格隆汇9月22日丨苏盐井神(603299.SH)公布，增持主体基于对公司未来发展的信心以及对公司长期价值 的认可，计划自公告披露之日起6个月内，使用其自有资金或自筹资金，通过上海证券交易所交易系统 以集中竞价的方式增持公司股份。合计拟增持金额不低于人民币190万元（含）且不超过266万元 （含）。本次增持计划不设定价格区间，将根据公司股票价格波动情况及资本市场整体趋势，择机逐步 实施增持计划。 本次增持主体为公司董事长吴旭峰先生,副董事长肖立松先生,职工董事万泽湘先生,常务副总经理丁光旭 先生,副总经理张旭东先生、赵敏前先生、刘洋先生,总会计师许海军先生，总经理助理尚庆旺先生，董 事会秘书戴亮先生。增持主体在本次增持前所持股份均为2021年限制性股票激励计划所授予的股票。 ...

格隆汇9月22日丨苏盐井神(603299.SH)公布，增持主体基于对公司未来发展的信心以及对公司长期价值 的认可，计划自公告披露之日起6个月内，使用其自有资金或自筹资金，通过上海证券交易所交易系统 以集中竞价的方式增持公司股份。合计拟增持金额不低于人民币190万元（含）且不超过266万元 （含）。本次增持计划不设定价格区间，将根据公司股票价格波动情况及资本市场整体趋势，择机逐步 实施增持计划。 本次增持主体为公司董事长吴旭峰先生,副董事长肖立松先生,职工董事万泽湘先生,常务副总经理丁光旭 先生,副总经理张旭东先生、赵敏前先生、刘洋先生,总会计师许海军先生，总经理助理尚庆旺先生，董 事会秘书戴亮先生。增持主体在本次增持前所持股份均为2021年限制性股票激励计划所授予的股票。 ...

苏盐井神公告，董事长吴旭峰、副董事长肖立松等多位董事、高级管理人员计划自2025年9月23日起6个 月内，通过上海证券交易所集中竞价方式增持公司股份，合计增持金额不低于190万元且不超过266万 元，资金来源为自有或自筹资金，本次增持计划不设价格区间。 ...

Core Insights - The article highlights a trend of decreasing shareholder accounts among 803 companies, indicating a concentration of shares. Notably, 110 companies have seen a decline in shareholder accounts for more than three consecutive periods, with some like ST Huawen experiencing a drop for 12 periods, totaling a 14.42% decrease [1]. Group 1: Shareholder Account Trends - A total of 803 companies reported their latest shareholder account numbers as of September 10, with 110 companies showing a continuous decline for over three periods [1]. - ST Huawen has the highest decline, with 63,064 accounts, down 14.42% over 12 periods, while *ST Jinglun has 39,050 accounts, down 36.88% over 11 periods [1]. - Other companies with significant declines include Guotou Fengle, Su Yan Jingshen, and Dongfang Yuhong, indicating a broader trend of share concentration [1]. Group 2: Market Performance - Among the companies with declining shareholder accounts, 43 saw their stock prices increase, while 67 experienced declines. Notable gainers include Yanshang Yanshang, *ST Qingyan, and Dongfang Yuhong, with increases of 65.56%, 37.28%, and 31.03% respectively [2]. - 22 companies outperformed the Shanghai Composite Index, representing 20% of the declining shareholder accounts group, with Yanshang Yanshang, *ST Qingyan, and Lijure Neng showing relative returns of 57.48%, 28.43%, and 23.40% [2]. Group 3: Industry and Institutional Interest - The industries with the highest concentration of companies experiencing declining shareholder accounts include machinery equipment, basic chemicals, and pharmaceutical biology, with 21, 12, and 10 companies respectively [2]. - In terms of institutional interest, 17 companies with declining shareholder accounts were investigated by institutions in the past month, with Donggang Co., Dalian Heavy Industry, and Tengya Precision Engineering receiving the most attention [2].

Group 1 - The core viewpoint of the article highlights the growth in China's raw salt production, with a reported output of 5.1 million tons in July 2025, reflecting a year-on-year increase of 0.7% [1] - From January to July 2025, the cumulative production of raw salt in China reached 35.569 million tons, marking a cumulative growth of 2.8% [1] - The article references a report by Zhiyan Consulting, which provides insights into the supply and demand dynamics of the raw salt industry in China from 2025 to 2031, along with investment prospects [1] Group 2 - The listed companies in the raw salt industry include Su Yan Jingshen (603299), Zhongyan Chemical (600328), Xue Tian Salt Industry (600929), Shandong Haihua (000822), Sanyou Chemical (600409), and Yunnan Salt Chemical (002053) [1] - The data presented is sourced from the National Bureau of Statistics and organized by Zhiyan Consulting, indicating the reliability of the statistics [1] - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in in-depth industry research and providing comprehensive consulting services for investment decisions [1]

Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025, reflecting industry challenges, but demonstrated resilience through cost management and production increases [1][2]. Financial Performance - In H1 2025, the company achieved revenue of 2.36 billion yuan, a year-on-year decrease of 16.6% [1] - The net profit attributable to shareholders was 340 million yuan, down 28.5% year-on-year [1] - The adjusted net profit was 270 million yuan, a decline of 40.6% year-on-year [1] - In Q2 2025, revenue was 1.09 billion yuan, down 24.2% year-on-year and 14.0% quarter-on-quarter [1] - The net profit attributable to shareholders for Q2 was 180 million yuan, a year-on-year decrease of 28.2% but a quarter-on-quarter increase of 13.1% [1] - The adjusted net profit for Q2 was 120 million yuan, down 48.1% year-on-year and 14.3% quarter-on-quarter [1] Industry Context - The industry is facing pressure, with prices for salt and soda ash declining: H1 2025 saw salt prices drop by 12.8% and soda ash prices by 35.3% year-on-year [1] - The company managed to maintain relatively stable salt product prices compared to the East China market [1] - Production of salt and salt chemical products increased to 4.7232 million tons in H1 2025, a year-on-year increase of 6.78% [1] - The company benefited from lower procurement costs for raw materials, with average prices for coal, coke, and stone down by 17.3%, 24.3%, and 16.7% respectively [1] Competitive Advantages - The company is a leading player in the East China salt industry, leveraging its abundant high-quality salt resources and low-cost supply chain [2] - The underground gas storage project is expected to enhance profits, with the first phase already injecting 14,870 million cubic meters of gas [2] - The integration of salt cavern resources is progressing, with clear long-term performance returns anticipated [2] Profit Forecast - The company is projected to achieve net profits of 630 million yuan, 840 million yuan, and 1.05 billion yuan for 2025, 2026, and 2027 respectively, with year-on-year growth rates of -17.7%, +32.0%, and +25.6% [3] - The current stock price corresponds to P/E ratios of 13.7, 10.4, and 8.3 for the respective years [3] - The traditional business has cost advantages, and the development of gas storage and other integrated utilization methods is expected to open a second growth curve for the company [3]

Investment Rating - The report maintains a "Buy" investment rating for the company [1][9] Core Views - The company is focusing on the development of three major industries and is making steady progress on key projects [1][7] - Despite a decline in the sales prices of major products leading to a year-on-year profit decrease, the company continues to push forward with significant projects [5][9] - The company has slightly adjusted its profit forecast for 2025 due to the decline in product prices but remains optimistic about ongoing project developments [9] Summary by Sections Market Performance - The current stock price is 11.09 yuan, with a total market capitalization of 8.7 billion yuan and a total share capital of 782 million shares [1] Financial Performance - In the first half of 2025, the company achieved operating revenue of 2.358 billion yuan, a year-on-year decrease of 16.56%, and a net profit attributable to shareholders of 344 million yuan, down 28.51% year-on-year [4][5] - The average price of salt products decreased by 12.8%, while the average price of alkali products fell by 35.29% in the first half of 2025 [5] Research and Development - The company has seen an increase in R&D expenses, with the R&D expense ratio rising due to increased investment in research [6] Project Development - The company has made progress on 11 key projects, completing 58% of its annual investment plan in the first half of 2025 [7] - Significant projects include the completion of the Zhangxing gas storage project and the establishment of a helium storage project [7][8] Profit Forecast - The company’s net profit forecasts for 2025, 2026, and 2027 are 733 million yuan, 853 million yuan, and 1.014 billion yuan, respectively [9][11]

证券代码：603299 证券简称：苏盐井神 公告编号：2025-043 江苏苏盐井神股份有限公司 关于 2025年半年度业绩说明会召开情况的公告 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。 江苏苏盐井神股份有限公司（以下简称"公司"）于 2025 年 8 月 28日 9:00—10:00，通 过 上 海 证 券 交 易 所 上 证 路 演 中 心 （网 址 ： http://roadshow.sseinfo.com/）以网络文字互动的方式召开了2025 年半年度 业绩说明会。现将相关情况公告如下： 一、业绩说明会召开情况 公司于 2025 年 8 月 20 日披露了《关于召开2025年半年度业绩说明会 的公告》（公告编号：2025-039）。2025 年 8 月 28 日 9:00—10:00，公司 董事长吴旭峰先生、副董事长肖立松先生、常务副总经理丁光旭先生、总会计 师许海军先生、董事会秘书戴亮先生、独立董事都晓芳女士出席了本次业绩说 明会，与投资者进行互动交流和沟通，在信息披露允许的范围内就投资者普遍 关注的问题进行了 ...

Summary of Su Yan Jing Shen Conference Call Company Overview - Su Yan Jing Shen is actively advancing multiple energy storage projects, including collaborations with China National Petroleum Corporation (CNPC) and Jiangsu Guoxin, aiming to diversify energy storage methods and enhance overall profitability [2][3] Strategic Goals - The company aims to achieve a rock salt production capacity of 12 million tons, gas storage capacity of 5 billion cubic meters, operating revenue of 20 billion yuan, and tax revenue exceeding 3 billion yuan during the 14th Five-Year Plan period [2][3] Financial Performance - As of the first half of 2025, total assets were 9.99 billion yuan, net assets attributable to shareholders were 6.079 billion yuan, operating revenue was 2.358 billion yuan, and total profit was 415 million yuan, reflecting a year-on-year decline of 28% [2][3] - Earnings per share were 0.4404 yuan, down 28.86% year-on-year [5] Product Sales and Market Dynamics - Calcium chloride sales declined due to reduced domestic and international demand, with a 20% drop in sales volume [6] - The company is expanding into the liquid calcium market and developing new de-icing agents, with liquid calcium having a higher gross margin than solid calcium chloride [7][8] Project Updates - The Zhang Ying gas storage facility has commenced operations, with plans to inject 190 million cubic meters of base gas in 2025, of which 144 million cubic meters have been completed [12] - The project is expected to be completed by the end of the year, with a signed contract for 200 million cubic meters of working gas, anticipating over 100 million yuan in revenue and approximately 10 million yuan in profit [14] Future Projects and Capacity Expansion - The company plans to construct additional gas storage projects, including the Huai'an 10 billion cubic meter storage project and the Yanghuai mining area storage project, targeting a total capacity of 5 billion cubic meters by 2030 [4][22][23] - The Zhang Ying storage facility is strategically located in a high-demand area, with Jiangsu's natural gas consumption projected at 40 billion cubic meters in 2024 [4][17] Revenue and Cost Structure - The revenue model includes injection fees, extraction fees, and storage fees, with expected annual income from the working gas contract exceeding 100 million yuan [14] - The cost of natural gas storage is approximately 0.65 yuan per cubic meter, with downstream customers able to bear the pricing [26] Research and Development - R&D expenses are typically higher in the second quarter due to project initiation timelines, with overall annual R&D costs remaining stable [30] Investment and Returns - The investment in the compressed air energy storage project is expected to yield returns reflected in next year's financial statements, with projected annual equity investment returns of approximately 70 million yuan [31] Conclusion - Su Yan Jing Shen is positioned to enhance its market presence and profitability through strategic projects, diversification of product offerings, and a focus on innovative energy storage solutions, despite facing challenges in sales and profit margins.

Core Viewpoint - Su Yan Jingshen is facing market challenges but is implementing lean management and technological improvements to enhance efficiency and reduce costs, while also focusing on the development of new growth areas in the salt cavern comprehensive utilization industry. Financial Performance - In the first half of 2025, the company achieved total revenue of 2.358 billion yuan and a net profit of 344 million yuan, with basic earnings per share of 0.44 yuan [1] - The total profit decreased by 28.40% year-on-year to 416 million yuan, while the net cash flow from operating activities was 156 million yuan [1] - The total assets reached 9.990 billion yuan, with accounts receivable amounting to 328 million yuan [1] Cost Management and Efficiency - The company reduced maintenance costs by 31.96 million yuan and saved 1.59 million yuan in electricity costs through optimization of boiler desulfurization pump operations [1] - The average procurement prices for coal, coke, and stone decreased by 17.3%, 24.32%, and 16.73% respectively [1] - The cost per ton of products from the subsidiary Ruihong Salt Industry decreased by 27.41 yuan year-on-year [1] Strategic Development - Su Yan Jingshen is actively promoting the salt cavern comprehensive utilization industry, with significant mining rights in Huai'an, including the Yanghuai salt mine with over 3 billion tons of reserves [2] - The Zhangxing gas storage project has commenced production, with a cumulative injection of 34.35 million cubic meters of gas [2] - The company is collaborating with Jiangsu Guoxin to build a 600MW salt cavern compressed air energy storage project, expected to be operational by July 2025 [2] Innovation and R&D - The company is committed to technological innovation, with multiple provincial-level R&D platforms and ongoing applications for high-tech enterprise recognition and provincial key laboratory establishment [2] - New product developments include five types of refined rock salt and instant snowflake salt, along with several technological achievements [2] - The company has filed 13 patent applications and received 21 patents, focusing on key technologies for salt cavern hydrogen and helium storage [2] Future Outlook - Over the next 3 to 5 years, the company aims to become a new manufacturing and renewable energy enterprise, with a projected net profit exceeding 3 billion yuan [3] - Plans include increasing salt chemical product capacity to over 10 million tons and developing a gas storage capacity of 10 billion cubic meters [3] - The Zhangxing gas storage project is expected to be fully completed by 2026, with a total design capacity of 3.126 billion cubic meters by 2030 [3] - The company has unveiled a technology center for original technology in salt cavern gas storage, addressing global challenges in constructing large gas storage facilities [3]