Group 1 - Company Zhonggang Luonai announced that core technical personnel Wang Gang resigned for personal reasons, and this will not have a significant adverse impact on the company's operations, technology development, or core competitiveness [1] - The revenue composition for Zhonggang Luonai from January to June 2025 shows that refractory materials account for 97.16% of total revenue, while other businesses account for 2.84% [1] - The current market capitalization of Zhonggang Luonai is 4.8 billion yuan [2]

中信建投证券股份有限公司 关于中钢洛耐科技股份有限公司 核心技术人员离职的核查意见 中信建投证券股份有限公司（以下简称"中信建投证券"或"保荐机构"） 作为中钢洛耐科技股份有限公司（以下简称"公司"或"中钢洛耐"）首次公开 发行股票并在科创板上市的保荐机构，根据《证券发行上市保荐业务管理办法》、 《上海证券交易所科创板股票上市规则》、《上海证券交易所科创板上市公司自律 监管指引第 1 号——规范运作》等有关规定，对中钢洛耐核心技术人员离职事项 进行了核查，核查情况如下： 一、王刚先生辞职的具体情况 公司原核心技术人员王刚先生因个人原因向公司提出辞职申请，并已完成工 作交接。辞职后，王刚先生不再担任公司及子公司任何职务。公司及董事会对王 刚先生任职期间为公司发展所做出的贡献表示衷心感谢。 （一）王刚先生的具体情况 王刚先生，1972 年出生，中国国籍，无境外永久居留权，中国科学院上海硅 酸研究所材料学毕业，博士研究生学历，正高级工程师，享受国务院政府特殊津 贴，硕士生导师。2004 年至今，曾任公司全资子公司中钢集团洛阳耐火材料研究 院有限公司研发项目经理、研发中心主任、首席专家、总经理等职务，为公司核 心技术 ...

证券代码：688119 证券简称：中钢洛耐 公告编号：2025-040 中钢洛耐科技股份有限公司 关于核心技术人员离职的公告 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、准确性和完整性依法承担法律责任。 重要风险提示： 中钢洛耐科技股份有限公司（以下简称"公司"）原核心技术人员王刚 先生因个人原因辞去公司职务，辞职后其在公司及子公司将不再担任任何职务。 王刚先生与公司签署了保密及竞业限制相关协议，负有相应的保密及竞 业限制义务，不存在涉及职务成果、知识产权的纠纷或潜在纠纷，其离职不影响 公司知识产权的完整性。 截至本公告披露日，公司的技术研发工作正常进行，本次核心技术人员 的离职不会对公司技术研发、核心竞争力和持续经营能力产生实质性影响，不会 影响公司现有核心技术及研发项目的工作开展。 一、王刚先生辞职的具体情况 公司原核心技术人员王刚先生因个人原因向公司提出辞职申请，并已完成 工作交接。辞职后，王刚先生不再担任公司及子公司任何职务。公司及董事会 对王刚先生任职期间为公司发展所做出的贡献表示衷心感谢。 为公司核心技术人员之一。 截至本公告披露日，王刚先 ...

Group 1 - The core viewpoint of the article is that the resignation of Wang Gang, a key technical personnel at Zhonggang Luonai, has been verified and does not impact the company's research and development progress [1] - Wang Gang resigned for personal reasons and has completed the work handover, no longer holding any positions in the company or its subsidiaries [1] - The projects Wang Gang participated in have been handed over, and the intellectual property rights belong to the company without any disputes [1] Group 2 - Wang Gang signed confidentiality and non-compete agreements, and no violations have been found [1] - As of June 30, 2025, the company has 318 research and development personnel, accounting for 12.17% of the total workforce [1]

Market Overview - On September 24, the renovation and building materials sector rose by 0.45% compared to the previous trading day, with Kailun Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3853.64, up 0.83%, while the Shenzhen Component Index closed at 13356.14, up 1.8% [1] Stock Performance - Kailun Co., Ltd. (300715) closed at 12.74, with an increase of 8.70% and a trading volume of 168,700 shares, amounting to 212 million yuan [1] - Zhongqi New Materials (001212) closed at 60.65, up 6.22%, with a trading volume of 228,200 shares and a turnover of 1.378 billion yuan [1] - Youbang Ceiling (002718) closed at 26.93, increasing by 4.18%, with a trading volume of 59,100 shares and a turnover of 158 million yuan [1] - Other notable stocks include Zhonggang Luonai (688119) with a 3.83% increase and a closing price of 4.34, and Keshin New Materials (833580) with a 3.64% increase and a closing price of 17.39 [1] Capital Flow - The renovation and building materials sector saw a net inflow of 188 million yuan from main funds, while retail funds experienced a net outflow of 99.76 million yuan and 88.26 million yuan respectively [2] - The capital flow data indicates that Zhongqi New Materials had a main fund net inflow of 175.16 million yuan, while retail funds saw a net outflow of 69.37 million yuan [3] - Other companies like Beixin Building Materials (000786) and Wanshi Stone (002785) also experienced varying levels of net inflow and outflow from main and retail funds [3]

Group 1 - The core viewpoint of the news is that Zhonggang Luonai's stock performance and financing activities indicate a high level of investor interest, despite a decrease in revenue [1][2] - As of September 22, Zhonggang Luonai's stock price fell by 0.70%, with a trading volume of 34.51 million yuan, and a net financing outflow of 3.08 million yuan [1] - The company's financing balance reached 88.49 million yuan, accounting for 1.85% of its market capitalization, which is above the 90th percentile of the past year [1] Group 2 - As of June 30, the number of shareholders for Zhonggang Luonai increased by 9.24% to 17,000, with an average of 66,052 circulating shares per person, up by 80.20% [2] - For the first half of 2025, Zhonggang Luonai reported a revenue of 1.01 billion yuan, a year-on-year decrease of 10.49%, while the net profit attributable to shareholders increased by 686.67% to 32.62 million yuan [2] - The company has distributed a total of 171 million yuan in dividends since its A-share listing [3]

Investment Rating - The industry investment rating is maintained as "Outperform" [3] Core Insights - The semiconductor packaging and testing industry is experiencing significant growth driven by AI and advanced packaging technologies, with major players focusing on creating one-stop solutions for packaging and testing [1][5] - Key companies such as Jiayuan Electronics and Weicai Technology are increasing their capital expenditures and expanding high-end testing capacities, reflecting strong demand across various applications [2][5] - The overall gross margin for the domestic packaging sector has shown a notable increase, with leading companies like Huada Technology and Liyang achieving higher margins compared to the industry average [11][12] Summary by Sections Overview - The gross margin for the semiconductor packaging sector has significantly improved, reaching 21.44% in Q2 2025, which is higher than the average for previous quarters [11][12] OSAT (Outsourced Semiconductor Assembly and Test) - Daylight Technology's advanced packaging revenue has surpassed 10% of its total, with a recovery in general business observed [17] - Anke Technology reported a revenue of 10.779 billion RMB in Q2 2025, with a 14.3% quarter-on-quarter growth, driven by strong demand in various markets [30][31] - Powertech Technology's revenue reached 4.226 billion RMB in Q2 2025, reflecting a 16.56% quarter-on-quarter increase [39] Testing - Jiayuan Electronics has significantly increased its capital expenditure, with a 149.64% quarter-on-quarter growth in Q2 2025 [2][3] - Weicai Technology has seen strong revenue and profit growth in H1 2025, driven by the increasing demand for high-end testing services [5][20] Equipment - AI continues to be the main driver for industry growth, with strong demand for TCB, hybrid bonding, and SoC testing equipment [5][21] - ASMPT reported a 50% year-on-year increase in TCB equipment orders in H1 2025 [5][23] Market Trends - The smartphone market is experiencing regional differentiation, with strong growth in specific areas such as the Middle East and Africa [6][28] - The automotive sector is showing positive trends, particularly in the new energy vehicle segment, while traditional fuel vehicles are stabilizing [6][32] Investment Recommendations - The report suggests focusing on key players in packaging, testing, and equipment sectors, including Daylight Technology, Tongfu Microelectronics, and ASMPT, among others [5][34]

Group 1: 恒瑞医药 - Company received approval for clinical trials of HRS-7172 tablets, a new anti-tumor small molecule inhibitor [1] - Subsidiary received approval for SHR-A2009, an antibody-drug conjugate targeting HER3 [1] - Company was established in April 1997, focusing on drug research, production, and sales [1] Group 2: 康德莱 - Controlling shareholder plans to transfer 5% of shares to strategic investor at a price of 10.81 yuan per share, totaling 236 million yuan [1] - Post-transfer, controlling shareholder's stake will decrease from 39.58% to 34.58% [1] - Company was established in July 1998, specializing in medical devices [2] Group 3: 中钢洛耐 - Shareholder plans to reduce holdings by up to 1% of total shares due to fund exit needs [3] - Company was established in August 2006, focusing on high-end refractory materials [3] Group 4: 瑞玛精密 - Subsidiary completed acquisition of land in Mexico for production operations, covering 52,300 square meters at a price of 3.4064 million USD [4] - Company was established in March 2012, specializing in precision metal stamping and related products [4] Group 5: 鸿博股份 - Company confirmed normal operations despite stock price fluctuations exceeding 20% over three trading days [5] - Company was established in June 1999, focusing on lottery services and high-end packaging [6] Group 6: 东芯股份 - Company completed stock trading risk investigation and resumed trading [7] - Company was established in November 2014, specializing in storage chip design and sales [7] Group 7: 凯迪股份 - Company stated that its robot products are still in development and will not generate revenue in the short term [8] - Company was established in August 1992, focusing on linear drive systems [8] Group 8: 诺唯赞 - Major shareholder plans to reduce holdings by up to 3% due to funding needs [9] - Company was established in March 2012, focusing on functional proteins and organic materials [9] Group 9: 君实生物 - Company received approval for clinical trials of JT118 injection, a "two-in-one" recombinant protein vaccine for monkeypox [10] - Company was established in December 2012, focusing on new drug research and related services [10] Group 10: 赛力斯 - Company reported August sales of 45,818 vehicles, with a 19.57% increase in new energy vehicle sales [11] - Company was established in September 2012, focusing on automotive research and sales [11] Group 11: 燕东微 - Major shareholder plans to reduce holdings by up to 1% due to management needs [13] - Company was established in October 1987, focusing on semiconductor products and services [13] Group 12: 中百集团 - Company reported cumulative litigation and arbitration amounts of approximately 262 million yuan over the past 12 months [14] - Company was established in January 1990, focusing on retail business [14] Group 13: 金开新能 - Company received 939 million yuan in renewable energy subsidies, with a 341.67% increase year-on-year [15] - Company was established in March 1997, focusing on renewable energy development and operation [15] Group 14: *ST天茂 - Company plans to terminate stock listing and initiate cash option mechanism for shareholders [16] - Company was established in November 1993, focusing on various insurance services [16] Group 15: 宁德时代 - Company repurchased 8.69 million A-shares for a total of 2.131 billion yuan [17] - Company was established in December 2011, focusing on battery research and production [17] Group 16: 山西高速 - Controlling shareholder plans to increase holdings by 30 to 60 million yuan [18] - Company was established in February 1996, focusing on highway management [18] Group 17: 青岛银行 - Major shareholder plans to increase holdings by 233 to 291 million shares [19] - Company was established in November 1996, focusing on banking services [19] Group 18: 格力电器 - Major shareholder completed share increase of 46.38 million shares for 2.099 billion yuan [20] - Company was established in December 1989, focusing on air conditioning production and sales [20] Group 19: 中国石油 - Company plans to transfer 541 million A-shares to China Mobile Group to enhance strategic cooperation [21] - Company was established in November 1999, focusing on oil and gas exploration and production [21] Group 20: 镇洋发展 - Company announced a merger plan with Zhejiang Huhangyong Highway Co., with a share exchange ratio of 1:1.08 [22] - Company was established in December 2004, focusing on chemical products [22]

Group 1 - The core point of the news is that Zhonggang Luonai (688119) has seen a net financing inflow of 37.87 million yuan on September 2, 2025, with a total financing balance of 86.51 million yuan, indicating positive investor sentiment [1][2][3] - In the last three trading days, the cumulative net financing inflow reached 627.8 million yuan, and out of the last 20 trading days, there were 13 days with net financing inflows, suggesting a consistent interest from investors [1][2] - The financing balance increased by 0.44% compared to the previous day, reflecting a growing confidence in the stock [3] Group 2 - The financing net inflow on September 1, 2025, was 269.28 million yuan, and on August 29, it was 320.65 million yuan, showing a trend of increasing net inflows leading up to September 2 [2][3] - The financing balance on August 27, 2025, was 76.80 million yuan, which indicates a significant recovery from a previous decline of 422.61 million yuan on that day [3] - The financing balance as of September 2, 2025, represents 1.75% of the circulating market value, which is a positive indicator for the stock's liquidity [2]

Shareholder Reductions - Yandong Micro's shareholder Yizhuang Guotou plans to reduce its stake by no more than 1% [1] - Delong Laser's shareholders Beijing Woyan and its concerted parties have cumulatively reduced their stake by 3% [1] - Zhonggang Luonai's shareholder Guoxin Shuangbai No. 1 intends to reduce its stake by no more than 1% [1] - Feilida's controlling shareholders completed a cumulative reduction of 2.39% [1] - Nanjing Chemical Fiber's mixed reform fund has reduced its stake by 1.4379% through block trading [1] - Xuelong Group's actual controller He Cailin has cumulatively reduced his stake by 1.12% [1] - Other companies such as Pulutong, Yuyin Technology, and others have also reported shareholder reductions ranging from 0.8766% to 3% [1] Company Operations - Dexin Technology does not directly produce solid-state batteries [1] - Kaidi Co.'s robotics-related business has not yet generated revenue [1]