Core Viewpoint - On September 3, securities firms issued "buy" ratings for nearly 150 A-share listed companies, focusing on industries such as liquor, home appliances, chemical raw materials, food and beverage, coal, and education [1] Group 1: Top Recommended Stocks - Wuliangye (000858) received 14 research reports from various securities firms, making it the most recommended stock on September 3, with a report highlighting stable revenue growth and a dual-channel strategy [2][3] - Midea Group (000333) was the second most recommended stock, with 12 reports emphasizing strong performance and ongoing innovation, projecting EPS of 6.09, 6.86, and 7.73 for 2025-2027 [2][3] - Hualu Hengsheng (600426) ranked third with 9 reports, noting significant improvement in Q2 performance and the gradual rollout of new projects [2][4] Group 2: Industry Insights - The liquor industry, represented by Wuliangye, is seeing a recovery in channel confidence and a commitment to maintaining pricing strategies, which is expected to enhance brand value [3] - The home appliance sector, led by Midea Group, is characterized by strong growth resilience and low valuation, making it an attractive investment opportunity [3] - The food and beverage industry, including companies like Jinzai Food and Anjuke Food, is also under the spotlight, with expectations for demand recovery and profitability improvements [4]

Summary of Key Points from the Conference Call Industry Overview - **Industry**: Oil, Gas, and Chemicals - **Key Trends**: - OPEC+ is expected to fully unwind production cuts, leading to increased oil supply surplus expectations. - Brent crude oil prices fell by 3% month-over-month (MoM) to US$67.3 per barrel in August, indicating weaker prices as peak demand season ends. [2][28] - The International Energy Agency (IEA) projects a surplus of 1.8 million barrels per day (Mb/d) in 2025, increasing to 3.0 Mb/d in 2026. The Energy Information Administration (EIA) forecasts around 1.5 Mb/d for both years. [2][28] Chemical Sector Insights - **Price Movements**: - TDI (Toluene Diisocyanate) average selling price (ASP) increased by 13% MoM, but showed a downward trend due to soft demand and higher supply. [3] - mMDI (Modified MDI) ASP rose by 7% MoM, supported by maintenance periods for some plants. [3] - Refrigerant R32 ASP also increased by 7% MoM, driven by strong producer bargaining power. [3] - **Demand Dynamics**: - Price increases were noted among TiO2 producers and polyester filament businesses, indicating potential for further price hikes in the near term. [4] - Products with tight supply include acetic acid, hydrogen peroxide, refrigerants, and others, suggesting potential price support. [4] Stock Recommendations - **Preferred Sectors**: - Chemical subsectors are favored as beneficiaries of 'anti-involution', particularly: - Fertilizers (Hualu) - Refining/Olefins (Hengli, Baofeng, Satellite) - Products with price hike potential (Wanhua for pMDI, Tongkun for polyester filament, Fufeng/Meihua for MSG, and refrigerants). [5] Risk Factors - **Oil & Gas Sector Risks**: - Fluctuations in crude oil prices and disappointing productivity enhancements could impact the sector. [28] - **Chemical Sector Risks**: - Price volatility due to international oil price changes and macroeconomic uncertainties could affect demand. [29] - **New Materials Sector Risks**: - Technological changes and reliance on policy support pose risks to revenue growth and stability. [30] Price Trends and Spreads - **Chemical Product Prices**: - Significant price changes were observed in various chemical products, with some experiencing declines of over 30% year-over-year (YoY). [27] - For example, butyl acrylate saw a 20.9% decrease MoM, while methanol-coal prices increased by 63.5% YoY. [27] Conclusion - The oil and chemical sectors are facing a complex landscape characterized by supply surpluses, price volatility, and shifting demand dynamics. Investors are advised to monitor these trends closely for potential investment opportunities and risks.

Market Overview - The agricultural chemical sector experienced a decline of 2.2% on September 2, with Sierte leading the drop [1] - The Shanghai Composite Index closed at 3858.13, down 0.45%, while the Shenzhen Component Index closed at 12553.84, down 2.14% [1] Stock Performance - Notable gainers in the agricultural chemical sector included: - Yingtai Biological: Closed at 4.62, up 3.59% with a trading volume of 411,100 shares and a turnover of 188 million [1] - New Agricultural Shares: Closed at 19.88, up 3.11% with a trading volume of 111,800 shares and a turnover of 225 million [1] - Taihe Shares: Closed at 32.07, up 2.66% with a trading volume of 98,100 shares and a turnover of 313 million [1] - Major decliners included: - Sierte: Closed at 5.03, down 7.71% with a trading volume of 714,700 shares and a turnover of 361 million [2] - Xin'an Shares: Closed at 10.71, down 5.56% with a trading volume of 636,200 shares and a turnover of 689 million [2] - Lianhua Technology: Closed at 11.33, down 5.19% with a trading volume of 858,800 shares and a turnover of 989 million [2] Capital Flow - The agricultural chemical sector saw a net outflow of 973 million from institutional investors, while retail investors contributed a net inflow of 728 million [2][3] - Key stocks with significant capital flow included: - Xin'an Shares: Institutional net inflow of 31.48 million, retail net outflow of 37.07 million [3] - New Agricultural Shares: Institutional net inflow of 29.05 million, retail net outflow of 19.80 million [3] - Hong Sifang: Institutional net inflow of 24.48 million, retail net outflow of 29.65 million [3]

Group 1 - The core viewpoint of the article highlights the investment behavior of the social security fund, which has invested in 577 stocks by the end of Q2, with 66 stocks held for over 20 consecutive quarters [1] - The longest-held stock by the social security fund is China Overseas Land & Investment, held for 57 quarters since Q2 2011, with a holding of 42.98 million shares, accounting for 0.62% of the circulating shares [1][3] - The top three stocks by the number of shares held by the social security fund at the end of Q2 are Changshu Bank, China State Construction, and Sany Heavy Industry, with holdings of 278 million shares, 205 million shares, and 171 million shares respectively [1][2] Group 2 - Among the 66 continuously held stocks, 15 saw an increase in holdings by the social security fund in Q2, with significant increases for Three Squirrels, Hongfa Technology, and Sheneng Co., with increases of 283.29%, 76.77%, and 44.59% respectively [2] - In contrast, 30 stocks were reduced, with the largest decreases in holdings for Yanjinpuzi, Aide Biology, and Zhongqi Co., with reductions of 53.00%, 52.54%, and 50.14% respectively [2] - The sectors with the most stocks held by the social security fund include basic chemicals, pharmaceuticals, and machinery, with 8, 6, and 5 stocks respectively [2] Group 3 - Of the 66 stocks continuously held, 40 reported year-on-year profit growth in the first half of the year, with the highest growth rates seen in Xiantan Co., Zhongsheng Pharmaceutical, and Lutai A, with profit increases of 344.55%, 114.96%, and 112.44% respectively [3] - Conversely, 25 stocks experienced a decline in net profit, with the largest declines reported by Jianlang Hardware, Zhongqi Co., and China Overseas Land & Investment, with decreases of 722.32%, 240.99%, and 171.52% respectively [3] - The sustainability of performance is indicated by 13 stocks that have shown year-on-year profit growth in the first half over the past three years, including Jieput, Sany Heavy Industry, and Zhengtai Electric [3]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600426 证券简称：华鲁恒升 编号：临2025-051 山东华鲁恒升化工股份有限公司 关于停车检修生产装置复产的公告 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个别及连带责任。 山东华鲁恒升化工股份有限公司（以下简称 "公司"）于 2025年7月31日披露了《关于部分生产装置停车 检修的公告》 (临2025-040号)，根据年度计划，公司于2025年8月2日开始对部分生产装置进行停车检 修。 至2025年8月31日，公司检修工作已经完成，恢复正常生产。 特此公告。 山东华鲁恒升化工股份有限公司董事会 2025年9月2日 证券代码：600426 证券简称：华鲁恒升 公告编号：临2025-050 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第7号一一回购股份》等相关 规定，在回购股份期间，公司应当在每个月的前3个交易日内披露截至上月末的回购进展情况。现将公 司回购股份进展情况公告如下： 山东华鲁恒升化工股份有限公司 关于股份回购进展公告 本公司董事会及全 ...

山东华鲁恒升化工股份有限公司（以下简称 "公司"）于 2025 年 7 月 31 日披露了《关于部分生产装置停车检修的公告》 (临 2025- 进行停车检修。 证券代码：600426 证券简称：华鲁恒升 编号：临 2025-051 至 2025 年 8 月 31 日，公司检修工作已经完成，恢复正常生产。 特此公告。 山东华鲁恒升化工股份有限公司董事会 山东华鲁恒升化工股份有限公司 关于停车检修生产装置复产的公告 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个别及连带责任。 ...

（文章来源：证券日报） 证券日报网讯 9月1日晚间，华鲁恒升发布公告称，自2025年4月30日至2025年8月31日，公司通过集中 竞价交易方式累计回购股份433.40万股，占公司总股本的0.20%。 ...

Group 1 - Weisheng Information won four projects in August with a total amount of 85.5377 million yuan, accounting for 3.12% of the company's total revenue for 2024 [1] - Longqi Technology's shareholder plans to reduce its stake by up to 4.09%, equating to a maximum of 19.1916 million shares [1] - Guojin Modern's subsidiary received a drug registration certificate for injectable Nicardipine, used for treating unstable angina [3][4] Group 2 - SAIC Motor reported a total vehicle sales of 363,400 units in August, a year-on-year increase of 41.04%, with new energy vehicle sales reaching 129,800 units, up 49.89% [5] - Kuka Home plans to invest 1.124 billion yuan to build a self-owned base in Indonesia, aiming to enhance its international strategy [6] - Samsung Medical's subsidiary signed a contract for an intelligent meter project in Egypt worth 58.8 million USD, approximately 419 million yuan [8] Group 3 - North Vehicle Blue Valley's subsidiary reported a total production of 10,587 units in August, a year-on-year decrease of 15.13%, while sales increased by 3.47% [12] - Xianghe Industrial signed contracts worth 400 million yuan for railway fastener system components [13] - Hengrui Medicine's HRS9531 injection has received acceptance for its marketing authorization application [14] Group 4 - Hualu Hengsheng resumed normal production after completing maintenance on production facilities [16] - Shanghai Pharmaceuticals' hydrochloride verapamil injection passed the consistency evaluation for generic drugs [18] - Shanghai Construction received approval for debt financing tools with a registration period of two years [20] Group 5 - Kangli Elevator terminated the sale of its wholly-owned subsidiary due to the buyer's failure to obtain necessary approvals [21] - Times Wan Heng appointed Li Zhizhong as the new deputy general manager [22] - Hanma Technology reported a total truck sales of 1,051 units in August, a year-on-year increase of 58.05% [24] Group 6 - Wenzhou Hongfeng's subsidiary received a utility model patent certificate for a servo adjustment device [26] - Yibin Technology received a project designation from a domestic new energy vehicle company, with an estimated total sales of 243 million yuan over five years [28] - Star Ring Technology's H-share issuance application was accepted by the China Securities Regulatory Commission [30] Group 7 - Microchip Bio's vice president resigned for personal reasons [31] - Zhongxin Co. announced the resignation of a non-independent director due to personal reasons [32] - Changcheng Military Industry's vice chairman resigned due to retirement [35] Group 8 - Jiukang Bio received four invention patent certificates related to detection reagents [36] - Meino Bio's subsidiary changed its registered address [37] - Kuangda Technology announced a potential change in control due to a share transfer [38] Group 9 - China Rare Earth confirmed no undisclosed significant matters amid stock price fluctuations [72]

格隆汇9月1日丨华鲁恒升(600426.SH)公布，公司于2025年7月31日披露了《关于部分生产装置停车检修 的公告》(临2025-040号)，根据年度计划，公司于2025年8月2日开始对部分生产装置进行停车检修。至 2025年8月31日，公司检修工作已经完成，恢复正常生产。 ...

格隆汇9月1日丨华鲁恒升(600426.SH)公布，截至2025年8月31日，公司已累计回购股份433.40万股，占 公司总股本的比例为0.20%，回购成交的最高价为24.25元/股、最低价为20.75元/股，支付的资金总额为 人民币9,681.15万元（不含交易费用）。 ...