（文章来源：证券日报） 证券日报网讯 2月26日，科隆新材发布2025年年度业绩快报公告称，公司2025年实现营业收入 476383689.21元，同比下降1.46%；归属于上市公司股东的净利润56942151.48元，同比下降34.48%。 ...

证券代码：920098 证券简称：科隆新材 公告编号：2026-014 陕西科隆新材料科技股份有限公司 2025 年年度业绩快报公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 特别提示：本公告所载 2025 年年度主要财务数据为初步核算数据，未经会 计师事务所审计，具体数据以公司 2025 年年度报告中披露的数据为准，提请投 资者注意投资风险。 一、2025 年年度主要财务数据和指标 单位：元 | 项目 | 本报告期 | 上年同期 | 变动比例% | | --- | --- | --- | --- | | 营业收入 | 476,383,689.21 | 483,455,835.37 | -1.46% | | 利润总额 | 63,646,433.13 | 101,273,322.98 | -37.15% | | 归属于上市公司股东 | 56,942,151.48 | 86,913,496.38 | -34.48% | | 的净利润 | | | | | 归属于上市公司股东 | 51,733,534.4 ...

Group 1 - The 1-year and 5-year LPR will be announced on February 24, with the current rates remaining unchanged at 3.0% and 3.5% respectively, marking the eighth consecutive month of stability [2] - The domestic refined oil price adjustment window will open on February 24, following a previous increase of 205 CNY/ton for gasoline and 195 CNY/ton for diesel on February 3 [3] Group 2 - The MSCI China Index will undergo adjustments effective February 27, 2026, including the addition of 37 stocks and the removal of 16 stocks [4] - Apple Inc. will hold its annual shareholder meeting on February 24, focusing on new product development, AI technology implementation, and supply chain adjustments [5] Group 3 - A total of 56.43 billion shares of restricted stocks will be released in the A-share market from February 24 to 27, with a market value exceeding 87 billion CNY [6] - Notable companies with significant restricted stock releases include Huaxi Nonferrous and *ST Songfa, each exceeding 10 billion CNY in market value [6] Group 4 - Two new stocks will be issued in the week following the holiday, with Hai Fei Man on February 24 and Gu De Electric Materials on February 25 [8]

Industry Overview - In 2025, the Chinese chemical industry is experiencing a complex situation of cyclical bottoming and structural optimization, with significant internal differentiation [2] - Traditional basic chemicals are seeing slowed growth and prominent supply-demand structural contradictions, while specific sub-sectors are maintaining strong growth, becoming new engines for industry development [2] High-Profit Sectors Analysis - The pharmaceutical sector, particularly in chemical preparations, has an average profit margin exceeding 22%, driven by rigid demand, aging population, and high entry barriers [6][7] - The raw materials segment also maintains a profit margin around 22%, with companies like Hai Sheng Pharmaceutical and Senxuan Pharmaceutical expected to exceed 30% in annual profit margins [6][7] - The rubber deep processing sector, benefiting from the rapid development of the new energy vehicle industry, has an average profit margin of about 22%, with companies like Litong Technology and Kelong New Materials showing average profitability above 24% [8][9] - The oil and gas sector, with an average profit margin of 22%, is experiencing profit improvements due to the gradual relaxation of oil exploration and extraction permissions by the government [10] Low-Profit Sectors Analysis - The gas sector, with an average profit margin below 3%, faces challenges from price volatility and regulatory constraints, limiting its growth potential [11] - The traditional chemical products sector also struggles with an average profit margin below 3%, impacted by overcapacity and weak demand [12][13] - The petrochemical trade sector, similarly, has an average profit margin below 3%, reflecting deep-seated contradictions of overcapacity and declining demand for refined oil products [13] - The chemical fiber sector is facing profitability issues due to low demand in textiles and oversupply of conventional fibers [13] Industry Insights - The chemical industry is highly influenced by macroeconomic factors, with demand being the core variable determining product prosperity [14] - Key trends for 2025 include a shift towards high-value-added segments, the rise of the new energy industry reshaping demand structures, and the release of policy dividends in oil and gas sectors [14] - Companies like Bluestar Technology demonstrate that differentiation and technological upgrades can provide pathways for success in overcapacity industries [14]

证券代码：920098 证券简称：科隆新材 公告编号：2026-013 单位：股 | | | 是否为控股股 | | 本次 | 本次解除 | 本次解除 | 尚未解除 | | --- | --- | --- | --- | --- | --- | --- | --- | | 序 | 股东姓名或 | 东、实际控制 | 任职情况 | 解限 | 限售登记 | 限售股数 | 限售的股 | | 号 | 名称 | 人或其一致行 | | 售原 | 股票数量 | 占公司总 | 票数量 | | | | 动人 | | 因 | | 股本比例 | | | 1 | 王东平 | 否 | 换届离任 | B | 189,702 | 0.2333% | 0 | | | | | 高管 | | | | | | | | 合计 | | — | 189,702 | 0.2333% | 0 | 注：解除限售原因： A 董事、高级管理人员每年解除限售 B 离任董事、监事、高级管理人员解除限售 C 自愿限售解除限售 D 限制性股票解除限售 E 公开发行前特定主体股票解除限售 F 参与战略配售取得股票解除限售 G 其他（说明具体原因） 陕西科隆新材料科技股份有限公 ...

Group 1 - The chemical industry is showing clear signs of a cyclical turning point, with policies aimed at reducing excessive competition accelerating supply-demand improvements [3][28] - The basic chemical index has rebounded strongly, closing at 8447 points as of February 6, 2026, representing an increase of approximately 47.9% compared to the beginning of 2025 [3][13] - The chemical product price index (CCPI) reached 4066 points as of February 5, 2026, up about 6.3% from the low of 3825 points on November 5, 2025 [3][14] - The valuation of the chemical industry is recovering but remains at historically low levels, with a price-to-book ratio of 2.60 as of February 6, 2026, up about 20% from 2.17 on December 16, 2025 [3][20] - Capital expenditure in the chemical industry has turned negative since June 2025, indicating the end of the capacity expansion cycle [3][23] Group 2 - The North Exchange has several cyclical-related companies in the chemical new materials sector, including polyurethane, organic silicon, pesticides, PVC, petrochemicals, and soda ash [3][34] - Key companies in the North Exchange include Yinuowei, Jilin Carbon Valley, Jinhua New Materials, Yingtai Biological, Anda Technology, Jiaxian Co., and Deer Chemical, which are essential links in the industry chain [3][34] Group 3 - The North Exchange chemical new materials sector experienced a decline of 3.39% in the week from February 2 to February 6, 2026 [4][36] - The North Exchange 50 index closed at 1520.89 points, with a weekly decline of 0.70% [4][36] - The best-performing stocks in the North Exchange chemical new materials sector for the week included Gebijia (+7.52%), Bingyang Technology (+5.28%), and Yinuowei (+4.23%) [4][42] Group 4 - Recent announcements include the change of control at Kaide Quartz and Bingyang Technology's inclusion in the Sinopec supplier list for acid fracturing materials [5][74]

Core Insights - The demand for AI computing power is driving rapid growth in the liquid cooling sector, with companies actively pursuing mergers and acquisitions to capture market opportunities [1][2] - Traditional air cooling solutions are becoming inadequate for high-density computing environments, leading to a shift towards liquid cooling technologies due to their energy efficiency and superior heat dissipation capabilities [1] Group 1: Mergers and Acquisitions - Jinfu Technology announced plans to acquire 51% stakes in two companies specializing in liquid cooling components for a total consideration of up to 714 million yuan, aiming to enter the high-growth liquid cooling market [1] - Lingyi Technology completed the acquisition of Dongguan Liminda Electronics, enhancing its capabilities in AI server liquid cooling and establishing a foundation for international market expansion [2] - Cheng Tian Wei Ye plans to raise up to 800 million yuan for projects related to liquid cooling system industrialization and R&D, with significant investments allocated for advanced production equipment [2][3] Group 2: Commercialization and Technological Advancements - UCloud has launched an immersion liquid cooling cabinet at the Ulanqab Intelligent Computing Center, achieving a 15°C reduction in GPU temperature, thus ensuring stable hardware operation [2] - Xin'an Co. has commercialized its immersion liquid cooling project using self-developed silicon-based cooling liquid, achieving an energy usage efficiency (PUE) of below 1.1, which is over 35% more energy-efficient than traditional air cooling [3] - Kangsheng Co. is set to complete its intelligent computing center by September 2025, marking the large-scale commercial application of its immersion liquid cooling technology [3] Group 3: Industry Trends and Strategic Focus - The immersion liquid cooling solution is seen as a breakthrough for high-density computing clusters, offering reduced maintenance costs and improved equipment longevity [4] - Companies are increasingly positioning liquid cooling as a strategic growth area, with significant investments in R&D and market development [4][5] - Ningbo Jingda is focusing on liquid cooling as a new growth engine, with plans to enhance R&D efforts and collaborate with clients on technological challenges [5]

Market Overview - The rubber sector increased by 0.07% compared to the previous trading day, with Kelong New Material leading the gains [1] - The Shanghai Composite Index closed at 4102.2, up by 0.85%, while the Shenzhen Component Index closed at 14156.27, up by 0.21% [1] Stock Performance - Kelong New Material (code: 920098) closed at 30.56, with a rise of 5.02% and a trading volume of 25,200 lots, amounting to a transaction value of 77.09 million yuan [1] - Haida Co., Ltd. (code: 300320) saw a closing price of 10.35, up by 3.60%, with a trading volume of 146,100 lots and a transaction value of 149 million yuan [1] - Longxing Technology (code: 002442) closed at 6.51, increasing by 2.84%, with a trading volume of 131,200 lots and a transaction value of 84.88 million yuan [1] - Other notable stocks include Yongdong Co., Ltd. (code: 002753) with a 1.84% increase, and Sanlisi (code: 002224) with a 1.50% increase [1] Fund Flow Analysis - The rubber sector experienced a net outflow of 19.19 million yuan from main funds, while retail funds saw a net inflow of 2.69 million yuan [2] - Major stocks like Kelong New Material had a net inflow of 7.83 million yuan from main funds, indicating strong interest [3] - Conversely, Kexin Technology (code: 300731) faced a significant net outflow of 42.88 million yuan from retail investors, highlighting potential concerns [3]

证券代码：920098 证券简称：科隆新材 公告编号：2026-012 陕西科隆新材料科技股份有限公司 关于完成工商变更登记及公司章程备案 三、备查文件 《陕西科隆新材料科技股份有限公司营业执照》 并取得营业执照的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、基本情况 陕西科隆新材料科技股份有限公司（以下简称"公司"）于 2026 年 1 月 12 日 召开第四届董事会第五次会议，于 2026 年 1 月 28 日召开 2026 年第一次临时股 东会，审议通过了《关于变更经营范围并修订<公司章程>的议案》。具体内容 详见公司于 2026 年 1 月 13 日在北京证券交易所指定信息披露平台（www.bse.cn） 披露的《关于拟变更经营范围并修订《公司章程》公告》（公告编号：2026-005）。 二、工商变更登记情况 目前，公司已完成工商变更登记及公司章程备案工作，并取得了由陕西省咸 阳市行政审批服务局核发的《营业执照》。变更后的《营业执照》信息如下： 名称：陕西科隆新材料科技股份有限公司 ...

Group 1 - The rubber sector experienced a rise of 2.38% on February 3, with Sanwei Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 4067.74, up 1.29%, while the Shenzhen Component Index closed at 14127.1, up 2.19% [1] - Key stocks in the rubber sector showed significant increases, with Sanwei Co., Ltd. closing at 11.33, up 4.04%, and Tongcheng New Materials at 55.98, up 3.27% [1] Group 2 - The rubber sector saw a net inflow of 59.165 million yuan from main funds, while retail investors experienced a net outflow of 65.6837 million yuan [1] - Among individual stocks, Kexin New Energy had a main fund net inflow of 84.1227 million yuan, while Sanwei Co., Ltd. had a net inflow of 33.39 million yuan from main funds [2] - The overall trading volume in the rubber sector was substantial, with notable transactions such as Tongcheng New Materials reaching a trading volume of 133,700 shares and a transaction value of 744 million yuan [1]