东 兴 晨 报 东兴晨报 P1 经济要闻 2026 年 2 月 26 日星期四 本期编辑 | 分析师：林瑾璐 | | | --- | --- | | 021-25102905 | linjl@dxzq.net.cn | | 执业证书编号： | S1480519070002 | 东兴证券研究所金股推荐 | 证券代码 | 证券简称 | | --- | --- | | 002392.SZ | 北京利尔 | | 002991.SZ | 甘源食品 | | 300619.SZ | 金银河 | | 300627.SZ | 华测导航 | | 300666.SZ | 江丰电子 | | 300810.SZ | 中科海讯 | | 603209.SH | 兴通股份 | | 603239.SH | 浙江仙通 | | 688095.SH | 福昕软件 | | 688627.SH | 精智达 | 数据来源：《二月金股汇》 2026 年 02 月 02 日，东兴证券研究所 有 限 公 敬请参阅报告结尾处的免责声明 东方财智 兴盛之源 东 兴 证 券 股 份 司 1. 中国人民银行：2 月 26 日公告称，以固定利率、数量招标方式开展 了 3 ...

Core Insights - The report highlights the strategic initiatives of the company to expand its product lines in the refractory materials sector and emerging technologies, particularly through a planned capital increase of up to 1.034 billion RMB for new projects and overseas expansion [6][11]. Company Developments - Changxin Bochuang signed a letter of intent to acquire 93.81% of Shanghai Honghui Light Communication Technology Co., Ltd. for approximately 375 million RMB, aiming to enhance its product line in the optical communication field [5]. - Tongwei Co., Ltd. is planning to acquire 100% of Qinghai Lihua Qingneng Co., Ltd. through a combination of share issuance and cash payment, with the transaction expected to not alter the control of the company [5]. - Yutong Optical received acceptance from the Shenzhen Stock Exchange for its application to issue shares to specific investors, pending further approvals [5]. - Maoyan Entertainment forecasts a revenue of up to 4.7 billion RMB for the fiscal year 2025, representing a growth of approximately 15.1% compared to 2024 [5]. - Conch Cement's major shareholder plans to increase its stake in the company by investing between 700 million and 1.4 billion RMB within six months [5]. Industry Insights - The report emphasizes the resilience of small and medium-sized enterprises (SMEs) in China's industrial economy, with a 6.9% year-on-year increase in value added for SMEs in 2025, outperforming the overall industrial growth rate by 1.0 percentage points [2]. - The construction of a new production line for zirconia and zircon-based materials is expected to yield a post-tax internal rate of return of 29.35% and a payback period of 4.89 years, indicating strong potential for profitability [7][8]. - The establishment of a production base in Vietnam is part of the company's strategy to enhance its overseas operations, targeting the growing demand in Southeast Asia, particularly in Vietnam [9].

Core Insights - The report highlights the structural expansion of the rubidium and cesium market driven by the increasing penetration of perovskite solar cells and the development of space photovoltaics [7][12][13] Industry Overview - Perovskite solar cells (PSCs) are identified as a new type of solar cell with advantages such as low cost, high efficiency, lightweight, and flexibility compared to traditional silicon cells [7] - The report predicts that the penetration rate of perovskite solar cells in the photovoltaic market will rise significantly, from 1.3% in 2025 to 30% by 2030, driven by their cost-effectiveness and efficiency [9][12] Market Dynamics - The demand for rubidium and cesium is expected to grow substantially, with a projected CAGR of 115% from 2025 to 2030, as the perovskite battery market expands [12][16] - The report estimates that global demand for rubidium will increase from 37 tons in 2025 to 1696 tons by 2030, correlating with the anticipated growth in perovskite solar cell production [12][16] Technological Advancements - The stability of perovskite solar cells is a key challenge, but the addition of rubidium and cesium is expected to enhance their performance and longevity [8] - Flexible perovskite solar cells are anticipated to find applications in various fields, including building-integrated photovoltaics (BIPV), wearable devices, and automotive power generation [10][11] Future Outlook - The report suggests that the period from 2026 to 2027 will be crucial for the industrialization and validation of perovskite solar cells, with significant advancements expected in their application in space photovoltaics [13][14] - The integration of perovskite solar cells in space applications is projected to drive demand for rubidium significantly, with estimates indicating a potential need for 220 tons by 2030 due to space solar power initiatives [15][16]

Core Viewpoint - The A-share shipping sector experienced a collective decline, with several major companies seeing significant drops in their stock prices, indicating a bearish trend in the industry [1]. Group 1: Company Performance - China COSCO Shipping Energy Transportation Co., Ltd. (中远海能) saw a decline of 7.74%, with a total market capitalization of 94.4 billion [2]. - China Merchants Energy Shipping Co., Ltd. (招商轮船) dropped by 7.19%, with a market cap of 99.1 billion [2]. - China Merchants South China Sea Oil Transportation Co., Ltd. (招商南油) fell by 6.48%, with a market value of 16.9 billion [2]. - Jinjiang Shipping Co., Ltd. (锦江航运) decreased by 3.17%, with a market capitalization of 15 billion [2]. - China COSCO Shipping Specialized Carriers Co., Ltd. (中远海特) declined by 2.96%, with a market cap of 21.6 billion [2]. - HNA Technology Co., Ltd. (海航科技) dropped by 2.54%, with a market value of 12.2 billion [2]. - Air China Ocean Shipping Co., Ltd. (国航远洋) fell by 2.48%, with a market capitalization of 5.026 billion [2]. - China COSCO Shipping Development Co., Ltd. (中远海发) decreased by 2.22%, with a market cap of 34.8 billion [2]. - Ningbo Ocean Shipping Co., Ltd. (宁波远洋) saw a decline of 2.08%, with a market value of 12.3 billion [2]. Group 2: Year-to-Date Performance - Year-to-date, China COSCO Shipping Energy Transportation Co., Ltd. has increased by 47.95% [2]. - China Merchants Energy Shipping Co., Ltd. has seen a year-to-date increase of 36.64% [2]. - China Merchants South China Sea Oil Transportation Co., Ltd. has a year-to-date increase of 19.54% [2]. - Jinjiang Shipping Co., Ltd. has a modest year-to-date increase of 3.94% [2]. - China COSCO Shipping Specialized Carriers Co., Ltd. has increased by 10.85% year-to-date [2]. - HNA Technology Co., Ltd. has a year-to-date increase of 10.18% [2]. - Air China Ocean Shipping Co., Ltd. has a year-to-date decrease of 8.03% [2]. - China COSCO Shipping Development Co., Ltd. has a year-to-date increase of 4.76% [2]. - Ningbo Ocean Shipping Co., Ltd. has a year-to-date increase of 2.84% [2].

Group 1 - The core viewpoint of the articles revolves around the impact of rising international oil shipping prices on the chemical transportation market, potentially tightening supply and improving industry demand-supply dynamics [1] - The company anticipates that the continued increase in international oil shipping prices may attract "swing capacity" that can transport both refined oil and chemicals back to the oil shipping market, thereby constraining the supply of chemical transportation [1] - International chemical shipping rates have shown signs of stabilizing on a month-on-month basis, while domestic shipping rates remain overall stable [1] Group 2 - From February 6 to February 12, 2026, the stock price of the company increased by 2.06%, with a fluctuation of 5.39% [2] - The latest closing price on February 12 was 15.89 yuan, with a daily change of 0.38% and a transaction amount of 127 million yuan [2] - The stock price exhibited an overall upward trend, aligning closely with the performance of the shipping and port sector [2]

Core Viewpoint - The company emphasizes that its stock price is influenced by multiple factors including macroeconomic conditions, industry cycles, and market capital flows [1] Group 1: Company Actions and Strategies - The company is committed to value management and protecting the legal rights of all shareholders [1] - The company plans to continue focusing on its core business, enhancing its competitive edge, and optimizing investor return mechanisms [1] - The company will strengthen communication with the capital market to maintain its value in a compliant manner [1] Group 2: Official Communications - The company states that all significant matters will be based on official announcements [1]

Core Viewpoint - The international oil and chemical transportation sectors are experiencing indirect transmission effects, with rising oil transportation prices attracting "swing capacity" back to the oil transport market, thereby tightening the effective supply in the chemical transportation market and improving industry supply-demand dynamics [2] Group 1: International Chemical Transportation - According to Clarksons' latest data, international chemical freight rates have shown signs of stabilizing and stopping the decline as of early 2026 [2] - Factors such as geopolitical fluctuations in the Middle East and increased international trade compliance requirements (e.g., sanctions on "shadow fleets") are expected to positively impact the chemical shipping market [2] Group 2: Domestic Chemical Transportation - Recently, domestic hazardous chemical shipping rates have remained stable, with some routes adjusting reasonably according to market demand [2] - The company aims to continue focusing on the core sector of hazardous chemical shipping, seizing industry development opportunities, and steadily optimizing route layouts to ensure stable operational development [2]

关于完成工商变更登记并换发营业执照的公告 证券代码：603209 证券简称：兴通股份 公告编号：2026-008 兴通海运股份有限公司 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。 兴通海运股份有限公司（以下简称"公司"）于 2025 年 12 月 26 日召开第 二届董事会第三十二次会议，2026 年 1 月 12 日召开 2026 年第一次临时股东会， 审议通过《兴通海运股份有限公司关于修订<公司章程>和相关制度暨办理工商 变更登记的议案》，同意对《兴通海运股份有限公司章程》（以下简称"《公司 章程》"）相应条款进行修改，股东会授权公司董事会及董事会委派专人办理工 商登记、章程备案等事宜。具体内容详见公司于 2025 年 12 月 27 日、2026 年 1 月 13 日在指定信息披露媒体及上海证券交易所网站（http://www.sse.com.cn）披 露的《兴通海运股份有限公司关于修订<公司章程>和相关制度暨办理工商变更 登记的公告》《兴通海运股份有限公司 2026 年第一次临时股东会决议公告》。 2026 年 1 ...

Core Viewpoint - The decline in coastal bulk liquid chemical freight rates by 2025 is attributed to a combination of macroeconomic conditions and industry capacity adjustments, influenced by supply-demand changes and market competition [2] Company Strategy - The company is expanding its capacity based on two main considerations: first, the current downturn in industry prosperity is accelerating the exit of small to medium capacities, and as an industry leader, the new capacity will help capture market share and strengthen its leading position while enhancing customer service capabilities and core competitiveness [2] - Second, the company aims to seize opportunities from the aging global chemical shipping fleet, the transition to green and low-carbon intelligent vessels, and the export of domestic chemical products, positioning itself for the development of high-end green vessels in the global chemical shipping business to build long-term competitive advantages [2] Industry Outlook - Since the third quarter of 2025, with the implementation of counter-cyclical adjustment policies by the state, the refining industry's prosperity is gradually improving [2] - An increase in upstream chemical prices typically boosts industry prosperity, which in turn raises transportation demand, positively impacting the recovery of freight rates for the company [2]

证券日报网讯 1月23日，兴通股份发布公告称，2026年1月23日，公司与中国进出口银行福建省分行 （简称"福建口行"）签订了保证合同，就公司全资子公司兴通海马航运有限公司向福建口行申请的人民 币21，500.00万元整（贰亿壹仟伍佰万元整）固定资产借款提供连带责任担保。 （编辑 任世碧） ...