二、考核原则 考核评价必须坚持公正、公开、公平的原则，严格按照本办法和考核对象的 业绩进行评价，以实现激励计划与激励对象工作业绩、贡献紧密结合，从而提高 公司整体业绩，实现公司与全体股东利益最大化。 三、考核范围 无锡阿科力科技股份有限公司 2025 年限制性股票激励计划实施考核管理办法 无锡阿科力科技股份有限公司（以下简称"公司"）为了进一步明确公司的 业绩考核指标，以更有效地建立、健全公司长效激励机制，吸引和留住优秀人才， 充分调动公司董事、高级管理人员、核心技术（生产）人员、子公司核心人员的 积极性，有效地将股东利益、公司利益和核心团队个人利益结合在一起，使各方 共同关注公司的长远发展，提升公司的市场竞争能力与可持续发展能力，并充分 保障股东利益的前提下，公司拟实施2025年限制性股票激励计划（以下简称"限 制性股票激励计划"或"激励计划"）。 为保证激励计划的顺利实施，现根据《中华人民共和国公司法》《中华人民 共和国证券法》《上市公司股权激励管理办法》等有关法律、法规和规范性文件 以及公司章程、公司限制性股票激励计划的相关规定，并结合公司的实际情况， 特制定本办法。 一、考核目的 制定本办法的目的是通 ...

证券代码：603722 证券简称：阿科力 公告编号：2025-051 无锡阿科力科技股份有限公司 关于使用闲置自有资金进行委托理财到期赎回 的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连 带法律责任。 重要内容提示： ●赎回理财产品名称：中国民生银行聚赢汇率-挂钩欧元对美元汇率区间累 计结构性存款（SDGA250800V） 公司于 2025 年 3 月 19 日购买了中国民生银行南京分行发行的"聚赢汇率- 挂钩欧元对美元汇率区间累计结构性存款"，具体内容详见公司于 2025 年 3 月 22 日在上海证券交易所网站（www.sse.com.cn）披露的《无锡阿科力科技股份有 限公司关于使用闲置自有资金进行委托理财的进展公告》（公告编号：2025-007）。 截至本公告日，公司已赎回上述投资产品，获得本金及收益合计人民币 二、 截至本公告日，公司最近十二个月使用自有资金委托理财的情况 单位：万元 | 序号 | 理财产品类 | 实际投入金额 | 实际收回本金金 | 实际收益 | 尚未收回本金 | | --- | ...

关于公司建设项目通过安全设施竣工验收的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连 带法律责任。 证券代码：603722 证券简称：阿科力 公告编号：2025-050 无锡阿科力科技股份有限公司（以下简称"公司"）于 2025 年 6 月 4 日邀请 专家组对"年产 20000 吨脂肪胺扩建项目、年产 10000 吨高透光材料新建项目（二 期，年产 5000 吨高透光材料）"进行安全设施竣工验收评审。目前，该项目已通 过专家组安全设施竣工验收评审并在政府部门备案。该建设项目前期已经完成安 全条件审查、安全设施设计审查以及试生产方案审查，至此，该项目进入正式生 产阶段，并有合格产品成功产出。 无锡阿科力科技股份有限公司 该项目的正式生产将对公司未来生产经营产生积极影响。项目正式生产后短 期内不会对公司业绩产生重大影响，预期产能释放到全面达产尚需一定时间；同 时，在产能释放过程中可能面临市场需求变化、市场竞争加剧、下游客户验证周 期、原料供应及价格波动等因素影响，因此产品销售及业绩存在不确定性。敬请 广大投资者注 ...

无锡阿科力科技股份有限公司董事会薪酬与考核委员会 关于公司2025年限制性股票激励计划相关事项的核查意见 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司股 权激励管理办法》以及《公司章程》等有关法律法规及规范性文件的规定，无 锡阿科力科技股份有限公司（以下简称"公司"）董事会薪酬与考核委员会对 《无锡阿科力科技股份有限公司2025年限制性股票激励计划（草案修订稿）》 （以下简称"《激励计划（草案修订稿）》"或"本次激励计划"）及其摘要 相关事项进行了仔细阅读和审核。现发表核查意见如下： 进一步明确公司的业绩考核指标，以更有效地建立、健全公司长效激励机 制，吸引和留住优秀人才，充分调动公司董事、高级管理人员、核心技术（生 产）人员、子公司核心人员的积极性，有效地将股东利益、公司利益和核心团 队个人利益结合在一起，使各方共同关注公司的长远发展，提升公司的市场竞 争能力与可持续发展能力，并充分保障股东利益的前提下，公司对《无锡阿科 力科技股份有限公司2025年限制性股票激励计划（草案）》内容作了部分修订。 经审阅，我们认为： 1、公司本次激励计划的制定、审议流程和内容符合《中华人民共和国公司 法》《 ...

无锡阿科力科技股份有限公司 第五届董事会第三次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假 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 担个别及连带法律责任。 一、会议召开情况 无锡阿科力科技股份有限公司（以下称"股份公司"）第五届董事会第三次会 议于 2025 年 6 月 30 日在公司办公楼二层会议室召开，会议的通知于 2025 年 6 月 25 日以邮件及电话的方式发出。股份公司董事共计 9 人，出席本次董事会的 董事共 9 人，出席会议人数符合《中华人民共和国公司法》和《无锡阿科力科 技股份有限公司章程》的规定。 二、会议表决情况 证券代码：603722 证券简称:阿科力 公告编号：2025-046 经过参会董事充分讨论与审议，表决涉及关联董事回避的，除关联董事回避 表决外，非关联董事表决结果为一致通过。 具体表决情况如下： 1. 审议《关于<无锡阿科力科技股份有限公司 2025 年限制性股票激励计划 （草案修订稿）>及其摘要的议案》； 内容详见同日于《上海证券报》、《证券时报》、《金融时报》及上海证券交易 所网站（www.sse.com.cn） ...

Group 1 - The A-share market showed signs of recovery in June, with major indices generally rising, particularly the ChiNext Index which increased by 6.1% [1][8] - The performance of various sectors was mixed, with telecommunications, non-bank financials, banks, and non-ferrous metals performing well, while consumer sectors like food and beverage, beauty care, and home appliances lagged [1][8] - The Hong Kong stock market also experienced a rebound, with the Hang Seng Index and other indices showing increases of 5.0%, 4.8%, and 4.4% respectively by June 26, 2025 [1][12] Group 2 - The report anticipates that the A-share index will maintain a volatile trend, with external risks potentially easing but still requiring vigilance regarding U.S. policies [2][16] - The upcoming earnings season is expected to highlight sectors with strong performance, particularly steel, computers, electric equipment, and defense industries, which are projected to have relatively high growth rates [2][18] - Stable assets such as high-dividend stocks and gold are recommended for attention, as they have historically performed well during uncertain market conditions [2][18] Group 3 - The Hong Kong market is expected to continue its volatile trend, influenced by liquidity constraints and uncertainties in U.S.-China relations [3][23] - Long-term investment strategies should focus on a "barbell" approach, emphasizing technology growth and high-dividend stocks, particularly in sectors like telecommunications, utilities, and banking [3][23] - The report identifies several key stocks for July 2025 in both A-shares and Hong Kong markets, including Newguang, Gree Electric, Tencent Holdings, and Xiaomi Group, among others [3][29][32]

Investment Rating - The report maintains an "Overweight" rating for the basic chemical industry [6] Core Viewpoints - The report is optimistic about the domestic breakthroughs in COC materials, packaging materials, and semiconductor materials, emphasizing the importance of "domestic substitution" in achieving supply chain security and reducing production costs for end products [1][22] Summary by Sections Semiconductor Materials - The global semiconductor sales are projected to reach approximately $630.5 billion in 2024, representing a year-on-year growth of about 19.7%, with the Asia-Pacific region expected to see a growth of 17.5% [4][38] - The steady growth in the semiconductor market is anticipated to drive an increase in demand for semiconductor materials, including photoresists and electronic specialty gases [4][43] COC/COP Materials - COC/COP, a high-end optical material, has shown significant potential, with Akolai's thousand-ton production line entering trial production in Q3 2024 [2][29] - COC/COP materials are characterized by high thermal deformation temperature, high transparency, low birefringence, and low dielectric loss, making them ideal for optical components [25][28] - The domestic production of COC/COP is gaining momentum, with several companies, including Akolai, making strides in industrialization [28][29] PSPI Materials - PSPI combines the functions of photoresist and dielectric insulation layer, showing promise in integrated circuits and OLED applications [3][35] - Domestic companies like Aolide and Dinglong have achieved breakthroughs in the localization of PSPI, indicating a potential increase in domestic supply [3][36] Investment Recommendations - The report suggests focusing on high-value new materials, particularly semiconductor materials, OLED supply chains, and wind power materials [5] - It also highlights the importance of monitoring the development of new capacities in the semiconductor materials sector [43]

Metal Sector - China Hongqiao's net profit forecast for 2024 is CNY 223.72 billion, with a PE ratio of 6.78[12] - Luoyang Molybdenum's net profit forecast for 2025 is CNY 167.43 billion, with a PE ratio of 10.42[12] Building Materials Sector - China National Materials' net profit forecast for 2025 is CNY 18.54 billion, with a PE ratio of 16.65[12] - Keda Manufacturing's net profit forecast for 2025 is CNY 17.24 billion, with a PE ratio of 10.82[12] - Three Trees' revenue compound growth rate from 2015 to 2018 was approximately 33%[40] Transportation Sector - SF Holding's net profit forecast for 2025 is CNY 117.44 billion, with a PE ratio of 20.58[12] - The company has seen a significant increase in daily package handling, reaching an average of 166 packages per courier in 2024[56] Chemical Sector - Yara International's net profit forecast for 2025 is CNY 22.52 billion, with a PE ratio of 12.30[12] - Ba Tian's net profit forecast for 2025 is CNY 12.84 billion, with a PE ratio of 7.59[12] Financial Performance - The overall net profit for Keda Manufacturing is projected to reach CNY 19.0 billion by 2026, with a significant increase in overseas revenue contributing to growth[31]

Core Viewpoint - The company has announced a restricted stock incentive plan aimed at motivating key personnel and aligning their interests with the company's performance, particularly in the COC/COP business segment [3][4]. Group 1: Incentive Plan Details - The company plans to grant 2.03 million restricted stocks to 22 key personnel, including directors and core technical staff, at a price of 22.17 yuan per share [3]. - The assessment period for the incentive plan is set from 2025 to 2027, focusing on the progress of core products such as cyclic olefin copolymer (COC) and high-heat-resistant resins, as well as net profit attributable to the parent company [4]. Group 2: Performance Targets - For 2025, the targets include achieving customer validation and mass sales in at least two out of three fields (HUD, pharmaceutical packaging, and lenses) for COC products, and commencing production and sales of high-heat-resistant resins at the Qianjiang base [4]. - The 2026 target is to exceed 1,000 tons in sales of COC products and complete the installation of main equipment for a 10,000-ton optical materials project by the end of the year [4]. - The 2027 target includes achieving over 3,000 tons in sales of COC products and a net profit of over 50 million yuan [4]. Group 3: Production Updates - The company has commenced trial production of its thousand-ton COC production line, which is currently undergoing batch stability testing [5]. - A 30,000-ton optical materials project is planned in Qianjiang, and the company has raised 215 million yuan for a 20,000-ton polyether amine project [6].

Investment Rating - The report maintains an "Accumulate" rating for the company [6]. Core Viewpoints - The company has announced a restricted stock incentive plan aimed at enhancing the motivation of core members, with a focus on the progress of its COC/COP products, which are expected to achieve mass sales by 2025 [2][4]. - The incentive plan's assessment period is set from 2025 to 2027, with specific sales and profit targets outlined for each year, indicating a strong confidence in the company's product development [2][4]. - The company has successfully initiated trial production of its thousand-ton COC production line, which is currently undergoing stability testing, and plans to expand its optical materials project in Hubei [3][4]. Summary by Relevant Sections Incentive Plan - The company plans to grant 2.03 million restricted stocks to 22 key personnel at a price of 22.17 yuan per share, with performance targets linked to the sales of core products and net profit [1][2]. Financial Forecasts - The company's projected net profits for 2025, 2026, and 2027 are 0.21 billion, 1.06 billion, and 2.24 billion yuan respectively, reflecting a downward adjustment for 2025 and 2026 due to weak profitability in its polyetheramine products [4][5]. - Revenue is expected to grow significantly from 0.522 billion yuan in 2025 to 1.108 billion yuan in 2027, with corresponding profit margins improving over the forecast period [5][11]. Production and Sales Targets - By the end of 2025, the company aims to achieve mass sales of its COC products in at least two out of three targeted fields, with specific sales volume targets set for 2026 and 2027 [2][4]. - The company is also investing in a new project to produce 20,000 tons of polyether amine, with a total investment of 327 million yuan [3][4]. Market Position and Valuation - The current market capitalization of the company is approximately 4.257 billion yuan, with a share price of 44.48 yuan [6]. - The report indicates a significant increase in expected earnings per share (EPS) from 0.22 yuan in 2025 to 2.34 yuan in 2027, reflecting a positive outlook for the company's financial performance [5][11].