Core Viewpoint - ST Jiaao (603822.SH) expects significant revenue and profit growth in 2025, driven by its successful entry into the bio-jet fuel export market, which enhances its revenue structure and overall profitability [1] Financial Projections - The company anticipates 2025 annual revenue to be between 480 million and 510 million yuan, compared to 127.357 million yuan in 2024 [1] - Expected total profit for 2025 is projected to be between 27 million and 31 million yuan, a recovery from a loss of 39.607 million yuan in 2024 [1] - The net profit attributable to shareholders for 2025 is forecasted to be between 3 million and 6 million yuan, improving from a loss of 36.69403 million yuan in 2024 [1] - The company also expects a non-net profit attributable to shareholders for 2025 to be in the range of 3 million to 6 million yuan [1] Market Development - Since obtaining the bio-jet fuel "white list" export license, Lianyungang Jiaao has successfully established and enhanced its overseas market presence for bio-jet fuel products [1] - The company estimates that Lianyungang Jiaao will achieve annual revenue of approximately 3.9 billion to 4 billion yuan in 2025 from bio-jet fuel exports [1] - The breakthrough in bio-jet fuel export not only contributes a stable and considerable revenue increase but also significantly improves the company's overall gross margin and profitability through high-value product sales [1]

Group 1 - The core viewpoint of the article is that ST Jiaao expects a significant turnaround in its financial performance for the year 2025, projecting a net profit attributable to shareholders of between 30 million to 60 million yuan, compared to a loss of approximately 367 million yuan in the previous year [1] - The anticipated increase in net profit for 2025 is estimated to be between 397 million to 427 million yuan compared to the previous year, indicating a strong recovery in the company's financial health [1] - The primary reason for this performance improvement is the successful acquisition of the "white list" export license for bio-aviation fuel by Lianyungang Jiaao New Energy Co., which has enabled the company to enhance its overseas market presence and optimize its revenue structure [1] Group 2 - The article also highlights a booming demand in the nuclear power construction sector, with equipment manufacturers experiencing high order volumes, extending their order backlog to 2028 [1] - Companies in this industry are operating in three shifts and running production lines 24 hours a day to meet the increasing demand for nuclear power equipment [1]

证券代码：603822 股票简称：ST嘉澳 编号：2026-005 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 12 月 31 日。 （二）业绩预告情况 1、经财务部门初步测算，预计 2025 年年度实现营业收入 480,000 万元至 510,000 万元，与上年同期（法定披露数据）相比，增长 276.89%至 300.45%。 2、经财务部门初步测算，预计 2025 年年度实现利润总额为 27,000 万元到 31,000 万元，与上年同期（法定披露数据）相比，预计公司 2025 年度实现利 润总额与上年同期相比，将增加 66,600 万元至 70,600 万元。 公司预计 2025 年年度实现营业收入为 480,000 万元至 510,000 万元, 2024 年实现营业收入为 127,357 万元。 公司预计 2025 年年度实现利润总额为 27,000 万元到 31,000 万元, 2024 年 实现利润总额为-39,607 万元。 公司预计 2025 年年度实现归属于母公司所有者的净利润为 3,000 万元到 6,000 万元, 2024 年实现归属于母公司所有者的净利润为- ...

证券之星消息，1月29日生物柴油板块较上一交易日下跌0.69%，ST嘉澳领跌。当日上证指数报收于 4157.98，上涨0.16%。深证成指报收于14300.08，下跌0.3%。生物柴油板块个股涨跌见下表： 从资金流向上来看，当日生物柴油板块主力资金净流出6782.49万元，游资资金净流入1382.61万元，散 户资金净流入5399.88万元。生物柴油板块个股资金流向见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 ...

Group 1 - The core viewpoint of the news is that 40 stocks were listed on the institutional leaderboard today, with 23 stocks experiencing net buying and 17 stocks facing net selling [1] - The top three stocks with the highest net buying by institutions are: Zhongtung High-tech (3.05 billion), Dazhu CNC (2.79 billion), and ST Jiaao (240 million) [1] - Dazhu CNC saw a net buying of 2.79 billion from five institutions, and the stock price increased by 20% [2][3] Group 2 - Resonac, a well-known Japanese materials manufacturer, announced a price increase of over 30% for PCB materials such as copper foil substrates and adhesive films due to tight supply and significant price hikes [3] - The company is actively collaborating with industry-leading clients to develop cutting-edge technology solutions for AI PCB, focusing on high precision and complex structures [3] - TSMC's new advanced packaging line at the Jiayi AP7 factory is expected to double its capacity to 60,000 pieces per month by 2026, with plans to double again by 2027 [3]

Group 1 - On January 21, a total of 42 stocks were involved with institutional investors, with 25 stocks showing net buying and 17 stocks showing net selling [1] - The top three stocks with net buying by institutions were Zhongtung High-tech, Dazhu CNC, and ST Jiaao, with net buying amounts of 305 million, 279 million, and 240 million respectively [1][2] - The top three stocks with net selling by institutions were Tongfu Microelectronics, Hunan Silver, and Fengyuzhu, with net selling amounts of 125 million, 102 million, and 95.56 million respectively [1][3] Group 2 - Zhongtung High-tech had a price increase of 10.00% with a net buying amount of 30,504.10 million [2] - Dazhu CNC experienced a price increase of 20.00% with a net buying amount of 27,864.81 million [2] - ST Jiaao saw a price increase of 4.22% with a net buying amount of 23,952.02 million [2]

证券代码：603822 股票简称：ST嘉澳 编号：2026-004 浙江嘉澳环保科技股份有限公司 经公司自查，公司目前日常经营情况及外部环境未发生重大变化。 股票交易异常波动公告 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个别及连带责任。 重要内容提示： 公司于 2025 年 12 月 9 日收到中国证券监督管理委员会浙江监管局下发的《行 政处罚事先告知书》（浙处罚字[2025]24 号），依据《行政处罚事先告知书》载明 的内容，公司股票被实施其他风险警示。 敬请广大投资者注意二级市场交易风险，理性决策，审慎投资。 一、股票交易异常波动的具体情况 2026 年 1 月 19 日、1 月 20 日、1 月 21 日，公司股票交易价格连续三个交易 日内日收盘价格涨幅偏离值累计超过 12%，根据《上海证券交易所交易规则》的有 关规定，属于股票交易价格异常波动的情形。 二、公司关注并核实的相关情况 公司股票交易连续 3 个交易日内收盘价格涨幅偏离值累计超过 12%，属于股票 交易异常波动。 经公司自查，并向公司控股股东及实际控制人核实，截至 ...

SAF Industry Analysis: Super Cycle Driven by Supply-Demand Mismatch Industry Overview - The SAF (Sustainable Aviation Fuel) industry is experiencing a significant shift from "policy-driven" to "hard gap-driven" dynamics, particularly influenced by the upcoming EU ReFuelEU Aviation regulation set to take effect in 2025, which mandates the incorporation of 2%, 5%, and 70% sustainable aviation fuel in aviation fuel by 2025, 2030, and 2035 respectively, translating to a demand of 140 million, 350 million, and 5000 million tons [1][2] Key Insights - The price of SAF has surged over 50% throughout the year due to supply chain disruptions, leading to a significant widening of the price gap with upstream raw material UCO (Used Cooking Oil) [1] - Despite a potential decline in short-term demand post-2026, the UK’s blending target of 3.6% and Singapore's taxation policies are expected to support ongoing demand, with global production capacity estimated at 4-5 million tons, and an effective capacity of 2.4 million tons, which still falls short of the global demand of 2.8 million tons (Europe 1.8 million + USA 600,000 + South Korea and China 400,000) [1] Profit Distribution in the Industry - The industry logic has shifted from mere policy expectations to the realization of excess profits driven by scarce refining capacity [2] - Companies with existing or upcoming SAF production capacity are positioned to enjoy the highest processing profits, while those with compliant and traceable UCO resources will benefit from compliance premiums amid global trade barriers [2] Major SAF Suppliers and Capacities - Key SAF suppliers and their production capacities include: - Jiaao Environmental: 370,000 tons (with an additional 500,000 tons under construction) - Longkun Environment: 170,000 tons (planning to expand to 420,000 tons) - Sinopec: Zhenhai Refining 100,000 tons - Haineng Energy: Shandong Sanju 50,000 tons - Overseas Neste: over 500,000 tons - Unlisted Junheng Biological: 200,000 tons - Yigao Environmental: 200,000 tons [2]

Industry Investment Rating - The industry investment rating is "Outperform" and is maintained [2] Core Views - The basic chemical industry index closed at 4569.80 points, up 4.21% from last week, outperforming the CSI 300 index by 2.35% [17] - Among the 25 sub-industries in the chemical sector, all showed gains, with inorganic salts, modified plastics, synthetic resins, and chlor-alkali leading the way with weekly increases of 10.92%, 9.94%, 7.87%, and 7.60% respectively [18][19] - A total of 462 stocks in the chemical sector saw 400 stocks rise (87%) and 57 stocks fall (12%) during the week [21] Summary by Relevant Sections Weekly Chemical Market Overview - The basic chemical industry index rose to 4569.80 points, marking a 4.21% increase compared to the previous week, and outperformed the CSI 300 index by 2.35% [17] - The weekly performance of 25 sub-industries showed no declines, with significant gains in inorganic salts and modified plastics [18][19] Chemical Product Price Trends - Among 380 tracked chemical products, 89 saw price increases while 70 experienced declines [24] - The top ten products with the highest price increases included lithium manganate and lithium battery electrolytes, with increases ranging from 7% to 22% [25] - Conversely, the top ten products with the largest price declines included vitamin VD3 and lithium hexafluorophosphate, with declines ranging from 4% to 13% [26] Key Chemical Sub-Industry Tracking - The polyester filament market remained stable, with average prices for POY, FDY, and DTY showing slight declines [27] - The average industry operating rate for polyester filament was approximately 88.11%, with some facilities undergoing maintenance [28] - The average processing margin for polyester products indicated a slight improvement in profitability compared to the previous week [29] Tire Industry Insights - The operating rates for the full steel tire industry decreased to 55.50%, while the semi-steel tire industry dropped to 63.78% [38] - Export volumes from major tire companies in Southeast Asia showed significant year-on-year declines [39] - The average price of styrene-butadiene rubber increased by approximately 2.45% during the week [40] Refrigerant Market Overview - The R22 refrigerant market remained weak, with prices stabilizing at low levels due to cautious market sentiment [47] - In contrast, the R134a refrigerant market continued to rise, with major producers increasing prices amid tight supply conditions [48]

Core Viewpoint - Zhejiang Jiaao Environmental Protection Technology Co., Ltd. has experienced significant stock price fluctuations, with a cumulative increase of 45.25% from December 12, 2025, to January 8, 2026, raising concerns about potential short-term declines following this surge [2][7]. Group 1: Stock Performance - The company's stock closed at the涨停价 (limit-up price) on January 8, 2026, indicating strong market interest [2][7]. - The stock price has shown a cumulative increase of 45.25% over the period from December 12, 2025, to January 8, 2026, suggesting a volatile trading environment [2][7]. Group 2: Financial Performance - For the first three quarters of 2025, the company reported total revenue of approximately 3 billion yuan (3,004,848,264.76 yuan) and a net loss attributable to shareholders of approximately -25 million yuan (-25,365,865.15 yuan) [5]. - The company has experienced performance volatility, which investors should be aware of when making investment decisions [5]. Group 3: Operational Status - The company's production and operations are currently normal, with no significant changes in market conditions or industry policies affecting operations [4]. - There have been no major contracts signed recently, indicating a stable operational environment [4]. Group 4: Regulatory and Compliance Issues - The company received an administrative penalty notice from the China Securities Regulatory Commission on December 9, 2025, which has led to additional risk warnings for its stock [3][9]. - The stock is under other risk warnings as per the contents of the administrative penalty notice [9]. Group 5: Product and Market Risks - The company's bio-aviation fuel products are primarily export-oriented, and their operational performance is subject to national policies and fluctuations in raw material prices, leading to inherent uncertainties [3][9].