2025 年 07 月 01 日 晨会纪要 研究所： 证券分析师： 余春生 S0350513090001 yucs@ghzq.com.cn ——2025 年第 110 期 [Table_Title] 晨会纪要 观点精粹: 最新报告摘要 业绩表现稳健，品类持续创新--波司登/服装家纺(03998/213502) 点评报告（港股美股） 丁酮、丙烯、苯胺价格上涨，铬盐值得重点关注--行业周报 政策锚定内需，债市震荡延续--债券研究周报 宠物保持高景气度，生猪板块布局底部--行业周报 本周北证 50 实现领涨、广信科技上市，下周锦华新材上会--北交所行业普通报告 2025 年银行行业中期策略：波浪式前进，螺旋式上升--行业 PPT 报告 证券研究报告 1、最新报告摘要 1.1、业绩表现稳健，品类持续创新--波司登/服装家纺(03998/213502) 点评 报告（港股美股） 分析师：马川琪 S0350523050001 分析师：廖小慧 S0350524080002 事件: 波司登 6 月 26 日发布公告：FY2025 集团收入达 259.0 亿元（人民币，下同），同比增长 11.6%；归母净利 润 35.1 亿元， ...

草甘膦概念资金流出榜 | 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 000525 | 红太阳 | -4.44 | 8.06 | -11290.34 | | 002215 | 诺普信 | -1.72 | 4.57 | -4358.31 | | 600141 | 兴发集团 | 0.59 | 0.83 | -1198.36 | | 301665 | 泰禾股份 | -0.07 | 17.29 | -1134.85 | | 603970 | 中农立华 | -0.43 | 1.52 | -930.71 | | 300927 | 江天化学 | -0.69 | 5.11 | -675.31 | | 600486 | 扬农化工 | -2.23 | 1.02 | -652.24 | | 600596 | 新安股份 | 0.37 | 0.70 | -625.39 | | 603077 | 和邦生物 | 0.57 | 0.76 | -416.62 | | 002258 | 利尔化学 | -0.73 | 1.66 | - ...

Group 1 - The glyphosate concept sector declined by 2.82%, ranking among the top declines in the concept sector, with companies like Taihe Co., Hongyang, and Zhongqi Co. experiencing significant drops [1] - The main outflow of funds in the glyphosate concept sector amounted to 495 million yuan, with 16 stocks experiencing net outflows, and 5 stocks seeing outflows exceeding 30 million yuan [2] - The stock with the highest net outflow was Hongyang, with a net outflow of 227 million yuan, followed by Nuofeng, Zhongqi Co., and Yangnong Chemical [2] Group 2 - The top decliners in the glyphosate concept sector included Hongyang (-5.98%), Nuofeng (-2.89%), and Zhongqi Co. (-4.48%) [3] - The trading volume for Hongyang was 24.52%, indicating a high turnover rate despite the decline [3] - In contrast, companies like Huabang Health and Runfeng Co. saw net inflows of 13.35 million yuan and 67.44 million yuan, respectively [2][3]

| 300772 | 运达股 | 17.36 | 10.71 | 12.06 | 12.44 | 3.12 | | --- | --- | --- | --- | --- | --- | --- | | | 份 | | | | | | | 300578 | 会畅通 | 2.92 | 3.1 1 | 19.51 | 20.08 | 2.93 | | | 讯 | | | | | | | 603599 | 广信股 | 2.97 | 1.23 | 11.48 | 11.80 | 2.79 | | | 份 | | | | | | | 002561 | 徐家汇 | 6.63 | 8.07 | 8.46 | 8.69 | 2.72 | | 688190 | 云路股 | 8.63 | 1.18 | 89.88 | 92.25 | 2.64 | | | 份 | | | | | | | 300542 | 新晨科 | 3.38 | 7.41 | 20.55 | 21.09 | 2.61 | | | 技 | | | | | | | 001267 | 汇绿生 | 4.13 | 2.26 | 8.60 | 8.82 | 2.54 | | ...

Investment Rating - The report maintains a "Recommended" rating for the chemical industry [1] Core Views - The Israel-Iran conflict is expected to impact the Chinese chemical industry through increased demand for military materials and agricultural products, benefiting companies involved in metal chromium, nitrocellulose, carbon fiber, and rubber materials [4][5] - Supply-side constraints are anticipated due to potential disruptions in oil and gas supplies from Iran, affecting various chemical products [4] - The report highlights the rising prices of chromium salts and the potential for increased profitability in the sector, particularly for companies like Zhenhua Co. [5][6] Summary by Sections Recent Trends - The basic chemical sector has shown a performance increase of 8.8% over the past 12 months, outperforming the CSI 300 index, which has seen a 9.6% increase [3] Key Opportunities - The report identifies four main investment opportunities: 1. Low-cost expansion in companies such as Wanhua Chemical and Satellite Chemical [9] 2. Improved industry sentiment for chromium salts and phosphate rock [9] 3. New materials with high growth potential, particularly in electronic chemicals and aerospace materials [10] 4. High dividend yields from state-owned enterprises in the chemical sector [10] Company Focus - Zhenhua Co. is highlighted for its significant production capacity in chromium salts and its ability to adapt to market demands, with a projected production of 260,000 tons of chromium salt in 2024 [6][31] - Baitian Co. is noted for its phosphate rock production capacity expansion, which is expected to enhance its market position [7][31] Market Dynamics - The report discusses the ongoing tight supply-demand situation for phosphate rock, with existing capacities facing delays and increasing demand from lithium iron phosphate battery projects [7] - The report also mentions the impact of recent chemical safety incidents on industry capacity and regulatory pressures, which may accelerate the phase-out of less compliant operations [8]

Group 1 - The glyphosate concept sector increased by 1.61%, ranking 6th among concept sectors, with 13 stocks rising, including Zhongqi Co., Taihe Co., and Jiangshan Co., which rose by 6.30%, 4.82%, and 3.82% respectively [1] - The leading stocks in terms of net inflow of main funds include Zhongqi Co. with a net inflow of 27.41 million yuan, followed by Xin'an Co., Zhongnong Lihua, and Xingfa Group with net inflows of 26.98 million yuan, 26.60 million yuan, and 25.57 million yuan respectively [1] - The main fund inflow rate for Xin'an Co., Zhongnong Lihua, and Huabang Health is 12.55%, 11.48%, and 10.29% respectively, indicating strong investor interest in these stocks [2] Group 2 - The top gainers in the glyphosate concept sector include Zhongqi Co. with a 6.30% increase and a turnover rate of 23.92%, while the top losers include Nuobing Co. with a 2.40% decrease and a turnover rate of 5.51% [3] - The overall market performance shows a mixed trend with various sectors experiencing both gains and losses, highlighting the volatility in the market [1][2]

证券代码：603599 证券简称：广信股份 公告编号：2025-015 一、 通过分配方案的股东大会届次和日期 安徽广信农化股份有限公司 2024年年度权益分派实施公告 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。 重要内容提示： 每股分配比例 A 股每股现金红利0.27元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/6/18 | － | 2025/6/19 | 2025/6/19 | 差异化分红送转： 否 本次利润分配方案经公司2025 年 5 月 23 日的2024年年度股东大会审议通过。 二、 分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3. 分配方案： 本次利润分配以方案实施前的公司总股本910,269,345股为基数，每股派发现金红利0.27 元（含税），共计派发现金 ...

资金流入比率方面，新安股份、兴发集团、江天化学等流入比率居前，主力资金净流入率分别为 14.27%、8.09%、7.16%。（数据宝） 草甘膦概念资金流入榜 | 代码 | 简称 | 今日涨跌幅 | 今日换手率 | 主力资金流量（万 | 主力资金净流入比率 | | --- | --- | --- | --- | --- | --- | | | | （%） | （%） | 元） | （%） | | 300927 | 江天化 学 | 6.90 | 13.94 | 4661.01 | 7.16 | | 600141 | 兴发集 团 | 0.81 | 0.94 | 1771.57 | 8.09 | | 301665 | 泰禾股 份 | 3.44 | 23.13 | 1241.03 | 4.94 | | 600596 | 新安股 份 | 1.00 | 0.82 | 1228.87 | 14.27 | | 603970 | 中农立 华 | 2.53 | 6.20 | 704.74 | 2.82 | | 603077 | 和邦生 物 | 1.13 | 0.93 | 276.78 | 1.88 | | 003042 | 中农联 ...

[Table_Reportdate] 2025年06月03日 [证券分析师 Table_Authors] 吴骏燕S0630517120001 wjyan@longone.com.cn 证券分析师 谢建斌S0630522020001 xjb@longone.com.cn 证券分析师 张晶磊S0630524090001 zjlei@longone.com.cn 联系人 花雨欣 hyx@longone.com.cn [table_stockTrend] -30% -20% -10% -1% 9% 18% 28% 24-05 24-08 24-11 25-02 申万行业指数:基础化工(0722) 沪深300 [相关研究 table_product] [table_invest] 标配 行 业 周 报 1.日本三井化学退出三氟化氮业务， 我国电子特气竞争力有望加强—— 化工新材料行业简评 2.化工供给侧改革蓄力，哪些板块更 有空间？——化工系列研究（二十 五） [Table_NewTitle 供给端扰动背景下，关注相关化工板块 ] 配置机会 ——基础化工行业周报（2025/05/26-2025/06/01） [tabl ...

[Table_Reportdate] 2025年06月03日 [table_invest] 标配 行 业 周 报 [证券分析师 Table_Authors] 吴骏燕S0630517120001 wjyan@longone.com.cn 证券分析师 谢建斌S0630522020001 xjb@longone.com.cn 证券分析师 张晶磊S0630524090001 zjlei@longone.com.cn 联系人 花雨欣 [Table_NewTitle 供给端扰动背景下，关注相关化工板块 ] 配置机会 ——基础化工行业周报（2025/05/26-2025/06/01） [table_main] 投资要点： ➢ 本周重点新闻跟踪 证券研究报告 HTTP://WWW.LONGONE.COM.CN 请务必仔细阅读正文后的所有说明和声明 hyx@longone.com.cn [table_stockTrend] -30% -20% -10% -1% 9% 18% 28% 24-05 24-08 24-11 25-02 申万行业指数:基础化工(0722) 沪深300 [相关研究 table_product] 1.日本 ...