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]

Industry Overview - As of June 26, the average profit margin for calcium carbide method PVC production enterprises was -504 CNY/ton, a decrease of 10 CNY/ton month-on-month; the average profit margin for ethylene method PVC production enterprises was 693 CNY/ton, down 53 CNY/ton month-on-month [1] - On June 30, the PVC market in Hangzhou showed a subdued atmosphere, with spot prices fluctuating slightly; prices for calcium carbide method PVC ranged from 4780 to 4880 CNY/ton, while ethylene method prices were around 4920 to 4950 CNY/ton [1] - The 28th ICIS and Resource Wise World Chlor-Alkali Conference highlighted that various factors are suppressing PVC prices, pushing many PVC producers, especially in the U.S., to unsustainable profit margins [1] Institutional Insights - Guangzhou Futures noted that PVC is facing supply pressure due to the end of maintenance and the large-scale production of nearly 2 million tons of new capacity; however, the potential delay of India's PVC import BIS policy may benefit future exports [2] - Short-term speculative stockpiling demand is increasing due to low prices, coupled with stable costs from calcium carbide, leading to a slight upward price trend for PVC [2] - Wuzhou Futures indicated that profit pressures for enterprises are rising, with high production levels despite increased maintenance; expectations of new production units coming online and weak downstream demand contribute to a bearish outlook [3] - The anticipated anti-dumping measures in India may lead to a slowdown in exports, further pressuring the basic supply-demand dynamics [3]

乖 灰安期货 永安合成橡胶早报 研究中心能化团队 2025/6/30 | | | 指标 | 5/28 | 6/20 | 6/25 | 6/26 | 6/27 | 日度变化 | 周度变化 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 主力合约收盘价 | 11150 | 11630 | 11225 | 11195 | 11275 | 80 | -355 | | | | 主力合约持仓量 | 43664 | 13196 | 7623 | 36383 | 33472 | -2911 | 20276 | | | STET | | | | | | 96846 | -11484 | -9593 | | | | 主力合约成交量 | 168727 | 106439 | 37814 | 108330 | | | | | | | 仓单数量 | 9900 | 6630 | 6630 | 6530 | 7700 | 1170 | 1070 | | | | 虚实比 | 22.05 | તે તે તે આ ગામમ | 5.75 | 27.86 ...

芳烃橡胶早报 M E G 日期 东北亚乙烯 MEG外盘 价格 MEG内盘 价格 MEG华东 价格 MEG远月 价格 MEG煤制 利润 MEG内盘现金 流（乙烯） MEG总负 荷 煤制MEG 负荷 MEG港口 库存 非煤制负荷 2025/06/23 850 535 4597 4613 4600 684 -612 67.2 71.3 62.2 65 2025/06/24 850 517 4480 4495 4483 560 -726 67.2 71.3 62.2 65 2025/06/25 850 515 4398 4415 4400 478 -808 67.2 71.3 62.2 65 2025/06/26 850 511 4379 4395 4385 459 -824 67.2 71.3 62.2 65 2025/06/27 850 508 4346 4360 4347 417 -858 67.2 71.3 62.2 65 变化 0 -3 -33 -35 -38.00 -41.80 -34 0 0 0 0 MEG现货成交 基差对09（+70）附近。 MEG装置变化 浙石化80万吨检修。 周度观点 近端国内油制 ...

Core Viewpoint - The company Jiuri New Materials (688199.SH) announced a share reduction plan by its board member and financial director due to personal funding needs, with specific details on the number of shares to be sold and the timeline for the reduction [1][2]. Group 1: Share Reduction Plan - Board member Kou Fuping plans to reduce his holdings by up to 37,250 shares, representing 0.0231% of the total share capital, during the period from July 22, 2025, to October 21, 2025 [1]. - Financial director Ma Xiuling intends to reduce her holdings by up to 61,696 shares, accounting for 0.0383% of the total share capital, within the same timeframe [1]. Group 2: Company Financial Performance - In 2024, the company reported revenue of 1.488 billion yuan, a year-on-year increase of 20.52%, but a net loss attributable to shareholders of 53.76 million yuan, an improvement from a loss of 96.14 million yuan in the previous year [2]. - For Q1 2025, the company achieved revenue of 356 million yuan, a slight decline of 0.15% year-on-year, with a net loss attributable to shareholders of 10.52 million yuan, compared to a loss of 4.39 million yuan in the same period last year [3]. Group 3: Initial Public Offering and Fundraising - Jiuri New Materials was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on November 5, 2019, issuing 27.81 million shares at a price of 66.68 yuan per share, raising a total of approximately 1.854 billion yuan [3]. - The net proceeds from the IPO amounted to approximately 1.709 billion yuan, exceeding the original plan by 113.87 million yuan, intended for various projects including the construction of a production facility [3]. Group 4: Equity Distribution - The company announced a capital reserve distribution plan, where shareholders will receive 4.9 additional shares for every 10 shares held, with no cash dividends or bonus shares distributed [4].

Core Viewpoint - The article highlights the successful establishment of Quzhou Intelligent Manufacturing New City as a national-level green industrial park, focusing on its green circular development model and the integration of advanced industries to promote sustainable economic growth [1][9]. Group 1: Green Development Initiatives - Quzhou Intelligent Manufacturing New City has been recognized for its commitment to green development, focusing on industries such as new materials, renewable energy, integrated circuits, high-end equipment, and health [1]. - The city has implemented a comprehensive upgrade of production processes to reduce energy consumption and environmental pollution, exemplified by Yuanli Metal Products Co., which has invested over 2 billion yuan in technology upgrades and achieved a 42.3% reduction in major pollutant emissions by 2024 [2][6]. - The city has established a robust support system for enterprises undergoing green transformation, providing policy incentives and funding opportunities to encourage energy-saving and carbon-reduction projects [6][7]. Group 2: Economic Performance - In 2024, Quzhou Intelligent Manufacturing New City achieved an industrial output value of 162.88 billion yuan, with an industrial added value of 36.82 billion yuan, reflecting a growth of 12.1% [9]. - The city attracted 100 projects with a total investment of 89.91 billion yuan, showcasing its growing investment appeal and economic vitality [9]. Group 3: Circular Economy and Resource Utilization - The city has developed a circular economy model, where waste from upstream enterprises is repurposed as raw materials for downstream companies, enhancing resource efficiency [12][13]. - Quzhou Intelligent Manufacturing New City has constructed over 40 kilometers of pipelines connecting more than 100 enterprises, achieving a high degree of interconnectivity and resource sharing within the industrial ecosystem [13][14]. - The industrial solid waste utilization rate in the high-tech zone has reached 99%, demonstrating the effectiveness of the circular economy initiatives [13]. Group 4: Infrastructure and Environmental Safety - The city has invested over 20 million yuan in a water pollution emergency response system, enhancing environmental safety measures within the industrial park [16]. - Quzhou Intelligent Manufacturing New City has achieved a 100% coverage rate for industrial wastewater management, ensuring that all enterprises comply with environmental standards [16][17]. - The establishment of a comprehensive ecological safety network, including green belts and river management, contributes to the overall sustainability of the industrial park [17][18].

Core Viewpoint - The invention of a new plant oil polyol structure and its manufacturing process has been awarded the Gold Prize at the 25th China Patent Awards, highlighting its potential to innovate the bio-based polyurethane industry and reduce reliance on petrochemical resources [2] Group 1: Innovation and Technology - The project developed an efficient manufacturing process for plant oil polyols, enabling the production of bio-based polyurethane materials at a scale of tens of thousands of tons [2] - The traditional petrochemical-based polyurethane industry faces challenges due to high dependency on imported high-end products and rising costs, which the new bio-based polyols aim to address [2][3] - The team utilized microchemical and process amplification technologies to enhance reaction selectivity and efficiency, allowing for precise construction of desired structures [2][3] Group 2: Market Applications and Impact - The bio-based polyurethane products are expected to fill the market gap for high-performance polyols, which are currently not met by existing products [2] - The technology has led to the establishment of a production line with an annual capacity of 50,000 tons of bio-based polyurethane polyols, covering a total of 150,000 tons of bio-based polyurethane products [3] - These products have diverse applications in tunnel construction, engineering anti-corrosion, building materials adhesives, electronic potting, and healthcare [3]