2025.05. 26 【今日推荐】 俄大使馆遭无人机袭击 当地时间25日，俄罗斯驻瑞典外交使团称，一架携带颜料的无人机袭击了俄罗斯驻瑞典大使馆。据 悉，无人机在夜间向使馆主入口前的平台投掷了一个装有颜料的玻璃容器。 市场监管总局：我国平台经济监管政策体系进一步完善 市场监管总局价监竞争局有关负责同志就《网络交易平台收费行为合规指南（征求意见稿）》答记者 问：总体上看，《指南》的出台，标志着我国平台经济监管政策体系的进一步完善。《指南》以问题 为导向，针对纠治平台收费不透明、不合理等问题提出了具体要求。同时，还强调平台企业的自我规 范、自我监督，提高平台企业落实合规管理主体责任的主动性，推动形成政府监管与企业自律相结合 的治理格局。《指南》对保障平台内经营者知情权、选择权等合法权益作出明确规定，鼓励平台采取 多种措施降低经营者负担，提供让利或减免扶持，对平台内经营者有关收费问题的关切也要及时予以 反馈。未来，随着《指南》的落地实施，将有助于平台企业优化收费合规建设，推动行业健康发展， 构建平台和平台内经营者和谐共生的良好生态。 国乒4金收官！"双曼"组合夺冠！ 当地时间5月25日，2025年多哈世乒赛完成全部 ...

证券代码：301299 证券简称：卓创资讯 公告编号：2025-029 山东卓创资讯股份有限公司 关于 2024 年限制性股票激励计划 重要内容提示： 1. 本次归属限制性股票的上市流通日：2025 年 5 月 27 日； 2. 本次流通数量：38.056 万股，占归属前公司总股本的 0.63%； 3. 本次归属人数：92 人； 4. 本次归属的限制性股票不设限售期，激励对象为董事、高级管理人员的按照相关规定 执行。 山东卓创资讯股份有限公司（以下简称"公司"或"卓创资讯"）于 2025 年 4 月 18 日 召开第三届董事会第十三次会议和第三届监事会第十二次会议，分别审议通过了《关于 2024 年限制性股票激励计划首次授予部分第一个归属期符合归属条件的议案》，董事会认为公司 2024 年限制性股票激励计划首次授予部分第一个归属期符合归属条件，同意按规定为符合条 件的激励对象办理第一个归属期的相关归属事宜。具体内容详见公司于 2025 年 4 月 18 日在 巨潮资讯网上披露的相关公告。 首次授予部分第一个归属期归属结果暨股份上市的公告 近日，公司办理了 2024 年限制性股票激励计划首次授予部分第一个归属期 ...

Core Viewpoint - The industrial e-commerce sector is experiencing a divergence in revenue and profit trends, with total revenue for seven listed companies declining by 19% year-on-year, while net profit increased by 40.13% in Q1 2025, indicating a shift towards profitability despite revenue challenges [1][3]. Revenue Summary - Total revenue for the seven listed industrial e-commerce companies reached 31.792 billion yuan, a 19% decrease year-on-year [1]. - Guolian Co. reported revenue of 11.019 billion yuan, down 19.11% year-on-year [2]. - Focus Technology achieved revenue of 441 million yuan, up 15.4% year-on-year [2]. - Shanghai Steel Union's revenue was 15.273 billion yuan, a decline of 12.93% year-on-year [1][2]. - Energetic Technology reported revenue of 2.877 billion yuan, down 5.38% year-on-year [1]. - Wangsheng Business Treasure's revenue surged to 162 million yuan, marking a 98.05% increase year-on-year [1]. - Zhuo Chuang Information's revenue was 79.51 million yuan, up 5.3% year-on-year [1]. Profit Summary - The net profit for the seven companies collectively increased by 40.13% year-on-year, highlighting a significant profit growth despite revenue declines [3]. - Guolian Co. reported a net profit of 270 million yuan, down 13.80% year-on-year [2]. - Focus Technology's net profit was 112 million yuan, up 45.94% year-on-year [2]. - Shanghai Steel Union achieved a net profit of 51.8732 million yuan, an increase of 5.53% year-on-year [2]. - Energetic Technology's net profit surged by 287.20% to 216 million yuan [2]. - Wangsheng Business Treasure's net profit was 1.6 million yuan, down 33.15% year-on-year [2]. - Zhuo Chuang Information reported a net profit of 18.59 million yuan, down 25.1% year-on-year [2]. Industry Trends - The revenue decline and profit growth indicate a structural differentiation within the industrial e-commerce sector, with traditional information matching models facing growth bottlenecks [2]. - The resilience of cross-border B2B e-commerce, as demonstrated by Focus Technology's growth, contrasts with the cyclical adjustments in the bulk commodity markets affecting companies like Guolian Co. and Shanghai Steel Union [2]. - The shift towards value-oriented growth through enhanced service capabilities, such as supply chain and data services, is becoming crucial for companies to navigate market fluctuations [2][3]. - The overall trend suggests a transition from scale competition to efficiency competition, with companies focusing on product structure optimization and operational efficiency to maintain profitability [3].

Core Viewpoint - The PTA industry is facing significant challenges due to ongoing trade wars and uncertainty in trade policies, leading to a drop in prices to near four-year lows. The high cost of raw material PX is expected to erode profits, and the overcapacity in the industry, combined with weak downstream demand, suggests that PTA prices may remain low for the foreseeable future [1]. Group 1: Market Supply and Capacity - China's PTA industry has seen significant capacity expansion, becoming the world's largest PTA producer with a total capacity of 86.2 million tons as of March [2]. - The rapid rise of private enterprises in the PTA sector has intensified industry transformation, leading to a more integrated competitive landscape where major suppliers have established a "PX-PTA-Polyester" supply chain [2]. - Despite the gradual increase in domestic PTA demand due to downstream polyester projects, the growth rate of PTA capacity is outpacing that of polyester, resulting in a buyer-dominated market [2]. Group 2: Raw Material Prices - The PX market has experienced a slowdown in capacity expansion after a rapid release phase, with domestic PX capacity expected to remain at 43.48 million tons in 2024, with no new projects planned for that year [3]. - The supply of PX is expected to remain tight, making it difficult for prices to decrease, which will further squeeze the profit margins of downstream products like PTA [4]. Group 3: Demand Challenges - The polyester industry, a key downstream consumer of PTA, holds 70% of global capacity, but the growth rate of new polyester capacity is slowing, leading to an oversupply crisis [5]. - The uncertainty in the international trade environment has negatively impacted overseas orders, particularly affecting exports to the U.S. and Europe, which is significant for the home textile industry [5]. - Many weaving enterprises are currently facing a dilemma of "high costs and low demand," leading some smaller companies to implement production cuts to maintain prices [5][6].

南方财经全媒体研究员陈璐 徐小琼 广州报道 数据资产入表实践一年以来，一个关键问题浮出水面：将数据资源资产化，究竟会给企业带来怎样的影 响？ 是估值提升、融资便利、优化财务报表的加分项，还是一场投入高昂、回报未明的"魄力游戏"？ 随着5400余家上市公司公布2024年年度报告，百家企业向我们描绘了一幅"数据资产入表元年"图景：数 据资产入表企业数量快速增长，入表金额更是较一季报放大近28倍。其中，以数据为核心能力的数据原 生企业，对数据的管理水平不断提高；以国企占比较高的数据非原生企业，整体资产负债率明显下降， 有企业通过数据产品成功获得授信支持。 还有超过98%的A股上市公司选择按兵不动。有企业人士向南财数据团队表示，企业在业务层面上具有 推动数据资产入表的积极性，但从财务角度来看，由于缺乏估值等更为明确的政策细则和可借鉴的典型 案例，总体上仍然持审慎态度。 完成一次数据确权、分类、评估与审计的成本，仍是一个难以回避的现实考量：这笔投入，究竟值不值 得？本文将以2024年报中实现数据资产入表的100家上市公司为样本，尝试从企业类型、行业分布、概 念标签、财务表现等多个维度，寻找答案。 一、总体概览：数据资产 ...

目前，淄博地区92号成品油国标价为7.06元/升，此次降价落实后，以"两桶油"为代表的加油站零售价将下调至6.88元/升左右， 时隔41个月后重返"6元时代"；95号汽油国标价也将从现有的7.58元/升，下调至7.39元/升左右。 成本方面，按照油箱容量为50L的家用轿车为例，加满一箱92号汽油将减少9元。以月跑2000公里，百公里油耗在8L的小型私家 车为例，到下次调价窗口开启(2025年6月3日24时)之前，消费者用油成本将降低14元。 5月19日24时，新一轮国内成品油调价窗口即将开启，国内成品油零售限价或迎年内第五次下调。 卓创资讯（301299）分析称，本计价周期前期，市场担忧欧佩克+将提高产量，原油价格延续前期跌势。但随着中美达成贸易协 议且市场猜测欧佩克+未来存在增产暂停的可能性，原油价格呈现偏强运行。不过美国原油库存增加以及油市面临的过剩预期抑 制油价上涨步伐，原油价格出现反复。 "本计价周期初始原油变化率处于负值深位，虽然后期原油价格上涨带动原油变化率负值范围回升，但幅度有限，本轮成品油零 售限价下调方向不变。"卓创资讯成品油分析师王雪琴表示。 据卓创资讯测算，截至5月16日收盘，国内第10 ...

今日(5月19日)24时起，油价下调！ 国际能源署(IEA)5月15日发布的月度石油市场报告显示，今年剩余时间全球石油需求增速将放缓至65万 桶/日，低于一季度99万桶/日的增速；预计今年全球石油需求增长平均增速为74万桶/日，2026年全球石 油需求增长平均增速为76万桶/日，均较上月估计值有所上调。 下一次调价窗口将在2025年6月3日24时开启。展望后市，隆众资讯分析师李彦认为，尽管市场对原油需 求前景的预期有所好转，但美国与伊朗的谈判取得重大进展，美伊局势有望缓和，或提振原油供应。同 时，全球经济和需求在短期内难以显著改善。综合来看，下一轮成品油调价下调的概率较大。 民生证券认为，尽管"欧佩克+"在5月初表示将继续超预期增产，但在国际局势影响下，油价在经历回落 之后迅速回升。考虑到"欧佩克+"后续增产的影响将逐步显现，目前油价上行空间相对有限。预计短期 内油价仍将在60美元/桶至65美元/桶的区间进行宽幅震荡。 国家发展改革委5月19日发布的通知显示，自5月19日24时起，国内汽、柴油价格(标准品，下同)每吨分 别降低230元和220元。 卓创资讯（301299）数据显示，本轮成品油零售限价下调落地后 ...

Group 1: Market Overview - The PVC market has been experiencing a downward trend since April, with prices in East China dropping to 4730 yuan per ton as of May 8, a decrease of 140 yuan or 2.87% from April 1 [1] - Supply expectations are increasing due to limited maintenance during the conventional repair season and the introduction of new production capacities [2] Group 2: Supply Dynamics - The maintenance period for PVC production is expected to last from April to August, with production rates increasing post-holiday [2] - PVC production is projected to reach 474,000 tons during the period from May 3 to 9, reflecting a 2.4% increase compared to the previous period [2] - Planned maintenance capacity in April was approximately 5.7 million tons, which is a 20.94% decrease compared to the previous two years, limiting effective supply reduction [2] Group 3: Demand Factors - Domestic demand for PVC is supported by stimulus policies in the real estate market, but overall demand remains weak due to uncertainties from the US-China trade disputes [3] - The construction and renovation sectors are expected to drive traditional PVC demand, but low operating rates in PVC pipe and profile enterprises indicate weak internal demand [3] - India, as the largest export destination for Chinese PVC, poses risks due to anti-dumping policies, potentially affecting over 700,000 tons of PVC consumption [3] Group 4: Cost Considerations - The domestic PVC production primarily uses the calcium carbide method, but the proportion of ethylene-based PVC is gradually increasing, reaching 27.91% as of April [4] - The reliance on imported ethane for ethylene production could lead to increased costs if tariffs are imposed, potentially pushing production costs above the breakeven point [4][5] - The impact of US-China trade tensions may raise the cost of imported ethane, affecting coastal ethylene projects, although the overall effect on PVC powder may be limited due to diverse raw material sources [5]

Group 1: Shareholder Actions - Shareholder Cui Zengke has been continuously reducing his holdings from 3.429 million shares to 1.9 million shares by the end of Q1 2025, raising concerns about the company's situation [4] - The company states that the reduction in shares is due to the shareholder's personal financial planning and does not indicate any operational issues [2][4] Group 2: Dividend and Profit Distribution - The profit distribution plan for the fiscal year 2024 has been approved and will be implemented within two months after the shareholders' meeting [2] Group 3: Business Strategy and Development - The company aims to establish itself as a benchmark for bulk commodity pricing and will focus on enhancing paid information and data services [3] - There are no current plans for mergers or acquisitions, but the company is open to exploring suitable targets in the future based on business expansion needs [3][4] - The company has completed the localization of the DeepSeek series large models to improve content production and customer service efficiency [3] Group 4: Compliance and Governance - The company emphasizes adherence to compliance standards and internal governance to achieve sustainable development [3]

Core Viewpoint - The recent price increase announcement by Hongqiang Co., Ltd. has led to a significant rise in its stock price, driven by expectations of rising raw material costs and market conditions [1][4]. Group 1: Price Increase and Stock Performance - Hongqiang Co., Ltd. announced a price increase of 100 yuan/ton for its hydroxy ester products effective from May 12, 2025, which resulted in its stock price hitting the limit up for two consecutive days [1]. - The stock price of Hongqiang Co., Ltd. increased by 138.4% from April 9 to May 14, with 10 out of the last 17 trading days experiencing limit up [4]. Group 2: Raw Material Supply and Market Conditions - The primary raw materials for Hongqiang Co., Ltd.'s hydroxy ester products are propylene oxide and ethylene oxide, with recent foreign production disruptions leading to expectations of price increases [1]. - Domestic propylene oxide prices have been on a downward trend, dropping from approximately 8,100 yuan/ton at the beginning of the year to around 6,900 yuan/ton by late April, currently stabilizing around 7,300 yuan/ton [3]. Group 3: Company Financial Performance - Hongqiang Co., Ltd. has experienced a continuous decline in net profit from 2021 to 2024, with figures of 113 million yuan, 89.94 million yuan, 85.51 million yuan, and 48.76 million yuan, reflecting declines of 20.45%, 20.23%, 4.93%, and 42.98% respectively [5]. - In the first quarter of 2025, the company's net profit further decreased by 80.56% year-on-year to 253,700 yuan, attributed to insufficient demand in the concrete admixture sector [5].