Group 1 - The core point of the news is that Aisen Co., Ltd. has seen a stock price increase of 5.01%, reaching 87.60 CNY per share, with a trading volume of 238 million CNY and a turnover rate of 4.99%, resulting in a total market capitalization of 7.72 billion CNY [1] - Aisen Co., Ltd. specializes in the research, production, and sales of electronic chemicals, with its main business revenue composition being: electroplating solution and supporting reagents 45.37%, electroplating supporting materials 29.31%, photoresist and supporting reagents 21.91%, others (supplementary) 3.04%, and other electronic chemicals 0.37% [1] Group 2 - Southern Fund's Southern Information Innovation Mixed A (007490) has entered the top ten circulating shareholders of Aisen Co., Ltd., holding 741,200 shares, which accounts for 1.34% of the circulating shares, with an estimated floating profit of approximately 3.10 million CNY [2] - Southern Information Innovation Mixed A (007490) has achieved a year-to-date return of 29.34%, ranking 6th out of 8,846 in its category, and a one-year return of 101.14%, ranking 182nd out of 8,091 [2]

Core Viewpoint - The company positions itself as a dual-core process platform of "electroplating + photolithography," deeply engaging in high-growth sectors such as advanced packaging and advanced node wafer manufacturing, becoming a core beneficiary and active participant in the semiconductor market's high prosperity [1] Industry Growth - The overall industry prosperity is increasing, driven by the rise in domestic production rates and improved product penetration, which are propelling the company's business growth [1]

Core Viewpoint - The company has evolved its role from merely providing domestic alternatives and ensuring stable supply to deeply participating in the early-stage R&D and testing of new products for core domestic clients, thereby achieving advanced material solutions and matching [1] Group 1: Strategic Collaboration - The company is now engaged in deeper strategic collaboration with core domestic clients, moving beyond basic supply to co-develop new products [1] - The collaboration includes joint laboratories and pilot testing projects to advance semiconductor material validation and integration [1] Group 2: Supply Chain Positioning - This strategic shift helps the company solidify its position in the supply chain, aligning with the rapid advancements in domestic packaging and processing technologies [1] - The company is able to better anticipate technological iterations in end applications such as AI and high-performance computing, which informs its material development [1] Group 3: Industry Opportunities - By participating in early R&D and testing, the company aims to capture high-growth opportunities in the semiconductor industry [1] - The proactive approach in material solution development allows the company to align with innovation paths in semiconductor processes [1]

Market Overview - The Shanghai Composite Index closed at 4108.66 points, below the five-day moving average, with a decline of 0.42% [1] - The total trading volume of A-shares reached 23623.15 billion yuan [1] Stocks Exceeding Five-Day Moving Average - A total of 586 A-shares have surpassed the five-day moving average today [1] - Notable stocks with significant deviation rates include: - Xidian Co., Ltd. (301629) with a deviation rate of 13.09% and a daily increase of 15.81% [1] - Tianming Technology (920270) with a deviation rate of 11.12% and a daily increase of 15.56% [1] - Shanghai Xinyang (300236) with a deviation rate of 9.55% and a daily increase of 14.90% [1] Additional Stocks with Notable Performance - Other stocks with notable performance include: - Su Dawei (300331) with a daily increase of 15.95% and a deviation rate of 9.30% [1] - Aerospace Nanhai (688552) with a daily increase of 18.28% and a deviation rate of 9.07% [1] - Keheng Co., Ltd. (300340) with a daily increase of 11.72% and a deviation rate of 8.66% [1]

Group 1 - The core viewpoint of the news is that Aisen Co., Ltd. has seen a significant stock price increase of 5.11%, reaching 74.85 yuan per share, with a trading volume of 288 million yuan and a turnover rate of 7.03%, resulting in a total market capitalization of 6.597 billion yuan [1] - Aisen Co., Ltd. specializes in the research, production, and sales of electronic chemicals, with its main business revenue composition being: electroplating solution and supporting reagents at 45.37%, electroplating supporting materials at 29.31%, photoresist and supporting reagents at 21.91%, others (supplementary) at 3.04%, and other electronic chemicals at 0.37% [1] Group 2 - Among the top circulating shareholders of Aisen Co., Ltd., a fund under Southern Fund ranks as a significant stakeholder. The Southern Information Innovation Mixed A Fund (007490) entered the top ten circulating shareholders in the third quarter, holding 741,200 shares, which accounts for 1.34% of the circulating shares, with an estimated floating profit of approximately 2.6981 million yuan [2] - The Southern Information Innovation Mixed A Fund (007490) has a total asset size of 3.477 billion yuan, with a year-to-date return of 13.59%, ranking 288 out of 8,838 in its category, and a one-year return of 85.41%, ranking 390 out of 8,089 [2]

Group 1 - The core viewpoint of the news is that Aisen Co., Ltd. has seen a significant stock price increase of 6.9%, reaching 80.10 CNY per share, with a trading volume of 523 million CNY and a turnover rate of 12.42%, resulting in a total market capitalization of 7.059 billion CNY [1] - Aisen Co., Ltd. specializes in the research, production, and sales of electronic chemicals, with its main business revenue composition being: electroplating solution and supporting reagents at 45.37%, electroplating supporting materials at 29.31%, photoresist and supporting reagents at 21.91%, others (supplementary) at 3.04%, and other electronic chemicals at 0.37% [1] Group 2 - Among the top circulating shareholders of Aisen Co., Ltd., a fund under Southern Fund ranks as a significant stakeholder, specifically the Southern Information Innovation Mixed A (007490), which entered the top ten circulating shareholders in the third quarter with 741,200 shares, accounting for 1.34% of circulating shares [2] - The Southern Information Innovation Mixed A fund has achieved a year-to-date return of 17.55%, ranking 4th out of 8,825 in its category, and a one-year return of 93.29%, ranking 253rd out of 8,084 [2]

Core Viewpoint - The stock of Aisen Co., Ltd. has experienced fluctuations, with a recent decline of 2.01% and a total market capitalization of 6.202 billion yuan, reflecting mixed investor sentiment and trading activity [1]. Group 1: Stock Performance - As of January 6, Aisen's stock price was 70.37 yuan per share, with a trading volume of 131 million yuan and a turnover rate of 3.28% [1]. - Year-to-date, Aisen's stock price has decreased by 0.01%, with a 5-day decline of 1.26%, a 20-day increase of 35.85%, and a 60-day increase of 41.02% [1]. Group 2: Financial Performance - For the period from January to September 2025, Aisen achieved a revenue of 439 million yuan, representing a year-on-year growth of 40.71%, and a net profit attributable to shareholders of 34.476 million yuan, up 44.67% year-on-year [2]. Group 3: Shareholder Information - As of September 30, 2025, Aisen had 7,993 shareholders, an increase of 24.95% from the previous period, with an average of 6,916 circulating shares per shareholder, a decrease of 19.97% [2]. - The company has distributed a total of 17.1292 million yuan in dividends since its A-share listing [3]. - Among the top ten circulating shareholders, the Southern Information Innovation Mixed A fund is the ninth largest, holding 741,200 shares as a new shareholder [3]. Group 4: Company Overview - Aisen Co., Ltd. was established on March 26, 2010, and went public on December 6, 2023. The company specializes in the research, production, and sales of electronic chemicals [1]. - The main revenue sources for Aisen include electroplating solutions and supporting reagents (45.37%), electroplating materials (29.31%), photoresists and supporting reagents (21.91%), and other electronic chemicals (3.41%) [1].

Core Insights - The company emphasizes a long-term development strategy, focusing on steady progress rather than short-term market fluctuations [2][9] - The semiconductor materials industry requires strategic determination and deep technical accumulation over decades, rather than being driven by temporary market trends [2][9] Company Strategy - The company has set an ambitious growth target of "ten times in ten years," driven by the vast growth potential within the domestic semiconductor industry [4] - The company believes that the push for self-sufficiency in the supply chain will lead to a rapid growth phase in the next five to ten years, supported by ongoing breakthroughs in key technologies [4] - The company has maintained a stable median growth rate of around 20% despite fluctuations in recent years [4] Location and Talent - The company has strategically chosen to establish its operations in Kunshan due to its proximity to a dense semiconductor customer base and manageable operational costs [4] - Kunshan's appeal lies in its ability to attract and retain talent, providing a balance between operational costs and quality of life for employees [4] Business Segments - The company has evolved from a follower to a leader in the semiconductor electroplating sector, achieving international standards in product performance [6] - The company has expanded into the photoresist market, becoming a key player in advanced packaging, with a goal to lead the industry [6][8] - Currently, electroplating accounts for 70% of total revenue, while photoresist contributes approximately 25%, with expectations for balanced growth in the future [6] Competitive Position - The company is one of the few in China capable of providing a complete material solution for advanced packaging, integrating both electroplating and photoresist [7] - The company has achieved significant differentiation in the market, particularly in the photoresist sector, where it competes effectively with international giants [8] Research and Development - The company invests heavily in R&D, with nearly 40% of its workforce dedicated to this area, which is typical for semiconductor material firms [8] - The company has filled domestic technological gaps, such as in the PSPI (photo-sensitive polyimide) sector, establishing a first-mover advantage [9]

Market Overview - The Sci-Tech Innovation Board (STAR Market) index rose by 0.36%, closing at 1340.02 points, with a total trading volume of 3.698 billion shares and a turnover of 191.305 billion yuan, resulting in a weighted average turnover rate of 1.90% [1] - Among the tradable stocks on the STAR Market, 215 stocks closed higher, with 6 stocks increasing by over 10% and 18 stocks rising between 5% and 10%. Conversely, 376 stocks closed lower [1] Turnover Rate Analysis - The distribution of turnover rates among STAR Market stocks shows that 6 stocks had turnover rates exceeding 20%, 18 stocks had rates between 10% and 20%, 50 stocks had rates between 5% and 10%, 81 stocks had rates between 3% and 5%, 263 stocks had rates between 1% and 3%, and 180 stocks had rates below 1% [1] - The stock with the highest turnover rate was C Youxun, a new stock listed for 5 days, which had a turnover rate of 42.00% and a daily trading volume of 1.28 billion yuan, despite a decline of 5.45% [1] High Turnover Stocks Performance - Among the high turnover stocks, 42 stocks increased today, with the top gainers being Meier Technology, Anda Intelligent, and Huafeng Technology, which rose by 20.00%, 15.51%, and 14.27%, respectively. The top decliners included Hexin Instruments, Zhenyou Technology, and Mengsheng Electronics, which fell by 7.72%, 7.14%, and 6.64% [2] - The electronic industry had the highest representation among high turnover stocks, with 25 stocks, followed by machinery equipment and power equipment with 12 and 8 stocks, respectively [2] Capital Flow Insights - In terms of capital flow, 33 high turnover stocks experienced net inflows today, with the largest net inflows seen in Aters, Tengjing Technology, and Huafeng Technology, amounting to 309 million yuan, 221 million yuan, and 216 million yuan, respectively. Conversely, Zhenlei Technology, Muxi Co., and Sry New Materials saw significant net outflows of 509 million yuan, 442 million yuan, and 417 million yuan, respectively [2] - Recent data indicates that 44 high turnover stocks received net purchases from leveraged funds, with notable increases in financing balances for Muxi Co., C Youxun, and Xinghuan Technology, which rose by 938 million yuan, 575 million yuan, and 332 million yuan, respectively [3] Notable Stocks on December 23 - The following stocks had significant turnover rates and capital flows on December 23: - C Youxun: Latest closing price 203.11 yuan, daily change -5.45%, turnover rate 42.00%, net outflow -80.4554 million yuan [4] - Hengkun New Materials: Latest closing price 50.60 yuan, daily change 4.76%, turnover rate 36.37%, net outflow -15.4525 million yuan [4] - Muxi Co.: Latest closing price 667.60 yuan, daily change -5.08%, turnover rate 25.06%, net outflow -441.7924 million yuan [4] - Huafeng Technology: Latest closing price 94.72 yuan, daily change 14.27%, turnover rate 17.47%, net inflow 216.45 million yuan [4]

Core Viewpoint - On December 22, the Shanghai Composite Index rose by 0.69%, with institutional investors appearing on the trading lists of 28 stocks, net buying 11 and net selling 17 [1][2]. Institutional Trading Summary - Institutional investors had the highest net buying in Shennong Agricultural, which closed at the daily limit with a turnover rate of 45.52% and a transaction amount of 2.72 billion [2]. - Xue Ren Group saw a decline of 4.47% with a turnover rate of 44.90% and a transaction amount of 5.78 billion, with institutions net buying 1.71 billion [2]. - Aisen Co., Ltd. increased by 18.65% with a turnover rate of 24.30% and a transaction amount of 906 million, with institutions net buying 1.68 billion [2]. Market Performance - The average increase of stocks with institutional net buying was 3.81%, outperforming the Shanghai Composite Index [3]. - Stocks like Shennong Agricultural and Kema Technology showed strong performance, closing at the daily limit [3]. - Historical data indicates that stocks with institutional net buying have a 48.07% probability of rising the next day and a 43.16% probability of increasing over the next three days [3]. Net Selling Summary - The stock with the highest net selling by institutions was Tongyu Communication, which had a turnover rate of 44.35% and a price deviation of 8.87%, with institutions net selling 1.20 billion [3]. - Jingzhida, which increased by 19.96%, also saw significant net selling from institutions totaling 9620.62 million [3]. Deep and Shanghai Stock Connect - On December 22, 20 stocks on the trading list had appearances from Deep and Shanghai Stock Connect, with net buying in stocks like Jingzhida and Baiyin Youse totaling 1.20 billion and 906.78 million respectively [7]. - Stocks such as Huaren Health and Bona Film saw net selling from Deep and Shanghai Stock Connect, with amounts of 2511.79 million and 1982.37 million respectively [7].