Market Performance - A-shares market showed overall positive performance in the morning, with the Shanghai Composite Index continuing to rise and the ChiNext Index surpassing the 3200-point mark [1][3] Sector Highlights - The non-ferrous metals sector led the market, with a rise of over 2%. Notable stocks included Zhangyuan Tungsten (002378) and Xianglu Tungsten (002842), which hit the daily limit up [2][3] - Other stocks in the non-ferrous metals sector that followed suit included Shenzhen New Star (603978), Bowei Alloy (601137), Shandong Gold (600547), Zhongtung High-tech (000657), Haotong Technology (301026), and Yunnan Zhiye (002428) [3] Precious Metals Surge - Precious metals prices experienced a significant surge, with domestic futures showing widespread increases. Platinum futures reached a new high of 619.95 CNY per gram, while palladium futures also hit a new high of 555.15 CNY per gram. Silver and gold futures also broke previous records [5] Other Sector Performances - Other sectors such as building materials, electrical equipment, and electronics also showed strong performance [6] - The non-bank financial sector performed well, with China Ping An breaking through the 70 CNY mark, reaching a four-year high [7] New Stock Listings - Three new stocks listed on the A-shares market all saw significant gains in the morning. Notably, Nabai Chuan (301667) surged over 240%, focusing on thermal management products for electric vehicles [10][11] - Xihua Technology (603248) saw a rise of over 180%, specializing in high-end equipment components for wind power and injection molding [12] - Tian Su Measurement (301449) increased by over 150%, providing measurement calibration and testing services across various industries [13]

Group 1 - The fluorochemical sector has seen an overall increase of 2.13% as of December 23, with specific stocks such as Duofu Duo, Tianji Co., and Tianci Materials reaching their daily limit up [1][2] - According to Juhua Co., the air conditioning market is expected to maintain stable growth by 2026, with R32 supply and demand remaining in a tight balance [2] - The demand for R134a is anticipated to increase due to the rapid development of new energy vehicles, leading to a tighter supply-demand balance [2] Group 2 - R125 is expected to experience tight supply due to a small internal quota ratio and reduced social inventory [2] - The tightening of refrigerant quotas is seen as a long-term trend, with major refrigerants like R32, R134a, and R125 expected to maintain a favorable market outlook and significant price upside potential [2] - The liquid cooling industry is projected to enhance the demand for fluorinated liquids and refrigerants [2]

Core Viewpoint - A-shares market shows strong performance with major indices rising, particularly the metals sector driven by surging precious metal prices [1][4][6] Group 1: Market Performance - Major indices in the A-shares market performed well, with the Shanghai Composite Index continuing to rise and the ChiNext Index surpassing the 3200-point mark [1][4] - The non-ferrous metals sector led the gains, with the sector's index rising over 2% during the session [4] Group 2: Sector Highlights - The surge in precious metal prices has significantly boosted the non-ferrous metals sector, making it one of the main highlights of the market [2][3] - Specific stocks such as Zhangyuan Tungsten Industry and Xianglu Tungsten Industry hit the daily limit up, while others like Shenzhen New Star and Shandong Gold also saw substantial gains [4] Group 3: Precious Metals - Precious metals prices continued to rise sharply, with domestic futures for platinum and palladium hitting their daily limits and reaching new highs [6] - The main platinum futures contract peaked at 619.95 yuan per gram, while palladium reached 555.15 yuan per gram, both marking new records since their listings [6] Group 4: New Stocks Performance - Three new stocks listed on the A-shares market all experienced significant increases, with Nanbaichuan seeing a rise of over 240% [11][12] - Other new listings like Xihua Technology and Tiansu Measurement also reported impressive gains of over 180% and 150%, respectively [13][14]

Group 1 - Shenzhen New Star increased by 5.06% on December 23, reaching a stock price of 27.00 CNY per share, with a trading volume of 199 million CNY and a turnover rate of 3.58%, resulting in a total market capitalization of 5.7 billion CNY [1] - Shenzhen New Star Light Alloy Materials Co., Ltd. specializes in the research, production, and sales of aluminum grain refiners, with its main business revenue composition being: aluminum foil raw materials 53.96%, aluminum grain refiners 33.53%, other products 7.92%, lithium hexafluorophosphate 4.19%, and others 0.40% [1] Group 2 - The top circulating shareholder of Shenzhen New Star includes the Oriental Alpha Fund, which entered the top ten shareholders in the third quarter, holding 1.6514 million shares, accounting for 0.78% of circulating shares, with an estimated floating profit of approximately 2.1468 million CNY [2] - The Oriental Alpha Industry Pioneer Mixed A Fund (011704) was established on July 21, 2021, with a latest scale of 800 million CNY, achieving a year-to-date return of 36.41% and a one-year return of 35.06% [2]

证券代码：603978 证券简称：深圳新星 公告编号：2025-111 深圳市新星轻合金材料股份有限公司 时根据相关规定管理员工持股计划资产，并维护员工持股计划持有人的合法权 益。 4、2025年9月12日，公司召开第五届董事会第三十二次会议，审议通过了 《关于2024年员工持股计划锁定期届满暨解锁条件成就的议案》，本员工持股 计划锁定期已届满，解锁条件已成就。本议案已经董事会薪酬与考核委员会审 议通过。根据公司2024年第二次临时股东大会的授权，相关事项无需再提交股 东大会审议。 5、截至2025年12月10日，公司2024年员工持股计划所持有的公司股票 1,883,926股已全部解锁并出售完毕。 二、本员工持股计划清算暨终止情况 关于2024年员工持股计划清算完毕暨终止的公告 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、准确性和完整性依法承担法律责任。 深圳市新星轻合金材料股份有限公司（以下简称"公司"）2024年员工持 股计划相关资产已全部清算完毕，根据中国证监会《关于上市公司实施员工持 股计划试点的指导意见》《上海证券交易所上市公司自律监管指引 ...

格隆汇12月16日丨深圳新星(603978.SH)公布，根据公司《2024年员工持股计划管理办法》的规定，若 员工持股计划所持有的公司股票全部出售，且本员工持股计划资产按相关规定清算和分配完毕的，经持 有人会议审议通过，本员工持股计划即可终止。公司于2025年12月16日召开2024年员工持股计划第二次 持有人会议，审议通过了《关于公司2024年员工持股计划提前终止的议案》。鉴于本员工持股计划所持 有的公司股票188.39万股已全部出售，并完成相关资产的清算、分配等工作，本员工持股计划实施完毕 并终止。 ...

格隆汇12月16日丨深圳新星(603978.SH)公布，根据公司《2024年员工持股计划管理办法》的规定，若 员工持股计划所持有的公司股票全部出售，且本员工持股计划资产按相关规定清算和分配完毕的，经持 有人会议审议通过，本员工持股计划即可终止。公司于2025年12月16日召开2024年员工持股计划第二次 持有人会议，审议通过了《关于公司2024年员工持股计划提前终止的议案》。鉴于本员工持股计划所持 有的公司股票188.39万股已全部出售，并完成相关资产的清算、分配等工作，本员工持股计划实施完毕 并终止。 ...

Investment Ratings - The report maintains a "Buy" rating for both the power equipment and environmental protection sectors [1]. Core Views - The Central Economic Work Conference emphasizes the application of green electricity and promotes the development of hydrogen, ammonia, methanol, and energy storage, indicating a positive outlook for investment opportunities in green energy sectors in 2026 [3]. - Domestic energy storage saw significant growth in November, with newly installed capacity reaching 4.51GW/13.03GWh, reflecting a month-on-month increase of 57.14% in power and 74.66% in capacity [3][7]. - The report highlights the importance of hydrogen and green fuels as new growth points, with expectations for increased investment in these areas due to supportive policies and market conditions [4]. Summary by Sections Energy Storage - Domestic energy storage is experiencing a boom, with November's new installations showing a 45.95% year-on-year increase in power and a 49.6% increase in capacity [3][7]. - The report anticipates that independent energy storage tenders will maintain a good level in 2026, supported by a complete revenue model through energy markets and auxiliary services [3]. Hydrogen and Green Fuels - The report suggests that hydrogen and methanol will play a crucial role in the non-electric applications of green electricity, with significant investment expected in these areas [4]. - The development of zero-carbon parks and factories is also highlighted as a key initiative for 2026 [3]. Wind Power - The report notes that in 2024, onshore wind power installations are expected to reach 75.8GW, a year-on-year increase of 9.68%, while offshore wind installations are projected to be 4.0GW, a decrease of 40.85% [8]. - The bidding capacity for wind power equipment in 2024 is expected to be 164.1GW, a 90% increase year-on-year [13]. Lithium Battery - The report indicates that the demand for lithium batteries remains strong, with December's retail sales of new energy vehicles expected to show a bright performance despite a year-on-year decline of 17% [19]. - The supply chain for lithium batteries is expected to stabilize, with ongoing negotiations for long-term contracts and price adjustments [22][23].

Group 1 - The PVDF concept sector rose by 1.39%, ranking third among concept sectors, with seven stocks increasing, including Zhongchuang Environmental Protection, which hit a 20% limit up [1] - Notable gainers in the sector included Dongyangguang, Juhua Co., Shenzhen New Star, and Sanmei Co., with increases of 9.99%, 2.66%, 1.38%, and 1.15% respectively [1] - The sector experienced a net inflow of 378 million yuan from main funds, with Dongyangguang leading the inflow at 485 million yuan [1] Group 2 - In terms of fund inflow ratios, Zhongchuang Environmental Protection, Dongyangguang, and Shenzhen New Star had the highest net inflow rates of 35.69%, 21.32%, and 4.68% respectively [2] - The top stocks by main fund flow included Dongyangguang with a trading volume of 484.67 million yuan and a turnover rate of 3.24% [2] - Other stocks with significant fund inflows included Zhongchuang Environmental Protection and Zhejiang Zhongcheng, with net inflows of 138.64 million yuan and 496.59 million yuan respectively [2] Group 3 - The stocks with the largest declines included Qizhou Dongfeng, Jinming Precision Machinery, and ST Lianchuang, with decreases of 2.42%, 2.10%, and 2.01% respectively [3] - Juhua Co. and Sanmei Co. also saw declines, with decreases of 2.66% and 1.15% respectively, despite the overall sector's positive performance [3] - The overall market sentiment reflected mixed performance, with some sectors like CPO and Hainan Free Trade Zone experiencing gains while others like Metal Lead and Metal Zinc faced declines [1]

格隆汇12月9日丨深圳新星(603978.SH)公布，截至本公告披露日，公司2024年员工持股计划所持有的公 司股票188.39万股已全部出售完毕。根据公司《2024年员工持股计划管理办法》的规定，若员工持股计 划所持有的公司股票全部出售，且本员工持股计划资产按相关规定清算和分配完毕的，经持有人会议审 议通过，本员工持股计划即可终止。后续将进行相关资产清算和分配工作，并终止本次员工持股计划。 ...