Group 1 - The Shenzhen Stock Exchange's subsidiary will launch five new thematic indices focused on the ChiNext market, including battery, medical, computing infrastructure, media, and fintech indices on June 27 [1][2] - The ChiNext market has shown significant industrial clustering characteristics in sectors like batteries and healthcare, with listed companies having substantial market capitalizations of 1.8 trillion yuan and 1.0 trillion yuan respectively [1][2] - The new indices will consist of 50 stocks with large market capitalizations and good liquidity, reflecting the diversified and innovative characteristics of the ChiNext market [2] Group 2 - The battery index will include companies involved in core areas of the battery industry, such as production, materials, and manufacturing equipment, featuring leading firms like CATL and EVE Energy [2] - The launch of these indices signifies an enhancement and expansion of investment targets in the "Chuang" series, providing a better platform for investors to capture the benefits of transformation and upgrading [2]

Core Viewpoint - The lithium battery industry is increasingly focusing on overseas expansion as domestic competition intensifies and local market demands rise, with major players like CATL and EVE Energy accelerating their overseas production capacity [1][4]. Group 1: Industry Trends - The enthusiasm for overseas expansion in the lithium battery industry remains high despite ongoing market challenges, with numerous announcements of new factory projects [4]. - By June 2025, Zhongke Electric plans to invest up to 8 billion yuan in Oman for a lithium-ion battery anode materials integrated base with an annual capacity of 200,000 tons [4]. - Tianqi Materials announced an investment in Morocco for a project with an annual output of 150,000 tons of electrolyte products and key raw materials, with an estimated total investment of approximately 280 million USD [4]. - The penetration rate of new energy vehicles in China reached 38.9% in 2024, significantly higher than that of major automotive producing countries, indicating substantial overseas market potential [5]. Group 2: Profitability and Market Dynamics - The overseas market is still in a "blue ocean" phase, characterized by high demand and limited local supply, prompting companies to rapidly establish production bases [5]. - CATL's overseas gross profit margin is projected to be 29.45% in 2024, significantly higher than its domestic margin of 7.2% [5]. - EVE Energy and Guoxuan High-Tech also report higher overseas gross profit margins compared to their domestic operations, indicating a favorable trend for international business [5]. Group 3: Capacity Expansion and Operational Challenges - CATL's first overseas factory in Germany has achieved profitability and serves as a benchmark for the industry, encouraging more companies to pursue international expansion [8]. - EVE Energy's first overseas battery base in Malaysia commenced production in February 2024, while Envision AESC's super factory in France began operations in June 2024 [9]. - Dragon Power Technology's first phase of a lithium iron phosphate production project in Indonesia is set to start production in early 2025, with plans for a second phase already underway [10]. Group 4: Localization and Strategic Considerations - Despite positive signals for overseas expansion, the overall progress remains slow due to higher costs and longer return periods compared to domestic operations [15]. - Companies are increasingly seeking to understand local markets and establish stable customer relationships to support their overseas ventures [15]. - The challenges of local environmental regulations, labor policies, and talent acquisition are significant hurdles for companies establishing overseas operations [16].

Investment Rating - The investment rating for the chemical raw materials industry is "Positive" (maintained) [1] Core Viewpoints - The refrigerant market is experiencing an upward trend, supported by a well-defined business model and ongoing validation of industry logic [4] - The fluorochemical industry is entering a long-term prosperity cycle, with significant growth potential across the entire supply chain, from raw materials like fluorite to high-end fluorinated materials and fine chemicals [20] Summary by Sections 1. Fluorochemical Market Overview - The fluorite market is under pressure, with the average market price for 97% wet fluorite at 3,387 CNY/ton as of June 6, down 3.09% week-on-week and 9.85% year-on-year [6][17] - The market is characterized by weak demand and a surplus of supply, leading to a negative feedback loop that suppresses immediate purchasing needs [17][32] 2. Refrigerant Market Trends - As of June 20, refrigerant prices are on an upward trend: R32 at 52,000 CNY/ton (+0.97% week-on-week), R125 at 45,500 CNY/ton (unchanged), R134a at 48,500 CNY/ton (unchanged), R410a at 48,500 CNY/ton (unchanged), and R22 at 35,000 CNY/ton (-2.78%) [7][18][45] - The external trade market for refrigerants shows stability, with R32 external reference price at 51,000 CNY/ton (unchanged) and R22 at 32,000 CNY/ton (unchanged) [7][18] 3. Beneficiary Companies - Recommended beneficiary companies include Jinshi Resources, Juhua Co., Sanmei Co., and Haohua Technology, with other beneficiaries being Dongyangguang, Yonghe Co., Dongyue Group, and Xinzhou Bang [9][20]

Summary of Key Points from Conference Call Records Industry Overview - **Middle East Conflict Impact**: The escalation of conflict in the Middle East has led to a significant increase in oil and gold prices, with Brent crude oil futures rising by 13% to over $80 per barrel, and spot gold surpassing $3,450 per ounce, marking a historical high [1][2][3]. Core Insights and Arguments - **Oil Price Predictions**: Analysts predict that in extreme scenarios, oil prices could soar to $120-$130 per barrel due to fears of a blockade in the Strait of Hormuz, which accounts for 40% of global oil transport [2][23]. - **Airline Profitability**: A 10% increase in oil prices is expected to reduce profits for major Chinese airlines (Air China, China Southern, China Eastern) by approximately 4 billion RMB each. However, the long-term outlook suggests potential declines in oil prices due to OPEC's unexpected production increases and global economic pressures [4][27]. - **Shipping Market Dynamics**: The increase in geopolitical risks has led to a rebound in VLCC (Very Large Crude Carrier) freight rates, which rose by 23.5% in one day. However, a significant increase in VLCC supply is anticipated in 2026, necessitating close monitoring of geopolitical developments [6][7]. - **Express Delivery Sector**: The price of express delivery services in Yiwu has risen again, indicating regulatory concerns about market health. Companies are accelerating the adoption of unmanned vehicles to reduce costs, with recommendations for SF Express and other major players [8]. - **Chemical Products Price Index**: The Chemical Products Price Index (CCPI) saw a slight increase of 0.5%, lagging behind oil price increases due to seasonal demand weakness and inventory buffers. The ongoing conflict may further impact chemical prices, particularly methanol and ethylene glycol [9][10]. Additional Important Insights - **Aviation Sector Resilience**: Despite the potential for oil price increases, the likelihood of a broader escalation in the Middle East conflict is considered low, which may support the aviation sector's recovery [4]. - **Market Trends in Fertilizers and Vitamins**: The price of potassium fertilizers is expected to rise due to supply tensions exacerbated by the conflict. Vitamin inventories are at historical lows, with several companies halting production, indicating potential price increases in the near future [14][15]. - **Investment Opportunities**: Companies like New Zhoubang are highlighted for their strong market position and expected growth due to increased demand for fluorinated liquids, with a recommendation to invest based on their low valuation and strong safety margins [12]. This summary encapsulates the critical insights and trends discussed in the conference call, providing a comprehensive overview of the current market landscape and potential investment opportunities.

Core Viewpoint - The news highlights the performance of the Guangdong-Hong Kong-Macao Greater Bay Area Development Theme Index and its related ETF, indicating a positive trend in the market driven by recent events and policy support [1][2]. Market Performance - As of June 10, 2025, the Greater Bay Area Development Theme Index rose by 0.26%, with notable increases in constituent stocks such as Shenghong Technology (up 3.72%) and Guangzhou Development (up 3.24%) [1]. - The Greater Bay Area ETF (512970) increased by 0.42%, with a latest price of 1.2 yuan, and has seen a cumulative rise of 0.67% over the past two weeks [1]. Event Highlights - The 2025 Guangdong-Hong Kong-Macao Greater Bay Area Auto Show concluded on June 8, attracting approximately 890,000 visitors and resulting in 42,823 vehicle orders, amounting to around 10.07 billion yuan in sales [1]. - The auto show covered an area of about 260,000 square meters, with 80,000 square meters dedicated to interactive experience zones showcasing innovative technologies and offering test drives [1]. Policy and Economic Outlook - According to Everbright Securities, domestic policies remain proactive, with expectations for continued policy implementation. The suspension of "reciprocal tariffs" for 90 days is anticipated to maintain high export growth in the short term, with consumption being a key driver of economic recovery [1]. - The index is expected to remain volatile throughout June due to the interplay of internal and external factors [1]. Index Composition - The Greater Bay Area Development Theme Index includes various sub-indices and reflects the performance of companies benefiting from the Greater Bay Area's development [2]. - As of May 30, 2025, the top ten weighted stocks in the index accounted for 53.21% of the total, with companies like BYD (9.53%) and Ping An Insurance (7.81%) leading the list [2][4].

Summary of Key Points from Conference Call Records Industry Overview Aviation Industry - Boeing's aircraft delivery suspension has a limited impact on the Chinese aviation industry, with three previously suspended aircraft set to be delivered to Xiamen Airlines and China Southern Airlines. China Eastern Airlines plans to introduce 46 Boeing aircraft by 2025, with about 10 already delivered in Q1. These new aircraft represent less than 1% of the total industry fleet of 4,300 aircraft [2][4] - Market expectations suggest that tax rebates may compensate airlines for the delivery suspension, which has not significantly affected stock prices [4] - The summer 2025 aviation market is expected to see good pre-sales, with non-fuel ticket prices projected to achieve double-digit growth, although current seat occupancy rates are lower than last year [5] Express Delivery Industry - The express delivery sector is experiencing price increases, particularly in Yiwu, while intense price wars among major companies have not yielded expected results. The growth rate for Zhongtong's parcel volume in Q1 was only 19%, compared to the industry average of 22% [6] - The price war may reach a temporary bottom if price increases continue, presenting a good opportunity for investment in companies like Zhongtong, Jitu, YTO, and Shentong [6] - The application of unmanned vehicles in the last-mile delivery is rapidly advancing, with SF Express increasing its investment in unmanned vehicles, significantly reducing per-package costs [7][8] Chemical Industry - The CCPI price index has decreased due to oil price fluctuations and the seasonal decline in consumption. The index currently stands at 44,033 points, down one percentage point from the previous week [9] - U.S. inventory growth in March was 3.47%, indicating potential future demand decline, which may affect chemical product exports [10] - OPEC's decision to increase production may impact the chemical industry, with a focus on supply-constrained products [11] Fertilizer Market - Potash fertilizer contract prices have risen, with ongoing tight supply and demand conditions expected to maintain high prices. The price for potash contracts in India is $349 per ton, up $70 year-on-year [13][14] Refrigerant and Vitamin Markets - Refrigerant prices are rising due to increased downstream demand, with R32 reaching 51,000 yuan per ton. Vitamin E prices are expected to rise due to low inventory levels and production halts among leading companies [15] Precious Metals Market - Silver prices are rising due to increased tariffs on copper and aluminum, while platinum and palladium prices are influenced by industrial demand fluctuations. The gold market is currently volatile, with attention on potential risks to the U.S. dollar's credibility [18][19] Oil Market - Brent crude oil prices have risen to $66.65 per barrel, with expectations of fluctuations between $63 and $67 in June. Despite OPEC's production increase, global demand remains tight [20]

Investment Rating - The investment rating for the chemical raw materials industry is "Positive" (maintained) [1] Core Viewpoints - The refrigerant market is experiencing an upward trend, with continuous validation of industrial logic, suggesting active investment opportunities [4] - The fluorochemical industry chain has entered a long-term prosperity cycle, with significant growth potential across various segments, including refrigerants and high-end fluorinated materials [20] Summary by Sections 1. Fluorochemical Market Overview - The fluorochemical index increased by 4.23% during the week of June 2 to June 6, outperforming the Shanghai Composite Index by 3.10% [5][22] - The average price of 97% wet fluorite was 3,387 CNY/ton, down 3.09% week-on-week, while the average for June was 3,416 CNY/ton, down 9.85% year-on-year [6][29] 2. Refrigerant Market Trends - As of June 6, 2025, the prices for various refrigerants are as follows: R32 at 51,000 CNY/ton, R125 at 45,500 CNY/ton, R134a at 48,500 CNY/ton, R410a at 48,500 CNY/ton, and R22 at 36,000 CNY/ton, with most prices stable compared to the previous week [7][18] - The market is seeing a significant increase in demand for refrigerants post-Duanwu Festival, with prices expected to rise further in June [19] 3. Recommended Stocks - Recommended stocks include Jinshi Resources, Juhua Co., Sanmei Co., and Haohua Technology, with other beneficiaries being Dongyangguang, Yonghe Co., Dongyue Group, and Xinzhoubang [9][20]

Investment Rating - The report maintains a "Recommendation" rating for the electric vehicle industry, expecting the industry index to outperform the benchmark index by more than 5% in the next 3-6 months [18]. Core Insights - In May 2025, new energy vehicle deliveries from various manufacturers totaled 311,797 units, representing a year-on-year increase of 53% and a month-on-month increase of 41%. Zeekr led the sales with 46,538 units, showing a year-on-year increase of 150% and a month-on-month increase of 239% [5]. - Cumulative deliveries of new energy vehicles from domestic manufacturers reached 1,143,627 units by May 2025, reflecting a year-on-year increase of 327% [5]. - The report highlights that battery components are the most valuable parts of electric vehicles, suggesting a focus on upstream supply chains due to stable delivery growth from new energy vehicle manufacturers [5]. Summary by Sections Industry Basic Data - The electric vehicle industry comprises 300 listed companies with a total market capitalization of 48,588.68 billion and a circulating market capitalization of 42,362.62 billion [2]. Relative Index Performance - The absolute performance of the industry over the past month is 2.5%, with a 6-month performance of -8.5% and a 12-month performance of 3.3%. The relative performance shows a 0.6% increase over the past month, a -6.5% decrease over 6 months, and a -3.5% decrease over 12 months [3]. Delivery Performance - The report details the delivery performance of various new energy vehicle manufacturers in May 2025, with significant year-on-year growth for brands like Xiaopeng (230%), Li Auto (17%), and others, indicating a robust market demand [5].

根据《证券法》《深圳证券交易所创业板股票上市规则》及《深圳证券交易 所上市公司自律监管指引第 2 号—创业板上市公司规范运作》等相关法律法规及 规范性文件，结合公司实际情况，董事会同意对《公司章程》相应条款进行修订。 《关于变更公司注册资本并修订<公司章程>的公告》、修订后《公司章程》 以及监事会发表意见具体内容详见同日刊登在中国证监会指定的创业板信息披 露网站巨潮资讯网。 表决结果：9 票同意，0 票反对，0 票弃权，获得通过。 公司分别于 2024 年 4 月 24 日、2024 年 5 月 14 日召开第六届董事会第十一 次会议、2024 年第一次临时股东大会审议通过了《关于提请股东大会授权董事 会办理公司回购股份相关事宜的议案》，授权公司董事会在回购股份实施完成后， 对回购股份进行注销，办理公司章程修改及注册资本变更事宜。 深圳新宙邦科技股份有限公司 第六届董事会第二十三次会议决议公告 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。 深圳新宙邦科技股份有限公司（以下简称"公司"）第六届董事会第二十三 次会议于2025年5月30日以通讯方式召开。本次董事 ...

一、审议通过了《关于变更公司注册资本及修订<公司章程>的议案》 根据《证券法》《上市公司章程指引》《深圳证券交易所创业板股票上市规 则》及《深圳证券交易所上市公司自律监管指引第 2 号—创业板上市公司规范运 作》等相关法律法规及规范性文件，结合回购股份注销完成的实际情况，监事会 同意对《公司章程》相应条款进行修订。 《关于变更公司注册资本及修订<公司章程>的公告》、修订后《公司章程》 等具体内容详见同日刊登在中国证监会指定的创业板信息披露网站巨潮资讯网。 表决结果：3 票同意，0 票反对，0 票弃权，获得通过。 | 证券代码：300037 | 证券简称：新宙邦 | 公告编号：2025-057 | | --- | --- | --- | | 债券代码：123158 | 债券简称：宙邦转债 | | 深圳新宙邦科技股份有限公司 第六届监事会第二十一次会议决议公告 本公司及监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。 深圳新宙邦科技股份有限公司（以下简称"公司"）第六届监事会第二十一 次会议于 2025 年 5 月 30 日在公司会议室以通讯方式召开。本次监事会会议通知 已 ...