Investment Rating - The report maintains an "Outperform" rating for the basic chemical industry [2] Core Viewpoints - The basic chemical sector has shown better performance than the market, with a year-to-date increase of 8.9%, outperforming the Shanghai Composite Index by 4.2 percentage points [4][16] - The global potash market is characterized by oligopoly, with major producers controlling supply and prices. Recent production cuts by key players are expected to sustain potash market conditions [5][27] - Phosphate supply remains tight, with stable prices and potential improvements in export opportunities as demand increases [5][27] Summary by Sections 1. Core Viewpoints - Policies are expected to improve supply-demand dynamics in the chemical sector, with a focus on cyclical investment opportunities [13] - The chemical industry is entering a new long-term prosperity cycle, driven by improved fundamentals and reduced risks [13][14] 2. Overall Performance of the Chemical Sector - The basic chemical industry index increased by 1.5% during the week, outperforming the Shanghai Composite Index by 0.4 percentage points [16] - Year-to-date, the basic chemical industry index has increased by 8.9%, significantly outperforming both the Shanghai Composite and ChiNext indices [16][18] 3. Individual Stock Performance in the Chemical Sector - Among 424 stocks in the basic chemical sector, 298 stocks rose while 123 fell during the week [25] - The top performers included companies like Shangwei New Materials (+72.9%) and Hongbo New Materials (+24.7%) [25][26] 4. Key News and Company Announcements - The autumn fertilizer preparation has begun, with a focus on investment opportunities in potash and phosphate fertilizers [27] - Major potash producers have announced production cuts, which are expected to tighten supply and support prices [5][27] - Phosphate prices remain stable, with potential for improved export conditions as demand increases [5][27] 5. Product Price Changes - The report highlights significant price increases in various chemical products, with notable gains in dimethylamine (+16.7%) and fatty alcohol (+8.2%) [6] - Conversely, urea prices have seen a significant decline (-15%) [6]

Investment Rating - The report maintains a positive outlook on the chemical industry, with specific buy and hold recommendations for various companies [2][20]. Core Insights - The report highlights the closure of Dow's organic silicon production capacity in Barry, UK, which is expected to increase domestic export demand and support the upstream industrial silicon costs, indicating a potential reversal in the organic silicon industry [4][5]. - The demand for high-end AI PCBs is projected to surge due to the continuous growth in computing power requirements, driven by GPU, ASIC, and 800G switch technologies [4]. - The report notes that the recent tariff announcements from the US on imports from Southeast Asia are lower than expected, stabilizing pessimistic market sentiments [4]. Industry Dynamics - The macroeconomic outlook for the chemical industry indicates a significant increase in oil supply led by non-OPEC countries, with a stable global GDP growth rate of 2.8% [5]. - The report mentions that coal prices are expected to decline in the medium to long term, alleviating pressure on downstream sectors [5]. - Natural gas exports from the US are anticipated to accelerate, potentially lowering import costs [5]. Company Recommendations - Companies to watch in the organic silicon sector include Dongyue Silicon Materials, Xin'an Chemical, and Xingfa Group [4]. - In the PCB sector, recommended companies include Shengquan Group, Dongcai Technology, Lianrui New Materials, Yake Technology, Tiancheng Technology, and Jiuri New Materials [4]. - For traditional cyclical stocks, the report suggests focusing on leading companies in various segments such as Wanhu Chemical, Hualu Hengsheng, and Baofeng Energy [4]. Price Trends - The report provides specific price movements for various chemical products, such as PTA prices decreasing by 2.8% to 4715 RMB/ton, while MEG prices increased by 0.7% to 4409 RMB/ton [11]. - Urea prices rose by 2.9% to 1800 RMB/ton, while phosphate prices remained stable [12]. - The report notes that the price of DMC increased by 1.9% to 11000 RMB/ton, indicating a recovery in the organic silicon market [15].

Group 1 - The company held its 13th meeting of the 9th Board of Directors on July 11, 2025, with all 9 directors present, ensuring compliance with legal and procedural requirements [1] - The Board approved the proposal to supplement an independent director, Qi Wenhao, to serve for the same term as the current Board [1][2] - The Board also approved the adjustment of the specialized committees, appointing Qi Wenhao as a member of the Audit Committee, Nomination Committee, and Compensation and Assessment Committee, pending shareholder approval [2][3] Group 2 - The company plans to hold the 2025 Second Extraordinary General Meeting of Shareholders on July 29, 2025, at 14:00 [3] - All proposals discussed during the Board meeting received unanimous approval, with 9 votes in favor and no opposition or abstentions [2][3]

证券代码：000902 证券简称：新洋丰 公告编号：2025－041 月 29 日的交易时间，即 9:15-9:25、9:30-11:30 和 13:00-15:00；通过深圳证券交易 所互联网投票系统进行网络投票的时间为 2025 年 7 月 29 日 9:15 -15:00 期间的任意时 间。 债券代码：127031 债券简称：洋丰转债 新洋丰农业科技股份有限公司 关于召开 2025 年第二次临时股东会的通知 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、 误导性陈述或者重大遗漏。 新洋丰农业科技股份有限公司（以下简称"公司"）第九届董事会第十三次会议审 议通过了《关于提请召开 2025 年第二次临时股东会的议案》。根据上述董事会决议，公 司决定于 2025 年 7 月 29 日（星期二）14：00 召开 2025 年第二次临时股东会，本次会 议采取现场表决与网络投票相结合的方式召开，现将有关事项通知如下： 一、召开会议的基本情况 （一）股东会届次：2025 年第二次临时股东会。 （二）股东会的召集人：公司董事会。2025 年 7 月 11 日，公司第九届董事会第十 三次会议审议 ...

新洋丰农业科技股份有限公司 独立董事候选人声明与承诺 声明人齐文浩作为新洋丰农业科技股份有限公司第九届董事会独立董事候 选人，已充分了解并同意由提名人新洋丰农业科技股份有限公司董事会提名为新 洋丰农业科技股份有限公司（以下简称该公司）第九届董事会独立董事候选人。 现公开声明和保证，本人与该公司之间不存在任何影响本人独立性的关系，且符 合相关法律、行政法规、部门规章、规范性文件和深圳证券交易所业务规则对独 立董事候选人任职资格及独立性的要求，具体声明并承诺如下事项： 一、本人已经通过新洋丰农业科技股份有限公司第九届董事会提名委员会或 者独立董事专门会议资格审查，提名人与本人不存在利害关系或者其他可能影响 独立履职情形的密切关系。 是 □否 如否，请详细说明：______________________________ 二、本人不存在《中华人民共和国公司法》第一百七十八条等规定不得担任 公司董事的情形。 是 □否 如否，请详细说明：______________________________ 三、本人符合中国证监会《上市公司独立董事管理办法》和深圳证券交易所 业务规则规定的独立董事任职资格和条件。 是 □否 如否 ...

新洋丰农业科技股份有限公司 独立董事提名人声明与承诺 提名人新洋丰农业科技股份有限公司董事会 现就提名齐文浩为新洋丰农业 科技股份有限公司第九届董事会独立董事候选人发表公开声明。被提名人已书面 同意作为新洋丰农业科技股份有限公司第九届董事会独立董事候选人（参见该独 立董事候选人声明）。本次提名是在充分了解被提名人职业、学历、职称、详细 的工作经历、全部兼职、有无重大失信等不良记录等情况后作出的，本提名人认 为被提名人符合相关法律、行政法规、部门规章、规范性文件和深圳证券交易所 业务规则对独立董事候选人任职资格及独立性的要求，具体声明并承诺如下事项： 一、被提名人已经通过新洋丰农业科技股份有限公司第九届董事会提名委员 会或者独立董事专门会议资格审查，提名人与被提名人不存在利害关系或者其他 可能影响独立履职情形的密切关系。 ☑ 是 □否 如否，请详细说明：______________________________ 二、被提名人不存在《中华人民共和国公司法》第一百七十八条等规定不得 担任公司董事的情形。 ☑ 是 □否 如否，请详细说明：______________________________ 三、被提名人符合 ...

关于公司独立董事辞职及补选独立董事的公告 | 证券代码：000902 | 证券简称：新洋丰 | 编号：2025-040 | | --- | --- | --- | | 债券代码：127031 | 债券简称：洋丰转债 | | 新洋丰农业科技股份有限公司 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。 新洋丰农业科技股份有限公司（以下简称"公司"）于 2025 年 7 月 11 日召开第九届董 事会第十三次会议，审议通过了《关于补选公司第九届董事会独立董事的议案》，现将有关 情况公告如下： 一、独立董事离任情况 董事会于近日收到独立董事高永峰先生提交的书面辞职报告，高永峰先生因个人原因 申请辞去公司第九届董事会独立董事及专门委员会相关职务，辞职后不再担任公司任何职 务。 为保障公司董事会工作的正常开展，根据《上市公司独立董事管理办法》《深圳证券交 易所股票上市规则》等有关规定，经公司第九届董事会提名委员会审核通过，公司于 2025 1 为确保公司董事会及专门委员会人数符合相关要求，高永峰先生离任将自公司股东会 选举产生新任独立董事后生效。在此期间，高永峰先生仍将继 ...

关于召开 2025 年第二次临时股东会的通知 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、 误导性陈述或者重大遗漏。 | 证券代码：000902 | 证券简称：新洋丰 | 公告编号：2025－041 | | --- | --- | --- | | 债券代码：127031 | 债券简称：洋丰转债 | | 新洋丰农业科技股份有限公司 新洋丰农业科技股份有限公司（以下简称"公司"）第九届董事会第十三次会议审 议通过了《关于提请召开 2025 年第二次临时股东会的议案》。根据上述董事会决议，公 司决定于 2025 年 7 月 29 日（星期二）14：00 召开 2025 年第二次临时股东会，本次会 议采取现场表决与网络投票相结合的方式召开，现将有关事项通知如下： 一、召开会议的基本情况 （一）股东会届次：2025 年第二次临时股东会。 （二）股东会的召集人：公司董事会。2025 年 7 月 11 日，公司第九届董事会第十 三次会议审议通过了《关于提请召开 2025 年第二次临时股东会的议案》。 （三）会议召开的合法、合规性：公司董事会决议召开本次股东会符合有关法律、 行政法规、部门规章、规 ...

新洋丰农业科技股份有限公司 第九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，没有虚假记载、 误导性陈述或者重大遗漏。 一、董事会会议召开情况 | 证券代码：000902 | 证券简称：新洋丰 | 编号：2025-039 | | --- | --- | --- | | 债券代码：127031 | 债券简称：洋丰转债 | | 本议案尚需提交公司 2025 年第二次临时股东会审议通过。 新洋丰农业科技股份有限公司（以下简称"公司"）第九届董事会第十三次会议通 知于 2025 年 7 月 7 日以书面和电子邮件方式发出，会议于 2025 年 7 月 11 日在湖北省 荆门市月亮湖北路附七号洋丰培训中心七楼会议室召开。应出席本次会议的董事 9 名， 实际出席本次会议的董事 9 名，董事长杨才学先生，副董事长杨华锋先生，董事杨小红 女士、宋帆先生、王险峰先生现场出席了本次会议，副董事长杨磊先生，独立董事张永 冀先生、高永峰先生、赵彦彬先生以电子通信方式参加了本次会议，公司监事及部分高 级管理人员列席了本次会议，会议由董事长杨才学先生主持。会议的通知、召集、召开 和表决程序符合《 ...

Investment Rating - The report maintains a "Buy" rating for several companies including Xinyangfeng, Senqilin, Ruifeng New Materials, Sinopec, and others [10]. Core Viewpoints - The report suggests focusing on import substitution, pure domestic demand, and high dividend opportunities in the chemical industry [6][20]. - The international oil price is expected to stabilize between $65 and $70 per barrel in 2025, influenced by geopolitical factors and trade agreements [6][21]. - The chemical industry is currently experiencing a mixed performance, with some sectors like lubricants showing better-than-expected results, while others remain weak due to overcapacity and weak demand [20][21]. Summary by Sections Chemical Industry Investment Suggestions - Key products with significant price increases include butanone (up 13.55%), urea (up 13.16%), and TDI (up 6.73%) [17]. - Products with notable price declines include methanol (down 9.84%), PS (down 9.62%), and pure MDI (down 8.89%) [17][20]. - The report emphasizes the importance of focusing on sectors like glyphosate, fertilizers, and companies with strong domestic demand [20][21]. Market Performance - The basic chemical sector has shown a performance of 20.4% over the past 12 months, outperforming the Shanghai Composite Index [2]. - The report highlights the volatility in international oil prices, with Brent crude at $68.30 per barrel and WTI at $66.50 per barrel as of July 4 [6][21]. Company Focus and Earnings Forecast - Specific companies recommended for investment include Xinyangfeng, Senqilin, Ruifeng New Materials, Sinopec, and others, with projected earnings per share (EPS) growth and favorable price-to-earnings (PE) ratios [10]. - The report suggests that companies like China National Petroleum and China National Offshore Oil Corporation are attractive due to their high dividend yields [6][20].