金圆股份51岁实控人离婚"净身出户" 妻子获市值4.2 亿股份被指转移资产 正取保候审的赵辉，试图通过离婚，将上市公司资产全部转移至妻子名下。 3月22日，金圆股份（000546）（000546.SZ）公告，公司获悉赵辉和潘颖已通过协议离婚方式办理 解除婚姻关系手续，赵辉所持金圆股份的股份全部过户至潘颖名下，堪称"净身出户"。 截至3月21日收盘，金圆股份股价达4.96元/股。由此，潘颖此次获得的股份市值达4.24亿元。 一位资产管理师向长江商报记者表示，"赵辉离婚明显是在转移资产，将对公司治理结构、股价稳 定及投资者权益产生深远影响??。" 业绩方面，近三年来，金圆股份扣非净利润持续亏损，累计将亏损超15.78亿元。 妻子潘颖获全部股份 3月22日，金圆股份发布公告显示，近日，上市公司收到公司实际控制人之一赵辉的通知，获悉赵 辉和潘颖已通过协议离婚方式办理解除婚姻关系手续，就股份分割等事宜做出相关安排。上述事项将导 致公司实际控制人及股东权益发生变动。 具体来看，本次权益变动前，金圆股份实际控制人赵璧生、赵辉父子通过直接和间接方式合计持有 公司3.02亿股股份，占公司总股本的38.85%。其中赵辉直接持有公 ...

3月21日，上市公司龙蟠科技在南京隆重举办首届LOPAL DAY 全球新技术发布会，现场发布 了 四代高压实磷酸铁锂正极材料、三代低电导率冷却液、二代燃料电池催化剂、一代磷酸铁锂 正极材料再生技术等 四项全球前沿新技术，引发行业广泛关注。 龙蟠科技石俊峰董事长在大会现场表示，通过将技术创新与商业模式创新结合，以创新重塑价 值，以创新开辟蓝海，龙蟠科技将有效地破除单一价格维度竞争的"内卷"，并且从单纯的材料 供应商转型为绿色能源生态的构建者。 这次发布会公布的四代高压实磷酸铁锂正极材料，将重新定义锂电池性能；三代低电导率冷却 液，将掀起电动时代的"热管理创新"；二代燃料电池催化剂，是氢能未来商业化破局的关键； 一代磷酸铁锂再生技术，将破解电池回收的行业难题，并引导行业的商业模式创新。 这四项技术成果，分别代表了龙蟠在电池材料、新能源汽车化学品、氢能核心材料和电池回收 领域内的最新技术进展，将对2025年中国乃至全球汽车行业的发展，带来重要的推进作用。 本次龙蟠科技推出的四代高压实磷酸铁锂产品， 压实密度大于2.6g/cm3 ，更为引人注目的一 大优势是采用了先进的一次烧结工艺，可以将高压实磷酸铁锂的生产效率大幅 ...

Investment Rating - The report maintains an "Overweight" rating for the organic silicon industry [5]. Core Viewpoints - The peak production period for organic silicon has passed, and companies are collaborating to reduce output, leading to a potential price recovery from the bottom [1]. - Domestic organic silicon DMC capacity increased from 1.515 million tons/year in 2019 to 3.44 million tons/year by 2024, with limited new capacity expected in the future [1]. - As of March 19, 2025, the average market price for organic silicon was 14,500 CNY/ton, reflecting an 11.5% increase since the beginning of the year, although profit margins remain negative [1]. - The demand for organic silicon is steadily growing, with a CAGR of approximately 10.7% from 2020 to 2024, driven primarily by the construction and electronics sectors [3]. - The report suggests that the limited new supply and increasing demand will likely stabilize and improve the pricing and profitability of organic silicon products [1][3]. Summary by Sections Section 1: Industry Overview - The organic silicon industry is experiencing a supply reduction due to increased maintenance and repairs among producers, with 182,000 tons of capacity under maintenance as of February 19, 2025 [2]. - The inventory levels of organic silicon DMC are stable, with a slight increase since September 2024, but still within the median range of the past three years [2]. Section 2: Demand and Applications - The apparent consumption of organic silicon DMC in China rose from 1.21 million tons in 2020 to 1.82 million tons in 2024, with significant growth in exports at a CAGR of 22.5% during the same period [3]. - Key application areas for organic silicon include construction and electronics, which account for 25% and 23% of consumption, respectively [3]. - The report highlights the potential for growth in high-end construction sealants and materials for photovoltaic and electric vehicle sectors, driven by policy support and technological advancements [3]. Section 3: Investment Recommendations - The report recommends focusing on companies in the organic silicon production sector such as Hoshine Silicon Industry, Xingfa Group, and New安股份, as well as application companies like Ruifeng New Materials and Silica宝科技 [3].

Investment Rating - The report maintains an "Overweight" rating for the oil and gas sector, particularly favoring the "three major oil companies" and oil service companies [5]. Core Views - The geopolitical risks in the Red Sea region have intensified, impacting oil supply concerns and potentially supporting oil prices due to increased geopolitical risk premiums [1]. - Global oil demand is expected to grow steadily, with IEA projecting an increase of 1.03 million barrels per day and OPEC forecasting a rise of 1.45 million barrels per day in 2025 [2]. - The oil service sector is expected to maintain high levels of activity, with global upstream capital expenditure projected to reach over $582.4 billion in 2025, a 5% increase year-on-year [3]. Summary by Sections Oil and Gas Sector - The Red Sea conflict has escalated, with significant military actions reported, which may lead to a decrease in oil supply and an increase in oil prices due to geopolitical risk premiums [1]. - The average breakeven price for new shale oil wells in the U.S. has risen to $64 per barrel, indicating a marginal cost for U.S. shale oil production [2]. Oil Service Sector - Global offshore exploration and development investment is expected to grow by 8.6% in 2024, while onshore investment is projected to decline by 7.9% [3]. - The average day rates for drilling rigs remain high, with self-elevating platforms at $102,400 per day and semi-submersible platforms at $226,000 per day [3]. Investment Recommendations - The report suggests focusing on undervalued, high-dividend, and well-performing companies in the oil and gas sector, including China National Petroleum, Sinopec, CNOOC, and oil service companies [4]. - It also highlights opportunities in domestic semiconductor materials and agricultural chemicals, recommending companies like Jingshui Electric Materials and Wanhua Chemical [4].

基础化工 | 证券研究报告 — 行业周报 2025 年 3 月 3 日 化工行业周报 20250302 国际油价小幅下跌，磷酸一铵、氯化钾价格上涨 3 月份建议关注：1、三四月份旺季可能涨价的品种，如农化、纺织化学用品、制冷剂等；2、年 报季报行情，如大型能源央企、轻烃裂解子行业龙头公司等；3、下游行业快速发展，建议关注 部分电子材料、新能源材料公司；4、宏观经济整体预期改善，行业龙头价值公司进入长期可配 置区间。 行业动态 投资建议 截至 3 月 2 日，SW 基础化工市盈率（TTM 剔除负值）为 21.50 倍，处在历史（2002 年至今） 的 56.77%分位数；市净率（MRQ）为 1.81 倍，处在历史水平的 11.96%分位数。SW 石油石 化市盈率（TTM 剔除负值）为 10.29 倍，处在历史（2002 年至今）的 9.28%分位数；市净率 （MRQ）为 1.21 倍，处在历史水平的 2.77%分位数。3 月份建议关注：1、三四月份旺季可 能涨价的品种，如农化、纺织化学用品、制冷剂等；2、年报季报行情，如大型能源央企、 轻烃裂解子行业龙头公司等；3、下游行业快速发展，建议关注部分电子材料、新能源 ...