| | 特定对象调研 分析师会议 | | --- | --- | | 投资者关系 | 媒体采访 业绩说明会 | | 活动类别 | 新闻发布会 路演活动 | | | 现场参观 | | | 其他 （请文字说明其他活动内容） 申万宏源证券、中邮证券、国海证券、天风证券、长江证券、 | | | 易方达基金、嘉实基金、国泰基金、广发基金、永赢基金、 | | | 南方基金、摩根士丹利基金、国寿安保基金、招商基金、浙 | | 参与单位名称 | 商基金、兴银基金、长盛基金、万家基金、平安基金、华商 | | | 基金、融通基金、新华基金、中庚基金、大成基金、海富通 | | 及人员姓名 | 基金、华泰保兴基金、招银理财、太平养老保险、平安资管、 | | | 东方证券、中汇人寿、长江养老保险、真科基金、诚旸投资、 | | | 复霈投资、中欧瑞博资本、君榕资产、康曼德资本、喜世润 | | | （以上排名不分先后） | | 时间 | 年 月 2026 1 7 日，14：00—17：30 | | | 2026 年 1 月 8 日，10：00—17：30 | | 地点 | 公司会议室 | | 上 市 公 司 接 | 董事会 ...

在近日于北京举行的第42届京津沪渝四市化工工会工作交流会上，一批扎根于生产一线的创新工作室介 绍了他们以创新实践驱动企业发展的经验与成效。从渤海之滨到山城重庆，从上海制造到首都车间，以 劳模工匠命名的创新工作室，已经成为企业破解"卡脖子"难题的"先锋站"、高技能人才成长的"孵化 器"、工匠文化的"传承场"，勾勒出新时代劳模工匠扎根企业一线、服务社会发展的精神风貌。 技术突破的"先锋站" 创新工作室的首要任务是解决生产过程的难点，充当解决关键技术和工艺难题的"尖刀连"。这种攻坚， 既体现为对既有生产效能的优化，也体现在对前沿技术领域的开拓。 优化现有工艺，实现降本增效。天津长芦汉沽盐场有限责任公司"女工创新工作室"的吕双双，从一线化 验工做起，通过观察总结出"三看、快慢反变"的测定方法，解决了双氧水不稳定的问题，实现了增产提 质降耗。双钱轮胎集团有限公司的黄红雄国家级技能大师工作室，面对进口钢丝压延机的产能瓶颈，通 过深入研究与参数调整，将设备压延速度提升17%，生产效率提高25%，相当于节省了超4000万元的固 定资产投资。北京市化学工业研究院有限责任公司的唐治中宁波华腾首研配色工作室，围绕环保材料应 用与个 ...

Core Viewpoint - Huatai announced a tax payment of 48.89 million yuan, including 39.98 million yuan in taxes and 8.91 million yuan in late fees, which will impact the company's 2025 net profit [1][2] Financial Impact - The tax payment and late fees have been fully paid and will be recorded in the 2025 financial results, affecting the net profit directly [2] - In the first three quarters of 2025, Huatai reported a revenue of 1.522 billion yuan, a year-on-year increase of 26.07%, but a net profit of 21.98 million yuan, a decline of 72.61% [3] - The third quarter alone saw a net loss of 7.34 million yuan, marking a significant downturn compared to previous periods [3] Reasons for Profit Decline - The decline in net profit is attributed to two main factors: increased sales revenue due to market expansion and service optimization, but lower product prices leading to reduced gross margins [3] - Additionally, the accelerated depreciation from the "synthetic ammonia energy-saving and environmental upgrade project" has significantly impacted profit levels [3] Operational Strategy - The company plans to enhance cost control, optimize production processes, and improve operational efficiency to address the current challenges [4] - Huatai is extending its industrial chain and optimizing its product structure, with recent projects including a 20,000-ton aniline production project and a 1.153 billion yuan investment in a carbon dioxide comprehensive utilization project [4] - The new projects aim to produce aniline series products and amino resin, which have broad market applications, particularly in the coatings sector [4]

格隆汇12月30日丨怡达股份(300721.SZ)在互动平台表示，公司主要产品有醇醚及醇醚酯系列产品、湿 电子化学品、环氧丙烷、双氧水、蒽醌、四丁基脲、活性氧化铝、汽车制动液等，未有废电路板相关业 务。 ...

证券日报网讯 12月29日，齐翔腾达（002408）在互动平台回答投资者提问时表示，公司生产的甲乙 酮、无水叔丁醇、异丙醇及双氧水等产品，已在普通电子清洗领域得到广泛应用。经过进一步的提纯处 理和杂质去除工艺，上述产品可实现半导体清洗等高端领域的应用。公司将持续依托现有产品体系，不 断夯实主打产品龙头地位，通过提升产品品质，积极开展高端新应用场景的开发。 ...

格隆汇12月29日丨齐翔腾达(002408.SZ)在互动平台表示，公司生产的甲乙酮、无水叔丁醇、异丙醇及 双氧水等产品，已在普通电子清洗领域得到广泛应用。经过进一步的提纯处理和杂质去除工艺，上述产 品可实现半导体清洗等高端领域的应用。我们将持续依托现有产品体系，不断夯实主打产品龙头地位， 通过提升产品品质，积极开展高端新应用场景的开发。 ...

Market Performance - The basic chemical index decreased by 2.19% from December 6 to December 12, while the CSI 300 index fell by only 0.08%, indicating that the basic chemical sector underperformed the CSI 300 by 2.12 percentage points, ranking 26th among all sectors [1][2] - The top-performing sub-industries included rubber additives (4.50%), adhesives and tapes (2.95%), non-metallic materials III (1.04%), synthetic resins (0.68%), and other rubber products (0.37%) [1][2] Chemical Price Trends - The top five products with the highest weekly price increases were hydrogen peroxide (14.67%), R125 (13.33%), hydrochloric acid (Shandong) (12.50%), domestic vitamin E (8.33%), and raw salt (5.77%) [3] - The top five products with the largest weekly price declines were liquid chlorine (-33.33%), NYMEX natural gas (-22.31%), R22 (-13.89%), hydrochloric acid (Jiangsu) (-12.50%), and R134a (-8.33%) [3] Industry Dynamics - The Ministry of Ecology and Environment announced the issuance of production, use, and import quotas for ozone-depleting substances and hydrofluorocarbons (HFCs) for 2026, with a total production quota of 797,800 tons, a slight increase of 5,963 tons from 2025 [4] - The production quotas for R134a, R245fa, R32, and R125 will increase by 3,272, 2,918, 1,171, and 351 tons respectively, while R143 and R227ea will see reductions of 1,255 and 517 tons [4] - The high demand for third-generation refrigerants is expected to continue, with prices remaining elevated; as of December 12, the market prices for R32, R125, and R134a in East China were 63,300, 45,000, and 57,500 yuan per ton, respectively [4] - The production of air conditioners and automobiles in China showed growth, with cumulative production from January to October 2025 reaching 230 million units and 27.325 million vehicles, representing year-on-year increases of 3% and 11% respectively [4] Price Adjustments in the Industry - Several leading companies in the light stabilizer sector have announced price increases of approximately 10% to address long-standing issues of irrational price competition [5] - The price adjustments were initiated by major players such as Lianlong and followed by others like Suqian Liansheng and Tiangang Additives [5] Investment Recommendations - Focus on the refrigerant sector, as the supply-demand balance is expected to improve, with price levels likely to rise; recommended companies include Jinshi Resources, Juhua Co., Sanmei Co., and Yonghe Co. [6] - Attention is also suggested for the chemical fiber sector, with recommended companies being Huafeng Chemical, Xin Fengming, and Taihe New Materials [6] - Other quality targets include Wanhua Chemical, Hualu Hengsheng, Luxi Chemical, and Baofeng Energy [6] - The tire sector is highlighted with recommendations for Sailun Tire, Senqilin, and Linglong Tire [6] - In the agricultural chemicals sector, recommended companies include Yara International, Salt Lake Co., Xingfa Group, Yuntianhua, and Yangnong Chemical [6] - Quality growth targets include Blue Sky Technology, Shengquan Group, and Shandong Heda [6] Industry Rating - The basic chemical industry maintains an "overweight" rating [7]

Core Viewpoint - Jiahuan Energy announced plans to absorb and merge its wholly-owned subsidiary, Zhejiang Jiahuan Hydrogen Peroxide Co., Ltd, which will result in the cancellation of its independent legal status, with assets and debts being inherited by the company. This merger does not involve changes in registered capital, related transactions, or significant asset restructuring, and is subject to shareholder approval [1] Financial Summary - The registered capital of the hydrogen peroxide subsidiary is 20 million yuan, with Jiahuan Energy holding 100% of the shares [1] - As of September 30, 2025, the subsidiary's total assets amount to 115.83 million yuan, net assets are 27.47 million yuan, revenue is 256.19 million yuan, and net profit is 14.47 million yuan [1] - The absorption and merger will have no substantial impact on the company's current profit and loss [1]

International News - Brazil has canceled the temporary anti-dumping tax on nylon filament imported from China, specifically from Yiwu Huading Nylon Co. Ltd. This decision was made by the Brazilian Foreign Trade Commission (GECEX) due to public interest and is effective immediately [1]. Domestic News - The price of lithium hexafluorophosphate, a key raw material for lithium batteries, has surged dramatically, exceeding 170,000 yuan per ton. This represents an increase of over 240% compared to the year's low of 47,000 yuan per ton recorded in July [1]. - The market prices for polypropylene and polyethylene as of December 11 are as follows: - Polypropylene prices range from 5,900 to 6,900 yuan per ton across various regions [2]. - Polyethylene prices range from 6,540 to 10,250 yuan per ton, depending on the type and region [2]. - The market prices for gasoline and diesel on December 11 are reported as follows: - Gasoline prices range from 7,239 to 7,633 yuan per ton [2]. - Diesel prices range from 6,421 to 6,700 yuan per ton [2]. - The market prices for caustic soda on December 11 show a range of 720 to 1,310 yuan per ton, depending on the concentration and region [3]. - Methanol prices on December 11 vary from 1,520 to 2,270 yuan per ton across different markets [4]. - The prices for various chemical commodities on December 11 indicate slight fluctuations, with sulfuric acid priced between 985 and 1,045 yuan per ton, and acetone ranging from 4,060 to 4,130 yuan per ton [5].

Core Viewpoint - The investment by Shangwei Co., Ltd. in Sichuan Zhongfu Taihua New Material Technology Co., Ltd. marks the initiation of a dual-driven strategy combining "cables + chemicals," aiming to enhance its market position in emerging industries such as new energy and semiconductor sectors [1][5]. Group 1: Investment and Strategic Layout - Shangwei Co., Ltd. will hold a 51% stake in Zhongfu Taihua after the capital increase, solidifying its strategic layout in the electronic chemicals and related basic chemicals sector [1]. - The investment aligns with national strategies and regional industrial development, particularly in the context of the "14th Five-Year Plan," which emphasizes the growth of emerging industries [1][7]. Group 2: Business and Product Development - Shangwei Co., Ltd. is recognized as the largest special cable enterprise in Southwest China, with a diverse product range including cables for nuclear power, rail transit, and renewable energy applications [5]. - Zhongfu Taihua's projects, including a 200,000 tons/year hydrogen peroxide project and electronic-grade chemicals, are set to commence production by Q1 2026, contributing to the supply chain for new energy and semiconductor industries [5][6]. Group 3: Market Potential and Synergy - The dual business model is expected to create a synergistic effect, enhancing overall performance and establishing a second growth driver for Shangwei Co., Ltd. [5][6]. - The electronic chemicals produced by Zhongfu Taihua are crucial for applications in solar panels, semiconductors, and food packaging, indicating significant market potential [6]. Group 4: Regional Development Impact - The investment is strategically positioned within Leshan's robust chemical industry, which aims to transition towards high-end and differentiated products, targeting a green chemical industry output of 600 billion yuan by 2027 and over 1 trillion yuan by 2029 [8].