Group 1 - The core viewpoint of the news highlights the financial performance and market position of Lianhong New Materials Technology Co., Ltd, indicating a decline in stock price and a high PE ratio compared to industry averages [1][2]. - As of the first quarter of 2025, the company reported a revenue of 1.539 billion yuan, representing a year-on-year increase of 3.48%, and a net profit of 71.41 million yuan, with a year-on-year growth of 38.83% [2]. - The company's rolling PE ratio stands at 81.47, significantly higher than the industry average of 45.80 and the median of 40.33, placing it at the 140th position in the industry ranking [1][3]. Group 2 - Lianhong New Materials specializes in advanced polymer materials and fine chemicals, with key products including EVA, VA, UHMWPE, and PLA [2]. - The company has received multiple accolades, including being listed in the "2024 China Brand Value Evaluation Information List" and the "2024 Top 100 New Materials Companies in China" [2]. - As of the first quarter of 2025, the total market capitalization of Lianhong New Materials is 20.728 billion yuan, with institutional holdings amounting to 1.0759514 billion shares valued at 16.193 billion yuan [1][2].

Core Viewpoint - The acetic acid ethyl ester (EA) industry in China is experiencing a significant recovery in production capacity and output in 2024, driven by new installations and increasing export demand, despite previous challenges related to overcapacity and environmental regulations [1][4][10]. Industry Overview - Acetic acid ethyl ester is a widely used fine chemical product and an important organic solvent, primarily consumed in the coatings, pharmaceuticals, and adhesives sectors, which together account for over 80% of its downstream consumption [2][4]. - The industry has seen a production capacity increase to 4.3 million tons in 2024, representing a year-on-year growth of 21.1% [4][20]. Production Side - The production of acetic acid ethyl ester in China began in the 1970s, with significant growth in capacity observed in the 21st century, reaching 3.53 million tons by 2013 [4]. - In 2024, the total production volume is expected to reach 2.4 million tons, marking a 16.05% increase from the previous year, with the industry capacity utilization rate remaining above 50% for three consecutive years [4][10]. Import and Export - China has achieved self-sufficiency in acetic acid ethyl ester, with imports remaining below 0.15 million tons. However, exports are on the rise, projected to exceed 500,000 tons in 2024, reflecting a 19.3% increase [8][21]. - The average export price has been declining, with a 10.03% drop expected in 2024, indicating intensified competition in international markets [8][12]. Consumption Side - The demand for acetic acid ethyl ester has been weak in traditional sectors like coatings and adhesives due to adjustments in the real estate market, leading to a supply-demand imbalance [10][12]. - The apparent consumption volume is projected to reach 188,450 tons in 2024, showing a year-on-year growth of 15.19% as exports expand [10][12]. Competitive Landscape - The acetic acid ethyl ester market in China is characterized by intense competition among both international chemical giants and domestic companies such as Hualu Hengsheng, Jiangsu Sopo, and others [14][16]. - The market concentration is decreasing, with the CR3 dropping from 43.7% in 2023 to 38.4% in 2024, indicating a more fragmented competitive environment [20]. Development Trends 1. **Capacity Expansion and Increased Competition**: The industry is set to add 480,000 tons of new capacity in 2025, intensifying market competition and pressuring smaller firms [20]. 2. **Export Market as Growth Engine**: The export volume is expected to continue rising, particularly in Southeast Asia, driven by domestic capacity release and cost advantages [21]. 3. **Optimizing Downstream Demand Structure**: The demand for acetic acid ethyl ester is shifting towards high-end applications in coatings and pharmaceuticals, while traditional sectors face slower growth [22]. 4. **Accelerated Green and Smart Transformation**: The industry is moving towards greener and smarter production methods, including the use of new catalysts and biotechnological processes [23].

证券代码：003022 证券简称：联泓新科 公告编号：2025-024 联泓新材料科技股份有限公司 关于公司股东部分股份质押续期的公告 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。 联泓新材料科技股份有限公司（以下简称"公司"）于近日收到控股股东联 泓集团有限公司（以下简称"联泓集团"）的通知，获悉联泓集团将其持有的公 司部分股份办理了质押续期手续，具体情况如下： 一、股东股份质押续期基本情况 | | | | | | 是 | 否 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 是否为 | | | | | | 是 | | | | | | | | | | | | 为 | 限 | | | | | | | | | 控股股 | | 占其 | 占公 | | | 否 | | | | | | | 股 | | | | | 售 | 股 | | | | | | | | | 东或第 | 本次质押 | 所持 | 司总 | | | 为 | ...

证券代码：003022 证券简称：联泓新科 公告编号：2025-025 联泓新材料科技股份有限公司 关于为控股子公司提供担保的进展公告 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。 一、担保概述 为进一步落实公司创新驱动发展战略，深化新材料产业投资布局，满足子公 司项目建设需要，联泓新材料科技股份有限公司（以下简称"公司"）于 2024 年 3 月 26 日召开第二届董事会第十九次会议，于 2024 年 4 月 16 日召开 2023 年年 度股东大会，审议通过《关于为控股子公司投资建设热塑性聚乙烯弹性体项目提 供担保的议案》，同意为控股子公司联泓惠生（江苏）新材料有限公司（以下简 称"联泓惠生"）向金融机构申请综合授信提供不超过人民币 9.1 亿元的担保。 上述事项的具体内容详见公司在指定信息披露媒体及巨潮资讯网 （www.cninfo.com.cn）披露的《关于为控股子公司投资建设 POE 项目提供担保 的公告》及相关公告。 二、担保进展情况 近日，公司与中国工商银行股份有限公司滕州支行、中国工商银行股份有限 公司泰兴支行、中国银行股份有限公司泰兴支行、 ...

Group 1: Event Overview - The investor relations activity was an earnings briefing held on June 9, 2025, from 15:00 to 17:00 [2] - The event took place on the "Investor Relations Interactive Platform" of Panorama Network [2] Group 2: Participants - The meeting was attended by key company executives including Chairman and President Mr. Zheng Yueming, CFO and Board Secretary Mr. Cai Wenquan, and Independent Director Mr. Wang Guoliang [2] Group 3: Purpose and Content - The earnings briefing aimed to provide investors with a comprehensive understanding of the company's operations, development strategy, industry layout, project construction, R&D innovation, and market dynamics [2] - Detailed content from the earnings briefing can be accessed through the Panorama Network's investor relations platform [2]

证券代码：003022 证券简称：联泓新科 公告编号：2025-023 联泓新材料科技股份有限公司 关于举办 2024 年度网上业绩说明会的公告 联泓新材料科技股份有限公司 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。 董事会 为便于广大投资者更深入、全面地了解公司生产经营情况和发展战略，联泓 新材料科技股份有限公司（以下简称"公司"）定于 2025 年 6 月 9 日（星期一） 15:00-17:00 在全景网举办 2024 年度业绩说明会。本次业绩说明会将采用远程网 络方式举行，投资者可登录全景网"投资者关系互动平台"（http://ir.p5w.net）参 与本次业绩说明会。 2025 年 6 月 7 日 （问题征集专题页面二维码） 出席本次业绩说明会的人员有：公司董事长、总裁郑月明先生，董事、高级 副总裁、CFO、董事会秘书蔡文权先生，独立董事王国良先生。 为提高本次业绩说明会交流效率，公司现提前向投资者征集相关问题，欢迎 投资者于 2025 年 6 月 9 日（星期一）12:00 前访问网址 https://ir.p5w.net/zj/，或 扫描下 ...

Industry Overview - Ethylene-vinyl acetate copolymer (EVA) is the fourth largest ethylene series polymer, produced through the copolymerization of ethylene and vinyl acetate [2][6] - China's EVA production capacity has grown significantly, from 972,000 tons in 2017 to 2.91 million tons in 2024, with a compound annual growth rate (CAGR) exceeding 30% from 2020 to 2024 [6][8] - The production process in China primarily utilizes tubular and kettle methods, with tubular method accounting for over 65% of production capacity in 2024 [4][6] Production and Demand Trends - China's EVA production has increased from 756,000 tons in 2019 to 2.3835 million tons in 2024, achieving a CAGR of 33.25% [8][10] - However, the growth rate is expected to slow down, with a year-on-year increase of only 10.68% in 2024 due to a slowdown in downstream demand [8][10] - Despite the increase in domestic production, China still relies on imports, with EVA imports decreasing by 34.22% to 915,600 tons in 2024, reflecting improved domestic supply capabilities [10][11] Competitive Landscape - The EVA industry in China is characterized by a "four strong" competitive landscape, with companies like Oriental Rainbow, Zhejiang Petrochemical, Gulei Petrochemical, and Yulin Energy Coal holding significant market shares [13] - In 2024, Oriental Rainbow became the first company to exceed 500,000 tons in production capacity, significantly outpacing its competitors [13][19] Future Outlook - The EVA industry is expected to continue its capacity expansion cycle, with planned capacities exceeding 4 million tons from 2025 to 2028 [11][19] - The industry is likely to transition from a net importer to a net exporter, enhancing China's competitiveness in high-end polymer materials [11][20] - The demand for EVA is expanding into new fields such as photovoltaics and medical applications, with photovoltaic film demand exceeding 50% of total EVA demand [21][20]

Company Overview - Lianhong New Materials Technology Co., Ltd. specializes in the research, production, and sales of advanced polymer materials and specialty fine materials [2] - The main products include EVA, VA, UHMWPE, PLA, electronic specialty gases, PP, EO, EOD, and EC [2] Financial Performance - For Q1 2025, the company reported revenue of 1.539 billion yuan, a year-on-year increase of 3.48% [2] - The net profit for the same period was 71.41 million yuan, reflecting a year-on-year growth of 38.83% [2] - The sales gross margin stood at 18.77% [2] Market Position - As of May 26, the company's stock closed at 15.26 yuan, with a PE ratio of 80.11, marking a 14-day low [1] - The total market capitalization is 20.381 billion yuan [1] - In the chemical products industry, the average PE ratio is 43.15, and the median is 38.76, positioning Lianhong New Materials at rank 139 [1][3] Institutional Holdings - As of Q1 2025, there are 10 institutions holding shares in Lianhong New Materials, including 6 other institutions, 3 funds, and 1 QFII, with a total holding of 1.0759514 billion shares valued at 16.193 billion yuan [1]

证券代码：003022 证券简称：联泓新科 公告编号：2025-022 联泓新材料科技股份有限公司 关于为控股子公司提供担保的进展公告 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。 一、担保概述 为进一步落实公司创新驱动发展战略，深化电子材料领域的产业布局，满足 子公司经营发展需要，联泓新材料科技股份有限公司（以下简称"公司"）于 2025 年 3 月 26 日召开第三届董事会第四次会议，审议通过《关于为控股子公司山东 华宇同方电子材料有限公司提供担保的议案》，同意公司为山东华宇同方电子材 料有限公司（以下简称"华宇同方"）向金融机构申请综合授信提供不超过 5 亿 元的担保。 上述事项的具体内容详见公司在指定信息披露媒体及巨潮资讯网 （www.cninfo.com.cn）披露的《关于为控股子公司提供担保的公告》及相关公告。 二、担保进展情况 近日，公司与中国银行股份有限公司汶上支行签订了《保证合同》，约定公 司为华宇同方在该银行办理的人民币 2 亿元贷款业务提供连带责任保证，保证期 间为借款合同约定的债务履行期限届满之日起三年。 担保方 被担保方 担保方 持 ...

Company Overview - Lianhong New Materials Technology Co., Ltd. specializes in the research, production, and sales of advanced polymer materials and specialty fine materials [2] - The main products include EVA, VA, UHMWPE, PLA, electronic specialty gases, PP, EO, EOD, and EC [2] Financial Performance - For Q1 2025, the company reported a revenue of 1.539 billion yuan, representing a year-on-year increase of 3.48% [2] - The net profit for the same period was 71.4072 million yuan, showing a year-on-year growth of 38.83% [2] - The sales gross margin stood at 18.77% [2] Market Position - As of May 15, the company's stock closed at 14.99 yuan, down 1.12%, with a rolling PE ratio of 78.69 times [1] - The total market capitalization is 20.02 billion yuan [1] - In comparison to the chemical products industry, which has an average PE ratio of 44.63 times and a median of 39.73 times, Lianhong ranks 137th [1][3] Shareholder Information - As of March 31, 2025, the number of shareholders is 59,101, a decrease of 2,090 from the previous count [1] - The average market value of shares held per shareholder is 352,800 yuan, with an average holding of 27,600 shares [1] Industry Recognition - The company has received multiple accolades, including being listed in the "2024 China Brand Value Evaluation Information List" and the "2024 Hu Run China New Materials Top 100" [2] - It has also been recognized as a "Shandong Province Manufacturing Industry Single Champion Enterprise" and received an A grade in the Shenzhen Stock Exchange's 2023-2024 annual information disclosure evaluation [2]