Core Viewpoint - The wave-absorbing materials industry in China is experiencing unprecedented growth opportunities driven by the proliferation of 5G/6G communication technologies, explosive growth in the electric vehicle industry, and accelerated modernization of national defense. The market size is projected to grow from 9.2 billion yuan in 2019 to 15.2 billion yuan by 2024, with a compound annual growth rate (CAGR) of 10.6% [1][6]. Industry Overview - Wave-absorbing materials are designed to absorb or significantly reduce electromagnetic wave energy, thereby minimizing interference. They are required to have high absorption rates across a wide frequency range, as well as lightweight, temperature resistance, moisture resistance, and corrosion resistance [2][3]. - The classification of wave-absorbing materials includes absorption-type, interference-type, and various loss mechanisms such as resistive, dielectric, and magnetic loss types [2]. Industry Value Chain - The upstream raw materials for wave-absorbing materials include non-ferrous metals such as iron, copper, nickel, chromium, silicon, titanium, and aluminum. The midstream involves the production and manufacturing of wave-absorbing materials, while the downstream applications span electric vehicles, 5G communication, consumer electronics, and photovoltaic energy storage [3][4]. Current Industry Status - The global market for wave-absorbing materials is on an upward trend, expected to reach 6.138 billion USD by 2024, reflecting a year-on-year increase of 6.8%. This growth is primarily driven by demand in military, aerospace, communication, and electronic information sectors [5][6]. Competitive Landscape - Historically, the wave-absorbing materials market has been dominated by foreign manufacturers such as ARC, 3M, DuPont, Henkel, TDK, and NEC. However, domestic companies in China are advancing technologically, with firms like Shenzhen Feirongda Technology Co., Ltd., Beikong Technology Co., Ltd., and others achieving competitive product standards [7][8]. Industry Development Trends 1. **Performance Improvement**: Future developments will focus on enhancing performance in high-frequency absorption, wide frequency coverage, and multifunctional integration. The rise of 5G/6G communication and millimeter-wave radar technologies necessitates materials that maintain excellent absorption performance at high frequencies [9]. 2. **Application Expansion**: Initially used in military applications, wave-absorbing materials are now extending into civilian sectors, including smart vehicles and IoT, where they help mitigate electromagnetic interference and enhance system reliability [10][11]. 3. **Green and Intelligent Transformation**: The industry is moving towards smart manufacturing and green production practices, emphasizing the use of eco-friendly raw materials and low-emission processes, such as water-based coating technologies [12].

Group 1 - The metal new materials sector increased by 3.43% on January 5, with Longda Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 4023.42, up 1.38%, while the Shenzhen Component Index closed at 13828.63, up 2.24% [1] - Longda Co., Ltd. saw a closing price of 28.90, with a significant increase of 11.15% and a trading volume of 116,200 shares [1] Group 2 - The sector experienced a net outflow of 380 million yuan from institutional investors, while retail investors saw a net inflow of 313 million yuan [2] - The trading data indicates that the stock of Youyan Powder Materials decreased by 9.01%, closing at 70.70 yuan [2] - The stock of Longda Co., Ltd. had a net inflow of 28.44 million yuan from institutional investors, but a net outflow of 35.07 million yuan from speculative investors [3]

Group 1 - The company has received approval for trial production of its carbonyl iron powder demonstration line, which will add an annual production capacity of 3,000 tons [2] - The current phase of the project focuses on completing the full production process debugging and ensuring process stability and product quality [2] - For the first quarter of 2026, the company expects limited output during the debugging and troubleshooting phase, which will not significantly impact the quarterly performance [2]

Group 1 - The core viewpoint of the article is that the company, Yuean New Materials (688786.SH), has received inquiries about the application of carbonyl iron powder in maglev trains, but currently lacks direct information on this specific application [2]. Group 2 - The company produces carbonyl iron powder, which can be used in the manufacturing of inductors and other electronic components, widely applicable in various electronic device fields [2].

Core Viewpoint - Ningxia YUEAN New Materials Technology Co., Ltd. has received approval for trial production of its metal soft magnetic micro-nano powder production demonstration line, marking a significant step in the technological transformation and industrial layout of Jiangxi YUEAN New Materials Co., Ltd. in the new materials sector [1] Group 1 - The project is a key achievement in Jiangxi YUEAN's focus on the metal powder field, utilizing core technology with ilmenite as raw material to efficiently produce carbonyl iron powder and synthetic rutile, exploring a new development path that combines efficiency and environmental sustainability [1] - Upon full production, the company will add an annual capacity of 3,000 tons of carbonyl iron powder and 7,500 tons of synthetic rutile, strengthening the foundation for the group's scaled development and providing stable and reliable key material support for high-end electronics and precision manufacturing industries [1] Group 2 - The approval for trial production of the demonstration line is a critical milestone in the multi-scenario extension of carbonization technology [1] - The company aims to continue focusing on technological upgrades and achievement transformation, leveraging the practical experience of Ningxia YUEAN to steadily release the technical value of carbonization processes, and exploring applications in cutting-edge fields such as rare precious metal powders and high-end catalyst carriers [1] - The strategy involves refining the "core technology + multi-scenario extension" industrial layout, ensuring steady progress in the development of the new materials industry [1]

Core Viewpoint - Jiangxi Yuenan New Materials Co., Ltd. has announced the grant of reserved restricted stock under the 2025 Restricted Stock Incentive Plan, with a total of 575,040 shares to be granted at a price of 13.33 yuan per share on December 29, 2025, to 36 incentive objects, representing 0.40% of the company's total share capital at the time of the announcement [2][22]. Summary by Sections Incentive Plan Details - The reserved grant date for the restricted stock is set for December 29, 2025 [2]. - A total of 575,040 shares will be granted, which is 0.40% of the company's total share capital at the time of the announcement [2]. - The grant price for the restricted stock is determined to be 13.33 yuan per share [2][22]. Decision-Making Process - The decision-making process for the incentive plan has been completed, including approvals from the board and supervisory committee [3][5]. - The company held a board meeting on March 22, 2025, to approve the draft of the 2025 Restricted Stock Incentive Plan [3][31]. - The plan was publicly disclosed on April 25, 2025, and no objections were raised during the internal announcement period [4][31]. Compliance and Conditions - The board confirmed that both the company and the incentive objects meet the necessary conditions for the grant, as outlined in the incentive plan [6][12]. - The company has ensured compliance with relevant laws and regulations regarding the implementation of the stock incentive plan [8][39]. Financial Impact - The accounting treatment for the restricted stock will follow the relevant accounting standards, and the costs associated with the stock grants will be amortized over the vesting period [14][15]. - The adjustments to the grant price and quantity due to the company's profit distribution and capital reserve transfer will not materially affect the company's financial status [36][37]. Legal and Advisory Opinions - Legal opinions confirm that the adjustments and grants have received the necessary approvals and comply with applicable regulations [38][39]. - Independent financial advisors have also reviewed the adjustments and confirmed their compliance with relevant laws and regulations [16].

Core Viewpoint - The company announced the approval of several proposals, including adjustments to the grant price and quantity of the 2025 restricted stock incentive plan by its third board of directors' fourth meeting [2] Group 1 - The company has made changes to the grant price of the restricted stock incentive plan for 2025 [2] - The board meeting also approved adjustments to the number of shares to be granted under the incentive plan [2]

Group 1 - The company Yuenan New Materials announced on December 30 that its third board meeting was held on December 29, 2025, in Guangzhou, discussing the adjustment of the 2025 restricted stock incentive plan regarding grant price and quantity [1] Group 2 - A new type of chip has been developed in China, which bypasses the limitations of lithography machines, supporting AI training and embodied intelligence, and can be mass-produced using mature processes of 28 nanometers and above [1]

证券代码：688786 证券简称：悦安新材 公告编号：2025-040 江西悦安新材料股份有限公司 第三届董事会第四次会议决议公告 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、会议召开情况 江西悦安新材料股份有限公司（以下简称"公司"）第三届董事会第四次会 议于 2025 年 12 月 29 日在公司广州分公司会议室以现场结合通讯的方式召开。 本次会议通知及相关材料已于 2025 年 12 月 26 日以邮件方式送达公司全体董事。 本次董事会会议应到董事 7 人，实到董事 7 人，会议由董事长李上奎先生主持。 本次会议的召集、召开方式符合《中华人民共和国公司法》（以下简称"《公司 法》"）及《江西悦安新材料股份有限公司章程》（以下简称"《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 与会董事对本次会议需审议的议案进行了充分讨论，审议通过了以下议案： （一）《关于调整 2025 年限制性股票激励计划授予价格及授予数量的议案》 鉴于公司 2024 年度利润分配及资本公积金转增股本方案于 2025 年 ...

江西悦安新材料股份有限公司 董事会薪酬与考核委员会关于公司 2025 年限制性股票激 励计划预留授予部分激励对象名单的核查意见 （截至预留授予日） 江西悦安新材料股份有限公司（以下简称"公司"）董事会薪酬与考核委员会依 据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证券 法》（以下简称"《证券法》"）、《上市公司股权激励管理办法》（以下简称 "《管理办法》"）、《上海证券交易所科创板股票上市规则》（以下简称"《上市 规则》"）以及《江西悦安新材料股份有限公司章程》（以下简称"《公司章 程》"）等有关规定，对公司 2025 年限制性股票激励计划（以下简称"本次激励计 划"）预留授予部分激励对象名单进行了核查，发表核查意见如下： 一、本次激励计划预留授予部分激励对象名单的人员具备《公司法》《证券 法》等法律、行政法规和规范性文件以及《公司章程》规定的任职资格。 二、列入本次激励计划预留授予部分激励对象名单的人员的基本情况属实，不 存在虚假、故意隐瞒或引起重大误解之处。 三、本次激励计划预留授予部分的激励对象不包括独立董事，不存在以下不得 成为激励对象的情形： 3、最近 12 个月内因重大违 ...