Market Performance - The electronic chemicals sector rose by 2.02% on September 1, with Anji Technology leading the gains [1] - The Shanghai Composite Index closed at 3875.53, up 0.46%, while the Shenzhen Component Index closed at 12828.95, up 1.05% [1] Top Gainers - Anji Technology (code: 6108899) closed at 189.99, up 8.19% with a trading volume of 83,700 shares and a turnover of 1.524 billion yuan [1] - Jingrui Electric Materials (code: 300655) closed at 12.63, up 6.58% with a trading volume of 1.4895 million shares and a turnover of 1.833 billion yuan [1] - Tiantong Co., Ltd. (code: 600330) closed at 10.05, up 5.79% with a trading volume of 1.8434 million shares and a turnover of 1.828 billion yuan [1] Top Losers - Guangxin Materials (code: 300537) closed at 26.64, down 3.86% with a trading volume of 168,000 shares and a turnover of 45.5 million yuan [2] - Tongyu New Materials (code: 301630) closed at 200.20, down 2.78% with a trading volume of 13,000 shares and a turnover of 265 million yuan [2] - Zhongshi Technology (code: 300684) closed at 35.77, down 2.69% with a trading volume of 274,000 shares and a turnover of 97.6 million yuan [2] Fund Flow Analysis - The electronic chemicals sector experienced a net outflow of 212 million yuan from institutional investors, while retail investors saw a net inflow of 220 million yuan [2] - The detailed fund flow for key stocks shows varying trends, with Jingrui Electric Materials experiencing a net outflow of 643,000 yuan from retail investors [3] - Anji Technology had a net inflow of 54.948 million yuan from institutional investors, while retail investors faced a net outflow of 14.209 million yuan [3]

Group 1 - The company, Tiantong Co., Ltd. (600330.SH), announced that as of the end of August 2025, it had repurchased a total of 70,000 shares, which represents 0.0057% of its total share capital [1] - The highest purchase price for the repurchased shares was 6.95 CNY per share, while the lowest was 6.93 CNY per share [1] - The total amount spent on the repurchase was 485,400 CNY, excluding transaction fees [1]

Market Overview - The electronic chemicals sector experienced a decline of 0.3% on August 29, with Qiangli New Materials leading the drop [1] - The Shanghai Composite Index closed at 3857.93, up 0.37%, while the Shenzhen Component Index closed at 12696.15, up 0.99% [1] Stock Performance - Notable gainers in the electronic chemicals sector included: - Siquan New Materials (code: 301489) with a closing price of 208.00, up 10.58% [1] - Tianyan Technology (code: 688603) with a closing price of 91.18, up 7.78% [1] - Tiantong Co., Ltd. (code: 600330) with a closing price of 9.50, up 4.74% [1] - Conversely, significant decliners included: - Qiangli New Materials (code: 300429) with a closing price of 14.05, down 6.21% [2] - Shanghai Xinyang (code: 300236) with a closing price of 56.40, down 6.16% [2] - Weiteou (code: 301319) with a closing price of 29.85, down 3.46% [2] Capital Flow - The electronic chemicals sector saw a net outflow of 328 million yuan from institutional investors, while retail investors contributed a net inflow of 67.0063 million yuan [2] - The capital flow for specific stocks showed: - Tiantong Co., Ltd. had a net inflow of 10.7 million yuan from institutional investors [3] - Qiangli New Materials experienced a net outflow of 1.08 billion yuan from institutional investors [3] - Guoci Materials had a net inflow of 87.2449 million yuan from institutional investors [3]

Market Performance - The electronic chemicals sector rose by 4.12% on August 28, with Shanghai Xinyang leading the gains [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] Top Gainers in Electronic Chemicals - Shanghai Xinyang (300236) closed at 60.10, up 13.10% with a trading volume of 417,600 shares and a turnover of 2.454 billion [1] - Siquan New Materials (301489) closed at 188.10, up 11.57% with a trading volume of 57,300 shares and a turnover of 1.064 billion [1] - Feikai Materials (300398) closed at 24.07, up 6.60% with a trading volume of 758,700 shares and a turnover of 1.798 billion [1] Market Capital Flow - The electronic chemicals sector experienced a net outflow of 123 million from institutional investors and 182 million from speculative funds, while retail investors saw a net inflow of 305 million [2] - The detailed capital flow for individual stocks shows varying levels of net inflow and outflow among different companies [3] Individual Stock Capital Flow - Feikai Materials (300398) had a net inflow of 89.74 million from institutional investors, while it faced a net outflow of 77.46 million from retail investors [3] - Tiantong Co. (600330) saw a net inflow of 89.42 million from institutional investors, with a net outflow of 73.70 million from retail investors [3] - Anji Technology (688019) had a net inflow of 66.72 million from institutional investors, with a net outflow of 53.63 million from retail investors [3]

证券研究报告 天通股份 (600330 CH) 装备业务压力仍存，材料等业务向好 2025 年 8 月 27 日│中国内地 其他金属非金属新材料及加工 天通股份发布半年报，2025 年 H1 实现营收 15.84 亿元（yoy+1.00%）， 归母净利 5260.73 万元（yoy-33.29%）。其中 Q2 实现营收 8.69 亿元 （yoy+20.13%，qoq+21.70%），归母净利 464.57 万元（yoy-86.54%， qoq-90.31%）。公司在设备和材料细分领域均处于行业领先地位，目前设 备业务受市场环境影响导致整体业绩有所承压，静待行业景气回暖，但考虑 公司围绕新兴材料领域增强布局，因此维持"买入"评级。 公司材料业务稳健增长，专用设备营收和毛利大幅下滑 公司 25H1 电子表面贴装产品、材料销售及其他业务实现营收 13.7 亿 （yoy+24.97%）、0.64 亿（yoy-0.09%）；对应毛利为 2.55 亿（yoy+30%）、 0.39 亿元（yoy+92.73%），两项业务毛利合计占比 89.94%。因光伏行业 市场需求下行，导致公司专用设备业务销售额下降；25H1 公司该业 ...

Core Viewpoint - TianTong Co., Ltd. (600330) reported mixed financial results for the first half of 2025, with a slight increase in total revenue but a significant decline in net profit compared to the previous year [1]. Financial Performance Summary - Total revenue for the first half of 2025 reached 1.584 billion yuan, a year-on-year increase of 1.0% [1]. - Net profit attributable to shareholders was 52.61 million yuan, down 33.29% year-on-year [1]. - In Q2 2025, total revenue was 869 million yuan, reflecting a 20.13% increase year-on-year, while net profit dropped 86.54% to 4.65 million yuan [1]. - The gross margin was 20.63%, up 0.25% year-on-year, while the net margin fell to 3.33%, a decrease of 36.47% [1]. - Total receivables accounted for 2255.18% of the latest annual net profit, indicating a significant concern regarding accounts receivable management [4]. Key Financial Metrics - Operating expenses, including sales, management, and financial costs, totaled 180 million yuan, representing 11.35% of revenue, an increase of 5.9% year-on-year [1]. - Earnings per share (EPS) decreased to 0.04 yuan, down 32.81% year-on-year [1]. - Cash flow from operating activities showed a significant improvement, with a net cash flow of -0.05 yuan per share, an increase of 60.89% year-on-year [1]. Changes in Financial Items - Prepayments increased by 152.83% due to higher advance payments for essential raw materials in specialized equipment manufacturing [2]. - Inventory rose by 14.05% due to increased stock in electronic components and sapphire crystal materials [2]. - Short-term borrowings increased by 20.29% as a result of more bank loans for working capital [2]. - Long-term borrowings rose by 36.88% due to increased loans from subsidiaries [2]. Business Model and Investment Insights - The company's performance relies heavily on R&D, marketing, and capital expenditures, necessitating careful evaluation of capital projects and spending [4]. - The historical return on invested capital (ROIC) was low at 0.45%, indicating weak capital returns [3]. - The company has experienced two years of losses since its IPO, suggesting a fragile business model [3]. Fund Holdings - The largest fund holding TianTong shares is Shenwan Lingshin Quantitative Small Cap Stock (LOF) C, with a current scale of 159 million yuan and a recent net value increase of 0.36% [4].

Core Viewpoint - The company is holding a shareholder meeting on September 10, 2025, to discuss various resolutions, including amendments to its articles of association and governance rules, as well as a three-year shareholder return plan for 2025-2027 [1][2][12]. Group 1: Meeting Agenda - The meeting will include the announcement of attending shareholders and their represented shares, the agenda, and the voting process for various resolutions [1]. - A special resolution will be presented, and there will be a separate vote for minority shareholders holding less than 5% of shares [1][2]. - The meeting will conclude with the announcement of results and legal opinions from the attending lawyer [1]. Group 2: Amendments to Governance Documents - The company has proposed amendments to its articles of association, eliminating the supervisory board and transferring its powers to the audit committee of the board [2]. - Amendments to the rules governing shareholder meetings, board meetings, independent director work systems, related party transaction decision-making, external guarantee management, fundraising management, and external investment management have been approved [4][6][7][8][12]. - The revised documents are available on the Shanghai Stock Exchange website [2][4][6][7][8]. Group 3: Shareholder Return Plan - The company has developed a three-year shareholder return plan for 2025-2027, emphasizing a stable and continuous profit distribution policy [12][13]. - The plan prioritizes cash dividends, with a minimum of 15% of distributable profits to be allocated as cash dividends annually, and a cumulative minimum of 30% over the last three years [16]. - The company will ensure that the decision-making process for profit distribution includes input from shareholders, particularly minority shareholders [19][20].

每经AI快讯，有投资者在投资者互动平台提问：贵公司12英寸声学级铌酸锂晶体和12英寸光学级铌酸 锂晶体是否都已经开始量产？ 天通股份（600330.SH）8月26日在投资者互动平台表示，公司已经研发成功12英寸光学级和声学级铌 酸锂晶体，正在不断的优化工艺，提升效率。 （记者 谭玉涵） ...

天通控股股份有限公司 2025 年第一次临时股东大会 会 议 资 料 2025 年 9 月 10 日 天通控股股份有限公司 2025 年第一次临时股东大会会议议程 现场会议时间：2025 年 9 月 10 日（星期三）上午 10:00 网络投票时间：2025 年 9 月 10 日（星期三）。采用上海证券交易所网络投票系 统，通过交易系统投票平台的投票时间为 9:15-9:25,9:30-11:30，13:00-15:00； 通过互联网投票平台的投票时间为 9:15-15:00。 会议地点：浙江省海宁市经济开发区双联路 129 号公司会议室 主持人：董事长郑晓彬先生 会议议程： 一、宣布现场到会股东和股东委托代理人及代表股份数 二、宣布本次股东大会会议议程 三、审议会议议案 1、关于修订《公司章程》的议案 11、关于《未来三年（2025-2027 年）股东回报规划》的议案 上述议案 1 为特别决议议案；议案 11 为对中小投资者单独计票的议案，即 对持股 5%以下（不含持股 5%）的中小投资者表决进行单独计票。公司将根据计 票结果进行公开披露。 2、关于修订《股东会议事规则》的议案 3、关于修订《董事会议事规则 ...

Market Overview - The electronic chemicals sector experienced a decline of 0.53% on August 26, with Tongyu New Materials leading the drop [1] - The Shanghai Composite Index closed at 3868.38, down 0.39%, while the Shenzhen Component Index closed at 12473.17, up 0.26% [1] Stock Performance - Notable gainers in the electronic chemicals sector included: - Sanfu New Materials (688389) with a closing price of 73.20, up 10.46% [1] - Fivotech (688371) with a closing price of 23.27, up 6.35% [1] - Anji Technology (610889) with a closing price of 166.40, up 4.41% [1] - Conversely, significant decliners included: - Tongyu New Materials (301630) with a closing price of 199.23, down 8.75% [2] - Siquan New Materials (301489) with a closing price of 175.16, down 8.29% [2] - Shanghai Xinyang (300236) with a closing price of 53.75, down 3.98% [2] Capital Flow - The electronic chemicals sector saw a net outflow of 786 million yuan from institutional investors, while retail investors contributed a net inflow of 623 million yuan [2] - The capital flow for specific stocks showed: - Fivotech (688371) had a net inflow of 35.21 million yuan from institutional investors [3] - Anji Technology (610889) had a net inflow of 20.25 million yuan from institutional investors [3] - Tongyu New Materials (301630) experienced a significant net outflow of 49.42 million yuan from institutional investors [3]