证券代码：688102 证券简称：斯瑞新材 公告编号：2025-044 陕西斯瑞新材料股份有限公司 关于 2024 年度向特定对象发行 A 股股票申请获得 中国证券监督管理委员会同意注册批复的公告 本公司董事会及全体董事保证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。 陕西斯瑞新材料股份有限公司（以下简称"公司"）于近日收到中国证券监督管 理委员会出具的《关于同意陕西斯瑞新材料股份有限公司向特定对象发行股票注册的 批复》（证监许可〔2025〕1782 号）（以下简称"批复文件"），批复文件内容如下： "一、同意你公司向特定对象发行股票的注册申请。 二、你公司本次发行应严格按照报送上海证券交易所的申报文件和发行方案实施。 三、本批复自同意注册之日起 12 个月内有效。 四、自同意注册之日起至本次发行结束前，你公司如发生重大事项，应及时报告 上海证券交易所并按有关规定处理。" 公司董事会将按照上述批复文件和相关法律法规的要求以及公司股东会的授权， 在规定期限内办理本次向特定对象发行股票的相关事项，并及时履行信息披露义务， 敬请广大投资者注意投资风险。 ...

Core Insights - The stock price of Srey New Materials closed at 16.24 yuan on August 20, 2025, with a slight decrease of 0.01 yuan, representing a decline of 0.06% [1] - The company specializes in the research, production, and sales of high-performance copper alloy materials and products, which are widely used in sectors such as power electronics, rail transportation, and aerospace [1] - On August 19, Guangdong Province announced policies to promote high-quality development in commercial aerospace, including subsidies and tax incentives for infrastructure, which supports companies like Srey New Materials involved in rocket launch-related activities [1] - Srey New Materials has been included in the watchlist of several institutions due to its position in the commercial aerospace industry [1] - The company experienced a net outflow of main funds amounting to 6.8363 million yuan on the same day, with a cumulative net outflow of 77.3488 million yuan over the past five days [1]

Group 1 - The Guangdong Provincial Government has issued policies to promote high-quality development in commercial aerospace from 2025 to 2028, focusing on encouraging enterprises to develop core technologies in reusable liquid rocket engines [1] - The provincial government will provide up to 50% matching funding support for national major science and technology projects that meet specific conditions, and will implement a 100% pre-tax deduction policy for corporate R&D expenditures [1] - Liquid fuel rockets are becoming the mainstream choice for the next generation of reusable rockets due to their adjustable thrust, strong restart capability, and high system adaptability [1] Group 2 - Guotai Junan Securities indicates that the current insufficient rocket capacity in China is a core bottleneck for low Earth orbit satellite networking, and developing reusable rockets and liquid fuel technologies is key to enhancing capacity [1] - It is estimated that by 2030, an average of 64 rockets per year will be needed to meet the planned networking requirements, with the rocket market expected to reach a scale of 100 billion by 2030 [1] - CITIC Securities points out that several large-capacity private liquid rockets, such as Zhuque-3 from Blue Arrow Aerospace and Tianlong-3 from Tianbing Technology, are set to make their maiden flights in the second half of 2025, marking a breakthrough in the commercialization of private liquid rockets [1] Group 3 - Srey New Materials has initiated the construction of a project for the industrialization of materials, parts, and components for liquid rocket engine thrust chambers [2] - Taisheng Wind Power's rocket storage tank is a key pressure vessel used for storing liquid rocket propellants, including fuel and oxidizers, and is one of the core components of launch vehicles [2]

Group 1 - The company has been asked whether its high-strength copper alloy materials can also be used for producing high-speed connectors in addition to optical communication modules [2] - The company stated that its high-strength and high-conductivity copper alloy materials are primarily used by downstream strip manufacturing enterprises for high-end connector industries, covering sectors such as new energy vehicles, 5G communication, consumer electronics, and aerospace [2]

Market Overview - The metal new materials sector experienced a decline of 0.86% on August 12, with Srei New Materials leading the drop [1] - The Shanghai Composite Index closed at 3665.92, up 0.5%, while the Shenzhen Component Index closed at 11351.63, up 0.53% [1] Stock Performance - Notable gainers in the metal new materials sector included: - Bowei Taijin (601137) with a closing price of 22.18, up 10.02% and a trading volume of 1.0539 million shares, totaling 2.307 billion yuan [1] - Xinlaifu (301323) closed at 56.98, up 8.47% with a trading volume of 101,500 shares, totaling 578 million yuan [1] - Zhengke Materials (600255) closed at 4.19, up 4.23% with a trading volume of 2.9024 million shares, totaling 1.213 billion yuan [1] - Conversely, Srei New Materials (688102) saw a significant decline, closing at 16.19, down 5.32% with a trading volume of 308,100 shares, totaling 505 million yuan [2] - Other notable decliners included: - Ningbo Yunsheng (600366) down 4.60% to 14.31 with a trading volume of 2.0279 million shares, totaling 2.917 billion yuan [2] - Zhongke Sheng (301141) down 3.62% to 66.27 with a trading volume of 82,200 shares, totaling 545 million yuan [2] Capital Flow - The metal new materials sector saw a net outflow of 1.043 billion yuan from institutional investors, while retail investors contributed a net inflow of 934 million yuan [2] - The capital flow for specific stocks indicated: - Bowei Taijin had a net inflow of 107 million yuan from institutional investors, while retail investors had a net outflow of 15.72 million yuan [3] - Xinlaifu experienced a net inflow of 3.12 million yuan from retail investors, with a negligible net outflow from institutional investors [3]

Market Overview - On August 8, the metal new materials sector declined by 0.33% compared to the previous trading day, with Zhongke Magnetic leading the decline [1] - The Shanghai Composite Index closed at 3635.13, down 0.12%, while the Shenzhen Component Index closed at 11128.67, down 0.26% [1] Stock Performance - Notable gainers in the metal new materials sector included: - Ningbo Yunsheng (600366) with a closing price of 14.49, up 10.02% [1] - Sry New Materials (688102) at 16.55, up 8.31% [1] - Alloy Investment (000633) at 6.60, up 3.61% [1] - Major decliners included: - Zhongke Magnetic (301141) at 68.82, down 5.44% [2] - Chitong New Materials (300930) at 33.86, down 4.02% [2] - Platinum New Materials (300811) at 54.79, down 3.83% [2] Capital Flow - The metal new materials sector experienced a net outflow of 616 million yuan from institutional investors, while retail investors saw a net inflow of 732 million yuan [2][3] - Key stocks with significant capital flow included: - Ningbo Yunsheng (600366) with a net inflow of 229 million yuan from institutional investors [3] - Alloy Investment (000633) with a net inflow of 19.79 million yuan [3] - Sry New Materials (688102) with a net inflow of 11.07 million yuan [3]

Company Performance - Srei New Materials' stock price reached a historical high, increasing by 7.59% to 16.44 yuan, with a trading volume of 16.98 million shares and a transaction amount of 266 million yuan [2] - The company's latest A-share total market capitalization is 12.025 billion yuan, with the same amount for its circulating market capitalization [2] - The company reported a first-quarter revenue of 344 million yuan, representing a year-on-year growth of 19.79%, and a net profit of 32.33 million yuan, up 31.62% year-on-year, with basic earnings per share of 0.0446 yuan and a weighted average return on equity of 2.91% [2] Industry Overview - The non-ferrous metals industry, to which Srei New Materials belongs, has an overall increase of 1.32%, with 97 stocks rising, including notable performers like Ningbo Yunsheng and Hesheng Co., with increases of 10.02% and 7.24% respectively [2] - Among the 39 stocks that declined, Longda Co., Yitong New Materials, and Zhenghai Magnetic Materials saw the largest drops of 4.23%, 3.85%, and 2.74% respectively [2] Margin Trading Data - As of August 7, the margin trading balance for Srei New Materials was 290 million yuan, with a financing balance of the same amount, reflecting an increase of 16.74 million yuan over the past 10 days, a growth of 6.13% [2]

格隆汇7月31日丨斯瑞新材(688102.SH)在投资者互动平台表示，2023年，公司直接参与了投资蓝箭航 天，金额2000万元，股权比例较小。 ...

Group 1 - The company, Srey New Materials (688102.SH), has directly participated in an investment in Blue Arrow Aerospace in 2023, with an investment amount of 20 million yuan [1] - The equity stake acquired by the company in Blue Arrow Aerospace is relatively small [1]

Group 1 - The core viewpoint of the news is that Zhiyuan Investment has conducted research on a listed company, Srei New Materials, which is involved in multiple sectors including high and medium voltage electrical contact materials, shield machine supporting products, liquid rocket engine thrust chambers, medical CT fields, and optical module chip bases [1] - Srei New Materials holds over 60% market share in the domestic market for high voltage vacuum switch contact materials, primarily used in the power industry [1] - The company is developing high-strength copper retainers for ultra-large diameter shield machines, although this business segment contributes a relatively low revenue [1] - The liquid rocket engine thrust chamber project is expected to produce 200 tons of forgings annually and is currently progressing with registration submitted to the CSRC [1] - In the medical CT field, Srei New Materials collaborates with Siemens Healthineers, Wanruisi, and United Imaging Healthcare [1] - The company has initiated a project to produce 20 million sets of optical module chip bases/casings annually, focusing on low-cost mass production of diamond copper technology [1] Group 2 - Zhiyuan Investment, established in 2015 in Shenzhen Qianhai Free Trade Zone, has a professional investment research team and a comprehensive risk management system [2] - The firm aims to serve the development of China's real economy by connecting social capital with high-quality industries, focusing on asset allocation in companies aligned with development trends to achieve asset preservation and appreciation for clients [2]