金融界消息 截至2025年8月7日收盘，国际复材（301526）报收于5.05元，上涨2.64%，换手率11.07%， 成交量155.44万手，成交金额7.84亿元。 资金流向方面，今日主力资金净流入1852.98万元，占比成交额2.36%。其中，超大单净流入1550.95万 元、占成交额1.98%，大单净流入302.03万元、占成交额0.39%，中单净流出流入140.66万元、占成交额 0.18%，小单净流出1993.64万元、占成交额2.54%。 国际复材最新一期业绩显示，截至2025一季报，公司营业总收入18.69亿元、同比增长21.68%，归属净 利润5267.48万元，同比增长176.96%，扣非净利润4437.66万元，同比增长152.71%，流动比率0.929、速 动比率0.682、资产负债率57.33%。 天眼查商业履历信息显示，重庆国际复合材料股份有限公司，成立于1991年，位于重庆市，是一家以从 事化学原料和化学制品制造业为主的企业。企业注册资本377087.8048万人民币，实缴资本235999.993万 人民币。公司法定代表人为江凌。 通过天眼查大数据分析，重庆国际复合材料股份有限公司 ...

证券日报网讯 8月6日晚间，华阳新材发布公告称，公司于2025年8月6日召开第八届董事会2025年第六 次会议，审议通过了《关于山西华阳生物降解新材料有限责任公司申请流动资金借款并为其提供担保的 议案》。全资子公司山西华阳生物降解新材料有限责任公司拟向华夏银行申请办理2000万元流动资金借 款，期限三年，年利率预计不超过4%，公司将为其提供连带责任担保。本次担保事项尚需提交股东大 会审议。 （编辑 李家琪） ...

Report Industry Investment Rating No relevant content provided. Report's Core View - The overall supply pressure of PVC is strong, and the domestic demand recovery is sluggish. The current demand may remain weak, and it is necessary to continuously monitor macro - policies and export trends. PVC2509 is expected to fluctuate in the range of 4992 - 5110 [9][13]. - There are both positive and negative factors in the market. Positive factors include supply resumption, cost support from calcium carbide and ethylene, and export benefits. Negative factors include the rebound of overall supply pressure, high - level and slow - consuming inventory, and weak domestic and foreign demand [12]. Summary According to Related Catalogs 1. Daily View - **Base Spread**: On August 6th, the price of East China SG - 5 was 4980 yuan/ton, and the basis of the 09 contract was - 71 yuan/ton, with the spot at a discount to the futures, showing a bearish signal [10]. - **Inventory**: Factory inventory was 34534 tons, a 3.28% decrease from the previous period. Calcium carbide factory inventory was 26919 tons, a 3.12% decrease, and ethylene factory inventory was 7615 tons, a 3.85% decrease. Social inventory was 44800 tons, a 4.91% increase. The production enterprise's inventory - holding days were 5.8 days, a 3.33% decrease, presenting a bearish situation [10]. - **Market Chart**: MA20 is upward, and the futures price of the 09 contract closed below MA20, showing a neutral signal [10]. - **Main Position**: The main position is net short, and the short position is decreasing, indicating a bearish signal [10]. 2. Fundamental/Position Data - **Supply Side**: In July 2025, PVC production was 2.00461 million tons, a 0.67% increase from the previous month. This week, the sample enterprise's capacity utilization rate was 76.84%, with no change from the previous week. Calcium carbide - based enterprise production was 32458 tons, a 4.06% decrease, and ethylene - based enterprise production was 12770 tons, a 12.82% increase. Supply pressure increased this week, and next week, it is expected that maintenance will decrease and production scheduling will increase significantly [7]. - **Demand Side**: The overall downstream operating rate was 42.05%, a 0.169 - percentage - point increase from the previous period, lower than the historical average. The downstream profile operating rate was 37%, a 1 - percentage - point decrease, lower than the historical average. The downstream pipe operating rate was 32.96%, a 0.439 - percentage - point increase, lower than the historical average. The downstream film operating rate was 77%, unchanged from the previous period, higher than the historical average. The downstream paste resin operating rate was 70.82%, a 5.25 - percentage - point decrease, higher than the historical average. Shipping costs are expected to rise, and the domestic PVC export price is competitive. Current demand may remain weak [8]. - **Cost Side**: The profit of calcium carbide method was - 20.9487 yuan/ton, with the loss decreasing by 84% from the previous period, lower than the historical average. The profit of ethylene method was - 478.9958 yuan/ton, with the loss decreasing by 5% from the previous period, lower than the historical average. The double - ton price difference was 2730.05 yuan/ton, with the profit increasing by 1.4% from the previous period, higher than the historical average. Production scheduling may increase [8]. 3. PVC Market Overview - The report presents yesterday's PVC market data, including price changes of different types of PVC, inter - month spreads, inventory data, downstream operating rates, profit, cost, and other information [16]. 4. PVC Futures Market - Basis Trend The report shows the historical data of PVC basis, spot price, and main contract closing price, helping to analyze the relationship between the spot and futures markets [19]. 5. PVC Futures Market - Spread Analysis - Main Contract Spread The report shows the historical data of the main contract spreads of PVC futures, which is helpful for understanding the price differences between different contracts [25]. 6. PVC Fundamental - Calcium Carbide Method - **Lancoke**: It shows the historical data of Lancoke prices, cost - profit, operating rate, inventory, and daily production, which is helpful for analyzing the impact of Lancoke on the calcium carbide method of PVC production [28]. - **Calcium Carbide**: It shows the historical data of calcium carbide prices, cost - profit, operating rate, maintenance loss, and production, which is helpful for analyzing the impact of calcium carbide on the calcium carbide method of PVC production [31]. - **Liquid Chlorine and Raw Salt**: It shows the historical data of liquid chlorine prices, production, raw salt prices, and production, which is helpful for understanding the cost factors in the calcium carbide method of PVC production [33]. - **Caustic Soda**: It shows the historical data of caustic soda prices, cost - profit, operating rate, production, maintenance volume, apparent consumption, double - ton price difference, and inventory, which is helpful for analyzing the impact of caustic soda on the calcium carbide method of PVC production [35][38]. 7. PVC Fundamental - PVC Supply Trend It shows the historical data of calcium carbide method and ethylene method capacity utilization rates, profit, daily production, weekly maintenance volume, weekly capacity utilization rate, and weekly production of PVC, which is helpful for analyzing the supply situation of PVC [40][41]. 8. PVC Fundamental - Demand Trend - It shows the historical data of PVC daily trader sales volume, weekly pre - sales volume, production - sales ratio, apparent consumption, downstream average operating rate, and the operating rates of different downstream products (profiles, pipes, films, paste resin). It also shows the historical data of real - estate investment, construction area, new construction area, sales area, completion area, social financing scale increment, M2 increment, local government new special bonds, and infrastructure investment (excluding electricity) year - on - year, which is helpful for analyzing the demand situation of PVC [43][45][47]. - For paste resin, it shows the historical data of profit, monthly production, cost, and apparent consumption [50][53]. 9. PVC Fundamental - Inventory It shows the historical data of exchange warehouse receipts, calcium carbide factory inventory, ethylene factory inventory, social inventory, and production enterprise inventory days, which is helpful for analyzing the inventory situation of PVC [60]. 10. PVC Fundamental - Ethylene Method It shows the historical data of vinyl chloride imports, dichloroethane imports, PVC exports, ethylene method FOB price difference (Tianjin - Taiwan), and vinyl chloride import price difference (Jiangsu - Far East CIF), which is helpful for analyzing the ethylene - based PVC market [62]. 11. PVC Fundamental - Supply - Demand Balance Sheet It shows the monthly supply - demand data of PVC from June 2024 to July 2025, including exports, demand, social inventory, factory inventory, production, and imports, and presents the monthly supply - demand trend chart of PVC [65].

Investment Rating - The report indicates a negative outlook for the chemical industry in Europe, with major chemical companies withdrawing production capacity due to strict environmental regulations and high energy costs [1][33]. Core Insights - The European Union is the second-largest chemical production region globally, but the ongoing Russia-Ukraine conflict has exacerbated energy price increases, impacting the competitiveness of the European chemical industry [2][34]. - The EU is actively pursuing carbon neutrality, with significant regulatory changes and initiatives aimed at reducing carbon emissions [2][51]. - Leftist political parties in Europe are pushing for stricter regulations on the chemical industry, which has led to increased operational challenges for chemical manufacturers [2][66]. - Major chemical companies are exiting the European market, citing high energy costs and regulatory burdens as primary reasons for their decisions [2][74]. Summary by Sections Industry Overview - The chemical industry is the highest value-added and investment-intensive sector in EU manufacturing, employing approximately 3.4 million people [3][4]. - In 2020, the chemical sector contributed significantly to the EU's manufacturing employment, second only to the food products industry [3]. Market Dynamics - The EU chemical industry accounted for 13% of global chemical sales in 2023, a decline from 16% in 2013, with sales dropping to approximately €655 billion, a 12.4% decrease year-on-year [15][19]. - The production capacity utilization in the EU remains low, fluctuating around 75%, compared to a historical average of 81% [44]. Financial Performance - Capital expenditures in the EU chemical sector reached €32.1 billion in 2023, marking a 53% increase compared to pre-pandemic levels, but growth rates lag behind those in China and the US [25]. - R&D spending in the EU chemical sector has also seen a decline in global share, with a 25% increase from €8 billion to €10 billion, while China's R&D spending doubled in the same period [30]. Regulatory Environment - The EU's carbon emissions trading system has generated significant revenue, reaching nearly €29.1 billion from 2013 to 2023, reflecting the EU's commitment to carbon neutrality [51]. - The upcoming Carbon Border Adjustment Mechanism (CBAM) will impose carbon costs on certain imported goods, including organic chemicals, starting in 2026 [56]. Company Actions - Major chemical companies, including Dow, Shell, and BASF, are restructuring their European operations, closing or selling high-cost production facilities due to unfavorable market conditions [75][76].

证券代码：688737 证券简称：中自科技 公告编号：2025-044 中自科技股份有限公司 关于变更部分募投项目资金用途 并将节余募集资金永久补充流动资金的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 中自科技股份有限公司（以下简称"公司"或"中自科技"）于 2025 年 8 月 6 日召开第四届董事会第六次临时会议、第四届监事会第六次临时会议，审 议通过了《关于变更部分募投项目资金用途并将节余募集资金永久补充流动资 金的议案》。同意变更部分募投项目资金用途并将节余募集资金 28,539.35 万元 （含已到期利息收入、现金理财收益，实际金额以资金转出当日专户余额为准） 用于永久补充公司流动资金。保荐机构申万宏源承销保荐有限责任公司（以下 简称"保荐机构"）对本事项出具了无异议的核查意见。该事项尚需提交公司 股东会审议。现将相关情况公告如下： 一、募集资金基本情况 根据中国证券监督管理委员会（以下简称"中国证监会"）于 2021 年 8 月 复》（证监许可〔2021〕2761 号），公司首次公开发行人民币普通股（ ...

证券日报网讯 8月6日晚间，上纬新材发布公告称，公司2025年第一次临时股东会于2025年8月6日召 开，审议通过了《关于取消监事会并修订及部分公司治理制度的议案》等多项议案。 （文章来源：证券日报） ...

Core Viewpoint - The significant surge in the stock price of Upwind New Materials (688585.SH) is primarily driven by market speculation and the anticipation of a major acquisition, despite the company's underlying fundamentals showing a decline in profitability [2][5][11]. Group 1: Stock Performance - From July 9 to August 5, Upwind New Materials' stock price skyrocketed from 7.78 CNY to 110.48 CNY, marking a cumulative increase of 1320.05%, making it the first "15-fold stock" of the year [2][11]. - The company's total market capitalization rose from 3.2 billion CNY to 44.6 billion CNY during the same period, an increase of 14 times [2]. - On August 6, the stock experienced a 20% drop, closing at 88.38 CNY, resulting in a market value loss of approximately 8.914 billion CNY [11]. Group 2: Shareholding Structure - As of August 5, 2025, the controlling shareholders, including SWANCOR IND.CO.,LTD. and other major stakeholders, hold approximately 85% of the company's A-shares, leaving only about 15% for external circulation [3][5]. Group 3: Acquisition and Market Speculation - The stock price surge is linked to an ongoing acquisition where Zhiyuan Robotics intends to acquire at least 63.62% of Upwind New Materials, which is expected to transform the company into a platform for humanoid robots [5][6]. - Zhiyuan Robotics is recognized for its rapid advancements in humanoid robot production and aims to inject its assets into Upwind New Materials, further fueling market speculation [5][6]. Group 4: Financial Performance - For the first half of 2025, Upwind New Materials reported a revenue of 784 million CNY, a year-on-year increase of 12.5%, but a net profit of 29.90 million CNY, down 32.91% from the previous year [11]. - The decline in net profit is attributed to increased costs related to foreign currency receivables and sales expenses [11].

（文章来源：证券日报） 证券日报网讯博源化工8月6日在互动平台回答投资者提问时表示，阿拉善天然碱项目二期工程计划年底 建成投料试车，目前正按照计划有序推进，有关情况请关注公司在指定信息披露平台发布的公告。 ...

Core Viewpoint - Tongyi Co., Ltd. emphasizes the superior characteristics of its composite material boards and rods compared to traditional materials, highlighting their wide applicability across various industries [2]. Product Characteristics - The composite material boards and rods possess excellent properties such as wear resistance, vibration resistance, corrosion resistance, and anti-static capabilities [2]. - These materials can be widely applied in sectors including drones, new energy vehicles, semiconductors, military equipment, smart automation devices, photovoltaics, high-speed rail, medical devices, and bridge infrastructure [2]. Market Application - The company's products have already been utilized in the low-altitude economy supply chain, particularly in the drone industry, although their sales proportion remains relatively small [2].

Core Viewpoint - The company announced a planned routine maintenance shutdown for its wholly-owned subsidiary, Shaanxi Yanchang Petroleum Xinghua Chemical Co., Ltd., scheduled for June 29, 2025, lasting approximately 34 days [1] Group 1: Maintenance Details - During the maintenance period, the company will replace catalysts in the methylamine and ethanol units, as well as the filter elements in the methanol unit [1] - The sulfur recovery unit will undergo upgrades, and maintenance will be performed on large operational equipment, including cleaning and leak detection [1] - The maintenance aims to ensure the safe and stable operation of production systems, laying a solid foundation for future operations characterized by safety, stability, longevity, fullness, and quality [1] Group 2: Production Resumption - As of the announcement date, the company has completed all maintenance plans and will fully resume production operations on August 6, 2025 [1]