产能释放叠加养殖集团冲年度销量，双重因素影响下，养殖端12月计划出栏量环比增加，增幅为 3.77%。12月生猪需求端存有增加预期，但出栏量也逐步增加，同时冻品库容率存下滑走势，供应大于 需求的局面仍在，或使得猪价承压下滑。 12月养殖端出栏计划环比增加3.77% 据卓创资讯统计，12月养殖端计划出栏量环比增加3.77%，其中增加幅度最大的是福建省，环比增幅为 14.50%；环比减幅最大的是浙江省，环比减幅为36.09%。12月养殖端计划出栏量环比增加，猪源供应 充沛，12月猪价存下行压力。 12月生猪需求存增加预期 按照往年的生猪屠宰量季节性走势来看，12月生猪屠宰量环比11月将明显增加。随着气温下降对终端需 求的刺激以及南方腌腊进入传统旺季，生猪需求端存有增加预期。但据卓创资讯实地调研了解到，随着 人口老龄化加深以及人们生活水平的提高，腌腊量逐年减少，因此，12月腌腊量或不及市场预期，生猪 需求端增量有限。 供大于求的局面或使得12月猪价承压下滑 12月生猪需求端将有增加，但出栏量持续增加进一步夯实了市场"供大于求"的基本面。12月4日全国外 三元生猪均价已降到11.18元／公斤，月初的涨幅开始回吐。而且1 ...

Core Viewpoint - The sugar prices in Guangxi are experiencing a downward trend due to increasing new sugar supply, leading to a shift from profit to loss for sugar factories [1][2][6]. Supply and Demand Analysis - In mid-November, the sugar price in Guangxi peaked at 5725 yuan/ton due to low inventory levels, but as new sugar supply increased, prices fell below 5000 yuan/ton by December 2, averaging 5475 yuan/ton, a decrease of 3.86% month-on-month and 10.32% year-on-year [2]. - The overall sugar production in Guangxi for the 2024/25 season is projected at 6.465 million tons, accounting for approximately 57.92% of the national total, with a slight increase expected in the following season despite adverse weather conditions [4]. - The number of sugar factories operating in Guangxi has decreased by 22 year-on-year, impacting the supply dynamics [4]. Cost and Profitability - The theoretical sugar production cost remains high, with an average cost of 5624 yuan/ton against a selling price of 5465 yuan/ton, resulting in an average theoretical loss of 158.6 yuan/ton for sugar factories [6]. - The expected sugarcane purchase price is 510 yuan/ton, with a sugar production rate of 12.85%, indicating a challenging profitability environment for sugar producers [6]. Seasonal Trends - Historically, December has shown a high probability of price declines, and despite an increase in both supply and demand, the supply growth is anticipated to outpace demand growth, leading to a potential price drop [8]. - The expected price range for white sugar in Guangxi for December is between 5380-5550 yuan/ton, influenced by increased supply from local sugar factories and other regions [8].

广西作为国内白糖主产区，2024/25榨季糖产量646.5万吨，占到全国总量的57.92%左右，25/26榨季受干 旱以及洪涝的影响，食糖产量增速或放缓，但由于甘蔗种植面积继续增加，或带动食糖总量保持在660 万吨以上，同比增幅2.09%。11月15日广西首家糖厂开榨，同比推迟7天，支撑价格短时处于相对高 位，截至12月2日，广西开榨糖厂数量为39家，同比减少22家。开榨时间的整体后延在一定程度上利于 广西甘蔗的产量恢复，尤其是在本榨季甘蔗成熟期遭遇持续阴雨天气，甘蔗糖分未达到理想水平，但即 使如此，2025/26榨季广西产糖率或仍难以追求上一榨季，预计下调0.45个百分点至12.85%。 11月下旬，随着广西新糖供应量稳步递增，糖厂降价走量意向转浓，广西南宁价格跌破5000元／吨关 口，糖厂由盈转亏。12月国内市场虽供需双增，但由于供应增量预期大于需求增量预期，预计12月糖价 或震荡走低的可能性仍大。 新糖供应增加，糖价持续走低 11月中旬，受广西陈糖库存降至低位影响，市场存一定看涨情绪，支撑糖价触底反弹，广西南宁市场均 价最高涨至17日的5725元／吨。但随着广西开榨糖厂数量不断增加，广西新糖供应量稳步递 ...

新华财经北京12月5日电本计价周期（2025年11月24日24时至2025年12月8日24时）以来，国际原油呈现 窄幅波动行情，变化率处于负值低位运行，第9个工作日计算后的下调幅度在55元／吨，略高于国家发 改委50元／吨的成品油调价红线。距离调价窗口还有一个工作日，国际原油有望呈现偏强走势，下周一 （12月8日）24时，国内成品油零售限价预计下调与搁浅概率并存。 （文章来源：新华财经） 据据卓创资讯分析师曹莹莹介绍，本计价周期以来，地缘溢价继续存在，对原油价格形成支撑，但季节 性需求淡季背景下，基本面相对偏弱拖累原油价格走势。欧洲局势继续扰动，但美国石油累库，市场多 选择观望，且感恩节假期交投清淡，因此本周期国际原油价格窄幅波动，对应原油变化率在负值低位运 行。据卓创资讯测算，截至12月4日收盘，国内第9个工作日参考原油变化率-1.26%，预计汽柴油下调55 元／吨，调价窗口12月8日24时。 "预计本轮成品油零售限价压线下调与搁浅并存，按当前测算下调幅度计算，折合升价，汽、柴油下调 幅度或在0.04元／升左右，对于广大消费者而言，加满一箱50升的92号汽油，预计将节省2元左右，消 费者用油成本变化有限。" ...

Core Viewpoint - Zhuochuang Information (卓创资讯) is planning to list in Hong Kong despite having unutilized funds from its A-share IPO, raising concerns about its motives and project delays [1][4]. Group 1: Fundraising and Utilization - Zhuochuang Information raised approximately 449.85 million yuan in its A-share IPO, with a net amount of 389.1 million yuan after expenses [3]. - As of June 30, 2025, the company has utilized about 205.68 million yuan of the raised funds, leaving a significant portion idle for cash management [3][6]. - The projects funded by the IPO, including the "Commodity Big Data Platform" and "Benchmark Pricing System for Commodity Spot Market," have been delayed, with completion dates pushed to June 30, 2027, and December 31, 2025, respectively [4][6]. Group 2: Business Overview - Zhuochuang Information is a leading provider of commodity information services in China, holding a market share of 10.6% and ranking second in the industry as of 2024 [2]. - The company operates in various segments, including information services, digital services, consulting, and exhibition services [2]. Group 3: Financial Performance - The company's revenue for 2022 to 2025 (up to August) was approximately 273 million yuan, 284 million yuan, 294 million yuan, and 229 million yuan, respectively, with fluctuating gross margins [6]. - Despite revenue growth, net profit showed inconsistency, with a net profit of 58 million yuan in 2022 and a decrease to 45 million yuan in the first three quarters of 2025 [6]. Group 4: Leadership Background - The company's chairman, Jiang Hulin, has a diverse career background, transitioning from a sports education graduate to a significant figure in the information services industry [8]. - Jiang Hulin holds 34.93% of Zhuochuang Information's shares, with a history of shareholding arrangements that were formalized in 2017 [9].

本次权益分派股权登记日为：2025年12月8日，除权除息日为：2025年12月9日。 格隆汇12月2日丨卓创资讯(301299.SZ)发布2025年第三季度权益分派实施公告，公司2025年第三季度权 益分派方案为：以公司现有总股本6038.06万股为基数，向全体股东每10股派4元人民币现金[含税；扣 税后，境外机构(含QFII、RQFII)以及持有首发前限售股的个人和证券投资基金每10股派3.6元。 ...

证券代码：301299 证券简称：卓创资讯 公告编号：2025-060 山东卓创资讯股份有限公司 关于 2025 年第三季度分红派息实施公告 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。 山东卓创资讯股份有限公司（以下简称"公司"或"本公司"）2025 年第 三季度利润分配方案已分别经 2025 年 10 月 28 日召开的第三届董事会第十九次 会议和第三届监事会第十六次会议审议通过，现将分红派息事宜公告如下： 一、股东大会审议通过利润分配方案的情况 1. 公司于 2025 年 5 月 12 日召开 2024 年年度股东大会，审议通过了《关于 公司 2024 年度利润分配方案及 2025 年现金分红规划的议案》，股东大会同意授 权董事会在符合监管要求和在现金分红上限不超过相应期间归属于公司股东净 利润的前提下，制定公司 2025 年（包含中期及第三季度）利润分配方案并在规 定期限内实施。 2. 公司于 2025 年 10 月 28 日召开的第三届董事会第十九次会议和第三届监 事会第十六次会议，分别审议通过了《关于公司 2025 年第三季度利润分配方案 的议案 ...

Market Overview - The digital media sector experienced a decline of 1.19% on December 2, with Mango Super Media leading the drop [1] - The Shanghai Composite Index closed at 3897.71, down 0.42%, while the Shenzhen Component Index closed at 13056.7, down 0.68% [1] Stock Performance - Notable stock performances included: - 365 Network (300295) rose by 2.92% to close at 15.18 [1] - Mango Super Media (300413) fell by 2.91% to close at 24.73, with a trading volume of 242,800 shares and a transaction value of 603 million [2] - Visual China (000681) closed at 24.10, up 0.50% [1] - Worth Buying (300785) decreased by 0.95% to 43.66, with a transaction value of 1.071 billion [2] Capital Flow - The digital media sector saw a net inflow of 38.76 million from institutional investors and 67.02 million from retail investors, while retail investors had a net outflow of 106 million [2] - Key capital flows for specific stocks included: - Visual China (000681) had a net inflow of 1.08 billion from institutional investors [3] - Worth Buying (300785) attracted a net inflow of 59.35 million from institutional investors [3] - Mango Super Media (300413) experienced a net outflow of 1.21 billion from retail investors [3]

Core Viewpoint - Shandong Zhuochuang Information Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, marking a significant step in its internationalization process and aiming to enhance its global strategic layout [1][3]. Group 1: Company Overview - Shandong Zhuochuang is a leading provider of comprehensive commodity information services in China, focusing on market data monitoring, price assessment, and market research analysis for various commodities [5]. - The company ranks second in China's commodity information service industry with a market share of 10.6% as of 2024, and it holds the top position in the energy commodity sector [5]. Group 2: Financial Performance - In the first three quarters of 2025, the company reported a net profit attributable to shareholders of 43.11 million yuan, a year-on-year increase of 10.58%. The net profit, excluding non-recurring gains and losses, reached 38.36 million yuan, reflecting a growth of 22.86% [5]. - The company has proposed a cash dividend of 4.00 yuan per 10 shares (including tax) to enhance shareholder returns [5]. Group 3: Market Trends - There is a noticeable trend of Shandong enterprises listing in Hong Kong, with at least 18 companies currently in the queue, spanning various sectors from advanced technology to traditional heavy industry [3][4]. - The Hong Kong Stock Exchange is seen as a vital platform for Shandong companies to broaden their international perspective and enhance brand influence, particularly for those already listed in mainland A-shares [3][4]. Group 4: Strategic Intent - The primary goal of the listing is to deepen the company's global strategy, enhance its international brand image, and further strengthen its core competitiveness [5][6]. - Successful fundraising through this listing could open new growth opportunities and accelerate the implementation of its international strategy [6].

Core Viewpoint - Shandong Zhaochuang Information Co., Ltd. (Zhaochuang) is seeking to list on the Hong Kong Stock Exchange, having established itself as a leading provider of commodity information services in China, with a market share of 10.6% in the industry and ranking first in the energy commodity sector [1][2]. Company Overview - Zhaochuang operates across 25 commodity sectors, leveraging over 120,000 information sources to build a substantial data asset [2]. - The company offers various services, including information services, digital services, consulting, and exhibition services, with information services being the core business [2]. Financial Performance - Revenue growth has been modest, with a 7.7% increase from RMB 273 million in FY2022 to RMB 294 million in FY2024, reflecting a compound annual growth rate of less than 4% [3][4]. - In the first eight months of 2025, the company reported revenue of RMB 229 million, a year-on-year increase of 4.7% [3][4]. - Net profit figures for 2022, 2023, and 2024 were RMB 58.4 million, RMB 52.1 million, and RMB 70.5 million, respectively, with a notable rebound in 2024 after a decline in 2023 [4][5]. Profitability Metrics - The company maintains a high gross margin, with rates of 65.8%, 59.9%, 65.6%, and 62.6% from 2022 to the first eight months of 2025 [5][6]. - The decline in gross margin in 2023 was attributed to increased sales costs, which rose from 34.2% in 2022 to 40.1% in 2023, but the company successfully restored its margin in 2024 [5][6]. - Net profit margins for 2022, 2023, and 2024 were 21.4%, 18.4%, and 23.9%, respectively, indicating strong profitability despite fluctuations [6]. Industry Outlook - The Chinese commodity information services market is projected to grow from RMB 2.5 billion in 2024 to RMB 4.1 billion by 2029, with a compound annual growth rate of 10.7%, significantly outpacing the global growth rate of 5.4% [7]. - The industry is transitioning from basic price reporting to in-depth market insights and data intelligence services, driven by digitalization and risk management needs [7]. Competitive Position - Despite the favorable market conditions, Zhaochuang's revenue growth of approximately 3-4% lags behind the industry average of 10.7%, indicating challenges in capturing market share [9]. - The company is positioned at a critical juncture, needing to deepen its data intelligence services and expand into international markets to enhance growth potential [9].