Group 1 - The company, Qingdao Oriental Tower Co., Ltd., expects a significant increase in net profit for the first half of 2025, projecting a profit of 451 million to 495 million yuan, representing a year-on-year growth of 62.04% to 78.35% [2] - The basic earnings per share are estimated to be between 0.3625 yuan and 0.3978 yuan, compared to 0.2213 yuan in the same period last year [2] - The increase in profitability is attributed to the rise in market prices for potassium chloride products, which is expected to boost the company's potassium fertilizer business [2] Group 2 - The performance forecast period is from January 1, 2025, to June 30, 2025, and the financial data has not yet been audited by the accounting firm [2] - The company has communicated with the auditing firm regarding the performance forecast, and there are no discrepancies between the two parties [2]

[Performance Forecast](index=1&type=section&id=I.%20Expected%20Performance%20for%20the%20Current%20Period) The company anticipates significant growth in H1 2025, with net profit attributable to shareholders projected to increase by **63.8% to 79.78%**, reaching **RMB 451 million to RMB 495 million** Performance Overview | Item | Current Reporting Period (Jan 1 - Jun 30, 2025) | Prior Period | | :--- | :--- | :--- | | **Net Profit Attributable to Shareholders of Listed Company** | Profit: RMB 451 million - RMB 495 million | Profit: RMB 275.3343 million | | Year-on-Year Growth | 63.8% - 79.78% | - | | **Net Profit Excluding Non-Recurring Gains/Losses** | Profit: RMB 437 million - RMB 481 million | Profit: RMB 269.6880 million | | Year-on-Year Growth | 62.04% - 78.35% | - | | **Basic Earnings Per Share** | Profit: RMB 0.3625/share - RMB 0.3978/share | Profit: RMB 0.2213/share | [Communication with Accounting Firm](index=1&type=section&id=II.%20Communication%20with%20Accounting%20Firm) The company has pre-communicated with its auditing accounting firm regarding the performance forecast, with no disagreements, though the data remains unaudited - The financial data related to this performance forecast has not been pre-audited by the accounting firm[3](index=3&type=chunk) - The company has pre-communicated with its auditing accounting firm regarding the performance forecast, and there are no disagreements[3](index=3&type=chunk) [Reasons for Performance Change](index=1&type=section&id=III.%20Explanation%20of%20Reasons%20for%20Performance%20Change) The significant performance improvement in the current period is primarily due to the increased market price of the company's core product, potassium chloride, driving profitability in its potash fertilizer business - During the reporting period, the market price of the company's potassium chloride products increased compared to the prior year[4](index=4&type=chunk) - Benefiting from price increases, the company's potash fertilizer business is expected to grow, thereby enhancing overall profitability[4](index=4&type=chunk) [Risk Warning](index=1&type=section&id=IV.%20Risk%20Warning) This performance forecast is a preliminary, unaudited estimate, and investors should refer to the 2025 semi-annual report for final financial data and exercise caution regarding investment risks - This performance forecast is a preliminary estimate by the company's finance department and has not been audited by an auditing institution[5](index=5&type=chunk) - Specific financial data will be detailed in the 2025 semi-annual report; investors are advised to make prudent decisions and be aware of investment risks[5](index=5&type=chunk)

Investment Rating - The report rates the industry as "Positive" [6] Core Insights - Potassium is one of the three essential nutrients for crop growth, often referred to as "the grain of food" [2] - The global potassium fertilizer market is projected to reach USD 28.12 billion in 2024, with a compound annual growth rate (CAGR) of 3.9% expected until 2033 [27] - The supply of potassium is dominated by a few major players, leading to a clear oligopoly in the industry [2][44] Industry Overview - Potassium is essential for crop growth, with a market size exceeding USD 100 billion [15] - The potassium resource is divided into solid potassium ores and potassium brine, with solid potassium ores being the majority [28] - Global potassium resources are unevenly distributed, with China holding only 4% of the world's reserves, leading to significant reliance on imports [2][53] Demand Analysis - Global potassium fertilizer demand is expected to grow steadily due to population increases, with an average annual growth rate of 2.67% projected from 2024 to 2030 [3] - Key regions driving demand include China, Southeast Asia, and Brazil, with specific agricultural practices increasing potassium usage [3][18] - By 2030, global potassium fertilizer demand is anticipated to reach 85.2 million tons [3] Supply Analysis - Capital expenditures for greenfield potassium projects are substantial, with development cycles typically ranging from 7 to 10 years [4] - Major projects, such as BHP's Jansen project, are expected to significantly increase global potassium production capacity [4][20] - If current projects are completed on schedule, global potassium production could reach 90.9 million tons by 2030, with a CAGR of 2.35% from 2024 to 2030 [4] Price Trends - Short-term price trends for potassium fertilizers are expected to be strong, influenced by supply constraints and high demand in key markets [5] - The price of potassium fertilizers is projected to face upward pressure until 2026, after which it may stabilize as new projects come online [5][26] - The long-term price will be supported by marginal costs, despite potential oversupply in the future [5]

Group 1 - A total of 31 buy ratings were issued by institutions today, covering 20 stocks, with Yanjing Beer receiving the highest attention, garnering 8 buy ratings [1][2] - Among the stocks rated, 6 have an upside potential exceeding 20%, with Longxin General leading at 50.76% based on a target price of 19.96 yuan [1][2] - The average increase for stocks with buy ratings today was 2.13%, outperforming the Shanghai Composite Index, with notable gainers including Lexin Technology and Pengding Holdings [1][2] Group 2 - Seven stocks among those rated have released their half-year performance forecasts, with Lier Chemical expecting a net profit growth of 190.62%, followed by Zongshen Power and Longxin General with expected growths of 85.00% and 80.28% respectively [2] - The electronics sector is the most favored, with five stocks including Industrial Fulian and Allwinner Technology making the buy rating list, while machinery and basic chemicals also received attention with four and two stocks respectively [2][3] - The buy ratings include various institutions, with notable mentions such as Softcom Power and Yanjing Beer, which have received multiple buy ratings from different firms [3]

证券代码：002545 证券简称：东方铁塔 公告编号：2025-027 青岛东方铁塔股份有限公司 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。 一、股东大会审议通过利润分配方案的情况 1．青岛东方铁塔股份有限公司（以下简称"本公司"或"公司"）2024 年年度权益 分派方案已获 2025 年 5 月 21 日召开的公司 2024 年年度股东大会审议通过，分配方 案的具体内容为：以公司 2024 年 12 月 31 日总股本 1,244,062,083 股为基数，以未分 配利润向全体股东每 10 股派发现金红利 3.00 元（含税），合计派送现金股利 373,218,624.90 元。剩余未分配利润结转入下一年度。本年度不送红股，不进行公积 金转增股本。若分配方案披露后至权益分派实施前，公司股本基数由于可转债转股、 股份回购、股权激励行权、再融资新增股份上市等原因而发生变化时，公司将根据分 配比例固定不变的原则实施权益分派。 2．自分配方案披露至实施期间，公司股本总额未发生变化。 本次权益分派股权登记日为：2025年7月15日， ...

证券代码：002545 证券简称：东方铁塔 公告编号：2025-026 青岛东方铁塔股份有限公司 关于实际控制人部分股权解除质押的公告 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。 青岛东方铁塔股份有限公司（以下简称"公司"）于近日收到公司实际控制人韩 汇如先生的通知，获悉韩汇如先生持有的公司部分股份已解除质押，有关事项如 下： | 股东名称 | 是否为控股 股东或第一 | 本次解除质 | 占其所持股 | 占公司总股 | 质押起始 | 解除质押日 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 大股东及其 一致行动人 | 押股份数量 （万股） | 份比例(%) | 本比例(%) | 日 | 期 | | | 韩汇如 | 是 | 5,300 | 9.10 | 4.26 | 2020/3/20 | 2025/06/11 | 华夏银行股 份有限公司 | | | | | | | | | 苏州分行 | | 合计 | -- | 5,300 | 9.10 | 4.26 | -- | -- | -- ...

证券代码：002545 证券简称：东方铁塔 公告编号：2025-025 青岛东方铁塔股份有限公司 关于实际控制人部分股权质押的公告 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。 青岛东方铁塔股份有限公司（以下简称"公司"）于近日收到公司实际控制人韩汇 如先生的通知，获悉韩汇如先生将其持有的公司部分股份进行了质押，有关事项如下： 一、股东股份质押的基本情况 三、备查文件 1．股份质押登记证明 注：上表中如出现合计数与各分项数值总和不符，为四舍五入所致，下同。 （二）股东股份累计被质押情况 截至本公告披露日，上述股东及其一致行动人所持质押股份情况如下： | | | | | | | | 已质押股份 情况 | | 未质押股份 情况 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 持股数量（万 | 持股比 | 本次质押前 | 本次质押后 | 占其所 | 占公司 | | 占已 | 未质押 | 占未 | | 股东名称 | 股） | 例(%) | 质押股份数 | 质押股份 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The 2025 Indian potash fertilizer contract price has been set at $349 per ton, which is expected to boost the potash fertilizer market [4][20] - The domestic potassium chloride market is experiencing limited supply and tight circulation, with domestic potassium chloride production reduced and inventory at low levels [21][22] Summary by Sections Industry Trends - The chemical industry index outperformed the CSI 300 index by 1.73% this week [15] - The CCPI (China Chemical Product Price Index) reported 4033 points, down 1.08% from last week [17] Key Product Tracking - The price difference for polyester filament POY has expanded, while the price of chlorantraniliprole 97% continues to rise [29] - The domestic potassium chloride market is characterized by limited supply and cautious purchasing behavior from downstream buyers [21][22] Recommended and Beneficiary Stocks - Recommended stocks include Salt Lake Co., and Yaqi International; beneficiary stocks include Cangge Mining and Dongfang Iron Tower [27] - Other recommended stocks span various sectors including chemical leaders and fluorine chemicals [5]

Core Viewpoint - Dongfang Tower has secured a significant contract for transmission line towers, with a total bid amount of approximately 251 million yuan, representing 5.98% of the company's audited revenue for 2024 [1] Group 1: Recent Contracts and Orders - Since the beginning of 2025, Dongfang Tower has repeatedly won bids in the steel structure manufacturing sector, totaling approximately 738 million yuan, which accounts for 17.59% of the company's total revenue for 2024 [1] - The recent major contracts include a bid of approximately 383 million yuan for various products related to transmission and transformation projects, and another bid of about 100 million yuan for two procurement projects from the State Grid [1] Group 2: Financial Performance and Business Structure - Dongfang Tower was established in 2011 and initially focused on steel structure business, achieving revenues of 1.871 billion yuan and net profits of 263 million yuan in its first year, both showing double-digit growth [2] - The company faced a decline in performance from 2012 to 2014, with net profit dropping nearly 80% to 53.58 million yuan by 2014 [2] - In 2016, Dongfang Tower acquired 100% of Huiyuanda for 4 billion yuan, diversifying into the potassium fertilizer sector, leading to a dual business model of manufacturing and potassium fertilizer [2] - In 2024, the chemical business generated 2.38 billion yuan in revenue, while the manufacturing sector contributed 1.78 billion yuan, accounting for 56.71% and 42.42% of total revenue, respectively [2] Group 3: Recent Financial Recovery - In the first quarter of 2025, Dongfang Tower reported a revenue of 955 million yuan, a year-on-year increase of 6.48%, and a net profit of 206 million yuan, reflecting a growth of 22.7% [3] - The company's cash flow from operating activities improved significantly, reaching a net cash flow of 528 million yuan, an increase of 157.13% year-on-year [3] - As of the end of the first quarter of 2025, the company had cash and cash equivalents of 3.496 billion yuan, with a debt ratio of 34.04%, a decrease of 0.32 percentage points from the end of 2024 [3]

Group 1 - The company, Dongfang Tower, has recently won bids for the State Grid Corporation of China's 2025 procurement projects, totaling approximately 251 million yuan, which accounts for about 5.98% of the company's audited revenue for 2024 [1] - The awarded products include substation support frames, angle steel towers, and steel pipe towers [1] - Winning these projects is expected to have a positive impact on the company's operations and performance in 2025, while maintaining the company's operational independence [1]