证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交3.23亿元，其中，买入成交额为1.43亿 元，卖出成交额为1.80亿元，合计净卖出3691.18万元。 具体来看，今日上榜的营业部中，共有5家机构专用席位现身，即买二、买四、卖一、卖二、卖三、卖 五，合计买入金额5513.24万元，卖出金额1.43亿元，合计净卖出8833.82万元。 近半年该股累计上榜龙虎榜8次，上榜次日股价平均涨0.28%，上榜后5日平均涨0.09%。 三维化学今日涨停，全天换手率25.64%，成交额15.33亿元，振幅9.98%。龙虎榜数据显示，机构净卖出 8833.82万元，营业部席位合计净买入5142.64万元。 深交所公开信息显示，当日该股因日涨幅偏离值达10.71%上榜，机构专用席位净卖出8833.82万元。 资金流向方面，今日该股主力资金净流入4383.02万元，其中，特大单净流入4473.05万元，大单资金净 流出90.03万元。近5日主力资金净流入1.98亿元。（数据宝） 三维化学4月24日交易公开信息 | 买/ | 会员营业部名称 | 买入金额（万 | 卖出金额（万 | | --- | --- | --- | -- ...

证券代码：002469 证券简称：三维化学 公告编号：2025-017 山东三维化学集团股份有限公司 股票交易异常波动公告 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。 一、股票交易异常波动的情况介绍 山东三维化学集团股份有限公司（以下简称"公司"）股票（证券简称：三维 化学，证券代码：002469）于2025年4月23日、4月24日连续2个交易日收盘价 格涨幅偏离值累计超过20%，根据《深圳证券交易所交易规则》的规定，属于股 票交易异常波动的情况。 针对股价异常波动，公司董事会就有关事项进行了核查，并函询了公司控股 股东和实际控制人，现将具体情况说明如下： 1、公司前期披露的信息不存在需要更正、补充之处。 2、公司未发现近期公共传媒报道了可能或已经对公司股票交易价格产生较 大影响的未公开重大信息。 3、近期公司生产经营情况正常，内外部经营环境未发生重大变化。 4、公司、控股股东和实际控制人不存在关于公司的应披露而未披露的重大 事项，或处于筹划阶段且未披露的重大事项。 5、公司控股股东、实际控制人在公司股票交易异常波动期间未买卖公司股 票。 三、是否存在应披 ...

Core Viewpoint - The company reported a steady operational performance in Q1 2025, with revenue growth but a decline in net profit, primarily due to fluctuations in chemical product prices and project revenue recognition delays [1][2]. Group 1: Financial Performance - In Q1 2025, the company achieved revenue of 548 million yuan, representing a year-on-year increase of 5.5% but a quarter-on-quarter decrease of 36.4% [1]. - The net profit attributable to shareholders was 52 million yuan, down 10.5% year-on-year and down 55.8% quarter-on-quarter [1]. - The company's gross margin and net margin were 20.6% and 9.2%, respectively, with a year-on-year increase of 0.8 percentage points and a decrease of 1.1 percentage points [3]. Group 2: Business Outlook - The chemical business is expected to benefit from the company's integrated layout in alcohols and esters, with a new production line for 50,000 tons of isooctanoic acid expected to contribute to growth within the year [2]. - The engineering business has a strong order backlog, with new contracts signed in Q1 totaling 474 million yuan, 117 times that of the same period last year [2]. - The company is positioned to capture more orders due to its geographical advantages, particularly with ongoing projects like the Northern Huajin order expected to be completed in 2025 [2]. Group 3: Strategic Initiatives - The company is advancing its cellulose derivatives project, which includes upgrading a 1,000 tons/year butyric acid cellulose facility to 15,000 tons/year capacity, aiming to benefit from domestic substitution opportunities [3]. - The company leads in sulfur recovery technology, having designed and contracted 240 sulfur recovery units with a total capacity of 12.83 million tons/year, making it the largest in this sector in China [4]. - Recent wins in Xinjiang's coal chemical sector are expected to drive rapid growth in performance, with multiple projects secured for sulfur recovery design and technical services [4]. Group 4: Profit Forecast - The company forecasts net profits attributable to shareholders of 416 million yuan, 525 million yuan, and 657 million yuan for 2025-2027, representing year-on-year growth rates of 58.5%, 26.0%, and 25.2%, respectively [4].

证券代码：002469 证券简称：三维化学 公告编号：2025-016 2024年年度权益分派实施公告 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。 山东三维化学集团股份有限公司（以下简称"公司"或"本公司"）2024 年年度 权益分派方案已获 2025 年 4 月 17 日召开的 2024 年度股东大会审议通过，现 将权益分派事宜公告如下： 一、股东大会审议通过的利润分配方案情况 山东三维化学集团股份有限公司 1、公司 2024 年度股东大会审议通过的权益分派方案为：以 2024 年 12 月 31 日的总股本 648,862,630 股为基数，向全体股东每 10 股派发现金红利人民币 3.00 元（含税），共计人民币 194,658,789.00 元，不送红股，不以公积金转增 股本。若在利润分配预案披露后至实施前公司总股本发生变化，将按照"现金分 红总额固定不变"的原则调整分配比例。 2、本次权益分派方案披露至实施期间公司股本总额未发生变化。 3、本次实施的权益分派方案与公司 2024 年度股东大会审议通过的分配方 案一致。 4、本次实施权益分派方案距离 ...

Investment Rating - The report indicates a positive outlook for the real estate sector, emphasizing its role in boosting domestic demand and stabilizing the market [1][12]. Core Insights - The real estate market is transitioning back to its residential function, with significant declines in new home sales and construction activities projected for 2022-2024 [1][12]. - The implementation of new policies on May 17, 2024, aims to support the real estate market, including adjustments to loan rates and down payment requirements [1][12]. - Infrastructure projects are also highlighted as key drivers of domestic demand, particularly in regions like Xinjiang and Guangxi, with significant investments underway [2][13]. - The "Belt and Road" initiative remains a focal point for international expansion, with ongoing collaborations between China and Vietnam to enhance infrastructure connectivity [2][13]. Summary by Sections Weekly Discussion - The report discusses the importance of real estate in stimulating domestic demand, noting a shift towards residential needs and a significant drop in key market indicators [1][12]. - It highlights the recent government meetings aimed at stabilizing the real estate market and the potential impact of new policies on housing loans [1][12]. Cyclical Linkage - Cement prices have shown a year-on-year increase, with the national average price at 395 RMB/t, while glass prices have also seen slight increases [3][14]. - The report notes a stable demand for aluminum and steel, with expectations for continued high supply levels [3][14]. National Subsidy Tracking - Various regions have successfully implemented consumer subsidies, such as Shanghai's 1.8 billion RMB for home appliance upgrades, significantly boosting sales [4][15]. - The report suggests focusing on companies related to subsidized products in the construction materials sector [4][15]. Important Developments - The report mentions the strengthening of the strategic partnership between China and Vietnam, along with significant stock purchases by major shareholders in various companies [5][16]. - It emphasizes the government's commitment to stabilizing the stock market and supporting the real estate sector [5][16]. Market Performance (April 14-18) - The construction materials index experienced a slight decline, with specific segments like refractory materials and pipes performing better than others [17]. Construction Material Price Changes - Cement prices have slightly decreased in certain regions, while glass prices have shown minor increases, indicating a mixed market response [29][39]. - The report provides detailed statistics on the pricing trends and inventory levels for various construction materials [29][39].

Q1 业绩小幅承压，关注后续订单结转速度 25Q1 公司实现营业收入5.48 亿元，同比+5.54%，实现归母净利润0.52 亿元，同比-10.50%，扣非归母 净利润0.51 亿元，同比-8.33%，利润小幅度承压，我们认为一方面由于一季度化工产品价格仍在低位导 致利润贡献收窄；另一方面则和工程业务的收入确认节奏有关，截至25Q1 北方华锦项目已累计确认收 入3.57 亿元，已累计收款5.36 亿元，考虑到项目计划在25 年10 月中交，预计其余部分收入或在Q2 开始 进行集中确认。化工实业方面，在对等关税的冲击下，公司正在建设的高端纤维素项目有望充分受益于 国产替代逻辑。 工程在手订单充裕，关注化工实业价格边际变化1）工程业务方面，公司在手订单充裕，一季度新签 +中标订单合计4.7 亿元，至25Q1 末在手未完工订单16.7 亿元，后续仍有望持续受益于煤化工投资加 速。此外，4 月10 日鲁油鲁炼项目已经进入老旧装置拆除阶段，我们判断订单释放后有望带来显著业绩 增量。2）化工方面，25Q1 丁醇、辛醇市场均价分别为7149、7786 元/吨，较24Q1 同比分 别-17.2%、-35.8%，正丙醇市场均价 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating strong investment attractiveness with a projected dividend yield of 6% for 2025 based on an average payout ratio of 84% for 2023-2024 [4][6]. Core Insights - The company's Q1 2025 performance showed a slight revenue decline but is expected to accelerate significantly starting Q2 2025, driven by the completion of major projects and increased contract liabilities [1][3]. - The gross margin improved to 20.6% in Q1 2025, up by 0.78 percentage points year-on-year, while operating cash flow remained robust with a net inflow of 1.3 billion yuan [2]. - New contracts signed in Q1 2025 reached 300 million yuan, a staggering increase of 7592% year-on-year, indicating strong future revenue potential [3]. Financial Performance Summary - Q1 2025 revenue was 550 million yuan, a 5.5% increase year-on-year, while net profit attributable to shareholders was 52 million yuan, down 10.5% year-on-year [1]. - The company expects net profits for 2025-2027 to grow by 44%, 35%, and 36% respectively, with earnings per share (EPS) projected at 0.58, 0.79, and 1.07 yuan [4]. - The total contract backlog as of Q1 2025 was 1.67 billion yuan, three times the expected revenue for 2024, indicating strong future revenue recognition [3].

Investment Rating - The report maintains a "Buy" rating for the company, indicating strong investment attractiveness with a projected dividend yield of 6% for 2025 based on an average payout ratio of 84% for 2023-2024 [4][6]. Core Insights - The company's Q1 2025 performance showed a slight revenue decline but is expected to accelerate significantly starting Q2 2025, driven by the completion of major projects and increased contract liabilities [1][3]. - The gross margin improved to 20.6% in Q1 2025, up by 0.78 percentage points year-on-year, while operating cash flow remained robust with a net inflow of 1.3 billion yuan [2]. - New contracts signed in Q1 2025 reached 300 million yuan, a staggering increase of 7592% year-on-year, indicating strong future revenue potential [3]. Financial Performance Summary - Q1 2025 revenue was 550 million yuan, a 5.5% increase year-on-year, while net profit attributable to shareholders was 52 million yuan, down 10.5% year-on-year [1]. - The company expects net profits for 2025-2027 to grow by 44%, 35%, and 36% respectively, with earnings per share (EPS) projected at 0.58, 0.79, and 1.07 yuan [4]. - The company reported a significant increase in contract liabilities, up 70% from the beginning of the year, indicating strong future revenue recognition [1][2].

Group 1 - The core viewpoint of the article highlights the social security fund's investment strategy, showing a mix of new investments, increases, and reductions in holdings among various companies [1][2][3] - As of the end of Q1, the social security fund held shares in 15 companies, with a total holding of 260 million shares and a market value of 5.215 billion yuan [1][2] - The fund has newly invested in five companies, including Shandong Sanwei Chemical Group Co., Ltd. and Hainan Junda New Energy Technology Co., Ltd. [2][3] Group 2 - The social security fund increased its holdings in five companies, with the largest investment in Wanhua Chemical Group Co., Ltd., valued at 1.426 billion yuan [2][3] - The fund maintained its positions in two companies, while slightly reducing its holdings in three others, indicating a flexible response to market conditions [3] - Among the companies held, 12 are listed on the main board, 2 on the Sci-Tech Innovation Board, and 1 on the Growth Enterprise Market, reflecting a "technology + consumption" dual-core driving pattern [4] Group 3 - Seven of the companies in which the fund invested reported year-on-year profit growth in Q1, with Zhongyuan Media leading at a 234.61% increase [4] - Despite an average decline of 3.28% in the fund's heavy stocks, some companies like Juewei Food saw a price increase of 15.79% [4] - The fund's investment strategy is seen as a stabilizing force in the A-share market, focusing on high-quality assets and long-term growth potential [5][6]

证券代码：002469 证券简称：三维化学 公告编号：2025-015 山东三维化学集团股份有限公司 2025年第一季度土木工程建筑业务经营情况简报 130,659.61万元，不含税金额为人民币117,166.48万元。截至2025年3月31日， 该项目实现营业收入35,691.99万元，累计收款53,619.02万元。 三、其他情况说明 鉴于上述有关数据为阶段性数据，且未经审计，因此上述数据与最终披露的 数据可能存在差异。同时，由于受客户情况变化、财务核算方法等因素的影响， 上述项目未来确认的营业收入与合同金额并不完全一致，敬请投资者注意投资风 险。 一、总体情况 | | 第一季度 | | 截至报告期末累计已 | | 第一季度 | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 项目 | 新签约订单 | | 签约未完工订单 | | 已中标未签约订单 | | 备注 | | 类型 | 数量 | 金额 | 数量 | 金额 | 数量 | 金额 | | | | （个） | （万元） | （个） | （万元） | （个） | （万元） | | | 咨询设 ...