重要内容提示： 担保对象及基本情况 | 证券代码：605020 | 证券简称：永和股份 | 公告编号：2025-071 | | --- | --- | --- | | 债券代码：111007 | 债券简称：永和转债 | | 浙江永和制冷股份有限公司 关于为子公司提供担保的进展公告 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。 | | 被担保人名称 本次担保金额 | 包头永和新材料有限公司 400,000.00万元 | | | --- | --- | --- | --- | | 担保对象一 | 实际为其提供的担保余额 | 万元 0.00 | | | | 是否在前期预计额度内 | 是 □否 | □不适用：_________ | | | 本次担保是否有反担保 | □是 否 | □不适用：_________ | | 担保对象二 | 被担保人名称 | | 浙江冰龙环保科技有限公司 | | | 本次担保金额 | 万元 3,000.00 | | | | 实际为其提供的担保余额 | 万元 166.60 | | | | 是否在前期预计额度 ...

Market Performance - The chemical products sector increased by 0.37% on September 1, with *ST Jintai leading the gains [1] - The Shanghai Composite Index closed at 3875.53, up 0.46%, while the Shenzhen Component Index closed at 12828.95, up 1.05% [1] Top Gainers in Chemical Sector - *ST Quantai (300225) closed at 5.79, up 12.21% with a trading volume of 366,800 shares and a turnover of 204 million yuan [1] - Kangda New Materials (002669) closed at 15.46, up 10.04% with a trading volume of 305,700 shares [1] - Jianye Co. (603948) closed at 32.09, up 10.01% with a trading volume of 25,800 shares [1] - Dinglong Technology (603004) closed at 24.42, up 10.00% with a trading volume of 78,100 shares [1] - Zanyu Technology (002637) closed at 12.02, up 9.97% with a trading volume of 154,400 shares [1] Top Losers in Chemical Sector - Akole (603722) closed at 51.95, down 7.99% with a trading volume of 75,000 shares and a turnover of 392 million yuan [2] - Jiabiyou (688089) closed at 27.36, down 5.07% with a trading volume of 122,100 shares [2] - Andyshi (66ZOO9) closed at 10.07, down 4.82% with a trading volume of 271,400 shares [2] Capital Flow Analysis - The chemical products sector experienced a net outflow of 361 million yuan from institutional investors, while retail investors saw a net inflow of 243 million yuan [2][3] - Kangda New Materials (002669) had a net inflow of 1.21 billion yuan from institutional investors, but a net outflow of 55.12 million yuan from retail investors [3] - Zanyu Technology (002637) had a net inflow of 61.87 million yuan from institutional investors, with a net outflow of 32.00 million yuan from retail investors [3]

Group 1 - The PVDF concept sector rose by 1.74%, ranking 7th among concept sectors, with 9 stocks increasing, including Puxin Technology and Dongyang Sunshine hitting the daily limit [1][2] - Notable gainers in the PVDF sector included Juhua Co., which increased by 6.88%, Sanmei Co. by 3.83%, and Yonghe Co. by 3.69% [1][4] - The sector experienced a net inflow of 485 million yuan from main funds, with Puxin Technology leading the inflow at 205 million yuan [2][3] Group 2 - The top stocks by net inflow ratio included Puxin Technology at 11.52%, Huahua Technology at 9.25%, and Heimao Co. at 8.54% [3] - The trading volume for Puxin Technology was 20,509.85 million yuan, with a daily turnover rate of 3.84% [3] - The stocks with the largest declines included Zhongchuang Environmental Protection, which fell by 5.58%, and Jinming Precision Machinery, which decreased by 2.21% [1][4]

Group 1: A-Share Market Performance - A-shares saw collective gains on August 28, with trading volume exceeding 3 trillion yuan, led by the technology sector [1] - The A-share market has outperformed global markets this year, with significant inflows into emerging markets, particularly from the iShares core MSCI Emerging Markets ETF, which saw over $8.6 billion in net inflows [1] - On August 27, there was a market pullback, particularly in small-cap stocks, with the CSI 2000 index down 2.32% and the Wind micro-cap index down nearly 4% [1] Group 2: Private Enterprises and Financial Performance - The "2025 China Top 500 Private Enterprises" list revealed that 194 companies control 273 A-share listed companies, with a revenue threshold of 27.023 billion yuan [2] - The total revenue of the top 500 private enterprises reached 43.05 trillion yuan, with an average revenue of 861.02 billion yuan, reflecting a year-on-year growth of 2.72% [2] Group 3: Fund Issuance and Investment Trends - The new fund issuance market is recovering, with nearly 100 billion yuan in new funds launched this month, and equity fund issuance exceeding 57 billion yuan, marking a record high for the year [3] - Sovereign wealth funds are increasing their holdings in A-shares, with notable investments from entities like Abu Dhabi Investment Authority and Kuwait Investment Authority [3] Group 4: Fluorochemical Industry Performance - Major fluorochemical companies reported significant profit growth in the first half of the year, with Juhua Co. achieving a net profit of 2.051 billion yuan, up 146.97% year-on-year [4] - The supply of refrigerants is constrained due to quota systems, leading to improved industry dynamics and increased domestic and international demand [4] Group 5: Insurance Sector Performance - The five major listed insurance companies reported a combined net profit of 178.193 billion yuan in the first half of 2025, a year-on-year increase of 3.7% [8] - The new business value of life insurance and the combined cost ratio of property insurance improved, indicating better underwriting profitability [8] Group 6: Nonferrous Metals Industry - As of August 28, 116 listed companies in the nonferrous metals sector reported their half-year results, with 72 companies showing profit growth and 18 companies exceeding 100% profit growth [9] - The sector benefited from rising prices and sales of gold, silver, and copper, alongside ongoing innovation and cost reduction efforts by leading firms [9]

Core Viewpoint - The profitability of several leading fluorochemical companies has significantly increased in the first half of the year, driven by rising prices and volumes of refrigerants [1][2]. Group 1: Company Performance - Juhua Co., Ltd. reported a net profit of 2.051 billion yuan in the first half of the year, a year-on-year increase of 146.97%, surpassing last year's total [2][3]. - Sanmei Co., Ltd. achieved a net profit of 999.5 million yuan, up 159.22% year-on-year, despite a 6.27% decline in refrigerant sales volume [3]. - Dongyangguang and Yonghe Co., Ltd. also reported strong performances, with net profits increasing by 170.57% and 140.82%, respectively [3]. Group 2: Market Dynamics - The supply of refrigerants is constrained due to quota systems, leading to improved industry ecology and competitive order [1][2]. - The average price of refrigerants has risen significantly, with Juhua Co. reporting an average price of 39,400 yuan per ton, a 61.88% increase year-on-year [2][3]. - The demand for refrigerants is driven by domestic policies promoting appliance upgrades and international market growth due to urbanization and consumption upgrades [1][4]. Group 3: Future Outlook - Analysts expect the price of mainstream refrigerants to continue rising, with R32 prices increasing by nearly 40% since the beginning of the year [4][5]. - The domestic refrigerant market is expected to benefit from ongoing demand in air conditioning, refrigeration, and automotive sectors, despite potential slowdowns in certain areas [4][5].

| 证券代码：605020 | 证券简称：永和股份 | 公告编号：2025-070 | | --- | --- | --- | | 债券代码：111007 | 债券简称：永和转债 | | 浙江永和制冷股份有限公司 关于召开 2025 年半年度业绩说明会的公告 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2025 年半年度的经营 成果及财务指标的具体情况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回答。 二、说明会召开的时间、地点 （一）会议召开时间：2025 年 9 月 5 日（星期五）下午 14:00-15:00 （ 二 ） 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： 1/2 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： 会议召开时间：2025 年 9 月 5 日（星期五）下午 14:00-15:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： htt ...

证券代码：605020 证券简称：永和股份 公告编号：2025-069 债券代码：111007 债券简称：永和转债 浙江永和制冷股份有限公司 关于提前赎回"永和转债"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。 重要内容提示： ? 浙江永和制冷股份有限公司（以下简称"公司"）股票自 2025 年 7 月 元/股的 130%（即 25.584 元/股）。按照《浙江永和制冷股份有限公司公开发行 可转换公司债券募集说明书》（以下简称"《募集说明书》"）的相关约定，"永 和转债"已触发有条件赎回条款。 ? 公司于 2025 年 8 月 25 日召开第四届董事会第二十二次会议，审议通过 《关于提前赎回"永和转债"的议案》，公司董事会决定行使提前赎回权，对赎 回登记日登记在册的"永和转债"按照债券面值加当期应计利息的价格全部赎回。 ? 投资者所持"永和转债"除在规定时限内通过二级市场继续交易或按照 计利息被强制赎回。若被强制赎回，可能面临较大投资损失。 一、"永和转债"发行上市概况 （一）"永和转债"发行情况 经中国证券监督管理 ...

| 证券代码：605020 | 证券简称：永和股份 | 公告编号：2025-069 | | --- | --- | --- | | 债券代码：111007 | 债券简称：永和转债 | | 浙江永和制冷股份有限公司 关于提前赎回"永和转债"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。 重要内容提示： 浙江永和制冷股份有限公司（以下简称"公司"）股票自 2025 年 7 月 22 日至 2025 年 8 月 25 日，已有十五个交易日的收盘价不低于当期转股价 19.68 元/股的 130%（即 25.584 元/股）。按照《浙江永和制冷股份有限公司公开发行 可转换公司债券募集说明书》（以下简称"《募集说明书》"）的相关约定，"永 和转债"已触发有条件赎回条款。 公司于 2025 年 8 月 25 日召开第四届董事会第二十二次会议，审议通过 《关于提前赎回"永和转债"的议案》，公司董事会决定行使提前赎回权，对赎 回登记日登记在册的"永和转债"按照债券面值加当期应计利息的价格全部赎回。 投资者所持"永和转债"除在规定时限内通 ...

中信证券股份有限公司 关于浙江永和制冷股份有限公司 提前赎回"永和转债"的核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为浙 江永和制冷股份有限公司（以下简称"永和股份"或"公司"）的保荐人， 根据《证券发行上市保荐业务管理办法》《上海证券交易所股票上市规则》 《上海证券交易所上市公司自律监管指引第1号——规范运作》《上海证券交 易所上市公司自律监管指引第12号——可转换公司债券》等相关规定履行持 续督导职责，针对永和股份提前赎回"永和转债"事项进行了审慎核查，发 表如下核查意见： 一、"永和转债"发行上市概况 （一）永和转债"发行情况 经中国证券监督管理委员会《关于核准浙江永和制冷股份有限公司公开发行 可转换公司债券的批复》（证监许可[2022]2048 号）核准，公司于 2022 年 10 月 11 日公开发行 800.00 万张可转换公司债券，每张面值 100 元，发行总额 80,000.00 万元。本次发行的可转换公司债券的期限为自发行之日起六年，即 2022 年 10 月 11 日至 2028 年 10 月 10 日。可转债票面利率为：第一年 0.30%、第二年 0.50%、 ...

Investment Rating - The industry investment rating is "Overweight" [1] Core Insights - The chemical sector's overall performance ranked 15th this week, with a change of 2.86%, underperforming the Shanghai Composite Index by 0.63 percentage points and the ChiNext Index by 3.00 percentage points [4][22] - The chemical industry is expected to continue its trend of differentiated performance in 2025, with recommendations to focus on synthetic biology, pesticides, chromatography media, sweeteners, vitamins, light hydrocarbon chemicals, COC polymers, and MDI [4] Industry Performance - The chemical sector's performance for the week of August 18-22, 2025, showed a 2.86% increase, while the Shanghai Composite Index increased by 3.49% and the ChiNext Index by 5.85% [4][22] - The top three performing sub-sectors were other rubber products (8.53%), polyurethane (6.34%), and titanium dioxide (5.69%), while the bottom three were synthetic resin (-1.67%), carbon black (-1.00%), and other plastic products (-0.34%) [23][22] Key Industry Dynamics - South Korea plans to cut naphtha cracking capacity by 25%, affecting 2.7 to 3.7 million tons based on an annual capacity of 14.7 million tons, as part of efforts to restructure its petrochemical industry [35] - The Ministry of Industry and Information Technology of China held a meeting to regulate the photovoltaic industry, emphasizing the importance of maintaining a healthy competitive environment [35] Recommended Focus Areas - Synthetic biology is highlighted as a key area for growth, with traditional chemical companies needing to adapt to energy costs and carbon taxes [4] - The third-generation refrigerants are expected to enter a high-growth cycle due to supply constraints and increasing demand from markets like Southeast Asia [5] - The electronic specialty gases market presents significant opportunities for domestic companies due to high technical barriers and increasing demand from semiconductor and photovoltaic sectors [6][8] - Light hydrocarbon chemicals are becoming a global trend, with a shift towards lighter raw materials for ethylene production [8] - The COC polymer industry is accelerating its domestic industrialization process, driven by supply chain security concerns [9] - Potash fertilizer prices are expected to rebound as major producers reduce output and demand increases from farmers [10] - The MDI market is characterized by oligopoly, with a favorable supply structure anticipated as demand recovers [12]