11月21日，丽臣实业跌5.06%，截至发稿，报21.94元/股，成交2723.57万元，换手率1.30%，总市值 28.56亿元。 资料显示，湖南丽臣实业股份有限公司位于湖南省长沙市泉塘街道社塘路399号，成立日期1981年6月19 日，上市日期2021年10月15日，公司主营业务涉及表面活性剂和洗涤用品的研发、生产及销售。主营业 务收入构成为：表面活性剂94.05%，洗涤用品4.84%，其他业务1.11%。 从丽臣实业十大流通股东角度 招商量化精选股票发起式A（001917）基金经理为王平。 截至发稿，王平累计任职时间15年157天，现任基金资产总规模212.47亿元，任职期间最佳基金回报 272.68%， 任职期间最差基金回报-70.61%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 数据显示，招商基金旗下1只基金位居丽臣实业十大流通股东。招商量化精选股票发起式A（001917） 三季度新进十大流通股东，持有股数171.18万股，占流通股的 ...

黄生鹏累计任职时间1年303天，现任基金资产总规模3706.14万元，任职期间最佳基金回报53.93%， 任 职期间最差基金回报8.19%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 11月21日，晨化股份跌5.06%，截至发稿，报11.64元/股，成交5911.13万元，换手率3.08%，总市值 25.03亿元。 责任编辑：小浪快报 资料显示，扬州晨化新材料股份有限公司位于江苏省宝应县淮江大道999号，成立日期1995年5月12日， 上市日期2017年2月13日，公司主营业务涉及以氧化烯烃、脂肪醇、硅氧烷等为主要原料的精细化工新 材料系列产品的研发、生产和销售。主营业务收入构成为：表面活性剂81.58%，阻燃剂11.11%，硅橡 胶6.48%，其他(补充)0.83%。 从基金十大重仓股角度 数据显示，兴华基金旗下1只基金重仓晨化股份。兴华景和混合发起A（024499）三季度持有股数13.02 万股，占基金净值比例为4.17%，位居第八大重仓股。根据测算，今日浮亏损 ...

Group 1: Company Overview - Zanyu Technology Group is a high-tech enterprise specializing in the research and manufacturing of surfactants, fatty chemical products, and personal care products (OEM/ODM processing) [2] - The company has become a leading enterprise in the domestic research and production of surfactants and fatty chemical products [2] - The headquarters is located in Hangzhou, with production bases in multiple locations including Zhejiang, Jiangsu, Sichuan, Henan, Guangdong, and Indonesia [2] Group 2: Production Capacity - Annual production capacity for surfactants exceeds 1.2 million tons [2] - Annual production capacity for fatty chemical products exceeds 1 million tons [2] - OEM/ODM processing capacity for personal care products reaches 1.1 million tons [2] Group 3: Product Applications - Surfactants are primarily used in detergents, cosmetics, food processing, and textile dyeing industries [3] - Fatty chemical products are applied in plastics, rubber, textiles, daily chemicals, leather, paper, and oil fields, indicating a broad market potential [3] Group 4: Export Markets - The company's export business targets countries and regions along the "Belt and Road," RCEP, the African Free Trade Area, and Latin America [3] Group 5: Raw Material and Cost Management - Key raw materials include palm oil, C12-14 alcohol, alkylbenzene, and olefins, with price fluctuations impacting production costs [4] - The company has implemented a pricing model adjustment and commodity hedging to mitigate the impact of raw material price volatility on performance [4] Group 6: Future Strategy - The company aims to enhance its market share and competitiveness by focusing on surfactants, fatty chemical products, and personal care products, while leveraging technological innovation and supply chain management [4] - The goal is to become a globally outstanding chemical manufacturing service provider [4]

Core Viewpoint - China Sanjiang Chemical (02198) saw a stock price increase of over 5%, reaching HKD 2.83 with a trading volume of HKD 7.1971 million, following the announcement of a price hike in organic silicon DMC to RMB 13,200 per ton, an increase of approximately RMB 200 per ton from before the meeting [1] Company Summary - China Sanjiang Chemical is primarily engaged in the production and supply of ethylene oxide, ethylene glycol, polypropylene, and surfactants [1] - The company's main products include ethylene oxide, ethylene glycol, polypropylene (PP), surfactants, water-reducing agents, methyl tert-butyl ether/carbon four (MTBE/C4), and crude pentene, among others [1] - The company also provides processing services for polypropylene, methyl tert-butyl ether, and surfactants, and produces and supplies other chemical products, including carbon four, unprocessed pentene, and industrial gases such as oxygen, nitrogen, and argon [1] - The company operates in both domestic and international markets [1] Industry Summary - According to CITIC Securities, the chemical industry has experienced a decline in profitability for three consecutive years since 2022, with some sectors facing intense competition and overall industry losses [1] - In response to the domestic "anti-involution" initiative, multiple industries are actively promoting self-discipline to restore product supply-demand balance, boost product prices, and enhance industry profitability [1]

Group 1 - China Sanjiang Chemical (02198) saw a stock increase of over 5%, currently up 5.6% at HKD 2.83, with a trading volume of HKD 7.1971 million [1] - The price of organic silicon DMC has been raised to RMB 13,200 per ton, an increase of approximately RMB 200 per ton compared to before the recent meeting [1] - Since 2022, the chemical industry has experienced a continuous decline in profitability for three consecutive years, with some sectors facing intense competition and overall industry losses [1] Group 2 - Multiple industries have actively responded to the domestic "anti-involution" initiative, promoting industry self-discipline to restore product supply-demand balance, increase product prices, and enhance industry profitability [1] - China Sanjiang Chemical primarily engages in the production and supply of ethylene oxide, ethylene glycol, polypropylene, and surfactants, among other chemical products [1] - The company also provides processing services for polypropylene, methyl tert-butyl ether, and surfactants, and produces other chemical products including C4, unprocessed pentene, and industrial gases such as oxygen, nitrogen, and argon [1]

11月19日，晨化股份盘中下跌2.02%，截至10:41，报12.10元/股，成交3129.46万元，换手率1.59%，总 市值26.02亿元。 资金流向方面，主力资金净流出216.29万元，大单买入202.03万元，占比6.46%，卖出418.32万元，占比 13.37%。 晨化股份今年以来股价涨23.46%，近5个交易日涨1.00%，近20日涨6.42%，近60日跌7.49%。 资料显示，扬州晨化新材料股份有限公司位于江苏省宝应县淮江大道999号，成立日期1995年5月12日， 上市日期2017年2月13日，公司主营业务涉及以氧化烯烃、脂肪醇、硅氧烷等为主要原料的精细化工新 材料系列产品的研发、生产和销售。主营业务收入构成为：表面活性剂81.58%，阻燃剂11.11%，硅橡 胶6.48%，其他(补充)0.83%。 晨化股份所属申万行业为：基础化工-化学制品-其他化学制品。所属概念板块包括：有机硅、电解液、 磷化工、新材料、小盘等。 截至11月10日，晨化股份股东户数1.57万，较上期增加9.03%；人均流通股10269股，较上期减少 8.28%。2025年1月-9月，晨化股份实现营业收入6.53亿元，同比 ...

机构持仓方面，截止2025年9月30日，宝莫股份十大流通股东中，长城安心回报混合A（200007）位居 第八大流通股东，持股262.52万股，为新进股东。长城行业轮动混合A（002296）退出十大流通股东之 列。 融券方面，宝莫股份11月17日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00 元；融券余量400.00股，融券余额2432.00元，超过近一年60%分位水平，处于较高位。 资料显示，山东宝莫生物化工股份有限公司位于山东省东营市东营区西四路624号，成立日期1996年5月 3日，上市日期2010年9月15日，公司主营业务涉及聚丙烯酰胺、表面活性剂及相关化学品研发、生产、 销售及技术服务以及光伏发电等业务。主营业务收入构成为：油田用化学品88.91%，环保水处理 6.80%，非油田用化学品3.99%，其他(补充)0.30%。 11月17日，宝莫股份跌3.95%，成交额1.72亿元。两融数据显示，当日宝莫股份获融资买入额1641.14万 元，融资偿还2929.48万元，融资净买入-1288.33万元。截至11月17日，宝莫股份融资融券余额合计2.74 亿元。 截至11月10日， ...

01 问询 根据申请文件：公司电池电解液添加剂产品2023年、2024年毛利率持续为负，其他类产品2024年毛利率为负。 请发行人：区分表面工程化学品、新能源电池材料、特种表面活性剂、其他类产品的细分产品（下同），说明报告期内销售的负毛利率产品的具体情况、 毛利率为负的原因，对应的原材料、库存商品等各类存货减值测试的具体过程，存货跌价准备计提是否充分。 【公司简介】武汉吉和昌新材料股份有限公司主要从事表面与界面处理相关特种功能性材料的研发、生产和销售。 02 回复 （一）区分表面工程化学品、新能源电池材料、特种表面活性剂、其他类产品的细分产品（下同），说明报告期内销售的负毛利率产品的具体情况、毛利 率为负的原因 进一步分析，报告期内，公司自产锂电池电解液添加剂销量、单价和平均成本、毛利率情况如下： 锂电池电解液添加剂2023年度、2024年度毛利率为负的原因系但随着行业内新增产能的逐步释放，电解液添加剂行业逐步出现供大于求的状况，市场阶段 性供需失衡带来的市场竞争加剧以及下游企业成本控制传导导致产品价格快速下降，尽管公司不断提升内部管理效率以及规模效应，但锂电池电解液添加 剂产品毛利率仍出现为负数的情形。 由 ...

截至发稿，崔涛累计任职时间2年162天，现任基金资产总规模1.6亿元，任职期间最佳基金回报 25.69%， 任职期间最差基金回报-6.1%。 黄生鹏累计任职时间1年295天，现任基金资产总规模3706.14万元，任职期间最佳基金回报53.93%， 任 职期间最差基金回报6.55%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 数据显示，兴华基金旗下1只基金重仓晨化股份。兴华景和混合发起A（024499）三季度持有股数13.02 万股，占基金净值比例为4.17%，位居第八大重仓股。根据测算，今日浮盈赚取约7.94万元。 兴华景和混合发起A（024499）成立日期2025年6月12日，最新规模2514.21万。成立以来收益25.9%。 兴华景和混合发起A（024499）基金经理为崔涛、黄生鹏。 11月13日，晨化股份涨5.09%，截至发稿，报12.59元/股，成交9193.70万元，换手率4.63%，总市值 27.07亿元。 资料显示，扬州晨化新材料股 ...

Group 1: Company Overview - The company operates in the fine chemical sector, focusing on the R&D, production, and sales of surfactants and cleaning products, with production bases in Changsha, Shanghai, and Dongguan [1][2] - Annual production capacity exceeds 600,000 tons for surfactants and approximately 250,000 tons for cleaning products [1][2] - In Q3 2025, the company achieved a revenue of 1.27 billion RMB, a year-on-year increase of 41.97%, and a net profit of 45.43 million RMB, up 90.85% [1] Group 2: Market Position - The company is a pioneer in the surfactant industry, being one of the first to collaborate with foreign chemical enterprises and to introduce advanced sulfonation equipment [2] - The proprietary surfactant brand "AW" is recognized as a famous trademark in China, with significant market share and sales volume [2] Group 3: Market Share Maintenance and Growth Strategies - The company aims to enhance its influence in Central, East, and South China while expanding its reach nationally and internationally [3] - Strategies include cost control, production efficiency improvements, and continuous technological innovation to maintain product competitiveness [3] Group 4: Future Strategic Development - The core business remains focused on surfactant R&D, production, and sales, with an emphasis on building a diverse product matrix and expanding application fields [4] - The company is also considering mergers and acquisitions to accelerate business layout and upgrades [4] Group 5: International Business Performance - In 2024, the company reported total revenue of 3.649 billion RMB, with export revenue of 600 million RMB, accounting for 16.45% of total revenue [5] - For the first half of 2025, total revenue was 2.210 billion RMB, with export revenue of 418 million RMB, representing 18.93% of total revenue, indicating strong growth in overseas sales [5]