Investment Rating - The investment rating for the chemical raw materials industry is "Positive" (maintained) [1] Core Insights - The fluorochemical industry is experiencing a long-term prosperity cycle, with significant growth potential across various segments, including raw materials like fluorite, refrigerants, and high-end fluorinated materials [24] - Recent price trends indicate a wide increase in the prices of refrigerants R404 and R507, driven by strong demand in overseas markets and limited supply due to quota restrictions [22][23] - Companies such as Jinshi Resources, Juhua Co., Sanmei Co., and Haohua Technology are recommended as key investment targets due to their strong market positions and growth prospects [10][24] Summary by Sections Fluorochemical Industry Overview - The fluorochemical index increased by 7.76% recently, outperforming the Shanghai Composite Index by 5.88% [6] - The fluorochemical index closed at 5206.63 points, down 0.25%, but still outperformed the Shanghai Composite Index and the CSI 300 Index [6][36] Fluorite Market - The average market price for fluorite 97 wet powder is 3,309 CNY/ton, stable compared to the previous week but down 9.65% year-on-year [7][18] - The average price for fluorite in 2026 is projected to be 3,309 CNY/ton, a decrease of 4.95% from 2025 [18] Refrigerant Market - As of January 16, 2026, the prices for various refrigerants are as follows: R32 at 63,000 CNY/ton, R125 at 48,500 CNY/ton, R134a at 58,000 CNY/ton, R404 at 49,000 CNY/ton (up 6.52%), and R507 at 49,000 CNY/ton (up 6.52%) [8][20] - The external trade prices for R404 and R507 have increased to approximately 35,000 CNY/ton, reflecting a rise of 12.90% [21][22] Company Performance - Sanmei Co. and Yonghe Co. have projected significant profit increases for 2025, with expected net profits of 19.9 to 24.5 billion CNY (up 155.66% to 176.11%) and 5.3 to 6.3 billion CNY (up 110.87% to 150.66%), respectively [10][9] - Jinshi Resources, Juhua Co., Sanmei Co., and Haohua Technology are highlighted as key beneficiaries in the current market environment [10][24]

Investment Rating - The report maintains a "Recommended" rating for the new materials industry [1] Core Insights - The new materials sector is positioned as a crucial direction for the chemical industry, currently experiencing rapid growth in downstream demand. With policy support and technological breakthroughs, domestic new materials are expected to accelerate into a long-term growth phase. The report emphasizes that "one generation of materials leads to one generation of industry," highlighting the foundational nature of the new materials industry as the material basis for other sectors [3][4]. Summary by Sections 1. Electronic Information Sector - Focus areas include semiconductor materials, display materials, and 5G materials. Samsung Display has officially launched mass production of the 8.6 generation OLED panels, which will be used in new laptops this year [5][20]. 2. Aerospace Sector - Key materials of interest are PI films, precision ceramics, and carbon fibers. The successful suborbital flight test of the Lihong No. 1 vehicle demonstrates advancements in low-cost and flexible launch capabilities [7]. 3. New Energy Sector - Focus on photovoltaic materials, lithium-ion batteries, proton exchange membranes, and hydrogen storage materials. India is projected to become the second-largest solar market globally by 2026, driven by steady installation growth [9]. 4. Biotechnology Sector - Key areas include synthetic biology and scientific services. A team from Tsinghua University in Shenzhen has developed a 3D-printed "mini heart" that mimics the rhythmic beating of a real heart, with future applications in organ printing anticipated [11]. 5. Energy Conservation and Environmental Protection Sector - Focus on adsorbent resins, membrane materials, and biodegradable plastics. The Ministry of Industry and Information Technology has launched an action plan to promote high-quality development of industrial internet platforms, aiming for over 450 influential platforms by 2028 [13]. 6. Key Companies and Earnings Forecast - The report highlights several companies with their respective stock prices and earnings per share (EPS) forecasts for 2024A, 2025E, and 2026E, along with their price-to-earnings (PE) ratios and investment ratings. Notable companies include: - Ruihua Tai (688323.SH): EPS forecast of 0.26 for 2026E, rated as "Increase" [14] - Guangwei Composite (300699.SZ): EPS forecast of 0.97 for 2026E, rated as "Buy" [14] - Zhongfu Shenying (688295.SH): EPS forecast of 0.23 for 2026E, rated as "Buy" [14] - Wanrun Co., Ltd. (002643.SZ): EPS forecast of 0.53 for 2026E, rated as "Buy" [14] - Dinglong Co., Ltd. (300054.SZ): EPS forecast of 0.96 for 2026E, rated as "Buy" [14]

Group 1 - The core viewpoint of the article is that the lithium battery electrolyte market in China is expected to see significant growth, with a projected shipment of 211 tons in 2025, representing a year-on-year increase of 45.3% [2] - The market concentration is increasing, with the CR10 reaching 89.7%, indicating that the leading companies are solidifying their positions in the industry [2] - The growth in shipments is primarily driven by the demand for power batteries and energy storage batteries [2] Group 2 - The top 10 companies in the lithium battery electrolyte shipment for 2025 are: Tianqi Materials, Xinzhou Bang, Kunlun New Materials, Shida Shenghua, Zhuhai Saiwei, Sinochem Blue Sky, Ruitai New Materials, Fainlight, Yongtai Technology, and New Asia Shanshan [3] - Tianqi Materials is identified as the industry leader in this segment [3] - The report is published by Qidian Research Institute SPIR, which specializes in the new energy and new materials industry chain [4]

2026年1月16日，创业板新能源ETF华夏（159368）上涨1.04%，持仓股震裕科技涨超7%，迈为股份涨 超6%，新宙邦涨超2%。 4万亿聚焦新型电力系统，储能作为新能源消纳与跨区输电的调节核心，将显著受益于"沙戈荒"风光基 地、特高压配套与配网升级项目，独立储能与共享储能订单加速释放。 创业板新能源ETF华夏（159368）是全市场跟踪创业板新能源指数的规模最大ETF基金。创业板新能源 指数主要涵盖新能源和新能源汽车产业，涉及电池、光伏等多个细分领域。创业板新能源ETF华夏 （159368）高弹性，涨幅可达20cm；费率最低，管理费和托管费合计仅为0.2%；规模最大，截至2026 年1月9日，规模达6.46亿元；成交额最大，近一月日均成交6949万元。其储能+固态电池占比近90%， 契合当下市场热点。 （文章来源：每日经济新闻） 1月15日，国家电网"十五五"投资计划出炉："十五五"期间，国家电网公司固定资产投资预计达到4万亿 元，较"十四五"投资增长40%；将重点聚焦于绿色转型、构建新型电力系统、强化科技赋能等方面。其 中国家电网将优化抽蓄站点布局，支持新型储能规模化发展，提高新能源运行支撑和并网消 ...

| 证券代码：300037 | 证券简称：新宙邦 | 公告编号：2026-009 | | --- | --- | --- | | 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 关于"宙邦转债"可能触发赎回条件的提示性公告 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。 重要内容提示： 自 2025 年 12 月 25 日至 2026 年 1 月 15 日，深圳新宙邦科技股份有限公司 （以下简称"公司"）股票已有 10 个交易日的收盘价格不低于"宙邦转债"当 期转股价格（41.05 元/股）的 130%（含 130%）（即 53.37 元/股）。若在未来触 发"宙邦转债"的有条件赎回条款（即，在本次发行的可转债转股期内，如果公 司股票在任意连续三十个交易日中至少十五个交易日的收盘价格不低于当期转 股价格的 130%（含 130%）），届时根据《深圳新宙邦科技股份有限公司向不 特定对象发行可转换公司债券募集说明书》（以下简称"《募集说明书》"）中 有条件赎回条款的相关规定，公司董事会有权按照债券面值加当期应计利息的价 格赎回全 ...

Group 1 - The chemical sector is leading the market gains, with the basic chemical sector showing the highest increase among 30 CITIC primary industries, reflecting a 0.99% rise in the chemical ETF (516020) [1] - Key stocks in the sector include rubber additives and phosphorus chemicals, with notable performances from Tongcheng New Materials, which hit the daily limit, and Hongda Co., which rose over 5% [1][2] - The overall market sentiment indicates a strong rebound in the chemical sector, driven by significant orders from leading lithium battery manufacturers, with expectations of substantial growth in lithium battery production capacity by 2026 [2][3] Group 2 - Industry analysts predict that the chemical industry's profitability is likely to recover in 2026 after experiencing a downturn in 2025, with a new phase of supply-demand rebalancing beginning [3] - The chemical ETF (516020) tracks the CSI segmented chemical industry theme index, with nearly 50% of its holdings concentrated in large-cap leading stocks, providing investors with opportunities to capitalize on the sector's rebound [3] - The ETF includes exposure to various themes such as AI computing, anti-involution policies, and new energy, which are expected to drive growth in the chemical sector [3]

新宙邦（300037.SZ）1月15日在投资者互动平台表示，公司通过技术创新提升产品价值，技术附加值本 身构成了坚实的定价基础，凭借领先的技术解决方案与海内外核心客户形成了深度绑定的战略合作关 系，使公司在合作中保障合理的利润空间，而非被动进行成本传导；公司在海内外多个关键区域拥有生 产基地和供应链网络，增强了公司对区域市场的服务能力与成本优化空间，四大业务板块之间的技术与 市场协同，提升了整体抗风险能力；因此，公司在产业链中享有相对坚实的定价控价主动权、重要的技 术话语权与可持续的市场影响力。关于公司的经营情况请关注公司在巨潮资讯网发布的定期报告并请注 意投资风险。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：公司对于自身主营产品的定价权，控价权如何，可以 很好的分摊上游的价格涨幅吗 ...

Core Viewpoint - The demand for LIFSI (Lithium bis(fluorosulfonyl)imide) is expected to grow significantly due to the increasing need for energy storage batteries and fast-charging electric vehicles, with a projected production of 44,500 tons in 2025, representing a 116% year-on-year increase [1][3]. Group 1: Production and Capacity - The production growth rate of LIFSI is not consistently high, showing a slowdown in 2022 and 2023, while capacity expansion continues, indicating companies' optimism about long-term prospects [3]. - By 2025, the effective capacity for LIFSI is expected to reach 75,600 tons, with an operating rate of 59% [1]. - The ranking of LIFSI producers shows Tianci Materials leading with a production capacity of over 7,500 tons, followed by Rukang New Materials and others in the second tier [5][8]. Group 2: Market Dynamics - The global LIFSI market in 2025 is characterized by a "one strong, many strong" pattern, with Tianci Materials holding over 50% market share, significantly higher than the typical 30% for industry leaders [8]. - Rukang New Materials holds nearly 20% market share, while second-tier manufacturers have market shares generally below 10% [8]. - The competitive landscape is dynamic, with ongoing innovation and collaboration with downstream giants expected to shape future rankings [8]. Group 3: Price Trends - There is a stable price difference between solid and liquid LIFSI due to their differing value attributes and application scenarios, with solid LIFSI being used in high-end power batteries and liquid LIFSI being more convenient for electrolyte preparation [10]. - In the first half of 2025, LIFSI prices slightly decreased, but are expected to rise in the second half due to increasing costs of hexafluorophosphate and lithium carbonate [10]. Group 4: Future Outlook - The global LIFSI production is projected to reach 58,500 tons in 2026, with an operating rate of 73%, and 69,000 tons in 2027, indicating a continued strong supply-demand balance in the market [12].

Group 1 - The company Xinzhou Bang (300037) announced that it will hold its first extraordinary general meeting of shareholders for 2026 on January 19, 2026 [1]

| 证券代码：300037 | 证券简称：新宙邦 | 公告编号：2026-008 | | --- | --- | --- | | 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 关于召开2026年第一次临时股东会的提示性公告 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"）于2026年1月1日在巨潮 资讯网（http://www.cninfo.com.cn）上刊登了《关于召开2026年第一次临时股东会 的通知》（公告编号：2026-006），定于2026年1月19日召开公司2026年第一次临 时股东会，本次会议将采取现场投票与网络投票相结合的方式，为切实保护广大 投资者的合法权益，方便公司股东行使表决权，现将本次股东会的有关事宜提示 如下： 一、召开会议基本情况 1、股东会届次：2026年第一次临时股东会 2、会议召集人：公司第七届董事会 3、会议召开的合法、合规性：公司于2025年12月30日召开的第七届董事会 第一次会议审议通过了《关于召开2026年第一次临时股东会的议案》， ...