Core Viewpoint - The long-standing legal dispute between Tianma New Materials Co., Ltd. and Hebei Jinli New Energy Technology Co., Ltd. has been resolved through a settlement agreement, concluding a three-year contract dispute over the sale of aluminum oxide powder materials [1][5]. Summary by Sections Background of the Dispute - In March 2022, Tianma New Materials signed a sales contract with Jinli New Energy and its subsidiaries for aluminum oxide powder materials worth approximately 4 million yuan, but Jinli refused to pay, citing product quality issues [2][3]. - Tianma filed a counterclaim seeking payment of 1.56 million yuan and interest, while also pursuing claims against Jinli's subsidiaries for additional amounts [2][3]. Legal Proceedings - The case went through multiple court hearings, with the first instance court ruling against Tianma, which led to an appeal [3][4]. - The second instance court found procedural errors in the first ruling and sent the case back for retrial [4]. Settlement Agreement - On November 10, 2025, both parties reached a settlement where Tianma agreed to pay 1.5 million yuan in cash, and Jinli would return unused goods, with both parties withdrawing their lawsuits [5][6]. Financial Impact - The litigation led Tianma to make provisions in its 2023 financial report, impacting net profit by approximately 18.52 million yuan [7]. - The company reported a revenue of 207 million yuan for the first three quarters of 2025, a year-on-year increase of 14.29%, but a significant decline in net profit [7].

Market Overview - The non-metal materials sector experienced a decline of 0.96% on November 3, with Tianma New Materials leading the drop [1] - The Shanghai Composite Index closed at 3976.52, up 0.55%, while the Shenzhen Component Index closed at 13404.06, up 0.19% [1] Stock Performance - Key stocks in the non-metal materials sector showed varied performance, with the following notable movements: - Liliang Diamond (301071) increased by 2.11% to a closing price of 39.27, with a trading volume of 128,200 shares and a turnover of 497 million yuan [1] - Tianma New Materials (920971) decreased by 3.88% to a closing price of 37.37, with a trading volume of 90,900 shares and a turnover of 353 million yuan [2] - Other stocks like Longgao Co. (605086) and Jiangsu Materials (001296) also showed slight increases of 0.37% and 0.46%, respectively [1][2] Capital Flow - The non-metal materials sector saw a net outflow of 31.84 million yuan from institutional investors, while retail investors contributed a net inflow of 35.13 million yuan [2] - Detailed capital flow for specific stocks indicated that: - Liliang Diamond had a net outflow of 14.67 million yuan from institutional investors, but a net inflow of 22.05 million yuan from retail investors [3] - Longgao Co. experienced a net outflow of 2.28 million yuan from institutional investors, with a net inflow of 1.45 million yuan from retail investors [3]

Core Insights - The non-metal materials sector increased by 0.9% on October 29, with Tianma New Materials leading the gains [1] - The Shanghai Composite Index closed at 4016.33, up 0.7%, while the Shenzhen Component Index closed at 13691.38, up 1.95% [1] Stock Performance - Tianma New Materials (code: 920971) closed at 36.48, with a rise of 13.50% and a trading volume of 87,300 shares, resulting in a transaction value of 301 million yuan [1] - Bingyang Technology (code: 920675) saw a closing price of 12.80, up 10.54%, with a trading volume of 100,300 shares and a transaction value of 121 million yuan [1] - Ningxin New Materials (code: 920719) closed at 15.70, increasing by 6.22%, with a trading volume of 75,100 shares and a transaction value of 114 million yuan [1] - Other notable performers include Dongfang Xiayuan (code: 920175) with a 5.16% increase, Suotong Development (code: 603612) with a 4.27% increase, and Qilu Huaxin (code: 920832) with a 1.81% increase [1] Capital Flow - The non-metal materials sector experienced a net outflow of 78.1263 million yuan from institutional investors, while retail investors saw a net inflow of 120 million yuan [2][3] - The capital flow for individual stocks indicates that Strength Diamond (code: 301071) had a net inflow of 56.3956 million yuan from institutional investors, while Longgao Co. (code: 605086) experienced a net outflow of 4.5837 million yuan [3]

Market Overview - The non-metal materials sector experienced a decline of 4.54% on October 17, with Tianma New Materials leading the drop [1] - The Shanghai Composite Index closed at 3839.76, down 1.95%, while the Shenzhen Component Index closed at 12688.94, down 3.04% [1] Individual Stock Performance - Tianma New Materials (code: 920971) closed at 36.72, down 9.11% with a trading volume of 56,700 shares and a transaction value of 219 million [1] - Strength Diamond (code: 301071) closed at 40.62, down 7.58% with a trading volume of 263,700 shares and a transaction value of 1.086 billion [1] - Quartz Shares (code: 603688) closed at 38.21, down 7.05% with a trading volume of 199,300 shares and a transaction value of 779 million [1] - Other notable declines include Lianrui New Materials (down 5.62%), Ningxin New Materials (down 3.15%), and Changjiang Materials (down 2.11%) [1] Capital Flow Analysis - The non-metal materials sector saw a net outflow of 225 million from main funds, while retail investors contributed a net inflow of 188 million [1] - The capital flow for individual stocks indicates that Longgao Co. (code: 605086) had a main fund net inflow of 7.38 million, while other stocks like Strength Diamond and Quartz Shares experienced significant net outflows of 56.80 million and 87.06 million respectively [2]

Core Points - As of September 29, the total margin financing and securities lending balance on the Beijing Stock Exchange (BSE) was 7.624 billion yuan, a decrease of 33.87 million yuan from the previous trading day [1] - The top three stocks by margin financing balance were Shuguang Digital Innovation, Jinbo Biological, and Better Energy, with balances of 368 million yuan, 337 million yuan, and 330 million yuan respectively [1] - A total of 105 stocks on the BSE had net margin purchases, with 32 stocks having net purchases exceeding 1 million yuan, led by Lingge Technology with a net purchase of 29.81 million yuan [1][2] Industry Summary - The industries with the highest concentration of stocks with net margin purchases over 1 million yuan were basic chemicals, electric equipment, and machinery, with 8, 6, and 4 stocks respectively [2] - On average, stocks with net margin purchases over 1 million yuan rose by 0.74% on September 29, with Lingge Technology, Tianma New Materials, and Airong Software leading the gains at 14.39%, 3.84%, and 3.40% respectively [2] - The average turnover rate for stocks with net margin purchases over 1 million yuan was 4.18%, with Jinhuan New Materials, Lingge Technology, and Jiezong Technology having turnover rates of 53.44%, 18.58%, and 8.50% respectively [2] Company Highlights - Lingge Technology had a margin financing balance of 435.68 million yuan, with an increase of 29.81 million yuan, representing 2.20% of its market capitalization [2][3] - Other notable companies with significant margin financing increases included Kaiter Co. with 685.96 million yuan and Airoong Software with 1.659644 billion yuan [2][3] - Stocks with the largest margin financing increases also included Tianma New Materials and Jiezong Technology, with increases of 4.58 million yuan and 4.35 million yuan respectively [2][3]

Core Viewpoint - The non-metal materials sector experienced a slight increase of 0.21% on September 29, with Ningxin New Materials leading the gains. The Shanghai Composite Index closed at 3862.53, up 0.9%, while the Shenzhen Component Index rose by 2.05% to 13479.43 [1]. Group 1: Stock Performance - Ningxin New Materials (839719) closed at 15.67, with a rise of 4.61% and a trading volume of 57,600 shares, totaling a transaction value of 89.37 million yuan [1]. - Tianma New Materials (838971) saw a closing price of 39.80, up 3.84%, with a trading volume of 53,400 shares and a transaction value of 212 million yuan [1]. - Suotong Development (603612) closed at 26.85, increasing by 3.55% with a trading volume of 274,600 shares, amounting to 732 million yuan [1]. - Longjiang Materials (001296) closed at 23.04, up 1.90%, with a trading volume of 30,700 shares and a transaction value of 70.04 million yuan [1]. - Dongfang Huayuan (832175) closed at 12.04, increasing by 1.52% with a trading volume of 15,900 shares and a transaction value of 19.05 million yuan [1]. - Lianrui New Materials (688300) closed at 60.01, up 0.47%, with a trading volume of 53,300 shares and a transaction value of 321 million yuan [1]. - Qilu Huaxin (830832) closed at 8.21, with a slight increase of 0.24% and a trading volume of 17,500 shares, totaling 14.23 million yuan [1]. - Kuncai Technology (603826) closed at 18.86, down 0.11%, with a trading volume of 24,700 shares and a transaction value of 46.36 million yuan [1]. - Bingyang Technology (836675) closed at 10.96, decreasing by 0.36% with a trading volume of 9,878 shares and a transaction value of 10.86 million yuan [1]. - Longgao Co., Ltd. (605086) closed at 25.68, down 0.77%, with a trading volume of 16,900 shares and a transaction value of 43.26 million yuan [1]. Group 2: Capital Flow - The non-metal materials sector saw a net outflow of 47.13 million yuan from institutional investors, while retail investors contributed a net inflow of 73.16 million yuan [2]. - The capital flow for individual stocks indicates that Suotong Development had a net inflow of 99.06 million yuan from institutional investors, while retail investors had a net outflow of 58.08 million yuan [3]. - Longgao Co., Ltd. experienced a net outflow of 4.57 million yuan from institutional investors, but a net inflow of 2.91 million yuan from retail investors [3]. - Lianrui New Materials faced a significant net outflow of 50.86 million yuan from institutional investors, while retail investors contributed a net inflow of 49.86 million yuan [3]. - Quartz Co. (603688) had a net outflow of 65.36 million yuan from institutional investors, with retail investors showing a net inflow of 55.96 million yuan [3].

Group 1 - The A-share market has seen a strong performance in the non-ferrous metal sector, with stocks such as Bojian New Materials and Vanadium Titanium Co. hitting the 10% daily limit up, while others like Shengda Resources and Yinhai Magnetic Materials rose over 6% [1] - The Ministry of Industry and Information Technology, along with eight other departments, has issued a "Work Plan for Stable Growth in the Non-Ferrous Metal Industry," which includes implementing a new round of mineral exploration strategies and enhancing resource surveys for copper, aluminum, lithium, nickel, cobalt, and tin [1] - The plan aims for an average annual growth of about 5% in the value added of the non-ferrous metal industry from 2025 to 2026 [1] Group 2 - Specific stock performances include: - Bojian New Materials (code: 605376) with a market cap of 15.6 billion and a year-to-date increase of 106.32% [2] - Vanadium Titanium Co. (code: 000629) with a market cap of 28.6 billion and a year-to-date increase of 6.94% [2] - Shengda Resources (code: 000603) with a market cap of 17.2 billion and a year-to-date increase of 108.85% [2] - Yinhai Magnetic Materials (code: 300127) with a market cap of 11.1 billion and a year-to-date increase of 41.62% [2] - Other notable performers include: - Ganfeng Lithium (code: 002460) with a market cap of 116.7 billion and a year-to-date increase of 62.73% [2] - China Aluminum (code: 601600) with a market cap of 134.7 billion and a year-to-date increase of 8.68% [2]

证券代码：838971 证券简称：天马新材 公告编号：2025-135 河南天马新材料股份有限公司 关于使用部分闲置募集资金进行现金管理的进展公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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 带法律责任。 一、 授权现金管理情况 1、审议情况 河南天马新材料股份有限公司（以下简称"公司"）于 2025 年 8 月 25 日召 开第四届董事会第五次会议、第四届监事会第五次会议，审议通过了《关于使用 部分闲置募集资金进行现金管理的议案》，在确保资金安全、不影响募集资金投 资项目建设的前提下，公司拟使用总额不超过 3,500.00 万元的闲置募集资金进行 现金管理。使用闲置募集资金进行现金管理的品种满足安全性高、流动性好、可 以保障投资本金安全等要求，包括但不限于通知存款、结构性存款、大额存单等。 使用期限自 2025 年 9 月 24 日至 2026 年 9 月 23 日，在上述额度和期限内，资金 可滚动使用。具体内容详见公司于 2025 年 8 月 26 日在北京证券交易所信息披露 平台（www.bse.cn）披露 ...

证券代码：838971 证券简称：天马新材 公告编号：2025-136 河南天马新材料股份有限公司 关于使用闲置自有资金购买理财产品的进展公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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 带法律责任。 一、 授权委托理财情况 1、审议情况 河南天马新材料股份有限公司（以下简称"公司"）于 2025 年 8 月 25 日召 开第四届董事会第五次会议、第四届监事会第五次会议，审议通过了《关于使用 部分闲置自有资金购买理财产品的议案》。为充分合理利用资金，提高资金使用 效率，在确保日常经营资金需求和资金安全的前提下，公司拟使用额度不超过人 民币 5,000.00 万元的闲置自有资金购买理财产品，拟购买的理财产品主要为安全 性高、流动性好、风险较低的理财产品。本次购买理财产品额度的使用期限自董 事会审议通过之日起至 2026 年 8 月 24 日期间内有效，在不超过上述额度及决议 有效期内，资金可以滚动使用，如单笔产品存续期超过前述有效期，则决议的有 效期自动顺延至该笔交易期满之日，具体内容详见公司在北京证券交易所信息披 ...

Investment Rating - The report indicates a strong rebound in the North Exchange, with a focus on the technology growth sector, particularly semiconductors and robotics, which are seen as core investment themes [4][9]. Core Insights - The North Exchange A-shares trading volume reached 20.69 billion yuan on September 24, a decrease of 3.72 billion yuan from the previous trading day, while the North Exchange 50 Index closed at 1578.92, up 2.03% [2][9]. - The North Exchange specialized and innovative index closed at 2762.51, increasing by 2.66% [2][9]. - Among the 276 companies listed on the North Exchange, 236 saw their stock prices rise, 2 remained flat, and 38 experienced declines [2][16]. Summary by Sections Market Review - On September 24, the North Exchange A-shares trading volume was 20.69 billion yuan, down from the previous day by 3.72 billion yuan [2][9]. - The North Exchange 50 Index increased by 2.03%, with a PE_TTM of 74.04 [2][9]. - The specialized and innovative index rose by 2.66% [2][9]. - The top five gainers included Henghe Co. (30.0%), Meizhigao (10.6%), Kaide Quartz (9.9%), Tiangang Co. (8.9%), and Yuanhang Precision (8.3%) [2][16]. - The top five decliners were Anhui Phoenix (-4.4%), Hongzhi Technology (-3.6%), Rongyi Precision (-3.0%), Wantong Hydraulic (-2.9%), and Tianma New Materials (-2.7%) [2][16]. Important News - Eight departments issued guidelines to promote digital consumption, proposing 14 tasks across four areas to enhance the digital consumption ecosystem [3][19]. - The "Vehicle-Road-Cloud Integration" pilot city construction is accelerating, with various cities, including Beijing and Haikou, advancing related projects [3][20]. Key Company Announcements - Kexin New Materials announced the acquisition of a utility model patent for a fixed device for transporting new energy crucibles [3][21]. - Xici Technology plans to invest up to 160 million yuan of idle funds in safe financial products [3][21].