Core Viewpoint - Hongda Co., Ltd. (600331.SH) has announced a projected net loss for the fiscal year 2025, indicating a significant downturn compared to the previous year [1] Financial Performance - The company expects a net profit attributable to shareholders of the parent company to be between -70 million and -82 million yuan for 2025, marking a loss compared to the same period last year [1] - The projected net profit, excluding non-recurring gains and losses, is anticipated to be between -84 million and -96 million yuan [1]

Group 1 - The agricultural chemical sector increased by 1.05% on January 23, with Zhongqi Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 4136.16, up 0.33%, while the Shenzhen Component Index closed at 14439.66, up 0.79% [1] - Notable stock performances included Zhongqi Co., Ltd. with a closing price of 6.98, up 10.97%, and Zhongnong United with a closing price of 60.61, up 10.03% [1] Group 2 - The agricultural chemical sector experienced a net outflow of 258 million yuan from institutional investors, while retail investors saw a net inflow of 254 million yuan [2] - The top stocks by net inflow from retail investors included Chuanfa Longmang with a net inflow of 1.32 billion yuan and Chengxing Co., Ltd. with a net inflow of 8.44 million yuan [3] - The overall trading volume for the agricultural chemical sector was significant, with stocks like Chengxing Co., Ltd. and Dongfang Iron Tower recording high transaction amounts of 12.32 billion yuan and 11.16 billion yuan respectively [1][2]

格隆汇1月23日丨宏达股份(600331.SH)公布，经财务部门初步测算，预计2025年年度实现归属于母公司 所有者的净利润-7,000万元到-8,200万元，与上年同期(法定披露数据)相比，将出现亏损。预计2025年年 度实现归属于母公司所有者的扣除非经常性损益后的净利润-8,400万元到-9,600万元。 ...

Financial Performance - The company expects a net profit attributable to shareholders of the parent company for 2025 to be between -70 million and -82 million yuan, indicating a loss compared to the previous year [3]. - The projected net profit after deducting non-recurring gains and losses is expected to be between -84 million and -96 million yuan for 2025 [4]. - In the previous year, the total profit was 36.48 million yuan, with a net profit attributable to shareholders of 36.11 million yuan [6]. Market Conditions - The average selling price of synthetic ammonia for the company's subsidiary decreased by 298.27 yuan/ton, a decline of 12.22% compared to the previous year [9]. - The price of 0 zinc ingots dropped from 25,800 yuan/ton at the beginning of the year to a low of 21,950 yuan/ton in June, impacting profitability due to high production costs [8]. - The company faced significant losses in its natural gas chemical business due to increased competition and declining prices [9]. - The phosphate chemical business experienced a decline in profits due to low agricultural product prices and extreme weather affecting sales [9]. Strategic Initiatives - The company plans to enhance cost control and optimize production organization to cope with the challenging market environment [9]. - The company will continue to promote equipment updates and technological upgrades to improve production efficiency and risk resistance [9]. Financial Reporting - The financial data provided is preliminary and subject to change upon the release of the audited annual report [10].

每经AI快讯，1月23日，宏达股份（600331）(600331.SH)公告称，预计2025年归属于上市公司股东的净 利润为-7000万元到-8200万元，与上年同期相比将出现亏损。业绩变动原因：锌冶炼受价格下跌、成本 上升影响大幅亏损；天然气化工因合成氨价格下滑导致亏损；磷化工受农产品价格低迷、原料涨价等影 响利润下滑。 ...

Core Viewpoint - The company, Hongda Co., is expected to report a significant net loss for the year 2025, with projected losses ranging from 70 million to 82 million yuan, primarily due to challenges in its zinc smelting, natural gas chemical, and phosphate chemical segments [1]. Group 1: Zinc Smelting - The zinc smelting segment is facing pressure from increased domestic zinc production capacity and weakened downstream demand, leading to a decline in zinc product prices. The price of 0 zinc ingots dropped from 25,800 yuan per ton at the beginning of the year to a low of 21,950 yuan per ton in June [1]. - The company is experiencing a cost disadvantage as the production costs of products made from early-year inventory remain high, resulting in a situation where sales prices are lower than production costs [1]. - Despite rising prices for by-products like silver and copper, the significant increase in raw material costs continues to challenge the profitability of the zinc smelting business, leading to expected losses for the year [1]. Group 2: Natural Gas Chemicals - In the natural gas chemical sector, the company is facing increased competition due to a decline in coal prices, which has lowered production costs for ammonia producers, resulting in a rise in ammonia supply and a continuous drop in prices [1]. - The average selling price of ammonia from the company's subsidiary, Sichuan Mianzhu Chuanrun Chemical Co., decreased by 298.27 yuan per ton, representing a decline of 12.22% compared to the previous year [1]. - This competitive environment has led to significant losses in the company's natural gas chemical business for 2025 [1]. Group 3: Phosphate Chemicals - The phosphate chemical segment is impacted by low agricultural product prices and extreme weather conditions in key sales regions, leading to a cautious attitude among end-users and a decline in both sales volume and prices of compound fertilizers [1]. - The prices of key raw materials such as urea and potassium fertilizer have surged, resulting in increased production costs and a decrease in gross margins [1]. - Although the sales volume and prices of phosphate products saw a slight increase compared to the previous year, the tight supply of sulfur in the market has led to a significant price increase of 1,096 yuan per ton, or 103%, further raising production costs and reducing profitability in this segment [1].

Group 1 - The chemical sector continues to rise, with the Chemical ETF (516020) showing a 0.31% increase as of January 23 [1] - Key stocks in the sector include Dongfang Shenghong, Weixing Chemical, and Hongda Co., which have all seen gains exceeding 4% [1] - The Chemical ETF has attracted significant investment, with a net subscription amount close to 1.2 billion yuan over the last five trading days [2] Group 2 - Recent petrochemical projects have been included in the key engineering project list for 2026, providing strong support for the industry [3] - The National Development and Reform Commission has allocated special bonds to support energy-saving and environmental protection initiatives [3] - The chemical industry is entering a strategic window, with high-cost overseas marginal capacity exiting and a restructuring of the global chemical order [3] Group 3 - Analysts are optimistic about the chemical sector's recovery, driven by changes in corporate strategies and market dynamics [3] - Key areas of focus for investment include MDI, petrochemicals, phosphate chemicals, PVC, and polyester bottle chips [3] - The Chemical ETF (516020) is recommended as an efficient way to gain exposure to the sector, tracking the CSI sub-industry index [3]

Core Viewpoint - Hongda Co., Ltd. has shown a significant increase in stock price and trading activity, indicating positive market sentiment despite recent financial challenges [1][2]. Group 1: Stock Performance - As of January 22, Hongda's stock price increased by 2.06%, reaching 13.84 CNY per share, with a trading volume of 6.02 billion CNY and a turnover rate of 2.18%, resulting in a total market capitalization of 365.60 billion CNY [1]. - Year-to-date, Hongda's stock price has risen by 8.21%, with a 0.51% increase over the last five trading days, a 9.93% increase over the last 20 days, and a 32.57% increase over the last 60 days [2]. Group 2: Financial Performance - For the period from January to September 2025, Hongda achieved a revenue of 28.22 billion CNY, reflecting a year-on-year growth of 16.63%. However, the net profit attributable to shareholders was -4669.64 million CNY, a decrease of 319.29% compared to the previous year [2]. - The company has distributed a total of 10.00 billion CNY in dividends since its A-share listing, but there have been no dividends paid in the last three years [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Hongda increased to 61,000, up by 4.61% from the previous period, with an average of 33,289 circulating shares per shareholder, a decrease of 4.40% [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 27.29 million shares, an increase of 4.07 million shares from the previous period, while Penghua Zhongzheng Sub-industry Theme ETF has entered as a new shareholder with 23.82 million shares [3].

Group 1 - The trust concept sector declined by 1.09%, ranking among the top declines in concept sectors, with companies like Huaguang Huaneng, Delong Huineng, and Maoye Commercial experiencing significant drops [1][2] - Among the trust concept stocks, three companies saw price increases, with Hongda Co., New Huangpu, and Jianyuan Trust rising by 1.80%, 1.10%, and 0.34% respectively [1][2] - The trust concept sector experienced a net outflow of 381 million yuan, with 17 stocks facing net outflows, and six stocks seeing outflows exceeding 30 million yuan [2][3] Group 2 - The top net outflow stock was Zhongyou Capital, with a net outflow of 105 million yuan, followed by Guowang Yingda and Huaguang Huaneng with net outflows of 89.28 million yuan and 68.60 million yuan respectively [2][3] - The leading stocks for net inflow in the trust concept sector included Hongda Co., Guotou Investment, and Zhejiang Dongfang, with net inflows of 45.47 million yuan, 18.86 million yuan, and 13.57 million yuan respectively [2][3] - The trading volume for Zhongyou Capital was 0.60%, while Guowang Yingda had a trading volume of 1.29%, indicating varying levels of investor activity within the sector [3]

Group 1 - The chemical sector is experiencing a strong upward trend, with the chemical ETF (516020) showing a 1.15% increase, indicating a potential for a three-day winning streak [1] - Key stocks in the sector include Zhejiang Longsheng, which surged over 9%, and Sankeshu, which rose over 6%, among others [1] - The basic chemical sector has seen significant inflows, with over 11.3 billion yuan in net inflows on a single day, ranking fourth among 30 major sectors [1][2] Group 2 - Dongfang Securities expresses optimism about the chemical industry, highlighting a collective shift in corporate strategies that may lead to improved market conditions [3] - The report identifies five key areas for investment: MDI, petrochemicals, phosphate chemicals, PVC, and polyester bottle flakes [3] - The chemical ETF (516020) is recommended for investors looking to capitalize on the sector's rebound, as it tracks a specialized index covering major themes in the chemical industry [3]