登录新浪财经APP 搜索【信披】查看更多考评等级 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误导性陈述或重大遗 漏。 三、业绩变动原因说明 2025年，钢铁行业结构优化纵深推进、效益修复有所改善，铸管市场需求进入平台期，虽供需矛盾突 出，但城市更新、地下综合管网改造支撑差异化产品需求。报告期内，面对行业发展机遇与复杂市场变 化并存的格局，公司以"质量效益再提升"专项行动为抓手，通过加大拓市增收力度、优化产品结构、强 化成本管控等有力举措，实现公司全年金属产品量、利润总额等核心指标同比大幅增长。 四、风险提示 本业绩预告为公司财务部门的初步测算结果，具体财务数据将在公司2025年度报告中详细披露。敬请广 大投资者谨慎决策，注意投资风险。 特此公告 一、本期业绩预计情况 1、业绩预告期间：2025年1月1日至2025年12月31日 2、业绩预告情况：预计净利润为正值且属于同向上升50%以上情形 ■ 二、与会计师事务所沟通情况 本次业绩预告未经会计师事务所审计。公司与会计师事务所就业绩预告有关事项进行了预沟通，双方在 业绩预告方面不存在分歧，具体数据以审计结果为准。 新兴铸管股份有限公 ...

2025年，钢铁行业结构优化纵深推进、效益修复有所改善，铸管市场需求进入平台期，虽供需矛盾突 出，但城市更新、地下综合管网改造支撑差异化产品需求。报告期内，面对行业发展机遇与复杂市场变 化并存的格局，公司以"质量效益再提升"专项行动为抓手，通过加大拓市增收力度、优化产品结构、强 化成本管控等有力举措，实现公司全年金属产品量、利润总额等核心指标同比大幅增长。 格隆汇1月29日丨新兴铸管(000778.SZ)发布2025年度业绩预告，报告期内，归属于上市公司股东的净利 润7.83亿元—11.74亿元，同比增长367.51%—601.26%；扣除非经常性损益后的净利润5.95亿元—8.92亿 元，比上年同期由负转正；基本每股收益0.1974元/股—0.2961元/股。 ...

南财智讯1月29日电，新兴铸管发布年度业绩预告，预计2025年全年归属于上市公司股东的净利润为 78280.65万元—117420.98万元，同比预增367.51%—601.26%；预计2025年全年归属于上市公司股东的 扣除非经常性损益的净利润为59470.31万元—89205.46万元。2025年，钢铁行业结构优化纵深推进、效 益修复有所改善，铸管市场需求进入平台期，虽供需矛盾突出，但城市更新、地下综合管网改造支撑差 异化产品需求。报告期内，面对行业发展机遇与复杂市场变化并存的格局，公司以"质量效益再提升"专 项行动为抓手，通过加大拓市增收力度、优化产品结构、强化成本管控等有力举措，实现公司全年金属 产品量、利润总额等核心指标同比大幅增长。 ...

【导读】商务部等9部门发布关于促进药品零售行业高质量发展的意见 1月22日，商务部、国家发展改革委、工业和信息化部、国家卫生健康委、市场监管总局、金融监管总局、国家医保局、国家中医药局、国家药监局发布 《关于促进药品零售行业高质量发展的意见》（以下简称《意见》）。 为推动药品零售行业专业化、集约化、数字化、规范化发展，从"药品销售终端"转型为服务人民医药健康需求的"健康驿站"，《意见》围绕完善药事服 务、创新健康服务、强化应急服务、优化行业结构、规范行业秩序等五个方面提出18项具体举措。 基金君整理要点如下： 商务部等9部门关于促进药品零售行业高质量发展的意见 药品零售行业是国家医药卫生事业的重要组成部分，关系人民健康和生命安全。为贯彻落实党中央、国务院有关决策部署，强化药品零售行业专业服务、 健康促进、应急保供等功能，打造更好服务人民医药健康需求的"健康驿站"，现提出如下意见： 一、总体要求 坚持以习近平新时代中国特色社会主义思想为指导，全面贯彻党的二十大和二十届历次全会精神，坚持政府引导与市场主导相结合、创新驱动与规范发展 并重，积极优化政策环境，培育和壮大经营主体，推动药品零售行业专业化、集约化、数字化 ...

（原标题：九部门发布关于促进药品零售行业高质量发展的意见） 药品零售行业是国家医药卫生事业的重要组成部分，关系人民健康和生命安全。为贯彻落实党中央、国 务院有关决策部署，强化药品零售行业专业服务、健康促进、应急保供等功能，打造更好服务人民医药 健康需求的"健康驿站"，现提出如下意见： 一、总体要求 坚持以习近平新时代中国特色社会主义思想为指导，全面贯彻党的二十大和二十届历次全会精神，坚持 政府引导与市场主导相结合、创新驱动与规范发展并重，积极优化政策环境，培育和壮大经营主体，推 动药品零售行业专业化、集约化、数字化、规范化发展，增强内生动力，激发市场活力，推动高质量发 展，更好满足人民群众医药健康需求。 （七）提升健康服务体验。鼓励地方出台数字化、智能化健康服务升级专项支持政策。推动依托实体医 疗机构的互联网医院打造零售药店健康咨询中心，配备远程健康咨询相关设施设备，依法依规提供便民 二、完善药事服务 远程健康服务，承接复诊外配处方、配药购药及后续健康服务。鼓励偏远山区等配送困难地区探索无人 机配送业务。鼓励保险机构开发无人机药械配送责任险。 （一）提升药学服务能力。完善零售药店经营服务指南，拓展和优化药学服 ...

Industry Overview - Major companies such as Shanying, Jiu Long, APP, and Asia Pacific Forest have announced price increases for their products, effective from late November to early December. The price increase for packaging paper is moderate, around 50 yuan/ton, while cultural paper sees a significant rise of 200 yuan/ton [1] - The concentration trend in the paper industry is clear, with several large paper companies, including Shanying and Jiu Long, announcing maintenance plans that will temporarily reduce supply and accelerate the elimination of inefficient capacity. Leading companies are gaining dominance in the price increase wave due to their full industry chain layout and channel control [1] Market Dynamics - The market anticipates continued appreciation of the RMB over the next two months, which benefits the paper sector. The fundamental improvement signals are clear, highlighting the sector's allocation value. The current logic for profit recovery in the paper industry is evident, with price increases in packaging paper resonating with the reduction of pulp inventory. On the demand side, restocking demand continues; on the supply side, paper companies' maintenance and changes in import policies are constraining supply; on the cost side, stable to rising pulp prices support product pricing. The sector's valuation is at historical lows, further emphasizing allocation value due to structural optimization in the industry [2] Company Insights - Xianhe Co., Ltd. is a leading player in specialty paper, strategically positioned in the consumer sector and successfully advancing towards pulp-paper integration. The company has production bases and joint ventures in various regions, with an annual production capacity exceeding 2 million tons across over 60 varieties in six major series [3] - Sun Paper Industry is expected to release profit increments in the fourth quarter as new production capacity comes online [4]

Core Viewpoint - The A-share market indices opened lower on October 10, but the China Petroleum and Chemical Industry Index rebounded, indicating potential recovery in the petrochemical sector driven by capacity control and policy changes [1]. Industry Summary - The China Petroleum and Chemical Industry Index saw a rise of approximately 0.4%, with leading stocks including Yara International, Luxi Chemical, Rongsheng Petrochemical, and Guangdong Hongda [1]. - The Petrochemical ETF (159731) followed the index's upward trend, reflecting positive market sentiment [1]. - According to Founder Securities, strict capacity control is expected to end deflation in pricing, leading to an upward trend in the price system and improved industry capacity utilization [1]. - The renovation of outdated equipment is anticipated to stimulate demand for petrochemical equipment upgrades, while the "reduce oil and increase chemicals" policy direction is likely to enhance corporate profitability and boost gross margins [1]. ETF and Sector Analysis - The Petrochemical ETF (159731) and its linked funds (017855/017856) closely track the China Petroleum and Chemical Industry Index [1]. - The top three sectors within the index, according to Shenwan's secondary industry classification, are refining and trading (25.60%), chemical products (23.72%), and agricultural chemical products (19.91%), which are expected to benefit from policies aimed at reducing competition, restructuring, and eliminating outdated capacity [1].

Investment Rating - The industry rating is "Overweight" with expectations of a relative increase of 6-12% against the benchmark index in the next 6-12 months [32]. Core Insights - The report emphasizes a shift from a "scale-oriented" approach to a "return-oriented" strategy, focusing on investor returns and long-term value [11][25]. - Key measures include the introduction of a floating management fee mechanism, enhanced transparency in information disclosure, and a restructured performance evaluation system for fund managers [6][12][25]. Summary by Sections Policy Background and Development History - The report outlines the evolution of the public fund industry in China, highlighting significant reforms since the revision of the Securities Investment Fund Law in 2013, including the introduction of net value management and enhanced information disclosure [11][10]. Core Measures Interpretation - **Investor Interest Protection**: The report details reforms aimed at reducing fixed fees and implementing a floating management fee structure linked to fund performance, with a target for leading institutions to adopt this for 60% of new active equity funds within a year [10][12]. - **Restructuring Industry Evaluation Mechanism**: It emphasizes the need for improved transparency in fund performance metrics, including long-term returns and investor gains, to enhance investor decision-making [12][13]. - **Optimizing Product Supply and Industry Structure**: The report advocates for increasing the proportion of equity investments and expediting the registration process for equity funds, aiming to diversify product offerings and attract long-term capital [14][20]. - **Strengthening Regulation and Compliance**: It discusses the establishment of a multi-layered liquidity risk prevention mechanism and stricter oversight of fund management practices to ensure industry stability [21][24]. Policy Changes and Impacts - The report identifies five key areas of transformation: incentive mechanism reform, enhanced investor protection, strengthened regulatory enforcement, optimized industry structure, and a focus on long-term investment [25][26]. - The anticipated impact includes increased stability in the capital market, a shift towards quality in asset management, and improved investor experiences through better cost structures and transparency [28][29].