"大洋生物的文化是立足现有优势产品，沉下心来把它做精、做深、做细、做优，做出规模效应。"大洋 生物董事长陈阳贵说，公司不搞花架子，而是扎扎实实地把钾盐主业做强，同时让兽药和含氟精细化学 品这两翼协同发展。 一脉清泉，自群山奔涌而出，入兰江，汇钱塘，浩浩荡荡奔向东海。兰江从山涧走向大海，大洋生物也 从兰江畔出发，用约五十年时间完成了从社办企业到全球细分市场龙头的跨越。 在陈阳贵看来，这主要得益于几个关键布局，放在首要位置的就是深化公司"一体两翼"格局。一方面， 公司不断强化技术创新，提升产品竞争力，助推规模化发展，让钾盐这个"主体"在全球的地位更牢固； 另一方面，让"两翼"（含氟精细化学品和兽药）真正"飞"起来，成为重要的增长点。 为夯实主业，大洋生物把"专精"刻入发展基因，坚信"技术就是硬道理"，选择"死磕"技术。"最让团队 自豪的就是自主研发的'离子交换闭路循环系统及高效蒸发生产碳酸钾工艺'，既显著降低了生产能耗， 又实现了含氨氮废水的资源化利用，走出一条绿色高效的可持续发展之路。"陈阳贵说。 除了技术过硬之外，产品定位"高精尖"是大洋生物多年发展的又一经验。"碳酸钾属于轻质碳酸钾，具 有堆积密度小、比表面 ...

格隆汇12月22日丨华谊集团(600623.SH)在互动平台表示，公司通过收购三爱富实现在含氟聚合物、氟 碳化学品及含氟精细化学品领域的业务拓展。三爱富作为氟化工领域的领先企业，已建立较为完整的有 机氟化学产品产业链，覆盖有机氟化工产业链中的众多关键产品，核心产品广泛应用于新能源、电子信 息、航空航天等下游行业，具备广阔的发展前景。但公司股价及估值受流动性、市场交易结构、投资者 情绪、公司基本面等多重因素影响。公司将持续致力于提升公司治理水平和持续盈利能力，以提升公司 投资价值和股东回报。 ...

Core Viewpoint - Yonghe Co., Ltd. (605020) emphasizes its main products, which include fluorocarbon chemicals, fluoropolymer materials, and fluorine fine chemicals, highlighting their potential applications in various industries such as new energy, electronic information, and semiconductors [1] Product Characteristics - The company's products are characterized by chemical resistance, electrical insulation, and stability, making them suitable for demanding applications [1] Industry Applications - The potential applications of the products are typically validated by downstream customers based on their specific process requirements and technical routes [1] - The company is actively promoting technological research and product optimization to meet industry demands while expanding product applications within compliance [1]

Investment Rating - The investment rating for the company is "Accumulate" [6] Core Views - The company reported a significant increase in net profit for the third quarter, with a year-on-year growth of 187% and a total net profit of 12 billion yuan [1] - The refrigerant industry remains buoyant, with the company benefiting from a production quota system that is expected to sustain long-term price increases [4] - The company is positioned as a leading player in the refrigerant market, holding a 39.33% share of the national production quota for HFCs [4] Revenue and Profitability - For the first three quarters of 2025, the company achieved a revenue of 20.4 billion yuan, a year-on-year increase of 14%, and a net profit of 3.25 billion yuan, up 160% [1] - The refrigerant segment generated 9.35 billion yuan in revenue, representing a 48% year-on-year increase, contributing 46% to total revenue [2] - The average price of refrigerants increased significantly, with R32 priced at 57,000 yuan/ton, up 62% year-on-year [2] Segment Performance - Other segments, such as fluorochemical raw materials and fluoropolymer materials, showed mixed results, with revenues of 990 million yuan and 1.4 billion yuan respectively, reflecting year-on-year growth of 10.5% and 5.5% [3] - The food packaging materials segment faced a decline in revenue, down 27% year-on-year, due to weak market demand [3] Future Outlook - The company is expected to see continued growth in net profit, with projections of 4.44 billion yuan, 5.43 billion yuan, and 6.59 billion yuan for 2025, 2026, and 2027 respectively [4] - The company maintains a strong market position and is well-positioned to benefit from the ongoing demand for refrigerants and the implementation of production quotas [4]

证券代码：600378 证券简称：昊华科技 公告编号：临 2025-073 昊华化工科技集团股份有限公司 2025 年前三季度主要经营数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 昊华化工科技集团股份有限公司（以下简称"公司"）根据《上海 证券交易所上市公司自律监管指引第 3 号——行业信息披露》及附件 《第十三号——化工》《上交所关于做好主板上市公司 2025 年第三 季度报告披露工作的重要提醒》要求，现将公司 2025 年前三季度主 要经营数据披露如下： 说明：含氟精细化学品中有部分自用，导致产量高于销量较多。 主要产品 2025年 1-9月产量 （吨） 2025年 1-9月销量 （吨） 2025 年 1-9 月销售 金额（万元） 氟碳化学品 92,085.87 90,768.81 403,221.87 含氟锂电材料 60,151.88 54,940.28 97,450.84 含氟聚合物 34,733.27 31,608.30 120,244.86 含氟精细化学品 39,660.54 16,047.24 63, ...

Core Viewpoint - The rising prices of refrigerants have positively impacted the performance of related listed companies, with significant revenue and profit growth reported in the third quarter of 2025 [1][2]. Company Performance - Juhua Co., Ltd. (600160) reported a revenue of 20.394 billion yuan for the first three quarters of 2025, a year-on-year increase of 13.89%, and a net profit of 3.248 billion yuan, up 160.22% [1]. - In the third quarter alone, Juhua's revenue and net profit growth rates further increased to 21.22% and 186.55%, respectively [1]. - Juhua's average price for refrigerants reached 40,553.71 yuan per ton, reflecting a year-on-year increase of 58.14% and a quarter-on-quarter increase of 5% [1]. - Yonghe Co., Ltd. (605020) reported a revenue of 3.786 billion yuan, up 12.04%, and a net profit of 469 million yuan, up 220.39%, with a third-quarter net profit growth of 485.77% [2]. - Duofu Co., Ltd. (002407) achieved a revenue of 6.729 billion yuan and a net profit of 78.0546 million yuan, marking a year-on-year increase of 407.74% [2]. Industry Trends - The refrigerant market is undergoing fundamental changes due to the implementation of production quotas starting in 2024, positioning HFCs as the mainstream refrigerant for an extended period [1]. - The average transaction price of HFC refrigerants is expected to maintain a long-term upward trend, supported by national policies aimed at carbon neutrality [3]. - Short-term demand for refrigerants has slightly rebounded in October, although seasonal factors have led to a slowdown in the northern market [2].

股票简称：巨化股份 股票代码：600160 公告编号：临 2025－44 浙江巨化股份有限公司 2025 年 1-9 月主要经营数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 浙江巨化股份有限公司（以下简称"公司"）根据《上海证券交易所上市公司 自律监管指引第 3 号——行业信息披露（第十三号化工）》有关规定，将公司 2025 年 1-9 月主要经营数据披露如下： | 主要产品 | 产量 | 同比 | 外销量 | 同比 | 营业收入 | 同比 | | --- | --- | --- | --- | --- | --- | --- | | | 吨 | % | 吨 | % | 万元 | % | | 氟化工原料 | 898103.85 | 7.61 | 288293.29 | 9.40 | 99322.57 | 10.50 | | 制冷剂 | 440149.67 | -0.32 | 230618.39 | -6.40 | 935243.23 | 48.01 | | 含氟聚合物材料 | 103871.00 | 6.80 ...

Core Viewpoint - The company has announced adjustments to its employee stock ownership plan, specifically reducing the purchase price of reserved shares from 8.45 yuan to 8.20 yuan per share due to the implementation of the 2024 annual profit distribution plan [8][11][15]. Financial Data - The financial report for the third quarter of 2025 has been prepared and is not audited [3][20]. - The company reported that the net profit from merged entities was 0 yuan for the current and previous periods [5]. Shareholder Information - The company has confirmed that there are no changes in the number of shareholders or significant shareholders participating in the stock lending business [4]. Employee Stock Ownership Plan - The company held meetings to approve the adjustment of the purchase price for the employee stock ownership plan, which was reduced to 8.20 yuan per share [8][23]. - The plan allows for the distribution of 5,532,540 reserved shares to no more than 280 participants, representing 22.49% of the total plan size [25][41]. - The reserved shares will have a lock-up period of 12 and 24 months, with performance assessments at the company, business unit, and individual levels determining the unlocking of shares [42][43]. Management Changes - The company has appointed a new head of the audit center, replacing the previous head due to internal job changes [32][34].

证券代码：605020 证券简称：永和股份 公告编号：2025-090 浙江永和制冷股份有限公司 2025 年前三季度主要经营数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 浙江永和制冷股份有限公司（以下简称"公司"）根据上海证券交易所《上海证 券交易所上市公司自律监管指引第 3 号——行业信息披露》及其附件《第十三号—— 化工》有关规定，将公司 2025 年前三季度主要经营数据披露如下： 一、主要产品的产量、销量及收入实现情况 | 主要产品 | 产量（吨） | 同比 | 对外销量 | 同比 | 营业收入 | 同比 | | --- | --- | --- | --- | --- | --- | --- | | | | （%） | （吨） | （%） | （万元） | （%） | | 氟碳化学品 | 123,452.31 | 1.51 | 68,030.08 | -9.00 | 203,887.72 | 18.00 | | 含氟高分子材料 | 42,070.80 | 14.90 | 29,026.58 | -1.5 ...

Core Viewpoint - The report from Tianfeng Securities highlights Juhua Co., Ltd. as a leading state-owned enterprise in the fluorochemical industry, projecting steady growth in performance from 2013 to 2024, with refrigerant gross profit accounting for over 60% of its revenue [1] Group 1: Company Overview - Juhua's product portfolio includes seven categories: fluorochemical raw materials, fluorinated refrigerants, fluoropolymers, fluorinated fine chemicals, food packaging materials, petrochemical materials, and basic chemical products [1] - The company's revenue and net profit attributable to shareholders are expected to grow at a CAGR of 8.7% and 20.4% respectively from 2013 to 2024, driven mainly by increased volume in the refrigerant and basic chemical segments [1] Group 2: Market Position and Projections - By 2025, Juhua is projected to have a production quota of 271,000 tons for its third-generation refrigerants (excluding R23), holding a market share of 34%, making it the industry leader [1] - The company leads in the market share of mainstream third-generation refrigerants, with R32, R125, and R134a accounting for 42%, 21%, and 25% of its total quota, respectively, and 41%, 34%, and 33% of the domestic total quota [1] Group 3: Future Outlook and Valuation - Juhua's multiple fluoropolymer production capacities rank among the top three in the country, and the company has developed a series of electronic fluorinated liquids through years of research and development [1] - Given its leadership position in the fluorochemical industry, the company is assigned a target price of 39.5-41.2 yuan per share based on a 24-25 times PE ratio for 2025, with an initial coverage rating of "Buy" [1]