"一区"即秸秆沃土高标准农田示范区，在平原农区有效衔接高标准农田建设、粮食单产提升、绿色种养 循环等项目，推广深耕、堆沤还田等技术，探索"地力加油站"模式，集成推广"秸—饲—肥、秸—沼— 肥、秸—菌—肥"等绿色低碳循环利用模式。 河南是全国重要的农业大省、粮食大省，常年产生农作物秸秆资源总量在1亿吨左右，居全国第二位。 近年来，我省深入践行习近平生态文明思想，紧扣农业农村减排固碳目标，锚定绿色循环农业发展方 向，秉持"政府主导、部门协同、疏堵并举、多元发展"工作理念，重点发展饲料化和肥料化利用，同时 积极拓宽燃料化、基料化和原料化等利用途径，有力有序推进全省秸秆综合利用持续稳定向好。 2024年，我省秸秆可收集资源量7896.18万吨，小麦、玉米、花生、水稻四类作物秸秆占比高达 96.48%；全省秸秆利用量7451.1万吨，综合利用率稳定在93%以上，其中肥料化、饲料化利用占比分别 为74.4%、21.3%，其他三化占比为4.3%。 聚焦"两高四着力"，我省将以秸秆"变肉""沃土"为核心，聚焦"地力加油站"模式创新、产业化项目落 地、收储体系完善三大关键任务，集聚智力、资源、资金等要素，试点先行，全力构建我省 ...

智通财经6月16日电，据中国贸易救济信息网消息，2025年6月13日，越南工贸部发布第1686/QD-BCT号 公告，对原产于泰国的蔗糖产品（越南语：đường mía，参考英语：Cane Sugar）启动反倾销和反补贴第 一次日落复审调查。2020年9月21日，越南对原产于泰国的蔗糖产品启动反倾销和反补贴调查。2021年6 月16日，越南对该案作出肯定性终裁，决定对泰国涉案产品征收42.99%的反倾销税和4.65%的反补贴 税，有效期为五年。2022年9月13日，越南对泰国涉案产品启动反倾销和反补贴第一次期中复审调查。 2023年8月8日，越南对泰国涉案产品作出反倾销和反补贴第一次期中复审终裁，决定将涉案产品的反倾 销税调整至25.73%～42.99%、反补贴税调整至0～4.65%。涉案产品包括精制糖和原糖，涉及越南税号 1701.13.00、1701.14.00、1701.91.00、1701.99.10、1701.99.90、1702.90.91项下的产品。 越南对泰国蔗糖产品启动双反日落复审调查 ...

近日，昆明克林轻工机械有限责任公司董事长刘长战接受新华财经记者专访，围绕"把一根甘蔗吃干榨 净"的资源综合利用、糖市供需格局以及智能装备如何赋能传统糖业等话题展开深入探讨。据介绍，克 林轻工是我国制糖装备领域的龙头企业，是能提供整厂设备的主要糖机装备制造企业，其产品出口越 南、缅甸、泰国、马里、埃塞俄比亚等二十多个国家。 刘长战表示，围绕"把一根甘蔗吃干榨净"的目标和发展循环经济的需求，克林轻工不断延伸产业链，不 断推出制糖新技术、新工艺、新设备，已实现甘蔗输送、破碎、压榨、提汁、煮炼、分蜜及干燥和包装 等工艺过程的全套设备生产和系统解决方案。"目前，从设备的制造、安装、调试到现场的自动化控 制，完全都是克林轻工自己的技术，没有任何'卡脖子'环节，任何情况下都能够保障我们的生产线不受 影响。" 新华财经记者：作为国内制糖装备制造的领军企业，企业如何帮助糖厂实现"吃干榨尽"这一目标？ 刘长战：甘蔗作为重要的经济作物，其全身都是宝。我们始终坚持"吃干榨净"的理念，通过技术创新实 现甘蔗资源的最大化利用。 在甘蔗汁提取环节，企业研发的高效压榨机采用多级压榨技术，抽出率很高，显著提升了糖厂的原料利 用率。对于榨汁后的 ...

改善逻辑持续兑现，有力打破悲观预期。对国内增速的担忧导致近期市值有所回落，我们在前期报告中 多次强调，海外已成为公司增长的核心引擎，产能扩张保障未来几年营收双位数稳增，而盈利端受益于 成本红利与折旧减轻，未来2 年改善周期确定性仍足。25Q1 海外营收仍维持20%+高增，且成本红利有 效对冲折旧摊销增加，毛利率扩张幅度仍在加大，经营改善逻辑仍持续兑现，有力打破悲观预期。此 外，25 年初公司将国内销售组织按市场领域划分为烘焙面食、福邦农业、食品与发酵工业三大板块， 虽短期磨合使得1-2 月国内销售承压，但中长期将利于业务协同推广与费效比提升，25Q1 食品原料业 务贡献加速已在印证，未来营收扩张工具箱充足。 投资建议：Q1 打破悲观预期，周期弹性与成长空间兼具，估值低位重申"强推"评级。25-26 年成本红利 兑现先行、转固压力减轻接力，改善周期确定性充足，25Q1 改善逻辑已超预期兑现，我们维持25-27 年EPS 预测1.75/2.16/2.51元，对应PE 为19/16/13 倍。考虑公司稳步迈向全球第一，海外掘金加速下长期 投资逻辑不仅局限于"周期弹性"，更在于"成长空间"，近期市值已不足300亿，估 ...

Core Insights - The company reported Q1 2025 results with revenue of 3.79 billion yuan, a year-on-year increase of 8.9%, and a net profit attributable to shareholders of 370 million yuan, up 16.0% year-on-year [1] Revenue Breakdown - In Q1 2025, overseas revenue continued to grow, with a quarter-on-quarter increase compared to Q4 2024 - By product: - Yeast and deep processing products generated revenue of 2.77 billion yuan, up 13.2% year-on-year - Sugar products generated revenue of 160 million yuan, down 60.7% year-on-year - Packaging products generated revenue of 100 million yuan, down 4.4% year-on-year - Food ingredients and other products generated revenue of 760 million yuan, up 44.1% year-on-year [2] - By region: - Domestic revenue was 2.10 billion yuan, down 0.3% year-on-year - Overseas revenue was 1.68 billion yuan, up 22.9% year-on-year, continuing the growth trend with improved quarter-on-quarter growth compared to Q4 2024 [2] Profitability and Cost Management - The company achieved a gross margin of 26.0%, an increase of 1.3 percentage points year-on-year, primarily due to a decrease in molasses costs - The selling, administrative, research and development, and financial expense ratios changed year-on-year as follows: - Selling expenses: +0.7 percentage points - Administrative expenses: -0.2 percentage points - Research and development expenses: -0.5 percentage points - Financial expenses: -0.5 percentage points, mainly due to increased foreign exchange gains - Asset impairment losses decreased by 0.5 percentage points year-on-year, mainly due to increased inventory write-downs - The net profit margin attributable to shareholders and the net profit margin excluding non-recurring items increased by 0.6 and 0.4 percentage points to 9.8% and 8.9%, respectively [2] Future Outlook - For 2025, the company expects overseas business growth to exceed 20%, continuing the previous growth trend - The overseas market still has significant growth potential, and with the expansion of overseas subsidiaries' production capacity, the company anticipates sustained growth - On the cost side, favorable raw material costs are expected to continue reflecting positively in the financial statements - Projected revenues for 2025-2027 are 16.89 billion, 18.67 billion, and 20.54 billion yuan, with year-on-year growth rates of 11.2%, 10.5%, and 10.0%, respectively - Projected net profits attributable to shareholders for 2025-2027 are 1.56 billion, 1.76 billion, and 1.91 billion yuan, with year-on-year growth rates of 17.7%, 13.1%, and 8.2%, respectively [3]

Group 1: 华盛锂电 - Company plans to invest in a project to produce 60,000 tons of vinyl carbonate annually, with the first phase targeting 30,000 tons [1] - Total investment for the project is approximately 950 million yuan, funded by the company's own or raised funds [1][2] Group 2: 万里扬 - Shareholder plans to reduce holdings by up to 1.5% of the company's total shares, equating to a maximum of 19.69 million shares [3] - The reduction is due to the shareholder's own funding needs [3][4] Group 3: 云南旅游 - Company intends to raise no more than 191 million yuan through a private placement of up to 304 million shares [5] - Funds will be used for the construction of a cultural tourism equipment industrial park and to repay debts [5][6] Group 4: 冠农股份 - Company reported a 71.58% decline in net profit for 2024, amounting to 205 million yuan [9] - Revenue decreased by 11.15% to 3.863 billion yuan, with a proposed cash dividend of 0.8 yuan per 10 shares [9][10] Group 5: 华光新材 - Company achieved a 93.78% increase in net profit for 2024, totaling 80.6174 million yuan [11] - Revenue grew by 35.52% to 1.918 billion yuan, with a proposed cash dividend of 2.77 yuan per 10 shares [11][12] Group 6: 南大光电 - Company reported a 28.15% increase in net profit for 2024, reaching 271 million yuan [13] - Revenue increased by 38.08% to 2.352 billion yuan, with a proposed cash dividend of 1 yuan per 10 shares and a stock bonus of 2 shares for every 10 shares held [13][14] Group 7: 博瑞医药 - Company experienced a 6.57% decrease in net profit for 2024, amounting to 189 million yuan [15] - Revenue increased by 8.74% to 1.283 billion yuan, with a proposed cash dividend of 0.96 yuan per 10 shares [15][16] Group 8: 贵州茅台 - Company reported a 15.38% increase in net profit for 2024, totaling 862 million yuan [17] - Revenue grew by 15.71% to 170.9 billion yuan, with a proposed cash dividend of 276.24 yuan per 10 shares [17][18] Group 9: 西部建设 - Company reported a net loss of 263 million yuan for 2024, compared to a profit of 645 million yuan in 2023 [19] - Revenue decreased by 11.01% to 20.347 billion yuan, with a proposed cash dividend of 1.25 yuan per 10 shares [19][20] Group 10: 锡业股份 - Company achieved a 2.55% increase in net profit for 2024, totaling 1.444 billion yuan [21] - Revenue slightly decreased by 0.91% to 41.973 billion yuan, with a proposed cash dividend of 1.9 yuan per 10 shares [21][22] Group 11: 海天味业 - Company reported a 12.75% increase in net profit for 2024, amounting to 6.344 billion yuan [23] - Revenue increased by 9.53% to 26.901 billion yuan, with a proposed cash dividend of 8.6 yuan per 10 shares [23][24] Group 12: 台基股份 - Company experienced an 18.77% decrease in net profit for 2024, totaling 25.2935 million yuan [25] - Revenue increased by 10.76% to 354 million yuan, with a proposed cash dividend of 0.8 yuan per 10 shares [25][26] Group 13: 金盘科技 - Company reported a 13.82% increase in net profit for 2024, amounting to 574 million yuan [27] - Revenue grew by 3.5% to 6.901 billion yuan, with a proposed cash dividend of 5.06 yuan per 10 shares [27][28] Group 14: 中油资本 - Company reported an 8.14% decrease in net profit for 2024, totaling 4.652 billion yuan [29] - Revenue slightly increased by 0.08% to 39.024 billion yuan, with a proposed cash dividend of 0.57 yuan per 10 shares [29][30] Group 15: 锐捷网络 - Company achieved a 43.09% increase in net profit for 2024, amounting to 574 million yuan [31] - Revenue increased by 1.36% to 11.699 billion yuan, with a proposed cash dividend of 6.06 yuan per 10 shares and a stock bonus of 4 shares for every 10 shares held [31][32] Group 16: 华瓷股份 - Company reported a 14.21% increase in net profit for 2024, totaling 205 million yuan [33] - Revenue grew by 8.79% to 1.34 billion yuan, with a proposed cash dividend of 4 yuan per 10 shares [33][34] Group 17: 金龙羽 - Company experienced a 14.14% decrease in net profit for 2024, amounting to 14 million yuan [35] - Revenue decreased by 6.53% to 3.675 billion yuan, with a proposed cash dividend of 3 yuan per 10 shares [35][36] Group 18: 恒帅股份 - Company reported a 5.75% increase in net profit for 2024, totaling 214 million yuan [37] - Revenue increased by 4.21% to 962 million yuan, with a proposed cash dividend of 4 yuan per 10 shares and a stock bonus of 4 shares for every 10 shares held [37][38] Group 19: 爱玛科技 - Company expects a 25.12% increase in net profit for the first quarter of 2025, amounting to 605 million yuan [39] - Main business includes the development, production, and sales of electric bicycles and motorcycles [39][40] Group 20: 西王食品 - Company reported a net loss of 444 million yuan for 2024, compared to a loss of 16.8658 million yuan in 2023 [41] - Revenue decreased by 9.43% to 4.972 billion yuan [41][42]