基础化工可转债双周报：利民转债转股数额累计达转股前已发行股份总额10%-20250414

Investment Rating - The report maintains an "Outperform" rating for multiple companies in the chemical sector, including Wanhu Chemical, Baofeng Energy, and Zangge Mining, among others [1]. Core Insights - The cumulative amount of shares converted from Limin Convertible Bonds has reached 10.71% of the total issued shares before conversion, indicating strong investor interest in convertible bonds within the basic chemical sector [4]. - The report highlights significant price movements in various convertible bonds, with notable increases for Daon Convertible Bonds (up 5.16%) and Limin Convertible Bonds (up 3.66%) during the week of April 7-11, 2025 [4][24]. - The report also notes the performance of the basic chemical sector's convertible bonds, with some experiencing declines, such as Fuxin Convertible Bonds (down 7.14%) [4][24]. Summary by Sections Convertible Bond Tracking - The report tracks the performance of various convertible bonds, indicating that Daon Convertible Bonds and Limin Convertible Bonds have shown positive growth, while others like Fuxin Convertible Bonds have declined significantly [4][24]. - The report provides detailed statistics on the price changes of convertible bonds, highlighting the volatility and investor sentiment in the market [4][25]. Company Performance - Guizhou Chanhen Chemical reported a 23.01% year-over-year increase in recurring net profit, prompting an upgrade in target price by 19% [3]. - Zangge Mining's recurring net profit decreased by 28.76% year-over-year, but the company is focusing on developing a second growth curve through copper mining [3]. - Guangdong Huate Gas is deepening its market layout and transforming its sales model, maintaining an outperform rating and raising its target price by 11% [3].