业务运营层面，公司"一体两翼"产业格局成效显著。作为核心的无机盐产品(碳酸钾/碳酸氢钾)板块，上 半年实现收入3.49亿元，同比增长11.48%，毛利率20.42%，同比提升3.61个百分点。其中，轻质碳酸钾 因堆积密度小，比表面积大，溶解和反应速度快的优势，广泛应用于农药、食品、医药等高端领域；碳 酸氢钾在食品行业作为酸度调节剂以及在畜牧业缓解奶牛热应激等场景应用需求正逐步扩大。兽用原料 药板块表现尤为突出，盐酸氨丙啉产品收入9161.81万元，同比增加66.56%，毛利率40.12%，同比提升 6.23个百分点，该产品作为高效低毒抗球虫药，主要供应欧洲、美国、中东等市场，全球仅公司与美国 辉宝两家供应商，市场竞争力稳固。含氟精细化学品板块受市场需求波动影响，收入3724.17万元，同 比下降5.25%，但毛利率24.83%，同比提升2.58个百分点，产品涵盖2-氯-6-氟系列、氟苯等，广泛应用 于医药、农药及新材料领域。报告期内多个项目有序推进，为产品结构优化与市场份额提升奠定基础， 产能建设与项目拓展成为公司未来营收增长的重要支撑。报告期内，多个项目有序推进为产品结构优化 与市场份额提升奠定基础。 技术 ...

证券代码：600486 证券简称：扬农化工 编号：临 2025-031 江苏扬农化工股份有限公司 2025 年半年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。 本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》、《上市公司行业信息披露指引第十三号——化工》要求， 现将 2025 年半年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） | 销量（吨） | 营业收入（万元） | | --- | --- | --- | --- | | 原药 | 57,751.21 | 56,707.28 | 365,520.49 | | 制剂（不折百） | 25,456.62 | 28,106.62 | 117,053.34 | 二、主要产品和原材料的价格变动情况 （一）主要产品价格变动情况 | | 2025 年 1-6 月 | 2024 年 1-6 月 | | | --- | --- | --- | --- | | | 平均销售价格 | 平均 ...

Group 1 - The core issue involves shareholders Yang Xingli and his associates failing to timely notify the company of a 1% increase in their combined shareholding, violating regulations [1][2] - The combined shareholding of Yang Xingli, Yang Mingtai, and Yang Yuetong increased from 5.65% to 6.35% after buying 1.1795 million shares and selling 887,000 shares between February 24, 2025, and July 7, 2025 [1][2] - The stock price of Dayang Bio fluctuated significantly during the trading period, with a minimum price of 17.01 yuan per share and a maximum of 31.9 yuan per share, resulting in a price fluctuation of 69% [2] Group 2 - Dayang Bio's main business includes the production and sale of inorganic salts and veterinary raw materials [3] - The company expects a net profit of 45 million to 55 million yuan for the first half of the year, representing a year-on-year growth of 43.15% to 74.96%, driven by increased production, sales, and prices of potassium carbonate and veterinary raw materials [3] - The Zhejiang Securities Regulatory Bureau has mandated that the shareholders improve their understanding of relevant laws and regulations to prevent future violations [3]

Group 1: Market Overview - The total production capacity of the potassium carbonate industry in China is 290,000 tons, with an actual production of approximately 230,000 tons in 2024. The overall market demand is growing steadily at a rate of about 5%, although the growth rate is slightly slowing down [2]. - A company in Hubei is implementing a project to co-produce potassium carbonate from potassium hydroxide, which will increase supply capacity. This may impact the sales market in the short term despite some growth in application demand [5]. Group 2: Product Substitution and Pricing - Potassium carbonate is primarily used in food, pharmaceuticals, fertilizers, pesticides, oil and gas, construction materials, electronics, glass, rubber, and steel production. There is a price difference of 700-900 RMB per ton between heavy and light potassium carbonate, which can lead to substitution in high-end applications when the price difference exceeds this range [3]. - The price trend of hydrochloric acid aminopropyl is influenced by market and cost factors, and the company believes the current price fluctuations are within a reasonable range [10]. Group 3: Company Strategy and Development - The company is open to mergers and acquisitions to utilize industry resources for steady growth, adhering to risk control principles [4]. - The company plans to continue its "one body, two wings" development strategy, focusing on potassium salts while expanding into the fluorine industry and increasing its veterinary drug offerings [14]. Group 4: Production Capacity and Market Demand - The current production capacity for hydrochloric acid aminopropyl is 600 tons per year, operating at full capacity, with an additional 800 tons under construction expected to be completed by June next year [7]. - The demand for hydrochloric acid aminopropyl has increased this year, partly due to customers seeking to diversify suppliers amid geopolitical instability affecting a competitor's production [6]. Group 5: Competitive Landscape and Market Position - The company faces competition in the hydrochloric acid aminopropyl market primarily from itself and a competitor in Israel. New entrants face high technical barriers, and their impact on the market remains limited [8]. - The company has strategic investments in semiconductor technology through its stake in Zhejiang Xinzhichun Semiconductor Company, aiming to tap into high-tech sectors encouraged by national policies [19].

数据来源：聚源 昨日涨跌幅前五行业 | 行业名称 | 涨跌幅(%) | | --- | --- | | 石油石化 | 0.859 | | 银行 | -0.148 | | 传媒 | -0.483 | | 电子 | -0.590 | | 食品饮料 | -0.704 | | 数据来源：聚源 | | 2025 年 06 月 20 日 开源晨会 0620 ——晨会纪要 沪深300 及创业板指数近1年走势 -32% -16% 0% 16% 32% 48% 2024-06 2024-10 2025-02 沪深300 创业板指 昨日涨跌幅后五行业 | 行业名称 | 涨跌幅(%) | | --- | --- | | 纺织服饰 | -2.359 | | 美容护理 | -2.281 | | 轻工制造 | -1.962 | | 有色金属 | -1.918 | | 医药生物 | -1.856 | 数据来源：聚源 吴梦迪（分析师） wumengdi@kysec.cn 证书编号：S0790521070001 观点精粹 总量视角 【宏观经济】美联储内部的降息分歧有所扩大——6 月 FOMC 会议点评-20250619 美联储于北京时间 6 ...

相关研究报告 《聚酯瓶片工厂陆续宣布减停产计 划，价差有望迎来向上修复行情—行 业点评报告》-2025.6.17 《安全事故频出，化工拐点或渐行渐 近—化工行业周报》-2025.6.15 《海外SAF需求回暖，UCO-HVO/SAF 价格同步上涨 —行业点评报告》 -2025.6.13 地缘冲突加剧，关注盐酸氨丙啉供给端扰动 基础化工 2025 年 06 月 19 日 投资评级：看好（维持） 行业走势图 数据来源：聚源 -19% -10% 0% 10% 19% 29% 2024-06 2024-10 2025-02 基础化工 沪深300 ——行业点评报告 | 金益腾（分析师） | 蒋跨跃（分析师） | | --- | --- | | jinyiteng@kysec.cn | jiangkuayue@kysec.cn | | 证书编号：S0790520020002 | 证书编号：S0790523120001 | 盐酸氨丙啉：高效的抗球虫药物，主要应用于家禽、牛、羊等动物 盐酸氨丙啉是高效的抗球虫药物，是维生素 B1 的类似物。其作用机理是通过竞 争性抑制球虫对维生素 B1 的摄取，实现疗效，对于艾美尔属球虫的作 ...

Group 1 - Company announced an earnings briefing on May 13, 2025 [1] - Company is actively applying and exploring the expansion of artificial intelligence in its operations [2] - The company is in the construction phase of the trifluoroacetyl series product project, which is an important raw material in the organic chemical field [6][29] Group 2 - The company aims to strengthen its potassium salt position, expand the fluorine industry, increase veterinary drug varieties, and enhance R&D capabilities as part of its development strategy [9] - The company is currently focusing on the semiconductor materials sector through its investment in Chip Pure Semiconductor [17] - The company reported a significant increase in sales revenue for Q1 2025, with a year-on-year growth of 27.78% [40] Group 3 - The company is considering mergers and acquisitions as part of its strategic planning [7][8] - The company is committed to improving its market valuation and investor returns despite current low market capitalization [13][26][39] - The company is monitoring the impact of new U.S. tariff policies, noting that its export sales to the U.S. are relatively small and have not had a significant negative impact [38]

Group 1: Company Performance and Market Position - The company reported a significant increase in sales revenue in Q1 2025 compared to the same period last year, with stable order levels [7] - The design capacity for the trifluoroacetyl series project is set at 3,800 tons per year, currently under construction [10] - The company is recognized as a leading player in its industry, yet its market capitalization remains low due to various factors [9][15] Group 2: Strategic Initiatives and Future Plans - The company is actively exploring the application of artificial intelligence across various sectors [2] - Future development strategies include consolidating potassium salt positions, expanding fluorine chemical products, and enhancing veterinary drug varieties [3] - The semiconductor investment in Zhejiang Chip Pure is a strategic move to enter the semiconductor materials sector, with products expected to be launched by the end of 2025 [6][8] Group 3: Investor Relations and Market Communication - The company emphasizes the importance of maintaining communication with institutional investors to reflect its equity value [3] - There is a commitment to improving market value management and investor returns, despite the challenges faced [9][15] - The company plans to consider multiple profit distributions within a year, subject to regulatory encouragement [12][14]

证券代码：600486 证券简称：扬农化工 编号：临 2025-020 二、主要产品和原材料的价格变动情况 （一）主要产品价格变动情况 | | 2025 年 1-3 | 月 | 2024 年 | 1-3 月 | | | | --- | --- | --- | --- | --- | --- | --- | | | 平均销售价格 | | 平均销售价格 | | 价格变动情况 | | | | （万元/吨） | | （万元/吨） | | | | | 原药 | | 6.30 | | 6.91 | | -8.77% | | 制剂 | | 5.66 | | 5.75 | | -1.63% | （二）主要原材料价格波动情况 | | 2025 年 1-3 月 | 2024 年 1-3 月 | | | --- | --- | --- | --- | | | 平均采购价格 | 平均采购价格 | 价格变动情况 | | | （元/吨） | （元/吨） | | | 液碱 | 2,740 | 2,250 | 21.8% | | 液钾 | 2,770 | 3,025 | -8.4% | | 碳酸钾 | 5,960 | 6,257 | -4. ...