长江商报消息 ●长江商报记者 杨蝶 氟化工龙头巨化股份（600160.SH）业绩逆势复苏。 4月24日晚间，巨化股份发布2024年年度报告，公司全年实现营业收入244.62亿元，同比增长18.43%； 归属于上市公司股东的净利润（以下简称"净利润"）19.6亿元，同比增长107.69%。 长江商报记者注意到，作为国内唯一拥有第一至四代含氟制冷剂系列产品的企业，巨化股份竞争优势明 显。2024年，化工行业规模以上企业利润总额同比下降8.6%，而同处该行业的巨化股份业绩却逆势大 幅增长。 巨化股份将业绩增长主要归因于，公司第二、三代氟制冷剂价格合理性回归上行。 业绩稳健之下，巨化股份继续稳定分红。公司宣布，2024年拟派发现金红利6.21亿元。算上此次分红， 公司自1998年上市以来，累计派现达59.73亿元。 对此，巨化股份称，主要原因系公司第二、三代氟制冷剂在生产配额制下，供需格局、竞争格局、竞争 秩序优化，下游需求改善等，产品价格合理性回归上行，涨幅较大，盈利大幅增长。 巨化股份表示，预计2025年公司氟制冷剂产品实际均价仍将上移，盈利水平及盈利比重进一步提升。 根据此前公布的2025年一季度业绩预告，公司 ...

2025 年 04 月 27 日 供需格局优化，复合肥、金属铬、 细分农药迎景气提升，重点关注低 估值高成长标的 看好 ——《化工周报 25/04/21-25/04/25》 证 券 研 究 报 告 证券分析师 行 业 及 产 业 基础化工 马昕晔 A0230511090002 maxy@swsresearch.com 宋涛 A0230516070001 songtao@swsresearch.com 研究支持 邵靖宇 A0230524080001 shaojy@swsresearch.com 任杰 A0230522070003 renjie@swsresearch.com 赵文琪 A0230523060003 zhaowq@swsresearch.com 周超 A0230123090004 zhouchao@swsresearch.com 李绍程 A0230124070001 lisc@swsresearch.com 联系人 马昕晔 (8621)23297818× maxy@swsresearch.com 本研究报告仅通过邮件提供给 中庚基金 使用。1 本期投资提示： 请务必仔细阅读正文之后的各项信息披露与声 ...

Core Viewpoint - Yonghe Co. reported a revenue of 4.61 billion yuan for 2024, a year-on-year increase of 5.4%, and a net profit attributable to shareholders of 251 million yuan, up 37% year-on-year [1] Group 1: Financial Performance - In Q4 2024, the company achieved a revenue of 1.23 billion yuan, an increase of 8% year-on-year and 2% quarter-on-quarter, with a net profit of 105 million yuan, up 385% year-on-year and 210% quarter-on-quarter [1] - For Q1 2025, the company reported a revenue of 1.14 billion yuan, a year-on-year increase of 12% but a quarter-on-quarter decrease of 7%, with a net profit of 97 million yuan, up 162% year-on-year and down 7% quarter-on-quarter [1] - The company proposed a dividend of 0.25 yuan per share (before tax) for 2024, with a payout ratio of 47% [1] Group 2: Industry Insights - In 2024, the refrigerant sector saw a recovery in market conditions, while the fluoropolymer and chemical raw materials segments faced declining profit margins [1] - The sales volume of fluorocarbon chemicals decreased by 9.2% year-on-year to 103,000 tons, but revenue increased by 3.8% to 2.45 billion yuan, with a gross margin up 13 percentage points to 20.4% [1] - The sales volume of fluoropolymers increased by 41% year-on-year to 39,000 tons, with revenue rising 17% to 1.58 billion yuan, although the gross margin fell by 8 percentage points to 15.8% due to price declines [1] - The sales volume of chemical raw materials increased by 14% year-on-year to 240,000 tons, but revenue decreased by 20% to 440 million yuan, with a gross margin down 16 percentage points to -9.3% due to significant price drops [1] Group 3: Future Outlook - In Q1 2025, the sales volume of fluorocarbon chemicals increased by 3.6% year-on-year to 21,000 tons, with revenue up 25% to 590 million yuan, indicating continued improvement in the refrigerant market [2] - The average price of refrigerants increased by 21% year-on-year and 10% quarter-on-quarter to 28,000 yuan per ton [2] - The company expects to enhance its competitiveness in the fluorochemical industry with the successful commissioning of new projects, including 4,000 tons/year of perfluorohexanone and 8,000 tons/year of VDF [2] Group 4: Profit Forecast and Valuation - The company has adjusted its profit forecasts for 2025-2027, expecting net profits of 450 million, 560 million, and 640 million yuan respectively, reflecting an upward adjustment of 12% and 8% for 2025 and 2026 [3] - The target price for the company is set at 23.04 yuan, up from a previous value of 19.08 yuan, based on a 24x PE ratio for 2025 [3]

Core Viewpoint - The company, Juhua Co., Ltd., reported significant growth in its 2024 annual performance, driven primarily by the strong demand and price increase of refrigerants, despite challenges in other chemical product segments [1][2]. Financial Performance - In 2024, the company achieved total revenue of 24.462 billion yuan, an increase of 18.43% year-on-year [1] - The net profit attributable to shareholders reached 1.960 billion yuan, up 107.69% year-on-year [1] - The net profit excluding non-recurring items was 1.903 billion yuan, reflecting a 131.40% increase year-on-year [1] - In Q4 2024, total revenue was 6.556 billion yuan, a year-on-year increase of 41.21% and a quarter-on-quarter increase of 12.52% [1] - The net profit attributable to shareholders in Q4 was 0.702 billion yuan, up 256.83% year-on-year and 65.81% quarter-on-quarter [1] Product Performance - The refrigerant products experienced both volume and price increases, contributing to the overall performance growth [2] - The average selling price of refrigerants was 26,800 yuan/ton, an increase of 32.69% year-on-year, with external sales volume reaching 353,000 tons, up 22.61% year-on-year [2] - Non-refrigerant chemical products faced a challenging market with declining prices, impacting profitability [2] Market Trends - The upward trend in refrigerant prices is expected to continue into 2025 due to supply constraints and improved industry dynamics [3] - The domestic market prices for key refrigerants R22, R32, R125, and R134a have increased by 9.1%, 12.8%, 7.1%, and 10.6% respectively since January 2, 2025 [3] - Export prices for R32 refrigerant have shown consistency, indicating a strengthening of the company's market position [3] Investment Outlook - The company is positioned favorably within the fluorochemical industry, benefiting from the upward cycle of refrigerant prices and cost advantages from its integrated operations [4] - The profit forecasts for 2025-2027 have been revised upwards, with expected net profits of 4.904 billion, 5.760 billion, and 6.416 billion yuan respectively, reflecting year-on-year growth rates of 150.25%, 17.46%, and 11.40% [4] - The company maintains a strong recommendation for investment based on its competitive positioning and growth potential in the refrigerant market [4]

2025年4月，浙江中欣氟材股份有限公司发布2024年年度报告。报告期内，公司实现营业收入 1,404,478,358.56元，同比增长4.54%；然而，归属于上市公司股东的净利润为-185,526,314.34元，虽同 比减亏2,652,700.64元，但仍处于亏损状态。值得关注的是，公司经营活动产生的现金流量净额 为-74,765,694.92元，较去年大幅增加62.46%，投资活动现金流入更是暴增8,075.90%。这些数据背后， 公司的财务状况究竟如何？又面临哪些风险与挑战？ 关键财务指标解读 营收增长但利润仍亏营业收入：2024年公司营业收入为1,404,478,358.56元，较上年同期的 1,343,528,068.38元增长了4.54%。从业务板块来看，基础化工业务收入473,564,401.31元，占比33.73%， 同比增长11.40%；精细化工业务收入803,611,413.51元，占比57.21%，同比增长26.24%；制冷剂业务收 入107,483,262.72元，占比7.65%，同比下降58.12%。虽然整体营收有所增长，但制冷剂业务的大幅下滑 值得关注，可能对公司未来营收增长带来 ...

金融界4月21日消息，上证指数低开高走，沪深300化工指数 (300化工，L11502)报2022.67点。 数据统计显示，沪深300化工指数近一个月下跌11.64%，近三个月下跌9.12%，年至今下跌8.64%。 从沪深300化工指数持仓的市场板块来看，上海证券交易所占比57.05%、深圳证券交易所占比42.95%。 从沪深300化工指数持仓样本的行业来看，其他化学原料占比38.28%、聚氨酯占比23.47%、钾肥占比 20.33%、氟化工占比7.30%、钛白粉占比6.23%、有机硅占比4.39%。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期 调整日前，权重因子一般固定不变。遇临时调整时，当沪深300指数调整样本时，沪深300行业指数样本 随之进行相应调整。在样本公司有特殊事件发生，导致其行业归属发生变更时，将对沪深300行业指数 样本进行相应调整。当样本退市时，将其从指数样本中剔除。样本公司发生收购、合并、分拆等情形的 处理，参照计算与维护细则处理。 据了解，为反映 ...

Core Viewpoint - The company Yonghe Co., Ltd. (605020.SH) is experiencing significant growth in its first-quarter performance for 2025, driven by the increasing demand in the refrigerant market, with projected net profits expected to rise by 144.49% to 176.74% year-on-year [1][2]. Group 1: Financial Performance - Yonghe Co., Ltd. anticipates achieving a net profit of between 91 million to 103 million yuan in the first quarter of 2025, marking a substantial increase compared to the previous year [1][2]. - The company's performance is bolstered by rising prices of its main products and strong market demand, leading to a notable increase in sales volume and profit margins [2]. Group 2: Research and Development - The company emphasizes technological innovation as a core driver of its development, with a cumulative R&D expenditure of 263 million yuan over the past five years [3]. - R&D expenses have shown a consistent increase from 16.38 million yuan in 2020 to 75.46 million yuan in 2024, reflecting the company's commitment to product innovation and technological upgrades [3]. Group 3: Capacity Expansion and Market Position - Yonghe Co., Ltd. is actively expanding its production capacity through fundraising efforts, including a recent plan to raise up to 1.736 billion yuan for new projects [4]. - The company has a complete industrial chain in the fluorochemical sector, with significant self-sufficiency in raw materials such as fluorite and anhydrous hydrofluoric acid, enhancing its competitive edge [5]. - Current production capacities include 135,000 tons of anhydrous hydrofluoric acid and 197,000 tons of methane chlorides and monochloromethane, with additional capacities under construction to further strengthen market competitiveness [5].

登录新浪财经APP 搜索【信披】查看更多考评等级 股票简称：巨化股份 股票代码：600160 公告编号：临2025－11 浙江巨化股份有限公司 2025年1-3月主要经营数据公告 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、准确性和完整性承担个别及连带责任。 浙江巨化股份有限公司（以下简称"公司"）根据《上海证券交易所上市公司自律监管指引第3号一一行 业信息披露（第十三号化工）》有关规定，将公司2025年1-3月主要经营数据披露如下： 一、主要产品的产量、销量及收入实现情况 ■ 【注】： 1、同比：指报告期与上年同期相比； 2、外销量低于产量，主要为部分产品作为内部下游产品原料所致； 3、基础化工产品中不含乙炔气、氢气、香精、冷冻油及其他非主要产品（下同）； 4、致冷剂（含全部品种）产量含混配致冷剂产量,产量大于销量主要为部分致冷剂用于公司混配致冷剂 原料所致。 二、主要产品和原材料的价格变动情况 （一）主要产品价格波动情况 单位：元/吨（不含税） ■ （二）主要原料价格波动情况 单位：元/吨（不含税） ■ 三、相关说明 1、报告期，公司克服生产经营季 ...

股票简称：巨化股份 股票代码：600160 公告编号：临 2025－11 浙江巨化股份有限公司 2025 年 1-3 月主要经营数据公告 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、准确性和完整性承担个别及连带责任。 浙江巨化股份有限公司（以下简称"公司"）根据《上海证券交易所上市公司 自律监管指引第 3 号——行业信息披露（第十三号化工）》有关规定，将公司 2025 年 1-3 月主要经营数据披露如下： 【注】： 1、同比：指报告期与上年同期相比； 2、外销量低于产量，主要为部分产品作为内部下游产品原料所致； 3、基础化工产品中不含乙炔气、氢气、香精、冷冻油及其他非主要产品（下同）； 4、致冷剂（含全部品种）产量含混配致冷剂产量,产量大于销量主要为部分致冷剂用于公司混配致冷剂原料 所致。 二、主要产品和原材料的价格变动情况 第 1 页 共 3 页 主要产品 产量 同比 外销量 同比 营业收入 同比 吨 % 吨 % 万元 % 氟化工原料 292299.91 13.04 86881.55 11.07 32583.03 26.90 致冷剂 143563.6 ...

[Table_Reportdate] 2025年03月13日 [晨会纪要 Table_NewTitle] 20250313 [证券分析师： Table_Authors] 吴骏燕 S0630517120001 wjyan@longone.com.cn 证券分析师： 王洋 S0630513040002 wangyang@longone.com.cn 证券分析师： 刘思佳 S0630516080002 liusj@longone.com.cn [table_main] 重点推荐 财经要闻 晨 会 纪 要 证券研究报告 HTTP://WWW.LONGONE.COM.CN 请务必仔细阅读正文后的所有说明和声明 [Table_Report] ➢ 1.安徽合力（600761）：首次海外合资建厂，全球化布局加速——公司简评报告 ➢ 2.制冷剂价格稳步上行，未来空间广阔——氟化工行业月报 ➢ 1.国常会：讨论通过《国务院2025年重点工作分工方案》 ➢ 2.美国对所有进口钢铁和铝征收25%关税正式生效 ➢ 3.美国2月CPI及核心CPI低于预期 | 1. 重点推荐 | 3 | | --- | --- | | 1.1. 安徽合力 ...