昊华化工科技集团股份有限公司 2025 年第三季度报告 证券代码：600378 证券简称：昊华科技 昊华化工科技集团股份有限公司 2025 年第三季度报告 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： 公司董事会及董事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假记载、误 导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人王军、主管会计工作负责人何捷及会计机构负责人（会计主管人员）杨涛保证季度报 告中财务信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 1 / 16 昊华化工科技集团股份有限公司 2025 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 单位：元 币种：人民币 | | | | | 本报告期 | | 年初至报 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 比上年同 | | 告期末比 | | | | 项目 | 本报告期 | 上年同期 | | 期 ...

昊华化工科技集团股份有限公司 第四条 公司开展的外汇衍生品交易以锁定成本、规避和防范汇率、利率风 险为目的，禁止任何风险投机行为。 第二章 外汇衍生品交易业务操作原则 第五条 公司不进行单纯以盈利为目的的远期外汇交易，所有交易行为均以 正常生产经营为基础，以具体经营业务为依托，以套期保值为手段，以规避和防 范汇率、利率风险为目的。远期外汇交易业务应遵循合法、审慎、安全、有效的 原则，控制投资风险。 外汇衍生品交易业务管理办法 （已经 2025 年 10 月 28 日第八届董事会第三十五次会议审议通过） 第一章 总则 第一条 为规范昊华化工科技集团股份有限公司（以下简称"公司"）及控股 子公司外汇衍生品交易业务，加强对外汇衍生品交易业务的管理，防范投资风险， 健全和完善公司外汇衍生品交易业务管理机制，确保公司资产安全，根据《中华 人民共和国公司法》《中华人民共和国证券法》《上市公司信息披露管理办法》 《上海证券交易所股票上市规则》《上海证券交易所上市公司自律监管指引第 1 号——规范运作》《上海证券交易所上市公司自律监管指引第 5 号——交易与关 联交易》等相关法律、法规及规范性文件和《昊华化工科技集团股份有限 ...

昊华化工科技集团股份有限公司 董事会授权管理办法 （2025 年 10 月修订） 第一章 总则 第一条 为规范昊华化工科技集团股份有限公司（简称"公司"）董事会 决策机制，规范董事会授权管理，科学配置决策权力，建立科学、高效的管理体 系，根据《中华人民共和国公司法》《中华人民共和国证券法》《上海证券交易所 股票上市规则》（以下简称"《上市规则》"）《昊华化工科技集团股份有限公司 章程》（以下简称"《公司章程》"）《昊华化工科技集团股份有限公司董事会议 事规则》等规定，结合公司实际，制定本办法。 第二条 本办法所称"授权"是指董事会在不违反法律法规强制性规定 的前提下，在一定条件和范围内，根据有关规定和公司经营决策的实际需要，将 其职权中的部分经营管理权限授予符合法律法规及《公司章程》规定的董事长、 总经理（以下简称"被授权人"）行使。 第三条 董事会对被授权人的授权应当遵循下列原则： （一）审慎授权原则。授权应当优先考虑风险防范目标的要求，从严控制， 确保授权合理、可控。 （二）依法合规原则。授权应当严格遵循法律法规的有关规定，并限定在《公 司章程》规定和股东会对董事会授权范围内，不得超越董事会职权范围。 （ ...

昊华科技公告，第三季度营收为45.41亿元，同比增长22.33%；净利润为5.87亿元，同比增长84.30%。 前三季度营收为123.01亿元，同比增长20.50%；净利润为12.32亿元，同比增长44.57%。 ...

Core Insights - The PVDF concept sector experienced a rise of 1.37%, ranking 7th among concept sectors, with 10 stocks increasing in value, notably Duofluoride reaching the daily limit, while Shenzhen New Star, Haohua Technology, and Huitian New Materials also saw significant gains of 4.22%, 3.84%, and 3.72% respectively [1][2] - The sector attracted a net inflow of 1.317 billion yuan, with 8 stocks receiving net inflows, and 5 stocks exceeding 10 million yuan in net inflow, led by Duofluoride with 1.133 billion yuan [2][3] - The net inflow ratios for leading stocks in the PVDF sector were 21.87% for Duofluoride, 11.85% for Dongyangguang, and 9.96% for Haohua Technology [3] Sector Performance - The PVDF concept sector's performance was highlighted by the significant daily increase, with Duofluoride leading the charge [1][2] - Other notable performers included Shenzhen New Star and Haohua Technology, contributing to the overall positive sentiment in the sector [1][2] - Conversely, stocks such as Shengjing Micro, Huayi Group, and Sanmei Co. faced declines, indicating mixed performance within the broader market context [1][2] Fund Flow Analysis - The main capital inflow into the PVDF sector was substantial, with a total of 1.317 billion yuan, indicating strong investor interest [2][3] - The leading stocks in terms of capital inflow were Duofluoride, Dongyangguang, and Haohua Technology, reflecting their attractiveness to investors [3] - The turnover rates for these stocks also varied, with Duofluoride showing a high turnover rate of 20.52%, suggesting active trading [3]

Core Insights - The PVDF concept sector experienced a rise of 1.37%, ranking 7th among concept sectors, with 10 stocks increasing in value, notably Duofluoride reaching the daily limit, and Shenzhen New Star, Haohua Technology, and Huitian New Materials showing significant gains of 4.22%, 3.84%, and 3.72% respectively [1][2] - The sector saw a net inflow of 1.317 billion yuan from main funds, with 8 stocks receiving net inflows, and 5 stocks exceeding 10 million yuan in net inflow, led by Duofluoride with 1.133 billion yuan [2][3] Sector Performance - The top-performing concept sectors included Cross-Strait with a rise of 4.29%, and Military Equipment Restructuring Concept with an increase of 3.22%, while sectors like Metal Lead and Gold Concept faced declines of 1.70% and 1.55% respectively [2] - The PVDF concept's net inflow ratio was led by Duofluoride at 21.87%, followed by Dongyangguang at 11.85%, and Haohua Technology at 9.96% [3] Stock Performance - Duofluoride had a daily increase of 10.01% with a turnover rate of 20.52% and a main fund inflow of 1.132 billion yuan [3] - Shenzhen New Star and Huitian New Materials also performed well with increases of 4.22% and 3.72% respectively, while stocks like Shengjing Micro and Huayi Group faced declines of 2.53% and 1.50% [4]

Market Overview - The chemical products sector increased by 0.02% compared to the previous trading day, with Pioneer New Materials leading the gains [1] - The Shanghai Composite Index closed at 3988.22, down 0.22%, while the Shenzhen Component Index closed at 13430.1, down 0.44% [1] Top Performers - Pioneer New Materials (300163) closed at 4.99, up 19.95% with a trading volume of 2.0563 million shares and a transaction value of 9.53 billion [1] - Financial Meeting (002407) closed at 23.95, up 10.01% with a trading volume of 2.2174 million shares and a transaction value of 51.80 billion [1] - Taihe Technology (300801) closed at 30.42, up 7.61% with a trading volume of 228.9 thousand shares and a transaction value of 6.63 billion [1] Underperformers - Zhengdan Co. (300641) closed at 20.36, down 8.08% with a trading volume of 265.6 thousand shares and a transaction value of 54.6 million [2] - Donglai Technology (688129) closed at 21.29, down 6.58% with a trading volume of 33.8 thousand shares and a transaction value of 72.80 million [2] - Yiyun Co. (603790) closed at 20.51, down 3.75% with a trading volume of 32.2 thousand shares and a transaction value of 66.93 million [2] Capital Flow - The chemical products sector saw a net inflow of 229 million from institutional investors, while retail investors contributed a net inflow of 294 million [2] - The sector experienced a net outflow of 523 million from speculative funds [2] Individual Stock Capital Flow - Financial Meeting (002407) had a net inflow of 94.7 million from institutional investors, while it saw a net outflow of 54.2 million from speculative funds and a net outflow of 40.5 million from retail investors [3] - Pioneer New Materials (300163) had a net inflow of 72.78 million from institutional investors, with net outflows of 20.87 million from speculative funds and 51.91 million from retail investors [3] - Taihe Technology (300801) had a net inflow of 52.93 million from institutional investors, with net outflows of 40.73 million from speculative funds and 12.20 million from retail investors [3]

（文章来源：每日经济新闻） 每经AI快讯，10月28日，氟化工指数盘中上涨1.98%，成分股中多氟多涨停，晶瑞电材上涨7.20%，深 圳新星上涨6.00%，永太科技上涨3.11%，昊华科技上涨2.81%。 ...

Investment Rating - The report assigns an investment rating of "Positive" for the refrigerant industry, indicating an expectation of better performance compared to the relevant market index over the next 12 months [9]. Core Insights - The Ministry of Ecology and Environment has issued a notification regarding the quota setting and distribution plan for ozone-depleting substances and hydrofluorocarbons (HFCs) for the year 2026, which includes significant reductions in production and usage quotas [2][6]. - The production quota for HCFCs in 2026 is set at 151,400 tons, representing an 8% decrease from 2025, with specific reductions for R22 and R141b quotas [12]. - The report highlights that the second-generation refrigerants will continue to be phased out, with a target of a 97.5% reduction by 2030 as per the Montreal Protocol, while the demand for R22 remains relatively inelastic due to its use in air conditioning maintenance [12]. - The third-generation refrigerants will see an increase in quota adjustments, allowing for a total increase of 11,000 tons for HFC-245fa and other specific refrigerants, with a notable change in the adjustment ratio from 10% to 30% [12]. - Current prices for third-generation refrigerants such as R32 and R134a are reported at 63,000 and 54,000 CNY per ton respectively, indicating a trend towards price increases due to their essential nature and the evolving business model in the industry [12]. Summary by Sections Quota Setting and Distribution - The 2026 quota plan includes a reduction of 71.5% and 76.1% for HCFCs production and usage respectively, with specific quotas for R22 and R141b [12]. - The report outlines the distribution of HFCs production quotas based on the needs arising from the phase-out of HCFCs, including specific increases for HFC-245fa and HFC-41 [12]. Market Dynamics - The report notes that the price of R22 has recently dropped to 16,000 CNY per ton due to weakened supply and demand, but is expected to rise as quotas are gradually reduced [12]. - The characteristics of the refrigerant industry are evolving, with third-generation refrigerants becoming more recognized as essential products, leading to a potential normalization of price increases [12]. Company Recommendations - The report expresses a positive outlook on companies such as Juhua Co., Dongyue Group, Sanmei Co., Haohua Technology, and Yonghe Co. due to their strong positions in the refrigerant market [12].

证券日报网讯 10月27日晚间，昊华科技（600378）发布公告称，公司于2025年10月25日召开职工代表 大会，经与会职工代表审议，同意选举王洋文先生为公司第八届董事会职工代表董事。 ...