Group 1 - Shandong Heda's stock increased by 5.07% to 20.10 CNY per share, with a trading volume of 234 million CNY and a turnover rate of 3.66%, resulting in a total market capitalization of 7.012 billion CNY [1] - The company, established on December 7, 1992, and listed on August 26, 2016, specializes in the research, production, and sales of water-soluble polymer compounds and downstream chemical products [1] - The revenue composition of Shandong Heda includes 72.98% from self-produced cellulose ether products, 21.10% from plant hollow capsules, 3.86% from other chemical products, 1.90% from graphite products, and 0.16% from other sources [1] Group 2 - E Fund's health-themed mixed fund (001898) holds 1.2881 million shares of Shandong Heda, accounting for 4.86% of the fund's net value, making it the eighth largest holding [2] - The fund has generated a floating profit of approximately 1.2495 million CNY today [2] - E Fund's health-themed mixed fund was established on September 27, 2017, with a current size of 393 million CNY, yielding 5.46% year-to-date and 29.73% over the past year [2] Group 3 - The fund manager of E Fund's health-themed mixed fund is Xu Zheng, who has been in the position for 2 years and 356 days [3] - The total asset size of the fund is 3.364 billion CNY, with the best return during Xu Zheng's tenure being 23.07% and the worst being 0.69% [3]

Investment Rating - The report maintains an "Outperform" rating for the pharmaceutical excipients industry, indicating a positive outlook compared to the broader market [4]. Core Insights - The pharmaceutical excipients industry is undergoing an upgrade, with increasing specialization and scale as the regulatory framework and standards improve. The industry is expected to mature gradually [6][30]. - The implementation of the 2025 edition of the Chinese Pharmacopoeia, effective from October 1, 2025, introduces 52 new standards for pharmaceutical excipients, a 15.5% increase from the 2020 edition, totaling 387 standards. This is anticipated to enhance product quality and competitiveness in international markets, facilitating import substitution [6][28]. - The report highlights the strong performance of leading companies in the sector, such as Shanhe Pharmaceutical Excipients, which is positioned well to support pharmaceutical companies amid international changes. The company has shown steady growth and impressive export performance [6][30]. Summary by Sections 1. Importance of Pharmaceutical Excipients - Pharmaceutical excipients are essential components in drug production, influencing drug efficacy and manufacturing processes. They account for approximately 70% of the entire drug formulation [14][23]. 2. Development of the Pharmaceutical Excipients Industry - The industry is experiencing high-quality development, driven by improved regulatory environments and growing domestic demand. The market is expected to expand significantly, with a focus on high-end excipients and new formulations [30][31]. - The report notes that the domestic pharmaceutical excipients market is projected to reach approximately 48.28 billion yuan in 2024, with solid dosage form excipients accounting for about 33.8 billion yuan [32]. 3. Key Companies to Watch - Shanhe Pharmaceutical Excipients is highlighted as a leading player in the solid dosage excipients sector, with a robust product matrix and core technological advantages [6][30]. - Shandong Heda, a key player in the plant capsule market, is also recommended for investment due to its growth potential driven by the expanding health supplement market [2][6]. 4. Market Trends and Projections - The global health supplement market is expected to grow at a CAGR of approximately 5.4% from 2023 to 2028, potentially reaching nearly 1.4 trillion USD by 2028. The Chinese health supplement market is projected to reach 423.7 billion yuan by 2027 [6][30]. - The plant capsule market is anticipated to grow significantly, with global revenues expected to rise from approximately 1.535 billion USD in 2024 to 2.568 billion USD by 2031, driven by demand in both health supplements and pharmaceutical applications [6][30].

Core Viewpoint - Shandong Heda Group Co., Ltd. has completed the registration of changes in its business license, including changes in registered capital and business scope, as approved by its board and shareholders [1][2]. Group 1: Business Registration Changes - The company held meetings on December 31, 2025, January 21, 2026, and February 6, 2026, to approve the changes in registered capital and business scope, as well as amendments to the Articles of Association [1]. - The company has obtained a new business license from the Zibo Administrative Approval Service Bureau, confirming the completion of the registration changes [1]. Group 2: Company Information - The registered capital of Shandong Heda Group is 348,515,513 yuan [2]. - The company was established on December 7, 1992, and is located at 999 Heda Road, Zhoucun District, Zibo City, Shandong Province [2]. - The business scope includes the sale and production of specialized chemical products, biobased materials, food additives, and various technology research and development activities [2].

Investment Rating - The industry rating is "Overweight" [3] Core Insights - The report highlights the ongoing active research in life sciences and the rapid integration of biotechnology into economic and social development, providing innovative solutions to major challenges such as health, climate change, resource security, and food security. The National Development and Reform Commission has issued the "14th Five-Year Plan for the Development of the Bioeconomy," indicating a trillion-yuan market potential in the bioeconomy sector [3][4]. Industry Performance - The Huazhong Synthetic Biology Index increased by 0.11% to 1278.44 during the week of February 2-6, 2026, outperforming the Shanghai Composite Index by 1.39 percentage points and the ChiNext Index by 3.40 percentage points [4]. - The report notes that the synthetic biology sector is experiencing a policy dividend, with Shenzhen proposing up to 100 million yuan in support for R&D efforts in the field [8]. Company Developments - Beijing Huaguan Bio completed a multi-hundred million yuan C-round financing to enhance its R&D and production capabilities in the pharmaceutical and health sectors [32]. - Dejin Bio secured several million yuan in A-round financing to advance its recombinant botulinum toxin clinical research and international expansion [33]. - The report mentions that Impossible Foods is leveraging technology to reshape the plant protein market [11]. Market Dynamics - The report indicates that the synthetic biology sector is witnessing a surge in financing, with nearly a hundred companies completing new funding rounds since 2025 [31]. - The top five companies in the synthetic biology sector by stock performance during the week were Pingtan Development (+12%), Jinbo Bio (+12%), Huaxi Bio (+12%), Shandong Heda (+10%), and Yaxiang Co. (+10%) [17]. Policy and Regulatory Developments - The Ministry of Industry and Information Technology announced 35 examples of non-grain bio-based materials, marking a significant step towards establishing a new green development framework [7]. - The National Health Commission approved 22 new food items, including a significant breakthrough in domestic human milk oligosaccharides (HMOs) production [7]. Research and Innovation - Tsinghua University has initiated a national key R&D project focused on the intelligent design principles of efficient microbial chassis cells, aiming for breakthroughs in both fundamental theory and application demonstration [9]. - The report highlights the strategic cooperation between Tianjin University and China National Petroleum Corporation to expand efforts in synthetic biology and related fields [9].

Group 1 - The company Shandong Heda has completed the business registration change procedures and obtained a new business license from the Zibo Administrative Approval Service Bureau [2]

债券代码：127088 债券简称：赫达转债 证券代码：002810 证券简称：山东赫达 公告编号：2026-008 本公司及董事会全体成员保证信息披露的内容真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 山东赫达集团股份有限公司（以下简称"公司"）于 2025 年 12 月 31 日召开第九届董事会第三十次会议、2026 年 1 月 21 日召开 2026 年第一次临时股东会，并于 2026 年 1 月 21 日召开第九届董事会第三 十一次会议、2026 年 2 月 6 日召开 2026 年第二次临时股东会，审议 通过了《关于变更注册资本并修订<公司章程>及办理工商变更登记的 议案》及《关于变更经营范围并修订<公司章程>的议案》，同意公司 变更注册资本及经营范围并修订《公司章程》。 公司已于近日办理完成工商变更登记手续，并取得了淄博市行政 审批服务局换发的《营业执照》，具体公告如下： 一、本次工商变更登记的主要事项 | 变更内容 | 变更前 | 变更后 | | --- | --- | --- | | 注册资本 | 叁亿肆仟捌佰壹拾叁万陆仟捌佰 | 叁亿肆仟捌佰伍拾万壹仟伍佰壹拾 | | | 伍拾肆元 ...

证券代码：002810 证券简称：山东赫达 公告编号：2026-007 债券代码：127088 债券简称：赫达转债 山东赫达集团股份有限公司 关于 2026 年第二次临时股东会决议的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 特别提示： 1、本次股东会未出现否决议案的情形。 2、本次股东会没有新议案提交表决。 3、本次股东会无变更以往股东会决议的情况。 一、会议的召开和出席情况 （一）会议的召开情况 1、会议召开时间： （1）现场会议召开时间：2026 年 2 月 6 日（星期五）下午 14:30 2、会议召开地点：山东省淄博市周村区赫达路 999 号公司会议 室。 （2）网络投票时间：2026 年 2 月 6 日（星期五） 其中，通过深圳证券交易所交易系统进行网络投票的具体时间为： 2026 年 2 月 6 日上午 9:15-9:25，9:30-11:30 和下午 13:00-15:00；通过 深圳证券交易所互联网投票系统投票的具体时间为：2026 年 2 月 6 日 9:15-15:00 期间的任意时间。 | 证券代码：002810 | 证券简称 ...

北京市齐致（济南）律师事务所 关于山东赫达集团股份有限公司 2026 年第二次临时股东会的法律意见书 京齐济法意字[2026]第 30202 号 北京市齐致（济南）律师事务所 BEIJING QIZHI （JINAN） LAW FIRM 济南市市中区顺河东街 66 号银座晶都国际 1 号楼 3405 室 邮编：250011 电话：0531-66683939 传真：0531-66683939 北京市齐致（济南）律师事务所 法律意见书 北京市齐致（济南）律师事务所 关于山东赫达集团股份有限公司 2026年第二次临时股东会的法律意见书 北京市齐致（济南）律师事务所 法律意见书 性意见合法、准确，不存在虚假记载、误导性陈述和重大遗漏，并承担相应法律责 任。 本所律师同意将本法律意见书作为贵公司本次股东会公告材料，随同其他会议 文件一并公告，并依据本法律意见书承担相应的责任。 致：山东赫达集团股份有限公司 北京市齐致（济南）律师事务所（以下简称"本所"）接受贵公司的委托，指 派李莹律师、刘福庆律师（以下称"本所律师"）出席了贵公司2026年第二次临时股 东会（以下简称"本次股东会"或"会议"），并根据《中华人民共和国公 ...

Group 1 - The chemical products sector increased by 0.43% on February 4, with Shandong Heda leading the gains [1] - The Shanghai Composite Index closed at 4102.2, up 0.85%, while the Shenzhen Component Index closed at 14156.27, up 0.21% [1] - Shandong Heda's stock price rose by 10.02% to 19.77, with a trading volume of 237,900 shares and a transaction value of 453 million yuan [1] Group 2 - The main funds in the chemical products sector experienced a net outflow of 1.405 billion yuan, while retail investors saw a net inflow of 1.273 billion yuan [2] - The stock performance of various companies showed significant fluctuations, with Wan Feng Co. declining by 9.99% to 28.02 [2] - The trading volume and transaction values varied widely among companies, with Qi Cai Chemical seeing a decline of 4.33% and a trading volume of 459,000 shares [2] Group 3 - Shandong Heda had a net inflow of 123 million yuan from main funds, but saw outflows from retail and speculative funds [3] - Other companies like Qiaoyuan Co. and Fengbei Biological also experienced mixed fund flows, with varying net inflows and outflows [3] - The data indicates a trend of retail investors actively participating in the market despite the overall net outflow from main funds [3]

Industry Investment Rating - The industry investment rating is maintained at "Outperform" [2] Core Insights - The basic chemical industry index closed at 4971.22 points, up 7.29% from the previous week, outperforming the CSI 300 index by 7.91% [16][19] - Among 24 sub-industries, 23 saw price increases, with the leading sectors being other chemical raw materials, textile chemical products, chlor-alkali, coal chemical, and viscose, with weekly increases of 12.94%, 12.92%, 10.93%, 10.50%, and 10.21% respectively [19][21] - The report highlights China's commitment to implementing a dual control system for carbon emissions, aiming for peak carbon emissions before 2030 and carbon neutrality by 2060 [6] Weekly Chemical Market Overview - The basic chemical industry index rose to 4971.22 points, marking a 7.29% increase compared to the previous week, and outperformed the CSI 300 index by 7.91% [16][19] - The report tracked 380 chemical products, with 114 showing price increases and 54 showing decreases [23] - The top ten products with the highest price increases included solid methionine, NYMEX natural gas, and battery-grade lithium carbonate, with increases ranging from 7% to 128% [25] Key Chemical Sub-Industry Tracking Polyester Filament Yarn - The market price for polyester filament yarn increased, with POY averaging 6710 CNY/ton, FDY at 6950 CNY/ton, and DTY at 7850 CNY/ton [27] - The average industry operating rate for polyester filament yarn was approximately 85.27% [28] - The average processing margin for POY was 1189.33 CNY/ton, indicating a profit increase compared to the previous week [29][30] Tire Industry - The operating rate for the all-steel tire industry was 62.53%, while the semi-steel tire industry saw an increase to 73.84% [41] - The average price of styrene-butadiene rubber decreased by 1.53% to 12096.25 CNY/ton [43] - The report noted a decline in export volumes for major tire companies in Southeast Asia [41][42] Refrigerants - The domestic refrigerant R22 market remained stable, with prices holding steady compared to the previous week [49] - Mainstream companies quoted R22 at 15500-18000 CNY/ton, with no significant willingness to lower prices [50]