Core Points - Zhejiang Xinhecheng Co., Ltd. announced a cash dividend distribution of 2 CNY per 10 shares, totaling approximately 611.72 million CNY based on a share base of 3,058,605,988 shares after excluding repurchased shares [1] - The record date for the dividend is set for October 17, 2025, and the ex-dividend date is October 20, 2025 [1] - Following the dividend distribution, the upper limit for the repurchase price of shares has been adjusted from 31.50 CNY to 31.30 CNY per share, effective from the ex-dividend date [1] - The expected range for the repurchase of shares is between 9,584,664 and 19,169,329 shares, representing approximately 0.31% to 0.62% of the total share capital [1]

根据公司披露的《关于回购公司股份方案的公告》《回购股份报告书》（公告 编号：2025-010、2025-023）相关规定，若公司在回购期间内发生资本公积转增 股本、派发红利、送红股等除权除息事宜，自股价除权除息之日起，按照中国证 监会及深圳证券交易所的相关规定相应调整回购价格。公司 2025 年 5 月 21 日实 施 2024 年年度权益分派，回购价格由不超过人民币 32 元/股调整为不超过人民 币 31.5 元/股。 证券代码：002001 证券简称：新和成 公告编号：2025-045 浙江新和成股份有限公司 关于回购公司股份进展的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 浙江新和成股份有限公司（以下简称"公司"）于2025年4月11日召开的第 九届董事会第十一次会议审议通过《关于回购公司股份方案的议案》，同意公司 使用自有资金或回购专项贷款以集中竞价交易的方式回购公司部分社会公众股 份，用于实施股权激励计划或员工持股计划。本次回购金额区间为30,000万元 -60,000万元，回购价格不超过人民币32元/股，具体回购股份的数量及占总股本 的比 ...

证券代码：002001 证券简称：新和成 公告编号：2025-046 浙江新和成股份有限公司 2025 年半年度权益分派实施公告 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、误导性陈述或重大遗漏。 特别提示： 注：根据《上市公司股份回购规则》的规定，上市公司回购专用账户中的股份不享有利 润分配和资本公积金转增股本的权利。 3、本次实施的分配方案与 2025 年第二次临时股东大会审议通过的分配方案 及其调整原则一致。 4、本次实施分配方案距 2025 年第二次临时股东大会审议通过的时间未超过 两个月。 二、权益分派方案 截至本公告日，浙江新和成股份有限公司（以下简称"本公司"或"公司"） 总股本为 3,073,421,680 股，公司回购专用证券账户持有公司股份 14,815,692 股， 根据《上市公司股份回购规则》的规定，回购专用证券账户股份不享有利润分配 和资本公积金转增股本的权利。本次权益分派实施后，按公司总股本（含回购股 份）折算每 10 股现金分红（含税）及除权除息参考价如下： 公司本次实际现金分红总金额（含税）=实际参与分配股本×分配比例，即 611,721,197. ...

证券日报网讯 新和成（002001）9月30日在互动平台回答投资者提问时表示，公司生产的维生素A和维 生素E产品涵盖了饲料级、食品级和医药级等多个级别，以满足不同领域的需求。在高端维生素A和维 生素E方面，公司拥有相关产品，并且在全球范围内具有显著的竞争力。公司已获得美国、欧洲、日本 等主要市场的市场准入资格，产品在这些市场得到了广泛认可。 ...

（编辑 任世碧） 证券日报网讯 新和成9月30日在互动平台回答投资者提问时表示，公司销售的蛋氨酸产品包括固体蛋氨 酸和液体蛋氨酸。与中石化镇海炼化合资合作的18万吨/年液体蛋氨酸（折纯）项目已试生产，目前已 成功产出合格产品。公司将持续通过技术开发和产品创新，不断研发功能性化学品，丰富精细"化工 +""生物+"平台的产品线，做优做专精细化工主业，不断提高核心竞争力。 ...

Investment Rating - The report maintains an "Add" rating for the company [5] Core Views - The company is a leading player in the domestic market for Vitamin A, Vitamin E, and methionine, with the methionine project entering trial operation, which is expected to gradually contribute to profits [5] - The company achieved significant year-on-year growth in revenue and net profit in the first half of 2025, with revenue reaching 11.101 billion yuan, up 12.76% year-on-year, and net profit of 3.603 billion yuan, up 63.46% year-on-year [4][5] - The report highlights the company's focus on cost reduction and efficiency improvement in production, alongside the steady progress of various projects [4][5] Financial Summary - Revenue projections for 2025-2027 are estimated at 23.938 billion, 26.136 billion, and 28.785 billion yuan, respectively, with net profits projected at 6.741 billion, 7.139 billion, and 7.641 billion yuan [5][6] - The company’s earnings per share (EPS) are expected to be 2.19, 2.32, and 2.49 yuan for 2025, 2026, and 2027, respectively [6][12] - The report indicates a projected price-to-earnings (P/E) ratio of 10.83, 10.23, and 9.55 for the years 2025, 2026, and 2027, respectively [5][12] Market Performance - The company’s stock has shown a 52-week increase of 21.48% [4] - The report notes a decline in the prices of major products in Q2 2025, with Vitamin A and Vitamin E prices decreasing by 14.73% and 22.90% respectively, while methionine prices increased by 2.30% [4][5]

Financial Performance - In the first half of 2025, the company achieved a revenue of 11.101 billion yuan, a year-on-year increase of 12.76% [1] - The net profit attributable to shareholders was 3.603 billion yuan, reflecting a significant year-on-year growth of 63.46% [1] - For Q2 2025, the company reported a revenue of 5.661 billion yuan, up 5.89% year-on-year and 4.07% quarter-on-quarter [1] - The net profit for Q2 2025 was 1.723 billion yuan, showing a year-on-year increase of 29.12% but a quarter-on-quarter decrease of 8.32% [1] Product Development and Market Expansion - The company is actively promoting new products such as HA series and tryptophan while maintaining its market advantage in existing products [2] - The liquid methionine project in partnership with Sinopec is in trial production, and the Tianjin nylon new materials project has completed compliance approvals [2] - Other technical upgrades and management improvement projects are progressing steadily, with new project planning being conducted in an orderly manner [2] Pricing and Market Trends - Prices for major products showed a mixed trend, with some prices decreasing quarter-on-quarter while others increased year-on-year [3] - The average prices for vitamins A, E, D3, C, and methionine in Q2 2025 were 73.67, 104.38, 237.15, 21.04, and 22.27 yuan/kg, respectively [3] - The nutrition products segment generated a revenue of 7.200 billion yuan in H1 2025, a year-on-year increase of 7.78%, with a gross margin of 47.79%, up 11.93 percentage points year-on-year [3] Future Outlook - The company is a leading player in the domestic market for vitamins A, E, and methionine, with the methionine project expected to gradually contribute to profits [4] - Revenue forecasts for 2025-2027 are projected at 23.938 billion, 26.136 billion, and 28.785 billion yuan, with net profits of 6.741 billion, 7.139 billion, and 7.641 billion yuan, respectively [4] - The price-to-earnings ratios for 2025-2027 are estimated to be 10.83, 10.23, and 9.55 times, maintaining a "buy" rating [4]

Group 1 - The company sells methionine products including solid methionine and liquid methionine [2] - The joint venture with Sinopec Zhenhai Refining & Chemical has successfully produced qualified products from an 180,000 tons/year liquid methionine (pure) project [2] - The company plans to continue developing functional chemicals through technological innovation and product development, enhancing its core competitiveness in the fine chemical sector [2]

Core Insights - The vitamin sector experienced a decline of 0.18% as of the market close on September 29, with *ST Suwu hitting the daily limit down, while stocks like Jilin Aodong, Keyuan Pharmaceutical, and Haixin Co. saw gains of 6.69%, 1.93%, and 1.83% respectively [1][2][3] Market Performance - The vitamin sector ranked among the top decliners, with significant losses observed in stocks such as *ST Suwu (-4.76%), Jincheng Pharmaceutical (-4.49%), and Huaheng Biological (-3.59%) [1][2] - Conversely, Jilin Aodong led the gains in the sector with a notable increase of 6.69%, followed by Keyuan Pharmaceutical and Haixin Co. [1][3] Capital Flow - The vitamin sector saw a net outflow of 374 million yuan, with 54 stocks experiencing net outflows, and 18 stocks seeing outflows exceeding 10 million yuan [1] - The stock with the highest net outflow was Angel Yeast, with 78.26 million yuan, followed by Jincheng Pharmaceutical and New Hecheng with outflows of 39.04 million yuan and 26.95 million yuan respectively [1][2] - In contrast, the stocks with the highest net inflows included Jilin Aodong (106 million yuan), Chuaning Biological (6.01 million yuan), and Shuoshi Biological (5.10 million yuan) [1][3]

Investment Rating - The report maintains an "Overweight" rating for the petrochemical and basic chemical sectors [6]. Core Insights - The petrochemical industry is expected to experience a recovery in prosperity due to the implementation of the "Stabilization Growth Work Plan" for 2025-2026, which aims to enhance high-end supply and optimize capacity in various sub-sectors [1][2]. - The report highlights the importance of controlling new capacity for key products such as refining, ethylene, PX, and coal-to-methanol, which is anticipated to improve the supply structure [2]. - The focus on fertilizer production stability and the development of new types of fertilizers is expected to continue, with recommendations for companies in this sector [3]. - The report emphasizes the acceleration of new materials and emerging technologies in the chemical industry, driven by policy support for high-end supply and digital transformation [4]. Summary by Sections Section 1: Industry Growth Policies - The Ministry of Industry and Information Technology and other departments have issued a plan to stabilize growth in the petrochemical industry, focusing on high-end supply and project management [1]. - The plan includes measures to enhance supply optimization and support the development of high-end chemical materials in electronics, new energy, and medical equipment [1]. Section 2: Capacity Control and Supply Optimization - The plan specifies strict control over new refining capacity and reasonable planning for the addition of ethylene, PX, and coal-to-methanol capacities, supporting the replacement and upgrading of old facilities [2]. - In 2024, China's refining, PX, and methanol capacities are projected to decrease by 1%, remain unchanged, and increase by 2% respectively, indicating a significant slowdown in capacity growth [2]. Section 3: Fertilizer Production Stability - The plan aims to optimize the production management of key fertilizer companies and ensure stable raw material supply through long-term contracts [3]. - The report notes that the prices of some upstream raw materials have risen significantly, which may impact fertilizer production [3]. Section 4: Development of New Materials and Technologies - The report anticipates accelerated development of high-end chemical materials and emerging technologies, including carbon capture and green ammonia applications [4]. - It encourages the development of new materials in sectors such as integrated circuits, new energy, and medical devices, with a focus on innovation and domestic substitution [4]. Section 5: Company Recommendations - The report recommends several companies based on their potential to benefit from the outlined policies, including: - **Buy**: Yun Tianhua, Dongcai Technology, Hualu Hengsheng, and Luxi Chemical [7]. - **Overweight**: Hengli Petrochemical, Huayi Group, Tongkun Co., Guangwei Composite, Xinfeng Group, and Wanwei High-tech [7].