Group 1 - The company Yun Tianhua (SH 600096) announced a temporary board meeting held on August 18, 2025, to review proposals including the increase of daily related transactions for 2025 [1] - For the first half of 2025, Yun Tianhua's revenue composition is as follows: fertilizers account for 50.88%, trade for 32.25%, phosphate chemicals for 5.73%, others for 3.41%, and engineering materials for 2.81% [1] - As of the report date, Yun Tianhua's market capitalization is 46.7 billion yuan [1]

今日（8月19日）晚间，亚钾国际（SZ000893，股价30.76元，市值284.2亿元）公告，公司今日获悉银 川市人民检察院依法以涉嫌挪用公款罪、滥用职权罪对董事长郭柏春作出逮捕决定。 天娱数科（SZ002354，股价7.91元，市值130.9亿元）也同步发布了公告。郭柏春现任天娱数科董事。 上述两家公司均称，郭柏春被逮捕事项与公司无关，公司生产经营正常。 《每日经济新闻》记者了解到，郭柏春现年60岁。一个月前，亚钾国际披露了郭柏春被刑事拘留的消 息。据亚钾国际2024年年报，除在亚钾国际、天娱数科任职外，郭柏春还现任北京天象星云私募基金管 理有限公司董事长。 从股价表现上看，截至8月19日收盘，亚钾国际年内股价累计涨幅达52.58%。 7月26日亚钾国际公告，公司第一大股东由中国农业生产资料集团有限公司（以下简称中农集团）变更 为汇能控股集团有限公司（以下简称汇能集团）。 业绩表现方面，今年上半年，亚钾国际预计实现归母净利润7.3亿元至9.3亿元，同比增长170%至 244%。这主要得益于公司钾肥产销量同比提升，同时国际和国内钾肥价格上涨。 郭柏春被逮捕，案件进一步办理中 《每日经济新闻》记者获悉，亚钾国 ...

作为我国全省最大的硫酸铵集散基地，秀屿港区通过"水水中转"的方式，将货物出口至南非、巴西、东 南亚等国家和地区。近年来，莆田出入境边防检查站不断完善出入境船舶与作业人员无感化通关服务体 系，建设智能化海港梯口系统，提高通关效率。目前，船舶从报备、靠泊到离港，全程所需时间平均缩 短1小时。(记者林剑波) 近日，满载约5.455万吨硫酸铵的"库罗斯领袖"轮在莆田秀屿港口1号泊位鸣笛启航，标志着单个货主单 船出口量创历史纪录。 据了解，硫酸铵是一种优良氮肥，被誉为"肥田粉"，适用于多种土壤和作物，可以促进植物生长、提高 果实品质和产量、增强作物对抗灾害的能力。硫酸铵因其质量高、价格低、环保性能佳，被广泛应用于 农业生产领域。 ...

今日（8月19日）晚间，亚钾国际（SZ000893，股价30.76元，市值284.2亿元）公告，公司今日获悉银 川市人民检察院依法以涉嫌挪用公款罪、滥用职权罪对董事长郭柏春作出逮捕决定。 天娱数科（SZ002354，股价7.91元，市值130.9亿元）也同步发布了公告。郭柏春现任天娱数科董事。 上述两家公司均称，郭柏春被逮捕事项与公司无关，公司生产经营正常。 《每日经济新闻》记者了解到，郭柏春现年60岁。一个月前，亚钾国际披露了郭柏春被刑事拘留的消 息。据亚钾国际2024年年报，除在亚钾国际、天娱数科任职外，郭柏春还现任北京天象星云私募基金管 理有限公司董事长。 7月26日亚钾国际公告，公司第一大股东由中国农业生产资料集团有限公司（以下简称中农集团）变更 为汇能控股集团有限公司（以下简称汇能集团）。 每经记者｜陈鹏丽 每经编辑｜张海妮 2024年3月，中央纪委国家监委网站消息显示，在中央反腐败协调小组国际追逃追赃工作办公室统筹协 调和有关部门协助下，经宁夏回族自治区监察机关、公安机关与有关国家执法机关密切合作，职务犯罪 嫌疑人郭柏春在境外落网并被遣返回国。随后，亚钾国际公告，郭柏春在其任职宁夏回族自治区银川市 ...

亚钾国际（000893.SZ）公告，公司此前于2025年1月18日、2025年7月19日分别披露了《关于公司董事长被留置的公告》、《关于公司董事长 被留置的进展公告》。公司于今日获悉银川市人民检察院依法以涉嫌挪用公款罪、滥用职权罪对董事长郭柏春作出逮捕决定。上述事项系针对董 事长郭柏春个人，与公司无关联。目前公司生产经营一切正常。截至本公告披露日，公司控制权未发生变化，公司董事会运作正常，日常经营管 理由管理团队负责，公司及下属子公司生产经营建设等工作稳步推进。 ...

Core Viewpoint - The article discusses the potential for China's urea exports to India, driven by rising international urea prices and India's increasing import demand due to insufficient domestic production [6][12]. Group 1: Export Quantity Growth - Urea export quantity surged to 570,000 tons in July 2025, marking a significant increase and reaching a recent monthly high [7]. - Despite the growth in export numbers, China's direct urea exports to India remain restricted, limiting the overall impact on export demand [7]. Group 2: India's Rigid Urea Demand - Recent bidding prices in India have escalated from approximately $350 per ton at the end of 2024 to nearly $530 per ton, indicating a potential profit margin exceeding 100% for Chinese urea exports [8]. - India's urea production has declined from 2.497 million tons in March 2025 to around 2.2 million tons in April-May 2025, while import demand is expected to rise by 2-3 million tons throughout the year [12]. Group 3: Cost Support for Urea Production - The production profit for gas-based urea has turned negative, while coal-based urea production remains profitable [18]. - The potential for easing export restrictions could provide support for gas-based urea prices, given the current high export profits [18].

Group 1: Report Industry Investment Rating - Not provided in the given content Group 2: Core Viewpoints of the Report - Last week's view was that demand weakened and urea ex - factory quotes mainly declined. This week, due to the new Indian tender, urea prices stopped falling and rebounded. Some device overhauls led to the daily output dropping to around 190,000 tons, still at the highest level in the same period. The new Indian tender of 2 million tons with a September 2nd bid - closing date and an end - of - October shipping date, along with relaxed export policies, boosted the domestic market sentiment. However, overall demand was declining, with high inventories and cautious traders. In the short term, domestic demand was limited, but the Indian tender and low domestic prices were expected to support the market and lead to a short - term bottoming [4]. - Trading strategies include going long on the single - side when prices are low, observing for arbitrage, and selling put options in the over - the - counter market [4]. Group 3: Summary by Relevant Catalogs 1. Overview - Market sentiment was stable, with ex - factory quotes in some areas stabilizing or adjusting. Shandong's quotes rebounded, Henan's remained stable, and prices in the delivery area and its surrounding areas were expected to decline. The overall supply was abundant, and demand was weak, but the Indian tender had a positive impact on market sentiment [4]. 2. Core Data Changes - **Supply**: In the 32nd week of 2025 (20250807 - 0813), the capacity utilization rate of coal - based urea in China was 85.51%, up 1.85% month - on - month; that of gas - based urea was 75.77%, down 0.76% month - on - month. In Shandong, the capacity utilization rate was 78.10%, down 1.12% month - on - month [5]. - **Demand**: In the 33rd week of 2025 (20250808 - 0814), the average weekly capacity utilization rate of melamine in China was 49.82%, down 11.28 percentage points from the previous week. In the 32nd week of 2025 (20250801 - 0807), the capacity utilization rate of compound fertilizers was 41.5%, up 2.82 percentage points month - on - month. The capacity utilization rate for compound fertilizer's urea demand was 43.48%, up 1.98 percentage points month - on - month. As of August 13, 2025, the pre - order days of Chinese urea enterprises were 6.29 days, down 0.24 days from the previous period [5]. - **Inventory**: On August 13, 2025, the total inventory of Chinese urea enterprises was 957,400 tons, an increase of 69,800 tons from the previous week. The port sample inventory was 464,000 tons, a decrease of 19,000 tons month - on - month, with a decline rate of 3.93% [5]. - **Valuation**: The prices of Jincheng anthracite lump coal and Yulin pulverized coal rebounded, while the urea spot price declined. The profit of fixed - bed production was 110 yuan/ton, that of coal - water slurry production was 210 yuan/ton, and that of entrained - flow bed production was 360 yuan/ton. The futures fluctuated, with a basis of - 80 yuan/ton and a 9 - 1 spread of - 17 yuan/ton [5].

大宗商品研究 能源化工研发报告 尿素日报 2025 年 8 月 19 日 尿素日报 【市场回顾】 1、期货市场：尿素期货午后增仓大涨，最终报收 1817（+62/+3.53%）。 2、现货市场：出厂价弱稳，成交一般，河南出厂报 1660-1680 元/吨，山东小颗粒 出厂报 1680-1690 元/吨，河北小颗粒出厂 1700-1710 元/吨，山西中小颗粒出厂报 1630-1640 元/吨，安徽小颗粒出厂报 1700-1710 元/吨，内蒙出厂报 1540-1620 元/吨。 【重要资讯】 【尿素】8 月 19 日，尿素行业日产 19.84 万吨，较上一工作日增加 0.2 万吨；较去 年同期增加 3.01 万吨；今日开工 85.70%，较去年同期 76.31%提升 9.39%。 【逻辑分析】 今日，市场情绪表现一般，主流地区尿素现货出厂报价平稳，成交转弱。山东地区 主流出厂报价窄幅反弹，市场情绪表现一般，工业复合肥开工率略有提升，原料库存充 裕，成品库存偏高，基层订单稀少，刚需补货为主，农业刚需采购，贸易商出货，新单 成交乏力，待发消耗，预计出厂报价暂稳为主；河南地区市场情绪偏低，出厂报价暂稳， 贸易商观望 ...

Report Overview - The report focuses on the urea market, analyzing the reasons for the rapid increase in urea futures prices and providing trading suggestions [3] Key Points Market Performance - As of the mid - session on August 19, 2025, the main urea futures rose rapidly, with a gain of more than 3% [3] Influencing Factors - According to the latest market news, China is preparing to supply fertilizers, rare - earth materials, and tunnel excavators to India [3] - A new round of Indian tenders requires 1 million tons each for the east and west coasts, and the time is tight, approaching China's export window period on October 15. China exported 570,000 tons of urea in July, with a cumulative export of 640,000 tons from January to July. The second - batch export quota is 1.5 million tons. It is expected that the export volume will be high from July to August, and the concentrated export will occur from August to September [3] Operational Suggestions - In the short term, the domestic supply - demand fundamentals provide limited support. The new round of Indian tenders guides the sentiment of the spot market. The spot trading in the mainstream areas improved yesterday. The short - term price rebounds from the bottom. For unilateral trading, be cautious about chasing up. Hold the previous long positions, and for those not yet entered the market, wait for the price to pull back and then layout long positions for distant contracts [3]

证券日报网讯芭田股份（002170）8月19日发布公告，在公司回答调研者提问时表示，新建的90万吨/年 产能初步估算投资约1.5亿元。 ...