Investment Rating - The industry rating is "Strongly Outperform the Market," indicating that the overall return of the industry is expected to exceed the market benchmark index by more than 5% in the next 6 months [44]. Core Insights - The Wind New Materials Index closed at 6029.22 points, reflecting a week-on-week increase of 4.32%. The semiconductor materials index rose by 0.14%, while the organic silicon materials index increased by 4.15% [3][10]. - DRAM prices have surged by over 10% due to AI demand, with predictions of a 55-60% increase in contract prices for the first quarter. This trend is driven by strong contract price increases and the growing need for advanced memory products for AI servers [4][25][26]. - Newhan New Materials announced a cash acquisition of 51% of Hai Rui Te Engineering Plastics Co., Ltd. for 12.8826 million yuan, enhancing its position in the PEEK resin market [4][29]. Market Overview - The semiconductor materials sector is experiencing rapid domestic production acceleration, with significant expansion in downstream wafer factories. Companies like Tongcheng New Materials are making strides in import substitution [4][25]. - The demand for high-performance materials is expected to grow as domestic manufacturing upgrades continue, positioning the new materials industry for rapid development [4][25]. - The photovoltaic and wind power sectors are thriving under the carbon neutrality initiative, with recommendations to focus on upstream raw material companies like Hosheng Silicon Industry and Lianhong New Technology [4][25].

金属行业 2026 年度策略系列报告之小金属&新材料篇 地锁金戈，云生万象 glmszqdatemark 重点公司盈利预测、估值与评级 | 代码 | 简称 | 股价 | | EPS（元） | | | PE（X） | | 评级 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | （元） | 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | | | 600301.SH | 华锡有色 | 52.60 | 1.21 | 2.45 | 3.02 | 43 | 21 | 17 | 推荐 | | 000960.SZ | 锡业股份 | 40.97 | 1.48 | 2.82 | 2.88 | 28 | 15 | 14 | 推荐 | | 605376.SH | 博迁新材 | 73.99 | 0.87 | 2.09 | 4.08 | 85 | 35 | 18 | 推荐 | | 300811.SZ | 铂科新材 | 82.19 | 1.54 | 2.09 | 2.66 | 53 | 39 | 31 ...

Group 1 - The report emphasizes the strategic importance of key metals, highlighting that supply control and application demand in critical fields like technology and military are crucial for pricing [16][20][21] - The report identifies significant supply disruptions in tin due to slow recovery in Myanmar and regulatory changes in Indonesia, leading to a persistent tight supply situation [26][35][40] - The report notes that tungsten is a backbone of high-end manufacturing, with supply tightening driving significant price increases, supported by steady demand from sectors like photovoltaics and military applications [9][16][21] Group 2 - The report discusses the impact of AI technology on the development of electronic new materials, indicating that advancements in AI will drive demand for upgraded materials to meet higher performance requirements [9][10][12] - The report recommends investing in domestic strategic resource sectors and electronic new materials benefiting from AI technology, highlighting specific companies such as Huaxi Nonferrous, Xiyegongsi, and others [13][21] - The report outlines the tightening supply of antimony and the potential for price convergence due to the relaxation of export controls, which may benefit domestic demand [9][10][12]

Market Overview - The energy metals sector experienced a decline of 0.2% on January 22, with Yongxing Materials leading the drop [1] - The Shanghai Composite Index closed at 4122.58, up 0.14%, while the Shenzhen Component Index closed at 14327.05, up 0.5% [1] Stock Performance - Notable gainers in the energy metals sector included: - Boqian New Materials (605376) with a closing price of 77.74, up 5.07% and a trading volume of 158,000 shares, totaling 1.216 billion yuan [1] - Shengxin Lithium Energy (002240) closed at 39.13, up 4.82% with a trading volume of 1.0251 million shares, totaling 3.977 billion yuan [1] - Conversely, Yongxing Materials (002756) closed at 52.50, down 2.38% with a trading volume of 191,600 shares, totaling 1.012 billion yuan [2] Capital Flow - The energy metals sector saw a net outflow of 846 million yuan from institutional investors, while retail investors contributed a net inflow of 738 million yuan [2] - The detailed capital flow for selected stocks showed: - Boqian New Materials had a net inflow of 124 million yuan from institutional investors, accounting for 10.22% of its trading volume [3] - Yongxing Materials experienced a significant net outflow of 101 million yuan from institutional investors, representing 9.99% of its trading volume [3]

1月22日，博迁新材涨5.05%，截至发稿，报77.73元/股，成交6.85亿元，换手率3.45%，总市值203.34亿 元。博迁新材股价已经连续5天上涨，区间累计涨幅21.89%。 资料显示，江苏博迁新材料股份有限公司位于江苏省宿迁市高新技术开发区江山大道23号，成立日期 2010年11月5日，上市日期2020年12月8日，公司主营业务涉及电子专用高端金属粉体材料的研发、生产 和销售。主营业务收入构成为：镍基产品76.28%，铜基产品10.27%，其他(补充)6.34%，银粉4.95%，合 金2.16%。 从基金十大重仓股角度 数据显示，国泰基金旗下1只基金重仓博迁新材。国泰价值精选灵活配置混合A（005726）三季度减持 11.34万股，持有股数17.41万股，占基金净值比例为5.21%，位居第七大重仓股。根据测算，今日浮盈 赚取约65.11万元。连续5天上涨期间浮盈赚取231.38万元。 国泰价值精选灵活配置混合A（005726）成立日期2018年8月8日，最新规模2.18亿。今年以来收益 15.21%，同类排名388/8843；近一年收益56.25%，同类排名1394/8096；成立以来收益180.6 ...

中信建投主要观点如下： 白银目前主要用于光伏电池电极，由于近期白银价格持续上涨，目前银浆在组件成本中占比已经达到 19.3%，成为第一大成本 2019年以来白银开始出现供需缺口并延续至今，考虑白银供给端刚性+新兴应用接力增长，预计白银供 需长期紧平衡。 供给端：矿产缺乏弹性，回收增长有限。白银供给主要来自采矿(占比超过80%)和回收，采矿端主要是 作为铜/铅/锌/金矿副产品产出(占比72%)，其中铅锡矿白银品位较高，但多因素影响下过去10年产量一 直下降，独立银矿(占比28%)则面临存量矿品位下降、寻找新矿充满不确定性问题;回收端尽管依靠工业 含银废料增加+回收技术提升，回收量有增长，但弹性有限。 需求端：光伏需求具备韧性，AI算力和汽车电子白银需求也有增长趋势。2024年光伏在白银需求中占 比已经来到17.6%，对白银供需平衡影响已经较大，尽管短期光伏受到消纳瓶颈限制装机增速下滑，但 随着储能装机增加+电网灵活性升级逐步得到改善，远期预计光伏终将重回增长轨道。 硅料、白银同时涨价加剧组件成本压力，降低银耗成当务之急 2024年以来光伏由于供给严重过剩，全产业链均面临亏损局面，且近期硅料、白银价格上涨，光伏电 ...

| 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 | | --- | --- | --- | --- | --- | --- | --- | --- | | 002240 | 盛新锂能 | 6.70 Z | 25.18% | -2.19 Z | -8.24% | -4.51 Z | -16.94% | | 002460 | 赣锋锂业 | 6.03亿 | 12.81% | -2.48 Z | -5.27% | -3.55 Z | -7.54% | | 002466 | 天齐锂业 | 4.85 Z | 12.52% | -2.01 Z | -5.19% | -2.84 Z- | -7.33% | | 603799 | 华友钻业 | 1.77 Z | 5.03% | 3069.47万 | 0.87% | -2.08 Z | -5.90% | | 000762 西藏矿业 | | 9728.32万 | 8.45% | -4174.73万 | -3.63% | -5553.58万 | -4.83% | | 002192 | 融捷股份 | ...

证券日报网讯 1月20日，博迁新材发布公告称，公司股票于2026年1月16日、1月19日、1月20日连续三 个交易日收盘价格涨幅偏离值累计超过20%，属于股票交易异常波动情形。经公司自查，并书面征询公 司控股股东及实际控制人，截至本公告披露日，确认不存在应披露而未披露的重大信息。 （文章来源：证券日报） ...

Summary of Key Points Core Viewpoint - On January 20, a total of 47 stocks were involved with institutional investors, with 25 showing net buying and 22 showing net selling. Group 1: Institutional Net Buying - The top three stocks with the highest net buying by institutions were Vision China, Cangzhou Dahua, and Hunan Silver, with net buying amounts of 112.25 million, 104.37 million, and 80.83 million respectively [1][2]. - Vision China experienced a price drop of 5.77% on the day, while Cangzhou Dahua and Hunan Silver both saw price increases of 10.00% and 10.03% respectively [2]. Group 2: Institutional Net Selling - The top three stocks with the highest net selling by institutions were Boqian New Materials, Sanwei Communication, and Tongfu Microelectronics, with net outflows of 294.30 million, 193.60 million, and 116.59 million respectively [1][4]. - Boqian New Materials had a price increase of 6.77%, while Sanwei Communication and Tongfu Microelectronics experienced price drops of 9.98% and 5.85% respectively [4].

证券代码： 605376 证券简称：博迁新材 公告编号：2026-003 公司股票于 2026 年 1 月 16 日、1 月 19 日、1 月 20 日连续三个交易日收盘价 格涨幅偏离值累计超过 20%，根据《上海证券交易所股票上市规则》的有关规定， 属于股票交易异常波动情形。 江苏博迁新材料股份有限公司 股票交易异常波动公告 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: 江苏博迁新材料股份有限公司（以下简称"公司"）股票于 2026 年 1 月 16 日、1 月 19 日、1 月 20 日连续三个交易日收盘价格涨幅偏离值累计超过 20%，根据 《上海证券交易所股票上市规则》的有关规定，属于股票交易异常波动情形。 经公司自查，并书面征询公司控股股东及实际控制人，截至本公告披露日， 确认不存在应披露而未披露的重大信息。 一、 股票交易异常波动的具体情况 二、公司关注并核实的相关情况 针对公司股票交易异常波动，公司对有关事项进行了核查，并书面征询了本 公司控股股东及实际控制人，现将有关情况说明如下： 2、公司将严 ...