Core Viewpoint - Dinglong Co., Ltd. (300054.SZ) has announced a strategic decision to reallocate part of the funds raised from the issuance of convertible bonds to a new project focused on the research and manufacturing of optoelectronic semiconductor materials, reflecting the company's urgent development needs and overall operational strategy [1] Group 1 - The company aims to improve the efficiency of fund utilization by redirecting unused funds from the original project, which was focused on the localization of key raw materials for optoelectronic semiconductor materials, to a new project [1] - The new project is titled "Optoelectronic Semiconductor Material R&D and Manufacturing Center Project" [1] - This proposal will require approval from the company's shareholders and bondholders' meetings [1]

Group 1 - The company Dinglong Co., Ltd. (SZ 300054) announced on October 31 that its sixth board meeting will be held on the same day in Wuhan, discussing the proposal to change part of the fundraising investment projects [1] - For the year 2024, Dinglong's revenue composition is as follows: 99.2% from the optoelectronic materials industry and 0.8% from other businesses [1] - As of the report, Dinglong's market capitalization is 33.6 billion yuan [1]

证券代码：300054 证券简称：鼎龙股份 公告编号：2025-076 债券代码：123255 债券简称：鼎龙转债 湖北鼎龙控股股份有限公司 根据中国证券监督管理委员会《关于同意湖北鼎龙控股股份有限公司向不 特定对象发行可转换公司债券注册的批复》（证监许可〔2025〕477 号），公 司于 2025 年 4 月 2 日向不特定对象发行面值总额 91,000 万元可转换公司债券， 期限 6 年，每张面值为人民币 100 元，发行数量 9,100,000 张，募集资金总额为 人民币 91,000 万元。扣除发行费用人民币 1,288.22 万元（不含税）后，募集资 金净额为人民币 89,711.78 万元。 上述募集资金已全部到位，立信会计师事务所（特殊普通合伙）对公司本 次可转债的募集资金到位情况进行了审验，并由其于 2025 年 4 月 9 日出具了 《湖北鼎龙控股股份有限公司验资报告》信会师报字[2025]第 ZE10082 号。 （二）募集资金使用情况 截至 2025 年 9 月 30 日，公司募集资金使用情况如下： 单位：万元 | 序号 | 项目名称 | | | 项目投资总额 | 拟投入募集 资金净额 ...

证券代码：300054 证券简称：鼎龙股份 公告编号：2025-077 债券代码：123255 债券简称：鼎龙转债 湖北鼎龙控股股份有限公司 4、本次股东会的召开时间： 现场会议时间为：2025年11月21日（星期五）下午15:00开始 网络投票时间为：2025年11月21日当天 其中：通过深圳证券交易所交易系统进行网络投票的具体时间为2025年11 月21日9∶15—9∶25，9∶30—11∶30和13∶00—15∶00；通过深圳证券交易所 关于召开 2025 年第一次临时股东会的通知 本公司及董事会全体成员保证公告内容真实、准确和完整，没有 虚假记载、误导性陈述或者重大遗漏。 根据《公司法》和《公司章程》的有关规定，经湖北鼎龙控股股份有限公司 （以下简称"公司"）第六届董事会第六次会议审议通过，决定于2025年11月21 日（星期五）下午15:00在武汉市经济技术开发区东荆河路1号公司1号楼行政楼6 楼多功能厅召开公司2025年第一次临时股东会（以下简称"本次股东会"），现 就召开本次股东会的相关事项通知如下： 一、召开会议的基本情况 1、股东会届次：本次股东会为2025年第一次临时股东会 2、会议召集人 ...

证券代码：300054 证券简称：鼎龙股份 公告编号：2025-075 债券代码：123255 债券简称：鼎龙转债 湖北鼎龙控股股份有限公司 第六届董事会第六次会议决议公告 湖北鼎龙控股股份有限公司（以下简称"公司"、"鼎龙股份"）第六届 董事会第六次会议于 2025 年 10 月 31 日在武汉市经济技术开发区东荆河路 1 号 公司 907 会议室以现场结合通讯表决方式召开。会议应到董事 9 人，实到董事 9 人。符合公司章程规定的法定人数。本次会议通知于 2025 年 10 月 24 日以电 话或电子邮件形式送达，公司部分高级管理人员列席了会议，会议的通知和召 开符合《公司法》与《公司章程》的规定，会议由董事长朱双全先生主持。 二、董事会会议审议情况 经与会董事认真审议，通过了以下决议： （一）审议通过了《关于变更部分募集资金投资项目的议案》 为提高募集资金使用效率，根据公司现阶段发展需求的迫切程度及公司整 体经营发展布局，同意将公司向不特定对象发行可转换公司债券的部分募集资 金投资项目——"光电半导体材料上游关键原材料国产化产业基地项目"尚未 使用的部分募集资金用于"光电半导体材料研发制造中心项目"。 ...

1、债权登记日：2025年11月14日（星期五） 2、会议召开时间：2025年11月21日（星期五）16:00 3、根据《湖北鼎龙控股股份有限公司向不特定对象发行可转换公司债券募 集说明书》（以下简称"《募集说明书》"）、《可转换公司债券持有人会议规 则》（以下简称"《会议规则》"）等的相关规定，债券持有人会议决议须经出 席会议的代表二分之一以上表决权的债券持有人同意方能通过。 4、依照有关法律、法规、《募集说明书》、《会议规则》的规定，经表决 通过的债券持有人会议决议对本次可转债全体债券持有人具有法律约束力。 湖北鼎龙控股股份有限公司（以下简称"公司"）于2025年10月31日召开了 第六届董事会第六次会议，审议通过了《关于召开鼎龙转债2025年第一次债券持 有人会议的议案》，决定于2025年11月21日（星期五）16:00召开鼎龙转债2025 年第一次债券持有人会议，具体情况如下： 证券代码：300054 证券简称：鼎龙股份 公告编号：2025-078 债券代码：123255 债券简称：鼎龙转债 湖北鼎龙控股股份有限公司 关于召开鼎龙转债 2025 年第一次债券持有人会议的通知 本公司及董事会全体成员保证 ...

湖北鼎龙控股股份有限公司（以下简称"鼎龙股份"或"公司"）拟变更向 不特定对象发行可转换公司债券部分募集资金投资项目。招商证券股份有限公司 （以下简称"招商证券"或"保荐机构"）作为鼎龙股份向不特定对象发行可转 换公司债券的持续督导的保荐机构，根据《证券发行上市保荐业务管理办法》《深 圳证券交易所创业板股票上市规则》《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》《上市公司募集资金监管规则》等有关法律 法规规定，对鼎龙股份本次变更部分募集资金投资项目事项进行了审慎核查，具 体情况如下： 一、变更募集资金投资项目的概述 （一）募集资金基本情况 根据中国证券监督管理委员会《关于同意湖北鼎龙控股股份有限公司向不特 定对象发行可转换公司债券注册的批复》（证监许可〔2025〕477 号），公司于 2025 年 4 月 2 日向不特定对象发行面值总额 91,000 万元可转换公司债券，期限 6 年， 每张面值为人民币 100 元，发行数量 9,100,000 张，募集资金总额为人民币 91,000 万元。扣除发行费用人民币 1,288.22 万元（不含税）后，募集资金净额为人民币 89,711. ...

Market Overview - The electronic chemicals sector experienced a decline of 1.57% on October 31, with Siquan New Materials leading the drop [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Stock Performance - Notable gainers in the electronic chemicals sector included: - Guanggang Gas with a closing price of 13.45, up 3.14% [1] - Guanghua Technology at 21.65, up 2.07% [1] - Qiangli New Materials at 13.56, up 1.42% [1] - Siquan New Materials saw a significant decline, closing at 183.53, down 8.46% [2] - Other notable decliners included: - Zhongshi Technology at 46.16, down 6.48% [2] - Anji Technology at 196.82, down 5.67% [2] Capital Flow - The electronic chemicals sector experienced a net outflow of 874 million yuan from institutional investors, while retail investors saw a net inflow of 631 million yuan [2] - The sector's overall capital flow indicates a mixed sentiment, with retail investors showing interest despite the institutional outflow [2][3] Individual Stock Capital Flow - Key stocks with significant capital flow include: - Rui Lian New Materials with a net inflow of 18.73 million yuan from institutional investors [3] - Wanrun Shares with a net inflow of 16.53 million yuan from institutional investors [3] - Guoci Materials with a net inflow of 13.02 million yuan from institutional investors [3]

Group 1 - The report highlights that Q3 performance met expectations with a continuous increase in membership numbers for Focus Technology, achieving a revenue of 490 million yuan, a year-on-year increase of 17% [4][5] - The report indicates that the company’s net profit for Q3 was 122 million yuan, showing a year-on-year decrease of 2%, while the net profit excluding non-recurring items was 118 million yuan, down 3.4% year-on-year [5][6] - The report notes that the company’s gross margin was 78.5%, a decrease of 1.4 percentage points year-on-year, and the net profit margin was 24.5%, down 5.2 percentage points year-on-year [5][6] Group 2 - The report states that Kuaijiao's revenue for the first three quarters was 3.174 billion yuan, a year-on-year decrease of 27.24%, with a net profit of 742 million yuan, down 43.39% year-on-year [10][11] - In Q3, Kuaijiao's revenue was 643 million yuan, a year-on-year decrease of 46.23%, and the net profit was 27 million yuan, down 92.55% year-on-year [10][11] - The report indicates that the decline in high-end and mid-range liquor sales was significant, while low-end liquor saw a growth of 117.28% year-on-year [12] Group 3 - The report mentions that Jinshi Resources achieved a revenue of 2.758 billion yuan in the first three quarters, a year-on-year increase of 50.73%, while the net profit was 236 million yuan, down 5.88% year-on-year [15][17] - In Q3, the company reported a revenue of 1.033 billion yuan, a year-on-year increase of 45.21%, and a net profit of 109 million yuan, up 32.29% year-on-year [16][18] - The report highlights that the company’s cash flow from operating activities for the first three quarters was 462 million yuan, an increase of 24.80% year-on-year [15][17] Group 4 - The report indicates that Wanze Co. achieved a revenue of 941 million yuan in the first three quarters, a year-on-year increase of 21%, with a net profit of 170 million yuan, up 22.45% year-on-year [22][23] - In Q3, the company reported a revenue of 525 million yuan, a year-on-year decrease of 2%, but a net profit increase of 31% year-on-year [24][43] - The report notes that the company has significant production capacity in high-temperature alloy components, with various agreements in place for further expansion [23][26] Group 5 - The report states that Lu'an Huanneng's revenue for the first three quarters was 21.1 billion yuan, a year-on-year decrease of 20.8%, with a net profit of 1.55 billion yuan, down 44.45% year-on-year [28][29] - In Q3, the company reported a revenue of 7.03 billion yuan, a year-on-year decrease of 21.8%, and a net profit of 210 million yuan, down 64% year-on-year [28][29] - The report highlights that the company plans to shut down its Xidong Coal Mine to improve operational efficiency and reduce losses [30][31] Group 6 - The report indicates that Mango Super Media's Q3 revenue was 3.099 billion yuan, a year-on-year decrease of 6.58%, with a net profit of 252 million yuan, down 33.47% year-on-year [32][33] - The report notes that increased content and R&D investments led to higher costs, impacting profitability [33][34] - The report highlights that advertising revenue returned to positive growth in Q3, with new shows expected to drive further engagement [35][36] Group 7 - The report states that Hangya Technology achieved a revenue of 530 million yuan in the first three quarters, a year-on-year increase of 1.95%, with a net profit of 78 million yuan, down 16.04% year-on-year [38][39] - In Q3, the company reported a revenue of 161 million yuan, a year-on-year decrease of 10.87%, and a net profit of 17 million yuan, down 34.78% year-on-year [40][41] - The report indicates that the company is focusing on new product development to drive future growth [39][41] Group 8 - The report mentions that Shandong Weida achieved a revenue of 1.439 billion yuan in the first three quarters, a year-on-year decrease of 11%, with a net profit of 230 million yuan, up 15% year-on-year [43][44] - In Q3, the company reported a revenue of 525 million yuan, a year-on-year decrease of 2%, but a net profit increase of 31% year-on-year [43][44] - The report highlights the company's strong cash flow and potential for growth in new business areas [44][45] Group 9 - The report indicates that Dinglong Co. achieved a revenue of 2.698 billion yuan in the first three quarters, a year-on-year increase of 11.2%, with a net profit of 519 million yuan, up 38% year-on-year [46][47] - In Q3, the company reported a revenue of 967 million yuan, a year-on-year increase of 6.6%, and a net profit of 208 million yuan, up 31.5% year-on-year [47][48] - The report highlights the strong performance of the semiconductor business, contributing significantly to overall growth [48]

Core Insights - The company achieved a revenue of 2.698 billion yuan in the first three quarters of 2025, representing a year-on-year growth of 11.23%, and a net profit attributable to shareholders of 519 million yuan, up 38.02% year-on-year, driven by strong growth in the semiconductor business and cost control measures [1] - In Q3 2025, the company reported a revenue of 967 million yuan, with a quarter-on-quarter increase of 6.49% and a year-on-year increase of 6.57%, while the net profit attributable to shareholders was 208 million yuan, reflecting a quarter-on-quarter growth of 22.54% and a year-on-year growth of 31.48% [1] Semiconductor Business Performance - The semiconductor business saw a revenue increase of over 41% year-on-year in the first three quarters of 2025, with its revenue share rising to 57% [2] - The semiconductor segment generated 1.534 billion yuan in revenue, marking a year-on-year growth of 41.27%, with all semiconductor material categories experiencing significant growth [2] - CMP polishing pads revenue grew by 52%, CMP polishing liquids and cleaning liquids by 45%, and semiconductor display materials by 47% year-on-year [2] High-End Wafer Photoresist Development - The high-end wafer photoresist business is progressing rapidly, with several key product models targeting orders in Q4, and the second phase of the production line in Qianjiang set to enter trial operation in Q4 [2] - The company has achieved mass production and supply capabilities for the first phase of the Qianjiang project, with a capacity of 30 tons of KrF/ArF photoresist [2] CMP Materials and Display Materials - In Q3 2025, CMP polishing pads generated a revenue of 320 million yuan, a year-on-year increase of 42% and a quarter-on-quarter increase of 25%, setting a new record for single-quarter revenue [3] - The company is expanding production capacity, aiming to reach a monthly capacity of approximately 50,000 pieces by the end of Q1 2026 [3] - Semiconductor display materials revenue reached 143 million yuan in Q3 2025, reflecting a year-on-year growth of 25%, driven by the construction of G8.6 generation OLED capacity by major domestic panel manufacturers [3] Investment Outlook - The company is positioned as a leading "bottleneck" innovative materials platform, continuously expanding its business layout, including CMP polishing pads, CMP polishing liquids, cleaning liquids, display materials, advanced semiconductor packaging, and high-end wafer photoresists [4] - Revenue projections for 2025-2027 are 3.871 billion yuan, 4.463 billion yuan, and 4.948 billion yuan, with year-on-year growth rates of 15.98%, 15.29%, and 10.88% respectively [4] - Net profit attributable to shareholders is expected to be 828 million yuan, 1.065 billion yuan, and 1.287 billion yuan for the same period, with growth rates of 59.08%, 28.61%, and 20.82% respectively [4]