证券代码：300910 证券简称：瑞丰新材 公告编号：2026-004 新乡市瑞丰新材料股份有限公司 关于公司对外投资并设立合资公司的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、对外投资并设立合资公司的概述 新乡市瑞丰新材料股份有限公司（以下简称"公司"）于 2025 年 10 月 27 日召开第四届董事会第十一次会议，审议通过了《关于公司对外投资并设立合资 公司的议案》。具体内容详见公司于 2025 年 10 月 28 日披露于巨潮资讯网 （www.cninfo.com.cn）的《关于公司对外投资并设立合资公司的公告》（公告 编号：2025-051）。 为贯彻执行公司的战略规划和发展目标，优化业务布局，满足区域客户的配 套需求，增强公司在全球市场的综合竞争力，公司全资子公司瑞丰润滑油添加剂 （香港）有限公司（以下简称"瑞丰香港"）拟与沙特阿拉伯公司 Farabi Downstream Company（简称"法拉比下游公司"）在沙特阿拉伯延布市设立合资公司瑞丰法 拉比润滑油添加剂公司（简称"瑞丰法拉比"）（暂定名称，最终名称以相关部 门的备案 ...

Investment Rating - The report maintains a "Positive" rating for the chemical industry [4][3]. Core Insights - The macroeconomic outlook for the chemical industry indicates a stable increase in oil demand due to global economic recovery and tariff adjustments, with Brent crude oil expected to remain in the range of $60-75 per barrel [4][5]. - The report highlights a potential spring boom in the chemical sector, driven by the success of domestic robotics showcased during the Spring Festival and favorable export conditions following tariff reductions [4][3]. - Investment opportunities are identified in various chains, including textiles, agricultural chemicals, and overseas real estate, with specific companies recommended for investment [4][3]. Industry Dynamics - Oil supply is tightening due to OPEC+ production delays and peak shale oil output, while demand is stabilizing with improved global economic conditions [5]. - The chemical industry is at a cyclical turning point, with downstream operations gradually resuming post-holiday, indicating a positive demand outlook for the year [4][3]. - The report notes that the Producer Price Index (PPI) for industrial products decreased by 1.4% year-on-year in January, while the manufacturing PMI recorded 49.3, indicating some volatility in manufacturing activity [7][4]. Investment Analysis - The report suggests a diversified investment strategy focusing on four key areas: textiles, agricultural chemicals, export chains, and beneficiaries of "anti-involution" policies [4][3]. - Specific companies to watch include those in the textile chain like Lu Xi Chemical and Tongkun Co., and in the agricultural chain like Hualu Hengsheng and Baofeng Energy [4][3]. - The report emphasizes the importance of self-sufficiency in key materials, particularly in semiconductor and panel materials, recommending companies such as Yake Technology and Ruilian New Materials [4][3].

减持细节：减持计划于2025年11月披露，原定减持期间为2025年11月25日至2026年2月24日，但于2026 年2月13日提前终止。主要减持人员包括副总经理尚庆春（减持29.25万股）、马振方（减持15.98万股） 等，减持均价区间为57.67–65.55元/股。 股价表现：减持期间（2025年12月至2026年2月），公司股价区间振幅达11.89%，近期收盘价57.02元 （2026年2月13日），较减持初期（2025年11月底）下跌约5.74%。减持未对股价造成剧烈冲击，但短 期波动性有所上升。 公司基本面 财务健康度：公司基本面稳健，2025年前三季度营收25.51亿元（同比+10.87%），归母净利润5.74亿元 （同比+14.85%），毛利率35.86%。减持后董监高合计持股比例降至1.84%，但核心管理层仍持有较多 股份，治理结构未受实质影响。 现金流与资产效率：本次减持为个人资产规划，公司现金流充足，2025年预测净利润增速12.27%（机 构共识），无负债压力。 行业板块情况 经济观察网 瑞丰新材（300910）近期高管减持事件主要涉及6名董监高提前终止减持计划，实际累计减 持78.52 ...

Core Insights - The chemical industry is at the beginning of a new prosperity cycle globally, with Chinese chemical companies showing stronger profit foundations and elasticity due to past expansions and capital expenditures [5][11][29] - Focus on cyclical chemical products, particularly those with resource attributes and potential in the real estate chain [4][5] - The demand from major economies like China and the US is expected to improve, with China's GDP projected to exceed 140 trillion yuan, growing at 5.0% year-on-year [5][22] Group 1: Global and Domestic Chemical Landscape - The global chemical landscape is improving, with China's chemical sector becoming more resilient [9][12] - China's share of the global chemical market has significantly increased from 13% in 2004 to 47% in 2024, indicating its growing importance in the global chemical industry [14][29] - The capital expenditure in the global chemical sector has paused, with many overseas chemical companies reducing production, which may benefit Chinese companies [14][16] Group 2: Resource Attributes in Chemical Products - Three main resource directions are emphasized: mineral resources (like phosphate and potash), indicator resources (such as pesticides and refrigerants), and channel resources (like compound fertilizers) [5][33] - China's phosphate reserves rank second globally, with a steady increase in demand driven by both traditional fertilizer needs and emerging sectors like lithium iron phosphate for batteries [33][36] - The supply of fertilizers is expected to contract in 2025, with production of monoammonium phosphate and diammonium phosphate projected to decrease by 6.73% and 6.86% respectively [39] Group 3: Real Estate Chain Chemical Products - The market currently has low expectations for the recovery of demand in the real estate chain, but there is potential for significant improvement due to government stimulus policies [5][22] - The supply concentration of chemical products related to the real estate chain is gradually increasing, which may lead to faster and easier supply-demand improvements [5] Group 4: New Materials and Domestic Substitution - The report highlights the importance of domestic substitution and the development of new materials in line with China's strategic plans for emerging industries [7][8] - Key areas of focus include lubricating oil additives, semiconductor materials, and bio-based materials [7] Group 5: Investment Recommendations - Suggested companies for investment include Hualu Chemical, Xin Fengming, Yuntianhua, and others, focusing on those with strong market positions and innovative capabilities [7][8]

证券代码：300910 证券简称：瑞丰新材 公告编号：2026-003 新乡市瑞丰新材料股份有限公司 关于部分董事及高级管理人员股份减持计划 提前终止暨减持结果的公告 公司董事、副总经理、董事会秘书、财务负责人尚庆春先生、董事、副总 经理李万英女士、副总经理马振方先生、副总经理范金凤女士、副总经理郑天 骄女士及王少辉先生保证向本公司提供的信息内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一 致。 新乡市瑞丰新材料股份有限公司（以下简称"公司"）于2025年11月3日在 巨潮资讯网披露了《关于部分董事及高级管理人员减持股份预披露公告》（公告 编号：2025-053）（以下简称"本次减持计划"）。 1、持有新乡市瑞丰新材料股份有限公司（以下简称"公司"、"瑞丰新材"） 股份2,280,948股（占公司总股本比例0.77%，占剔除回购专用账户股份数量后公 司股份总数的0.79%）的董事、副总经理、董事会秘书、财务负责人尚庆春先生 计划以集中竞价交易方式拟减持公司股份不超过570,200股，减持比例不超过公 司总股本的0.19%，占剔除回购专 ...

Group 1 - Fuda Alloy's controlling shareholder Wang Dawu plans to reduce his stake by up to 3% of the company's total shares, amounting to a maximum of 406.34 million shares, due to personal funding needs [1] - ST Songfa's subsidiary signed contracts for the construction of 17 vessels, with a total contract value between 1.6 billion to 1.8 billion USD [2] - Pairui Co. signed a technical cooperation agreement with a university to develop large-capacity power semiconductor devices and related power electronic modules, effective for three years [3] Group 2 - Shuangliang Energy indirectly participates in commercial aerospace projects, supplying heat exchangers for SpaceX's fuel production system, with orders totaling approximately 1.39 million CNY [4] - Hangya Technology plans to issue convertible bonds to raise up to 600 million CNY for various projects, including an intelligent manufacturing base in Malaysia [5] - Yuhua Development is publicly selling assets with a base price of 251 million CNY for residential properties [6] Group 3 - Penghui Energy plans to invest 2.1 billion CNY in a new battery production project in Zhengyang County, Henan Province, focusing on high-performance battery products [7] - Haige Communication's shareholder Yang Haizhou intends to reduce his stake by up to 0.1624% of the company's total shares [8] - Yaoshi Technology's controlling shareholder pledged 5.13% of shares to repay loans, with a pledge period from February 10, 2026, to February 2, 2027 [9][10] Group 4 - Hanyu Pharmaceutical received FDA approval for its drug Acetate Glatiramer Injection, used for treating relapsing multiple sclerosis [11] - Baiyao Tai's GoliMab Injection received EMA approval for various indications, including rheumatoid arthritis and ulcerative colitis [12] - Jiangxi Tungsten Equipment plans to issue A-shares to raise up to 1.882 billion CNY for acquisitions [13] Group 5 - Hesong New Materials expects to recognize asset impairment provisions between 23.6 million to 28.5 million CNY for 2025 [14] - ST Meichen's subsidiary is involved in two major lawsuits with a total amount of approximately 31.9 million CNY [15] - China Coal Energy reported a 7.3% year-on-year decline in coal sales for January 2026, with total sales of 20.05 million tons [16] Group 6 - Yida Co. plans to adjust its epoxy propylene derivative project, reducing the total investment from 845 million CNY to 642 million CNY [17] - Fosun Pharma's subsidiary received approval for a clinical trial of HLX15-SC for multiple myeloma treatment [18][19] - Yinfeng Communication's board members and executives have terminated their share reduction plan [20] Group 7 - Huazhong High-tech has waived its preferential purchase rights for a fund, extending the investment period from three to four years [21] - Warner Pharmaceuticals plans to participate in a national drug procurement program, with expected sales of 176 million CNY [22] - Changling Hydraulic announced a tender offer to acquire 12% of its shares at a price of 35.82 CNY per share [23] Group 8 - ST Chuan Zhi's stock may face delisting due to financial data falling below regulatory thresholds [24] - Tian Pharmaceutical and its subsidiaries are participating in a national drug procurement program, with expected sales of 323 million CNY [25] - China Metallurgical Group signed new contracts worth 73.65 billion CNY in January 2026 [26] Group 9 - Torus plans to invest 21.2 million CNY in a venture capital fund focused on artificial intelligence [27] - Shangwei Co. received a government subsidy of 1.764 million CNY, representing 10.79% of its net profit for 2024 [28] - Hanghua Co. reported a 21.97% decline in net profit for 2025, with total revenue of 1.249 billion CNY [29] Group 10 - Huaxia Bank reported a 1.72% decline in net profit for 2025, with total revenue of 91.914 billion CNY [30] - Guotou Fengle plans to transfer 51% of its stake in Hubei Fengle Ecological Fertilizer to optimize management [31] - Huaru Technology is co-investing in a fund with a total commitment of 20 million CNY [32] Group 11 - Jindike reported a loss of 173 million CNY for 2025, despite a 40.13% increase in revenue [33] - Zhenong Co. announced a 0.52% increase in shares held by a major shareholder [34] - Maike Audi plans to recognize asset impairment provisions of approximately 52.55 million CNY [35] Group 12 - Fuan Pharmaceutical's subsidiary is expected to be selected for a national drug procurement program, with projected sales of 680 million CNY [36] - Rundu Co. is participating in a national drug procurement program, with some products expected to be selected [37] - Changqing Co. has postponed its large-scale die-casting project to March 2027 due to customer requirements [38] Group 13 - Pan Asia Micro透 received a patent for a graphene-based automotive headlight defogging device [39] - Luan An Huan Neng reported a 17.1% increase in raw coal production for January 2026, totaling 5 million tons [40] - Guangji Pharmaceutical received a drug registration certificate for Mecobalamin Tablets [41] Group 14 - Ruifeng New Materials announced the resignation of its deputy general manager for personal reasons [42] - Zhiguang Electric's subsidiary signed a procurement contract for energy storage equipment worth 210.4 million CNY [43] - Youyan Powder Materials reported a 19.41% increase in net profit for 2025 [44] Group 15 - Jincheng reported a 22.2% increase in net profit for 2025, with total revenue of 253 million CNY [46]

Group 1 - The company, Ruifeng New Materials, announced the resignation of its Vice President, Wang Shaohui, due to personal reasons [2] - Wang Shaohui's term was originally set to last until the expiration of the fourth board of directors on July 4, 2027 [2]

Core Viewpoint - The company announced the resignation of its Vice President Wang Shaohui due to personal reasons, which will not affect the company's normal operations and management [1] Group 1 - Wang Shaohui's original term as Vice President was set to end on July 4, 2027 [1] - After resigning from the Vice President position, Wang Shaohui will continue to hold a position within the company [1] - As of the announcement date, Wang Shaohui holds 1.2421 million shares of the company, accounting for 0.42% of the total share capital [1]

证券代码：300910 证券简称：瑞丰新材 公告编号：2026-002 关于公司副总经理辞职的公告 公司董事会对王少辉先生在任职期间的勤勉尽责、辛勤付出以及为公司规范 运作、稳健发展所做出的贡献表示衷心的感谢！ 特此公告。 新乡市瑞丰新材料股份有限公司董事会 2026年2月12日 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。 新乡市瑞丰新材料股份有限公司（以下简称"公司"）董事会于近日收到公 司副总经理王少辉先生递交的书面辞职报告。王少辉先生因个人原因辞去公司副 总经理职务。王少辉先生担任公司副总经理的原定任期至第四届董事会届满之日 （2027年7月4日）为止。根据《公司法》《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》《公司章程》等相关规定，王少辉先生 的辞职申请自送达董事会之日起生效，其辞职不会对公司的正常运作及经营管理 产生影响。王少辉先生辞去副总经理职务后仍将在公司任职。 截至本公告披露日，王少辉先生持有公司股份1,242,107股，占公司总股本的 0.42%。王少辉先生不存在应当履行而未履行的承诺事项。辞职后，王少辉先生 ...

Investment Rating - The report maintains a "Buy" rating for several companies including Xinyangfeng, Senqilin, Ruifeng New Materials, Sinopec, Juhua, Yangnong Chemical, CNOOC, Tongkun, Daotong Technology, and others [10]. Core Views - The report highlights significant price increases in products such as p-nitrochlorobenzene (up 27.91%) and LLDPE (up 24.72%), while products like natural gas and LDPE saw substantial declines [6][18]. - It suggests focusing on investment opportunities in areas such as import substitution, domestic demand, and high dividend stocks, particularly in light of fluctuating international oil prices [6][19]. - The report anticipates that international oil prices will stabilize around $65 per barrel in 2026, influenced by geopolitical uncertainties and expectations of price declines [19]. Summary by Sections Product Price Movements - Notable price increases this week include p-nitrochlorobenzene (27.91%), LLDPE (24.72%), and liquid chlorine (20.90) [18]. - Conversely, significant declines were observed in natural gas (-22.34%) and LDPE (-18.02%) [5][21]. Industry Performance - The chemical industry remains in a weak position overall, with mixed performance across sub-sectors due to past capacity expansions and weak demand [21]. - Specific sectors like the glyphosate industry are showing signs of potential recovery, with decreasing inventories and rising prices, suggesting a possible entry into a favorable cycle [21]. Investment Recommendations - The report recommends focusing on companies with strong competitive positions and growth potential, such as Ruifeng New Materials and Baofeng Energy [21]. - It emphasizes the importance of domestic chemical fertilizer and pesticide sectors, which are expected to maintain stable demand due to self-sufficiency [21]. - The report also highlights the benefits for major oil companies like Sinopec, which are expected to gain from lower raw material costs due to declining oil prices [21].