Group 1 - The A-share market continues to show strength in the chemical sector, with notable stock increases including Hongbaoli up 9%, Jujiao Co. up 8%, and Rike Chemical up 6% [1] - The benchmark price for propylene oxide on January 21 is reported at 8233.33 yuan/ton, reflecting a 6.47% increase compared to the beginning of the month [1] - Over the past week (January 12 to 18), the price of propylene oxide has surged by 7.9%, leading the chemical market [1] Group 2 - Key stock performances include: - Hongbaoli with a market cap of 6.992 billion yuan and a year-to-date increase of 25.79% [2] - Jujiao Co. with a market cap of 4.897 billion yuan and a year-to-date increase of 27.46% [2] - Rike Chemical with a market cap of 3.598 billion yuan and a year-to-date increase of 15.87% [2] - Other notable stocks include Aladdin up 5.52%, Youcai Resources up 5.41%, and Qiaoyuan Co. up 5.23%, all showing strong year-to-date performance [2]

Core Viewpoint - The electronic chemicals sector experienced a significant increase of 4.9% on January 15, with Shanghai Xinyang leading the gains, while the overall Shanghai Composite Index fell by 0.33% [1]. Group 1: Market Performance - Shanghai Xinyang closed at 88.50, up 16.60%, with a trading volume of 389,100 shares and a transaction value of 3.207 billion [1]. - Nanda Optoelectronics saw a closing price of 62.75, increasing by 10.15%, with a trading volume of 1,556,000 shares [1]. - Hongchang Electronics closed at 8.19, up 8.05%, with a trading volume of 1,169,100 shares [1]. - The electronic chemicals sector's main stocks showed various increases, with notable performances from Feikai Materials and Jingrui Electric Materials, which rose by 6.94% and 6.34% respectively [1]. Group 2: Capital Flow - The electronic chemicals sector had a net inflow of 2.391 billion in main funds, while retail investors saw a net outflow of 2.183 billion [2]. - Nanda Optoelectronics had a main fund net inflow of 632 million, but retail investors experienced a net outflow of 516 million [3]. - Jingrui Electric Materials reported a main fund net inflow of 351 million, with retail investors seeing a net outflow of 477 million [3].

Group 1 - The electronic chemicals sector increased by 1.2% on January 14, with Tiancheng Technology leading the gains [1] - The Shanghai Composite Index closed at 4126.09, down 0.31%, while the Shenzhen Component Index closed at 14248.6, up 0.56% [1] - Key stocks in the electronic chemicals sector showed significant price movements, with Tiancheng Technology rising by 14.28% to a closing price of 93.37 [1] Group 2 - The electronic chemicals sector experienced a net outflow of 607 million yuan from institutional investors, while retail investors saw a net inflow of 674 million yuan [2] - Notable stocks with significant net inflows from retail investors include Wanrun Co., which had a net inflow of 100 million yuan [3] - The overall trading volume and turnover for various stocks in the electronic chemicals sector varied, with Wanrun Co. achieving a turnover of 1.08 billion yuan [1][3]

Core Viewpoint - The company has made progress in obtaining certifications for its GA-688N and GA-688U products from several downstream terminal and PCB customers, and is currently pursuing small orders [1] Group 1 - The company has achieved certification for GA-688N and GA-688U from several downstream terminal and PCB customers [1] - The company is actively engaging with terminal and PCB customers to conduct material testing and promote its products [1]

Core Viewpoint - The company has confirmed that the construction of the 80,000-ton electronic-grade functional epoxy resin project in Zhuhai has been completed and is currently in the trial production registration phase, indicating progress towards the planned operational timeline [1] Group 1 - The project was initially scheduled to reach operational status by December 2025 [1] - The company is currently undergoing trial production registration in compliance with safety regulations [1] - Investors are encouraged to monitor the company's announcements on the Shanghai Stock Exchange for further updates regarding the project's progress [1]

Project Construction Status - The company has completed the construction of the "Functional High-End Copper Clad Laminate Electronic Materials Project" through its wholly-owned subsidiary, Zhuhai Hongren Electronic Materials Technology Co., Ltd, and has commenced production as planned [2]. Impact on the Company - The completion of this project will enhance the company's production capacity, expand its scale, and optimize its product structure, aligning with the company's long-term strategic development and improving its market competitiveness. This is expected to have a positive impact on the company's future operating performance and further solidify its industry-leading position [3]. Fundraising and Project Delay - The company has raised a total of RMB 1,168.30 million through a specific stock issuance, with a net amount of RMB 1,154.14 million after deducting issuance costs. All raised funds have been fully utilized, and the fundraising account has been closed [5][6]. - The company has decided to postpone the project "Zhuhai Hongchang Electronic Materials Co., Ltd. Annual Production of 80,000 Tons of Electronic Grade Functional Epoxy Resin Project" to June 30, 2026, due to the need for trial production and safety inspections before full production can commence [7][9]. Project Delay Justification - The delay is a cautious decision based on the actual progress of the project, which has been completed. The project involves hazardous chemicals, requiring compliance with safety regulations before trial production can begin [7][9]. Assurance of No Adverse Impact - The postponement of the project will not significantly affect the company's current production and operations. The decision has followed necessary procedures and does not violate any regulations regarding the use of raised funds [8][9].

Core Viewpoint - Hongchang Electronics (603002.SH) has announced the successful completion of its project for the production of functional high-end copper-clad laminate electronic materials, which is implemented by its wholly-owned subsidiary, Zhuhai Hongren Electronic Materials Technology Co., Ltd. [1] Group 1 - The company has raised funds through a targeted stock issuance to invest in the aforementioned project [1] - The related engineering construction for the project has been completed as planned [1] - The project has commenced production following the completion of the necessary construction [1]

Group 1 - The company, Macrotronics (603002.SH), has announced the completion of its project for the "Functional High-End Copper Clad Laminate Electronic Materials" [1] - The project is implemented by the company's wholly-owned subsidiary, Zhuhai Hongren Electronic Materials Technology Co., Ltd. [1] - The company has successfully commenced production as planned following the completion of the relevant engineering construction [1]

Group 1 - China Medical plans to acquire 70% equity of Zezheng Pharmaceutical for 525 million yuan to enhance its R&D capabilities in the pharmaceutical sector [1] - Hongchang Electronics has commenced production of its functional high-end copper-clad laminate electronic materials project [2] - China State Construction has secured multiple major projects totaling 32.09 billion yuan, which represents 1.5% of its audited revenue for 2024 [3] Group 2 - China Resources Double Crane has established an industrial fund with a committed investment of 83 million yuan, targeting a total fundraising goal of 500 million yuan [4] - Pinggao Electric and its subsidiaries have won state grid procurement projects worth approximately 876 million yuan, accounting for 7.06% of its 2024 revenue [5] - Dong'an Power received a government subsidy of 2.47 million yuan, with 1.47 million yuan related to assets and 1 million yuan related to income [6] Group 3 - Nantian Information has paid overdue taxes and penalties totaling 50.31 million yuan, which will impact its net profit for 2025 [7] - Erli Six has changed its investment plan to establish a wholly-owned subsidiary in Hong Kong for submarine cable business with an investment of 320 million yuan [8] - Dream Lily plans to invest 170 million yuan in an e-commerce warehouse project at its East US factory [9] Group 4 - Shen Shen Fang A's controlling shareholder has terminated the agreement to transfer 7.07% of the company's shares to Dongfang Asset, with no change in control [10] - Tianfu Culture has signed strategic cooperation framework agreements with various cultural and tourism bureaus to promote film and tourism integration [11] - Jinzi Tianzheng's chairman has resigned due to work adjustments, but will continue to fulfill his duties until a new chairman is elected [12] Group 5 - Jiangshan Oupai and its subsidiaries received government subsidies totaling 10.04 million yuan, with 7.51 million yuan related to income [13] - Ninghu Expressway plans to increase its investment in Jiangsu Danjin Expressway Co., Ltd. by 128 million yuan to support highway construction [14] - Jiangyin Bank has received approval for the qualifications of its employee director and vice president [15] Group 6 - Aoxiang Pharmaceutical has received approval for the listing application of two chemical raw materials [16] - Daye Co. has not yet commenced mass production of its robotic tendon products, with ongoing uncertainties in technology and profitability [17] - Rongsheng Environmental has proposed a cash dividend of 3.8 yuan per 10 shares, totaling approximately 97.36 million yuan [19] Group 7 - Yunyi Electric plans to invest 66 million USD in Morocco to establish a wholly-owned subsidiary and production base [20] - Derun Electronics has reached an agreement regarding the delayed payment of 100 million yuan in equity transfer funds [21] - Baihua Pharmaceutical is planning a change in control, leading to a continued suspension of its stock [22] Group 8 - CITIC Bank's executive director and president has resigned due to work adjustments [23] - Haizike's subsidiary has received acceptance for clinical trial applications for two innovative drugs [24] - Tianrun Dairy's subsidiaries received government subsidies totaling 21.53 million yuan, representing 49.32% of its net profit for 2024 [25] Group 9 - Andisou plans to issue 398 million A-shares at 7.54 yuan per share, raising a total of 3 billion yuan [26][27] - Fuda Co. has completed the transfer of its 50% stake in a joint venture, which is expected to positively impact its 2025 financial results [28] - Jianghua Micro has received environmental approval for a project to produce 37,000 tons of ultra-pure wet electronic chemicals [29] Group 10 - Nanwang Technology received a government subsidy of 10 million yuan, accounting for 0.66% of its net assets for 2024 [30] - Changgao Electric New has won state grid procurement projects totaling 161 million yuan, representing 9.14% of its 2024 revenue [31] - Huaxin Precision plans to invest up to 600 million yuan of idle funds in low-risk financial products [32] Group 11 - Fuguang Co. received a government subsidy of 1.26 million yuan for basic research projects, which is 13.27% of its net profit for 2024 [33] - Benli Technology has obtained a drug production license, which will help optimize its product structure [34] - Jintuo Co. proposed a cash dividend of 4.1 yuan per 10 shares, totaling approximately 99.48 million yuan [35] Group 12 - Kang Enbei has elected a new chairman and vice chairman during its board meeting [36] - Sanyuan Bio has completed the construction and installation of equipment for the remaining capacity of its 20,000-ton alulose project [38]

本项目建成投产将使公司生产能力进一步提高，规模进一步扩大，进一步优 化产品结构，符合公司长远发展的战略规划，有助于提高公司市场竞争力。同时 对公司未来经营业绩产生积极的影响，进一步巩固公司行业优势地位。 证券代码：603002 证券简称：宏昌电子 公告编号：2025-045 宏昌电子材料股份有限公司关于 全资孙公司珠海宏仁"功能性高阶覆铜板电子材料项 目"投产的公告 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。 一、项目建设情况 近日，宏昌电子材料股份有限公司（以下简称"公司"）向特定对象发行股 票募集资金投资项目"功能性高阶覆铜板电子材料项目"（以下简称"本项目"， 项目实施主体为公司全资孙公司珠海宏仁电子材料科技有限公司），按计划完成 了相关工程建设，投入生产。 二、对公司的影响 三、风险提示 本项目从投产到完全达产尚需一定时间，未来还将可能面临政策调整、市场 变化、价格波动、竞争加剧等因素的影响，存在项目效益不及预期的风险。公司 将综合市场情况，客户需求等各方因素组织生产运营，敬请广大投资者注意投资 风险。 1 ...