格隆汇9月3日丨振华股份(603067.SH)在投资者互动平台表示，目前厦门首能在固态电池方面处于小批 量送货并配合下游客户进行应用开发阶段；主要应用在低空领域、应急启动电源、无人机等方面。 ...

8月29日，振华转债盘中上涨2.04%报273.485元/张，成交额1.90亿元，转股溢价率20.58%。 资料显示，振华转债信用级别为"AA"，债券期限6年（本次发行的可转债票面利率为第一年0.20%、第 二年0.40%、第三年0.80%、第四年1.50%、第五年1.80%、第六年2.00%），对应正股名称为振华股份， 转股开始日为2025年1月20日，转股价8.2元。 可转换债券简称可转债，是一种可以在特定时间、按特定条件转换为普通股票的特殊企业债券，兼具债 权和股权的特征。一般而言，持有人可按照发行时约定的价格将债券转换成公司的普通股票的债券。如 果债券持有人不想转换，则可以继续持有债券，直到偿还期满时收取本金和利息，或者在流通市场出售 变现。 资料显示，湖北振华化学股份有限公司(股票代码SH.603067)是目前全球范围内最具规模的铬盐上市企 业,公司维生素K3的生产能力位居全球前列。公司是高新技术企业,分别在湖北黄石、重庆潼南设有生产 基地,拥有"民众"、"楚高"两大业内知名品牌,公司综合竞争力全球领先。公司主要产品有重铬酸钠、重 铬酸钾、铬酸酐、氧化铬绿、碱式硫酸铬、精制元明粉、铬黄、金属铬、超细 ...

| 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | F5G概念 | 0.46 | 钛白粉概念 | -3.88 | | 中国AI 50 | 0.36 | 兵装重组概念 | -3.63 | | 共封装光学(CPO) | 0.18 | 天津自贸区 | -3.49 | | 稀土永磁 | 0.10 | 太赫兹 | -3.40 | | 智能音箱 | -0.27 | 基因测序 | -3.38 | | WiFi 6 | -0.46 | 细胞免疫治疗 | -3.29 | | MLOps概念 | -0.49 | 猴痘概念 | -3.25 | | 星闪概念 | -0.62 | 血氧仪 | -3.25 | | MCU芯片 | -0.66 | 幽门螺杆菌概念 | -3.24 | | 国家大基金持股 | -0.72 | 辅助生殖 | -3.23 | 资金面上看，今日钛白粉概念板块获主力资金净流出5.76亿元，其中，14股获主力资金净流出，8股主 力资金净流出超3000万元，净流出资金居首的是振华股份，今日主力资金净流出1.60亿元，净流出资金 居前的还有中核钛白、钒 ...

证券之星消息，8月27日化学原料板块较上一交易日下跌2.5%，振华股份领跌。当日上证指数报收于 3800.35，下跌1.76%。深证成指报收于12295.07，下跌1.43%。化学原料板块个股涨跌见下表： 从资金流向上来看，当日化学原料板块主力资金净流出18.17亿元，游资资金净流入4.52亿元，散户资金 净流入13.65亿元。化学原料板块个股资金流向见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 000691 | *ST亚太 | 7.55 | 3.71% | 18.32万 | | 1.37亿 | | 000830 | 鲁西化工 | 14.19 | 0.00% | 65.14万 | | 9.38 G | | 002092 | 中泰化学 | 4.98 | -0.20% | 117.08万 | | 5.97亿 | | 600409 | 三友化工 | 6 ...

数据显示，融通基金旗下1只基金重仓振华股份。融通成长30灵活配置混合A/B（002252）二季度减持 14.69万股，持有股数39.82万股，占基金净值比例为3.2%，位居第十大重仓股。根据测算，今日浮亏损 失约38.23万元。 融通成长30灵活配置混合A/B（002252）成立日期2015年12月11日，最新规模8697.12万。今年以来收益 20.28%，同类排名3712/8194；近一年收益20.52%，同类排名5615/7963；成立以来收益213.7%。 融通成长30灵活配置混合A/B（002252）基金经理为李文海。 8月27日，振华股份跌5.01%，截至发稿，报18.21元/股，成交5.20亿元，换手率3.92%，总市值129.43亿 元。 资料显示，湖北振华化学股份有限公司位于湖北省黄石市西塞山区黄石大道668号，成立日期2003年6月 19日，上市日期2016年9月13日，公司主营业务涉及铬盐系列产品的研发、制造与销售,并对铬盐副产品 及其它固废资源化综合利用。主营业务收入构成为：无机盐相关行业114.86%，物流运输业3.09%，其 他1.82%。 从基金十大重仓股角度 截至发稿，李文海累 ...

8月27日，振华转债盘中下跌2.33%报280.977元/张，成交额7005.47万元，转股溢价率21.94%。 资料显示，振华转债信用级别为"AA"，债券期限6年（本次发行的可转债票面利率为第一年0.20%、第 二年0.40%、第三年0.80%、第四年1.50%、第五年1.80%、第六年2.00%），对应正股名称为振华股份， 转股开始日为2025年1月20日，转股价8.2元。 资料显示，湖北振华化学股份有限公司(股票代码SH.603067)是目前全球范围内最具规模的铬盐上市企 业,公司维生素K3的生产能力位居全球前列。公司是高新技术企业,分别在湖北黄石、重庆潼南设有生产 基地,拥有"民众"、"楚高"两大业内知名品牌,公司综合竞争力全球领先。公司主要产品有重铬酸钠、重 铬酸钾、铬酸酐、氧化铬绿、碱式硫酸铬、精制元明粉、铬黄、金属铬、超细氢氧化铝及维生素K3 等。目前,公司正深度融入液流储能产业链,逐步开展在液流储能关键原材料领域的投资布局。 根据最新一期财务数据，2025年1月-6月，振华股份实现营业收入21.896亿元，同比增加10.17%；归属 净利润2.979亿元，同比增加23.62%；扣非净利润2.9 ...

Investment Rating - The report maintains an "Outperform" rating for the company [2] Core Views - The company has been confirmed as the sole investor in the restructuring of Xinjiang Shenhong Group, which is expected to optimize the industry landscape [7] - The demand for chromium salts is anticipated to surge in 2025, driven by increased needs in high-temperature alloys and special steel, as well as strong export demand [7] - The company is projected to achieve net profits of 703 million, 857 million, and 1,010 million yuan for the years 2025, 2026, and 2027 respectively, with corresponding PE valuations of 19X, 16X, and 14X [7] Financial Data and Profit Forecast - Total revenue is expected to reach 4,461 million yuan in 2025, with a year-on-year growth rate of 9.7% [6] - The net profit attributable to the parent company is forecasted to be 703 million yuan in 2025, reflecting a significant year-on-year increase of 48.8% [6] - The gross margin is projected to improve to 31.0% in 2025, up from 25.2% in 2023 [6]

Core Viewpoint - The company reported a strong performance in the first half of 2025, with significant revenue and profit growth driven by the expanding chromium salt industry and strategic capacity expansion and acquisitions [1][3][4]. Group 1: Financial Performance - In the first half of 2025, the company achieved total revenue of 2.19 billion yuan, a year-on-year increase of 10.17%, and a net profit attributable to shareholders of 298 million yuan, up 23.62% year-on-year [1]. - For Q2 2025, the company recorded a single-quarter revenue of 1.17 billion yuan, reflecting a year-on-year growth of 12.52% and a quarter-on-quarter increase of 14.71%. The net profit for Q2 was 181 million yuan, up 16.12% year-on-year and 53.82% quarter-on-quarter [1]. - The company’s three main product segments saw significant growth in production and sales, with heavy chromium salt production increasing by 46.46%, chromium oxide by 3.00%, and chromium salt co-production products decreasing by 7.23% [1]. Group 2: Cost and Cash Flow - The company maintained stable expenses, with sales, management, finance, and R&D expense ratios at 0.97%, 7.18%, 0.69%, and 4.00% respectively, showing slight year-on-year changes [2]. - The net cash flow from operating activities was 3.14 million yuan, a significant decrease from the previous year, primarily due to a 99.16% increase in cash expenses [2]. - Despite the limited cash flow from operations, the company ended the period with 237 million yuan in cash and cash equivalents, higher than previous years [2]. Group 3: Expansion and Strategic Initiatives - The company is advancing the construction of the Chongqing Minfeng "Chromium-Titanium New Materials Project," which will add 200,000 tons of chromium salt and other products upon completion [3]. - The company was designated as the sole restructuring investor for the Xinjiang Shenhong Group, which is expected to enhance its production capacity and product competitiveness [3]. - As the largest producer of chromium chemicals and vitamins globally, the company aims to increase its market share and pricing power through capacity expansion and acquisitions, thereby strengthening its competitive moat [3]. Group 4: Profit Forecast - The company forecasts net profits attributable to shareholders of 695 million yuan, 849 million yuan, and 998 million yuan for 2025, 2026, and 2027 respectively, with corresponding EPS of 0.98, 1.19, and 1.40 yuan [4]. - The current stock price corresponds to PE ratios of 19.1, 15.7, and 13.3 for the years 2025, 2026, and 2027, respectively, indicating a "buy" investment rating [4].

Investment Rating - The report maintains a "Buy" investment rating for the company [7] Core Views - The company has experienced significant revenue growth driven by the expansion of the chromium salt industry, with a 10.17% year-on-year increase in total revenue to 2.19 billion yuan in the first half of 2025 [1] - The company is benefiting from a favorable market environment characterized by demand expansion and orderly supply, particularly in new application areas such as gas turbines and military industries [1] - The company is actively expanding its production capacity and pursuing acquisitions to strengthen its market position and enhance its competitive edge [6] Summary by Sections Financial Performance - In the first half of 2025, the company achieved a net profit of 298 million yuan, representing a year-on-year increase of 23.62% [1] - For Q2 2025, the company reported a revenue of 1.17 billion yuan, up 12.52% year-on-year and 14.71% quarter-on-quarter [1] - The average selling prices for key products showed mixed trends, with heavy chromium salt at 9,887.96 yuan per ton, chromium oxide at 20,738.79 yuan per ton, and chromium salt co-production products at 11,055.19 yuan per ton [1] Cost and Cash Flow - The company's expense ratios for sales, management, finance, and R&D were 0.97%, 7.18%, 0.69%, and 4.00%, respectively, with R&D expenses increasing due to higher costs of materials and fuel [2] - The net cash flow from operating activities was 3.14 million yuan, significantly lower than the previous year, primarily due to a 99.16% increase in cash expenses [2] Capacity Expansion and M&A - The company is advancing the construction of a new chromium-titanium materials project in Chongqing, which will add significant production capacity across various products [6] - The company has been designated as the sole investor in the restructuring of Xinjiang Shenhong Group, which is expected to enhance its production capacity and product competitiveness [6] Profit Forecast - The company is projected to achieve net profits of 695 million yuan, 849 million yuan, and 998 million yuan for 2025, 2026, and 2027, respectively, with corresponding EPS of 0.98 yuan, 1.19 yuan, and 1.40 yuan [7][9]

报 告 摘 要 乘势而起：市场新高趋势追踪 触及新高的个股、行业和板块可被视为市场的风向标。越来越多的研究表明动量、趋势跟踪策略的有效性。本报告旨在定期跟踪市场中创新高的个股及其 分布，以追踪市场趋势、把握市场热点。 截至2025年8月22日，上证指数、深证成指、沪深300、中证500、中证1000、中证2000、创业板指、科创50指数250日新高距离分别为0.00%、 0.00%、0.00%、0.00%、0.00%、0.06%、0.00%、0.00%。中信一级行业指数中家电、国防军工、综合、传媒、计算机行业指数距离250日新高较 近，食品饮料、煤炭、房地产、银行、消费者服务行业指数距离250日新高较远。概念指数中，数字货币、万得风电、航天军工、汽车零部件、金属非金 属、汽车、家用电器等概念指数距离250日新高较近。 见微知著：利用创新高个股进行市场监测 截至2025年8月22日，共1606只股票在过去20个交易日间创出250日新高。其中创新高个股数量最多的是机械、医药、电子行业，创新高个股数量占比最 高的是国防军工、有色金属、医药行业。按照板块分布来看，本周制造、科技板块创新高股票数量最多；按照指数分布来看 ...