Group 1 - The core point of the article is that Huajin Co., Ltd. announced the convening of its 10th meeting of the 8th Board of Directors on September 16, 2025, to discuss the appointment of a chief accountant and the authorization to act as the secretary of the board [1] - For the first half of 2025, Huajin Co., Ltd.'s revenue composition is as follows: petrochemicals accounted for 86.47%, fine chemicals 8.22%, chemical fertilizer manufacturing 4.47%, and other industries 0.84% [1] - As of the time of reporting, Huajin Co., Ltd. has a market capitalization of 8.5 billion yuan [1]

Core Insights - The 2025 "China's Top 500 Enterprises" list was released, with Hubei Lian Investment Group ranking 180th, an increase of 31 positions from the previous year, achieving revenues of 151.82 billion yuan and a net profit of 2.51 billion yuan [1][3] Group 1: Company Performance - Hubei Lian Investment Group reported revenues of 103.82 billion yuan and a total profit of 3.36 billion yuan from January to August 2025, with a year-on-year revenue growth of 24.91% [4] - The company achieved a total tax contribution of 6.52 billion yuan during the same period, with a significant increase in R&D investment amounting to 0.81 billion yuan, reflecting a 37.29% year-on-year growth [4] - The asset scale of Hubei Lian Investment Group reached 439.45 billion yuan, marking a 16.18% increase compared to the previous year [4] Group 2: Strategic Initiatives - Hubei Lian Investment Group is a pilot unit for creating world-class enterprises and has implemented a "three-step" strategy to enhance its traditional industries while transitioning into new sectors such as fine chemicals, new energy, and new materials [4] - The company has consistently ranked first among provincial state-owned enterprises in terms of party building work assessment for two consecutive years and has received an "A" grade in operational performance assessments for four years [4] - The leadership of Hubei Lian Investment Group has been recognized as "excellent" for three consecutive years, indicating strong governance and management practices [4]

9月16日，天赐材料跌5.03%，截至发稿，报29.29元/股，成交37.49亿元，换手率9.03%，总市值560.71 亿元。 泉果旭源三年持有期混合A（016709）基金经理为赵诣。 截至发稿，赵诣累计任职时间8年182天，现任基金资产总规模130.81亿元，任职期间最佳基金回报 329.41%， 任职期间最差基金回报-3%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 资料显示，广州天赐高新材料股份有限公司位于广东省广州市黄埔区云埔工业区东诚片康达路8号，成 立日期2000年6月6日，上市日期2014年1月23日，公司主营业务涉及精细化工新材料的研发、生产和销 售。主营业务收入构成为：锂离子电池材料89.66%，日化材料及特种化学品8.73%，其他1.61%。 从天赐材料十大流通股东角度 数据显示，泉果基金旗下1只基金位居天赐材料十大流通股东。泉果旭源三年持有期混合A（016709） 二季度增持107.78万股，持有股数2530.29万股，占 ...

Core Viewpoint - JinHua New Materials is set to conduct an online issuance on the Beijing Stock Exchange on September 16, with an issuance price of 18.15 yuan per share, corresponding to a price-to-earnings ratio of 11.52 times [1] Company Overview - JinHua New Materials plans to publicly issue 32.66667 million shares, resulting in a total share capital of 130.66667 million shares post-issuance [1] - The company aims to raise 593 million yuan, which will be allocated to the construction of a 60,000 tons/year high-end coupling agent project, a 500 tons/year JH-2 pilot project, and an intelligent factory for the ketoxime industry chain [1] Industry Position - JinHua New Materials is a leading enterprise in the domestic silane crosslinking agent and hydroxylamine salt niche, primarily engaged in the research, production, and sales of ketoxime series fine chemicals [1] - The main products of the company include silane crosslinking agents, hydroxylamine salts, methoxyamine hydrochloride, and acetaldehyde oxime [1]

Core Viewpoint - The company, JinHua New Materials, has initiated its IPO with a price of 18.15 yuan and a P/E ratio of 11.52 times, aiming to raise approximately 5.93 billion yuan for various projects [1][2]. Group 1: IPO Details - The initial issuance quantity is 32.67 million shares, with an online issuance of 26.13 million shares, and a total share capital post-issuance of 131 million shares [1][2]. - The company has authorized Zheshang Securities to allocate an additional 4.90 million shares to online investors, increasing the online issuance to 31.03 million shares [1][2]. - The strategic placement of shares amounts to 6.53 million shares, representing 20% of the initial issuance scale [1][2]. Group 2: Fundraising and Project Allocation - The total expected fundraising amount is 593 million yuan, which could increase to 682 million yuan if the overallotment option is fully exercised [1][2]. - The raised funds will be directed towards several projects, including: - 60kt/a high-end coupling agent project: 506.90 million yuan - Ketoxime silicon new materials research institute: 136.22 million yuan - Intelligent factory construction for the ketoxime industry chain: 63.11 million yuan - Marketing network construction: 38.61 million yuan - 500 tons/year JH-2 pilot project: 23 million yuan [2]. Group 3: Financial Performance - The company’s net profit for 2022, 2023, and 2024 is projected to be 79.59 million yuan, 173 million yuan, and 211 million yuan, respectively, with year-on-year changes of -67.34%, 116.74%, and 22.28% [2]. - Key financial indicators for 2024 include total assets of 1.32 billion yuan, net assets of 842.66 million yuan, and operating income of 1.24 billion yuan [3][4]. - The diluted earnings per share for 2024 is projected at 2.15 yuan, with a return on equity of 28.19% [4].

八月A股市场展现出的强劲势头令人印象深刻，九月伊始A股资金面一度降温，我们在前期报告 《当A 股长期估值修复遇到新一轮全球水牛》 中提出，前期A股的上涨主要源于三重因素叠加——全球流动 性水牛，长期系统性风险化解，以及重要时点的情绪催化剂。 水牛之后，一辆由基本面重估主导的A股"慢车"，正在渐行渐近。 如何搭上"慢车"？我们为投资者提 供 三个投资建议和配置方向 。 一、三个投资建议 （一）已在车上，不必急于下车 身处市场之中不必急于离场，因为无论是国内还是国外的资金，当前看都还有持续流入的潜力。 已在车上不急于下车，未上车可耐心等待，即使下跌不必担忧。配置方向上，关注滞胀中 的确定性、突破滞胀的科技、中国转型中的阿尔法。 文：国金宏观宋雪涛/联系人陈瀚学 国内资金，目前受关注的是居民存款是否会大规模"搬家"。 从存量看，A股总市值刚突破100万亿， 而居民存款高达160-170万亿，存款与市值的比率高达1.7，处于历史偏高水平。居民手中仍有大量资 金有待配置。从流量上看，尽管7月份金融数据显示居民存款有所减少，但主要是6月季末银行存款冲 量之后，存款回流理财产品，计入非银金融机构存款所致。目前为止，居民存款 ...

Core Viewpoint - Jinhua New Materials (920015.BJ) has initiated its subscription on September 16, with an issue price of 18.15 CNY per share and a maximum subscription limit of 1.5516 million shares, reflecting a price-to-earnings ratio of 11.52 times. The company specializes in the research, production, and sales of ketoxime series fine chemicals, with applications across various industries including construction materials, energy, electronics, new energy vehicles, pesticides, pharmaceuticals, metal extraction agents, ion exchange resins, and environmentally friendly dyes [1]. Company Overview - Jinhua New Materials focuses on the development of silane crosslinking agents, hydroxylamine salts, methoxyamine hydrochloride, and acetaldehyde oxime, which are essential for producing organic silicon sealants and adhesives, widely used in strategic emerging industries [1][2]. - The company has established stable partnerships with multinational corporations such as Bayer and Braskem, as well as listed companies like Wanhua Chemical and Xin'an Chemical [2]. Market Position - The domestic market share of Jinhua New Materials for silane crosslinking agents is projected to increase from 27.85% in 2022 to 38.16% in 2024. For hydroxylamine salts, the market share is expected to shift from 34.86% in 2022 to 42.37% in 2024 [2]. Financial Performance - The company reported revenues of approximately 994 million CNY, 1.115 billion CNY, and 1.239 billion CNY for the years 2022, 2023, and 2024, respectively. Net profits for the same years were approximately 79.59 million CNY, 173 million CNY, and 211 million CNY [3][4]. - Total assets are projected to grow from approximately 859.68 million CNY in 2022 to 1.322 billion CNY in 2024, with total equity increasing from approximately 477.59 million CNY to 842.66 million CNY over the same period [4]. Investment Projects - The net proceeds from the current issuance will be allocated to several projects, including a high-end coupling agent project with an investment of approximately 50.69 million CNY, a pilot project with an investment of approximately 2.3 million CNY, and an intelligent factory construction project for the ketoxime industry chain with an investment of approximately 6.31 million CNY [3]. Profitability Metrics - The gross profit margin is expected to improve from 17.72% in 2022 to 27.94% in 2024. The net profit margin is projected to increase from 8.01% in 2022 to 17.00% in 2024 [5]. - The company’s basic earnings per share are forecasted to rise from 0.8291 CNY in 2022 to 2.1525 CNY in 2024 [5].

Core Viewpoint - Jinhua New Materials (920015.BJ) has initiated its subscription with an issue price of 18.15 CNY per share and a price-to-earnings ratio of 11.52, focusing on the development, production, and sales of ketoxime series fine chemicals, with significant applications across various industries [1][2]. Group 1: Company Overview - Jinhua New Materials specializes in ketoxime series fine chemicals, including silane crosslinking agents, hydroxylamine salts, methoxyamine hydrochloride, and acetaldehyde oxime, which are used in construction materials, energy, electronics, new energy vehicles, pesticides, pharmaceuticals, metal extractants, ion exchange resins, and environmentally friendly dyes [1]. - The company's silane crosslinking agents are key raw materials for producing silicone sealants and adhesives, widely used in strategic emerging industries, particularly in new materials [1][2]. Group 2: Market Position and Growth - The domestic market share of Jinhua New Materials for silane crosslinking agents is projected to increase from 27.85% in 2022 to 38.16% in 2024, while the market share for hydroxylamine salts is expected to rise from 34.86% in 2022 to 42.37% in 2024 [2]. - The company has established stable partnerships with major multinational corporations such as Bayer and Braskem, as well as listed companies like Wanhua Chemical and Xinan Co., Ltd. [2]. Group 3: Financial Performance - Jinhua New Materials reported revenues of approximately 994 million CNY in 2022, 1.115 billion CNY in 2023, and projected 1.239 billion CNY in 2024, with net profits of 79.59 million CNY, 173 million CNY, and 211 million CNY respectively [3][4]. - The total assets of the company increased from approximately 859.68 million CNY in 2022 to about 1.322 billion CNY in 2024, with total equity rising from 477.59 million CNY to 842.66 million CNY during the same period [4]. - The gross profit margin improved from 17.72% in 2022 to 27.94% in 2024, indicating enhanced profitability [5].

公司3万吨/年四氢呋喃项目目前正处于试生产阶段，通过持续优化工艺装置，运行效率和生产负荷均实 现了稳步提升。这将有效增强四氢呋喃产品的盈利能力，并进一步提升其在市场中的竞争力。 美邦科技（832471）2025年河北辖区上市公司投资者网上集体接待日暨2025年半年报集体业绩说明会于 9月15日下午举行。有投资者关注公司3万吨生产线运营情况，财务负责人管新然作出回应。 资料显示，公司以绿色制造技术的研发、产业化及技术服务为主业，目前已实现自研技术在四氢呋喃、 甲苯氧化系列产品等领域的产业化，生产并销售相关精细化学品。同时，公司通过技术许可、关键设 备、催化剂等形式为能源化工、新材料等领域客户提供解决方案，帮助客户提高资源能源利用效率，提 升绿色发展水平。 ...

Core Insights - The company held an investor meeting on September 15, 2025, to discuss its half-year performance and new patent developments [1] Group 1: Patent Developments - The company added 3 new authorized patents in the first half of 2025, focusing on mercury-free ionic liquid catalytic synthesis for vinyl chloride production [1] - The new technology utilizes ionic liquid catalysts and a gas-liquid catalytic reaction system, addressing mercury pollution and enabling larger equipment while improving thermal efficiency [1] - The authorization and application of these new patents are expected to help the company explore new markets and meet customer demands, enhancing its competitive edge [1] Group 2: Business Operations - The company specializes in green manufacturing technology research, industrialization, and technical services, with successful commercialization in areas like tetrahydrofuran and toluene oxidation products [1] - It provides solutions to clients in energy, chemicals, and new materials sectors through technology licensing, key equipment, and catalysts, aiming to improve resource and energy utilization efficiency [1] - The focus on green development aligns with industry trends towards sustainable practices and enhances the company's market position [1]