Group 1: Economic Indicators - In the first quarter, the total profit of industrial enterprises above designated size reached 150.936 billion yuan, a year-on-year increase of 0.8% [4] - The Ministry of Commerce and six other departments announced an optimization of the departure tax refund policy, raising the cash refund limit to 20,000 yuan [4][6] Group 2: Company Earnings - Gujing Gongjiu reported a net profit of 5.517 billion yuan for 2024, a year-on-year increase of 20.22%, and proposed a dividend of 50 yuan per 10 shares [8] - Gree Electric reported a net profit of 32.185 billion yuan for 2024, a year-on-year increase of 10.91%, and proposed a dividend of 20 yuan per 10 shares [8] - Luzhou Laojiao reported a net profit of 13.473 billion yuan for 2024, a year-on-year increase of 1.71%, and proposed a dividend of 45.92 yuan per 10 shares [8] - Yake Technology reported a net profit of 872 million yuan for 2024, a year-on-year increase of 50.41%, and proposed a dividend of 2.6 yuan per 10 shares [8] - Yunda Holdings reported a net profit of 1.914 billion yuan for 2024, a year-on-year increase of 17.77%, and proposed a dividend of 2 yuan per 10 shares [8] Group 3: Significant Corporate Announcements - National City Mining reported a net profit of 612 million yuan for the first quarter of 2025, a year-on-year increase of 18,279.65%, primarily due to increased investment income from the sale of subsidiaries [9] - Zhenghe Ecology signed a strategic cooperation agreement with Yanshan (Hebei) Cultural Tourism Development Group, planning a total investment of 2 billion yuan for a tourism integration project [9] - New Life Fortune announced plans to issue shares and pay cash to acquire 100% of Guangzhou Jinnan Magnetic Materials, which is expected to constitute a major asset restructuring [9] - Chengdi Xiangjiang announced that its subsidiary won a bid for a project with a contract value of 1.632 billion yuan, with a construction period of 92 days [10]

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].

Group 1 - Haiyuan Composite will implement delisting risk warning from April 29, 2025, with stock name changed to "*ST Haiyuan" and daily price fluctuation limit set at 5% [3] - Xinlaifu plans to acquire 100% of Jin Nan Magnetic Materials, with the transaction expected to constitute a major asset restructuring, and stock will resume trading on April 28, 2025 [4] - Hongbaoli's subsidiary successfully completed trial production of polyether technology transformation project, producing qualified products [5] - Xingguang Co. received a warning letter from Guangdong Securities Regulatory Bureau due to significant discrepancies in 2024 performance forecast and actual results [6] - Meirui New Materials' subsidiary successfully completed the production process for its polyurethane industrial park phase one project [7] Group 2 - Taigang Stainless Steel reported Q1 2025 net profit of 188 million yuan, a year-on-year increase of 5506.92%, with revenue of 23.31 billion yuan, down 4.71% [9] - Shen Shen Fang A reported Q1 2025 net profit of 72.42 million yuan, a year-on-year increase of 3718.51%, with revenue of 330 million yuan, up 457.38% [10] - Qingda Environmental reported Q1 2025 net profit of 68.71 million yuan, a year-on-year increase of 990.26%, with revenue of 619 million yuan, up 317.43% [11] - Jincai Hulin reported Q1 2025 net profit of 13.65 million yuan, a year-on-year increase of 466.95%, with revenue of 206 million yuan, down 33% [13] - New Sai Co. reported Q1 2025 net profit of 18.19 million yuan, a year-on-year increase of 315.74%, with revenue of 1.215 billion yuan, up 312.03% [14] - Kexing Pharmaceutical reported Q1 2025 net profit of 25.58 million yuan, a year-on-year increase of 106.21%, with revenue of 354 million yuan, down 1.97% [15] - Jiechang Drive reported Q1 2025 net profit of 113 million yuan, a year-on-year increase of 62.21%, with revenue of 961 million yuan, up 35.59% [16] - Taihe Co. reported Q1 2025 net profit of 78.53 million yuan, a year-on-year increase of 50.94%, with revenue of 1.033 billion yuan, up 18.5% [17] - Xiyu Co. reported Q1 2025 net profit of 499 million yuan, a year-on-year increase of 53.08%, with revenue of 9.729 billion yuan, up 15.82% [18] - Hualing Cable reported Q1 2025 net profit of 32.16 million yuan, a year-on-year increase of 55.54%, with revenue of 1.005 billion yuan, up 11.38% [19] - Dong'a Ejiao reported Q1 2025 net profit of 425 million yuan, a year-on-year increase of 20.25%, with revenue of 1.719 billion yuan, up 18.24% [20] - China Rare Earth reported Q1 2025 net profit of 72.62 million yuan, turning from loss to profit, with revenue of 728 million yuan, up 141.32% [21] - Gree Electric reported 2024 net profit of 32.185 billion yuan, a year-on-year increase of 10.91%, with revenue of 189.164 billion yuan, down 7.26% [22] - Luzhou Laojiao reported 2024 net profit of 13.473 billion yuan, a year-on-year increase of 1.71%, with revenue of 31.196 billion yuan, up 3.19% [24] - Yake Technology reported 2024 net profit of 872 million yuan, a year-on-year increase of 50.41%, with revenue of 6.862 billion yuan, up 44.84% [25] - Gujing Gongjiu reported 2024 net profit of 5.517 billion yuan, a year-on-year increase of 20.22%, with revenue of 23.578 billion yuan, up 16.41% [26] - Lanzhou Bank reported 2024 net profit of 1.888 billion yuan, a year-on-year increase of 1.29%, with revenue of 7.854 billion yuan, down 2.02% [27] - China Power Construction reported 2024 net profit of 12.015 billion yuan, a year-on-year decrease of 7.21%, with revenue of 633.685 billion yuan, up 4.07% [28] - China Communications Construction reported Q1 2025 net profit of 5.467 billion yuan, a year-on-year decrease of 10.98%, with revenue of 154.644 billion yuan, down 12.58% [29] Group 3 - Koweil plans to reduce its shareholding by up to 3.21% [31] - Nanya New Materials plans to reduce its repurchased shares by up to 238,480 shares, accounting for 1% of total shares [32] - Xiangsheng Medical's shareholders plan to reduce their holdings by up to 1.72% [33] Group 4 - Zhenhua Heavy Industry plans to repurchase shares worth 50 million to 100 million yuan [35] - Deep Keda plans to acquire 16.92% of the equity of its subsidiary Xianma Technology for 47.376 million yuan [37] - Jinchengxin signed a mining production contract with Western Mining, with an estimated contract value of approximately 377 million yuan [38]

证券代码：002409 证券简称：雅克科技 公告编号：2025-008 江苏雅克科技股份有限公司 特别提示：本公司及董事会全体成员保证公告内容的真实、准确和完整，没 有虚假记载、误导性陈述或者重大遗漏。 江苏雅克科技股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日召开了 第六届董事会第十三次会议及第六届监事会第十次会议，审议了《关于购买董监 高责任险的议案》，全体董事、监事均回避表决。 为保障广大投资者利益，完善公司风险管理体系，同时促进公司董事会、监 事及管理层充分行使权利、履行职责，根据《上市公司治理准则》的有关规定， 公司拟为公司及全体董事、监事及高级管理人员购买责任保险。现将相关情况公 告如下： 一、董监高责任险具体方案 1、投保人：江苏雅克科技股份有限公司； 2、被保险人：公司及公司全体董事、监事、高级管理人员以及相关责任人员； 3、赔偿限额：不超过 5,000.00 万元人民币/年（最终以签订的保险合同为准）； 4、保费支出：不超过人民币 30.00 万元/年（具体以保险公司最终报价数据 为准）； 关于购买董监高责任险的公告 5、保险期限：12 个月 （后续每年可续保或重新投保） ...

江苏雅克科技股份有限公司 非经营性资金占用及其他关联资金往来情况 汇总表的专项审说明 中兴华会计师事务所(特殊普通合伙) ZHONGXINGHUA CERTIFIED PUBLIC ACCOUNTANTS LLP 地址：北京市丰台区丽泽路 20 号丽泽 SOHO Ｂ座 20 层 邮编：100073 电话：(010) 51423818 传真：(010) 51423816 目 录 一、专项说明 二、附表 中 兴 华 会 计 师 事 务 所 （ 特 殊 普 通 合 伙 ） Z H O N G X I N G H U A C E R T I F I E D P U B L I C A C C O U N T A N T S L L P 地址（ location ）： 北 京 市 丰 台 区 丽 泽 路 2 0 号 丽 泽 S O H O B 座 2 0 层 20/F,Tower B,Lize SOHO,20 Lize Road,Fengtai District,Beijing PR China 电话（ tel ）： 010 - 5 1 4 2 3 8 1 8 传真（ fax ）： 010 - 5 1 4 2 3 8 ...

江苏雅克科技股份有限公司 2024 年度监事会工作报告 一、监事会会议情况 报告期内，公司监事会共召开了五次会议，会议情况如下： （一）2024 年 3 月 26 日，公司第六届监事会第五次会议在公司会议室召开， 全体监事一致审议通过了： 1、《关于对外提供担保的议案》。 会议决议公告刊登于 2024 年 3 月 27 日的《证券时报》和巨潮资讯网 （www.cninfo.com.cn）。 （二）、2024 年 4 月 19 日，公司第六届监事会第六次会议在公司会议室召 开，全体监事一致审议通过了： 1、《关于为参股公司提供担保暨关联交易的议案》。 会议决议公告刊登于 2024 年 4 月 22 日的《证券时报》和巨潮资讯网 （www.cninfo.com.cn）。 （三）2024 年 4 月 24 日，公司第六届监事会第七次会议在公司会议室召开， 全体监事一致审议通过了： 2024 年度，公司监事会按照《公司法》和公司章程的规定，本着对全体股 东负责的精神，认真履行监督职能。本年度共召开监事会会议五次，无监事缺席； 同时，监事会成员全体列席或出席了报告期内的历次董事会会议和股东大会，对 公司的重大经济活动、 ...

证券代码：002409 证券简称：雅克科技 公告编号：2025-005 江苏雅克科技股份有限公司 关于开展外汇远期结售汇业务的公告 特别提示：本公司及董事会全体成员保证公告内容真实、准确和完整，不存在 虚假记载、误导性陈述或者重大遗漏。 江苏雅克科技股份有限公司（以下简称"公司"或"本公司"）于 2025 年 4 月 24 日召开的第六届董事会第十三次会议，会议审议通过了《关于开展外汇远期结售 汇业务的议案》。现将相关情况公告如下： 一、开展远期结售汇业务的目的 因业务发展需要，经公司第六届董事会第八次会议授权，公司自 2024 年 4 月起 开展了外汇远期结售汇业务。为减少部分汇兑损益，降低汇率波动对公司业绩的影 响，公司 2025 年拟继续与银行开展远期结售汇业务。远期结售汇是经中国人民银行 批准的外汇避险金融产品。其交易原理是，与银行签订远期结售汇合约，约定将来 办理结汇或售汇的外汇币种、金额、汇率和期限，在到期日外汇收入或支出发生时， 再按照该远期结售汇合同约定的币种、金额、汇率办理的结汇或售汇业务，从而锁 定当期结售汇成本。 二、结售汇业务的品种 公司的远期结售汇限于公司进出口业务所使用的主要结算货 ...

江苏雅克科技股份有限公司章程 （2025 年 4 月 24 日） 修订对照表 | 原条款 | 修订后条款 | | --- | --- | | 第十三条 | 第十三条 | | 经依法登记，公司的经营范围：许可项 | 经依法登记，公司的经营范围：许可项目： | | 目：危险化学品生产（依法须经批准的项目， | 危险化学品生产（依法须经批准的项目，经相 | | 经相关部门批准后方可开展经营活动，具体 | 关部门批准后方可开展经营活动，具体经营项 | | 经营项目以审批结果为准）一般项目：新材 | 目以审批结果为准）一般项目：新材料技术研 | | 料技术研发；专用化学产品制造（不含危险 | 发；专用化学产品制造（不含危险化学品）； | | 化学品）；专用化学产品销售（不含危险化学 | 专用化学产品销售（不含危险化学品）；纸和 | | 品）；纸和纸板容器制造；塑料包装箱及容器 | 纸板容器制造；塑料包装箱及容器制造；玻璃 | | 制造；玻璃纤维增强塑料制品制造；玻璃纤 | 纤维增强塑料制品制造；玻璃纤维增强塑料制 | | 维增强塑料制品销售；塑料制品制造；塑料 | 品销售；塑料制品制造；塑料制品销售；工程 | | 制品 ...

江苏雅克科技股份有限公司 2025 年第一次独立董事专门会议决议 根据《上市公司独立董事管理办法》、《深圳证券交易所股票上市规则》、《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》等相关法律 法规、规范性文件及《公司章程》的有关规定，江苏雅克科技股份有限公司（以下 简称"公司"）于 2025 年 4 月 23 日以通讯方式召开 2025 年第一次独立董事专门 会议。会议应出席独立董事 4 名，实际出席独立董事 4 名。经全体独立董事推举， 本次会议由独立董事陈良华先生主持。经与会独立董事认真审议，通过如下决议： 一、以 4 票同意，0 票反对，0 票弃权，审议通过《关于 2025 年度日常关联交 易预计的议案》。 经审核，我们认为公司与关联方 2025 年预计拟发生的日常关联交易具有真实 性及商业实质，为公司日常经营活动所需，交易对手方诚信、资信状况良好，具有 履约能力，关联交易依据公平、合理的定价政策，遵循市场定价原则，经双方协商 确定，对公司财务状况、经营成果不构成重大影响，不存在损害公司及全体股东利 益特别是中小股东利益的情形。同意《关于 2025 年度日常关联交易预计的议案》， ...

江苏雅克科技股份有限公司 2024 年年度报告商誉减值 一、是否进行减值测试 | 资产组名称 | 是否存在减值迹象 | 备注 | 是否计提减值 | 备注 | 减值依据 | 备注 | | --- | --- | --- | --- | --- | --- | --- | | 华飞电子 | 不存在减值迹象 | | 否 | | 专项评估报告 | | | 科美特 | 不存在减值迹象 | | 否 | | 专项评估报告 | | | 江苏先科&雅克电子 | 不存在减值迹象 | | 否 | | 专项评估报告 | | | Emtier CPR 事业部 | 不存在减值迹象 | | 否 | | 专项评估报告 | | | 科美（广州） | 不存在减值迹象 | | 否 | | 专项评估报告 | | | OCPS 资产组 | 不存在减值迹象 | | 否 | | 专项评估报告 | | | 雅克香港 | 不存在减值迹象 | | 否 | | 专项评估报告 | | 四、商誉分摊情况 单位：元 | 资产组名称 | 资产组或资产组组合的 | 资产组或资产组组 | 资产组或资产组 | 商誉分摊方法 | 分摊商誉原值 | | --- | --- | - ...