基础化工行业 行业研究 | 行业周报 本周油价上涨，液氯、美国天然气、MDI 价格上涨 核心观点 | 看好高速覆铜板树脂材料的发展机遇 | 2025-05-09 | | --- | --- | | 油价走弱，继续关注内需及国产替代新材 | 2025-05-06 | | 料机会 | | | 油价震荡走势，继续关注内需及国产替代 | 2025-04-29 | | 新材料机会 | | 原油相关信息： ⚫ 原油及相关库存：2025 年 5 月 2 日美国原油商业库存 4.384 亿桶，周减少 200 万 桶；汽油库存 2.257 亿桶，周增加 20 万桶；馏分油库存 1.067 亿桶，周减少 110 万 桶；丙烷库存 0.48176 亿桶，周增加 97.0 万桶。美国原油产量及钻机数：2025 年 5 月 2 日美国原油产量为 1336.7 万桶/天，周度减少 9.8 万桶/天，较一年前增加 26.7 万桶/天。2025 年 5 月 9 日美国钻机数 578 台，周减少 6 台，年减少 25 台；加拿大 钻机数 114 台，周减少 6 台，年减少 2。其中美国采油钻机 474 台，周度减少 5 台， 年度减少 22 ...

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。 关于参加 2025 年山东辖区上市公司投资者 特此公告！ 网上集体接待日活动暨 2024 年度业绩说明会的公告 山东潍坊润丰化工股份有限公司 证券代码：301035 证券简称：润丰股份 公告编号：2025-026 山东潍坊润丰化工股份有限公司 山东潍坊润丰化工股份有限公司（以下简称"公司"）于 2025 年 4 月 25 日在巨潮资讯网（www.cninfo.com.cn）披露了《2024 年年度报告》全文及摘要。 为进一步加强与投资者的互动交流，山东潍坊润丰化工股份有限公司（以下简称 "公司"）将参加由山东证监局、山东上市公司协会与深圳市全景网络有限公司 联合举办的"2025 年山东辖区上市公司投资者网上集体接待日活动"，现将相 关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net）；或关注微信公众号（名称：全景财经）；或下载全景 路演 APP，参与本次互动交流。活动时间为 2025 年 5 月 15 日（周四）15:00-16:30。 届时公司 ...

基础化工行业 行业研究 | 行业周报 本周油价上涨，液氯、美国天然气、MDI 价格上涨 核心观点 原油相关信息： ⚫ 原油及相关库存：2025 年 5 月 2 日美国原油商业库存 4.384 亿桶，周减少 200 万 桶；汽油库存 2.257 亿桶，周增加 20 万桶；馏分油库存 1.067 亿桶，周减少 110 万 桶；丙烷库存 0.48176 亿桶，周增加 97.0 万桶。美国原油产量及钻机数：2025 年 5 月 2 日美国原油产量为 1336.7 万桶/天，周度减少 9.8 万桶/天，较一年前增加 26.7 万桶/天。2025 年 5 月 9 日美国钻机数 578 台，周减少 6 台，年减少 25 台；加拿大 钻机数 114 台，周减少 6 台，年减少 2。其中美国采油钻机 474 台，周度减少 5 台， 年度减少 22 台。 价格变化： 价差变化： 投资建议与投资标的 风险提示 ⚫ 项目进展不及预期；需求不及预期；海外市场供需情况变化；油价大幅波动。 国家/地区 中国 行业 基础化工行业 报告发布日期 2025 年 05 月 12 日 看好（维持） | 倪吉 | 021-63325888*7504 ...

业 及 产 业 基础化工 本研究报告仅通过邮件提供给 中庚基金 使用。1 2025 年 05 月 11 日 氯氰菊酯反倾销落地，氮肥出口或 有序放开，重点关注低估值高成长 标的 看好 ——《化工周报 25/05/06-25/05/09》 证 券 研 究 报 告 证券分析师 马昕晔 A0230511090002 maxy@swsresearch.com 宋涛 A0230516070001 songtao@swsresearch.com 研究支持 邵靖宇 A0230524080001 shaojy@swsresearch.com 任杰 A0230522070003 renjie@swsresearch.com 赵文琪 A0230523060003 zhaowq@swsresearch.com 周超 A0230123090004 zhouchao@swsresearch.com 李绍程 A0230124070001 lisc@swsresearch.com 联系人 马昕晔 (8621)23297818× maxy@swsresearch.com 本期投资提示： 请务必仔细阅读正文之后的各项信息披露与声明 行 行 业 ...

Investment Rating - The report maintains an "Outperform" rating for the company [1][9]. Core Views - The company's profit in 2024 was significantly impacted by exchange rate losses, but channel expansion is progressing well. Revenue is expected to grow significantly in 2025, with an improved gross profit margin (GPM). There is optimism regarding increased profit flexibility from the European and American markets in 2025-2026. The earnings per share (EPS) forecasts for 2025-2027 are RMB 3.65, 4.83, and 5.95, respectively, with a 2025 price-to-earnings (PE) ratio of 20.0x, setting a target price of RMB 73.00 [1][9]. Financial Summary - In 2024, the company achieved revenue of RMB 13.30 billion, a year-on-year increase of 15.77%, while the net profit attributable to shareholders was RMB 450 million, a decrease of 41.63% year-on-year. The fourth quarter of 2024 saw revenue of RMB 3.51 billion, up 18.38% year-on-year, but down 14.44% quarter-on-quarter, with a net profit of RMB 109 million, up 119.23% year-on-year, but down 32.08% quarter-on-quarter [2][4][9]. - For the first quarter of 2025, the company reported revenue of RMB 2.69 billion, a slight decrease of 0.26% year-on-year and a 23.49% decrease quarter-on-quarter, with a net profit of RMB 257 million, reflecting a year-on-year increase of 67.98% and a quarter-on-quarter increase of 136.59% [4][9]. Business Development - The company focused on growing its direct-to-consumer (TO C) business in 2024, with the revenue share rising from 33.82% in 2023 to 37.65% in 2024. The GPM for the TO C business was 28.99%, an increase of 0.09% year-on-year. The share of revenue from the EU and North American markets increased from 5.69% in 2023 to 9.75% in 2024. Additionally, the revenue share from insecticides and fungicides rose from 25.41% in 2023 to 25.71% in 2024 [4][9]. - The company strengthened its biopharmaceutical segment by forming a global team, achieving first-year sales of approximately USD 10 million. In 2024, it obtained over 1000 new registrations, totaling over 7700 pesticide registrations by December 31, 2024, including new registrations in countries such as the USA, Canada, and Italy [4][9].

Investment Rating - The report maintains an "Outperform" rating for the company [1][9]. Core Views - The company's profit in 2024 was significantly impacted by exchange rate losses, but channel expansion is progressing well. Revenue is expected to grow significantly in 2025, with an improved gross profit margin (GPM). There is optimism regarding increased profit flexibility from the European and American markets in 2025-2026 [1][9]. - The company reported a revenue of RMB 13.30 billion for 2024, representing a year-on-year increase of 15.77%, while the net profit attributable to shareholders was RMB 450 million, down 41.63% year-on-year. In Q1 2025, the revenue was RMB 2.69 billion, a slight decrease of 0.26% year-on-year, but the net profit attributable to shareholders increased by 67.98% year-on-year to RMB 257 million [4][9]. - The company focused on growing its TO C business in 2024, with the revenue share rising from 33.82% in 2023 to 37.65% in 2024. The GPM for the TO C business was 28.99%, up 0.09% year-on-year [4][9]. - The company has strengthened its biopharmaceutical segment, achieving first-year sales of approximately USD 10 million and obtaining over 1000 new pesticide registrations, totaling over 7700 registrations by the end of 2024 [4][9]. Financial Summary - For 2024, the company achieved a revenue of RMB 13.30 billion, with a year-on-year growth of 15.77%. The net profit attributable to shareholders was RMB 450 million, down 41.63% year-on-year. The Q4 2024 revenue was RMB 3.51 billion, up 18.38% year-on-year, while the net profit was RMB 109 million, up 119.23% year-on-year [2][4][9]. - The forecasted earnings per share (EPS) for 2025-2027 are RMB 3.65, 4.83, and 5.95, respectively, with a 2025 price-to-earnings (PE) ratio of 20.0x, setting a target price of RMB 73.00 [1][9].

Investor Presentation 2024 Annual Report 2025 Quarter 1 Report Rainbow Global Global Operation Center Manufacturing Base Subsidiary / Office R&D Centers 27.48 17.21 28.62 22.33 18.90 24.86 22.99 25.47 24.06 25.18 24.48 18.77 24.92 22.54 26.93 14.39 11.95 17.43 14.43 15.41 17.10 22.21 21.83 23.11 19.57 19.25 19.75 18.51 10.50 15.96 12.83 18.75 20.70 21.33 17.99 14.67 13.82 14.42 13.21 10.00 12.00 14.00 16.00 18.00 20.00 22.00 24.00 26.00 28.00 30.00 1 2 3 4 5 6 7 8 9 10 11 12 2025 2024 2023 2022 • The total ...

complete, without false records, misleading statements, or material omissions. The Annual Financial Report of 2024 To be a Global Leading Crop Protection Company Stock code: 301035 Stock abbreviation: Rainbow Agro Announcement No.: 2025-024 SHANDONG WEIFANG RAINBOW CHEMICAL CO., LTD The Annual Financial Report of 2024 The Company and all members of the Board of Directors warrant that the information disclosed is true, accurate, and 1. Consolidated balance sheet Prepared by: Shandong Weifang Rainbow Chemical ...

The First Quarter Financial Report of 2025 To be a Global Leading Crop Protection Company Stock code: 301035 Stock abbreviation: Rainbow Agro Announcement No.: 2025-025 SHANDONG WEIFANG RAINBOW CHEMICAL CO., LTD The First Quarter Financial Report of 2025 The Company and all members of the Board of Directors warrant that the information disclosed is true, accurate, and complete, without false records, misleading statements, or material omissions. 1. Consolidated balance sheet Prepared by: Shandong Weifang Ra ...

证券代码：301035 证券简称：润丰股份 公告编号：2025-023 山东潍坊润丰化工股份有限公司 为满足公司生产经营需求，山东潍坊润丰化工股份有限公司（以下简称"公 司"）拟向平安银行股份有限公司潍坊分行申请综合授信额度人民币 5 亿元、敞 口 2 亿元，全资子公司山东润科国际贸易有限公司为上述事项提供担保，金额不 超过 2.60 亿元人民币。 根据《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》和《公司章程》等相关规定，上述担保事项已经山东润科国际贸易有限 公司履行审议程序通过，无需提交公司董事会审议。 二、被担保人基本情况 1、被担保人基本信息 公司名称：山东潍坊润丰化工股份有限公司 类型：股份有限公司（外商投资、上市） 成立日期：2005 年 6 月 23 日 住所：山东省潍坊市滨海经济开发区氯碱路 03001 号 关于全资子公司为公司提供担保的公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、担保情况概述 法定代表人：王文才 注册资本：28,077.0974 万元 经营范围： 许可项目：农药生产；农药批发；农药零售 ...