本周76股获机构扎堆关注。 据证券时报·数据宝统计，本周（5月12日~16日），55家机构合计进行684次评级，共计541股被券商研报给予"买入型"评级（包括买入、增持、强烈推 荐、推荐）。 合计来看，共23股获3家及以上机构重点关注。机构关注度最高的是鼎捷数智，有5家机构评级；中芯国际、中国化学等5股有4家机构评级。 评级机构家数3家及以上的个股中，汽车股上榜数量最多，共6只。本周汽车板块表现强势，近日国家强制标准《轻型汽车自动紧急制动系统技术要求及试 验方法》完成起草，AEBS将强制安装（详见《强制安装！汽车新规来了，曾引爆大佬口水战，产业链公司曝光》），周五汽车行业指数大涨1.91%，逾 10股涨停。通信、机械设备行业紧随其后，分别有3只个股上榜。 23股获机构上调评级 14股最高上涨空间超60% | | | | 本周(5月12日~16日) 评级机构家数居前的个股 | | | | --- | --- | --- | --- | --- | --- | | 代码 | 简称 | 评级家数 | 息市值 (亿元) | 5月以来 涨跌幅 | 行业 | | | | | | (%) | | | 300378 | 鼎捷 ...

Core Viewpoint - The signing of the EPC contract for the Aktyubinsk Ferroalloy Plant flue gas power generation project marks a significant milestone in the collaboration between China Chemical Tianchen Company and Kazakhstan's ERG Group, representing the first flue gas recovery power generation project in Central Asia, emphasizing innovative environmental technology and substantial emission reduction benefits [2][3]. Group 1 - The project will utilize Tianchen Company's efficient green flue gas recovery power generation technology to recycle production flue gas from the ERG Group's Aktyubinsk Ferroalloy Plant, enabling power generation [2]. - Upon completion, the project is expected to save approximately 200 million standard cubic meters of natural gas annually and reduce carbon dioxide emissions by 320,000 tons, contributing to energy utilization efficiency and significantly lowering electricity costs for the enterprise [2]. - The project is recognized as a key initiative in Kazakhstan's green power sector, supporting the country's energy conservation and emission reduction goals while promoting sustainable economic development [2]. Group 2 - The successful implementation of the Aktyubinsk Ferroalloy Plant flue gas power generation project exemplifies Tianchen Company's innovative "T+EPC" business model, leveraging its advantages in flue gas recovery technology and engineering contracting experience [3]. - This project is expected to bring significant economic and environmental benefits to Kazakhstan and establish a benchmark for green energy engineering in the region, showcasing the core competitiveness of "China Chemical Intelligence Manufacturing" [3]. - The project will provide strong momentum for China Chemical's entry into the global high-end engineering market and serves as a vivid representation of the win-win cooperation between China and Kazakhstan under the "Belt and Road" initiative [3].

Investment Rating - The report maintains a "Positive" outlook for the building materials industry [2] Core Insights - The building materials sector continues to experience historical lows in 2024 and 2025, but signs of improvement are emerging [4][12] - Revenue for the building materials sector in 2024 is projected at CNY 682.93 billion, a year-on-year decline of 12.41%, ranking second to last among 31 industries [4][16] - In Q1 2025, the sector's revenue decline narrowed to 1.60%, with a revenue of CNY 129.83 billion, improving its ranking to 18th among industries [5][40] - The net profit margin and return on equity (ROE) are at historical lows, with the sector's net profit margin dropping to 2.61% in 2024 [25][28] Summary by Sections 1. Industry Performance Overview - The building materials sector's revenue and net profit continue to decline in 2024, remaining at the bottom of industry rankings [4][16] - Q1 2025 shows a narrowing revenue decline and improvements in net profit and cash flow, with a net profit of -CNY 243 million, a 74.02% year-on-year increase [5][44] 2. Segment Performance - In Q1 2025, segments like cement and glass fiber show positive revenue growth, with cement revenue up 0.11% and glass fiber up 25.24% [6][55] - Most segments, except for pipes, show improvements in net profit year-on-year, with cement, glass fiber, refractory materials, and coatings ending their respective revenue declines [6][58] 3. Investment Strategy - The report suggests that leading companies in the sector can achieve better growth in a challenging environment through internal and external development strategies [8][81] - The anticipated recovery of the real estate sector is expected to stabilize demand for building materials, leading to valuation recovery in the industry [8][84] - Recommended companies include Beixin Building Materials, Weixing New Materials, Shandong Pharmaceutical Glass, and others [8][84]

【导读】中国化学（601117）孙公司涉康得新证券虚假陈述责任纠纷诉讼 5月15日，中国化学工程股份有限公司（以下简称中国化学）发布公告称，孙公司中国化学赛鼎宁波工程有限公司（以下简称赛鼎 宁波）近日收到江苏省苏州市中级人民法院送达的《应诉通知书》，获悉赛鼎宁波涉及浙江中泰创赢资产管理有限公司（以下简称 中泰创赢）起诉康得新复合材料集团股份有限公司（以下简称康得新）证券虚假陈述责任纠纷诉讼。 中国化学表示，经初步核实，赛鼎宁波不存在明知康得新实施财务造假而依然配合的情形。 公告显示，中国化学孙公司赛鼎宁波近日收到江苏省苏州市中级人民法院送达的《应诉通知书》。 原告中泰创赢称，其于2016年11月起持续投资购买康得新股票，截至2021年5月减持完毕，上述投资发生损失。原告中泰创赢请求 法院判令被告一（康得新）支付因其虚假陈述造成的投资差额损失约51.47亿元，投资差额损失部分的佣金约154.42万元，印花税约 514.73万元。另有十位其他被告。 赛鼎宁波是共同被告中的第七被告。原告中泰创赢称，除被告一外，赛鼎宁波等十位被告在本案中对原告应承担的给付义务承担连 带赔偿责任。 截至5月15日收盘，中国化学股价报8 ...

Core Viewpoint - China Chemical (601117.SH) announced that its subsidiary, China Chemical Sading Ningbo Engineering Co., Ltd., is involved in a lawsuit concerning securities fraud against Kangde Xin Composite Materials Group Co., Ltd. [1][3] Group 1: Lawsuit Details - Zhejiang Zhongtai Chuangying Asset Management Co., Ltd. claims investment losses of 5.147 billion yuan due to Kangde Xin's false statements from 2016 to 2021 and seeks compensation, including related commissions and taxes [3] - Sading Ningbo is listed as the seventh defendant in the lawsuit, primarily due to previous business dealings with Kangde Xin, but the company asserts it did not knowingly assist in any fraudulent activities [3][4] - The case involves eleven defendants, and China Chemical preliminarily assesses that it will not materially impact current or future profits [3][4] Group 2: Background on Kangde Xin - Kangde Xin was listed in July 2010 and specializes in the research and consulting of polymer composite materials and functional film materials [4] - The company was forced to delist in 2021 after it was found to have fabricated over 10 billion yuan in profits [4] - Zhejiang Zhongtai Chuangying became the second-largest shareholder of Kangde Xin after signing a strategic cooperation agreement in 2016, which was terminated in 2018 [4]

Group 1: Company Announcements - Heng Rui Pharmaceutical has completed its share repurchase plan, spending approximately 600 million yuan, repurchasing 12.9051 million shares, which is 0.20% of the total share capital, with an average repurchase price of about 46.59 yuan per share [1] - Chengdi Xiangjiang's wholly-owned subsidiary signed an EPC general contracting contract with China Mobile for a project worth 1.632 billion yuan, which is expected to positively impact future revenue [2] - Jingyuan Environmental Protection's wholly-owned subsidiary signed a contract for a computing cluster construction project worth 365 million yuan, with a gross profit margin of approximately 9% to 10% [3] Group 2: Legal and Regulatory Issues - China Chemical's subsidiary is involved in a lawsuit concerning false statements related to securities, with a claim for damages amounting to 5.147 billion yuan [4] - ST Huijin has applied to revoke its other risk warning status after addressing issues from a previous administrative penalty, pending approval from the Shenzhen Stock Exchange [5] Group 3: Stock Performance and Risks - Ningbo Shipping's stock has seen a significant short-term increase, with a cumulative price deviation exceeding 20% over three trading days, indicating potential trading risks [6] - Lianyungang's stock has also experienced a similar short-term price increase, with a 48.01% year-on-year decline in net profit for the first quarter [7] - Xinhua Jin has reported potential risks of administrative penalties or disciplinary actions from the China Securities Regulatory Commission due to uncertainties in export business [8]

Group 1 - Feilong Co., Ltd. received a project designation notification letter from a well-known domestic automobile brand, becoming a supplier for a water-side thermal management module, with expected sales revenue during the lifecycle meeting disclosure standards [1] - Hanchuan Intelligent's controlling shareholder received a warning letter from Jiangsu Securities Regulatory Bureau for failing to timely disclose a share pledge contract, which may affect the company's control and stock price [2] - Vanke A completed the redemption of the "20 Vanke 04" corporate bonds, with a redemption amount of 1.5 billion yuan and interest payment of 51.75 million yuan [3][4] Group 2 - China Shenhua reported a 4% year-on-year decline in coal sales volume for April, totaling 35.6 million tons, and a 3.9% decrease in commodity coal production [5] - Shaanxi Black Cat plans to increase capital by 600 million yuan for its wholly-owned subsidiary Xinjiang Black Cat Coal Industry to enhance its capital strength [6][7] - China National Aviation reported an 8.6% year-on-year increase in passenger turnover for April, with a 5.3% increase in passenger capacity [8][9] Group 3 - Huabei Pharmaceutical's subsidiary received approval for clinical trials of a recombinant tetanus vaccine, which is a new generation vaccine with better safety and immunogenicity [10] - China Chemical's subsidiary received a lawsuit notice related to a securities false statement liability dispute [11] - China Metallurgical Group reported a 24.9% year-on-year decline in new contract value for January to April, totaling 308.4 billion yuan [13] Group 4 - Zhongmei Energy reported a 5.8% year-on-year decline in commodity coal sales for April, totaling 21.1 million tons [14] - Huangma Technology announced a plan to reduce holdings of up to 6.26 million shares due to personal funding needs [15] - Aiyingshi proposed a cash dividend of 2.53 yuan per 10 shares for the fiscal year 2024 [16] Group 5 - Shengyi Technology's executives plan to reduce their holdings by a total of 1.49 million shares [17] - CanSino's inhaled tuberculosis vaccine received clinical trial approval in Indonesia [18] - Beidouxingtong completed the acquisition of 51% of Shenzhen Tianli Automotive Electronics Technology Co., Ltd. [19] Group 6 - Spring Airlines reported a 12.29% year-on-year increase in available capacity for April, with a total of 4.73 billion ton-kilometers [20] - Dongya Pharmaceutical's raw material drug received registration certification in South Korea [21] - Shandong Steel plans to establish a sales subsidiary with a registered capital of 20 million yuan [22] Group 7 - Caida Securities appointed Hu Hengsong as the executive vice president [23] - Aibulu's vice president resigned due to personal career planning [24] - *ST Jinguang's stock price surged amid a warning of delisting risk [25] Group 8 - Yunnan Energy Investment plans to implement a 600,000 tons/year salt production energy-saving and carbon reduction project with a total investment of 448 million yuan [27] - Hanyu Group's executives plan to reduce their holdings due to personal funding needs [28] - Jiangsu Boyun's shareholders plan to reduce their holdings by up to 971,300 shares [29] Group 9 - Hainan Airport signed a cooperation agreement with Harbin Institute of Technology (Shenzhen) to establish a joint laboratory [32] - Xiamen Tungsten New Energy plans to acquire 47% of Ganzhou Haopeng Technology Co., Ltd. [33] - Dongfang Materials announced a change in controlling shareholder due to judicial auction of shares [34] Group 10 - Jingyuan Environmental Protection's executives plan to reduce their holdings by a total of 1.176% of the company's shares [35] - China Pacific Insurance reported a 10.4% year-on-year increase in original insurance premium income for the first four months [36] - ST United is planning a major asset restructuring and has suspended trading [37] Group 11 - *ST Suwu's chairman received a notice of investigation for suspected information disclosure violations [39] - Huagong Technology's subsidiary plans to establish a joint venture [40] - Qibin Group terminated the purchase of 28.78% equity in its subsidiary [41] Group 12 - Huakang Clean signed a construction contract worth 143 million yuan with Dengfeng City General Hospital [42] - Kanghong Pharmaceutical received approval for clinical trials of a drug for postpartum depression [43] - Shengjing Micro plans to repurchase shares worth between 30 million and 50 million yuan [44] Group 13 - Shenghe Resources' subsidiary plans to acquire 100% of Peak Rare Earths Limited for 158 million Australian dollars [45] - Sinopec's controlling shareholder increased its stake by 302 million H-shares, amounting to HKD 1.232 billion [46] - Mingyang Circuit plans to repurchase shares worth between 15 million and 25 million yuan [47] Group 14 - China Oil Engineering's subsidiary won a project in Iraq worth approximately 11.538 billion yuan [48] - Chaojie Co., Ltd. announced the termination of a share transfer agreement [49]

一、本次诉讼的基本情况 证券代码：601117 股票简称：中国化学 公告编号：临 2025-020 中国化学工程股份有限公司 1.管辖法院：苏州市中级人民法院 关于孙公司收到应诉通知书的公告 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： 中国化学工程股份有限公司（以下简称"公司"）孙公司中国 化学赛鼎宁波工程有限公司（以下简称"赛鼎宁波"）近日收到江 苏省苏州市中级人民法院送达的《应诉通知书》，获悉赛鼎宁波涉 及浙江中泰创赢资产管理有限公司（以下简称"中泰创赢"）起诉 康得新复合材料集团股份有限公司（以下简称"康得新"）证券虚 假陈述责任纠纷诉讼。本案曾于 2022 年在南京市中级人民法院立案， 现移送至苏州市中级人民法院受理，系存量案件，仅涉及管辖法院 变更，诉讼请求等未发生变化。截至本公告日，该诉讼事项尚未开 庭审理。 1 案件所处的诉讼阶段：法院已立案受理，尚未开庭审理。 公司下属孙公司所处的当事人地位：共同被告（第七被告）。 2.原告：浙江中泰创赢资产管理有限公司 3.被告： 被告一：康得新复合材料 ...

Investment Rating - The investment rating for the construction and engineering sector is "Positive" and maintained [7]. Core Insights - The China Securities Regulatory Commission (CSRC) released the "Action Plan for Promoting the High-Quality Development of Public Funds" on May 7, which emphasizes the importance of performance benchmarks and strict regulation of fund companies' selection of benchmarks [2][6]. - The Action Plan aims to optimize fund operation models and establish a mechanism that binds fund company income to investor returns, addressing market concerns about fund companies profiting while investors do not [10]. - The plan encourages the issuance of actively managed equity funds with performance-based management fees, aiming for at least 60% of the top fund management institutions to issue such funds within a year [10]. - The Action Plan also stresses the need for long-term performance assessments and incentives for fund managers, with a significant weight on performance metrics [10]. - The focus on performance benchmarks is expected to reduce the tendency of funds to concentrate on single sectors or styles, promoting a more stable investment approach [10]. - The construction sector, particularly stocks with significant weight in the CSI 300 index, is highlighted as a key area for investment, with major state-owned enterprises included [10]. - Recommended stocks for weight allocation include Sichuan Road & Bridge, China State Construction, and others that align with high dividend characteristics and stable growth expectations [10]. Summary by Sections - **Event Description**: The CSRC's release of the "Action Plan" on May 7 [6]. - **Event Commentary**: The Action Plan's implications for fund management and investment strategies in the construction sector [10].

Investment Rating - The investment rating for the company is "Buy" and is maintained [11]. Core Views - The company achieved an annual revenue of 185.84 billion yuan in 2024, representing a year-on-year growth of 4.20%. The net profit attributable to shareholders was 5.69 billion yuan, up 4.82% year-on-year, while the net profit after deducting non-recurring gains and losses was 5.52 billion yuan, increasing by 6.02% [2][8]. - In Q1 2025, the company reported a revenue of 44.50 billion yuan, a decrease of 0.98% year-on-year, but the net profit attributable to shareholders rose by 18.77% to 1.45 billion yuan, with a 22.63% increase in net profit after deducting non-recurring gains and losses [2][8]. Summary by Sections Financial Performance - In 2024, the company’s revenue growth was driven by the chemical engineering and new materials sectors, with chemical engineering revenue reaching 152.18 billion yuan, up 6.89%, and new materials revenue at 8.75 billion yuan, up 13.42% [12]. - The overall gross margin for 2024 was 10.11%, an increase of 0.70 percentage points year-on-year. The net profit margin for the year was 3.06%, slightly up by 0.02 percentage points [12][12]. Contract and Cash Flow - The company signed new contracts worth 366.94 billion yuan in 2024, a year-on-year increase of 12.30%. The overseas new contract amount was 113.31 billion yuan, up 12.63%, accounting for 30.88% of total new contracts [12]. - Operating cash flow for 2024 was a net inflow of 8.72 billion yuan, a decrease of 0.41 billion yuan year-on-year, with a cash collection ratio of 91.71%, up 2.55 percentage points [12]. Operational Highlights - The company made significant progress in its chemical industrial operations, with successful projects in various sectors, including the Tianchen company’s optimization of catalyst for adiponitrile production and the Hualu company’s innovations in aerogel products [12]. - The company is well-positioned to benefit from the "Belt and Road" initiative, with overseas revenue reaching 46.21 billion yuan in 2024, a substantial increase of 30.06% [12].