Shareholder Reduction Plans - Junchen Technology's shareholder Junchen Partnership plans to reduce its stake by no more than 2.94% [1] - Wuchan Jinlun's shareholder Jinlun Holdings intends to reduce its stake by no more than 3% [1] - Haiguang Information's major shareholder Blue Ocean Lightboat Partnership plans to reduce its stake by no more than 0.50% [1] - Boyun New Materials' shareholder Gao Chuang Investment plans to reduce its stake by no more than 1% [1] - Green Alliance Technology's shareholder Cyber Security Fund plans to reduce its stake by no more than 3% [1] - Te Fa Service's shareholder Yinkun Company plans to reduce its stake by no more than 3% [1] - Mengcao Ecology's actual controller Wang Zhaoming plans to reduce his stake by no more than 2.3311% [1] - Huatu Shanding's shareholder Che Lu plans to reduce his stake by no more than 3% [1] - Heshun Electric's shareholder Shen Xin plans to reduce his stake by no more than 2.5% [1] - Ruihua Tai's shareholder Ju Yao Kun plans to reduce his stake by no more than 540,000 shares [1] - Luokai Co., Ltd.'s shareholders Luohui Investment, Luoteng Investment, and Luosheng Investment plan to reduce their total stake by 378,030 shares [1] - Zhongke Feice's shareholder Guotou Chuangye Fund plans to reduce its stake by 234,870 shares [1] - Tuo Jing Technology's shareholder National Integrated Circuit Fund has already reduced its stake by 297,760 shares [1] Other Significant Developments - *ST Biology has terminated its major asset restructuring plan [1] - *ST Biology's stock may face delisting [1]

瑞华泰(688323.SH)发布公告，泰巨尧坤拟通过集中竞价和大宗交易方式减持其所持有的公司股份数量 合计不超过540万股(不超过公司总股本比例3%)。 ...

| 证券代码：688323 | 证券简称：瑞华泰 | 公告编号：2026-004 | | --- | --- | --- | | 转债代码：118018 | 转债简称：瑞科转债 | | 深圳瑞华泰薄膜科技股份有限公司 股东减持股份计划公告 本公司董事会、全体董事及相关股东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： 股东持股的基本情况 截至本公告披露日，上海泰巨尧坤企业管理合伙企业(有限合伙）（以下简称 "泰巨尧坤"）持有深圳瑞华泰薄膜科技股份有限公司（以下简称"公司"） 17,616,612 股股份，占公司总股本的 9.7870%。以上股份为首次公开发行前取得 的股份，且已于 2024 年 4 月 29 日起解除限售并上市流通。公司部分董事、高级 管理人员及核心技术人员通过该持股平台间接持有公司股份。 减持计划的主要内容 泰巨尧坤拟通过集中竞价和大宗交易方式减持其所持有的公司股份数量合 计不超过 5,400,006 股（不超过公司总股本比例 3.0000%）。其中，通过集中竞价 方式减持的，减持股份总数合计不超过 1,80 ...

格隆汇1月22日丨瑞华泰(688323.SH)公布，泰巨尧坤拟通过集中竞价和大宗交易方式减持其所持有的公 司股份数量合计不超过 5,400,006 股（不超过公司总股本比例 3.0000%）。其中，通过集中竞价方式减 持的，减持股份总数合计不超过 1,800,002 股，通过大宗交易方式减持的，减持股份总数合计不超过 3,600,004 股。本次减持计划自本公告披露之日起15个交易日之后的3个月内实施。 ...

人民财讯1月22日电，瑞华泰(688323)1月22日公告，股东上海泰巨尧坤企业管理合伙企业(有限合伙)持 有公司9.787%股份，拟通过集中竞价和大宗交易方式减持其所持有的公司股份数量合计不超过540万股 (不超过公司总股本比例3%)。 ...

每经AI快讯，1月22日，瑞华泰公告，上海泰巨尧坤企业管理合伙企业(有限合伙)(简称"泰巨尧坤")持有 公司17,616,612股股份，占公司总股本的9.7870%，计划通过集中竞价和大宗交易方式减持其持有的公 司股份合计不超过540.0006万股，即不超过公司总股本的3.00%。其中，集中竞价减持不超过180.0002 万股，大宗交易减持不超过360.0004万股。本次减持计划自公告披露之日起15个交易日之后的3个月内 实施，减持原因为股东自身资金需求。减持价格将按市场价格确定，若公司发生派息、送股等除权除息 事项，减持计划将相应调整。 ...

瑞华泰公告称，截至公告披露日，股东泰巨尧坤持有公司1761.66万股，占总股本9.7870%，股份已于 2024年解禁流通。泰巨尧坤拟通过集中竞价和大宗交易方式，合计减持不超540.00万股，即不超总股本 3%，其中集中竞价不超180.00万股、大宗交易不超360.00万股。减持期间为2026年2月13日至5月12日， 减持原因是自身资金需求。 ...

Investment Rating - The report does not explicitly state an investment rating for the industry. Core Insights - The demand for satellite internet networking is urgent, and space computing opens new growth opportunities. The construction of satellite internet networks is driven by strong demand due to the advantages of wide coverage, strong disaster resistance, and rapid deployment. The International Telecommunication Union (ITU) has established principles for satellite frequency and orbit usage, leading to a competitive race for low Earth orbit resources. The construction and launch of satellite constellations in China are accelerating, with a significant gap compared to the US [4][16]. - Space computing is leading to increased demand for satellites. The traditional model of "ground computing" is evolving to "space computing," with satellites equipped with AI chips and edge computing modules to process data in orbit, significantly reducing transmission delays and processing times. Major companies are investing in space computing infrastructure, which is expected to drive the demand for satellites [17][19]. - Solar wings are the only efficient and long-term energy supply solution for near-Earth commercial space. Solar wings account for approximately 12%-24% of the satellite's value, and their area is continuously increasing, which enhances the overall power supply capacity of satellites. The transition from rigid to flexible solar wings is a key trend, with different technological routes being adopted in China and the US [4][28][38]. Summary by Sections Satellite Internet Networking - The urgent need for satellite internet networking is driven by the rapid release of rigid application demands in communication, navigation, and remote sensing. The construction of satellite internet networks is becoming increasingly critical due to limited low Earth orbit resources and the competitive landscape [11][16]. - The ITU's "first come, first served" principle has intensified the competition for satellite orbital resources, with China lagging in the completion rate of its satellite constellations compared to the US [16][18]. Space Computing - Space computing is transforming satellite demand by embedding AI capabilities into satellite systems, allowing for in-orbit data processing and reducing the need for ground-based data transmission. This shift is expected to significantly enhance the capabilities and applications of satellites [19][22]. Solar Wings - Solar wings are essential for providing continuous power to satellites, with their value accounting for a significant portion of the satellite's overall worth. The area of solar wings is increasing, which is expected to enhance the power supply capabilities of satellites [28][30]. - The transition from rigid to flexible solar wings allows for greater power generation efficiency and is particularly suited for high-power and multi-satellite launch scenarios. The flexible solar wings can achieve a higher power-to-weight ratio and better space utilization [38][45]. Technology Routes - There are notable differences in the solar wing battery technology routes between China and the US. The US primarily uses silicon solar cells due to their lower costs and established supply chains, while China is exploring gallium arsenide cells for their higher power-to-weight ratios and efficiency [51][62]. - Gallium arsenide cells are being actively explored for cost reduction, and perovskite cells are emerging as a potential next-generation solution for solar wings due to their low cost and high efficiency [65][69].

Core Viewpoint - The company has been exporting products to certain EU member states, although the export proportion is relatively small [1] Group 1: Export and Sales Information - The company meets the high-quality requirements of well-known international enterprises such as Siemens, Avery Dennison, and others [1] - The revenue from the EU market constitutes a minor portion of the company's overall operating income [1] - Sales to the EU market are primarily conducted through direct exports from domestic entities, rather than through subsidiaries or third-party traders [1]

Group 1: Commercial Aerospace Industry Overview - The commercial aerospace industry is entering a period of explosive growth, driven by significant advancements in low Earth orbit satellite constellations and launch capabilities [1][2] - China plans to launch 12,992 commercial satellites to create a global internet satellite constellation, with ongoing development of high-capacity rockets and completion of launch facilities in Hainan [2][4] - By 2027, the commercial aerospace industry is expected to achieve high-quality development, with enhanced innovation and resource utilization, as outlined in the National Space Administration's action plan [4] Group 2: Demand for Commercial Satellites and Rocket Technology - The demand for commercial satellites is increasing, leading to rapid development in the liquid rocket engine sector, which is the mainstream technology for reusable rockets [6][7] - The global electronic specialty gas market is projected to reach $6.023 billion by 2025, with a CAGR of 6.39% from 2022 to 2025, while China's electronic specialty gas market is expected to reach 23 billion yuan by 2024, with a CAGR of 10.31% [8][10] Group 3: Advanced Materials in Aerospace - The carbon fiber industry is experiencing structural differentiation, with high-performance carbon fibers in demand for aerospace applications, although domestic supply capabilities for high-end products remain insufficient [13][14] - Advanced structural ceramics and composites are critical materials in aerospace, with ongoing improvements in technology and innovation needed to close the gap with developed countries [15][16] - The market for quartz glass fibers and composites is expanding, driven by their essential role in aerospace and semiconductor industries [19] Group 4: Key Functional Materials for Commercial Aerospace - PI films are crucial for aerospace applications due to their excellent thermal stability and radiation resistance, with products already supplied to China's rocket technology research institute [21][22] - LCP materials are gaining traction in high-frequency communication and signal transmission industries, with significant production capabilities established by companies like Prilite [23][24] - Specialty plastics and thermal protection materials are essential for ensuring the reliability and performance of aerospace components [25][26]