Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported a recovery in Q2 performance, driven by the continuous growth of new materials [5][6] - In H1 2025, the company achieved total revenue of 1.87 billion yuan, a year-on-year decrease of 4.42%, while the net profit attributable to shareholders was 218 million yuan, an increase of 1.35% year-on-year [5][6] - The company is focusing on capacity expansion and industry collaboration, with significant progress in projects related to photoresists, semiconductors, and OLED materials [7][8] Financial Performance Summary - In Q2 2025, the company achieved total revenue of 1.01 billion yuan, a year-on-year decrease of 0.95% but a quarter-on-quarter increase of 17.12% [5] - The revenue breakdown shows functional materials, life sciences and pharmaceuticals, and other businesses generating revenues of 1.47 billion, 376 million, and 2.5 million yuan respectively, with year-on-year changes of -9.55%, +20.80%, and +19.20% [5] - The gross margin for the functional materials segment was 38.68%, down 1.99% year-on-year, while the life sciences segment saw a gross margin of 38.56%, up 1.36% year-on-year [6] Future Outlook - The company expects net profits attributable to shareholders for 2025, 2026, and 2027 to be 375 million, 499 million, and 514 million yuan respectively, with corresponding P/E ratios of 31, 23, and 23 times [9]

证券之星消息，宇新股份(002986)09月04日在投资者关系平台上答复投资者关心的问题。 投资者提问：董秘你好，惠州博科环保新材料有限公司3万吨/年柴油抗磨剂项目大概能给公司带来多少 利润？ 宇新股份回复：尊敬的投资者您好，公司3万吨/年柴油抗磨剂尚在建设中，项目整体达产后预计可实现 的利润具体数据需以公司后续披露公告为准。感谢您对公司的关注。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 ...

Industry Overview Upstream - International crude oil prices are fluctuating at a low level, and PTA prices are falling [2] Midstream - PX operating rate is increasing, and coal consumption of power plants is decreasing [3] Downstream - The sales of commercial housing in second - and third - tier cities are picking up, and the number of international flights is declining [4] Zhongguan Event Overview Production Industry - In the first half of 2025, BYD led in terms of revenue and net profit among listed car companies, while GAC Group's data were at the bottom and it turned from profit to loss. Many car companies saw revenue growth, with BYD and Geely hitting record highs, but only BYD maintained profit growth, and its automotive gross margin dropped by two percentage points [1] - The Ministry of Commerce ruled that US optical fiber producers and exporters circumvented anti - dumping measures on non - dispersion - shifted single - mode optical fibers from the US by changing trade patterns [1] Service Industry - The joint working group of the Ministry of Finance and the People's Bank of China held a meeting, affirming the achievements since its establishment last year and discussing topics such as financial market operation, government bond issuance management, etc. They believe that the coordinated efforts of fiscal and monetary policies provide support for the economy [1] Key Industry Price Indicators | Industry Name | Indicator Name | Frequency | Unit | Update Time | Value | YoY | | --- | --- | --- | --- | --- | --- | --- | | Agriculture | Spot price: Corn | Daily | Yuan/ton | 9/3 | 2302.9 | 0.00% | | | Spot price: Eggs | Daily | Yuan/kg | 9/3 | | | | | Spot price: Palm oil | Daily | Yuan/ton | 9/3 | 9492.0 | - 0.77% | | | Spot price: Cotton | Daily | Yuan/ton | 9/3 | 15460.2 | 0.82% | | | Average wholesale price: Pork | Daily | Yuan/kg | 9/3 | 20.0 | 0.60% | | | Spot price: Copper | Daily | Yuan/ton | 9/3 | 80360.0 | 0.97% | | | Spot price: Zinc | Daily | Yuan/ton | 9/3 | 22220.0 | - 0.20% | | Non - ferrous metals | Spot price: Aluminum | Daily | Yuan/ton | 9/3 | 20743.3 | - 0.22% | | | Spot price: Nickel | Daily | Yuan/ton | 9/3 | 123333.3 | 1.12% | | | Spot price: Aluminum | Daily | Yuan/ton | 9/3 | 16825.0 | - 0.07% | | | Spot price: Rebar | Daily | Yuan/ton | 9/3 | 3154.5 | - 2.67% | | Ferrous metals | Spot price: Iron ore | Daily | Yuan/ton | 9/3 | 782.3 | - 0.92% | | | Spot price: Wire rod | Daily | Yuan/ton | 9/3 | 3322.5 | - 1.99% | | | Spot price: Glass | Daily | Yuan/square meter | 9/3 | 13.9 | 0.00% | | Non - metals | Spot price: Natural rubber | Daily | Yuan/ton | 9/3 | 15050.0 | 0.95% | | | China Plastics City price index | Daily | - | 9/3 | 802.4 | - 0.18% | | Energy | Spot price: WTI crude oil | Daily | US dollars/barrel | 9/3 | 65.6 | 3.70% | | | Spot price: Brent crude oil | Daily | US dollars/barrel | 9/3 | 69.1 | 2.86% | | | Spot price: Liquefied natural gas | Daily | Yuan/ton | 9/3 | 3892.0 | - 1.32% | | | Coal price: Coal | Daily | Yuan/ton | 9/3 | 782.0 | - 0.13% | | Chemical industry | Spot price: PTA | Daily | Yuan/ton | 9/3 | 4749.5 | - 3.34% | | | Spot price: Polyethylene | Daily | Yuan/ton | 9/3 | 7425.0 | - 0.36% | | | Spot price: Urea | Daily | Yuan/ton | 9/3 | 1712.5 | 0.29% | | | Spot price: Soda ash | Daily | Yuan/ton | 9/3 | 1262.5 | - 2.13% | | Real estate | Cement price index: National | Daily | - | 9/3 | 129.3 | - 0.55% | | | Building materials composite index | Daily | Points | 9/3 | 113.1 | - 1.53% | | | Concrete price index: National index | Daily | Points | 9/3 | 92.9 | - 0.14% | [38]

Group 1 - The core viewpoint of the article emphasizes the proactive measures taken by the Market Regulation Administration (National Standardization Administration) to support the high-quality development of the manufacturing industry through the establishment of national standards [1][2] - In 2023, over 600 national standards have been released, significantly aiding the transformation and upgrading of the manufacturing sector towards high-end, green, and intelligent development [1][2] - Specific standards have been introduced in key areas such as high-end basic components, electric vehicles, and special processing machine tools, which enhance the industry's value and technological content [1] Group 2 - In the green transformation aspect, national standards have been published focusing on energy consumption efficiency, pollutant emissions, green product evaluation, and resource recycling, promoting the large-scale application of green technologies [2] - The implementation of the national standard for carbon dioxide recovery and disposal in metallurgical lime kilns has facilitated the research and industrial application of carbon capture technology, enabling steel companies to reduce carbon dioxide emissions by 140 kilograms per ton of steel [2] - For the intelligent transformation, standards related to artificial intelligence and industrial internet have been developed, improving the digital and intelligent development levels of the manufacturing industry [2] Group 3 - The Market Regulation Administration plans to continue advancing related work by focusing on key areas and weak links in manufacturing transformation, aiming to revise and establish over 4,000 national standards in fields such as artificial intelligence, IoT, and new materials [3] - There will be an emphasis on monitoring the implementation of standards in key sectors and industries, ensuring that the effectiveness of these standards is fully realized through collaboration with policies in industry, finance, and taxation [3]

随着上市公司财报披露季正式收官，山东省上市公司成绩单揭晓：上半年，309家A股山东企业合计营 收超14800亿元，其中258家盈利；67家港股山东企业营收超7500亿元，其中49家盈利。 据了解，山东是化工大省。2025年上半年，化工行业虽然仍受周期所困，但万华化学（600309）通过技 术革新，显著提高了生产效率和经济效益，实现营收909.01亿元，净利润61.23亿元。此外，华鲁恒升 （600426）、鲁西化工（000830）、齐翔腾达（002408）等企业上半年营收也超过百亿。 耐用消费品行业的海尔智家（600690）通过明星爆品及多品牌协同，全球市场多元化与本土化布局，取 得了亮眼成绩：实现营收1564.9亿元，同比增长10.2%；实现归属于上市公司股东的净利润120.3亿元， 同比增长15.6%。 从细分领域来看，山东省在AI算力、绿色能源与算力融合、高端新材料、生命科学数智化、低空经济 等赛道快速崛起，成为经济发展新引擎。 山东高速（600350）集团是山东省基础设施领域的国有资本投资公司，2023年以来，山东高速集团以交 通基础设施投资运营为主体，以工程建设和产融结合为支撑，积极布局新能源、智慧 ...

格隆汇9月4日丨宝泰隆(601011.SH)在投资者互动平台表示，公司全资子公司七台河宝泰隆供热有限公 司截至2025年半年度，供热收入占总营收比例15%左右；公司持续针对石墨烯的应用领域开发在石墨烯 可控制备技术，近期在高取向排列的石墨烯散热前驱体制备、石墨烯负载功能相改性的复合材料等方面 取得进展。 ...

格隆汇9月4日丨湖北宜化(000422.SZ)公布，截至公告披露日，20万吨/年烧碱搬迁节能改造项目(简 称"烧碱项目")已建成年产20万吨烧碱装置及相关配套设施，经相关主管部门审核后，于近期安全顺利 投产，烧碱产品已满负荷生产。 ...

中办、国办近日发布《关于推进绿色低碳转型加强全国碳市场建设的意见》（以下简称《意见》），要 求加强碳排放核算与报告管理，完善信息披露制度。 近年来，财政部、生态环境部、人民银行、国资委、证监会出台了多份企业可持续信披政策和指导文 件。其中，证监会指导沪深北三大交易所发布的《上市公司自律监管指引——可持续发展报告》要求部 分A股上市公司2026年强制披露ESG报告。21世纪经济报道记者根据数据梳理发现，截至9月3日，A股 上市公司中已有2523家披露了2024年ESG报告，披露率为46.49%。 多位受访者对21世纪经济报道记者表示，随着《意见》落地，企业可持续信息披露不再是单纯的合规任 务，而是影响碳市场履约、绿色融资成本和国际市场准入的关键考量与核心支撑。 也有多家企业回应21世纪经济报道记者，《意见》明确了行业覆盖的时间表和路线图，公司内部已经开 展了碳盘查、碳核算相关工作，一方面带动供应链协同减排和披露，另一方面为统一可持续标准建言献 策。 信披制度与碳数据核算要求升级 《意见》要求，完善信息披露制度。重点排放单位、注册登记机构、交易机构、技术服务机构、金融机 构等根据有关要求及时公开排放、履约、交易、 ...

Group 1 - The chemical sector continued to decline on September 4, with the Chemical ETF (516020) experiencing a drop of 1.69% [1][2] - Key stocks in the sector, such as Tongcheng New Materials, Hualu Hensheng, and Juhua Co., saw significant declines, with Tongcheng New Materials falling over 8% [1][2] - The overall market sentiment reflects a bearish trend in the chemical industry, particularly affecting rubber additives, nitrogen fertilizers, and fluorochemicals [1] Group 2 - The chemical ETF (516020) is currently at a relatively low valuation, with a price-to-book ratio of 2.2, indicating potential long-term investment opportunities [3] - Domestic policies emphasizing supply-side reforms and rising raw material costs are impacting the chemical industry, with increased uncertainty in overseas supply [4] - The Chinese chemical industry is expected to benefit from a slowdown in global capacity expansion, potentially leading to higher dividend yields and improved market conditions [5] Group 3 - The Chemical ETF (516020) tracks the CSI Sub-Industry Chemical Index, providing exposure to various segments of the chemical sector, including large-cap leaders and niche markets [6] - Investors can consider using the Chemical ETF as a more efficient way to capitalize on potential rebounds in the chemical sector [6]

聚合顺(605166.SH)现跌4.11%报12.13元，暂成交2.4亿元，最新市值38亿元。聚合顺公告，因自身资金需求，股东海南永昌新材料有限公司计划于2025年9月 25日至2025年12月24日，通过集中竞价减持不超过314.72万股、大宗交易减持不超过629.45万股，合计不超过944.17万股，减持比例不超过3%，所减股份均 来源于IPO前取得。(格隆汇) ...