Investment Rating - The report maintains an "Outperform" rating for the chemical industry, indicating a positive outlook based on expected economic recovery and demand improvement [1]. Core Insights - The basic chemical industry is expected to see a recovery in profitability, with 2024 revenues projected to reach CNY 2,219.98 billion, a year-on-year increase of 2.66%, while net profit is expected to decline by 8.18% to CNY 108.87 billion [6][26]. - The oil and petrochemical sector is anticipated to maintain stable revenues and profits, with 2024 revenues estimated at CNY 7,941.40 billion, a decrease of 2.81%, and net profit expected to grow by 0.58% to CNY 372.14 billion [1][26]. - The report highlights that 23 out of 33 sub-industries in the basic chemical sector experienced revenue growth in 2024, with significant increases in chlor-alkali and textile chemicals [6][15]. Summary by Sections Industry Overview - The basic chemical industry is experiencing a decline in profitability, with gross and net profit margins at 16.27% and 5.13%, respectively, both down from 2023 [26]. - The report notes that the industry has been in a continuous decline in profitability from 2022 to 2024, but signs of stabilization are emerging [26]. Sub-Industry Performance - In 2024, chlor-alkali and textile chemicals showed the highest profit growth rates at 262.84% and 125.27%, respectively [15][26]. - Conversely, non-metallic materials and other plastic products faced significant profit declines of 79.24% and 67.49% [15][26]. Quarterly Analysis - For Q4 2024, the basic chemical industry reported revenues of CNY 565.72 billion, a year-on-year increase of 5.15%, but a quarter-on-quarter decline of 0.90% [6][7]. - Net profit for Q4 2024 was CNY 14.16 billion, down 10.73% year-on-year and 51.03% quarter-on-quarter [6][7]. Investment Recommendations - The report suggests focusing on companies in rapidly developing downstream sectors, particularly in new materials, energy security, and policy-driven demand recovery [1][26]. - Recommended companies include China National Petroleum, China National Offshore Oil, and various technology firms in the semiconductor and new energy materials sectors [1][26].

证券代码：605589 证券简称：圣泉集团 公告编号：2025-054 济南圣泉集团股份有限公司 关于股东大会开设网络投票提示服务的公告 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。 济南圣泉集团股份有限公司（以下简称"公司"）于 2025 年 5 月 公司拟于 2025 年 5 月 22 日召开 2025 年第二次临时股东大会，本次股东大会所采用 现场投票和网络投票相结合的表决方式。具体内容详见公司在上海证 券交易所网站（www.sse.com.cn）披露的《关于召开 2025 年第二次 临时股东大会的通知》 （公告编号：2025-051） 为更好的服务广大中小投资者，确保有投票意愿的中小投资者能 够及时参会、及时投票。公司拟使用上证所信息网络有限公司（以下 简称"上证信息"）提供的股东大会提醒服务，委托上证信息通过 5G 阅读、短信等形式，根据股权登记日的股东名册主动提醒股东参会投 票，向每一位投资者主动推送股东会参会邀请、议案情况等信息。投 资者在收到推送信息后，可根据使用手册（下载链接： https://vote.s ...

济南圣泉集团股份有限公司 关于股东大会开设网络投票提示服务的公告 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。 证券代码：605589 证券简称：圣泉集团 公告编号：2025-054 特此公告。 济南圣泉集团股份有限公司 董事会 2025 年 5 月 20 日 济南圣泉集团股份有限公司（以下简称"公司"）于 2025 年 5 月 7日披露关于召开 2025年第二次临时股东大会的通知，公司拟于2025 年 5 月 22 日召开 2025 年第二次临时股东大会，本次股东大会所采用 现场投票和网络投票相结合的表决方式。具体内容详见公司在上海证 券交易所网站（www.sse.com.cn）披露的《关于召开 2025 年第二次 临时股东大会的通知》（公告编号：2025-051）。 为更好的服务广大中小投资者，确保有投票意愿的中小投资者能 够及时参会、及时投票。公司拟使用上证所信息网络有限公司（以下 简称"上证信息"）提供的股东大会提醒服务，委托上证信息通过 5G 阅读、短信等形式，根据股权登记日的股东名册主动提醒股东参会投 票，向每一 ...

Investment Rating - The report maintains an "Accumulate-A" rating for the company [4][9]. Core Views - The company achieved a revenue of 10.02 billion yuan in 2024, representing a year-on-year growth of 9.87%, and a net profit attributable to shareholders of 868 million yuan, up 9.94% year-on-year [4]. - In Q1 2025, the company reported a revenue of 2.46 billion yuan, a 15.14% increase year-on-year, while the net profit attributable to shareholders reached 207 million yuan, marking a significant year-on-year growth of 50.46% [4][5]. - The sales volume of synthetic resin products has been steadily increasing, with a revenue of 5.34 billion yuan in 2024, up 4.33% year-on-year, and a sales volume of 695,600 tons, up 8.85% year-on-year [5][6]. Financial Performance - The company is projected to achieve revenues of 11.78 billion yuan, 13.05 billion yuan, and 14.22 billion yuan for the years 2025, 2026, and 2027, respectively, with year-on-year growth rates of 17.6%, 10.7%, and 8.9% [9][11]. - The net profit attributable to shareholders is expected to be 1.18 billion yuan, 1.45 billion yuan, and 1.68 billion yuan for the same years, reflecting growth rates of 36.1%, 22.7%, and 16.0% [9][11]. - The report indicates an increase in gross margin from 23.0% in 2023 to 24.7% in 2025, with a projected net profit margin of 10.0% in 2025 [11][12]. Market Performance - As of May 16, 2025, the company's closing price was 26.95 yuan, with a year-to-date high of 32.01 yuan and a low of 17.14 yuan [3]. - The total market capitalization of the company is 22.81 billion yuan, with a circulating market value of 21.05 billion yuan [3].

Investment Rating - The report maintains an "Accumulate-A" rating for the company [4][9]. Core Views - The company achieved a revenue of 10.02 billion yuan in 2024, representing a year-on-year growth of 9.87%, and a net profit attributable to shareholders of 868 million yuan, up 9.94% year-on-year [4]. - In Q1 2025, the company reported a revenue of 2.46 billion yuan, a 15.14% increase year-on-year, and a net profit of 207 million yuan, which is a significant growth of 50.46% year-on-year [4][5]. - The sales volume of synthetic resin products has been steadily increasing, with a revenue of 5.34 billion yuan in 2024, up 4.33% year-on-year, and a sales volume of 695,600 tons, up 8.85% year-on-year [5][6]. - The advanced electronic materials and battery materials sectors are experiencing rapid growth, driven by the demand for AI computing power and high-energy-density batteries [6][9]. Financial Data and Projections - The company is projected to achieve revenues of 11.78 billion yuan, 13.05 billion yuan, and 14.22 billion yuan for the years 2025, 2026, and 2027, respectively, with year-on-year growth rates of 17.6%, 10.7%, and 8.9% [9][11]. - The net profit attributable to shareholders is expected to reach 1.18 billion yuan, 1.45 billion yuan, and 1.68 billion yuan for the same years, with growth rates of 36.1%, 22.7%, and 16.0% [9][11]. - The report indicates an increase in the gross profit margin from 23.0% in 2023 to 24.7% in 2025, reflecting improved operational efficiency [11][12].

Core Insights - Jinan is focusing on building a modern industrial system characterized by "four beams, three supports, and four pillars," which includes key industries such as automotive manufacturing, electronic information, high-end equipment, and biomedicine [1][13] - The city aims to cultivate ten iconic industrial clusters, forming a "10+N" industrial matrix, and is prioritizing emerging fields like artificial intelligence, quantum technology, and low-altitude economy [1][13] - Jinan's economic performance is projected to improve, with a GDP of 13,527.6 billion yuan in 2024, reflecting a 5.4% year-on-year growth [3] Industrial Structure and Economic Performance - Jinan's industrial structure is evolving, with the primary industry contributing 440.0 billion yuan (3.6% growth), the secondary industry at 4,519.2 billion yuan (5.8% growth), and the tertiary industry at 8,568.4 billion yuan (5.2% growth), leading to a service-oriented economy [3][5] - The city has implemented over 2,000 industrial investment projects, with a focus on automotive manufacturing and electronic information, resulting in a 6.5% increase in industrial output value for 2024 [5] Innovation and Technology Development - Jinan is enhancing its innovation capabilities, with 1,189 new innovative SMEs and 720 specialized and innovative enterprises established in 2024 [7][8] - The city has made significant progress in building high-energy innovation platforms, including the Chinese Academy of Sciences Jinan Innovation City and the Shandong Institute of Industrial Technology [7] New Quality Productive Forces - The concept of "New Quality Productive Forces" was introduced by President Xi Jinping, emphasizing innovation-driven development and advanced production characteristics [2][10] - Jinan's government has launched several policies to support the development of new quality productive forces, including action plans for aerospace information and innovative pharmaceuticals [10][11] Future Industry Layout - Jinan is actively positioning itself in future industries, particularly in aerospace information, low-altitude economy, and quantum technology, with plans for significant infrastructure development [28] - The city aims to create a national-level future industry innovation demonstration zone, focusing on high-tech sectors and sustainable development [28] Key Enterprises and Sectors - Major companies in Jinan include Inspur Group in information technology, Qilu Pharmaceutical in biomedicine, and China National Heavy Duty Truck Group in high-end equipment manufacturing [20][21] - The automotive sector is represented by companies like BYD and Geely, which are driving the growth of the new energy vehicle industry in the region [20][21]

Core Viewpoint - The Shandong Provincial Department of Industry and Information Technology has released the list of manufacturing pilot platforms for 2025, with nine platforms selected, including the Shandong Biopharmaceutical Pilot Platform led by Qilu Pharmaceutical Co., Ltd. [1] Group 1: Overview of Pilot Platforms - The establishment of manufacturing pilot platforms is a new initiative in Shandong Province aimed at supporting the transition of new products from trial production to mass production [1] - The pilot platforms are collaborative entities formed by enterprises, professional institutions, universities, and research institutes, driven by market mechanisms [1] Group 2: Selected Platforms in Jinan - Jinan City has four selected pilot platforms, ranking first in the province, which include: - Shandong Biopharmaceutical Pilot Platform by Qilu Pharmaceutical Co., Ltd. - Shandong Medical Equipment Pilot Platform by Boke Holdings Group Co., Ltd. - Shandong Functional Special Resin Pilot Platform by Shandong Shengquan New Materials Co., Ltd. - Shandong Integrated Circuit Pilot Platform by Jinan Jinggu Research Institute [4] - These platforms focus on key areas such as biomedicine, medical equipment, advanced materials, and integrated circuits, addressing the innovation needs of Shandong's manufacturing sector [4] Group 3: Future Development Plans - The Jinan Municipal Bureau of Industry and Information Technology plans to enhance support services for technological innovation platforms, leveraging pilot platforms and innovation centers to drive technology research and development, achievement transformation, and industry-academia-research collaboration [4] - The goal is to create a more systematic and ecological pilot service network, promoting sustainable development of pilot services and facilitating breakthroughs in traditional, emerging, and future industries [4]

圣泉集团 2025 年第二次临时股东大会会议资料 济南圣泉集团股份有限公司 会议资料 为维护全体股东的合法权益，确保股东大会的正常秩序和议事效率， 保证大会顺利进行，济南圣泉集团股份有限公司（以下简称"公司"或 "圣泉集团"）根据《中华人民共和国公司法》 （以下简称" 《公司法》 "） 《济南圣泉集团股份有限公司股东大会议事规则》《济南圣泉集团股份 有限公司章程》 二〇二五年五月二十二日召开 圣泉集团 2025 年第二次临时股东大会会议资料 济南圣泉集团股份有限公司 议案一：关于《济南圣泉集团股份有限公司 2025 年员工持股计划（草案）》及 议案二：关于《济南圣泉集团股份有限公司 2025 年员工持股计划管理办法》的 议案三：关于提请股东大会授权董事会办理公司 2025 年员工持股计划有关事项 圣泉集团 2025 年第二次临时股东大会会议资料 济南圣泉集团股份有限公司 各位股东及股东代表： （以下简称" 《公司章程》" ）等有关规定，制定本须知， 望出席本次股东大会的全体人员遵照执行。 一、公司负责本次股东大会的议程安排和会务工作，出席会议人员 应当听从公司工作人员安排，共同维护好会议秩序。 二、出席股东大 ...

证券代码：605589 证券简称：圣泉集团 公告编号：2025-053 济南圣泉集团股份有限公司 关于参加 2025 年山东辖区上市公司投资者 网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 为进一步加强与投资者的互动交流，济南圣泉集团股份有限公司 （以下简称"公司"）将参加由山东证监局、山东上市公司协会与深 圳市全景网络有限公司联合举办的"2025 年山东辖区上市公司投资 者网上集体接待日活动"，现将相关事项公告如下： 特此公告。 济南圣泉集团股份有限公司 2025 年 5 月 14 日 本次活动将采用网络远程的方式举行，投资者可登录"全景路演" 网站（http://rs.p5w.net）；或关注微信公众号（名称：全景财经）； 或下载全景路演 APP,参与本次互动交流。活动时间为 2025 年 5 月 15 日（周四）15:00-16:30。届时公司高管将在线就公司 2024 年度和 2025 年第 1 季度业绩、公司治理、发展战略、经营状况、股权激励 和可持续发展等投资者关心的问题，与投资者进行沟通与交流，欢迎 广大投资者踊跃参与 ...

济南圣泉集团股份有限公司 2025 年第二次临时股东大会 会议资料 二〇二五年五月二十二日召开 1 圣泉集团 2025 年第二次临时股东大会会议资料 济南圣泉集团股份有限公司 2025 年第二次临时股东大会文件目录 圣泉集团 2025 年第二次临时股东大会会议资料 | 济南圣泉集团股份有限公司 2025 年第二次临时股东大会会议须知 3 | | --- | | 济南圣泉集团股份有限公司 2025 年第二次临时股东大会会议议程 6 | | 议案一：关于《济南圣泉集团股份有限公司 2025 年员工持股计划（草案）》及 | | 其摘要的议案 8 | | 议案二：关于《济南圣泉集团股份有限公司 2025 年员工持股计划管理办法》的 | | 议案 9 | | 议案三：关于提请股东大会授权董事会办理公司 2025 年员工持股计划有关事项 | | 的议案 10 | 2 圣泉集团 2025 年第二次临时股东大会会议资料 济南圣泉集团股份有限公司 2025 年第二次临时股东大会会议须知 各位股东及股东代表： 为维护全体股东的合法权益，确保股东大会的正常秩序和议事效率， 保证大会顺利进行，济南圣泉集团股份有限公司（以下简称"公司 ...