截至2025年7月4日收盘，新 和 成(002001)报收于21.8元，下跌1.36%，换手率1.04%，成交量31.71万 手，成交额6.93亿元。 董秘： 尊敬的投资者您好！公司高度重视投资者关系管理工作，通过实地调研、电话会议、参加策略 会、投资者热线、互动易等多种方式与投资者保持沟通和交流，公司也更为主动地向投资者传递价值理 念，了解投资者对公司经营发展的看法和建议，引导投资者主动关注公司的公告、新闻等官方渠道信 息，不断完善公司与投资者的双向沟通机制。公司将持续积极主动向市场传递公司的价值理念，更进一 步倾听股东和投资者的声音，重视投资者的建议和诉求，构建与投资者良好互动的生态，为投资者创造 长期价值，更好地服务和回报投资者。谢谢！ 投资者： 您好，想请问下贵公司各类维生素（VA、VE、VD3等）的单位生产成本区间是多少，谢谢！ 董秘： 尊敬的投资者您好！该信息属公司机密。谢谢！ 董秘最新回复 投资者： （如在实施权益分派的股权登记日前公司总股 发生变动的，维持分配总额不变，相应调整每 股分配比例。）新和成的管理层，好好的向梅花生物学习一下分红方式和分红比例回报中小股东 董秘： 尊敬的投资者您好！感 ...

Vitamin Sector - The vitamin sector is expected to benefit from price increases in 2024 and Q1 2025, with revenue projected to grow by 22.5% and net profit by 162.6% year-on-year in 2024 [1] - In Q1 2025, revenue and net profit are anticipated to continue their upward trend, with increases of 10.8% and 110.3% year-on-year, respectively [1] - The demand for feed-grade vitamins remains rigid, and certain concentrated supply structures are expected to support price increases for products like Vitamin E, D3, and folic acid [1] Fine Chemicals Sector - The fine chemicals sector is projected to outperform the basic chemicals sector in 2024 and Q1 2025, with a decline of only 4.2% in 2024 compared to a 5.1% drop in basic chemicals [2] - By the end of Q1 2025, the fine chemicals index is expected to rebound to 6905.55 points, reflecting an 8.5% increase year-to-date, surpassing basic chemicals by 2.4 percentage points [2] - The fine chemicals industry benefits from relatively inelastic downstream demand and high production barriers, making it more resilient during downturns and more elastic during recoveries [2] Amino Acids Sector - The amino acids sector is forecasted to see revenue growth of 8.9% and net profit growth of 55.0% in 2024, driven by recovering demand and lower raw material costs [3] - In Q1 2025, the sector is expected to continue benefiting from lower corn prices and increased export demand, with revenue and net profit projected to rise by 9.0% and 74.6% year-on-year, respectively [3] - Notably, methionine prices are anticipated to rise due to low channel inventory and market expectations, presenting potential opportunities for price increases [3] Pesticides Sector - The pesticides sector is showing signs of a cyclical rebound from 2024 to Q1 2025, despite an overall oversupply in 2024 leading to a revenue decline of 2.3% and a net profit drop of 73% [4] - In Q1 2025, certain pesticide products are expected to experience rapid price increases due to temporary supply-demand imbalances, resulting in a revenue increase of 4.5% and a net profit increase of 57.2% year-on-year [4] - Future price increases may be driven by strong demand for specific crops and supply constraints due to uncontrollable factors [4] Sweeteners Sector - The sweeteners sector is projected to show resilience in revenue with a 2.1% increase in 2024, although net profit is expected to decline by 32.5% due to price drops in core products [5] - In Q1 2025, revenue is anticipated to grow by 7.1% and net profit by 81.1%, benefiting from price increases initiated in late 2024 and ongoing demand for functional sugars [5] - The sector may see further price increases for sucralose and potential growth opportunities following the approval of natural sweetener allulose in the domestic market [5]

Investment Rating - The report maintains an "Outperform the Market" rating for the company [4][20][6] Core Views - The company's first-quarter net profit reached a historical high, with a revenue of 5.44 billion yuan, representing a year-on-year growth of 20.91% and a net profit of 1.88 billion yuan, up 116.18% year-on-year [1][9] - The profitability is supported by a decrease in expense ratios and a sustained high level of R&D investment, with a gross margin of 46.70% and a net margin of 34.70% in the first quarter [1][9] - The methionine market is experiencing price increases, with the average price in 2024 rising by 14.01% compared to 2023, positively impacting the company's performance [2][11] - The company is expanding its production capacity, with a total methionine capacity expected to reach 460,000 tons per year, positioning it as the third-largest globally [2][16] Financial Performance - The company achieved a net profit of 1.88 billion yuan in Q1 2025, with a year-on-year growth of 116.18% and a slight quarter-on-quarter increase of 0.05% [1][9] - The R&D expense ratio was 4.72%, indicating a commitment to innovation and development [1][9] - The forecasted net profits for 2025-2027 are 6.49 billion, 7.09 billion, and 7.62 billion yuan respectively, with corresponding earnings per share of 2.11, 2.31, and 2.48 yuan [4][20] Market Trends - The prices of vitamins A and E are under pressure, while vitamin D3 prices are on the rise, contributing to the overall performance of the company [3][18] - The methionine market is expected to continue benefiting from rising prices and increased production capacity, supporting the company's growth trajectory [2][16]

【导读】创新药板块继续狂飙，"白色黄金"涨价，兄弟科技、尔康制药直线涨停中国基金报记者 安曼4 月24日早盘，国际金价强势反弹，市场再度进入避险情绪。截至发稿，A股三大主要指数在反复震荡中 翻红。农业、保险、化工、煤炭等板块领涨，前期高位股持续退潮。 | 上证指数 | 深证成指 | 北证50 | | --- | --- | --- | | 3311.49 | 9954.70 | 1354.89 | | | +15.14 +0.46% +18.91 +0.19% -6.66 -0.49% | | | 科创20 | 创业板指 | 万得全A | | 1010.52 | 1955.38 | 4980.95 | | | -2.12 -0.21% +6.22 +0.32% +10.55 +0.21% | | | 代码 | 名称 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | | 301509 | 我们带着 | 31.48 | 5.25 | 20.02% | | 002821 | 凯莱英 | 73.77 | 6.71 | 10.01% | | 688331 | 荣昌生物 ...