Group 1: Company Performance Overview - In Q1 2025, the company achieved revenue of approximately 7.29 billion CNY, representing a year-on-year increase of 7.96% [1] - The net profit attributable to shareholders was approximately 413 million CNY, a year-on-year decrease of 27.3% [2] - The net profit excluding non-recurring gains and losses was about 384 million CNY, down 33.81% year-on-year, primarily due to a decline in chemical product prices [2] Group 2: Market and Operational Adjustments - The company is actively adjusting production and sales strategies in response to market demand fluctuations and changes in oil prices [2] - The company emphasizes energy conservation and efficiency improvements to mitigate market risks and maximize economic benefits [1] Group 3: Dividend Policy - The profit distribution plan for 2024 proposes a cash dividend of 3.50 CNY per 10 shares (tax included), which has already been implemented [2] - Future dividend plans will consider operational performance, cash flow, and shareholder returns, adhering to regulatory requirements [2] Group 4: Competition and Market Strategy - The company signed a framework cooperation agreement with a subsidiary of Haohua Technology to address competition issues related to certain products [2] - The company will continue to monitor market trends and adjust strategies to maintain production and sales balance [2]

Report Industry Investment Rating - Not provided Core Viewpoints of the Report - The supply of industrial silicon will remain loose as large manufacturers in the southwest may start production due to lower electricity prices, small and medium - sized enterprises have limited restart plans, and the Xinjiang Yili region in the northwest will continue to receive electricity subsidies. The overall demand from the three major downstream industries for industrial silicon is slowing down. It is recommended to adopt a high - short strategy for the medium - to long - term [2] Summary by Relevant Catalogs Futures Market - The closing price of the main contract is 7,485 yuan/ton, up 65 yuan; the main contract position is 293,427 lots, down 9,692 lots; the net position of the top 20 is - 48,542 lots, down 347 lots; the Guangzhou Futures Exchange warehouse receipt is 53,570 lots, down 614 lots; the price difference between the July - August contracts is 15 yuan, up 5 yuan [2] Spot Market - The average price of oxygen - passing 553 silicon is 8,150 yuan/ton, unchanged; the average price of 421 silicon is 8,700 yuan/ton, unchanged; the basis of the Si main contract is 665 yuan/ton, down 65 yuan; the DMC spot price is 10,620 yuan/ton, unchanged [2] Upstream Situation - The average price of silica is 410 yuan/ton, unchanged; the average price of petroleum coke is 1,610 yuan/ton, unchanged; the average price of clean coal is 1,850 yuan/ton, unchanged; the average price of wood chips is 540 yuan/ton; the ex - factory price of graphite electrodes (400mm) is 12,250 yuan/ton, unchanged [2] Industry Situation - The monthly output of industrial silicon is 299,700 tons, down 36,050 tons; the weekly social inventory of industrial silicon is 559,000 tons, down 13,000 tons; the monthly import volume of industrial silicon is 2,211.36 tons, up 71.51 tons; the monthly export volume of industrial silicon is 52,919.65 tons, down 12,197.89 tons [2] Downstream Situation - The weekly output of silicone DMC is 45,000 tons, up 1,400 tons; the average price of aluminum alloy ADC12 in the Yangtze River spot is 20,100 yuan/ton, down 100 yuan; the weekly average price of photovoltaic - grade polysilicon is 4.25 US dollars/kg, down 0.03 US dollars/kg; the overseas market price of photovoltaic - grade polysilicon is 15.75 US dollars/kg, unchanged; the monthly export volume of unforged aluminum alloy is 24,179.3 tons; the weekly operating rate of silicone DMC is 68.4%, up 2.12 percentage points; the monthly output of aluminum alloy is 1.645 million tons, up 117,000 tons; the monthly export volume of aluminum alloy is 20,187.85 tons, down 337.93 tons [2] Industry News - Luxi Chemical announced on June 19 that its subsidiary signed a "Fluorine Product Framework Cooperation Agreement" with Sinochem Lantian Group Trading Co., Ltd., a subsidiary of Haohua Technology, to solve the issue of同业 competition in difluoromethane. The Ministry of Industry and Information Technology focuses on key industries such as clean and low - carbon hydrogen, new energy storage, and green intelligent computing [2]

Core Viewpoint - The company, Luxi Chemical (000830), is actively managing its production and sales in response to market conditions, while also addressing safety and operational efficiency concerns. The company reported a mixed performance in Q1 2025, with revenue growth but a decline in net profit due to market price fluctuations. Group 1: Production and Operations - The overall production and operational situation of the company is stable, with enhanced safety management measures in place to address seasonal challenges and external safety conditions [2] - The company is focusing on energy conservation, quality improvement, and maximizing economic benefits by adjusting production, sales, and procurement in response to market changes [2] Group 2: Financial Performance - In Q1 2025, the company achieved a revenue of approximately 7.29 billion yuan, representing a year-on-year increase of 7.96%. However, the net profit attributable to shareholders was about 413 million yuan, a decrease of 27.3% year-on-year [3][7] - The net profit excluding non-recurring gains and losses was approximately 384 million yuan, down 33.81% year-on-year, primarily due to a decline in the prices of certain chemical products, which fell more than the decrease in raw material costs [3][7] Group 3: Market Outlook and Strategy - The company anticipates that the market prices of chemical products will fluctuate due to various factors, making predictions challenging. It plans to adjust its strategies in line with market changes to mitigate risks and enhance cost management [6] - The company has signed a framework cooperation agreement with Sinochem Blue Sky to address competition issues related to certain products, indicating a strategic move to streamline operations and enhance market positioning [5] Group 4: Dividend Policy - The company has proposed a cash dividend of 3.50 yuan per 10 shares for the 2024 fiscal year, which has already been implemented. Future dividend policies will be determined based on profitability, cash flow, and regulatory requirements [4] Group 5: Analyst Ratings and Predictions - Over the past 90 days, six institutions have provided ratings for the stock, with five recommending a buy and one recommending an increase. The average target price set by analysts is 13.34 yuan [8] - Detailed profit forecasts for 2025 to 2027 indicate varying net profit estimates from different institutions, reflecting a range of expectations for the company's financial performance in the coming years [9]

Group 1: Company Performance Overview - The overall production and operation of the company are normal, with enhanced safety management measures in place due to external safety production conditions and seasonal characteristics [1] - In Q1 2025, the company achieved revenue of approximately 7.29 billion yuan, a year-on-year increase of 7.96% [1] - The net profit attributable to shareholders was approximately 413 million yuan, a year-on-year decrease of 27.3% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately 384 million yuan, a year-on-year decrease of 33.81% [1] Group 2: Market Conditions and Adjustments - In Q2 2025, product prices varied due to factors such as peer enterprise operating rates, upstream and downstream demand changes, and fluctuations in oil prices [2] - The company adjusts its product prices in response to market conditions, ensuring transparency through online sales on the Lushi Mall [2] Group 3: Dividend Policy - The profit distribution plan for 2024 proposes a cash dividend of 3.50 yuan (including tax) for every 10 shares, based on the total share capital at the end of 2024 [2] - The company will adhere to regulatory requirements while determining the dividend plan, balancing profitability and operational funding needs [2] Group 4: Strategic Partnerships - The company's subsidiary signed a framework cooperation agreement with Sinochem Blue Sky to address competition issues with Haohua Technology regarding certain fluorinated products [2] - The agreement aims to resolve competition issues and involves the sale of products through Sinochem Blue Sky [2] Group 5: Market Outlook - The market price of chemical products is influenced by various factors, making it difficult to predict future trends [2] - The company will closely monitor market changes, adjust strategies accordingly, and enhance cost management to seize market opportunities [2]

Group 1: Company Performance Overview - The company achieved an operating revenue of approximately 7.29 billion yuan in Q1 2025, representing a year-on-year increase of 7.96% [1] - The net profit attributable to shareholders was approximately 413 million yuan, a year-on-year decrease of 27.3% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately 384 million yuan, down 33.81% year-on-year, primarily due to a decline in chemical product prices exceeding the decrease in raw material procurement costs [1] Group 2: Dividend Policy - The profit distribution plan for 2024 proposes a cash dividend of 3.50 yuan (including tax) for every 10 shares based on the total share capital at the end of 2024 [2] - The company will determine future dividend plans in accordance with regulatory requirements and factors such as profitability and operational capital needs [2] Group 3: Strategic Partnerships - A subsidiary signed a framework cooperation agreement with Sinochem Blue Sky to address competition issues related to the production of difluoromethane [2] - The agreement aims to resolve competition concerns and involves the subsidiary producing difluoromethane while entrusting sales to Sinochem Blue Sky [2] Group 4: Market Outlook - The market price of chemical products is influenced by various factors, making it difficult to predict [2] - The company plans to closely monitor market changes, adjust strategies accordingly, and enhance cost management to seize market opportunities and maintain production-sales balance [2]

Group 1: Company Performance Overview - In Q1 2025, the company achieved revenue of approximately 7.29 billion CNY, representing a year-on-year increase of 7.96% [1] - The net profit attributable to shareholders was approximately 413 million CNY, a year-on-year decrease of 27.3% [2] - The net profit excluding non-recurring gains and losses was about 384 million CNY, down 33.81% year-on-year, primarily due to a decline in chemical product prices [2] Group 2: Market Response and Strategy - The company is actively implementing measures to ensure stable operations during the summer season, focusing on energy conservation and efficiency improvements [1] - To address market fluctuations, the company is adjusting production, sales, and procurement strategies in response to market demand [1] - The company aims to maximize economic benefits by leveraging its integrated park advantages and optimizing operations [1] Group 3: Dividend Policy and Future Plans - The proposed profit distribution plan for 2024 includes a cash dividend of 3.50 CNY per 10 shares (tax included), based on the total share capital at the end of 2024 [2] - The company will adhere to regulatory requirements and consider profitability and operational needs when determining future dividend plans [2] Group 4: Collaboration and Competition Management - The company signed a framework cooperation agreement with Sinochem Blue Sky to address competition issues related to the production of difluoromethane [2] - This agreement is part of a commitment made by China National Chemical Corporation to resolve competition concerns through asset restructuring and other means [2] Group 5: Operational Efficiency Initiatives - The company is focusing on maintaining safe and stable production while adjusting product output and structure to align with market trends [2] - Initiatives include benchmarking for improvement, enhancing lean production practices, and pursuing cost reduction strategies [2]