（编辑 王雪儿） 证券日报网讯 1月28日，金禾实业发布公告称，公司全资子公司安徽金禾合成材料研究院有限公司于近 日收到由安徽省工业和信息化厅、安徽省财政厅、国家税务总局安徽省税务局联合颁发的《高新技术企 业证书》，本次高新技术企业的认定是金禾研究院原高新技术企业证书有效期满后进行的重新认定。 ...

本次高新技术企业的认定是金禾研究院原高新技术企业证书有效期满后进行的重新认定。根据《中华人 民共和国企业所得税法》等相关规定，公司全资子公司金禾研究院自通过高新技术企业认定起连续三年 继续享受国家关于高新技术企业的相关税收优惠政策，即按15%的税率征收企业所得税。 格隆汇1月28日丨金禾实业(002597.SZ)公布，公司全资子公司安徽金禾合成材料研究院有限公司于近日 收到由安徽省工业和信息化厅、安徽省财政厅、国家税务总局安徽省税务局联合颁发的《高新技术企业 证书》，证书编号：GR202534003364，发证日期：2025年10月28日，有效期：三年。 ...

本次高新技术企业的认定是金禾研究院原高新技术企业证书有效期满后进行的重新认定。根据《中华人 民共和国企业所得税法》等相关规定，公司全资子公司金禾研究院自通过高新技术企业认定起连续三年 继续享受国家关于高新技术企业的相关税收优惠政策，即按15%的税率征收企业所得税。 格隆汇1月28日丨金禾实业(002597.SZ)公布，公司全资子公司安徽金禾合成材料研究院有限公司于近日 收到由安徽省工业和信息化厅、安徽省财政厅、国家税务总局安徽省税务局联合颁发的《高新技术企业 证书》，证书编号：GR202534003364，发证日期：2025年10月28日，有效期：三年。 ...

本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 安徽金禾实业股份有限公司（以下简称"公司"或"本公司"）全资子公司 安徽金禾合成材料研究院有限公司（以下简称"金禾研究院"）于近日收到由安 徽省工业和信息化厅、安徽省财政厅、国家税务总局安徽省税务局联合颁发的《高 新技术企业证书》，证书编号：GR202534003364，发证日期：2025年10月28日， 有效期：三年。 本次高新技术企业的认定是金禾研究院原高新技术企业证书有效期满后进 行的重新认定。根据《中华人民共和国企业所得税法》等相关规定，公司全资子 公司金禾研究院自通过高新技术企业认定起连续三年继续享受国家关于高新技 术企业的相关税收优惠政策，即按15%的税率征收企业所得税。 特此公告。 证券代码：002597 证券简称：金禾实业 公告编号：2026-002 安徽金禾实业股份有限公司 关于全资子公司获得高新技术企业证书的公告 二〇二六年一月二十九日 安徽金禾实业股份有限公司 董事会 ...

Core Viewpoint - The report highlights the growth trends in China's sugar industry, with significant increases in production and market dynamics projected for the coming years [1]. Group 1: Industry Overview - According to the National Bureau of Statistics, China's refined sugar production is expected to reach 3.59 million tons by December 2025, representing an 11% year-on-year increase [1]. - The cumulative production of refined sugar in China for 2025 is projected to be 16.21 million tons, reflecting a 9% growth compared to previous years [1]. Group 2: Companies Involved - Listed companies in the sugar industry include Huazi Industrial (600191), Yuegui Co., Ltd. (000833), Guannong Co., Ltd. (600251), COFCO Sugar Industry (600737), Jinhui Industrial (002597), Guangnong Sugar Industry (000911), and Hainan Yedao (600238) [1]. Group 3: Market Research - The report titled "Analysis of Market Competition and Development Trends in China's Sugar Industry from 2026 to 2032" by Zhiyan Consulting provides insights into the competitive landscape and future directions of the industry [1].

1.皖能电力：以15.83亿元股权及17.27亿元现金向新能公司增资 5.淮北矿业：2025年净利同比预降69.21%左右 淮北矿业1月23日晚间发布业绩预告，公司预计2025年年度实现归属于母公司所有者的净利润为14.95亿 元左右，与上年同期48.55亿元相比，将减少33.6亿元左右，同比减少69.21%左右。公司2025年年度业 绩大幅下降的主要原因为：公司2025年商品煤产量销量同比有所下降，叠加国内煤炭供需格局呈现宽松 态势，煤炭价格弱势运行，公司煤炭产品价格较同期下降明显，导致公司主营业务利润较同期大幅下 降。 6.科大国创：合肥国创质押股份数量为230万股 1月23日，皖能电力公告，公司拟以持有的全资子公司安徽省皖能能源交易有限公司100%股权（评估值 158348.00万元）及现金172738.49万元，向控股股东安徽省能源集团有限公司的全资子公司安徽省新能 创业投资有限责任公司增资；本次增资完成后，公司将持有新能公司51%股权。 2.中公教育：股东王振东拟被司法强制卖出837.39万股股份 中公教育公告称，公司股东王振东因借款合同纠纷，其持有的837.39万股无限售流通股股份将被司法强 制卖 ...

Core Viewpoint - The article discusses the potential of D-Allulose as a sugar substitute, highlighting its approval as a new food ingredient and the subsequent market dynamics, including production capacity expansion and challenges in consumer market adoption [6][10][42]. Group 1: D-Allulose Overview - D-Allulose is a natural sugar found in fruits and plants, with a sweetness level about 70% that of sucrose and only 10% of the calories [8][42]. - It was officially approved as a new food ingredient by the National Health Commission on July 2, 2025, leading to a surge in market interest and stock prices of related companies [10][11]. Group 2: Production and Market Dynamics - Following the approval, companies like Microgen and COFCO announced their production capabilities, with several firms rapidly expanding their production capacity [17][20]. - By September 2025, multiple companies had reported significant production capacity plans, with some targeting annual outputs of up to 30,000 tons [21][22]. Group 3: Consumer Market Challenges - Despite the production enthusiasm, the consumer market remains relatively quiet, with only a few products, such as those from Nayuki Tea and Yoyi C, publicly utilizing D-Allulose [11][24]. - The slow adoption in the consumer market is attributed to internal project timelines within companies and the need for product development before market launch [28][31]. Group 4: Cost and Production Challenges - The cost of D-Allulose remains a significant barrier, with prices ranging from 20,000 to 24,000 yuan per ton, compared to traditional sugars like sucrose at around 6,000 yuan per ton [33][36]. - The production methods for D-Allulose, including fermentation and enzymatic conversion, present technical challenges that contribute to higher costs [37][40]. Group 5: Application Potential - D-Allulose is expected to find its initial applications in high-end markets where price sensitivity is lower, rather than as a direct substitute for sucrose in mainstream products [44][46]. - Its classification as a food ingredient rather than an additive allows for broader applications across various food categories, including baking and dairy products [48][49].

Core Viewpoint - The sugar substitute stock, Bailong Chuangyuan (605016.SH), experienced a surge in share price following the announcement of a significant profit increase, driven by the approval and application of allulose sugar in China [2][3]. Group 1: Company Performance - Bailong Chuangyuan reported a revenue of 1.38 billion yuan for 2025, marking a year-on-year increase of 19.8% [2]. - The company's net profit attributable to shareholders reached 370 million yuan, reflecting a substantial growth of 48.9% year-on-year [2]. - The growth in performance is attributed to an optimized product structure, with a higher sales proportion of high-margin resistant dextrin products, as well as cost reductions from technological upgrades and improved capacity utilization [2]. Group 2: Market Trends and Product Development - The market is increasingly focused on the development prospects of allulose sugar, with multiple institutions monitoring Bailong Chuangyuan's positioning in this sector [2]. - The company has established a production capacity of 15,000 tons of crystalline allulose sugar and plans to launch a new food raw material factory in Thailand by 2026, which will add 12,000 tons of crystalline allulose sugar and 7,000 tons of liquid D-allulose sugar capacity [3]. - Allulose sugar has been officially approved as a new food raw material in China, with its demand projected to reach between 150,000 to 200,000 tons in the next 3-5 years [3]. Group 3: Competitive Landscape - Despite the promising outlook for allulose sugar, its cost remains significantly higher than that of erythritol, which has hindered large-scale application [4]. - The past two years have seen a decline in the performance growth of other sugar substitute companies due to the chaotic expansion of erythritol production, leading to a drop in raw material prices [4]. - Major sugar substitute companies, including Baolingbao and Sanyuan Biological, are now focusing on allulose sugar to regain market momentum [4].

Core Viewpoint - The article highlights the significant growth of the sugar substitute stock, Bailong Chuangyuan (605016.SH), following the approval and application of allulose sugar in China, with a reported 48.9% increase in net profit for 2025 [3][5]. Group 1: Company Performance - Bailong Chuangyuan reported a revenue of 1.38 billion yuan for 2025, marking a year-on-year increase of 19.8% [3]. - The company's net profit attributable to shareholders reached 370 million yuan, reflecting a 48.9% year-on-year growth [3]. - The growth is attributed to an optimized product structure, with a higher sales proportion of high-margin resistant dextrin products, and cost reductions from technological upgrades [3][5]. Group 2: Market Trends and Product Development - The approval of allulose sugar as a new food ingredient in China is expected to drive demand, with projections estimating a domestic demand of 150,000 to 200,000 tons over the next 3-5 years [5]. - Major food and beverage companies, such as Mengniu, are accelerating the application of allulose sugar in their products, with some already testing allulose sugar formulations [5]. - Despite the high cost of allulose sugar compared to erythritol, which is 2-3 times higher, improvements in extraction efficiency are anticipated to gradually lower costs [6]. Group 3: Industry Challenges - The past two years have seen a slowdown in the performance of sugar substitute companies due to the chaotic expansion of erythritol production, leading to a drop in raw material prices [5]. - Companies like San Yuan Biological and Baolingbao are now focusing on allulose sugar to regain market momentum [5].

Group 1 - The core viewpoint of the news is the significant growth in the performance of sugar substitute company Bailong Chuangyuan, with a 48.9% increase in net profit for 2025, driven by the approval and application of allulose sugar in China [1] - Bailong Chuangyuan reported a revenue of 1.38 billion yuan for 2025, representing a year-on-year growth of 19.8%, and a net profit of 370 million yuan, reflecting a 48.9% increase compared to the previous year [1] - The company's performance growth is attributed to an optimized product structure, with a higher sales proportion of high-margin resistant dextrin products, as well as cost reductions from technological upgrades and improved capacity utilization [1] Group 2 - The National Health Commission of China officially approved allulose sugar as a new food raw material in July 2025, which is expected to have a demand of 150,000 to 200,000 tons in the domestic market over the next 3-5 years [2] - Following the approval, food and beverage companies in China are accelerating the application of allulose sugar in their products, with brands like Mengniu's Youyi C zero-sugar series being the first to adopt this ingredient on a large scale [2] - Despite the high cost of allulose sugar compared to erythritol, which is 2-3 times higher, several major sugar substitute companies are expanding their production or planning to enter the allulose sugar market to regain competitive advantage [2][3] Group 3 - Current market prices for allulose sugar range from 28,000 to 30,000 yuan per ton, while erythritol is priced between 9,000 and 10,000 yuan per ton, indicating a significant cost disparity [3] - Improvements in technology have led to enhanced conversion and extraction efficiency for allulose sugar, resulting in a decrease in its price, although it remains high compared to erythritol [3] - The market performance of allulose sugar post-launch is still uncertain, as its higher production costs may impact its widespread adoption [3]