综合行业今日下跌0.34%，全天主力资金净流出1.36亿元，该行业所属的个股共17只，今日上涨的有13 只；下跌的有3只。以资金流向数据进行统计，该行业资金净流入的个股有6只，净流入资金居首的是漳 州发展，今日净流入资金2931.23万元，紧随其后的是悦达投资、泰达股份，净流入资金分别为1564.85 万元、658.35万元。综合行业资金净流出个股中，资金净流出超千万元的有5只，净流出资金居前的有 东阳光、天宸股份、特力A，净流出资金分别为8633.51万元、4362.82万元、1458.86万元。 综合行业资金流向排名 | 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 600673 | 东阳光 | -4.53 | 2.77 | -8633.51 | | 600620 | 天宸股份 | -1.81 | 13.47 | -4362.82 | | 000025 | 特力A | 0.40 | 1.82 | -1458.86 | | 600881 | 亚泰集团 | 3.85 | 4.19 | -1385.7 ...

相关研究报告 《制冷剂报价坚挺上行，趋势延续— 氟化工行业周报》-2025.7.6 《制冷剂商业模型逐渐定型，行情演 绎不断验证，向上趋势延续—氟化工 行业周报》-2025.6.22 《制冷剂行情向上趋势延续，产业逻 辑不断验证，积极把握投资机会—氟 化工行业周报》-2025.6.7 《制冷剂行业深度报告三：蓄势双 击，或迎主升》（2024.12.17） 《制冷剂政策点评：制冷剂 2025 年 配额方案征求意见稿下发，看好制冷 剂景气向上趋势延续》（2024.9.16） 《东阳光首次覆盖报告：原有主业或 迎业绩反转，制冷剂开启长景气周 期》（2024.8.27） 《制冷剂行业深度报告二：拐点已 现，行则将至》（2024.2.6） 《制冷剂行业深度报告：十年轮回， 未来已来》（2021.10.20） 《金石资源深度报告（三）：新兴产 业创造新的需求增长极，萤石供给将 现缺口》（2021.8.22） 化学原料 2025 年 07 月 20 日 投资评级：看好（维持） 行业走势图 数据来源：聚源 -19% -10% 0% 10% 19% 29% 2024-07 2024-11 2025-03 化学原料 沪深300 ...

海洋经济方面，2024年全国海洋生产总值首破10万亿元，占GDP7.8%;今年一季度同比增长5.7%。业内 认为深海科技前景广阔，预计2025年海洋生产总值将破13万亿元，深海科技产业占比超25%。多地积极 布局，青岛、海南、厦门分别出台规划，聚焦海洋科技创新、深海装备等领域，天风证券建议关注深海 材料、装备及数智化应用机会，三友化工已将海洋化学资源开发列为培育主业。 中信建投期货分析称，此轮上涨是对前期超跌的修复，因价格已跌破优势企业现金成本，利润修复预期 推动回弹。 中化新网讯 近日召开的中央财经委员会第六次会议，聚焦全国统一大市场建设与海洋经济高质量发 展，带动相关板块走强。7月1日至10日的8个交易日内，光伏指数涨3.97%、绿色电力涨4.08%、海洋经 济指数最高涨7.99%，均跑赢同期上证指数和深圳成指。作为国民经济基础产业的化工行业，有望从国 家战略规划中受益。 会议直指"内卷式"竞争治理，强调"推动落后产能有序退出"，新一轮去产能启动。7月2日，多晶硅期货 多个合约涨停，主力合约收于3.505万元/吨，创近期新高;硅料价格同步回升，N型复投料成交均价3.47 万元/吨，环比涨0.87%。 此外 ...

| 证券代码：600673 | 证券简称：东阳光 | | 编号：临 | 2025-47 号 | | --- | --- | --- | --- | --- | | 债券代码：242444 | 债券简称：25 东科 | 01 | | | 广东东阳光科技控股股份有限公司 关于控股股东之一致行动人部分股份质押的公告 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法律责任。 重要内容提示: 控股股东之一致行动人乳源阳之光铝业发展有限公司（以下简称"阳之 光铝业"）持有本公司股份 128,058,819 股，占公司总股本的 4.26%；截至本次股 份质押完成后，阳之光铝业持有本公司股份累计质押数量 111,090,543 股，占其 持股数量的 86.75%。 截至本公告披露日，公司控股股东深圳市东阳光实业发展有限公司（以 下简称"深圳东阳光实业"）累计质押股数数量为 561,798,054 股，占其持股数 量的 90.96%；控股股东及其一致行动人累计质押股数数量为 1,264,388,597 股， 占合计持股数量比例为 79.62%。 一、本次 ...

Core Viewpoint - The fluorochemical industry is experiencing a performance explosion, with several companies forecasting significant profit growth for the first half of 2025, driven primarily by rising prices of fluorinated refrigerants [1][3]. Group 1: Company Performance - Juhua Co. expects a net profit of 1.97 billion to 2.13 billion yuan, representing a year-on-year increase of 136% to 155% [3]. - Sanmei Co. anticipates a profit of 948 million to 1.042 billion yuan, with a growth rate of 146.97% to 171.67% [3]. - Yonghe Co. and Dongyangguang expect profits of 255 million to 280 million yuan and 583 million to 663 million yuan, respectively, with year-on-year growth rates of 126.3% to 148.49% and 157.48% to 192.81% [3]. Group 2: Market Dynamics - The core driver of profit growth is the significant increase in fluorinated refrigerant prices, influenced by reduced production quotas for second-generation refrigerants (HCFCs) and strong downstream demand for third-generation refrigerants (HFCs) [3][4]. - As of July 8, prices for third-generation refrigerants R32, R125, and R134a have increased by 3.92%, 0%, and 2.06% respectively compared to the previous month, with notable year-to-date increases [3]. Group 3: Industry Trends - The downstream applications of refrigerants are concentrated in air conditioning, automotive air conditioning, and refrigeration, with domestic air conditioning production reaching 135 million units from January to May 2025, a year-on-year increase of 4.74% [4]. - The Ministry of Ecology and Environment issued quotas for hydrofluorocarbons for 2025, further regulating supply and laying a foundation for high industry prosperity [4]. Group 4: Company Strategies - Dongyangguang achieved record high profits in the first half of the year, leveraging its quota advantage in third-generation refrigerants and a complete chlorofluorocarbon industrial chain to convert pricing power into performance growth [4]. - The company is accelerating its layout in fourth-generation refrigerants, establishing a technology hierarchy of "one generation leading, one generation reserving" [4]. - In the electronic components sector, Dongyangguang has built an integrated industrial chain for capacitors, with growing demand from data centers and energy storage, leading to optimized cost structures and new profit growth points [4]. Group 5: Emerging Business Ventures - Dongyangguang is constructing a liquid cooling ecosystem through capital operations, forming joint ventures and partnerships to enhance its competitive advantage across the entire industry chain [5]. - The company has entered the smart robotics field, with initial orders reaching 70 million yuan and plans to achieve an annual production capacity of over 10,000 units within five years [5]. Group 6: Industry Outlook - Industry insiders believe that the fluorochemical sector has entered a high prosperity cycle, supported by improved supply-demand dynamics and policy backing, with leading companies expected to continue expanding market share and enhancing profitability through technological advancements and diversified strategies [6].

Core Viewpoint - Several fluorochemical companies have announced positive earnings forecasts for the first half of 2025, with expected net profit growth exceeding 100% year-on-year for companies like Zhejiang Juhua Co., Ltd., Zhejiang Sanmei Chemical Co., Ltd., Zhejiang Yonghe Refrigeration Co., Ltd., and Guangdong Dongyangguang Technology Holdings Co., Ltd. [1] Group 1: Earnings Forecasts - Juhua Co. expects a net profit of 1.97 billion to 2.13 billion yuan, representing a year-on-year increase of 136% to 155% [2] - Sanmei Co. anticipates a net profit of 948 million to 1.042 billion yuan, with a growth of 146.97% to 171.67% [2] - Yonghe Co. projects a net profit of 255 million to 280 million yuan, reflecting a growth of 126.3% to 148.49% [2] - Dongyangguang expects a net profit of 583 million to 663 million yuan, with an increase of 157.48% to 192.81% [2] Group 2: Supply and Demand Dynamics - The core business of these companies, fluorinated refrigerants, has seen significant price increases due to reduced production quotas for second-generation refrigerants (HCFCs) and the implementation of production quotas for third-generation refrigerants (HFCs) starting in 2024 [2] - The supply-demand structure has improved significantly, leading to price increases and substantial profit growth for companies in the industry [2] Group 3: Market Trends - The fluorochemical industry has a broad coverage, with upstream activities including the mining and processing of raw materials like fluorite, midstream activities involving the synthesis and processing of fluorides, and downstream applications in refrigeration, military, electronics, and new energy sectors [3] - The prices of third-generation refrigerants R32, R125, and R134a have increased by 3.92%, 0%, and 2.06% respectively compared to the previous month [3] Group 4: Demand Growth - The demand for refrigerants is primarily driven by the home appliance and automotive air conditioning sectors, with a notable increase in domestic air conditioning production [4] - From January to May 2025, domestic air conditioning production reached approximately 135 million units, a year-on-year increase of 4.74% [4] - The rapid development of new energy vehicles and increased export volumes have also contributed to the rising demand for refrigerants [4]

2025年7月10日晚间，东阳光（600673）(股票代码：600673.SH)披露业绩预告，预计2025年半年度实现 净利润5.83亿元至6.63亿元，同比增长157.48%—192.81%。这一业绩不仅创下历史新高，也体现了东阳 光在复杂多变的市场环境中的强劲竞争力。本次业绩大增，主要得益于两大板块的强劲表现：一是化工 制冷剂和电子元器件等传统优势板块的持续发力，其中化工制冷剂贡献本次业绩大增的利润基石；二是 液冷业务和智能机器人业务等战略转型板块的快速崛起，并产生业绩。 化工制冷剂：配额驱动下的"再定价"逻辑 在环保政策收紧与消费需求反弹的双重驱动下，东阳光制冷剂业务迎来历史性增长窗口，成为上半年业 绩飙升的核心引擎。这一爆发并非偶然，而是行业变革、政策红利与市场机遇多重因素交织的成果。 展望未来，一方面，东阳光将持续聚焦消费电子、光伏储能、工控变频、数据中心和新能源汽车等核心 领域，积极拓展新客户资源；另一方面，针对积层箔产品，实施差异化推广策略，重点开发新客户群 体，并深入挖掘现有客户的潜在需求，通过精准的市场定位和个性化的服务，提升产品的市场占有率。 液冷科技：重构AI基础设施的差异化破局 当AI ...

Investment Rating - The report maintains a positive outlook on the chemical industry, with specific buy and hold recommendations for various companies [2][20]. Core Insights - The report highlights the closure of Dow's organic silicon production capacity in Barry, UK, which is expected to increase domestic export demand and support the upstream industrial silicon costs, indicating a potential reversal in the organic silicon industry [4][5]. - The demand for high-end AI PCBs is projected to surge due to the continuous growth in computing power requirements, driven by GPU, ASIC, and 800G switch technologies [4]. - The report notes that the recent tariff announcements from the US on imports from Southeast Asia are lower than expected, stabilizing pessimistic market sentiments [4]. Industry Dynamics - The macroeconomic outlook for the chemical industry indicates a significant increase in oil supply led by non-OPEC countries, with a stable global GDP growth rate of 2.8% [5]. - The report mentions that coal prices are expected to decline in the medium to long term, alleviating pressure on downstream sectors [5]. - Natural gas exports from the US are anticipated to accelerate, potentially lowering import costs [5]. Company Recommendations - Companies to watch in the organic silicon sector include Dongyue Silicon Materials, Xin'an Chemical, and Xingfa Group [4]. - In the PCB sector, recommended companies include Shengquan Group, Dongcai Technology, Lianrui New Materials, Yake Technology, Tiancheng Technology, and Jiuri New Materials [4]. - For traditional cyclical stocks, the report suggests focusing on leading companies in various segments such as Wanhu Chemical, Hualu Hengsheng, and Baofeng Energy [4]. Price Trends - The report provides specific price movements for various chemical products, such as PTA prices decreasing by 2.8% to 4715 RMB/ton, while MEG prices increased by 0.7% to 4409 RMB/ton [11]. - Urea prices rose by 2.9% to 1800 RMB/ton, while phosphate prices remained stable [12]. - The report notes that the price of DMC increased by 1.9% to 11000 RMB/ton, indicating a recovery in the organic silicon market [15].

2025 年 07 月 12 日 东阳光 (600673) ——制冷剂景气向上支撑利润，机器人业务已实现收入 报告原因：强调原有的投资评级 买入（维持） | 市场数据： | 2025 年 07 月 11 日 | | --- | --- | | 收盘价（元） | 13.42 | | 一年内最高/最低（元） | 14.10/6.20 | | 市净率 | 4.4 | | 股息率%（分红/股价） | - | | 流通 A 股市值（百万元） | 40,281 | | 上证指数/深证成指 | 3,510.18/10,696.10 | | 注："股息率"以最近一年已公布分红计算 | | | 基础数据: | 2025 年 03 月 31 日 | | --- | --- | | 每股净资产（元） | 3.02 | | 资产负债率% | 65.18 | | 总股本/流通 A 股（百万） | 3,010/3,002 | | 流通 B 股/H 股（百万） | -/- | 一年内股价与大盘对比走势： 07-11 08-11 09-11 10-11 11-11 12-11 01-11 02-11 03-11 04-11 05-11 06 ...

近来，A股、港股均呈现量价齐升的态势，7月10日上证指数更是站稳3500点。就在资本市场一路高歌 之际，随着半年度业绩预告披露窗口期开启，上市公司2025年上半年业绩备受市场关注。电子新材料巨 头东阳光（600673）（600673.SH）正以超预期的业绩增长，验证战略转型的前瞻性。 7月10日晚间，东阳光抛出了一份令市场惊艳的业绩预告——2025年上半年预计实现净利润5.83亿元至 6.63亿元，同比增幅高达157.48%-192.81%；预计实现归母净利润4.71亿元至5.51亿元，同比增幅最高超 200%。 这份被投资者称为"史上最强"的半年报预告，不仅刷新了公司自身业绩纪录，更验证了其向智算中心液 冷及人形机器人领域战略转型的成功路径。同日，东阳光还公布了员工持股计划及参与关联方东阳光药 向参股公司长江药业换股H股的合并换股事项的公告，在股价上行、业绩高增与资本运作的多重利好 下，东阳光正以"技术+产业"双轮驱动模式，加速竞逐未来计算革命与智能制造赛道。 传统与新兴业务双轮驱动业绩腾飞 东阳光的业绩爆发绝非偶然。 2025年上半年，东阳光传统业务板块延续强势表现。第三代制冷剂（HFCs）作为当前的主流 ...