恒瑞医药：HRS-7172片、注射用SHR-A2009临床试验获批 9月3日，恒瑞医药（600276）发布公告称，公司近日收到国家药监局核准签发关于HRS-7172片的《药 物临床试验批准通知书》。HRS-7172片是公司自主研发的新型抗肿瘤小分子抑制剂。 另外，公司子公司苏州盛迪亚生物医药近日收到国家药监局核准签发关于注射用SHR-A2009的《药物临 床试验批准通知书》。注射用SHR-A2009是一款以HER3为靶点的抗体药物偶联物，可特异性结合肿瘤 细胞表面上的HER3，进而被内吞至细胞内并转运至溶酶体中，水解释放游离毒素，杀伤肿瘤细胞。 康德莱：控股股东拟协议转让公司5%股份引入战略投资者 9月3日，康德莱（603987）发布公告称，控股股东上海康德莱控股集团有限公司与长沙械字号医疗投资 有限公司于2025年9月1日签署《股份转让协议》，拟将其持有的公司无限售流通股2183.95万股（占总 股本的5%）以每股10.81元的价格转让给长沙械字号，转让总价为2.36亿元。本次转让旨在深化战略布 局，促进协同共赢。转让完成后，康德莱控股集团持股比例将从39.58%降至34.58%，长沙械字号持股 比例将从1 ...

化学原料行业近一年市场表现 资料来源：最闻 相关报告： 加速发展，关注高频高速覆铜板材料机 遇-新材料周报（250818-0822）2025.8.27 【山证新材料】首届世界人形机器人运 动会圆满闭幕，关注人形机器人领域材 料进展-新材料周报（ 250811-0815） 2025.8.20 执业登记编码：S0760523120002 邮箱：jiyongjie@sxzq.com 王锐 执业登记编码：S0760524090001 邮箱：wangrui1@sxzq.com 研究助理： 申向阳 邮箱：shenxiangyang@sxzq.com 新材料 新材料周报（250825-0829） 领先大市-B(维持) 国务院印发"人工智能 +"行动意见，AI 新材料有望实现高速发展 【山证新材料】算力需求驱动 AI 服务器 可降解材料：PLA(FY201 注塑级)(17800 元/吨，不变)、PLA(REVODE 201 吹膜级)(17200 元/吨，不变)、PBS(17800 元/吨，不变)、PBAT(9850 元/吨，不变) 维生素：维生素 A(64000 元/吨，不变)、维生素 E(65500 元/吨，-2.96%) ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 000830 | 鲁西化工 | 14.36 | -6.21% | 50.64万 | | 7.33亿 | | 000818 | 航锦科技 | 24.83 | -5.98% | 45.87万 | | 11.57亿 | | 618009 | 亚星化学 | 8.34 | -5.23% | 28.92万 | | 2.42亿 | | 300927 | 江天化学 | 28.67 | -4.27% | 5.15万 | | 1.49亿 | | 600610 | 中致达 | 12.76 | -3.84% | 35.34万 | | 4.56 Z | | 002145 | 中核钛白 | 5.06 | -3.80% | 135.71万 | | 6.91亿 | | 301118 | 恒光股份 | 23.19 | -3.78% | 4.30万 | | 1.00亿 | | 301190 | 善水科技 | 25.19 | -3.41% | 2.73万 | | 690 ...

证券之星消息，9月1日化学原料板块较上一交易日上涨0.86%，大洋生物领涨。当日上证指数报收于 3875.53，上涨0.46%。深证成指报收于12828.95，上涨1.05%。化学原料板块个股涨跌见下表： 从资金流向上来看，当日化学原料板块主力资金净流出1.08亿元，游资资金净流入2.21亿元，散户资金净 流出1.13亿元。化学原料板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 000830 鲁西化工 | | 7693.36万 | 8.51% | 2740.84万 | 3.03% | -1.04亿 | -11.54% | | 003017 | 大洋生物 | 5691.53万 | 10.59% | -5760.58万 | -10.72% | 69.06万 | 0.13% | | 002145 | 中核钛白 | 4507.41万 | 4.34% | 302.27万 | 4 0.29% | -- ...

[Table_Main] 证券研究报告 | 公司点评 宝丰能源(600989.SH) 2025 年 08 月 29 日 买入（维持） 所属行业：基础化工/化学原料 当前价格(元)：17.35 相关研究 证券分析师 王华炳 资格编号：S0120524100001 邮箱：wanghb3＠tebon.com.cn 研究助理 郝逸璇 邮箱：haoyx＠tebon.com.cn 市场表现 -17% -9% 0% 9% 17% 26% 34% 43% 2024-08 2024-12 2025-04 2025-08 宝丰能源 沪深300 | 沪深300对比 | 1M | 2M | 3M | | --- | --- | --- | --- | | 绝对涨幅(%) | 9.12 | 6.77 | 7.63 | | 相对涨幅(%) | 0.39 | -7.89 | -9.59 | | 资料来源：德邦研究所，聚源数据 | | | | 1.《宝丰能源(600989.SH)：内蒙基地 完成产能爬坡，股份回购彰显发展信 心》，2025.5.15 2.《宝丰能源(600989.SH)：内蒙放量 &价差修复，Q1 业绩同比高增》， 2025 ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 601678 | 滨化股份 | 4.28 | -5.10% | 93.33万 | 4.01亿 | | 002109 | 六代股份 | 3.95 | -3.89% | 99.37万 | 266'E | | 000691 | *ST亚太 | 6.98 | -3.72% | - 14.03万 | 9958.60万 | | 920489 | 佳先股份 | 22.48 | -3.56% | 5.56万 | 1.26亿 | | 000818 | 航锦科技 | 25.56 | -3.07% | 42.03万 | 10.81亿 | | 600610 | 中毅达 | 13.07 | -2.46% | 39.15万 | 5.13亿 | | 301256 | 华融化学 | 10.74 | -2.19% | 6.68万 | 7243.99万 | | 601216 | 君正集团 | 5.59 | -1.93% | 159.38万 | 9.00亿 | | 301190 | 善 ...

Investment Rating - The investment rating for the company is maintained as "Buy" [6] Core Views - The company's performance in the first half of 2025 showed a significant decline, primarily due to the drop in soda ash profitability, with revenue at 9.562 billion and net profit at 73 million, reflecting year-on-year decreases of 11.1% and 77.6% respectively [1][2] - The viscose segment is expected to recover, with stable sales and price increases contributing to profit recovery, while the soda ash segment continues to face challenges [2][3] - The viscose fiber industry has not seen new capacity additions from 2021 to 2024, leading to a concentrated supply among a few key players, which is expected to support price increases in the upcoming Q3 [3] Summary by Sections Financial Performance - In the first half of 2025, the company reported a revenue of 95.62 billion, down 11.1% year-on-year, and a net profit of 0.73 billion, down 77.6% year-on-year. The second quarter saw a revenue of 47.97 billion, a decrease of 13.5% year-on-year but a slight increase of 0.7% quarter-on-quarter [1][2] - The gross margin for the first half was 12.92%, a decrease of 4.7 percentage points year-on-year, while the net margin was 0.69%, down 3.49 percentage points year-on-year [2] Product Performance - Sales volume changes for key products in the first half of 2025 were as follows: soda ash -5.6%, viscose -1.7%, caustic soda +12.7%, PVC +8.1%, and organic silicon -7.6%. Price changes were: soda ash -33.1%, viscose +3.2%, caustic soda +4.5%, PVC -13.7%, and organic silicon -11.3% [2] - The viscose segment's net profit increased to 1.07 billion, up 0.91 billion year-on-year, indicating a recovery driven by stable sales and price increases [2] Market Outlook - The viscose fiber industry is expected to see price increases in Q3 due to high operating rates and low inventory levels, with a recent average price increase of 150 yuan per ton [3] - The company's viscose production capacity is 800,000 tons, and every 100 yuan increase in price could potentially increase profits by approximately 60 million [3] Profit Forecast and Valuation - The profit forecasts for the company have been adjusted downwards due to the significant drop in soda ash prices, with projected net profits for 2025, 2026, and 2027 at 4.75 billion, 5.79 billion, and 8.07 billion respectively [4] - The current price-to-earnings ratio (PE) is projected at 26.6, 21.9, and 15.7 for the years 2025, 2026, and 2027, respectively, with a price-to-book ratio (PB) of only 0.91 [4]

德方纳米8月28日披露半年报，公司上半年实现营业收入38.82亿元，同比下降10.58%；归属于上市公司 股东的净利润亏损3.91亿元，上年同期亏损5.16亿元；基本每股收益-1.41元/股。 ...

央视网消息：8月28日，商务部公布对原产于美国、欧盟、韩国、日本和泰国的进口苯酚所适用反 倾销措施的期终复审裁定。详情如下： 2019年9月3日，商务部发布2019年第37号公告，决定自2019年9月6日起，对原产于美国、欧盟、韩国、 日本和泰国的进口苯酚征收反倾销税，反倾销税率分别为美国公司244.3%—287.2%，欧盟公司30.4%， 韩国公司12.5%—23.7%，日本公司19.3%—27.0%，泰国公司10.6%—28.6%，实施期限为5年。 2021年1月29日，商务部发布2021年第3号公告，根据该公告，2020年12月31日英国脱欧过渡期结束后， 之前已对欧盟实施的贸易救济措施继续适用于欧盟和英国，实施期限不变；该日期后对欧盟新发起的贸 易救济调查及复审案件，不再将英国作为欧盟成员国处理。 2023年4月26日，商务部发布2023年第15号公告，决定由泰国国家石油全球化学股份有限公司继承PTT 苯酚有限公司在苯酚反倾销措施中所适用的税率及其他权利义务。 2024年9月5日，应中国苯酚产业申请，商务部发布2024年第36号公告，决定自2024年9月6日起对原产于 美国、欧盟、韩国、日本和泰国的进 ...

Market Overview - On August 28, the chemical raw materials sector rose by 0.26% compared to the previous trading day, with Xinghua Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] Stock Performance - Xinghua Co., Ltd. (002109) closed at 4.11, with a significant increase of 9.89% and a trading volume of 1.2355 million shares, amounting to a transaction value of 498 million yuan [1] - Other notable performers included Jiangtian Chemical (300927) with a closing price of 29.92, up 3.35%, and Shanshui Technology (301190) at 26.44, up 3.28% [1] Fund Flow Analysis - The chemical raw materials sector experienced a net outflow of 788 million yuan from institutional investors, while retail investors saw a net inflow of 664 million yuan [2] - The overall fund flow indicates a mixed sentiment, with institutional investors withdrawing capital while retail investors increased their positions [2] Individual Stock Fund Flow - Xinghua Co., Ltd. had a net inflow of 1.10 billion yuan from institutional investors, indicating strong institutional interest despite the overall sector outflow [3] - Other stocks like Sanyou Chemical (600409) and Jinpu Titanium Industry (000545) also showed varied fund flows, with Sanyou Chemical receiving a net inflow of 26.14 million yuan from institutional investors [3]