Investment Rating - The report does not explicitly state an investment rating for the chemical industry Core Insights - In April 2025, the basic chemical index decreased by 3.61%, ranking 20th among primary industries, with 12 sub-industries showing growth and 20 experiencing declines [11][16][20] - The apparent consumption of methanol in China has surpassed 100 million tons for the first time [1] Market Overview - Major indices in April 2025 showed the following changes: Shanghai Composite Index -1.70%, Shenzhen Component Index -5.75%, ChiNext Index -7.40%, and North Securities 50 Index +4.72% [11] - The basic chemical sector's performance was mixed, with significant declines in rubber and related products, while daily chemical products and inorganic salts showed positive growth [16][20] Product Price Movements - The top ten products with price increases in April 2025 included Trichloroethylene (+16.28%), Ammonium Sulfate (+12.20%), and H Acid (+10.96%) [24][25] - Trichloroethylene prices rose significantly due to reduced production and strong demand in the refrigerant market [25][26] Sub-Industry Performance - Among the basic chemical sub-industries, the top five performers were daily chemicals (+8.56%), inorganic salts (+4.37%), and fluorochemicals (+3.46%), while polyurethane and tires saw the largest declines of -17.59% and -14.68%, respectively [16][19] - In April 2025, 221 companies in the basic chemical sector reported positive returns, while 319 reported negative returns [20] Company Performance - The top ten companies by monthly growth included United Chemical (+159.09%), Hongbaoli (+104.27%), and Zhongxin Fluorine Materials (+65.92%) [21][22] - Conversely, the bottom ten companies included Hunan YN (-22.18%), Dingjide (-22.54%), and Hengxing New Materials (-23.21%) [23][24] Industry News - In the first quarter of 2025, the chemical raw materials and products manufacturing industry achieved a total profit of 78.76 billion yuan, a slight decrease of 0.4% year-on-year [32] - Shandong province continues to enhance its chemical industry advantages, with 3,682 large-scale chemical enterprises and a revenue of 2.86 trillion yuan by the end of 2024 [32]

Investment Rating - The report maintains a recommendation for the chemical industry, indicating a positive outlook for the sector [6]. Core Viewpoints - The report highlights the significant price increases in active dyes (+10%) and PTA (+3.17%), suggesting potential investment opportunities in companies related to these products [4][20]. - It recommends focusing on companies like Huaitong Co., which is expected to benefit from the application of modified plastics in the robotics sector, and Runtong Co., which may gain from the rising prices of active dyes [5]. Industry Performance - In the first week of May, the chemical sector (Shenwan) experienced a decline of 0.50%, slightly underperforming the Shanghai A-share index, which fell by 0.49% [2][12]. - The dynamic PE ratio for the chemical sector stands at 24.05, which is lower than the average PE of 11.90 since 2015 [2][12]. Sub-industry Trends - Among the 15 sub-industries, five saw increases, with daily chemical products leading at +8.85%, while five sub-industries experienced declines, with synthetic leather dropping by -8.89% [3][15]. Price and Spread Trends - The report lists the top five products with the highest weekly price increases: active dyes (+10%), PTA (+3.17%), and butadiene (+2.86%) [4][20]. - The report also notes significant changes in price spreads, with the melamine spread increasing by +73.47% and the PTA spread by +39.52% [4][36]. Inventory Changes - Key products with notable inventory changes include potassium chloride (-17.88%) and epoxy propane (-8.96%), indicating shifts in supply dynamics [5][56].

Financial Performance - The company's total revenue is 23.0962 million yuan, ranking 75th among disclosed peers, a decrease of 37.025 million yuan compared to the same period last year, representing a year-on-year decline of 61.58% [1] - The net profit attributable to shareholders is -16.6785 million yuan, ranking 69th among disclosed peers [1] - The net cash inflow from operating activities is -19.0731 million yuan, ranking 47th among disclosed peers, a decrease of 12.7007 million yuan compared to the same period last year [1] Financial Ratios - The latest debt-to-asset ratio is 103.33%, ranking 75th among disclosed peers, an increase of 4.07 percentage points from the previous quarter and an increase of 24.59 percentage points from the same period last year [3] - The latest gross profit margin is -30.55%, ranking 75th among disclosed peers, a decrease of 14.62 percentage points from the previous quarter and a decrease of 27.32 percentage points from the same period last year [3] - The latest return on equity (ROE) is -147.09%, ranking 75th among disclosed peers, a decrease of 132.00 percentage points from the same period last year [3] Earnings Per Share and Turnover Ratios - The diluted earnings per share is -0.10 yuan, ranking 72nd among disclosed peers [4] - The latest total asset turnover ratio is 0.03 times, ranking 75th among disclosed peers, a decrease of 0.03 times compared to the same period last year, representing a year-on-year decline of 50.64% [4] - The latest inventory turnover ratio is 2.08 times [4] Shareholder Information - The number of shareholders is 8,931, with the top ten shareholders holding 56.5071 million shares, accounting for 35.31% of the total share capital [4] - The top shareholders and their respective holding percentages are as follows: - Guangdong Guoli Technology Holdings Co., Ltd. - 12.00% - Quanwei Green Energy Investment (Hainan) Co., Ltd. - 10.06% - Ge Xuyan - 3.83% - Dongguan Shenghe Weiye Investment Co., Ltd. - 3.37% - Chen Zewei - 1.37% - Gong Jianxin - 1.21% - Huang Kaikai - 1.05% - Shengyue Private Fund Management (Hainan) Co., Ltd. - 1.03% - Shenchip Micro (Shanghai) Semiconductor Technology Co., Ltd. - 0.78% - Huang Yongfei - 0.61% [4]

Summary of Key Points Core Viewpoints - The report highlights the ongoing trend of stock suspensions due to delisting risk warnings across multiple companies, indicating a potential downturn in market confidence and stability [2][3][4]. Company Listings - Several companies are scheduled for initial public offerings (IPOs) on April 29, 2025, including Tai Li Technology (301595) and Ze Run New Energy (301636), which may attract investor interest [1]. - The report notes the specific dates for various IPO-related activities, such as inquiry periods and fund unfreezing dates, which are crucial for market participants [1]. Stock Suspension Announcements - Numerous companies, including Guohua Network Security (000004) and Nanhua Biology (000504), have announced stock suspensions due to delisting risk warnings, reflecting a significant concern regarding their financial health [2][3]. - The report lists a total of 30 companies facing stock suspensions on April 29, 2025, due to various risk warnings, which may impact investor sentiment and trading volumes [2][3][4]. Special Suspensions - Companies like *ST Xu Lan (000040) and *ST Gong Zhi (000584) are highlighted for potential termination of listings, indicating severe financial distress and regulatory scrutiny [4][5]. - The report emphasizes the importance of monitoring these companies as their situations evolve, which could present both risks and opportunities for investors [4][5].

Core Viewpoint - The company focuses on the photovoltaic sector, emphasizing the development and production of high-efficiency heterojunction (HJT) solar cells and components, while divesting from less efficient rubber and plastic businesses to enhance operational efficiency [4][5][6]. Company Overview - The company is dedicated to the research, production, and sales of high-efficiency HJT solar cells and components, aiming to provide sustainable energy solutions globally [4][5]. - The company has established production bases in Zaozhuang, Shandong, and Sixian, Anhui, since its transition to the photovoltaic sector in 2022 [5][6]. Business Operations - The main business includes technology research and development, production, sales, and operation of HJT solar cells, components, and related services [5][6]. - The company has achieved over 30 patents in the photovoltaic sector and received multiple certifications, including TUV and CE [6]. Product Information - The primary product is high-efficiency HJT solar cell components, which are designed for high power output [7]. - The company employs a comprehensive product system integration service, covering all aspects from R&D to sales [6]. Research and Development - The R&D model is market-oriented, focusing on cost reduction and efficiency improvement, with a dedicated center for solar cell and component technology [9]. - The company has established a clear R&D process that includes application research, technology development, and market application [9]. Procurement and Production - The procurement strategy is based on sales forecasts, with long-term agreements with suppliers to ensure material availability [10]. - The production model is "sales-driven," with production plans aligned with customer orders and market conditions [11]. Sales Strategy - The sales approach combines direct sales and distribution, targeting both domestic and international markets [12]. - The company emphasizes industry engagement and technical services to enhance its market presence [12]. Financial Overview - The company has not reported any need for retrospective adjustments or restatements of previous financial data [18]. - There are no significant discrepancies between the reported financial indicators and previously disclosed quarterly or semi-annual reports [18].

证券代码：300716 证券简称：泉为科技 公告编号：2025-015 广东泉为科技股份有限公司 关于2024年度不进行利润分配的专项说明公告 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。 广东泉为科技股份有限公司（以下简称"公司"）于2025年4月27日召开第四届董 事会第三十四次会议、第四届监事会第三十次会议，审议通过了《关于公司<2024年度 利润分配预案>的议案》。现将相关情况公告如下： 一、利润分配预案的具体内容 经中兴财光华会计师事务所（特殊普通合伙）审计，公司 2024 年度归属于母公司 所有者的净利润-118,638,916.49 元，2024 年末未分配利润-617,792,438.19 元。 本年度公司利润分配预案为：不进行利润分配，亦不进行资本公积转增股本和其 他形式的分配。 二、2024年度不进行利润分配的原因 根据《上市公司监管指引第 3 号——上市公司现金分红》及《公司章程》等有关 规定，鉴于上市公司母公司当期可分配利润较少，2024 年末未弥补亏损金额超过实收 股本总额三分之一，累计未分配利润为负，故 2024 年度不进行利润分 ...

广东泉为科技股份有限公司 中兴财光华审会字（2025）第 223003 号 | 目录 | | --- | 审计报告 | 合并及公司资产负债表 | 1-2 | | --- | --- | | 合并及公司利润表 | 3 | | 合并及公司现金流量表 | 4 | | 合并及公司股东权益变动表 | 5-8 | | 财务报表附注 | 9-105 | 审计报告 中兴财光华审会字（2025）第 223003 号 广东泉为科技股份有限公司全体股东： 一、审计意见 我们审计了 广东泉为科技股份有限公司（以下简称泉为科技公司）财务报 表，包括 2024 年 12 月 31 日的合并及公司资产负债表，2024 年度的合并及公司 利润表、合并及公司现金流量表、合并及公司股东权益变动表以及财务报表附 注。 我们认为，后附的财务报表在所有重大方面按照企业会计准则的规定编制， 公允反映了泉为科技公司 2024 年 12 月 31 日的合并及公司财务状况以及 2024 年 度的合并及公司经营成果和现金流量。 二、形成审计意见的基础 我们按照中国注册会计师审计准则的规定执行了审计工作。审计报告的 "注册会计师对财务报表审计的责任"部分进一步阐 ...

关于广东泉为科技股份有限公司 2024 年度营业收入 扣除事项的专项核查意见 中兴财光华审专字（2025）第 223007 号 广东泉为科技股份有限公司： 我们接受委托，对广东泉为科技股份有限公司（以下简称泉为科技公司） 2024 年度财务报表进行审计，并出具了中兴财光华审会字（2025）第 223003 号审计报告。在此基础上，我们对泉为科技公司编制的《广东泉为科技股份 有限公司 2024 年度营业收入扣除情况表》（以下简称"营业收入扣除情况表"） 进行了核查。 一、管理层的责任 泉为科技公司管理层负责按照《深圳证券交易所股票上市规则》和《深圳 证券交易所上市公司自律监管指南第 1 号——业务办理》《深圳证券交易所创业 板股票上市规则》和《深圳证券交易所创业板上市公司自律监管指南第 1 号—— 业务办理》的规定编制营业收入扣除情况表，并设计、执行和维护必要的内部 控制，以使营业收入扣除情况表不存在由于舞弊或错误导致的重大错报。 中兴财光华审专字（2025）第 223007 号 目 录 关于广东泉为科技股份有限公司 2024 年度营 业收入扣除事项的专项核查意见 广东泉为科技股份有限公司 2024 年度营业收 ...

广东泉为科技股份有限公司 中兴财光华审专字（2025）第 223005 号 内部控制审计报告 中兴财光华审专字（2025）第223005号 广东泉为科技股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求， 我们审计了广东泉为科技股份有限公司（以下简称"泉为科技公司"）2024 年 12 月 31 日的财务报告内部控制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业 内部控制评价指引》的规定，建立健全和有效实施内部控制，并评价其有效 性是泉为科技公司董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的有效性发表 审计意见，并对注意到的非财务报告内部控制的重大缺陷进行披露。 三、内部控制的固有局限性 内部控制具有固有局限性，存在不能防止和发现错报的可能性。此外，由于 情况的变化可能导致内部控制变得不恰当，或对控制政策和程序遵循的程度降低， 根据内部控制审计结果推测未来内部控制的有效性具有一定风险。 四、导致否定意见的事项 重大缺陷是内部控制中存在的、可能导致不能及时防止或发现并纠正财务 ...

关于广东泉为科技股份有限公司 2024 年度财务报表 无保留意见审计报告中与持续经营相关的 重大不确定性段涉及事项的专项说明 中兴财光华审专字（2025）第 223017 号 关于广东泉为科技股份有限公司 2024 年度财务报表 无保留意见审计报告中与持续经营相关的重大不确定性段 涉及事项的专项说明 《中国注册会计师审计准则第 1324 号——持续经营》第二十一条规定，如 果运用持续经营假设是适当的，但存在重大不确定性，且财务报表对重大不确 定性已作出充分披露，注册会计师应当发表无保留意见，并在审计报告中增加 以"与持续经营相关的重大不确定性"为标题的单独部分，以提醒财务报表使用 者关注财务报表附注中与持续经营重大不确定性相关的事项或情况的披露；说 明这些事项或情况表明存在可能导致对被审计单位持续经营能力产生重大疑虑 的重大不确定性，并说明该事项并不影响发表的审计意见。 三、与持续经营相关的重大不确定性段涉及的事项不影响审计意见的依 据 中兴财光华审专字（2025）第 223017 号 广东泉为科技股份有限公司全体股东： 我们接受委托，审计了广东泉为科技股份有限公司（以下简称泉为科技公 司）2024 年度财务 ...