛，丹麦一养老基金率先清仓美债，美国资产全线下 跌！欧洲手握"金融核按钮"，双方会"鱼死网破"吗？专家解读→ ...