Group 1: New Consumption in the Chemical Industry - The report highlights investment opportunities in the chemical industry driven by new consumption trends, particularly in areas such as nylon, sugar substitutes, probiotics, and plant growth regulators [3][5]. - Nylon is expected to benefit from the growing demand for outdoor sports, with companies like Huading Co. and Juheshun recommended for investment [3]. - The sugar substitute market is projected to expand, with a focus on companies like Bailong Chuangyuan, despite the need for increased consumer awareness [3][34]. Group 2: Fertilizer Export Opportunities - The report indicates a favorable outlook for fertilizer prices in the second half of 2025, particularly for phosphate fertilizers, which are expected to maintain high profitability due to significant price differences domestically and internationally [3]. - Companies like Yuntianhua are recommended for their leading position in phosphate chemicals, while Yaji International is noted for its potassium fertilizer resources [3]. Group 3: Robotics and Material Demand - The report discusses the imminent mass production of humanoid robots, which is expected to create new material demands, particularly for PEEK materials and UHMWPE fibers [3]. - Companies such as Zhongyan Co., Kaisheng New Materials, and others are highlighted for their potential in this emerging market [3]. Group 4: Pesticide Market Outlook - The report anticipates a systemic upturn in the pesticide market due to frequent supply constraints, recommending companies like Xianda Co. and Lier Chemical for their focus on limited supply varieties [3][5]. Group 5: New Materials and Growth Stocks - The new materials market is described as active, with growth stocks like Shengquan Group and Zhuoyue New Energy recommended for investment [3][5]. Group 6: Nylon Industry Insights - The nylon fiber market is characterized by strong performance metrics, with a significant portion of the market (75% in 2022) attributed to civilian applications [19][25]. - Huading Co. is noted for its strategic focus on differentiated and functional nylon production, with a projected revenue of 7.52 billion yuan in 2024 [25][27]. Group 7: Sugar Substitute Market Dynamics - The sugar substitute market is expected to see a compound annual growth rate (CAGR) of 14.6% by 2025, with the global market size projected to reach 90 billion USD [37][38]. - Companies like Bailong Chuangyuan are positioned as leaders in the production of health-oriented sweeteners [42][45]. Group 8: Probiotic Market Growth - The probiotic market is experiencing rapid growth, with the global market size reaching 60.23 billion USD in 2022 and expected to grow at a CAGR of 8.7% until 2030 [58]. - Companies like Weilan Biological are highlighted for their comprehensive product offerings and strong market presence [59][65]. Group 9: Plant Growth Regulators - The plant growth regulator market in China is projected to reach 715 billion yuan by 2026, driven by increasing agricultural efficiency and regulatory changes [67][71]. - Guoguang Co. is identified as a leading player in this sector, with a diversified product portfolio and strategic acquisitions enhancing its market position [71].

Core Viewpoint - The company received a warning letter from the Zhejiang Securities Regulatory Bureau due to failure to timely disclose significant events and fulfill other legal responsibilities, leading to supervisory measures against its executives [1] Group 1: Regulatory Actions - The chairman, general manager, and former secretary of the board were issued warning letters for not disclosing the use of idle raised funds in a timely manner [1] - The company used a total of 90 million yuan of idle raised funds for cash management without proper disclosure until April 2025 [1] Group 2: Fund Management and Disclosure - The company had previously issued convertible bonds, with the first issuance totaling 204 million yuan and the second totaling 338 million yuan [2] - In August 2022, the company approved the use of idle funds for cash management, with a limit of 43 million yuan for purchasing safe financial products [2] - The company later used 90 million yuan from the raised funds for cash management in September 2024, which was disclosed only in April 2025 [2] Group 3: Financial Products and Internal Control - The company purchased a 10 million yuan time deposit from Hangzhou Bank at a 2.45% interest rate and 80 million yuan in time deposits from CITIC Bank at a 2.35% interest rate [3] - Despite the issues with disclosure, the company reported satisfactory internal control and compliance with regulatory requirements in its internal control evaluation report [3]

| 证券代码：605166 | 证券简称：聚合顺 | 公告编号：2025-060 | | --- | --- | --- | | 转债代码：111003 | 转债简称：聚合转债 | | | 转债代码：111020 | 转债简称：合顺转债 | | 聚合顺新材料股份有限公司 关于公司及相关负责人收到浙江证监局警示函 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。 公司上述行为违反了《上市公司监管指引第 2 号－－上市公司募集资金管理 和使用的监管要求》（证监会公告[2022]15 号）第八条和《上市公司信息披露 管理办法》（证监会令第 182 号）第三条的规定。公司董事长傅昌宝、总经理毛 新华、时任董秘兼财务总监姚双燕未能勤勉尽责，敦促上市公司规范使用募集资 金并履行信息披露义务，违反《上市公司信息披露管理办法》（证监会令第 182 号）第四条和第五十一条规定。 根据《上市公司信息披露管理办法》（证监会令第 182 号）第五十二条规定， 我局决定对公司、傅昌宝、毛新华、姚双燕分别采取出具警示函的监督管理措施， 并记入证券期 ...

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The prices of sustainable aviation fuel (SAF) and biodiesel have increased, while refrigerant prices remain high [3][5][30] - The demand for lightweight and high-performance materials is expected to rise due to advancements in the low-altitude economy and robotics [5][26] - The electronic chemicals sector is experiencing growth driven by technological breakthroughs and material import substitution [13][16] Summary by Sections 1. Subsector Tracking - Biodiesel and SAF prices have continued to rise, with SAF priced at $1955 per ton (up 3% week-on-week) and biodiesel at 8033 RMB per ton (up 1.36% week-on-week) [3][10][49] - Refrigerant prices are stable, with R22 at 36000 RMB per ton and R32 at 51500 RMB per ton [4][11] - High-performance fibers and lightweight materials are gaining attention, particularly in the context of robotics and the low-altitude economy [4][26] 2. Key Products and Price Trends - The report tracks various chemical new materials, noting price changes for products like PEEK, UHMWPE, and carbon fiber [10][11][26] - Carbon fiber prices have stabilized after a decline, with potential demand growth linked to new technologies [26][28] 3. Electronic Chemicals - The electronic chemicals sector is characterized by a high degree of specialization and technical barriers, with a focus on materials for semiconductor manufacturing [16][19] - The domestic semiconductor materials market is expected to grow faster than the global market, with a projected CAGR of 10% from 2023 to 2024 [19][22] 4. Renewable and Modified Plastics - The demand for renewable plastics is increasing, with a notable rise in the recycling rate of plastics from 4.8% in 2018 to 10% in 2021 [51] - Special engineering plastics are seeing growing demand in automotive and aerospace applications [51] 5. Market Performance - The basic chemical industry index increased by 0.20% during the week of June 9-15, while the overall market showed mixed performance [61][64] - The report highlights the strong performance of the petrochemical sector, which rose by 3.31% [61][64]

证券代码：605166 证券简称：聚合顺 公告编号：2025-059 转债代码：111003 转债简称：聚合转债 转债代码：111020 转债简称：合顺转债 聚合顺新材料股份有限公司 关于利润分配调整可转债转股价格的公告 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： ? 证券停复牌情况：适用 因实施 2024 年度权益分派,本公司的相关可转债转股复牌情况如下： ? "聚合转债"、"合顺转债"本次转股价格调整实施日期：2025 年 6 月 20 日 一、可转债基本情况 （一）"聚合转债"基本情况 经中国证券监督管理委员会《关于核准杭州聚合顺新材料股份有限公司公开 发行可转换公司债券的批复》（证监许可20213767 号）核准，2022 年 3 月 7 日 公司向社会公开发行面值总额 20,400 万元可转换公司债券，每张面值 100 元，共 计 204 万张，期限 6 年。本次发行的可转换公司债券票面利率分别为第一年 0.4%、 第二年 0.6%、第三年 1.0%、第四年 1.5%、第五年 2.5%、第六年 3 ...

证券代码：605166 证券简称：聚合顺 公告编号：2025-058 转债代码：111003 转债简称：聚合转债 转债代码：111020 转债简称：合顺转债 聚合顺新材料股份有限公司 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0.133元（含税） ? 相关日期 | 股份类别 | 股权登记日 | | 最后交易日 | 现金红利发放 除权（息）日 | | --- | --- | --- | --- | --- | | | | | | 日 | | Ａ股 | 2025/6/19 | － | 2025/6/20 | 2025/6/20 | ? 差异化分红送转： 否 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经聚合顺新材料股份有限公司（以下简称"公司"）2025 年 四、 分配实施办法 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。 本次利润分配以方案实施前的 ...

| 证券代码：605166 | 证券简称：聚合顺 | 公告编号：2025-059 | | --- | --- | --- | | 转债代码：111003 | 转债简称：聚合转债 | | | 转债代码：111020 | 转债简称：合顺转债 | | 聚合顺新材料股份有限公司 关于利润分配调整可转债转股价格的公告 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： | 证券代码 | 证券简称 | 停复牌类型 | 停牌起始 日 | 停牌 期间 | 停牌终止日 | 复牌日 | | --- | --- | --- | --- | --- | --- | --- | | 111003 | 聚合转债 | 可转债转股复牌 | | | 2025/6/19 | 2025/6/20 | | 111020 | 合顺转债 | 可转债转股复牌 | | | 2025/6/19 | 2025/6/20 | 一、可转债基本情况 （一）"聚合转债"基本情况 经中国证券监督管理委员会《关于核准杭州聚合顺新材料股份有限公司公开 发行可转换公司债券的批复》（ ...

每股分配比例 A 股每股现金红利0.133元（含税） | 证券代码:605166 | | --- | | 转债代码:111003 | | 转债代码:111020 | 转债代码：111003 转债简称：聚合转债 转债代码：111020 转债简称：合顺转债 证券代码：605166 证券简称：聚合顺 公告编号：2025-058 聚合顺新材料股份有限公司 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： 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 | 2025/6/19 | － | 2025/6/20 | 2025/6/20 | 差异化分红送转： 否 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经聚合顺新材料股份有限公司（以下简称"公司"）2025 年 4 月 30 日召开的2024年年度股东大会审议通过。 二、 分配方案 1 ...

国泰海通证券股份有限公司 关于聚合顺新材料股份有限公司 新增日常关联交易预计的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"、"保荐机构"）作为聚合 顺新材料股份有限公司（以下简称"聚合顺"、"公司"）的保荐机构，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》及《上海证券交易所上市公司自律监管 指引第 11 号——持续督导》等有关规定，对聚合顺 2025 年度新增日常关联交易预 计事项进行了核查，情况如下： 一、新增日常关联交易基本情况 经第四届董事会第三次会议和第四届监事会第三次会议审议通过，公司或公司 控股子公司将向关联方永昌（天门）新材料有限公司（以下简称"永昌天门"）销 售公司产品，该事项将构成新增日常关联交易。本次交易基本情况和预计金额如下： | | | | 本年年初至披露 | | 本次预计金额 | | --- | --- | --- | --- | --- | --- | | 关联交易 | 关联交易对 | 2025年预计 | 日与该关联方累 | 2024年实际 | 与上年实际发 | | 类别 | 象 | ...

日常关联交易对上市公司的影响：本次新增日常关联交易系公司及合并 报表范围内的子公司与永昌（天门）新材料有限公司日常经营相关。关联 交易的发生符合公司业务发展的需求，关联交易符合法律法规及制度的规 定，交易行为是在公平原则下合理进行，有利于公司的发展，没有损害本 公司及股东的利益，不会对关联人形成依赖，亦不会对公司独立性构成影 响。 | 证券代码：605166 | 证券简称：聚合顺 | 公告编号：2025-056 | | --- | --- | --- | | 转债代码：111003 | 转债简称：聚合转债 | | | 转债代码：111020 | 转债简称：合顺转债 | | 聚合顺新材料股份有限公司 关于 2025 年度日常关联交易预计的公告 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： 是否需要提交股东会审议：预计公司及合并报表范围内的子公司发生的 日常关联交易总额不超过人民币 9,000 万元，该金额未超过公司 2024 年度 经审计归属于母公司股东净资产的 5%，无需提交公司股东大会审议。 一、日常关联交 ...