300317, "20cm" daily limit up in 1 minute! Vitamins enter price increase channel, beneficiary stocks are scarce (list attached)

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Institutions are optimistic about vitamin prices.

300317, 1-minute “20cm” limit-up

On the morning of March 18, Jawi New Energy (300317) opened significantly higher, and within about a minute after the bidding, it hit the “20cm” limit-up. By the close of the morning, the stock was at 6.03 yuan per share, up nearly 15%.

According to the company’s 2025 semi-annual report, Jawi New Energy’s main businesses include new energy power generation and the research, production, and sales of photovoltaic consumer products. Among these, new energy power generation can be subdivided into EPC and operation & maintenance of photovoltaic power stations, investment and operation of photovoltaic power stations, and related industrial and commercial energy storage; photovoltaic consumer products involve the integrated application of solar cell technology and LED light sources, specifically using solar photovoltaic power generation to produce electricity, which is then used for LED lighting. This leads to various lighting applications, with main products including solar lawn lights, garden lights, and low-voltage lamps.

The strong performance of green power concepts may be a key reason for the stock’s movement today. Several other stocks, such as Yabo Co., Ltd., Jicheng Electronics, and Meili Cloud, also hit the daily limit-up this morning.

Vitamin prices enter a rising channel

Recently, prices of vitamins A, E, and others have surged significantly. According to Pacific Securities research reports citing Baichuan Yingfu data, since the outbreak of Middle Eastern conflicts at the end of February, vitamin A prices have risen from 59 yuan/kg to 80 yuan/kg, a 35% increase, and vitamin E prices from 57 yuan/kg to 79 yuan/kg, a 38% increase. The firm pointed out that Europe has large capacities for vitamin A and E production, and future tight oil and gas supplies could significantly impact production, benefiting leading domestic companies.

China Post Securities also stated that the prices of vitamin raw materials were at historically low levels before the recent increases. Rising upstream chemical raw material costs and higher oil transportation prices have stimulated industry control and increased willingness to raise prices. Since vitamins are mainly used as feed additives with a very low cost proportion, downstream sensitivity to prices is low, making price increases smooth and with room for further hikes. China Post Securities believes that under multiple catalysts, vitamins are just beginning to enter a rising price channel, and historical experience suggests significant potential for future growth.

Scarcity of beneficiary stocks

China Post Securities recommends paying attention to four related stocks:

Yifan Pharmaceutical: a leading company in calcium pantothenate, with cost advantages. Rising calcium pantothenate prices will expand profit margins. The company’s innovation and diversification are steadily advancing, providing fundamental support during cyclical recovery.

Zhejiang Medicine: has production capacity for VA, VE, VD3, and other varieties. Vitamin business accounts for a high proportion of revenue, and rising prices will amplify the company’s profit elasticity.

Nentech Technology: a major producer of VE. Its subsidiary Nentech (Shishou) Co., Ltd. and joint venture Yimante Health Industry (Jingzhou) Co., Ltd. operate VE businesses. The rebound in VE prices will benefit.

Brother Technology: with integrated layout of VB1, VB3, calcium pantothenate, and vitamin K3, benefiting from the prosperity of B1 and the synergistic rise of B3, as well as cost reduction, efficiency improvement, and product upgrades, which collectively support continuous profit recovery. The rise in calcium pantothenate prices will further boost the company’s performance.

Related concept stocks in A-shares are scarce. Wind data shows there are 14 vitamin concept stocks in total. Among them, Xinhecheng has a market value exceeding 100 billion yuan and is the only company in the sector with a market cap over 100 billion. Huatai Securities states that in the medium to long term, Xinhecheng’s capacity for methionine and vitamins, due to its significant competitive advantages in energy, labor, and manufacturing costs compared to overseas companies, is expected to continue increasing its global market share amid declining overseas supply stability and potential exits.

Based on recent institutional research, Xinhecheng, Weixin Kang, Minsheng Health, and Jindawei are among the most followed stocks. Xinhecheng recently indicated that vitamin prices have stabilized and rebounded since Q4 last year. Additionally, companies like Brother Technology have also mentioned price increases in related varieties in their earnings forecasts. Brother Technology expects its 2025 performance to grow year-over-year, mainly due to higher prices for some vitamins, increased production and sales of related products like phenylethyl alcohol, and reduced costs, leading to overall improved profitability compared to last year.

Editor: Zhou Sha

Proofreader: Wang Wei

Data Treasure