Investment Rating - The report maintains a rating of "Increase" for the industry, indicating a positive outlook for investment opportunities in the sector [6]. Core Insights - The demand for ion exchange resins is expanding across various sectors, including semiconductors, nuclear industry, and pharmaceuticals, with a particular focus on leading companies like Bluestar Technology and ZG Co [4][5]. - In the semiconductor sector, ion exchange resins are crucial for producing ultra-pure water, which is essential for the manufacturing of electronic components. The production of a single integrated circuit requires approximately 3 to 5 liters of ultra-pure water, with a 6-inch wafer consuming about 1.2 tons [1]. - In the nuclear industry, ion exchange resins are used in the water treatment systems of reactors, ensuring the provision of high-quality ultra-pure water, which is vital for the stable operation of steam generators [2]. - The pharmaceutical sector utilizes ion exchange resins for the separation and purification of various biopharmaceuticals, including antibiotics and traditional Chinese medicine components, due to their high purity and operational efficiency [3]. Summary by Sections Semiconductor Industry - Ion exchange resins are primarily used in ultra-pure water production for semiconductor manufacturing, with stringent quality requirements as technology advances [1]. Nuclear Industry - The use of nuclear-grade ion exchange resins in reactor water treatment systems is critical for maintaining operational efficiency and reducing fouling in steam generators [2]. Pharmaceutical Industry - Ion exchange and adsorption resins are widely applied in the pharmaceutical industry for the extraction and purification of various drugs, benefiting from their simple operation and high product purity [3]. Company Focus - Bluestar Technology is recognized as a leading domestic player in the adsorption separation materials and technology sector, with a current production capacity of 50,000 tons per year and plans for expansion [4]. - ZG Co is actively investing in the ion exchange and adsorption resin field, with a designed production capacity of 19,750 tons and plans for a new project in Hubei with a total investment of 1 billion RMB [4].

证券代码：300487 证券简称：蓝晓科技 公告编号：2025-028 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 关于召开 2024 年年度股东大会的提示性公告 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。 西安蓝晓科技新材料股份有限公司（以下简称"公司"）于 2025 年 4 月 23 日在 巨潮资讯网（http://www.cninfo.com.cn）发布了《关于召开 2024 年年度股东大会的通 知》（公告编号：2025-021）。本次股东大会采用现场投票与网络投票相结合的方式 召开，为方便公司股东行使股东大会表决权，现将本次会议相关事项再次提示如下： 一、召开会议的基本情况 开 2024 年年度股东大会，召集程序符合有关法律、行政法规、部门规章、规范性文件 和公司章程的规定。 （1）现场会议的召开时间：2025 年 5 月 19 日（星期一）下午 14:00。 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的具体时间为 通过深圳证券交易所互联网投票系统进行网络投票的时间为 2025 年 5 月 19 ...

西安蓝晓科技新材料股份有限公司（以下简称"公司"）于 2025 年 4 月 23 日在 巨潮资讯网（http://www.cninfo.com.cn）发布了《关于召开 2024 年年度股东大会的通 知》（公告编号：2025-021）。本次股东大会采用现场投票与网络投票相结合的方式 召开，为方便公司股东行使股东大会表决权，现将本次会议相关事项再次提示如下： 一、召开会议的基本情况 1.股东大会届次：2024 年年度股东大会。 2.股东大会的召集人：公司董事会。 | 证券代码：300487 | 证券简称：蓝晓科技 | 公告编号：2025-028 | | --- | --- | --- | | 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 关于召开 2024 年年度股东大会的提示性公告 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。 3.会议召开的合法、合规性：经公司第五届董事会第八次会议审议通过，决定召 开 2024 年年度股东大会，召集程序符合有关法律、行政法规、部门规章、规范性文件 和公司章程的规定。 4.会议召开 ...

Core Viewpoint - The ongoing legal dispute between two listed companies in Shaanxi, SanDa Membrane and Blue Sky Technology, centers around a contract worth 58.61 million yuan related to lithium extraction equipment, with a recent court ruling requiring SanDa Membrane to pay 48.29 million yuan to Blue Sky Technology [1][10]. Group 1: Contractual Dispute - The conflict originated from a contract signed in March 2022 for the supply and installation of lithium extraction equipment, valued at 114 million yuan, as part of a larger project [4][7]. - SanDa Membrane claims that Blue Sky Technology failed to meet installation deadlines, leading to economic losses and justifying their counterclaim for 38.73 million yuan [4][7]. - The court ruled in favor of Blue Sky Technology, ordering SanDa Membrane to pay the specified amount and rejecting SanDa's counterclaims [5][10]. Group 2: Legal Proceedings - SanDa Membrane plans to appeal the first-instance ruling, indicating that the legal battle may continue into a second trial [2][10]. - The ongoing litigation has resulted in the freezing of 58.61 million yuan of SanDa Membrane's assets, impacting its financial operations [4][12]. Group 3: Financial Impact - SanDa Membrane reported a significant decline in net cash flow from operating activities, down 78.38% year-on-year to 12.19 million yuan, attributed to the legal disputes and asset freezes [17]. - The company has also faced additional arbitration related to another project, further complicating its financial situation [12][16]. Group 4: Broader Context - Both companies are experiencing multiple legal challenges, with Blue Sky Technology also facing a lawsuit for 53.5 million yuan from an insurance company related to an accident involving another party [20].

假记载、误导性陈述或重大遗漏。 证券代码：300487 证券简称：蓝晓科技 公告编号：2025-027 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 关于参加"2025 年陕西辖区上市公司投资者集体接待日暨 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，不存在虚 活动地址："全景路演" 网址：http://rs.p5w.net。 为充分尊重投资者、提升交流的针对性，现就公司 2024 年度业绩说明会提 前向投资者公开征集问题，广泛听取投资者的意见和建议。投资者可提前访问网 址 https://ir.p5w.net/zj，进入问题征集专题页面，选择本公司并在登录后提问。公 司将在 2024 年度业绩说明会上，对投资者关注的问题进行回答。 特此公告。 西安蓝晓科技新材料股份有限公司董事会 为促进上市公司规范运作、健康发展，增强上市公司信息透明度，加强与广 大投资者沟通交流，进一步提升投资者关系管理水平，陕西上市公司协会根据中 国证券监督管理委员会陕西监管局工作部署，联合深圳市全景网络有限公司举办 "2025 年陕西辖区上市公司投资者集体接待日暨 2024 年度业绩说明会 ...

2024 年度业绩说明会"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，不存在虚 假记载、误导性陈述或重大遗漏。 为促进上市公司规范运作、健康发展，增强上市公司信息透明度，加强与广 大投资者沟通交流，进一步提升投资者关系管理水平，陕西上市公司协会根据中 国证券监督管理委员会陕西监管局工作部署，联合深圳市全景网络有限公司举办 "2025 年陕西辖区上市公司投资者集体接待日暨 2024 年度业绩说明会"。 | 证券代码：300487 | 证券简称：蓝晓科技 公告编号：2025-027 | | --- | --- | | 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 关于参加"2025 年陕西辖区上市公司投资者集体接待日暨 活动时间：2025 年 5 月 20 日（星期二）15:00—17:00。 为充分尊重投资者、提升交流的针对性，现就公司 2024 年度业绩说明会提 前向投资者公开征集问题，广泛听取投资者的意见和建议。投资者可提前访问网 址 https://ir.p5w.net/zj，进入问题征集专题页面，选择本公司并在登录后提问。公 司将在 2024 ...

Core Viewpoint - The company reported steady revenue and profit growth in 2024, with a notable performance in its core business segments, despite challenges in specific projects like the lithium extraction project [1][3]. Financial Performance Summary - In 2024, the company achieved revenue of 2.554 billion yuan, a year-on-year increase of 2.62%, and a net profit attributable to shareholders of 787 million yuan, up 9.79% year-on-year [1]. - The weighted average return on equity was 21.33%, down 1.79 percentage points year-on-year [1]. - The gross profit margin was 49.47%, an increase of 0.80 percentage points year-on-year, while the net profit margin was 31.11%, up 2.12 percentage points year-on-year [1]. - In Q4 2024, revenue was 662 million yuan, a year-on-year decrease of 27.40%, but a quarter-on-quarter increase of 10.89% [1]. - For Q1 2025, revenue was 577 million yuan, down 8.58% year-on-year and 12.91% quarter-on-quarter, while net profit was 193 million yuan, up 14.18% year-on-year [2]. Business Segment Performance - The lithium extraction project generated revenue of 99 million yuan in 2024, a significant decline of 80.96% year-on-year, primarily due to cyclical industry conditions and project execution delays [3]. - Excluding the lithium project, the core business achieved revenue of 2.455 billion yuan, a year-on-year increase of 24.71%, indicating strong growth momentum [3]. - Key segments such as water treatment and ultrapure water, life sciences, and metal resources reported revenues of 688 million, 568 million, and 256 million yuan, respectively, with year-on-year growth rates of 34%, 28%, and 30% [3]. - The chemical and catalysis, and food processing segments also showed strong performance, with revenues of 202 million and 56 million yuan, reflecting year-on-year increases of 42% and 28% [3]. Growth Drivers and Strategic Initiatives - The water treatment and ultrapure water business saw significant breakthroughs, with sales reaching 688 million yuan, a 34% increase year-on-year, driven by increased market penetration and long-term contracts with major clients [4]. - The life sciences segment is benefiting from the strong market performance of GLP-1 peptide drugs, leading to rapid growth in solid-phase synthesis carrier business [5]. - The company is expanding its international marketing and technical service network, enhancing its local team in North America and Europe, and investing in capacity expansion and upgrades to support long-term growth [5]. Profit Forecast and Valuation - The company is projected to achieve net profits of 1.026 billion, 1.283 billion, and 1.576 billion yuan for 2025-2027, with corresponding EPS of 2.02, 2.53, and 3.10 yuan [6]. - The current price corresponds to PE ratios of 22.85, 18.26, and 14.87 for the respective years, indicating a favorable long-term growth outlook [6].

关于持股 5%以上股东部分股份质押展期的公告 万股 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，不存在虚 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"）接到公司持股 5%以 上的股东田晓军先生的通知，田晓军先生于近日办理了其持有的部分股份质押展 期业务，现将有关情况公告如下： 注：田晓军先生此次质押展期限售股份性质为高管锁定股。 二、股东股份累计被质押情况 截止公告披露日，上述股东所持质押股份情况如下： 证券代码：300487 证券简称：蓝晓科技 公告编号：2025-026 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 股东 名称 是否为 第一大 股东及 一致行 动人 本次质 押展期 股份数 量（万 股） 占其所 持股份 比例 占公司 总股本 比例 原质押 起始日 原质押到 期日 本次展期 后质押到 期日 质权人 质押 用途 田晓军 否 33 0.43% 0.07% 2023.5.8 2025.5.7 2026.5.7 国泰海通 证券股份 有限公司 个人 融资 7 0.09% 0.01% 2024.5.7 2025.5.7 20 ...

Summary of Key Points Core Viewpoint - In the past 10 days (from April 21 to May 7), overseas institutions have conducted research on 348 listed companies, with Weir Shares being the most focused, receiving attention from 39 overseas institutions [1]. Group 1: Research Activity - A total of 856 companies were researched by institutions in the last 10 days, with securities companies conducting research on 821 companies, accounting for the largest share [1]. - Fund companies researched 732 companies, while overseas institutions visited 348 listed companies [1]. - Weir Shares led the overseas research list with 39 institutions participating, followed closely by Blue Sky Technology with 38 institutions [1]. Group 2: Stock Performance - The average stock price of companies researched by overseas institutions increased by 5.99% over the past 10 days [1]. - Notable performers included Nanshan Zhishang, which saw a cumulative increase of 65.44%, and Runbei Hangke with a 39.45% increase [1]. - Conversely, 78 stocks experienced declines, with Aibo Medical showing the largest drop at 19.62% [1]. Group 3: Detailed Stock Data - The following companies were highlighted for their overseas research participation and stock performance: - Nanshan Zhishang (3 institutions, latest price: 25.13, increase: 65.44%) [1]. - Runbei Hangke (2 institutions, latest price: 47.26, increase: 39.45%) [1]. - Baolingbao (1 institution, latest price: 10.27, increase: 35.85%) [1]. - Xinjieshi (3 institutions, latest price: 60.67, increase: 30.39%) [1]. - Other companies with significant increases include Xiangxin Technology, Yuanjie Technology, and Shen Gong Co., with increases ranging from 20.00% to 29.64% [1].

Investment Rating - The investment rating for the basic chemical industry is "Positive (Maintain)" [1] Core Insights - The basic chemical industry achieved a revenue of 23,219.8 billion yuan in 2024, with a year-on-year increase of 3.2%, but a net profit attributable to shareholders of 1,185.6 billion yuan, reflecting a year-on-year decrease of 6.2% [6][35] - In Q1 2025, the industry reported a revenue of 5,602.8 billion yuan, a year-on-year increase of 5.8%, and a net profit of 369.7 billion yuan, which is an increase of 11.8% year-on-year [6][35] - The profitability of the industry showed a sales gross margin of 17.2% in Q1 2025, with a net profit margin of 0.1% [6][35] Summary by Sections Industry Overview - The chemical raw materials and chemical products manufacturing industry saw a revenue of 91,986.4 billion yuan in 2024, with a cumulative year-on-year increase of 4.2%, while total profits decreased by 8.6% [5][26] - Fixed asset investment in the industry increased by 8.6% year-on-year, but the growth rate declined by 4.8 percentage points [5][26] Q1 Performance - In Q1 2025, the basic chemical sector experienced revenue growth, with a year-on-year increase of 5.8% and a net profit increase of 11.8% [6][35] - The sales gross margin for Q1 2025 was 17.2%, reflecting a slight decrease year-on-year but an increase compared to the previous quarter [6][35] Sub-industry Analysis - In 2024, the chlor-alkali and textile chemical products sub-industries showed significant profit growth, with chlor-alkali achieving a net profit growth of 262.8% [40][41] - For Q1 2025, the chlor-alkali sub-industry continued to lead with a net profit growth of 132.2% [41] Key Company Tracking - Major companies in the basic chemical sector, such as Wanhua Chemical and Hualu Hengsheng, reported significant net profit growth in 2024, with many companies experiencing a decrease in capital expenditures [5][6][35]