Investment Rating - The report maintains an investment rating of "in line with the market" for the basic chemical industry [7][5]. Core Viewpoints - The basic chemical industry index rose by 4.51% in July 2025, outperforming the Shanghai Composite Index and the CSI 300 Index by 0.77 and 0.96 percentage points, respectively [10][7]. - The report suggests continued focus on the pesticide, organic silicon, and polyester filament sectors, which are expected to benefit from the anti-involution policies [5][7]. Summary by Sections Market Review - The basic chemical industry index has increased by 41.50% over the past year, ranking 14th among 30 major industries [10][7]. - In July 2025, 26 out of 33 sub-industries saw an increase, with modified plastics, polyurethane, and civil explosives leading the gains at 16.69%, 14.01%, and 12.09%, respectively [11][10]. Product Price Tracking - The report indicates a continued downward trend in chemical product prices, with 177 products showing a decrease in July 2025 [7][11]. - Notable price increases were observed in TDI, trichloromethane, and coking coal, with respective rises of 43.29%, 32.79%, and 32.56% [7][11]. Industry and Company News - The report highlights the launch of a three-year action plan by the China Pesticide Industry Association to combat issues like hidden additives and illegal production in the pesticide sector [29][30]. - A significant investment of 2.32 billion yuan by Shandong Haihua in Inner Mongolia's largest natural soda ash mine is noted, aimed at optimizing product structure and expanding development space [34][35].

证券代码： 603256 证券简称：宏和科技 公告编号：2025-052 宏和电子材料科技股份有限公司 股票交易异常波动公告 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： 宏和电子材料科技股份有限公司（以下简称"公司"）股票于 2025 年 8 月 12 日、2025 年 8 月 13 日、2025 年 8 月 14 日连续 3 个交易日，收盘价格涨幅 偏离值累计超过 20%，根据《上海证券交易所交易规则》的有关规定，属于股票 交易价格异常波动的情形。 经公司自查，并书面征询控股股东和实际控制人，截止本公告披露日， 确认不存在应披露而未披露的重大信息。 公司在股票交易异常波动期间未涉及市场热点概念，请广大投资者理性 投资，注意二级市场交易风险。 一、股票交易异常波动的具体情况 公司股票于 2025 年 8 月 12 日、2025 年 8 月 13 日、2025 年 8 月 14 日连续 3 个交易日，收盘价格涨幅偏离值累计超过 20%，根据《上海证券交易所交易规 则》的有关规定，属于股票交易价格异常波动 ...

关于《宏和电子材料科技股份有限公司股票交易异常波动问询函》的回复 宏和电子材料科技股份有限公司： 本人已收到《宏和电子材料科技股份有限公司股票交易异常波动问询函》， 经认真核实，现就有关事项回复如下： 本人作为宏和电子材料科技股份有限公司（以下简称"上市公司"）的实际 控制人，截止目前，不存在与上市公司相关的应披露而未披露的重大信息，包括 但不限于与上市公司相关的并购重组、股份发行、债务重组、资产剥离和资产注 入等重大事项。 特此回复。 （以下无正文） （本页无正文，为《关于﹤宏和电子材料科技股份有限公司股票交易异常波动问 询函﹥的回复》之签字页） 实际控制人:王文洋 2025 年 8 月 14 日 关于《宏和电子材料科技股份有限公司股票交易异常波动问询函》的回复 宏和电子材料科技股份有限公司： 本人已收到《宏和电子材料科技股份有限公司股票交易异常波动问询函》， 经认真核实，现就有关事项回复如下： 本人作为宏和电子材料科技股份有限公司（以下简称"上市公司"）的实际 控制人，截止目前，不存在与上市公司相关的应披露而未披露的重大信息，包括 但不限于与上市公司相关的并购重组、股份发行、债务重组、资产剥离和资产注 入 ...

Investment Rating - Industry Rating: Outperform the market (maintained rating) [4] Core Viewpoints - The cement and explosives sector is expected to benefit from key projects such as the New Tibet Railway, with a continuous positive outlook on the fundamentals of high-end electronic fabrics, which are seeing both volume and price increases [2][15] - Recent data shows that the sales area of commercial housing in 30 major cities was 1.2645 million square meters, down 13.04% year-on-year, indicating a decline in real estate demand [15] - The establishment of the New Tibet Railway Company with a registered capital of 95 billion yuan is anticipated to benefit local cement and explosives companies [15] - Current cement prices in many regions have reached or fallen below cost lines, and with rising coal prices, companies are facing increased profit pressures [2][18] - If industry self-discipline measures are effectively implemented, cement prices are expected to begin a recovery trend [2][18] Summary by Sections Market Review - During the week of August 4 to August 10, 2025, the Shanghai and Shenzhen 300 index rose by 1.2%, while the construction materials sector (CITIC) increased by 2.1%, with ceramics and cement sectors performing particularly well [12][18] - Notable stock performances included Zhenan Technology (+19.8%), ST Sansheng (+16.3%), and Tianshan Shares (+10.9%) [12] Key Sub-industry Tracking - Cement: The national cement market price remained stable, with slight adjustments in specific regions. The average shipment rate for major regions was around 44% [18] - Glass: The photovoltaic glass market showed slight price increases, with the main order prices for 2.0mm coated panels rising by 2.38% [18] - Fiberglass: The market for non-alkali yarns remained weak, with average prices declining by 2.06% compared to the previous week [19] Recommended Stocks - The report recommends focusing on companies such as Qingsong Jianhua, Gaozheng Minbao, Xibu Cement, Huaxin Cement, Honghe Technology, and Zhongcai Technology, indicating a favorable outlook for these stocks in the current market environment [20]

Investment Rating - The investment rating for the construction materials industry is "Positive" (maintained) [4] Core Views - The report highlights the initiation of the Xinjiang-Tibet Railway project, which is expected to benefit leading cement companies in Xinjiang due to their established supply capabilities [5] - The demand for high-end electronic fabrics is anticipated to grow significantly, driven by advancements in AI and hardware performance requirements, with a particular focus on Low-DK and Low-CTE electronic fabrics [5] - The report suggests that 2025 will be a turning point for listed companies, while 2026 will mark an industry turning point, indicating a potential recovery in the sector [5] Section Summaries 1. Sector Tracking - The construction materials index rose by 1.2%, with cement and decoration materials showing positive trends, while glass fiber declined [9] - Notable stock performances included Tianshan Cement (+10.9%) and Guotong Shares (+10.6%), while Han Jian Heshan (-13.3%) and Xizang Tianlu (-10.1%) faced declines [9] 2. Data Tracking 2.1 Cement - The average price of 42.5 cement nationwide is 339.7 RMB/ton, unchanged month-on-month but down 42.5 RMB/ton year-on-year [17] - The cement inventory ratio is 67.4%, showing a slight increase [17] - The cement shipment rate is 43.7%, reflecting a decrease compared to previous periods [17] 2.2 Float Glass - The average price of 5mm float glass is 1327.0 RMB/ton, down 31.4 RMB/ton month-on-month and 219.0 RMB/ton year-on-year [37] - Inventory levels for major producers decreased by 2.9% [37] 2.3 Photovoltaic Glass - The average price for 2.0mm coated photovoltaic glass is 10.9 RMB/sqm, with a slight increase month-on-month [42] - The production capacity for photovoltaic glass remains stable, but year-on-year production has decreased by 16.7% [42] 2.4 Glass Fiber - The average price for alkali-free glass fiber yarn is 4585.0 RMB/ton, unchanged month-on-month but down 45.0 RMB/ton year-on-year [49] 2.5 Carbon Fiber - The average price for large tow carbon fiber is 72.5 RMB/kg, with a year-on-year decrease of 5.0 RMB/kg [52] - The average operating rate for carbon fiber companies is 61.49%, showing an increase compared to previous periods [52] 3. Industry Dynamics - Recent policy changes in Beijing aim to optimize housing purchase conditions, potentially stimulating demand in the construction materials sector [16] - The report notes a decline in the supply of new residential properties in major cities, indicating a tightening market [16]

Core Viewpoint - The stock price of Honghe Technology has decreased by 3% to 25.89 yuan as of August 7, 2025, indicating a downward trend in the market [1] Company Overview - Honghe Technology specializes in the research and production of glass fiber materials, which are widely used in electronics and construction sectors [1] - The company is registered in Shanghai and falls under the category of specialized and innovative enterprises [1] Stock Performance - On August 7, 2025, the opening price was 26.06 yuan, with a highest price of 28.07 yuan and a lowest price of 25.66 yuan [1] - The trading volume reached 544,997 hands, with a total transaction amount of 1.472 billion yuan [1] Capital Flow - On August 7, 2025, the net outflow of main funds for Honghe Technology was 67.899 million yuan, accounting for 0.3% of the circulating market value [1] - Over the past five trading days, there has been a cumulative net inflow of 8.8122 million yuan, representing 0.04% of the circulating market value [1]

中材科技 20250807 摘要 NOCT 订单增长超预期，叠加马久材料明确及正交背板需求超预期，共 同驱动电子布板块增长。正交背板对应 PCB 市场空间约 80 亿美元，电 子布价值量占比 8%-9%，Ruben Ultra 架构升级后占比可提升至 10% 以上，市场规模预计达 70 亿人民币。 Low DK 电子布需求预计从 2025 年的 0.9 亿米增长到 2027 年的 2.3 亿米，复合增速显著。其中，q 布占比将从 2026 年的 9%增加到 2027 年的 20%-25%，产生约 5,000 万米需求，国内企业有望占据大部分市 场份额。 Low CTE 纤维布通过降低热膨胀系数减少芯片变形，在芯片散热难度大 的背景下尤为重要。华为 AI 服务器采用堆叠工艺导致散热问题，开始使 用 low CTE 电子布，需求增长超预期。先进封装技术如 COWAS 和 COAP 也将显著提升 low CTE 材料用量。 全球 low CTE 纤维布主要供应商包括日东纺、太山波纤和红河科技，中 材科技和宏和科技也在积极扩产。Low CTE 材料生产工艺壁垒较高，包 括拉丝和表面处理等，导致行业供给相对紧张。 正交 ...

证券代码：603256 证券简称：宏和科技 公告编号：2025-051 宏和电子材料科技股份有限公司 关于实际控制人续签《一致行动人协议》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。 宏和电子材料科技股份有限公司（以下简称"公司"）近日收到实际控制人 王文洋先生、Grace Tsu Han Wong女士的通知，为维护公司控制权稳定、保障公 司持续稳定发展，提高公司经营决策效率，双方于2025年8月6日续签了《一致行 动人协议》（以下简称"本协议"），具体情况如下： 一、本次续签《一致行动人协议》的基本情况 公司实际控制人王文洋先生、Grace Tsu Han Wong女士于2018年11月14日签 署了《一致行动人协议》，有效期自双方正式签署之日起至2025年12月31日止。 上述《一致行动人协议》将于2025年12月31日到期，为维护公司控制权稳定、保 障公司持续稳定发展，提高公司经营决策效率，王文洋先生、Grace Tsu Han Wong 女士于2025年8月6日完成了《一致行动人协议》的续签，本次续签自 ...

| 日期 | 当日涨跌幅（%） | 换手率（%） | 主力资金净流入（万元） | | --- | --- | --- | --- | | 2025.08.05 | -10.01 | 5.37 | -6473.16 | | 2025.08.04 | 4.13 | 6.38 | -7846.23 | | 2025.08.01 | 9.98 | 2.80 | 6438.95 | | 2025.07.31 | 10.00 | 6.29 | 30676.05 | | 2025.07.30 | -7.80 | 4.07 | -4608.16 | | 2025.07.29 | -0.51 | 4.48 | -1880.80 | | 2025.07.28 | 10.00 | 5.55 | 15385.82 | | 2025.07.25 | -0.42 | 2.44 | -2221.51 | | 2025.07.24 | 2.55 | 3.64 | 1229.07 | | 2025.07.23 | -4.46 | 2.62 | -4880.96 | （文章来源：证券时报网） 龙虎榜数据显示，该股因连续三个交易日内，涨幅偏离值累 ...

Group 1 - A-shares experienced significant activity on August 6, with 77 stocks hitting the daily limit up and 3 stocks hitting the limit down [1] - The China Shipbuilding sector was notably active, with China Shipbuilding and China Heavy Industry reaching the limit up [1] - The PEEK materials sector showed strength, with Zhongxin Fluorine Materials and Xinhan New Materials achieving consecutive limit up days, while Kaisheng New Materials and Huami New Materials also hit the limit up [1] - The Intelligent Robotics sector saw gains, with Haosen Intelligent reaching the limit up [1] Group 2 - Continuous limit up stocks included Zhongma Transmission with 5 limit up days in 6 trading sessions, Beijia Clean with 5 consecutive limit up days, and Honghe Technology with 4 limit up days in 8 sessions [1] - Other notable continuous limit up stocks included Changcheng Military Industry with 4 limit up days in 5 sessions, and several stocks like *ST Yushun and *ST Dongjing achieving 4 consecutive limit up days [1] - Stocks such as Guoji Precision Engineering and Furi Electronics also recorded 3 consecutive limit up days [1] Group 3 - Stocks that hit the limit down included *ST Yatai, Xining Special Steel, and Tibet Tianlu [2]