Core Viewpoint - Zhejiang Zhongxin Fluorine Materials Co., Ltd. has received approval from the China Securities Regulatory Commission (CSRC) for a simplified procedure to issue stocks to specific investors for the year 2025, indicating a strategic move to raise capital for future growth [1]. Group 1: Stock Performance - As of February 5, 2026, Zhongxin Fluorine Materials' stock closed at 22.24 yuan, down 1.85% from the previous trading day, with a total market capitalization of 7.238 billion yuan [1]. - The stock opened at 22.55 yuan, reached a high of 22.65 yuan, and a low of 22.16 yuan, with a trading volume of 1.04 million yuan and a turnover rate of 1.61% [1]. Group 2: Regulatory Approval - The company received the CSRC's approval on February 4, 2026, for its application to issue stocks to specific investors, as documented in the approval notice (Zheng Jian Xu Ke [2026] No. 199) [1]. - The company is required to strictly follow the submitted documents and issuance plan to the Shenzhen Stock Exchange and must complete the issuance payment within ten working days after the approval [1]. - In case of significant events, the company must promptly report to the Shenzhen Stock Exchange and handle matters according to regulations [1].

Core Viewpoint - The company, Zhongxin Fluorine Materials, has received approval from the China Securities Regulatory Commission for its application to issue stocks to specific investors [1] Group 1 - The approval was granted on February 4, 2026, indicating a significant step in the company's capital-raising efforts [1] - The stock issuance is targeted at specific investors, which may suggest a strategic approach to funding [1]

智通财经APP讯，中欣氟材(002915.SZ)公告，公司于2026年2月4日收到中国证券监督管理委员会出具的 《关于同意浙江中欣氟材股份有限公司向特定对象发行股票注册的批复》，同意公司向特定对象发行股 票的注册申请。 ...

证券代码：002915 证券简称：中欣氟材 公告编号：2026-004 浙江中欣氟材股份有限公司 关于2025年度以简易程序向特定对象发行股票申请获得 公司董事会将根据上述文件和相关法律法规的要求及公司股东会的授权，在 规定期限内办理本次向特定对象发行股票相关事宜，并及时履行信息披露义务。 敬请广大投资者注意投资风险。 本次以简易程序向特定对象发行股票的发行人和保荐机构（主承销商）的联 系方式如下： 一、发行人：浙江中欣氟材股份有限公司 联系部门：董事会办公室 中国证券监督管理委员会同意注册批复的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 浙江中欣氟材股份有限公司（以下简称"公司"）于 2026 年 2 月 4 日收到 中国证券监督管理委员会出具的《关于同意浙江中欣氟材股份有限公司向特定对 象发行股票注册的批复》（证监许可〔2026〕199 号），批复的主要内容如下： 一、同意你公司向特定对象发行股票的注册申请。 二、你公司本次发行应严格按照报送深圳证券交易所的申报文件和发行方案 实施。 三、你公司应当在本批复作出十个工作日内完成发行缴款。 四、自同 ...

浙江中欣氟材股份有限公司 Zhejiang Zhongxin Fluoride Materials Co.,Ltd. （住所：浙江省绍兴市上虞区杭州湾上虞经济技术开发区十三路 5 号） 2025 年度以简易程序向特定对象发行股票 募集说明书 （注册稿） 股票简称：中欣氟材 股票代码：002915 保荐人（主承销商） （北京市朝阳区建国路 81 号华贸中心德意志银行大厦 22 层） 二零二六年二月 浙江中欣氟材股份有限公司 募集说明书（注册稿） 发行人声明 1、公司及董事会全体成员承诺本募集说明书内容真实、准确、完整，确认 不存在虚假记载、误导性陈述或重大遗漏，按照诚信原则履行承诺，并承担相应 的法律责任。 2、本募集说明书按照《上市公司证券发行注册管理办法》《公开发行证券 的公司信息披露内容与格式准则第 61 号——上市公司向特定对象发行证券募集 说明书和发行情况报告书》等要求编制。 3、本次以简易程序向特定对象发行股票完成后，公司经营与收益的变化， 由公司自行负责；因本次以简易程序向特定对象发行股票引致的投资风险，由投 资者自行负责。 1-1-1 浙江中欣氟材股份有限公司 募集说明书（注册稿） 重大事项提示 ...

Core Viewpoint - The company is expected to turn a profit in 2025, with a projected net profit of 16-20 million yuan, compared to previous losses [4] Group 1: Company Performance - In 2025, the company anticipates a significant recovery in the agricultural pesticide sector, leading to improved performance due to the effective digestion of high inventory levels [5] - The subsidiary Fujian Gaobao has significantly reduced its losses, with a projected net profit loss of approximately -68.98 million yuan in 2024 [5] - The company has implemented technological upgrades to reduce material and energy consumption, optimizing production efficiency and adjusting product structures, resulting in a double-digit revenue growth year-on-year for 2025 [5] Group 2: Capital Raising and Expansion Plans - The company plans to raise 186 million yuan through a private placement to fund the construction of new projects, including an annual production capacity of 2,000 tons of BPEF and 500 tons of BPF [6] - The total investment for the BPEF and BPF projects is estimated at 194 million yuan, with 134 million yuan coming from the raised funds [6] - The expansion aims to meet the rapid growth in downstream product demand and ensure raw material supply for the new production lines [6]

Market Overview - The secondary market prices of publicly listed REITs in China showed a fluctuating upward trend in January 2026, with the CSI REITs closing at 809.56 and the CSI REITs total return index at 1052.42, yielding returns of 3.98% and 4.22% respectively [1] - Compared to other major asset classes, the return rates ranked as follows: Gold > Crude Oil > Convertible Bonds > A-shares > REITs > US Stocks > Pure Bonds [1] Industry Research - SpaceX plans to deploy one million computing satellites, expanding the commercial space demand [2] - The ability to manufacture and launch reusable rockets is fundamental for large-scale constellation construction [2] - Laser communication networks are key for achieving large-scale inter-satellite communication [2] - Recommended companies in the rocket sector include Superjet, Highhua Technology, and Zhongheng Design; in the satellite sector, focus on Shaanxi Huada, Shanghai Port, Shanghai Huanxun, Zhenlei Technology, Changguang Huaxin, Aerospace Electronics, Jiayuan Technology, and Shanghai Huguang [2] Company Research - Baihehua (603823.SH) plans to invest in a 1000-ton PEEK project, enhancing its position in the new materials sector [3] - The forecast for Baihehua's net profit for 2025-2027 is adjusted to 173 million (down 22%), 223 million (down 22%), and 270 million yuan, with corresponding EPS of 0.42, 0.54, and 0.65 yuan [3] - Zhongxin Fluorine Materials (002915.SZ) expects to achieve a net profit of 16-20 million yuan in 2025, benefiting from the recovery in pesticide demand and reduced losses from Fujian Gaobao [4] - The projected net profits for Zhongxin Fluorine Materials for 2025-2027 are 18 million, 75 million, and 110 million yuan [4] - Jiu Ri New Materials (688199.SH) anticipates a net profit of 21-31.5 million yuan in 2025, driven by the price recovery of photoinitiators [6] - The projected net profits for Jiu Ri New Materials for 2025-2027 are 31 million, 78 million, and 136 million yuan [6] - Great Wall Motors (601633.SH, 2333.HK) reported a profit forecast for 2025, with net profits adjusted to 9.9 billion, 12.4 billion, and 15.7 billion yuan for 2025-2027 [7] - Apple (AAPL.O) reported record revenue growth in FY1Q26, driven by strong demand for the iPhone 17 series and the continued penetration of AI features [8] - The company maintained a high gross margin despite rising storage costs, showcasing its pricing power and supply chain management capabilities [8] - Aoyou (1717.HK) expects a revenue growth of 1.1% in 2025, with net profits adjusted to 236 million, 262 million, and 280 million yuan for 2025-2027 [9]

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for future performance [4][6]. Core Insights - The company is expected to achieve a net profit attributable to shareholders of between 16 million to 20 million yuan in 2025, marking a turnaround from previous losses [1]. - The recovery in demand for pesticide intermediates has significantly improved the company's performance, particularly through the operational improvements at its subsidiary, Fujian Gaobao, which has reduced its losses substantially [2]. - The company plans to raise 186 million yuan through a private placement to expand its production capacity in the new materials sector, specifically for BPEF and BPF products, which are widely used in various high-tech applications [3]. Summary by Sections Financial Forecasts - The company’s projected net profits for 2025, 2026, and 2027 are 18 million, 75 million, and 110 million yuan respectively, with a notable increase in revenue expected [4][5]. - Revenue is forecasted to grow from 1,576 million yuan in 2025 to 2,129 million yuan by 2027, reflecting a compound annual growth rate [5][9]. Profitability and Valuation Metrics - The gross margin is expected to improve from 15.5% in 2025 to 19.1% in 2027, indicating enhanced operational efficiency [11]. - The company’s price-to-earnings ratio (P/E) is projected to decrease from 410 in 2025 to 67 by 2027, suggesting a more favorable valuation as profitability improves [12]. Operational Developments - The company is enhancing its production capabilities to meet the growing demand in the new materials sector, which is expected to drive future growth [3]. - The operational efficiency improvements and strategic adjustments in product structure and sales strategies are anticipated to contribute to double-digit revenue growth in 2025 [2].

证券日报网讯2月2日，中欣氟材（002915）在互动平台回答投资者提问时表示，截至2026年1月30日公 司股东人数为63300户。 ...

Investment Rating - The investment rating for the chemical raw materials industry is "Positive" (maintained) [1] Core Views - The fluorochemical industry is experiencing a stable price trend for the third-generation refrigerants, with a potential new round of price increases on the horizon. Companies such as Juhua Co., Ltd. and Aohua Technology have announced profit increases for 2025 [4][19] - The industry is entering a long-term prosperity cycle, with significant growth potential across the entire fluorochemical value chain, from raw materials like fluorite to high-end fluorinated materials and fine chemicals [25] Summary by Sections Industry Overview - The fluorite price has stabilized and is expected to gradually recover, with the average market price for 97% wet fluorite at 3,314 CNY/ton as of January 30, 2026, reflecting a 0.15% increase from the previous week [19][20] - The fluorochemical index decreased by 4.98% during the week of January 26 to January 30, 2026, underperforming compared to the Shanghai Composite Index by 4.54% [6][38] Refrigerant Market - As of January 30, 2026, the prices for various refrigerants remained stable, with R32 at 63,000 CNY/ton, R125 at 50,000 CNY/ton, and R134a at 58,000 CNY/ton [21][22] - The refrigerant market is entering a demand off-season, but there is potential for price adjustments as domestic demand increases, especially with low inventory levels and supply constraints [9][24] Company Announcements - Juhua Co., Ltd. expects a net profit of 3.54 to 3.94 billion CNY for 2025, representing a year-on-year increase of 80% to 101%. Aohua Technology anticipates a net profit of 1.38 to 1.48 billion CNY, a growth of 30.96% to 40.44% [10] - Other companies such as Luxi Chemical and ST Lianchuang also forecast significant profit increases for 2025 [10] Recommended Stocks - Recommended stocks include Jinshi Resources, Juhua Co., Ltd., Sanmei Co., Ltd., and Aohua Technology, with other beneficiaries being Dongyangguang, Yonghe Co., Ltd., Dongyue Group, and Xinzhou Bang [11][25]