证券之星消息，10月28日塑料板块较上一交易日上涨1.24%，东材科技领涨。当日上证指数报收于 3988.22，下跌0.22%。深证成指报收于13430.1，下跌0.44%。塑料板块个股涨跌见下表： 从资金流向上来看，当日塑料板块主力资金净流入1.94亿元，游资资金净流出2.07亿元，散户资金净流入 1247.18万元。塑料板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 601208 | | 3.12 乙 | 14.72% | -1.53 Z | -7.19% | -1.60 Z | -7.53% | | 300539 横河精密 | | 7506.08万 | 7.85% | -4685.54万 | -4.90% | -2820.54万 | -2.95% | | 300806 | 斯迪克 | 4595.69万 | 6.72% | -2486.76万 | -3.64% | -2108.93万 ...

| 证券代 | 证券简 | 今日涨跌幅 | 今日换手率 | 五日均线 | 最新价 | 乖离率 | | --- | --- | --- | --- | --- | --- | --- | | 码 | 称 | （%） | （%） | （元） | （元） | （%） | | 688146 | 中船特 气 | 15.71 | 7.93 | 40.68 | 45.00 | 10.63 | | 603162 | 海通发 展 | 10.04 | 19.72 | 11.03 | 11.95 | 8.36 | | 920706 | 铁拓机 械 | 11.69 | 34.60 | 26.23 | 28.37 | 8.15 | | 603171 | 税友股 份 | 10.00 | 1.80 | 46.09 | 49.82 | 8.10 | | 600078 | 澄星股 份 | 10.06 | 7.79 | 8.91 | 9.63 | 8.08 | | 002217 | 合力泰 | 10.16 | 6.44 | 3.12 | 3.36 | 7.83 | | 002677 | 浙江美 大 | 9.99 | 5.07 | 7.36 | ...

丨证券研究报告丨 [Table_scodeMsg1] 公司研究丨点评报告丨东材科技（601208.SH） [Table_Title] 新产能放量推动收入较快增长，高速电子树脂前 景广阔 报告要点 [Table_Summary] 公司发布 2025 年三季报，前三季度实现收入 38.0 亿元（同比+17.2%），实现归属净利润 2.8 亿元（同比+19.8%），实现归属扣非净利润 2.3 亿元（同比+45.1%）。其中 Q3 单季度实现收入 13.7 亿元（同比+22.1%，环比+5.8%），实现归属净利润 0.9 亿元（同比+21.3%，环比-5.9%）， 实现归属扣非净利润 0.7 亿元（同比+44.6%，环比-11.1%）。公司拟每 10 股派发现金红利 1.0 元（含税）。 分析师及联系人 [Table_Author] 马太 王明 SAC：S0490516100002 SAC：S0490521030001 SFC：BUT911 SFC：BVA881 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 1 [Table_scodeMsg2] 东材科技（601208. ...

人民财讯10月28日电，PCB概念震荡走高，景旺电子、东材科技涨停，合力泰、宏和科技、大为股份此 前涨停，艾森股份、生益电子、楚江新材、燕麦科技、方正科技等股拉升。 （原标题：PCB概念震荡走高 景旺电子等涨停） ...

上 市 公 司 2025 年 10 月 26 日 东材科技 (601208) —— Q3 业绩环比略有下滑，看好高频高速树脂加速放量 报告原因：有业绩公布需要点评 增持（维持） | 市场数据： | 2025 年 10 月 24 日 | | --- | --- | | 收盘价（元） | 18.71 | | 一年内最高/最低（元） | 24.53/6.70 | | 市净率 | 3.2 | | 股息率%（分红/股价） | 0.53 | | 流通 A 股市值（百万元） | 19,049 | | 上证指数/深证成指 | 3,950.31/13,289.18 | | 注："股息率"以最近一年已公布分红计算 | | | 基础数据: | 2025 年 09 月 30 日 | | --- | --- | | 每股净资产（元） | 5.91 | | 资产负债率% | 45.35 | | 总股本/流通 A 股（百万） | 1,018/1,018 | | 流通 B 股/H 股（百万） | -/- | 一年内股价与大盘对比走势： 基础化工 10-24 11-24 12-24 01-24 02-24 03-24 04-24 05-24 ...

Summary of Dongcai Technology Conference Call Company Overview - **Company**: Dongcai Technology - **Date**: Q3 2025 Conference Call Key Points Financial Performance - In Q3 2025, Dongcai Technology achieved revenue of **1.372 billion** CNY, an increase of approximately **75 million** CNY or **6%** from Q2 2025 [3] - The net profit attributable to shareholders was **283 million** CNY, up nearly **50 million** CNY year-on-year [3] - Gross margin decreased by about **1 percentage point** compared to Q2 2025 [3] Business Segments - **Optical Film**: Revenue increased by approximately **37 million** CNY, contributing significantly to overall growth [3] - **Electronic Materials**: Revenue increased by **40 million** CNY, driven by high demand [3] - **Hydrocarbon Resin and OPE**: Revenue contributions were **50 million** CNY and **40 million** CNY respectively, showing significant growth [5] Future Outlook - For Q4 2025, Dongcai Technology expects continued growth in Hydrocarbon Resin and OPE, with a strong possibility of achieving the annual target of **600 million** CNY [6] - The Meishan project is progressing well, with expectations to contribute significantly to performance in the second half of **2026** [6][7] Product Performance - Optical film sales increased by nearly **18,000 tons** year-on-year, with price per ton rising to approximately **11,300 to 11,400** CNY, an increase of about **400** CNY from Q2 2025 [8][9] - Production volumes for key products in Q3 included: - Polarizers: **1,000 tons** - Car films and window films: **19,000 tons** - Touch products: **17,000 tons** - Backlight modules: **18,000 tons** [10] Challenges and Adjustments - The photovoltaic business is facing challenges due to declining market demand and oversupply in the PET film market, with potential impairment risks by year-end [4][15] - Dongcai Technology is adjusting its strategy to expand into non-photovoltaic fields to mitigate these risks [15] R&D and Competitive Position - R&D expenses have increased primarily due to higher costs of advanced resin materials, with a focus on the high-end digital segment [27] - The company emphasizes its early positioning in the high-speed digital sector, maintaining a competitive edge through ongoing R&D investments [21] Other Notable Information - Shandong Aiment's losses have significantly decreased in Q3, with expectations to break even in Q4 [12] - The overall improvement in the Huayang segment and the introduction of new businesses in the decentralized segment are contributing to better performance [12][14] Cash Flow and Management Expenses - Cash flow was reported as slightly weaker due to high accounts receivable and project construction expenses, but improvements are expected post-project peak [24][25] - Management expenses increased due to rising personnel costs and the opening of a new office in Chengdu [31] This summary encapsulates the key insights from the conference call, highlighting Dongcai Technology's financial performance, business segment growth, future outlook, challenges, and strategic adjustments.

Investment Rating - The investment rating for the company is "Buy" [6] Core Insights - The company reported a revenue of 3.803 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 17.18%, and a net profit attributable to shareholders of 283 million yuan, up 19.80% year-on-year. In Q3 alone, revenue reached 1.372 billion yuan, a 22.12% increase year-on-year and a 5.76% increase quarter-on-quarter, with a net profit of 93 million yuan, reflecting a 21.27% year-on-year increase but a 5.92% decrease quarter-on-quarter [1][2] Summary by Sections Sales Growth - The company experienced sales growth across multiple product lines in Q3, with year-on-year changes of +4.4% for electrical insulation, +22.3% for new energy, +18.4% for optical films, and +50.1% for electronic materials. Quarter-on-quarter changes were +19.6%, +6.0%, +7.7%, and +10.3% respectively. Average prices varied, with notable declines in new energy and optical films due to raw material price drops [2] Capacity Expansion - The company is set to benefit from significant growth in AI server demand, which will create substantial opportunities for its upstream supply chain, including copper-clad laminates and high-performance resins. The company currently has a production capacity of nearly 5,000 tons for high-speed resins, with a new 20,000-ton project under construction expected to be operational in 2026, potentially quadrupling its capacity [3] Financial Forecast - The company has adjusted its net profit forecast for 2025 to 400 million yuan, while maintaining projections of 790 million yuan and 1.19 billion yuan for 2026 and 2027 respectively. The current price corresponds to a PE ratio of 48.5 for 2025, 24.7 for 2026, and 16.4 for 2027. The company is recognized as a platform-type new materials company with promising products in high-end optical base films and high-speed resins [4]

收量 | 指数 收盘 涨跌（%） | | --- | | 名称 | | ┣证指数 3922 0.22 2.63 0.16 | | 深证综指 2458 0.22 -0.37 -0.25 | 2025 年 10 月 24 日 全球资产配置方法论靠合国架性报 黄金大跌高的后市演经 | 风格指数 | | 昨日 近１个月 近６个月 | | | --- | --- | --- | --- | | (%) | | | | | 大盘指数 >> | 0.33 | 1.82 - | 22.2 | | 中盘指数 > | 0.05 | -0.33 - | 28.12 | | 小盘指数 | 0.01 0.01 | -1.57 - | 22.32 | | 涨幅居前 行业(%) | 昨日 | 近１个月 近６个月 | | | --- | --- | --- | --- | | 焦炭Ⅱ | 5.27 | 18.55 | 37.28 | | 能渡等層 | 3.11 | 15.77 | 74.79 | | 炼化及贸易 | 2.41 | 6.33 | 9.47 | | 影视院线 | 2.4 | -6.14 | 7.58 | | 出版 | 2.24 ...

Investment Rating - The investment rating for the company is "Buy" [9][17] Core Insights - The company reported a year-on-year increase in revenue and net profit for Q3, driven by the growth in high-speed electronic resins, polypropylene films, and optical film materials [5][6] - The company plans to distribute a cash dividend of 1.00 yuan per 10 shares (tax included) [5] - The forecast for net profit attributable to the parent company for 2025-2027 is 406 million, 513 million, and 615 million yuan, respectively, with corresponding EPS of 0.40, 0.50, and 0.60 yuan per share [5] Financial Performance Summary - For the first three quarters of 2025, the company achieved revenue of 3.803 billion yuan, a year-on-year increase of 17.2%, and a net profit attributable to the parent company of 283 million yuan, up 19.8% year-on-year [5][6] - Q3 revenue reached 1.372 billion yuan, representing a year-on-year increase of 22.1% and a quarter-on-quarter increase of 5.8% [5] - The gross profit margin and net profit margin for the first three quarters of 2025 were 16.15% and 7.15%, respectively, showing improvements compared to the previous year [6][13] Business Segment Performance - Revenue from electrical insulation materials, new energy materials, optical film materials, electronic materials, and environmental flame retardant materials for the first three quarters of 2025 were 360 million, 998 million, 1.012 billion, 1.102 billion, and 113 million yuan, respectively [6][10] - The sales volume for optical film materials and electronic materials increased significantly, with year-on-year growth of 25.0% and 28.4%, respectively [6][10] Future Outlook - The company is expected to benefit from the orderly release of new production capacities in optical films and high-frequency high-speed resins, along with product structure optimization [5] - The projected P/E ratios for 2025-2027 are 48.2, 38.1, and 31.8 times, indicating a favorable valuation outlook [5][8]

Group 1 - The stock of Dongcai Technology fell by 5.21% to 18.21 CNY per share, with a trading volume of 342 million CNY and a turnover rate of 1.81%, resulting in a total market capitalization of 18.54 billion CNY [1] - Dongcai Technology, established on December 26, 1994, and listed on May 20, 2011, is based in Chengdu, Sichuan Province, and specializes in the research, manufacturing, and sales of new chemical materials [1] - The company's main business revenue composition includes: electronic materials (28.31%), new energy materials (27.27%), optical film materials (26.23%), electrical insulation materials (9.13%), and other materials [1] Group 2 - According to data from the top ten heavy stocks of funds, one fund under Huaxia Fund holds a significant position in Dongcai Technology, specifically the Huaxia Core Growth Mixed A (012703), which held 1.3998 million shares, accounting for 4.19% of the fund's net value [2] - The estimated floating loss for the fund today is approximately 139,980 CNY [2] - The Huaxia Core Growth Mixed A fund was established on December 3, 2021, with a current scale of 287 million CNY, and has achieved a year-to-date return of 18.48% [2]