泸天化（000912）公告，预计2025年1月1日至2025年6月30日归属于上市公司股东的净利润为3500万 元-5000万元，比上年同期的1.34亿元下降73.85%-62.64%。扣除非经常性损益后的净利润为200万 元-1700万元，比上年同期的6309万元下降96.83%-73.05%。基本每股收益预计为0.0223元/股–0.0319元/ 股。公司2025半年度业绩较去年同期下降的主要原因是公司主要产品销售价格比去年同期大幅下降，导 致毛利率大幅下降。 ...

Summary of Key Points Core Viewpoint - The company has decided to repurchase and cancel a total of 660,032 shares from its employee stock ownership plan due to unmet performance targets for the first lock-up period of the 2024-2026 employee stock ownership plan [1][3]. Group 1: Reasons for Repurchase and Cancellation - The repurchase and cancellation are based on the provisions of the employee stock ownership plan, which stipulates that if the company's performance targets are not met, the corresponding unvested shares must be repurchased and canceled [2][3]. - The repurchase price is set at 6.13 yuan per share plus the interest from bank deposits [3]. Group 2: Details of the Repurchase - The repurchase involves 81 individuals, including key executives such as the chairman and general manager, with a total of 660,032 shares to be canceled [3]. - After the cancellation, the remaining shares in the employee stock ownership plan will total 990,048 shares [3]. Group 3: Impact on Share Capital Structure - Following the repurchase and cancellation, the total number of shares will decrease from 312,901,360 to 312,241,328 [4][5]. - The cancellation of these shares is not expected to have a significant impact on the company's financial status or operational results [4].

Core Viewpoint - Zhongyan Chemical (600328) announced that its associate company, Zhongyan Bicarbonate Co., Ltd., signed a mining rights transfer contract with the Tongliao Natural Resources Bureau to acquire the natural soda mining rights in the Nai Manqi Da Qin Ta La area for 6.809 billion yuan [1] Group 1 - The mining rights cover an area of 28.85 square kilometers and the extraction method will be underground [1] - The contract has an initial registration period of 30 years [1] - Zhongyan Bicarbonate is required to pay the transaction price within 30 days of receiving the payment notice and will pay an annual transfer income of 2.9% of sales revenue [1] Group 2 - Zhongyan Chemical's major asset restructuring is progressing as planned [1]

证券代码：301300 证券简称：远翔新材 公告编号：2025-027 福建远翔新材料股份有限公司 关于 2023 年限制性股票激励计划第二个归属期 第一批次归属结果暨股份上市的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完 整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 为 0.54%。 福建远翔新材料股份有限公司（以下简称"公司"或"远翔新材"） 于 2025 年 6 月 10 日召开第四届董事会第四次会议和第四届监事会第 四次会议，审议通过了《关于 2023 年限制性股票激励计划第二个归 属期归属条件成就的议案》，近日，公司办理了关于公司 2023 年限 制性股票激励计划第二个归属期第一批次归属股份的登记工作，现将 有关事项说明如下： 一、股权激励计划简述及已履行的相关审批程序 （一）限制性股票激励计划简述 通过了《关于 <福建远翔新材料股份有限公司 ensp="ensp" 年限制性股票激励="年限制性股票激 励"> 事会秘书 小计 68.50 52.69% 1.07% 计划（草案）>及其摘要的议案》等相关议案，公司 2023 年限制性股 票激励计划的主要内容如下： （A 股）股 ...

二苯基磷氧是一种有机磷化合物，它广泛用作化学中间体、配位化学中的配体，近年来也用作高性能阻燃剂和光电材料的基料。全球二苯基 磷氧市场目前仍属于小众市场，但近年来由于对环保型磷基阻燃剂的需求不断增长，以及新型应用的探索和研究推动，市场或将迎来发展机 遇。 生产路线方面，市场目前以中间体合成工艺为主，山东洪川化工有限公司、武汉吉鑫益邦生物科技有限公司、本溪吉凯科技有限公司均采用 此技术路线。但该技术路线成本较高，受上游原料波动性限制较大。为了降低成本，淄博盛森精细化工有限公司实现了原料合成工艺法的采 用，因此其具备明显的价格优势，但由于其规模较小且尚未完成专利申请，所以竞争能力有限。 未来，市场应用领域将持续拓展，技术将进一步升级。区域格局特点依旧，中国凭借政策支持和产业链优势，占据主要市场。 总之，二苯基磷氧市场正从一种利基化学品发展成为涵盖多个高价值领域的战略中间体。受淘汰卤素的监管压力以及磷化学技术的进步的推 动，二苯基磷氧拥有广阔的增长潜力。然而，原材料价格波动，需求不稳定仍然是影响市场发展轨迹的关键因素。整体来说，二苯基磷氧市 场属于小众市场，规模有限，但一旦下游市场被打开，其将迎来进一步发展。 根据 ...

Market Overview - The FTSE China A50 Index components showed varied performance, with the liquor sector rising throughout the day while the semiconductor sector experienced a decline in the afternoon [1] Insurance Sector - China Life Insurance, China Pacific Insurance, and Ping An Insurance had market capitalizations of CNY 376.78 billion, CNY 356.91 billion, and CNY 1,017.95 billion respectively, with trading volumes of CNY 0.75 billion, CNY 2.22 billion, and CNY 0.84 billion [3] - The stock prices changed as follows: China Life Insurance decreased by CNY 0.73 (-1.93%), China Pacific Insurance decreased by CNY 0.55 (-0.97%), and Ping An Insurance decreased by CNY 0.14 (-1.62%) [3] Liquor Industry - Kweichow Moutai, Shanxi Fenjiu, and Wuliangye had market capitalizations of CNY 1,782.39 billion, CNY 217.50 billion, and CNY 472.00 billion respectively, with trading volumes of CNY 3.95 billion, CNY 2.00 billion, and CNY 2.48 billion [3] - Stock price changes included Kweichow Moutai increasing by CNY 2.38 (+1.35%), Shanxi Fenjiu increasing by CNY 0.82 (+0.68%), and Wuliangye increasing by CNY 2.77 (+0.20%) [3] Semiconductor Sector - Northern Huachuang, Cambricon Technologies, and Hygon had market capitalizations of CNY 238.96 billion, CNY 223.82 billion, and CNY 314.69 billion respectively, with trading volumes of CNY 1.47 billion, CNY 1.23 billion, and CNY 2.64 billion [3] - The stock prices changed as follows: Northern Huachuang decreased by CNY 7.77 (-1.43%), Cambricon Technologies decreased by CNY 1.51 (-1.10%), and Hygon decreased by CNY 2.82 (-0.84%) [3] Automotive Sector - BYD, Great Wall Motors, and Beijing-Shanghai High-Speed Railway had market capitalizations of CNY 187.27 billion, CNY 1,790.16 billion, and CNY 280.83 billion respectively, with trading volumes of CNY 3.97 billion, CNY 0.31 billion, and CNY 0.56 billion [3] - Stock price changes included BYD decreasing by CNY 1.08 (-0.33%), Great Wall Motors decreasing by CNY 0.08 (-0.36%), and Beijing-Shanghai High-Speed Railway increasing by CNY 0.03 (+0.53%) [3] Shipping and Oil Sector - COSCO Shipping Holdings, Sinopec, and PetroChina had market capitalizations of CNY 235.91 billion, CNY 688.67 billion, and CNY 1,570.32 billion respectively, with trading volumes of CNY 0.77 billion, CNY 1.08 billion, and CNY 0.76 billion [3] - The stock prices changed as follows: COSCO Shipping Holdings remained unchanged, Sinopec decreased by CNY 0.09 (-0.59%), and PetroChina increased by CNY 0.01 (+0.12%) [3] Coal and Battery Sector - China Shenhua, Shaanxi Coal and Chemical Industry, and CATL had market capitalizations of CNY 185.95 billion, CNY 745.07 billion, and CNY 1,234.66 billion respectively, with trading volumes of CNY 0.79 billion, CNY 0.69 billion, and CNY 7.95 billion [3] - Stock price changes included China Shenhua increasing by CNY 7.49 (+2.84%), Shaanxi Coal and Chemical Industry decreasing by CNY 0.22 (-0.58%), and CATL increasing by CNY 0.03 (+0.16%) [3] Other Sectors - Various sectors such as food and beverage, electronics, and pharmaceuticals showed mixed performance in terms of market capitalization and stock price changes [4]

Group 1 - PVC futures main contract experienced fluctuations, reaching a peak of 4930.00 yuan, closing at 4920.00 yuan with a 0.70% increase [1] - Institutions predict PVC prices will remain weak due to increased supply and low demand, with expectations of low-level fluctuations [1][2] - The supply side is pressured by new production capacities from companies like Wanhua Chemical and Tianjin Bohua, while demand remains sluggish, particularly in the real estate sector [1][2] Group 2 - The Indian PVC BIS policy has been postponed for another six months, which may positively impact future PVC exports [2] - The market anticipates an improvement in the oversupply situation due to the impact of anti-involution policies and sentiment in the building materials sector [2] - The expected trading range for the PVC 2509 contract is between 4800 and 5100 yuan, indicating low-level fluctuations [2]

Group 1 - The core viewpoint of the news is that Ningxia Baofeng Energy Group Co., Ltd. has applied for a patent related to the calculation method for propylene loss during the regeneration of propylene protection beds and liquid phase dryers, which aims to control production costs and improve economic efficiency [1] Group 2 - Ningxia Baofeng Energy Group Co., Ltd. was established in 2005 and is located in Yinchuan City, primarily engaged in the manufacturing of chemical raw materials and chemical products [2] - The company has a registered capital of 733.336 million RMB and has made investments in 16 enterprises [2] - The company has participated in 5,000 bidding projects and holds 438 patents along with 23 trademark registrations and 774 administrative licenses [2]

Financial Sector - The banking sector showed a general upward trend with notable performances from major banks such as China Life Insurance and Ping An Insurance, with market capitalizations of 380.77 billion and 1,023.96 billion respectively [4] - China Life Insurance experienced a slight decline of 0.29% while Ping An Insurance decreased by 0.58% [4] Semiconductor Sector - The semiconductor sector displayed mixed results, with North Huachuang's market capitalization at 241.30 billion and a decrease of 0.32% [4] - Cambrian's stock price increased slightly by 0.13%, while Haiguang Information saw a decline of 0.49% [4] Automotive Sector - The automotive sector, led by BYD with a market capitalization of 1,790.49 billion, experienced a minor decline of 0.31% [4] - Great Wall Motors and China Railway High-speed also showed slight increases of 0.41% and 1.05% respectively [4] Energy Sector - In the energy sector, China Petroleum and China Petrochemical had market capitalizations of 1,588.62 billion and 693.52 billion respectively, with China Petroleum increasing by 1.28% [4] - China Shipping Development remained stable with no change [4] Coal Industry - The coal industry saw Shaanxi Coal and China Shenhua with market capitalizations of 750.83 billion and 185.66 billion respectively [4] - China Shenhua's stock price increased by 4.03% while Shaanxi Coal remained unchanged [4] Food and Beverage Sector - The food and beverage sector included major players like Haitian Flavor Industry with a market capitalization of 228.10 billion, which increased by 0.46% [5] - Other companies in this sector showed stable performances with minor fluctuations [5] Electronics and Pharmaceuticals - The electronics sector, represented by Hon Hai Precision Industry, had a market capitalization of 365.78 billion and a slight increase of 0.34% [5] - In pharmaceuticals, Hengrui Medicine's market capitalization was 529.06 billion, with a notable increase of 0.99% [5] Logistics and Medical Devices - The logistics sector, led by SF Holding, had a market capitalization of 2,415.92 billion, experiencing a decline of 0.88% [5] - In medical devices, Mindray Medical's market capitalization was 172.94 billion, with a minor decrease of 0.02% [5] Metals and Construction - The non-ferrous metals sector included Zijin Mining with a market capitalization of 247.51 billion, which saw a decline of 3.38% [5] - China State Construction had a market capitalization of 1,700.78 billion, with a slight increase of 0.67% [5]

交易咨询业务资格：证监许可【2012】1091号 2025-07-09甲醇早报 大越期货投资咨询部 金泽彬 从业资格证号：F3048432 投资咨询证号：Z0015557 联系方式：0575-85226759 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投 资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 CONTENTS 目 录 1 每日提示 2 多空关注 1.部分装置停车：榆林凯越、新疆新业等。 2.伊朗甲醇开工降低；港口库存处于低位。 3.荆门60万吨/年醋酸装置已于5月16日出产品；新疆中和合众60万吨/年醋酸本月下旬 有投产计划。 3 基本面数据 4 检修状况 甲醇2509： 1、基本面：港口方面，短期尚有部分内地货源流入套利，且本周进口到货集中，库存或有累积风险，另随着伊朗装置 逐步恢复，后续进口量回升预期下，短期业者信心不足，不过伊朗中止与联合国核监督机构合作，宏观面尚存支撑，短 期港口甲醇多空博弈下震荡为主。内地方面，上游甲醇企业库存不多，加之近期产区甲醇装置集中检修，供应端并无压 力，对行情有一定支撑。 ...