| 示 亦安期货 | | --- | 纸浆早报 研究中心能化团队 2026/02/03 SP主力合约收盘价： 5266.00 | 日期 | 2026/02/02 | 2026/01/30 | 2026/01/29 | 2026/01/28 | 2026/01/27 | | --- | --- | --- | --- | --- | --- | | 主力合约收盘价 | 5266.00 | 5300.00 | 5388.00 | 5374.00 | 5342.00 | | 折美元价 | 661.49 | 666.08 | 677.54 | 675.82 | 670.56 | | 距上一日涨跌 | -0.64151% | -1.63326% | 0.26051% | 0.59903% | -0.59546% | | 山东银星基差 | 109 | 75 | 12 | 26 | 58 | | 江浙沪银星基差 | 124 | 90 | 12 | 26 | 58 | 以13%增值税计算 | 产地 | 品牌 | 价格说明 | 港口美元价格 | 山东地区人民币价格 | 进口利润 | | --- | --- | --- | -- ...

| 发行价格 | 37.88元 | | --- | --- | | 简答率 | 0.02% 询价! | | 总市值 | 21.43亿 | | 发行市盈率 | 18.69 行业 | | 业务及亮点 | 1、公司是安徽省瓦楞纸和箱板纸生产龙头企业， | | | 35.65%。 | | | 2、深耕行业20余年，与合兴包装、建发股份、L | | | 系，位列全国造纸企业产量前30名。 | | | 3、募投项目投产后，原纸合计生产能力将从115 | | | 有望进一步提升。 | 2月3日新股缴款（共2只 | | | 电科蓝天(科创板,688 | | | --- | --- | --- | --- | | 发行价格 | 9.47元 | | | | 中签率 | 0.03% | | 询价! | | 总市值 | 148.0亿 | | | | 发行市盈率 | 56.79 | | 行业 | | 业务及亮点 | 1、 公司前身由中国电科十八所设立，中国电科为 | | | | | 务,是电科旗下电能源产业国家队。 | | | | | 2、公司是国内宇航电源领域绝对龙头，产品市场 | | | | | 深空，2025H1宇航电源收入占比 ...

《河南省推动生态环境质量稳定向好三年行动计划（2023—2025年）》明确提出：到2025年，火电、钢 铁等行业大宗货物清洁运输比例达到80%以上。 对于多地出现"换头进厂"的情况，河南省生态环境厅有关负责人表示，从未要求企业限制"国六"排放标 准货车运输，将进行实地调研，及时解决目前出现的问题。 （来源：千龙网） "换车头进厂"的荒诞一幕，暴露出明显的形式主义隐患。 为响应环保部门对大气污染防治的要求，拉煤的"国六"货车需换电动车头，才能进厂卸货？新京报记者 近日赴河南多地调查发现，一些造纸、火电企业，只允许新能源电动货车入厂。由此，催生了货车"换 头"的生意：有人专门在厂区外租赁新能源电动车头，根据使用时长不同，收费200元至400元不等，也 有货车因等待卸货耗时长，被收费数百元。 目前，河南省相关部门已表态将调研纠偏，这是一个积极信号。但仍值得深思的是，为何一项旨在减排 的政策，会在执行中异化为增加成本、催生形式主义的机械操作？ 此外，即便没有这样的"换车头"操作，也有必要进一步审视，对清洁运输的考核评估，是否在一些地方 变成了只对车辆进厂环节进行考核？ 提高大宗货物清洁运输比例，本是优化运输结构、推进 ...

（编辑 任世碧） 证券日报网讯 2月2日，荣晟环保发布2025年前三季度权益分派实施公告称，公司2025年前三季度权益 分派方案为A股每股现金红利0.38元（含税），股权登记日2026年2月6日，除权除息日及红利发放日均 为2026年2月9日。 ...

（文章来源：证券日报） 证券日报网讯 2月2日，景兴纸业发布公告称，截至2026年1月31日，公司股份回购专用证券账户以集中 竞价交易方式累计回购公司股份1，293，300股，占公司总股本的0.0877%。 ...

Group 1 - The company disclosed that its external investment situation is included in the annual report [1]

Group 1 - The core viewpoint of the article highlights the recent performance and financial metrics of Shanying International (600567), indicating a decline in both revenue and net profit for the first three quarters of 2025 compared to the previous year [1] - As of February 2, 2026, Shanying International's stock closed at 1.61 yuan, down 2.42%, with a trading volume of 993,600 hands and a total transaction amount of 162 million yuan [1] - The company's main business includes the production and sales of boxboard paper, corrugated paper, specialty paper, paperboard, and paper packaging products, as well as domestic and international fiber recycling trade [1] Group 2 - For the first three quarters of 2025, Shanying International reported a main revenue of 21.133 billion yuan, a year-on-year decrease of 2.17%, and a net profit attributable to shareholders of -290 million yuan, a year-on-year decline of 522.74% [1] - The third quarter of 2025 saw a single-quarter main revenue of 7.291 billion yuan, down 0.77% year-on-year, and a net profit attributable to shareholders of -331 million yuan, a year-on-year decrease of 636.03% [1] - The company's debt ratio stands at 67.69%, with investment income of 37.952 million yuan and financial expenses of 624 million yuan, resulting in a gross profit margin of 7.91% [1]

Core Insights - The collaboration between South China University of Technology and Shandong Huasheng Rubber Co., Ltd. focuses on the industrial application of lignin in green tire production, showcasing a successful model of industry-academia-research cooperation [1][6] Group 1: Lignin Utilization - Lignin, a byproduct of the paper industry, can achieve high-value utilization in the rubber tire sector, addressing long-standing issues of "easy agglomeration and difficult dispersion" in rubber applications [3][8] - The research team has developed a multi-level nano-micro phase separation structure and dynamic energy sacrifice bonds, significantly improving the compatibility of lignin with rubber [3][8] - The application of lignin can reduce tire rolling resistance by 5-10% and enhance aging resistance by over 20%, while its natural UV resistance helps mitigate performance degradation during use [3][8] Group 2: Cost Efficiency and Economic Impact - Lignin's cost is only 30-50% of traditional reinforcing agents like silica, providing a buffer for tire companies against raw material price fluctuations [3][8] - The collaboration also explores the "lignin + silica" pre-dispersion technology, which improves processing performance and balances the "magic triangle" of rolling resistance, wet grip, and wear resistance in tire formulations [10] Group 3: Circular Economy Initiatives - Huatai Paper Industry is implementing a "waste-to-resource" practice by extracting high-purity lignin from paper black liquor, with a project to produce 50,000 tons of lignin annually using advanced membrane separation technology, reducing costs by 15-20% [10] - The project aims to create a circular economy loop from "green electricity - pulp - lignin - rubber," contributing to environmental sustainability [10] - Current advancements in the application of lignin in tire formulations have shown progress in sidewall and inner liner compounds, although challenges remain for large-scale replacement in tread compounds [10]

生意社02月02日讯玖龙纸业太仓基地自2月2日起，瓦楞纸价格上调30元/吨。 PriceSeek评析 瓦楞纸，多空评分：1 玖龙纸业太仓基地上调瓦楞纸价格30元/吨，反映市场供需趋紧或需求回暖，利好现货价格。作为行业 龙头企业，此举可能带动其他纸企跟涨，推高现货市场整体报价。结合当前纸浆成本支撑和消费旺季预 期，预计短期现货价格将温和上涨。 【大宗商品公式定价原理】生意社基准价是基于价格大数据与生意社价格模型产生的交易指导价，又称 生意社价格。可用于确定以下两种需求的交易结算价： 1、指定日期的结算价 2、指定周期的平均结算价 定价公式：结算价=生意社基准价×K＋C K：调整系数，包括账期成本等因素。 C：升贴水，包括物流成本、品牌价差、区域价差等因素。 生意社02月02日讯玖龙纸业太仓基地自2月2日起，瓦楞纸价格上调30元/吨。 PriceSeek评析 瓦楞纸，多空评分：1 玖龙纸业太仓基地上调瓦楞纸价格30元/吨，反映市场供需趋紧或需求回暖，利好现货价格。作为行业 龙头企业，此举可能带动其他纸企跟涨，推高现货市场整体报价。结合当前纸浆成本支撑和消费旺季预 期，预计短期现货价格将温和上涨。 【大宗商品公式定 ...

Market Overview - The paper sector experienced a decline of 4.18% on February 2, with Huatai Co. leading the drop [1] - The Shanghai Composite Index closed at 4015.75, down 2.48%, while the Shenzhen Component Index closed at 13824.35, down 2.69% [1] Individual Stock Performance - Huatai Co. (600308) closed at 3.90, down 7.36% with a trading volume of 516,000 shares and a turnover of 206 million yuan [1] - Sun Paper (002078) closed at 15.69, down 6.72% with a trading volume of 406,700 shares and a turnover of 652 million yuan [1] - Xianhe Co. (603733) closed at 23.28, down 5.17% with a trading volume of 77,600 shares and a turnover of 185 million yuan [1] - Wuzhou Special Paper (605007) closed at 13.40, down 5.10% with a trading volume of 104,400 shares and a turnover of 144 million yuan [1] - Hengfeng Paper (600356) closed at 9.36, down 4.97% with a trading volume of 172,800 shares and a turnover of 164 million yuan [1] Capital Flow Analysis - The paper sector saw a net outflow of 149 million yuan from institutional investors, while retail investors had a net inflow of 130 million yuan [1] - The table indicates that institutional investors had varying levels of net inflow and outflow across different stocks, with Sun Paper showing a net inflow of 32.24 million yuan from retail investors [2] - Xianhe Co. had a significant net inflow of 26.34 million yuan from institutional investors, while other stocks like Yuyuan Lin Paper (600963) experienced substantial net outflows [2]