es IS 加轻层 配套红旗品 品牌、营销 豪华旗舰4 l、江郊、江夏、山武城、官利、广东、南 旺夏中国驻朝霞官第一 E-H2 種升次製合球品牌副總介，斯蘭在威茲 有圖船加敏分布于包括香蕉，有取了老羅 玲珑轮胎 ular su 展览图片 整官 在新能源汽车产业爆发与消费理性化趋势的双重驱动下，国产轮胎品牌正通过线上化转型实现销量与品牌认知的双重突破。6月9日，记者从"新国货溯 源-走进玲珑轮胎工厂"活动上获悉，今年京东汽车618国货轮胎销售集体爆发，前一周成交额同比增长430%。作为京东养车"新国货计划"的代表性品牌，玲 珑轮胎更以8倍的强劲增长成为黑马。 凭借京东超6亿优质用户，线下超2200家京东养车门店和4万多家合作门店，以及京东秒送等多维生态赋能，同时基于汽车服务的丰富实践经验和垂直场 景，京东养车构建起线上线下一体化的完整服务生态，在赋能玲珑轮胎等品牌取得稳健增长的同时，也为广大用户提供了更加高效便捷的用车养车体验。 而京东平台所拥有的海量精准用户和数据，则是赋能国货高端系列突破的关键优势之一。京东庞大的PLUS会员群体及在平台上注册的海量司机和车主 信息，为国货品牌提供了精准营销基础。玲珑轮胎副总 ...

[Table_Reportdate] 2025年06月10日 [table_invest] 标配 [证券分析师 Table_Authors] 吴骏燕 S0630517120001 wjyan@longone.com.cn 证券分析师 谢建斌 S0630522020001 xjb@longone.com.cn 证券分析师 张晶磊 S0630524090001 zjlei@longone.com.cn 联系人 花雨欣 hyx@longone.com.cn [table_stockTrend] -26% -17% -7% 2% 11% 20% 29% 24-06 24-09 24-12 25-03 申万行业指数:基础化工(0722) 沪深300 [相关研究 table_product] 1.碳纤维行业整合加速，关注具有规 模和技术优势的龙头企业 ——化工 新材料行业简评 2.供给端扰动背景下，关注相关化工 板块配置机会——基础化工行业周 报（2025/05/26-2025/06/01） 3.日本三井化学退出三氟化氮业务， 我国电子特气竞争力有望加强—— 化工新材料行业简评 [Table_NewTitle 印度钾肥大 ...

[Table_Reportdate] 2025年06月10日 [table_invest] 标配 [证券分析师 Table_Authors] 吴骏燕 S0630517120001 wjyan@longone.com.cn 证券分析师 谢建斌 S0630522020001 xjb@longone.com.cn 证券分析师 张晶磊 S0630524090001 zjlei@longone.com.cn 联系人 花雨欣 hyx@longone.com.cn [table_stockTrend] -26% -17% -7% 2% 11% 20% 29% 24-06 24-09 24-12 25-03 申万行业指数:基础化工(0722) 沪深300 [相关研究 table_product] 1.碳纤维行业整合加速，关注具有规 模和技术优势的龙头企业 ——化工 新材料行业简评 2.供给端扰动背景下，关注相关化工 板块配置机会——基础化工行业周 报（2025/05/26-2025/06/01） 3.日本三井化学退出三氟化氮业务， 我国电子特气竞争力有望加强—— 化工新材料行业简评 [Table_NewTitle 印度钾肥大 ...

证券研究报告：固定收益报告 发布时间：2025-06-09 研究所 分析师:梁伟超 SAC 登记编号:S1340523070001 Email:liangweichao@cnpsec.com 分析师:崔超 SAC 登记编号:S1340523120001 Email:cuichao@cnpsec.com 近期研究报告 《弱资质城投如何骑乘？——信用周 报 20240603》 - 2025.06.05 固收周报 物价边际回暖，航运指数上行 ——高频数据跟踪 20250609 核心观点 高频经济数据关注点：第一，生产稳中有降，焦炉、高炉、轮胎 开工率下降，沥青、化工回升。第二，房地产持续边际改善，30 城商 品房成交面积连续四周增长，100 城土地供应面积连续三周回升。第 三，物价边际回暖，原油、焦煤价格低位上行幅度较大，铜、铝、锌、 螺纹钢价格均上涨。第四，航运指数持续大幅上行，SCFI 周上涨 8.09%，BDI 周上涨 15.16%。短期重点关注新一轮稳增长刺激政策落 地、房地产市场恢复情况及美国关税政策变动影响。 生产：焦炉、高炉、轮胎开工率下降，沥青、化工回升 6 月 6 日当周，焦炉产能利用率下降 0. ...

齐鲁晚报·齐鲁壹点记者 蔡宇丹 国产新能源汽车掀起一浪接一浪的"内卷式"竞争之时，从电商销售数据传来一个值得关注的信号，展现了国内轮胎市场竞争格局最新动向。 京东618前一周，玲珑轮胎全系产品成交金额同比增长830%。618京东开门红当天，其品牌成交金额同比增幅达近30倍。 一个50年的老品牌为什么能成为黑马？618大促数据将国产轮胎自主品牌快速崛起的势头清晰放大给市场。国际大牌轮胎的先发优势下，国产品 牌轮胎正在为进入全球第一阵营发起一场前哨战。 6月7日，在玲珑轮胎招远总部举行的"新国货溯源-走进玲珑轮胎工厂"活动上，玲珑轮胎相关负责人表示，目前，玲珑轮胎正进入全球配套销售的 关键期，玲珑轮胎正加大科技研发投入，抓住中国新能源汽车产业崛起的窗口期，向全球轮胎品牌第一阵营挺进。 轮胎作为汽车产业链重要一环，配套数据直接反映了行业竞争格局。玲珑轮胎提供的数据显示，2024年，玲珑轮胎一共配套销售2950万条，其中 配套新能源车销售917万条，配套中国新能源车销售的轮胎数量占比17.8%。 玲珑轮胎2021年开始布局新能源专用轮胎，截至目前已为一汽红旗、比亚迪、吉利、奇瑞、上汽通用、东风日产、广汽本田、通用五菱 ...

Investment Rating - The report indicates a positive investment outlook for the chemical industry, with a focus on price increases for specific products such as 康宽 and 硝化棉 [1] Core Insights - The chemical market has shown an upward trend, with the SW Chemical Index rising by 2.61%, outperforming the CSI 300 Index by 1.73% [1] - Key price increases have been noted in various chemical products, including 康宽, which has reached 300,000 CNY/ton, and SAF, which has seen significant price jumps [1] - The report highlights the successful commercial operation of BASF's Black Mass plant in Germany, which has an annual processing capacity of 15,000 tons of waste lithium-ion batteries [1] - The report also mentions the recent price settlement for potassium fertilizer contracts in India at 349 USD/ton, which may serve as a reference for future contracts in China [1] - The AI industry is experiencing explosive growth, with significant implications for nuclear power demand, as evidenced by Meta's 20-year nuclear power purchase agreement [2][3] Summary by Sections Market Review - Brent crude oil futures averaged 65.39 USD/barrel, up 1.03 USD (1.6%) from the previous week, while WTI futures averaged 63.35 USD/barrel, up 2.16 USD (3.53%) [10] - The basic chemical sector outperformed the index, with the agricultural chemicals sector showing the highest weekly increase of 7.69% [10][11] Recent Views from the Chemical Team - The tire industry is stabilizing with a slight decrease in raw material prices, while domestic and international demand continues to recover [23] - The sweetener market, particularly for 三氯蔗糖, is expected to improve due to tightening supply despite weak demand [25] - The dye market remains stable, with no significant changes in pricing, while the carbonates market is facing downward pressure due to weak demand [31][32] Key Chemical Product Price Changes - The report provides detailed price movements for various chemical products, indicating a mixed performance across different segments [22][29] - The report notes that the titanium dioxide market is under pressure, with prices continuing to decline due to weak fundamentals [27] Industry Events - OPEC+ has agreed to increase oil production by 411,000 barrels per day for July, which may impact oil prices and the chemical sector [2] - The outcome of the U.S. Supreme Court's decision on Trump's tariff policies could have significant implications for global trade and the chemical industry [2]

汽车和汽车零部件行业周报 20250608 乘用车需求向好 智驾下沉与高端跃迁共振 2025 年 06 月 08 日 ➢ 本周数据：2025 年 5 月第 5 周（5.26-6.1）乘用车销量 46.6 万辆，同比 +18.3%，环比+16.7%；新能源乘用车销量 24.7 万辆，同比+30.1%，环比 +11.6%；新能源渗透率 53.1%，环比-2.4pct。 ➢ 本周行情：汽车板块本周表现弱于市场。本周（6 月 3 日-6 月 6 日）A 股汽 车板块下跌 0.01%，在申万子行业中排名第 25 位，表现弱于沪深 300（0.96%）。 细分板块中，摩托车及其他、汽车服务、汽车零部件分别上涨 2.66%、0.92%、 0.48%，乘用车、商用载客车、商用载货车分别下跌 0.12%、2.67%、5.93%。 ➢ 本周观点：本月建议关注核心组合【吉利汽车、比亚迪、小鹏汽车、小米集 团、伯特利、拓普集团、新泉股份、沪光股份、春风动力】。 ➢ 智驾下沉与高端跃迁共振，看好智驾加速落地。2025 年 5 月 28 日小鹏 M03 加推 Max 版（含 502km/600km 续航）及 Plus 版，上市 1 小时 ...

Core Viewpoint - The company, Tongyong Co., has shifted its ownership plans from Guangzhou State-owned Assets to Jiangsu State-owned Assets, with a transaction price of approximately 2.1 billion yuan, following a significant increase in its net profit for 2024, which reached a historical high of 374 million yuan, up over 70% year-on-year [1][7]. Group 1: Ownership Change - Tongyong Co. initially planned to transfer ownership to Guangzhou Industrial Investment Holding Group but terminated this plan three months later [1][4]. - The new ownership agreement involves Jiangsu Suhao Holding Group, which will acquire 24.50% of the shares from Tongyong's controlling shareholder, Hongdou Group, at a price of 5.44 yuan per share, totaling approximately 2.118 billion yuan [5]. - Following the transfer, Hongdou Group's shareholding will decrease from 41.35% to 16.85%, while Suhao Holding will become the new controlling shareholder [5]. Group 2: Financial Performance - In 2024, Tongyong Co. achieved a record revenue of 6.958 billion yuan and a net profit of 374 million yuan, marking year-on-year increases of 37.39% and 72.81%, respectively [7][8]. - The company's first-quarter revenue for this year was 2.122 billion yuan, reflecting a year-on-year growth of 46.99%, although net profit decreased by 32.81% due to rising raw material costs and financial expenses [8]. - The company has successfully ramped up production at its Cambodia plant, achieving full capacity within a year, contributing to its improved profitability [2][7]. Group 3: Strategic Direction - Tongyong Co. is focusing on expanding its global marketing network and optimizing its production capacity to enhance profitability, driven by increasing demand in the overseas tire market [2][8]. - The company is also advancing several overseas projects, including expansions in Thailand and Cambodia, aiming for full production capacity by 2025 [7].

以下文章来源于尺度商业 ，作者尺度商业 尺度商业 . 以价值为尺、投资有度的视角，观察和洞见商业文明、科技创新（原德林社更名） 文 | 张佳儒 一边高负债率，曾拟募资28.5亿补充流动资金，一边又连续分红，这样的公司你见过吗？ 6月5日，中策橡胶在上交所上市，公司计划募资48.50亿元，实际募资40.66亿元，成为A股市场年内 最大IPO。 按照最初的计划，中策橡胶募资额高达70亿元，远高于实际募资。中策橡胶拟募资额大幅缩水的 原 因，在于公司删除了28.5亿元补充流动资金项目。 拟28.5亿元补充流动资金背后，中策橡胶资产负债率远超同行平均水平。中策橡胶在阐述募资项目必 要性时也提到，"将进一步改善公司的资产负债结构"。 令外界疑惑的是，债务压力下的中策橡胶，分红却较为积极。2020年至2024年上半年，公司累计分 红28亿元。 拟募资额大幅缩水，拟大手笔补充流动资金，又删除项目，这背后有怎样的故事？ 轮胎巨头是"买"来的， 这一安排，成为中策橡胶在高负债率背景下仍持续分红的重要原因之一。 还背上银行贷款 6月6日收盘，中策橡胶市值411.3亿元。这家轮胎巨头，是仇建平创业后积累资金买下来的。 中策橡胶主要 ...

Core Insights - Shandong manufacturing is increasingly integrating with ASEAN's resource endowments and market potential, leading to a new paradigm of win-win cooperation [1] Group 1: Company Developments - Shandong Heyang Wood Industry Co., Ltd. is exporting environmentally friendly particle boards to markets in Vietnam and the Middle East from its industrial park in Malaysia [2] - Linglong Tire Co., Ltd. has established its first overseas production base in Thailand, leveraging the country's status as the world's largest rubber producer, with an annual production capacity exceeding 17.2 million tires [3] - Haier Smart Home is preparing to launch 10 mid-to-high-end new products in Malaysia, with its Thai manufacturing base producing a full range of air conditioning units, aiming for an annual output of over 6 million units [4] Group 2: Strategic Shifts - Shandong companies are transitioning from traditional processing trade to a more integrated approach that includes technology, standards, and ecosystem building [2][5] - The establishment of a wood industry park in Malaysia by Heyang Wood Industry has resulted in a 30% reduction in raw material procurement costs and doubled production output compared to local competitors [5] - The collaboration between Shandong and Malaysian companies aims to create a larger wood industry park, enhancing the supply chain and management capabilities [6] Group 3: Economic Cooperation - In 2024, China and ASEAN are expected to become each other's largest trading partners, with trade volume nearing 7 trillion RMB, making ASEAN Shandong's largest trade partner [7] - Shandong has comparative advantages in sectors such as machinery, automotive, organic chemicals, and shipbuilding, while ASEAN excels in agricultural products, energy, and rubber, indicating significant economic complementarity [7] - Infrastructure connectivity, such as the establishment of the Shandong-China-Europe Railway Express Southeast Asia collection center in Laos, is enhancing trade efficiency, allowing products to reach Laos within a week without transfer [7]