Group 1 - The core viewpoint of the news is that Zhuhua Co., Ltd. has experienced a significant stock price increase, with a 19.08% rise over the past four days, reaching a price of 38.00 yuan per share and a market capitalization of 270.09 billion yuan [1] - Zhuhua Co., Ltd. is primarily engaged in the research, manufacturing, and sales of chromium salt products, with its main business revenue composition being 114.86% from inorganic salt-related industries, 3.09% from logistics, and 1.82% from other sources [1] - The stock has seen a trading volume of 16.58 billion yuan and a turnover rate of 6.17% during the reporting period [1] Group 2 - From the perspective of fund holdings, Guotai Fund has a significant position in Zhuhua Co., Ltd., with its Guotai CSI 2000 ETF increasing its holdings by 3,100 shares to a total of 4,920 shares, representing 0.28% of the fund's net value [2] - The Guotai CSI 2000 ETF has achieved a year-to-date return of 7.23% and a one-year return of 58.68%, ranking 1633 out of 5520 and 996 out of 4203 respectively [2] - The fund was established on September 13, 2023, with a current scale of 32.4956 million yuan [2]

湖北振华化学股份有限公司 2026 年第一次临时股东会会议资料 振华股份 2026 年 1 月 20 日 湖北振华化学股份有限公司 2026 年第一次临时股东会会议须知 为维护全体股东的合法权益，确保公司股东会顺利召开，根据中国证券监督 管理委员会《上市公司股东会规则》及《公司章程》等有关规定，特制定股东会 须知，望出席股东会的全体人员遵守执行。 一、本公司根据《公司法》《证券法》《上市公司股东会规则》及《公司章 程》等有关规定，认真做好召开股东会的各项工作。 二、本公司证券部，具体负责大会有关程序方面的事宜。 三、为保证本次大会的严肃性和正常秩序，切实维护股东的合法权益，务请 出席大会的股东或股东代理人（以下统称"股东"）及相关人员准时到达会场签 到确认参会资格。不在签到薄上登记签到，或会议正式开始后没有统计在会议公 布股权数之内的股东，可以参加会议，但不参加表决、质询和发言。 四、股东参加股东会，依法享有发言权、质询权、表决权等各项权利，并认 真履行其法定义务，不得侵犯其他股东的合法权益，不得扰乱大会的正常秩序。 五、股东有权就大会议案提出问题，主持人视会议具体情况安排股东发言。 股东发言应围绕本次大会所 ...

Investment Rating - The report maintains a "Recommended" rating for the chemical industry [1] Core Insights - The chemical industry is expected to experience an upward cycle due to the implementation of "anti-involution" policies in China and the accelerated exit of some European facilities [29] - The report highlights the potential for domestic substitution of semiconductor materials from Japan due to rising geopolitical tensions, which could benefit various companies in the sector [5] - The chromium salt industry is undergoing a value reassessment driven by increased demand from AI data centers and commercial aircraft engines, with a projected supply-demand gap of 340,900 tons by 2028 [8] Summary by Sections Industry Performance - The chemical industry has shown strong relative performance with a 1-month increase of 10.7%, 3-month increase of 9.6%, and a 12-month increase of 45.1%, outperforming the CSI 300 index [3] Price Trends - Key products such as lithium carbonate and polysilicon have seen significant price increases, supported by policy guidance and industry self-discipline [12] - The price of chromium salts has remained stable, with metal chromium priced at 82,000 CNY/ton as of January 9, 2026 [15] Investment Opportunities - Focus on companies with low-cost expansion capabilities, such as Wanhu Chemical and Hualu Hengsheng, as well as those in sectors with improving market conditions like chromium salts and phosphates [6][9] - High dividend yield opportunities are identified in state-owned enterprises like China Petroleum and China National Chemical [10] Key Company Tracking - Companies such as Dongfang Shenghong and Huabei Yihua are highlighted for their earnings potential, with projected EPS growth for 2026 [30] - The report tracks specific price movements for various chemicals, including a notable increase in the price of ammonium phosphate and a stable price for urea [17][19]

Group 1 - Recent significant price increases in various minor metals, with tungsten showing the most notable rise. As of January 9, black tungsten concentrate (≥65%) is priced at 485,000 yuan/ton, a week-on-week increase of 5.4%. Ammonium paratungstate (APT) is priced at 710,000 yuan/ton, up 6.0% week-on-week; tungsten powder is priced at 1,130 yuan/kg, up 6.5% week-on-week, all reaching historical highs [1] - According to Shenwan Hongyuan Research, the minor metals sector is expected to see positive changes by 2026, driven by high growth in energy storage demand, which will accelerate the reversal cycle in the lithium carbonate industry. In the context of de-globalization, the value of strategic minor metals such as rare earths, tungsten, and antimony will continue to be reassessed [1] - The reshaping of the global credit landscape and the continuation of the Federal Reserve's interest rate cut cycle will jointly support the favorable trend of precious and minor metals [1] Group 2 - On January 9, the A-share market experienced a strong rally, with the Shanghai Composite Index breaking through 4,100 points. The total trading volume reached 3.12 trillion yuan, marking the sixth historical instance of surpassing 3 trillion yuan in trading volume [3] - The minor metals concept continues to strengthen, with several stocks such as Hailiang Co., Yunnan Tin Company, Antai Technology, Xiamen Tungsten, and Zhenhua Co. hitting the daily limit. Other stocks like Zhangyuan Tungsten, Tin Industry Co., Huaxi Nonferrous, Chihong Zinc & Germanium, and China Uranium Industry also saw price increases [3]

证券之星消息，1月9日化学原料板块较上一交易日上涨0.02%，三孚股份领涨。当日上证指数报收于 4120.43，上涨0.92%。深证成指报收于14120.15，上涨1.15%。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入1.08亿元，游资资金净流入8017.57万元，散户资 金净流出1.89亿元。化学原料板块个股资金流向见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 600935 | 华盟股份 | 2.67 | -2.91% | 125.38万 | 3.39亿 | | 600989 | 宝丰能源 | 19.83 | -2.03% | 75.16万 | 14.98亿 | | 000822 | 山东海化 | 5.53 | -1.78% | 17.05万 | 9445.86万 | | 002648 | 卫星化学 | 18.52 | -1.59% | 51.43万 | 9.56亿 | | 663299 | 示盐井神 | 10.90 | -1.45% | 9.8 ...

两融数据显示，该股最新（1月8日）两融余额为8.04亿元，其中，融资余额为8.03亿元，近10日增加 9223.36万元，环比增长12.97%。 公司发布的三季报数据显示，前三季度公司共实现营业收入32.17亿元，同比增长7.47%，实现净利润 4.10亿元，同比增长12.56%，基本每股收益为0.5800元，加权平均净资产收益率12.29%。（数据宝） （文章来源：证券时报网） 振华股份股价创出历史新高，截至9:34，该股上涨10.00%，股价报35.10元，成交量1097.98万股，成交 金额3.77亿元，换手率1.54%，该股最新A股总市值达249.48亿元，该股A股流通市值249.48亿元。 证券时报·数据宝统计显示，振华股份所属的基础化工行业，目前整体涨幅为0.03%，行业内，目前股价 上涨的有184只，涨停的有振华股份、*ST亚太等3只。股价下跌的有224只，跌幅居前的有和远气体、 农心科技、利通科技等，跌幅分别为7.05%、6.76%、4.67%。 ...

Group 1 - The core viewpoint of the news is that Zhuhai Co., Ltd. has seen a significant increase in its stock price, rising by 6.02% to 33.83 CNY per share, with a trading volume of 1.25 billion CNY and a turnover rate of 0.52%, resulting in a total market capitalization of 24.045 billion CNY [1] - Zhuhai Co., Ltd. is located in Huangshi City, Hubei Province, and was established on June 19, 2003, with its listing date on September 13, 2016. The company specializes in the research, manufacturing, and sales of chromium salt products, as well as the comprehensive utilization of chromium salt by-products and other solid waste [1] - The main business revenue composition of Zhuhai Co., Ltd. includes 114.86% from the inorganic salt-related industry, 3.09% from logistics and transportation, and 1.82% from other sources [1] Group 2 - From the perspective of fund holdings, one fund under Qianhai Kaiyuan has Zhuhai Co., Ltd. as a significant holding. The Qianhai Kaiyuan Yuru Mixed A Fund (004680) reduced its holdings by 14,200 shares in the third quarter, holding 400 shares, which accounts for 0.04% of the fund's net value, ranking it as the eighth largest holding [2] - The Qianhai Kaiyuan Yuru Mixed A Fund (004680) was established on September 5, 2017, with a latest scale of 16.2837 million CNY. The fund has experienced a loss of 0.36% this year, ranking 8710 out of 8827 in its category, while achieving a return of 5.05% over the past year, ranking 7138 out of 8084 [2]

Summary of Zhihua Co., Ltd. Conference Call Company Overview - **Company**: Zhihua Co., Ltd. - **Industry**: Chromium salt production Key Points Investment and Expansion Plans - Zhihua Co. plans to invest **30 billion CNY** in a new chromium salt base in Chongqing, aiming to become the world's largest single chromium salt plant, enhancing device advancement and optimizing product structure [2][3] - The new base will include a sulfuric acid project that utilizes liquid sulfur to produce sulfuric acid, generating steam as a byproduct, which will lower production costs and improve economic efficiency through cogeneration [2][4] - The company has a unique process for producing chromium oxide green from sodium dichromate waste, expected to yield **74,000 tons** annually, maximizing resource utilization and enhancing economic benefits [2][7] Production Capacity and Market Dynamics - The design capacity for sodium dichromate at the Chongqing base is **200,000 tons**, which is crucial for downstream compound production and accounts for **70%-80%** of production costs [3] - The company anticipates a **33,000 tons** production and sales volume for sodium dichromate in 2026, with a projected doubling of elemental chromium production compared to the previous year [3][21] - Current production capacity is approximately **2,000 tons** of elemental chromium per month, but there are challenges in delivery due to inventory and raw material requirements [3][15] Pricing Strategy - The company adjusts product prices based on market fundamentals, with rapid price decreases and slower increases. As of December, most compound prices have met expectations, but metal chromium prices have not yet reached anticipated levels due to social inventory and low-price orders [2][12][13] Market Conditions - The chemical market has shown no significant changes recently, with high operating rates and tight supply due to new demand. However, the market remains somewhat chaotic, requiring further observation for clarity [11][14] - Social inventory is currently around **60%-70%** of normal monthly levels, indicating a tight supply situation [15] Unique Technological Advantages - Zhihua Co. possesses a unique process for producing high-purity chromium oxide green, which is not patented to maintain its competitive edge. This process has been successfully applied for over two years [7][8] - The sulfuric acid facility is critical for the new base, producing significant amounts of steam necessary for initial product preparation, thus reducing costs [5] Management and Strategic Direction - The company has undergone management changes, with a younger generation taking leadership roles, focusing on quality improvement and new energy product development [16] - The company emphasizes advanced processes and cost control as key competitive barriers, rather than regulatory restrictions [22][23] Future Outlook - The company plans to expand production of single chromium in the first half of 2026, which is expected to increase overseas raw material demand [24] - The outlook for the chromium oxide green export volume is optimistic, with expectations of significant increases due to rising global demand [24] Customer Base and Applications - Zhihua Co. has made inroads into the commercial aerospace sector, with clients involved in high-temperature alloy products for space applications [25] Financial Instruments - The company is considering extending the trading period for its convertible bonds to enhance trading opportunities and improve market recognition [26]

证券日报网讯 1月7日，振华股份发布公告称，同意聘任占园进先生为公司总经理。 （文章来源：证券日报） ...

证券日报网讯 1月7日，振华股份发布公告称，公司第五届董事会第十一次（临时）会议审议通过《关 于补选公司第五届董事会非独立董事的议案》等议案。 （文章来源：证券日报） ...