Investment Rating - The investment rating for the chemical raw materials industry is optimistic (maintained) [1] Core Insights - The fluorochemical index increased by 7.76% during the week of December 22-26, outperforming the Shanghai Composite Index by 5.88% [6][25] - The market for fluorinated refrigerants is expected to continue its upward trend, with stable prices for fluorite and a potential recovery in the market [4][19] - Jinshi Resources plans to acquire a 15.7147% stake in Noah Fluorochemical, entering the liquid cooling sector [10][19] Summary by Sections Fluorochemical Market Overview - The average market price for fluorite (97% wet powder) was 3,290 CNY/ton as of December 26, remaining stable compared to the previous week [19][33] - The average price for December was 3,300 CNY/ton, down 10.13% year-on-year, while the average price for 2025 is projected at 3,481 CNY/ton, a decrease of 1.80% from 2024 [19][33] Refrigerant Pricing Trends - As of December 26, refrigerant prices were as follows: R32 at 63,000 CNY/ton, R125 at 47,500 CNY/ton, R134a at 58,000 CNY/ton, R410a at 54,000 CNY/ton, and R22 at 16,000 CNY/ton [21][24] - The external trade prices for these refrigerants remained stable, with R32 at 61,000 CNY/ton and R134a at 50,000 CNY/ton [21][24] Market Dynamics - The confidence of refrigerant companies and distributors in seasonal demand has increased, leading to price hikes for various refrigerant products [22][23] - The current low inventory levels are expected to drive further transactions and gradual price increases as demand recovers [23] Recommended Stocks - Recommended stocks include Jinshi Resources, Juhua Co., Sanmei Co., and Haohua Technology, with other beneficiaries being Dongyangguang, Yonghe Co., Dongyue Group, and Xinzhoubang [11][23]

Group 1 - The event "Intelligent Capital, Enjoy Health" was successfully held in Shenzhen, focusing on the health of professionals in the capital market, highlighting the importance of personal health as a valuable asset in a high-pressure environment [1][2] - Data indicates that nearly 40% of financial industry personnel work over 55 hours a week, with an alarming 84% of individuals over 60 showing abnormal carotid artery detection rates, emphasizing the need for better health management [1][2] - The event aimed to create a platform for sharing health management experiences and promoting a healthier work-life balance among industry professionals [1][2] Group 2 - The Securities Times South China Headquarters aims to be a key information dissemination platform and resource connector while also becoming a co-creator of a health ecosystem, integrating quality resources to support health management for professionals [2] - The concept of "invisible investment" in health management is emphasized, comparing it to long-term investment strategies in the capital market [2] - The event featured discussions on health management principles, including maintaining a positive mindset, balanced nutrition, adequate sleep, and moderate exercise as essential for sustaining professional vitality [3][4] Group 3 - The integration of traditional Chinese medicine and Western preventive medicine was discussed, promoting a scientific approach to health management that adapts to modern lifestyles [4] - Basic principles of health maintenance were outlined, including dietary balance, appropriate exercise, and regular sleep patterns, aimed at preventing health issues before they arise [4] - The event fostered an interactive environment for participants to share health insights and connect with quality resources, promoting a culture of health awareness in the industry [4]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 第2笔成交价格为20.43元，成交1,315.25万股，成交金额26,870.63万元，溢价率为-8.55%，买方营业部 为机构专用，卖方营业部为广发证券股份有限公司东莞长安证券营业部。 进一步统计，近3个月内该股累计发生11笔大宗交易，合计成交金额为7.16亿元。该股近5个交易日累计 上涨4.05%，主力资金合计净流出1.52亿元。 12月26日，东阳光收跌1.59%，收盘价为22.34元，发生2笔大宗交易，合计成交量2630.5万股，成交金 额5.37亿元。 第1笔成交价格为20.43元，成交1,315.25万股，成交金额26,870.63万元，溢价率为-8.55%，买方营业部 为机构专用，卖方营业部为广发证券股份有限公司东莞长安证券营业部。 责任编辑：小浪快报 ...

| 交易日期 | 证券調核 | 证券代码 | 成交价(元) 成交金额(万元) 成交量(*) 买入营业部 | | | | 类出管业部 | 是否为专场 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-12-26 | 东阳光 | 600673 20.43 | 26870,63 | 1315.25 | 机构专用 | 己要素能货商品站 | | 客 | | 2025-12-26 | 东阳光 | 20.43 600673 | 26870.63 | 1315.25 | 机构专用 | 콘受星者首荷菲達 | | Ka | 12月26日，东阳光大宗交易成交2630.5万股，成交额5.37亿元，占当日总成交额的44.05%，成交价20.43 元，较市场收盘价22.34元折价8.55%。 ...

Core Viewpoint - The report highlights the growth and production statistics of China's primary aluminum (electrolytic aluminum) industry, projecting a slight increase in production for 2025 and providing insights into investment opportunities within the sector [1]. Group 1: Industry Overview - As of October 2025, China's primary aluminum (electrolytic aluminum) production is expected to reach 3.8 million tons, reflecting a year-on-year growth of 0.4% [1]. - Cumulative production from January to October 2025 is projected to be 37.753 million tons, indicating a cumulative growth of 2% compared to the previous year [1]. Group 2: Companies Involved - Listed companies in the aluminum sector include China Aluminum (601600), Nanshan Aluminum (600219), Yun Aluminum (000807), Xinjiang Zhonghe (600888), Shenhuo Co. (000933), Zhongfu Industrial (600595), Jiaozuo Wanfang (000612), Dongyangguang (600673), Tianshan Aluminum (002532), and Minfa Aluminum (002578) [1]. Group 3: Research and Consulting - The report is published by Zhiyan Consulting, a leading industry consulting firm in China, which specializes in providing in-depth industry research reports, business plans, feasibility studies, and customized services [1].

Group 1 - 德方纳米 plans annual equipment maintenance to ensure efficient and stable operation, starting January 1, 2026, for one month, with no significant impact on 2026 performance [1] - 达意隆's subsidiary Tianjin Baolong faces a significant decline in OEM orders due to strategic adjustments from core customers, leading to plans to shut down production lines [2] - 天威视讯's subsidiary plans to transfer project assets for 604.3 million yuan to a related party, constituting a related transaction [3] Group 2 - 金龙羽 intends to sign a strategic cooperation framework agreement with an investment institution to establish an industrial merger fund with a planned scale of 1.5 billion yuan [4] - 紫光国微's subsidiary plans to establish a new company with multiple partners, including a subsidiary of CATL, with a registered capital of 300 million yuan [5] - 信隆健康's major shareholder plans to reduce its stake by up to 1% through trading [6] Group 3 - 龙建股份 wins a 612 million yuan EPC contract for a project, which represents approximately 3.27% of the company's audited revenue for 2024 [7] - 复旦张江 receives acceptance for a clinical trial application for a drug aimed at visualizing malignant lesions in lung cancer patients [9] - 博实股份's major shareholder plans to reduce its stake by up to 2.93% [10] Group 4 - 百纳千成 plans to acquire 100% of Zhonglian Century's shares to expand its marketing business and digital advertising solutions [11] - 天铁科技's major shareholder is under criminal detention, but the investigation is unrelated to the company's operations [12] - 海看股份's shareholder plans to reduce its stake by up to 3.6% [13] Group 5 - 智光电气's subsidiary signs a procurement contract worth 148 million yuan for a high-voltage energy storage system [14] - 西藏矿业's attempt to transfer 100% of a subsidiary's equity has not attracted qualified buyers, leading to automatic withdrawal from the trading platform [15] - 英诺激光's major shareholder plans to reduce its stake by up to 3% [16] Group 6 - 福鞍股份's major shareholder plans to reduce its stake by up to 3% [17] - 白云山 receives a drug registration certificate for a rabies vaccine [18] - 华电科工 signs a contract worth approximately 265 million yuan for a power plant project [19] Group 7 - 康弘药业 receives a drug registration certificate for a medication used to treat schizophrenia [20] - 西菱动力's actual controller plans to reduce their stake by 2% [21] - 海希通讯's actual controller plans to reduce their stake by 0.48% [22] Group 8 - 海南机场 plans to transfer 90% of a subsidiary's equity for approximately 500 million yuan, expecting a profit of about 200 million yuan from the transaction [23] - 森远股份 signs a contract for a computing cluster integration project worth 26.78 million yuan [24] - 丽珠集团's subsidiary receives acceptance for a drug registration application for a new treatment for psoriasis [25] Group 9 - 郑州银行 plans to acquire a village bank and convert it into a branch [26] - 方正证券 announces a cash dividend distribution plan for the third quarter of 2025 [27] - 金陵体育 announces a cash dividend distribution plan for the first three quarters of 2025 [29] Group 10 - 紫金银行 announces a mid-term profit distribution plan for 2025 [30] - *ST建艺's major shareholder waives 1.4 billion yuan in debt and donates 400 million yuan to support the company [31] - 万朗磁塑's major shareholder plans to reduce their stake by up to 3% [32] Group 11 - 艾力斯's core product is included in a list of potential breakthrough therapies for lung cancer [33] - 富创精密's shareholder plans to transfer 918.63 million shares [34] - 东阳光's subsidiary plans to increase capital and introduce investors [35] Group 12 - 侨银股份 plans to acquire a 16.67% partnership in a venture capital fund [36] - 尤夫股份 receives a government subsidy of 4.04 million yuan for a technical improvement project [37] - 倍轻松 and its actual controller are under investigation for information disclosure violations [38] Group 13 - 万润新能 plans to reduce production on some lines for maintenance, expecting a reduction of 5,000 to 20,000 tons in lithium iron phosphate output [39]

智通财经APP讯，东阳光(600673.SH)发布公告，公司的控股子公司乳源东阳光氟有限公司(简称"东阳光 氟")拟新增注册资本1088.8889万元，由兴银金融资产投资有限公司(简称"兴银投资")以7亿元全额认 购，公司及子公司乳源东阳光电化厂放弃本次增资的优先认购权。本次增资完成后，公司直接及间接持 有标的公司的股权比例由100%降至96.9828%，公司将继续作为标的公司的控股股东，仍然对标的公司 拥有实际控制权。 本次交易有利于进一步增强东阳光氟的资本实力、优化资本结构，降低资产负债率，促进其可持续高质 量发展，符合公司发展战略规划和长远利益，符合公司全体股东利益。本次增资完成后，东阳光氟仍是 公司的控股子公司，不会导致公司合并报表范围发生变化。 ...

Core Viewpoint - Dongyangguang (600673.SH) announced that its subsidiary, Luyuan Dongyangguang Fluorine Co., Ltd. (referred to as "Dongyangguang Fluorine"), plans to increase its registered capital by 10.888889 million yuan, with Xingyin Financial Asset Investment Co., Ltd. (referred to as "Xingyin Investment") fully subscribing to 700 million yuan [1] Group 1 - The company and its subsidiary, Luyuan Dongyangguang Electrochemical Plant, will waive their preferential subscription rights for this capital increase [1] - After the completion of this capital increase, the company's direct and indirect equity stake in the target company will decrease from 100% to 96.9828%, but the company will continue to be the controlling shareholder and maintain actual control over the target company [1] - This transaction is expected to enhance the capital strength of Dongyangguang Fluorine, optimize its capital structure, reduce the asset-liability ratio, and promote sustainable high-quality development, aligning with the company's strategic planning and long-term interests [1]

Group 1 - The company Dongyangguang (600673.SH) announced that its subsidiary, Luyuan Dongyangguang Fluorine Co., Ltd., plans to increase its registered capital by RMB 10.8889 million [1] - The capital increase will be fully subscribed by Xingyin Financial Asset Investment Co., Ltd. for RMB 700 million [1] - Following the capital increase, the company's direct and indirect ownership in the subsidiary will decrease from 100.0000% to 96.9828%, but it will remain the controlling shareholder [1]

| 证券代码：600673 | 证券简称：东阳光 东科 | 01 | | | | --- | --- | --- | --- | --- | | 债券代码：242444 | | | | | | | | | 编号：临 | | | | 债券简称：25 | | | | | | | | | 2025-71 号 | 广东东阳光科技控股股份有限公司 关于控股子公司增资扩股并引入投资者的公告 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。 重要内容提示： ● 广东东阳光科技控股股份有限公司（以下简称"公司"或"东阳光"） 的控股子公司乳源东阳光氟有限公司（"标的公司"或"东阳光氟"）拟新增注 册资本人民币 10,888,889 元（以下简称"本次增资"），由兴银金融资产投资有 限公司（以下简称"增资投资人"或"兴银投资"）以人民币 700,000,000 元全 额认购，公司及子公司乳源东阳光电化厂放弃本次增资的优先认购权（以下简称 "本次放弃权利"）。本次增资完成后，公司直接及间接持有标的公司的股权比 例由 100.0000%降至 96.9 ...