河南这家上市公司开年又迎来一大波机构调研

Group 1 - New Source (stock code: 300109.SZ) held an investor meeting on February 6, 2023, in Shanghai, attended by 37 institutions including Shenwan Hongyuan and Everbright Securities [2][15] - Since 2026, 18 A-share listed companies from Henan have received institutional research, with Xiangyu Medical leading with 208 institutions participating [16][23] - The demand for core products, particularly PVP series products and their applications in emerging fields, was a major focus during the meeting [3][17] Group 2 - New Source is a leading high-tech enterprise in the research, development, and production of PVP series products, with a total domestic production capacity of 57,000 tons per year, accounting for 53% of global capacity and a 34% global market share [18] - PVP is widely used in various sectors, including daily chemicals, pharmaceuticals, food and beverage, materials, and new energy, with significant applications in solid-state batteries and photovoltaic cells [18][4] - The company expects to sell approximately 4,000 tons of PVP in the new energy sector by 2025, with a projected 20% increase in 2026 [4][19] Group 3 - The price of PVP products has been affected by rising raw material costs due to the European energy crisis and the Russia-Ukraine conflict, leading to increased prices and profit margins, which are not expected to be sustainable [5][19] - Another core product, Euriz (PVM/MA), has a high single-ton price with a gross margin of approximately 60%-70%, with expected shipments of about 900 tons in 2025 [20] - New Source has made strategic investments in five cell and gene therapy companies to enhance its competitive edge in the precision medical field [20][21] Group 4 - New Source's invested companies are progressing well, with one product entering NDA approval and several others in clinical stages, indicating potential for future growth and IPO opportunities [21] - The company's governance structure is relatively decentralized, with major shareholders expressing confidence in the long-term development of the company and intentions to increase their holdings [21][22] - Institutional interest in Henan-listed companies reflects recognition of their investment value, with many companies being leaders in their respective sectors [25]