（记者 张明双） 每经头条（nbdtoutiao）——展望"十五五"|专访贺铿：必须改变以往将资金过度集中于房屋建设和基础 设施建设的倾向，更加突出民生领域投入 每经AI快讯，史丹利10月21日晚间发布公告称，公司第七届第四次董事会临时会议于2025年10月21日 在山东省临沂市临沭县史丹利路公司办公楼会议室以现场会议结合通讯方式召开。会议审议了《2025年 第三季度报告》等文件。 ...

证券代码：002588 证券简称：史丹利 公告编号：2025-041 史丹利农业集团股份有限公司 关于为控股子公司提供担保的进展公告 本公司及董事会全体成员保证公告的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 一、对外担保概述 史丹利农业集团股份有限公司（以下简称"公司"或"保证人"）分别于 2025 年 4 月 17 日和 2025 年 5 月 13 日召开的第六届董事会第十三次会议、2024 年度 股东会审议通过了《关于公司 2025 年度对外担保额度预计的议案》，同意公司 2025 年度预计向最近一期资产负债率未超过 70%的控股子公司松滋史丹利宜化 新材料科技有限公司（以下简称"松滋新材料"）提供担保额度预计不超过人民 币 4.60 亿元，松滋新材料其他股东按出资比例对其提供同等担保，松滋新材料 对该担保提供反担保。上述担保额度在任一时点的担保余额不得超过股东会审议 通过的担保额度，担保方式为连带责任保证担保，担保额度有效期自股东会审议 通过之日起 12 个月内有效。详细内容请见公司于 2025 年 4 月 18 日刊登在指定 信息披露媒体《中国证券报》《上海证券报》《证券时报》《证 ...

证券代码：002588 证券简称：史丹利 公告编号：2025-039 史丹利农业集团股份有限公司 第七届董事会第四次临时会议决议公告 本公司及董事会全体成员保证公告的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 一、会议召开情况 史丹利农业集团股份有限公司（以下简称"公司"）第七届董事会第四次临时 会议于 2025 年 10 月 21 日上午 9 时在山东省临沂市临沭县史丹利路公司办公楼 会议室以现场会议结合通讯方式召开。会议通知及会议资料于 2025 年 10 月 16 日以电子邮件或直接送达方式送达全体董事、高级管理人员。会议应到董事 6 人，实到董事 6 人。董事长高进华先生、董事张磊先生、靳职武先生、邱红女士 现场出席会议并表决，独立董事沈瑞鉴先生、李新中先生以通讯方式表决。公司 部分高级管理人员列席了本次会议，会议由董事长高进华先生主持。本次会议的 通知、召集、召开和表决方式符合《中华人民共和国公司法》和《公司章程》的 有关规定。 二、会议审议情况 经全体董事审议，会议形成如下决议： 《2025 年第三季度报告》请见公司于 2025 年 10 月 22 日刊登在指定信息披 露媒体《中 ...

Core Viewpoint - Stanley (002588.SZ) reported a strong performance in the first three quarters of 2025, with significant growth in both revenue and net profit [1] Financial Performance - The company's operating revenue for the first three quarters reached 9.29 billion yuan, representing a year-on-year increase of 17.91% [1] - The net profit attributable to shareholders of the listed company was 815 million yuan, showing a year-on-year growth of 22.71% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 754 million yuan, reflecting a year-on-year increase of 31.16% [1] - Basic earnings per share stood at 0.7076 yuan [1]

史丹利（002588）(002588.SZ)发布2025年三季度报告，该公司前三季度营业收入为92.9亿元，同比增长 17.91%。归属于上市公司股东的净利润为8.15亿元，同比增长22.71%。归属于上市公司股东的扣除非经 常性损益的净利润为7.54亿元，同比增长31.16%。基本每股收益为0.7076元。 ...

史丹利公告，第三季度营收为28.99亿元，同比增长31.41%；净利润为2.08亿元，同比增长35.36%。前 三季度营收为92.9亿元，同比增长17.91%；净利润为8.15亿元，同比增长22.71%。 ...

Financial Performance - The company's operating revenue for Q3 2025 reached ¥2,899,027,387.71, representing a year-on-year increase of 31.41%[5] - Net profit attributable to shareholders was ¥208,337,069.84, up 35.36% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥181,853,129.74, reflecting a 33.89% increase year-on-year[5] - Basic earnings per share for the period were ¥0.1809, a rise of 35.61% from the previous year[5] - Net profit for the current period was ¥823,954,975.79, representing a 28.3% increase from ¥642,136,943.01 in the previous period[20] - Earnings per share (EPS) for the current period was ¥0.7076, compared to ¥0.5758 in the previous period, reflecting a growth of 22.9%[20] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥15,094,617,060.15, marking a 7.68% increase from the end of the previous year[5] - Total current assets increased to ¥6,921,043,011.91 from ¥5,559,858,979.73, representing a growth of approximately 24.5%[15] - Total assets increased to ¥15,094,617,060.15 from ¥14,018,208,801.00, reflecting a growth of about 7.7%[15] - Long-term equity investments rose to ¥1,077,608,019.37 from ¥980,576,662.95, an increase of approximately 9.9%[15] - Total liabilities increased to ¥6,834,393,141.46 from ¥6,209,470,500.14, marking a rise of 10.0%[19] - Total equity rose to ¥8,260,223,918.69, up from ¥7,808,738,300.86, indicating an increase of 5.8%[19] Cash Flow - The company's cash flow from operating activities for the period was ¥990,729,911.58, which is a 22.74% increase compared to the same period last year[9] - Operating cash flow for the current period was ¥990,729,911.58, an increase of 22.7% compared to ¥807,171,172.87 in the previous period[22] - Cash inflow from financing activities was ¥1,097,600,000.00, significantly higher than ¥482,000,000.00 in the previous period, marking an increase of 128.5%[23] - Net cash flow from financing activities surged by 596.10% to ¥224,006,175.00, primarily due to new bank loans[9] - The net increase in cash and cash equivalents was ¥442,455,975.50, contrasting with a decrease of -¥686,872,421.74 in the previous period[23] Shareholder Information - Total number of common shareholders at the end of the reporting period is 33,103[11] - The largest shareholder, Gao Jinhua, holds 33.77% of shares, totaling 389,050,880 shares, with 107,625,000 shares pledged[11] - The total number of preferred shareholders at the end of the reporting period is 0[13] - The company has not reported any significant changes in the top 10 shareholders due to margin trading activities[12] Operational Highlights - The company reported a significant increase in short-term borrowings, which rose by 248.48% to ¥278,983,491.56[8] - The total amount of contract liabilities increased by 33.00% to ¥2,017,723,427.87, indicating a rise in customer prepayments[8] - The company experienced a 68.52% increase in trading financial assets, reaching ¥2,297,560,523.41, attributed to an increase in securities investments[8] - The company reported a significant increase in research and development expenses, which totaled ¥321,472,488.93, compared to ¥281,036,630.36 in the previous period, reflecting a growth of 14.4%[19] - The company achieved an investment income of ¥165,575,754.59, up from ¥144,424,164.44, representing a growth of 14.7%[19] Costs and Expenses - Total operating costs amounted to ¥8,554,401,085.46, up 16.9% from ¥7,319,443,279.08 in the prior period[19] - Cash paid for purchasing goods and services was ¥8,817,425,787.89, an increase of 26.1% from ¥6,990,404,539.73 in the previous period[22] - Cash paid for employee compensation was ¥485,208,714.70, slightly up from ¥461,149,426.95 in the previous period, showing a growth of 5.2%[22]

Investment Rating - The report maintains an "Optimistic" rating for the chemical industry [3][4]. Core Insights - The report highlights a recovery opportunity at the bottom of the chemical cycle, particularly in the titanium dioxide sector, with major companies expanding globally and focusing on asset acquisitions [3][4]. - Global oil supply is expected to increase significantly, driven by non-OPEC production, while demand remains stable with a projected global GDP growth of 2.8% [4][5]. - The report emphasizes the importance of various chemical chains, including textiles, agriculture, and exports, as well as the potential for recovery in profitability for titanium dioxide due to easing trade tensions and improved overseas real estate conditions [3][4]. Summary by Sections Industry Dynamics - Oil supply is anticipated to rise, with OPEC+ expected to increase production, while demand is stable but may slow due to tariffs [4]. - Coal prices are expected to stabilize at a low level, and natural gas exports from the U.S. are likely to increase, reducing import costs [4]. Chemical Product Prices and Trends - The report notes that the PPI for all industrial products fell by 2.3% year-on-year in September, indicating a narrowing decline compared to August [5]. - Manufacturing PMI rose to 49.8%, suggesting a continued recovery in manufacturing activity [5]. Investment Analysis - The report suggests focusing on four key areas for investment: textiles, agriculture, export-related chemicals, and sectors benefiting from reduced competition [3]. - Specific companies to watch include Lu Xi Chemical, Tongkun Co., and Huafeng Chemical in the textile chain, and various firms in the agricultural sector such as Hualu Hengsheng and Baofeng Energy [3][4]. Key Company Valuations - The report provides a valuation table for key companies, indicating their market capitalization and projected earnings for the coming years [14].

Investment Rating - The report maintains an "Optimistic" rating for the chemical industry [3][4]. Core Insights - The report highlights the global expansion of major titanium dioxide manufacturers, emphasizing the opportunity for industry recovery from the bottom of the cycle. The acquisition of Venator UK's titanium dioxide assets and the establishment of subsidiaries in Malaysia and the UK are key developments [4][5]. - The macroeconomic outlook for the chemical sector indicates stable oil demand despite a slight slowdown due to tariffs, with global GDP growth projected at 2.8%. The report also notes that coal prices are stabilizing and natural gas export facilities in the U.S. are expected to accelerate [4][5]. - The report suggests investment strategies across various sectors, including textiles, agriculture, and chemicals, with a focus on companies benefiting from the "anti-involution" policies [4][5]. Summary by Sections Industry Dynamics - The report discusses the current macroeconomic conditions affecting the chemical industry, including oil supply and demand dynamics, with a forecast of increased production from non-OPEC sources and stable global oil demand [5][6]. - It notes that the PPI for industrial products decreased by 2.3% year-on-year in September, indicating a stabilization in prices due to improved supply-demand structures [6]. Investment Analysis - The report recommends a diversified investment approach focusing on sectors such as textiles, agriculture, and export-oriented chemicals, highlighting specific companies for potential investment [4][18]. - Key materials for growth are identified, including semiconductor materials and packaging materials, with specific companies mentioned for each category [4][18]. Price Movements - The report provides detailed price movements for various chemical products, including titanium dioxide, fertilizers, and pesticides, indicating a mixed outlook with some prices stabilizing while others show slight declines [11][14][20]. - It highlights the impact of external factors such as raw material costs and international trade dynamics on pricing trends within the chemical sector [11][14].

Core Viewpoint - The compound fertilizer industry is undergoing structural changes, with leading companies enhancing their competitive advantages, making them typical cash cow assets with potential for increased dividends in the future [1][2]. Group 1: Dividend Potential - The long-term dividend potential of leading compound fertilizer companies is underestimated, as the market often focuses on the industry's low asset intensity and manufacturing barriers, overlooking the competitive advantages of leading firms [1][2]. - The expected increase in dividends is driven by steady profit growth, supported by the enhanced competitiveness of leading companies [2][3]. Group 2: Competitive Advantages - Leading companies are experiencing increased brand loyalty, which supports sales growth, as they reduce uncertainty for channels and farmers, ensuring mutual benefits amid price fluctuations [2]. - The continuous improvement of integrated layouts enhances product profitability, with leading firms investing in upstream integration and differentiating terminal products to increase pricing power [2]. Group 3: Capital Expenditure and Cash Flow - The phase of significant capital expenditure is coming to an end, with leading companies having healthy operating cash flows and ample cash on hand, which allows for potential increases in dividends as investment becomes more restrained [3].