Group 1 - The core viewpoint of the articles emphasizes the rapid execution of convertible bond financing for Blue Sky Technology, showcasing the commitment of Xinyin Wealth Management to support innovative enterprises and align with national strategic goals [1][4][5] - Xinyin Wealth Management, in collaboration with CITIC Bank Xi'an Branch, successfully completed the financing within two working days, demonstrating its capability to respond swiftly to the financing needs of technology-driven companies [1][3] - Blue Sky Technology, recognized as a leading enterprise in the domestic adsorption separation materials sector, is positioned to benefit from the financing, which supports its growth and aligns with China's dual carbon goals [2][5] Group 2 - The financing initiative is part of Xinyin Wealth Management's broader strategy to integrate with China's high-quality development and support the real economy through targeted financial services [2][4] - The company has established a dedicated investment banking project line, focusing on direct financing methods such as convertible bonds and private equity investments, enhancing its service capabilities for innovative and specialized enterprises [5] - As of now, Xinyin Wealth Management has issued eight green-themed financial products and has invested nearly 30 billion in technology-driven and specialized enterprises, reflecting its commitment to fostering economic growth and innovation [5]

国信证券股份有限公司 关于西安蓝晓科技新材料股份有限公司 募集资金专户部分资金被冻结的核查意见 四、保荐机构核查意见 经核查，本保荐机构认为： 本次被冻结的募集资金专用账户资金金额为 500 万元，占公司 2023 年度向 不特定对象发行可转换公司债券募集资金净额的 0.93%，占公司最近一期经审计 净资产的 0.13%，占比相对较小。募集资金专项账户仅用于募集资金的存储和使 用，除被冻结资金外，账户内其他资金可正常使用，不会对公司募集资金投资项 目的实施产生重大不利影响。 根据《证券发行上市保荐业务管理办法》《深圳证券交易所上市公司自律监 管指引第 13 号—保荐业务》《深圳证券交易所创业板股票上市规则》《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》等有关法律法 规和规范性文件的要求，国信证券股份有限公司（简称"国信证券"或"保荐机 构"）作为西安蓝晓科技新材料股份有限公司（简称"蓝晓科技"或"公司"）的 持续督导保荐机构，对公司募集资金专户部分资金被冻结事项进行了认真、审慎 的核查，具体核查情况如下： 二、本次部分募集资金被冻结的原因 公司尚未收到法院关于本次冻结公司银行账户的 ...

Investment Rating - The report rates the chemical industry as "Outperform" [2] Core Views - The report highlights the impact of fluctuating international oil prices and the recent price changes in titanium dioxide and refrigerants, suggesting a focus on mid-year earnings reports and the influence of supply-side factors in related sub-industries [2][3][11] - It emphasizes the importance of self-sufficiency in electronic materials companies and the stability of dividend policies in energy enterprises [11] Summary by Sections Industry Dynamics - In the week of August 4-10, 2025, among 100 tracked chemical products, 18 saw price increases, 39 experienced declines, and 43 remained stable. 38% of products had month-on-month price increases, while 56% saw decreases [10][31] - International oil prices fell, with WTI crude oil closing at $63.88 per barrel, down 5.12% for the week, and Brent crude at $66.59 per barrel, down 4.42% [10][32] - Titanium dioxide prices decreased to an average of 13,302 RMB/ton, down 1.10% from the previous week, with a year-to-date decline of 7.24% [10][33] - Refrigerant prices increased, with R32 averaging 56,500 RMB/ton, up 2.73% week-on-week and 31.40% year-to-date [10] Investment Recommendations - The report suggests focusing on mid-year earnings, the impact of "anti-involution" on supply in related sub-industries, and the importance of self-sufficiency in electronic materials [11] - Long-term investment themes include the sustained high demand in the oil and gas extraction sector, the rapid development of downstream industries, and the potential for recovery in demand supported by policy [11] - Recommended stocks include China Petroleum, China Oilfield Services, and several technology and chemical companies [11] Key Stocks for August - The report identifies Satellite Chemical and Anji Technology as key stocks for August, highlighting their strong performance and growth potential [12][18]

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Views - The chlor-alkali industry is experiencing a recovery in profitability, driven by a tightening supply of glyphosate and glufosinate, leading to price increases [4][20] - The "anti-involution" policy is expected to be a key focus in 2025 and beyond, aiming to optimize the competitive landscape in the chemical industry [26] Summary by Sections Industry Trends - The chemical industry index outperformed the CSI 300 index by 1.1% this week, with 76.7% of the 545 tracked stocks showing weekly gains [17] - The average price of glyphosate increased to 26,399 CNY/ton, a rise of 0.37% from the previous week, while glufosinate also saw a price increase [21][22] Key Products Tracking - Urea and potassium chloride prices have risen, while phosphorite and phosphates remain stable [52] - The average price of urea reached 1,780 CNY/ton, up 0.62% from the previous week, driven by improved market sentiment [52][54] Recommended and Beneficiary Stocks - Recommended stocks include leading chemical companies such as Wanhua Chemical, Hualu Hengsheng, and Hengli Petrochemical [6][26] - Beneficiary stocks include companies like Jiangshan Co., Ltd. and Hebei New Chemical Materials [24][27]

| 证券代码：300487 | 证券简称：蓝晓科技 | 公告编号：2025-035 | | --- | --- | --- | | 债券代码：123195 | 债券简称：蓝晓转 02 | | 西安蓝晓科技新材料股份有限公司 关于公司募集资金专户部分资金被冻结的公告 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。 西安蓝晓科技新材料股份有限公司（以下简称"公司"）于近日通过查询银行 账户获悉，公司募集资金专项账户的部分资金被淄博市张店区人民法院冻结，现 将相关情况公告如下： 本次冻结所涉账户为公司 2023 年度向不特定对象发行可转换公司债券的募 集资金专项账户，被冻结的金额为"新能源金属吸附分离技术研发中心项目"账户 内的 5,000,000.00 元，占公司 2023 年度向不特定对象发行可转换公司债券募集 资金净额的 0.93%，占公司最近一期经审计净资产的 0.13%。被冻结资金占募集 资金净额及公司最近一期净资产的比例较低，不会对公司募集资金投资项目的实 施产生重大不利影响，不会对公司的经营管理产生重大影响。 一、本次募集资金专项账户的部分资金被冻结的 ...

Investment Rating - The report maintains an "A" rating for the industry, indicating an expected performance that will exceed the benchmark index by more than 10% [1][9]. Core Insights - The report emphasizes the significance of Direct Air Capture (DAC) technology as a "negative carbon asset" in the context of the artificial intelligence and carbon finance era. It highlights the increasing demand for DAC due to the surge in carbon emissions from data centers driven by AI [2][3]. - Major technology companies, including Microsoft and Meta, are accelerating their procurement of DAC carbon removal credits to achieve carbon neutrality goals. The integration of DAC with data centers is seen as beneficial due to the availability of clean energy and the potential to utilize waste heat from cooling systems [2][3]. - The report also notes that DAC possesses unique attributes as a "negative carbon asset," which does not rely on carbon emission sources and can remove existing CO2. This positions DAC as a foundational asset in the carbon finance era [3][4]. Summary by Sections Section 1: Technology and Market Dynamics - The report discusses the explosive growth in energy consumption by global data centers, projected to reach 1,200 terawatt-hours by 2035, and the corresponding increase in greenhouse gas emissions from major tech firms [2]. - It highlights the strategic partnerships between DAC technology companies and major players in the chemical and energy sectors, such as the collaboration between Bluestar Technology and Climeworks [4][6]. Section 2: Investment Opportunities - The report identifies key companies in the DAC space, including Bluestar Technology and Jianlong Micro-Nano, which are involved in the development of efficient CO2 adsorption materials and equipment [4]. - It mentions that Jianlong Micro-Nano is working on a sustainable aviation fuel project utilizing DAC technology, with plans for commercial production by 2027 [6]. Section 3: Industry Trends - The report notes the increasing interest from petrochemical giants in DAC technology due to their existing advantages in carbon storage and the potential for financialization of carbon credits [3][4]. - It emphasizes the ongoing technological advancements in DAC materials and equipment, which are crucial for reducing costs and enhancing efficiency in carbon capture [4].

Industry Overview - The reed relay, composed of a reed switch and coil, is a key electronic switching component in modern electrical control systems due to its compact size, rapid response, and high reliability [1][18] - The application of reed relays is expanding in automation control, industrial equipment, and information transmission, driven by China's economic growth and technological advancements [1][18] - The market size of China's reed relay industry is projected to grow from 1.899 billion yuan in 2021 to 2.519 billion yuan in 2024, with a compound annual growth rate (CAGR) of 9.87% [1][18] - By 2025, the market size is expected to reach 3.036 billion yuan, supported by technological innovation and expanding application areas [1][18] Market Demand and Trends - The acceleration of industrial automation, particularly in the new energy sector, smart grid construction, and the rapid development of IoT technology, is creating significant market demand for reed relays [1][18] - The industry is benefiting from national policies promoting energy conservation, emission reduction, and smart manufacturing, presenting new development opportunities [1][18] Industry Structure - The reed relay industry has a relatively complete supply chain, covering upstream raw material supply, midstream research and manufacturing, and downstream application markets [12] - Upstream materials include iron-nickel alloys, glass tubes, precious metals, excitation coils, epoxy resins, and inert gases [12] Key Companies - Major companies in the reed relay industry include Kunshan Guoli Electronics Technology Co., Ltd., Shenzhen Magtech Electronics Co., Ltd., Shanghai Meigaole Electronics Co., Ltd., and Shanghai Standex-Meder Electronics Co., Ltd. [20][21] - Kunshan Guoli Electronics is noted for its vacuum relay products, including reed relays designed for RF and high-power applications, with projected revenue of 778 million yuan in 2024, a 15.43% increase [22] - Shenzhen Magtech focuses on producing various electronic components, including small-sized reed relays and high-voltage relays [24] Future Development Trends - The industry is expected to enhance performance by optimizing reed materials and improving packaging processes to increase environmental resistance [26] - There is a growing demand for miniaturized reed relays driven by the rapid development of consumer electronics and IoT devices [28] - Low-power reed relays are increasingly sought after in green energy sectors, with innovations aimed at reducing energy consumption while maintaining high sensitivity [29]

资金流向方面，今日主力资金净流出1336.61万元，占比成交额8.65%。其中，超大单净流出886.90万 元、占成交额5.74%，大单净流出449.70万元、占成交额2.91%，中单净流出流出385.87万元、占成交额 2.5%，小单净流入1722.47万元、占成交额11.15%。 蓝晓科技最新一期业绩显示，截至2025一季报，公司营业总收入5.77亿元、同比减少8.58%，归属净利 润1.93亿元，同比增长14.18%，扣非净利润1.90亿元，同比增长15.17%，流动比率3.014、速动比率 2.246、资产负债率34.15%。 金融界消息 截至2025年7月30日收盘，蓝晓科技（300487）报收于53.5元，上涨0.85%，换手率0.94%， 成交量2.88万手，成交金额1.54亿元。 天眼查商业履历信息显示，西安蓝晓科技新材料股份有限公司，成立于2001年，位于西安市，是一家以 从事化学原料和化学制品制造业为主的企业。企业注册资本21976.8787万人民币，实缴资本5766万人民 币。公司法定代表人为高月静。 通过天眼查大数据分析，西安蓝晓科技新材料股份有限公司共对外投资了16家企业，参与招投标 ...

Investment Rating - The report maintains a positive outlook on the pesticide industry, suggesting a "Buy" rating for key companies such as Yangnong Chemical, Lier Chemical, and Runfeng Shares [3][20]. Core Insights - The pesticide industry is experiencing a recovery due to the "Zhengfeng Zhijuan" initiative aimed at regulating the market, which has led to price increases for key products like fluorocarbon herbicides [3][4]. - The report highlights the impact of maintenance shutdowns at major production facilities, such as Wanhua's Hungarian plant, which may lead to supply shortages and price increases in the TDI market [3][4]. - The report emphasizes the potential for improved industry dynamics through the elimination of outdated production capacity, as indicated by government initiatives targeting key sectors [3][4]. Summary by Sections Industry Dynamics - Current macroeconomic conditions indicate a stable global GDP growth of 2.8%, with oil demand expected to rise despite some slowdown due to tariffs [4]. - The report notes that coal prices are expected to decline in the medium to long term, alleviating pressure on downstream industries [4]. Chemical Prices - Recent price movements include a 15% increase in the price of Lier Chemical's fluorocarbon herbicide and a similar rise for Zhongqi Shares [3][11]. - The report mentions that the price of TDI is expected to rise due to low global inventory levels and potential supply disruptions from maintenance activities [3][4]. Investment Recommendations - The report suggests focusing on traditional cyclical stocks and specific sectors such as coal chemical, real estate chain, and agricultural chemicals, highlighting companies like Wanhua Chemical and Hualu Hengsheng [3][20]. - Growth stocks with recovery potential are identified, including semiconductor materials and OLED panel materials, with specific companies recommended for investment [3][20].

Group 1 - The chemical sector continues to rise, with the Chemical ETF (516020) showing a maximum intraday increase of 1.83% and closing up 1.53% [1] - Notable stocks in the sector include lithium battery, soda ash, and fluorine chemical companies, with significant gains from Hebang Biological (up 4.76%) and Tianci Materials (up 4.03%) [1] - The chemical sector has attracted significant capital, with a net inflow of 26.418 billion yuan over the past five days, ranking second among 30 sectors [1][3] Group 2 - The "anti-involution" policy is benefiting the lithium battery sector, as it leads to project delays and a healthier supply-demand balance [3] - The chemical industry is currently at the bottom of the cycle, facing challenges from increased competition, but supply-side reforms are expected to optimize the industry structure [4] - The current valuation of the Chemical ETF (516020) is at a low point, suggesting a good opportunity for long-term investment [4] Group 3 - The chemical sector is expected to undergo a re-pricing based on cost factors, focusing on green and low-carbon initiatives [5] - Domestic policies frequently emphasize supply-side requirements, while international uncertainties in chemical supply are increasing [5] - The Chemical ETF (516020) provides a diversified investment opportunity across various sub-sectors, with a significant portion allocated to large-cap leading stocks [6]