Core Viewpoint - The company has initiated trial production of its synthetic quartz sand project and is continuously optimizing operational parameters and adjusting formulations [1] Group 1: Company Developments - The synthetic quartz sand project has commenced trial production [1] - The company is working on optimizing operational parameters and adjusting formulations [1] - Small batch orders for upstream products such as organic silicon, by-product silane, and electronic-grade silica sol are expected to be formed this year [1]

Core Viewpoint - The global ultra-thin flexible glass (UTG) industry is experiencing a critical phase of technological iteration and market expansion, with significant growth in the foldable smartphone market, which saw shipments reach 23.8 million units last year, reflecting a compound annual growth rate of over 24% [3][4]. Group 1: Industry Dynamics - The UTG solution has become the mainstream trend for foldable smartphone covers, with UTG covers accounting for 51% of the total domestic foldable smartphone volume in the first half of last year. It is projected that the domestic foldable smartphone UTG cover installation will grow to nearly 6.6 million units by 2025 [3][4]. - The rapid growth of the foldable screen market is driving demand for core glass and metal structural components, continuously enhancing the unit value of smartphones. The cover is a key technology for the "thinning" of foldable screens [3][4]. Group 2: Company Developments - **KaiSheng Technology**: The second phase of the UTG project is expected to reach operational status by October 2025, with four production lines already built and others in installation and debugging phases. The project has experienced some delays but is progressing based on market conditions [4][5]. - **Changxin Technology**: The subsidiary Dongxin Optoelectronics has successfully secured orders for Flip and Fold models, with plans to accelerate the construction of a new industrial park to meet domestic and international demand. They have developed a sliding roll UTG process and can now produce small batches [5][6]. - **Lens Technology**: Positioned to become a major supplier of UTG for Apple's foldable products, Lens has made significant progress in developing and validating new foldable screen products, with plans for capacity expansion to support mass production [6][7]. - **Said Semiconductor**: Currently holds nearly 90% of the domestic market share for UTG in terminal applications, with a production capacity of 700,000 pieces per month across two production lines [7][8]. - **SuChuan Technology**: Recently signed a project for a UTG flexible glass production line with a total investment of 3.8625 billion yuan, aiming for an annual production capacity of 5 million pieces [8][9]. - **Dowooinsys**: Innovating a "hybrid UTG" technology that enhances durability while maintaining thinness, with plans for mass production by 2026 [11][12]. Group 3: Market Trends - In the first half of 2025, seven brands launched new foldable smartphones, all utilizing UTG as the cover material, emphasizing "ultra-light" and "ultra-thin" as key selling points. This shift is pushing competition in the foldable smartphone market to a new level [17][18]. - Apple's first foldable iPhone is expected to be released by the end of 2026 or early 2027, featuring a horizontal fold design and utilizing UTG covers supplied by Lens Technology [17][18].

Core Viewpoint - Zirconia ceramics play a crucial role in advanced ceramics and are essential materials in modern high-tech industries. The market for zirconia ceramics in China is projected to reach 4.32 billion yuan in 2024, reflecting a year-on-year increase of 6.2% [1][14]. Industry Overview - Zirconia ceramics are high-performance materials based on zirconium oxide (ZrO2), known for their toughness, bending strength, and wear resistance. They are widely used in aerospace, automotive manufacturing, electronic information, and biomedical fields [3][8]. - The production process of zirconia ceramics involves several steps, including forming, debinding, and sintering, with various methods employed for each stage [5][6]. Industry Chain - The upstream of the zirconia ceramics industry involves the preparation and purification of raw materials, primarily zirconia powder, which is essential for high-quality ceramic production. The downstream includes various applications in sectors such as aerospace, automotive, electronics, and biomedical [8][10]. Market Dynamics - The market for zirconia ceramics is expanding due to continuous development in application fields. The demand for zirconia ceramics is expected to grow, particularly in the dental industry, where the market for dentures is projected to increase from 10.099 billion yuan in 2021 to 15.981 billion yuan by 2028 [12][14]. Competitive Landscape - Leading companies in the zirconia ceramics market include Guocera Materials, Dongfang Zirconium, and Sanxiang New Materials, which dominate the market due to their production scale, technological advantages, and brand influence [16]. Development Trends - The industry is witnessing ongoing technological innovations, including the development of nanomaterials and new sintering techniques, which enhance material performance and reduce production costs. The application of 3D printing technology is also becoming more prevalent [21][22]. - There is a growing emphasis on green and sustainable development within the zirconia ceramics industry, focusing on reducing emissions, optimizing production processes, and recycling resources [23][24].

Core Insights - Glass microspheres exhibit significant competitive advantages in material applications compared to traditional materials, with widespread use in plastics, coatings, oil extraction, and aerospace [1][11] - The market demand for glass microspheres is continuously growing, driven by the transformation of traditional industries and the rapid development of emerging industries [1][11] Industry Overview - Glass microspheres are a new type of material developed from borosilicate raw materials, with a particle size of 10-250 microns and a wall thickness of 1-2 microns, offering lightweight, low thermal conductivity, high strength, and good chemical stability [2][10] - The market size of China's glass microsphere industry is projected to grow from 1.432 billion yuan in 2015 to 2.767 billion yuan in 2024, with a compound annual growth rate (CAGR) of 7.59% [1][11] - The hollow glass microsphere segment is expected to grow from 716 million yuan in 2015 to 1.522 billion yuan in 2024, with a CAGR of 8.74% [1][11] Industry Chain - The upstream of the glass microsphere industry includes raw materials such as quartz sand, limestone, feldspar, and soda ash, which are crucial for the supply and quality of glass microsphere production [3][6] - The midstream involves the manufacturing of glass microspheres, while the downstream applications include reflective materials, coatings, ceramics, rubber, plastics, filtration materials, oil extraction, and aerospace [3] Production and Demand - China's glass microsphere production is expected to increase from 85,200 tons in 2015 to 170,300 tons in 2024, with a CAGR of 8% [10] - The demand for glass microspheres is projected to rise from 101,600 tons in 2015 to 201,700 tons in 2024, with a CAGR of 7.92% [10] - Hollow glass microspheres are gaining traction, with production expected to grow from 21,300 tons in 2015 to 51,100 tons in 2024, and demand from 25,400 tons to 60,500 tons during the same period [10] Market Trends - The glass microsphere industry is gradually moving towards high-end applications, focusing on high refractive index, high wear resistance, and high purity to meet the needs of aerospace, precision optics, and 5G communications [23] - The industry is expected to diversify its applications into emerging markets such as renewable energy, biomedicine, and electronic packaging, while also developing functional microspheres [24] - Environmental sustainability is becoming a key focus, with efforts to optimize production processes, reduce energy consumption, and explore recycling technologies [25] Key Players - Major players in the global glass microsphere industry are concentrated in developed countries, with significant contributions from companies like 3M, Swarco, and Potters Industries [14] - In China, notable companies include China Steel Group, Wanda Glass Microspheres, and Langsheng Kaibo, which are rapidly expanding their production capabilities [14][17]

Core Viewpoint - The global zircon concentrate market is undergoing structural adjustments, with increased production capacity in major regions like Australia and Mozambique leading to a significant rise in global zircon resource supply. This supply-side effect is transmitted to the domestic market, coinciding with the expansion of China's zirconia industry capacity, resulting in a downward trend in zirconia raw material prices [1][7][9]. Industry Overview - Zirconia, with the chemical formula ZrO₂, is the main oxide of zircon, characterized by its high melting point (approximately 2650℃ to 2715℃), high hardness (Mohs hardness can reach above 7.5), and excellent wear and corrosion resistance [2][4]. - The zirconia industry supply chain includes upstream raw materials like zircon sand, stabilizers, and additives, as well as production equipment. The midstream involves zirconia manufacturing, while downstream applications span structural ceramics, electronic ceramics, dental materials, lithium batteries, and more [5]. Industry Current Status - The global zircon concentrate market is experiencing a structural adjustment, with new production capacities in Australia and Mozambique leading to a significant increase in global zircon resource supply. This supply-side effect is transmitted to the domestic market, coinciding with the expansion of China's zirconia industry capacity, resulting in a downward trend in zirconia raw material prices. As of June 2025, the price of zirconia in China is 46,000 yuan per ton, a year-on-year decrease of 8.00% [1][7][11]. - The Chinese zirconia industry is facing overcapacity, leading to a supply surplus. Companies are compelled to lower prices to compete for market share, affecting the operating rates, which have remained below 50% in recent years. As of June 2025, the operating rate is 34.92%, a decrease of 5.04 percentage points month-on-month and 2.22 percentage points year-on-year [9][11]. Key Enterprises' Performance - The Chinese zirconia industry has developed a stable competitive landscape dominated by a few large enterprises. For instance, Sanxiang New Materials has expanded its electric melting zirconia capacity and has a leading effective capacity of 26,000 tons in China. Dongfang Zircon Industry has a complete integrated industrial chain and is the largest composite zirconia manufacturer in the country [13][17]. Industry Development Trends 1. **Technological Innovation**: The future development of the zirconia industry will be driven by technological innovation, with advancements in production processes like nanotechnology and sol-gel methods enhancing material performance [19]. 2. **Expanding Application Fields**: The demand for zirconia is expected to rise significantly in emerging sectors such as solid-state batteries and biomedical applications due to its excellent properties [20]. 3. **Government Support for Sustainable Development**: The industry will focus on green and high-end development, with government policies promoting sustainable practices and enhancing product quality and competitiveness [21].

划"）股票期权的首次授予登记工作，有关具体情况如下： 一、股票期权首次授予情况 凯盛科技股份有限公司（以下简称"公司"）于2025年6月13日召开第九届董事会薪酬与考核委员会第二 次会议、第九届董事会第四次会议，审议通过《关于向2024年股票期权激励计划激励对象首次授予股票 期权的议案》，同意公司以2025年6月13日为首次授予日，向符合条件的194名激励对象首次授予 1,630.00万份股票期权，首次授予的股票期权的行权价格为12.08元/份。公司薪酬与考核委员会对本次 授予股票期权的激励对象名单再次进行了核实。 根据公司2024年股票期权激励计划的规定和公司2025年第二次临时股东会授权，公司董事会已完成股票 期权的首次授予登记工作，股票期权的首次授予登记情况如下： 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： 根据中国证券监督管理委员会《上市公司股权激励管理办法》、上海证券交易所、中国证券登记结算有 限责任公司上海分公司有关规则的规定，凯盛科技股份有限公司（以下简称"公司"或"本公司"）完成了 《 ...

股票简称：凯盛科技 证券代码：600552 公告编号：2025-029 凯盛科技股份有限公司 关于2024年股票期权激励计划首次授予结果公告 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： ●股票期权首次授予登记日：2025年7月30日 ●股票期权首次授予登记数量：1,630.00万份 3、股票来源：公司向激励对象定向发行的公司A股普通股股票和/或从二级市场回购的公司A股普通股 股票。 4、首次授予对象：公司（含分公司及控股子公司，下同）任职的公司董事、高级管理人员和核心管 理、业务及技术骨干。 5、实际首次授予人数：194人。 ●股票期权首次授予登记人数：194人 根据中国证券监督管理委员会《上市公司股权激励管理办法》、上海证券交易所、中国证券登记结算有 限责任公司上海分公司有关规则的规定，凯盛科技股份有限公司（以下简称"公司"或"本公司"）完成了 《凯盛科技股份有限公司2024年股票期权激励计划（草案）》（以下简称"本次激励计划"、"激励计 划"）股票期权的首次授予登记工作，有关具体情况如下： 一、股 ...

股票简称：凯盛科技 证券代码：600552 公告编号：2025-029 凯盛科技股份有限公司 关于 2024 年股票期权激励计划首次授予结果公告 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： ●股票期权首次授予登记数量：1,630.00 万份 ●股票期权首次授予登记人数：194 人 根据中国证券监督管理委员会《上市公司股权激励管理办法》、上海证券交 易所、中国证券登记结算有限责任公司上海分公司有关规则的规定，凯盛科技股 份有限公司（以下简称"公司"或"本公司"）完成了《凯盛科技股份有限公司 2024 年股票期权激励计划（草案）》（以下简称"本次激励计划"、"激励计划"）股票 期权的首次授予登记工作，有关具体情况如下： 一、股票期权首次授予情况 凯盛科技股份有限公司（以下简称"公司"）于 2025 年 6 月 13 日召开第九届 董事会薪酬与考核委员会第二次会议、第九届董事会第四次会议，审议通过《关 于向 2024 年股票期权激励计划激励对象首次授予股票期权的议案》，同意公司 以 2025 年 6 月 1 ...

股票简称：凯盛科技 证券代码：600552 公告编号：2025-029 凯盛科技股份有限公司 关于 2024 年股票期权激励计划首次授予结果公告 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： ●股票期权首次授予登记日：2025 年 7 月 30 日 根据中国证券监督管理委员会《上市公司股权激励管理办法》、上海证券交 易所、中国证券登记结算有限责任公司上海分公司有关规则的规定，凯盛科技股 份有限公司（以下简称"公司"或"本公司"）完成了《凯盛科技股份有限公司 2024 年股票期权激励计划（草案）》（以下简称"本次激励计划"、"激励计划"）股票 期权的首次授予登记工作，有关具体情况如下： 一、股票期权首次授予情况 凯盛科技股份有限公司（以下简称"公司"）于 2025 年 6 月 13 日召开第九届 董事会薪酬与考核委员会第二次会议、第九届董事会第四次会议，审议通过《关 于向 2024 年股票期权激励计划激励对象首次授予股票期权的议案》，同意公司 以 2025 年 6 月 13 日为首次授予日，向符合条件的 ...

Market Overview - The Shanghai Composite Index closed at 3628.53 points, above the six-month moving average, with an increase of 0.52% [1] - The total trading volume of A-shares reached 1,102.239 billion yuan [1] Stocks Breaking Six-Month Moving Average - A total of 58 A-shares have surpassed the six-month moving average today [1] - Stocks with significant deviation rates include: - Fenglong Co., Ltd. (5.52%) - Rongke Technology (4.53%) - Keyuan Wisdom (3.66%) [1] Detailed Stock Performance - The following stocks showed notable performance: - Fenglong Co., Ltd. (10.03% increase, turnover rate 7.67%, latest price 17.34 yuan) - Rongke Technology (5.47% increase, turnover rate 6.14%, latest price 18.91 yuan) - Keyuan Wisdom (4.36% increase, turnover rate 8.52%, latest price 25.60 yuan) [1] - Other stocks with positive performance include: - Zhaoyi Innovation (4.47% increase) - Yuntian Lifa (5.06% increase) [1] Additional Stocks with Minor Deviations - Stocks with smaller deviation rates that just crossed the six-month line include: - Chahua Co., Ltd. - Tangshan Port - China Gold [1]