Core Viewpoint - The recent surge in "Ma" stocks in the A-share market is primarily driven by speculative trading rather than fundamental changes in the companies' performance [4][5]. Group 1: Stock Performance - On September 3, the A-share market experienced significant fluctuations, but "Ma" stocks saw notable increases, with Feima International (002210.SZ) hitting the daily limit, and Yuma Technology (300993.SZ), Shenma Co., Ltd. (600810.SH), and Yema Battery (605378.SH) rising over 5% [1]. - The performance of "Ma" stocks includes: - Feima International: +9.90% - Yuma Technology: +6.88% - Shenma Co., Ltd.: +5.89% - Yema Battery: +5.26% - Tianma New Materials (838971.BJ): +4.12% - Haima Automobile (000572.SZ): +2.48% [2]. Group 2: Market Trends - The current "Ma" concept speculation is noted to have started nearly six months earlier than previous years, indicating a shift in market behavior [3]. - The "Ma" stocks span various industries, including environmental protection, electric power, textiles, and chemicals, showing a lack of correlation among them [3]. Group 3: Market Analysis - According to economist Song Qinghui, the rise in "Ma" stocks is a typical case of thematic speculation, driven by irrational associations with the zodiac rather than solid company fundamentals [4][5]. - This type of trading reflects a market environment where liquidity and speculative sentiment dominate, similar to previous trends seen with stocks linked to popular themes like the metaverse or ChatGPT [5]. - The recurrence of such speculative behavior suggests that the A-share market remains a battleground for emotions and capital, with investors frequently switching between different themes when substantial positive news is lacking [5].

Core Viewpoint - The recent surge in "Ma" stocks in the A-share market is primarily driven by speculative trading rather than fundamental changes in the companies' performance or outlook [2]. Group 1: Market Performance - On September 3, the A-share market experienced fluctuations, but "Ma" stocks showed significant upward movement [2]. - Notable stocks included Feima International (002210.SZ) hitting the daily limit, while Yuma Technology (300993.SZ), Shima Shares (600810.SH), and Yema Battery (605378.SH) rose over 5% [2]. - Other stocks such as Tianma New Materials (838971.BJ) and Haima Automobile (000572.SZ) also followed the upward trend [2]. Group 2: Expert Analysis - Economist Song Qinghui indicated that the rise in "Ma" stocks is a typical case of thematic speculation, not based on fundamental changes like earnings growth or increased orders [2]. - The trading activity reflects a highly active market sentiment, lacking a clear main theme [2].

Core Viewpoint - The recent surge in "Ma" stocks in the A-share market is primarily driven by speculative trading rather than fundamental changes in the companies' performance or outlook [1]. Group 1: Market Performance - On September 3, the A-share market experienced fluctuations, but "Ma" stocks showed significant upward movement [1]. - Notable stocks included Feima International (002210.SZ) hitting the daily limit, while Yuma Technology (300993.SZ), Shenma Co., Ltd. (600810.SH), and Yema Battery (605378.SH) rose over 5% [1]. - Other stocks such as Tianma New Materials (838971.BJ) and Haima Automobile (000572.SZ) also followed the upward trend [1]. Group 2: Expert Analysis - Economist Song Qinghui indicated that the rise in "Ma" stocks is a typical case of thematic speculation, lacking support from fundamental factors like earnings growth, increased orders, or technological breakthroughs [1]. - This phenomenon reflects a highly active market sentiment, characterized by a lack of clear investment themes [1].

Market Overview - The non-metal materials sector experienced a decline of 1.57% on September 3, with Changjiang Materials leading the drop [1] - The Shanghai Composite Index closed at 3813.56, down 1.16%, while the Shenzhen Component Index closed at 12472.0, down 0.65% [1] Stock Performance - Notable gainers included Ningxin New Materials, which rose by 10.79% to a closing price of 18.48, and Tianma New Materials, which increased by 4.12% to 38.96 [1] - Conversely, Changjiang Materials fell by 5.88% to 24.00, and other stocks like Bingyang Technology and Qilu Huaxin also saw declines of 5.53% and 3.08% respectively [2] Trading Volume and Capital Flow - The non-metal materials sector saw a net inflow of 54.54 million yuan from institutional investors, while retail investors experienced a net outflow of 34.45 million yuan [2] - The trading volume for Ningxin New Materials was 234,800 hands, with a transaction value of 427 million yuan, indicating strong investor interest [1] Individual Stock Capital Flow - Key stocks such as Suotong Development and Longgao Co. had significant capital movements, with Suotong Development seeing a net inflow of 89.68 million yuan from institutional investors [3] - In contrast, Changjiang Materials had a net outflow of 9.39 million yuan from institutional investors, indicating a lack of confidence among larger investors [3]

Core Viewpoint - The company achieved steady revenue growth in the first half of 2025, driven by technological innovation and market expansion, with a revenue of 133 million yuan, a year-on-year increase of 22.42% [1] Group 1: Financial Performance - The company reported a net profit attributable to shareholders of 2.4185 million yuan and a positive cash flow from operating activities of 8.4182 million yuan, reversing from negative to positive year-on-year [1] - Core products, including high-pressure electrical powder materials and other fine aluminum oxide powder materials, saw significant revenue growth of 93.23% and 96.75% respectively, contributing to overall revenue increase [1] Group 2: R&D and Innovation - R&D expenses increased to 4.6635 million yuan, a year-on-year growth of 6.73%, focusing on high-end materials such as high-purity nano-alumina and third-generation semiconductor packaging alumina [2] - The company established a research institute in collaboration with several universities to enhance industry collaboration and drive technological advancements [2] Group 3: Market Expansion - The company made breakthroughs in overseas market expansion, achieving bulk supply for some clients, which opens up significant opportunities for increasing international market share [1] - The global consumer electronics industry is recovering and growing, driven by technological innovation, with the company positioned to benefit from this trend [3]

Group 1 - The company, Tianma New Materials, announced the appointment of Dong Yuanmei as the representative for securities affairs [1]

证券代码：838971 证券简称：天马新材 公告编号：2025-088 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、募集资金基本情况 2022年9月27日，河南天马新材料股份有限公司发行普通股14,406,668股， 发行方式为向不特定合格投资者公开发行，发行价格为 21.38 元/股，募集资金总 额为 308,014,561.84 元，实际募集资金净额为 282,155,109.64 元，到账时间为 2022 年 9 月 21 日。 二、募集资金使用情况 （一）募集资金使用情况和存储情况 | 单位：元 | | --- | | 序 | | | 募集资金计划 | 累计投入募 | 投入进度（%） | | --- | --- | --- | --- | --- | --- | | 号 | 募集资金用途 | 实施主体 | 投资总额（调 | 集资金金额 | （3）=（2）/ | | | | | 整后）（1） | （2） | （1） | ...

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。 证券代码：838971 证券简称：天马新材 公告编号：2025-085 河南天马新材料股份有限公司 2025 年半年度募集资金存放与实际使用情况的专项报告 | | | （二）募集资金使用情况及结余情况 一、募集资金基本情况 截至 2025 年 6 月 30 日，公司募集资金使用情况具体如下： （一）实际募集资金金额、资金到位时间 | 项 目 | 募集资金发生额（元） | | --- | --- | | 募集资金实际到账金额 | 288,145,675.68 | | 加：累计利息收入扣除手续费净额 | 1,227,015.09 | | 加：购买理财产品投资收益净额 | 5,486,003.18 | | 减：以募集资金置换预先投入自筹资金的金额 | 46,338,335.41 | | 以募集资金支付尚未支付的发行费用 | 1,763,207.57 | | 直接投入募集项目资金 | 175,948,907.55 | | 以闲置募集资金购买理财项目 | 50,00 ...

证券代码：838971 证券简称：天马新材 公告编号：2025-090 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、 购买理财产品概述 （一） 购买理财产品目的 河南天马新材料股份有限公司（以下简称"公司"）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 闲置自有资金购买理财产品，创造更大的收益。 （二） 购买理财产品金额和资金来源 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， 在此额度内可以循环滚动使用。 （三） 购买理财产品方式 预计购买理财产品额度的情形 为提高公司闲置资金使用效率，在不影响公司主营业务的正常发展、确保满 足公司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。 （四） 购买理财产品期限 本次购买理财产品额 ...

证券代码：838971 证券简称：天马新材 公告编号：2025-086 河南天马新材料股份有限公司 关于部分募投项目结项 并将节余募集资金永久补充流动资金的公告 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及第四届监事会第五次会议，审议通过了《关于部分 募投项目结项并将节余募集资金永久补充流动资金的议案》，鉴于公司募投项目 "高导热填充粉体材料生产建设项目"已建设完毕，达到预定可使用状态，为提 高募集资金使用效率，公司拟将该募投项目结项，并将结项后的节余募集资金用 于永久补充流动资金。现将有关事项公告如下： 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、募集资金基本情况 2022 年 9 月 2 日，中国证券监督管理委员会出具《关于同意河南天马新材 料股份有限公司向不特定合格投资者公开发行股票注册的批复》（证监许可〔2022〕 2026 号），同意公司向不特定合格投资者公开发行股票的注册申请。经北京证券 交易所《关于同意河南天马新材料 ...