炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 责任编辑：小浪快报 9月18日，昊华科技收跌2.47%，收盘价为29.17元，发生1笔大宗交易，合计成交量13.6万股，成交金额 396.71万元。 第1笔成交价格为29.17元，成交13.60万股，成交金额396.71万元，溢价率为0.00%，买方营业部为平安 证券股份有限公司深圳金田路证券营业部，卖方营业部为中国国际金融股份有限公司北京建国门外大街 证券营业部。 进一步统计，近3个月内该股累计发生4笔大宗交易，合计成交金额为1408.77万元。该股近5个交易日累 计下跌4.67%，主力资金合计净流出5325.56万元。 ...

9月18日，昊华科技大宗交易成交13.6万股，成交额396.71万元，占当日总成交额的1.03%，成交价29.17 元，较市场收盘价29.17元持平。 | 交易日期 | 证券商标 | 证券代码 | 成交价(元) 成交金额(万元) 成交量(*) 买入营业部 | | | 卖出营业部 | 是否为专场 | | --- | --- | --- | --- | --- | --- | --- | --- | | 025-09-18 | 圆年材技 | 600378 | 29.17 396.71 | 13.6 | 平安证券股份有限 公司温圳金田路证 | 中国国际金融股份 有限公司北京建国 | en | | | | | | | 好营业部 | 门外大街证券营业 | | ...

Core Viewpoint - The stock of Haohua Technology has experienced fluctuations, with a recent decline of 2.01% and a total market capitalization of 37.81 billion yuan, reflecting mixed investor sentiment and trading activity [1]. Company Overview - Haohua Chemical Technology Group Co., Ltd. was established on August 5, 1999, and listed on January 11, 2001. The company provides comprehensive services in chemical engineering and petrochemical projects, including technology development, transfer, consulting, design, and contracting [2]. - The main business revenue composition includes high-end fluorine materials (54.39%), high-end manufacturing (20.31%), engineering technical services (12.71%), electronic chemicals (6.58%), and others [2]. - The company is classified under the basic chemical industry, specifically in fluorine chemicals, and is associated with various concept sectors such as China National Chemical Corporation and methanol concepts [2]. Financial Performance - For the first half of 2025, Haohua Technology reported a revenue of 7.76 billion yuan, representing a year-on-year growth of 124.33%. The net profit attributable to shareholders was 645 million yuan, with a year-on-year increase of 74.02% [2]. - The company has distributed a total of 2.15 billion yuan in dividends since its A-share listing, with 1.27 billion yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders increased by 14.29% to 18,600, with an average of 48,906 circulating shares per person, a decrease of 12.50% [2]. - Notable institutional holdings include Huaxia Military Industry Safety Mixed Fund, which increased its holdings by 10.79 million shares, and Dachen New Industry Mixed Fund, which reduced its holdings by 3.95 million shares [3].

昊华化工科技集团股份有限公司 2025 年第四次临时股东大会 会议资料 2025 年 9 月 26 日 | | | 昊华化工科技集团股份有限公司 2025 年第四次临时股东大会会议须知 为了维护全体股东的合法权益，确保股东大会的正常秩序和议事 效率，保证大会的顺利进行，昊华化工科技集团股份有限公司（以下 简称"公司"或"昊华科技"）根据相关法律法规、《昊华科技公司章程》 和《昊华科技股东大会议事规则》等规定，特制定本须知。 一、公司根据《昊华科技公司章程》和《昊华科技股东大会议事 规则》等相关规定，认真做好召开股东大会的各项工作。 二、股东大会设会务组，具体负责大会有关程序及服务等事宜。 三、股东大会期间，全体出席人员应维护股东的合法权益、确保 会议的正常秩序和议事效率，自觉履行法定义务。 四、出席会议的股东（或股东代理人），依法享有发言权、质询 权、表决权等权利，股东（或股东代理人）要求在股东大会现场会议 上发言，应在会议召开前向公司登记，由公司统一安排。股东（或股 东代理人）临时要求发言或就相关问题提出质询的，应当先向会议会 务组申请，经大会主持人许可后方可进行。 五、股东（或股东代理人）在会议上发言，应 ...

Core Viewpoint - The demand for AI data centers is increasing, driven by high heat dissipation and high energy consumption, leading to a growing need for liquid cooling solutions [2][3]. Group 1: AI Data Center Capacity and Growth - According to Semianalysis, the global AI computing center installed capacity is expected to reach 7 GW in 2024, with further growth anticipated by 2028 [1][2]. Group 2: Liquid Cooling Solutions - The two main types of liquid cooling solutions for data centers are cold plate cooling and immersion cooling [3][4]. - Cold plate cooling can be further divided into single-phase and phase-change types, with single-phase primarily using deionized water and phase-change using fluorinated fluids [3]. - Immersion cooling liquids are categorized into synthetic oils and fluorinated liquids, with synthetic oils including hydrocarbon and silicone oils, and fluorinated liquids being ideal due to their chemical stability and low dielectric constant [4]. Group 3: Recommended Companies - For cold plate cooling, recommended companies include Haohua Technology (600378.SH), Juhua Co., Ltd. (600160.SH), and Sanmei Co., Ltd. (603379.SH) [3]. - For synthetic oils, Satellite Chemical (002648.SZ) is highlighted, while for silicone oil, the recommended company is Huamao Technology (603181.SH) [4]. - For fluorinated liquids, recommended companies include Sinoma Science & Technology (300037.SZ), Juhua Co., Ltd., Hualu Group (600623.SH), and Yonghe Co., Ltd. (605020.SH) [4].

Investment Rating - The report maintains a "Positive" rating for the chemical industry [6][12]. Core Insights - The macroeconomic judgment indicates that non-OPEC countries are expected to lead an increase in oil production, with a significant overall supply growth anticipated. Global GDP growth is projected to remain at 2.8%, with stable oil demand, although the growth rate may slow due to tariff policies [6][7]. - The expectation of a Federal Reserve interest rate cut is likely to boost demand during the peak season of September and October. Additionally, the leakage incident of GFL R32 in India may enhance China's export opportunities [6][12]. - The report highlights the ongoing investigation into anti-dumping practices against imported semiconductor chips from the U.S., which may benefit domestic semiconductor materials [6][12]. Summary by Sections Macroeconomic Analysis - Oil supply is expected to increase significantly, driven by non-OPEC production, while demand remains stable despite potential slowdowns due to tariffs. Geopolitical factors, including U.S.-China tariff relief and the Russia-Ukraine situation, are influencing oil prices [6][7]. - Coal prices are anticipated to stabilize at a low level, and natural gas export facilities in the U.S. may accelerate, leading to lower import costs [6][7]. Chemical Sector Configuration - The report suggests a strategic focus on four areas: textile and apparel chain, agricultural chemicals, export chain, and sectors benefiting from "de-involution" policies. Specific companies are recommended for investment based on their market positions and growth potential [6][12]. Key Material Focus - Emphasis is placed on the importance of self-sufficiency in key materials, particularly in semiconductor and panel materials, with specific companies highlighted for their potential in these sectors [6][12]. Price Trends - Recent data indicates fluctuations in various chemical prices, with PTA prices down by 0.3% and MEG down by 2.0%. The report notes that the overall industrial product PPI has shown a year-on-year decline of 2.9% [12][13][16]. Company Valuations - A detailed valuation table is provided, showcasing various companies in the agricultural chemicals and chemical sectors, with ratings ranging from "Buy" to "Increase" based on their market performance and projected earnings [20].

Core Viewpoint - Haohua Technology achieved a net profit attributable to shareholders of 645 million yuan in the first half of 2025, representing a year-on-year growth of 20.85% [1] - The company successfully established a business model with growth certainty and cyclical resilience through diversified layout and vertical integration of the industrial chain [1] Financial Performance - In the second quarter of 2025, the net profit attributable to shareholders reached 460 million yuan, showing a year-on-year increase of 25.56% and a quarter-on-quarter increase of 148.88% [1] - The company experienced a net cash outflow of 160 million yuan from financing activities, primarily due to the repayment of project loans using raised funds during the reporting period [1] Strategic Development - The company has clarified its development path of "specializing in upstream, strengthening midstream, and focusing on downstream" to implement the high-end polyurethane industrial chain planning [1] - A three-tier advancement mechanism is in place to create new profit growth points [1] - The company's production capacity is gradually expanding, and new projects are being systematically industrialized [1] Investment Rating - The company is rated as a "Buy" based on its performance and strategic outlook [1]

Investment Rating - The report assigns a "Buy" rating for the company, marking it as the first recommendation [1][10]. Core Insights - The company achieved significant revenue growth, with total revenue of 7.76 billion yuan in the first half of 2025, representing a year-on-year increase of 19.45%. The net profit attributable to shareholders reached 645 million yuan, up 20.85% year-on-year. In Q2 2025 alone, revenue was 4.60 billion yuan, showing a 26.07% year-on-year increase and a 45.82% quarter-on-quarter increase [1][2]. Summary by Sections Performance Highlights - The fluorochemical sector drove performance, benefiting from high industry demand and production quotas, with revenue growth of 24.99% and gross profit growth of 40.73%. The gross margin improved by 2.22 percentage points [2]. - The electronic chemicals segment faced intense competition but still achieved over 17% growth in both revenue and gross profit through a volume-based pricing strategy [2]. - The carbon reduction and engineering services segment emerged as a new growth driver, with revenue soaring by 29.58%, primarily due to price increases in high-value catalysts [2]. Cost Management and Cash Flow - The company saw a decrease in expense ratios across sales, management, finance, and R&D, leading to an overall decline in expense ratios. Financial expenses dropped by 64.71% year-on-year to 12.71 million yuan due to reduced borrowing and increased interest from idle funds [3]. - Operating cash flow significantly increased, with net cash flow from operating activities reaching 260 million yuan, a year-on-year increase of 234.01% [8]. Technological Advancements - The company demonstrated strong capabilities in technology innovation and industrialization, achieving breakthroughs in electronic specialty gases, high-end materials, and low-carbon technologies. Products are entering high-end supply chains in aviation and electronics [9]. - Key projects, such as the 26,000-ton annual high-performance organic fluorine materials project, are being successfully launched, contributing to new profit growth points [9]. Profit Forecast - The company is expected to expand its capacity and see orderly industrialization of new projects, with projected net profits of 1.42 billion yuan, 1.78 billion yuan, and 2.25 billion yuan for 2025, 2026, and 2027 respectively. The current stock price corresponds to P/E ratios of 28.1, 22.4, and 17.7 for the respective years [10][12].

9月9日，昊华科技盘中上涨2.13%，截至09:37，报31.18元/股，成交5916.37万元，换手率0.18%，总市 值402.22亿元。 资金流向方面，主力资金净流出143.42万元，大单买入526.04万元，占比8.89%，卖出669.46万元，占比 11.32%。 昊华科技今年以来股价涨8.93%，近5个交易日涨4.95%，近20日涨11.88%，近60日涨28.98%。 资料显示，昊华化工科技集团股份有限公司位于北京市朝阳区小营路19号财富嘉园A座昊华大厦A座， 成立日期1999年8月5日，上市日期2001年1月11日，公司主营业务涉及基于自主开发技术,为化工工程、 石油化工工程等工程项目建设提供技术开发、技术转让、咨询、工程设计、工程总承包等全过程的综合 服务业务,以及为化工行业提供催化剂等产品的研发与生产销售业务;氟化工、聚氨酯功能材料、电子化 学品、特种涂料以及橡胶制品等精细化工业务。主营业务收入构成为：高端氟材料54.39%，高端制造 化20.31%，工程技术服务12.71%，电子化学品6.58%，其他(补充)3.12%，贸易及其他2.90%。 昊华科技所属申万行业为：基础化工-化学制品- ...

9月8日，昊华科技盘中上涨2.08%，截至10:53，报29.96元/股，成交1.67亿元，换手率0.53%，总市值 386.48亿元。 资金流向方面，主力资金净流入1493.69万元，特大单买入180.65万元，占比1.08%，卖出110.58万元， 占比0.66%；大单买入4784.21万元，占比28.59%，卖出3360.59万元，占比20.09%。 昊华科技所属申万行业为：基础化工-化学制品-氟化工。所属概念板块包括：中盘、养老金概念、节能 环保、融资融券、燃料电池等。 昊华科技今年以来股价涨4.67%，近5个交易日跌2.22%，近20日涨10.23%，近60日涨22.97%。 资料显示，昊华化工科技集团股份有限公司位于北京市朝阳区小营路19号财富嘉园A座昊华大厦A座， 成立日期1999年8月5日，上市日期2001年1月11日，公司主营业务涉及基于自主开发技术,为化工工程、 石油化工工程等工程项目建设提供技术开发、技术转让、咨询、工程设计、工程总承包等全过程的综合 服务业务,以及为化工行业提供催化剂等产品的研发与生产销售业务;氟化工、聚氨酯功能材料、电子化 学品、特种涂料以及橡胶制品等精细化工业务。主 ...