Group 1 - The electronic gas sector experienced a significant surge in early trading on January 8, with companies such as Sanfu Co., Ltd. and Heyuan Gas hitting the daily limit up [1] - Other companies in the sector, including Jinhong Gas, Huate Gas, Silane Technology, and Yake Technology, also saw notable increases in their stock prices [1]

Industry Overview - The Ministry of Commerce has initiated an anti-dumping investigation on imported dichlorodihydrosilane (DCS) from Japan starting January 7 [1] - DCS is a key material for thin film deposition in chip manufacturing, widely used in logic and memory chips, and can also synthesize silicon-based precursors [1] - The global market for DCS is highly concentrated, with the top five manufacturers holding 78.0% market share as of 2023, including major producers like Shinetsu and Nippon Sanso [1] - The global market size for DCS is projected to reach $1.6 billion by 2030, with a compound annual growth rate (CAGR) of 6.1% from 2024 to 2030 [1] Market Drivers - Growth in the semiconductor industry and technological innovations in the electronics sector are core drivers for the DCS market [1] - The demand for semiconductor devices continues to rise due to advancements in smartphones, AI, and 5G communications, which in turn boosts the demand for high-purity silicon materials and DCS [1] - The expansion of the semiconductor manufacturing industry in the Asia-Pacific region, with increased investments from countries like China and South Korea, further enhances market demand [1] Product Insights - Products with ≥99.9% purity dominate the DCS market, with the semiconductor sector being the largest downstream market, accounting for 76.2% of the demand [1] - The increasing quality requirements in the semiconductor industry are expected to sustain the demand for high-purity DCS, alongside the expansion of emerging technology applications [1] Company Developments - Jinhong Gas has indicated that electronic-grade DCS is one of the products planned for its convertible bond fundraising project, "New High-end Electronic Materials Project," which has successfully entered trial production, with an expected capacity of 200 tons per year upon reaching full production [3] - Sanfu Co., Ltd. is the applicant for the anti-dumping investigation, and its electronic-grade DCS products have passed quality verification in 2023, achieving bulk supply [3] Supply Chain Dynamics - The upstream supply chain includes suppliers of raw silicon and chlorine, while the downstream directly connects to semiconductor manufacturing companies, with DCS producers positioned in the midstream [2]

证券代码：603938 证券简称：三孚股份 公告编号：2026-001 拟签字注册会计师：张少波先生，2022 年获得中国注册会计师资质，2020 年开始从事上市公司审计，2025 年开始在中瑞诚执业，2025 年开始为本公司提 供审计服务，近三年签署和复核的上市公司 0 家。 （二）诚信记录情况 张少波先生近三年无执业行为受到刑事处罚，无受到证监会及其派出机构、 行业主管部门的行政处罚、监督管理措施，无受到证券交易场所、行业协会等自 律组织的自律监管措施、纪律处分等情况。 （三）独立性说明 张少波先生不存在违反《中国注册会计师职业道德守则》对独立性要求的情 形。 唐山三孚硅业股份有限公司 关于变更签字会计师的公告 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。 唐山三孚硅业股份有限公司（以下简称"公司"）于 2025 年 10 月 23 日召 开第五届董事会第十六次会议，于 2025 年 11 月 10 日召开 2025 年第一次临时股 东大会，审议通过了《关于聘任会计师事务所的议案》，同意聘任中瑞诚会计师 事务所（特 ...

Core Viewpoint - Tangshan Sanfu Silicon Industry Co., Ltd. has successfully passed the acceptance of its new project for the filling and storage of high-purity tetraethyl orthosilicate, marking a significant step towards domestic production and supply of this key semiconductor material, which has historically relied on imports [2][3]. Group 1: Project Details - The project involves the expansion of an annual production line for 8,000 tons of high-purity tetraethyl orthosilicate, with a total investment of 17 million yuan [2]. - The project utilizes an integrated model of "pipeline transportation + filling and storage," using self-produced electronic-grade silicon tetrachloride as raw material [2]. - The successful launch of this project enhances the company's product offerings and strengthens its competitive position in the electronic chemicals sector [3]. Group 2: Market Implications - The domestic market for tetraethyl orthosilicate is expected to grow rapidly due to increasing demand from industries such as artificial intelligence and new energy vehicles [3]. - The company has begun delivering products to major domestic clients and is sending samples to international customers, indicating the formation of initial import substitution capabilities [3]. - The project is seen as a critical support for the self-sufficiency of China's semiconductor supply chain, particularly in the silicon-based precursor materials segment [2][3]. Group 3: Industry Context - The national government is increasing support for the semiconductor materials sector, promoting the acceleration of domestic production of high-end electronic chemicals [4]. - The global shift of third-generation semiconductor production capacity, such as silicon carbide and gallium nitride, to China is driving up demand for upstream materials [4]. - The company’s core advantage lies in its circular economy supply chain from chlorosilane to electronic specialty gases and precursor materials, which can reduce sales costs due to overlapping customer bases [4]. Group 4: Future Outlook - The next 3 to 5 years are considered a critical window for the development of domestic semiconductor material companies, emphasizing the need for technological iteration and capacity layout [5]. - If the company can continue to deepen its involvement in the tetraethyl orthosilicate sector and expand into more silicon-based precursor products, it has the potential to become a leading platform enterprise in the domestic electronic materials market [5].

二、对公司的影响 唐山三孚硅业股份有限公司关于全资子公司 "正硅酸乙酯充装及储存项目"验收合格的公告 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。 一、项目基本情况 唐山三孚硅业股份有限公司（以下简称"公司"）通过整体规划，利用集团内 各子公司的产业优势，于近期实现了8000吨/年高纯正硅酸乙酯的生产及充装能力。 其中由控股子公司唐山三孚新材料有限公司（以下简称"三孚新材料"）扩建"年 产8000吨高纯正硅酸乙酯"专项生产线，已建设完毕并投产；由全资子公司唐山三 孚电子材料有限公司（以下简称"三孚电子材料"）新建"正硅酸乙酯充装及储存 项目"，已于近日建设完毕并验收合格，取得相关批复许可。以上两项目合计投资 人民币1700万元。 高纯正硅酸乙酯产品以公司电子级四氯化硅为原材料，在三孚新材料进行生产 后经管道输送至三孚电子材料进行充装及存储。目前该产品已实现国内主要客户顺 利交付并已向国际客户送样，产品质量符合客户要求并形成进口替代。 该产品为电子级正硅酸乙酯的原材料，同时也应用于碳化硅、高纯合成石英等 领域。电子级正硅 ...

Group 1 - The chemical raw materials sector experienced a decline of 0.21% compared to the previous trading day, with Sanfu Co., Ltd. leading the decline [1] - The Shanghai Composite Index closed at 3965.28, up 0.04%, while the Shenzhen Component Index closed at 13537.1, down 0.49% [1] - Notable gainers in the chemical raw materials sector included Hualitai, which rose by 9.99% to a closing price of 15.30, and Weiyuan Co., which increased by 8.03% to 16.82 [1] Group 2 - The chemical raw materials sector saw a net outflow of 350 million yuan from institutional investors, while retail investors contributed a net inflow of 278 million yuan [2] - Major stocks with significant net inflows from retail investors included Weiyuan Co. with 69.46 million yuan and Hualitai with 67.40 million yuan [3] - Conversely, institutional investors showed a net outflow in several stocks, including Weiyuan Co. and Hualitai, indicating a shift in investment sentiment [3]

Core Viewpoint - Sanfu Co., Ltd. has successfully achieved a production and filling capacity of 8,000 tons/year of high-purity tetraethyl orthosilicate through strategic planning and leveraging the industrial advantages of its subsidiaries [1][2] Group 1: Production and Investment - The expansion of the production line for "annual output of 8,000 tons of high-purity tetraethyl orthosilicate" has been completed and is now operational [1] - The new "tetraethyl orthosilicate filling and storage project" has also been completed and passed inspection, receiving the necessary approvals [1] - The total investment for these two projects amounts to RMB 17 million [1] Group 2: Product Applications and Market Development - High-purity tetraethyl orthosilicate is produced using the company's electronic-grade silicon tetrachloride as raw material and is transported to Sanfu Electronic Materials for filling and storage [1] - The product has been successfully delivered to major domestic customers and samples have been sent to international clients, meeting quality requirements and forming an import substitution [1] - This product serves as a precursor material for electronic-grade tetraethyl orthosilicate, primarily used in storage chips and logic chips, and has synergies with existing electronic specialty gas products [1][2] Group 3: Strategic Impact - The successful launch of this project enriches the company's product categories and enhances the circular economy industrial chain, contributing to improved overall competitiveness [2]

名称：唐山三孚新材料有限公司 唐山三孚硅业股份有限公司 关于控股子公司完成工商变更登记的公告 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。 唐山三孚硅业股份有限公司（以下简称"公司"）于 2025 年 12 月 11 日召 开第五届董事会第十七次会议，审议通过了《关于对控股子公司增资的议案》， 为进一步增强公司控股子公司唐山三孚新材料有限公司（以下简称"三孚新材料"） 在硅烷偶联剂方向的项目研发、市场拓展、产品量产等方面的综合实力，公司拟 以自有资金 28,000 万元对三孚新材料进行增资，增资后三孚新材料注册资本由 100,000 万元变更为 128,000 万元，公司直接持有三孚新材料 95.74%的股权，同 时通过公司控股子公司唐山三孚科技有限公司（以下简称"三孚科技"）控制三 孚新材料 4.10%的股权。详细内容请见公司于 2025 年 12 月 12 日在上海证券交 易所网站（http://www.sse.com.cn）及公司指定信息披露媒体《证券日报》上 披露的《关于对控股子公司增资的公告》（公告编号：20 ...

Group 1 - The company announced an increase in capital for its subsidiary, Sanfu New Materials, amounting to 280 million yuan using its own funds [1] - After the capital increase, the registered capital of Sanfu New Materials will change from 1 billion yuan to 1.28 billion yuan [1] - The company will directly hold 95.74% of the shares in Sanfu New Materials, while controlling an additional 4.10% through Sanfu Technology [1] Group 2 - Recently, Sanfu New Materials completed the industrial and commercial change registration and obtained a new business license [1]

Group 1 - The organic silicon concept increased by 1.40%, ranking 8th among concept sectors, with 35 stocks rising, including Sanfu Co., Ltd. and Jitai Co., Ltd. hitting the daily limit [1] - Leading stocks in the organic silicon sector included Huasheng Lithium, Tianshi Materials, and Fuxiang Pharmaceutical, which rose by 11.81%, 9.37%, and 6.09% respectively [1] - The stocks with the largest declines were Delian Group, Bofei Electric, and Sanyou Chemical, which fell by 8.96%, 5.17%, and 1.48% respectively [1] Group 2 - The organic silicon sector saw a net inflow of 1.278 billion yuan, with 23 stocks receiving net inflows, and 5 stocks exceeding 50 million yuan in net inflow [2] - Tianshi Materials led the net inflow with 996 million yuan, followed by Fuxiang Pharmaceutical, Sanfu Co., Ltd., and Jitai Co., Ltd. with net inflows of 74.52 million yuan, 73.29 million yuan, and 71.07 million yuan respectively [2] - The net inflow ratios for Jitai Co., Ltd., Sanfu Co., Ltd., and Hengxing Technology were 47.68%, 20.30%, and 17.48% respectively [3] Group 3 - Tianshi Materials had a daily increase of 9.37% with a turnover rate of 12.37% and a net inflow of 996.2 million yuan [3] - Fuxiang Pharmaceutical increased by 6.09% with a turnover rate of 13.46% and a net inflow of 74.52 million yuan [3] - Sanfu Co., Ltd. rose by 9.99% with a turnover rate of 5.04% and a net inflow of 73.29 million yuan [3]