Core Viewpoint - The photovoltaic industry chain stocks are experiencing active trading, with several companies hitting the upper limit of their price increase, indicating a potential bottoming out of stock prices in the sector [1] Industry Summary - The prices in the photovoltaic industry chain are rapidly approaching a bottom, with expectations that the reasonable bottom price will be reached soon [1] - There is a concern in the market regarding absolute oversupply in the industry chain, which may affect next year's industry prosperity and the profitability of the midstream sector [1] - The recent acceleration in price declines suggests that silicon materials will soon reach their bottom price in this downward cycle, allowing for clearer visibility on profitability across various segments [1] Company Summary - Companies such as Kexin Electric, Jingyuntong, Dadongnan, and Lushan New Materials have seen significant stock price increases, indicating investor confidence in the sector's recovery [1] - The midstream sector, represented by integrated components, is expected to maintain profitability without the significant compression feared by the market, providing a potential for stock price recovery in the third quarter [1] - The current market conditions suggest that the stock prices have already confirmed a bottom ahead of the industry chain price bottom, presenting an opportunity for investment in integrated components, high-efficiency batteries, and other related materials [1]

Core Viewpoint - The solid-state battery sector is experiencing significant growth, with multiple companies seeing substantial stock price increases and upcoming industry conferences indicating a shift towards commercialization and technological advancements in solid-state battery technology [1][3]. Group 1: Stock Performance - Daxin Technology has achieved three consecutive trading limits, with a latest price of 24.88 and a rise of 9.99%, resulting in a market capitalization of 57.64 billion [2]. - Yinglian Co. has seen two consecutive trading limits, with a latest price of 20.15 and a rise of 9.99%, leading to a market capitalization of 51.79 billion [2]. - Lushan New Materials reached a trading limit with a latest price of 23.28 and an increase of 10.02%, with a market capitalization of 33.98 billion [2]. Group 2: Industry Events - Several key industry conferences are scheduled, including the 7th High-Energy Solid-State Battery Key Materials Technology Conference on September 23-24, and the 6th China Solid-State Battery Technology Conference on September 24-25 [3]. - A seminar on solid-state battery technology innovation and industrialization will take place from October 22-24, 2025 [3]. Group 3: Technological Developments - Funeng Technology has completed the sample delivery of its first-generation sulfide all-solid-state battery and has developed the second generation, achieving an energy density of 500 Wh/kg [3]. - Leading Intelligent disclosed a net profit of approximately 740 million, a year-on-year increase of 61.19%, with a projected gross margin of 45%-50% for solid-state equipment orders expected to account for 30% by 2025 [3]. Group 4: Market Outlook - The solid-state battery technology is expected to see breakthroughs, with several automakers planning to adopt all-solid-state batteries around 2027, accelerating the industrialization process [5]. - The demand for solid-state electrolytes is projected to reach 210,000 tons, corresponding to a market space exceeding 21 billion, with lithium demand expected to surge significantly post-2027 [5][6]. - By 2030, the shipment of solid-state batteries is anticipated to exceed 600 GWh, with a market scale surpassing 250 billion [6].

格隆汇9月1日丨鹿山新材(603051.SH)在投资者互动平台表示，公司推出的专为折叠屏设备研发的 AMOLED柔性OCA光学胶膜，在水滴型铰链应用场景下，当动态弯折曲率半径处于1.5-3mm时，常温 环境下耐弯折次数突破20万次；在高湿热（60℃/90%RH）或低温（-40℃）极端环境中，仍能承受超5 万次弯折测试，充分展现了产品优异的柔韧性、耐久性及环境适应性。 ...

格隆汇9月1日丨鹿山新材(603051.SH)在投资者互动平台表示，公司目前暂未直接与苹果建立业务合 作，我们会继续努力加大在国内外优秀企业中的推广力度。 ...

Core Viewpoint - The company has achieved mass production and shipment of OCA optical adhesive films and silicon-carbon negative electrode functional materials, which are expected to expand applications in humanoid robot visual display modules and battery modules [1] Group 1: Product Development - The company has 27 years of experience in high-performance functional materials, which supports its technological advantages in precision coating and polymer material modification [1] - The company is integrating resources to quickly enter the fields of humanoid robot electronic skin, electronic muscles, and simulated skin (using materials such as TPE and silicone) [1] Group 2: Future Prospects - The company aims to accelerate the industrialization process of related products in the humanoid robot sector [1]

Core Viewpoint - Lushan New Materials (603051) reported a cautious operational strategy in its solar cell packaging film business, focusing on optimizing pricing and customer structure to mitigate the impact of industry fluctuations on profitability [1] Financial Performance - In the first half of 2025, the company achieved operating revenue of 741 million yuan and a net profit attributable to shareholders of 15.9361 million yuan [1] - The polyolefin functional materials segment, which constitutes 58.53% of total revenue, saw a shipment volume of 35,200 tons, representing a year-on-year increase of 22.67%, and generated revenue of 434 million yuan, up 16.67% year-on-year [1] Strategic Development - The company continues to implement its "one main, two supports" development strategy, focusing on new products and projects as key growth drivers [1] - New products such as OCA optical adhesive films, solid-state lithium batteries, silicon-carbon anode materials for lithium batteries, and aluminum-plastic composite adhesive materials are progressing well in market development and are expected to become new performance growth points in the future [1] Industry Expansion - With the rapid development of humanoid robot materials, the company plans to leverage its technical advantages in precision coating and polymer material modification to enter the fields of electronic skin, electronic muscles, and simulated skin [2] - The company aims to expand its product offerings into diverse applications such as smart wearables and medical rehabilitation [2]

本次财报公布的各项数据指标表现不尽如人意。其中，毛利率11.66%，同比增0.16%，净利率2.15%， 同比减22.68%，销售费用、管理费用、财务费用总计6383.08万元，三费占营收比8.61%，同比增 35.05%，每股净资产14.8元，同比增9.58%，每股经营性现金流0.39元，同比减51.74%，每股收益0.15 元，同比减55.88% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 11.11亿 | 7.41亿 | -33.27% | | 归母净利润（元） | 3088.47万 | 1593.61万 | -48.40% | | 扣非净利润(元) | 2140.59万 | 180.42万 | -91.57% | | 货币资金(元) | 3.04亿 | 4.1亿 | 34.91% | | 应收账款(元) | 7.72亿 | 4.49 Z | -41.77% | | 有息负债(元) | 9.65亿 | 5.48亿 | -43.25% | | 手利率 | 11.64% | 11.66% | 0.16% | ...

Core Viewpoint - The company is actively advancing its "one main and two branches" development strategy, focusing on emerging sectors such as optical adhesive films, new energy materials, and humanoid robot electronic skin, to inject new momentum into future growth [1] Group 1: Business Strategy and Market Opportunities - The company anticipates explosive growth opportunities in the humanoid robot industry over the next 3-5 years, driven by accelerated industry development [1] - To seize this market opportunity, the company plans to leverage its 27 years of experience in high-performance functional materials and its technological advantages in precision coating and polymer material modification [1] - The company aims to integrate resources to quickly enter the humanoid robot electronic skin, electronic muscle, and simulated skin (TPE, silicone, etc.) sectors, accelerating the industrialization process of related products [1] Group 2: Financial Performance - In the first half of the year, the company achieved operating revenue of 741 million yuan, with a net profit attributable to shareholders of 15.93 million yuan [1] - The core polyethylene functional materials business segment reported a shipment volume of 35,200 tons, representing a year-on-year increase of 22.67% [1] - This segment generated operating revenue of 434 million yuan, a year-on-year growth of 16.67%, accounting for 58.53% of the company's total revenue, thus becoming a crucial pillar for stable performance [1]

Group 1 - The company reported a revenue of 741,086,146.06 yuan for the first half of 2025, representing a year-on-year decrease of 33.27% [1] - The net profit attributable to shareholders of the listed company was 15,936,075.69 yuan, showing a year-on-year decline of 48.40% [1]

Group 1 - The core point of the article is that Lushan New Materials announced the approval of multiple proposals during the second meeting of its sixth board of directors held on August 29 [2]