Core Viewpoint - New Huai Investment Holdings Limited plans to reduce its stake in Boqian New Materials by selling up to 2.616 million shares through block trading, which represents a 1% reduction in the company's total share capital [1] Summary by Sections Shareholding Changes - New Huai Investment Holdings Limited previously held 13.08 million shares, accounting for 5.00% of the total shares [1] - As of October 29, 2025, the company has completed the sale of 2.616 million shares between August 28 and October 29, 2025, at prices ranging from 43.52 to 53.64 yuan per share, totaling a transaction value of 122 million yuan [1] - Following the reduction, New Huai Investment now holds 10.464 million shares, representing 4.00% of the total shares [1]

Core Insights - The energy metals sector experienced a significant increase of 3.7% on October 30, with Yongxing Materials leading the gains [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Energy Metals Sector Performance - Yongxing Materials (002756) closed at 45.82, up 10.01% with a trading volume of 394,500 shares and a transaction value of 17.45 billion [1] - Tianqi Lithium (002466) closed at 55.68, up 9.67% with a trading volume of 1,815,000 shares and a transaction value of 97.74 billion [1] - Xizang Mining (000762) closed at 26.60, up 7.17% with a trading volume of 721,500 shares and a transaction value of 18.74 billion [1] - Ganfeng Lithium (002460) closed at 72.37, up 5.34% with a trading volume of 1,462,900 shares and a transaction value of 104.34 billion [1] - Other notable performers include Shengxin Lithium Energy (002240) up 4.34%, Huayou Cobalt (603799) up 4.28%, and Yongshan Lithium (6633399) up 3.60% [1] Capital Flow Analysis - The energy metals sector saw a net inflow of 2.701 billion in main funds, while retail funds experienced a net outflow of 1.222 billion [2] - Major stocks like Tianqi Lithium and Huayou Cobalt had significant net inflows from main funds, while retail investors showed net outflows [3] - Yongxing Materials had a net inflow of 362 million from main funds, indicating strong institutional interest [3]

Core Viewpoint - The performance of the Zhongzheng 1000 ETF Enhanced (561280) shows a positive trend with a year-to-date return of 52.00% since its establishment on August 31, 2023, indicating strong market interest and potential investment opportunities [1] Group 1: Fund Performance - The Zhongzheng 1000 ETF Enhanced opened at 1.514 yuan, reflecting a 0.46% increase [1] - The fund's performance benchmark is the Zhongzheng 1000 Index return [1] - The fund manager is Industrial Bank of China Credit Fund Management Co., Ltd., with Liu Zihao as the fund manager [1] Group 2: Stock Performance - Key stocks in the fund include: - Boqian New Materials: down 0.17% - Haoyuan Pharmaceutical: up 0.36% - Yingjixin: down 0.31% - Caixun Co.: down 0.28% - Jinma Amusement: up 0.13% - Panjiang Co.: down 0.38% - Jindawei: up 0.20% - Yiyuan Communication: up 0.02% - Minxin Co.: down 5.44% - Nami Technology: down 0.06% [1] Group 3: Recent Returns - The fund has achieved a return of 1.93% over the past month [1]

Company and Industry Summary Company Overview - The company is involved in the production of nickel-based and copper-based products, with a focus on materials used in MLCC (Multi-Layer Ceramic Capacitors) and other electronic components. Key Points Industry Performance - In the first three quarters of 2025, the company's nickel-based product shipment volume remained flat compared to the same period last year, while the gross margin increased by 10 percentage points [2][3] - The copper-based products saw a quarter-on-quarter shipment increase of 18% in Q3 2025, generating approximately 30 million yuan in sales revenue, with a gross margin close to 23%, although it declined compared to the first half of the year due to rising raw material costs and sales structure adjustments [2][4] Production Capacity and Cost Management - The company plans to add 1,800 tons of nickel powder production capacity, with construction expected to be completed by the end of the year, although the specific contribution to capacity will depend on next year's conditions [2][4] - Short-term production costs have increased due to higher customer requirements and new employee inexperience, but the company aims to lower costs through process improvements to restore reasonable gross margins [2][4][5] Demand Dynamics - The demand for MLCC is significantly driven by the development of AI technology and the increasing application in automotive electronics, which now accounts for 30.5% of MLCC usage [2][6] - High-end AI servers require significantly more MLCC compared to standard servers, reshaping the supply-demand dynamics in the MLCC industry [6] - The company anticipates a gradual increase in demand for small particle powders in the AI sector starting in 2026 [3][12] Customs Verification Impact - Customs verification has delayed the recognition of some revenues, impacting Q3 profits by approximately 10 million yuan [2][7] - This verification process is a national-level control measure affecting the shipment rhythm, with delays ranging from one to three months, and is expected to become a norm in the short term [8] Customer Relationships and Market Trends - The company is expanding its cooperation with Japanese clients, although the market remains relatively closed, and large-scale orders are not yet confirmed [9] - The MLCC industry is currently in its third upward cycle, driven by inventory digestion and increased demand from AI and automotive electronics [9][10] - There is a polarization in global MLCC market demand, with strong demand in AI servers and automotive electronics, while traditional consumer electronics are underperforming [10][11] Future Outlook - The company expects high-end product growth to outpace that of standard products, with a focus on 300 nm applications currently dominating the market [13] - The introduction of new production equipment for 120 nm products is anticipated to meet the growing demand, particularly in AI servers [14][15] - The company is optimistic about the growth of multi-alloy powders for inductors and photovoltaic copper powders, although the latter is currently facing challenges due to market conditions [16] Strategic Investments - The acquisition of Meihong Alloy Materials is viewed as a financial investment, with potential applications in medical devices and other industrial fields [17] - The company is open to further acquisitions if opportunities arise that align with its strategic goals [17] Pricing Strategies - The company has communicated price increases for some products, with future adjustments dependent on market conditions and competitor pricing [18] - The high demand for high-end AI servers and automotive-grade MLCC is expected to maintain pressure on supply, leading to potential price increases in the mid-range MLCC market [18][19]

Group 1 - The core point of the news is that Boqian New Materials conducted a block trade on October 29, with a total of 85,200 shares traded, amounting to 4.5701 million yuan, which represents 0.72% of the total trading volume for the day [1][2] - The transaction price was 53.64 yuan per share, which is a 10% discount compared to the market closing price of 59.6 yuan [1][2]

Group 1 - The stock of Boqian New Materials closed down by 1.27% at a price of 56.15 yuan on October 28, with two block trades totaling 80,000 shares and a transaction amount of 4.0944 million yuan [1] - The first block trade occurred at a price of 51.18 yuan for 40,000 shares, amounting to 2.0472 million yuan, with a discount rate of -8.85% [1] - The second block trade mirrored the first, also at 51.18 yuan for 40,000 shares and a transaction amount of 2.0472 million yuan, maintaining the same discount rate of -8.85% [1] Group 2 - Over the past three months, Boqian New Materials has recorded a total of 29 block trades, with a cumulative transaction amount of 118 million yuan [1] - In the last five trading days, the stock has seen a slight increase of 0.07%, while the net outflow of main funds amounted to 3.6551 million yuan [1]

Core Viewpoint - 博迁新材 reported a decline in revenue for Q3 2025, but showed significant growth in net profit and adjusted net profit [1] Financial Performance - The company's operating revenue for Q3 2025 was 287 million yuan, representing a year-on-year decrease of 0.63% [1] - The net profit attributable to shareholders was 46.06 million yuan, reflecting a year-on-year increase of 51.02% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 43.48 million yuan, which is a year-on-year increase of 71.45% [1]

证券代码：605376 证券简称：博迁新材 公告编号：2025-048 江苏博迁新材料股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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： 会议召开时间：2025 年 11 月 05 日 （星期三） 09:00-10:00 一、 说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2025 年第三季度的经营 成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的范 围内就投资者普遍关注的问题进行回答。 二、 说明会召开的时间、地点 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 10 月 29 日 （星期三） 至 11 月 04 日 （星期二）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 stock@boqianpvm.com 进行提问 ...

证券代码： 605376 证券简称：博迁新材 公告编号：2025-047 一、监事会会议召开情况 表决结果：3 票赞成，0 票反对，0 票弃权。 江苏博迁新材料股份有限公司 第三届监事会第二十次会议决议公告 特此公告。 本公司监事会及全体监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。 江苏博迁新材料股份有限公司（以下简称"公司"）第三届监事会第二十次 会议通知于 2025 年 10 月 21 日以邮件送达的方式通知了全体监事，会议于 2025 年 10 月 27 日以通讯方式召开，本次会议应出席监事 3 人，实际出席监事 3 人， 会议由监事会主席蔡俊先生主持，本次会议的召开符合有关法律、行政法规、部 门规章、规范性文件和公司章程的规定。 二、监事会会议审议情况 （一）审议通过《关于公司 2025 年第三季度报告的议案》 具体内容详见公司同日在上海证券交易所网站（www.sse.com.cn）及指定信 息披露媒体披露的《江苏博迁新材料股份有限公司 2025 年第三季度报告》。 监事会 2025 年 10 月 28 日 江苏博迁新材料股份有 ...

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、董事会会议召开情况： 证券代码： 605376 证券简称：博迁新材 公告编号：2025-046 江苏博迁新材料股份有限公司 第三届董事会第二十一次会议决议公告 具体内容详见公司同日在上海证券交易所网站（www.sse.com.cn）及指定信 息披露媒体披露的《江苏博迁新材料股份有限公司 2025 年第三季度报告》。 表决结果：9 票赞成，0 票反对，0 票弃权。 特此公告。 江苏博迁新材料股份有限公司 董事会 2025 年 10 月 28 日 江苏博迁新材料股份有限公司(以下简称"公司")第三届董事会第二十一次 会议于 2025 年 10 月 27 日以通讯方式召开。本次会议于 2025 年 10 月 21 日以邮 件送达方式通知了全体董事。会议应出席董事 9 人，实际出席董事 9 人，公司监 事及高级管理人员列席了此次会议。会议由董事长王利平先生召集并主持，召集 和召开的程序符合《中华人民共和国公司法》及公司章程的规定。 二、董事会会议审议情况： （一）审议通过《关于 ...