内容概要：氰尿酸作为生产氯代异氰尿酸类产品的重要原料，在水处理、消毒等领域的需求稳定，尤其 是近几年，随着我国环保监管日益趋严，水处理、环保等领域对氰尿酸需求增幅更加明显，此外，随着 国民生活水平的提高，对游泳池、热水浴缸等水质维护的要求也越来越高，氰尿酸作为有效的氯稳定 剂，其市场需求也与日俱增，庞大的市场需求带动我国氰尿酸行业市场规模持续扩容，据统计，2024年 我国氰尿酸行业市场规模达51.40亿元，同比增长17.80%。 上市企业：明大科技（870316.NQ） 相关企业：河北六合化工有限公司、河北冀衡化学股份有限公司、河北海达化工有限公司、邯郸市瑞邦 精细化工有限公司、濮阳恒德信新材料有限公司、内蒙古利康生物高科技有限公司、山东沃蓝生物集团 有限公司、山东兴达化工有限公司、鄄城康泰化工有限公司、聊城市德源环保科技有限公司 关键词：氰尿酸市场政策、氰尿酸产业链、氰尿酸市场规模、氰尿酸竞争格局、氰尿酸发展趋势 一、概述 氰尿酸又名异氰尿酸；三聚氰酸；1，3，5-三嗪-2，4，6-(1H，3H，5H)三酮；S-三嗪-2，4，6-三醇； 异氰脲酸；2，4，6-三(2'-羟基-4'-正丁氧基苯基)-1，3，5 ...

Core Viewpoint - Recently, Zhongyan Chemical announced a significant change in the equity structure of its subsidiary Zhongyan Alkali Industry, with PetroChina Taihu Investment Co., Ltd. planning to exit its stake, allowing Zhongyan Chemical to achieve 100% ownership and full control [1][2]. Group 1: Company Actions and Strategy - Zhongyan Chemical believes that this move will improve the structure of its soda ash industry and enhance its core competitiveness [1][4]. - The acquisition of the natural soda mining rights in Inner Mongolia is seen as a strategic step to optimize the company's product structure, as natural soda has advantages over synthetic soda in terms of energy consumption, cost, and environmental impact [4][6]. - Following the exit of Taihu Investment, Zhongyan Chemical will independently develop the natural soda mine, which raises questions about its capacity to manage the project alone [5][6]. Group 2: Financial and Operational Context - The company has faced declining performance over the past three years, with revenues dropping from 190.5 billion yuan in 2022 to an estimated 128.9 billion yuan in 2024, and net profits decreasing from 18.65 billion yuan to 5.19 billion yuan in the same period [6]. - The total investment for the natural soda mining rights was 6.809 billion yuan, and the company plans to implement a detailed financing strategy to support the project, including attracting strategic investors and utilizing bank loans [6][7]. - As of March 2025, the company's asset-liability ratio was 28.65%, indicating a relatively strong long-term debt repayment capability, although there are concerns about potential increases in this ratio affecting future operations [6][7]. Group 3: Industry Position and Market Dynamics - Zhongyan Chemical is the third-largest soda ash producer in China, with a production capacity of 3.9 million tons, and is part of a broader industry facing challenges such as oversupply and declining demand from downstream sectors [4][6]. - The domestic soda ash production capacity is projected to reach approximately 38.38 million tons in 2024, with a significant portion coming from ammonia soda and natural soda processes [6].

Core Viewpoint - Zhongyan Chemical (600328.SH) has successfully acquired a natural soda mining right in Inner Mongolia for approximately 6.8 billion yuan, aiming to strengthen its core soda ash business [2][3]. Group 1: Acquisition Details - Zhongyan Chemical won the bidding for the natural soda mining rights after a third party withdrew, allowing the company to fully own the asset [3][5]. - The mining site is located in Tongliao City, Inner Mongolia, with a natural soda resource estimated at 2.077 billion tons, making it the largest known soda mine in China [6][8]. - The acquisition aligns with the company's strategy to focus on its core business and expand its natural soda production capacity, which is not subject to strict industrial policy restrictions [6][8]. Group 2: Financial Position - As of March 2025, Zhongyan Chemical's debt-to-asset ratio is 28.65%, indicating a relatively low level of debt and strong medium to long-term repayment capability [9][10]. - The company has a history of profitable operations, with cumulative profits of 7.681 billion yuan and cash dividends of 2.364 billion yuan since its listing [10]. - To finance the acquisition, Zhongyan Chemical plans to explore various funding options, including attracting strategic investors, utilizing its own funds, bank loans, and capital market financing [10]. Group 3: Industry Position - Zhongyan Chemical is currently the third-largest soda ash producer in China, with a production capacity of 3.9 million tons [8]. - The company has a competitive edge due to its resource advantages, scale, and integrated industrial chain, which includes various chemical products [8]. - The development of the natural soda industry is expected to optimize the company's product structure and enhance its core competitiveness in the soda ash market [8].

山东键邦新材料股份有限公司 2025 年 1-3 月主要经营数据的公告 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。 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》有关规定和披露要求，现将山东键邦新材料股份有限公司（以下简 称"公司"）2025年1-3月主要经营数据披露如下： 一、主要产品的产量、销量及收入情况 证券代码：603285 证券简称：键邦股份 公告编号：2025-027 2025年1-3月公司营业收入为15,499.22万元，其中主营业务收入为15,205.88 万元，其他业务收入为 293.34 万元。公司主要产品产销情况如下： 注：上表中各分项数之和与合计数存在尾差是四舍五入造成。 二、主要产品和原材料的价格变动情况 | 类别 | 2025年1-3月平均单价 | 2024 | 年 1-3 | 月平均单价 | 同比变动幅 | | --- | --- | --- | --- | --- | --- | | | （元/吨） | | （元/吨） | | 度 | | 赛克 | 12,1 ...