行业重要动态 硫酸行业保供稳价，助力保障国家粮食安全。据中化新网，12月18日，中国硫酸工业协会联合中国磷复 肥工业协会召开专题会议，聚焦硫酸与磷复肥行业保供稳价工作，明确多项调控措施，以保障春耕前化 肥供应稳定及价格平稳，夯实国家粮食安全的农资保障基础。据中国磷复肥工业协会，磷肥作为粮食 的"粮食"，其供应稳定性直接关乎国家粮食安全大局与农民种粮积极性。当前，国际硫磺供应持续紧 张，直接推高全球硫资源价格，导致磷肥生产原料成本大幅激增。硫酸作为磷肥生产的核心原料，近期 价格波动不断加剧，给磷肥企业正常生产经营带来显著压力。会议提出三项举措，包括硫酸供应向磷肥 生产倾斜、推进建立长期稳定购销关系、合理确定硫酸价格，旨在严格落实"国内优先"供应原则，全力 保障春耕用肥原料需求。据钢联数据，截至12月19日，硫酸（98%冶炼酸，山东）市场价为865元/吨， 12月以来涨幅为8.81%，本年涨幅高达162.12%。隆众资讯预计，在"保供稳价"政策的引导下，后续硫 酸市场将逐步降温，部分区域或出现回调可能。 上海证券近日发布基础化工行业周报：过去一周（12.13-12.19），基础化工指数涨跌幅为2.58%，沪深 3 ...

截至12月19日，广东宏大股东户数2.36万，较上期减少16.44%；人均流通股27984股，较上期增加 19.68%。2025年1月-9月，广东宏大实现营业收入145.52亿元，同比增长56.95%；归母净利润6.53亿元， 同比增长0.54%。 分红方面，广东宏大A股上市后累计派现22.48亿元。近三年，累计派现12.88亿元。 今年以来广东宏大已经2次登上龙虎榜，最近一次登上龙虎榜为12月8日，当日龙虎榜净买入-1.28亿 元；买入总计1.93亿元 ，占总成交额比16.68%；卖出总计3.20亿元 ，占总成交额比27.73%。 资料显示，广东宏大控股集团股份有限公司位于广东省广州市天河区兴民路222号之三(C3栋)天盈广场 东塔56层，成立日期1988年5月14日，上市日期2012年6月12日，公司主营业务涉及民爆器材产品(含现 场混装)、矿山基建剥离、整体爆破方案设计、爆破开采、矿物分装与运输等服务。主营业务收入构成 为：露天矿山开采58.54%，工业炸药12.43%，地下矿山开采11.82%，化工产品10.47%，起爆器材 2.68%，液化天然气2.39%，防务装备0.88%，其他0.80%。 广东 ...

资金流向方面，主力资金净流出2867.62万元，特大单买入124.20万元，占比0.38%，卖出1532.32万元， 占比4.69%；大单买入5666.42万元，占比17.34%，卖出7125.92万元，占比21.80%。 12月26日，国泰集团盘中下跌2.00%，截至11:18，报14.20元/股，成交3.27亿元，换手率3.65%，总市值 88.22亿元。 截至9月30日，国泰集团股东户数2.57万，较上期增加9.67%；人均流通股24201股，较上期减少8.82%。 2025年1月-9月，国泰集团实现营业收入16.01亿元，同比减少6.01%；归母净利润1.90亿元，同比减少 13.06%。 分红方面，国泰集团A股上市后累计派现5.49亿元。近三年，累计派现1.99亿元。 机构持仓方面，截止2025年9月30日，国泰集团十大流通股东中，广发聚丰混合A（270005）、广发沪 港深价值成长混合A（011637）、香港中央结算有限公司退出十大流通股东之列。 责任编辑：小浪快报 国泰集团今年以来股价涨10.42%，近5个交易日跌0.07%，近20日涨16.68%，近60日涨11.55%。 今年以来国泰集团已经 ...

12月24日，雅化集团盘中上涨2.01%，截至09:48，报24.91元/股，成交2.78亿元，换手率1.08%，总市值 287.10亿元。 资金流向方面，主力资金净流出471.44万元，特大单买入1839.00万元，占比6.62%，卖出2086.49万元， 占比7.51%；大单买入6660.65万元，占比23.98%，卖出6884.59万元，占比24.79%。 雅化集团今年以来股价涨113.64%，近5个交易日涨8.30%，近20日涨15.91%，近60日涨81.96%。 今年以来雅化集团已经4次登上龙虎榜，最近一次登上龙虎榜为11月17日，当日龙虎榜净买入2288.69万 元；买入总计4.03亿元 ，占总成交额比16.34%；卖出总计3.80亿元 ，占总成交额比15.41%。 资料显示，四川雅化实业集团股份有限公司位于四川省成都市高新区天府四街66号航兴国际广场1号楼 21层-23层，成立日期2001年12月25日，上市日期2010年11月9日，公司主营业务涉及锂业务和民爆业务 两大板块,其中民爆业务又分为民爆生产经营、爆破、运输三大类业务。主营业务收入构成为：锂盐产 品51.54%，民爆产品及爆破服务4 ...

北化股份今年以来股价涨65.38%，近5个交易日跌3.91%，近20日跌15.34%，近60日跌0.12%。 今年以来北化股份已经5次登上龙虎榜，最近一次登上龙虎榜为9月24日。 资料显示，北方化学工业股份有限公司位于四川省泸州市高坝，成立日期2002年8月23日，上市日期 2008年6月5日，公司主营业务涉及硝化棉、工业泵的生产和销售。主营业务收入构成为：硝化棉相关产 品37.70%，防护器材25.47%，工业泵22.91%，备件8.00%，其他产品4.22%，活性炭及催化剂0.69%，环 保器材0.60%，其他(补充)0.42%。 12月19日，北化股份盘中上涨2.01%，截至14:20，报16.72元/股，成交1.60亿元，换手率1.76%，总市值 91.80亿元。 资金流向方面，主力资金净流入9.00万元，特大单买入247.11万元，占比1.54%，卖出551.45万元，占比 3.44%；大单买入2600.93万元，占比16.21%，卖出2287.59万元，占比14.26%。 分红方面，北化股份A股上市后累计派现3.50亿元。近三年，累计派现7686.49万元。 机构持仓方面，截止2025年9月30日 ...

12月4日，广东宏大盘中下跌2.02%，截至11:09，报37.88元/股，成交1.88亿元，换手率0.74%，总市值 287.89亿元。 资金流向方面，主力资金净流出1046.24万元，特大单买入185.96万元，占比0.99%，卖出1137.46万元， 占比6.06%；大单买入4176.52万元，占比22.26%，卖出4271.27万元，占比22.76%。 广东宏大今年以来股价涨46.62%，近5个交易日跌3.61%，近20日跌4.25%，近60日涨15.69%。 广东宏大所属申万行业为：基础化工-化学制品-民爆制品。所属概念板块包括：军民融合、航天军工、 基金重仓、融资融券、并购重组等。 截至11月20日，广东宏大股东户数2.67万，较上期增加6.92%；人均流通股24731股，较上期减少 6.48%。2025年1月-9月，广东宏大实现营业收入145.52亿元，同比增长56.95%；归母净利润6.53亿元， 同比增长0.54%。 分红方面，广东宏大A股上市后累计派现22.48亿元。近三年，累计派现12.88亿元。 机构持仓方面，截止2025年9月30日，广东宏大十大流通股东中，香港中央结算有限公司位居第 ...

Core Viewpoint - Guangdong Hongda's stock price has shown significant volatility, with a year-to-date increase of 55.14% and a recent decline over the past 20 days, indicating potential market fluctuations and investor sentiment shifts [1][2]. Company Overview - Guangdong Hongda, established on May 14, 1988, and listed on June 12, 2012, is based in Guangzhou, specializing in civil explosive products and related services [1]. - The company's revenue composition includes open-pit mining (58.54%), industrial explosives (12.43%), underground mining (11.82%), chemical products (10.47%), detonators (2.68%), liquefied natural gas (2.39%), defense equipment (0.88%), and others (0.80%) [1]. Financial Performance - For the period from January to September 2025, Guangdong Hongda reported a revenue of 14.552 billion yuan, reflecting a year-on-year growth of 56.95%, while the net profit attributable to shareholders was 653 million yuan, a slight increase of 0.54% [2]. - The company has distributed a total of 2.248 billion yuan in dividends since its A-share listing, with 1.288 billion yuan distributed over the last three years [3]. Shareholder Structure - As of September 30, 2025, the number of shareholders increased to 26,700, with an average of 24,731 shares held per shareholder, a decrease of 6.48% [2]. - Notable institutional shareholders include Hong Kong Central Clearing Limited, which is the third-largest shareholder, and several funds from GF Fund Management, indicating growing institutional interest [3].

Core Viewpoint - Yahua Group's stock price has experienced significant fluctuations, with an 80.45% increase year-to-date, but a recent decline of 16.61% over the past five trading days [1] Group 1: Stock Performance - As of November 27, Yahua Group's stock price was 21.04 CNY per share, with a market capitalization of 24.25 billion CNY [1] - The stock has seen a trading volume of 5.39 billion CNY, with a turnover rate of 2.38% [1] - Year-to-date, the stock has risen by 80.45%, but has decreased by 16.61% in the last five trading days [1] - The stock has appeared on the "Dragon and Tiger List" four times this year, with the most recent net purchase of 22.89 million CNY on November 17 [1] Group 2: Company Overview - Yahua Group, established on December 25, 2001, and listed on November 9, 2010, operates primarily in lithium and civil explosives sectors [2] - The company's revenue composition includes lithium salt products (51.54%), civil explosive products and blasting services (42.81%), and transportation services (5.66%) [2] - As of November 20, the number of shareholders increased to 115,000, with an average of 9,204 circulating shares per shareholder [2] Group 3: Financial Performance - For the period from January to September 2025, Yahua Group reported a revenue of 6.05 billion CNY, reflecting a year-on-year growth of 2.07% [2] - The net profit attributable to shareholders was 334 million CNY, showing a significant year-on-year increase of 116.02% [2] - The company has distributed a total of 1.24 billion CNY in dividends since its A-share listing, with 622 million CNY in the last three years [3] Group 4: Institutional Holdings - As of September 30, 2025, the top ten circulating shareholders included Invesco Great Wall New Energy Industry Fund, holding 13.50 million shares, an increase of 286,200 shares [3] - Hong Kong Central Clearing Limited held 13.24 million shares, a decrease of 154,320 shares [3] - Other notable shareholders include Southern CSI 1000 ETF and Invesco Resource Monopoly Mixed Fund, both of which saw a reduction in their holdings [3]

Core Viewpoint - The chemical sector is currently experiencing a phase of consolidation, with the chemical ETF (516020) showing slight upward movement after initial low-level fluctuations, indicating potential investment opportunities in specific sub-sectors such as explosives, potash, and phosphorus chemicals [1] Group 1: Market Performance - The chemical ETF (516020) saw a price increase of 0.13% during the trading session, reflecting a broader trend in the chemical sector [1] - Key stocks in the sector, such as Guangdong Hongda, Yaqi International, and Salt Lake Co., have shown significant gains, with Guangdong Hongda rising over 4% [1] Group 2: Industry Insights - The chemical industry is currently at a dual bottom in terms of valuation and profitability, with expectations of demand improvement due to the Federal Reserve's potential interest rate cuts and stabilization of global political conditions [2][3] - Cost pressures are anticipated to ease, with oil and coal prices expected to remain under pressure, leading to weaker cost support for chemical products [2] - The construction of basic chemical projects is projected to decline by 12.4% year-on-year in the first half of 2025, indicating a tightening supply situation [2] Group 3: Investment Recommendations - Analysts suggest focusing on sectors that may benefit from anti-involution policies, such as pesticides, organic silicon, and polyester filament, which are expected to have significant profit elasticity [3] - The chemical ETF (516020) is highlighted as a cost-effective investment option, with its underlying index trading at a price-to-book ratio of 2.28, which is relatively low compared to historical levels [3] - The chemical sector is poised for a potential performance and valuation uplift driven by supply-side reforms and improved management practices among leading companies [3] Group 4: ETF Strategy - The chemical ETF (516020) tracks the CSI segmented chemical industry index, providing exposure to various sub-sectors, with nearly 50% of its holdings in large-cap leading stocks [4] - Investors can also consider the chemical ETF linked funds (Class A 012537/Class C 012538) for efficient exposure to the chemical sector [4]

Core Viewpoint - Yahua Group's stock price has shown significant volatility, with a year-to-date increase of 86.88% but a recent decline of 11.17% over the past five trading days [1] Group 1: Stock Performance - As of November 25, Yahua Group's stock price was 21.79 CNY per share, with a market capitalization of 25.114 billion CNY [1] - The stock experienced a trading volume of 9.47 billion CNY, with a turnover rate of 4.20% [1] - Year-to-date, the stock has been on the leaderboard four times, with the latest net purchase on November 17 amounting to 22.8869 million CNY [1] Group 2: Financial Performance - For the period from January to September 2025, Yahua Group reported a revenue of 6.047 billion CNY, reflecting a year-on-year growth of 2.07% [2] - The net profit attributable to shareholders was 334 million CNY, showing a substantial increase of 116.02% year-on-year [2] Group 3: Business Segments - Yahua Group's main business segments include lithium products (51.54% of revenue) and civil explosives (42.81% of revenue), with transportation services contributing 5.66% [2] - The company operates in the basic chemical industry, specifically in chemical products and civil explosive products [2] Group 4: Shareholder Information - As of November 20, the number of shareholders increased to 115,000, a rise of 10.58% [2] - The average number of circulating shares per shareholder decreased by 9.57% to 9,204 shares [2] - Major shareholders include Invesco Great Wall New Energy Industry Fund and Hong Kong Central Clearing Limited, with varying changes in their holdings [3]