Group 1 - The core point of the article is that the controlling shareholder of Shilong Industrial (002748.SZ), Jiangxi Dalong Industrial Co., Ltd., plans to reduce its stake in the company by selling up to 7,200,000 shares, which represents 3% of the total share capital [1] - Jiangxi Dianhua Gaoke Co., Ltd., a concerted actor of Dalong Industrial, currently holds 18,400,000 shares, accounting for 7.67% of the company's total share capital [1] - The planned reduction will occur within three months after the announcement, starting 15 trading days from the date of the announcement, through centralized bidding and block trading methods [1]

Group 1 - The core point of the article is that the controlling shareholder of Shilong Industrial, Dalong Industrial, plans to reduce its stake in the company by selling up to 7.2 million shares, which represents 3% of the total share capital [1] Group 2 - The shareholder involved in the reduction is Electric Chemical High-Tech, which holds 7.67% of the company's shares [1] - The reduction will be executed through centralized bidding and block trading methods [1]

证券之星消息，11月17日化学原料板块较上一交易日下跌0.02%，世龙实业领跌。当日上证指数报收于 3972.03，下跌0.46%。深证成指报收于13202.0，下跌0.11%。化学原料板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 000510 | 新金路 | 7.13 | 4.55% | 64.94万 | | 4.62亿 | | 300082 | 奥克股份 | 12.68 | 3.01% | 101.63万 | | 12.57亿 | | 600610 | 中数达 | 12.28 | 2.68% | 60.30万 | | 7.30亿 | | 600929 | 雪天참业 | 6.32 | 2.60% | - 36.07万 | | 2.27亿 | | 920304 | 迪尔化工 | 16.03 | 2.49% | 11.64万 | | 1.83亿 | | 000818 | 航锦科技 | 21.91 | 2.34% | 14.08万 | | 3.07亿 | | ...

Core Viewpoint - The price of chlorosulfonic acid has surged rapidly, with a recent increase of 13.72% to 1765 RMB/ton, marking a cumulative rise of 23.5% in November and over 35% since early August, indicating a significant trend in the electrolyte raw material market [1][3]. Group 1: Price Trends - Chlorosulfonic acid is a key raw material for lithium bis(fluorosulfonyl)imide (LiFSI), which is increasingly seen as a substitute for lithium hexafluorophosphate (LiPF6) due to its superior technical specifications [3]. - The price of lithium hexafluorophosphate has reached 130,000 RMB/ton, diminishing its cost advantage over LiFSI [3]. - The price increase of chlorosulfonic acid is partly driven by a significant rise in sulfur prices, which have exceeded 3500 RMB/ton, with an annual increase of over 130% [3]. Group 2: Stock Market Reactions - On November 13, the A-share lithium battery industry chain saw a broad increase, particularly in stocks related to electrolytes, with companies like Furui Co. experiencing six consecutive trading limits [4]. - Several stocks, including Fuxiang Pharmaceutical, Huasheng Lithium Battery, and Haike New Source, also hit the 20% trading limit [6]. - Chlorosulfonic acid-related stocks such as Sanyou Chemical, Shilong Industrial, and Kaisheng New Materials experienced rapid price increases, with some reaching trading limits [6][9]. Group 3: Company Capacities and Developments - Kaisheng New Materials is a global leader in chlorosulfonic acid production, with an annual capacity of 150,000 tons, holding over 26% of the global market share [9]. - Jinhua Industrial has an existing capacity of 80,000 tons for chlorosulfonic acid, with a project to build an additional 100,000 tons underway [9]. - Sanyou Chemical is progressing on a project to produce 40,000 tons of chlorosulfonic acid, expected to be completed in Q4 of this year [9]. - Companies like Taihe Technology and Yongtai Technology are also expanding their production capacities for lithium bis(fluorosulfonyl)imide, with planned capacities of 20,000 tons and 67,000 tons per year, respectively [10][11].

Market Overview - The chemical raw materials sector increased by 1.61% on November 13, with Kaisheng New Materials leading the gains [1] - The Shanghai Composite Index closed at 4029.5, up 0.73%, while the Shenzhen Component Index closed at 13476.52, up 1.78% [1] Top Performers - Kaisheng New Materials (301069) closed at 29.15, up 10.92% with a trading volume of 628,500 shares [1] - Sanyou Chemical (600409) closed at 6.61, up 9.98% with a trading volume of 1,168,200 shares [1] - Aoke Co., Ltd. (300082) closed at 13.62, up 9.31% with a trading volume of 1,428,400 shares [1] - Hengguang Co., Ltd. (301118) closed at 29.05, up 7.12% with a trading volume of 153,900 shares [1] - Shilong Industry (002748) closed at 14.31, up 7.11% with a trading volume of 641,600 shares [1] Market Capital Flow - The chemical raw materials sector saw a net inflow of 806 million yuan from institutional investors, while retail investors experienced a net outflow of 489 million yuan [2][3] - The top three stocks with significant net inflows from institutional investors include: - Kaisheng New Materials: 1.71 billion yuan [3] - Shilong Industry: 1.62 billion yuan [3] - Sanyou Chemical: 1.53 billion yuan [3] Notable Decliners - ST Yatai (000691) closed at 10.28, down 4.99% with a trading volume of 177,200 shares [2] - Zhenhua Co., Ltd. (603067) closed at 29.42, down 3.70% with a trading volume of 931,500 shares [2] - Sanxiang New Materials (603663) closed at 38.80, down 0.69% with a trading volume of 388,900 shares [2]

Core Insights - SeLong Industrial's stock price increased by 5.39% on November 13, reaching 14.08 CNY per share, with a trading volume of 313 million CNY and a turnover rate of 9.50%, resulting in a total market capitalization of 3.379 billion CNY. The stock has risen for four consecutive days, accumulating a total increase of 9.15% during this period [1] Company Overview - SeLong Industrial Co., Ltd. is located in the Jingdezhen City, Jiangxi Province, and was established on December 2, 2003. The company was listed on March 19, 2015. Its main business involves the research, production, and sales of chemical products, including AC foaming agents, thionyl chloride, and chlor-alkali products [1] - The revenue composition of SeLong Industrial is as follows: AC series products account for 58.76%, chlor-alkali series products 28.73%, thionyl chloride series products 5.40%, intermediates for medicine and pesticides 3.30%, new material additives 3.18%, other products 0.46%, and steam 0.16% [1] Shareholder Insights - Among the top ten circulating shareholders of SeLong Industrial, a fund under CITIC Prudential holds a position. The CITIC Prudential Multi-Strategy Mixed (LOF) A fund (165531) entered the top ten circulating shareholders in the third quarter, holding 956,400 shares, which represents 0.4% of the circulating shares. The estimated floating profit today is approximately 688,600 CNY, with a total floating profit of 1,071,200 CNY during the four-day increase [2] - The CITIC Prudential Multi-Strategy Mixed (LOF) A fund was established on June 16, 2017, with a current scale of 1.133 billion CNY. Year-to-date returns are 47.96%, ranking 1062 out of 8145 in its category; the one-year return is 46.38%, ranking 687 out of 8059; and since inception, the return is 150.54% [2] Fund Holdings - The CITIC Prudential Multi-Strategy Mixed (LOF) A fund (165531) has a significant holding in SeLong Industrial, with 956,400 shares representing 0.46% of the fund's net value, making it the ninth largest holding. The estimated floating profit today is approximately 688,600 CNY, with a total floating profit of 1,071,200 CNY during the four-day increase [3]

Core Viewpoint - SeLong Industrial experienced a stock price increase of 5.38%, reaching 13.33 CNY per share, with a trading volume of 233 million CNY and a turnover rate of 7.73%, resulting in a total market capitalization of 3.199 billion CNY [1] Group 1: Company Overview - SeLong Industrial Co., Ltd. is located in the industrial park of LePing City, Jingdezhen, Jiangxi Province, and was established on December 2, 2003, with its listing date on March 19, 2015 [1] - The company's main business involves the research, production, and sales of chemical products, including AC foaming agents, thionyl chloride, and chlor-alkali products [1] - The revenue composition of the main business includes: AC series products 58.76%, chlor-alkali series products 28.73%, thionyl chloride series products 5.40%, intermediates for medicine and pesticides 3.30%, new material additives 3.18%, other products 0.46%, and steam 0.16% [1] Group 2: Shareholder Information - CITIC Prudential Fund has a fund that ranks among the top ten circulating shareholders of SeLong Industrial, specifically the CITIC Prudential Multi-Strategy Mixed (LOF) A (165531), which newly entered the top ten in the third quarter with 956,400 shares, accounting for 0.4% of circulating shares [2] - The fund has achieved a year-to-date return of 47.6%, ranking 1199 out of 8147 in its category, and a one-year return of 48.2%, ranking 710 out of 8056 [2] - The fund manager, Wang Ying, has been in the position for 8 years and 271 days, with a total fund asset size of 4.904 billion CNY and a best fund return of 55.71% during her tenure [2]

Investment Rating - The report maintains an "Overweight" rating for the basic chemical industry [1][9]. Core Viewpoints - The basic chemical index outperformed the CSI 300 index by 2.93 percentage points, with a weekly increase of 2.50% compared to a decrease of 0.43% for the CSI 300 [3][15]. - Key sub-industries showing significant gains include potassium fertilizer (10.66%), fluorochemicals (7.24%), phosphorus fertilizer and phosphorus chemicals (6.60%), organic silicon (5.85%), and non-metallic materials III (3.75%) [16][19]. - The report highlights a positive trend in the vitamin market, with prices for Vitamin A and E increasing due to proactive price hikes by major producers, leading to heightened market activity [6][9]. Summary by Sections Market Trends - The basic chemical index increased by 2.50% over the past week, outperforming the CSI 300 index [15]. - The top-performing sub-industries included potassium fertilizer, fluorochemicals, and phosphorus chemicals [16]. Chemical Product Price Trends - The top five products with the highest weekly price increases were hydrochloric acid (Shandong) at 57.14%, NYMEX natural gas at 24.85%, concentrated nitric acid at 9.68%, and domestic vitamins E and A at 8.70% and 6.67% respectively [24][28]. - The products with the largest weekly price declines included POM (injection) at -14.06%, international butadiene at -11.64%, and coal tar at -7.29% [24][25]. Investment Recommendations - The report suggests focusing on several key sectors: refrigerants, chemical fibers, tire manufacturing, and agricultural chemicals, with specific companies highlighted for potential investment [9][45]. - Notable companies to watch include Jinshi Resources, Juhua Co., and Wanhu Chemical among others [9][45].

New Stock Issuance - New stock for Beikang Testing (920160) issued at a price of 6.70 on November 3, 2025[1] - New stock for Danna Biology (920009) issued at a price of 17.10 on November 3, 2025[1] Market Alerts - ST Zhongdi (000609) announced significant abnormal fluctuations on October 30, 2025[1] - Jiangbolong (301308) reported severe abnormal fluctuations on October 30, 2025[1] - Xiangnan Chip (300475) disclosed abnormal fluctuations on October 24, 2025[1] - Shangtai Technology (001301) announced abnormal fluctuations on November 3, 2025[1] - Hainan Development (002163) reported abnormal fluctuations on November 3, 2025[1] - Zhongrui Co., Ltd. (002374) disclosed abnormal fluctuations on November 3, 2025[1] - Fujian Jinsen (002679) announced abnormal fluctuations on November 3, 2025[1] - Yongxing Materials (002756) reported abnormal fluctuations on November 3, 2025[1] - Xinhongze (002836) disclosed abnormal fluctuations on November 3, 2025[1] - Guocheng Mining (000688) announced abnormal fluctuations on November 3, 2025[1]

Core Viewpoint - The company, Shilong Industrial, is a leading producer of AC blowing agents in China, with a strong focus on product quality and cost control, and operates across a full industrial chain [1] Group 1: Business Performance - In Q3 2025, Shilong Industrial reported revenue of 1.492 billion yuan, ranking 11th among 14 companies in the industry, with the top company, Zhongtai Chemical, generating 21.246 billion yuan [2] - The revenue breakdown shows that AC series products contributed 598 million yuan (58.76%), chlor-alkali products contributed 293 million yuan (28.73%), and chlorosulfonic acid contributed 55.03 million yuan (5.40%) [2] - The net profit for the same period was 40.427 million yuan, ranking 7th in the industry, with the leading company, Junzheng Group, reporting a net profit of 2.83 billion yuan [2] Group 2: Financial Stability - As of Q3 2025, Shilong Industrial's debt-to-asset ratio was 42.01%, an increase from 41.25% year-on-year, which is lower than the industry average of 49.11%, indicating good debt repayment capability [3] - The company's gross profit margin was 13.44%, up from 12.59% year-on-year, surpassing the industry average of 11.10%, reflecting strong profitability [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 64.34% to 18,200, while the average number of circulating A-shares held per shareholder decreased by 39.15% to 13,200 [5] - Among the top ten circulating shareholders, a new shareholder, CITIC Prudential Multi-Strategy Mixed Fund, entered with 956,400 shares, while the招商量化精选股票发起式A exited the list [5] Group 4: Executive Compensation - The chairman and general manager, Wang Guoqing, saw his salary decrease from 2.6408 million yuan in 2023 to 960,800 yuan in 2024, a reduction of 1.68 million yuan [4]