1月6日，博苑股份涨5.04%，截至发稿，报87.39元/股，成交5689.56万元，换手率1.25%，总市值116.79 亿元。 从博苑股份十大流通股东角度 数据显示，鹏华基金旗下1只基金位居博苑股份十大流通股东。鹏华汇智优选混合A（010894）三季度 新进十大流通股东，持有股数43.42万股，占流通股的比例为1.3%。根据测算，今日浮盈赚取约181.95 万元。 资料显示，山东博苑医药化学股份有限公司位于山东省寿光市侯镇海洋化工园区新海路与大九路路口北 200米，成立日期2008年8月6日，上市日期2024年12月11日，公司主营业务涉及专业从事精细化学品研 发、生产、销售及资源综合利用的高新技术企业,主营业务包括有机碘化物、无机碘化物、贵金属催化 剂、发光材料、六甲基二硅氮烷等产品的研发、生产、销售,并基于资源综合利用资质与工艺技术优势 开展含碘、贵金属等物料的回收利用业务,为客户提供贵金属催化剂、六甲基二硅氮烷等加工服务。主 营业务收入构成为：碘化物74.56%，特种功能化学品12.79%，贸易业务9.94%，其他2.72%。 鹏华汇智优选混合A（010894）成立日期2021年1月8日，最新规模3 ...

Core Viewpoint - The company, Boyuan Co., Ltd. (301617), is positioned as a leader in the fine chemical sector, successfully navigating the transition from "scale expansion" to "green high-quality development" in the context of the global "dual carbon" strategy [1] Group 1: Circular Economy and Business Model - Boyuan Co., Ltd. has established a circular economy business model centered on the recovery and utilization of iodine and precious metals, differentiating itself from traditional chemical enterprises [2] - This model allows the company to procure iodine and precious metal-containing waste from upstream enterprises, effectively addressing waste disposal challenges while reducing raw material dependency and production costs [2] - The circular economy approach not only mitigates risks associated with imported raw material price fluctuations but also enhances customer trust, leading to long-term cooperation agreements [2] Group 2: Integrated Service Capability - The company has developed a comprehensive service capability that spans from basic chemical raw material supply to hazardous waste resource utilization and product processing, fostering mutually beneficial strategic partnerships with major clients [3] - Boyuan Co., Ltd.'s iodine resource utilization business is recognized for its advanced recycling processes and large-scale processing capabilities, placing it in a leading position within the industry [3] Group 3: Technological Innovation and Product Development - The company emphasizes technological innovation as a key driver of growth, increasing R&D investment and accelerating the commercialization of research outcomes [5] - Boyuan Co., Ltd. is focusing on high-end and emerging fields such as new materials and new energy, aiming to enhance product structure and extend the industrial chain [5] - The company actively participates in the establishment of industry standards, having contributed to the formulation of 3 industry standards and 11 group standards, thereby enhancing its professional influence [4] Group 4: Strategic Growth and Market Positioning - Boyuan Co., Ltd. maintains a cautious yet open approach to mergers and acquisitions, considering opportunities that align with its strategic goals to enhance core competitiveness [6] - The company has outlined a clear roadmap for high-quality development during the 14th Five-Year Plan period, focusing on talent, R&D, market expansion, governance, and green development [6] - The company is committed to integrating into local industrial layouts and development plans, promoting sustainable practices through increased environmental investment and resource recycling [7]

Core Viewpoint - The article highlights how Boyuan Co., Ltd. is navigating the transformation of the chemical industry towards green and high-quality development, leveraging a circular economy model to enhance resource utilization and economic benefits while addressing environmental concerns [1]. Group 1: Circular Economy and Business Model - Boyuan Co., Ltd. has established a circular economy business model centered on the recovery and utilization of iodine and precious metals, differentiating itself from traditional chemical companies [3]. - The company effectively addresses waste disposal challenges for upstream enterprises, facilitating compliance and resource utilization, which in turn broadens its raw material sources and reduces production costs [3]. - This model not only mitigates risks associated with raw material price fluctuations but also fosters long-term partnerships with clients, enhancing operational stability and sustainability [3]. Group 2: Product and Market Position - Boyuan Co., Ltd. has developed a comprehensive service capability that spans the entire industrial chain, from basic chemical raw material supply to hazardous waste resource utilization and product processing, strengthening strategic partnerships with major clients [4]. - The company holds a leading position in the iodine resource utilization sector, thanks to its mature recovery processes and large-scale processing capabilities [4]. - In the organic iodine market, products like trimethyl iodide occupy significant market shares, while inorganic iodides such as potassium iodate and potassium iodide are widely used in critical industries like pharmaceuticals and chemicals [7]. Group 3: Technological Innovation and Development Strategy - The company emphasizes the importance of innovation as a growth engine, supported by a strong technical foundation and a competitive product matrix [7]. - Boyuan Co., Ltd. is increasing R&D investments and enhancing its innovation center to accelerate the commercialization of research outcomes and the development of new products and technologies [8]. - The company is also focusing on high-end fields such as new materials and new energy, aiming to upgrade its product offerings to higher value-added areas and cultivate new growth points [9]. Group 4: Strategic Growth and Future Outlook - Boyuan Co., Ltd. maintains a cautious yet open approach to mergers and acquisitions, considering opportunities that align with its strategic goals to enhance core competitiveness [11]. - The company has outlined a clear roadmap for high-quality development during the 14th Five-Year Plan period, focusing on talent, R&D, market expansion, governance, and green development [12]. - By integrating green, low-carbon, and sustainable practices into its operations, Boyuan Co., Ltd. aims to contribute to regional economic development while positioning itself as a benchmark for high-quality development in the fine chemical industry [12].

Group 1 - The core business of Shandong Boyuan Pharmaceutical Chemical Co., Ltd. includes the research, production, and sales of fine chemicals, with a focus on organic iodides (74.56% of revenue), specialty functional chemicals (12.79%), trading (9.94%), and others (2.72%) [2] - As of December 10, 2025, the company reported a revenue of 1.073 billion yuan, representing a year-on-year growth of 6.60%, while the net profit attributable to shareholders decreased by 22.53% to 132 million yuan [2] - The company has distributed a total of 88.408 million yuan in dividends since its A-share listing [3] Group 2 - On December 19, 2025, Boyuan shares increased by 0.53%, with a trading volume of 93.8648 million yuan, and a net financing purchase of 448,700 yuan [1] - The total margin trading balance for Boyuan shares reached 142 million yuan, accounting for 3.68% of the circulating market value, which is above the 70th percentile of the past year [1] - As of December 19, 2025, there were no shares sold or repaid in the securities lending market, indicating a high level of demand for borrowing [1]

Group 1 - The core viewpoint of the news is that Shandong Boyuan Pharmaceutical Chemical Co., Ltd. has shown fluctuations in its stock performance and financing activities, indicating potential investor interest and market dynamics [1][2]. Group 2 - On December 18, Boyuan shares fell by 2.24%, with a trading volume of 66.31 million yuan. The financing buy-in amount was 5.13 million yuan, while the financing repayment was 3.34 million yuan, resulting in a net financing buy-in of 1.79 million yuan. The total financing and securities balance reached 142 million yuan [1]. - As of December 18, the financing balance of Boyuan shares was 142 million yuan, accounting for 3.69% of the circulating market value [1]. - In terms of securities lending, there were no shares repaid or sold on December 18, with a remaining balance of 0 shares and 0 yuan [1]. Group 3 - Boyuan, established on August 6, 2008, is located in Shouguang City, Shandong Province, and specializes in the research, production, and sales of fine chemicals, including organic and inorganic iodides, precious metal catalysts, and luminescent materials. The main business revenue composition includes iodides (74.56%), specialty functional chemicals (12.79%), trading business (9.94%), and others (2.72%) [2]. - For the period from January to September 2025, Boyuan achieved an operating income of 1.073 billion yuan, representing a year-on-year growth of 6.60%. However, the net profit attributable to the parent company was 132 million yuan, a decrease of 22.53% year-on-year [2]. Group 4 - Since its A-share listing, Boyuan has distributed a total of 88.41 million yuan in dividends [3]. - As of September 30, 2025, the top ten circulating shareholders of Boyuan include several new institutional investors, with notable holdings from Zhonghang New Start Flexible Allocation Mixed A (holding 1.3456 million shares) and Hong Kong Central Clearing Limited (holding 964,400 shares) [3].

Group 1 - The core technology developed by the company allows for the recovery of useful elements such as iodine, bromine, platinum, palladium, rhodium, and ruthenium from waste materials in various industries, achieving the same quality as imported raw materials [1] - The company has established a circular economy model by purchasing waste materials generated during production from clients or other enterprises and extracting key raw materials through recycling [1] - This technology significantly reduces dependence on external raw materials and production costs, effectively mitigating risks associated with fluctuations in imported raw material prices, while providing economic and environmental benefits [1] Group 2 - The company has accumulated 17 years of technical expertise, evolving from a startup in a barren area to a leading enterprise in the iodide industry listed on the Shenzhen Stock Exchange [2] - The company has established itself in various segments, including organic iodides, inorganic iodides, and luminescent materials, and has participated in the formulation of 3 industry standards and 11 group standards [2] Group 3 - The core management team has remained stable over the years, with a commitment to not suppress employee wages and maintaining a robust compensation management system [3] - The company has implemented stock incentive plans since 2018, allowing core executives and young technical talents to hold shares, reflecting a shared growth philosophy [3] Group 4 - The company is gaining attention in the solid-state battery sector, where lithium iodide is recognized for its significant importance in solid-state batteries [4] - A strategic cooperation framework agreement was signed with a leading lithium battery company to jointly develop new solid-state electrolyte products with high ionic conductivity and interface stability [4] - Future development plans include extending product offerings into high-value downstream intermediates and expanding into new energy and materials sectors, while also focusing on international market expansion [4]

一头是技术积累，一头是人才稳固。 17年间，博苑股份跟随创业的核心管理团队非常稳定"。"我们从来不压员工工资，公司账上永远留一笔 给员工发工资的钱。自公司创立之初，我们便建立了完善的薪酬管理体系。随着业务规模持续扩大、发 展不断沉淀，员工薪酬也实现了同步稳步增长，这是企业与员工共同成长的体现。2018年，公司实行股 权激励，从核心高管到年轻技术骨干都有股份。" 博苑股份副总经理王恩训表示。 "我们自主研发的回收技术与工艺，可以从医药行业、化工行业、光电行业等废弃物中回收碘、溴、 铂、钯、铑、钌等有用元素，处理技术能实现与进口原料同样品质，我们也做了团体标准，经我们回收 过的废水能做到碘零排放了。在回收技术成熟的基础上，我们又衍生出来贵金属催化剂业务。"博苑股 份董事长李成林告诉记者。 博苑股份是碘化物行业内少数实现"变废为宝"的企业，向客户或其他企业采购生产环节产生的废料，通 过回收废料提取关键原材料，形成循环经济模式。 李成林表示，"这项技术显著降低了原材料对外依存度及生产成本，有效应对进口原料价格波动风险， 实现经济效益与环境效益双赢，同时提供全产业链服务，增强客户黏性。" 业内少有的"变废为宝"这项技术 ...

投资者关系活 动类别 ☑ 特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □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） 参与单位名称 及人员姓名 中银证券、长盛基金、天弘基金 时间 2025 年 12 月 9 日 地点 博苑股份会议室 上市公司接待 人员姓名 1、董事长：李成林 2、证券事务代表：杨艳丽 投资者关系活 动主要内容介 绍 1、公司精细化学品产品种类有哪些？ 答：公司精细化学品主要包括碘化物、发光材料、六甲基 二硅氮烷和贵金属催化剂等品类，其中碘化物产品收入占比居 各品类首位，为核心营收贡献品类。 2、贵公司碘化物产品产能及相关品类？ 答：公司碘化物产品现有产能 4,100 吨/年，试生产阶段项 目 4,000 吨/年。其中，无机碘化物主要包括碘化钾、碘酸钾、 碘化钠、氢碘酸、碘化亚铜等；有机碘化物产品主要有三甲基 碘硅烷、碘甲烷等。 3、公司 4000 吨/年无机碘化物生产项目的建设进度？ 答：公司 4000 吨/年无机碘化物生产项目，已于 2025 年 12 月 5 日正式进入试生产阶段。 4、公司无机碘化物产品的市场前景？ 答：从下游主要需求领域角度看，无机碘 ...

Core Insights - Rare earth elements are crucial for modern technology and national security, with applications ranging from smartphones to military systems [2][3] - The United States faces significant challenges in its rare earth industry, primarily relying on China for processing despite having its own mining resources [2][5] Group 1: Importance of Rare Earth Elements - Rare earth elements consist of 17 elements, including lanthanum, cerium, and neodymium, which are essential in high-tech applications such as electric vehicles and wind turbines [3] - China dominates the global rare earth market, holding approximately 37% of the world's reserves and producing 63% of the global output in 2019 [3][5] Group 2: Challenges Faced by the U.S. Rare Earth Industry - The U.S. rare earth industry suffers from limited resources, insufficient investment, and outdated technology, leading to a lack of processing capabilities [5][10] - The Mountain Pass mine in California has significant reserves but lacks the processing capacity, forcing the U.S. to send mined materials to China for refinement [5][6] Group 3: China's Strategic Position - China has developed a complete rare earth supply chain, from mining to processing, giving it a competitive edge over other countries [10][11] - The Chinese government has implemented export controls on rare earth materials, which has raised concerns in the U.S. about the potential impact on military and high-tech industries [6][11] Group 4: U.S. Response and Future Strategies - The U.S. has attempted to revitalize its rare earth industry through initiatives like the 2017 executive order aimed at understanding supply chains and fostering domestic production [9] - Future strategies for the U.S. include investing in technology, collaborating with allies for a diversified supply chain, and exploring recycling and alternative materials to reduce dependence on China [10][11]

Core Viewpoint - The company, Boyuan Co., Ltd. (301617), is a high-tech enterprise specializing in the research, production, and sales of fine chemicals, emphasizing a unique business model that integrates product offerings with resource recycling [1] Group 1: Business Model and Product Offerings - Boyuan Co., Ltd. has developed a diverse product matrix, including organic iodides (trimethyl iodide), inorganic iodides (potassium iodate, potassium iodide, hydrogen iodide), and luminescent materials, leading in their respective niche markets [1] - The company provides essential raw materials and additives to various industries such as pharmaceuticals, optoelectronics, chemicals, and entertainment, leveraging years of technical accumulation and market presence [1] Group 2: Industry Standards and Influence - The company actively participates in the establishment of industry standards, having contributed to the formulation of 3 industry standards and 11 group standards, which enhances its professional influence in niche markets [1] Group 3: Resource Recycling and Economic Benefits - Boyuan Co., Ltd. is one of the few companies in the industry that effectively combines its main products with resource recycling, operating as a circular economy enterprise [1] - The company procures waste materials generated during production from clients or other businesses, extracting key raw materials, thus addressing waste disposal challenges for upstream companies while reducing its own procurement costs [1] Group 4: Integrated Services and Client Relationships - The company offers a full industrial chain service, from basic chemical raw material supply to hazardous waste resource utilization and product processing, establishing mutually beneficial strategic partnerships with major clients [1] - This approach significantly enhances customer loyalty and strengthens the company's core market competitiveness [1] Group 5: Future Business Expansion - Looking ahead, Boyuan Co., Ltd. plans to expand its business into new materials and new energy sectors, aiming to extend its industrial chain and contribute to the development of a green low-carbon economy [1]