Investment Rating - The report maintains a "Buy" rating for companies involved in palm oil and biodiesel sectors, highlighting potential price increases in these markets [4]. Core Insights - Palm oil futures prices have reached a new high for the year, with a closing price of 9,490 CNY/ton on August 13, 2025, marking a 13.06% increase since July 1, 2025 [1]. - Indonesia's plan to implement a B50 blending mandate for biodiesel is expected to significantly boost palm oil demand, potentially increasing annual consumption by up to 19 million kiloliters [2]. - The U.S. is projected to increase biodiesel blending by 67% in 2026, which may create a ripple effect in the global oilseed market, influencing prices across various vegetable oils [3]. Summary by Sections Palm Oil Market - The DCE palm oil futures price has surpassed 9,400 CNY/ton, indicating strong market performance [1]. - Indonesia's B50 plan could lead to a substantial increase in domestic palm oil consumption, reflecting government commitment to enhancing local usage [2]. Biodiesel Sector - The U.S. EPA's proposed rule for 2026 aims to raise biodiesel blending to 5.61 billion gallons, a 67% increase from the current year, which is expected to impact the overall vegetable oil market positively [3]. Investment Recommendations - The report suggests focusing on companies like Zanyu Technology, which benefits from stable raw material prices in Indonesia, and other players in the biodiesel supply chain such as Shanggou Environmental Energy and Jiaao Environmental Protection [4][5].

Core Viewpoint - Zanyu Technology has successfully upgraded its WindESG rating from BB to A, reflecting significant progress in environmental, social, and governance (ESG) aspects, and ranking 20th among 173 peers in the industry [1] Group 1: ESG Rating and Performance - The upgrade in ESG rating indicates Zanyu Technology's strong commitment to sustainable development and effective ESG management [1] - The company scored above the industry average in all three ESG dimensions: Environmental (E), Social (S), and Governance (G) [1] Group 2: Environmental Initiatives - Zanyu Technology integrates green development principles throughout its operations, utilizing advanced production processes and environmental technologies [2] - The company has implemented several clean production projects, such as utilizing waste heat from stearic acid distillation and upgrading organic waste gas treatment systems, effectively reducing pollution and energy costs [2] - Zanyu Technology has achieved multiple certifications, including quality, environmental, occupational health and safety, and EU cosmetic GMP certification, showcasing its excellence in green manufacturing [2] Group 3: Social Responsibility - The company emphasizes employee care by providing a good working environment, comprehensive benefits, and career development opportunities [3] - Zanyu Technology actively engages in community service and social responsibility initiatives, including poverty alleviation efforts [3] - The company maintains a rigorous supplier selection process to ensure sustainability across its supply chain [3] Group 4: Governance Structure - Zanyu Technology continuously improves its governance framework, focusing on investor relations and shareholder rights protection [3] - The company strengthens its internal control and risk management systems to support sustainable development [3] Group 5: Future Outlook - Zanyu Technology aims to deepen its ESG practices and enhance its sustainable development capabilities, leveraging its R&D strength and optimized ESG management system for broader market opportunities [4]

Group 1 - The company, Zanyu Technology, is a leading enterprise in the surfactant industry, focusing on strengthening its core business through technological upgrades and product innovation [2] - The company aims to enhance its core competitiveness and promote high-quality development in the industry, avoiding low-price and disorderly competition that leads to "involution" [2]

赞宇科技（002637.SZ）8月11日在投资者互动平台表示，公司按照深交所相关规定进行信息披露工作。 根据2024年年报，公司2024年表面活性剂（AES/AOS/LAS等）产能利用率为74.93%，油脂化学品（硬 脂酸、氢化油、单甘脂、油酸等）产能利用率为90.29%，二季度业绩及最新开工率情况请关注公司相 关公告。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：一季度利润增长60％现在未预告，请问是不是二季度 利润不佳。另外企业开工率情况如何？ ...

Core Viewpoint - Zanyu Technology Group Co., Ltd. has approved a share repurchase plan to utilize its own funds or bank loans for the purpose of implementing equity incentives or employee stock ownership plans [2] Group 1: Share Repurchase Plan - The company plans to repurchase its A-shares at a price not exceeding RMB 13.99 per share, which will be adjusted to RMB 13.87 per share after the 2024 annual equity distribution [2] - The total amount for the share repurchase is set to be no less than RMB 100 million and no more than RMB 200 million, with the final amount determined by the actual funds used at the end of the repurchase [2] - The repurchase period is set for 12 months from the date of the board's approval of the plan [2] Group 2: Repurchase Progress - As of July 31, 2025, the company has repurchased a total of 2.0495 million shares, accounting for 0.44% of the total shares, with a maximum transaction price of RMB 9.70 per share and a minimum of RMB 8.09 per share [3] - The total transaction amount for the repurchased shares is in accordance with the established repurchase plan and relevant regulations [3] - The repurchase activities comply with the regulations set forth by the Shenzhen Stock Exchange and the China Securities Regulatory Commission [3] Group 3: Future Implementation - The company will continue to implement the repurchase plan based on market conditions and will fulfill its information disclosure obligations in accordance with relevant laws and regulations [4]

Group 1 - The core point of the article is that Zanyu Technology announced the repurchase of shares, totaling 2.0495 million shares, which represents 0.44% of the company's total shares [2] Group 2 - The share repurchase was conducted through a dedicated securities account via centralized bidding [2] - The announcement was made on the evening of August 1 [2] - The repurchase is set to be completed by July 31, 2025 [2]

证券代码：002637 证券简称：赞宇科技 公告编号： 2025-033 赞宇科技集团股份有限公司 关于回购进展的公告 本公司及董事会全体人员保证公告内容真实、准确和完整，并对公告中的虚 假记载、误导性陈述或者重大遗漏承担责任。 赞宇科技集团股份有限公司（以下简称"公司"）于2024年11月19日召开第六 届董事会第十八次会议，审议通过了《关于回购股份的方案》，公司拟使用自有 资金或银行专项贷款资金以集中竞价交易方式回购部分公司已在境内发行的人 民币普通股（A股）股票，用于后期实施股权激励或员工持股计划。原定本次回 购股份价格不超过13.99元/股（含），2024年年度权益分派实施后调整股份回购 价格上限为13.87元/股（含）（详见2025-030公告），本次回购股份的资金总额 为不低于人民币10,000万元（含）且不超过人民币20,000万元（含），具体回购 资金总额以回购结束时实际回购使用的资金总额为准。公司本次回购股份的期限 自董事会审议通过本次回购股份方案之日起12个月内。具体内容详见公司在《证 券时报》和巨潮资讯网（www.cninfo.com.cn）上披露的《关于回购公司股份方 案暨取得金融机构 ...

Summary of Key Points Core Viewpoint - Zanyu Technology (002637.SZ) announced a share buyback program, indicating a commitment to enhancing shareholder value through strategic capital allocation [1] Company Actions - As of July 31, 2025, the company has repurchased a total of 2.0495 million shares, which represents 0.44% of the total shares outstanding [1] - The highest transaction price during the buyback was RMB 9.70 per share, while the lowest was RMB 8.09 per share [1] - The total amount spent on the share repurchase reached RMB 18.58535 million, excluding transaction fees [1]

Summary of Zanyu Technology Conference Call Company Overview - **Company**: Zanyu Technology - **Industry**: Palm Oil and Surfactants Key Points Industry and Market Dynamics - Zanyu Technology benefits from Indonesia's palm oil tariff policy, reducing raw material costs through local procurement and processing, enhancing profitability [2][4] - Palm oil prices are closely linked to the company's performance, with historical data showing a direct correlation between the two [6] - Global palm oil supply has stabilized since 2018 due to slowed planting area growth and declining yields from aging trees, with expectations for stable supply over the next three years [2][11] - Demand for palm oil is primarily driven by food consumption and industrial uses, with biodiesel demand growing, particularly in Indonesia [2][12] Financial Performance and Projections - The company's Duku Da project is undergoing capacity expansion from 600,000 tons to 1,100,000 tons, expected to significantly enhance profitability starting in Q3 [2][15] - The surfactant business has a capacity of 1,200,000 tons, with a focus on improving operating rates to recover margins after initial low utilization [2][16] - The company anticipates overall earnings of approximately 400 million yuan in 2025, with projections exceeding 500 million yuan in 2026 and 600 million yuan in 2027, based on conservative estimates [20] Pricing and Cost Factors - Palm oil prices exhibit seasonal fluctuations, typically higher during the reduction season and lower during the production season, with a gradual upward trend in price floors [14] - The company's profitability is expected to improve as palm oil prices rise, with estimates suggesting a potential profit of 900-1,000 yuan per ton in 2025 [15] Competitive Position and Strategic Initiatives - The Duku Da project is positioned to enhance market competitiveness and profitability, with optimistic recovery prospects for gross margins as operational efficiency improves [5][18] - The surfactant business is expanding its client base, including major brands like Blue Moon and Procter & Gamble, while focusing on cost-saving measures through local production [16] Risks and Considerations - The palm oil market faces potential risks from environmental regulations and land use policies in Indonesia, which could impact future supply growth [9][10] - The company’s valuation is currently considered low, presenting potential investment opportunities as production ramps up and seasonal price increases occur [21] Conclusion - Zanyu Technology is well-positioned to capitalize on favorable market conditions in the palm oil sector, with strategic expansions and a focus on improving operational efficiencies expected to drive future growth and profitability [17][19]

Investment Rating - Industry Rating: Neutral (maintained rating) [6] Core Viewpoints - The report highlights the recent price increases in key chemical products such as soda ash, organic silicon, and MDI, driven by strong demand and supply constraints [1][3] - The basic chemical sector outperformed the Shanghai and Shenzhen 300 index, with a weekly increase of 4.25% compared to 1.69% for the index, indicating a positive market sentiment [4][16] - The report suggests that the industry may be at a cyclical bottom, with a focus on supply-demand marginal changes [5] Summary by Sections Key News Tracking - The National Development and Reform Commission issued a revised method for energy consumption and carbon emission management for fixed asset investment projects, which is expected to enhance energy efficiency reviews [1][13] Product Price Monitoring - Key chemical products saw significant price changes, with organic silicon and TDI prices increasing by 11.6% and 6.8% respectively, while DMF and acetic acid prices decreased by 5.7% and 1.3% [2][26] - The report notes that 85 out of 345 tracked chemical products experienced price increases, while 79 saw declines [26] Sector Performance - The basic chemical sector's weekly performance was strong, with notable increases in synthetic resin (+21.94%), soda ash (+14.45%), and organic silicon (+9.01%) [4][18] - The report lists the top-performing stocks in the basic chemical sector, with significant gains for companies like Shangwei New Materials (+97.37%) and Henghe Precision (+64.42%) [21] Investment Insights - The report recommends focusing on sectors with stable demand and potential for recovery, such as organic silicon and amino acids, while also highlighting companies that may benefit from domestic demand [5][6] - It emphasizes the importance of supply-side reforms and cost factors in pricing strategies to mitigate market volatility [5]