4、公司实施本次员工持股计划有利于建立和完善员工、股东的利益共享机 制，提高职工的凝聚力和公司竞争力，调动员工的积极性和创造性，有效地将公 司股东利益、公司利益和员工个人利益结合，从而促进各方共同关注公司的长远 发展。 综上所述，公司董事会薪酬与考核委员会认为实施本次员工持股计划不会损 害公司及全体股东的利益尤其是中小股东的利益，有利于公司持续发展，同意公 司实施第三期核心员工持股计划。 安徽金禾实业股份有限公司董事会 薪酬与考核委员会关于第三期核心员工持股计划 相关事项的核查意见 安徽金禾实业股份有限公司（以下简称"公司"或"本公司"）董事会薪酬 与考核委员会根据《关于上市公司实施员工持股计划试点的指导意见》（以下简 称"《指导意见》"）《深圳证券交易所上市公司自律监管指引第1号——主板上市 公司规范运作》（以下简称"《自律监管指引第1号》"）等法律法规及规范性文件 的规定，经认真审阅相关会议资料及全体成员充分全面的讨论与分析，现就公司 第三期核心员工持股计划（以下简称"本次员工持股计划"）相关事项发表核查 意见如下： 1、公司不存在《指导意见》《自律监管指引第1号》等法律法规及规范性文 件的禁止实施员工持 ...

安徽金禾实业股份有限公司 第七届董事会第三次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 安徽金禾实业股份有限公司（以下简称"公司"或"本公司"）第七届董事 会第三次会议于 2025 年 9 月 5 日以电话及邮件的方式向各位董事发出通知，并 于 2025 年 9 月 11 日上午 9 时整以通讯方式召开，会议由董事长杨乐先生主持召 开，本次会议应参加表决的董事 9 人，实际参加表决的董事 9 人，符合《公司法》 《公司章程》的规定。会议审议并通过了以下议案： 一、审议通过了《关于<第三期核心员工持股计划（草案）>及其摘要的议 案》 证券代码：002597 证券简称：金禾实业 公告编号：2025-051 为建立和完善公司与员工的利益共享机制，实现公司、股东和员工利益的一 致性，促进公司长期、稳定发展。进一步完善公司治理结构，增强核心员工队伍 的稳定性，充分调动员工的积极性和创造性，吸引和保留核心骨干人员，提高公 司员工的凝聚力和公司竞争力，实现公司长期发展目标，促进公司持续、健康和 长远发展，公司拟实施第三期核心员工持股计划并编制了《第三期核心 ...

9月9日，金禾实业跌1.39%，成交额1.24亿元。两融数据显示，当日金禾实业获融资买入额1423.05万 元，融资偿还1241.99万元，融资净买入181.06万元。截至9月9日，金禾实业融资融券余额合计4.79亿 元。 融资方面，金禾实业当日融资买入1423.05万元。当前融资余额4.77亿元，占流通市值的3.68%，融资余 额超过近一年90%分位水平，处于高位。 融券方面，金禾实业9月9日融券偿还100.00股，融券卖出700.00股，按当日收盘价计算，卖出金额1.59 万元；融券余量9.03万股，融券余额205.70万元，超过近一年90%分位水平，处于高位。 责任编辑：小浪快报 资料显示，安徽金禾实业股份有限公司位于安徽省滁州市来安县城东大街127号，成立日期2006年12月 25日，上市日期2011年7月7日，公司主营业务涉及食品添加剂、功能性化工品及各种高端中间体、大宗 化学品等产品的研发、生产和销售,服务于食品饮料、日用消费、医药健康、农业环保及先进制造业等 领域的客户。主营业务收入构成为：食品制造48.10%，基础化工43.18%，其他8.65%，贸易0.08%。 截至6月30日，金禾实业股东 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 为进一步加强与投资者的互动交流，安徽金禾实业股份有限公司（以下简称"公司"或"本公司"）将参加 由安徽证监局指导、安徽上市公司协会与深圳市全景网络有限公司联合举办的"2025年安徽上市公司投 资者网上集体接待日"活动，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站（https://rs.p5w.net），或关注微信 公众号：全景财经，或下载全景路演APP,参与本次互动交流，活动时间为2025年9月15日（周一） 15:00-17:00。届时公司高管将在线就公司业绩、公司治理、发展战略、经营状况、融资计划、股权激励 和可持续发展等投资者关心的问题，与投资者进行沟通与交流，欢迎广大投资者踊跃参与！ 特此公告。 关于参加2025年安徽辖区上市公司 安徽金禾实业股份有限公司 投资者网上集体接待日活动的公告 董事会 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。 证券代码：002597 证券简称：金禾实业 公告编号：2025-050 安徽金禾实业股份有限公司 二〇二五年九月十日 ...

证券代码：002597 证券简称：金禾实业 公告编号：2025-050 安徽金禾实业股份有限公司 关于参加 2025 年安徽辖区上市公司投资者 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。 为进一步加强与投资者的互动交流，安徽金禾实业股份有限公司（以下简称 "公司"或"本公司"）将参加由安徽证监局指导、安徽上市公司协会与深圳市 全景网络有限公司联合举办的"2025年安徽上市公司投资者网上集体接待日"活 动，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （https://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演APP, 参与本次互动交流，活动时间为2025年9月15日（周一）15:00-17:00。届时公司 高管将在线就公司业绩、公司治理、发展战略、经营状况、融资计划、股权激励 和可持续发展等投资者关心的问题，与投资者进行沟通与交流，欢迎广大投资者 踊跃参与！ 特此公告。 安徽金禾实业股份有限公司 董事会 二〇二五年九月十日 网上集体接待日活动的公告 ...

公司研究丨点评报告丨金禾实业（002597.SZ） 丨证券研究报告丨 [Table_Title] Q2 短期业绩承压，三氯蔗糖价格坚挺 报告要点 [Table_Summary] 公司发布 2025 年半年报，实现收入 24.4 亿元（同比-3.7%），实现归属净利润 3.3 亿元（同比 +35.3%），实现归属扣非净利润 3.4 亿元（同比+35.5%）。其中 Q2 单季度实现收入 11.4 亿元 （同比-13.8%，环比-12.2%），归属净利润 0.9 亿元（同比-21.7%，环比-61.9%），实现归属扣 非净利润 1.1 亿元（同比-13.9%，环比-51.2%）。 分析师及联系人 [Table_Author] SAC：S0490516100002 SAC：S0490525040004 SFC：BUT911 1 金禾实业（002597.SZ） cjzqdt11111 [Table_Title2] Q2 短期业绩承压，三氯蔗糖价格坚挺 [Table_Summary2] 事件描述 请阅读最后评级说明和重要声明 马太 王呈 %% %% %% %% research.95579.com 公司发布 2025 年 ...

Investment Rating - The report maintains a "Strong Buy" rating for Jinhe Industrial, expecting it to outperform the benchmark index by over 20% in the next six months [17]. Core Views - Jinhe Industrial's revenue for the first half of 2025 was 2.444 billion yuan, a year-on-year decrease of 3.73%, while the net profit attributable to shareholders increased by 35.29% to 334 million yuan [1]. - The report highlights improvements in the profitability of sweeteners and growth potential in the semiconductor and synthetic biology sectors [1][7]. - The company is expected to recover from a decline in export volumes of sweeteners, with price increases anticipated due to industry-wide price stabilization efforts [7]. Financial Summary - For 2025, the projected total revenue is 5.484 billion yuan, with a year-on-year growth rate of 3.4% [3]. - The net profit attributable to shareholders is forecasted to be 809 million yuan in 2025, reflecting a significant increase of 45.3% compared to 2024 [3]. - The earnings per share (EPS) is expected to rise from 0.98 yuan in 2024 to 1.42 yuan in 2025 [3]. Segment Analysis - The food additives segment reported revenue of 1.175 billion yuan in the first half of 2025, down 12.12% year-on-year, but with a gross margin increase of 18.10 percentage points to 45.20% [7]. - The basic chemicals segment achieved revenue of 1.055 billion yuan, up 11.31% year-on-year, although the gross margin decreased by 6.82 percentage points to 3.56% [7]. - The report notes a decline in export volumes for sweeteners, particularly sucralose and acesulfame, due to accumulated overseas inventory, but anticipates recovery as inventory levels decrease [7]. Growth Opportunities - Jinhe Industrial has successfully launched an 80,000-ton electronic-grade hydrogen peroxide project and is expanding into various wet electronic chemicals, which is expected to open new growth avenues [7]. - Breakthroughs in the synthesis of high-efficiency steviol glycosides and the successful market introduction of new products are set to enhance the product line in the food additives segment [7].

Group 1 - The core focus of the article is on the importance of technological innovation and industrial transformation in Chuzhou, as emphasized by President Xi Jinping during his visit [1][3] - Chuzhou is actively engaging in strategic initiatives to drive high-quality development through innovation, positioning itself as a key node in the Yangtze River Delta integration [3][5] - The city has implemented over 30 policies to enhance the role of enterprises in technological innovation, resulting in a significant increase in high-tech enterprises and R&D investment [5][7] Group 2 - Chuzhou Jietai New Energy Technology Co., Ltd. has achieved remarkable growth, with a production capacity exceeding 7 million pieces per day and revenue nearing 3.09 billion yuan in the first half of the year [3][5] - The company is collaborating with institutions like the Chinese Academy of Sciences to develop advanced battery technologies, achieving a laboratory efficiency of 32.08%, which is industry-leading [3][5] - The city has a total of 1,567 high-tech enterprises, ranking third in the province, and has seen a rise in potential unicorn companies, indicating a robust innovation ecosystem [5][7] Group 3 - Chuzhou has established a comprehensive innovation ecosystem, focusing on integrating education, industry, and research to enhance the effectiveness of technology transfer [10][11] - The city has attracted over 400 talent teams and established numerous research platforms, facilitating collaboration between academia and industry [10][11] - The local government is promoting various initiatives to support innovation, including funding for technology projects and establishing a favorable environment for talent retention [17][18] Group 4 - The semiconductor industry in Chuzhou has seen significant advancements, with companies like Huari Microelectronics achieving rapid growth and establishing a strong market presence [16][19] - The city is fostering a diverse funding system to stimulate technological innovation, with substantial investments from angel funds and financial institutions [17][18] - Chuzhou's commitment to creating a supportive environment for innovation is evident in its infrastructure and policies aimed at attracting and retaining talent [18][21]

Core Viewpoint - Company maintains a "buy" rating for Jinhe Industrial, highlighting stable growth in performance and steady progress in new projects [1] Financial Performance - In the first half of 2025, Jinhe Industrial reported revenue of 2.444 billion, a year-on-year decrease of 3.73%, while net profit attributable to shareholders was 334 million, reflecting a year-on-year increase of 35.29% [2] Project Developments - Significant breakthroughs in multiple key projects were achieved in the first half of 2025, including the successful trial run and commencement of production for an 80,000-ton electronic-grade hydrogen peroxide project [3] - The company is expanding its product matrix in the semiconductor field, focusing on electronic-grade chemicals such as sodium/potassium hydroxide, sulfuric acid, and ammonia [3] - Construction of a key precursor production facility for a new generation of lithium salt has been completed, marking a significant step in the new energy battery materials sector [3] - The company is advancing a 200,000-ton synthetic ammonia gasification project, which will yield 101,800 tons of liquid ammonia and other by-products upon completion [3] Innovation and Development - The company has made progress in its biosynthesis innovation platform, achieving a production capacity of 1,200 tons per year for high-efficiency steviol glycosides, significantly reducing costs compared to traditional methods [4] - The terpenoid flavor project has successfully launched products like round grapefruit ketone and Valencia orange olefin into the market, establishing stable supply capabilities [4] - The cellulose ethanol pilot project has completed its first phase, achieving stable output of qualified products [4] Profit Forecast and Valuation - The company forecasts net profits of 996 million, 1.112 billion, and 1.413 billion for 2025, 2026, and 2027 respectively, with corresponding EPS of 1.747, 1.951, and 2.478 [5] - Current market capitalization corresponds to P/E ratios of 13.45X, 12.04X, and 9.48X for the years 2025, 2026, and 2027 [5]

Core Insights - The report emphasizes that the chemical industry is entering a new phase of capital expenditure, with a focus on the rebalancing of supply and demand following the release of production capacity during the 14th Five-Year Plan period [2][6] - The report indicates that the bottom of the cycle is becoming clearer, with potential price increases for chemical products driven by demand recovery and supply stability in the second half of the year [2][6] Industry Overview - The current cycle has reached its tail end, with a total of 12 quarters of decline since Q3 2022, following a 7-quarter expansion from Q4 2020 to Q2 2022 [10][12] - The report outlines that the chemical industry has experienced three significant price fluctuation cycles since 2010, with the latest cycle characterized by a demand-driven recovery followed by a supply-side pressure [8][10] Investment Recommendations - The report suggests focusing on sectors with relatively low valuations, such as sucralose (recommended: Jinhe Industrial), pesticides (recommended: Yangnong Chemical, Runfeng Shares), and MDI (recommended: Wanhua Chemical) [3][4] - It highlights the importance of domestic demand in countering tariff impacts, recommending companies in refrigerants and fertilizers [3][4] - The report identifies investment opportunities in sectors with upcoming capacity releases, such as organic silicon (recommended: Xin'an Chemical) and spandex [3][4] Price and Profitability Trends - The report notes that many sub-industry product prices remain at historical lows, with specific prices for spandex, PA6, and other fibers at 0%, 4%, and 5% of historical levels respectively [28] - It mentions that the chemical industry has seen a slight recovery in profitability in Q1 2025, although the overall performance remains under pressure [27][25] Supply and Demand Dynamics - The report indicates that the global chemical capital expenditure is on a downward trend, with domestic companies experiencing a slowdown in investment while still facing significant pressure to convert projects into fixed assets [22][32] - It also states that both domestic and international markets are entering a replenishment phase in 2025, which may influence inventory levels and pricing strategies [35][36]