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研报掘金丨华鑫证券:予深圳新星“买入”评级,业绩拐点明确,新项目投产在即
Ge Long Hui A P P· 2025-09-11 05:52
Core Viewpoint - Shenzhen New Star achieved revenue of 1.5 billion yuan in H1 2025, representing a year-on-year increase of 29%, while the net profit attributable to shareholders was -22 million yuan, indicating a significant reduction in losses [1] Financial Performance - In Q2, the net profit attributable to shareholders was -25 million yuan, primarily impacted by the lithium hexafluorophosphate business [1] - As of September 10, the price of lithium hexafluorophosphate was 56,500 yuan per ton, an increase of approximately 15% from July 21, which corresponds to a rise of 7,300 yuan per ton [1] Future Outlook - The recovery in lithium hexafluorophosphate prices is expected to lead to a turning point in the company's profitability [1] - The company is actively expanding into new businesses, with a clear growth path ahead [1] - The installation of a 20,000-ton boron trifluoride complex production line and a 10,000-ton boron trifluoride gas production line is nearing completion, with production expected to commence in October 2025 [1] Market Demand - Boron trifluoride is primarily used for producing boron-10 isotopes, which have strong demand in nuclear reactor control agents, fast reactor control rods, and nuclear waste treatment [1]