Investment Rating - The report maintains a rating of "B" for the new materials sector, indicating a leading position in the market [2]. Core Insights - The new materials sector has experienced a decline, with the new materials index falling by 0.31%, underperforming compared to the ChiNext index which dropped by 2.67% [4]. - The report highlights the potential of Direct Air Capture (DAC) technology, which has been recognized by the Shanghai government as a key technology for 2025, suggesting significant market opportunities in domestic adsorption materials and equipment [7]. Market Performance - The new materials sector saw varied performance across sub-sectors: - Synthetic biology index decreased by 0.51% - Semiconductor materials fell by 4.74% - Electronic chemicals dropped by 1.54% - Biodegradable plastics increased slightly by 0.02% - Industrial gases decreased by 1.20% - Battery chemicals surged by 13.36% [4][19]. Price Tracking - Weekly price changes for key chemical products include: - Valine: 12,750 CNY/ton (-1.92%) - Arginine: 22,900 CNY/ton (-1.08%) - Tryptophan: 39,500 CNY/ton (-4.82%) - Methionine: 22,050 CNY/ton (-0.68%) - PLA (injection grade): 17,800 CNY/ton (unchanged) - PLA (blown film grade): 17,200 CNY/ton (unchanged) [5]. Investment Recommendations - The report suggests focusing on DAC technology and related materials and equipment, highlighting companies such as Blue Sky Technology, Jianlong Micro-Nano, and Xizhuang Co., among others, as potential investment opportunities [8].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% relative to the industry index in the next six months [5][11][19]. Core Viewpoints - The company has achieved breakthroughs in its lithium extraction project in Tibet and is planning to build a high-end materials industrial park for life sciences, which is expected to enhance its growth potential [4][10][11]. - The company's revenue for the first half of 2025 was 1.247 billion yuan, a year-on-year decrease of 3.64%, while the net profit attributable to shareholders increased by 10.01% to 445 million yuan [1][2]. - The growth in the company's performance is primarily driven by its businesses in life sciences, metal resources, water treatment, and ultra-purification, alongside a decrease in raw material costs [2][4]. Financial Summary - The company projects revenues of 3.067 billion yuan, 3.748 billion yuan, and 4.477 billion yuan for 2025, 2026, and 2027 respectively, with corresponding net profits of 970 million yuan, 1.222 billion yuan, and 1.516 billion yuan [11][12]. - The company's return on equity (ROE) is expected to remain strong, with figures of 21.1%, 22.1%, and 22.5% for 2025, 2026, and 2027 respectively [11][12]. - The earnings per share (EPS) are projected to be 1.91 yuan, 2.41 yuan, and 2.99 yuan for the years 2025, 2026, and 2027 [11][12]. Business Performance - The company reported a gross margin of 51.26% in the first half of 2025, an increase of 3.78 percentage points year-on-year, indicating improved profitability [2][4]. - The life sciences segment generated revenue of 320 million yuan in the first half of 2025, reflecting a year-on-year growth of 12.43% [10]. - The company has completed and is executing 12 lithium extraction projects, with a combined capacity of nearly 100,000 tons of lithium carbonate/hydroxide [4][9].

近日，中国上市公司协会联合证券时报等媒体开展 "我在'十四五'这五年上市公司在行动" 主题宣传活 动，聚焦各产业赛道中上市公司的创新实践与发展成果。在新材料产业领域，吸附分离技术作为支撑多 行业高质量发展的 "隐形基石"，正悄然改变着工业生产与日常生活的诸多领域。 西安蓝晓科技新材料股份有限公司（下称 "蓝晓科技"）深耕该领域二十余年，从打破国外技术垄断到 引领全球产业化应用，走出了一条自主创新的发展之路。近日，本报记者专访了蓝晓科技副总经理、董 事会秘书于洋，围绕企业发展、行业变革、科技创新等话题展开深入交流。 从技术自主到行业引领 证券时报：普通人对于"吸附分离技术"和贵司的主营业务可能比较陌生，能否用通俗的语言介绍一下蓝 晓科技是做什么的？这项技术又如何影响我们的产业与生活？ 蓝晓科技自2001年成立以来，就聚焦这一细分领域，目前已形成30多个系列、100多个品种的产品矩 阵，特种树脂年产能达5万吨，是国内产量最大、品种最齐全的特种树脂生产企业，也是全球唯一能提 供"材料+设备"整体解决方案的供应商，服务覆盖金属资源、生命科学、水处理、节能环保等多个领 域。 证券时报：吸附分离技术领域长期被欧美企业主导 ...

资料显示，西安蓝晓科技新材料股份有限公司位于陕西省西安市高新区锦业路135号，成立日期2001年4 月5日，上市日期2015年7月2日，公司主营业务涉及研发、生产和销售吸附分离材料以及围绕吸附分离 材料核心形成的配套系统装置和吸附分离技术一体化的柔性解决方案。主营业务收入构成为：吸附材料 80.71%，系统装置14.70%，技术服务2.95%，其他1.63%。 蓝晓科技所属申万行业为：基础化工-塑料-合成树脂。所属概念板块包括：盐湖提锂、高送转、锂电 池、小金属、高派息等。 截至6月30日，蓝晓科技股东户数1.90万，较上期减少9.84%；人均流通股16100股，较上期增加 10.92%。2025年1月-6月，蓝晓科技实现营业收入12.47亿元，同比减少3.64%；归母净利润4.45亿元，同 比增长10.01%。 9月9日，蓝晓科技盘中下跌2.01%，截至13:04，报55.17元/股，成交1.17亿元，换手率0.68%，总市值 280.08亿元。 资金流向方面，主力资金净流出1071.61万元，特大单买入307.23万元，占比2.63%，卖出832.47万元， 占比7.12%；大单买入1461.95万元，占 ...

公司发布2025 年中报，25H1 公司实现营收12.47 亿元，同比-3.64%；实现归母净利润4.45 亿元，同比 +10.01%；其中25Q2 实现营收6.71 亿元，同比+1.06%，环比+16.27%；实现归母净利润2.51 亿元，同比 +7.00%，环比+30.16%。公司2025 年半年度利润分配方案为每10 股派送现金股利1.8 元（含税）。看好 公司吸附材料业务持续发展，维持买入评级。 支撑评级的要点 公司业绩稳健增长，高毛利业务占比提升。25H1 公司营收同比下滑，主要原因为公司无盐湖提锂大型 项目收入确认，扣除盐湖提锂大型项目收入确认影响后，25H1 公司收入同比增长4.26%，其中生命科 学、金属资源、水处理及超纯化等业务延续增长趋势。收入结构方面，25H1 公司实现吸附材料收入 10.07 亿元（同比+3.40%），系统装置收入1.83 亿元（同比-36.53%），扣除盐湖提锂大项目影响后， 系统装置收入规模同比基本持平；技术服务收入0.37 亿元（同比+217.55%），主要得益于提锂领域项 目设计收入增加。25H1公司毛利率为51.26%（ 同比+3.78pct ） ， 其中吸附 ...

基础化工 | 证券研究报告 — 业绩评论 2025 年 9 月 8 日 300487.SZ 买入 原评级：买入 市场价格:人民币 56.06 板块评级:强于大市 本报告要点 公司业绩稳健增长，高毛利业务占比提 升，看好公司吸附材料业务持续发展， 维持 买入 评级。 股价表现 (%) 今年 至今 1 个月 3 个月 12 个月 绝对 20.0 9.6 19.7 34.9 相对深圳成指 (4.8) (3.8) (3.7) (17.8) (1%) 11% 23% 35% 47% 59% Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 蓝晓科技 深圳成指 | 发行股数 (百万) | | 507.67 | | --- | --- | --- | | 流通股 (百万) | | 306.63 | | 总市值 (人民币 百万) | | 28,459.73 | | 3 个月日均交易额 (人民币 百万) | | 238.54 | | 主要股东 | | | | 寇晓康 | | 24.38% | | 资料来源：公司 ...

Group 1 - The establishment of Pucheng Lanxiao Biotechnology New Materials Co., Ltd. has been reported, with a registered capital of 20 million yuan [1] - The legal representative of the new company is Tian Xiaojun, and its business scope includes synthetic material manufacturing (excluding hazardous chemicals), synthetic material sales, new material technology research and development, and new material technology promotion services [1] - The company is wholly owned by Lanxiao Technology (300487) through indirect shareholding [1]

Market Performance - The basic chemical index increased by 1.11% from August 23 to August 29, while the CSI 300 index rose by 2.71%, indicating that the basic chemical sector underperformed the CSI 300 by 1.60 percentage points, ranking 11th among all sectors [1][2] - The top-performing sub-industries included nylon (5.68%), rubber additives (5.44%), potassium fertilizer (4.65%), food and feed additives (2.99%), and fluorochemicals (2.99%) [1][2] Chemical Product Price Trends - The top five products with the highest weekly price increases were NYMEX natural gas (11.11%), crude phenol (7.12%), niacinamide (5.78%), phenol oil (5.16%), and hydrofluoric acid (5.00%) [3] - The top five products with the largest weekly price declines included liquid chlorine (-75.00%), sodium (-6.78%), coal tar (-4.17%), anthracene oil (-4.11%), and lithium carbonate (industrial grade) (-4.09%) [3] Industry Dynamics - In the first half of 2025, the basic chemical sector achieved operating revenue of 1,123.83 billion yuan, a year-on-year increase of 3.03%, and a net profit attributable to shareholders of 69.72 billion yuan, up 4.43% year-on-year [4] - In Q2 2025, the sector reported operating revenue of 587.10 billion yuan, a year-on-year increase of 0.80% and a quarter-on-quarter increase of 9.38%, with a net profit of 35.72 billion yuan, down 2.66% year-on-year but up 5.03% quarter-on-quarter, indicating an improving trend in quarterly profitability [4] Company Performance Highlights - In the refrigerant sector, Juhua Co. reported H1 2025 operating revenue of 13.33 billion yuan, up 10.36% year-on-year, and a net profit of 2.05 billion yuan, up 145.84% year-on-year [6] - Sanmei Co. achieved H1 2025 operating revenue of 2.83 billion yuan, a 38.58% increase year-on-year, with a net profit of 999.5 million yuan, up 159.22% year-on-year [6] - In the agricultural chemicals sector, Yara International reported H1 2025 operating revenue of 2.52 billion yuan, a 48.54% increase year-on-year, and a net profit of 855 million yuan, up 216.64% year-on-year [7] - Salt Lake Co. reported H1 2025 operating revenue of 6.78 billion yuan, down 6.30% year-on-year, but a net profit of 2.52 billion yuan, up 13.69% year-on-year [7] Investment Recommendations - Current investment focus includes the refrigerant sector, with recommendations for companies like Jingshi Resources, Juhua Co., Sanmei Co., and Yonghe Co. [9] - The chemical fiber sector is also highlighted, with recommendations for Huafeng Chemical, Xin Fengming, and Taihe New Materials [9] - Other recommended companies include Wanhua Chemical, Hualu Hengsheng, Luxi Chemical, and Baofeng Energy [9] - The tire sector includes recommendations for Sailun Tire, Senqilin, and Linglong Tire [9] - In the agricultural chemicals sector, recommended companies include Yara International, Salt Lake Co., Xingfa Group, Yuntianhua, and Yangnong Chemical [9] - High-quality growth stocks to watch include Blue Sky Technology, Shengquan Group, and Shandong Heda [9] Industry Rating - The basic chemical industry maintains an "overweight" rating [10]

Group 1 - The company, Bluestar Technology (300487), announced that it will hold its first extraordinary general meeting of shareholders on September 10, 2025 [1] - The agenda for the meeting includes the review of a proposal to amend the company's articles of association among other items [1]

Meeting Information - The company will hold its first extraordinary general meeting of shareholders in 2025 on September 10, 2025, at 14:00 [1] - The meeting will utilize both on-site and online voting methods to facilitate shareholder participation [2] Voting Procedures - Shareholders can vote either in person or through a proxy, with the deadline for registration being September 5, 2025 [2][3] - The voting rules stipulate that each shareholder can only choose one voting method, either on-site or online, to avoid duplicate votes [2] Agenda Items - The meeting will review several proposals, including a significant proposal regarding the purchase of land use rights and investment in a high-end materials industrial park for life sciences [2][3] - Certain proposals require a special resolution, needing approval from more than two-thirds of the voting rights held by attending shareholders [3] Registration Process - Different registration requirements are outlined for corporate and individual shareholders, including necessary documentation for attendance [3][4] Online Voting - The company will provide a platform for online voting through the Shenzhen Stock Exchange systems, with detailed procedures available for shareholders [4][5]