Market Overview - On August 29, the chemical products sector rose by 0.89%, with Aipu Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3857.93, up 0.37%, while the Shenzhen Component Index closed at 12696.15, up 0.99% [1] Top Gainers in Chemical Sector - Aipu Co., Ltd. (603020) closed at 10.87, up 10.02% with a trading volume of 402,700 shares and a turnover of 424 million yuan [1] - Jianye Co., Ltd. (603948) closed at 29.17, up 9.99% with a trading volume of 49,200 shares and a turnover of 144 million yuan [1] - AkzoNobel (603722) closed at 56.46, up 8.16% with a trading volume of 63,500 shares and a turnover of 347 million yuan [1] - JuHua Co., Ltd. (600160) closed at 38.69, up 6.88% with a trading volume of 792,300 shares and a turnover of 3.027 billion yuan [1] Top Losers in Chemical Sector - ST Quantai (300225) closed at 5.16, down 7.03% with a trading volume of 300,300 shares and a turnover of 159 million yuan [2] - Matsui Co., Ltd. (688157) closed at 40.36, down 6.57% with a trading volume of 55,000 shares and a turnover of 226 million yuan [2] - Kaimete Gas (002549) closed at 15.98, down 4.65% with a trading volume of 1,144,000 shares and a turnover of 1.873 billion yuan [2] Fund Flow Analysis - The chemical products sector experienced a net outflow of 1.219 billion yuan from institutional investors, while retail investors saw a net inflow of 701 million yuan [2] - The sector's overall fund flow indicates a mixed sentiment, with institutional selling and retail buying [2] Individual Stock Fund Flow - Sanmei Co., Ltd. (603379) had a net inflow of 90.6979 million yuan from institutional investors, while retail investors had a net outflow of 11.25% [3] - Newhan New Materials (301076) saw a net inflow of 90.5876 million yuan from institutional investors, with a retail net outflow of 8.07% [3] - Silicon Treasure Technology (300019) had a net inflow of 78.6861 million yuan from institutional investors, but retail investors experienced a net outflow of 5.19% [3]

其他化学制品Ⅲ 聚胶股份（301283.SZ） 买入-B(维持) 公司近一年市场表现 资料来源：最闻 市场数据：2025 年 8 月 28 日 | 收盘价（元）： | 43.49 | | --- | --- | | 年内最高/最低（元）： | 46.45/20.80 | | 流通A股/总股本（亿）： | 0.46/0.80 | | 流通 A 股市值（亿）： | 19.94 | | 总市值（亿）： | 34.97 | | 资料来源：最闻 | | | 基本每股收益(元)： | 1.02 | | --- | --- | | 摊薄每股收益(元)： | 1.02 | | 每股净资产(元)： | 19.80 | | 净资产收益率(%)： | 5.05 | | 资料来源：最闻 | | 李旋坤 执业登记编码：S0760523110004 邮箱：lixuankun@sxzq.com 王金源 执业登记编码：S0760525080001 卫材热熔胶 25Q2 淡季不淡，超强格局下持续成长 投资建议 卫材热熔胶竞争格局优异，行业拐点来临，育儿补贴政策或推动卫 材行业进一步修复，我们上调公司 25-27 年归母净利分别为 2.2/2. ...

Core Viewpoint - The company reported significant growth in revenue and net profit for the first half of 2025, driven by a decrease in raw material prices and international shipping costs, alongside expansion in domestic and international markets [1][2]. Financial Performance - In 1H25, the company achieved total revenue of 993 million yuan, a year-on-year increase of 5.47% [1] - The net profit attributable to shareholders reached 81 million yuan, up 41.38% year-on-year [1] - The net profit excluding non-recurring items was 73 million yuan, reflecting a 37.21% increase year-on-year [1] - In Q2 2025, total revenue was 490 million yuan, a 6.17% increase year-on-year [1] - The net profit attributable to shareholders for Q2 was 46 million yuan, showing a substantial increase of 74.59% year-on-year [1] - The net profit excluding non-recurring items for Q2 was 40 million yuan, up 61.30% year-on-year [1] Market Dynamics - The growth in performance is attributed to a decline in raw material prices and international shipping costs, as well as increased sales from expanding domestic and international markets [1] - The average value of China's export container freight index in 1H25 was 1252.63, down 8.2% year-on-year [1] - As of August 22, 2025, the index was 1174.87, reflecting a decrease of 24.1% since the beginning of the year, indicating potential for continued benefit to the company's performance [1] Global Expansion and Innovation - The company is actively promoting its global capacity layout, with overseas sales revenue accounting for 59.73% of total revenue, an increase of 6.56% year-on-year [2] - The company emphasizes independent innovation and has strengthened its research and development efforts to upgrade product formulations and accelerate new product commercialization [2] - The company is expanding its experienced overseas professional team and enhancing market promotion and brand building efforts [2] Future Outlook - The company is one of the four major suppliers of hot melt adhesives in the industry and has entered the supply chains of leading domestic and international hygiene product companies [2] - Future performance is expected to maintain rapid growth, with projected net profits for 2025-2027 of 163 million, 205 million, and 247 million yuan, representing year-on-year growth rates of 108.72%, 25.81%, and 20.18% respectively [2] - Corresponding price-to-earnings ratios are projected to be 21X, 17X, and 13X for the respective years [2]

据证券之星公开数据整理，近期聚胶股份（301283）发布2025年中报。截至本报告期末，公司营业总收 入9.93亿元，同比上升5.47%，归母净利润8112.42万元，同比上升41.38%。按单季度数据看，第二季度 营业总收入4.9亿元，同比上升6.17%，第二季度归母净利润4560.72万元，同比上升74.59%。本报告期 聚胶股份盈利能力上升，毛利率同比增幅27.16%，净利率同比增幅32.88%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率18.04%，同比增27.16%，净利率8.1%，同比增 32.88%，销售费用、管理费用、财务费用总计5107.47万元，三费占营收比5.14%，同比增7.52%，每股 净资产19.8元，同比增4.35%，每股经营性现金流6.44元，同比增907.75%，每股收益1.02元，同比增 41.78% 财务报表中对有大幅变动的财务项目的原因说明如下： 货币资金变动幅度为144.31%,原因:本期公司加强资金、付款及库存管理。 应收款项变动幅度为-8.94%,原因:应收账款达到信用收款条件收取款项，期末应收余额减少。 合同负债变动幅度为-30.87%,原因:本期客户预 ...

Core Viewpoint - JuJiao Co., Ltd. (301283.SZ) reported a decrease in institutional holdings in its A-shares, with a total of 23.58 million shares held by nine institutional investors, representing 29.33% of the total share capital, down by 1.16 percentage points from the previous quarter [1] Institutional Holdings - As of August 25, 2025, nine institutional investors disclosed their holdings in JuJiao Co., Ltd., totaling 23.58 million shares, which accounts for 29.33% of the company's total share capital [1] - The institutional investors include Guangzhou JuJiao Enterprise Management Co., Ltd., Zibo Fufeng Hongjin Investment Partnership (Limited Partnership), and several funds from Penghua [1] - The overall institutional holding percentage decreased by 1.16 percentage points compared to the previous quarter [1] Public Fund Holdings - Three public funds reduced their holdings compared to the previous quarter, including Penghua Anqing Mixed A, Penghua Anhe Mixed A, and Penghua Anjin One-Year Holding Period Mixed A, with a slight decline in the holding percentage [1] - One new public fund disclosed its holdings during this period, which is the Western Lide Quantitative Preferred One-Year Holding Period Mixed A [1]

每经AI快讯，聚胶股份（SZ 301283，收盘价：42.49元）8月25日晚间发布公告称，公司第二届第十八 次董事会会议于2025年8月22日在公司会议室以现场结合通讯方式召开。会议审议了《关于<2025年半 年度报告>及其摘要的议案》等文件。 2024年1至12月份，聚胶股份的营业收入构成为：卫材热熔胶占比99.8%，其他业务占比0.17%，其他占 比0.02%。 每经头条（nbdtoutiao）——租下2.5万亩"试验田"，兽医学博士在非洲种粮：首季亩产250斤，打算扩至 10万亩，月薪1~2万元招人 （记者 胡玲） ...

Core Viewpoint - The company reported a revenue of 993 million yuan for the first half of 2025, reflecting a year-on-year growth of 5.47% [1] - The net profit attributable to shareholders reached 81.12 million yuan, marking a significant year-on-year increase of 41.38% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 73.29 million yuan, which is a year-on-year growth of 37.21% [1] - The basic earnings per share stood at 1.0241 yuan [1]

每经AI快讯，8月25日，聚胶股份公告，广州科金聚创创业投资合伙企业（有限合伙）已通过集中竞价 交易减持792,209股，占比0.99%，减持均价为32.32元/股；通过大宗交易减持1,300,814股，占比1.62%， 减持均价为31.68元/股。合计减持2,093,023股，占总股本的2.60%。减持后，科金聚创不再持有公司股 份。 （文章来源：每日经济新闻） ...

国泰海通证券股份有限公司关于聚胶新材料股份有限公司 2025年半年度持续督导跟踪报告 | 保荐人名称：国泰海通证券股份有限公司 | 被保荐公司简称：聚胶股份 | | --- | --- | | 保荐代表人姓名：许一忠 | 联系电话：021-38676666 | | 保荐代表人姓名：肖峥祥 | 联系电话：021-38676666 | 一、保荐工作概述 二、保荐人发现公司存在的问题及采取的措施 | 事项 | 存在的问题 | 采取的措施 | | --- | --- | --- | | 1、信息披露 | 无 | 不适用 | | 2、公司内部制度的建立 和执行 | 无 | 不适用 | | 3、"三会"运作 | 无 | 不适用 | | 4、控股股东及实际控制 人变动 | 无 | 不适用 | 2 | 事项 | 存在的问题 | 采取的措施 | | --- | --- | --- | | | 1、为了尽快启动马来西亚项目，聚胶马来 户支付项目支出；同时，为了降低租赁合 目厂房租金，相关问题已于 2025 年 4 月 置换完毕。具体参见《聚胶新材料股份有 | 年 1、2025 4 月，公 计划，将部分超募资 | | | 西亚前期 ...

聚胶新材料股份有限公司（以下简称"公司"）于 2025 年 8 月 22 日召开第 二届董事会第十八次会议，审议通过了《关于公司申请银行授信额度的议案》， 同意公司（包含纳入合并范围内的子公司）拟向银行申请不超过人民币 6 亿元（或 等值外币）的综合授信额度。本次申请银行授信额度后，公司及子公司拟向银行 申请的综合授信额度合计不超过人民币 11 亿元（或等值外币），有效期为本次董 事会审议通过之日至 2026 年 2 月 23 日，现将具体情况公告如下： 一、已审批授信额度的情况 公司于 2024 年 8 月 16 日召开了第二届董事会第十次会议，审议通过了《关 于公司申请银行授信额度的议案》，同意公司（包含纳入合并范围内的子公司） 向银行申请不超过人民币 6 亿元（或等值外币）的综合授信额度，有效期自公司 第二届董事会第十次会议审议通过之日起 12 个月内。具体内容详见公司于 2024 年 8 月 20 日在巨潮资讯网上披露的《关于公司申请银行授信额度的公告》（公告 编号：2024-055）。 证券代码：301283 证券简称：聚胶股份 公告编号：2025-048 聚胶新材料股份有限公司 关于公司申请银行授 ...