数据显示，招商资管旗下1只基金重仓东睦股份。招商资管核心优势混合D（880006）四季度减持1700 股，持有股数1.33万股，占基金净值比例为1.74%，位居第九大重仓股。根据测算，今日浮亏损失约 2.21万元。连续3天下跌期间浮亏损失2.26万元。 招商资管核心优势混合D（880006）成立日期2025年1月23日，最新规模1425.34万。今年以来收益 8.78%，同类排名2254/9000；近一年收益39.38%，同类排名3155/8193；成立以来收益40.12%。 招商资管核心优势混合D（880006）基金经理为蔡霖。 2月2日，东睦股份跌5.01%，截至发稿，报31.49元/股，成交3.45亿元，换手率1.74%，总市值198.82亿 元。东睦股份股价已经连续3天下跌，区间累计跌幅4.88%。 截至发稿，蔡霖累计任职时间3年250天，现任基金资产总规模1.4亿元，任职期间最佳基金回报 35.49%， 任职期间最差基金回报-10.38%。 资料显示，东睦新材料集团股份有限公司位于浙江省宁波市鄞州工业园区景江路1508号，成立日期1994 年7月11日，上市日期2004年5月11日，公司主营业务涉及 ...

Core Insights - The report highlights a bullish outlook for the metals sector, driven by macroeconomic factors such as the Federal Reserve's interest rate cuts and a recovering global economy, particularly in China [3][44] - Key investment themes for 2026 include expanding demand for precious metals like gold and silver, improving fundamentals for aluminum and copper, strategic opportunities in rare earths, and supply-side disruptions due to overcapacity in certain sectors [3][4] Group 1: Precious Metals - The report suggests a long-term bullish view on gold, with expectations of price increases driven by anticipated interest rate cuts and geopolitical tensions, which enhance gold's appeal as a safe-haven asset [3][44] - Silver is also highlighted as a key investment opportunity due to its high price ratio to gold, indicating potential for significant price appreciation [3] - Specific companies to watch include Shandong Gold (600547.SH) and Zijin Mining (601899.SH), which are expected to benefit from increased production and operational efficiencies [4] Group 2: Industrial Metals - The report notes that aluminum and copper are set to see improved profitability due to lower production costs and increased demand, particularly in the context of infrastructure investments [3][4] - Companies such as Zhongfu Industrial (600595.SH) and Zijin Mining (601899.SH) are identified as having strong positions in the copper market, with expected profit growth [4] - The report emphasizes the importance of monitoring supply chain dynamics, particularly in copper, where inventory levels are shifting significantly [18][58] Group 3: Rare Earths and Strategic Metals - The report identifies rare earth elements as a critical area for investment, particularly in light of geopolitical tensions between the US and China, which may create opportunities for companies involved in rare earth mining and processing [3][4] - Companies like Northern Rare Earth (600111.SH) and China Rare Earth (000831.SZ) are highlighted for their potential to benefit from price increases in rare earth materials [4] Group 4: Energy Metals - The report discusses the rebound in lithium and nickel prices, driven by strong demand from the battery sector, with specific mention of companies like Tianqi Lithium (002466.SZ) and Ganfeng Lithium (002460.SZ) [4][27] - The expected growth in energy storage solutions is also noted as a significant driver for demand in these metals [4] Group 5: Overall Market Performance - The overall performance of the non-ferrous metals sector is noted to have outperformed the broader market, with a cumulative increase of 96.46% in 2025 compared to a 21.65% increase in the Shanghai Composite Index [33][35] - The report indicates that while the sector has seen significant gains, valuations are currently at historical averages, suggesting potential for further growth [35]

Core Viewpoint - The report highlights the performance and strategic focus of the Bosera New Energy Theme Mixed A Fund, emphasizing its investment in high-growth and low-penetration sectors within the new energy industry, particularly in electric equipment and solid-state batteries [3][4]. Fund Performance - The fund reported a profit of 440,800 yuan in Q4 2025, with a weighted average profit per share of 0.0022 yuan [3]. - The net asset value (NAV) growth rate for the fund was 0.39% during the reporting period, with a total fund size of 162 million yuan as of the end of Q4 [3][15]. - As of January 22, the fund's unit NAV was 0.872 yuan [3]. Comparative Performance - Over the past three months, the fund's NAV growth rate was 12.65%, ranking 49 out of 100 among comparable funds [4]. - The fund's NAV growth rate over the past six months was 41.54%, ranking 31 out of 100 [4]. - The one-year NAV growth rate was 52.48%, ranking 36 out of 92 [4]. - The three-year NAV growth rate was 10.94%, ranking 31 out of 68 [4]. Risk Metrics - The fund's Sharpe ratio over the past three years was 0.4889, ranking 25 out of 66 among comparable funds [9]. - The maximum drawdown over the past three years was 46.79%, with the highest single-quarter drawdown occurring in Q2 2022 at 22.22% [11]. Investment Strategy - The fund manager indicated an increased allocation to high-growth and low-penetration sectors within the new energy industry, specifically targeting electric equipment exports and upstream lithium battery materials [3]. - The solid-state battery sector is highlighted as a low-penetration area, with expectations for mass production to begin in 2026 and scale deployment in 2027 [3]. Portfolio Composition - As of December 31, the fund's top ten holdings included companies such as CATL, Sungrow Power Supply, and Tianqi Lithium [18]. - The average stock position over the past three years was 86.14%, with a peak of 89.88% at the end of Q1 2023 [14].

两融数据显示，该股最新（1月22日）两融余额为12.16亿元，其中，融资余额为12.16亿元，近10日增加 1.28亿元，环比增长11.82%。 公司发布的三季报数据显示，前三季度公司共实现营业收入44.17亿元，同比增长22.32%，实现净利润 4.15亿元，同比增长50.10%，基本每股收益为0.6700元，加权平均净资产收益率14.07%。（数据宝） （文章来源：证券时报网） 东睦股份股价创出历史新高，截至9:36，该股上涨3.05%，股价报36.84元，成交量289.51万股，成交金 额1.07亿元，换手率0.47%，该股最新A股总市值达232.60亿元，该股A股流通市值227.08亿元。 证券时报·数据宝统计显示，东睦股份所属的机械设备行业，目前整体涨幅为0.90%，行业内，目前股价 上涨的有376只，涨停的有宇晶股份、锋龙股份等4只。股价下跌的有198只，跌幅居前的有利欧股份、 华锐精密、金太阳等，跌幅分别为5.82%、4.92%、4.44%。 ...

Market Performance - The general equipment sector increased by 1.93% on January 19, with Oke Yi leading the gains [1] - The Shanghai Composite Index closed at 4114.0, up 0.29%, while the Shenzhen Component Index closed at 14294.05, up 0.09% [1] Top Gainers - Oke Yi (688308) closed at 39.78, up 20.00% with a trading volume of 76,400 shares [1] - Aiko Optoelectronics (688610) closed at 91.25, up 18.54% with a trading volume of 58,000 shares [1] - Boying Special Welding (301468) closed at 70.52, up 14.95% with a trading volume of 148,300 shares [1] - Kaishan Shares (300257) closed at 18.61, up 14.24% with a trading volume of 481,100 shares [1] - Dongmu Shares (600114) closed at 34.95, up 10.01% with a trading volume of 366,100 shares [1] Top Losers - Silin Jie (688115) closed at 59.46, down 16.37% with a trading volume of 39,300 shares [2] - Aerospace Power (600343) closed at 37.19, down 10.00% with a trading volume of 330,200 shares [2] - Luxin Investment (600783) closed at 26.01, down 9.56% with a trading volume of 931,200 shares [2] - Green Island Wind (301043) closed at 73.60, down 8.91% with a trading volume of 30,400 shares [2] Capital Flow - The general equipment sector experienced a net outflow of 103 million yuan from main funds, while retail funds saw a net inflow of 115 million yuan [2] - Retail investors had a net outflow of 12.17 million yuan [2] Individual Stock Capital Flow - Wu Zhi Electromechanical (300503) had a main fund net inflow of 264 million yuan, with a retail net outflow of 31.1 million yuan [3] - Dongling Shares (600114) saw a main fund net inflow of 256 million yuan, but a retail net outflow of 151 million yuan [3] - Wuzhou Xinchun (603667) had a main fund net inflow of 253 million yuan, with a retail net outflow of 139 million yuan [3]

本次系广东东睦和东莞华晶原高新技术企业证书有效期满后进行的重新认定。根据《中华人民共和国企 业所得税法》等有关规定，广东东睦和东莞华晶自通过高新技术企业认定后连续三年内可享受高新技术 企业的税收优惠政策，即按15%的税率缴纳企业所得税。本次控股子公司和孙公司通过高新技术企业重 新认定事项不会对公司已披露的经营业绩产生重大影响。 格隆汇1月9日丨东睦股份(600114.SH)公布，2026年1月9日，全国高新技术企业认定管理工作领导小组 办公室发布了《对广东省认定机构2025年认定报备的第二批高新技术企业进行备案的公告》、《对广东 省认定机构2025年认定报备的第三批高新技术企业进行备案的公告》，东睦新材料集团股份有限公司控 股子公司广东东睦新材料有限公司、孙公司东莞华晶粉末冶金有限公司均通过了高新技术企业重新认 定，但截至目前暂未收到高新技术企业证书。 ...

证券代码：600114 股票简称：东睦股份 编号：2026-005 东睦新材料集团股份有限公司 NBTM NEW MATERIALS GROUP Co., Ltd. 关于控股子公司和孙公司通过高新技术企业 重新认定的公告 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： 公司控股子公司广东东睦和孙公司东莞华晶通过高新技术企业重 新认定，但暂未收到高新技术企业证书 2026年1月9日，全国高新技术企业认定管理工作领导小组办公室发布 了《对广东省认定机构2025年认定报备的第二批高新技术企业进行备案的 公告》、《对广东省认定机构2025年认定报备的第三批高新技术企业进行 备案的公告》，东睦新材料集团股份有限公司（以下简称"公司"）控股 子公司广东东睦新材料有限公司（以下简称"广东东睦"）、孙公司东莞 华晶粉末冶金有限公司（以下简称"东莞华晶"）均通过了高新技术企业 重新认定，但截至目前暂未收到高新技术企业证书。高新技术企业证书编 号如下： | 序号 | 公司名称 | 高新技术企业证书编号 | | --- | ...

Core Viewpoint - Dongmu New Materials Group Co., Ltd. is acquiring assets from Shanghai Fuchi High-Tech Co., Ltd. with a valuation of 1.938 billion yuan, supported by a detailed assessment from Kunyuan Asset Appraisal Co., Ltd. [1] Group 1: Valuation Methods - The valuation of Shanghai Fuchi's equity was conducted using both asset-based and income approaches, with the income approach yielding a final adjusted value of 1.938 billion yuan after accounting for long-term payables [2] - The asset-based approach estimated the value at 938 million yuan, reflecting a 21.96% increase, while the income approach provided a valuation of 1.648 billion yuan [2] - The significant difference of 504 million yuan (44.08%) between the two methods is attributed to the differing scopes of value realization, with the income approach capturing intangible assets more comprehensively [2] Group 2: Financial Performance and Future Projections - Shanghai Fuchi is projected to achieve a net profit of 167 million yuan in 2024, marking a turnaround to profitability due to the recovery in the consumer electronics sector and increased production capacity [3] - The company's revenue is expected to grow from 2.178 billion yuan in 2025 to 2.705 billion yuan by 2029, with a profit increase from 217 million yuan to 257 million yuan during the same period [6] - As of September 30, 2025, Shanghai Fuchi has already achieved 85.84% of its annual revenue forecast, indicating strong performance [6] Group 3: Historical Acquisition Pricing - Since 2020, Dongmu has made three acquisitions of Shanghai Fuchi, with valuations of 1.385 billion yuan, 1.157 billion yuan, and 1.353 billion yuan, reflecting a consistent approach to valuation [4] - The initial acquisition in 2020 was based on an income valuation of 1.173 billion yuan, with a negotiated purchase price of 1.385 billion yuan, representing an 18% premium [4] - The company has not recorded any goodwill impairment since 2021, suggesting a low risk of future impairments [4] Group 4: Comparison with Industry Standards - The current valuation of 1.938 billion yuan represents a 43.24% increase from the previous valuation of 1.353 billion yuan in February 2025, driven by improved operating conditions [5] - Shanghai Fuchi's static P/E ratio of 11.61, dynamic P/E ratio of 6.06, and P/B ratio of 2.05 are all below industry averages, indicating a cautious and fair assessment [5] - The valuation increase of 105.44% is significantly lower than the average of comparable transactions, which stands at 512.04%, reinforcing the prudence of the assessment [5]

关于东睦新材料集团股份有限公司 发行股份及支付现金购买资产并募集配套资金暨关联交易 申请的审核问询函的回复 上海证券交易所： 按照贵所下发的《关于东睦新材料集团股份有限公司发行股份及支付现金购 买资产并募集配套资金暨关联交易申请的审核问询函》（上证上审并购重组） 〔2025〕73 号）（以下简称"审核问询函"）的要求，东睦新材料集团股份有限 公司（以下简称公司、上市公司或"东睦股份"）及相关中介机构就审核问询函 所提问题进行了认真讨论分析，现将相关回复说明如下。 本审核问询函回复（以下简称"本回复"）中的报告期指 2023 年、2024 年 和 2025 年 1-6 月；除此之外，如无特别说明，本回复所述的词语或简称与重组 报告书中释义所定义的词语或简称具有相同的含义。在本回复中，若合计数与各 分项数值相加之和在尾数上存在差异，均为四舍五入所致。本回复所引用的财务 数据和财务指标，如无特别说明，指合并报表口径的财务数据和根据该类财务数 据计算的财务指标。 | 审核问询函所列问题 | 黑体（加粗） | | --- | --- | | 审核问询函所列问题的回复、对重组报告书的引用 | 宋体 | | 对重组报告书的 ...

坤 元 资 产 评 估 有 限 公 司 CanWin Appraisal Co., Ltd 地址：杭州市钱江路 1366 号 华润大厦 B 座 13 楼 邮编：310020 电话：（0571）81726488 关于东睦新材料集团股份有限公司发行股份及支付现金 购买资产并募集配套资金暨关联交易申请的审核问询函 有关评估事项的回复 上海证券交易所： 由东睦新材料集团股份有限公司(以下简称东睦股份或上市公司)转来的上 证上审(并购重组)〔2025〕73 号《关于东睦新材料集团股份有限公司发行股份 及支付现金购买资产并募集配套资金暨关联交易申请的审核问询函》(以下简称 问询函)奉悉。我们已对问询函中需要我们说明的评估事项进行了审慎核查，现 将问询函中与资产评估相关的问题核查情况汇报如下： 问题三、关于评估方法和评估结论 根据申报材料，（1）本次评估采用资产基础法和收益法两种评估方法对上 海富驰股东全部权益价值进行评估，其中资产基础法下评估值为93,784.58万 元、增值率21.96%，收益法下评估值为164,800万元，最终选用收益法评估结果 作为评估结论；（2）上市公司与上海富驰现有股东于2025年4月24日达成 ...