登录新浪财经APP 搜索【信披】查看更多考评等级 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。 一、基本情况 泰和新材集团股份有限公司（以下简称"公司"）分别于2024年4月26日及2024年5月21日召开了第十一届 董事会第八次会议和2023年度股东大会，会议审议通过了《关于核定公司及子公司2024年度担保额度的 议案》，同意公司为控股子公司宁夏宁东泰和新材有限公司（以下简称"宁东泰和新材"）提供不超过10 亿元的累计最高担保限额，为所有控股子公司的累计最高担保额度不超过人民币38.21亿元。自股东大 会通过本议案起12个月内，公司对控股子公司担保的累计有效余额总额（即任一时点的担保余额）不得 超过上述最高担保限额总额。持有上述公司股权的其他控股子公司，可以根据各自的持股比例为上述公 司提供担保，并履行各自的内部决策程序。 具体内容详见公司于2024年4月29日刊登于《中国证券报》《上海证券报》《证券日报》《证券时报》 及巨潮资讯网（http://www.cninfo.com.cn）的《关于核定公司及子公司2024年度担保额度的公告》（公 告编号：2024 ...

临时公告：2025-030 证券代码：002254 股票简称：泰和新材 公告编号：2025-030 泰和新材集团股份有限公司 关于为控股子公司宁东泰和新材担保的进展公告 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。 一、基本情况 临时公告：2025-030 就控股子公司宁东泰和新材向上述银行的借款事项签署了《保证合同》。 泰和新材集团股份有限公司（以下简称"公司"）分别于 2024 年 4 月 26 日及 2024 年 5 月 21 日召开了第十一届董事会第八次会议和 2023 年度股东大会， 会议审议通过了《关于核定公司及子公司 2024 年度担保额度的议案》，同意公 司为控股子公司宁夏宁东泰和新材有限公司（以下简称"宁东泰和新材"）提供 不超过 10 亿元的累计最高担保限额，为所有控股子公司的累计最高担保额度不 超过人民币 38.21 亿元。自股东大会通过本议案起 12 个月内，公司对控股子公 司担保的累计有效余额总额（即任一时点的担保余额）不得超过上述最高担保限 额总额。持有上述公司股权的其他控股子公司，可以根据各自的持股比例为上述 公司提供担保，并履 ...

Investment Rating - The report maintains a "Positive" outlook on the chemical industry, highlighting the recovery at the bottom of the cycle and the focus on undervalued high-growth stocks [1]. Core Insights - The macroeconomic assessment of the chemical industry indicates a stabilization in oil prices due to geopolitical factors and OPEC+ production increases, while coal prices are expected to decline in the medium to long term. Natural gas prices are fluctuating at the bottom [3][4]. - The report forecasts a gradual recovery in profitability for the chemical sector in Q1 2025, driven by terminal inventory replenishment and improved demand, despite ongoing construction projects peaking and declining [3]. - The overall revenue for the chemical sector in 2024 is projected to reach 2.0601 trillion yuan, a 3% year-on-year increase, while net profit is expected to decline by 3% to 109.8 billion yuan, aligning with market expectations [3]. Summary by Sections Industry Dynamics - Current oil prices are influenced by the easing of the Russia-Ukraine conflict and U.S. tariff policies, with Brent crude averaging $80.93 per barrel in 2024, down 2% year-on-year. NYMEX natural gas futures are expected to average $2.41 per million British thermal units, down 10% year-on-year [3][4]. - The chemical industry is experiencing a "V"-shaped recovery in market conditions, with Q1 2025 revenue reaching 496.9 billion yuan, a 6% increase year-on-year, and net profit rising by 9% year-on-year to 32.8 billion yuan [3]. Investment Analysis - The report suggests focusing on traditional cyclical stocks with strong fundamentals, such as Wanhua Chemical and Hualu Chemical, as well as growth stocks in semiconductor materials and OLED technologies [3]. - The tire industry is expected to benefit from domestic demand recovery and cost reductions, with companies like Sailun Tire and Linglong Tire highlighted for potential investment [3]. - The report emphasizes the importance of identifying undervalued stocks with growth potential in the chemical sector, particularly in segments like agricultural chemicals and specialty chemicals [3]. Price and Inventory Changes - The report notes that the chemical industry is experiencing a gradual recovery in price differentials, with PPI data showing a slow recovery from negative values towards zero [3][4]. - The report highlights the importance of monitoring inventory levels and price movements in key chemical products, as these factors will influence future profitability and investment opportunities [3][4].

Investment Rating - The report maintains an "Outperform" rating for the company [2] Core Views - The company reported a Q1 2025 revenue of 1.058 billion yuan, a year-on-year increase of 9.5%, while the net profit attributable to the parent company was 12 million yuan, a year-on-year decrease of 54% [7] - The decline in net profit is primarily due to the drop in aramid prices and the continued pressure on spandex profitability [7] - The company is adjusting its product structure and enhancing its upstream supply chain to cope with intense competition in the aramid market [7] - The subsidiary, Minshida, experienced a 27% year-on-year revenue increase, indicating growth opportunities in the aramid paper sector [7] - The spandex market remains under pressure, but demand is expected to grow as production capacity stabilizes [7] Financial Data and Profit Forecast - Total revenue is projected to reach 4.778 billion yuan in 2025, with a year-on-year growth rate of 21.6% [6] - The net profit attributable to the parent company is forecasted to be 212 million yuan in 2025, reflecting a significant recovery from the previous year [6] - The company aims to maintain a gross margin of around 17% in 2025, with an expected increase in return on equity (ROE) to 2.9% [6][9]

Group 1: Company Overview and Activities - The company is 泰和新材集团股份有限公司, with the stock code 002254 [1] - The investor relations activity was an earnings briefing held on April 28, 2025, via an online platform [2] - Key attendees included the President, Secretary of the Board, Financial Officer, Independent Director, and Sponsor Representative [2] Group 2: Product Development and Innovations - The company has made progress in the development of aramid-coated separators, with several clients validating the product [2] - The aramid-coated separators are designed to meet the national safety standards for electric vehicle batteries (GB38031-2025), offering higher safety and better performance compared to traditional separators [3] - The company is the first domestic producer of various aramid products, which have been widely applied in critical fields such as safety protection and aerospace [4] Group 3: Market Position and Strategy - The company aims to enhance its competitiveness by focusing on R&D innovation, operational efficiency, and digital upgrades [2] - The green dyeing technology has been industrialized, with progress noted in the Foshan digital printing factory, while the application in the Penglai dyeing factory is still being explored [5] - The company is considering the production of protective clothing for medical staff, although large-scale promotion is pending further validation [4]

Investment Rating - The report maintains a "Buy" rating for specific companies in the chemical industry, particularly in the compound fertilizer and pesticide sectors, while recommending "Hold" for others [17]. Core Insights - The chemical industry is experiencing an optimization in supply and demand dynamics, leading to a recovery in the compound fertilizer, metal chromium, and niche pesticide markets. The report highlights investment opportunities in undervalued high-growth companies [3][4]. - The report emphasizes the positive performance of listed companies in Q1 2025, particularly in the compound fertilizer sector, and suggests focusing on companies like Xin Yang Feng, Stanley, and Yun Tu Holdings for investment opportunities [3][4]. - The report notes that metal chromium prices have surged to 75,000 CNY/ton, a week-on-week increase of 7,500 CNY/ton, driven by rising demand from the stainless steel sector and new military spending in Europe [3][4]. - The agricultural chemical market is entering its traditional peak season, with stable trading volumes for seasonal crop pesticides. Specific products like Acetochlor and Avermectin are seeing price increases, with recommendations for companies like Xian Da and Li Min [3][4]. Summary by Sections Industry Dynamics - Current macroeconomic conditions in the chemical sector indicate a stabilization in oil prices due to geopolitical factors and OPEC+ production increases, while coal prices are expected to decline in the medium term [4][6]. - The chemical industry PPI data shows a gradual recovery from negative values, with March 2025 PPI at -2.8% year-on-year, indicating a potential bottoming out of the cycle [6][8]. Fertilizer and Pesticide Sector - The report highlights that the domestic urea price is currently at 1,800 CNY/ton, with a slight week-on-week decline of 0.6%. The compound fertilizer sector is experiencing a decrease in operating rates, leading to increased inventory levels [10]. - The pesticide market is witnessing a seasonal peak, with stable trading volumes and price adjustments in various pesticide products, including a price increase for Pyrazole [10][19]. Chemical Products Pricing and Inventory Changes - The report provides detailed pricing data for various chemical products, indicating fluctuations in prices for PTA, MEG, and PVC, with specific attention to the impact of raw material costs and market demand [10][11][12]. - The report notes that the market for fluorinated chemicals is facing supply constraints due to mining restrictions, while the demand remains weak, leading to price adjustments [12][19]. Company Recommendations - The report recommends several companies for investment based on their growth potential and market positioning, including Yangnong Chemical, Runfeng Co., and Yun Tianhua in the fertilizer and pesticide sectors [17][18]. - Companies in the tire and fluorochemical sectors are also highlighted for their potential benefits from recovering domestic demand and cost reductions [3][17].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002254 证券简称：泰和新材 公告编号：2025-029 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。重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、 误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息 的真实、准确、完整。 3.第一季度报告是否经审计 其他符合非经常性损益定义的损益项目的具体情况 □适用 R不适用 10、支付的各项税费较上年同期上升104.06%，主要是缴纳增值税、企业所得税增加。 11、支付其他与经营活动有关的现金较上年同期上升83.93%，主要是缴纳保证金、支付备用金增加。 将《公开发行证券的公司信息披露解释性公告第1号——非经常性损益》中列举的非经常性损益项目界 定为经常性损益项目的情况说明 □适用 R不适用 （三） 主要会计数据和财务指标发生变动的情况及原因 R适用 □不适用 □是 R否 一、主要财务数据 （一） 主 ...

泰和新材（002254）公告，2025年第一季度营收为10.58亿元，同比增长9.45%；净利润为1155.25万 元，同比下降54.12%。 ...

Financial Performance - The company's revenue for Q1 2025 was CNY 1,057,647,713.55, representing a 9.45% increase compared to CNY 966,351,369.64 in the same period last year[4] - Net profit attributable to shareholders decreased by 54.12% to CNY 11,552,537.58 from CNY 25,178,989.47 year-on-year[4] - The net profit after deducting non-recurring gains and losses fell by 58.95% to CNY 2,814,041.59 compared to CNY 6,854,568.33 in the previous year[4] - Total operating revenue for the current period reached ¥1,057,647,713.55, an increase of 9.43% compared to ¥966,351,369.64 in the previous period[20] - Net profit for the current period was ¥8,950,517.82, a decrease of 28.8% from ¥12,416,560.02 in the previous period[22] - The company reported a basic earnings per share of ¥0.01, down from ¥0.03 in the previous period[22] Assets and Liabilities - The company's total assets increased by 3.97% to CNY 15,512,687,854.72 from CNY 14,919,841,195.88 at the end of the previous year[4] - The total assets of the company reached CNY 15,512,687,854.72, an increase from CNY 14,919,841,195.88 at the beginning of the period, reflecting a growth of approximately 3.96%[17] - Current assets totaled CNY 6,117,673,941.78, up from CNY 5,520,345,562.71, indicating an increase of about 10.83%[18] - The company's total liabilities increased to ¥7,599,662,062.85 from ¥7,011,033,805.64, marking a growth of 8.4%[21] - The total liabilities and equity reached ¥15,512,687,854.72, compared to ¥14,919,841,195.88, indicating an increase of 3.96%[21] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 251,940,990.62, worsening by 6.17% compared to the outflow of CNY 237,309,196.22 in the same period last year[4] - Cash flow from operating activities showed a net outflow of ¥251,940,990.62, worsening from a net outflow of ¥237,309,196.22 in the previous period[23] - Net cash flow from investing activities was -$61.65 million, a decrease from -$721.81 million year-over-year[24] - Total cash inflow from financing activities amounted to $1.25 billion, compared to $1.07 billion in the previous period[24] - Cash outflow for debt repayment was $880.34 million, significantly higher than $234.22 million in the prior year[24] - The net increase in cash and cash equivalents was $49.84 million, contrasting with a decrease of $211.20 million last year[24] - The ending balance of cash and cash equivalents reached $1.57 billion, down from $1.88 billion year-over-year[24] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 41,584[14] - The largest shareholder, Yantai Guofeng Investment Holding Group Co., Ltd., holds 18.44% of the shares, totaling 159,134,515 shares[14] Financial Management - The company reported a significant increase in financial expenses, up 242.70% year-on-year, primarily due to increased bank loan interest expenses[6] - The company received tax refunds that increased by 431.32% year-on-year, mainly due to VAT refunds[6] - The company is focusing on enhancing its financial position through better management of current assets and liabilities[17] - Future strategies may include further investment in technology and market expansion, although specific plans were not detailed in the provided content[18] Operational Metrics - Total operating costs amounted to ¥1,041,064,643.50, up from ¥956,023,731.07, reflecting a rise of 8.9%[21] - Research and development expenses were reported at ¥57,910,972.33, slightly up from ¥57,859,542.31[21] - The company reported a significant increase in trade receivables, which may indicate improved sales performance or changes in credit policy[18] - Accounts receivable rose significantly to CNY 673,236,765.62 from CNY 394,683,370.25, marking an increase of approximately 70.6%[18] - Inventory decreased to CNY 1,430,299,516.56 from CNY 1,446,481,837.28, a decline of about 1.12%[18] - Short-term borrowings increased to CNY 1,777,223,149.10 from CNY 1,710,563,525.48, reflecting a rise of approximately 3.88%[18]

基础化工 2025 年 04 月 21 日 泰和新材 (002254) ——24 年量增利减，氨纶和芳纶价格下跌，重视芳纶纸 产业机遇 报告原因：有业绩公布需要点评 增持（维持） | 投资要点： | | --- | 上 市 公 司 财务数据及盈利预测 | | 2023 | 2024 | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 3,925 | 3,929 | 4,778 | 5,694 | 6,460 | | 同比增长率（%） | 4.7 | 0.1 | 21.6 | 19.2 | 13.5 | | 归母净利润（百万元） | 333 | 90 | 212 | 303 | 386 | | 同比增长率（%） | -23.6 | -73.1 | 136.4 | 43.4 | 27.2 | | 每股收益（元/股） | 0.39 | 0.10 | 0.25 | 0.35 | 0.45 | | 毛利率（%） | 24.2 | 16.0 | 17.0 | 18.3 | 20.3 | | ROE（%） | 4.6 ...