Core Viewpoint - Chuanheng Co., Ltd. has shown a mixed performance in stock price and financial results, with a notable increase in revenue and net profit year-on-year, while experiencing fluctuations in stock price and trading volume [1][2]. Group 1: Stock Performance - On January 16, Chuanheng's stock price decreased by 2.02%, trading at 38.29 CNY per share, with a total market capitalization of 23.268 billion CNY [1]. - Year-to-date, the stock price has increased by 4.45%, with a 0.75% decline over the last five trading days, a 9.00% increase over the last 20 days, and a 33.88% increase over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Chuanheng achieved a revenue of 5.804 billion CNY, representing a year-on-year growth of 46.08%, and a net profit attributable to shareholders of 0.965 billion CNY, up 43.50% year-on-year [2]. Group 3: Shareholder and Dividend Information - Since its A-share listing, Chuanheng has distributed a total of 2.133 billion CNY in dividends, with 1.729 billion CNY distributed over the last three years [3]. - As of September 30, 2025, the number of shareholders decreased to 29,300, with an average of 20,364 circulating shares per shareholder, an increase of 2.19% from the previous period [2][3].

Core Insights - The article presents the top 20 stocks in the S&P China A-Share Dividend Opportunity Index (CSPSADRP) based on their daily and year-to-date performance as of January 15, 2026, highlighting significant gainers and their dividend yields [1][5]. Group 1: Stock Performance - The top performer is Aotewi (688516.SH) with a daily increase of 8.15% and a year-to-date increase of 32.30%, along with a dividend yield of 3.80% [1][5]. - Weichai Power (000338.SZ) ranks second with a daily rise of 4.18% and a year-to-date increase of 17.44%, offering a dividend yield of 3.62% [1][5]. - Action Education (605098.SH) follows with a daily gain of 4.01% and a year-to-date increase of 11.71%, featuring a dividend yield of 5.02% [1][5]. Group 2: Dividend Yields - The highest dividend yield among the top 20 stocks is from Jichuan Pharmaceutical (600566.SH) at 7.99%, with a daily increase of 1.57% and a year-to-date increase of 0.84% [1][5]. - Other notable dividend yields include Oppein Home (603833.SH) at 6.85% and Qianjiang Motorcycle (000913.SZ) at 5.67% [1][5]. Group 3: Market Trends - The article notes the formation of a MACD golden cross signal, indicating a positive trend in the stock market, particularly for the highlighted stocks [4][8].

Group 1 - The agricultural chemical sector is showing strength, with Dongfang Tower rising over 6% and reaching a new high during trading [1] - Lianhua Technology, Luohua Technology, and Bai'ao Chemical all increased by more than 5%, indicating positive momentum in the sector [1] - Yuntianhua and Chuanheng Co. also experienced gains, reflecting a broader trend of growth within the agricultural chemical industry [1]

（文章来源：证券日报） 证券日报网讯 1月12日，川恒股份在互动平台回答投资者提问时表示，截至2026年1月9日，公司股东为 29297户。 ...

Core Insights - The chemical industry is expected to experience a recovery in profitability in 2026, marking a new starting point for supply-demand rebalancing, driven by anti-involution policies and advancements in new productive forces such as AI and robotics [2][5]. Group 1: Industry Overview - The chemical industry faced a downturn in profitability and valuation in 2025, but signs of stabilization and recovery are anticipated in 2026 [2]. - The peak of capital expenditure in the chemical sector has passed, with fixed asset investment turning negative in the second half of 2025, indicating the end of the capacity expansion cycle [5][14]. - The Producer Price Index (PPI) for chemicals is expected to gradually turn positive in 2026 after a prolonged period of decline [14]. Group 2: Investment Themes - Capital expenditure is decreasing, and leading companies like Wanhua Chemical are expected to see a recovery in profitability as they reduce capital spending and increase their global market share in MDI [5]. - The anti-involution policy is reshaping supply dynamics, with a focus on quality development and the exit of outdated capacities, benefiting companies with innovative capabilities and export advantages [5]. - New materials are driving demand growth in traditional chemicals, with companies like Dinglong Technology and Anji Technology positioned to benefit from domestic substitution in high-end materials [5]. Group 3: Market Dynamics - Chemical prices have been under pressure, with the chemical product price index declining approximately 8.8% in 2025, but stock prices in the sector have rebounded by 33.3% [10][16]. - The operating rates of mainstream chemical products are showing signs of weakness, with inventory levels varying significantly across different products [17][18]. - The supply-demand balance for phosphate rock remains tight, with stable prices for high-grade phosphate rock, while the market for phosphate fertilizers is influenced by policy and demand fluctuations [46][43]. Group 4: Global Trends - The global chemical supply is shifting towards China, which has become the largest chemical producer, while European chemical production faces challenges due to high energy costs [31][33]. - The restructuring of supply chains due to tariff disturbances is prompting companies to adapt, with a focus on overseas expansion for leading chemical firms [26][22]. - The anti-involution policies are expected to enhance industry cash flow and promote sustainable development by curbing disorderly expansion and prioritizing profitability [40].

Investment Rating - The industry investment rating is maintained as "Positive" [5] Core Viewpoints - The adjustment of export tax rebate policies does not alter the competitive advantage of China's chemical industry. The cancellation of export tax rebates for various chemical products is expected to increase export costs, reflecting China's energy and waste treatment capabilities. Despite theoretical concerns about competitiveness, high energy-consuming products like PVC lack global expansion capacity, and the price increase due to VAT will not significantly change competitive dynamics [2][7] - Market rumors do not change the profit recovery opportunities in the industry. Reports of regulatory discussions regarding monopolistic risks have led to stock price corrections for leading chemical companies. However, the industry is still in a self-rescue phase, with production cuts not aimed at achieving monopolistic profits but rather at facilitating recovery from previous losses [2][7] Investment Recommendations and Targets - Recommended leading companies in the refining industry include Sinopec (600028, Buy), Rongsheng Petrochemical (002493, Buy), and Hengli Petrochemical (600346, Buy). The report also highlights recovery opportunities in various chemical sub-industries, such as MDI leader Wanhua Chemical (600309, Buy) and PVC-related companies like Zhongtai Chemical (002092, Not Rated), Xinjiang Tianye (600075, Not Rated), Chlor-alkali Chemical (600618, Not Rated), and Tianyuan Co., Ltd. (002386, Not Rated). In the phosphoric chemical sector, companies like Chuanheng Co., Ltd. (002895, Not Rated) and Yuntianhua (600096, Not Rated) are noted for their growth potential driven by rapid energy storage growth. In the oxalic acid sector, attention is drawn to Hualu Hengsheng (600426, Buy), Huayi Group (600623, Buy), and Wankai New Materials (301216, Buy) [3]

Core Viewpoint - The company, Guizhou Hengxuan New Energy Materials Co., Ltd., is experiencing significant growth in production and sales of lithium iron phosphate, driven by the rising demand in the new energy battery materials industry. The company anticipates a production output of 7,000 tons and a revenue of over 80 million yuan in January 2026, with a 40% increase in output value compared to the previous year [1]. Group 1: Company Performance - Guizhou Hengxuan New Energy Materials Co., Ltd. is a subsidiary of Guizhou Chuanheng Chemical Co., Ltd., leveraging its parent company's advantages in mining and processing to excel in the market [1]. - The company has established a complete circular industrial chain from phosphate rock mining to the manufacturing of phosphoric acid and phosphates, as well as comprehensive utilization of fluorine resources [1]. - In the first three quarters of 2025, the modern chemical and new energy battery materials industries in Fuquan City achieved a total output value of 33.119 billion yuan, accounting for 81.07% of the city's total industrial output value [1]. Group 2: Industry Outlook - Fuquan City is focusing on the "rich mineral and refined mining" strategy during the 14th Five-Year Plan period, promoting the development of modern chemical and new energy battery materials industries through technological innovation [2]. - Looking ahead to the 15th Five-Year Plan, Fuquan City aims to capitalize on national policies supporting high-quality industrial development, expanding its industrial layout and building a modern industrial system centered on phosphorus and phosphorus chemicals, with metal smelting as a characteristic [2].

Group 1 - The article highlights the top 20 stocks in the S&P China A-Share Dividend Opportunity Index (CSPSADRP) based on their daily and year-to-date performance as of January 6, 2026 [1][4] - The stock with the highest daily increase is Aotewi (688516.SH), which rose by 8.42% and has a year-to-date increase of 18.34% with a dividend yield of 4.26% [1][4] - Tianshan Aluminum (002532.SZ) and Xueri Co., Ltd. (002083.SZ) follow closely, with daily increases of 7.75% and 7.41%, and year-to-date increases of 12.61% and 18.15%, respectively [1][4] Group 2 - The list includes various sectors, with notable performances from companies like Yuntianhua (600096.SH) and Chuanheng Co. (002895.SZ), which saw daily increases of 5.65% and 5.17% [1][4] - The dividend yields for the top stocks vary, with Nanshan Aluminum (600219.SH) offering the highest yield at 7.09%, while others like Xueri Co. (002083.SZ) have lower yields at 1.10% [1][4] - The data is sourced from the Shanghai Stock Exchange and reflects the closing prices as of January 6, 2026, with dividend yields calculated up to January 5, 2026 [1][4]

Group 1 - The provincial government emphasizes the need to implement Xi Jinping's important speech during his inspection in Guizhou, focusing on industrial development, project promotion, investment attraction, and operational entity enhancement to achieve a good start for the 14th Five-Year Plan [1][2] - Li Bingjun visited several companies, including Guizhou Tianmei Lithium Energy New Materials Co., Ltd. and Guizhou Baitian Ecological Engineering Co., Ltd., to understand their production operations and challenges, encouraging collaboration with industry leaders for synergistic development [1] - At Guizhou Phosphate Group's Chuan Yan Cave Phosphate Mine, there is a call to optimize mineral resource allocation to meet enterprise development needs and improve resource utilization efficiency [1][2] Group 2 - Li Bingjun held discussions with leaders from Guizhou Phosphate Group and Nantong Jiangshan, acknowledging the transformation achievements of the phosphate group and urging the acceleration of major project construction and the attraction of strong enterprises [2] - The provincial government aims to support the development of the livestock processing industry, enhancing the quality and safety of livestock products through the growth of Guizhou Gaojin Food Co., Ltd. [1] - There is a strong emphasis on creating a favorable industrial ecosystem by encouraging collaboration among industry enterprises and promoting technological innovation to enhance competitiveness [1][2]

Group 1 - The core point of the article highlights a significant block trade involving Chuanheng Co., with a transaction volume of 182,000 shares and a transaction value of 7.1781 million yuan, executed at a price of 39.44 yuan per share [2] - In the last three months, Chuanheng Co. has recorded a total of four block trades, amounting to a cumulative transaction value of 38.2039 million yuan [2] - The closing price of Chuanheng Co. on the day of the block trade was 39.44 yuan, reflecting a 5.17% increase, with a daily turnover rate of 2.85% and a total transaction amount of 660 million yuan [2] Group 2 - The net outflow of main funds for Chuanheng Co. on the day of the block trade was 14.1657 million yuan, while the stock has seen a cumulative increase of 6.25% over the past five days, with a total net inflow of 19.4022 million yuan [2] - The latest margin financing balance for Chuanheng Co. stands at 416 million yuan, showing a decrease of 39.412 million yuan over the past five days, which is a decline of 8.65% [2]