Core Viewpoint - The coal and electricity sectors are experiencing declines, while the company "Shangwei New Materials" is seeing a surge with five consecutive trading limits [2][10][26]. Market Overview - On July 15, the A-share market showed mixed performance, with the Shanghai Composite Index down 0.93% to 3486.88 points, while the ChiNext Index rose 0.64% [2][5]. - The total market turnover reached 1.1 trillion yuan, indicating a significant increase compared to the previous day [5]. Sector Performance - The communication sector performed well, with significant gains in optical modules, optical chips, and optical communication stocks [5][6]. - The coal sector saw major declines, with companies like Dayou Energy and Shaanxi Black Cat experiencing drops of 8.61% and 7.08% respectively [10][11]. - The electricity sector also faced downturns, with Huayin Power and Tuo Ri New Energy dropping by 9.60% and 8.72% respectively [12][13]. Company-Specific Developments - Shangwei New Materials achieved a 20.01% increase in stock price, marking its fifth consecutive trading limit [26][27]. - The company announced that its price-to-earnings ratio is significantly higher than the industry average, advising investors to be cautious [27]. - The acquisition of a 63.62% stake by Zhiyuan Robotics is set to change the controlling shareholder and actual controller of Shangwei New Materials [27]. Earnings Forecasts - Several companies, including Ando Mai A and Tongding Interconnection, are expected to report losses for the first half of the year, leading to significant stock price declines [17][20][23]. - The coal industry is facing challenges due to a mismatch in supply and demand, prompting calls for improved contract management and industry self-regulation [15].

Investment Rating - The report maintains a "Buy" rating for Chanhen (002895 CH), Yuntianhua (600096 CH), and NHU (002001 CH), while Skshu (603737 CH) and Yuhong (002271 CH) are rated "Hold" [3][4][8]. Core Insights - The phosphate sector is experiencing strong performance, with companies like NHU expecting a profit increase of 50-70% in 1H25, driven by resilient agricultural demand and rising prices [3]. - Chanhen and Yuntianhua are highlighted as top picks due to their earnings momentum and robust dividend profiles, with expected earnings growth of over 40% year-on-year for Chanhen in 2Q and around 10% for Yuntianhua [3][8]. - The report notes potential catalysts for growth, including rising fertilizer export prices and elevated phosphate rock prices during the peak planting season [3]. Summary by Sections Phosphate Sector - Phosphate companies are expected to lead the sector, with Chanhen and Yuntianhua showing strong earnings growth and dividend yields exceeding 6% in 2025 [3][8]. - NHU's profit guidance indicates overall sector strength, with a projected increase of 50-70% [3]. Building Materials - Skshu has issued positive profit guidance for 2Q, projecting earnings growth of 69-118% year-on-year, but the report maintains a "Hold" rating due to the growth being largely priced in [4]. - Yuhong is expected to face ongoing weakness in earnings due to challenges in new housing and engineering construction [4]. Commodity Chemicals - Satellite Chemical is facing headwinds with expected earnings declines due to turbulence in ethane/propane imports and operational risks [5]. - Wanhua and LB Group are also under pressure from anti-dumping duties affecting their core products, leading to a negative outlook for their 2Q earnings [5].

7月14日晚，安道麦A（000553）披露2025年上半年业绩预告。预计今年上半年实现归属于上市公司股 东的净利润亏损5400万元至1.08亿元，与2024年上半年相比将大幅减亏。 目前，农化行业仍然面临产品供大于求等问题。转型是安道麦A目前的重要任务。公司于2024年初启动 实施"奋进"转型计划，旨在通过2024年到2026年的三年时间，逐步实现提升利润、改善现金流的设定目 标。 预计减亏 安道麦A是全球植保行业的龙头企业，公司主要以非专利原药为基础，从事作物保护产品的开发、生产 及销售。目前，公司向全球数十个国家的农民提供除草、杀虫及杀菌解决方案，在前二十大农业市场国 家直接开展经营业务，服务覆盖各大区域。 同时，安道麦A正利用自身在农业及化工领域的能力，开展其他若干非农领域业务，主要包括生产和销 售膳食补充剂、食用色素、口感及口味增强剂、及营养强化剂原料；用于香水、化妆品、护肤品及清洁 剂的香精产品等。 安道麦A表示，2025年上半年公司同比减亏的主要原因是营业利润同比增加，税项费用同比减少，且超 过了财务费用增加的影响。 另外，安道麦A在公告中提到，预计2025年半年度EBITDA(息税及折旧摊销前利 ...

安道麦发布 2025 年半年度业绩预测 中国北京及以色列特拉维夫，2025 年 7 月 14 日 – 安道麦股份有限公司（以下简称"公司"，深证 000553）于今日发布 2025 年半年度业绩预测。公司的"奋进"战略转型计划持续发挥积极作用，核 心财务指标实现改善。 销售额 得益于第二季度销售额的同比增长，公司预计2025年半年度销售额将与2024年同期持平（以美 元计算0%，以人民币计算+1%）。今年上半年销售额企稳，主要得益于渠道库存改善带来销量增长， 抵消了同期价格走低的不利影响。而价格疲软的主要原因是原药价格因供过于求而处于低位；以及 海外市场普遍高息，大宗农产品价格相对低迷，导致经销商及农民承受压力。 调整后息税及折旧摊销前利润（下文简称"EBITDA"）以及净利润 公司预计2025年半年度调整后EBITDA及其利润率较2024年同期将实现同比增长。调整后 EBITDA及其利润率改善的原因是毛利与毛利率双双提升，主要反映出存货成本降低和销量同比增加 产生的积极影响。 公司预计2025年半年度调整后净利润约为4,700万美元至5,400万美元， 2024年同期亏损7,100万 美元。公司实现调整后净 ...

证券代码：000553（200553） 证券简称：安道麦 A（B） 公告编号：2025-24 号 安道麦股份有限公司 2025 年半年度业绩预告 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。 一、 本期业绩预计情况 （一）业绩预告期间：2025 年 1 月 1 日至 2025 年 6 月 30 日 （二）业绩预告情况：预计净利润为负值 | 项 目 | 本报告期 | | | | 上年同期 | | | --- | --- | --- | --- | --- | --- | --- | | 归属于上市公司 股东的净利润 | 亏损：1.08 | 亿元 – | 5,400 | 万元 | 亏损：8.95 | 亿元 | | 扣除非经常性损 益后的净利润 | 亏损：1.77 | 亿元 – | 1.23 | 亿元 | 亏损：9.47 | 亿元 | | 基本每股收益 | 亏损：0.0464 | 元/股 | – 0.0232 | 元/股 | 亏损：0.3841 | 元/股 | 注：上述"非经常性损益"的定义请见《公开发行证券的公司信息披露解释性公告第 1 号——非经常性损益》。 ...

Group 1 - Hubei Province's direct financing has maintained a high level of around 800 billion yuan for three consecutive years, with nearly 80% of listed companies achieving profitability [1][2] - As of June 30, 2025, Hubei has 191 listed companies, ranking 10th nationally, with 153 domestic and 38 overseas listings [2][3] - The province has a reserve of 1,355 "gold and silver seed" enterprises to support more quality companies to go public [1][4] Group 2 - In Q1 2025, over 70% of Hubei's listed companies were profitable, with notable companies like Jiuzhoutong, CITIC Special Steel, and Wentai Technology reporting revenues exceeding 10 billion yuan [3] - The top ten companies by revenue in Hubei all exceeded 4 billion yuan, indicating strong performance in the region [3] - Hubei has implemented a comprehensive service system for companies to enter the multi-level capital market, aiming to enhance the quality of enterprises [4] Group 3 - Hubei's capital market reforms have led to 20 new listings and approvals annually from 2021 to 2023, with the province ranking 6th nationally for new listings in 2024 [2] - The province aims to achieve five major goals by 2030, including increasing the total number of listed companies and ensuring coverage across all regions [4]

证券代码：000553（200553） 证券简称：安道麦A(B) 公告编号：2025-23号 上述议案经公司董事会薪酬及考核委员会审议通过。 特此公告。 安道麦股份有限公司董事会 安道麦股份有限公司（以下简称"公司"或"本公司"）第十届董事会第十 三次会议于 2025 年 6 月 9 日通过电子邮件方式通知了所有董事，并于 2025 年 6 月 12 日以视频及现场会议方式召开。会议应出席董事 6 人，实际出席董事 6 人。 本次会议的召开符合有关法律、行政法规、部门规章、规范性法律文件和公 司章程的规定。出席会议的董事审议并通过如下议案： 1. 关于高级管理人员薪酬相关事宜的议案 董事会审议通过根据《公司高级管理人员薪酬政策》所确定的公司高级管理 人员 2025-2027 年度激励计划及 2025 年度授予奖励，以及公司总裁兼首席执行 官 Gaël Ali Hili 先生的相关保险事宜。 关联董事刘红生先生回避了表决。会议以 5 票同意，0 票反对，0 票弃权的 表决结果审议通过了议案。 安道麦股份有限公司 第十届董事会第十三次会议决议公告 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 ...

证券代码：000553（200553） 证券简称：安道麦A(B) 公告编号：2025-22号 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。 安道麦股份有限公司（以下简称"公司"或"本公司"）第十届董事会第十 二次会议于 2025 年 5 月 27 日以传签方式召开（经全体董事一致同意，豁免本次 会议通知时限）。会议应当参与传签的董事 6 人，实际参与传签的董事 6 人。 本次会议的召开符合有关法律、行政法规、部门规章、规范性法律文件和公 司章程的规定。出席会议的董事审议并通过如下议案： 1. 关于境外全资子公司实施债券回购计划的议案 为改善公司债务结构，降低公司整体的融资成本，董事会批准全资子公司 ADAMA Agricultural Solutions Ltd.（以下简称"Solutions"）或其子公司根据市 场情况在特拉维夫证券交易所或者通过场外交易的形式，对 Solutions 发行的部 分债券予以回购，回购对价至多 3 亿美元的债券。 每份债券回购价格不高于 1.466 以色列新谢克尔，债券回购的期限为自公司 董事会通过本次回购计划之日起一年。回购 ...

Group 1 - The successful ignition of the 50MW heavy-duty gas turbine by Hangzhou Steam Turbine Group marks a significant milestone in China's high-end equipment manufacturing, showcasing the company's technological advancements and commitment to innovation [1] - The HGT51F gas turbine is the first heavy-duty turbine with completely independent intellectual property rights from Hangzhou Steam Turbine Group, overcoming key core technologies such as high-temperature components and control systems [1] - The turbine's combined cycle power generation capacity is approximately 70,000 kW per hour, translating to an annual output of around 400 million kWh, sufficient to meet the electricity needs of a medium-sized county for a year [1] Group 2 - A cooperation agreement was signed between Hangzhou Steam Turbine Group and Jiangsu Yangjing Petrochemical Group to establish a self-developed gas turbine demonstration power station project in Lianyungang [3] - The project aims to integrate clean and low-carbon production in the petrochemical base with the development of domestic gas turbine industries, contributing to the market application of domestic gas turbines [3] - Hangzhou Steam Turbine Group plans to leverage the success of the ignition to promote the series production of gas turbines and expand its global operation and maintenance market, focusing on providing efficient, environmentally friendly, and intelligent services [3]

Group 1 - The company achieved a turnaround in net profit for Q1, with sales of $1 billion, reflecting a year-over-year decrease of approximately 5% in USD terms and 4% in RMB terms, primarily due to stable sales volume, a 4% price decline, and adverse currency fluctuations [1] - Adjusted net profit rose to $44 million, compared to a net loss of $10 million in the same period of 2024; reported net profit increased to $21 million, up from a reported net loss of $32 million in 2024 [1] Group 2 - The company experienced a significant improvement in gross margin, with adjusted gross profit increasing by 5% to $303 million, resulting in a gross margin of 30.3%, up from 27.2% in the same period last year [2] - Adjusted operating expenses for Q1 were $207 million, down from $216 million year-over-year, primarily due to strict management of operating expenses and favorable currency trends [2] - Adjusted financial expenses decreased to $54 million from $70 million year-over-year, attributed to reduced hedging costs and improved cash flow management [2] Group 3 - The North American business showed growth, driven by the recovery of local agricultural market channel inventories and improving market demand [3] - The company's North American operations focus on consumer and professional solutions, applying agricultural products in non-agricultural sectors, which are closely tied to local economic conditions and consumer demand [3] - In 2024, the increase in disposable income in North America boosted demand in this segment, leading to year-over-year sales growth and maintaining strong gross margin levels [3]