数据来源：天眼查APP 证券之星消息，根据天眼查APP数据整理，近日，深圳安矿智能科技有限公司成立，法定代表人为廖文 文，注册资本1000万元，经营范围包含：一般经营项目：机械设备研发；机械设备销售；机械设备租 赁；工业机器人制造；工业机器人销售；工业机器人安装、维修；智能机器人销售；智能机器人的研 发；人工智能硬件销售；智能物料搬运装备销售；软件开发；软件销售；环境保护专用设备制造；环境 保护专用设备销售；安全咨询服务；人工智能基础资源与技术平台；智能控制系统集成；信息技术咨询 服务；采矿行业高效节能技术研发；技术服务、技术开发、技术咨询、技术交流、技术转让、技术推 广。（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）许可经营项目：无。天眼查APP 股权穿透显示，该公司由芭田股份全资持股。 证券之星消息，根据天眼查APP数据整理，近日，深圳安矿智能科技有限公司成立，法定代表人为廖文 文，注册资本1000万元，经营范围包含：一般经营项目：机械设备研发；机械设备销售；机械设备租 赁；工业机器人制造；工业机器人销售；工业机器人安装、维修；智能机器人销售；智能机器人的研 发；人工智能硬件销售；智能物料搬运 ...

Market Overview - In November, A-shares and Hong Kong stocks experienced a trend of high-low switching, with the ChiNext Index down 4.23% and the Hang Seng Tech Index down 5.23%[5] - The market's focus shifted towards defensive sectors as funds moved from high-valuation growth stocks to low-valuation cyclical stocks and dividend assets[5] Investment Strategy - December's market is expected to maintain an upward trend, with a short-term oscillating structure anticipated[5] - Key events include the Central Economic Work Conference and various industry conferences that may create investment opportunities[5] Key Investment Themes - Focus on "anti-involution" policies which are expected to improve industry performance, particularly in resource sectors benefiting from rising commodity prices[5] - Emphasis on overseas expansion themes, with Chinese high-end manufacturing expected to gain market share globally[5] Recommended Stocks - Zijin Mining (601899.SH) projected EPS growth from 1.21 in 2024 to 2.83 in 2027, with a PE ratio decreasing from 23.62 to 10.10[7] - Electric Power Investment (002128.SZ) expected to see EPS rise from 2.38 in 2024 to 2.75 in 2027, with a PE ratio decreasing from 10.9 to 9.45[27] Financial Performance - Zijin Mining's revenue is projected to grow from 303.64 billion yuan in 2024 to 381.84 billion yuan in 2027, with a net profit increase from 32.05 billion yuan to 75.22 billion yuan[18] - Electric Power Investment's revenue is expected to increase from 298.59 billion yuan in 2024 to 371.25 billion yuan in 2027, with net profit rising from 5.34 billion yuan to 6.17 billion yuan[27] Risk Factors - Risks include unexpected policy changes, underperformance in commercialization, and slower-than-expected product development[5]

Core Viewpoint - The price of phosphate rock remains high due to a sustained increase in chemical prices, leading to a surge in resource acquisition and capacity integration among listed companies in the industry [1][2]. Group 1: Phosphate Rock Prices and Market Dynamics - As of December 2, the average market price for 30% grade phosphate rock in China is 1016 CNY/ton, while 28% and 25% grades are priced at 945 CNY/ton and 758 CNY/ton respectively [1]. - Industry insiders predict that phosphate rock prices will maintain a "tight balance" in the short term, benefiting companies with a complete "mining and processing" integrated industrial chain [1][2]. Group 2: Company Developments and Resource Acquisition - Baitian Co. announced the approval of its Xiaogaozai phosphate mine expansion project, increasing its capacity from 200,000 tons/year to 290,000 tons/year, which will enhance its phosphate output and optimize its upstream and downstream industries [2]. - Xingfa Group has acquired exploration rights for the Yangliudong mining area and is progressing with mining preparations for its subsidiary, which has obtained a mining license for 200,000 tons/year [2]. Group 3: Resource Acquisition Strategies - Companies are utilizing various strategies for resource acquisition, including "major shareholder support models" where controlling shareholders inject quality phosphate resources into listed companies [3]. - Market-based mergers and acquisitions are also prevalent, with companies like Xingfa Group and Dongfang Tieta actively expanding their equity production through acquisitions [3]. Group 4: Supply and Demand Outlook - Despite concerns about potential oversupply from new capacities, the phosphate supply is expected to remain in a "tight balance" due to constraints in transitioning from mining rights to effective supply [4][5]. - The demand from the renewable energy sector, particularly for lithium iron phosphate, is projected to increase, potentially driving up phosphate demand in the coming years [5][6]. Group 5: Financial Performance of Key Players - Companies with phosphate resources and integrated industrial chains, such as Baitian Co. and Chuanjin Nuo, have reported significant profit increases, with net profits growing by 236.13% and 175.61% respectively in the first three quarters of the year [7]. - The focus on resource acquisition and integration is seen as a critical factor for future performance, with companies aiming to secure more quality phosphate resources through various strategies [7]. Group 6: International Expansion and Industry Trends - Some leading chemical companies are looking to overseas phosphate resources, with Hebang Biological planning to invest in Australian phosphate resources to enhance its production capabilities [8]. - The consensus in the industry is that companies with scarce phosphate resources and integrated operations will have a competitive advantage in the long term, driving the industry towards sustainable development [8].

经营范围含一般经营项目是：机械设备研发；机械设备销售；机械设备租赁；工业机器人制造；工业机 器人销售；工业机器人安装、维修；智能机器人销售；智能机器人的研发；人工智能硬件销售；智能物 料搬运装备销售；软件开发；软件销售；环境保护专用设备制造；环境保护专用设备销售；安全咨询服 务；人工智能基础资源与技术平台；智能控制系统集成；信息技术咨询服务；采矿行业高效节能技术研 发；技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广。（除依法须经批准的项目外， 凭营业执照依法自主开展经营活动），许可经营项目是：无 企业名称深圳安矿智能科技有限公司法定代表人廖文文注册资本1000万人民币国标行业制造业>计算 机、通信和其他电子设备制造业>电子器件制造地址深圳市南山区粤海街道滨海社区高新南十道63号高 新区联合总部大厦30层企业类型有限责任公司(法人独资)营业期限2025-12-2至无固定期限 来源：市场资讯 天眼查显示，近日，深圳安矿智能科技有限公司成立，法定代表人为廖文文，注册资本1000万人民币， 由深圳市芭田生态工程股份有限公司全资持股。 序号股东名称持股比例1深圳市芭田生态工程股份有限公司100% ...

Core Insights - A total of 21 buy ratings were issued by institutions today, covering 20 stocks, with Guizhou Moutai receiving the highest attention with two buy ratings [1][2] - Among the rated stocks, 11 provided future target prices, with 7 stocks showing an upside potential exceeding 20%, led by Guizhou Moutai with a target price of 2600.00 CNY, indicating a potential increase of 79.56% [1][2] - The average increase for stocks with buy ratings today was 0.82%, outperforming the Shanghai Composite Index, with notable gainers including Hu Guang Co., Sophia, and Shenzhou Digital [1][2] Company Summaries - Guizhou Moutai received a strong buy rating from Huachuang Securities with a target price of 2600.00 CNY, compared to the latest closing price of 1448.00 CNY [2] - Dongpeng Beverage also received a strong buy rating from Huachuang Securities with a target price of 340.00 CNY, latest closing at 269.03 CNY [2] - Shenzhou Digital was rated as "Increase" by Guotai Junan with a target price of 55.97 CNY, latest closing at 41.27 CNY [2] - Hu Guang Co. was rated as "Strong Buy" by Huachuang Securities with a target price of 37.90 CNY, latest closing at 31.30 CNY [2] - Other notable stocks include Jerry Shares, which was rated "Increase" with a target price of 73.20 CNY, latest closing at 62.07 CNY [2] Industry Insights - The basic chemical industry was the most favored, with stocks like Huhua Co. and Chuanheng Co. receiving buy ratings [2] - The computer and automotive industries also attracted attention, with two stocks each receiving buy ratings [2]

Core Viewpoint - The expansion of the design capacity of the Xiaogaozhai phosphate mine from 2 million tons per year to 2.9 million tons per year will enhance the company's phosphate production and optimize the upstream and downstream industrial chain, further implementing its integrated phosphate chemical strategy [1] Group 1 - The expansion of the Xiaogaozhai phosphate mine is expected to increase phosphate production and improve the efficiency of phosphate resource utilization [1] - The project will enhance the production capacity of mining and selection to 2.9 million tons per year and 1.2 million tons per year, respectively, while also upgrading to 5G technology to create a smart mine [1] - The completion of the project will meet the growing market demand for phosphate and improve the company's competitiveness and economic benefits [1]

Group 1 - The core point of the article is that Batian Co., Ltd. announced a board meeting to discuss the temporary use of idle raised funds to supplement working capital [1] - For the first half of 2025, Batian's revenue composition is as follows: chemical fertilizer manufacturing accounts for 59.65%, phosphate mining accounts for 39.26%, and new energy materials account for 1.09% [1] - As of the report date, Batian's market capitalization is 11.2 billion yuan [1] Group 2 - Dapeng Industrial's strategic placement has significantly benefited its insiders, with a subscription price of 9 yuan and a first-day listing price of 118 yuan, resulting in a paper profit of 24.92 million yuan for the controlling shareholder and his brother [1]

Core Viewpoint - Despite significant revenue growth driven by high phosphate rock prices, the company faces serious challenges in its green development path due to environmental violations by its subsidiaries [1][4]. Group 1: Environmental Violations - The company's subsidiary, Guizhou Batian New Energy Materials Co., Ltd., was fined 390,000 yuan for operating its 50,000 tons/year phosphoric acid project without completing necessary environmental protection facilities [2]. - The total manager of the subsidiary was also fined 78,000 yuan, resulting in a "double penalty" for the same incident [2]. - This marks the second administrative penalty for the company this year, with previous fines related to significant safety hazards at its phosphate mining project [1][3]. Group 2: Financial Performance - The company anticipates a net profit attributable to shareholders between 450 million yuan and 520 million yuan for the first half of 2025, representing a substantial year-on-year increase of 199.60% to 246.20% [3]. - For the first three quarters of 2025, the company reported revenue of 3.809 billion yuan, a year-on-year increase of 56.50%, and a net profit of 687 million yuan, up 236.13% [3]. - In Q3 2025, the company achieved revenue of 1.266 billion yuan, a year-on-year increase of 43.45%, but a quarter-on-quarter decline of 11.59% [3]. Group 3: ESG Considerations - The company's environmental compliance issues come at a time when investors are increasingly focused on sustainable development and ESG (Environmental, Social, and Governance) principles [4]. - The approaching deadline for rectifying the environmental issues at the phosphoric acid project raises questions about the company's ability to balance growth and environmental responsibility [4].

中天国富证券有限公司 关于深圳市芭田生态工程股份有限公司 公司本次向特定对象发行 A 股股票募集资金扣除发行费用后，投资于以下项目： 单位：万元 | 序号 | 项目名称 | 项目总投资 | 拟投入募集资金 | | --- | --- | --- | --- | | 1 | 硝酸法生产高纯磷酸项目 | 171,776.59 | 35,000.00 | | 2 | 补充流动资金及偿还银行贷款 | 30,000.00 | 15,000.00 | | | 合计 | 201,776.59 | 50,000.00 | （二）募集资金投资项目变更情况 再次使用部分闲置募集资金暂时补充流动资金的核查意见 中天国富证券有限公司（以下简称"中天国富、"保荐人"）作为深圳市芭田生态 工程股份有限公司（以下简称"芭田股份"、"公司"）向特定对象发行股票（以下简称 "本次发行"）的保荐人，根据 《证券发行上市保荐业务管理办法》《上市公司募集 资金监管规则》《深圳证券交易所上市公司自律监管指引第1号——主板上市公司规范 运作》等有关规定，对芭田股份使用部分闲置募集资金暂时补充流动资金的事项进行 了审慎的核查，具体核查情况如下： 一、募集 ...

关于再次使用部分闲置募集资金暂时补充流动资金的公告 深圳市芭田生态工程股份有限公司（以下简称"公司"）于 2025 年 11 月 24 日召开 第九届董事会第三次会议，审议通过了《关于再次使用部分闲置募集资金暂时补充流 动资金的议案》，为提高公司募集资金使用效率，降低财务费用，同意公司在确保不 影响募投项目建设的前提下，使用不超过 24,700.00 万元的闲置募集资金暂时补充流动 资金，该资金仅限使用于与子公司主营业务相关的生产经营，补充流动资金的期限自 董事会审议通过之日起不超过 12 个月，到期前或募投项目需要时及时归还至募集资金 专户。该事项在董事会审批权限范围内，无需提交股东会审议。现将具体事项公告如 下： 证券代码:002170 证券简称:芭田股份 公告编号:25-92 深圳市芭田生态工程股份有限公司 关于再次使用部分闲置募集资金暂时 补充流动资金的公告 一、募集资金的基本情况 经 2023 年 12 月 4 日中国证券监督管理委员会《关于同意深圳市芭田生态工程股 份有限公司向特定对象发行股票注册的批复》（证监许可[2023]2724 号）核准，本公 司向特定对象发行 A 股股票，由中天国富证券有 ...