Core Viewpoint - The company has confirmed that it is actively developing applications for 3D printed copper and copper alloy powders in electronic product cooling components, responding to market interest in copper-based liquid cooling plates showcased at a recent exhibition [2] Group 1 - An investor inquired about the company's preparations for copper-based liquid cooling plates, which were recently displayed by equipment manufacturers at an exhibition in Shenzhen [2] - The company stated that its downstream customers are already engaged in development work for electronic product cooling components using 3D printed copper and copper alloy powders, indicating ongoing progress in this area [2]

一、 召开会议的基本情况 （一） 股东会类型和届次 2025年第三次临时股东会 证券代码：688456 证券简称：有研粉材 公告编号：2025-036 有研粉末新材料股份有限公司 关于召开2025年第三次临时股东会的通知 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。 重要内容提示： （二） 股东会召集人：董事会 （三） 投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合 的方式 （四） 现场会议召开的日期、时间和地点 召开日期时间：2025 年 9 月 15 日 14 点 30 分 召开地点：北京市怀柔区雁栖经济开发区雁栖路 3 号 1 幢有研粉材二层会 议室 （五） 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 9 月 15 日 至2025 年 9 月 15 日 股东会召开日期：2025年9月15日 本次股东会采用的网络投票系统：上海证券交易所股东大会网络投票系 统 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 ...

有研粉末新材料股份有限公司 2025 年第三次临时股东会 会议资料 2025 年 9 月 15 日 2025 年第三次临时股东会文件 目录 | 2025 年第三次临时股东会会议议程 | | | | | 2 | | --- | --- | --- | --- | --- | --- | | 2025 年第三次股东会会议须知 | | | | | | | 议案一：关于追加 | 年度财务预算的议案 | 2025 | | | | | 议案二：关于公司董事长 | 2024 年度绩效薪酬的议案 | | | | 4 7 10 | 1 2025 年第三次临时股东会文件 （三）主持人宣布现场参会股东、委托代表出席及所持股份情 况，及其他现场参会人员情况； （四）主持人宣读股东会会议须知； 2025 年第三次临时股东会会议议程 一、会议时间：2025 年 9 月 15 日（星期五）下午 14:30 二、会议地点：北京市怀柔区雁栖经济开发区雁栖路 3 号 1 幢 有研粉材二层会议室 三、投票方式：现场投票和网络投票相结合的方式 四、网络投票系统：上海证券交易所股东大会网络投票系统， 通过交易系统投票平台的投票时间为 2025 年 9 ...

格隆汇8月27日丨有研粉材(688456.SH)发布中报，2025上半年实现营业总收入17.9亿元，同比增长 18.29%；归属母公司股东净利润3576万元，同比增长21.68%；基本每股收益为0.34元。 ...

有研粉末新材料股份有限公司2025 年半年度报告 公司代码：688456 公司简称：有研粉材 1 / 180 有研粉末新材料股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确 性、完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 重大风险提示 公司已在本报告中描述了存在的风险事项，敬请查阅第三节"管理层讨论与分析"中详述公司 可能面对的风险因素及对策部分的内容。 三、 公司全体董事出席董事会会议。 四、 本半年度报告未经审计。 五、 公司负责人贺会军、主管会计工作负责人姜珊及会计机构负责人（会计主管人员）王洵声 明：保证半年度报告中财务报告的真实、准确、完整。 有研粉末新材料股份有限公司 2025 年半年度报告 六、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 七、 是否存在公司治理特殊安排等重要事项 □适用 √不适用 八、 前瞻性陈述的风险声明 √适用 □不适用 本报告中涉及的公司业务发展等前瞻性陈述，不构成公司对投资者的实质承诺，敬请投资者注 意投资风险。 九、 是否存在被控股 ...

Group 1 - The company's operating revenue for the first half of 2025 reached 1.79 billion yuan, representing a year-on-year growth of 18.29% [1] - The net profit amounted to 35.76 million yuan, showing a year-on-year increase of 21.68% [1] - Basic earnings per share were 0.34 yuan, reflecting a year-on-year growth of 21.43% [1]

截至3月31日，有研粉材股东户数5556.00，较上期增加5.95%；人均流通股18657股，较上期减少 5.62%。2025年1月-3月，有研粉材实现营业收入7.96亿元，同比增长20.34%；归母净利润1033.68万元， 同比增长5.71%。 分红方面，有研粉材A股上市后累计派现1.03亿元。近三年，累计派现6219.60万元。 8月26日，有研粉材跌2.40%，成交额1.41亿元。两融数据显示，当日有研粉材获融资买入额2283.28万 元，融资偿还2501.84万元，融资净买入-218.57万元。截至8月26日，有研粉材融资融券余额合计2.11亿 元。 融资方面，有研粉材当日融资买入2283.28万元。当前融资余额2.11亿元，占流通市值的4.09%，融资余 额超过近一年70%分位水平，处于较高位。 融券方面，有研粉材8月26日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00元； 融券余量0.00股，融券余额0.00元，超过近一年90%分位水平，处于高位。 资料显示，有研粉末新材料股份有限公司位于北京市怀柔区雁栖经济开发区雁栖路3号1幢，成立日期 2004年3月4日，上市日期 ...

Core Viewpoint - The powder high-speed steel market is expanding due to increasing demand in high-end manufacturing sectors such as aerospace and automotive, with the market size in China projected to reach 3.9 billion yuan in 2024, a year-on-year increase of 4% [1][12]. Industry Overview - Powder high-speed steel is produced using powder metallurgy technology, which offers significant advantages over traditional casting methods, such as uniform distribution of carbide particles, leading to improved strength, toughness, and hardness [2][4]. - The production process involves high-pressure inert gas or water atomization to create fine, uniform steel powder, which is then shaped and sintered [2]. Industry Development History - The powder high-speed steel industry has evolved over decades, with the first generation emerging in the 1960s. The introduction of new technologies in the 1990s significantly reduced impurity levels, leading to the second generation, while the third generation, post-2000, features finer steel powder and further improved properties [6][10]. Industry Chain - The upstream materials for powder high-speed steel include hard alloy steel powder, carbon steel, tungsten, molybdenum, chromium, vanadium, and cobalt. The midstream involves the production of powder high-speed steel, while the downstream applications span mechanical processing, automotive, aerospace, and mold manufacturing [8]. Current Industry Status - Domestic production of powder high-speed steel has increased significantly, with a production volume of 15,600 tons in 2018, projected to grow to 19,500 tons by 2024, reflecting a compound annual growth rate of 3.8% [10][12]. Competitive Landscape - International companies like Sandvik, Erasteel, Toshiba Materials, and Kennametal dominate the high-end market, while domestic leaders like Tiangong International are making strides in mid-to-high-end market segments through technological advancements [14]. Key Companies - Tiangong International, established in 1981, is a leading manufacturer of high-speed steel and cutting tools, with a revenue of 4.832 billion yuan in the 2024 fiscal year, a decrease of 6.42% year-on-year [16]. - HeYe Technology, a subsidiary of Antai Technology, specializes in high-speed tool steel and has a broad market presence across various industrial sectors [18]. Industry Trends - Continuous technological innovation is expected to enhance the performance of powder high-speed steel, with a focus on optimizing alloy compositions and improving sintering processes [20]. - The market is becoming increasingly competitive, necessitating domestic companies to strengthen their technological capabilities and brand positioning [21]. - The industry is also moving towards green transformation, with companies adopting energy-efficient production methods and cleaner technologies to reduce environmental impact [23].

Core Viewpoint - The rare earth permanent magnet sector in the A-share market has experienced a significant pullback, with multiple companies facing substantial declines in their stock prices [1] Group 1: Market Performance - Jintian Co. has hit the daily limit down, while Beikong Technology is nearing the limit down, indicating severe market pressure [1] - Dongfang Zirconium has dropped over 7%, with Ashi Chuang and Sanchuan Wisdom both falling over 6% [1] - Other companies such as Keheng Co., Longmag Technology, Youyan Powder Materials, and Yingweideng have also seen declines exceeding 4% [1] Group 2: Company Specifics - Jintian Co. reported a decline of 9.97% with a total market capitalization of 22.6 billion [2] - Beikong Technology saw a decrease of 9.81%, with a market cap of 4.783 billion [2] - Dongfang Zirconium experienced a drop of 7.59%, with a market value of 10.5 billion [2] - Ashi Chuang's stock fell by 6.59%, with a market cap of 7.01 billion [2] - Sanchuan Wisdom decreased by 6.12%, with a market capitalization of 7.343 billion [2] - Keheng Co. dropped by 5.99%, with a market cap of 5.024 billion [2] - Longmag Technology fell by 4.89%, with a market value of 7.269 billion [2] - Youyan Powder Materials decreased by 4.44%, with a market cap of 5.181 billion [2] - Yingweideng saw a decline of 4.00%, with a market capitalization of 8.005 billion [2] - Zhenghai Magnetic Materials and Benlang New Materials both dropped by 3.29% and 3.11% respectively, with market caps of 15 billion and 3.741 billion [2]

证券日报网讯8月20日晚间，有研粉材发布公告称，公司计划于2025年8月28日(星期四)16：00-17：00举 行2025年半年度业绩说明会。 ...