（文章来源：每日经济新闻） 国瓷材料8月18日晚间发布半年度业绩报告称，2025年上半年营业收入约21.54亿元，同比增加10.29%； 归属于上市公司股东的净利润约3.32亿元，同比增加0.38%；基本每股收益0.33元。 ...

格隆汇8月18日丨国瓷材料(300285.SZ)发布2025年半年度报告，报告期内实现营业收入21.54亿元，同比 增长10.29%；归属于上市公司股东的净利润为3.32亿元，同比增长0.38%。报告期内，公司下游消费电 子等相关行业需求持续回暖，公司MLCC介质粉体销量稳步提升。 ...

Core Viewpoint - Guocera Materials (300285) has signed a cooperation agreement with Wang Yan to establish a joint venture focused on the research, production, and sales of solid-state battery materials [1] Group 1: Joint Venture Details - The registered capital of the joint venture is set at 10 million yuan, with Guocera contributing 8 million yuan, accounting for 80% of the total registered capital [1] Group 2: Financial Performance - In the first half of 2025, Guocera reported a net profit attributable to shareholders of 332 million yuan, representing a year-on-year growth of 0.38% [1] - The company plans to distribute a cash dividend of 0.5 yuan (including tax) for every 10 shares [1]

Group 1 - The company plans to establish a joint venture with Mr. Wang Yan, focusing on the research, production, and sales of solid-state battery materials [1] - The registered capital of the joint venture is set at 10 million RMB, with the company contributing 8 million RMB, representing 80% of the capital, while Mr. Wang Yan will contribute 2 million RMB, representing 20% [1]

山东国瓷功能材料股份有限公司 2025 年半年度报告全文 山东国瓷功能材料股份有限公司 2025 年半年度报告 2025 年 8 月 1 山东国瓷功能材料股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人张曦、主管会计工作负责人肖强及会计机构负责人(会计主管 人员)王连针声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 公司在本半年度报告中详细阐述了未来可能存在的风险因素及对策，具 体内容详见本报告"第三节 管理层讨论与分析"之"十、公司面临的风险和应 对措施"，敬请投资者予以关注相关内容并注意投资风险。 公司经本次董事会审议通过的利润分配预案为：以 991,287,699（总股本 扣除回购专户上已回购股份数）为基数，向全体股东每 10 股派发现金红利 0.50 元（含税），送红股 0 股（含税），不以公积金转增股本。 2 | | | 山东国瓷功能材料股份有限公司 2025 ...

Investment Rating - The report maintains a "Recommended" rating for the basic chemical industry [1] Core Insights - The report highlights the price increases of lithium carbonate and photoinitiators, suggesting a potential recovery in the chemical industry driven by anti-involution trends [1] - The basic chemical sector has shown strong relative performance, with a 39.4% increase over the past 12 months compared to the 25.7% increase in the CSI 300 index [3] Summary by Sections Recent Trends - The report notes a decline in the Guohai Chemical Prosperity Index to 92.75 as of August 14, 2025, down 0.11 from August 7, 2025 [4] Investment Recommendations - Key opportunities identified include: 1. Low-cost expansion in companies such as Wanhua Chemical, Satellite Chemical, and others [5] 2. Improvement in industry prosperity for chromium salts, phosphate rock, and various chemical sectors [6] 3. Focus on new materials with high growth potential and low domestic substitution rates [7] 4. High dividend opportunities in state-owned enterprises like China Petroleum and Sinopec [8] Price Analysis of Key Products - Industrial-grade lithium carbonate price increased by 9.93% to 83,000 CNY/ton [10] - Photoinitiator (TPO) price rose by 5.56% to 95 CNY/kg [10] - Polyester filament price increased by 2.16% to 7,100 CNY/ton [10] Company Performance Tracking - Notable companies such as Zhenhua Co. reported a 10.17% increase in revenue for the first half of 2025 [13] - Wanhua Chemical's pure MDI price was reported at 17,900 CNY/ton, with a slight increase [11] Market Observations - The report indicates a potential inventory replenishment cycle in the chemical sector due to anticipated fiscal policy support in China and the US [29]

Investment Rating - The report maintains a positive outlook on the chemical industry, particularly focusing on heat dissipation materials and helium gas from Russia, as well as incidents affecting Zhongkun Chemical [3][4]. Core Insights - The macroeconomic judgment indicates that non-OPEC countries are expected to lead an increase in oil production, with a significant overall supply growth anticipated. Global GDP growth is projected at 2.8%, with stable oil demand despite some slowdown due to tariffs [3][4]. - The trend towards liquid cooling in AI servers is highlighted, with significant power requirements leading to increased demand for specialized cooling materials. The report suggests monitoring companies like Bayi Shikong, New Era, Dongyangguang, Yonghe Co., and Juhua Co. [3][4]. - Recent incidents affecting helium supply in Russia and a fire at Zhongkun Biotech are expected to positively impact the helium supply-demand balance, with recommendations to focus on companies like Guanggang Gas, Huate Gas, and Jinhong Gas [3][4]. Summary by Sections Industry Dynamics - Oil supply is expected to increase significantly, with non-OPEC countries leading the way. Global oil demand remains stable, but growth may slow due to tariff impacts. Coal prices are expected to stabilize at low levels, while natural gas export facilities in the U.S. may reduce import costs [4][5]. Chemical Sector Configuration - The report notes a decrease in oil prices and an increase in coal prices, with industrial product PPI showing a year-on-year decline of 3.6%. Manufacturing PMI recorded at 49.3%, indicating a slight contraction in manufacturing activity [3][5]. Investment Analysis - Traditional cyclical investments should focus on leading companies in their respective sectors, including Wanhu Chemical, Hualu Hengsheng, and Baofeng Energy. Growth sectors include semiconductor materials and OLED panel materials, with specific companies highlighted for their potential [3][4][17].

Core Insights - The coronary artery stent market in China is projected to reach approximately $7.0 billion by 2024, with a year-on-year growth of 6.4% [5][6]. Market Overview - In 2023, 8.368 million patients were hospitalized for coronary heart disease, with 1.901 million undergoing PCI (Percutaneous Coronary Intervention), where stent placement accounted for 81.2% of these procedures [3][6]. Product Structure - Drug-eluting stents (DES) dominate the market, expected to account for 69% of market revenue in 2024. The increasing prevalence of hypertension and diabetes due to aging populations and lifestyle changes is driving demand for DES [7][6]. Development Trends - **Material Innovation**: New alloy materials such as platinum-chromium and nickel-titanium are increasingly used due to their superior mechanical properties and biocompatibility. Biodegradable materials like polylactic acid and polycaprolactone are also being adopted to mitigate long-term foreign body reaction risks [11]. - **Functional Innovation**: Improvements in drug carriers for drug-eluting stents enhance drug release efficiency, reducing the risk of late thrombosis. Smart stents integrating sensors can monitor physiological parameters in real-time and adjust drug release accordingly [11].

天眼查商业履历信息显示，山东国瓷功能材料股份有限公司，成立于2005年，位于东营市，是一家以从 事化学原料和化学制品制造业为主的企业。企业注册资本99704.8299万人民币，实缴资本99704.8299万 人民币。公司法定代表人为张曦。 通过天眼查大数据分析，山东国瓷功能材料股份有限公司共对外投资了23家企业，参与招投标项目77 次，知识产权方面有商标信息34条，专利信息327条，此外企业还拥有行政许可57个。 来源：金融界 金融界消息 截至2025年8月12日收盘，国瓷材料（300285）报收于19.33元，下跌0.87%，换手率 2.82%，成交量22.67万手，成交金额4.41亿元。 资金流向方面，今日主力资金净流出2989.80万元，占比成交额6.78%。其中，超大单净流出2378.48万 元、占成交额5.39%，大单净流出611.32万元、占成交额1.39%，中单净流出流出116.87万元、占成交额 0.27%，小单净流入3106.67万元、占成交额7.05%。 国瓷材料最新一期业绩显示，截至2025一季报，公司营业总收入9.75亿元、同比增长17.94%，归属净利 润1.36亿元，同比增长1.8 ...

公募基金二季报本周进入密集披露期，部分头部基金及知名基金经理的调仓动向也备受市场关注。 综合来看，各家基金在二季度保持了高仓位运作，新能源产业链、医药消费等成为关注重点。 此外，睿远基金傅鹏博管理的基金则对光伏行业板块个股更为关注。综合季报，通威股份、迈为股 份等新晋十大重仓股，大族激光、先导智能等退出前十大重仓股序列；由傅鹏博、朱璘管理的睿远成长 价值混合基金前十大重仓股为三安光电、中国移动、立讯精密、东方雨虹、万华化学、通威股份、吉利 汽车、沃森生物、迈为股份、国瓷材料。相比一季度，该基金新进持仓了通威股份、吉利汽车、迈为股 份，而先导智能、大族激光、卫宁健康则被调出十大重仓股序列；广发基金刘格菘持仓结构没有出现大 幅调整。其前十大重仓股当中，亿纬锂能、龙佰集团的持仓量不变，国联股份、福莱特分别新晋成为第 七大重仓股和第九大重仓股。另外，晶澳科技、隆基绿能、锦浪科技等多只个股持股数量均较一季度末 有所增长。 Wind数据显示，截至7月20日记者发稿时，已经有多家基金公司旗下1338只股票型开放式基金（未 合并A/C）发布了二季度报告，其中不乏头部基金公司和张坤、刘格菘、傅鹏博、李晓星等知名基金经 理。易方 ...