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]

Summary of Conference Call on Zhongcai Technology and the Electronic Fabric Industry Company and Industry Overview - The conference call focused on Zhongcai Technology and the electronic fabric industry, particularly the demand for low dielectric constant (low DK) and low coefficient of thermal expansion (low CTE) materials [2][3][5]. Key Points and Arguments 1. **Order Growth and Market Dynamics** - NOCT orders have exceeded expectations, driving growth in the electronic fabric sector alongside increased demand for high-performance materials and orthogonal backplanes [2][3]. - The orthogonal backplane corresponds to a PCB market space of approximately $8 billion, with electronic fabric contributing 8%-9% of its value [2][7]. 2. **Market Projections for Low DK and Low CTE Materials** - Low DK electronic fabric demand is projected to grow from 90 million meters in 2025 to 230 million meters by 2027, with a significant compound annual growth rate [2][8]. - Low CTE fiber fabric is crucial for reducing chip deformation, especially in high-heat environments, with demand driven by companies like Huawei adopting advanced packaging techniques [2][11]. 3. **Supply Chain and Production Capacity** - Zhongcai Technology plans to reach an annual production capacity of 35 million meters by the end of 2026, while Honghe Technology aims for 20 million meters [4][17]. - The global supply landscape shows that overseas companies hold 50% of the market, with Zhongcai being the largest supplier at 20% [4][23]. 4. **Technological Advancements and Production Challenges** - The introduction of COROP technology has significantly increased the application space for low CTE materials [3]. - Production of low CTE materials faces high barriers, including drawing and surface treatment processes, leading to a relatively tight supply [12][16]. 5. **Future Market Potential** - The low CTE market is expected to reach a scale of 30 billion RMB by 2027, with domestic companies likely to capture a significant share of the profits [15]. - The market for low DK materials could expand to 20 billion RMB by 2027, driven by high-end product demand [9]. 6. **Competitive Landscape** - Zhongcai and Honghe are well-positioned to meet market uncertainties due to their comprehensive product structures [4][22]. - The competition is expected to intensify as companies like Feilihua and Linzhou Guangyuan also expand their production capacities [19][30]. Other Important Insights - The demand for low CTE materials is not only driven by AI applications but also by advanced packaging technologies used in high-end devices like Apple's M series chips [11]. - The electronic fabric industry is currently in a tight balance, with supply gaps expected to persist into 2025 despite rapid capacity expansions [23]. - The transition from traditional to advanced packaging techniques is anticipated to enhance the usage of low CTE materials significantly [13][14]. This summary encapsulates the critical insights from the conference call, highlighting the growth potential and competitive dynamics within the electronic fabric industry, particularly focusing on low DK and low CTE materials.

Group 1 - The core point of the announcement is the renewal of the "Joint Action Agreement" between the actual controllers of the company, Wang Wenyang and Grace Tsu Han Wong, to maintain control stability and improve decision-making efficiency [1][3] - The original agreement was signed on November 14, 2018, and was set to expire on December 31, 2025. The renewed agreement is effective from August 6, 2025, and will last until December 31, 2030 [1][2] - The agreement stipulates that both parties will act in unison regarding major corporate governance and decision-making matters, ensuring continued joint control over the company [2][3] Group 2 - The renewal of the agreement does not change the actual control of the company, which remains with Wang Wenyang and Grace Tsu Han Wong, and the controlling shareholder is still Yuanyi International Limited [3] - The agreement includes provisions that prevent either party from transferring shares to third parties without written consent from the other party, except for legal reductions [2] - The renewal is expected to enhance decision-making efficiency and maintain consistency in major corporate decisions, benefiting the company and its shareholders [3]

Market Overview - The Shanghai Composite Index rose by 0.45% on August 6, with 24 industries experiencing gains, led by defense and military industry at 3.07% and machinery equipment at 1.98% [1] - The pharmaceutical and building materials sectors faced declines, with drops of 0.65% and 0.23% respectively [1] Capital Flow Analysis - The main capital outflow from the two markets totaled 9.652 billion yuan, with seven industries seeing net inflows [1] - The machinery equipment sector had the highest net inflow of 4.367 billion yuan, followed closely by the defense and military sector with 4.283 billion yuan [1] - The pharmaceutical industry experienced the largest net outflow of 9.049 billion yuan, followed by the telecommunications sector with 2.949 billion yuan [1] Building Materials Sector - The building materials industry declined by 0.23%, with a net capital outflow of 1.008 billion yuan [2] - Out of 71 stocks in this sector, 31 rose while 36 fell, with one stock hitting the daily limit up and another hitting the limit down [2] - The top net inflow stocks in the building materials sector included Honghe Technology with 128 million yuan, followed by Puren and Beixin Building Materials with 50.204 million yuan and 19.752 million yuan respectively [2] Notable Stocks in Building Materials - The stocks with the highest net outflow included Tibet Tianlu at -901.328 million yuan, China National Materials at -121.216 million yuan, and Hanjian Heshan at -28.539 million yuan [2][3] - The building materials sector's capital flow ranking highlighted significant movements, with Honghe Technology leading in net inflow and Tibet Tianlu leading in net outflow [4]

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 ...

格隆汇8月6日丨宏和科技(603256.SH)公布，近日收到实际控制人王文洋先生、GraceTsuHanWong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》。 ...

证券之星消息，8月6日玻璃玻纤板块较上一交易日上涨0.71%，宏和科技领涨。当日上证指数报收于 3633.99，上涨0.45%。深证成指报收于11177.78，上涨0.64%。玻璃玻纤板块个股涨跌见下表： 从资金流向上来看，当日玻璃玻纤板块主力资金净流出4245.56万元，游资资金净流出1.1亿元，散户资金 净流入1.53亿元。玻璃玻纤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 | | --- | --- | --- | --- | --- | --- | --- | --- | | 603256 宏和科技 | | 1.32 Z | 10.47% | -5476.44万 | -4.34% | -7731.53万 | -6.13% | | 300196 | 长海股份 | 975.74万 | 7.35% | 209.69万 | 1.58% | -1185.43万 | -8.93% | | 301526 国际复材 | | 845.57万 | 1.96% | -748.41万 | -1.74% | ...

| 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]

宏和科技(603256)今日跌停，全天换手率5.37%，成交额11.85亿元，振幅12.78%。龙虎榜数据显示，沪 股通净卖出2852.70万元，营业部席位合计净卖出5715.60万元。 上交所公开信息显示，当日该股因日跌幅偏离值达-10.97%上榜，沪股通净卖出2852.70万元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交3.29亿元，其中，买入成交额为1.22亿 元，卖出成交额为2.07亿元，合计净卖出8568.30万元。 具体来看，今日上榜的营业部中，沪股通为第一大买入营业部及第一大卖出营业部，买入金额为 6045.62万元，卖出金额为8898.32万元，合计净卖出2852.70万元。 近半年该股累计上榜龙虎榜6次，上榜次日股价平均涨2.44%，上榜后5日平均跌2.31%。 资金流向方面，今日该股主力资金净流出6473.16万元，其中，特大单净流出6430.04万元，大单资金净 流出43.12万元。近5日主力资金净流入1.82亿元。 4月29日公司发布的一季报数据显示，一季度公司共实现营业收入2.46亿元，同比增长29.52%，实现净 利润3087.32万元，同比增长482.59%。（数 ...