各位老铁下午好，这里是帮主郑重的收评时间。20年财经老炮儿的眼睛今天盯着盘面直冒火星——三大指数集体扑街，4400只个股绿得发慌，但你们猜怎么 着？有三个狠角色硬是在废墟里点起了火把，这场面比灾难片还刺激！ 先给各位报个战损：创业板指跌得亲妈都快认不出来了，新能源、科技这些曾经的小甜甜，现在成了牛夫人。但有意思的是，中信银行、青岛银行这些大块 头居然逆势飘红，活像暴雨天里撑着伞逛菜市场的大爷。要我说，这分明是资金在玩"躲猫猫"，行情越差越往银行里钻，毕竟股息率5%的银行股，现在比 余额宝香多了。 但今天真正的戏肉在游戏板块！昆仑万维20cm涨停的架势，比王者五杀还带劲。你们知道为啥吗？5月份游戏版号发了144款，创了年内新高，政策暖风直 接吹爆预期。更绝的是AI+游戏的化学反应——《诛仙世界》新游上线首日30万人排队，这哪是玩游戏，分明是给游戏股充钱！不过帮主得泼盆冷水，游戏 股向来是"涨停敢死队"的游乐场，咱们中长线玩家要看准AI技术真落地的标的。 最后送各位一句帮主名言：行情越癫狂，越要像老中医把脉——沉着气找准病灶。现在的A股就像台风天的渔市，满地狼藉里往往藏着最肥美的海鲜。我是 帮主郑重，20年市场沉 ...

Investment Rating - The report maintains an "Outperform" rating for the chemical industry, indicating a positive outlook based on current valuations and expected demand recovery [1]. Core Insights - The basic chemical industry showed a year-on-year recovery in profitability in Q1 2025, with revenue and net profit increasing by 5.58% and 13.33%, respectively [4][45]. - The oil and petrochemical sector's performance remains stable despite short-term fluctuations in oil prices, with a slight decline in revenue and net profit [27][33]. - The report highlights that the construction projects in the basic chemical sector experienced a negative growth for the first time in five years, indicating potential challenges ahead [20]. Summary by Sections Industry Overview - In Q1 2025, the basic chemical industry achieved total revenue of 534.57 billion yuan and a net profit of 34.26 billion yuan, marking the first year-on-year growth in nearly three years [4][5]. - The oil and petrochemical sector reported total revenue of 1,931.83 billion yuan, a decrease of 6.78% year-on-year, with net profit declining by 6.35% [27][30]. Profitability Metrics - The basic chemical industry's gross margin and net margin improved to 16.91% and 6.63%, respectively, with a return on equity (ROE) of 1.85% [11][45]. - The oil and petrochemical sector maintained a gross margin of 19.19% and a net margin of 5.74%, with a slight decrease in ROE to 2.82% [33][38]. Sub-industry Performance - Among 33 sub-industries in the basic chemical sector, 22 reported revenue growth, with significant increases in other chemical raw materials (+29.08%) and compound fertilizers (+25.84%) [4][10]. - The oilfield services segment within the oil and petrochemical sector saw a robust net profit growth of 29.82% [27][31]. Construction and Investment Trends - The basic chemical sector's construction projects totaled 363.16 billion yuan, reflecting a 6.04% year-on-year decrease, the first negative growth in five years [20][23]. - The oil and petrochemical sector's construction projects increased by 8.23% to 582.72 billion yuan, indicating ongoing investment despite revenue declines [40][41]. Market Valuation - As of May 11, 2025, the price-to-earnings (P/E) ratio for the basic chemical sector was 21.92, and for the oil and petrochemical sector, it was 10.58, both indicating low historical valuations [1][23].

5月20日晚间，粤桂股份发布公告，公司拟向特定对象发行A股股票募集资金不超过9亿元，用于10万吨/ 年精制湿法磷酸项目等三大项目建设。 时隔十年，粤桂股份（000833）(000833.SZ)再次进行募资。 长江商报记者注意到，10万吨/年精制湿法磷酸项目与粤桂股份硫化工产业板块子公司云硫矿业的产品 深度相关。粤桂股份上一次实施定增就是在2015年，用于收购云硫矿业，并进行配套建设。 粤桂股份表示，这些项目的实施将加快公司在新能源材料制造领域的战略布局，推动公司产业转型升 级。 拟募资9亿推动产业链延伸 十年前，为拿下云硫矿业的股权，粤桂股份曾进行募资。2015年8月31日，粤桂股份进行募资，实际募 集资金净额约17.27亿元，主要用于收购云浮广业硫铁矿集团有限公司100%股权，同时配套投入相关项 目建设。当年10月12日，公司再度定向增发，实际募集资金净额约5.64亿元，继续补充收购云浮广业硫 铁矿集团的配套资金，并用于硫化工产业链的整合与升级。 业绩方面，2024年，粤桂股份营业收入约为28亿元，同比下降16.8%；净利润为2.79亿元，同比增长 320%。报告期，云硫矿业凭借资源优势和技术创新，保持行业 ...

广西粤桂广业控股股份有限公司 （注册地址：广西壮族自治区贵港市贵港高新区粤桂产业园幸福路 1 号） 使用可行性分析报告 （万元） 二〇二五年五月 一、本次发行募集资金的使用计划 公司本次向特定对象发行 A 股股票拟募集资金总额（含发行费 用）不超过 90,000.00 万元，扣除相关发行费用后的净额将用于以下 项目： 拟投入募集资金金 序 项目投资总额 项目名称 额 号 （万元） 磷酸项目 广东省英德市下太镇 英砂岩矿投资项目 云硫矿业碎磨系统大 建设 合计 226,025.92 90,000.00 项目投资总额高于本次募集资金拟投资金额部分，由公司自筹解 决。募集资金到位后，若本次发行扣除发行费用后的实际募集资金低 于本次募集资金拟投资金额，在最终确定的本次募集资金投资项目范 围内，公司将根据实际募集资金数额，按照项目的轻重缓急等情况， 调整并最终决定募集资金的具体投资项目、优先顺序及各项目的具体 投资额，募集资金不足部分由公司自筹解决。 在本次募集资金到位前，公司将根据项目进度的实际情况，以自 有资金或其他方式筹集的资金先行投入，并在募集资金到位后按照相 关法规规定的程序予以置换。 二、本次募集资金投资项 ...

基础化工 | 证券研究报告 — 行业点评 2025 年 5 月 19 日 强于大市 化工行业 2024 年年报综述 基础化工静待复苏，石油石化保持稳健 2024 年基础化工行业盈利能力降至近年低位，部分子行业业绩改善；石油石化行业收 入、业绩保持稳健。随着经济复苏、需求端持续向好，行业景气度有望回升，当前板 块估值较低，维持行业 强于大市 评级。 支撑评级的要点 投资建议 评级面临的主要风险 油价异常波动风险；国际贸易摩擦风险；周期持续下行风险；行业竞争加剧风险； 项目进展不及预期风险；汇率变动风险。 《化工行业周报 20250511》20250512 《化工行业周报 20250505》20250506 《2025 年 4 月中共中央政治局会议化工行业相 关要点及解读》20250505 中银国际证券股份有限公司 具备证券投资咨询业务资格 相关研究报告 基础化工 证券分析师：余嫄嫄 (8621)20328550 yuanyuan.yu@bocichina.com 证券投资咨询业务证书编号：S1300517050002 联系人：赵泰 基础化工：2024 年营收略改善，盈利能力或底部企稳 营收同比略提升，归母净利润 ...

2024年负极材料行业的发展并不轻松，虽然我国全年的负极材料出货量达到208万吨，同比增长26%， 但产能过剩、产品利润走低等潜在挑战依旧突出，这导致行业出现了明显的两极分化，头部企业集中度 持续上行，CR6达到了76%，许多小企业则因无法承受成本压力和技术门槛而逐渐退出了市场。 由此可见，晖阳新能源已在创新驱动产品性能、高性能产品推动客户拓展以及产品多元化覆盖层面形成 了完整的生态闭环，其以创新为根基的发展模式让公司具备了强大的市场竞争力，目前晖阳新能源已具 备了筛选较高毛利订单的能力。 放眼未来，晖阳新能源的高成长仍将延续。一方面，行业需求的不断增长将为晖阳新能源的持续成长奠 定坚实基础。据鑫椤锂电预测，2025年全球负极材料产量有望达262.5万吨，国内占比超过98%，到 2028年时，全球负极材料产量将进一步增长至402.3万吨，即从2024至2028年的复合增速达到16.71%， 全球负极材料行业未来四年仍将持续稳定成长。 但就在这样割裂的市场环境下，仍不乏有企业实现了持续的高成长，展现出了行业"黑马"之姿，它就是 在美股上市的晖阳新能源(EPOW.US)。 据晖阳新能源公众号消息显示，其于2024 ...

证券代码：000546 证券简称：金圆股份 金圆环保股份有限公司 投资者关系活动记录表 编号：2025-001 | 投资者关系活动类别 | ☐特定对象调研 ☐分析师会议 | | --- | --- | | | ☐媒体采访 业绩说明会 | | | ☐新闻发布会 ☐路演活动 | | | ☐现场参观 | | | ☐其他（请文字说明其他活动内容） | | 参与单位名称及人员姓名 | 线上参加公司2024年度业绩说明会的全体投资者 | | 时间 | 2025年05月16日 15:00-17:00 | | 地点 | 价值在线（https://www.ir-online.cn/）网络互动 | | 上市公司接待人员姓名 | 董事长 邱永平 | | | 总经理 连长云 | | | 财务负责人兼总会计师、董事会秘书、副总经理 黄波 | | | 独立董事 王晓野 1.请问公司在尼日利亚项目进展如何，目前人员招聘是否到 | | | 位，是否已有在合作项目 | | 投资者关系活动主要内容 | 答:投资者您好，公司目前在尼日利亚开展前期调查评估，并 派专人跟进相关工作，后续我们将严格按照相关法律法规的要求及 | | 介绍 | 时履行信 ...

NCA 及 超高镍 9 系三元材料 ： 三元动力 电池技术新标杆 2025 年 5 月 15 日至 17 日，第十七届深圳国际电池技术交流会 / 展览会（ CIBF 2025 ） 在深圳盛大召开， 超 3200 家参展商 和 40 万观众齐聚深 圳，共话新能源电池技术新纪元。在这个全产业链生态聚合的年度盛会，盟固利新材料携 4.55V 钴酸锂 / O2 相钴酸锂、 NCA 及 超高镍 三元 9 系 、 高熵 复合材料等多款前沿材料集体亮相，以硬核产品向全球伙伴展示技术实力 。 NCA 产品， 具有 低 DCR 、高倍率循环、高稳定性等 特点 ， 同时 具备高体积密度、高功率续航、高安全的性能， 继 NCA 产品 完成国产替代并正式导入 国内头部企业以来 ， 与战略客户共同推动 NCA 产品的应用场景挖掘，并在包括高端电动工具、人形机器人、 UPS 等多个新兴领域得以应用与拓展。 关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤锂电 资讯~ 本文来源： 盟固利 4.55V 高电压钴酸锂 / O2 相钴酸锂：消费电子续航革命 本届展会 4.55V 高电压钴酸锂 /O2 相钴酸锂技术首 ...

Core Viewpoint - The third National Postdoctoral Innovation and Entrepreneurship Competition has launched a "Challenge and Lead" project list, featuring 766 technology projects that seek participation from postdoctoral researchers and teams [1][2]. Group 1: Competition Overview - The competition is the largest and most comprehensive postdoctoral event in China, aimed at promoting the integration of industry, academia, and research [1]. - The "Challenge and Lead" segment invites enterprises to present technical challenges, which postdoctoral researchers are encouraged to solve [1]. Group 2: Project Details - A total of 766 project demands have been released, focusing on four key areas aligned with national strategies and cutting-edge scientific technologies, with a total planned investment exceeding 40 billion yuan [2]. - The projects cover seven major directions, including new generation information technology and artificial intelligence, high-end equipment manufacturing, and robotics [2]. - The top areas of demand include: - New generation information technology and artificial intelligence: 143 projects (18.7%) - Biomedicine and health: 140 projects (18.3%) - New materials and petrochemicals: 135 projects (17.6%) - High-end equipment manufacturing and robotics: 131 projects (17.1%) - New energy and energy conservation: 93 projects (12.1%) - Modern agriculture and food: 67 projects (8.7%) - Other industries: 57 projects (7.4%) [2]. Group 3: Participation and Timeline - The project list has been publicly released on various platforms, including the China Postdoctoral website and the official competition website [3]. - The registration deadline for participation is July 31, 2025, with successful teams invited to the finals in Quanzhou, Fujian Province, in mid to late October [3].

Group 1: Investor Relations Activity Overview - The investor relations activity took place on May 13, 2025, at the company's technology park in Shenzhen, Guangdong Province, with a total of 46 investors attending [3][4]. - Key attendees included representatives from various investment firms such as Bosera Fund, Shenwan Hongyuan, and CITIC Securities [3]. Group 2: New Product Launch - The company launched the "Beian FLEX" semi-solid and "GUARD" all-solid-state battery materials, providing solutions for next-generation battery technology with a focus on "high energy + high safety" [5]. - The high-nickel positive electrode material in the Beian FLEX series reduces resistance by 6% compared to equivalent nickel content ternary materials, while the silicon-based negative electrode can achieve a capacity of 2,300 mAh/g [5]. Group 3: Production and Market Insights - The company has the production technology for solid-state battery materials, with 2024 expected to be a representative year for semi-solid battery product shipments, while 2027 is anticipated for large-scale production of all-solid-state batteries [6]. - The company is strategically positioned in the solid-state battery materials market, leveraging its extensive R&D background and engineering capabilities [7][8]. Group 4: Cost and Production Challenges - The third-generation silicon-based materials are currently in mass production, with costs comparable to industry standards [9]. - The company faces challenges in scaling up the production of sulfide materials, which still have high production costs despite recent reductions [12]. Group 5: Future Growth and Strategic Planning - The company aims to transition from a material supplier to a provider of comprehensive battery material solutions, focusing on new technologies and products to enhance value for customers [15]. - The strategic focus on high-nickel materials and overseas market expansion is expected to drive growth, with a significant emphasis on developing a closed-loop recycling system for materials [16]. Group 6: Market Dynamics and Competitive Landscape - The company acknowledges the downward pressure on prices due to market oversupply and the need for technological breakthroughs to reduce costs [18]. - The competitive landscape in the negative electrode market is evolving, with the company emphasizing the importance of balancing cost and performance in new product developments [19].