Investment Rating - Industry Rating: Overweight [2] Core Insights - The chemical industry is experiencing a dual drive of cyclical recovery and growth, with a recommendation to focus on sectors such as organic silicon, PTA, polyester filament, caprolactam, spandex, vitamins, sweeteners, refrigerants, and phosphorus chemicals [5][6] - The organic silicon industry is entering a recovery phase, with new applications becoming key growth drivers. From 2019 to 2024, domestic DMC capacity is expected to expand rapidly, leading to a temporary oversupply and price decline. However, by 2025, no new capacity is anticipated, and demand from emerging sectors like new energy vehicles and photovoltaics is expected to maintain high growth [5][6] - The PTA/polyester filament industry is approaching a turning point, with capacity expansion cycles nearing their end. The demand side is expected to continue growing, supported by improved external demand due to easing trade tensions [6] - Refrigerants are entering a high prosperity cycle due to quota policies that will reduce supply while demand remains stable, driven by market expansion in Southeast Asia and the development of heat pumps and cold chain markets [7] - The synthetic biology sector is poised for significant growth as fossil-based materials face disruptive challenges, with a focus on energy-efficient products and the potential for bio-based materials to see explosive demand [8] - OLED technology is rapidly penetrating various markets, with government policies supporting the development of new display industries and accelerating the localization of key materials and equipment [9] - The demand for electronic chemicals is increasing due to the rapid growth of the semiconductor industry, particularly in China, where the market is heavily reliant on imports [11] Summary by Sections Industry Performance - The chemical sector ranked 4th in overall performance for the week of January 19-23, 2026, with a gain of 7.29%, outperforming the Shanghai Composite Index by 6.45 percentage points [5][20] - The top-performing sub-sectors included textile chemical products (13.10%), nitrogen fertilizers (10.58%), and other chemical raw materials (10.09%) [21] Key Company Dynamics - The top three gaining companies for the week were Jianghua Micro (46.41%), Jiuding New Materials (28.47%), and Hongbaoli (26.73%) [26] - The companies in focus for potential investment include KaiSai Biological, Huaheng Biological, and other leading firms in synthetic biology and electronic chemicals [8][11][32] Industry Developments - The Ministry of Industry and Information Technology has issued guidelines for the construction of zero-carbon factories, aiming to establish a benchmark by 2027 across various sectors [35] - The U.S. government plans to finalize the 2026 biofuel blending quotas, maintaining high growth targets while addressing industry concerns [35]

Investment Rating - The industry rating is "Strongly Outperform the Market," indicating that the overall return of the industry is expected to exceed the market benchmark index by more than 5% in the next 6 months [44]. Core Insights - The Wind New Materials Index closed at 6029.22 points, reflecting a week-on-week increase of 4.32%. The semiconductor materials index rose by 0.14%, while the organic silicon materials index increased by 4.15% [3][10]. - DRAM prices have surged by over 10% due to AI demand, with predictions of a 55-60% increase in contract prices for the first quarter. This trend is driven by strong contract price increases and the growing need for advanced memory products for AI servers [4][25][26]. - Newhan New Materials announced a cash acquisition of 51% of Hai Rui Te Engineering Plastics Co., Ltd. for 12.8826 million yuan, enhancing its position in the PEEK resin market [4][29]. Market Overview - The semiconductor materials sector is experiencing rapid domestic production acceleration, with significant expansion in downstream wafer factories. Companies like Tongcheng New Materials are making strides in import substitution [4][25]. - The demand for high-performance materials is expected to grow as domestic manufacturing upgrades continue, positioning the new materials industry for rapid development [4][25]. - The photovoltaic and wind power sectors are thriving under the carbon neutrality initiative, with recommendations to focus on upstream raw material companies like Hosheng Silicon Industry and Lianhong New Technology [4][25].

Investment Rating - The report maintains a strong rating for the chemical industry, indicating a positive outlook for the sector [5]. Core Insights - The chemical sector has shown resilience with the CITIC Basic Chemical Index rising by 5.73% and the Shenwan Chemical Index increasing by 7.29% this week [13][16]. - Key sub-industries such as soda ash, chlor-alkali, and dyeing chemicals have experienced significant price increases, with soda ash rising by 13.3% [16]. - The report highlights the competitive strength of domestic tire manufacturers and suggests focusing on companies like Sailun Tire and Linglong Tire as potential growth opportunities [4]. - The polyurethane project by Huide Technology, with an annual production capacity of 600,000 tons, has commenced, indicating strategic growth in the new materials sector [3]. - The report emphasizes the tightening supply-demand dynamics in the phosphate chemical sector due to environmental regulations and increasing demand from the new energy sector [4]. Summary by Sections Market Overview - The Shanghai Composite Index increased by 0.84%, while the ChiNext Index decreased by 0.34% [13]. - The overall performance of the chemical sector is positive, with notable gains in various sub-industries [16]. Key Sub-Industry Developments - **Polyurethane**: The price of pure MDI in East China is reported at 17,600 RMB/ton, showing a week-on-week decline of 1.12% [28]. - **Tires**: The operating load for all-steel tires in Shandong is at 62.70%, reflecting a year-on-year increase of 20.70% [49]. - **Fertilizers**: Urea prices are at 1,757.45 RMB/ton, with a week-on-week decrease of 0.4% [63]. - **Vitamins**: The price of Vitamin A is reported at 61.5 RMB/kg, down 1.6% week-on-week [79]. Investment Themes - **Tire Sector**: Domestic tire companies are positioned strongly, with a focus on growth stocks [4]. - **Consumer Electronics**: Recovery in demand is anticipated, benefiting upstream material companies [4]. - **Phosphate Chemicals**: Supply constraints due to environmental policies are expected to tighten the market [4]. - **Vitamin Supply**: Supply disruptions in Vitamin A and E are noted, creating potential investment opportunities [4].

（记者 王晓波） 每经头条（nbdtoutiao）——地方国资开始"抄底"法拍房！单价六七千元"扫货"广州南沙区超60套房 源，同小区二手房挂牌均价逾2万元 每经AI快讯，东材科技1月23日晚间发布公告称，公司持有控股子公司河南华佳新材料技术有限公司约 61.58%股权。公司拟将持有的河南华佳约31.43%股权转让给胜业电气股份有限公司，交易对价为人民 币6692.58万元。本次交易完成后，公司持有河南华佳的股权比例将由约61.58%减少至约30.15%，河南 华佳不再是公司的控股子公司，不再纳入公司合并报表范围。 ...

每经AI快讯，东材科技1月23日晚间发布公告称，公司第七届第三次董事会会议于2026年1月22日在公 司会议室以现场与通讯相结合的方式召开。会议审议了《关于转让控股子公司河南华佳部分股权的议 案》等文件。 （记者 王晓波） 每经头条（nbdtoutiao）——地方国资开始"抄底"法拍房！单价六七千元"扫货"广州南沙区超60套房 源，同小区二手房挂牌均价逾2万元 ...

证券代码：601208 证券简称：东材科技 公告编号：2026-014 交易概况：四川东材科技集团股份有限公司（以下简称"公司"或"本 公司"）持有控股子公司河南华佳新材料技术有限公司（以下简称"河南华佳" 或"目标公司"）61.5762%股权。公司拟将持有的河南华佳 31.4265%股权转让 给胜业电气股份有限公司（以下简称"胜业电气"或"受让方"），交易对价为人 民币 6,692.58 万元。本次交易完成后，公司持有河南华佳的股权比例将由 61.5762%减少至 30.1498%，河南华佳不再是公司的控股子公司，不再纳入公司 合并报表范围。 本次交易不构成关联交易，亦不构成《上市公司重大资产重组管理办法》 等法律法规规定的重大资产重组情形。 本次股权转让事项已经公司第七届董事会战略委员会 2026 年第一次会 议、第七届董事会第三次会议审议通过，根据《公司章程》相关规定，尚需提交 公司 2026 年第二次临时股东会审议批准。 公司不存在为河南华佳提供担保、委托其理财的情形，河南华佳不存在 占用上市公司资金的情形。 交易方已签署《附条件生效的股权转让协议》，就本次交易事项达成初步 意向，但后续交易的实施尚需 ...

河南华佳新材料技术有限公司 审计报告及财务报表 二○二四年至二〇二五年九月 河南华佳新材料技术有限公司 审计报告及财务报表 （2024 年 01 月 01 日至 2025 年 9 月 30 日止） | | | 目录 | 页次 | | --- | --- | --- | --- | | 一、 | 审计报告 | | 1-3 | | 二、 | 财务报表 | | | | | 资产负债表 | | 1-2 | | | 利润表 | | 3 | | | 现金流量表 | | 4 | | | 所有者权益变动表 | | 5-6 | | | 财务报表附注 | | 1-71 | 审计报告 信会师报字[2026]第 ZC50004 号 胜业电气股份有限公司董事会： 一、 审计意见 我们审计了河南华佳新材料技术有限公司（以下简称河南华佳） 财务报表，包括 2024 年 12 月 31 日、2025 年 9 月 30 日的资产负债 表，2024 年度、2025 年 1-9 月的利润表、现金流量表、所有者权益 变动表以及相关财务报表附注。 我们认为，后附的财务报表在所有重大方面按照财务报表附注二 所述的编制基础编制。 二、 形成审计意见的基础 ...

关于为全资子公司提供担保的进展公告 证券代码：601208 证券简称：东材科技 公告编号：2026-016 四川东材科技集团股份有限公司 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： 担保对象及基本情况 | 被担保人名称 | 本次担保金额 | | 实际为其提供的担保余额 | | 是否在前期 | 本次担保是 | | --- | --- | --- | --- | --- | --- | --- | | | | | （不含本次担保金额） | | 预计额度内 | 否有反担保 | | 江苏东材新材料有限责任公司 | 15,000.00 | 万元 | 12,000.00 | 万元 | 是 | 否 | | （以下简称"江苏东材"） | | | | | | | 注："本次担保金额"为公司与金融机构签署的《最高额保证合同》中约定的最高担保额度， 不等于子公司的实际担保发生额。该子公司将根据实际业务的需要，在授权担保额度范围内， 合理安排提款进度。 累计担保情况 | 对外担保逾期的累计金额（万元） | 0.00 | | --- ...

证券代码：601208 证券简称：东材科技 公告编号：2026-015 四川东材科技集团股份有限公司 一、召开会议的基本情况 (一)股东会类型和届次 2026年第二次临时股东会 (二)股东会召集人：董事会 (三)投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合 的方式 (四)现场会议召开的日期、时间和地点 关于召开2026年第二次临时股东会的通知 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： 股东会召开日期：2026年2月9日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 召开的日期时间：2026 年 2 月 9 日14 点 00 分 召开地点：四川省成都市郫都区菁德路 209 号四川东材科技集团股份有限公 司 101 会议室 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2026 年 2 月 9 日至2026 年 2 月 9 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的 ...

四川东材科技集团股份有限公司 第七届董事会第三次会议决议公告 本公司及董事会全体成员保证公告内容不存在虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实、准确和完整承担个别及连带责任。 四川东材科技集团股份有限公司（以下简称"公司"或"本公司"）第七届 董事会第三次会议通知于 2026 年 1 月 12 日以专人送达、通讯方式发出，会议于 2026 年 1 月 22 日在公司会议室以现场与通讯相结合的方式召开。本次会议应到 董事 9 名，实到董事 9 名，会议由董事长唐安斌先生主持，公司全体高级管理人 员列席了会议。本次会议的召集和召开符合《公司法》和《公司章程》的有关规 定。经与会董事认真审议并表决，通过了以下议案： 一、审议通过了《关于转让控股子公司河南华佳部分股权的议案》 本议案在提交董事会审议前已经董事会战略委员会2026年第一次会议审议 通过。 表决结果为：9 票同意，0 票反对，0 票弃权。 证券代码：601208 证券简称：东材科技 公告编号：2026-013 详见上交所网站www.sse.com.cn《关于转让控股子公司河南华佳部分股权 的公告》。 二、审议通过了《关于提请召开公司2026年 ...