Group 1 - The manufacturing PMI for June is reported at 49.7%, indicating a slight improvement from the previous value of 49.5%, suggesting a continued recovery in manufacturing activity [1] - The construction business activity index rose to 52.8% from 51%, while the services business activity index decreased to 50.1%, down by 0.1 percentage points from the previous month [1] - The production index and new orders index in manufacturing are both in the expansion zone, with marginal increases of 0.3 and 0.4 percentage points to 51% and 50.2%, respectively [2] Group 2 - The internal demand index increased by 0.4 percentage points to 50.6%, outpacing the new export orders index, which rose by 0.2 percentage points to 47.7% [2] - High-frequency indicators show that the year-on-year growth rate of foreign trade cargo volume narrowed from -3.8% to -3.5%, indicating a continued weakening in export strength [2] - The PMI data indicates a divergence in performance among enterprises, with large and medium-sized enterprises seeing increases in PMI, while small enterprises experienced a decline to 47.3%, the lowest since September 2024 [3] Group 3 - The manufacturing sector faces downward pressure due to a potential weakening in export chain production as the equipment renewal cycle declines [3] - Recent policies aimed at boosting domestic demand, including a 500 billion yuan service consumption relending initiative, are expected to support service consumption and infrastructure investment [3] - The PMI improvements in June were more pronounced in industries such as petroleum processing, pharmaceutical manufacturing, and chemical manufacturing, while sectors like electrical machinery and textiles saw significant declines [3]

IPO Review and Registration Progress - A total of 75 IPO applications were accepted last week, with 48 companies aiming for the North Exchange, 12 for the Growth Enterprise Market, 7 for the Sci-Tech Innovation Board, and 4 for the Shanghai and Shenzhen main boards [2][3] - The highest fundraising target among the new applicants is from Zhenstone Co., which plans to raise 3.981 billion yuan for various projects including production bases and R&D [2][4] - Most of the newly accepted companies are expected to be profitable in 2024, with only two companies, Shiya Technology and Dapu Micro, projected to incur losses [4][5] Company Highlights - Zhenstone Co. is a national high-tech enterprise focused on clean energy fiber-reinforced materials, with projected revenues of 5.267 billion yuan in 2022, 5.124 billion yuan in 2023, and 4.439 billion yuan in 2024 [4] - Dapu Micro, the first unprofitable company accepted for the Growth Enterprise Market, specializes in enterprise-level SSD products and aims to achieve profitability by 2026 [5] - Aomeisen, which passed the IPO review, is a smart equipment manufacturer with expected revenues of 358 million yuan in 2024 [6] New Stock Listings and Subscriptions - Guangxin Technology debuted on the North Exchange with a first-day increase of 500%, closing at 60 yuan per share [12] - Xintong Electronics is set to list on the Shenzhen main board on July 1, 2025, with projected revenues of 1.005 billion yuan in 2024 [12] - Tongyu New Materials will have its subscription on July 1, with an issue price of 84 yuan per share and expected total fundraising of 840 million yuan [13]

Group 1 - The major shareholder, China Petroleum & Chemical Corporation Capital Co., Ltd., plans to reduce its holdings by no more than 3.5256 million shares, accounting for no more than 1.74% of the company's total share capital [1] - Currently, China Petroleum & Chemical Corporation Capital holds 13.6595 million shares, representing 6.74% of the company's total share capital [1] - The reduction plan will be executed through block trading within three months after the announcement, starting fifteen trading days from the date of disclosure [1]

| | | PVC产业日报 2025-06-30 何保证，据此投资，责任自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本 报告版权仅为我公司所有，未经书面许可，任何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为 瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引用、删节和修改。 吨，库存趋势由降转升，库存压力不大。目前国内PVC行业处于检修密集阶段。下周停车装置影响扩大，产 权不得卸货，后期乙烷供应或将逐步放松。目前PVC供需双弱，成本端对价格起主导作用。短期V2509预计 偏弱震荡，日度K线关注4830附近支撑。 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 收盘价:聚氯乙烯(PVC)(日,元/吨) | 4889 | -30 成交量:聚氯乙烯(PVC)(日,手) | 792725 | -2657 ...

Group 1 - The photoresist concept index rose by 3.19%, ranking 8th among concept sectors, with 68 stocks increasing in value, including KaiMeiTeQi and XingYe股份 reaching the daily limit, and GuangXin材料, ALaDing, and JiuRi新材 showing significant gains of 15.35%, 7.89%, and 7.81% respectively [1] - The concept sector saw a net inflow of 613 million yuan from main funds, with 43 stocks receiving net inflows, and 8 stocks exceeding 30 million yuan in net inflow, led by KaiMeiTeQi with a net inflow of 226 million yuan [1] - The top three stocks by net inflow ratio were KaiMeiTeQi at 56.32%, JuShi化学 at 15.89%, and LaiBoTaiKe at 15.85% [2] Group 2 - The top gainers in the photoresist concept included KaiMeiTeQi, GuangXin材料, and XingYe股份, with respective daily increases of 10.04%, 15.35%, and 10.01% [2] - The trading volume and turnover rates for the leading stocks were significant, with GuangXin材料 achieving a turnover rate of 31.14% and XingYe股份 at 20.39% [2] - Stocks such as ALaDing and JiuRi新材 also performed well, with increases of 7.89% and 7.81% respectively, indicating strong market interest [4]

Group 1 - India has initiated an anti-dumping investigation against Para-Tertiary Butyl Phenol imported from mainland China and Taiwan [1] - The investigation was prompted by a complaint from Indian producer Vinati Organics Limited [1] - The investigation period for dumping is set from April 2024 to March 2025, while the damage investigation covers the years 2021 to 2024 [1]

据中国贸易救济信息网消息，2025年6月26日，印度商工部发布公告称，应印度生产商Laxmi Organics Industries Limited提交的申请，对原产于或进口自中国的乙酰乙酸甲酯（Methyl Acetoacetate）启动第二 次反倾销日落复审调查。本案倾销调查期为2024年1月～2024年12月（12个月），损害调查期为2021年4 月～2022年3月、2022年4月～2023年3月、2023年4月～2024年3月及倾销调查期。涉案产品的印度海关 编码为29183040、29146990、29153910、29153940、29153990、29183090、29331990、29410090和 29189900。 利益相关方应于立案之日起30天内以电子邮件（发送至：dd15-dgtr@gov.in、dir16-dgtr@gov.in、adv13- dgtr@gov.in）的方式向调查机关提交相关信息。 2015年1月7日，印度对原产于或进口自美国和中国的乙酰乙酸甲酯进行反倾销调查。2016年5月31日， 印度开始对中国和美国涉案产品征收反倾销税，其中，中国为0.277～0.404美元/千 ...

Core Viewpoint - Tongyu New Materials (Guangdong) Co., Ltd. is preparing for its IPO on the ChiNext board, with a share price set at 84 yuan and a price-to-earnings ratio of 23.94 times, amid concerns over declining net profits and research and development (R&D) expenditures [3][4]. Financial Performance - The company reported revenues of 378.16 million yuan in 2020, 947.08 million yuan in 2021, 1.19 billion yuan in 2022, 886.25 million yuan in 2023, and 952.47 million yuan in 2024, with corresponding net profits of 39.99 million yuan, 135.27 million yuan, 188.00 million yuan, 164.48 million yuan, and 143.31 million yuan [4]. - R&D expenditures from 2022 to 2024 were 14.93 million yuan, 19.25 million yuan, and 21.60 million yuan, representing 1.25%, 2.17%, and 2.27% of revenue, respectively, which is significantly lower than the industry average of 4.15% and 4.06% for the same years [4]. R&D and Innovation - The company has been recognized as a high-tech enterprise since November 2017, with successful re-evaluations in 2020 and 2023, maintaining compliance with the necessary criteria [5]. - As of the end of 2022, the company had 30 R&D personnel, consistent with disclosures in its prospectus [6]. Patent Portfolio - Tongyu New Materials holds 17 patents, with 16 being invention patents, indicating a focus on innovation within its product offerings [7]. Customer Base and Sales - The top five customers accounted for 79.43%, 76.52%, and 68.75% of total revenue during the reporting period, with significant contributions from major clients such as Nanya Technology and Kingboard Chemical Holdings [8][11]. - There are discrepancies in reported sales contracts, particularly with Nanya Technology, raising questions about the accuracy of sales data disclosed in the prospectus [10][12].

兴化股份（002109）公告，全资子公司陕西延长石油兴化化工有限公司因例行停车检修，于2025年6月 29日开始，预计停车约34天，具体复产时间以装置实际开车时间为准。本次停车检修是兴化化工的例行 年度检修，对公司第三季度的经营业绩会产生一定影响，但对2025年经营业绩不会产生重大影响。 ...

Group 1 - The core viewpoint of the article highlights the recent performance and financial metrics of Saiwu Technology (603212), indicating a significant drop in revenue and net profit for the first quarter of 2025 [1] - As of June 30, 2025, Saiwu Technology's stock closed at 12.49 yuan, reflecting a 10.04% increase with a trading volume of 281,300 hands and a transaction amount of 346 million yuan [1] - The company experienced a net inflow of 160 million yuan from main funds, accounting for 46.08% of the transaction amount, with large orders showing a net inflow of 162 million yuan [1] Group 2 - For the first quarter of 2025, Saiwu Technology reported total operating revenue of 643 million yuan, a year-on-year decrease of 27.35%, and a net profit attributable to shareholders of 33.155 million yuan, down 216.13% year-on-year [1] - The company's liquidity ratios are reported as a current ratio of 1.998 and a quick ratio of 1.651, with a debt-to-asset ratio of 38.17% [1] - Saiwu Technology, established in 2008 and located in Suzhou, has a registered capital of 437.49 million yuan and a paid-in capital of 115.97 million yuan [1] Group 3 - Saiwu Technology has made investments in 15 companies and participated in 39 bidding projects, showcasing its active engagement in the market [2] - The company holds 63 trademark registrations and 495 patent registrations, indicating a strong focus on intellectual property [2] - Additionally, Saiwu Technology possesses 28 administrative licenses, further demonstrating its operational capabilities [2]