Core Viewpoint - Lianhua Technology (002250.SZ) forecasts a significant increase in net profit for the fiscal year 2025, indicating strong growth potential and improved profitability due to enhanced capacity utilization [1] Financial Performance - The company expects net profit attributable to shareholders to be between 350 million to 420 million yuan, representing a year-on-year growth of 239.35% to 307.22% [1] - The net profit after deducting non-recurring gains and losses is projected to be between 330 million to 410 million yuan, reflecting a year-on-year increase of 171.87% to 237.78% [1] Operational Efficiency - The overall capacity utilization of the company is expected to improve in 2025, which will enhance the company's profitability [1]

Core Viewpoint - The company, Lianhua Technology (002250.SZ), forecasts a significant increase in net profit for the year 2025, projecting a range of 350 million to 420 million yuan, representing a year-on-year growth of 239.35% to 307.22% [1] Group 1 - The overall capacity utilization of the company has improved during the reporting period [1] - International exchange rate fluctuations have resulted in foreign exchange gains, contributing to enhanced profitability [1]

格隆汇1月23日丨联化科技(002250.SZ)公布，预计2025年归属于上市公司股东的净利润35,000.00万元– 42,000.00万元，比上年同期增长239.35%–307.22%，扣除非经常性损益后的净利润33,000.00万元– 41,000.00万元，比上年同期增长171.87%–237.78%。 1、2025 年度公司整体产能利用率提升，从而增强了公司的盈利能力。2、2025 年度国际汇率波动较 大，公司存在境外子公司，产生了汇兑收益。四、风险提示1、本次业绩预告系公司财务部门初步估算 的结果，公司2025年年度具体财务数据以公司公布的2025年年度报告为准。2、公司将严格依照有关法 律法规的规定和要求，及时做好信息披露工作，敬请广大投资者注意投资风险。 登录新浪财经APP 搜索【信披】查看更多考评等级 ...

Core Viewpoint - Lianhua Technology (002250) expects a significant increase in net profit for 2025, projecting a growth of 239.35% to 307.22% year-on-year, with estimated net profit ranging from 350 million to 420 million yuan [1] Group 1: Financial Performance - The company anticipates a net profit of 350 million to 420 million yuan for 2025, indicating a substantial year-on-year growth [1] - The expected growth is attributed to an increase in overall capacity utilization, which enhances the company's profitability [1] Group 2: External Factors - The company has foreign subsidiaries, which have resulted in exchange gains due to significant fluctuations in international exchange rates [1]

证券代码：002250 证券简称：联化科技 公告编号：2026-001 联化科技股份有限公司 2025 年度业绩预告 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。 本业绩预告未经过注册会计师预审计。公司已就本次业绩预告有关事项与会 计师事务所进行预沟通，公司与会计师事务所在本次业绩预告方面不存在重大分 歧。 三、业绩变动原因说明 1、2025 年度公司整体产能利用率提升，从而增强了公司的盈利能力。 2、2025 年度国际汇率波动较大，公司存在境外子公司，产生了汇兑收益。 四、风险提示 一、本期业绩预计情况 1、业绩预告期间：2025 年 1 月 1 日至 2025 年 12 月 31 日 2、业绩预告情况：ð 扭亏为盈 √同向上升 ð 同向下降 | 项 目 | 本报告期 | | 上年同期 | | | --- | --- | --- | --- | --- | | 归属于上市公司 股东的净利润 | 盈利：35,000.00 | 万元–42,000.00 万元 | 盈利：10,313.90 | 万元 | | | | 比上年同期增长：239.35%–307.22% ...

Core Viewpoint - The article emphasizes the ongoing integration of artificial intelligence (AI) in various industries, particularly in manufacturing and pharmaceuticals, driven by government policies and technological advancements [4][5][6]. Group 1: AI Integration in Manufacturing - The Chinese government has issued policies to promote the integration of AI in manufacturing, focusing on quality improvement and efficiency through technologies like large models and digital twins [4]. - Key players in the chemical industry, such as China National Petroleum, China Petroleum & Chemical, and China National Offshore Oil Corporation, are developing industry-specific AI models to enhance core business operations [5]. - Companies like Wanhua Chemical are leveraging third-party AI platforms to achieve cost reduction and efficiency in production management and material research [5]. Group 2: Growth of Small Nucleic Acid Drugs - The global market for small nucleic acid drugs has seen significant growth, with a compound annual growth rate (CAGR) of 217.8%, increasing from $0.1 billion in 2016 to $3.25 billion in 2021 [6]. - Projections indicate that the market for oligonucleotide drugs will exceed $15 billion by 2026, with a CAGR of 35% from 2020 to 2025 [6]. - The industry is expected to transition from technological breakthroughs to large-scale commercialization, indicating a promising future for the small nucleic acid drug sector [6]. Group 3: Key Players in Small Nucleic Acid Development - Bluestar Technology has established a comprehensive technology platform for small nucleic acids and peptide drugs, being one of only two global suppliers capable of providing integrated solutions for complex oligonucleotide synthesis [7]. - Lonza Technology is expanding its CDMO services globally, achieving significant progress in partnerships with leading pharmaceutical companies and enhancing its domestic collaborations [7].

Investment Rating - The industry investment rating is "Positive" (maintained) [2] Core Viewpoints - The report highlights the impact of the recent cancellation and reduction of export tax rebates on pesticides, particularly focusing on the potential for price increases and improved profitability for leading companies in the pesticide sector [5] - The report anticipates a reversal in the pesticide industry's performance due to rising export costs and the upcoming spring farming season, which is expected to boost demand and prices [5] - The ongoing "anti-involution" trend in the pesticide industry is expected to optimize supply and reshape value, encouraging companies to shift from low-end manufacturing to a focus on technology, branding, and service [5] Summary by Relevant Sections Industry Overview - The pesticide industry is experiencing a significant shift due to policy changes, with the cancellation of export tax rebates for various pesticide raw materials and intermediates, including glyphosate and other high-toxicity products [4][5] - China is projected to export 2.05 million tons of pesticides in 2024, with exports accounting for 90% of production [5] Market Dynamics - The domestic pesticide production peak season occurs from February to May, with a significant increase in demand for pesticide formulations during this period [5] - The report notes that the price of 95% glyphosate raw powder has recently increased to 46,000 yuan per ton, indicating a recovery in pricing [11] Key Companies and Recommendations - Recommended stocks include leading pesticide companies such as Yangnong Chemical, Limin Co., and Xingfa Group, which are expected to benefit from the price increases and the integrated "raw material-formulation" model [5] - Beneficiary stocks also include Jiangshan Chemical, Lier Chemical, and others involved in various segments of the pesticide supply chain [5]

Core Viewpoint - The agricultural pesticide sector is experiencing a significant upward trend driven by multiple favorable factors, including policy incentives, the upcoming spring farming season, and a recovery in global market demand [1][2]. Group 1: Policy Changes - The "One Certificate, One Product" policy will be fully implemented on January 1, 2026, aiming to eliminate the long-standing issues of "one pesticide with multiple names" and "certificate borrowing" in the industry [1]. - This policy is expected to compel companies to shift focus from "labeling" to "research and development," fostering competition based on technology, quality, and service, thereby promoting high-quality industry development [1]. Group 2: Export Tax Adjustments - The cancellation of export tax rebates for certain pesticide raw materials starting April 1, 2026, is anticipated to pressure profit margins for related companies in the short term [2]. - However, this adjustment may accelerate the elimination of outdated production capacity and encourage companies to transition to high-end products, enhancing product value [2]. - In 2024, China's pesticide formulation export value reached 61.36 billion, surpassing raw material exports for the first time, with a share of 54.12% [2]. Group 3: Demand Dynamics - The upcoming spring farming season is expected to release strong demand for pesticides, with an estimated 3.8 billion acres of crops affected by pests, leading to direct economic losses exceeding 42 billion [3]. - The industry has maintained an operating rate of over 80% for the past eight months, with inventory levels at their lowest since the beginning of 2024, indicating a favorable supply-demand balance [3]. Group 4: Benefiting Industries - The pesticide intermediate sector is likely to benefit from the rising demand for pesticide raw materials, with companies like Lianhua Technology expected to see performance growth due to stable demand from downstream clients [4]. - The phosphorus chemical industry will also benefit, as the recovery in pesticide demand will increase the consumption of upstream raw materials like phosphate rock and phosphoric acid [4]. - The integration of precision agriculture and the pesticide industry is expected to drive growth in the plant protection service and smart pesticide machinery sectors, with significant increases in the adoption of precision application equipment projected [5].

Group 1 - The lithium hexafluorophosphate sector is experiencing strong performance, with companies such as Tianji Co., Lianhua Technology, Yongtai Technology, and Duofluo leading in stock price increases [1]

Market Overview - The Shanghai Composite Index is at 4108.93 points, below the five-day moving average, with a decline of 0.42% [1] - The total trading volume of A-shares is 1,427.2 billion yuan [1] Stocks Exceeding Five-Day Moving Average - A total of 451 A-shares have surpassed the five-day moving average today [1] - Notable stocks with significant deviation rates include: - Tianming Technology: 14.26% [1] - Keheng Co., Ltd.: 9.26% [1] - Yunwei Co., Ltd.: 7.41% [1] Stock Performance Data - The following stocks have notable performance metrics: - Tianming Technology: Today's increase of 19.80%, turnover rate of 13.23%, five-day moving average of 21.77 yuan, latest price at 24.87 yuan [1] - Keheng Co., Ltd.: Today's increase of 12.51%, turnover rate of 12.50%, five-day moving average of 13.01 yuan, latest price at 14.21 yuan [1] - Yunwei Co., Ltd.: Today's increase of 9.98%, turnover rate of 3.88%, five-day moving average of 4.21 yuan, latest price at 4.52 yuan [1] Additional Stocks with Performance Metrics - Other stocks with notable performance include: - Wenkai Co., Ltd.: Increase of 10.09%, turnover rate of 3.41%, five-day moving average of 4.48 yuan, latest price at 4.80 yuan [1] - Li Qun Co., Ltd.: Increase of 10.10%, turnover rate of 6.91%, five-day moving average of 5.11 yuan, latest price at 5.45 yuan [1] - Su Dawei Co., Ltd.: Increase of 12.35%, turnover rate of 16.46%, five-day moving average of 42.14 yuan, latest price at 44.93 yuan [1]