证券日报网讯 12月19日，泰和科技在互动平台回答投资者提问时表示，泰和科技目前正在现有土地上 进行氯代碳酸乙烯酯（CEC）的替代改造，使用外购的80%CEC一样可以生产合格的VC产品，只是产 生的废料较多，但是后续试生产过程具有一定的不确定性，请注意投资风险。 （文章来源：证券日报） ...

Core Viewpoint - The recent share transfer within Furi Shares has attracted market attention, particularly due to the significant price difference between the transfer price and the current market price, alongside the company's involvement in the rapidly rising carbonate vinyl ester (VC) market [1][3][4]. Share Transfer - On November 18, Furi Shares announced the completion of a share transfer where Sun Riguai transferred 60.22 million shares (6.36% of total shares) to Sun Haobo at a price of 4.995 yuan per share, totaling 300 million yuan [3][4]. - Following the transfer, Sun Haobo's shareholding increased to 64.4353 million shares (6.81% of total shares), while Sun Riguai no longer holds any shares in the company [4]. Stock Performance - Furi Shares experienced a remarkable stock performance, with its price hitting the limit up for eight consecutive trading days from November 6 to November 17, driven by the booming VC market [1][6]. - On November 18, the stock price opened high but closed down by 2% at 12.46 yuan per share, with an intraday fluctuation exceeding 14% [1]. Market Context - The price of VC has surged significantly, reaching 142,500 yuan per ton on November 18, marking a 111% increase compared to the previous week and a 171% increase compared to the previous month [6]. - The rapid price increase of VC has led to a bullish sentiment in the market, particularly for stocks related to this sector, although some stocks, including Furi Shares, faced a pullback on November 18 [6]. Financial Performance - For the first three quarters of 2025, Furi Shares reported a revenue of 3.84 billion yuan, a year-on-year decrease of 4.45%, with a net profit of 296 million yuan, down 12.05% [8]. - The subsidiary Furi New Energy, which focuses on lithium battery electrolyte additives, generated 168 million yuan in revenue, accounting for 4.38% of the company's total revenue, indicating limited impact on overall performance [8]. Business Development - Furi Shares has invested in the production of VC and other lithium battery electrolyte additives, establishing a full industrial chain with a production capacity of 10,000 tons per year [9]. - The company has successfully integrated its VC production processes, leading to increased efficiency and reduced costs, while also achieving a 73.13% year-on-year growth in revenue from its electrolyte additive business in the first half of 2025 [9].

Core Viewpoint - The recent surge in stock price of Furui Co., Ltd. (孚日股份) is primarily driven by its foray into the lithium battery electrolyte additive business, particularly the rising prices of vinylene carbonate (VC) [3][5][6] Stock Performance - On November 17, Furui Co., Ltd. opened with a limit-up, closing at 12.72 CNY per share, marking a historical high and a cumulative increase of 112.35% since October 31 when it closed at 5.99 CNY per share [3][5] - The stock has experienced a continuous limit-up for eight consecutive trading days [3] Business Transition - The market is shifting its valuation logic for Furui Co., Ltd. from traditional home textiles to a dual business model of "home textiles + new energy" due to the performance of its new energy segment [3] - Despite the stock price surge, the company reported a decline in revenue and profit in the first three quarters, with the new energy segment still operating at a loss [4][8] Market Dynamics - The price of VC, a key component in lithium battery electrolytes, has seen significant increases, with prices rising to 105,000 CNY per ton by November 14, nearly doubling since the end of October [5][6] - The demand for VC is driven by the growing energy storage market and supply shortages due to some production halts [6][7] Future Outlook - Analysts predict that the current price increase for VC may continue until the end of 2025 or early 2026, with potential for further price hikes depending on end-user demand [7] - Furui Co., Ltd. has established an annual production capacity of 10,000 tons for battery-grade VC, while other companies in the sector have varying capacities [7]

Core Viewpoint - The company, Xinzhou Bang, has provided details regarding its production capacity for vinyl carbonate (VC) and fluoroethylene carbonate (FEC), indicating a stable operational status and future expansion plans [2] Group 1: Production Capacity - The current production capacity for VC is approximately 10,000 tons, with an additional 5,000 tons under construction expected to be operational by the second half of 2026 [2] - The existing production capacity for the precursor CEC is 35,000 tons per year, which can support the usage of 15,000 tons of VC and 8,000 tons of FEC [2] Group 2: Operational Status - The company reports that its production and operational activities are proceeding normally [2] - Investors are encouraged to monitor the company's regular reports published on the Giant Tide Information Network for further updates on operational conditions [2]

Core Viewpoint - Fuzhi Co., Ltd. (002083.SZ) has seen its stock price surge, reaching a historical high of 12.72 CNY per share, marking an increase of 112.35% since October 31, driven primarily by its foray into the lithium battery electrolyte additive business, particularly the rising price of vinylene carbonate (VC) [2][4]. Group 1: Stock Performance - On November 17, Fuzhi Co. opened with a limit-up and has experienced eight consecutive trading days of limit-up [2]. - The stock price has increased significantly from 5.99 CNY per share on October 31 to the current level, reflecting strong market interest [2]. - The company issued a risk warning on November 17, indicating abnormal stock price fluctuations, with a cumulative deviation of over 20.90% in the closing prices on November 13 and 14 [4]. Group 2: Business Performance - Despite the stock price surge, Fuzhi Co. reported a decline in both revenue and profit for the first three quarters, with revenue of 3.841 billion CNY, down 4.45% year-on-year, and a net profit of 296 million CNY, down 12.05% year-on-year [3][8]. - The company's subsidiary, Fuzhi New Energy, which focuses on lithium battery electrolyte additives, reported a net loss of approximately 30.32 million CNY in the first three quarters [8]. Group 3: Market Dynamics - The recent surge in VC prices is attributed to increased demand from the energy storage market and supply shortages due to some VC producers halting production [5][6]. - VC prices have seen significant increases, with a total rise of 27.84% since October, and daily increases reaching up to 20% in mid-November [5][7]. - As of November 14, the market average price for VC reached 105,000 CNY per ton, nearly doubling since the end of October [4]. Group 4: Production Capacity - Fuzhi Co. has established an annual production capacity of 10,000 tons for battery-grade VC, while competitors like Huasheng Lithium and Yongtai Technology have capacities of 14,000 tons and 8,000 tons respectively [7].

Core Viewpoint - The stock price of Furi Group (孚日股份) has surged by 112.35% from November 3 to November 17, raising concerns about irrational speculation and potential trading risks [1][2] Group 1: Stock Performance - Furi Group's stock price has shown significant volatility, with a cumulative abnormal fluctuation of 113.94% over eight consecutive trading days [1] - The company experienced eight consecutive daily price increases, reaching the daily limit on each occasion [1] Group 2: Financial Performance - For the first three quarters of 2025, Furi Group reported revenue of approximately 3.841 billion yuan, a year-on-year decrease of 4.45% [2] - The net profit for the same period was approximately 296 million yuan, reflecting a year-on-year decline of 12.05% [2] - The subsidiary, Furi New Energy, generated about 168 million yuan in revenue, accounting for only 4.38% of the company's total revenue, indicating limited impact on overall performance [2] Group 3: Business Operations - Furi New Energy, which focuses on lithium battery electrolyte additives, reported a net loss of approximately 30.32 million yuan for the first three quarters of 2025, facing uncertainties in the downstream lithium battery industry [2] - The company currently has no plans for capacity expansion in its new energy segment, which will not significantly affect other business operations [2] Group 4: Market Sentiment - A viral screenshot referencing "7 consecutive limit-up Furi Group" has gained attention in the market, although it is not an official company announcement [2] - The stock's recent performance has sparked discussions about "mystical stock trading" among market participants [2]

Core Viewpoint - The stock price of Furui Co., Ltd. has experienced abnormal fluctuations, with a cumulative closing price increase exceeding 20.90% over two consecutive trading days, prompting an investigation by the board of directors [1][3]. Group 1: Company Performance - In the first three quarters of 2025, Furui Co., Ltd. achieved operating revenue of 3.841 billion yuan, a year-on-year decrease of 4.45% [4]. - The net profit for the same period was 296 million yuan, reflecting a year-on-year decline of 12.05% [4]. - The subsidiary, Furui New Energy, reported an operating revenue of 168 million yuan, accounting for 4.38% of the company's total revenue, indicating a limited impact on overall performance [4]. Group 2: Business Operations and Strategy - Furui Co., Ltd. is transitioning its home textile industry towards brand differentiation and high value-added products while actively engaging in the rapidly developing global new energy materials sector [5]. - The company has established a joint venture to optimize its industrial layout and is focusing on functional coating materials and lithium battery electrolyte additive projects [5]. - The production capacity for the refined VC project has reached 10,000 tons annually, with the company successfully achieving integrated production [5]. Group 3: Market Conditions and Risks - The lithium battery electrolyte additive market is currently at a low price point, with ongoing adjustments in supply and demand structures [5]. - The company anticipates a potential recovery in the market as outdated production capacity is phased out and downstream demand continues to grow [5]. - Furui Co., Ltd. has warned investors about the risks associated with irrational trading behavior and the potential for short-term price declines [4].

Core Viewpoint - The stock of Furui Co., Ltd. (孚日股份) has experienced significant price fluctuations, with a cumulative increase of over 20.90% in the closing price over two consecutive trading days, prompting the company to issue an announcement regarding the abnormal trading situation [2][4]. Group 1: Stock Performance and Company Response - Furui Co., Ltd. confirmed that there are no corrections or supplements needed for previously disclosed information, and the current operational situation is normal without any significant changes in the internal or external business environment [4][5]. - The company stated that there are no undisclosed major information or events that could significantly impact the stock price during the period of abnormal trading [5][6]. - The board of directors emphasized the importance of rational trading and warned investors about potential risks associated with irrational speculation and short-term price declines [7]. Group 2: Financial Performance - In the first three quarters of the year, Furui Co., Ltd. achieved a revenue of 3.841 billion yuan, representing a year-on-year decrease of 4.45% [6]. - The net profit for the same period was 296 million yuan, down 12.05% year-on-year, with the subsidiary Furui New Energy reporting a loss of approximately 30.32 million yuan [6]. - The revenue from Furui New Energy, which focuses on lithium battery electrolyte additives, was 168 million yuan, accounting for 4.38% of the company's total revenue, indicating a limited impact on overall performance [6]. Group 3: Business Strategy and Market Outlook - Furui Co., Ltd. is actively transitioning its home textile industry towards brand differentiation and high value-added products while also focusing on the rapidly developing global new energy materials sector [7][8]. - The company has established a joint venture to enhance its new materials business and is currently prioritizing projects related to functional coating materials and lithium battery electrolyte additives [7]. - The market for electrolyte additives is expected to gradually recover as the supply-demand structure adjusts, with cost control and technological advancement being crucial for maintaining competitiveness [8].

Core Viewpoint - The stock of Furui Co., Ltd. (002083.SZ) has experienced a significant surge, driven by strong market expectations for its lithium battery electrolyte additive business, amidst a volatile A-share market [1][2]. Company Overview - Furui Co., Ltd. has transitioned from a traditional home textile company to a dual-business model, incorporating a focus on new energy materials since 2021, specifically lithium battery electrolyte additives [1][2]. - The company has established a comprehensive industrial chain, including a 40,000 tons/year CEC production facility and a 10,000 tons/year VC synthesis and refining facility, optimizing costs and mitigating raw material price fluctuations [1][2]. Market Dynamics - The recovery of the downstream new energy vehicle sector has led to increased demand for lithium battery electrolytes, with major industry players signing contracts for over 1.5 million tons of electrolytes, indicating a high industry prosperity [2]. - The price of battery-grade VC has risen significantly, from 48,000 CNY/ton in October to 66,000 CNY/ton by November 10, reflecting a nearly 30% increase over two months [2]. Financial Performance - Despite the rapid growth of its new energy business, Furui Co., Ltd. has not yet achieved profitability, reporting a revenue of 168 million CNY with a net loss of 30.32 million CNY for the first three quarters of 2025 [3]. - The company anticipates a significant increase in VC sales, projecting 4,304 tons for 2024, a 472% year-on-year increase, and 2,793 tons for the first half of 2025, a 71.92% increase [2][3]. Home Textile Business - The home textile segment remains a stable revenue source, with Furui Co., Ltd. being a leading exporter in the industry, holding a production capacity of 60,000 tons of towels and maintaining partnerships with international brands [4][5]. - The company is expanding its global production capacity, including a strategic project in Egypt to mitigate trade barriers and reduce costs associated with U.S. tariffs [5]. Industry Trends - The overall market sentiment is positive, with the New China Consumption Overseas Index rising by 1.31%, driven by the performance of consumer stocks, including Furui Co., Ltd. [6].

Core Viewpoint - Furi Group has attracted significant attention in the A-share market, with its stock price experiencing a continuous rise, leading to a series of trading halts due to abnormal fluctuations. The surge is primarily driven by market interest in its lithium battery electrolyte additive business, despite the company warning of potential losses from its subsidiary, Shandong Furi New Energy Materials Co., Ltd. [1][3][5] Group 1: Stock Performance - As of November 12, Furi Group's stock price has hit the daily limit for five consecutive trading days [1] - The stock price increased by 19.7% in the week ending November 7, with a net inflow of 149 million yuan from major funds [1] - On November 10 and 11, the stock's closing price deviation exceeded 21.13%, indicating abnormal trading activity [1] Group 2: Business Operations - Furi New Energy reported a revenue of 168 million yuan for the first three quarters of 2025, marking a year-on-year increase of 47.78%, but incurred a net loss of 30.32 million yuan [3] - The company has successfully launched its VC refining and synthesis projects, achieving an annual production capacity of 10,000 tons [2] - Furi Group's main business in home textiles generated a revenue of 3.841 billion yuan and a net profit of 296 million yuan in the first three quarters [4] Group 3: Strategic Focus - The company is focusing on optimizing customer structure and upgrading product quality to strengthen its core home textile business amid global trade tensions [4] - In the domestic market, Furi Group is concentrating on demand exploration and brand enhancement through refined operations and high-end promotion [4]