Market Performance - On September 8, the metal new materials sector rose by 0.91%, with Srei New Materials leading the gains [1] - The Shanghai Composite Index closed at 3826.84, up 0.38%, while the Shenzhen Component Index closed at 12666.84, up 0.61% [1] Individual Stock Performance - Srei New Materials (688102) closed at 16.05, up 4.70% with a trading volume of 124,600 shares and a turnover of 197 million yuan [1] - Antai Technology (000969) closed at 14.02, up 4.01% with a trading volume of 420,300 shares and a turnover of 581 million yuan [1] - Other notable performers include Ni'an New Materials (688786) up 3.74%, Longda Co. (688231) up 3.55%, and Xinlaifu (301323) up 3.48% [1] Fund Flow Analysis - The metal new materials sector experienced a net outflow of 126 million yuan from institutional investors, while retail investors saw a net outflow of 48.28 million yuan [2] - Conversely, speculative funds recorded a net inflow of 174 million yuan [2] Detailed Fund Flow for Selected Stocks - Bowe Alloy (601137) had a net inflow of 44.49 million yuan from institutional investors, but a net outflow of 58.26 million yuan from retail investors [3] - New Laifu (301323) saw a net inflow of 15.07 million yuan from institutional investors and a net outflow of 23.11 million yuan from retail investors [3] - Srei New Materials (688102) had a net inflow of 4.31 million yuan from institutional investors, with a net outflow of 6.32 million yuan from retail investors [3]

Group 1: Company Performance Highlights - The report indicates that Meinian Health achieved a revenue of 4.1 billion yuan in H1 2025, with a year-on-year decline of 2.28%, and a net loss of 221 million yuan, which is an increase in loss by 2.59% year-on-year [4][6] - Zhongjian Technology reported a significant revenue increase of 59.46% year-on-year, reaching 464 million yuan in H1 2025, with a net profit growth of 99.15% [8][9] - Jinfat Technology's revenue for H1 2025 was 31.6 billion yuan, reflecting a 36% year-on-year increase, while net profit rose by 54% [15][16] Group 2: Strategic Initiatives and Innovations - Meinian Health is advancing its "All in AI" strategy, integrating AI technology into health management, generating 140 million yuan in revenue from AI-related services, a 62.36% increase year-on-year [6][7] - Zhongjian Technology is benefiting from the growing demand for high-performance carbon fiber in aerospace and high-end equipment, with a focus on expanding production capacity [8][11] - Jinfat Technology is leveraging new materials and innovative products to capture emerging market opportunities, with significant growth in its modified plastics and new materials segments [15][17] Group 3: Financial Projections and Ratings - Meinian Health's revenue projections for 2025-2027 are 10.4 billion, 11.4 billion, and 12.6 billion yuan, with net profits expected to grow significantly in the coming years [7] - Zhongjian Technology's revenue forecasts for 2025-2027 are 1.06 billion, 1.27 billion, and 1.59 billion yuan, with a "buy" rating maintained due to strong growth prospects [13] - Jinfat Technology anticipates revenues of 646 billion, 737 billion, and 828 billion yuan for 2025-2027, with a "buy" rating reflecting its leadership in the modified plastics industry [19]

二、董事会会议审议情况 经与会董事审议，做出以下决议： 审议通过《关于公司2024年度向特定对象发行A股股票相关授权的议案》 公司2024年度向特定对象发行A股股票事项已获得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）。为确保本次发行 的顺利进行，根据《中华人民共和国证券法》等相关法律、法规和规范性文件及《公司章程》的有关规 定，基于2024年第三次临时股东大会已审议通过的本次发行方案及授权，在公司本次向特定对象发行股 票过程中，如按照竞价程序簿记建档后确定的发行股数未达到认购邀请相关文件中拟发行股票数量的 70%，公司董事会授权董事长及董事长授权的指定人员经与主承销商协商一致，可以在不低于发行底价 的前提下，对簿记建档形成的发行价格进行调整，直至满足最终发行股数达到认购邀请文件中拟发行股 票数量的70%，公司和主承销商有权按照经公司董事长及董事长授权的指定人员调整后的发行价格向经 确定的发行对象按照相关配售原则进行配售。如果有效申购不足，可以决定是否启动追加认购、中止发 行等相关程序。授权有效期与董事会获得股东大会的授权有 ...

Group 1 - The company announced the approval of a proposal for the issuance of A-shares to specific targets for the year 2024 during the fourth meeting of the fourth board of directors [2]

Group 1 - The core point of the article is that Srey New Materials (SH 688102) announced a board meeting to discuss the authorization for issuing A-shares for specific targets in 2024 [1] - For the fiscal year 2024, Srey New Materials' revenue composition is as follows: non-ferrous metal smelting and rolling processing accounts for 85.86%, metal products account for 7.72%, and other businesses account for 6.42% [1] - As of the report date, Srey New Materials has a market capitalization of 11.2 billion yuan [1]

Group 1 - The board of directors of Shaanxi Srey New Materials Co., Ltd. held its fourth meeting on September 5, 2025, with all seven directors present, ensuring compliance with relevant laws and regulations [1][2] - The board approved the proposal for the company to issue A-shares to specific targets for the year 2024, having received the necessary approval from the China Securities Regulatory Commission [1] - The board authorized the chairman and designated personnel to adjust the issuance price if the number of shares issued does not meet 70% of the intended amount, ensuring the issuance process can proceed smoothly [1]

国泰海通证券股份有限公司 关于陕西斯瑞新材料股份有限公司 2025 年半年度持续督导跟踪报告 | 保荐机构名称：国泰海通证券股份有限公司 | 被保荐公司简称：斯瑞新材 | | --- | --- | | 保荐代表人姓名：林文亭、赵中堂 | 被保荐公司代码：688102 | 经中国证券监督管理委员会《关于同意陕西斯瑞新材料股份有限公司首次公 开发行股票注册的批复》（证监许可〔2022〕162 号）批复，陕西斯瑞新材料股 份有限公司（以下简称"上市公司"、"公司"或"发行人"）首次公开发行股 票 4,001.00 万股，每股面值人民币 1 元，每股发行价格人民币 10.48 元，募集资 金总额为人民币 41,930.48 万元，扣除发行费用后，实际募集资金净额为人民币 35,691.08 万元。本次发行证券已于 2022 年 3 月 16 日在上海证券交易所上市。 国泰海通证券股份有限公司（以下简称"保荐机构"或"国泰海通"）担任其持 续督导保荐机构，持续督导期间为 2022 年 3 月 16 日至 2025 年 12 月 31 日。 在 2025 年 1 月 1 日至 2025 年 6 月 30 日持续督导期内 ...

证券代码：688102 证券简称：斯瑞新材 公告编号：2025-045 本次会议的召集和召开程序符合《中华人民共和国公司法》《陕西斯瑞新材 料股份有限公司章程》等法律、法规和规范性文件的规定。 二、董事会会议审议情况 经与会董事审议，做出以下决议： 审议通过《关于公司 2024 年度向特定对象发行 A 股股票相关授权的议案》 陕西斯瑞新材料股份有限公司 第四届董事会第四次会议决议公告 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。 一、董事会会议的召开情况 陕西斯瑞新材料股份有限公司（以下简称"公司"）第四届董事会第四次会 议（以下简称"本次会议"或"会议"）于 2025 年 9 月 5 日（星期五）在公司 4 楼会议室以现场结合通讯的方式召开，会议通知已于 2025 年 9 月 4 日送达各位 董事。会议由董事长王文斌先生召集和主持，本次会议应出席董事 7 人，实际出 席董事 7 人（其中：通讯方式出席 4 人）。 公司 2024 年度向特定对象发行 A 股股票事项已获得中国证券监督管理委员 会出具的《关于同意陕西斯瑞新材 ...

Group 1 - The company achieved operating revenue of 772 million yuan in the first half of 2025, representing a year-on-year increase of 23.74%, and a net profit attributable to shareholders of 75 million yuan, up 33.61% year-on-year [1] - The company focused on advancing the application and industrialization of advanced copper alloy materials in sectors such as commercial aerospace, medical imaging equipment, artificial intelligence data centers, semiconductors, and controllable nuclear fusion [1] - Research and development expenses totaled 42.4 million yuan in the first half of 2025, an increase of 30.73% year-on-year, indicating a commitment to innovation and product development [1] Group 2 - The company is expanding production capacity in emerging downstream fields, with a total investment of 47.23 million yuan in the first phase of the liquid rocket engine thrust chamber materials project, which has a planned total investment of 230 million yuan [2] - New projects include the construction of a facility for producing 30,000 sets of medical imaging equipment and the initiation of a project for producing 20 million sets of optical module chip bases and housings [2] - The company adjusted its revenue forecasts for 2025-2027, expecting operating revenues of 1.562 billion, 1.902 billion, and 2.287 billion yuan, with corresponding net profits of 157 million, 191 million, and 278 million yuan, maintaining a "buy" rating due to continuous growth drivers [2]

Market Overview - On September 4, the metal new materials sector declined by 3.05%, with Jiangnan New Materials leading the drop [1] - The Shanghai Composite Index closed at 3765.88, down 1.25%, while the Shenzhen Component Index closed at 12118.7, down 2.83% [1] Individual Stock Performance - Jiangnan New Materials (603124) closed at 80.06, down 6.22% with a trading volume of 41,800 and a transaction value of 345 million [2] - Other notable declines include: - Jinli Permanent Magnet (300748) down 5.28% to 35.50 with a volume of 901,200 [2] - Sry New Materials (688102) down 5.21% to 14.92 with a volume of 166,100 [2] - Conversely, Huaitong New Materials (833751) increased by 2.36% to 22.13, with a trading volume of 39,700 [1] Capital Flow Analysis - The metal new materials sector experienced a net outflow of 942 million from institutional investors, while retail investors saw a net inflow of 907 million [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional selling and retail buying [2] Detailed Capital Flow for Selected Stocks - Bo Wei Tai Jin (601137) had a net inflow of 19.22 million from institutional investors, while retail investors contributed a net inflow of 20.77 million [3] - In contrast, Alloy Investment (000633) saw a net outflow of 2.29 million from institutional investors but a net inflow of 5.40 million from retail investors [3] - Overall, the capital flow data reflects varying investor confidence across different stocks within the sector [3]