Group 1 - The core viewpoint of the news is that Milkyway (603713.SH) is enhancing its business presence in Northern China by acquiring a 30% stake in Tianjin Wuze Logistics Co., Ltd. for approximately 142 million yuan [1] - The acquisition aims to provide top-tier port hazardous goods container logistics services to clients in Tianjin and surrounding areas, optimizing the company's long-term strategic layout [1] - Tianjin Wuze, established in October 2022, is a wholly-owned subsidiary of Tianjin Port Logistics Development Co., Ltd., which is under the A-share listed company Tianjin Port (600717.SH) [1] Group 2 - Milkyway is a leading professional intelligent supply chain service provider, primarily offering integrated logistics services centered around freight forwarding, warehousing, and transportation, while extending into chemical product distribution services [2] - In 2024, Milkyway achieved operating revenue of 12.118 billion yuan, a year-on-year increase of 24.26%, and a net profit of 565 million yuan, up 31.04% [2] - The company has established six major operational regions in Greater China, including Shanghai, Southern, Northern, Shandong, Western, and Yangtze regions [2] Group 3 - In 2024, Milkyway also acquired Guangzhou Jiesheng Zhigu Pigment Co., Ltd. and established new companies, continuously improving its business layout [3] - The company's revenue in the Shanghai region reached 6.49 billion yuan in 2024, a year-on-year increase of 31.67%, while non-Shanghai regions generated 5.606 billion yuan, up 16.47% [3]

浩瀚苍穹上， "祝融号"火星车稳健穿越沙丘地形，无惧发动机1200℃高温，轻松应对火 星-120℃低温。标志着中国自主研发的 纳米气凝胶 打破了国外技术垄断； 寂静海洋里， "海斗一号"朝着更深处突破极限，验证了我国 全海深固体浮力材料 已告别了全 进口困境； 近年来我国化工企业在科技研发上屡次刷新中国速度，在多个关键基础材料上打破国际巨头垄 断。这在当前全球贸易战乌云笼罩之下，显得尤为重要。 2025年4月美国对包括中国在内的多个国家加征关税，中国随即反制，双方互征关税超过 100%，造成实际上两国贸易脱钩。 虽然目前贸易战暂停，给与 90天谈判期，但这柄达摩之剑始终是悬在头顶的巨大危险。 中国化 工行业有多款关键材料依赖进口，一旦供应受阻，对国民经济伤害甚大 。 中国化工人加速进口替代的研发，促进化工科技的崛起，已经刻不容缓。不仅关系到提高人民生 活质量，更是为了稳固重点产业链、供应链安全的必经之路。 而 国产 PTFE抗滴落剂 的发展及进口替代就是中国化工科技崛起的一个经典缩影 。 一、PTEF抗滴落剂是新能源汽车、电子等行业的关键基础性材料 PTFE抗滴落剂 是一种高性能添加剂， 主要用于热塑性塑料的 ...

一、三大指数集体飘红 6 月 5 日的 A 股市场 ，投资者的目光紧锁在行情大屏 —— 军工股集体爆发与算力板块的强 势拉升形成鲜明对照，而大消费板块的绿线则默默延伸。截至 收盘 ，上证指数微涨 0. 23 % 报 3 384.10 点，深证成指涨 0. 50 % 报 10 203 .5 0 点，创业板指涨 1.17 % 报 20 48.62 点，沪深两市半日成交额 12904 亿元， 相对昨天放量 1374 亿 ，结构性行情正成为 资金博弈的核心战场。 3 、 资金布局聚焦科技主线。两融余额突破 1.8 万亿元大关，单日增长 24.4 亿元，其中东 方财富获融资买入 8.26 亿元，新易盛、中际旭创等 TMT 个股同样获大额融资流入。今日新 发的 9 只基金涵盖混合型与债券型产品，为市场输送增量弹药。游资则围绕连板股展开攻势 —— 滨海能源 13 天 8 板，均瑶健康 8 天 6 板，短线赚钱效应持续激活交投情绪。 四 、后市展望：结构分化延续 当前市场核心矛盾凸显：一方面关税政策扰动推升避险需求，黄金配置价值凸显；另一方面低 利率环境重塑估值体系，高股息化工股（股息率普遍超 6% ）与科技成长股形成配置双 ...

Core Viewpoint - Guizhou Chuanheng Chemical Co., Ltd. maintains a stable credit rating of AA- for its corporate bonds, reflecting its competitive advantages in the phosphate market and solid financial performance [1][4]. Company Overview - The company was established on November 25, 2002, and is primarily engaged in the production and sale of phosphate rock and phosphate products [11]. - As of March 2025, the company has a registered capital of 539 million yuan, with Sichuan Chuanheng Holding Group Co., Ltd. holding 51.54% of the shares [11]. Financial Performance - In 2024, the company achieved total revenue of 5.906 billion yuan, a year-on-year increase of 36.72%, and a profit of 1.173 billion yuan, up 21.44% from the previous year [6][10]. - The company's total assets reached 12.923 billion yuan, with owner’s equity at 7.229 billion yuan by the end of 2024 [11]. - The company’s total debt decreased to 3.934 billion yuan by the end of 2024, down 5.62% from the previous year [7][10]. Market Position and Competitive Advantage - The company holds a leading market share in the domestic market for feed-grade monoammonium phosphate and has a strong competitive position in the phosphate industry [14]. - The company has a robust resource reserve, with significant phosphate rock resources across multiple mining rights, ensuring stable raw material supply [14]. Risk Factors - The company faces risks related to international trade, including trade protection measures and exchange rate fluctuations, as a significant portion of its revenue comes from exports [7][20]. - There are potential investment risks associated with the construction of new projects and the overall market environment [5][7]. Future Outlook - The company plans to enhance its competitive edge by expanding its phosphate chemical industry chain and completing ongoing projects [5][6]. - The credit outlook remains stable, with potential for upgrades if the company significantly expands its business and asset scale [5][6].

行业报告 | 行业研究周报 基础化工 证券研究报告 前 4 月化学原料和化学制品制造业利润总额 1150 亿 元，TDI、百草枯价格上涨 上周指 25 年 5 月 19-25 日（下同），本周指 25 年 5 月 26 日-6 月 1 日（下同）。 本周重点新闻跟踪 5 月 27 日，国家统计局发布数据，1—4 月份，全国规模以上工业企业实现利润总 额 21170.2 亿元，同比增长 1.4%。其中，1—4 月份，采矿业实现利润总额 2875.0 亿元，同比下降 26.8%；制造业实现利润总额 15549.3 亿元，增长 8.6%；电力、热 力、燃气及水生产和供应业实现利润总额 2745.8 亿元，增长 4.4%；化学原料和化 学制品制造业营业总额为 29439.3 亿元，利润总额为 1150 亿元，下降 4.4%。 本周重点产品价格跟踪点评 本周 WTI 油价下跌 1.2%，为 60.79 美元/桶。 重点关注子行业：本周 TDI/醋酸价格分别上涨 2.9%/1.3%，VE/橡胶/VA/电石法 PVC/ 轻 质 纯 碱 / 乙 二 醇 / 氨 纶 / 乙 烯 法 PVC/ 聚 合 MDI 价 格 分 别 下 ...

光大期货煤化工商品日报 光大期货煤化工商品日报（2025 年 6 月 5 日） 一、研究观点 | 品种 | 点评 | 观点 | | --- | --- | --- | | 尿素 | 周三尿素期货价格宽幅震荡，走势先抑后扬。截至收盘主力09合约报1774元/吨，日 | 震荡 | | | 环比收平。现货市场多数稳定，个别地区小幅波动，山东、河南地区市场价格分别 | | | | 稳定在1870元/吨、1850元/吨。近期尿素供应水平高位波动，昨日行业日产量20.47 | | | | 万吨，日环比下 0.16万吨。需求端跟进仍较为谨慎，农业产区麦收，对农资采购 | | | | 动分散。昨日主流地区尿素产销率徘徊在20%~50%区间，仅个别地区能达到产销 | | | | 平衡。另外，近期部分下游开工下滑，对尿素刚需也有所减弱。本周尿素企业库存 | | | | 提升5.59%，部分企业为缓解出货压力出现低端价格松动现象。整体来看，麦收结束 | | | | 后尿素需求及出口仍有放量预期，但尿素价格上方限制依旧明显。尿素期货价格同 | | | | 时受商品市场整体情绪波动而波动，但期价上方也仍有明显限制。预计短期尿素期 | ...

深圳商报·读创客户端记者 穆砚 鉴于本次交易属于公开挂牌竞标事项，存在不确定性且涉及商业秘密，在摘牌成功之前披露该事项及交 易金额存在可能会损害公司利益或误导投资者的情形。根据《相关法律法规、规章制度的规定，董事会 审议通过该议案之后，公司暂缓披露了该事项，待成功摘牌之后再及时履行信息披露义务。 根据北京天健兴业资产评估有限公司出具的评估报告，截至评估基准日2024年8月31日，标的公司账面 资产总额为52,794.43万元，评估价值为54,540.18万元；账面负债总额为12,685.29万元，评估价值为 7,357.69万元；账面净资产总额为40,109.14万元，评估价值为47,182.49万元；标的公司30%股权在评估 基准日的评估价值为14,154.747万元。 公告表示，公司本次收购天津物泽30%股权，是更好地向天津及周边地区客户提供国内一流水平的港口 危险货物集装箱全链条物流服务，完善资源配置，进一步优化公司长期战略布局。本次标的资产收购完 成后，不会产生关联交易，不会与关联人产生同业竞争的情况。 根据北京天健兴业资产评估有限公司出具的评估报告，截至评估基准日2024年8月31日，标的公司30% ...

Core Insights - The conference highlighted that fine chemicals are not only the core driving force for high-quality development in the petrochemical industry but also a strategic support for industrial upgrading and the cultivation of new productive forces [1] Industry Structure - Fine chemicals refer to fine chemical products and new chemical materials, contrasting with basic chemicals, as defined in the "Implementation Plan for the Innovation and Development of the Fine Chemical Industry (2024-2027)" [2] - China's annual production capacity for fine chemicals is nearing 200 million tons, with a supply guarantee rate of 90% [2] - The industry has a strong global competitive position, with market shares of 75% in pesticides, 70% in rubber additives, and 60% in food organic acids and feed vitamins [2] - Structural contradictions exist, with self-sufficiency rates exceeding 130% for food additives and traditional pesticides, while rates for products like photoresists and specialty gases are below 20% [2] Technological Innovation - There is a significant gap between the performance of fine chemicals and downstream expectations, with 99% of fine chemicals producible but lacking stability and quality compared to international standards [3] - Continuous R&D innovation is essential for industry transformation, as exemplified by Shin-Etsu Chemical's evolution from a fertilizer plant to a leading global player in PVC and semiconductor silicon materials [3] - Market-driven technological advancements are crucial, with adhesives evolving from auxiliary materials to functional solutions in various industries [3] Innovation Trends - High-performance fibers, such as PBO fibers, are emerging as key materials, with a single 1mm diameter PBO fiber capable of lifting 450 kg [4] - Silicon carbide fibers are gaining attention for their high-temperature resistance and applications in various industrial sectors [4] - New high-performance materials, including ethylene-acrylic copolymers and carbon nanotubes, are showing promise in multiple applications due to their superior properties [5] - Silicon-based new materials are expected to disrupt the coatings and adhesives industries, with modified silicone resins capable of withstanding extreme temperatures [5]

Project Overview - The company has obtained project registration for the "End Amino Polyether Technical Transformation Project" from the Zibo Administrative Approval Service Bureau on June 3, 2025 [1] - The project will enhance the existing 40,000 tons/year end amino polyether production facility to a total capacity of 100,000 tons/year, adding 60,000 tons/year of end amino polyether and approximately 100,000 tons/year of ammonia water as a byproduct [1][4] - The project will utilize existing industrial land and will not require additional land acquisition [1] Financial and Operational Details - The total investment for the project is 200 million yuan, funded through self-owned or self-raised capital [2] - The project is scheduled to commence in 2025 and conclude in 2026 [2] Internal Review and Impact - The project requires approval from the company's board of directors before implementation [3] - End amino polyether is a crucial chemical raw material with applications in various industries, including wind energy, automotive, and polyurethane, indicating a stable and growing market demand [3] - The project aims to optimize production processes, enhance automation, and improve production efficiency while reducing energy consumption and emissions [4][5] Strategic Alignment - The project aligns with the company's long-term strategic plan to deepen its presence in the new materials sector and diversify its product offerings in the polyurethane field [5]

点击 最 下方 " 推荐"、"赞 "及" 分享 "，"关注"材料汇 添加 小编微信 ，遇见 志同道合 的你 化工新材料品类丰富，细分领域包括 特种工程塑料、高性能纤维、膜材料、电子化学品、新能源材料和生物基材料 等。据中国石油和化学工业联合会，19 年全球/国内化工新材料市场规模约3700亿美元/9000亿元，预计25年将达到4800亿美元/1.5万亿元，CAGR约4.4%/8.6%。国内方面，随着半导体、电 子电器、新能源、汽车、军工等领域转型升级，叠加中美贸易摩擦后产业链自主可控理念深入下游引领性企业，化工新材料需求有望持续增长，但整体上国 内在特种工程塑料、气凝胶、半导体材料等诸多领域仍处于发展早期，国产化替代需求较大，未来国内企业发展空间广阔。 政策支持下国内企业磨砺已久，新材料有望迎来突破拐点 21年12月，工信部发布《重点新材料首批次应用示范指导目录（2021年版）》，化工领域包括高性能纤维及复合材料、先进半导体材料和新型显示材料等 多个品种。据EUIndustrial R&DInvestment Scoreboard，19年全球研发投入Top 2500企业中，化工领域中国企业研发投入约17亿欧元 ...