富宝资讯：碳酸锂现货价格较上一交易日环比持平，富宝电池级碳酸锂报61600元/吨 金十期货5月21日讯，富宝锂电网发布数据显示，电碳现货基差指数为490元/吨（+100元/吨）；电池级 碳酸锂报61600元/吨（持平）；工业级碳酸锂（综合）报60800元/吨（持平）；电池级碳酸锂长协均价 64000元/吨（-100元/吨）；氢氧化锂指数报63583元/吨（持平）；锂辉石（非洲 SC 5%）报335美元/吨 （持平）；锂辉石（中国 CIF 6%）报655美元/吨（-15美元/吨）；锂辉石指数（5%≤ Li2O <6%）报 5200元/吨（持平）；锂云母指数（2%≤ Li2O <4%）报1760元/吨（持平）；磷锂铝石（7%≤ Li2O <8%）报7375元/吨（持平）；富锂铝电解质指数报1760元/吨（持平）；富宝卤水（硫酸锂）折扣系数 报72.5%（持平）。 ...

富宝资讯：碳酸锂现货价格较上一交易日环比下跌，富宝电池级碳酸锂报61600元/吨 金十期货5月20日讯，富宝锂电网发布数据显示，电碳现货基差指数为390元/吨（-140元/吨）；电池级 碳酸锂报61600元/吨（-300元/吨）；工业级碳酸锂（综合）报60800元/吨（-300元/吨）；电池级碳酸锂 长协均价64100元/吨（-200元/吨）；氢氧化锂指数报63583元/吨（持平）；锂辉石（非洲SC5%）报335 美元/吨（持平）；锂辉石（中国CIF6%）报670美元/吨（-15美元/吨）；锂辉石指数（5%≤Li2O<6%） 报5200元/吨（-72元/吨）；锂云母指数（2%≤Li2O<4%）报1760元/吨（-51元/吨）；磷锂铝石 （7%≤Li2O<8%）报7375元/吨（-100元/吨）；富锂铝电解质指数报1760元/吨（-30元/吨）；富宝卤水 （硫酸锂）折扣系数报72.5%（持平）。 ...

智通财经5月16日电，章源钨业发布关于调整硬面材料产品价格的通知函，因近期钨原材料价格持续上 涨，致使公司生产成本大幅增长。公司决定从2025年05月20日起，对硬面材料产品按新价格执行。自调 价之日起，产品一律按新价格执行。 因近期钨原材料价格持续上涨 章源钨业调整硬面材料产品价格 ...

农产品早报 棉花：新疆大幅增产，达到十年来最高产量水平。国际贸易环境恶劣，叠加美国取消800美金以下小包裹赦免，大量通过小包裹运输的服装订 单将受到影响。内需恢复有限，整体需求端较差。本年度供需偏宽松，后续关注国内利好政策、贸易战变动及宏观风险。 | 研究中心农产品团队 2025/05/16 | | --- | | 玉米/淀粉 | | | 玉米 | | | | | 淀粉 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 日期 长春 | 锦州 | 潍坊 | 蛇口 | 基差 | 贸易利润 进口盈亏 | 黑龙江 | 潍坊 | 基差 | 加工利润 | | 2025/05/09 2180 | 2270 | 2410 | 2370 | -105 | -35 294 | 2800 | 2950 | 47 | -61 | | 2025/05/12 2180 | 2270 | 2400 | 2370 | -93 | -35 287 | 2800 | 2950 | 50 | 11 | | 2025/05/13 2180 | 2270 | 240 ...

美国总统特朗普：药品和医疗产品价格将降低。 ...

Financial Data and Key Metrics Changes - For the first quarter, the company reported net income of approximately $15.1 million and net income to common shareholders of $9.1 million, or $0.25 per share [25] - Adjusted FFO was about $2 million or $0.06 per share, down from $5.1 million or $0.14 per share in the same quarter last year [25] - Fixed base cash rents decreased by about $5.7 million compared to the prior year quarter due to vacancies and structural changes in leases [26] Business Line Data and Key Metrics Changes - The company executed seven new leases or amended existing leases, primarily on permanent crops [8] - The year-over-year decline in fixed base rents is expected to total about $17 million for fiscal year 2025 compared to 2024 [27] - The company anticipates a total year-over-year decline of about $17 million in fixed base rents for fiscal year 2025 compared to 2024, with a reduction of approximately $4 million to $5 million per quarter [27] Market Data and Key Metrics Changes - The nut sector is vulnerable to tariffs, with 78% of U.S. grown almonds and pistachios exported annually, and the company is monitoring the impact of tariffs on pricing [20][21] - The company noted that almond prices have risen significantly year over year, while pistachios remained stable or slightly increased [21] - The weakening of the U.S. dollar may help mitigate some negative impacts from tariffs, as it makes U.S. exports cheaper for foreign buyers [23] Company Strategy and Development Direction - The company remains cautious with new investments due to high interest rates and costs of capital, leading to a slow acquisition activity [8][34] - The company plans to continue with the current lease structure for 2025 and may revert to traditional lease structures next year or consider selling some properties [14] - The company believes investing in farmland growing healthy crops aligns with market trends and expects inflation in the food sector to continue to rise [35][37] Management's Comments on Operating Environment and Future Outlook - Management expressed hope for a strong production year, particularly for almonds and pistachios, but acknowledged uncertainty until the fourth quarter [13][14] - The company is focused on maintaining liquidity and ensuring it can meet financial obligations without compromising cash reserves [56][58] - Management indicated that the current farming environment is challenging due to high borrowing costs, which could impact future operations [34][81] Other Important Information - The company has access to over $180 million of capital, including about $40 million in cash on hand [30] - The company declared a monthly dividend of $0.0467 per share for the second quarter of 2025, equating to an annualized yield of 5.8% [32] - The company is evaluating options for vacant farms, including potential new crops and leasing water rights [50] Q&A Session Summary Question: Clarification on $17 million lower revenues in '25 versus '24 - Management confirmed that an additional farm was added to the participation rent structure, contributing to the increased revenue loss estimate for 2025 [39] Question: Total participation rents expected in 2025 - Management expects to recover the $17 million loss and anticipates that insurance should cover that amount plus a small profit [40] Question: Details on the $2.4 million termination fee - The fee was related to three almond farms that are now vacant, and management is exploring options to generate income from those properties [42] Question: Additional sales in the second quarter and beyond - Management indicated that while some farms are listed for sale, there are currently no contracts to execute [48] Question: Status of vacant assets - Two of the vacant farms are open ground with low maintenance costs, while the three almond farms are at the end of their productive life [49] Question: Thoughts on share repurchase given cash balance - Management is prioritizing liquidity and is cautious about using cash for share repurchases, focusing instead on maintaining operational flexibility [56] Question: Financing for upcoming preferred stock maturity - Management is considering options including asset sales and refinancing, but is cautious due to high interest rates [71]

据华尔街日报：苹果考虑提高iPhone价格，但不会将涨价归因于关税。 ...

事件：扬农化工发布 2025 年一季报，实现营业收入 32.41 亿元，同比增长 2.04%；归属于上市公司股东的净利润 4.35 亿元，同比微增 1.35%。按 4.07 亿股的总股本计算，实现摊薄每股收益 1.07 元。 行业景气逐步企稳，一季度销量提升情况良好。公司一季度营收同比微增 2.1%，其中原药、制剂、贸易及其他业务营收分别为 18.06、8.71、5.64 亿 元，较去年同期分别增加 0.82 亿元、增加 0.09 亿元、减少 0.26 亿元；其 中原药业务营收增长是收入提升主要原因。 公司报告 | 季报点评 扬农化工（600486） 证券研究报告 一季报业绩符合预期，期待葫芦岛基地投产 辽宁优创建设稳步进行，加快推进创制药成果产出。2024 年，辽宁优创一 期第一阶段项目已经建成，正在陆续进行调试生产，功夫菊酯等多个品种 已拿出合格产品。辽宁优创一期一阶段、二阶段项目相继投产运营，将进 一步优化公司产品布局，形成新的业绩增长点，为公司持续稳健发展奠定 坚实基础。创制药方面，公司自主创制水平居行业领先，在我国自主创制、 年销售额超过亿元的 6 个品种中，公司占居 3 个。公司进一步推动创制化 ...

相较于单一的农业保险产品，"保险+期货"模式可以发挥期货市场的价格发现与套期保值功能，为农产 品价格保险提供了定价参考和风险转移的分散渠道，是近年来我国保险市场携手期货市场服务乡村振兴 和农业强国的一项创新举措。 在各方的共同努力下，"保险+期货"模式在保障农民收入、服务初级农产品保供稳价、助力乡村产业高 质量发展等方面发挥了积极作用。中国期货业协会统计显示，2023年，"保险+期货"模式为我国生猪、 玉米、苹果、天然橡胶等18个涉农品种提供了风险管理服务，项目覆盖31个省（自治区、直辖市）的 1224个县，覆盖农户539万户次。 "保险+期货"模式的创新之处主要体现在以下两点。 第一，在我国农产品定价机制改革的背景下，该模式为农产品价格风险的分散提供了一条有效的途径。 目前，"保险+期货"产品主要有两类，一类是"价格保险+期货"，或者称"保险+期货"的价格产品；另一 类是"收入保险+期货"，或者称"保险+期货"的收入保险产品。这两类产品的核心是提供价格风险保障。 相比而言，一般的农业保险产品只承保自然风险，不承保价格风险，这是因为价格风险具有系统相关 性，不属于传统可保风险。"保险+期货"借助期货市场，较好 ...

基础化工月报：三氯乙烯等价格上行，我国甲醇表观消 费量首次突破 1 亿吨 [Table_ReportDate] 2025 年 5 月 8 日 [Table_ReportDate] 证券研究报告 行业研究 [Tabl 行业e_ReportType] 月报 化工行业 张燕生 化工行业首席分析师 执业编号：S1500517050001 联系电话：+86 010-83326847 邮 箱：zhangyansheng@cindasc.com 洪英东 化工行业分析师 执业编号：S1500520080002 联系电话：+86 010-83326848 邮 箱： hongyingdong@cindasc.com 尹 柳 化工行业分析师 执业编号：S1500524090001 联系电话：+86 010-83326712 邮 箱： yinliu@cindasc.com 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲127号金隅 大厦B座 邮编：100031 [基础化工月报： Table_Title] 三氯乙烯等价格上行，我国甲醇表观 消费量首次突破 1 亿吨 [Table_Re ...