New Stock Issuance - New stock for Beikang Testing (920160) issued at a price of 6.70 on November 3, 2025[1] - New stock for Danna Biology (920009) issued at a price of 17.10 on November 3, 2025[1] Market Alerts - ST Zhongdi (000609) announced significant abnormal fluctuations on October 30, 2025[1] - Jiangbolong (301308) reported severe abnormal fluctuations on October 30, 2025[1] - Xiangnan Chip (300475) disclosed abnormal fluctuations on October 24, 2025[1] - Shangtai Technology (001301) announced abnormal fluctuations on November 3, 2025[1] - Hainan Development (002163) reported abnormal fluctuations on November 3, 2025[1] - Zhongrui Co., Ltd. (002374) disclosed abnormal fluctuations on November 3, 2025[1] - Fujian Jinsen (002679) announced abnormal fluctuations on November 3, 2025[1] - Yongxing Materials (002756) reported abnormal fluctuations on November 3, 2025[1] - Xinhongze (002836) disclosed abnormal fluctuations on November 3, 2025[1] - Guocheng Mining (000688) announced abnormal fluctuations on November 3, 2025[1]

Core Insights - The chemical raw materials sector experienced a rise of 0.82% on November 3, with Deer Chemical leading the gains [1] - The Shanghai Composite Index closed at 3976.52, up 0.55%, while the Shenzhen Component Index closed at 13404.06, up 0.19% [1] Stock Performance - Deer Chemical (920304) saw a closing price of 16.06, with a significant increase of 20.75% and a trading volume of 259,500 shares, amounting to a transaction value of 408 million yuan [1] - Huatai (001217) closed at 14.22, up 7.24%, with a trading volume of 264,800 shares [1] - Other notable performers included Shanshui Technology (301190) with a 6.06% increase, closing at 26.78, and Zhenhua Co. (603067) with a 5.41% increase, closing at 25.51 [1] Fund Flow Analysis - The chemical raw materials sector experienced a net outflow of 237 million yuan from institutional investors, while retail investors saw a net inflow of 236 million yuan [2] - The main stocks with significant fund flow included Baofeng Energy (600989) with a net inflow of 89.53 million yuan from institutional investors [3] - Other stocks like Tianyuan Co. (002386) and Zhenhua Co. (603067) also had notable net inflows from institutional investors, indicating varying levels of investor interest [3]

Core Insights - As of October 31, a total of 129 stocks in the Shanghai and Shenzhen markets have experienced net financing inflows for five consecutive days or more [1] - The stock with the longest consecutive net inflow is CITIC Bo, which has seen net buying for 14 trading days [1] - Other notable stocks with significant consecutive net inflows include Daimai Co., Weichuang Electric, Foster, Zhenhua Technology, Honghua Digital, Aosaikang, Dongcheng Pharmaceutical, and Huace Navigation [1]

Investment Rating - The report maintains a "Recommended" rating for the chemical industry [1] Core Views - The chemical industry is expected to experience a recovery in demand, driven by government policies aimed at stabilizing growth and transforming the industry [4][5] - The demand for chromium salts is anticipated to rise significantly due to increased orders for gas turbines and commercial aircraft engines in Europe and the US, leading to a projected supply gap by 2028 [8] - The report highlights the potential for high dividend yields and improved cash flow for leading companies in the chemical sector as capacity expansion slows down globally [4] Summary by Sections Industry Performance - The basic chemical sector has shown a performance increase of 23.0% over the past 12 months, outperforming the CSI 300 index [2] Government Initiatives - A joint announcement from seven government departments outlines a plan for stable growth in the petrochemical industry, targeting an average annual growth of over 5% in value-added output from 2025 to 2026 [5] Market Dynamics - The price of chromium salts is on the rise, with significant increases noted in the prices of chromium metal and chromium oxide in October 2025 [8][18] - The report indicates that the chemical industry is transitioning from a "cash-consuming" phase to a "cash-generating" phase, with a focus on high-quality development and innovation [4][5] Investment Opportunities - Key investment opportunities identified include low-cost expansion in leading companies, improving market conditions for chromium salts, and high dividend yields from state-owned enterprises [9][10][11]

Investment Rating - The report maintains an "Outperform" rating for the company [2] Core Views - The company's performance in Q3 2025 showed a revenue of 1.027 billion yuan, a year-on-year increase of 2.13%, but a quarter-on-quarter decrease of 12.17%. The net profit for Q3 was 112 million yuan, down 9.15% year-on-year and 38.17% quarter-on-quarter. Overall performance met expectations [7] - The company is positioned as the sole investor in the restructuring of Xinjiang Shenhong Group, which is expected to optimize the industry landscape. The company plans to invest 200 million yuan to acquire 100% equity of the target company [7] - The company’s subsidiary project in Chongqing is expected to contribute significantly to future growth, with new production capacity for various products set to come online by 2027 [7] Financial Data and Profit Forecast - The company is projected to achieve net profits of 703 million yuan, 857 million yuan, and 1.010 billion yuan for the years 2025, 2026, and 2027 respectively, with corresponding PE ratios of 24X, 20X, and 17X [6][7] - Total revenue is expected to grow from 4.461 billion yuan in 2025 to 5.051 billion yuan in 2027, with a compound annual growth rate of approximately 9.7% [6][9] - The gross margin is forecasted to improve from 31.0% in 2025 to 31.3% in 2027, indicating a positive trend in profitability [6]

Core Viewpoint - Zhuhai Co., Ltd. announced that its stock price experienced an abnormal fluctuation, with a cumulative increase of over 20% in closing prices over three consecutive trading days from October 28 to October 30, 2025 [1] Summary by Relevant Sections - **Stock Performance** - The stock price of Zhuhai Co., Ltd. showed a cumulative increase of over 20% during the trading days of October 28, 29, and 30, 2025, indicating significant market activity [1] - **Company Disclosure** - Following a self-examination and written inquiry to its controlling shareholder and actual controller, the company confirmed that, apart from already disclosed matters, there are no significant undisclosed events as of the date of this announcement [1]

Summary of Key Points Core Viewpoint - On October 30, a total of 45 stocks were involved in institutional trading, with 18 stocks showing net buying by institutions and 27 stocks showing net selling [1] Institutional Buying - The top three stocks with the highest net buying by institutions were: - Aters: Net buying amount of 277 million [1] - Zhenhua Co., Ltd.: Net buying amount of 149 million [1] - Penghui Energy: Net buying amount of 77.78 million [1] Institutional Selling - The top three stocks with the highest net selling by institutions were: - Guodun Quantum: Net outflow amount of 388 million [1] - Keda Guokai: Net outflow amount of 359 million [1] - Dawi Co., Ltd.: Net outflow amount of 141 million [1]

Core Insights - On October 30, a total of 45 stocks were involved with institutional investors, with 18 showing net buying and 27 showing net selling [1] - The top three stocks with net buying by institutions were: - Arctech (阿特斯) with a net buying amount of 277.30 million yuan, up 9.50% - Zhenhua (振华股份) with a net buying amount of 148.85 million yuan, up 10.00% - Penghui Energy (鹏辉能源) with a net buying amount of 77.78 million yuan, up 20.00% [2] - The top three stocks with net selling by institutions were: - Guodun Quantum (国盾量子) with a net outflow of 388.27 million yuan, down 17.22% - Keda Guokai (科大国创) with a net outflow of 358.81 million yuan, down 9.64% - Dawi Co. (大为股份) with a net outflow of 140.98 million yuan, up 1.01% [4] Institutional Buying Summary - The stocks with significant institutional net buying included: - Arctech: 277.30 million yuan - Zhenhua: 148.85 million yuan - Penghui Energy: 77.78 million yuan - Fuxin Software (福昕软件): 76.23 million yuan, up 15.69% - Tongrun Equipment (通润装备): 65.11 million yuan, up 9.98% [2] Institutional Selling Summary - The stocks with significant institutional net selling included: - Guodun Quantum: 388.27 million yuan - Keda Guokai: 358.81 million yuan - Dawi Co.: 140.98 million yuan - Other notable sell-offs included: - Shenkai Technology (神开股份): 22.39 million yuan, down 6.33% - DeLong Energy (德龙汇能): 38.15 million yuan, up 10.02% [3][4]

| 证券代码：603067 | 证券简称：振华股份 | 公告编号：2025-049 | | --- | --- | --- | | 债券代码：113687 | 债券简称：振华转债 | | 湖北振华化学股份有限公司 股票交易异常波动公告 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。 重要内容提示： 湖北振华化学股份有限公司（以下简称"公司"）股票于 2025 年 10 月 28 日、10 月 29 日、10 月 30 日连续三个交易日内收盘价格涨幅偏离值累计超过 20%，属于股票交易异常波动。 限于并购重组、股份发行、债务重组、业务重组、资产剥离和资产注入等重大事 项。 （三）媒体报道、市场传闻、热点概念情况 经公司自查，并书面征询控股股东及实际控制人，本公告披露日，除公 司已披露事项外，不存在应披露而未披露的重大事项。 敬请广大投资者注意二级市场交易风险，审慎决策，理性投资。 一、股票交易异常波动的具体情况 公司股票交易于 2025 年 10 月 28 日、10 月 29 日、10 月 30 日连续三个交易 日内收盘价 ...

Core Insights - The titanium dioxide sector experienced a 0.73% increase, ranking fifth among concept sectors, with five stocks rising, including Zhenhua Co., which hit the daily limit, and Guocheng Mining, Tianyuan Co., and Jinpu Titanium, which rose by 8.45%, 6.23%, and 3.36% respectively [1] Group 1: Market Performance - The titanium dioxide concept saw a net inflow of 90 million yuan from main funds, with Tianyuan Co. leading the inflow at 86.26 million yuan, followed by Zhenhua Co., Guocheng Mining, and Jinpu Titanium with inflows of 76.28 million yuan, 46.07 million yuan, and 13.72 million yuan respectively [2][3] - The top stocks by net inflow ratio included Tianyuan Co. at 8.61%, Guocheng Mining at 5.65%, and Jinpu Titanium at 5.44% [3] Group 2: Stock Performance - Zhenhua Co. recorded a 10% increase, while Guocheng Mining and Tianyuan Co. rose by 8.45% and 6.23% respectively [1][3] - The stocks with the largest declines included Daon Co. at -9.32%, followed by Titan Chemical at -1.93% and Huiyun Titanium at -1.84% [1][4]