亚钾国际投资（广州）股份有限公司（以下简称"公司"）于今日收到公司监事 彭志云先生的通知，其于近日收到中国证券监督管理委员会（以下简称"中国证 监会"）出具的《立案告知书》（编号：证监立案字0032025021号），根据《中 华人民共和国证券法》《中华人民共和国行政处罚法》等法律法规，中国证监会 决定对彭志云先生因涉嫌内幕交易予以立案。 本次立案调查系对彭志云先生的个人调查，与公司的日常经营管理和业务活 动无关，目前公司经营一切正常。彭志云先生已向公司申请辞去公司第八届监事 会监事职务，其辞职后在公司及子公司中不担任任何职务，其辞职需在公司股东 大会选举产生新任监事后方可生效。 公司将持续关注上述事项的进展情况，并严格按照相关法律法规的要求及时 履行信息披露义务。公司指定的信息披露媒体为《证券时报》、《中国证券报》、 《上海证券报》、《证券日报》和巨潮资讯网（www.cninfo.com.cn），公司所有 信息均以在上述指定媒体刊登的为准，敬请广大投资者注意投资风险。 特此公告。 亚钾国际投资（广州）股份有限公司董事会 证券代码：000893 证券简称：亚钾国际 公告编号：2025-028 亚钾国际投资（广州 ...

亚钾国际（000893）公告，公司监事彭志云因涉嫌内幕交易收到中国证监会出具的立案告知书，立案调 查系个人调查，与公司日常经营管理和业务活动无关。彭志云已申请辞去监事职务，辞职需在股东大会 选举产生新任监事后生效。公司将持续关注事项进展并及时履行信息披露义务。 ...

Investment Rating - The report maintains an "Outperform" rating for the fertilizer and pesticide industry [2][3]. Core Views - The international potash prices continue to rise, influenced by supply disruptions in pesticides [2]. - The domestic potash supply remains tight, with a significant reliance on imports, exceeding 60% [4][31]. - The long-term price stability of phosphate rock is expected due to increasing demand and declining quality of domestic resources [5][54]. Summary by Sections 1. Potash: Resource Scarcity and Price Recovery - Potash is essential for crop growth, with chloride potash being the dominant type used in agriculture, accounting for over 95% of usage [19]. - Global potash resources are concentrated in a few countries, with Canada, Belarus, and Russia holding approximately 69.4% of the total proven reserves [20][21]. - China's potash consumption is significant, making it the largest consumer globally, with a projected increase in demand [24][31]. 2. Phosphate Chemicals: High Prices and Export Guidance - The phosphate chemical industry's performance is closely tied to phosphate rock prices, which are expected to remain high due to supply constraints and increasing demand from new applications [5][54]. - As of May 2025, the market price for 30% grade phosphate rock in Hubei is 1,040 CNY/ton, while in Yunnan, it is 970 CNY/ton, both stable compared to the previous month [54]. - Phosphate fertilizer export policies are expected to alleviate domestic market pressures during the off-season [6]. 3. Pesticides: Supply Disruptions and Price Increases - The supply of chlorantraniliprole (Kangkuan) has been disrupted due to an explosion, leading to a price increase [7]. - The price of glyphosate has risen, with expectations for increased exports to South America during the peak demand season [7][10]. - Companies like Lier Chemical, which have established production capabilities for chlorantraniliprole, are highlighted as key players in the market [8][10]. 4. Key Company Profit Forecasts and Investment Ratings - Key companies in the industry, such as Yaqi International, Yuntianhua, and Xingfa Group, are rated as "Outperform" with projected earnings per share (EPS) growth [11]. - Yaqi International is expected to produce 2.8 million tons of potassium chloride in 2025, with a significant increase in production capacity anticipated [52].

Summary of Key Points Core Viewpoint - The June stock recommendations from 42 brokerage firms show a significant increase in the number of recommended stocks, with the pharmaceutical and biotechnology sector returning to the top of the industry recommendation rankings after three years, indicating a renewed market interest in cyclical industries [1][3]. Stock Recommendations - A total of 332 stocks received 457 recommendations, with 42 stocks from the ChiNext gaining 53 recommendations, 45 stocks from the STAR Market receiving 59 recommendations, and 43 Hong Kong stocks getting 62 recommendations, marking an increase of 6 and 7 stocks respectively compared to the previous month [1]. - Six stocks received recommendations from five brokerage firms: China Merchants Bank, Yara International, Smoore International, SF Holding, Qingdao Beer, and Haida Group [1]. - Six stocks received recommendations from four brokerage firms: Zijin Mining, China Mobile, Zhenhua Heavy Industries, Tencent Holdings, Hangzhou Bank, and Dongpeng Beverage [1]. Industry Rankings - The pharmaceutical and biotechnology sector achieved a recommendation rate of 10.2%, reclaiming the top position, while the electronics sector fell to second place with a recommendation rate of 9.3% [3]. - The food and beverage sector ranked third with a recommendation rate of 6.58%, and the machinery equipment sector ranked fourth with a rate of 6.35% [3]. - The coal industry saw a significant increase in recommendation rate by 59.6%, while the transportation sector increased by 52.1%, indicating a positive outlook for these industries [3]. Declining Industry Interest - The retail trade sector experienced a notable decline in recommendation rate by 43.17%, attributed to renewed trade tensions and previous excessive price increases [4]. - The defense and military industry saw a decrease of 34.77%, mainly due to the easing of the Russia-Ukraine situation [4]. - The automotive sector's recommendation rate dropped by 30.99%, reflecting concerns over industry competition [4]. Performance of Brokerage Recommendations - In May, 30 out of 45 brokerage firms reported positive returns, with the top performers being Guoyuan Securities (6.28%) and Caitong Securities (5.93%) [5][6]. - As of May 30, 36 out of 45 brokerage firms had positive returns for the year, with 16 firms achieving returns close to or exceeding 10% [6]. Market Outlook - Analysts suggest that June will see continued improvement in returns and win rates, with a focus on large-cap growth stocks, although the market is expected to remain volatile [7]. - The market sentiment has been affected by fluctuating U.S. tariff policies and slow progress in U.S.-China trade negotiations, which are key factors influencing market risk appetite [7].

The provided content does not contain any quantitative models or factors, nor does it include any related construction processes, formulas, or backtesting results. The document primarily focuses on company-specific financial performance, industry outlooks, and investment rationales for various stocks. There are no references to quantitative analysis, factor construction, or model testing within the text.

Quantitative Models and Construction Methods - **Model Name**: "Preferred Gold Stock Portfolio" **Model Construction Idea**: The model leverages the superior performance of newly introduced gold stocks and incorporates the "Surprise Earnings Factor" (SUE factor) to select stocks with outstanding earnings surprises [26] **Model Construction Process**: 1. Use newly introduced gold stocks as the sample pool 2. Select the top 30 stocks with the highest earnings surprises based on the SUE factor 3. Weight the portfolio based on the number of recommendations from brokers **Model Evaluation**: The model demonstrates better performance compared to the overall gold stock portfolio, with higher annualized returns and lower maximum drawdowns [26][28] Model Backtesting Results - **Preferred Gold Stock Portfolio**: - May Return: -1.1% - 2025 YTD Return: 6.5% - Annualized Return: 19.7% - Annualized Volatility: 25.4% - Return-to-Volatility Ratio: 0.78 - Maximum Drawdown: 24.6% [28][29] - **Overall Gold Stock Portfolio**: - May Return: 0.9% - 2025 YTD Return: 5.9% - Annualized Return: 11.0% - Annualized Volatility: 23.5% - Return-to-Volatility Ratio: 0.47 - Maximum Drawdown: 42.6% [24][28] Quantitative Factors and Construction Methods - **Factor Name**: Surprise Earnings Factor (SUE Factor) **Factor Construction Idea**: The factor identifies stocks with earnings significantly exceeding market expectations, which are likely to outperform [26] **Factor Construction Process**: 1. Calculate the earnings surprise for each stock as the difference between actual earnings and consensus estimates 2. Rank stocks based on the magnitude of earnings surprises 3. Select the top-performing stocks with the highest earnings surprises [26] **Factor Evaluation**: The SUE factor shows strong stock selection capabilities, particularly within newly introduced gold stocks [26] Factor Backtesting Results - **SUE Factor**: Integrated into the "Preferred Gold Stock Portfolio," contributing to its superior performance metrics compared to other portfolios [26][28]

Core Viewpoint - The monthly stock recommendations from brokerage firms reflect a comprehensive judgment on macroeconomic conditions, industry trends, and individual stock values, serving as an important reference for investors to observe market directions [1] Group 1: Market Analysis - As of June 2, 23 brokerage firms have released their assessments for the A-share market in June, with a total of 157 stocks included in the June "golden stock" list [2] - The top three industries represented in the recommendations are machinery and equipment, electronics, and pharmaceuticals, with 17, 14, and 13 stocks respectively [2] - East Wu Securities indicates that while U.S. tariff disruptions continue, their impact on the market is marginally weakening, suggesting that the overall impact on A-shares is controllable [2] - Zhongtai Securities anticipates some pressure in the market for June but expects a solid bottom, with potential upward options for A-shares in the medium term [2] Group 2: Stock Recommendations - A total of 21 stocks received recommendations from two or more brokerage firms, with Yara International (000893) and Dongpeng Beverage (605499) leading with four recommendations each [3] - Yara International's strengths include a recovering potassium fertilizer industry, successful expansion in production, and favorable tax policies [3] - Dongpeng Beverage reported a first-quarter revenue of 4.85 billion yuan, a year-on-year increase of 39.2%, and a net profit of 960 million yuan, up 53.5% year-on-year [3] Group 3: Performance Metrics - All 21 stocks on the June golden stock list reported profits in the first quarter, with 13 stocks showing a net profit growth of over 10% [4] - Yara International and Wanma Technology both saw their net profits double year-on-year [4] - Wanma Technology's first-quarter revenue grew by 78.24%, with a net profit increase of 237.89%, driven by growth in communication and vehicle networking businesses [4] - Juhua Co. achieved a net profit of 808 million yuan in the first quarter, a 160.64% increase, with a focus on high-quality development in pharmaceutical packaging [4]

Core Viewpoint - The June monthly "golden stocks" recommended by brokerages in the A-share market show a diverse range of investment opportunities, particularly in the machinery and pharmaceutical sectors, with several stocks experiencing significant positive returns in May [1][3][4]. Group 1: Stock Recommendations - Over 130 stocks have been recommended as "golden stocks" for June, with notable mentions including Yaqi International, Qingdao Beer, and Kaiying Network, covering various sectors such as food and beverage, communication, and machinery [2][3]. - Yaqi International has received joint recommendations from four brokerages, driven by the recovery in the potassium fertilizer industry and favorable tax policies [1][2]. - Qingdao Beer has been recommended by 15 brokerages in the last three months, with reasons including resource optimization and significant inventory replenishment potential [2]. Group 2: Industry Insights - The machinery and pharmaceutical sectors have the highest number of recommended stocks, with 15 and 13 stocks respectively, indicating strong investment interest [3][4]. - The controlled nuclear fusion industry is highlighted as a key investment opportunity, with ongoing projects attracting market attention and expected capital expenditure growth during the 14th Five-Year Plan [3]. - In the pharmaceutical sector, the current low valuation and positive macroeconomic recovery are expected to drive growth, particularly in the CXO industry and specialty raw materials [4].

5月份，格力电器和江苏银行均获得6家券商推荐，当月股价分别上涨4.11%、8.07%；海大集团获得5家 券商推荐，当月股价上涨9.25%。 券商金股组合指数的表现也能反映出券商研究所的业务实力。5月份，有26只券商金股组合指数实现上 涨，其中14只券商金股组合指数当月涨超3%。"国元证券金股指数"当月上涨11.91%，涨幅居首；"国盛 证券金股指数""华创证券金股指数""浙商证券金股指数"当月分别上涨5.29%、4.8%、4.63%。 本报记者 周尚伃 见习记者 于宏 近日，券商密集发布6月份金股名单。截至6月2日，券商已合计推荐132只金股，其中，亚钾国际被推荐 次数暂居第一，已获得4家券商推荐。从行业分布来看，上述132只金股中，来自工业和信息技术行业 （Wind一级行业，下同）的金股数量较多。展望6月份市场行情，多位券商分析师预计，科技、消费板 块仍为投资主线。 5月份最强金股涨超45% 回顾5月份，券商5月份合计推荐的272只金股中，132只金股当月股价实现上涨，占比48.53%。32只金 股当月股价涨幅超10%，占比11.76%。 具体来看，5月份涨幅最高的金股为天风证券推荐的潮宏基，当月涨幅为45 ...

Group 1: Metal and Mining Sector - Zijin Mining's copper production is expected to increase by 7% to 115,000 tons in 2025, with gold production rising by 16% to 85 tons[15] - The company's projected net profit for 2024 is 32.05 billion CNY, increasing to 42.06 billion CNY in 2025, and 49.36 billion CNY in 2026, with a PE ratio decreasing from 14.39 to 9.34[13] Group 2: Construction Materials Sector - China National Materials Technology's net profit is forecasted to grow from 0.89 billion CNY in 2024 to 2.10 billion CNY in 2026, with a significant increase in high-end product capacity[20] - Keda Manufacturing's overseas revenue is projected to rise from 20 billion CNY in 2017 to 80 billion CNY in 2024, with overseas revenue share increasing from 36% to 64%[30] Group 3: Chemical Sector - Yara International's net profit is expected to reach 0.2 billion CNY in 2024, 3.0 billion CNY in 2025, and 7.2 billion CNY in 2026, driven by the expansion of special glass fiber production[25] - Ba Tian Co. is projected to maintain a strong profit margin due to its diverse fertilizer product offerings, with a production capacity of 200,000 tons of phosphate rock annually[79] Group 4: Aviation Sector - Juneyao Airlines is expected to achieve a net profit of 1.05 billion CNY in 2024, increasing to 2.0 billion CNY in 2025, with a PE ratio of 27.2 in 2024 and dropping to 11.4 in 2026[70] - The airline's operational efficiency is highlighted by its leading cost control, with a significant reduction in financial expenses anticipated in the coming years[70]