兄弟们，最近A股市场有点不平静啊。华银电力突然宣布上半年净利润暴增4423%，直接把股价拉了个76%的月涨幅，连带着整个预增板块都跟着火了一 把。这可不是个例，截至7月10号，已经有487家公司发了中报预告，其中126家预增超过100%，连天赐材料这种龙头都单月涨了45%。作为在财经圈混了20 年的老江湖，今天咱们就来聊聊这波预增行情，到底该怎么抓住机会，又该避开哪些坑。 今年预增股主要扎堆在三个方向：电子行业受益于AI爆发，工业富联的AI服务器营收涨了60%，芯动联科的MEMS传感器在军工订单里卖爆了；化工行业因 为产品涨价，先达股份的除草剂烯草酮涨到16万一吨，直接让利润翻了28倍；医药生物则是多肽药物需求激增，翰宇药业的利拉鲁肽注射液拿到FDA认证， 净利润暴增16倍。这三个方向既有政策支持，又有实实在在的业绩，是中长线布局的好选择。 风险提示：别被表面数据忽悠了 这里得给兄弟们提个醒，不是所有预增股都能买。比如渝开发虽然预增784%，但主要是靠卖子公司股权赚了2.4亿，扣非净利润可能还不如主业稳定的公 司。另外，像华银电力这种靠短期电力需求激增的公司，一旦天气转凉或者产能过剩，业绩可能马上变脸。还有些 ...

Core Viewpoint - Lier Chemical is expected to significantly increase its profitability in the first half of 2025, with a projected net profit of 265 million to 275 million yuan, representing a year-on-year growth of 185.24% to 196.00% due to rising prices and sales of its core product, glyphosate, alongside cost optimization efforts [1][2]. Group 1: Financial Performance - In 2023, Lier Chemical's revenue was 7.851 billion yuan, a decrease of 22.55% year-on-year, and the net profit was 604 million yuan, down 66.68% [2]. - In 2024, the company reported revenue of 7.311 billion yuan, a decline of 6.88% year-on-year, with a net profit of 215 million yuan, a drop of 64.34% [2]. - The company anticipates a strong recovery in 2025, with a significant increase in net profit driven by improved market conditions and strategic initiatives [2][3]. Group 2: Product and Market Dynamics - The price of glyphosate remains low, but the price of Lier Chemical's other core product, glufosinate, has rebounded from 23,500 yuan per ton in April 2025 to 25,500 yuan per ton by July 7, 2025, marking an increase of 8.5% [3]. - The company has expanded its market share in key regions such as Brazil and Argentina through a dual strategy of targeting large clients and overseas registrations [3]. - Domestic demand for glufosinate is rapidly increasing due to the promotion of genetically modified crops, supporting the company's production capacity growth [3]. Group 3: Capacity Expansion and Strategic Initiatives - Lier Chemical has established seven production bases in China, enhancing its competitive edge and ensuring a stable global supply chain [1][4]. - The company holds over 50% market share in glufosinate domestically and approximately 30% globally, benefiting from economies of scale [4]. - As of 2024, Lier Chemical's production capacities include 86,300 tons for active ingredients, 81,200 tons for formulations, and 123,500 tons for chemical products, with respective year-on-year growth rates of 43.4%, 36.2%, and 50.6% [4]. - The company is also pursuing acquisitions to further expand its industry chain, including a proposed acquisition of Shandong Huimeng Biotechnology Co., Ltd. [5].

Core Viewpoint - Guangxi Tianyuan Biochemical Co., Ltd. is undergoing a listing review on the Shenzhen Stock Exchange, aiming to raise 629.75 million yuan, and is recognized as a leading enterprise in the pesticide formulation industry with significant technological achievements [1]. Company Overview - The company specializes in the research, production, and sales of pesticide formulations, gradually becoming a leading domestic enterprise in this sector and one of the few with the capability to industrialize innovative pesticides [1]. - It has received two National Science and Technology Progress Awards, highlighting its commitment to innovation in non-patented, created, and high-efficiency pesticide formulations [1]. Financial Performance - The company's operating revenues for the reporting periods were 1.712 billion yuan, 1.774 billion yuan, and 1.750 billion yuan, indicating stable business performance [2]. - Net profits for the same periods were 162 million yuan, 229 million yuan, and 249 million yuan, reflecting a solid profit level [2]. Key Financial Metrics - Total assets as of December 31, 2024, are projected to be 1.618 billion yuan, up from 1.364 billion yuan in 2023 and 1.355 billion yuan in 2022 [3]. - The equity attributable to shareholders is expected to reach 960 million yuan in 2024, compared to 784 million yuan in 2023 and 697 million yuan in 2022 [3]. - The asset-liability ratio is projected to decrease to 44.59% in 2024 from 51.19% in 2023 and 63.18% in 2022, indicating improved financial stability [3]. Profitability and Efficiency - Projected net profit for 2024 is 248.36 million yuan, an increase from 228.35 million yuan in 2023 and 161.89 million yuan in 2022 [4]. - The basic earnings per share are expected to be 2.37 yuan in 2024, up from 2.18 yuan in 2023 and 1.39 yuan in 2022 [4]. - Research and development expenditure is projected to account for 4.24% of operating revenue in 2024, compared to 2.71% in 2023 and 2.53% in 2022, indicating a growing focus on innovation [4].

Core Viewpoint - The pesticide industry, crucial for food security, is under scrutiny as Tianyuan Biochemical Co., Ltd. initiates its IPO process amidst a challenging market environment marked by stagnant revenue growth and high reliance on distributors [1][3]. Financial Performance - Tianyuan Biochemical's revenue from 2022 to 2024 shows minimal growth, with figures of 1.71 billion, 1.77 billion, and 1.75 billion yuan respectively, while net profits increased from 161.63 million to 248.55 million yuan [3][4]. - The company's total assets grew from 1.35 billion yuan in 2022 to 1.62 billion yuan in 2024, with a notable decrease in asset-liability ratio from 63.18% to 44.59% [4]. - The sales revenue from distributors accounted for over 96% of total revenue during the same period, indicating a heavy dependence on this sales model [4][5]. Market Dynamics - The pesticide market is characterized by intense competition and product homogenization, leading to declining sales prices, particularly for herbicides, which fell by 18.26% from 2023 to 2024 [6][7]. - The average gross margin of Tianyuan Biochemical is lower than that of comparable companies, with a gross margin of 36.07% in 2024 compared to an industry average of 36.22% [8]. R&D and Innovation - The company has consistently invested less in R&D compared to industry peers, with R&D expense ratios of 2.53%, 2.71%, and 4.24% from 2022 to 2024, which is below the industry average [9][10]. - There is a significant gap between R&D expenses and sales expenses, with R&D costs amounting to 74.26 million yuan in 2024 compared to over 226 million yuan in sales expenses [10][11]. Regulatory and Legal Issues - Tianyuan Biochemical has faced legal challenges and administrative penalties, including fines for selling unregistered pesticide products, which raises concerns about internal governance and compliance [13][14]. - The company has unresolved property rights issues, with 11,432.79 square meters of real estate lacking proper documentation, posing risks of administrative penalties [14][15]. Investor Sentiment - Recent cash dividends totaling 221 million yuan have raised concerns among investors about the company's financial management, particularly in light of its IPO fundraising of approximately 630 million yuan [16].

6月23日至29日，证监会新增披露，杭州腾励传动科技股份有限公司（下称"腾励传动"）、江苏方意摩擦材料股份有限公司（下 称"方意股份"）、浙江华盛雷达股份有限公司（下称"华盛雷达"）、荣耀终端股份有限公司（下称"荣耀"）、兰升生物科技集团股 份有限公司（下称"兰升生物"）、宁波培源股份有限公司（下称"培源股份"）、紫光展锐（上海）科技股份有限公司（下称"紫光展 锐"）、宏泽（江苏）科技股份有限公司（下称"宏泽科技"）等8家公司进行了辅导备案。 IPO日报注意到，腾励传动曾于2024年7月撤回创业板上市申请，时隔一年再次辅导；方意股份6月22日刚刚定向增发融资6000万 元，现辅导备案；华盛雷达共经历了七轮融资，吸引了包括中信建投资本、维度资本、国民创投在内的多家知名投资机构；荣耀或 成中国第三家上市的智能手机巨头；国开金融、河北产业投资引导基金参投的兰升生物现估值17.52亿元；国内汽车减震器活塞杆领 域的隐形冠军遭遇增收不增利问题；紫光展锐有望冲击国产智能手机芯片第一股，公司投后估值已达700亿元左右；宏泽科技2024年 营业收入和净利润明显下滑。 AI制图 一年前创业板上市失败 腾励传动于2025年6月2 ...

将酵母细胞进行基因工程改造，改变其代谢通路之后，放入百升级的发酵罐。经过三五天的发酵周期， 从发酵液中分离出目标代谢产物，其产量可代替5万亩青蒿种植的提取量。自2013年起，利用酵母商业 化生产的青蒿素，正为发展中国家数以亿万计的疟疾患者作出贡献。 这是合成生物学早期最具代表性的案例。基因编辑技术带来了第三次生物学革命，被称作"上帝的手术 刀"，也是合成生物学最核心的工具。作为北京国际科技创新中心的重要组成部分，北京昌平区聚集的 120余家合成生物制造企业正在将这把"手术刀"打磨得愈发锋利，也将推动合成生物产业成为新质生产 力的关键引擎。 技术突破，为漫长选育与驯化进程"抄近道" 专注于基因编辑生物育种赛道的北京齐禾生物科技有限公司（以下简称齐禾生物），是昌平区合成生物 制造产业的代表企业之一。 "通过对基因的精准调控和改变，大豆中的油酸含量从20%多提高到了80%以上。"齐禾生物首席执行官 张蓓告诉记者，齐禾生物目前已实现对多种粮食及经济作物农艺性状和品质性状的精准改良，并在过去 四年中获得了五张植物基因编辑安全证书。 除了高油酸大豆，抗白粉病高产小麦、高产大豆、耐除草剂小麦及品质改良水稻等新品种，也通过一 ...

| 投资者关系活动类别 | 特定对象调研 分析师会议 | | --- | --- | | | 媒体采访 业绩说明会 | | | 新闻发布会 路演活动 | | | 现场参观  其他（反路演活动） | | 活动参与人员 | 万家基金：汪洋 | | | 国泰基金：邓时锋、丁小丹、钱晓杰 | | | 国海富兰克林：张瑞 | | | 平安养老：袁帅 | | | 长信基金：陈言午、黄振华 | | | 华宝基金：汤祺、张坤、袁银泉 | | | 沣谊投资：窦金虎 | | | 公司董事、副总经理：金逸中 | | | 公司董事会秘书、副总经理：张江山 | | | 公司证券事务代表：王英 | | 时间 | 2025 年 6 月 25 日-6 月 26 日 | | 地点 | 上海 | | 形式 | 反路演活动 一、公司的基本情况 | | | 公司成立于 1999 年，并于 2009 年上市，总部位于 浙江省台州市，是一家全球领先的含氟精细化学品制造 | | | 商，是行业内少数几家横跨无机及有机氟化工行业的企 | | 交流内容及具体问答记 | 业。以含氟技术为核心，公司已经覆盖的业务包括新型 | | 录 | 材料（新 ...

证券研究报告 | 北交所定期报告 | | --- | hyzqdatemark 2025 年 06 月 16 日 证券分析师 赵昊 SAC：S1350524110004 zhaohao@huayuanstock.com 王宇璇 SAC：S1350525050003 wangyuxuan@huayuanstock.com 国内农药价格有所分化，关注北交所农药行业领先企业颖泰生物 ——北交所消费服务产业跟踪第十八期（20250613） 投资要点： 请务必仔细阅读正文之后的评级说明和重要声明 源引金融活水润泽中华大地 内容目录 | 1. | 国内农药价格有所分化，静待价格走出周期低谷 | 4 | | --- | --- | --- | | 1.1. | 全球农药市场稳中有升，中国原药产量居世界前列 4 | | | 1.2. | 北交所企业：颖泰生物—位列国内农药销售百强榜前十 | 7 | | 2. | 总量：北交所消费服务股股价涨跌幅中值-1.81% | 11 | | 3. | 行业：泛消费产业市盈率 中值+16.93%至 TTM 78.5X | 13 | | 4. | 公告：锦波生物成为服贸基金二期的有限合伙人 ...

2025 年 6 月 5 — 7 日，巴斯夫以"'碳'路同行，创新共赢"为主题，再次亮相上海国际碳中和技 术、产品与成果博览会（简称"上海碳中和博览会"）。此次参展围绕新能源、新原料、新技术三大 板块，分享巴斯夫迈向 2050 年碳净零排放的最新进展、创新低碳技术，以及与产业链伙伴共创的 解决方案。 "在今年的上海国际碳中和博览会上，我们全面展示巴斯夫的低碳技术与解决方案，以创新共赢携手 产业链伙伴，同赴低碳未来。"巴斯夫大中华区董事长兼总裁楼剑锋博士在活动现场表示："今年是 巴斯夫在华 140 周年；百多年来，我们始终以创新和可持续，引领产业发展，助力绿色转型。如 今，中国不仅是巴斯夫投资的聚焦点，更是我们实践绿色增长的发力点。" 2024 年，巴斯夫发布全新"制胜有道"企业战略。一方面，公司将继续致力于 气候保护目标的达 成，推动自身运营的 碳减排 。另一方面，巴斯夫也将更加专注于具有可持续属性的产品，满足客户 快速增长的需求。公司设定了相应 目标：到 2030 年，将"可持续未来解决方案"在全球销售额占比 从 2023 年的 41% 提高到 50% 以上；为客户提供的循环解决方案（" Loop "产品组 ...

2025 年 6 月 5 — 7 日，巴斯夫以"'碳'路同行，创新共赢"为主题，再次亮相上海国际碳中和技 术、产品与成果博览会（简称"上海碳中和博览会"）。此次参展围绕新能源、新原料、新技术三大 板块，分享巴斯夫迈向 2050 年碳净零排放的最新进展、创新低碳技术，以及与产业链伙伴共创的 解决方案。 "在今年的上海国际碳中和博览会上，我们全面展示巴斯夫的低碳技术与解决方案，以创新共赢携手 产业链伙伴，同赴低碳未来。"巴斯夫大中华区董事长兼总裁楼剑锋博士在活动现场表示："今年是 巴斯夫在华 140 周年；百多年来，我们始终以创新和可持续，引领产业发展，助力绿色转型。如 今，中国不仅是巴斯夫投资的聚焦点，更是我们实践绿色增长的发力点。" 2024 年，巴斯夫发布全新"制胜有道"企业战略。一方面，公司将继续致力于 气候保护目标的达 成，推动自身运营的 碳减排 。另一方面，巴斯夫也将更加专注于具有可持续属性的产品，满足客户 快速增长的需求。公司设定了相应 目标：到 2030 年，将"可持续未来解决方案"在全球销售额占比 从 2023 年的 41% 提高到 50% 以上；为客户提供的循环解决方案（" Loop "产品组 ...