金融界消息 截至2025年8月15日收盘，恒逸石化（000703）报收于6.09元，上涨3.22%，换手率0.77%， 成交量27.48万手，成交金额1.66亿元。 资金流向方面，今日主力资金净流出1282.43万元，占比成交额7.73%。其中，超大单净流出1684.83万 元、占成交额10.15%，大单净流入402.41万元、占成交额2.43%，中单净流出流入692.66万元、占成交 额4.17%，小单净流入589.76万元、占成交额3.55%。 恒逸石化最新一期业绩显示，截至2025一季报，公司营业总收入271.68亿元、同比减少14.18%，归属净 利润5149.48万元，同比减少87.55%，扣非净利润817.10万元，同比减少97.40%，流动比率0.668、速动 比率0.390、资产负债率72.38%。 来源：金融界 通过天眼查大数据分析，恒逸石化股份有限公司共对外投资了13家企业，参与招投标项目2次，此外企 业还拥有行政许可9个。 天眼查商业履历信息显示，恒逸石化股份有限公司，成立于1996年，位于钦州市，是一家以从事化学纤 维制造业为主的企业。企业注册资本366626.5677万人民币，实缴资 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The PTA industry is nearing the end of its expansion phase, with a projected new capacity of 8.7 million tons in 2025, while the demand for PTA products is expected to continue growing due to steady demand from downstream applications such as polyester fibers, bottle sheets, and films [6][31][32] Supply Side Summary - The domestic PTA industry's effective capacity increased from 46.69 million tons in 2019 to 84.27 million tons in 2024, with a compound annual growth rate (CAGR) of 12.5% [12][14] - As of August 2025, the industry concentration ratio (CR7) reached 76%, indicating a high level of market concentration and pricing power among leading companies [15][16] - The expansion of PTA capacity is expected to slow down, with 870,000 tons of new capacity planned for 2025, and an additional 800,000 tons planned for 2026 and beyond [19][20] Demand Side Summary - The primary demand for PTA comes from polyester fibers and films, with polyester fibers accounting for 71% of the demand and bottle sheets for 23% [26][28] - The apparent consumption of PTA in China increased from 42.36 million tons in 2019 to 65.58 million tons in 2024, with a CAGR of 9.13% [28][30] - Exports of PTA have been increasing, reaching 4.418 million tons in 2024, which is approximately 6.3% of the total domestic production [29][30] Profitability Forecast and Investment Recommendations - The report anticipates a gradual recovery in PTA product profitability as the supply-side dynamics improve and demand continues to rise [31] - Recommended stocks include Hengli Petrochemical, Rongsheng Petrochemical, Xin Fengming, and Tongkun Co., Ltd. Beneficiary stocks include Hengyi Petrochemical, Sanfangxiang, and Dongfang Shenghong [32][33]

Core Viewpoint - Hengyi Petrochemical's recent financial performance shows significant declines in revenue and profit, indicating potential challenges ahead for the company [1]. Financial Performance - As of the first quarter of 2025, Hengyi Petrochemical reported total revenue of 27.168 billion yuan, a year-on-year decrease of 14.18% [1]. - The net profit attributable to shareholders was 51.4948 million yuan, down 87.55% year-on-year [1]. - The non-recurring net profit was 8.171 million yuan, reflecting a 97.40% decrease compared to the previous year [1]. - The company's liquidity ratios are concerning, with a current ratio of 0.668 and a quick ratio of 0.390 [1]. - The asset-liability ratio stands at 72.38%, indicating a high level of debt relative to assets [1]. Market Activity - On August 13, 2025, Hengyi Petrochemical's stock closed at 5.98 yuan, down 0.33% with a turnover rate of 0.36% [1]. - The trading volume was 130,700 hands, with a total transaction value of 78.1843 million yuan [1]. - There was a net outflow of main funds amounting to 15.6826 million yuan, accounting for 20.06% of the transaction value [1]. - Large orders saw a net outflow of 16.6362 million yuan, making up 21.28% of the transaction value [1]. Company Background - Hengyi Petrochemical Co., Ltd. was established in 1996 and is primarily engaged in the chemical fiber manufacturing industry [2]. - The company is located in Qinzhou and has a registered capital of 36.6626 billion yuan, with paid-in capital of 17.4527 billion yuan [1][2]. - The legal representative of the company is Qiu Yibo [1].

Core Viewpoint - The AMAC Chemical Fiber Index experienced a decline of 0.57%, closing at 3837.96 points, with a trading volume of 3.384 billion yuan, despite showing positive growth over the past month, three months, and year-to-date [1] Group 1: Index Performance - The AMAC Chemical Fiber Index has increased by 6.53% over the past month [1] - The index has risen by 9.31% over the last three months [1] - Year-to-date, the index has shown a growth of 9.89% [1] Group 2: Index Composition - The top ten holdings of the AMAC Chemical Fiber Index are: Tongkun Co., Ltd. (13.53%), Guangwei Composites (11.72%), Kaisa Biotechnology (11.33%), Huafeng Chemical (10.12%), Hengyi Petrochemical (8.51%), Zhongjian Technology (8.44%), New Fengming (6.32%), Jilin Chemical Fiber (5.23%), Taihe New Materials (4.32%), and Hailide (3.15%) [1] - The market share of the AMAC Chemical Fiber Index is composed of 60.77% from the Shenzhen Stock Exchange and 39.23% from the Shanghai Stock Exchange [1] Group 3: Industry Classification - The AMAC Chemical Fiber Index is entirely composed of the raw materials sector, with a 100% allocation [1]

伊戈尔12月17日晚发布公告，12月15日，公司收到实际控制人、董事长肖俊承《关于提议伊戈尔电气股 份有限公司回购公司股份的函》，基于对公司未来发展前景的信心和对公司价值的认可，为有效增强投 资者信心，公司实际控制人、董事长肖俊承提议公司通过集中竞价交易方式回购公司部分股票，并在未 来适宜时机将回购股份用于股权激励或员工持股计划，以进一步健全公司长效激励机制，充分调动核心 骨干员工的积极性，确保公司长期经营目标及股东利益的实现，从而提升公司整体价值。回购资金总额 为6000万元至1.2亿元。 积极回购 不少上市公司在发布回购方案后不久，就实施了回购。 天源环保12月17日晚间发布关于首次回购公司股份的公告，公告显示，12月14日，公司首次实施了回购 股份，通过深圳证券交易所股票交易系统以集中竞价交易方式首次回购公司股份9万股，占公司当前总 股本的0.02%，最高成交价为11.47元/股，最低成交价为11.43元/股，成交总金额为103.07万元（不含交 易费用）。 临近年末，上市公司回购热情不减。以恒逸石化为代表的部分上市公司计划回购金额上限达到10亿元。 业内人士表示，上市公司大规模回购，向市场传递低估值信 ...

专利摘要显示，本发明公开了一种阻燃抗污共聚尼龙6及其制备方法和应用，制备方法为：将含磷 阻燃单体、含硅反应单体、内酰胺、引发剂和催化剂加入到聚合反应釜中，通入氮气置换釜内空气；在 氮气保护下先升温至180~220℃进行预聚反应，再升温至240~260℃进行聚合反应；聚合反应后排除体系 内的水蒸气至常压状态反应，然后抽真空反应，反应结束后充氮气恢复至常压，出料冷却，得到阻燃抗 污共聚尼龙6。本发明在共聚尼龙中引入含磷共聚单体和含硅共聚单体，在较低引入量，通过熔融共聚 制备一种具有高阻燃效率、永久阻燃的本征型阻燃尼龙材料，并具有一定的疏水抗污性能，同时保留了 尼龙材料本身良好的力学性能和可纺性能。 2025年8月6日消息，国家知识产权局信息显示，浙江恒逸石化研究院有限公司申请一项名为"一种 阻燃抗污共聚尼龙6及其制备方法和应用"的专利，公开号CN120424331A，申请日期为2025年04月。 ...

Investment Rating - The industry investment rating is "Positive" as the industry index is expected to outperform the benchmark [127]. Core Insights - The report highlights a significant drop in oil prices, leading to an expansion in the price spread of refining products. As of August 8, 2025, the Brent crude oil average price was $67.67 per barrel, reflecting a decrease of 4.90% [2][12]. - Domestic key refining project price spread reached 2378.22 CNY/ton, with a week-on-week increase of 42.27 CNY/ton (+1.81%), while the international key refining project price spread was 1097.94 CNY/ton, up by 74.40 CNY/ton (+7.27%) [2][3]. - The report discusses various segments including refining, chemicals, and polyester, indicating a general trend of price declines in chemical products, although some products saw price increases due to supply constraints [2][35][72]. Summary by Sections Refining Sector - The report notes that the market is currently weighing the impacts of tariff agreements and economic data, which have led to concerns about demand. The U.S. crude oil production reached a record high in May, contributing to oversupply expectations [2][12]. - Domestic refined oil prices are fluctuating, with diesel, gasoline, and aviation fuel averaging 7077.57 CNY/ton, 8173.43 CNY/ton, and 5972.93 CNY/ton respectively [12]. Chemical Sector - The chemical sector is experiencing widespread price declines, with some products seeing price increases due to reduced supply. For instance, the price of acrylonitrile increased slightly due to supply reductions [2][35]. - Polyethylene prices showed minor fluctuations, while the price spread significantly widened, indicating a favorable market condition for producers [41][57]. Polyester Sector - The polyester sector is facing weak cost support due to falling oil prices, leading to price declines in upstream materials like PX, PTA, and MEG. The average price of PTA is currently 4684.29 CNY/ton, with an industry average net profit of -264.65 CNY/ton [81][90]. - The report indicates that the demand for polyester products remains weak, particularly in the downstream market, which is still in a seasonal lull [90][99].

Investment Rating - The report does not explicitly state an investment rating for the industry or specific companies [1]. Core Insights - The cost side supports the price increase of long filament yarns, with domestic and foreign refining project price differentials showing positive trends [2]. - The polyester sector shows varied performance with POY, FDY, and DTY average prices increasing, while profits remain under pressure for FDY and DTY [2]. - The refining sector indicates a decline in domestic gasoline, diesel, and aviation fuel prices, reflecting broader market trends [2]. - The chemical sector shows a decrease in PX average price, but the price differential with crude oil has improved [2]. Summary by Sections 1. Refining Projects Price Differential - Domestic refining project price differential is 2548 CNY/ton, up by 186 CNY/ton (8% increase) week-on-week [2]. - Foreign refining project price differential is 1103 CNY/ton, up by 79 CNY/ton (8% increase) week-on-week [2]. 2. Polyester Sector - Average prices for POY, FDY, and DTY are 6725 CNY/ton, 7011 CNY/ton, and 7932 CNY/ton respectively, with week-on-week increases of 4 CNY, 25 CNY, and 25 CNY [2]. - Weekly average profits for POY, FDY, and DTY are 18 CNY/ton, -58 CNY/ton, and -44 CNY/ton respectively, with significant week-on-week profit increases for POY and FDY [2]. - Inventory levels for POY, FDY, and DTY are 19.7 days, 25.7 days, and 30.0 days respectively, with slight increases week-on-week [2]. 3. Refining Sector - Domestic gasoline, diesel, and aviation fuel prices have decreased, reflecting a broader trend in the market [2]. - The average price of gasoline in the US has also seen a decline, indicating a similar trend in the international market [2]. 4. Chemical Sector - PX average price is 838.7 USD/ton, down by 16.1 USD/ton week-on-week, but the price differential with crude oil has improved to 344.7 USD/ton, up by 9.3 USD/ton [2]. - PX operating rate remains stable at 82.4% [2].

证券代码：000703 证券简称：恒逸石化 公告编号：2025-080 恒逸石化股份有限公司（以下简称"公司"）分别于 2024 年 1 月 31 日召开第 十二届董事会第七次会议和第十二届监事会第五次会议、2024 年 2 月 22 日召开 第一次临时股东大会，审议通过《关于<恒逸石化股份有限公司第六期员工持股 计划（草案）>及摘要的议案》《关于<恒逸石化股份有限公司第六期员工持股计 划管理办法>的议案》《关于提请股东大会授权董事会办理公司第六期员工持股 计划相关事宜的议案》等相关议案，同意公司实施第六期员工持股计划，并授权 公司董事会办理员工持股计划的相关事宜。具体内容详见公司于 2024 年 2 月 1 日、2024 年 2 月 23 日刊登在巨潮资讯网（www.cninfo.com.cn）上的相关公告。 本次员工持股计划拟筹集资金总额上限为 8 亿元，其中 24,566.81 万元拟用于受 让上市公司回购股票，受让价格为 6.61 元/股，预计受让上市公司回购股票 37,166,129 股；55,433.19 万元拟用于通过二级市场购买（包括但不限于竞价交易、 大宗交易）等法律法规允许的方式购买公司股 ...

Group 1 - Zhejiang Hengyi Petrochemical Research Institute Co., Ltd. applied for a patent titled "A Preparation Method for Halogen-Free and Antimony-Free Flame Retardant Polyester," with publication number CN120424322A, and the application date is March 2025 [1] - The patent involves a preparation method for halogen-free and antimony-free flame retardant polyester, which includes grinding magnesium compound catalyst, dispersing it in ethylene glycol, and mixing it with dicarboxylic acid and diol for esterification [1] - The invention utilizes a titanium-based catalyst combined with magnesium compound as a catalyst to address the yellowing issue caused by titanium-based catalysts while ensuring environmental safety by eliminating antimony [1] Group 2 - Zhejiang Hengyi Petrochemical Research Institute Co., Ltd. was established in 2018 and is located in Hangzhou, primarily engaged in the chemical fiber manufacturing industry [2] - The company has a registered capital of 25 million RMB and has invested in 7 enterprises, participated in 9 bidding projects, and holds 472 patent information [2] - The company also possesses 9 trademark information and has 9 administrative licenses [2]