Investment Rating - The report maintains a "Positive" rating for the chemical industry [4][3]. Core Insights - The macroeconomic outlook for the chemical industry indicates a stable increase in oil demand due to global economic recovery and tariff adjustments, with Brent crude oil expected to remain in the range of $60-75 per barrel [4][5]. - The report highlights a potential spring boom in the chemical sector, driven by the success of domestic robotics showcased during the Spring Festival and favorable export conditions following tariff reductions [4][3]. - Investment opportunities are identified in various chains, including textiles, agricultural chemicals, and overseas real estate, with specific companies recommended for investment [4][3]. Industry Dynamics - Oil supply is tightening due to OPEC+ production delays and peak shale oil output, while demand is stabilizing with improved global economic conditions [5]. - The chemical industry is at a cyclical turning point, with downstream operations gradually resuming post-holiday, indicating a positive demand outlook for the year [4][3]. - The report notes that the Producer Price Index (PPI) for industrial products decreased by 1.4% year-on-year in January, while the manufacturing PMI recorded 49.3, indicating some volatility in manufacturing activity [7][4]. Investment Analysis - The report suggests a diversified investment strategy focusing on four key areas: textiles, agricultural chemicals, export chains, and beneficiaries of "anti-involution" policies [4][3]. - Specific companies to watch include those in the textile chain like Lu Xi Chemical and Tongkun Co., and in the agricultural chain like Hualu Hengsheng and Baofeng Energy [4][3]. - The report emphasizes the importance of self-sufficiency in key materials, particularly in semiconductor and panel materials, recommending companies such as Yake Technology and Ruilian New Materials [4][3].

证券日报网讯2月13日，江南化工（002226）在互动平台回答投资者提问时表示，近日，公司下属子公 司四川宇泰特种工程技术有限公司成功中标中国水利水电第六工程局有限公司"四川绵竹抽水蓄能电站 工程爆破作业服务"项目，该项目未达到重大合同的信息披露标准，对公司财务状况、经营成果不构成 重大影响。此次项目中标，进一步巩固了公司在德阳片区的市场领先优势。公司将持续发挥区域融合发 展优势，为"十五五"筑牢筑稳筑强江南化工西南区域"桥头堡"积蓄奋进势能。公司对西藏市场保持高度 关注，正在积极跟进雅鲁藏布江下游水电站工程相关项目情况。为加快在西藏市场战略布局，进一步提 升在藏市场份额和品牌影响力，公司已在西藏地区设立办事处。后续，江南化工将动态建立更新核心区 域重点项目清单，实施"大客户+大项目"开发策略，持续提升工程项目获取能力。 ...

江南化工（002226.SZ）2月13日在投资者互动平台表示，江南化工与北化股份同属中国兵器工业集团实 际控制的企业，但两家公司业务细分领域不同，双方不存在同业竞争关系。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：公司和同属中国兵器集团控股的上市公司北化股份是 否存在同业竞争关系？ ...

Core Viewpoint - Jiangnan Chemical emphasizes the integration of engineering blasting and civil explosive production to drive market expansion and achieve a virtuous cycle of scalable development [2] Group 1: Business Strategy - The company leverages internal and external synergies by prioritizing engineering blasting to enhance civil explosive production [2] - Jiangnan Chemical focuses on large open-pit mining projects, using blasting services to boost sales of civil explosive materials, creating a "dual synergy, dual traction" effect [2] Group 2: Information Disclosure - The company adheres to relevant regulations for disclosing major contracts and voluntarily discloses information on contracts that do not meet legal disclosure standards [2] - Specific details can be found in the company's voluntary disclosure announcements regarding daily operational contracts for the first half of 2025 and the second half of 2025 [2]

Group 1 - The stock price of Jiangnan Chemical (002226) remained stable over the past week, with a price fluctuation of 0.16% and an amplitude of 3.41% [1] - As of February 12, the latest stock price was 6.16 yuan, reflecting a slight decrease of 0.32% compared to the previous day [1] - The total trading volume reached approximately 654 million yuan, indicating a low turnover rate [1] Group 2 - The capital flow indicates a net outflow of main funds, with a net outflow of approximately 5.98 million yuan on that day [1]

Summary of Key Points Core Viewpoint - On February 3rd, a total of 8 companies had their restricted shares unlocked, with a total unlock volume of 1.035 billion shares, amounting to a market value of 19.897 billion yuan based on the latest closing prices [1] Group 1: Unlock Volume and Market Value - The companies with the highest unlock volumes were Yipuli, Changjiang Electric Power, and Taihe New Materials, with unlock shares of 539 million, 461 million, and 3.2139 million respectively [1] - In terms of unlock market value, Changjiang Electric Power, Yipuli, and Taihe New Materials led with market values of 12.05 billion yuan, 7.218 billion yuan, and 0.387 billion yuan respectively [1] Group 2: Unlock Ratio - The companies with the highest unlock ratios relative to their total share capital were Yipuli, Taihe New Materials, and Changjiang Electric Power, with unlock ratios of 43.49%, 3.75%, and 1.88% respectively [1]

Core Viewpoint - Anhui Jiangnan Chemical Co., Ltd. has disclosed a voluntary announcement regarding its daily operational contracts for the period from July to December 2025, with a total contract amount of RMB 1.183 billion [1] Group 1: Contract Details - The total amount of newly signed or executed blasting service engineering contracts is RMB 1.183 billion [1] - Significant contracts include: - Blasting service for the Yangguang Coal Mine in Ruoqiang County, with a service period of 20 months - Manganese ore blasting project with a service period of 4 years - Coalfield fire control project for Kuqa City Xinfa Coal Mine with a service period of 2 years - Design, procurement, and construction EPC general contracting project for the Jiapeng Pumped Storage Power Station in Jixi County with a service period of 3 years [1] Group 2: Financial Implications - The contract amounts are calculated based on the agreed service content and duration, totaling RMB 1.183 billion for the blasting service engineering projects, all of which have signed relevant business cooperation contracts [1]

证券代码：002226 证券简称：江南化工 公告编号:2026-002 安徽江南化工股份有限公司 关于 2025 年 7-12 月份日常经营合同情况的自愿性信息披露公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 安徽江南化工股份有限公司及其所属企业（以下简称"江南化工"、"公 司"或"本公司"）2025年7-12月新签或开始执行的爆破服务工程类日常经 营合同金额合计人民币11.83亿元。 注：1、上述项目中，巴音郭楞蒙古自治州若羌县依吞布拉克镇阳光煤矿爆 破施工项目服务期限为 20 个月；锰矿爆破项目服务期限为 4 年；库车市鑫发煤 矿煤田灭火治理工程项目爆破工程施工合同服务期限为 2 年；安徽绩溪家朋抽水 蓄能电站设计采购施工 EPC 总承包项目爆破作业服务期限为 3 年。 2、上述部分"合同金额"是根据合同约定的服务内容及期限等测算得出的 数据，合计金额 11.83 亿元爆破服务工程类项目均已经签署相关业务合作合同。 3、以上合同数据为阶段性数据，仅供参考，最终确认收入的金额及确认期 1 间将以相关定期报告披露的数据为准，敬请投资者注意投资风险。 特此公告 ...

Group 1 - The company is seizing opportunities in the civil explosives industry during the 14th Five-Year Plan period and is accelerating the restructuring of quality enterprises, positioning itself among the top tier in core competitiveness [1] - By 2025, the company plans to enhance regional integration in the civil explosives industry through investments, including establishing Hubei Jiangnan Chutian Technology Co., Ltd. to gain control of Hubei Dongshen Chutian Chemical Co., Ltd. with an industrial explosive production capacity of 30,500 tons [1] - The company will acquire Sichuan Ebian Guochang Chemical Co., Ltd. with a production capacity of 35,000 tons, and will also acquire 100% equity of Chongqing Shun'an Blasting Equipment Co., Ltd. with a capacity of 73,000 tons, along with the transfer of mining assets from the No. 11 Mine with a capacity of 18,000 tons, aiming to enhance production capacity and core competitiveness through strategic integration [1] Group 2 - The company emphasizes strict compliance with the "Management Measures for Information Disclosure of Listed Companies" and related regulations, urging investors to pay attention to future periodic reports and announcements regarding annual performance and production capacity data [1]

Core Viewpoint - Jiangnan Chemical (002226) is focusing on strategic expansion in the Tibet market to enhance market share and brand influence, while also actively engaging in overseas projects [1] Group 1: Domestic Strategy - Jiangnan Chemical is closely monitoring national investment projects in Tibet [1] - Several subsidiaries have established branches in Tibet, including a Linzhi office, to strengthen local presence [1] - The company is leveraging its scale advantages to increase resource investment in key civil explosive market areas [1] Group 2: International Business - In April 2025, Northern Explosive Namibia successfully won a bid for the upgrade and operation project of the Lakeshan Ground Station, with a contract value of approximately 800 million yuan [1] - The contract duration is from May 1, 2025, to December 31, 2029 [1] - The company will fulfill its information disclosure obligations for significant contracts that meet disclosure standards [1]