Industry Background - The innovative materials sector is a cornerstone for China's manufacturing transformation, evolving from strategic support to a key pillar of national competitiveness. By 2024, the industry scale is projected to exceed 60 trillion yuan, maintaining a 20% annual growth rate, making it the fastest-growing new materials market globally [2] - The "14th Five-Year Plan" identifies innovative materials as a core area of strategic emerging industries, with the release of the "Guidance Directory for the First Batch of Key New Materials Application Demonstration (2024 Edition)" covering 299 new materials, providing clear guidance for industry development [2] - The industry is entering a quality upgrade phase, with the localization rate of semiconductor materials increasing from 15% in 2020 to 25% in 2024, while lithium iron phosphate cathode materials in the new energy sector have reached a 95% localization rate, supporting companies like CATL and BYD with over 60% global market share [2] Market Status Analysis - The Chinese innovative materials market has formed a diversified tiered structure, with an overall scale reaching 60 trillion yuan in 2024 and expected to surpass 100 trillion yuan by 2025. Key growth areas include semiconductor materials (50% growth), new energy materials (52%), and biomedical materials (87%), while traditional structural materials grow steadily at 8-10% [4] - The regional distribution shows the Yangtze River Delta (45% share in semiconductor materials), the Pearl River Delta (leading in new energy materials), and the Beijing-Tianjin-Hebei region (cluster advantage in biomedical materials) [4] Competitive Landscape and Industry Chain Evolution - The industry concentration is accelerating, characterized by a dual-track model of "national teams leading + specialized private enterprises." China National Building Material Group has made breakthroughs in carbon fiber and silicon nitride ceramics, with R&D investment exceeding 10 billion yuan in 2023 [7] - The semiconductor materials sector has developed a "wafer factory + material factory" collaborative development model, while new energy materials show a "vehicle manufacturers + battery factories + material suppliers" integrated R&D approach [7] Policy Environment and Institutional Innovation - National strategic layouts provide strong support, with the Ministry of Industry and Information Technology outlining key development directions for frontier materials, including superconductors and graphene [9] - The establishment of a standard system that aligns with international standards is accelerating, with China National Building Material Group participating in the formulation of 52 ISO international standards [9] Future Forecast Analysis - The Chinese innovative materials market is expected to experience structural growth, reaching 100 trillion yuan by 2025 and exceeding 300 trillion yuan by 2030, with a CAGR of 18%. Growth drivers include deepening domestic substitution, technological iteration benefits, and the expansion of emerging applications [14] - The future five years will focus on four major technological breakthroughs: extreme performance, intelligent upgrades, green manufacturing, and cross-border integration [15] Investment Strategy Recommendations - Key investment areas include semiconductor materials, new energy materials, and biomedical materials, with a focus on technological breakthroughs and capacity releases [20]

Investment Rating - The report maintains an "Outperform" rating for the company [2] Core Views - The company is experiencing accelerated expansion in 300mm silicon wafer production, but its profitability is under pressure due to market conditions [5][7] - The company reported a total revenue of 802 million yuan in Q1 2025, reflecting a year-on-year growth of 10.6%, while the net profit attributable to the parent company was a loss of 209 million yuan [7] - The silicon wafer market is currently facing price pressures, leading to a significant decline in profitability and necessitating adjustments in revenue forecasts for 2025 and 2026 [7][8] Financial Data and Profit Forecast - Total revenue projections for 2025 are adjusted to 4,610 million yuan, with a year-on-year growth rate of 36.1% [6] - The company is expected to incur a net loss of 189 million yuan in 2025, with a gradual recovery anticipated in subsequent years [6][8] - The gross margin is projected to improve to 8.6% in 2025, following a challenging period with negative margins in previous years [6][8] Market Context - The global semiconductor silicon wafer market has entered a cyclical inventory adjustment phase, with a notable decline in shipment areas in recent years [7] - The company has achieved a 72% increase in 300mm silicon wafer sales in 2024, indicating strong demand despite market challenges [7] - The company has developed over 150 new products in the high-end silicon wafer segment, showcasing its competitive strength in the market [7]

QYResearch的观点和数据因被众多国内外知名企业、证券公司及媒体频繁引用与转载，而享有高度的 品牌知名度。其权威认证确保了所提供的行业分析及定制报告的可信度与专业度，是业界信赖的优选。 0 1 恒州博智的LED照明报告被深圳民爆光电公司中的年报引用 民爆光电（301362）2024年度管理层讨论与分析 据恒州博智发布的《2023年中国LED照明行业全景图谱》显示，2023年，全球LED防爆照明市场销售额达到 了49亿元，并预测在2028年将达到79亿元，期间的复合年增长率（CAGR）约为7.8%。这一增长可归因于 LED防爆灯在石油和采矿、军事基地、机场以及其他商业和工业领域的广泛应用，这些领域对于安全照明有着 极高的要求。 来源：证券之星 更多：https://stock.stockstar.com/RB2025040100020605.shtml 最新报告推荐：2025年全球及中国极端温度LED照明企业出海开展业务规划及策略研究报告 0 2 深圳思创策划咨询有限公司引用了恒州博智出版的外墙翻新服务市场分析报告 深圳建筑外立面改造项目可行性研究报告——市场分析 根据 QYR（恒州博智）的统计及预测，2 ...

Core Insights - The semiconductor materials ETF has shown a positive performance, with a recent increase of 0.21% in the index and notable gains in constituent stocks [2] - The ETF has achieved a significant annual net value increase of 29.99%, ranking in the top 11.23% among equity funds [3] - The top ten weighted stocks in the semiconductor materials index account for 60.82% of the total index weight, indicating concentrated performance among leading companies [4] Performance Metrics - The semiconductor materials ETF has seen a one-week cumulative increase of 0.74% and a year-to-date average daily trading volume of 15.98 million yuan [2] - The ETF's highest single-month return since inception was 20.35%, with an average monthly return of 10.90% and a historical one-year profit probability of 97.04% [3] - The electronic sector's holdings in public funds reached a historical high of 18.90% in Q1 2025, reflecting strong investor interest [3] Top Holdings - The top ten stocks in the semiconductor materials index include North Huachuang, Zhongwei Company, and Hushi Silicon Industry, with North Huachuang holding the highest weight at 16.44% [4][6] - The performance of these top stocks varies, with some experiencing slight increases while others, like Hushi Silicon Industry, have seen a decrease [6]

证券代码：688126 证券简称：沪硅产业 公告编号：2025-028 上海硅产业集团股份有限公司 关于召开 2024 年度暨 2025 年第一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： 上海硅产业集团股份有限公司（以下简称"公司"）将于 2025 年 04 月 24 日、 2025 年 04 月 26 日发布公司 2024 年度报告及 2025 年第一季度报告，为便于广 大投资者更全面深入地了解公司 2024 年度及 2025 年第一季度经营成果、财务状 况，公司计划于 2025 年 05 月 23 日 （星期五） 16:00-17:00 举行 2024 年度暨 2025 年第一季度业绩说明会，就投资者关心的问题进行交流。 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 2024 年度及 2025 年第 一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。 会议召开时间：2025 年 05 月 23 ...

证券代码：688126 证券简称：沪硅产业 公告编号：2025-026 上海硅产业集团股份有限公司 第二届监事会第十六次会议决议公告 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、准确性和完整性依法承担法律责任。 一、监事会会议召开情况 上海硅产业集团股份有限公司（以下简称"公司"）第二届监事会第十六次 会议于 2025 年 4 月 25 日以通讯方式召开。本次会议的通知于 2025 年 4 月 17 日以邮件方式送达全体监事。本次会议应出席监事 3 人，实际出席监事 3 人，会 议由监事会主席杨路先生主持。本次会议的召集和召开程序符合《公司法》等法 律法规及《公司章程》的规定，会议决议合法、有效。 二、监事会会议审议情况 本次会议由监事会主席杨路先生主持，经全体监事表决，形成决议如下： 1、审议通过《关于 2025 年第一季度报告的议案》。 监事会认为：公司 2025 年第一季度报告的编制和审核程序符合相关法律法 规、《公司章程》和公司管理制度的各项规定，能够公允地反映公司报告期内的 财务状况和经营成果，报告的内容真实、准确、完整，不存在任何虚假记载、 ...

证券代码：688126 证券简称：沪硅产业 公告编号：2025-025 第二届董事会第二十八次会议决议公告 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。 一、董事会会议召开情况 上海硅产业集团股份有限公司（以下简称"公司"）第二届董事会第二十八 次会议于 2025 年 4 月 25 日以通讯方式召开。本次会议的通知于 2025 年 4 月 17 日以邮件方式送达全体董事。本次会议应出席董事 9 人，实际出席董事 9 人，会 议由董事长俞跃辉先生主持。本次会议的召集和召开程序符合《公司法》等法律 法规及《公司章程》的规定，会议决议合法、有效。 二、董事会会议审议情况 本次会议由董事长俞跃辉先生主持，经全体董事表决，形成决议如下： 1、审议通过《关于 2025 年第一季度报告的议案》。 上海硅产业集团股份有限公司 具体内容详见公司同日披露于上海证券交易所网站（www.sse.com.cn）及指 定信息披露媒体上的《上海硅产业集团股份有限公司 2025 年第一季度报告》。 表决情况：9 票赞成，0 票反对，0 票弃权。 2、审 ...

证券代码：688126 证券简称：沪硅产业 公告编号：2025-027 上海硅产业集团股份有限公司 关于拟减持其他权益工具投资的公告 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。 重要内容提示： 一、交易概述 上海硅产业集团股份有限公司（以下简称"公司"）通过全资子公司NSIG Europe Holding S.à r.l.（以下简称"NSIG Europe"）的全资子公司NSIG Sunrise S.à.r.l.（以下简称"NSIG Sunrise"）持有法国上市公司Soitec S.A.（以下简称 "Soitec"，股票代码SOI.PA）的208.60万股股份，占Soitec总股本的5.84%。 公司于2025年4月25日召开第二届董事会第二十八次会议，审议通过了《关 于拟减持其他权益工具投资的议案》，基于公司经营发展战略，结合当前证券市 场状况并考虑经营、投资活动资金的实际需要，拟择机对持有的Soitec其他权益 工具投资进行减持，减持数量不超过1,086,008股（含本数）。若减持计划实施期 间Soitec发生派 ...

Core Insights - The company reported a revenue of 802 million yuan in Q1 2025, with a 16% year-on-year increase in revenue from 300mm semiconductor wafers and an 8% increase from 200mm and below wafers [1] - The company's performance exceeded the average growth in the global silicon wafer market, which saw a 5.7% increase in 300mm wafer shipments and a 2.9% decrease in 200mm wafer shipments [1] - Despite revenue recovery, operating profits were impacted by high fixed costs from expansion projects, inventory asset impairment losses, and sustained high R&D investments [1] R&D Investment - The company invested 79.3 million yuan in R&D in Q1 2025, a 29.24% increase year-on-year, representing 9.89% of its revenue [2] - This focus on R&D highlights the company's commitment to technological innovation and strengthening its core competencies, which is expected to support future growth [2] - The company has developed over 150 new products in the 300mm wafer category, with more than 60 specifications entering mass production [2] Production Capacity - The total production capacity for 300mm wafers has reached 650,000 pieces per month, maintaining a leading position in the domestic market [2] - The company has initiated capacity upgrade projects for 300mm wafers in Shanghai and Taiyuan, with the Taiyuan project completing a pilot line of 50,000 pieces per month [3] - The company aims to increase the production capacity of its high-end silicon-based materials to 160,000 pieces per year by 2025 [3] Market Outlook - According to WSTS, the global semiconductor market is projected to reach $697.1 billion in 2025, with an 11% year-on-year growth driven by high-end applications such as AI, automotive electronics, and industrial digitalization [4] - The integration and expansion of technology in high-end application areas are expected to continuously drive the company's innovation and growth potential [4]

一、主要会计数据和财务指标 | 报告期指标 | 2025年一季报 | 2024年一季报 | 本年比上年增减(%) | 2023年一季报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | -0.0760 | -0.0720 | -5.56 | 0.0380 | | 每股净资产（元） | 4.23 | 4.84 | -12.6 | 5.23 | | 每股公积金(元) | 2.56 | 2.56 | 0 | 2.55 | | 每股未分配利润(元) | 0.38 | 0.55 | -30.91 | 0.41 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 8.02 | 7.25 | 10.62 | 8.03 | | 净利润(亿元) | -2.09 | -1.98 | -5.56 | 1.05 | | 净资产收益率(%) | -1.74 | -1.39 | -25.18 | 0.73 | 数据四舍五入，查看更多财务数据>> 二、前10名无限售条件股东持股情况 前十大流通股东累计持有： 180897.55万股，累计占流通股比： 66 ...