智通财经APP讯，雅化集团(002497.SZ)披露2025年度业绩预告，公司预计归属于上市公司股东的净利润 6亿元至6.8亿元，同比增长133.36%至164.47%;扣除非经常性损益后的净利润6.6亿元至7.2亿元，同比增 长302.48%至339.07%。 ...

一、停复牌 嘉事堂：股东光大实业筹划公司股权转让，股票停牌。 二、回购 片仔癀：控股股东九龙江集团拟3亿元-5亿元增持公司股份。创新药PZH2113胶囊Ⅰ期临床试验完成首 例受试者入组，国内外暂无相同适应症的同靶点药品获批上市。 三、并购重组 泰凌微：拟通过发行股份及支付现金方式收购磐启微100%股权。 四、经营 1、百通能源：拟通过全资子公司图达铝业与安哥拉共和国丹德港发展有限公司签订《投资意向协 议》，拟以自有及自筹资金约4亿美元对外投资，并设立全资公司百通图达（安哥拉）铝业有限公司。 2、普洛药业：与杭州德睿智药科技有限公司签订《战略合作框架协议》，开展CDMO项目的长期合 作。 3、诺德股份：拟对全资子公司青海电子2010年投资建设的二厂1.5万吨生产线设备实施更新改造，项目 总投资估算为人民币1.68亿元；改造完成后，生产范围将从原有设计规格为6-8微米及以上常规锂电铜 箔，拓展至具备4.5微米及以下高端锂电铜箔的量产能力。 五、业绩变动 1、国泰海通：2025年净利润为275.33亿元至280.06亿元，同比增加111%至115%。财富管理、机构与交 易等业务收入同比显著增长。 6、南亚新材：20 ...

人民财讯1月27日电，雅化集团（002497）1月27日发布业绩预告，预计2025年度净利润为6亿元—6.8亿 元，同比增长133.36%—164.47%。基本每股收益0.5206元。报告期内，公司优质头部客户订单稳定，下 半年锂盐市场价格有所回升，部分客户终端产品市场反馈良好带动公司第三、四季度产品销量大幅增 长。 ...

（文章来源：每日经济新闻） 每经AI快讯，1月27日，雅化集团(002497.SZ)公告称，预计2025年度归属于上市公司股东的净利润为 6.00亿元~6.80亿元，同比增长133.36%~164.47%。报告期内，公司优质头部客户订单稳定，下半年锂盐 市场价格有所回升，部分客户终端产品市场反馈良好带动公司第三、四季度产品销量大幅增长。同时， 公司加强生产运营各环节管控，加强矿、产、销平衡，提高效率，降低成本，使公司经营业绩持续回 升，较去年同期有所增长。 ...

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、本期业绩预计情况 证券代码：002497 证券简称：雅化集团 公告编号：2026-01 四川雅化实业集团股份有限公司 2025 年度业绩预告 四、风险提示 报告期内，公司优质头部客户订单稳定，下半年锂盐市场价格有所回升，部分客户终端产品市场反 馈良好带动公司第三、四季度产品销量大幅增长。同时，公司加强生产运营各环节管控，加强矿、产、 销平衡，提高效率，降低成本，使公司经营业绩持续回升，较去年同期有所增长。 经初步核算，预计 2025 年度归属于上市公司股东的净利润为 60,000 万元—68,000 万元，同比增长 133.36%—164.47%；其中第四季度单季度归属于上市公司股东的净利润为 26,600.66 万元—34,600.66 万 元，同比增长 159.51%—237.56%。 | 项 目 | 本报告期 | | | 上年同期 | | | --- | --- | --- | --- | --- | --- | | 归属于上市公司股 | | 60,000 | ～ | 68,000 | 25,711.5 ...

Lithium Carbonate Futures Market Data Change Analysis - **Main Contract and Basis**: The price of the main lithium carbonate contract dropped from 181,520 yuan/ton on January 23, 2026, to 165,680 yuan/ton on January 26, 2026, a decline of 8.73%, showing a slight pullback. The basis strengthened from -11,020 yuan/ton to 12,820 yuan/ton, with a change rate of 216.33%, indicating a significant strengthening of the basis [39]. - **Open Interest and Trading Volume**: The open interest decreased from 438,728 lots to 416,719 lots, a reduction of 5.02%, showing a contraction in open interest. The trading volume increased from 342,805 lots to 575,675 lots, a growth of 67.93%, indicating a significant expansion of trading volume [39]. Industry Chain Supply, Demand, and Inventory Change Analysis - **Supply Side**: According to information, the lithium ore project of Yahua Group (January 16) has improved self - sufficiency; Sigma Lithium (January 23) sold lithium ore and denied operational issues. The price of spodumene concentrate rose from 17,985 yuan/ton to 19,470 yuan/ton (8.26%), and the price of lepidolite concentrate rose from 8,500 yuan/ton to 8,700 yuan/ton (2.35%), indicating an increase in raw material costs. The production capacity utilization rate of lithium carbonate remained stable at 87.14% [40]. - **Demand Side**: The data from the Passenger Car Association (January 21) showed a year - on - year decline in new energy vehicle sales, indicating weak demand. However, the prices of downstream products such as power ternary materials (from 186,300 yuan/ton to 190,300 yuan/ton, up 2.15%) and power lithium iron phosphate (from 58,630 yuan/ton to 61,175 yuan/ton, up 4.34%) increased, and the prices of battery cells generally rose, indicating demand support. Information mentioned that the cost of energy - storage battery cells increased, with price transmission lagging, and downstream resistance to high prices. In new energy vehicle exports, PHEV growth was faster than BEV, reflecting a change in demand structure [40]. - **Inventory and Warehouse Receipts**: The lithium carbonate inventory decreased from 109,679 physical tons to 108,896 physical tons (a change of - 783 tons, - 0.71%), showing a slight decline in inventory. Warehouse receipt data was not directly provided, but the inventory reduction implied supply tightness or increased demand [40]. Price Trend Judgment Based on the rising supply cost, demand - side support, and decreasing inventory, it is expected that the lithium carbonate futures price will maintain a low - level oscillation pattern in the next one to two weeks, with a possibility of a slight rebound, but attention should be paid to demand changes and macro factors [43].

您好！公司股价受宏观环境、市场情绪、行业属性等多方面因素影响。公司重视市值管理工作，制订了 《雅化集团市值管理制度》，将始终坚持聚焦锂业+民爆双主业发展，扎实做好生产经营，持续提升公 司核心竞争力，力争以切实的经营业绩回报广大投资者的信任，感谢您的关注。查看更多董秘问答>> 免责声明：本信息由新浪财经从公开信息中摘录，不构成任何投资建议；新浪财经不保证数据的准确 性，内容仅供参考。 投资者提问： 请问贵公司管理层认可当前股价吗？贵公司管理层有没有开会讨论过提升股价方法，提升公司管理效率 呢？ 董秘回答(雅化集团SZ002497)： ...

Core Viewpoint - The report highlights the performance and strategic adjustments of the Jiashi New Energy Materials Stock A Fund, indicating a positive growth trajectory and a focus on resource-oriented upstream assets in the new energy sector [2][3]. Fund Performance - The fund reported a profit of 58.44 million yuan in Q4 2025, with a weighted average profit per fund share of 0.0539 yuan [2]. - The net asset value (NAV) growth rate for the fund was 2.04% during the reporting period, with a total fund size of 2.855 billion yuan as of the end of Q4 [2][15]. - As of January 22, the fund's one-year compounded NAV growth rate reached 71.59%, ranking 4th among comparable funds [3]. Comparative Performance - Over the past three months, the fund's compounded NAV growth rate was 15.47%, ranking 11th out of 39 comparable funds [3]. - The fund's six-month compounded NAV growth rate was 57.48%, placing it 3rd among its peers [3]. - The fund's three-year Sharpe ratio was 0.5367, ranking 12th out of 32 comparable funds [8]. Risk and Exposure - The fund's maximum drawdown over the past three years was 55.48%, ranking 28th out of 32 comparable funds, with the largest quarterly drawdown occurring in Q3 2022 at 24.88% [9]. - The average stock position over the past three years was 91.63%, higher than the industry average of 87.73%, with a peak position of 94.62% at the end of 2023 [12]. Holdings and Strategy - The fund has a high concentration of holdings, with stable stock targets. As of Q4 2025, the top ten holdings included companies like CATL, Salt Lake Potash, and Huayou Cobalt [19]. - The fund management indicated a strategic shift towards increasing exposure to upstream assets related to lithium carbonate, cobalt, and nickel, in response to macroeconomic and market conditions [2].

Investment Rating - The industry rating is "Recommended" [3] Core Views - Short-term raw material supply tightness is expected to support nickel prices, with LME nickel spot price reaching $18,630 per ton, up 5.70% from January 16 [1] - The cobalt market is anticipated to see continued price increases due to structural supply tightness, with electrolytic cobalt priced at 438,000 yuan per ton, down 3.74% from January 16 [2][5] - Domestic antimony supply remains tight, providing price support, with antimony ingot prices at 160,500 yuan per ton [6] - Lithium carbonate prices are expected to continue rising, with a market average of 171,100 yuan per ton, up 8.36% from January 16 [8][19] - Supply uncertainties in the rare earth market are expected to support prices, with significant global supply concentration in China [10][20] - Tin prices are supported by overseas supply uncertainties, with LME tin prices at $54,200 per ton, up 9.66% from January 16 [11][21] - Tungsten market supply-demand imbalance is notable, with white tungsten concentrate prices at 535,500 yuan per ton, up 5.93% from January 16 [13][22] - Uranium supply tightness is expected to persist, with global uranium prices at $63.51 per pound [14][15] Summary by Sections Nickel and Cobalt Industry Update - Nickel prices are supported by supply constraints, with Indonesia's nickel mining production quota expected to be reduced to 250-260 million tons [1][16] - Cobalt supply is projected to tighten further, with Congo's export quotas confirmed to extend into 2026 [2][17] Antimony Industry Update - Antimony supply remains tight, with domestic prices expected to rise due to export restrictions and seasonal supply issues [6][18] Lithium Industry Update - Lithium carbonate prices are expected to remain strong due to demand support and supply uncertainties, particularly regarding the recovery of key lithium mines [8][19] Rare Earth Industry Update - The rare earth market is facing supply tightening due to export bans and geopolitical factors, with China maintaining a dominant position [10][20] Tin Industry Update - Tin prices are supported by uncertainties in overseas supply, particularly from Myanmar and Congo [11][21] Tungsten Industry Update - The tungsten market is experiencing a supply-demand imbalance, with prices expected to rise due to limited new supply [13][22] Uranium Industry Update - Uranium prices are supported by ongoing supply tightness and geopolitical factors affecting production [14][15]

Investment Rating - The investment rating for the non-ferrous metals industry is "Positive" (maintained) [4] Core Views - The report highlights that copper prices are experiencing high-level fluctuations amidst inventory accumulation, with short-term price adjustments expected to be limited due to the financial attributes of copper supported by rising gold prices. The supply-demand balance for copper may shift from tight equilibrium to shortage in the medium to long term, driven by insufficient capital expenditure in copper mines and frequent supply disruptions. The report suggests monitoring companies such as Zijin Mining, Luoyang Molybdenum, Jiangxi Copper, and others [5] - For aluminum, the report notes that both alumina and aluminum prices are under pressure due to high inventory levels. The short-term outlook for aluminum prices is expected to remain stable amidst high demand, particularly in the air conditioning and consumer goods sectors [5] - Lithium demand remains strong despite seasonal trends, with lithium carbonate prices entering an upward cycle driven by supply-demand reversal. The report recommends focusing on companies with high self-sufficiency in lithium resources [5] - Cobalt prices are expected to continue rising due to tight raw material supply, with the report suggesting companies like Huayou Cobalt and others for investment [5] Summary by Sections 1. Industry Overview - The report provides insights into macroeconomic indicators, including the U.S. core PCE price index and unemployment claims, which align with expectations [9] - Key announcements include Zijin Mining's completion of the second phase of the Jilong Copper Mine, significantly increasing its production capacity [10] 2. Market Performance - The non-ferrous metals sector outperformed the Shanghai Composite Index, with a weekly increase of 6.03% compared to the index's 0.84% rise [11] - The report lists the top-performing stocks in the sector, highlighting significant movements in various sub-sectors [11] 3. Valuation Changes - The report notes that the TTM PE for the non-ferrous metals sector is 33.82, with a change of 1.79, while the PB is 4.18, reflecting a significant premium over the broader market [20][23]