智通财经APP讯， 斯瑞新材(688102.SH)发布2025年度业绩快报，报告期内，公司实现营业收入15.64亿 元，同比增长17.66%;实现归属于母公司所有者的净利润1.54亿元，同比增长35.04%。 报告期内，公司秉持"新材料引领未来"的使命，充分发挥核心竞争优势，持续推进技术创新和产业升 级。同时深化数字化转型升级，全面提升管理运营效率。面对下游需求持续增长的有利态势，公司主动 优化产业布局与产品结构，提升高附加值产品占比，带动收入和利润稳步增长。报告期内，公司完成向 特定对象发行A股股票，目前有序推进募投项目建设，募投项目产能逐步释放。同时，公司新的产业方 向开始放量增长，贡献效益增加。此外，欧元汇率上升对销售收入及汇兑收益产生积极影响。 ...

格隆汇2月24日丨斯瑞新材(688102.SH)公布2025年度业绩快报，报告期内，公司实现营业收入15.64亿 元，同比增长17.66%；实现归属于母公司所有者的净利润1.54亿元，同比增长35.04%；实现归属于母公 司所有者的扣除非经常性损益的净利润1.46亿元，同比增长41.26%。 上个马年沪指涨近60%！新年新福利来了，炒股排面要拉满，新号启幸运>> 报告期内，公司秉持"新材料引领未来"的使命，充分发挥核心竞争优势，持续推进技术创新和产业升 级。同时深化数字化转型升级，全面提升管理运营效率。面对下游需求持续增长的有利态势，公司主动 优化产业布局与产品结构，提升高附加值产品占比，带动收入和利润稳步增长。报告期内，公司完成向 特定对象发行A股股票，目前有序推进募投项目建设，募投项目产能逐步释放。同时，公司新的产业方 向开始放量增长，贡献效益增加。此外，欧元汇率上升对销售收入及汇兑收益产生积极影响。 ...

格隆汇2月24日丨斯瑞新材(688102.SH)公布2025年度业绩快报，报告期内，公司实现营业收入15.64亿 元，同比增长17.66%；实现归属于母公司所有者的净利润1.54亿元，同比增长35.04%；实现归属于母公 司所有者的扣除非经常性损益的净利润1.46亿元，同比增长41.26%。 报告期内，公司秉持"新材料引领未来"的使命，充分发挥核心竞争优势，持续推进技术创新和产业升 级。同时深化数字化转型升级，全面提升管理运营效率。面对下游需求持续增长的有利态势，公司主动 优化产业布局与产品结构，提升高附加值产品占比，带动收入和利润稳步增长。报告期内，公司完成向 特定对象发行A股股票，目前有序推进募投项目建设，募投项目产能逐步释放。同时，公司新的产业方 向开始放量增长，贡献效益增加。此外，欧元汇率上升对销售收入及汇兑收益产生积极影响。 ...

斯瑞新材发布业绩快报，2025年度实现营业总收入15.64亿元，同比增长17.66%；净利润1.54亿元，同 比增长35.04%。报告期内，公司秉持"新材料引领未来"的使命，充分发挥核心竞争优势，持续推进技术 创新和产业升级。同时深化数字化转型升级，全面提升管理运营效率。面对下游需求持续增长的有利态 势，公司主动优化产业布局与产品结构，提升高附加值产品占比，带动收入和利润稳步增长。 ...

Core Viewpoints - The mechanical industry is expected to embrace "technology + going global" as its dual main lines in 2026, focusing on high elasticity growth opportunities and performance certainty from overseas expansion [13][9][7] 2025 Review Market Performance - In 2025, the mechanical sector achieved a 41% increase, significantly outperforming the CSI 300 index, which rose by 18%, ranking fifth among A-share sub-industries [6][16] - The sub-sectors that performed well included PCB equipment (+252%), 3C equipment (+129%), controllable nuclear fusion (+119%), data centers (+112%), and humanoid robots (+85%) [20][6] Demand Side - Domestic demand showed signs of bottoming out, with a marginal improvement towards the end of 2025, while external demand began to recover positively [31][35] - The manufacturing PMI in December 2025 rebounded to 50.1, indicating a return to expansion territory, driven by large enterprises and high-tech manufacturing [32][35] Cost Side - The cost structure showed a continuous improvement trend, with PPI declining by 2.6% year-on-year in 2025, reflecting insufficient industrial demand [31][33] 2026 Outlook Macro Perspective - The macro narrative for the next five years is centered around "AI commercialization + global re-industrialization," with expectations of a cyclical recovery driven by proactive fiscal policies [6][7] Mid-level Perspective - Technology - The technology sector is expected to see explosive growth, with key areas including data centers, PCB equipment, semiconductor equipment, humanoid robots, and commercial aerospace [7][9] Mid-level Perspective - Going Global - The overseas production capacity is anticipated to enter a release phase in 2026, with significant revenue and profit growth expected for companies in the machinery and equipment sectors [7][8] Investment Recommendations - Investment strategies should focus on high-certainty directions with strong industry trends and competitive advantages, prioritizing stock selection based on industry trends, competitive positioning, and valuation [7][8] - Long-term investments should consider companies with platform capabilities that offer sustainable value [7][8]

Group 1 - Hailanxin (300065) is a core enterprise in the field of smart ocean and commercial aerospace measurement and control, with a contract amount of 458 million yuan for a project related to reusable rocket recovery [1][25] - Jieli Suoju (002342) is a leading company in the domestic rigging industry, providing intercept nets and ultra-high molecular weight polyethylene ropes for rocket recovery, with a single set of capture arms valued at 15-20 million yuan [2][26] - Chaojie Co., Ltd. (301005) specializes in precision structural components, supplying key components for rockets, with a single set valued at 25-30 million yuan and securing 30 orders for 2026-2028 [3][27] Group 2 - Taisheng Wind Power (300129) is a leader in wind power towers, providing structural components for rockets and planning to cover 60% of launch tasks by 2025 [4][28] - Zhongheng Design (603017) is a leading engineering design firm, providing design and construction services for rocket recovery bases, supporting industry landing [5][29] - Yitong Century (300310) focuses on communication technology services, providing communication support for rocket recovery processes [6][30] Group 3 - Aerospace Electronics (600879) is a leading company in aerospace electronics, providing landing leg actuators for reusable rockets, with a projected increase in value by 3-5 times after commercialization in 2026 [7][31] - Mengsheng Electronics (688331) specializes in satellite navigation systems, providing core navigation systems for reusable rockets, supporting centimeter-level positioning [8][32] - Sry New Materials (688102) is a leader in high-strength copper alloy materials, supplying core materials for rocket engines, ensuring stable operation for recovery [9][34] Group 4 - AVIC Optoelectronics (002179) is a leading company in aerospace connectors, ensuring reliable signal transmission for rocket recovery processes [10][35] - Guokai Military Industry (688543) provides solid engine power modules for rockets, which are critical components for recovery [11][36] - Parker New Materials (605123) specializes in aerospace forgings, supplying key components for rockets, ensuring structural stability for recovery [12][37] Group 5 - Hanyu Technology (688239) focuses on titanium alloy forgings for rockets, supporting stable engine operation for recovery [13][38] - Race Intelligent (002979) provides specialized motors for rocket engines, crucial for thrust adjustment during recovery [14][39] - Aerospace Universe (688523) specializes in composite materials, supporting lightweight structures for rockets [15][40] Group 6 - Guoguang Electric (688776) provides electrical equipment for rockets, supporting electrical control and signal transmission during recovery [16][41] - Aerospace Hongtu (688066) offers satellite remote sensing services, providing environmental monitoring for rocket recovery [17][42] - Chunzong Technology (603516) provides ground measurement and control equipment for rocket launches and recoveries [18][43] Group 7 - Aerospace Electromechanical (600151) supplies solar panels and power systems for rockets, supporting energy management during recovery [19][44] - Wuzhou Xinchun (603667) supplies bearings for recovery systems, with annual orders valued at 120-180 million yuan [20][45] - Aerospace Morning Light (600501) provides ground support systems for rocket recovery, ensuring efficient execution of recovery operations [21][46] Group 8 - Aerospace Technology (000901) specializes in measurement and control services for rockets, ensuring precise control during recovery [22][47] - Aerospace Power (600343) provides fluid components for rocket engines, ensuring reliable fluid control during recovery [23][48]

证券代码：688102 证券简称：斯瑞新材 公告编号：2026-008 二、本次限制行权期为 2026 年 2 月 15 日至 2026 年 2 月 24 日，在此期间全部激 励对象将限制行权。 三、公司将按照有关规定及时向中国证券登记结算有限责任公司上海分公司申请 办理限制行权相关事宜。 特此公告。 陕西斯瑞新材料股份有限公司董事会 陕西斯瑞新材料股份有限公司 关于 2023 年股票期权激励计划限制行权期间的 提示性公告 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。 根据《上市公司股权激励管理办法》《陕西斯瑞新材料股份有限公司 2023 年股票 期权激励计划（草案）》及中国证券登记结算有限责任公司上海分公司关于股票期权 自主行权的相关规定，结合陕西斯瑞新材料股份有限公司（以下简称"公司"） 2025 年度业绩快报披露计划，现对 2023 年股票期权激励计划限制行权时间公告如下： 一、公司处于行权期的股票期权激励计划情况如下： | 计划名称 | 行权期 | 行权代码 | | | 行权起止日期 | | | --- | --- ...

Core Insights - The quantum computing industry in China is experiencing significant growth driven by policy support and market demand, with a projected global market size of $5.037 billion in 2024, expected to surge to $219.978 billion by 2030, with 2027-2029 identified as critical growth years [1] Company Summaries Keda Guokong - Keda Guokong is a leader in quantum software, leveraging a three-pronged approach of technology development, capital investment, and practical application to engage deeply in the quantum computing industry [2] - The company has developed the "Jiuzhang" quantum programming framework, achieving 30% higher precision in quantum chemical simulations compared to IBM's Qiskit [2] - Keda Guokong has established partnerships with institutions like the University of Science and Technology of China to develop quantum error correction algorithms for superconducting quantum computers [2] GuoDun Quantum - GuoDun Quantum is recognized as a leading enterprise in the A-share quantum technology sector, projecting a net profit of 5 million yuan by 2025, marking a turnaround to profitability [3] - The company is involved in the development of the 105-qubit "Zu Chongzhi No. 3" and has successfully delivered a 200-qubit superconducting quantum computer [3] - GuoDun Quantum's revenue from quantum computing is expected to increase by 283.92% year-on-year by 2025 [3] Zhongke Shuguang - Zhongke Shuguang has made significant strides in quantum computing, with a projected 200% increase in quantum business revenue by 2025, becoming a core growth driver [4] - The company has developed a quantum operating system, "Quafu," which has been commercialized for remote sensing data processing, significantly improving efficiency [4] - Zhongke Shuguang has launched the world's first quantum-classical collaborative AI server, enhancing its hardware capabilities [4] Fuzheng Technology - Fuzheng Technology holds a leading position in the global quantum optics materials market, with over 70% market share in BBO and LBO crystals, essential for quantum entanglement photon pair production [5] - The company anticipates a 95% increase in net profit by 2025, with a gross margin rising to 48%, surpassing the industry average of 35% [5] - Fuzheng Technology is also extending its optical technology into the commercial rocket sector, creating a synergy between quantum and aerospace technologies [5] HwaCom Technology - HwaCom Technology is the only company globally producing quantum dot laser chips at scale, achieving over 98% purity and cost efficiency at 60% of international levels [5] - The company reported a 40.92% year-on-year increase in net profit, with quantum business revenue accounting for 25% of total revenue [5] - HwaCom's quantum dot laser chips are integral to the supply chains of major companies like Huawei and Microsoft, with an annual production capacity of 100,000 units [5] Sry New Materials - Sry New Materials is a key supplier of superconducting materials for quantum computing, with a projected 45% increase in net profit by 2025 [6] - The company produces niobium-titanium superconducting wire with a purity of 99.999%, crucial for superconducting quantum chips [7] - Sry New Materials has achieved over 90% domestic production rate for quantum superconducting materials, reducing reliance on imports [7] Industry Overview - The A-share quantum computing sector has established a comprehensive layout encompassing software leadership, hardware breakthroughs, and material support, with companies like Keda Guokong, GuoDun Quantum, and Fuzheng Technology contributing to a robust industrial foundation [1][3][5] - The industry is benefiting from a 30 billion yuan special R&D fund and the "14th Five-Year Plan," which emphasizes the commercial viability of quantum computing [1] - The integration of "supercomputing + quantum computing" and the expansion of quantum networking scenarios are expected to further drive the industry's growth [1]

Core Viewpoint - The company has adjusted the exercise price of its 2023 stock option incentive plan from 9.70 yuan per share to 9.66 yuan per share following the implementation of a profit distribution plan for the first three quarters of 2025 [2][19][22]. Group 1: Board Meeting Details - The fourth board meeting of the company was held on January 30, 2026, with all seven directors present, confirming compliance with relevant laws and regulations [1]. - The meeting approved the adjustment of the stock option exercise price as part of the incentive plan [2][4]. Group 2: Adjustment of Stock Option Plan - The adjustment of the exercise price is based on the company's profit distribution plan, which involves a cash dividend of 0.40 yuan per 10 shares, totaling approximately 30.93 million yuan [19][20]. - The adjustment aligns with the company's stock option incentive plan regulations, ensuring that the exercise price does not fall below the par value of the stock [21][22]. Group 3: Impact and Compliance - The adjustment is deemed not to have a substantial impact on the company's financial status or operational results, and it does not harm the interests of the company or its shareholders [22]. - The remuneration and assessment committee has unanimously approved the adjustment, confirming its compliance with relevant regulations [22].

Core Viewpoint - The company is actively addressing the impact of fluctuations in metal raw material prices by implementing technological upgrades, process optimization, and stringent cost management measures [1] Group 1 - The company will continue to enhance cost management to mitigate the effects of raw material price volatility on its operations [1] - There will be an increased investment in the research and development of high value-added products [1] - The company plans to utilize financial instruments such as futures and options to effectively manage the costs of key raw materials [1]