（编辑 袁冠琳） 证券日报网讯 1月26日，金石资源在互动平台回答投资者提问时表示，上市公司股价的短期波动受宏观 经济、市场情绪、资金偏好及公司具体经营情况等多重因素综合影响，同一产业链内不同环节的企业的 市场表现也常存在差异。 ...

证券日报网讯1月26日，金石资源（603505）在互动平台回答投资者提问时表示，相较于关注某个时点 的资金进出，公司更着眼于长期基本面的夯实与内在价值的提升。 ...

Investment Rating - The report maintains a strong rating for the chemical industry, indicating a positive outlook for the sector [5]. Core Insights - The chemical sector has shown resilience with the CITIC Basic Chemical Index rising by 5.73% and the Shenwan Chemical Index increasing by 7.29% this week [13][16]. - Key sub-industries such as soda ash, chlor-alkali, and dyeing chemicals have experienced significant price increases, with soda ash rising by 13.3% [16]. - The report highlights the competitive strength of domestic tire manufacturers and suggests focusing on companies like Sailun Tire and Linglong Tire as potential growth opportunities [4]. - The polyurethane project by Huide Technology, with an annual production capacity of 600,000 tons, has commenced, indicating strategic growth in the new materials sector [3]. - The report emphasizes the tightening supply-demand dynamics in the phosphate chemical sector due to environmental regulations and increasing demand from the new energy sector [4]. Summary by Sections Market Overview - The Shanghai Composite Index increased by 0.84%, while the ChiNext Index decreased by 0.34% [13]. - The overall performance of the chemical sector is positive, with notable gains in various sub-industries [16]. Key Sub-Industry Developments - **Polyurethane**: The price of pure MDI in East China is reported at 17,600 RMB/ton, showing a week-on-week decline of 1.12% [28]. - **Tires**: The operating load for all-steel tires in Shandong is at 62.70%, reflecting a year-on-year increase of 20.70% [49]. - **Fertilizers**: Urea prices are at 1,757.45 RMB/ton, with a week-on-week decrease of 0.4% [63]. - **Vitamins**: The price of Vitamin A is reported at 61.5 RMB/kg, down 1.6% week-on-week [79]. Investment Themes - **Tire Sector**: Domestic tire companies are positioned strongly, with a focus on growth stocks [4]. - **Consumer Electronics**: Recovery in demand is anticipated, benefiting upstream material companies [4]. - **Phosphate Chemicals**: Supply constraints due to environmental policies are expected to tighten the market [4]. - **Vitamin Supply**: Supply disruptions in Vitamin A and E are noted, creating potential investment opportunities [4].

证券日报网1月23日讯，金石资源（603505）在接受调研者提问时表示，氢氟醚系列是诺亚在中高端清 洗领域的重要产品线，已开发十余种纯品及配方产品，这些产品均可作为3M同类清洗剂的有效替代， 广泛应用于精密光学、面板、半导体、医疗器材制造和汽车领域的清洗与冷却。诺亚产品的优势是，在 保持价格竞争力的同时，具备更优的技术含量与性能表现，尤其在材料稳定性与清洗效能方面具有明显 优势，构建了较高的技术壁垒。 ...

Core Viewpoint - Jinshi Resources (603505) highlights the four main technical routes of fluorinated liquids, which include perfluoroamines, perfluoropolyethers, perfluoroolefins, and hydrofluoroethers, each with distinct characteristics in terms of environmental impact, process costs, and applicable scenarios [1] Group 1: Technical Routes - Perfluoroamines, represented by 3M, have excellent heat dissipation performance but are associated with high pollution and energy consumption due to their electrochemical fluorination production process, resulting in a high global warming potential (GWP) and elevated costs [1] - Perfluoropolyethers, primarily produced by European companies like Solvay, offer good heat dissipation performance, but some products have a GWP even higher than perfluoroamines, along with relatively high costs [1] - Perfluoroolefins, proposed by companies like Noah, have the lowest GWP and outstanding environmental properties, along with good heat dissipation performance; their production process is advantageous, making them the most cost-effective among the products, currently mainly used in temperature control and cleaning in semiconductor and data center applications [1] - Hydrofluoroethers are suitable for non-contact liquid cooling scenarios, providing good heat dissipation performance, but they have a higher dielectric constant [1]

Core Viewpoint - The company Jinshi Resources (603505) is currently experiencing a clear growth trend in its production capacity and order fulfillment, particularly in the cooling liquid segment, which is expected to reach full capacity by the fourth quarter of 2025 [1]. Group 1: Production Capacity - The company's total production capacity is nearly 20,000 tons, with a specific cooling liquid capacity of 5,000 tons per year [1]. - The production bases are located in Zhejiang Shengxiu and Hubei Qianjiang [1]. Group 2: Product Focus - The hydrogen fluoride ether products are primarily situated in Hubei Qianjiang and are currently in a capacity ramp-up phase [1]. - Orders for the hydrogen fluoride ether products have already been fully booked for the fourth quarter of 2025, indicating a strong demand and growth trajectory [1].

证券日报网1月23日讯，金石资源（603505）在接受调研者提问时表示，单一萤石矿山是公司的基本 盘，目前整体运作正常。公司位于国内的单一萤石矿山去年产量是在40多万吨，成本情况得到一定控 制，萤石精粉价格近期稳定在3300-3450元/吨(含税)的区间。2026年，随着翔振矿业的技改完成，预计 产量会略有提升。 ...

Core Viewpoint - Jinshi Resources (603505) highlights its subsidiary, Zhejiang Nuoya Fluorochemical Co., Ltd., as a key player in the fluorochemical industry, emphasizing its status as a national high-tech enterprise and its significant production capacity in various applications [1] Company Overview - Zhejiang Nuoya Fluorochemical Co., Ltd. was established in 2015 and is recognized as a national high-tech enterprise and a key "little giant" enterprise in both national and provincial contexts [1] - The company operates two production bases covering over 200,000 square meters, located in Shangyu, Zhejiang, and Qianjiang, Hubei, with an annual total production capacity of nearly 20,000 tons of fluorinated electronic chemicals [1] Product Lines - The company specializes in three main product series: fluorinated cooling liquids, mid-to-high-end electronic cleaning agents, and perfluorohexanone fire extinguishing agents [1] - These products are utilized across various emerging and popular sectors, including data centers, semiconductors, display panels, automotive, precision electronics, energy storage, and new energy firefighting [1]

证券日报网1月23日讯，金石资源（603505）在接受调研者提问时表示，包头"选化一体"项目在2025年 运行比较良好，特别是包钢金石选矿项目，超计划完成了产量目标。2026年，主要聚焦金鄂博氟化工相 关产能的释放，深化降本增效措施，优化运营管理等，力争实现更优的经营效益。 ...

Group 1 - The company, Jinshi Resources (603505), confirmed its current office address is located at 23rd Floor, 8 Qiushi Road, Hangzhou [1]