Group 1 - The A-share and Hong Kong stock markets showed a growth style leading the rally in December, with the ChiNext and North Star 50 indices rising over 5% [1] - The core drivers for the cyclical sector include economic recovery expectations and the revaluation of strategic resources, particularly benefiting from global manufacturing recovery and resource security themes [1][2] - The growth style focuses on technological self-reliance and new productivity, with capital concentrating on sectors like defense, communication, and AI-related high-end manufacturing [1][2] Group 2 - In January, the A-share market will enter a critical data verification period, influenced by policy effects, macro data, corporate performance, and liquidity changes, leading to potential increased volatility [2] - Key sectors such as defense, 6G, and satellite internet will require performance or order validation to digest previous gains, while commercial aerospace and AI computing sectors may still present active opportunities [2] - Strategic resource segments, especially rare metals like antimony, tungsten, and rare earths, are being revalued by the market due to their essential role in advanced technology breakthroughs [2] Group 3 - The company has excellent asset allocation in mineral resources, with a projected CAGR of 24% for copper production and 12% for gold production from 2020 to 2024, leading in growth among major copper/gold mining companies [6] - The company has successfully completed several significant acquisitions, contributing to production and profit, with ongoing projects expected to support sustainable growth in copper and gold businesses [6][8] - The company has effectively controlled costs, with production costs for copper and gold remaining competitive, positioning it within the top 20% globally [7] Group 4 - The company is benefiting from a stable coal production capacity of 48 million tons/year and has seen an increase in profitability due to low extraction costs and high long-term contracts [18] - The company is expanding its electrolytic aluminum capacity, with a projected increase to 121,000 tons/year by the end of 2025, supported by cost advantages from proximity to coal sources [19] - The company is actively promoting clean energy transition, with significant growth in renewable energy installations, aiming for 700,000 kW by the end of the 14th Five-Year Plan [19] Group 5 - The company is a leading supplier of air conditioning refrigeration valves, with rapid growth in automotive and humanoid robot businesses, actively developing new growth curves [47] - The company achieved a revenue of 240.29 billion yuan in the first three quarters of 2025, with a year-on-year increase of 16.86%, and a net profit of 32.42 billion yuan, up 40.85% [47] - The company is focusing on the development of robotic components, with plans for overseas mass production to strengthen its position in the global supply chain [49]

转自：智通财经 消息介绍，郭柏春涉嫌严重职务犯罪。2024年1月，宁夏回族自治区监委对其立案调查。办案机关积极 开展国际执法合作，最终将其缉拿归案。 红星新闻披露，被遣返回国后，2024年9月24日，郭柏春被解除了留置措施。2024年10月15日，亚钾国 际在其第八届董事会第十五次会议决议公告中透露，郭柏春可以正常履职，会议由郭柏春召集并主持。 此后3个月，郭柏春主持了亚钾国际多项会议。据证券时报消息，2025年1月16日，老挝有关人士到亚钾 国际老挝钾肥生产基地视察指导工作，郭柏春以董事长的身份与对方现场视频连线。第二天，郭柏春再 次被留置。 8月19日，最高人民检察院发布消息称，宁夏回族自治区银川市政府原党组成员、副市长郭柏春（副厅 级）涉嫌挪用公款、滥用职权一案，由宁夏回族自治区监察委员会调查终结，移送检察机关审查起诉。 经宁夏回族自治区人民检察院交办，由银川市人民检察院审查起诉。日前，银川市人民检察院依法以涉 嫌挪用公款罪、滥用职权罪对郭柏春作出逮捕决定。亚钾国际也发布公告证实郭柏春被逮捕的信息，并 强调相关事项系其个人行为，与公司无关联，公司生产经营正常，控制权未发生变化。 2025年12月29日， ...

Industry Overview - The chemical sector's overall performance ranked 7th this week (2025/12/22-2025/12/26) with a fluctuation of 4.23%, outperforming the Shanghai Composite Index by 2.35 percentage points and the ChiNext Index by 0.34 percentage points [1] - The chemical industry is expected to continue its differentiated trend in 2025, with a focus on synthetic biology, pesticides, chromatography media, sweeteners, vitamins, light hydrocarbon chemicals, COC polymers, and MDI [1] Synthetic Biology - The arrival of a pivotal moment in synthetic biology is anticipated, driven by the adjustment of energy structures, which may disrupt fossil-based materials and favor low-energy products [1] - Traditional chemical companies are expected to compete based on energy consumption and carbon tax costs, with successful firms leveraging green energy alternatives and integrated advantages to reduce costs [1] - The demand for bio-based materials is projected to surge, leading to potential profitability and valuation increases for leading companies in the synthetic biology sector, such as Kasei Bio and Huaheng Bio [1] Refrigerants - The implementation of quota policies is expected to usher in a high-growth cycle for third-generation refrigerants, with supply entering a "quota + continuous reduction" phase starting in 2024 [2] - The demand for refrigerants is anticipated to grow steadily due to the development of heat pumps, cold chain markets, and the expansion of the air conditioning market in Southeast Asia [2] - Companies with a high quota share, such as Juhua Co., Sanmei Co., Haohua Technology, and Yonghe Co., are expected to benefit significantly from this trend [2] Electronic Specialty Gases - Electronic specialty gases are critical to the electronics industry and represent a core component of domestic industrial chain localization [2] - The domestic market faces a contradiction between rapid upgrades in wafer manufacturing and insufficient high-end electronic specialty gas capacity, presenting significant domestic substitution opportunities [2] - Key players like Jinhong Gas, Huate Gas, and China Shipbuilding Gas are positioned to capitalize on the growing demand driven by integrated circuits, panels, and photovoltaics [2] Light Hydrocarbon Chemicals - The trend towards light raw materials in the global olefin industry is becoming increasingly significant, with a shift from heavy naphtha to lighter low-carbon alkanes like ethane and propane [3] - Light hydrocarbon chemicals are characterized by low carbon emissions, low energy consumption, and low water usage, aligning with global carbon neutrality goals [3] - Companies in the light hydrocarbon sector, such as Satellite Chemical, are expected to see a revaluation of their value as this trend continues [3] COC Polymers - The industrialization process of COC/COP (cyclic olefin copolymer) is accelerating in China, driven by domestic companies achieving breakthroughs and the shift of downstream industries to domestic sources [4] - COC/COP materials are increasingly used in various applications, including mobile camera lenses and medical packaging, with a focus on high-end applications [4] - Companies like Acolyte are recommended for their potential in the COC polymer production segment [4] Potash Fertilizers - Potash fertilizer prices are expected to rebound as the industry enters a destocking cycle, with supply constraints due to Canpotex withdrawing new quotes and Nutrien announcing production cuts [5] - The demand for potash fertilizers is likely to increase as farmers respond to rising grain prices, leading to a potential reversal in potash prices [5] - Leading companies in the potash sector, such as Yara International, Salt Lake Potash, and Zangge Mining, are recommended for investment [5] MDI Market - The MDI market is characterized by oligopoly, with demand steadily improving due to the expansion of polyurethane applications [6] - The global MDI production capacity is concentrated among five major chemical giants, which control approximately 90.85% of the market [6] - Companies like Wanhua Chemical are expected to benefit from the favorable supply dynamics and demand recovery in the MDI sector [6] Chemical Price Tracking - The top five price increases this week included NYMEX natural gas (9.59%), PTA (8.95%), and butadiene (6.83%) [6] - The top five price decreases included pure MDI (-4.23%) and acrylic fiber (-3.45%) [6] - A total of 170 chemical companies reported production capacity impacts this week, with 6 new repairs and 10 restarts [6]

《关于公司董事、高级管理人员股份减持完成公告》 截至2025年12月29日收盘，亚钾国际（000893）报收于46.6元，较前一交易日上涨0.11%，最新总市值 为430.61亿元。该股当日开盘46.54元，最高47.0元，最低45.3元，成交额达3.78亿元，换手率为1.01%。 近日，亚钾国际投资（广州）股份有限公司发布公告称，公司董事、高级管理人员郭柏春、刘冰燕、郑 友业、苏学军、刘永刚通过集中竞价交易方式完成股份减持。减持期间为2025年12月9日至12月24日， 合计减持545,000股，占公司当前总股本的0.0597%。减持股份来源于2022年股权激励计划获授的限制性 股票。本次减持后，上述人员合计持有公司股份1,620,000股，占总股本的0.1773%。郭柏春家属在操作 中误买入并卖出公司股份5,000股。本次减持未导致公司控制权变更。 最新公告列表 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 ...

Core Insights - The article highlights the successful turnaround of the company, formerly known as ST Dongling, now named Yaqi International, under the leadership of Guo Bochun, who is recognized as a "restructuring expert" [1] - The company has positioned itself as a crucial player in the potassium fertilizer market, significantly contributing to food security in China, a country facing potassium shortages [1] - Guo's strategic vision and execution have led to substantial growth in the company's stock price, from 4 yuan per share in 2019 to a peak of 48.99 yuan per share in 2025 [1] Strategic Goals - Guo Bochun's team focused on long-term strategic development, emphasizing the core business of potassium fertilizer and divesting from unprofitable shipping operations, leading to the rebranding of the company to Yaqi International [2] - The qualitative strategic goal is to become a world-class potassium fertilizer supplier, with quantitative targets of achieving 1 million tons per year by 2022 and 5 million tons per year by 2027 [2] - The strategy includes resource acquisition, scaling production, and innovation, with new potassium salt resource acquisitions and capacity expansions initiated in 2020 [2] Market Positioning - In 2020, Guo's decision to expand production during a market downturn was met with skepticism, as the potassium fertilizer market had been depressed for nearly a decade [3] - The potassium fertilizer contract price was only $220 per ton in 2020, but by 2025, it had risen to $348 per ton, validating Guo's strategic foresight [3] Technical Challenges and Innovations - Guo's strategic planning was informed by an analysis of the potassium fertilizer market's cyclical nature, anticipating a supply-demand gap due to population growth and insufficient new mining projects [4] - The company faced significant technical challenges, particularly in the crystallization process, which delayed the launch of its first million-ton project [4] - Guo led the technical team to develop a crystallization device, achieving a breakthrough that laid the foundation for future production optimization [5] Leadership and Expertise - Guo Bochun's leadership style combines strategic foresight with hands-on involvement in capital operations and technical challenges, drawing from his extensive experience in various sectors [6] - His educational background in engineering and economics, along with his practical experience in financial and management roles, positions him as a dual-expert capable of navigating complex market dynamics [6]

近日，公司收到董事、高级管理人员出具的《关于股份减持计划实施完成的 告知函》，获悉本次股份减持计划均已实施完成，现将有关情况公告如下： 一、股东减持情况 证券代码：000893 证券简称：亚钾国际 公告编号：2025-047 亚钾国际投资（广州）股份有限公司 关于公司董事、高级管理人员股份减持完成公告 本公司董事长郭柏春先生，董事、总经理、董事会秘书刘冰燕女士，董事、 副总经理郑友业先生，副总经理、财务总监苏学军先生，副总经理刘永刚先生保 证向本公司提供的信息内容真实、准确、完整，没有虚假记载、误导性陈述或重 大遗漏。 亚钾国际投资（广州）股份有限公司（以下简称"公司"）于2025年9月17 日在巨潮资讯网（www.cninfo.com.cn）披露了《关于公司董事、高级管理人员 减持公司股份的预披露公告》（公告编号：2025-042）。 | 序号 | 股东名称 | 减持方式 | 减持期间 | 减持均价 （元/股） | 减持股 数 | 减持股份数量占公司 当前总股本的比例 | | --- | --- | --- | --- | --- | --- | --- | | | | | | | （股） | | | 1 ...

证券之星消息，截至2025年12月23日收盘，亚钾国际(000893)报收于47.29元，上涨0.68%，换手率 0.91%，成交量7.38万手，成交额3.47亿元。 12月23日的资金流向数据方面，主力资金净流出4435.61万元，占总成交额12.77%，游资资金净流出 846.63万元，占总成交额2.44%，散户资金净流入5282.24万元，占总成交额15.21%。 近5日资金流向一览见下表： | | | | | 日期 收盘价 涨跌幅 主力净流入 主力净占比 游资净点比 游资净占比 散户净占比 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-12-23 | 47.29 0.68% | | -4435.61万 | -12.77% | -846.63万 | -2.44% | 5282.24万 | - 15.21% | | 2025-12-22 | 46.97 0.11% | | -3643.85万 | -10.12% | -2325.56万 | -6.46% | 5969.41万 | 16.58% | | 202 ...

Group 1: Market Overview - The average domestic price of potassium chloride reached 3274 yuan/ton on December 18, marking a 30% increase from the beginning of the year and a 29% year-on-year growth [1][2] - The potassium fertilizer import volume for 2024 is projected to be 12.63 million tons, representing a 9.07% increase year-on-year, with an import dependency exceeding 60% [1][6] - The potassium fertilizer market is experiencing tight supply, with prices remaining high due to stable demand and limited production capacity [2][4] Group 2: Supply Dynamics - There has been no new production capacity added in the potassium fertilizer supply chain this year, and the only expected new capacity will come from international players in 2026-2027 [1][4] - Seasonal factors, such as winter temperatures, are affecting the mining efficiency of potassium resources, leading to planned production halts [2][6] - The recent accident at a North American potassium mine may tighten global supply, potentially benefiting potassium prices [4] Group 3: Strategic Developments - Major companies are actively pursuing overseas potassium resource development to mitigate domestic resource constraints [6][7] - Salt Lake Co., the largest potassium fertilizer producer in China, is implementing a "going out" strategy, with ongoing exploration activities in the Republic of Congo [6][7] - The company aims to achieve a production capacity of 10 million tons of potassium fertilizer by 2030 as part of its strategic plan [6] Group 4: Price Trends and Projections - Analysts expect potassium chloride prices to remain elevated, with a central price level around 3000 yuan/ton, reflecting a shift upward from previous levels [5][6] - The market is anticipated to maintain a tight balance between supply and demand, with potential for prices to test previous highs [4][5]

证券之星消息，截至2025年12月19日收盘，亚钾国际(000893)报收于46.92元，上涨0.45%，换手率 1.16%，成交量9.41万手，成交额4.39亿元。 注：主力资金为特大单成交，游资为大单成交，散户为中小单成交 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 亚钾国际2025年三季报显示，前三季度公司主营收入38.67亿元，同比上升55.76%；归母净利润13.63亿 元，同比上升163.01%；扣非净利润13.62亿元，同比上升164.56%；其中2025年第三季度，公司单季度 主营收入13.45亿元，同比上升71.37%；单季度归母净利润5.08亿元，同比上升104.69%；单季度扣非净 利润5.06亿元，同比上升105.0%；负债率32.61%，投资收益4480.25万元，财务费用6529.58万元，毛利 率58.91%。亚钾国际（000893）主营业务：钾盐矿开采、加工,钾肥生产及销售。 该股最近90天内共有12家机构给出评级，买入评级10家，增持评级2家。 资金流向名词解释：指通过价格变化反推资金流向。股价 ...

Group 1: Market Impact - The recent accident at Mosaic's Esterhazy potash mine has disrupted potash supply, potentially leading to higher prices due to tighter global supply-demand dynamics [1][2] - The Esterhazy mine has a nameplate capacity of 7.8 million tons per year, accounting for approximately 11.96% of the global potash production capacity projected at 65.2 million tons for 2024 [2] Group 2: Price Trends - The price of potassium chloride is expected to remain high due to winter storage demand and cost support, with a current price of 3,272 CNY per ton, reflecting a year-on-year increase of 28.82% [4] - A recent agreement for the 2026 potash import contract at $348 per ton (CFR) indicates an upward price trend, with a slight increase of $2 per ton compared to the previous year [3] Group 3: Company Recommendations - Salt Lake Co. has a production capacity of 5 million tons per year and ranks fourth globally, although its production decreased by 11.76% in the first half of 2025 [5] - Yara International has a capacity of 2 million tons of potassium chloride, with ongoing projects expected to enhance production [5] - Oriental Tower's subsidiary in Laos holds significant potash resources and is advancing its production capacity, with a current output of 59.69 thousand tons [5]