证券代码：002226 证券简称：江南化工 公告编号:2026-002 安徽江南化工股份有限公司 关于 2025 年 7-12 月份日常经营合同情况的自愿性信息披露公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 安徽江南化工股份有限公司及其所属企业（以下简称"江南化工"、"公 司"或"本公司"）2025年7-12月新签或开始执行的爆破服务工程类日常经 营合同金额合计人民币11.83亿元。 注：1、上述项目中，巴音郭楞蒙古自治州若羌县依吞布拉克镇阳光煤矿爆 破施工项目服务期限为 20 个月；锰矿爆破项目服务期限为 4 年；库车市鑫发煤 矿煤田灭火治理工程项目爆破工程施工合同服务期限为 2 年；安徽绩溪家朋抽水 蓄能电站设计采购施工 EPC 总承包项目爆破作业服务期限为 3 年。 2、上述部分"合同金额"是根据合同约定的服务内容及期限等测算得出的 数据，合计金额 11.83 亿元爆破服务工程类项目均已经签署相关业务合作合同。 3、以上合同数据为阶段性数据，仅供参考，最终确认收入的金额及确认期 1 间将以相关定期报告披露的数据为准，敬请投资者注意投资风险。 特此公告 ...

2026 年化工策略报告汇报 化工进入击球区：看好全球供 给反内卷大周期，看好全球 AI 需求大周期 20260128 摘要 基础化工行业产能扩张放缓，在建工程与固定资产比值降至低位，叠加 行业协会和龙头企业推动反内卷，有望扭转亏损局面，双碳政策也限制 了新增产能，预示行业盈利能力将恢复。 全球流动性宽松及新兴产业发展驱动需求增长，化工品消费具全球性， 下游产业对海外消费依赖度高，人工智能、机器人等新兴产业对新材料 需求增加，共同推动化工行业景气度提升。 基础化工行业价差虽有复苏但仍处底部，安全度较高，自由现金流自 2022 年以来逐渐改善，预计 2025 年全年转正，预示行业拐点出现， 为投资者带来分红等回报机会，潜在股息率普遍超过 10%。 化工行业估值提升受益于自由现金流转正、投资放缓约束、库存低位和 开工率良好，反内卷及能耗政策约束，以及欧洲企业退出市场，共同推 动化工产品价格上涨。 欧洲化工企业因能源成本、人工成本及供应链效率等问题，长期低开工 率难以恢复，高成本产能逐步退出市场，将导致聚烯烃、有机硅等产品 供应减少，推升全球价格。 Q&A 2026 年至 2030 年化工行业的整体趋势如何？ 从 ...

见微知著 睹始知终 V财网 小V 编辑/高飞 排版/莫莫 北交所上会进入倒计时，昆山鸿仕达智能科技股份有限公司（下称"鸿仕达"）的IPO进程正被多重关联隐患与合规疑点裹挟。大客户子公司突击入股后业绩 诡异暴增、独立董事任职于核心研发合作单位、主要供应商疑似空壳企业，三大问题分别触及经营独立性、决策公正性与供应链合规性三大核心维度，不仅 引发市场对公司基本面真实性的深度质疑，更给其上市之路蒙上厚重阴影。 监管层已精准捕捉到这一疑点，在问询中直指"销售收入大幅增长原因""毛利率高于均值的合理性"等核心问题。而业绩的波动性更暴露了依赖本质：2025年 上半年，鸿仕达对鹏鼎控股的收入降至3585.09万元，在手订单仅863.35万元，公司解释为"前期设备满足需求，采购转向改造升级"，这反而印证其收入高度 依赖大客户资本开支周期，而非自身技术壁垒带来的持续复购能力。作为全球FPC龙头，鹏鼎控股供应商认证体系严苛、更换成本极高，鸿仕达能快速跻身 核心供应商，更可能是"战略投资绑定"的产业协同结果，而非单纯技术突破。这种资本驱动的业绩模式削弱了经营独立性，若未来大客户调整采购策略或减 持退出，公司业绩稳定性将遭受重创。 独 ...

Group 1 - The company is seizing opportunities in the civil explosives industry during the 14th Five-Year Plan period and is accelerating the restructuring of quality enterprises, positioning itself among the top tier in core competitiveness [1] - By 2025, the company plans to enhance regional integration in the civil explosives industry through investments, including establishing Hubei Jiangnan Chutian Technology Co., Ltd. to gain control of Hubei Dongshen Chutian Chemical Co., Ltd. with an industrial explosive production capacity of 30,500 tons [1] - The company will acquire Sichuan Ebian Guochang Chemical Co., Ltd. with a production capacity of 35,000 tons, and will also acquire 100% equity of Chongqing Shun'an Blasting Equipment Co., Ltd. with a capacity of 73,000 tons, along with the transfer of mining assets from the No. 11 Mine with a capacity of 18,000 tons, aiming to enhance production capacity and core competitiveness through strategic integration [1] Group 2 - The company emphasizes strict compliance with the "Management Measures for Information Disclosure of Listed Companies" and related regulations, urging investors to pay attention to future periodic reports and announcements regarding annual performance and production capacity data [1]

Core Viewpoint - Jiangnan Chemical (002226) is focusing on strategic expansion in the Tibet market to enhance market share and brand influence, while also actively engaging in overseas projects [1] Group 1: Domestic Strategy - Jiangnan Chemical is closely monitoring national investment projects in Tibet [1] - Several subsidiaries have established branches in Tibet, including a Linzhi office, to strengthen local presence [1] - The company is leveraging its scale advantages to increase resource investment in key civil explosive market areas [1] Group 2: International Business - In April 2025, Northern Explosive Namibia successfully won a bid for the upgrade and operation project of the Lakeshan Ground Station, with a contract value of approximately 800 million yuan [1] - The contract duration is from May 1, 2025, to December 31, 2029 [1] - The company will fulfill its information disclosure obligations for significant contracts that meet disclosure standards [1]

Core Viewpoint - Jiangnan Chemical (002226) is a diversified listed company driven by dual cores of civil explosives and new energy, focusing on three main business segments in the civil explosives field: civil explosive products, engineering construction services, and mining operation management [1] Group 1 - The company emphasizes that its main business does not involve aerospace launch-related activities [1]

Core Viewpoint - Jiangnan Chemical (002226.SZ) is a diversified listed company driven by dual cores of civil explosives and new energy businesses, focusing on three main sectors in civil explosives [1] Group 1: Business Segments - The company concentrates on civil explosive products, engineering construction services, and mining operation management within its civil explosive business [1] - The main business of the company does not involve aerospace launch-related activities [1]

Group 1 - The core focus of Jiangnan Chemical (002226.SZ) in the civil explosives sector includes three main business segments: civil explosive products, engineering construction services, and mining management [1] - The company clarifies that its main business does not involve aerospace pyrotechnics-related activities [1]

Market Performance - The three major A-share indices opened high but closed lower, with the Shanghai Composite Index down 0.08% at 4132.9 points, the Shenzhen Component down 0.85% at 14316.64 points, and the ChiNext Index down 0.91% at 3319.15 points [1] - The total trading volume in the Shanghai and Shenzhen markets reached 32,453.25 billion yuan, with over 3,700 stocks declining throughout the day [1] Sector Performance - The non-ferrous metal sector led the market with significant gains, particularly in precious metals, where stocks like Sichuan Gold surged with 4 consecutive trading limits, and Zijin Mining reached a historical high [1] - The biopharmaceutical sector related to vaccines also saw collective gains, while the oil and gas sector strengthened, with China National Offshore Oil Corporation hitting a historical high [1] - The commercial aerospace sector experienced a downturn, with multiple stocks like Haige Communication and Shenjian Co. hitting the limit down, while the semiconductor equipment sector performed poorly [1]

作者 | IT桔子团队 排版 | 王梓璇 来源｜IT 桔子 图片 | AI生成 "请回答中国创投 2025： 2025年，谁是最活跃的市场大买家？" 在2025年的控股型股权并购市场中，产业资本和头部财务投资者成为绝对主角。 通过分析年度较为活跃的五大买方，我们可以清晰地勾勒出当前产业整合的核心逻辑： 围绕主业，通过精准并购实现外延式增长、巩固行业地位并构建生态壁垒。 高瓴投资：重注医疗健康赛道 | | | 2025年中国活跃的股权并购方 | | | | | --- | --- | --- | --- | --- | --- | | 并购方 | 公司 | 城市 | 行业 | 交易金额 | 股份比例 ( % ) | | 渤海汽车 | 英纳法智联 | 北京 | 汽车交通 | 1795万元 | 100 | | | 海纳川安道拓 | 廊坊 | 汽车交通 | 1.29亿元 | 51 | | | 北汽模塑 | 北京 | 汽车交通 | 16.26亿元 | 51 | | | 莱尼线束 | 廊坊 | 汽车交通 | 9.55亿元 | 50 | | | 中美上海施贵宝制药 | 上海 | 医疗健康 | 数亿美元 | 60 | | 高 ...