Core Viewpoint - The company announced maintenance and equipment upgrades for its phosphate and zinc smelting facilities, with specific timelines for production resumption [1] Group 1: Company Operations - From January 2026, the Shifang Phosphate Chemical Division will undergo a one-month shutdown for maintenance on its phosphate series devices [1] - The Shifang Nonferrous Metals Division will implement a five-month shutdown for maintenance and upgrades on its zinc smelting devices, with production expected to resume in early June [1] - The phosphate series devices resumed full production on January 28, 2026, while the zinc smelting devices are progressing according to schedule [1]

宏达股份(600331.SH)发布2025年年度业绩预亏公告，预计2025年年度实现归属于母公司所有者的净利 润-7,000万元到-8,200万元，与上年同期(法定披露数据)相比，将出现亏损。 预计2025年年度实现归属于母公司所有者的扣除非经常性损益后的净利润-8,400万元到-9,600万元 ...

Group 1 - The chemical sector continues to show strong performance, with the chemical ETF (516020) experiencing a price increase of 1.03% and reaching a new high since July 2022 [1][8] - Key stocks in the sector, such as Dongfang Shenghong and Chuanfa Longmang, saw significant gains, with increases exceeding 6% [1][8] - The chemical ETF has attracted substantial investment, with net subscriptions of nearly 1.2 billion yuan over the last five trading days and over 1.45 billion yuan in the last ten days [10] Group 2 - Since the beginning of 2025, the chemical ETF's underlying index has achieved a cumulative increase of 58.91%, outperforming major A-share indices like the Shanghai Composite Index (23.4%) and the CSI 300 Index (19.51%) [3][10] - The chemical industry is currently at the bottom of a four-year down cycle, with indicators suggesting a potential turnaround in 2026 [12] - The China Chemical Product Price Index (CCPI) reported a significant decline of 39% from its peak in 2021, indicating that the industry is at historical low levels [12]

Core Viewpoint - Hongda Co., Ltd. (600331.SH) has announced a projected net loss for the fiscal year 2025, indicating a significant downturn compared to the previous year [1] Financial Performance - The company expects a net profit attributable to shareholders of the parent company to be between -70 million and -82 million yuan for 2025, marking a loss compared to the same period last year [1] - The projected net profit, excluding non-recurring gains and losses, is anticipated to be between -84 million and -96 million yuan [1]

Group 1 - The agricultural chemical sector increased by 1.05% on January 23, with Zhongqi Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 4136.16, up 0.33%, while the Shenzhen Component Index closed at 14439.66, up 0.79% [1] - Notable stock performances included Zhongqi Co., Ltd. with a closing price of 6.98, up 10.97%, and Zhongnong United with a closing price of 60.61, up 10.03% [1] Group 2 - The agricultural chemical sector experienced a net outflow of 258 million yuan from institutional investors, while retail investors saw a net inflow of 254 million yuan [2] - The top stocks by net inflow from retail investors included Chuanfa Longmang with a net inflow of 1.32 billion yuan and Chengxing Co., Ltd. with a net inflow of 8.44 million yuan [3] - The overall trading volume for the agricultural chemical sector was significant, with stocks like Chengxing Co., Ltd. and Dongfang Iron Tower recording high transaction amounts of 12.32 billion yuan and 11.16 billion yuan respectively [1][2]

格隆汇1月23日丨宏达股份(600331.SH)公布，经财务部门初步测算，预计2025年年度实现归属于母公司 所有者的净利润-7,000万元到-8,200万元，与上年同期(法定披露数据)相比，将出现亏损。预计2025年年 度实现归属于母公司所有者的扣除非经常性损益后的净利润-8,400万元到-9,600万元。 ...

Financial Performance - The company expects a net profit attributable to shareholders of the parent company for 2025 to be between -70 million and -82 million yuan, indicating a loss compared to the previous year [3]. - The projected net profit after deducting non-recurring gains and losses is expected to be between -84 million and -96 million yuan for 2025 [4]. - In the previous year, the total profit was 36.48 million yuan, with a net profit attributable to shareholders of 36.11 million yuan [6]. Market Conditions - The average selling price of synthetic ammonia for the company's subsidiary decreased by 298.27 yuan/ton, a decline of 12.22% compared to the previous year [9]. - The price of 0 zinc ingots dropped from 25,800 yuan/ton at the beginning of the year to a low of 21,950 yuan/ton in June, impacting profitability due to high production costs [8]. - The company faced significant losses in its natural gas chemical business due to increased competition and declining prices [9]. - The phosphate chemical business experienced a decline in profits due to low agricultural product prices and extreme weather affecting sales [9]. Strategic Initiatives - The company plans to enhance cost control and optimize production organization to cope with the challenging market environment [9]. - The company will continue to promote equipment updates and technological upgrades to improve production efficiency and risk resistance [9]. Financial Reporting - The financial data provided is preliminary and subject to change upon the release of the audited annual report [10].

每经AI快讯，1月23日，宏达股份（600331）(600331.SH)公告称，预计2025年归属于上市公司股东的净 利润为-7000万元到-8200万元，与上年同期相比将出现亏损。业绩变动原因：锌冶炼受价格下跌、成本 上升影响大幅亏损；天然气化工因合成氨价格下滑导致亏损；磷化工受农产品价格低迷、原料涨价等影 响利润下滑。 ...

Core Viewpoint - The company, Hongda Co., is expected to report a significant net loss for the year 2025, with projected losses ranging from 70 million to 82 million yuan, primarily due to challenges in its zinc smelting, natural gas chemical, and phosphate chemical segments [1]. Group 1: Zinc Smelting - The zinc smelting segment is facing pressure from increased domestic zinc production capacity and weakened downstream demand, leading to a decline in zinc product prices. The price of 0 zinc ingots dropped from 25,800 yuan per ton at the beginning of the year to a low of 21,950 yuan per ton in June [1]. - The company is experiencing a cost disadvantage as the production costs of products made from early-year inventory remain high, resulting in a situation where sales prices are lower than production costs [1]. - Despite rising prices for by-products like silver and copper, the significant increase in raw material costs continues to challenge the profitability of the zinc smelting business, leading to expected losses for the year [1]. Group 2: Natural Gas Chemicals - In the natural gas chemical sector, the company is facing increased competition due to a decline in coal prices, which has lowered production costs for ammonia producers, resulting in a rise in ammonia supply and a continuous drop in prices [1]. - The average selling price of ammonia from the company's subsidiary, Sichuan Mianzhu Chuanrun Chemical Co., decreased by 298.27 yuan per ton, representing a decline of 12.22% compared to the previous year [1]. - This competitive environment has led to significant losses in the company's natural gas chemical business for 2025 [1]. Group 3: Phosphate Chemicals - The phosphate chemical segment is impacted by low agricultural product prices and extreme weather conditions in key sales regions, leading to a cautious attitude among end-users and a decline in both sales volume and prices of compound fertilizers [1]. - The prices of key raw materials such as urea and potassium fertilizer have surged, resulting in increased production costs and a decrease in gross margins [1]. - Although the sales volume and prices of phosphate products saw a slight increase compared to the previous year, the tight supply of sulfur in the market has led to a significant price increase of 1,096 yuan per ton, or 103%, further raising production costs and reducing profitability in this segment [1].

Group 1 - The chemical sector continues to rise, with the Chemical ETF (516020) showing a 0.31% increase as of January 23 [1] - Key stocks in the sector include Dongfang Shenghong, Weixing Chemical, and Hongda Co., which have all seen gains exceeding 4% [1] - The Chemical ETF has attracted significant investment, with a net subscription amount close to 1.2 billion yuan over the last five trading days [2] Group 2 - Recent petrochemical projects have been included in the key engineering project list for 2026, providing strong support for the industry [3] - The National Development and Reform Commission has allocated special bonds to support energy-saving and environmental protection initiatives [3] - The chemical industry is entering a strategic window, with high-cost overseas marginal capacity exiting and a restructuring of the global chemical order [3] Group 3 - Analysts are optimistic about the chemical sector's recovery, driven by changes in corporate strategies and market dynamics [3] - Key areas of focus for investment include MDI, petrochemicals, phosphate chemicals, PVC, and polyester bottle chips [3] - The Chemical ETF (516020) is recommended as an efficient way to gain exposure to the sector, tracking the CSI sub-industry index [3]