添加文末微信，加 燃料电池 群 Lingniu News "宁波膜智信息科技有限公司"为势银（TrendBank）唯一工商注册实体及收款账户 势银研究： 势银产业研究服务 重要会议： 2025势银绿氢产业大会（7月16-17日，江苏·无锡） 点此报名 5月13日，羚牛新能源科技（上海）有限公司（简称"羚牛氢能"）与现代汽车氢燃料电池系 统（广州）有限公司（简称" HTWO广州 "）正式签署战略合作协议。双方将围绕氢能商用 车的推广与应用展开深度合作，共同推动中国交通领域的绿色低碳转型，助力国家"双碳"目 标实现。 势银数据： 势银数据产品服务 势银咨询： 势银咨询顾问服务 自2024年合作启动以来，双方已实现氢能商用车的多场景突破：首批40辆HTWO广州4.5T氢 燃料电池厢式运输车成功交付并投入运营，第二批190辆4.5T氢燃料电池冷藏车创下国内大规 模交付记录，验证了氢能技术在城市配送与冷链运输场景的经济性与可靠性。 HTWO广州90kW氢燃料电池系统为车型提供强劲动力支撑，4.5T厢式运输车实现单次加氢300 公里续航，百公里氢耗仅1.64公斤，单公里成本低至0.58元，较传统柴油车节约40%；而4.5 ...

编号：2025-01 证券代码：002377 证券简称：国创高新 | | □特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活 | □媒体采访 √业绩说明会 | | 动类别 | □新闻发布会 □路演活动 | | | □现场参观 □电话会议 | | | □其他： （请文字说明其他活动内容） | | 参与单位名称 | 国创高新2024年度网上业绩说明会采用网络远程方式进行，面向全体投资者 | | 及人员姓名 | | | 时间 | 2025 年 5 月 15 日 15:00-16:30 | | 地点 | 深圳证券交易所"互动易平台"http://irm.cninfo.com.cn"云访谈"栏目 | | 公司接待人员 | 总经理：吕华生 董秘、财务总监：严先发 独立董事：邱建萍 | | 姓名 | | | | 1.贵公司转让股权至科元控股集团且剥离深圳云房房地产中介服务业务后是否考 | | | 虑引入新的主业以增加公司市场竞争力 | | | 答：您好，目前公司主营业务仍为道路沥青材料系列产品的研发、生产、销售， | | | 暂无主营业务之外的其他业务。感谢您的关注！ | | | 2.您好，各位 ...

市场消息：美国环保局将2026年起生物燃料混合量的拟议规定提交白宫审查。 ...

光大期货能化商品日报 光大期货能化商品日报（2025 年 5 月 15 日） 一、研究观点 | 品种 | 点评 | 观点 | | --- | --- | --- | | | 周三油价重心小幅回落，其中 WTI 6 月合约收盘下跌 0.52 美元至 | | | | 63.15 美元/桶，跌幅 0.82%。布伦特 7 月合约收盘下跌 0.54 美元 | | | | 至 66.09 美元/桶，跌幅 0.81%。SC2506 以 484.6 元/桶收盘，下跌 | | | | 2.9 元/桶，跌幅 0.59%。EIA 数据显示，随着美国进口更多石油， | | | | 美国上周原油库存上升，而汽油和馏分油库存在夏季驾车季节到 | | | | 来之前下降。在截至 5 月 9 日的一周内，美国原油库存增加了 350 | | | | 万桶至 4.418 亿桶，此前市场预期为减少 110 万桶。上周美国原 | | | | 油净进口增 42.2 万桶/日。最大生产国兼 OPEC+协议的领导者沙 | | | 原油 | 特，4 月产量较 3 月增加 4.9 万桶/日，至 900 万桶/日。在 OPEC | 震荡 | | | 其他产油国 ...

Darling Ingredients (DAR) FY Conference May 14, 2025 11:00 AM ET Speaker0 All right. Darling has positioned itself as a global leader across rendering biofuels and food ingredients as strategic acquisitions, capacity expansions and its Diamond Green Diesel joint venture have transformed its business model over time. CEO Randy Stuewe has led Darling through that business transformation and the business could be poised to demonstrate its improved earnings potential moving forward given evolving biofuels polic ...

Archer Daniels Midland Company (ADM) 2025 Conference Summary Company Overview - **Company**: Archer Daniels Midland Company (ADM) - **Date**: May 14, 2025 - **Key Speakers**: Manish Padalawala (CFO), Chris Cuddy (President of Carb Solutions and North America) Core Industry Insights - **Commodity Cycle Management**: ADM is focused on managing through the commodity cycle, simplifying its business, and pursuing strategic growth opportunities to enhance earnings potential over time [1][2] - **Cost Optimization**: The company aims to achieve cost efficiencies of $500 million to $750 million over the next three to five years, with $200 million to $300 million targeted for the current year [10][34] - **Growth Opportunities**: ADM sees significant growth potential in biosolutions, carbon capture, and emerging markets, alongside its nutrition business [11][30] Financial Performance and Projections - **Earnings Guidance**: ADM reaffirmed its earnings guidance at $4.00 to $4.75 per share, with expectations for improved crush margins in the second half of the year [21][22] - **Operational Challenges**: The company has faced operational challenges, including unplanned downtimes, but is working to improve efficiency and reliability in its plants [35][39] Regulatory and Market Factors - **RVO Impact**: ADM has lobbied for Renewable Volume Obligations (RVOs) of 15 billion gallons for ethanol and 5.25 billion gallons for biomass biodiesel, emphasizing the importance of certainty in regulations for capital investments [14][15] - **Market Demand**: The company is cautious about demand softness in certain segments, particularly in the carbohydrate solutions and nutrition businesses, but remains optimistic about long-term growth [41][49] Strategic Initiatives - **Digital Transformation**: ADM is investing in digital capabilities to enhance operational efficiency and data analytics, which are expected to drive better decision-making and performance [11][71] - **Capital Allocation**: The company is focused on maintaining a strong balance sheet while investing in organic growth and returning capital to shareholders through dividends and share buybacks [67][72] Additional Insights - **Sustainability Focus**: ADM is committed to sustainability initiatives, including carbon capture and renewable products, which are seen as key growth areas [30][31] - **Portfolio Management**: The company is actively evaluating its portfolio for simplification and potential divestitures, with a focus on areas where it has a competitive advantage [65][73] Conclusion - **Long-term Outlook**: ADM is positioned for long-term value creation through operational excellence, strategic growth initiatives, and a strong balance sheet, despite facing short-term challenges in the market [12][73]

| | | 日度策略参考 | | | --- | --- | --- | --- | | 行业板块 | 品神 | 趋势研判 | 逻辑观点精粹及策略参考 | | | 股指 | 周济 | 4月以来,在国家政策、中央汇金资金的托底作用下,股指已收复 4月2日关税冲击形成的技术缺口,当前追涨风险收益比不高。持 | | | | | 有的多头可考虑冲高减仓。 | | | 国债 | 黑汤 | 资产荒和弱经济利好债期,但短期央行提示利率风险,压制上涨 | | 宏观金融 | | | 空间。 | | | 真金 | 農汤 | 短期市场风险偏好回暖,金价或进入盘整;但中长期上涨逻辑尚 未改变。 | | | | | 整体跟随黄金,但关税超预期结果将利好白银商品属性,因此短 | | | 日银 | 震荡 | 期银价韧性或强于黄金。 | | | 同G座 | 農汤 | 中美贸易谈判结果超预期,短期市场情绪有所好转,但铜价已明 | | | | | 显回升，价格或震荡运行。 | | | | 着% | 电解铝自身产业面无明显矛盾,在中美贸易谈判结果超预期情况 铝价延续反弹走势。 | | | 氧化铝 | 看头 | 铝土矿及氧化铝供应扰动有所提升,氧化 ...

Group 1 - The core objective of the "China-Brazil Business Seminar" is to implement the important consensus reached by the leaders of both countries and deepen practical cooperation across various fields [1] - In 2024, the bilateral trade volume between China and Brazil is projected to reach $188.17 billion, reflecting a year-on-year growth of 3.56% [1] - Brazil's unique advantages in clean energy and biofuels are highlighted, with an emphasis on deepening cooperation with China in the renewable energy sector, where Brazil's renewable energy generation has surpassed 90% [1] Group 2 - Infrastructure construction is identified as a key area for cooperation, with Brazil expressing interest in learning from China's advanced experience in railway construction, particularly in high-speed rail and hydrogen-powered train technology [2] - Brazil aims to strengthen collaboration with China in research and education, supporting exchanges between universities and research institutions to cultivate a new generation of engineering and technical talent [2]

01 观点综述 月度观点综述 | 供需 | 炼厂开工与产量方面，全球燃料油产量总体月度环比维持下降，主要由于沙特、伊朗等中东地区产量环 比下滑导致。需求端，新加坡船燃市场在4月开始船燃销量可能有边际恢复迹象，Bunker-FOB价差走强； | | --- | --- | | | 同时Kpler数据显示，中国高硫进口4月继续下降，二次原料需求同比弱势明显。 | | 价格与价差 | 绝对价格方面，全球各地燃料油价格月内呈现底部反弹趋势，低硫仍然在价格、价差表现强于高硫：高 | | | 硫、低硫裂解价差目前高位震荡走势，同时各地燃料油纸货月差环比走强。 4月开始，燃料油市场首先在需求层面出现了一些环比改善的迹象：首先，新加坡市场船燃价格对FOB价 | | | 格的溢价持续上升，预示着加注需求表现较好，船燃销量季节性回升将提供利好驱动；同时粘度价差仍然 处于季节性高位，发电需求短期仍有支撑。因此，后续市场的交易核心将在供应端。 目前来看，中东、俄罗斯的发运数量在4月达到了增长瓶颈，但5月开始，北半球将逐步进入油品消费高 | | | 峰，炼厂开工预计会继续上升，这将被动带来高硫燃料油产出的增加，尤其是开工低位的俄罗斯炼 ...

Core Insights - The Ministry of Finance has allocated a total of 2.34 billion yuan for the third year of fuel cell vehicle demonstration applications, with cumulative rewards exceeding 5.1 billion yuan over three years [1][2] - The market scale for hydrogen fuel cell vehicles is increasing, with an average annual growth rate of 43% in reward funds over the past three years [1][5] - The total sales of fuel cell vehicles in China reached 29,500 units as of March this year, marking a fourfold increase compared to before the demonstration [1][2] Funding and Market Growth - Hebei province has been the largest beneficiary of the funding, primarily due to the demonstration applications in Tangshan, followed by Shanghai and Henan [1] - Beijing's reward funding saw a significant increase of over 85% in the third year, particularly in the Daxing district [1] - The five major hydrogen fuel cell demonstration city clusters have received approximately 5.11 billion yuan in central government rewards, accounting for 54.6% of the maximum subsidy available [2] Sales Projections and Challenges - The sales of fuel cell vehicles are expected to exceed 10,000 units this year, with 45.4% of the reward funds yet to be disbursed [2][3] - As of March 2025, the five major demonstration city clusters have promoted 15,850 fuel cell vehicles, representing 48.8% of the total target of 32,455 vehicles [2] - The completion of the remaining promotion tasks may face challenges, particularly in Guangdong and Hebei due to higher targets [2] Policy Recommendations - The government is encouraged to develop follow-up policies to ensure the continued success of the fuel cell vehicle demonstration program [4][5] - The core objective of the demonstration city clusters is to support breakthroughs in core technologies and achieve self-sufficiency in the supply chain [4] - The industry has achieved significant advancements, with over 80% self-sufficiency in key components and a 97% self-sufficiency rate in hydrogen fuel cell systems [5] Future Outlook - The hydrogen fuel cell vehicle industry is transitioning from initial breakthroughs to scaling up and enhancing global competitiveness [5] - Continuous funding and policy support are essential for stabilizing industry expectations and fostering sustainable development in the hydrogen energy sector [5]