Core Viewpoint - The company and its subsidiary, Lianyungang Qiangbang Quartz Products Co., Ltd., have been sentenced for commercial secret infringement, resulting in a fine of 2.7 million RMB [1] Group 1: Legal Proceedings - The company is the victim in this case, while Qiangbang was penalized for criminal activities related to the period before the acquisition [1] - The judgment is currently a first-instance ruling and has not yet taken effect, indicating potential uncertainty regarding the final outcome and subsequent enforcement [1] Group 2: Financial Impact - The company asserts that the ruling will not have a significant adverse effect on its current or future profits [1] - The company plans to pursue civil liability against relevant parties based on the terms of the equity transfer agreement once the judgment becomes effective [1]

Core Viewpoint - The company and its subsidiary, Lianyungang Qiangbang Quartz Products Co., Ltd., have been involved in a legal case where Qiangbang was convicted of commercial secret infringement and fined 2.7 million RMB [1] Group 1 - The court ruling was issued by the Intermediate People's Court of Lianyungang City, Jiangsu Province [1] - The company is the victim in this case, while Qiangbang was penalized for criminal activities related to the company prior to its acquisition [1] - Following the ruling's effectiveness, the company plans to pursue civil liability against relevant parties based on the terms of the equity transfer agreement signed with Duan Jingqiang, Duan Jingbang, and Qiangbang [1]

Core Viewpoint - The company, Quartz Co., focuses on the research, production, and sales of high-purity quartz sand, high-purity quartz tubes (rods, plates, ingots, and cylinders), quartz crucibles, and other quartz materials, primarily serving the semiconductor, photovoltaic, optical fiber, and optoelectronic industries [2]. Group 1 - The company is involved in the development and production of high-purity quartz materials [2]. - The products are mainly applied in various high-tech fields such as semiconductors and photovoltaics [2]. - The management plans to evaluate future business strategies in the commercial aerospace sector based on market demand, technical feasibility, investment returns, and overall strategic layout [2].

Investment Rating - The report maintains an investment rating of "Synchronize with the market - A" for the power equipment and new energy industry [1] Core Viewpoints - In November, the newly installed solar power capacity increased by 75% month-on-month, indicating a significant recovery in the solar energy sector [4] - The report highlights the need for comprehensive regulation to address "involutionary" competition in key industries such as new energy vehicles, lithium batteries, and photovoltaics, aiming to enhance industry concentration and maintain fair competition [5] Summary by Relevant Sections Investment Recommendations - Recommended stocks include: - Aishuo Co., Ltd. (600732.SH) - Buy - B - Longi Green Energy (601012.SH) - Buy - B - Daqian Energy (688303.SH) - Buy - B - Flat Glass Group (601865.SH) - Buy - A - Haibo Innovation (688411.SH) - Buy - A - Sungrow Power Supply (300274.SZ) - Buy - A - Deye Technology (605117.SH) - Buy - A - Langxin Group (300682.SZ) - Buy - B - Quartz Co., Ltd. (603688.SH) - Buy - A - Hengdian East Magnetic (002056.SZ) - Buy - A - Bowei Alloy (601137.SH) - Buy - A [2] Market Performance - The solar power industry has shown a strong performance over the past year, with a notable increase in installed capacity and a focus on improving product consistency and reducing costs in the sensor market [3][4] Price Tracking - The report provides insights into the pricing trends of key components in the solar energy supply chain, including polysilicon, silicon wafers, battery cells, and modules, indicating a mixed outlook with some price increases and stability expected in the near term [6][8][9]

Investment Rating - The industry rating is "Overweight" (first-time) [6] Core Insights - The report highlights the acquisition of 100% equity of Henan High Purity Minerals by AnCai High Technology, which occurred in September 2025. This acquisition aims to enhance the production and sales of high-purity quartz materials essential for semiconductor, photovoltaic, and optical fiber communication industries [6] - Quartz Co. has successfully mass-produced and sold various high-end quartz material products, including semiconductor-grade quartz tubes, rods, and ingots, as of November 27, 2025. These products are crucial for key processes in semiconductor manufacturing [6] - The establishment of high-purity quartz as the 174th new mineral type in China, announced in April 2025, signifies a breakthrough in domestic mineral resources, with purity levels not lower than 99.995%. This development is expected to strengthen the resilience and security of the domestic supply chain [6] Summary by Sections - **Recent Industry Performance**: The industry has shown a relative return of 6.65% over the past 12 months, with an absolute return of 23.5% [3] - **Investment Highlights**: The acquisition by AnCai High Technology and the production capabilities of Quartz Co. are pivotal developments, indicating a growing market for high-purity quartz materials [6] - **Market Demand**: High-purity quartz is characterized by its high-temperature resistance, corrosion resistance, low thermal expansion, high insulation, and transparency, making it indispensable for semiconductor and photovoltaic industries [6] - **New Mineral Classification**: The recognition of high-purity quartz as a new mineral type is expected to foster the development of new production capabilities and enhance the domestic supply chain [6]

12月25日，航天工程大宗交易成交13.6万股，成交额416.43万元，占当日总成交额的0.29%，成交价 30.62元，较市场收盘价37.42元折价18.17%。 | 交易日期 | 证券简称 | 证券代码 | | 成交价(元) 成交金额(万元) 成交量( *) 买入营业部 | | | 类出管业部 | 是否为专场 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-12-25 | 航天工程 | 603688 | 30,62 214.34 | | 机构专用 | ុំ​ | | 彩 | | 2025-12-25 | 航天工程 | 603698 | 30.62 202.09 | 6.6 | 空身落發展品 | 菜品在餐桌送料 | | Ka | ...

证券之星消息，12月25日非金属材料板块较上一交易日下跌0.61%，联瑞新材领跌。当日上证指数报收 于3959.62，上涨0.47%。深证成指报收于13531.41，上涨0.33%。非金属材料板块个股涨跌见下表： | 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 | | --- | --- | --- | --- | --- | --- | --- | --- | | 603612 索通发展 | | -4638.86万 | 12.43% | -2301.48万 | -6.17% | -2337.38万 | -6.27% | | 920971 天马新材 | | 1059.09万 | 12.11% | -46.56万 | -0.53% | 91.52万 | 1.05% | | 605086 龙高股份 | | 696.75万 | 5.28% | -146.88万 | -1.11% | -549.87万 | -4.16% | | 688300 联瑞新材 | | 302.88万 | 0.98% | -1528.42万 | -4.95 ...

Core Viewpoint - Quartz Co., Ltd. has experienced a stock price increase of 30.45% year-to-date, but recent trading data indicates a decline in stock performance and significant net outflow of funds [2][1]. Financial Performance - For the period from January to September 2025, Quartz Co., Ltd. reported a revenue of 753 million yuan, a year-on-year decrease of 24.46%, and a net profit attributable to shareholders of 135 million yuan, down 56.81% year-on-year [2]. - Cumulative cash dividends since the A-share listing amount to 3.374 billion yuan, with 2.945 billion yuan distributed over the past three years [3]. Stock Market Activity - As of December 25, the stock price was 37.23 yuan per share, with a market capitalization of 20.167 billion yuan. The trading volume was 1.20 billion yuan, with a turnover rate of 0.59% [1]. - The stock has appeared on the "Dragon and Tiger List" twice this year, with the most recent occurrence on April 9 [2]. Shareholder Structure - As of September 30, 2025, the number of shareholders was 55,200, a decrease of 13.28% from the previous period. The average number of circulating shares per person increased by 15.32% to 9,813 shares [2]. - Notable shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 3.6438 million shares, and new entrants such as Guotai Asset Advantage Mixed Fund [3].

Core Viewpoint - The company has successfully passed certifications for its self-produced high-purity quartz sand used in semiconductor diffusion and etching applications, and has secured a certain volume of orders from significant domestic and international clients [1] Group 1 - The company has confirmed that its high-purity quartz sand products have been certified by important domestic and international customers [1] - There is a certain volume of orders that have been secured for the high-purity quartz sand products [1] Group 2 - The company is making steady progress in the research and development of synthetic quartz sand, which is currently in the pilot testing phase [1]

格隆汇12月22日丨石英股份(603688.SH)在互动平台表示，公司用自产高纯石英砂生产的半导体扩散、 刻蚀领域用石英材料已通过了国内外重要客户认证，并有一定量订单落地。在高纯石英砂业务方面，公 司合成石英砂研发进展顺利，目前处于中试阶段。 ...