Core Viewpoint - The A-share market is experiencing a phase of intensive disclosure of semi-annual reports, with companies that exceed expectations receiving significant attention from the market, indicating a positive influx of capital despite a complex economic environment [1] Group 1: Performance Highlights - A total of 59 stocks have been recognized by brokerage institutions for exceeding performance expectations, including major companies such as CATL, Industrial Fulian, Zijin Mining, Muyuan Foods, and WuXi AppTec [3] - The electric equipment industry stands out with 8 stocks making the list of exceeding expectations, reflecting a high overall industry prosperity [4] - 18 stocks reported a net profit growth of over 100% in the first half of the year, with Zhimin Da achieving a remarkable net profit growth of 21.48 times, driven by significant order growth in embedded modules and strong performance in missile and AI products [4] Group 2: Market Trends - The 59 stocks that exceeded expectations have seen an average increase of 37.45% year-to-date, significantly outperforming the Shanghai Composite Index [5] - Six stocks have doubled in value, including Shijia Photon, Jieput, Xinyi Sheng, Zhenyu Technology, Zhimin Da, and Craft Home [5] - Financing funds have shown strong interest in stocks with exceeding performance, with 18 such stocks seeing a net buy-in of over 100 million yuan since July, led by Xinyi Sheng with a net buy-in of 3.406 billion yuan [5] Group 3: Industry Leaders - Industry leaders such as WuXi AppTec, CATL, Zijin Mining, and Zhongji Xuchuang have also seen significant increases in financing, reinforcing their investment value due to their technological advantages and market positions [5] - Suotong Development is expected to report a net profit of 450 million to 540 million yuan in the first half of 2025, representing a year-on-year growth of 13.35 to 16.22 times, benefiting from rising pre-baked anode prices and strong market demand [5]

Core Insights - The chairman of Suotong Development Co., Ltd., Lang Guanghui, discussed the importance of prebaked anodes in aluminum electrolysis and the company's commitment to green manufacturing practices [1][2]. Group 1: Industry Transformation - The traditional production of carbon anodes has been associated with significant pollution, including dust, waste gas, and noise, prompting a need for modernization [1]. - The company is focusing on digitalization, intelligence, and green transformation in response to challenges such as raw material volatility and high energy consumption [1][2]. Group 2: Technological Innovation - Suotong Development has implemented an AI-based neuron ratio algorithm to enhance product quality while significantly reducing the consumption of anodes per ton of aluminum, achieving optimal cost efficiency [2]. - The company has achieved a breakthrough in production efficiency, with per capita annual output exceeding 1,000 tons through the use of waste heat recovery technology and intelligent production lines [2]. Group 3: Business Model Evolution - The company has adopted a joint venture model with clients to customize production parameters for downstream aluminum electrolysis enterprises, resulting in a higher anode yield [2]. - This model has led to the establishment of nine production bases and has become a core engine for the company's international expansion [2]. Group 4: International Expansion Strategy - The company views international expansion as a necessary strategy rather than blind growth, driven by rising production costs and environmental changes [2][3]. - Lang Guanghui has identified three strategic regions for expansion: the Middle East for its petroleum coke resources, Southeast Asia for supply chain integration, and Africa for market growth [2]. Group 5: Risk Management and Corporate Philosophy - The company has established a dual defense mechanism to address potential risks, promoting a culture of continuous small-scale innovations and implementing lean management practices [3]. - The corporate philosophy emphasizes sincerity and accountability, with a focus on maintaining strong relationships and fulfilling commitments [3].

Market Overview - On August 1, the non-metal materials sector rose by 0.76% compared to the previous trading day, with Suotong Development leading the gains [1] - The Shanghai Composite Index closed at 3559.95, down 0.37%, while the Shenzhen Component Index closed at 10991.32, down 0.17% [1] Stock Performance - Suotong Development (603612) closed at 24.00, up 5.59% with a trading volume of 457,200 shares and a transaction value of 1.074 billion yuan [1] - Other notable performers included: - Dongfang Carbon (832175) at 13.29, up 3.91% [1] - Quartz Shares (603688) at 36.00, up 2.97% [1] - Tianma New Materials (838971) at 35.27, up 2.80% [1] - Bingyang Technology (836675) at 12.65, up 1.85% [1] Capital Flow - The non-metal materials sector saw a net inflow of 73.85 million yuan from institutional investors, while retail investors experienced a net outflow of 64.60 million yuan [2] - The overall capital flow indicates a mixed sentiment within the sector, with institutional buying contrasting with retail selling [2]

Market Overview - The non-metal materials sector experienced a decline of 1.52% on July 31, with Tianma New Materials leading the drop [1] - The Shanghai Composite Index closed at 3573.21, down 1.18%, while the Shenzhen Component Index closed at 11009.77, down 1.73% [1] Stock Performance - Tianma New Materials (code: 838971) closed at 34.31, down 4.30% with a trading volume of 36,400 shares and a transaction value of 128 million [2] - Other notable declines included: - Lianrui New Materials (code: 688300) down 4.06% to 58.20 with a trading volume of 101,000 shares and a transaction value of 599 million [2] - Bingyang Technology (code: 836675) down 3.35% to 12.42 with a trading volume of 16,300 shares and a transaction value of 2.06 million [2] - The only stock with a positive performance was Quartz Co. (code: 603688), which rose by 0.52% to 34.96 [1] Capital Flow - The non-metal materials sector saw a net inflow of 14.76 million from institutional investors, while retail investors experienced a net outflow of 23.18 million [2][3] - Key stocks with significant capital flow include: - Suotong Development (code: 603612) with a net inflow of 61.96 million from institutional investors [3] - Quartz Co. (code: 603688) with a net inflow of 15.38 million from institutional investors [3] - Lianrui New Materials (code: 688300) faced a net outflow of 45.14 million from institutional investors [3]

通过天眼查大数据分析，索通发展股份有限公司共对外投资了30家企业，参与招投标项目568次，知识 产权方面有商标信息2条，专利信息203条，此外企业还拥有行政许可17个。 来源：金融界 金融界消息 截至2025年7月31日收盘，索通发展（603612）报收于22.73元，下跌0.83%，换手率 7.73%，成交量38.49万手，成交金额8.80亿元。 资金流向方面，今日主力资金净流入6195.71万元，占比成交额7.04%。其中，超大单净流入2142.25万 元、占成交额2.43%，大单净流入4053.45万元、占成交额4.6%，中单净流出流出465.44万元、占成交额 0.53%，小单净流出5730.26万元、占成交额6.51%。 索通发展最新一期业绩显示，截至2025一季报，公司营业总收入37.42亿元、同比增长20.50%，归属净 利润2.44亿元，同比增长675.67%，扣非净利润2.39亿元，同比增长279.05%，流动比率1.361、速动比率 0.856、资产负债率64.15%。 天眼查商业履历信息显示，索通发展股份有限公司，成立于2003年，位于德州市，是一家以从事电力、 热力生产和供应业为主的企 ...

数据来源：天眼查APP 证券之星消息，根据天眼查APP数据整理，近日，衡水索通供应链有限公司成立，法定代表人为黄河， 注册资本50万元，经营范围包含：一般项目：石油制品销售(不含危险化学品);煤炭及制品销售;石墨及 碳素制品销售;专用化学产品销售(不含危险化学品);金属材料销售;有色金属合金销售;五金产品批发;五 金产品零售;建筑装饰材料销售;计算机软硬件及辅助设备批发;计算机软硬件及辅助设备零售;服装服饰 零售;体育用品及器材零售(除依法须经批准的项目外，自主开展法律法规未禁止、未限制的经营活动)。 天眼查APP股权穿透显示，该公司由索通发展全资持股。 ...

Core Viewpoint - The company has provided guarantees for its wholly-owned and controlled subsidiaries to support their financing needs, ensuring their stable business development and aligning with the company's overall interests and strategic goals [4][14][15]. Summary by Sections Guarantee Overview - In July 2025, the company provided guarantees for its subsidiaries: 282 million RMB for Linyi International Trade Co., Ltd., 100 million RMB for Longxi Carbon Materials Co., Ltd., and 100 million RMB for Hubei Carbon Materials Co., Ltd. [1][4] - The total guarantee amount approved by the company's board is capped at 12 billion RMB, which can be reused within the validity period of the shareholders' resolution [4][5]. Financial Data and Risk - As of the announcement date, the actual guarantee balances for the subsidiaries are 189 million RMB (excluding this guarantee) for Linyi, 713.91 million RMB (including this guarantee) for Longxi, and 391.5 million RMB (excluding this guarantee) for Hubei [1][5]. - The total external guarantees amount to 1,837.78 million RMB, which is 355.42% of the company's audited net assets for 2024, while the actual guarantee balance is 776.78 million RMB, representing 150.23% of the same [3][16]. Subsidiary Information - Linyi International Trade Co., Ltd. is a wholly-owned subsidiary with a registered capital of 100 million RMB, established in 2005, and has no significant issues affecting its debt repayment ability [6][7]. - Longxi Carbon Materials Co., Ltd. is a controlled subsidiary with a registered capital of 280 million RMB, established in 2021, and also has no significant issues affecting its debt repayment ability [8][9]. - Hubei Carbon Materials Co., Ltd. is another controlled subsidiary with a registered capital of 420 million RMB, established in 2022, and similarly has no significant issues affecting its debt repayment ability [9]. Guarantee Agreements - The guarantees provided include a contract with Ping An Bank for 282 million RMB, a contract with China Export-Import Bank for 100 million RMB, and a contract with Industrial Bank for 100 million RMB, all structured as joint liability guarantees [10][12][13]. Necessity and Reasonableness of Guarantees - The guarantees are deemed necessary to meet the production and operational needs of the subsidiaries, ensuring their ongoing and stable development, and are within the company's control [14][15].

证券代码：603612 证券简称：索通发展 公告编号：2025-036 索通发展股份有限公司 关于 2025 年 7 月份提供担保的公告 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法律责任。 重要内容提示： 被担保人名称：临邑索通国际工贸有限公司（以下简称"临邑工贸"）、 陇西索通炭材料有限公司（以下简称"陇西索通"）、湖北索通炭材料有限公司 （以下简称"湖北索通"），以上公司均为索通发展股份有限公司（以下简称"公 司"）的全资/控股子公司。 本次担保金额及已实际为其提供的担保余额：本次公司为临邑工贸、陇 西索通、湖北索通提供的担保金额分别为人民币 28,200 万元、人民币 10,000 万 元、人民币 10,000 万元。截至本公告披露日，公司及子公司已实际为上述公司 提供的担保余额分别为人民币 18,900.00 万元（不含本次）、人民币 71,391.06 万元（含本次）、人民币 39,150.00 万元（不含本次）。 特别风险提示：截至本公告披露日，公司已批准的担保额度内尚未使用 额度与担保实际发生余额之和为 1,837, ...

Market Overview - On July 30, the non-metal materials sector rose by 0.54% compared to the previous trading day, with Longgao Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3615.72, up 0.17%, while the Shenzhen Component Index closed at 11203.03, down 0.77% [1] Stock Performance - Longgao Co., Ltd. (605086) closed at 29.01, up 4.24% with a trading volume of 60,600 shares and a turnover of 173 million yuan [1] - Suotong Development (603612) closed at 22.92, up 3.62% with a trading volume of 470,400 shares and a turnover of 1.065 billion yuan [1] - Tianma New Materials (838971) closed at 35.85, up 2.19% with a trading volume of 39,300 shares and a turnover of 140 million yuan [1] - Lianrui New Materials (688300) closed at 60.66, up 1.78% with a trading volume of 71,700 shares and a turnover of 430 million yuan [1] - Other notable stocks included: - Bingyang Technology (836675) down 0.08% - Qilu Huaxin (830832) down 0.11% - Changjiang Materials (001296) down 0.40% - Kuncai Technology (603826) down 0.50% - Dongfang Huizhen (832175) down 0.61% - Lili Diamond (301071) down 1.55% [1] Capital Flow - The non-metal materials sector saw a net inflow of 7.1304 million yuan from institutional investors, while retail investors had a net inflow of 14.4226 million yuan [2] - However, speculative funds experienced a net outflow of 21.553 million yuan [2] Individual Stock Capital Flow - Suotong Development (603612) had a net inflow of 56.3831 million yuan from institutional investors, but a net outflow of 79.8045 million yuan from retail investors [3] - Lianrui New Materials (688300) saw a net inflow of 10.9452 million yuan from institutional investors, with a net outflow of 33.3751 million yuan from speculative funds and a net inflow of 22.4299 million yuan from retail investors [3] - Longgao Co., Ltd. (605086) had a net inflow of 6.2057 million yuan from institutional investors, while retail investors contributed a net inflow of 130.85 thousand yuan [3] - Other stocks like Kuncai Technology (603826) and Lili Diamond (301071) experienced significant net outflows from institutional and speculative funds [3]

Group 1 - The core viewpoint of the news is that Su Tong Development (603612) has shown significant financial growth, with a notable increase in both revenue and net profit in the latest quarterly report [1] - As of July 29, 2025, the company's stock price closed at 22.12 yuan, reflecting a 5.13% increase, with a trading volume of 495,200 hands and a transaction amount of 1.083 billion yuan [1] - The company experienced a net inflow of 132 million yuan in main funds, accounting for 12.16% of the transaction amount, with large orders contributing significantly to this inflow [1] Group 2 - For the first quarter of 2025, Su Tong Development reported total operating revenue of 3.742 billion yuan, representing a year-on-year growth of 20.50%, and a net profit attributable to shareholders of 244 million yuan, which is a remarkable increase of 675.67% [1] - The company has a current ratio of 1.361, a quick ratio of 0.856, and a debt-to-asset ratio of 64.15%, indicating its financial health and liquidity position [1] - Su Tong Development, established in 2003 and located in Dezhou, primarily engages in the production and supply of electricity and heat [1][2]