Investment Rating - The report maintains an investment rating of "B" for the electronic skin industry, indicating a leading position in the market [1]. Core Insights - The electronic skin is a key tactile sensing system for humanoid robots, enabling them to interact with their environment through pressure and temperature sensing [13]. - The market for electronic skin is projected to reach $756 million by 2030, driven by the increasing demand for humanoid robots [4]. - The industry faces three major barriers: materials, manufacturing processes, and algorithms, which are critical for establishing competitive advantages [24][32]. Summary by Sections 1. Electronic Skin: Key to Humanoid Robot Interaction - Electronic skin mimics natural skin functions and is essential for humanoid robots to perceive their surroundings [13]. - The technology can be categorized into resistive, capacitive, and piezoelectric types, with resistive sensors being the most common in humanoid robots [2][21]. 2. Domestic Enterprises Accelerating Layout - Overseas companies dominate the high-end market, holding approximately 57.1% of the global flexible tactile sensor market share [4][41]. - Domestic companies are rapidly closing the technology gap, supported by favorable policies and manufacturing capabilities, with firms like Fulei New Materials and Hanwei Technology emerging as key players [5][46]. 3. Key Companies to Watch - Fulei New Materials has completed pilot production and is supplying small batches to leading clients in the dexterous hand sector [5]. - Hanwei Technology has established partnerships with nearly 30 robot manufacturers and is expanding its production capacity [5]. - Keli Sensor and other companies are also making strides in the electronic skin sector, focusing on multi-physical sensors and flexible tactile sensors [5][46].

Core Viewpoint - On November 21, a total of 9 companies had their restricted shares unlocked, with a total unlocking volume of 753 million shares, amounting to a market value of 49.147 billion yuan based on the latest closing price [1] Summary by Category Unlocking Volume - The companies with the highest unlocking volumes are Ruijie Networks, Jinghua New Materials, and Fenghuo Communication, with unlocking shares of 700 million, 27.1998 million, and 17.2516 million respectively [1] Unlocking Market Value - In terms of unlocking market value, Ruijie Networks, Jinghua New Materials, and Fenghuo Communication lead with values of 47.866 billion yuan, 0.702 billion yuan, and 0.039 billion yuan respectively [1] Unlocking Ratio - One company has an unlocking ratio exceeding 10%. The unlocking ratios for Ruijie Networks, Jinghua New Materials, and Fenghuo Communication are 88.0%, 9.39%, and 1.34% respectively [1]

Core Viewpoint - Shanghai Jinghua Adhesive New Materials Co., Ltd. is set to list 27.1998 million restricted shares, accounting for 9.39% of the total share capital, on November 21, 2025, following a simplified issuance process approved by the China Securities Regulatory Commission [1] Summary by Relevant Sections - **Share Issuance Details** - The restricted shares are part of a simplified issuance to specific investors, with the issuance approved on April 29, 2025, and completed on May 21, 2025 [1] - The issuance price was set at 8.36 yuan per share, raising approximately 227 million yuan in total [1] - **Lock-up Period** - According to regulations, the shares subscribed by the issuance targets cannot be transferred within six months from the end of the issuance [1] - The lock-up period for these shares is nearing its end, meeting the conditions for listing and circulation [1]

Market Overview - The Shanghai Composite Index closed at 3949.83 points, with a decline of 0.56% [1] - The total trading volume of A-shares reached 1,296.161 billion yuan [1] Technical Analysis - A total of 112 A-shares experienced a death cross, where the 5-day moving average fell below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Shanshui Bide (300844) with a distance of -1.40% - Yingboer (300681) with a distance of -1.28% - Yake Technology (002409) with a distance of -1.06% [1] Individual Stock Performance - Shanshui Bide (300844) saw a decline of 6.62% with a trading turnover rate of 3.31% [1] - Yingboer (300681) decreased by 2.30% with a turnover rate of 2.45% [1] - Yake Technology (002409) fell by 0.20% with a turnover rate of 2.33% [1] - Other notable declines include: - Bohai Automobile (600960) down by 3.53% - Western Gold (601069) down by 2.80% [1] Additional Stock Movements - Stocks such as Muyu (002714) and Qinglong (002457) showed slight increases of 0.80% and -3.28% respectively [2] - The stock performance of various companies indicates a mixed sentiment in the market, with several stocks experiencing declines while a few managed to gain [2]

（文章来源：证券日报） 证券日报网讯 11月17日晚间，晶华新材发布公告称，公司于2025年11月14日获悉公司控股股东周晓东 先生所持有本公司部分股份解除质押，本次解除质押股份数量为6，450，000股。 ...

截至发稿，晶华新材市值为78亿元。 每经AI快讯，晶华新材（SH 603683，收盘价：26.9元）11月17日晚间发布公告称，上海晶华胶粘新材 料股份有限公司实际控制人、控股股东周晓东先生截至目前持有公司股份约3941万股，占公司总股本的 13.61%。本次部分股份解除质押后，周晓东先生累计质押公司股份645万股，占其持有公司股份总数的 16.37%，占公司总股本的2.23%。公司控股股东及实际控制人周晓南先生、周晓东先生，及其一致行动 人周锦涵先生合计持有公司股份约9700万股，合计占公司总股本33.49%。 每经头条（nbdtoutiao）——展望"十五五" | 专访尹艳林：让有钱且愿消费的人顺利消费；个税起征点可 提高，最高边际税率可下调，让有关群体少缴税、多收入 2024年1至12月份，晶华新材的营业收入构成为：化学原料和化学制品制造业占比92.36%，橡胶和塑料 制品业占比7.25%，其他业务占比0.39%。 （记者 曾健辉） ...

证券代码：603683 证券简称：晶华新材 公告编号：2025-090 重要内容提示： 本次股票上市类型为非公开发行股份；股票认购方式为网下，上市股数为 27,199,772股。 上海晶华胶粘新材料股份有限公司 2024 年度以简易程序向特定对象发行限售股 上市流通公告 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、准确性和完整性依法承担法律责任。 本次股票上市流通总数为27,199,772股。 本次股票上市流通日期为2025 年 11 月 21 日。 一、本次限售股上市类型 上海晶华胶粘新材料股份有限公司（以下简称"公司"）本次上市流通的限 售股类型为向特定对象发行限售股。 （一）非公开发行核准情况 2025 年 4 月 29 日，公司收到中国证券监督管理委员会出具的《关于同意 上海晶华胶粘新材料股份有限公司向特定对象发行股票注册的批复》（证监许可 〔2025〕909 号），中国证监会同意公司向特定对象发行股票的注册申请。本次 发行数量为 27,199,772 股，每股面值人民币 1.00 元，每股发行价格为人民币 8.36 元，募集资金总额为人民币 ...

东方证券股份有限公司 关于上海晶华胶粘新材料股份有限公司 2024 年度以简易程序向特定对象发行限售股 上市流通的核查意见 作为上海晶华胶粘新材料股份有限公司（以下简称"晶华新材"或"公 司"）以简易程序向特定对象发行股票的保荐机构，东方证券股份有限公司（以 下简称"东方证券"或"保荐机构"）根据《上市公司证券发行注册管理办法》、 《上海证券交易所股票上市规则》、《上海证券交易所上市公司自律监管指引第 1 号——规范运作》等的相关规定和要求，对晶华新材 2024 年度以简易程序向特 定对象发行股份解除限售上市流通事项进行了核查，具体核查情况及意见如下： 一、本次申请解除限售股份的基本情况 （一）本次申请解除限售股份的取得情况 2025 年 7 月 22 日，公司对 2024 年限制性股票与股票期权激励计划中， 部分激励对象已获授但尚未解除限售的限制性股票合计 64,400 股进行回购注销， 回购注销完成后，股本数量由 289,699,061 股减少至 289,634,661 股，具体内容详 见公司于 2025 年 7 月 18 日在上海证券交易所网站（www.sse.com.cn）披露的《上 海晶华胶粘新材料 ...

上海晶华胶粘新材料股份有限公司 关于控股股东部分股份解除质押的公告 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: 证券代码：603683 证券简称：晶华新材 公告编号：2025-091 一、上市公司股份解除质押 | 剩余被质押股份数量占其所持股份比例 | 16.37% | | --- | --- | | 剩余被质押股份数量占公司总股本比例 | 2.23% | 本次股份解除质押后，周晓东先生后续暂无股份质押计划，如有将根据实际 情况及时履行告知义务。公司将按照相关法律法规的规定及时履行信息披露义 务。 二、控股股东、实际控制人及其一致行动人累计质押股份情况 截至公告披露日，公司控股股东及实际控制人周晓南先生、周晓东先生，及 其一致行动人周锦涵先生合计持有公司股份 96,997,940 股，合计占公司总股本 33.49%。具体情况如下： | | | | | | | | 已质押 | 未质押 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | - ...

Group 1 - The company Jinghua New Materials (SH 603683) announced that approximately 27.2 million restricted shares will be unlocked and listed for trading on November 21, 2025, accounting for 9.4% of the total share capital [1][1][1] - For the year 2024, the revenue composition of Jinghua New Materials is projected to be 92.36% from the chemical raw materials and chemical products manufacturing industry, 7.25% from the rubber and plastic products industry, and 0.39% from other businesses [1][1][1] - As of the report date, the market capitalization of Jinghua New Materials is 7.8 billion yuan [1][1][1]