南财智讯11月14日电，彤程新材公告，公司近日收到一致行动人VirginHoldingsLimited的通知，获悉其 质押的公司股份已全部办理了股份解除质押业务，本次解除质押股份数量为40,000,000股，占其所持股 份比例的49.90%，占公司总股本比例的6.49%。本次解除质押后，VirginHoldingsLimited所持质押股份 已全部解除，控股股东及其一致行动人无质押股份。 ...

Market Overview - The rubber sector increased by 1.99% on November 13, with Kexin Innovation leading the gains [1] - The Shanghai Composite Index closed at 4029.5, up 0.73%, while the Shenzhen Component Index closed at 13476.52, up 1.78% [1] Key Stocks Performance - Kexin Innovation (300731) closed at 44.20, up 5.94% with a trading volume of 102,700 shares and a turnover of 448 million yuan [1] - Quancheng Co. (605183) closed at 20.72, up 5.55% with a trading volume of 68,900 shares and a turnover of 140 million yuan [1] - Heimao Co. (002068) closed at 10.45, up 4.81% with a trading volume of 376,800 shares and a turnover of 390 million yuan [1] - Other notable performers include Sanwei Equipment (920834) and Yuanxiang New Materials (301300), with increases of 4.13% and 3.89% respectively [1] Capital Flow Analysis - The rubber sector saw a net inflow of 4.0468 million yuan from main funds, while retail funds experienced a net inflow of 35.5246 million yuan [2][3] - Speculative funds had a net outflow of 39.5714 million yuan, indicating a shift in investment strategies among different types of investors [2][3] Individual Stock Capital Flow - Sanqiang Co. (002068) had a main fund net inflow of 28.2787 million yuan, while speculative funds saw a net outflow of 18.2234 million yuan [3] - Kexin Innovation (300731) experienced a main fund net inflow of 10.3333 million yuan, with a significant outflow from speculative funds [3] - Other stocks like Haida Co. (300320) and Lian Ke Technology (001207) also showed varying capital flows, reflecting investor sentiment [3]

Core Viewpoint - Tongcheng New Materials has shown a mixed performance in stock price and financial results, with a notable increase in revenue and profit year-on-year, while facing fluctuations in stock price over recent trading periods [1][2]. Financial Performance - As of September 30, 2025, Tongcheng New Materials reported a revenue of 2.523 billion yuan, representing a year-on-year growth of 4.06% [2]. - The net profit attributable to shareholders for the same period was 494 million yuan, reflecting a year-on-year increase of 12.65% [2]. - Cumulatively, the company has distributed 1.493 billion yuan in dividends since its A-share listing, with 847 million yuan distributed over the past three years [3]. Stock Market Activity - On November 13, the stock price of Tongcheng New Materials increased by 2.01%, reaching 39.15 yuan per share, with a trading volume of 183 million yuan and a turnover rate of 0.79% [1]. - The company’s market capitalization stands at 23.449 billion yuan [1]. - Year-to-date, the stock price has risen by 13.57%, but it has seen a decline of 1.26% over the last five trading days and a 7.38% drop over the last 20 days [1]. Shareholder Structure - As of September 30, 2025, the number of shareholders increased to 60,200, up by 27.61%, while the average number of circulating shares per person decreased by 21.42% to 9,914 shares [2]. - Notable institutional shareholders include Penghua Zhongzheng Subdivision Chemical Industry Theme ETF and Southern Zhongzheng 500 ETF, with changes in their holdings noted [3].

Core Insights - The semiconductor photoresist industry is crucial for chip manufacturing, directly impacting chip resolution, yield, and cost, and is characterized by high technical barriers [1][2] - China is prioritizing the development of photoresists through multi-dimensional policy support, aiming for a market size of approximately $13.46 billion by 2024 [1][8] - Domestic companies are forming a multi-tiered industrial structure, with leading firms like Nanda Optoelectronics and Tongcheng New Materials achieving mass production and integration into supply chains [1][12] Industry Overview - Semiconductor photoresists, also known as photoresists, are materials that change solubility when exposed to radiation, playing a key role in accurately transferring circuit patterns onto wafers [2][3] - The market for semiconductor materials in China is projected to reach $13.46 billion in 2024, with a growth rate of approximately 2.85% [8][12] Policy Support - The Chinese government has established a comprehensive policy framework to support the semiconductor industry, including tax incentives and application demonstrations, to accelerate the development of photoresists [5][6] - Key policy documents include the "14th Five-Year Plan for the Development of Raw Materials Industry" and the "Action Plan for Stable Growth of Electronic Information Manufacturing Industry 2025-2026" [6][8] Industry Chain - The semiconductor photoresist industry chain in China is characterized by strong collaboration across upstream, midstream, and downstream sectors, with a clear path towards domestic production [6][8] - Domestic companies have achieved high self-sufficiency in mid-to-low-end raw materials, while high-end materials still require breakthroughs [6][10] Market Dynamics - The demand for high-end photoresists is increasing as chip manufacturing processes advance, with the market for photoresists expected to reach approximately 5.63 billion yuan in 2024 [12][14] - The domestic market is seeing a shift towards local alternatives, with KrF photoresists becoming the mainstay for mid-to-high-end applications and ArF photoresists achieving significant breakthroughs [12][14] Competitive Landscape - The global photoresist market is dominated by foreign giants, with Japanese and American companies holding about 87% of the market share [12][14] - Domestic companies are gradually increasing their market share in mature processes, with firms like Nanda Optoelectronics leading in ArF photoresists and Tongcheng New Materials dominating KrF photoresists [14][16] Future Trends - The semiconductor photoresist industry in China is expected to evolve along three main lines: technological breakthroughs, ecological collaboration, and competitive restructuring [15][16] - Future developments will focus on enhancing the performance of KrF and ArF photoresists, advancing EUV photoresist technology, and fostering vertical integration within the industry [15][16]

Core Points - The company announces the redemption and delisting of "Tongcheng Convertible Bonds" [1][4] - The redemption price is set at 101.44 CNY per bond, including accrued interest [2][8] - The last trading day for the bonds is November 10, 2025, and they will stop trading from November 11, 2025 [2][12] Redemption Details - Redemption registration date is November 13, 2025 [2][7] - The last conversion date for the bonds is also November 13, 2025 [3][12] - The company has triggered the conditional redemption clause due to the stock price being above 130% of the conversion price for 15 trading days [5][6] Financial Implications - The accrued interest calculation results in 1.44 CNY per bond, leading to a total redemption amount of 101.44 CNY [8][13] - Investors who do not convert their bonds by the deadline will face forced redemption at the specified price [4][15] - The market price of the bonds on the last trading day is significantly higher than the redemption price, indicating potential losses for investors who do not convert [15]

Core Points - Tongcheng New Materials announced that investors holding "Tongcheng Convertible Bonds" can either convert at a price of 31.11 yuan per share or be forced to redeem at a face value of 100 yuan per bond plus accrued interest of 1.44 yuan per bond, totaling 101.44 yuan per bond [1] Group 1 - The announcement indicates that if investors do not convert their bonds within the specified timeframe, they may face significant investment losses due to forced redemption [1]

| 股票代码：603650 | 股票简称：彤程新材 | 编号：2025-090 | | --- | --- | --- | | 债券代码：113621 | 债券简称：彤程转债 | | 彤程新材料集团股份有限公司 关于实施"彤程转债"赎回暨摘牌的最后一次提示性公告 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 ●赎回登记日：2025 年 11 月 13 日 ●赎回价格：101.44 元/张 ●最后交易日：2025 年 11 月 10 日 自 2025 年 11 月 11 日起，"彤程转债"停止交易。 ●赎回款发放日：2025 年 11 月 14 日 ●最后转股日：2025 年 11 月 13 日 截至 2025 年 11 月 12 日收市后，距离 2025 年 11 月 13 日（"彤程转债"最后转 股日）仅剩 1 个交易日，2025 年 11 月 13 日为"彤程转债"最后一个转股日。 ●本次提前赎回完成后，"彤程转债"将自 2025 年 11 月 14 日起在上海证券交易 所摘牌。 ●投资者所持"彤程转债"除 ...

Core Viewpoint - The company announces the early redemption of its convertible bonds "Tongcheng Convertible Bonds" due to the triggering of conditional redemption clauses, with specific dates and prices outlined for investors [2][4][5]. Redemption Details - Redemption registration date is set for November 13, 2025 [2] - Redemption price is 101.44 CNY per bond [2][8] - Redemption payment date is November 14, 2025 [2][10] - Last trading day for the bonds is November 10, 2025, after which trading will cease [2][12] Conversion and Trading Information - The last conversion date for the bonds is November 13, 2025, with only two trading days remaining until this date [3][12] - The bonds will be delisted from the Shanghai Stock Exchange starting November 14, 2025 [4][12] Conditional Redemption Clause - The conditional redemption clause was triggered as the company's stock price was above 130% of the conversion price for 15 trading days [5][6] - The redemption applies to all registered bondholders as of the redemption registration date [7] Interest Calculation - The accrued interest for the bonds is calculated to be 1.44 CNY per bond, leading to a total redemption amount of 101.44 CNY [8][13] Tax Implications - Individual investors are subject to a 20% tax on interest income, resulting in a net redemption amount of 101.152 CNY after tax [13] - Qualified foreign institutional investors will receive the full redemption amount of 101.44 CNY without tax deductions [14]

Core Points - Tongcheng New Materials announced that the last conversion date for the "Tongcheng Convertible Bonds" is November 13, 2025, with only two trading days remaining until the market closes on November 11, 2025 [2] - After the early redemption, the "Tongcheng Convertible Bonds" will be delisted from the Shanghai Stock Exchange starting November 14, 2025 [2] - Investors can either convert their bonds at a conversion price of 31.11 CNY per share or face forced redemption at a total of 101.44 CNY per bond, which includes the face value and accrued interest [2] - The company warns that forced redemption may lead to significant investment losses for bondholders [2]

| 股票代码：603650 | 股票简称：彤程新材 | 编号：2025-089 | | --- | --- | --- | | 债券代码：113621 | 债券简称：彤程转债 | | 彤程新材料集团股份有限公司 关于实施"彤程转债"赎回暨摘牌的第七次提示性公告 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 ●赎回登记日：2025 年 11 月 13 日 ●赎回款发放日：2025 年 11 月 14 日 ●最后交易日：2025 年 11 月 10 日 自 2025 年 11 月 11 日起，"彤程转债"停止交易。 ●最后转股日：2025 年 11 月 13 日 截至 2025 年 11 月 11 日收市后，距离 2025 年 11 月 13 日（"彤程转债"最后转 股日）仅剩 2 个交易日，2025 年 11 月 13 日为"彤程转债"最后一个转股日。 ●本次提前赎回完成后，"彤程转债"将自 2025 年 11 月 14 日起在上海证券交易 所摘牌。 ●投资者所持"彤程转债"除在规定时限内按照 31.11 元/股 ...