两融数据显示，该股最新（12月31日）两融余额为2.71亿元，其中，融资余额为2.70亿元，近10日增加 1461.16万元，环比增长5.73%。 公司发布的三季报数据显示，前三季度公司共实现营业收入33.92亿元，同比增长9.05%，实现净利润 8.28亿元，同比增长77.57%，基本每股收益为0.6656元，加权平均净资产收益率9.01%。（数据宝） 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 （原标题：东方铁塔涨5.20%，股价创历史新高） 东方铁塔股价创出历史新高，截至9:33，该股上涨5.20%，股价报19.41元，成交量193.29万股，成交金 额3675.70万元，换手率0.17%，该股最新A股总市值达241.47亿元，该股A股流通市值219.36亿元。 证券时报•数据宝统计显示，东方铁塔所属的基础化工行业，目前整体涨幅为0.66%，行业内，目前股价 上涨的有248只，涨幅居前的有农心科技、盐湖股份、振华股份等，涨幅分别为9.34%、8.10%、 7.95%。股价下跌的有162只，跌幅居前的有恒大高新、神剑股份、佳先股份等，跌幅分别为9.98%、 8.16%、5.22%。 ...

Group 1 - The core point of the news is that Dongfang Tower's stock price increased by 5.26%, reaching 19.42 yuan per share, with a total market capitalization of 24.16 billion yuan [1] - Dongfang Tower, established on August 1, 1996, and listed on February 11, 2011, specializes in the research, design, production, sales, and installation of steel structures and tower products [1] - The company's main business revenue composition includes potassium chloride (65.07%), angle steel towers (16.09%), steel structures (11.72%), steel pipe towers (4.63%), sodium bromide (1.73%), other (0.52%), construction installation (0.14%), and power generation (0.10%) [1] Group 2 - From the perspective of fund holdings, one fund under Yinhua Fund has a significant position in Dongfang Tower, with 141,900 shares held, accounting for 0.84% of the fund's net value [2] - The Yinhua Specialized and New Quantitative Preferred Stock Fund A (014668) has achieved a return of 50.95% this year, ranking 619 out of 4189 in its category [2] - The fund manager, Yang Teng, has a total asset scale of 2.753 billion yuan, with the best fund return during his tenure being 31.2% and the worst being -37.1% [2]

Group 1 - The report indicates that China is entering a period of prosperity similar to Japan in 1978, driven by high industrial value added and export ratios, along with continued trade surpluses and wage growth [1][11] - The cash flow statements of the real economy in China have been damaged from 2022 to 2024 due to the Fed's interest rate hikes and a decline in real estate prices, leading to capital outflows and reduced cash flow [2][12] - The resumption of the Fed's interest rate cuts is expected to reverse the outflow of cross-border capital, thereby repairing the cash flow statements of enterprises and households [3][13] Group 2 - The report emphasizes the necessity of debt restructuring in China, drawing parallels with Japan's experience in the 1990s, where failure to act led to prolonged economic stagnation [4][14] - The potential for the Fed's quantitative easing (QE) to provide the necessary liquidity for China's central bank to undertake debt restructuring is highlighted, which could alleviate external constraints on the yuan [4][14] - The year 2026 is projected to mark the beginning of a new prosperity phase for China's economy, with a cyclical shift expected in manufacturing and consumption sectors [6][15] Group 3 - The report recommends a selection of stocks for January 2026, including Huafeng Aluminum, Zijin Mining, and TCL Technology, among others, indicating a focus on sectors poised for growth [9][10] - The automotive sector is highlighted, with Great Wall Motors and Leap Motor being noted for their strategic positioning in high-end and global markets [32][38] - In the chemical sector, Dongfang Tower is recognized for its growth potential driven by increasing potassium and phosphorus production [41][43]

Industry Overview - The chemical sector's overall performance ranked 7th this week (2025/12/22-2025/12/26) with a fluctuation of 4.23%, outperforming the Shanghai Composite Index by 2.35 percentage points and the ChiNext Index by 0.34 percentage points [1] - The chemical industry is expected to continue its differentiated trend in 2025, with a focus on synthetic biology, pesticides, chromatography media, sweeteners, vitamins, light hydrocarbon chemicals, COC polymers, and MDI [1] Synthetic Biology - The arrival of a pivotal moment in synthetic biology is anticipated, driven by the adjustment of energy structures, which may disrupt fossil-based materials and favor low-energy products [1] - Traditional chemical companies are expected to compete based on energy consumption and carbon tax costs, with successful firms leveraging green energy alternatives and integrated advantages to reduce costs [1] - The demand for bio-based materials is projected to surge, leading to potential profitability and valuation increases for leading companies in the synthetic biology sector, such as Kasei Bio and Huaheng Bio [1] Refrigerants - The implementation of quota policies is expected to usher in a high-growth cycle for third-generation refrigerants, with supply entering a "quota + continuous reduction" phase starting in 2024 [2] - The demand for refrigerants is anticipated to grow steadily due to the development of heat pumps, cold chain markets, and the expansion of the air conditioning market in Southeast Asia [2] - Companies with a high quota share, such as Juhua Co., Sanmei Co., Haohua Technology, and Yonghe Co., are expected to benefit significantly from this trend [2] Electronic Specialty Gases - Electronic specialty gases are critical to the electronics industry and represent a core component of domestic industrial chain localization [2] - The domestic market faces a contradiction between rapid upgrades in wafer manufacturing and insufficient high-end electronic specialty gas capacity, presenting significant domestic substitution opportunities [2] - Key players like Jinhong Gas, Huate Gas, and China Shipbuilding Gas are positioned to capitalize on the growing demand driven by integrated circuits, panels, and photovoltaics [2] Light Hydrocarbon Chemicals - The trend towards light raw materials in the global olefin industry is becoming increasingly significant, with a shift from heavy naphtha to lighter low-carbon alkanes like ethane and propane [3] - Light hydrocarbon chemicals are characterized by low carbon emissions, low energy consumption, and low water usage, aligning with global carbon neutrality goals [3] - Companies in the light hydrocarbon sector, such as Satellite Chemical, are expected to see a revaluation of their value as this trend continues [3] COC Polymers - The industrialization process of COC/COP (cyclic olefin copolymer) is accelerating in China, driven by domestic companies achieving breakthroughs and the shift of downstream industries to domestic sources [4] - COC/COP materials are increasingly used in various applications, including mobile camera lenses and medical packaging, with a focus on high-end applications [4] - Companies like Acolyte are recommended for their potential in the COC polymer production segment [4] Potash Fertilizers - Potash fertilizer prices are expected to rebound as the industry enters a destocking cycle, with supply constraints due to Canpotex withdrawing new quotes and Nutrien announcing production cuts [5] - The demand for potash fertilizers is likely to increase as farmers respond to rising grain prices, leading to a potential reversal in potash prices [5] - Leading companies in the potash sector, such as Yara International, Salt Lake Potash, and Zangge Mining, are recommended for investment [5] MDI Market - The MDI market is characterized by oligopoly, with demand steadily improving due to the expansion of polyurethane applications [6] - The global MDI production capacity is concentrated among five major chemical giants, which control approximately 90.85% of the market [6] - Companies like Wanhua Chemical are expected to benefit from the favorable supply dynamics and demand recovery in the MDI sector [6] Chemical Price Tracking - The top five price increases this week included NYMEX natural gas (9.59%), PTA (8.95%), and butadiene (6.83%) [6] - The top five price decreases included pure MDI (-4.23%) and acrylic fiber (-3.45%) [6] - A total of 170 chemical companies reported production capacity impacts this week, with 6 new repairs and 10 restarts [6]

Core Viewpoint - Qingdao Oriental Tower Co., Ltd. has shown a significant increase in revenue and net profit for the first nine months of 2025, indicating strong business performance in its core sectors [2]. Group 1: Financial Performance - For the period from January to September 2025, the company achieved an operating income of 3.392 billion yuan, representing a year-on-year growth of 9.05% [2]. - The net profit attributable to shareholders reached 828 million yuan, marking a substantial year-on-year increase of 77.57% [2]. Group 2: Shareholder and Market Activity - As of September 30, 2025, the number of shareholders decreased by 10.29% to 20,400, while the average circulating shares per person increased by 11.48% to 55,351 shares [2]. - The company has distributed a total of 2.614 billion yuan in dividends since its A-share listing, with 1.257 billion yuan distributed in the last three years [3]. Group 3: Financing and Trading Activity - On December 29, 2025, Oriental Tower's financing buy-in amounted to 15.55 million yuan, while the financing repayment was 15.80 million yuan, resulting in a net financing outflow of 245,900 yuan [1]. - The total balance of margin trading and securities lending reached 271 million yuan, with the financing balance accounting for 1.20% of the circulating market value, indicating a high level of activity [1]. - The company had a securities lending balance of 747,500 yuan, with a lending volume of 4,130 shares on December 29, 2025, which is above the 50th percentile level over the past year [1].

Market Overview - The agricultural chemical sector experienced a decline of 1.48% on December 29, with Runfeng Co., Ltd. leading the drop [1] - The Shanghai Composite Index closed at 3965.28, up 0.04%, while the Shenzhen Component Index closed at 13537.1, down 0.49% [1] Stock Performance - Notable gainers in the agricultural chemical sector included: - Beisimei (300796) with a closing price of 8.76, up 1.39% on a trading volume of 54,300 shares and a turnover of 47.32 million yuan [1] - Nongxin Technology (001231) at 22.72, up 1.38% with a trading volume of 25,600 shares and a turnover of 57.69 million yuan [1] - Baiao Chemical (603360) at 31.68, up 1.38% with a trading volume of 120,500 shares and a turnover of 381 million yuan [1] - Conversely, significant decliners included: - Runfeng Co., Ltd. (301035) at 66.10, down 5.58% with a trading volume of 34,100 shares and a turnover of 228 million yuan [2] - Yanhai Co., Ltd. (000792) at 27.69, down 4.48% with a trading volume of 1,063,600 shares and a turnover of 2.994 billion yuan [2] - Zhejiang Agricultural Co., Ltd. (002758) at 9.83, down 3.91% with a trading volume of 170,200 shares [2] Capital Flow - The agricultural chemical sector saw a net outflow of 637 million yuan from institutional investors, while retail investors contributed a net inflow of 407 million yuan [2] - Key stocks with notable capital flows included: - Yuntianhua (600096) with a net inflow of 12.8 million yuan from institutional investors [3] - Baiao Chemical (603360) with a net inflow of 18.96 million yuan from institutional investors [3] - Runfeng Co., Ltd. (301035) had a net outflow of 30.6 million yuan from institutional investors but a net inflow of 20.74 million yuan from retail investors [3]

Core Viewpoint - Dongfang Tower's stock price increased by 5.12% to 17.87 CNY per share, with a trading volume of 180 million CNY and a turnover rate of 0.92%, resulting in a total market capitalization of 22.231 billion CNY [1] Company Overview - Qingdao Dongfang Tower Co., Ltd. is located in Jiaozhou, Shandong Province, and was established on August 1, 1996, with its listing date on February 11, 2011 [1] - The company's main business includes the research, design, production, sales, and installation of steel structures (power plant steel structures, petrochemical steel structures, civil building steel structures) and tower products (transmission line towers, broadcast and television towers, communication towers) [1] - The revenue composition of the main business is as follows: potassium chloride 65.07%, angle steel towers 16.09%, steel structures 11.72%, steel pipe towers 4.63%, sodium bromide 1.73%, others 0.52%, construction installation 0.14%, and power generation 0.10% [1] Fund Holdings - According to data, one fund under Penghua Fund holds a significant position in Dongfang Tower [2] - Penghua Jinxiang Mixed A (008119) held 8,000 shares in the third quarter, accounting for 0.17% of the fund's net value, ranking as the ninth largest holding [2] - The estimated floating profit for today is approximately 6,960 CNY [2] Fund Manager Information - The fund managers of Penghua Jinxiang Mixed A (008119) are Deng Mingming and Zhang Jingxian [3] - As of the report, Deng Mingming has a cumulative tenure of 6 years and 204 days, with a total fund asset size of 41.022 billion CNY and the best fund return during his tenure being 33.11% [3] - Zhang Jingxian has a cumulative tenure of 230 days, with a total fund asset size of 3.008 billion CNY and the best fund return during her tenure being 3.1% [3]

Core Viewpoint - The China Securities 1000 Value ETF (562530) opened down 1.00% at 1.286 yuan, reflecting market volatility and performance of its underlying assets [1] Group 1: ETF Performance - The China Securities 1000 Value ETF (562530) has a performance benchmark based on the China Securities Intelligent Selection 1000 Value Steady Strategy Index [1] - Since its inception on July 28, 2022, the fund has achieved a return of 29.92% [1] - The fund's return over the past month has been -2.91% [1] Group 2: Top Holdings - Key holdings in the ETF include: - Shangfeng Cement, which opened up 0.82% [1] - Mingtai Aluminum, which decreased by 0.07% [1] - Camel Group, which increased by 0.56% [1] - Oriental Tower, which rose by 0.06% [1] - CIMC Vehicles, which fell by 0.48% [1] - Yingqu Technology, which gained 1.12% [1] - Changjiang Media, which decreased by 0.11% [1] - Sifang Holdings, which increased by 1.34% [1] - Mulinsen, which fell by 0.22% [1] - Jiahua Energy, which rose by 0.24% [1]

Group 1: Market Impact - The recent accident at Mosaic's Esterhazy potash mine has disrupted potash supply, potentially leading to higher prices due to tighter global supply-demand dynamics [1][2] - The Esterhazy mine has a nameplate capacity of 7.8 million tons per year, accounting for approximately 11.96% of the global potash production capacity projected at 65.2 million tons for 2024 [2] Group 2: Price Trends - The price of potassium chloride is expected to remain high due to winter storage demand and cost support, with a current price of 3,272 CNY per ton, reflecting a year-on-year increase of 28.82% [4] - A recent agreement for the 2026 potash import contract at $348 per ton (CFR) indicates an upward price trend, with a slight increase of $2 per ton compared to the previous year [3] Group 3: Company Recommendations - Salt Lake Co. has a production capacity of 5 million tons per year and ranks fourth globally, although its production decreased by 11.76% in the first half of 2025 [5] - Yara International has a capacity of 2 million tons of potassium chloride, with ongoing projects expected to enhance production [5] - Oriental Tower's subsidiary in Laos holds significant potash resources and is advancing its production capacity, with a current output of 59.69 thousand tons [5]

Group 1 - The stock of Dongfang Tower fell by 5.05%, trading at 17.50 yuan per share, with a total transaction volume of 371 million yuan and a turnover rate of 1.82%, resulting in a total market capitalization of 21.771 billion yuan [1] - Dongfang Tower, established on August 1, 1996, and listed on February 11, 2011, is located in Jiaozhou, Qingdao, Shandong Province. The company specializes in the research, design, production, sales, and installation of steel structures and tower products [1] - The main business revenue composition includes potassium chloride at 65.07%, angle steel towers at 16.09%, steel structures at 11.72%, steel pipe towers at 4.63%, sodium bromide at 1.73%, others at 0.52%, construction installation at 0.14%, and power generation at 0.10% [1] Group 2 - According to data, a fund under Yinhua Fund holds a significant position in Dongfang Tower, with the Yinhua Specialized and New Quantitative Preferred Stock A Fund (014668) holding 141,900 shares, accounting for 0.84% of the fund's net value, making it the second-largest holding [2] - The Yinhua Specialized and New Quantitative Preferred Stock A Fund was established on July 20, 2022, with a latest scale of 80.6318 million yuan. The fund has achieved a return of 42.6% this year, ranking 770 out of 4,197 in its category [2] - The fund manager, Yang Teng, has a cumulative tenure of 4 years and 21 days, with the fund's total asset size at 2.753 billion yuan. The best return during his tenure is 22.76%, while the worst return is -36.9% [2]