每经AI快讯，8月29日，有研新材(600206.SH)公告称，上半年实现营业收入40.96亿元，同比下降 9.76%；归属于上市公司股东的净利润1.30亿元，同比增长218.47%。 （文章来源：每日经济新闻） ...

智通财经APP讯，有研新材(600206.SH)发布2025年半年度报告，报告期内，公司实现营业收入40.96亿 元，同比下降9.76%。实现归属于上市公司股东的净利润1.3亿元，同比增长218.47%。实现归属于上市 公司股东的扣除非经常性损益的净利润1.22亿元，同比增长327.61%。基本每股收益0.154元。 ...

[Part I Important Notice](index=2&type=section&id=Part%20I%20Important%20Notice) This section provides the report's declaration, management's guarantee of accuracy, and confirms no semi-annual profit distribution plan [1.1 Report Statement and Profit Distribution Plan](index=2&type=section&id=1.1%20Report%20Statement%20and%20Profit%20Distribution%20Plan) This unaudited semi-annual report summary, guaranteed by management for accuracy, confirms no profit distribution or capital increase plan for the period - This semi-annual report summary is derived from the full semi-annual report; investors should read the full text for a comprehensive understanding of the company's operating results, financial position, and future development plans[3](index=3&type=chunk) - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the report's content and assume legal responsibility[4](index=4&type=chunk) - This semi-annual report is unaudited, and the company has no semi-annual profit distribution plan or capital reserve to share capital increase plan[6](index=6&type=chunk)[7](index=7&type=chunk) [Part II Company Profile](index=2&type=section&id=Part%20II%20Company%20Profile) This section details the company's basic information, key financial data, shareholder structure, and confirms no changes in control [2.1 Company Overview](index=2&type=section&id=2.1%20Company%20Overview) GRIAM Advanced Materials Co., Ltd. (600206) is listed on the Shanghai Stock Exchange, with key contacts for investor relations Company Stock Summary | Stock Type | Listing Exchange | Stock Abbreviation | Stock Code | Former Stock Abbreviation | | :--- | :--- | :--- | :--- | :--- | | A-share | Shanghai Stock Exchange | GRIAM Advanced Materials | 600206 | GRIAM Silicon | Contacts and Contact Information | Contact Person and Information | Board Secretary | Securities Affairs Representative | | :--- | :--- | :--- | | Name | Yang Yang | Yan Huan | | Phone | 010-62369559 | 010-62023601 | | Office Address | 18th Floor, D Block, GRIAM Technology Innovation Center, No. 2 Xinjiekouwai Street, Xicheng District, Beijing | 18th Floor, D Block, GRIAM Technology Innovation Center, No. 2 Xinjiekouwai Street, Xicheng District, Beijing | | Email | stock@griam.cn | yanhuan@griam.cn | [2.2 Key Financial Data](index=2&type=section&id=2.2%20Key%20Financial%20Data) Total assets and net assets grew, while operating revenue declined; however, net profit and total profit saw substantial increases Key Financial Data (Unit: RMB Yuan) | Indicator | End of Reporting Period/Current Period | End of Prior Year/Prior Period | Change (%) / Change | | :--- | :--- | :--- | :--- | | **Balance Sheet** | | | | | Total Assets | 6,794,013,479.93 | 6,503,356,155.69 | 4.47 | | Net Assets Attributable to Shareholders of Listed Company | 3,957,085,223.19 | 3,917,378,324.37 | 1.01 | | **Income Statement** | | | | | Operating Revenue | 4,095,602,630.65 | 4,538,734,120.27 | -9.76 | | Total Profit | 118,937,221.46 | 29,056,327.61 | 309.33 | | Net Profit Attributable to Shareholders of Listed Company | 130,127,397.51 | 40,860,473.12 | 218.47 | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-recurring Gains and Losses | 122,499,739.45 | 28,647,300.70 | 327.61 | | **Cash Flow Statement** | | | | | Net Cash Flow from Operating Activities | -225,058,063.40 | -953,177,100.93 | Not Applicable | | **Other Indicators** | | | | | Weighted Average Return on Net Assets (%) | 3.27 | 1.08 | Increased by 2.19 percentage points | | Basic Earnings Per Share (RMB/share) | 0.154 | 0.048 | 220.83 | | Diluted Earnings Per Share (RMB/share) | 0.154 | 0.048 | 220.83 | [2.3 Top 10 Shareholders' Shareholding](index=3&type=section&id=2.3%20Top%2010%20Shareholders'%20Shareholding) The company has 163,533 shareholders, with China GRIAM Group as the largest, and institutional investors among the top ten - As of the end of the reporting period, the company had a total of **163,533 shareholders**, with no preferred shareholders whose voting rights have been restored[13](index=13&type=chunk) Top 10 Shareholders' Shareholding (Unit: Shares) | Shareholder Name | Shareholder Nature | Shareholding Ratio (%) | Number of Shares Held | Number of Restricted Shares Held | Number of Pledged, Marked, or Frozen Shares | | :--- | :--- | :--- | :--- | :--- | :--- | | China GRIAM Group Co., Ltd. | State-owned Legal Person | 33.09 | 280,098,368 | 0 | None | | Guangdong Yuecai Trust Co., Ltd. - Yuecai Trust · Yuezhong No. 3 Single Fund Trust Plan | Unknown | 1.74 | 14,709,059 | 0 | Unknown | | China Rare Earth Co., Ltd. | State-owned Legal Person | 1.58 | 13,340,000 | 0 | Unknown | | Guotai Junan Securities Co., Ltd. - Guolian An CSI All-Share Semiconductor Products and Equipment ETF | Unknown | 0.74 | 6,278,052 | 0 | Unknown | | Hong Kong Securities Clearing Company Limited | Unknown | 0.69 | 5,808,623 | 0 | Unknown | | China Merchants Bank Co., Ltd. - Southern CSI 1000 ETF | Unknown | 0.65 | 5,476,804 | 0 | Unknown | | Wang Bin | Unknown | 0.39 | 3,296,600 | 0 | Unknown | | China Merchants Bank Co., Ltd. - China Asset Management CSI 1000 ETF | Unknown | 0.38 | 3,224,143 | 0 | Unknown | | China Construction Bank Co., Ltd. - Harvest CSI Rare Earth Industry ETF | Unknown | 0.36 | 3,019,359 | 0 | Unknown | | GF Securities Co., Ltd. - Guotai CSI Semiconductor Materials and Equipment Theme ETF | Unknown | 0.32 | 2,707,500 | 0 | Unknown | - The company's largest shareholder, China GRIAM Group Co., Ltd., has no affiliated relationship with the other unrestricted shareholders listed above. The company is unaware of any affiliated relationships among other unrestricted shareholders or whether they are acting in concert[14](index=14&type=chunk) [2.4 Changes in Preferred Shareholders and Controlling Shareholder](index=4&type=section&id=2.4%20Changes%20in%20Preferred%20Shareholders%20and%20Controlling%20Shareholder) No preferred shareholders, no changes in controlling shareholder or actual controller, and no outstanding bonds during the reporting period - As of the end of the reporting period, the company had no preferred shareholders[15](index=15&type=chunk) - During the reporting period, there were no changes in the company's controlling shareholder or actual controller[15](index=15&type=chunk) - As of the approval date of the semi-annual report, the company had no outstanding bonds[15](index=15&type=chunk) [Part III Significant Events](index=4&type=section&id=Part%20III%20Significant%20Events) This section confirms no significant changes in operating performance or major impactful events during the reporting period [3.1 Major Changes and Impacts on Operating Performance During the Reporting Period](index=4&type=section&id=3.1%20Major%20Changes%20and%20Impacts%20on%20Operating%20Performance%20During%20the%20Reporting%20Period) No significant changes in operating performance or matters with major current or future impact occurred during the reporting period - During the reporting period, there were no significant changes in the company's operating performance[16](index=16&type=chunk) - During the reporting period, no matters with a significant impact or expected future significant impact on the company's operations occurred[16](index=16&type=chunk)

有研新材8月29日披露半年报，公司上半年实现营业收入40.96亿元，同比下降9.76%；归属于上市公司 股东的净利润1.3亿元，同比增长218.47%；基本每股收益0.154元/股。 ...

Core Insights - The A-share military industry stocks have shown strong performance, with notable increases in share prices for several companies [1] Group 1: Stock Performance - Aerospace Hongtu (航天宏图) increased by 17.97%, with a total market capitalization of 10.1 billion and a year-to-date increase of 89.85% [2] - Jiezhong Technology (捷众科技) rose by 15.01%, with a market cap of 2.307 billion and a year-to-date increase of 97.39% [2] - North Long Dragon (北方长龙) saw a 13.83% increase, with a market cap of 16.5 billion and a staggering year-to-date increase of 419.86% [2] - Tianwo Technology (天沃科技) increased by 10.06%, with a market cap of 7.893 billion and a year-to-date increase of 106.52% [2] - Jianghai Co., Ltd. (江海股份) rose by 10.01%, with a market cap of 28.3 billion and a year-to-date increase of 92.12% [2] - Other notable performers include Zhehai De Man (浙海德曼) and Xing Sen Technology (兴森科技), both showing increases of over 7% [1][2]

截至8月27日收盘，稀土永磁概念上涨0.10%，位居概念板块涨幅第4，板块内，26股上涨，北矿科技涨 停，大地熊、北方稀土、立中集团等涨幅居前，分别上涨10.36%、8.86%、7.07%。跌幅居前的有科隆 股份、瑞晨环保、金田股份等，分别下跌5.65%、5.63%、5.05%。 | 300127 | 银河磁 | 3.61 | 17.14 | 7587.54 | 5.71 | | --- | --- | --- | --- | --- | --- | | | 体 | | | | | | 002057 | 中钢天 | 4.38 | 17.64 | 6215.97 | 4.06 | | | 源 | | | | | | 600549 | 厦门钨 | 1.20 | 6.72 | 6086.97 | 2.01 | | | 业 | | | | | | 600366 | 宁波韵 升 | 0.00 | 12.79 | 5918.50 | 2.57 | | 300631 | 久吾高 | 1.08 | 14.43 | 3410.83 | 5.51 | | | 科 | | | | | | 000969 | 安泰科 技 | 0.07 ...

Core Viewpoint - The semiconductor sputtering target materials industry, often overlooked, is crucial for the semiconductor supply chain, with significant investment potential as domestic alternatives emerge to replace long-standing foreign monopolies [2][4]. Industry Overview: What are Sputtering Target Materials? - Sputtering target materials are essential for physical vapor deposition (PVD) processes, creating functional thin films on substrates like silicon wafers through magnetron sputtering technology [6][8]. - These materials are critical for manufacturing integrated circuits, specifically in metal interconnect layers, barrier layers, and contact layers, requiring ultra-high purity (typically above 99.9995%) and precise dimensions [8][12]. Classification of Targets - Targets are categorized by material type: metal targets (e.g., copper, aluminum), alloy targets (e.g., copper-manganese), and ceramic targets (e.g., indium tin oxide) [12][10]. - Each type serves specific functions in semiconductor applications, with increasing purity and structural uniformity requirements as technology advances [12][13]. Upstream Supply: High-Purity Metals and Equipment - The upstream supply involves high-purity metal and non-metal raw materials, with significant reliance on imports for high-purity materials [15][16]. - Key domestic producers include Xinjiang Zhonghe for aluminum and Jiangfeng Electronics for tungsten, while global leaders include Hydro for high-purity aluminum and Hitachi Metals for tungsten [16][15]. Midstream Manufacturing: Technically Intensive Core Segment - The midstream segment encompasses the manufacturing of sputtering targets, involving complex processes such as melting, forming, and binding, requiring significant R&D investment [18][17]. - Precision in temperature, time, and atmosphere during melting is crucial for ensuring material uniformity and purity [18]. Downstream Coating: Sputter Coating - The main coating processes include PVD and chemical vapor deposition (CVD), with PVD being the predominant method in semiconductor and display applications [19][21]. - The sputtering coating market is largely dominated by American and Japanese multinational corporations [21]. Terminal Applications: Core Demand from Semiconductor Industry - Downstream applications are primarily in semiconductor chip manufacturing, where sputtering target materials are vital for forming key chip structures [22][23]. - The demand for high-quality sputtering targets is driven by the increasing performance requirements of chips in high-performance computing, AI, and 5G communications [22][23]. Market Situation - The global sputtering target market has grown from 82.1 billion yuan in 2018 to 116.3 billion yuan in 2022, with a compound annual growth rate (CAGR) of 9.1% [47]. - The market is projected to reach 194.5 billion yuan by 2027, with a CAGR of 10.7% during the forecast period [47]. Competitive Landscape - The global sputtering target market is characterized by an oligopoly, with major players like JX Nippon Mining, Honeywell, and Tosoh dominating approximately 80% of the market [60][62]. - Domestic companies such as Jiangfeng Electronics and Yuyuan New Materials are making significant strides in technology and market penetration, particularly in the midstream segment [64]. Future Development Trends - The industry is expected to see increased demand for higher purity and quality sputtering targets as semiconductor processes advance to 3nm and below [68]. - Emerging applications in AI, IoT, and automotive sectors are anticipated to drive further growth in the sputtering target market [69]. Core Investment Logic - Investing in semiconductor sputtering targets is fundamentally about investing in certainty, as demand remains closely tied to capital expenditures in wafer manufacturing [74]. - The industry is protected by high technical barriers, long certification cycles, and strong customer loyalty, making it difficult for new entrants [75]. - The narrative of domestic substitution presents a significant investment opportunity, with domestic leaders poised to capture market share from established foreign players [76].

Market Overview - The semiconductor sector increased by 1.04% on August 13, with Zhongchuan Special Gas leading the gains [1] - The Shanghai Composite Index closed at 3683.46, up 0.48%, while the Shenzhen Component Index closed at 11551.36, up 1.76% [1] Top Gainers in Semiconductor Sector - Zhongchuan Special Gas (688146) closed at 44.86, up 20.01% with a trading volume of 310,400 shares and a transaction value of 1.376 billion [1] - Sawing Wall Technology (688270) closed at 68.51, up 15.63% with a trading volume of 262,800 shares [1] - Shanghai HePin (688584) closed at 26.18, up 14.52% with a trading volume of 431,000 shares [1] - Liyang Chip (688135) closed at 24.40, up 14.23% with a trading volume of 183,600 shares [1] Decliners in Semiconductor Sector - Juguang Technology (688167) closed at 100.20, down 3.65% with a trading volume of 62,400 shares [2] - Xindao Technology (688230) closed at 72.71, down 2.56% with a trading volume of 32,900 shares [2] - Jinghua Micro (688130) closed at 25.52, down 2.48% with a trading volume of 52,800 shares [2] Capital Flow Analysis - The semiconductor sector experienced a net outflow of 2.551 billion from institutional investors, while retail investors saw a net inflow of 2.53 billion [2] - The net inflow from speculative funds was 20.592 million [2] Individual Stock Capital Flow - Haowei Group (603501) had a net inflow of 476 million from institutional investors, while it faced a net outflow of 240 million from speculative funds [3] - Ziguang Guowei (002049) saw a net inflow of 199 million from institutional investors, with a net outflow of 85.01 million from speculative funds [3] - Long Electric Technology (600584) had a net inflow of 169 million from institutional investors, with a net outflow of 39.93 million from speculative funds [3]

有研新材最新一期业绩显示，截至2025一季报，公司营业总收入18.40亿元、同比减少18.67%，归属净 利润6738.47万元，同比增长14698.12%，扣非净利润6293.78万元，同比增长1291.50%，流动比率 2.439、速动比率1.727、资产负债率33.02%。 来源：金融界 金融界消息 截至2025年8月13日收盘，有研新材（600206）报收于19.5元，上涨1.77%，换手率6.3%， 成交量53.31万手，成交金额10.35亿元。 天眼查商业履历信息显示，有研新材料股份有限公司，成立于1999年，位于北京市，是一家以从事计算 机、通信和其他电子设备制造业为主的企业。企业注册资本84655.3332万人民币，实缴资本84655.3332 万人民币。公司法定代表人为艾磊。 资金流向方面，今日主力资金净流入5807.03万元，占比成交额5.61%。其中，超大单净流入5343.83万 元、占成交额5.17%，大单净流入463.20万元、占成交额0.45%，中单净流出流出2730.41万元、占成交 额2.64%，小单净流出3076.61万元、占成交额2.97%。 通过天眼查大数据分析，有研新材 ...

公司本次向特定对象发行A股股票事项尚需通过上交所审核，并获得中国证券监督管理委员会（以下简 称"中国证监会"）作出同意注册的决定后方可实施，最终能否通过上交所审核，并获得中国证监会同意 注册的决定及其时间尚存在不确定性。公司将根据该事项的进展情况及时履行信息披露义务，敬请广大 投资者注意投资风险。 有研新材料股份有限公司关于 特此公告。 有研新材料股份有限公司董事会 2024年度向特定对象发行A股股票申请获得 登录新浪财经APP 搜索【信披】查看更多考评等级 上海证券交易所受理的公告 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。 证券代码：600206 证券简称：有研新材 公告编号：2025-048 有研新材料股份有限公司（以下简称"公司"）于2025年8月7日收到上海证券交易所（以下简称"上交 所"）出具的《关于受理有研新材料股份有限公司沪市主板上市公司发行证券申请的通知》（上证上审 （再融资）〔2025〕238号），上海证券交易所依据相关规定对公司报送的沪市主板上市公司发行证券 的募集说明书及相关申请文件进行了核对 ...