证券代码：688203 证券简称：海正生材 公告编号：2025-30 本公司董事会及全体董事保证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。 重要内容提示： ? 是否涉及差异化分红送转：是 ? 每股分配比例 每股现金红利0.06005元 ? 相关日期 股权登记日 除权（息）日 现金红利发放日 公司于 2025 年 5 月 8 日召开了 2024 年年度股东会，会议审议通过了《2024 年度利润分配预案》，具体分配方案如下： 公司 2024 年度拟以实施权益分派股权登记日登记的总股本扣除公司回购专用 证券账户股份数后的股本为基数分配利润，拟向全体股东每 10 股派发现金 0.60 元（含税）。截至公司 2024 年度利润分配方案披露日，公司总股本 202,678,068 股扣除公司回购专用证券账户股份 1,256,874 股后的股本基数为 201,421,194 股， 以此计算合计拟派发现金红利 12,085,271.64 元（含税）。本年度以现金为对价， 采用集中竞价方式已实施的股份回购金额 8,998,849.64 元（不含印花税、交易佣 金等交 ...

Core Viewpoint - Taiyuan City is focusing on industrial transformation and the cultivation of strategic emerging industries, enhancing innovation and establishing a green manufacturing system to drive high-quality economic development [1][31]. Group 1: Macroeconomic Analysis - Taiyuan's GDP for 2024 is projected to be CNY 541.887 billion, with a growth rate of 1.2%. The primary, secondary, and tertiary industries contribute CNY 4.785 billion, CNY 166.671 billion, and CNY 370.431 billion respectively, with the tertiary sector growing by 1.6% [2][4]. - The proportion of strategic emerging industries in Taiyuan's industrial output is increasing, with a 2024 forecast showing a 37.3% contribution to the total industrial output, up 1.4 percentage points from the previous year [4]. Group 2: Investment Trends - Fixed asset investment in Taiyuan is expected to grow by 0.5% in 2024, with 136 ongoing projects valued over CNY 1 billion, representing 35.9% of total investment [6]. - Industrial investment is projected to account for 27.7% of total investment, with a significant increase of 24.7% year-on-year [6]. Group 3: Industrial Structure - Taiyuan is constructing a modern industrial system centered around the "1233" key industrial chain system, which includes nine major industrial chains contributing approximately 70% of the city's industrial output [10][31]. - The "1233" system focuses on high-end metal materials, advanced carbon-based materials, and advanced biological materials, among others, with 118 key enterprises involved [10][31]. Group 4: Innovation and R&D - In 2023, Taiyuan's R&D expenditure reached CNY 12.79 billion, ranking first in Shanxi Province, indicating a strong focus on innovation [8]. - The city is implementing four major projects to enhance innovation capabilities, including optimizing the innovation ecosystem and promoting the transformation of innovative results [8]. Group 5: Key Industries - The high-end metal materials industry is a pillar of Taiyuan's economy, with significant products including special steel and new magnesium alloys, generating CNY 118.3 billion in revenue in 2023 [19][20]. - The carbon-based materials industry is leveraging local coal resources and advanced research capabilities, with a focus on both traditional and cutting-edge carbon materials [25][27]. - The advanced biological materials and biopharmaceutical industry is developing rapidly, focusing on bio-based new materials and recombinant human collagen protein [29]. Group 6: Policy Framework - Taiyuan has introduced several policies to support high-quality development, including plans for digital transformation and the establishment of advanced manufacturing bases [16][18]. - The city aims to achieve significant results in industrial high-quality development by 2025, enhancing its competitive advantages [16].

Core Insights - Shanghai Blue Crystal Microbial Technology Co., Ltd. has achieved significant breakthroughs in the field of polyhydroxyalkanoates (PHA) biomanufacturing, addressing global plastic pollution and carbon neutrality challenges [1][4] - The company has set a global record with a production yield of 300 grams per liter, a 100% carbon source conversion rate, and a 64% reduction in carbon footprint [1][4] Group 1: PHA Production and Characteristics - PHA is a natural biodegradable polymer synthesized by microorganisms, with a degradation efficiency 100 times that of traditional plastics [2] - The historical challenge of scaling PHA production has been addressed by Blue Crystal's innovative use of oil-based raw materials, reducing production costs to $590 per ton [2][3] - The company has achieved a production concentration of 300 grams per liter, surpassing previous industrial benchmarks [2][4] Group 2: Technological Innovations - The Biohybrid technology system developed by the research team has led to two major innovations, enhancing production efficiency and carbon source utilization [4] - The 1.0 version activated the Calvin cycle in industrial strains, increasing fermentation tank yields by 20% [4] - The 2.0 version optimized the oil utilization capacity of strains, achieving a carbon source conversion rate exceeding 100% [4] Group 3: Environmental Impact - The adoption of Biohybrid 2.0 technology has reduced the carbon footprint of PHA to 2.01 kilograms of CO2 equivalent per kilogram, marking a 64% decrease compared to traditional petrochemical plastics [4] - PHA can degrade in approximately two weeks to six months under natural conditions, significantly faster than conventional plastics [5]

点击 最 下方 " 推荐"、"赞 "及" 分享 "，"关注"材料汇 添加 小编微信 ，遇见 志同道合 的你 正文 本文来自微信公众号： 冯恺的学习笔记《材料投资的变与坑》、《材料企业的投资思路》和《材料 企业的投资思路（下） —— 平台型材料的投资思考》 材料投资的变与坑 导言 材料作为一个典型的基础行业，在发展上注定表现为"长积累"、"慢发展"，这个既是从业者的共 识，也是国内创投行业十几年来鲜有染指的原因。材料求慢、资本求快，而就是这样一类具备天生 矛盾的资产，在近 3 年来却成为众多资本的追逐对象，"材料投资"变成所有硬科技 VC 和硬科技投 资人言之必及的投资方向。 一方面看，投资方向的变化一定是基于行业客观条件的向好 ，从而使材料企业的演变更加向资本属 性靠拢（当然，全行业资本收益下降使得资本收益预期和时间敏感性下降也形成了"双向奔赴"的另 一部分原因）。 另一方面看，过于激进的转向也容易让人忽视材料固有的属性中与资本冲突的部 分。 本文就"什么变了让投资材料更有价值"和"什么没变让投资材料容易踩坑"两个角度浅做阐述。 材料为何变得更值得投资了 最大的外因来自于终端产业的转移 。 一代产业一代材料， ...

Core Insights - Chengdu East New Area is leveraging scene innovation to enhance the transformation of results, promoting deep integration of technological and industrial innovation [1][2] - The "front store, back factory" model implemented by Chengdu Anke Xing Technology Co., Ltd. in Chengdu Future Medical City signifies a new development model that reshapes the industrial ecosystem and stimulates new consumption potential [1] Group 1: Scene Innovation and Industrial Ecosystem - The unveiling of the "front store, back factory" innovation scene marks a significant step in reshaping the industrial ecosystem within the park, aiming to cultivate new productive forces and stimulate consumption [1] - The model integrates research, production, and consumer experience, allowing for direct consumer access to newly developed technological skincare products, effectively reducing the distance from laboratory to shelf [1] Group 2: Enterprise Support System - Chengdu Future Medical City has established a robust "We Hello" enterprise service system, focusing on innovation-driven and service-enabled approaches, which includes a comprehensive "1+2+3+N" service framework [2] - The service system provides a three-tier response mechanism to meet the lifecycle needs of enterprises, ensuring precise alignment between enterprise services and industrial demands [2] - Financial products like the "Future Medical Sci-Tech Loan" support startups by offering no-collateral, no-flow loans, facilitating technological innovation and industrial upgrades [2] Group 3: Future Development and Economic Growth - Chengdu Future Medical City plans to create more diverse innovation scenes and explore new pathways for technology transformation, aiming to inject new momentum into regional economic high-quality development [2]

业 及 产 业 基础化工 本研究报告仅通过邮件提供给 中庚基金 使用。1 2025 年 05 月 11 日 氯氰菊酯反倾销落地，氮肥出口或 有序放开，重点关注低估值高成长 标的 看好 ——《化工周报 25/05/06-25/05/09》 证 券 研 究 报 告 证券分析师 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明 行 行 业 ...

Core Insights - The company reported a revenue of 975 million yuan for Q1 2025, representing a year-on-year growth of 17.94%, and a net profit attributable to shareholders of 136 million yuan, with a growth of 1.8% [1] Business Analysis - The electronic materials business is operating steadily, with ongoing customer collaboration in catalytic materials. Despite the impact of the Spring Festival, the company maintained stable operations, continuing to develop new products to meet high-end market demands [2] - In the catalytic sector, the company is advancing customer collaborations, particularly in the honeycomb ceramic field, where major overseas players like Corning and NGK dominate the market. The company leverages its stable domestic supply and cost-performance advantages to develop commercial and passenger vehicle clients, gradually entering a volume growth phase [2] - The biocompatible materials segment is taking shape overseas, with the precision ceramics business continuing to expand, becoming a future growth driver. The company is expanding its product range and upgrading existing products, with overseas sales channels improving and increasing overseas sales proportion [2] - The precision ceramics sector is seen as a sunrise industry, with ceramic balls gradually gaining traction alongside the 800V fast charging applications in new energy. The company has established a full industry chain layout for ceramic substrates, which will enhance product profitability and serve as a key support for mid-term business growth [2] Market Impact - The real estate sector has negatively impacted the company's building ceramics, with a 14.3% year-on-year decline in completed real estate area in China as of March. The company is expanding overseas markets and textile dyeing businesses but faces certain constraints [3] - The new energy sector remains highly competitive, with the company's alumina and other materials experiencing pressure from industry dynamics, leading to a Q1 overall gross margin of approximately 36.77%, down about three percentage points quarter-on-quarter [3] Profit Forecast - The company has lowered its 2025 revenue forecast by 15%, projecting revenues of 4.631 billion, 5.557 billion, and 6.391 billion yuan for 2025-2027, with net profits of 699 million, 870 million, and 1.03 billion yuan respectively. The corresponding EPS is expected to be 0.70, 0.87, and 1.03 yuan, with current price-to-earnings ratios of 24, 19, and 16 times [4]

智能装备与绿色制剂是农业的"加速器"。金山通过引进先进农机装备，建成超万亩的粮食生产无人农 场，创建5家蔬菜机器换人基地，实现"智慧农业"的跨越。心意植保无人机植保作业监测、精准作业等 技术方案，大幅降低人工成本，推动农业绿色高质量发展。低碳模式正融入乡村振兴的过程中，在吕巷 镇，时科公司农业废弃物资源化基地采用生物质炭化制肥技术，将秸秆、稻壳转化为生物炭基肥；在廊 下镇，松林楼房养殖场沼气工程构建"猪-沼-菜"生态循环模式，实现农业废弃物100%资源化利用。 在生物材料方面，金山聚焦绿色转型，碳谷绿湾的"生物材料湾"正努力打造长三角具有竞争力的生物材 料研发生产基地和转型发展示范区；在"生物农业及健康食品"产业方面，推动合成生物学与传统农业深 度融合，培育了邦成生物、光明荷斯坦饲料等一批特色企业，把传统农业和健康食品结合起来，打造从 田间到餐桌的全产业链、供应链，不断提升农业的附加值。 金山是上海都市农业创新发展的标杆，也是全国首批农业科技现代化先行区之一。种子是农业的"芯 片"，金山与上海市农业科学院科研团队开展合作、持续攻关，选育出双孢蘑菇优势品种"申K6"，一举 打破国外在蘑菇育种上的技术垄断；自主研 ...

合作伙伴征集：2025全球手术机器人大会 报名：首届全球骨科大会 | 奖项评选 2025年3月22日， 昊海生科 发布了2024年年报。 # 财报数据 # 关于昊海生科 报名：首届全球眼科大会 | 名额有限 报名：首届全球心血管大会 | 奖项申报 2024年营业收入 26.98亿 元，同比增长1.64%； 归母净利润4.20亿元，同比增长1.04%；扣非归母净 利润3.79亿元，同比下滑1.12%。 2024Q4营业收入 6.23亿 元，同比下滑7.35%，环比增长9.74%； 归母净利润0.80亿元，同比下降 10.93%；扣非归母净利润0.58亿元，同比下滑26.83%。 分产品：2024年医疗美容与创面护理产品收入11.95亿元，同比增长13.08%，其中玻尿酸产品收入 7.42亿元，同比增长23.23%；眼科产品收入8.58亿元，同比下降7.60%；骨科产品收入4.57亿元，同 比下降4.11%；防粘连及止血产品1.46亿元，同比下降0.58%；其他产品收入0.38亿元，同比增长 1.56%。 2024 年公司整体毛利率为 69.89%，与上年度的 70.46%相比略有下降，其中，医美玻尿酸产品收入 ...

2024年，昊海生科 实现营业总收入 26.98亿 元 ，较上年同期的26.54亿元增长了1.64%。 这一增长主要得 益于公司在主营业务领域的持续拓展以及市场需求的稳定支撑。 合作伙伴征集：2025全球手术机器人大会 报名：首届全球眼科大会 | 暂定议程 报名：首届全球心血管大会 | 奖项报名倒计时 报名：首届全球骨科大会 | 奖项报名倒计时 近日， 昊海生科 发布了2024年度业绩快报， 公司在过去一年的经营表现整体较为平稳。 # 财务数据 在净利润方面，公司2024年 归属于母公司股东的净利润达到 4.20亿 元 ，较上年同期的4.16亿元增长了 0.97%。尽管净利润实现了正增长，但增速相对较低，显示出公司在盈利增长方面面临一定的压力。与此同 时，公司2024年归属于母公司股东的扣除非经常性损益的净利润为3.81亿元，较上年同期的3.83亿元略有下 降，降幅为0.57%。这表明公司在核心业务的盈利能力上可能受到一定挑战，非经常性损益项目对整体净利 润的影响较为显著。 从财务指标来看，公司2024年的基本每股收益为1.80元，较上年同期的1.75元增长了2.86%。加权平均净资 产收益率为7.41%，较 ...