Market Performance - The metal new materials sector increased by 1.84% on September 30, with Placo New Materials leading the gains [1] - The Shanghai Composite Index closed at 3882.78, up 0.52%, while the Shenzhen Component Index closed at 13526.51, up 0.35% [1] Stock Performance - Placo New Materials (300811) closed at 84.32, with a rise of 12.44% and a trading volume of 227,600 shares, amounting to 1.93 billion yuan [1] - Other notable performers included: - Yuenan New Materials (688786) at 28.98, up 5.84% [1] - Zhenghai Aomaterials (300224) at 16.84, up 3.95% [1] - Zhongzhou Special Materials (300963) at 18.76, up 3.82% [1] - Tunan Co., Ltd. (300855) at 29.94, up 3.74% [1] Capital Flow - The metal new materials sector experienced a net outflow of 189 million yuan from institutional investors and 83.30 million yuan from speculative funds, while retail investors saw a net inflow of 272 million yuan [2] - Specific stock capital flows included: - Zhenghai Magnetic Materials (300224) with a net inflow of 101 million yuan from institutional investors [2] - Zhongzhou Special Materials (300963) with a net inflow of 39.82 million yuan from institutional investors [2] - An Tai Technology (000969) with a net inflow of 15.40 million yuan from institutional investors [2]

悦安新材回应称，公司全资子公司宁夏悦安一期年产3,000吨羰基铁粉生产示范线项目，计划今年底进 入试生产阶段。从规划来看，项目正式投产后预计将为公司的营业收入带来一定的增量。具体财务数据 以公司后续披露的定期报告为准。 格隆汇9月28日｜有投资者在互动平台向悦安新材公司提问：请问年底宁夏项目投产后，会不会对明年 的业绩带来显著影响？ ...

悦安新材（688786.SH）9月26日在投资者互动平台表示，公司全资子公司宁夏悦安一期年产3000吨羰 基铁粉生产示范线项目，计划今年底进入试生产阶段。从规划来看，项目正式投产后预计将为公司的营 业收入带来一定的增量。具体财务数据以公司后续披露的定期报告为准。 每经AI快讯，有投资者在投资者互动平台提问：请问年底宁夏项目投产后，会不会对明年的业绩带来 显著影响？ （文章来源：每日经济新闻） ...

Core Viewpoint - The company has developed a series of high-yield strength special powder materials for the application needs of foldable smartphone hinges, which have been successfully supplied in bulk for this sector [1] Group 1 - The research and development team of the company has focused on the specific requirements of foldable smartphone hinges [1] - The newly developed materials are characterized by high yield strength [1] - The metal injection molding feedstock high-strength steel products made from these materials are now in mass supply for the foldable smartphone hinge market [1]

Group 1 - The core viewpoint of the news highlights the trading performance and financial metrics of Yuedan New Materials, indicating a decline in stock price and significant financing activities on September 15 [1] - On September 15, Yuedan New Materials experienced a stock price drop of 3.32%, with a trading volume of 89.05 million yuan. The financing buy-in amount was 14.49 million yuan, while the financing repayment was 8.53 million yuan, resulting in a net financing buy-in of 5.96 million yuan [1] - As of September 15, the total margin balance for Yuedan New Materials was 165 million yuan, with the financing balance accounting for 4.19% of the circulating market value, indicating a high level compared to the past year [1] Group 2 - As of June 30, the number of shareholders for Yuedan New Materials was 4,338, an increase of 8.99% from the previous period, with an average of 33,148 circulating shares per person, up by 10.10% [2] - For the first half of 2025, Yuedan New Materials reported operating revenue of 203 million yuan, a year-on-year decrease of 0.76%, while the net profit attributable to the parent company was 37.99 million yuan, reflecting a year-on-year growth of 3.54% [2] Group 3 - Yuedan New Materials has cumulatively distributed 184 million yuan in dividends since its A-share listing, with 133 million yuan distributed over the past three years [3]

Group 1 - The first national 3D printing drug production license has been issued in Nanjing, marking a significant step in the development and industrialization of 3D printing technology in pharmaceuticals [2] - The licensed entity, Nanjing SanDieJi Pharmaceutical Technology Co., has a production capacity of 300 million 3D printed drug pieces annually, making it the largest commercial production base for 3D printed drugs globally [2] - 3D printing technology offers advantages over traditional pharmaceutical manufacturing, including complex drug structure design, digital drug development, precise drug delivery, and intelligent manufacturing [2] Group 2 - The 3D printing market in China is projected to reach approximately 423 billion yuan in 2024 and is expected to exceed 450 billion yuan by 2025, driven by the increasing application of 3D printing products and the release of pent-up demand for 3D printing equipment [3] - The application fields of 3D printing are expanding, covering industries such as aerospace, automotive, biomedical, construction, and consumer goods, with rapid growth in the consumer electronics sector [3] Group 3 - Seven 3D printing concept stocks have been frequently researched by institutions, with notable companies including Dazong Laser, Aobi Zhongguang-UW, and Yuedan New Materials, among others [5] - The average increase in the stock prices of 3D printing concept stocks this year is 37.05%, with Zhongzhou Special Materials leading with a 192% increase [5][6] - Companies like Aidi Te and Huazhu High-Tech are actively involved in the 3D printing sector, with Aidi Te having launched multiple 3D printers and Huazhu High-Tech developing its own 3D printing equipment and materials [4][5] Group 4 - Xie Chuang Data (300857) has seen its stock price rise significantly, reaching a market value of 44.303 billion yuan, with a maximum increase of over 11 times compared to its three-year low [7] - The company reported a revenue of 4.944 billion yuan in the first half of the year, a year-on-year increase of 38.18%, with a net profit of 432 million yuan, reflecting a growth of 20.76% [7]

Core Insights - Jiangsu Province has issued the first national drug production license utilizing 3D printing technology, marking a significant advancement in the research and industrialization of 3D printed pharmaceuticals in China [1] - The confidence of pharmaceutical companies in 3D printing technology is greatly encouraged by this development [1] Group 1: Market Performance - As of September 10, 2023, 3D printing concept stocks have seen an average increase of 37.05% this year [1] - Zhongzhou Special Materials has the highest increase at 192%, followed by Huazhu High-Tech with an increase of 111.02% [1] Group 2: Institutional Research - Seven 3D printing concept stocks have been investigated by institutions 10 times or more this year, including Dazhu Laser, Aobi Zhongguang-UW, and others [1] - Dazhu Laser leads with 72 institutional investigations, while Aobi Zhongguang-UW has been investigated 21 times [2]

证券代码：688786 证券简称：悦安新材 公告编号：2025-037 江西悦安新材料股份有限公司 关于参加 2025 年半年度科创板新材料行业 集体业绩说明会的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： （二）会议召开地点：上海证券交易所上证路演中心（网址：http://roadsho w.sseinfo.com/） 会议召开时间：2025 年 9 月 18 日（星期四）下午 15:00-17:00 会议召开地点：上海证券交易所上证路演中心（网址：https://roadshow.ssei nfo.com/） 会议召开方式：网络文字互动 投资者可于 2025 年 9 月 11 日（星期四）至 9 月 17 日（星期三）16:00 前 登录上证路演中心网站首页，点击"提问预征集"栏目或通过公司邮箱（stock @yueanmetal.com）进行提问。公司将在说明会上对投资者普遍关注的问题进行 回答。 江西悦安新材料股份有限公司（以下简称"公司"）已于 2025 年 8 月 28 日在上海证券交易 ...

Investment Rating - The investment rating for the company is "Buy" with a target price not specified [7][18]. Core Views - The company has shown initial signs of scale effects, leading to a significant improvement in profitability. The H1 2025 revenue was CNY 203 million, a year-on-year decrease of 0.8%, while the net profit attributable to the parent company was CNY 38 million, an increase of 3.5% year-on-year [1][4]. Revenue Summary - In H1 2025, the company achieved revenue of CNY 203 million, with the following breakdown: carbonyl iron powder (CNY 61 million, +4.1% YoY), atomized alloy powder (CNY 16 million, -35.6% YoY), soft magnetic powder (CNY 84 million, +15.1% YoY), and MIM feedstock (CNY 36 million, -7.5% YoY). The decline in atomized alloy powder and MIM feedstock revenue was attributed to intense industry competition and price pressures [2][4]. Profitability Summary - The gross margin for H1 2025 was 38.0%, an increase of 3.25 percentage points year-on-year. The net profit margin was 18.6%, up 0.82 percentage points year-on-year. The improvement in profitability was mainly due to cost optimization and the initial realization of scale effects [3][4]. Capacity Expansion - The company’s IPO fundraising project for carbonyl iron powder is expected to reach a usable state by Q3 2023, with production capacity set to double from 5,500 tons to 11,500 tons. This expansion is anticipated to alleviate capacity bottlenecks and enhance product structure optimization [4][6]. Financial Forecast - The projected net profit attributable to the parent company for 2025-2027 is CNY 80 million, CNY 125 million, and CNY 163 million, respectively. The corresponding price-to-earnings ratios are 52, 33, and 26 times [4][6].

Summary of Key Points Core Viewpoint - The recent block trading activity of Yuean New Materials indicates significant institutional interest, with a notable discount on the trading price compared to the market closing price, suggesting potential investment opportunities and market dynamics [2]. Trading Activity - On September 5, 2023, Yuean New Materials recorded 2 block trades totaling 300,000 shares, with a transaction value of 7.44 million yuan [2]. - The transaction price was 24.80 yuan, reflecting a discount of 10.82% compared to the closing price of 27.81 yuan [2]. - Institutional participation was noted in one of the trades, with a total transaction amount of 3.72 million yuan, indicating a net buying position of 3.72 million yuan [2]. Recent Performance - Over the past three months, Yuean New Materials has seen a total of 11 block trades, accumulating a transaction value of 29.99 million yuan [2]. - The stock closed at 27.81 yuan on the same day, marking a 5.54% increase, with a trading volume of 1.28 billion yuan and a turnover rate of 3.23% [2]. - Despite the price increase, there was a net outflow of 4.33 million yuan in main funds for the day, and a cumulative net outflow of 15.64 million yuan over the past five days [2]. Margin Trading Data - The latest margin financing balance for Yuean New Materials stands at 159 million yuan, with a decrease of 3.40 million yuan over the past five days, representing a decline of 2.10% [2].