证券代码：603379 证券简称：三美股份 公告编号：2025-047 浙江三美化工股份有限公司 关于使用部分闲置募集资金进行现金管理 到期赎回的公告 公司于 2025 年 3 月 24 日召开第六届董事会第十八次会议和第六届监事会第 十六次会议，分别审议通过《关于使用闲置募集资金进行现金管理的议案》，同 意公司在确保募投项目所需资金和保证募集资金安全的前提下，使用闲置募集资 金进行现金管理，授权期限内单日最高余额不超过 1.90 亿元，授权期限自该次 董事会审议通过之日起 12 个月。具体内容详见公司于 2025 年 3 月 25 日在上海 证券交易所网站（www.sse.com.cn）披露的《公司关于使用闲置募集资金进行现 金管理的公告》(公告编号：2025-017)。 2025 年 1 月 17 日，公司使用闲置募集资金 5,000 万元认购了中国农业银行 股份有限公司武义县支行（以下简称"农行武义支行"）的单位定期存款。公司 于 2025 年 7 月 17 日赎回该笔现金管理产品，合计收回本金 5,000 万元，并获得 利息收益 31.25 万元，产品本金和利息收益均已归还至募集资金账户，具体情况 如 ...

海洋经济方面，2024年全国海洋生产总值首破10万亿元，占GDP7.8%;今年一季度同比增长5.7%。业内 认为深海科技前景广阔，预计2025年海洋生产总值将破13万亿元，深海科技产业占比超25%。多地积极 布局，青岛、海南、厦门分别出台规划，聚焦海洋科技创新、深海装备等领域，天风证券建议关注深海 材料、装备及数智化应用机会，三友化工已将海洋化学资源开发列为培育主业。 中信建投期货分析称，此轮上涨是对前期超跌的修复，因价格已跌破优势企业现金成本，利润修复预期 推动回弹。 中化新网讯 近日召开的中央财经委员会第六次会议，聚焦全国统一大市场建设与海洋经济高质量发 展，带动相关板块走强。7月1日至10日的8个交易日内，光伏指数涨3.97%、绿色电力涨4.08%、海洋经 济指数最高涨7.99%，均跑赢同期上证指数和深圳成指。作为国民经济基础产业的化工行业，有望从国 家战略规划中受益。 会议直指"内卷式"竞争治理，强调"推动落后产能有序退出"，新一轮去产能启动。7月2日，多晶硅期货 多个合约涨停，主力合约收于3.505万元/吨，创近期新高;硅料价格同步回升，N型复投料成交均价3.47 万元/吨，环比涨0.87%。 此外 ...

据业绩预告，巨化股份预计实现归母净利润19.7亿至21.3亿元，同比增长136%至155%；三美股份预计盈利9.48亿 至10.42亿元，增幅达146.97%至171.67%；永和股份与东阳光分别预计盈利2.55亿至2.8亿元、5.83亿至6.63亿元， 同比增长126.3%至148.49%、157.48%至192.81%。 业绩增长的核心驱动力来自氟制冷剂价格攀升。第二代制冷剂（HCFCs）生产配额进一步削减，第三代制冷剂 （HFCs）自2024年实施配额制后，库存消化充分且下游需求旺盛，推动价格持续上涨。百川盈孚数据显示，截至 7月8日，三代制冷剂R32、R125、R134a出厂价分别较上月上涨3.92%、0%、2.06%，较年初涨幅显著。 【环球网财经综合报道】近期，氟化工行业迎来业绩爆发期，多家企业披露的2025年半年度业绩预喜公告显示， 行业景气度持续攀升。其中，巨化股份、三美股份、永和股份及东阳光等企业预计归母净利润同比增长下限均超 100%，核心业务氟制冷剂价格大幅上涨成为业绩增长主引擎。 值得一提的是，东阳光上半年盈利创历史新高。公司依托三代制冷剂6万吨配额优势及完整氯氟化工产业链，将定 价权 ...

近期，多家氟化工企业披露2025年半年度业绩预喜公告。其中，浙江巨化股份有限公司（以下简称"巨 化股份"）、浙江三美化工股份有限公司（以下简称"三美股份"）、浙江永和制冷股份有限公司（以下 简称"永和股份"）、广东东阳光科技控股股份有限公司（以下简称"东阳光"）预计报告期内实现归母净 利润同比增长下限超过100%。 具体来看，巨化股份预计报告期内实现归母净利润为19.7亿元至21.3亿元，同比增长136%至155%；三 美股份预计报告期内实现归母净利润为9.48亿元至10.42亿元，同比增长146.97%至171.67%；永和股份 预计报告期内实现归母净利润2.55亿元至2.8亿元，同比增长126.3%至148.49%；东阳光预计报告期内实 现归母净利润5.83亿元至6.63亿元，同比增长157.48%至192.81%。 北京百川盈孚科技有限公司网站显示，截至7月8日，三代制冷剂R32、R125、R134a出厂参考价格分别 为53000元/吨、45500元/吨和49500元/吨，较上月分别上涨3.92%、0%、2.06%。 从政策端来看，去年12月份，生态环境部发布了《关于核发2025年度消耗臭氧层物质和氢氟 ...

Investment Rating - The report maintains an "Outperform" rating for the basic chemical industry [2] Core Viewpoints - The basic chemical sector has shown better performance than the market, with a year-to-date increase of 8.9%, outperforming the Shanghai Composite Index by 4.2 percentage points [4][16] - The global potash market is characterized by oligopoly, with major producers controlling supply and prices. Recent production cuts by key players are expected to sustain potash market conditions [5][27] - Phosphate supply remains tight, with stable prices and potential improvements in export opportunities as demand increases [5][27] Summary by Sections 1. Core Viewpoints - Policies are expected to improve supply-demand dynamics in the chemical sector, with a focus on cyclical investment opportunities [13] - The chemical industry is entering a new long-term prosperity cycle, driven by improved fundamentals and reduced risks [13][14] 2. Overall Performance of the Chemical Sector - The basic chemical industry index increased by 1.5% during the week, outperforming the Shanghai Composite Index by 0.4 percentage points [16] - Year-to-date, the basic chemical industry index has increased by 8.9%, significantly outperforming both the Shanghai Composite and ChiNext indices [16][18] 3. Individual Stock Performance in the Chemical Sector - Among 424 stocks in the basic chemical sector, 298 stocks rose while 123 fell during the week [25] - The top performers included companies like Shangwei New Materials (+72.9%) and Hongbo New Materials (+24.7%) [25][26] 4. Key News and Company Announcements - The autumn fertilizer preparation has begun, with a focus on investment opportunities in potash and phosphate fertilizers [27] - Major potash producers have announced production cuts, which are expected to tighten supply and support prices [5][27] - Phosphate prices remain stable, with potential for improved export conditions as demand increases [5][27] 5. Product Price Changes - The report highlights significant price increases in various chemical products, with notable gains in dimethylamine (+16.7%) and fatty alcohol (+8.2%) [6] - Conversely, urea prices have seen a significant decline (-15%) [6]

事件描述 三美股份发布业绩预告，预计2025H1 实现归母净利润为9.5-10.4 亿元，同比增长147.0%到171.7%，实 现扣非净利润9.4-10.3 亿元，同比增长151.0%到176.3%。其中Q2 实现归母净利润为5.5-6.4 亿，同比 138.5%-179.8%，实现扣非5.4-6.4 亿元，同比147.2%-190.3%。 事件评论 2025 年公司上半年业绩实现大幅增长，主要来源于核心产品制冷剂价格持续上涨。第三代制冷剂自 2024 年起实行生产配额制，经过一年的运行，厂库和渠道库存消化较为充分，且下游需求旺盛，叠加 行业生态、竞争秩序持续改善，产品价格持续恢复性上涨，毛利大幅上升。2025Q2 制冷剂R22、R32、 R134a、R125 内销市场均价为3.59、4.97、4.76、4.53 万元/吨，环比2025Q1 上涨5.7%、12.8%、6.8%、 4.1%；R22、R32、R134a、R125 外销市场均价为3.25、4.75、4.60、4.50 万元/吨，环比2025Q1 变 化-0.9%、+10.2%、+5.5%、+4.0%。二季度是空调排产旺季，R32 内销方面需求表现 ...

Investment Rating - The report maintains a positive outlook on the chemical industry, with specific buy and hold recommendations for various companies [2][20]. Core Insights - The report highlights the closure of Dow's organic silicon production capacity in Barry, UK, which is expected to increase domestic export demand and support the upstream industrial silicon costs, indicating a potential reversal in the organic silicon industry [4][5]. - The demand for high-end AI PCBs is projected to surge due to the continuous growth in computing power requirements, driven by GPU, ASIC, and 800G switch technologies [4]. - The report notes that the recent tariff announcements from the US on imports from Southeast Asia are lower than expected, stabilizing pessimistic market sentiments [4]. Industry Dynamics - The macroeconomic outlook for the chemical industry indicates a significant increase in oil supply led by non-OPEC countries, with a stable global GDP growth rate of 2.8% [5]. - The report mentions that coal prices are expected to decline in the medium to long term, alleviating pressure on downstream sectors [5]. - Natural gas exports from the US are anticipated to accelerate, potentially lowering import costs [5]. Company Recommendations - Companies to watch in the organic silicon sector include Dongyue Silicon Materials, Xin'an Chemical, and Xingfa Group [4]. - In the PCB sector, recommended companies include Shengquan Group, Dongcai Technology, Lianrui New Materials, Yake Technology, Tiancheng Technology, and Jiuri New Materials [4]. - For traditional cyclical stocks, the report suggests focusing on leading companies in various segments such as Wanhu Chemical, Hualu Hengsheng, and Baofeng Energy [4]. Price Trends - The report provides specific price movements for various chemical products, such as PTA prices decreasing by 2.8% to 4715 RMB/ton, while MEG prices increased by 0.7% to 4409 RMB/ton [11]. - Urea prices rose by 2.9% to 1800 RMB/ton, while phosphate prices remained stable [12]. - The report notes that the price of DMC increased by 1.9% to 11000 RMB/ton, indicating a recovery in the organic silicon market [15].

上 市 公 司 基础化工 2025 年 07 月 12 日 三美股份 (603379) ——"黄金赛道"业绩持续兑现，制冷剂价格和盈利同环 比大增，业绩略超预期 报告原因：强调原有的投资评级 投资要点： 财务数据及盈利预测 | 基础数据: | 2025 年 03 月 31 日 | | --- | --- | | 每股净资产（元） | 11.25 | | 资产负债率% | 11.84 | | 总股本/流通 A 股（百万） | 610/610 | | 流通 B 股/H 股（百万） | -/- | 一年内股价与大盘对比走势： 07-11 08-11 09-11 10-11 11-11 12-11 01-11 02-11 03-11 04-11 05-11 06-11 07-11 -40% -20% 0% 20% 40% 三美股份 沪深300指数 (收益率) 相关研究 证券分析师 | | 2024 | 2025Q1 | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 4,040 | 1,212 | 6,569 | ...

基础化工行业 买入（维持） 公司上半年归母净利大幅预增 147%-172% 公 三美股份（603379）2025 年半年度业绩预增点评 2025 年 7 月 11 日 投资要点： 司 点 分析师：卢立亭 SAC 执业证书编号： S0340518040001 电话：0769-22177163 邮箱： luliting@dgzq.com.cn | 证 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 券 | | | | | | | | 研 | | | | | | | | 主要数据 | 2025 | 年 | 7 | 月 | 10 | 日 | | 究 | | | | | | | | 收盘价（元） | 45.29 | 报 | 总市值（亿元） | 276.49 | | | | 告 | | | | | | | | 610.48 | 总股本（百万股） | 流通股本（百万股）610.48 | | | | | | ROE（TTM） | 14.92% | 12 | 月最高价（元） | 49.62 | | | | 25.62 | 12 | 月最低价（元） | | ...

Real Estate - The recent surge in the real estate market is primarily driven by policy support and upcoming central urban work meetings focusing on urban renewal and potential shantytown redevelopment [1] - Bloomberg reported that the market is betting on China restarting the shantytown renovation support plan from 2015, which may include accelerating new housing construction and providing monetary compensation to families [1] - The State Council aims to stabilize the real estate market and better meet public expectations for quality housing through new development models [1] Banking Sector - Global bank indices have reached new highs, with increases of 52% for global banks, 49% for U.S. banks, and 65% for European banks since the beginning of 2024 [4] - The A-share market saw a collective rise in major indices, with the Shanghai Composite Index recovering above 3500 points, indicating strong performance in the banking sector [5][6] - The banking sector is viewed as a stable investment, with major banks hitting historical highs [5] Market Dynamics - The real estate and housing inspection sectors experienced significant gains, with multiple stocks reaching their daily limit [6] - The silicon wafer manufacturers raised their prices, contributing to sustained gains in the silicon energy sector [6] - The rare earth permanent magnet sector showed positive performance, with North Rare Earth's net profit expected to grow by 1883% to 2015% year-on-year in the first half of the year [6][10] Chip Industry - Nvidia plans to launch a new AI chip designed for the Chinese market, which will comply with U.S. export restrictions by removing advanced technology components [9] - Despite the new chip's performance being inferior to local competitors, Chinese customers are still interested due to the high operational costs of switching platforms [10] - The demand for the new chip is expected to be lower than its predecessor, which faced significant restrictions earlier this year [10] Investment Trends - The non-bank financial sector saw the largest net inflow of capital, indicating strong investor interest [11] - The real estate and banking sectors are currently attracting significant investment, while sectors like electronics and automotive are experiencing net outflows [11] - The overall market sentiment is reflected in the performance of various sectors, with real estate, oil and gas, and steel leading the gains, while defense, electronics, and automotive sectors lag behind [19]