Investment Rating - The report maintains a rating of "B" for the new materials sector, indicating a leading position in the market [2]. Core Insights - The new materials sector has experienced a decline, with the new materials index falling by 0.31%, underperforming compared to the ChiNext index which dropped by 2.67% [4]. - The report highlights the potential of Direct Air Capture (DAC) technology, which has been recognized by the Shanghai government as a key technology for 2025, suggesting significant market opportunities in domestic adsorption materials and equipment [7]. Market Performance - The new materials sector saw varied performance across sub-sectors: - Synthetic biology index decreased by 0.51% - Semiconductor materials fell by 4.74% - Electronic chemicals dropped by 1.54% - Biodegradable plastics increased slightly by 0.02% - Industrial gases decreased by 1.20% - Battery chemicals surged by 13.36% [4][19]. Price Tracking - Weekly price changes for key chemical products include: - Valine: 12,750 CNY/ton (-1.92%) - Arginine: 22,900 CNY/ton (-1.08%) - Tryptophan: 39,500 CNY/ton (-4.82%) - Methionine: 22,050 CNY/ton (-0.68%) - PLA (injection grade): 17,800 CNY/ton (unchanged) - PLA (blown film grade): 17,200 CNY/ton (unchanged) [5]. Investment Recommendations - The report suggests focusing on DAC technology and related materials and equipment, highlighting companies such as Blue Sky Technology, Jianlong Micro-Nano, and Xizhuang Co., among others, as potential investment opportunities [8].

Market Trends - The domestic market indices showed a decline, with the Shanghai Composite Index closing at 3,813.56, down 1.16% [4] - The New Materials sector index increased by 3.72%, underperforming the ChiNext Index by 4.01% [5] Industry Commentary - The State Council's issuance of the "Artificial Intelligence +" action plan is expected to drive rapid development in AI new materials [5] - The FDA's plan to phase out synthetic food colorings is likely to benefit domestic natural colorant companies due to a surge in demand [8] Company Analysis - **Yara International (000893.SZ)**: The company reported a 48.5% year-on-year increase in revenue to 2.52 billion yuan and a 216.6% increase in net profit to 850 million yuan for H1 2025, driven by rising potassium fertilizer prices and sales [10] - **Jianlong Micro-Nano**: The company achieved a revenue of 378 million yuan in H1 2025, a 0.33% increase year-on-year, with a focus on expanding its product matrix and overseas growth [11] - **Xianlead Intelligent (300450.SZ)**: The company reported a strong rebound in order volume for H1 2025, with revenue expected to grow significantly due to the recovery of the lithium battery sector [14] - **Zhejiang Rongtai (603119.SH)**: The company is focusing on the development of humanoid robots and reported steady growth in its main business [26] - **Qingda Environmental Protection (688501.SH)**: The company’s performance met expectations, with AI applications in the thermal power sector expected to exceed forecasts [29] Investment Recommendations - The AI server market is projected to grow from $125.1 billion in 2024 to $158.7 billion in 2025, with significant growth in China's AI computing market anticipated [5] - Domestic natural colorant companies are recommended for investment due to the expected demand surge from the FDA's synthetic colorant phase-out [8] - Yara International is expected to achieve net profits of 1.89 billion, 2.54 billion, and 3.52 billion yuan from 2025 to 2027, with a corresponding PE ratio of 16, 12, and 9 [10] - Jianlong Micro-Nano is expected to enhance its capabilities through strategic acquisitions and product development [11]

Investment Rating - The report assigns a "Buy-B" rating for the company, indicating a positive outlook based on expected growth and strategic developments [3][8]. Core Insights - The company reported a revenue of 378 million yuan for the first half of 2025, a year-on-year increase of 0.33%, and a net profit of 49 million yuan, up 4.91% year-on-year [3]. - The second quarter of 2025 saw a revenue of 201 million yuan, reflecting an 8.32% increase year-on-year, with net profit rising significantly by 57.60% to 23 million yuan [3][4]. - The company is focusing on optimizing its product structure and enhancing cost control to maintain operational stability amid industry fluctuations [4]. - The Thai base has emerged as a new growth engine, with revenue from this segment reaching 57.47 million yuan, a 47.89% increase year-on-year [5]. - The planned acquisition of Shanghai Hanheng Energy is expected to strengthen the company's capabilities in providing integrated solutions in the petrochemical and energy sectors [6]. Financial Performance - The company is projected to achieve revenues of 891 million yuan, 1.021 billion yuan, and 1.169 billion yuan for the years 2025, 2026, and 2027, respectively, with year-on-year growth rates of 14.45%, 14.51%, and 14.56% [8]. - Net profit forecasts for the same years are 109 million yuan, 128 million yuan, and 147 million yuan, with growth rates of 45.72%, 17.28%, and 14.79% [8]. - The earnings per share (EPS) are expected to be 1.09 yuan, 1.28 yuan, and 1.47 yuan for 2025, 2026, and 2027, respectively, with corresponding price-to-earnings (P/E) ratios of 29.78, 25.39, and 22.12 [8]. Business Strategy - The company is enhancing its product offerings in sustainable aviation fuel (SAF), carbon capture, and other emerging fields, which are expected to contribute to future growth [5]. - The integration of material customization, equipment matching, and process package delivery is a strategic focus, aiming to create a comprehensive service model for the energy and chemical industries [6].

Market Overview - The Shanghai Composite Index closed at 3844.84 points, with a decline of 0.79% [1] - The total trading volume of A-shares reached 1,930.44 billion yuan [1] Stocks with Death Cross - A total of 43 A-shares experienced a death cross, where the 5-day moving average fell below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Zhongma Transmission (603767) with a distance of -3.93% [1] - Jifeng Technology (300022) with a distance of -1.30% [1] - Canqin Technology (688182) with a distance of -1.28% [1] Individual Stock Performance - Zhongma Transmission (603767) saw a decrease of 0.82% with a latest price of 29.01 yuan, which is 8.91% below the 10-day moving average [1] - Jifeng Technology (300022) decreased by 2.12%, latest price at 8.30 yuan, 4.39% below the 10-day moving average [1] - Canqin Technology (688182) dropped by 6.45%, latest price at 25.68 yuan, 7.56% below the 10-day moving average [1] - Other notable declines include: - Meiai Technology (688376) down 4.72% [1] - Jingxin Pharmaceutical (002020) down 2.82% [1] - Zhongyuan Media (000719) down 1.36% [1] Additional Stocks with Death Cross - Other stocks showing a death cross include: - Guomai Technology (002093) down 5.22% [2] - Nanfang Pump Industry (300145) down 5.30% [2] - ST Diweixun (300167) down 1.59% [2] - Aerospace Development (000547) down 3.00% [2] - The performance of these stocks indicates a broader trend of declining prices among companies experiencing a death cross [2]

Core Viewpoint - Jianlong Micro-Nano (688357) reported a slight increase in revenue and net profit for the first half of 2025, indicating improved profitability and operational efficiency [1] Financial Performance - Total revenue for the reporting period reached 378 million yuan, a year-on-year increase of 0.33% - Net profit attributable to shareholders was 48.68 million yuan, up 4.91% year-on-year - In Q2 2025, total revenue was 201 million yuan, reflecting an 8.32% increase year-on-year, while net profit for the quarter was 23.27 million yuan, a significant rise of 57.6% [1] - Gross margin improved by 4.28% to 31.5%, and net margin increased by 4.56% to 12.88% [1] - Total selling, administrative, and financial expenses amounted to 48.09 million yuan, accounting for 12.72% of revenue, with a year-on-year increase of 4.27% [1] - Earnings per share rose to 0.49 yuan, a 6.52% increase year-on-year, while operating cash flow per share surged by 148.64% to 0.45 yuan [1] Investment Metrics - The company's return on invested capital (ROIC) was 3.03% last year, indicating weak capital returns, with a historical median ROIC of 7.27% since its IPO [2] - The net profit margin was reported at 9.6%, suggesting average value addition from products or services [2] - The company has experienced two loss years since its IPO, indicating a fragile business model [2] Debt and Cash Flow - The company maintains a healthy cash asset position, but there are concerns regarding cash flow, with a negative average operating cash flow to current liabilities ratio of -1.35% over the past three years [2] - The interest-bearing debt ratio stands at 23.67%, and financial expenses have reached 127.27% of the average operating cash flow over the past three years [2] - Accounts receivable have reached 176.79% of profit, raising concerns about collection efficiency [2] Analyst Expectations - Analysts project the company's performance for 2025 to reach 106 million yuan, with an average earnings per share estimate of 1.06 yuan [3] Fund Holdings - Notable fund managers, including Yang Gu from Nuon Fund, have increased their holdings in Jianlong Micro-Nano, indicating confidence in the company's potential [4] - The largest fund holding Jianlong Micro-Nano is Nuon Pioneer Mixed A, with a total scale of 3.84 billion yuan and a recent net value increase of 0.74% [4] Corporate Developments - The company is currently undergoing a major asset restructuring process, with due diligence, auditing, and evaluation activities progressing as planned [5]

智通财经APP讯，建龙微纳(688357.SH)披露2025年半年度报告，报告期公司实现营收3.78亿元，同比增 长0.33%;归母净利润4868万元，同比增长4.91%;扣非净利润4596万元，同比增长10.50%;基本每股收益 0.49元。 ...

Core Viewpoint - Jianlong Micro-Nano (688357.SH) reported a slight increase in revenue and profit for the first half of 2025, indicating stable performance amidst market conditions [1] Financial Performance - The company achieved a revenue of 378 million yuan, representing a year-on-year growth of 0.33% [1] - The net profit attributable to shareholders was 48.68 million yuan, reflecting a year-on-year increase of 4.91% [1] - The net profit after deducting non-recurring items was 45.96 million yuan, showing a year-on-year growth of 10.50% [1] - Basic earnings per share stood at 0.49 yuan [1]

证券日报网讯 8月29日晚间，建龙微纳发布公告称，公司第四届董事会第十三次会议审议通过了《关于 及摘要的议案》等多项议案。 （文章来源：证券日报） ...

| 证券代码：688357 | 证券简称：建龙微纳 公告编号：2025-047 | | --- | --- | | 转债代码：118032 | 转债简称：建龙转债 | 洛阳建龙微纳新材料股份有限公司2025年半年度 募集资金存放、管理与实际使用情况的专项报告 1. 向特定对象发行股票募集资金金额、资金到位情况 经中国证监会《证监许可[2022]347号》文核准，同意公司以简易程序向6名 特定对象发行1,235,039股股票。本次发行完成后，发行对象所认购的股份自发行 结束之日起六个月内不得转让。本次发行结束后，由于公司送红股、资本公积金 转增股本等原因增加的公司股份，亦应遵守上述限售期安排。截止2022年3月4 日，公司已向特定对象发行股票1,235,039股，共募集资金人民币193,999,926.12 元，扣除承销及保荐费用3,660,375.97元（不含税）后，原保荐机构中天国富证 券有限公司于2022年3月4日将款项人民币190,339,550.15元划入公司募集资金专 用账户。具体情况如下： | 开户银行 | 账号 | 入账日期 | 金额（元） | | --- | --- | --- | --- | ...

洛阳建龙微纳新材料股份有限公司 关于公司 2025 年度提质增效重回报专项行动方案的半年度 评估报告 为积极践行"以投资者为本"的上市公司发展理念，提高公司经营质量，树立 良好市场形象，助力信心提振、资本市场稳定和经济高质量发展，切实保护投资 者合法权益，洛阳建龙微纳新材料股份有限公司（以下简称"公司"）于 2025 年 4 月 29 日发布《2025 年度"提质增效重回报"行动方案》，为公司 2025 年度提质增 效重回报行动制定出明确的工作方向。根据行动方案内容，公司积极开展和落实 各项工作，现将 2025 年上半年行动方案进展的评估情况报告如下： 一、聚焦经营主业，促进公司高质量发展 2025 年上半年，面对复杂多变的市场环境，公司坚定信心，持续聚焦分子 筛主业，积极开拓国内外市场，用高品质的产品和服务，精准、快速响应新老客 户的多样化、个性化需求，不断提升公司品牌影响力和核心竞争力。2025 年上 半年，公司实现营业收入 37,807.42 万元，同比增长 0.33%；实现净利润 4,867.81 万元，同比增长 4.91%；实现扣非净利润 4,595.75 万元，同比增长 10.50%。 目前，公司 ...