证券时报·数据宝统计显示，一诺威今日收盘价为14.84元，下跌0.27%，日换手率为0.49%，成交额为 1233.83万元，近5日该股累计下跌0.34%。 据天眼查APP显示，山东一诺威聚氨酯股份有限公司成立于2003年12月03日，注册资本29113.2748万人 民币。（数据宝） 一诺威（920261）11月28日大宗交易平台出现一笔成交，成交量10.00万股，成交金额104.20万元，大宗 交易成交价为10.42元，相对今日收盘价折价29.78%。该笔交易的买方营业部为中泰证券股份有限公司 淄博中润大道证券营业部，卖方营业部为东吴证券股份有限公司济南海右路证券营业部。 进一步统计，近1个月内该股累计发生5笔大宗交易，合计成交金额为580.07万元。 | 成交量 | 成交金额 | 成交价格 | 相对当日收 盘价折溢价 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | | （万股） | （万元） | （元） | （%） | | | | 10.00 | 104.20 | 10.42 | -29.78 | 中泰证券股份有限公司 淄博中润大道证券营业 ...

关于本次募投新增12.5万吨聚酯多元醇和18万吨聚氨酯新材料产能的合理性，公司表示，聚氨酯行业市 场空间广阔，2024年国内市场规模达2,021亿元，汽车内饰、体育用品等领域需求快速增长。公司现有 革用聚氨酯产能利用率为74.76%、聚酯多元醇产能利用率近85%，均高于行业水平，存在明确产能缺 口。此外，公司已积累世联集团等稳定客户，正拓展国内新能源车企及华北、华中区域市场；新产品共 聚酯与醇解改性多元醇已完成中试，具备充分产能消化支撑。公司现有产能利用率已处于较高水平 （2024年革用聚氨酯产能利用率为74.76%），且产销率接近100%。 南方财经11月26日电，汇得科技2025年度向特定对象发行A股股票遭上交所问询，核心围绕前次募投效 益不及预期原因、本次30.5万吨聚氨酯新材料项目新增产能合理性两大关键问题。 针对前次"年产18万吨聚氨酯树脂及其改性体项目"效益未达预期，公司回应称，核心原因是TPU市场竞 争加剧，行业头部企业扩产导致"以价换量"，公司主动暂缓3.5万吨TPU产能建设；同时福建厂区采取 差异化战略，产品以通用化为主，定价更审慎，毛利率低于上海金山厂区的定制化高附加值产品，双重 因素导致 ...

进一步统计，近1个月内该股累计发生4笔大宗交易，合计成交金额为475.87万元。 （文章来源：证券时报网） 证券时报·数据宝统计显示，一诺威今日收盘价为15.49元，下跌0.32%，日换手率为1.18%，成交额为 3122.90万元，近5日该股累计下跌4.79%。 11月19日一诺威大宗交易一览 一诺威（920261）11月19日大宗交易平台出现一笔成交，成交量10.00万股，成交金额108.80万元，大宗 交易成交价为10.88元，相对今日收盘价折价29.76%。该笔交易的买方营业部为中泰证券股份有限公司 淄博中润大道证券营业部，卖方营业部为东吴证券股份有限公司济南海右路证券营业部。 | 相对当日收 | 成交量 | 成交金额 | 成交价格 | 盘价折溢价 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | | （万股） | （万元） | （元） | （%） | | | | | 中泰证券股份有限公司 | 东吴证券股份有限公司 | 10.00 | 108.80 | 10.88 | -29.76 | 淄博中润大道证券营业 | | 济南海右路证 ...

本周（2025/11/10-2025/11/14）化工板块整体涨跌幅表现排名第9位，涨跌幅为2.61%，走势处于市场整 体中上游。上证综指涨跌幅为-0.18%，创业板指涨跌幅为-3.01%，申万化工板块跑赢上证综指2.79个百 分点，跑赢创业板指5.62个百分点。 华安证券近日发布基础化工行业周报：本周（2025/11/10-2025/11/14）化工板块整体涨跌幅表现排名第9 位，涨跌幅为2.61%，走势处于市场整体中上游。上证综指涨跌幅为-0.18%，创业板指涨跌幅 为-3.01%，申万化工板块跑赢上证综指2.79个百分点，跑赢创业板指5.62个百分点。 以下为研究报告摘要： 主要观点： 行业周观点 2025年化工行业景气度将延续分化趋势，推荐关注合成生物学、农药、层析介质、代糖、维生素、轻烃 化工、COC聚合物、MDI等行业: （1）合成生物学奇点时刻到来。能源结构调整大背景下，化石基材料或在局部面临颠覆性冲击，低耗 能的产品或产业有望获得更长成长窗口。对于传统化工企业而言，未来的竞争在于能耗和碳税的成本， 优秀的传统化工企业会利用绿色能源代替方案、一体化和规模化优势来降低能耗成本，亦或新增产能转 移至 ...

每经AI快讯，汇得科技（SH 603192，收盘价：24.8元）11月17日晚间发布公告称，公司第四届第六次 董事会会议于2025年11月17日在公司会议室以现场与通讯相结合方式召开。会议审议了《关于公司2024 年限制性股票激励计划首次授予部分第一个解除限售期解除限售条件成就的议案》等文件。 2024年1至12月份，汇得科技的营业收入构成为：聚氨酯占比92.31%，其他业务占比4.42%，新能源制 件占比3.27%。 截至发稿，汇得科技市值为35亿元。 每经头条（nbdtoutiao）——展望"十五五" | 专访尹艳林：让有钱且愿消费的人顺利消费；个税起征点可 提高，最高边际税率可下调，让有关群体少缴税、多收入 （记者 曾健辉） ...

一诺威（920261）11月13日大宗交易平台出现一笔成交，成交量13.00万股，成交金额148.07万元，大宗 交易成交价为11.39元，相对今日收盘价折价33.27%。该笔交易的买方营业部为国泰海通证券股份有限 公司山东淄博桓台东岳路营业部，卖方营业部为东吴证券股份有限公司济南海右路证券营业部。 | 成交量 | 成交金额 | 成交价格 | 相对当日收 盘价折溢价 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | | （万股） | （万元） | （元） | （%） | | | | | | | | 国泰海通证券股份有限公 | 东吴证券股份有限公 | | 13.00 | 148.07 | 11.39 | -33.27 | 司山东淄博桓台东岳路营 | 司济南海右路证券营 | | | | | | 业部 | 业部 | （文章来源：证券时报网） 据天眼查APP显示，山东一诺威聚氨酯股份有限公司成立于2003年12月03日，注册资本29113.2748万人 民币。（数据宝） 11月13日一诺威大宗交易一览 进一步统计，近1个月内该股累计发生3笔大宗交易，合计成 ...

Core Viewpoint - The report from CITIC Construction Investment suggests focusing on sectors that are expected to benefit from the "anti-involution" trend, as the chemical industry faces a slowdown in capital expenditure and an approaching cyclical turning point [1] Group 1: Beneficial Sectors - Recommended sectors include pesticides, urea, soda ash, filament, organic silicon, and spandex, which are likely to benefit from the "anti-involution" trend [1] - In the context of a declining interest rate cycle, China's counter-cyclical policies are expected to boost domestic demand, making sectors like polyurethane, coal chemical, petroleum chemical, and fluorochemical attractive [1] Group 2: New Material Development - The development of new productive forces, self-control, and industrial upgrading are emphasized as key strategies in the context of major power competition, with new materials being a primary development direction for China's chemical industry [1] - Focus areas include semiconductor materials, OLED materials, COC materials, and other high value-added products [1] Group 3: High Shareholder Returns - High-quality companies with substantial shareholder returns are expected to continue their revaluation journey, particularly state-owned enterprises in the oil and gas petrochemical sector, coal chemical, compound fertilizer, phosphorus chemical, and leading companies in the MSG/feed amino acid industry [1]

Core Viewpoint - The report from CITIC Construction Investment suggests focusing on specific sectors within the chemical industry that are expected to benefit from the "anti-involution" trend and the upcoming economic cycle shift, while also highlighting the importance of new material development in the context of national competition [1] Group 1: Investment Recommendations - Attention is recommended for sectors such as pesticides, urea, soda ash, long fibers, organic silicon, and spandex, which are likely to benefit from the "anti-involution" trend [1] - In the context of a declining interest rate cycle, sectors like polyurethane, coal chemical, petroleum chemical, and fluorochemical are suggested for investment as they may help stimulate domestic demand [1] Group 2: Development Focus - The report emphasizes the development of new productive forces, self-sufficiency, and industrial upgrades as key strategies in the context of major power competition, with new materials being a primary focus for the Chinese chemical industry [1] - Specific attention is drawn to the continuous development of semiconductor materials, OLED materials, COC materials, and other high value-added products [1] Group 3: Quality Enterprises - High shareholder returns from quality enterprises are expected to continue their revaluation journey, with a focus on leading state-owned enterprises in oil and gas, coal chemical, compound fertilizer, phosphorus chemical, and amino acid industries for feed and flavoring [1]

Core Viewpoint - The company, Yinuowei, has established a strong competitive advantage in the polyurethane sector over the past 20 years, particularly after its listing on the Beijing Stock Exchange, which has enhanced its credibility and market position [1][2]. Development Advantages - Yinuowei has become a benchmark enterprise in the chemical industry, recognized as a national high-tech enterprise and a key player in various national programs [2]. - The company has a diverse product matrix, including various types of polyurethane elastomers and high-end surfactants, with applications across multiple industries such as construction, textiles, and healthcare [2]. - Yinuowei benefits from its location in Zibo, a major chemical hub, allowing it to access raw materials efficiently and maintain competitive advantages in cost and safety [2][3]. Product Competitiveness - The company’s polyurethane prepolymers hold the title of national manufacturing champion, with a leading global market share due to high production efficiency and advanced technology [3]. - In the first three quarters of the year, Yinuowei achieved revenue of 5.577 billion yuan, a year-on-year increase of 10.04%, and a net profit of 164 million yuan, up 46.12% [3]. Innovation Empowerment - Yinuowei emphasizes technological innovation as a core strategy, focusing on high-value-added products and aligning with market demands [4]. - The company is actively enhancing its R&D capabilities, with over 50% of its workforce holding a bachelor's degree or higher, and plans to recruit 250 to 300 new graduates [4][5]. Market Outlook - The polyurethane industry is expected to grow significantly due to its versatility and applications in emerging sectors like electric vehicles and green construction [6]. - Yinuowei is expanding its international presence, with operations in Southeast Asia, the Middle East, and Europe, aiming to increase its overseas market share [6].

Investment Rating - The report maintains a "Positive" investment rating for the chemical industry [11] Core Insights - The chemical industry achieved a revenue of 1,947.86 billion yuan in Q1-Q3 2025, representing a year-on-year growth of 2.1%, while net profit attributable to shareholders was 115.78 billion yuan, up 4.4% year-on-year [2][18] - In Q1-Q3 2025, 50.0% of the 30 chemical sub-industries reported year-on-year growth, increasing to 56.7% in Q3 2025 [2][28] - The report highlights a gradual recovery in the industry, with capital expenditures declining by 16.9% and 2.7% in 2024 and 2025 respectively, indicating a slowdown in expansion cycles [2][18] Summary by Sections Overall Operations - The chemical industry experienced a slight revenue increase with a profit growth rate surpassing revenue growth [18] - The gross profit margin for the industry was 16.8%, a year-on-year increase of 0.2 percentage points [18] - The report notes a continued downturn in the domestic real estate market and a slow recovery in consumption [2][18] Key Sub-Industries - **Fluorochemical**: Revenue reached 32.53 billion yuan in Q1-Q3 2025, with a year-on-year increase of 19.7% and net profit up 155.6% [9][41] - **Phosphate Chemical**: Revenue was 82.38 billion yuan, down 4.0% year-on-year, but net profit increased by 8.0% to 7.55 billion yuan [49][50] - **Potash Fertilizer**: Revenue grew by 13.1% to 20.77 billion yuan, with net profit rising 57.6% to 9.44 billion yuan [9] - **Pesticides**: Revenue reached 124.65 billion yuan, up 5.6%, with net profit increasing by 131.2% to 6.38 billion yuan [9] - **Soda Ash**: Revenue fell by 15.7% to 30.16 billion yuan, with net profit down 71.5% to 0.99 billion yuan [9] - **Polyurethane**: Revenue decreased by 1.9% to 163.35 billion yuan, with net profit down 16.5% to 9.51 billion yuan [9] - **Titanium Dioxide**: Revenue was 32.92 billion yuan, down 4.2%, with net profit down 46.3% to 1.74 billion yuan [9] - **Polyester Filament**: Revenue decreased by 5.0% to 118.94 billion yuan, but net profit increased by 38.0% to 2.42 billion yuan [9] - **Additives**: Revenue grew by 3.8% to 89.06 billion yuan, with net profit up 30.0% to 12.35 billion yuan [9] - **Civil Explosives**: Revenue increased by 16.6% to 48.83 billion yuan, with net profit up 8.2% to 3.60 billion yuan [9] - **Tires**: Revenue grew by 10.7% to 119.98 billion yuan, but net profit decreased by 17.3% to 9.89 billion yuan [9] - **Electronic Chemicals**: Revenue reached 52.97 billion yuan, up 13.1%, with net profit increasing by 22.4% to 6.05 billion yuan [9] Investment Recommendations - The report suggests actively positioning in the chemical sector, highlighting cyclical recovery and potential growth in various sub-industries [10][39]