从资金流向上来看，当日橡胶板块主力资金净流入3937.77万元，游资资金净流入7645.4万元，散户资金 净流出1.16亿元。橡胶板块个股资金流向见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | | 成交额(元) | | --- | --- | --- | --- | --- | --- | --- | | 831834 | 一维装备 | 26.00 | 30.00% | | 14.17万 | 3.32亿 | | 300731 | 科创新源 | 49.72 | 9.39% | | 22.88万 | 11.22亿 | | 603033 | 三维股份 | 13.22 | 6.27% | | 29.92万 | 3.92亿 | | 300767 | 震安科技 | 23.70 | 5.52% | 1 | 31.63万 | 7.54亿 | | 002224 | 三力士 | 4.68 | 2.86% | | 80.59万 | 3.83亿 | | 603650 | 彤程新材 | 35.62 | 1.16% | | 22.68万 | 8.15亿 | | 300121 | 阳谷华泰 | 15.96 | ...

证券代码：605183 证券简称：确成股份 公告编号：2025-041 确成硅化学股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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 会议召开时间：2025 年 09 月 29 日 （星期一） 13:00-14:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 （一） 会议召开时间：2025 年 09 月 29 日 （星期一） 13:00-14:00 （二） 会议召开地点：上证路演中心 （三） 会议召开方式：上证路演中心网络互动 三、 参加人员 董事长兼总经理：阙伟东 董事会秘书兼财务总监：王今 独立董事：章贵桥 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。 ...

证券之星消息，9月12日橡胶板块较上一交易日下跌0.61%，利通科技领跌。当日上证指数报收于 3883.69，上涨0.22%。深证成指报收于12996.38，上涨0.13%。橡胶板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 300121 | 阳谷华泰 | 15.74 | 5.85% | 24.51万 | | 3.72亿 | | 301300 | 远翔新材 | 40.88 | 1.49% | 8829.17 | | 3586.36万 | | 300767 | 震安科技 | 22.26 | 1.37% | 14.29万 | | 3.16亿 | | 603650 | 彤程新材 | 35.34 | 1.29% | 8.33万 | | 2.91亿 | | 001207 | 联科科技 | 23.89 | 1.01% | 2.87万 | | 6825.30万 | | 301459 | 丰茂股份 | 44.38 | 0.75% | 9596.8 | | 4251.76万 ...

证券之星消息，9月10日橡胶板块较上一交易日下跌0.34%，三维装备领跌。当日上证指数报收于 3812.22，上涨0.13%。深证成指报收于12557.68，上涨0.38%。橡胶板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 300731 | 科创新源 | 45.01 | 4.38% | 13.61万 | 6.13亿 | | 300587 | 天铁科技 | 8.96 | 2.28% | 42.25万 | 3.76亿 | | 002068 | 黑猫股份 | 11.50 | 1.32% | 31.18万 | 3.57亿 | | 001207 | 联科科技 | 23.30 | 1.22% | - 3.35万 | 7798.44万 | | 300767 | 震安科技 | 20.39 | 0.54% | 9.66万 | 1.97亿 | | 002224 | 三力士 | 4.48 | 0.45% | 12.50万 | 5578.43万 | | 300320 | 海达股份 | 10.77 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% relative to the industry index within the next six months [4][18]. Core Views - The company is expected to achieve stable overall profitability in the first half of 2025, supported by the gradual ramp-up of new production capacity [1][9]. - The company’s revenue for the first half of 2025 is reported at 1.113 billion yuan, a year-on-year increase of 3.87%, while the net profit attributable to shareholders is 276 million yuan, up 5.44% year-on-year [1][2]. - The report highlights that the company is leveraging increased production volume to offset price declines due to raw material cost fluctuations, resulting in stable gross margins [2][9]. Financial Summary - Revenue projections for the company are as follows: 2025E at 2.438 billion yuan, 2026E at 2.730 billion yuan, and 2027E at 3.004 billion yuan, with year-on-year growth rates of 10.9%, 12.0%, and 10.0% respectively [1][9]. - Net profit attributable to shareholders is projected to be 578 million yuan in 2025E, 666 million yuan in 2026E, and 776 million yuan in 2027E, with corresponding growth rates of 6.9%, 15.2%, and 16.5% [1][9]. - The report indicates a stable return on equity (ROE) forecasted at 15.3% for 2025E, 15.5% for 2026E, and 15.7% for 2027E [1][9]. Production and Capacity Expansion - The company is expected to gradually release new production capacity, with significant projects nearing completion, including a 70,000-ton water glass project and a 25,000-ton high-dispersion silica project in Thailand [8][9]. - The report notes that the company has already achieved commercial supply of biomass (rice husk) high-dispersion silica, enhancing its production capacity advantage [9]. Market Position and Competitive Advantage - The new projects are anticipated to strengthen the company's competitive position in the market, particularly in the biomass silica segment, while expanding its product offerings [9]. - The company’s stock is currently valued at a price-to-earnings (P/E) ratio of 15.6 for 2024A, decreasing to 10.9 by 2027E, indicating potential for valuation improvement as earnings grow [1][9].

Investment Rating - The report maintains an "Outperform" rating for the company [8]. Core Insights - The company reported a record high revenue and sales volume in Q2, with a slight decrease in net profit year-on-year due to foreign exchange impacts [8]. - The company’s silica sales have shown steady growth, supported by product structure optimization and new capacity releases in Fujian [8]. - The company is expanding its product lines, including high-dispersion silica and biomass silica, which are gaining traction in the market [8]. - The company has plans for a new biomass silica project with an estimated investment of 900 million yuan, aiming to meet long-term customer demand [8]. - The company’s profitability is expected to grow, with projected net profits of approximately 599 million, 660 million, and 721 million yuan for 2025, 2026, and 2027 respectively [8]. Financial Data and Profit Forecast - Total revenue is projected to reach 2,540 million yuan in 2025, with a year-on-year growth rate of 15.6% [2]. - The net profit attributable to the parent company is expected to be 599 million yuan in 2025, reflecting a growth rate of 10.8% [2]. - The gross margin is forecasted to be 34.4% in 2025, slightly improving to 35.0% by 2027 [2]. - The company’s earnings per share (EPS) is projected to be 1.44 yuan in 2025, increasing to 1.73 yuan by 2027 [2]. Market Data - The closing price of the company’s stock was 20.85 yuan as of August 22, 2025, with a market capitalization of 8,599 million yuan [3]. - The company has a price-to-earnings (P/E) ratio of 14 for 2025, which is expected to decrease to 12 by 2027 [2][3].

Core Viewpoint - The company reported a steady growth in revenue and net profit for the first half of 2025, driven by increased production capacity and favorable market conditions in the tire industry [1][2]. Financial Performance - In H1 2025, the company achieved operating revenue of 1.11 billion yuan, a year-on-year increase of 3.9%, and a net profit attributable to shareholders of 280 million yuan, up 5.4% year-on-year [1]. - For Q2 2025, the company recorded operating revenue of 570 million yuan, with year-on-year and quarter-on-quarter growth of 4.5% and 6.2%, respectively [1]. - The company produced 184,000 tons of silica in H1 2025, a 3.9% increase year-on-year, with sales volume also reaching 184,000 tons, up 4.2% year-on-year [1]. Market Conditions - The decline in raw material prices, specifically soda ash and quartz sand, positively impacted the company's performance, with soda ash prices in East China dropping by 37% year-on-year in Q2 2025 [2]. - Despite a 1.2% year-on-year decrease in the average selling price of silica, the company managed to adjust its product mix, leading to a slight recovery in Q2 2025 prices [2]. Growth Initiatives - The company announced a planned investment of 900 million yuan in a biomass silica project, which is expected to enhance long-term growth potential [2]. - The expansion of production capacity is anticipated to support future growth in demand for high-dispersion silica driven by the increasing adoption of green tires [3]. Profit Forecast and Valuation - The company is projected to achieve operating revenues of 2.46 billion, 2.95 billion, and 3.52 billion yuan for 2025, 2026, and 2027, respectively, with corresponding net profits of 590 million, 690 million, and 820 million yuan [3]. - The estimated price-to-earnings (PE) ratios for the years 2025, 2026, and 2027 are 15, 13, and 11 times, respectively, maintaining a strong buy recommendation [3].

Financial Performance - The company reported a total revenue of 1.113 billion yuan for the first half of 2025, representing a year-on-year increase of 3.87% [1] - The net profit attributable to shareholders reached 276 million yuan, up 5.44% year-on-year [1] - In Q2 2025, total revenue was 573 million yuan, showing a 4.47% increase compared to the same quarter last year, while net profit decreased by 0.82% to 138 million yuan [1] - The gross margin improved by 8.74% to 35.66%, and the net margin increased by 1.45% to 24.79% [1] Cost and Expenses - Total selling, administrative, and financial expenses amounted to 32.7134 million yuan, accounting for 2.94% of revenue, which is a significant increase of 126.33% year-on-year [1] - The company’s earnings per share (EPS) increased by 6.35% to 0.67 yuan, and the operating cash flow per share rose by 56.95% to 0.81 yuan [1] Asset and Investment Changes - Long-term equity investments increased by 175.93% due to an additional investment of 22 million yuan [3] - Other payables surged by 3248.2% due to unpaid dividends of 124.16 million yuan from the previous year's shareholder meeting [3] - The net cash flow from operating activities increased by 56.38% due to higher revenue and improved customer payment collection [3] Cash Flow and Financing - The net cash flow from financing activities rose by 118.72%, attributed to the announcement of unpaid dividends and share buybacks from the previous year [4] - The company’s return on invested capital (ROIC) was 15.5%, indicating strong capital returns [4] Market Position and Analyst Expectations - Analysts expect the company to achieve a revenue of 577 million yuan for 2025, with an average EPS forecast of 1.39 yuan [4] - The company has a high accounts receivable ratio, with accounts receivable reaching 86.21% of profits, suggesting a need for monitoring [4] Fund Holdings - The largest fund holding the company’s shares is the Innovation Growth LOF, which has reduced its holdings to 2.2346 million shares [5] - Several funds have newly entered the top ten holdings of the company, indicating growing interest from institutional investors [5]

Group 1 - The stock price of Qu Cheng Co., Ltd. closed at 20.85 yuan on August 22, down 0.98 yuan, a decrease of 4.49% from the previous trading day [1] - The trading volume on that day was 111,218 hands, with a transaction amount of 232 million yuan, resulting in a turnover rate of 2.70% [1] - Qu Cheng Co., Ltd. is primarily engaged in the research, production, and sales of rubber products, which are widely used in the automotive and engineering machinery sectors [1] Group 2 - The company is recognized as a specialized and innovative enterprise in Jiangsu Province and has been included in the pension fund holding list [1] - According to a report released by Xinda Securities on August 22, the company received a buy rating, highlighting stable production and sales, with quarterly sales reaching a new high [1] - The report also noted that the core operating indicators remain relatively stable, indicating resilience against raw material price fluctuations, and that the increasing penetration of new energy vehicles will drive demand for green tires [1]

Core Insights - The company reported a total revenue of 1.113 billion yuan for the first half of 2025, marking an increase of 41.507 million yuan or 3.87% year-on-year, achieving two consecutive years of growth [1] - The net profit attributable to shareholders reached 276 million yuan, an increase of 14.235 million yuan or 5.44% year-on-year, also achieving two consecutive years of growth [1] - The net cash inflow from operating activities was 336 million yuan, up by 121 million yuan or 56.38% year-on-year, continuing a trend of two consecutive years of growth [1] Financial Metrics - The latest gross profit margin stands at 35.66%, an increase of 1.08 percentage points from the previous quarter, marking eight consecutive quarters of growth, and up by 2.87 percentage points year-on-year [2] - The return on equity (ROE) is reported at 7.88% [2] - The diluted earnings per share (EPS) is 0.67 yuan, an increase of 0.04 yuan or 6.35% year-on-year, achieving two consecutive years of growth [2] - The total asset turnover ratio is 0.28 times, and the inventory turnover ratio is 3.00 times [2] Shareholder Structure - The number of shareholders is 13,700, with the top ten shareholders holding a total of 325 million shares, accounting for 78.08% of the total share capital [2] - The largest shareholder is 华威国际发展有限公司 with a holding of 59.5 million shares [2] Debt Position - The company's latest debt-to-asset ratio is 14.15% [3]