另外，中盐化工拟实施中盐吉兰泰氯碱化工（600618）有限公司(简称"氯碱公司")年产6万吨特种树脂 技术升级改造项目，该项目总投资4.93亿元，项目建设周期2年，拟于2027年整体完工投用。氯碱公司 系中盐化工控股子公司。 人民财讯8月14日电，中盐化工（600328）8月14日晚间公告，拟实施中盐(内蒙古)碱业有限公司(简 称"中盐碱业")年产500万吨天然碱矿溶采试验项目，项目总概算投资额3.6亿元，项目计划2025年8月启 动，2026年2月底完成溶采试验数据报告，总工期7个月。据悉，中盐碱业减资已完成决策及监管流程， 目前正在办理工商变更，届时，中盐碱业将成为公司全资子公司。 ...

为了加快天然碱资源开发项目实施，经科学论证，公司拟实施中盐碱业年产500万吨天然碱矿溶采试验 项目，旨在通过系统的试验研究，全面掌握该矿区天然碱矿的开采特性，为后续天然碱工业化规模开发 奠定的技术基础，项目总概算投资金额为3.6亿元。 格隆汇8月14日丨中盐化工（维权）(600328.SH)公布，公司为了提升公司纯碱产业核心竞争力，积极布 局天然碱产业，2025年3月参与投资设立中盐碱业，并以中盐碱业为主体开展内蒙古自治区通辽市奈曼 旗大沁他拉地区天然碱资源的获取和开发工作。2025年6月16日通过网上竞拍，竞得该天然碱采矿权， 2025年7月9日签订天然碱采矿权出让合同，正式获得该采矿权。2025年8月8日，公司重大资产重组事项 通过了股东会审议，中盐碱业减资已完成决策及监管流程，目前正在办理工商变更，届时，中盐碱业将 成为公司全资子公司。 ...

Core Viewpoint - Zhongyan Chemical (600328.SH) announced the expansion of its chlor-alkali subsidiary's production capacity for micro-suspension resin, aiming to enhance market competitiveness and optimize its product structure [1] Production Capacity - The chlor-alkali subsidiary currently has a production capacity of 220,000 tons per year for micro-suspension resin, consisting of a 90,000 tons/year facility at the polymer materials plant and a 130,000 tons/year facility at Anhui Tianchen [1] - A new 30,000 tons/year micro-suspension resin facility is under construction, expected to be completed and operational by December 2025, which will increase the total production capacity to 250,000 tons [1] Investment Plans - To further optimize its industrial structure, the company plans to invest in a technical upgrade project for special resin production, with an annual output of 60,000 tons [1] - The total investment for the special resin upgrade project is estimated at 493 million yuan [1]

Group 1 - The company, Zhongyan Chemical, announced an investment of 493.38 million yuan to upgrade its special resin production technology at Zhongyan Jilan Tai Chlor-Alkali Chemical Co., Ltd. [1] - The project aims to achieve an annual production capacity of 60,000 tons of special resin and is expected to be completed by 2027 [1] - The implementation of this project will enhance the company's market competitiveness and improve the profitability of its chlor-alkali business [1]

中盐化工公告，公司计划投资3.6亿元建设中盐（内蒙古）碱业有限公司年产500万吨天然碱矿溶采试验 项目。项目总工期为7个月，旨在通过系统的试验研究，全面掌握该矿区天然碱矿的开采特性，为后续 天然碱工业化规模开发奠定技术基础。项目投资不构成关联交易和重大资产重组事项。 ...

开源证券主要观点如下： 城市更新加快、国家补贴刺激装修需求，或支撑浮法玻璃需求 二手房装修需求有望持续增长，浮法玻璃需求不必悲观。2000年以来，中国房地产步入迅速发展时代。 2021年，国内房屋竣工面积为10.14亿平方米，较2001年增长271.43%，复合增长率为6.78%;商品房销售 面积为17.94平方米，较2001年增长763.52%，复合增长率为11.38%。以门窗使用寿命20年计算，如果以 2000年为中国地产周期的元年，那2020年开始存量二手房将逐步进入重新装修或者门窗更换的高峰期。 随着2005年以后的房屋逐渐达到20年房龄，装修需求有望逐渐迎来增长。当前商品房、办公楼的窗墙比 逐渐提高，持续拉动大面积的玻璃需求增加。且随着商品房进入"改善"时代，未来新楼盘的窗墙比或进 一步提高，玻璃使用量或较传统楼盘增长。综上，该行认为未来建筑玻璃需求仍有望维持在较高水平， 对浮法玻璃需求不必过于悲观。 智通财经APP获悉，开源证券发布研报称，未来建筑玻璃需求仍有望维持在较高水平，对浮法玻璃需求 不必过于悲观。光伏玻璃方面，未来随着其持续亏损，其产能增长或放缓，纯碱需求增长或将大幅放 缓。展望未来，预 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The demand for float glass is expected to remain high due to accelerated urban renewal and national subsidies stimulating renovation needs, despite fluctuations in real estate construction [5][14] - The photovoltaic glass sector is facing significant supply-demand imbalances, with rapid capacity expansion leading to price declines and potential production line adjustments to mitigate losses [6][21] - The soda ash industry is under pressure from new capacity additions, with low-cost natural soda ash processes likely to emerge as dominant in the future [7][28][50] Summary by Sections 1. Glass Capacity and Soda Ash Demand - Urban renewal and renovation needs are projected to sustain float glass demand, with a significant increase in housing renovation expected as older properties reach their lifespan [5][14] - The apparent consumption of flat glass is expected to grow by 3.80% in 2024, despite a decline in real estate construction area [14][19] - The soda ash apparent consumption is projected to reach 35.23 million tons in 2024, a year-on-year increase of 13.49% [27] 2. Photovoltaic Glass Sector - Photovoltaic glass capacity has surged from 11.73 million tons in 2020 to 44.77 million tons in 2024, marking a 281.64% increase [21] - The price of photovoltaic glass has decreased from a peak of 26.5 yuan per square meter to 18.5 yuan per square meter due to oversupply and inventory pressures [21][24] - The profitability of photovoltaic glass companies is declining, leading to potential production line adjustments to reduce losses [6][21] 3. Soda Ash Industry Dynamics - The soda ash industry is facing significant new capacity pressures, with multiple projects expected to come online, including 2.8 million tons from Boyuan Chemical and 5 million tons from Zhongyan Chemical [7][28][46] - The cost of production for different soda ash processes as of August 1, 2025, is 1,246 yuan/ton for the ammonia-soda process, 1,395 yuan/ton for the solvay process, and 679 yuan/ton for the natural soda process, indicating that only the natural soda process remains profitable [28][46] - The natural soda process is expected to dominate the global soda ash market due to its cost advantages and the U.S. holding 99% of the world's natural soda resources [47][50]

Core Insights - Glass microspheres exhibit significant competitive advantages in material applications compared to traditional materials, with widespread use in plastics, coatings, oil extraction, and aerospace [1][11] - The market demand for glass microspheres is continuously growing, driven by the transformation of traditional industries and the rapid development of emerging industries [1][11] Industry Overview - Glass microspheres are a new type of material developed from borosilicate raw materials, with a particle size of 10-250 microns and a wall thickness of 1-2 microns, offering lightweight, low thermal conductivity, high strength, and good chemical stability [2][10] - The market size of China's glass microsphere industry is projected to grow from 1.432 billion yuan in 2015 to 2.767 billion yuan in 2024, with a compound annual growth rate (CAGR) of 7.59% [1][11] - The hollow glass microsphere segment is expected to grow from 716 million yuan in 2015 to 1.522 billion yuan in 2024, with a CAGR of 8.74% [1][11] Industry Chain - The upstream of the glass microsphere industry includes raw materials such as quartz sand, limestone, feldspar, and soda ash, which are crucial for the supply and quality of glass microsphere production [3][6] - The midstream involves the manufacturing of glass microspheres, while the downstream applications include reflective materials, coatings, ceramics, rubber, plastics, filtration materials, oil extraction, and aerospace [3] Production and Demand - China's glass microsphere production is expected to increase from 85,200 tons in 2015 to 170,300 tons in 2024, with a CAGR of 8% [10] - The demand for glass microspheres is projected to rise from 101,600 tons in 2015 to 201,700 tons in 2024, with a CAGR of 7.92% [10] - Hollow glass microspheres are gaining traction, with production expected to grow from 21,300 tons in 2015 to 51,100 tons in 2024, and demand from 25,400 tons to 60,500 tons during the same period [10] Market Trends - The glass microsphere industry is gradually moving towards high-end applications, focusing on high refractive index, high wear resistance, and high purity to meet the needs of aerospace, precision optics, and 5G communications [23] - The industry is expected to diversify its applications into emerging markets such as renewable energy, biomedicine, and electronic packaging, while also developing functional microspheres [24] - Environmental sustainability is becoming a key focus, with efforts to optimize production processes, reduce energy consumption, and explore recycling technologies [25] Key Players - Major players in the global glass microsphere industry are concentrated in developed countries, with significant contributions from companies like 3M, Swarco, and Potters Industries [14] - In China, notable companies include China Steel Group, Wanda Glass Microspheres, and Langsheng Kaibo, which are rapidly expanding their production capabilities [14][17]

Group 1 - The core point of the news is that Zhongyan Chemical (600328) will have 920,600 restricted shares released on August 11, accounting for 0.06% of the total share capital, following a total of 5,548,500 shares released in the past year, which is 0.38% of the total share capital [1] - After this release, the company will have no restricted shares remaining [1] Group 2 - Zhongyan Chemical's financial data for the first half of 2025 shows a main revenue of 5.998 billion yuan, a year-on-year decrease of 5.76%, and a net profit attributable to shareholders of 52.7155 million yuan, down 88.04% year-on-year [3] - The second quarter of 2025 reported a single-quarter main revenue of 3.229 billion yuan, a year-on-year decrease of 12.34%, with a net profit attributable to shareholders of 35.4405 million yuan, down 90.57% year-on-year [3] - The company has a debt ratio of 35.23%, investment income of 2.8426 million yuan, financial expenses of 23.5623 million yuan, and a gross profit margin of 10.9% [3] - Zhongyan Chemical primarily engages in the production of basic chemical products such as soda ash, caustic soda, PVC, and resin, as well as fine chemical products like sodium metal and sodium chlorate, and building materials like cement [3]

| 股票简称 | 股票代码 | 限售股类型 | 解禁股数 | | --- | --- | --- | --- | | 中盐化工 | 600328 | 股权激励限售流通 | 96.08万 | | 北矿科技 | 600980 | 增发A股原股东配售上市 | 1211.76万 | | 福莱特 | 601865 | 股权激励限售流通 | 92万 | | 王子新材 | 002735 | 股权激励限售流通 | 408.24万 | | 三元生物 | 301206 | 延长限售锁定期流通 | 9294.6万 | | 维海德 | 301318 | 发行前股份限售流通 | 1350万 | | 满坤科技 | 301132 | 发行前股份限售流通 | 1亿 | | 亚信安全 | 688225 | | 1.91亿 | | 德科立 | 688205 | | 4419.84万 | | 碧兴物联 | 688671 | | 98.15万 | 智通财经APP获悉，8月11日共有10家上市公司的限售股解禁，解禁总市值约103.33亿元。 今日具体限售解禁股情况如下： ...