Core Viewpoint - The stock price of Xinzhou Bang has shown a significant increase in recent months, reflecting positive market sentiment and strong financial performance in the electronic chemical industry [2][3]. Group 1: Stock Performance - As of January 13, Xinzhou Bang's stock price rose by 2.07% to 55.77 CNY per share, with a trading volume of 859 million CNY and a turnover rate of 2.91%, resulting in a total market capitalization of 41.93 billion CNY [1]. - Year-to-date, the stock price has increased by 6.43%, with a 3.03% rise over the last five trading days, 16.14% over the last 20 days, and 24.49% over the last 60 days [2]. Group 2: Company Overview - Xinzhou Bang, established on February 19, 2002, and listed on January 8, 2010, is located in Shenzhen, Guangdong Province, specializing in the research, production, sales, and service of new electronic chemicals and functional materials [2]. - The company's revenue composition includes battery chemicals (66.43%), organic fluorochemicals (17.03%), electronic information chemicals (16.03%), and other (0.50%) [2]. Group 3: Financial Performance - For the period from January to September 2025, Xinzhou Bang achieved a revenue of 6.616 billion CNY, representing a year-on-year growth of 16.75%, while the net profit attributable to shareholders was 748 million CNY, up by 6.64% [2]. - Since its A-share listing, Xinzhou Bang has distributed a total of 2.149 billion CNY in dividends, with 1.121 billion CNY distributed over the last three years [3]. Group 4: Shareholder Information - As of September 30, 2025, Xinzhou Bang had 45,600 shareholders, an increase of 19.44% from the previous period, with an average of 11,840 circulating shares per shareholder, a decrease of 16.27% [2]. - Among the top ten circulating shareholders, notable changes include a decrease in holdings by E Fund's ChiNext ETF and the entry of new shareholders such as Hong Kong Central Clearing Limited [3].

Group 1 - The chemical sector is experiencing a rebound, with the chemical ETF (516020) showing a significant increase, reaching a maximum intraday gain of 1.56% and closing up by 0.89% [1] - Key stocks in the sector include Kasei Bio, which surged by 12.54%, and Salt Lake Co., which rose by 7.13%, among others [1][2] - Recent capital inflow into the chemical sector has been strong, with the chemical ETF accumulating a net subscription of 560 million yuan over the last five trading days and over 910 million yuan in the last ten days [2] Group 2 - The Producer Price Index (PPI) for industrial products decreased by 1.9% year-on-year in December 2025, with a month-on-month increase of 0.2%, indicating a narrowing decline compared to the previous month [3] - The chemical industry is expected to undergo a revaluation, as its industry position and profit levels do not align, with potential recovery in profitability anticipated [3] - The chemical sector is at a new starting point of supply-demand rebalancing, influenced by policies aimed at reshaping competition and advancements in new production capabilities [3] Group 3 - The chemical ETF (516020) tracks the CSI segmented chemical industry theme index, with nearly 50% of its holdings concentrated in large-cap leading stocks, providing an opportunity for investors to capitalize on strong performers [4] - Investors can also access the chemical ETF through linked funds, enhancing investment efficiency in the chemical sector [4]

证券日报网讯 1月12日，新宙邦（300037）在互动平台回答投资者提问时表示，公司半导体化学品按照 应用工艺和产品组份的不同，主要可分为高纯化学品、功能性化学品，具体产品包括高纯化学品、蚀刻 液、剥离液、PI等聚合物材料、清洗液、冷却液、其他功能材料等，应用于半导体生产的制造工艺中， 是半导体产业的重要支撑材料。在半导体领域，公司的核心产品高端氟化液已成功实现商业化批量供 应，公司凭借深厚的技术积累，成为国内少数能稳定供应满足半导体制造严苛要求高端氟化液的企业， 已实现在半导体制程冷却等关键领域的批量应用。随着全球半导体产业投资加速及国际主流公司退出带 来的市场机遇，公司氟化液业务有望迎来持续增长。公司在固态电解质领域的研究投入多年，截至目 前，新宙邦（含子公司）固态电解质相关专利申请累计超过30件。公司的参股公司深圳新源邦科技有限 公司已构建覆盖氧化物、硫化物、聚合物等主流技术路线的研发和生产能力并已实现批量生产并销售。 ...

证券日报网讯1月12日，新宙邦（300037）在互动平台回答投资者提问时表示，三明海斯福作为公司高 端氟化学品业务的核心平台，在含氟精细化学品领域拥有深厚的研发积累、全链条核心技术及规模化生 产能力。公司始终致力于将高性能氟材料推广应用于各类高端前沿领域，并持续进行相关的技术与市场 开拓。公司的具体客户、订单及测试信息属于商业保密范畴，未经许可公司不便讨论具体客户名称及业 务情况，所有应披露的重大业务合作，公司均会依据相关法律法规及时履行审议程序并发布公告。 ...

证券日报网讯1月12日，新宙邦（300037）在互动平台回答投资者提问时表示，公司主要产品应用在民 品市场，没有军标认证。 ...

Core Insights - The chemical industry is expected to experience a recovery in profitability in 2026, marking a new starting point for supply-demand rebalancing, driven by anti-involution policies and advancements in new productive forces such as AI and robotics [2][5]. Group 1: Industry Overview - The chemical industry faced a downturn in profitability and valuation in 2025, but signs of stabilization and recovery are anticipated in 2026 [2]. - The peak of capital expenditure in the chemical sector has passed, with fixed asset investment turning negative in the second half of 2025, indicating the end of the capacity expansion cycle [5][14]. - The Producer Price Index (PPI) for chemicals is expected to gradually turn positive in 2026 after a prolonged period of decline [14]. Group 2: Investment Themes - Capital expenditure is decreasing, and leading companies like Wanhua Chemical are expected to see a recovery in profitability as they reduce capital spending and increase their global market share in MDI [5]. - The anti-involution policy is reshaping supply dynamics, with a focus on quality development and the exit of outdated capacities, benefiting companies with innovative capabilities and export advantages [5]. - New materials are driving demand growth in traditional chemicals, with companies like Dinglong Technology and Anji Technology positioned to benefit from domestic substitution in high-end materials [5]. Group 3: Market Dynamics - Chemical prices have been under pressure, with the chemical product price index declining approximately 8.8% in 2025, but stock prices in the sector have rebounded by 33.3% [10][16]. - The operating rates of mainstream chemical products are showing signs of weakness, with inventory levels varying significantly across different products [17][18]. - The supply-demand balance for phosphate rock remains tight, with stable prices for high-grade phosphate rock, while the market for phosphate fertilizers is influenced by policy and demand fluctuations [46][43]. Group 4: Global Trends - The global chemical supply is shifting towards China, which has become the largest chemical producer, while European chemical production faces challenges due to high energy costs [31][33]. - The restructuring of supply chains due to tariff disturbances is prompting companies to adapt, with a focus on overseas expansion for leading chemical firms [26][22]. - The anti-involution policies are expected to enhance industry cash flow and promote sustainable development by curbing disorderly expansion and prioritizing profitability [40].

Core Viewpoint - The company, Xinzhou Bang, confirms that its subsidiary, Sanming Haifus, supplies perfluoropolyether and fluorinated liquids to private rocket companies such as Blue Arrow Aerospace and Tianbing Technology, and has also entered the supply chain for certain state-owned rocket launches [1] Group 1: Product and Application - The company's organic fluorine chemicals include three main categories: fluorocarbon chemicals, fluorinated polymers, and fluorinated fine chemicals [1] - These products are utilized in various sectors including construction, automotive, electronics, telecommunications, pharmaceuticals, textiles, new energy, and environmental protection [1] - The materials are characterized by their exceptional chemical stability, insulation properties, and performance across a wide temperature range, making them suitable for extreme environments [1] Group 2: Confidentiality and Disclosure - The company maintains confidentiality regarding specific customers, orders, and testing information, stating that it cannot discuss detailed customer names or business situations without permission [1] - All significant business collaborations that need to be disclosed will be announced in accordance with relevant laws and regulations [1] - Investors are encouraged to refer to the official announcements published on the company's website for accurate information [1]

您好！感谢您对公司的关注！公司主要产品应用在民品市场，没有军标认证。公司PFPE全氟聚醚类产 品主要聚焦于工业润滑、消费电子、半导体制程、IDC数据中心等对材料可靠性要求极高的应用领域， 并已在这些市场获得认可与应用。公司的具体客户、订单及测试信息属于商业保密范畴，未经许可公司 不便讨论具体客户名称及业务情况，所有应披露的重大业务合作，公司均会依据相关法律法规及时履行 审议程序并发布公告。敬请广大投资者以公司在巨潮资讯网（www.cninfo.com.cn）发布的正式公告为 准。查看更多董秘问答>> 投资者提问： 公司的全氟聚醚润滑脂PFPE是否有用于商业航天或者火箭，氟化液有用于航天器吗？公司是否有航天 或者军标认证/ 董秘回答(新宙邦SZ300037)： 免责声明：本信息由新浪财经从公开信息中摘录，不构成任何投资建议；新浪财经不保证数据的准确 性，内容仅供参考。 ...

投资者提问： 董秘回答(新宙邦SZ300037)： 免责声明：本信息由新浪财经从公开信息中摘录，不构成任何投资建议；新浪财经不保证数据的准确 性，内容仅供参考。 您好！感谢您对公司的关注！公司有机氟化学品包含氟碳化学品、含氟聚合物及含氟精细化学品等三大 类产品，应用于建筑、汽车、电子电器、通信、医药医疗、纺织、新能源、环保等领域。相关产品凭借 因其超强的化学稳定性、绝缘性和宽温域性能等优异特性，是能够满足极端苛刻环境要求的特种材料， 在多个对材料可靠性要求极高的前沿领域拥有应用潜力和市场空间。公司的具体客户、订单及测试信息 属于商业保密范畴，未经许可公司不便讨论具体客户名称及业务情况，所有应披露的重大业务合作，公 司均会依据相关法律法规及时履行审议程序并发布公告。敬请广大投资者以公司在巨潮资讯网 （www.cninfo.com.cn）发布的正式公告为准。查看更多董秘问答>> 尊敬的董秘您好：公司的液冷高端产品有没有用在商业航天领域？ ...

Investment Rating - The industry rating is "Overweight" [6] Core Viewpoints - The adjustment of the battery export tax rebate is expected to boost exports in 2026 and optimize the industry structure, benefiting companies with overseas production capacity [1][2] - The reduction in export tax rates aims to curb low-price competition in the export market and promote the exit of outdated production capacity [2][3] - The battery export tax rebate will lead to two rounds of export rush before the end of 2026, tightening supply and demand across the lithium battery supply chain [3][4] Summary by Sections Export Tax Rebate Adjustment - The export tax rebate for battery products will be reduced from 9% to 6% starting April 1, 2026, and will be eliminated entirely from January 1, 2027 [1] - This policy is expected to drive a surge in battery exports in 2026, intensifying supply-demand tensions in lithium mining and lithium hexafluorophosphate [1][2] Supply Chain Impact - The reduction in export tax is anticipated to tighten the supply-demand balance in the lithium battery industry, with major lithium material utilization rates projected at 92% for lithium hexafluorophosphate and 81% for copper foil in 2026 [3] - The ongoing demand for energy storage and the increasing sales of new energy vehicles in Europe are expected to further support this tightening [3] Recommendations - Companies with established overseas production capacity, such as CATL and Yiwei Lithium Energy, are recommended for investment [1][4] - Other companies in the supply chain, including Tianqi Lithium, New Chemical Materials, and Shangtai Technology, are also highlighted as potential beneficiaries of the tightening supply-demand dynamics [4]