Group 1 - Silvercorp's revenue from gold and silver products accounts for a low proportion of total operating income [1] - ST Cube has repeatedly triggered abnormal stock trading fluctuations and is under suspension for verification [1] - Xizi Energy plans to invest 100 million yuan to establish an equity investment fund focusing on computing power, energy, AI, and embodied intelligence industries [1] Group 2 - ST Songfa has signed contracts for two 30.6 million ton VLCC super-large crude oil transport ships [1] - Jiangfeng Electronics intends to acquire control of Kaide Quartz for cash and will suspend trading from January 30 [1] - Jiangbolong expects a net profit growth of 150.66% to 210.82% year-on-year for 2025 [1] Group 3 - Hengyuan Coal Power plans to repurchase shares worth 200 million to 250 million yuan [1] - Jintian Co., Ltd. intends to increase its holdings by 50 million to 100 million yuan [1] - Beijing Lier plans to raise no more than 1.034 billion yuan through a private placement [1][2]

Core Viewpoint - The restructuring of the global semiconductor supply chain is accelerating, with domestic material companies pursuing mergers and acquisitions to achieve technological complementarity, customer sharing, and scale expansion, which has become an important path to enhance competitiveness [1]. Group 1: Company Announcements - Jiangfeng Electronics and Kaide Quartz announced a suspension of trading starting January 30 due to a planned acquisition [1][4]. - Jiangfeng Electronics intends to acquire control of Kaide Quartz through a cash transaction, which will make Kaide Quartz a subsidiary of Jiangfeng Electronics [3][7]. - The acquisition is expected to deepen the integration within the semiconductor materials and components sector [7]. Group 2: Company Profiles - Jiangfeng Electronics is a leading global supplier of sputtering targets, primarily used in the physical vapor deposition (PVD) process for semiconductor chip manufacturing [7]. - Kaide Quartz is a significant domestic supplier of quartz products, focusing on the research, production, and sales of quartz glass products used in the semiconductor and photovoltaic sectors [7][10]. - Kaide Quartz has established a business layout involving three subsidiaries, focusing on high-end quartz products and large-diameter quartz glass tubes [7]. Group 3: Financial and Market Context - Jiangfeng Electronics has shown significant growth in recent years, with plans to raise up to 1.948 billion yuan for projects including the production of electrostatic suction cups and a high-purity metal sputtering target production base in South Korea [8]. - Kaide Quartz, listed on the Beijing Stock Exchange in March 2022, is undergoing a transition towards high-end product structures, facing some pressure on profitability [10].

Major Announcements - China Gold announced that its stock trading shows signs of market sentiment overheating, which may lead to a risk of short-term declines after significant price increases. The company's P/E ratio is 55.63, significantly higher than the industry median of 28.60 [1] - Zhaojin Mining stated that the prices of its gold and gold concentrate products are highly influenced by fluctuations in gold prices, which could significantly impact its operating performance if gold prices experience large swings [2] - Silver (Core Stock) Nonferrous reported that the revenue from its gold and silver products constitutes a low proportion of total operating income, with gold product sales accounting for 18.67% and silver product sales for 4.54% of total revenue [3] Company-Specific Risks - Hunan Silver (Core Stock) indicated that it has a relatively low amount of proven metal resources compared to industry peers, which poses a resource reserve risk. The company also faces risks from silver price fluctuations and has a low gross margin of 6.54% compared to mining companies [4] - TianShun Wind Energy decided to implement a long-term shutdown of six wholly-owned subsidiaries due to increasing market competition, aiming to optimize resource allocation and focus on core businesses like offshore wind power [5] - Qidi Environment expects a negative net asset value by the end of 2025, which may lead to a risk warning for its stock trading if the audited net assets are confirmed to be negative [6] Performance Forecasts - BlueFocus anticipates a net profit of 1.8 billion to 2.2 billion yuan for 2025, benefiting from growth in overseas business and improved credit management [12] - Shengyi Technology expects a net profit of 3.25 billion to 3.45 billion yuan for 2025, representing a year-on-year increase of 87% to 98% due to rising sales of copper-clad laminates [13] - Sichuan Gold forecasts a net profit of 420 million to 480 million yuan for 2025, up 69.23% to 93.4% year-on-year, driven by increased sales volume and rising gold prices [14] - Dongfang Communication predicts a net profit of approximately 360 million yuan for 2025, a year-on-year increase of about 138.5%, primarily due to significant investment gains from the disposal of financial assets [15] Other Notable Announcements - Yunnan Copper confirmed that its production and operations are normal, with no undisclosed significant matters, despite its stock experiencing a 20% price fluctuation [9] - Liou Co. reported that its operations are normal, with no undisclosed significant matters, and its stock has also seen a significant price fluctuation [10] - Guosheng Securities expects a net profit of 210 million to 280 million yuan for 2025, reflecting a year-on-year increase of 25.44% to 67.25% due to robust business development [29]

智通财经APP讯，江丰电子(300666.SZ)公告，公司拟以现金收购北京凯德石英股份有限公司(简称"凯德 石英")控制权。交易完成后，公司将成为凯德石英的控股股东，凯德石英将成为公司的控股子公司。公 司股票自2026年1月30日(星期五)开市起停牌，预计停牌时间不超过5个交易日。 ...

经公司向深圳证券交易所申请，公司股票(股票简称：江丰电子，股票代码：300666)自2026年1月30日 (星期五)开市起停牌，预计停牌时间不超过5个交易日。 格隆汇1月29日丨江丰电子(300666.SZ)公布，基于公司整体战略规划及未来发展需要，公司拟以现金收 购北京凯德石英股份有限公司(以下简称"凯德石英"，股票代码：920179)控制权。本次交易完成后，公 司将成为凯德石英的控股股东，凯德石英将成为公司的控股子公司。 ...

同日晚间，凯德石英亦披露公告称，因公司实际控制人张忠恕、王毓敏及其一致行动人张凯轩、北京德 益诚投资发展中心（有限合伙）、北京英凯石英投资发展中心（有限合伙）正在筹划重大事项，拟将部 分股权转让于江丰电子，该事项可能导致公司控制权发生变更。公司股票自1月30日起停牌，预计将于2 月6日前复牌。 交易行情显示，截至1月29日收盘，江丰电子股价报113.48元/股，总市值301.1亿元；凯德石英股价报 50.89元/股，总市值38.15亿元。 公告显示，本次交易完成后，公司将成为凯德石英的控股股东，凯德石英将成为公司的控股子公司。本 次交易预计不构成《上市公司重大资产重组管理办法》规定的重大资产重组。 北京商报讯（记者 王蔓蕾）2026年资本市场首例"A吃A"来了！1月29日晚间，江丰电子（300666）披 露公告称，公司拟以现金收购凯德石英（920179）控制权。公司股票自1月30日起停牌，预计停牌时间 不超过5个交易日。 ...

公司拟以现金收购北京凯德石英股份有限公司（以下简称"凯德石英"，股票代码：920179）控制 权。本次交易完成后，公司将成为凯德石英的控股股东，凯德石英将成为公司的控股子公司。本次交易 预计不构成《上市公司重大资产重组管理办法》规定的重大资产重组。目前相关方案尚待进一步商讨确 定，各方尚未签署相关协议，具体情况以各方签订的相关协议为准。 鉴于上述事项尚处于筹划阶段，存在不确定性，为保证公平信息披露，维护投资者合法权益，避免 造成公司股价异常波动，根据《深圳证券交易所创业板股票上市规则（2025 年修订）》、《深圳证券 交易所上市公司自律监管指引第6 号——停复牌（2025 年修订）》等有关规定，经公司向深圳证券交易 所申请，公司股票（股票简称：江丰电子，股票代码：300666）自 2026 年1 月30 日（星期五）开市起 停牌，预计停牌时间不超过 5 个交易日。 中国经济网北京1月29日讯 江丰电子（300666.SZ）今日晚间披露关于收购事项的停牌公告。 (责任编辑：关婧) 停牌期间，公司将根据上述事项的进展情况，严格按照有关法律法规的规定和要求履行信息披露义 务。待上述事项确定后，公司将及时发布相关公告 ...

证券代码：300666 证券简称：江丰电子 公告编号：2026-002 鉴于上述事项尚处于筹划阶段，存在不确定性，为保证公平信息披露，维护 投资者合法权益，避免造成公司股价异常波动，根据《深圳证券交易所创业板股 票上市规则（2025 年修订）》、《深圳证券交易所上市公司自律监管指引第 6 号— —停复牌（2025 年修订）》等有关规定，经公司向深圳证券交易所申请，公司股 票（股票简称：江丰电子，股票代码：300666）自 2026 年 1 月 30 日（星期五） 开市起停牌，预计停牌时间不超过 5 个交易日。 停牌期间，公司将根据上述事项的进展情况，严格按照有关法律法规的规定 和要求履行信息披露义务。待上述事项确定后，公司将及时发布相关公告并申请 复牌。有关信息以在中国证券监督管理委员会指定信息披露网站巨潮资讯网 （www.cninfo.com.cn）和公司指定信息披露媒体《中国证券报》刊登的公告为准， 敬请广大投资者理性投资，注意投资风险。 特此公告。 宁波江丰电子材料股份有限公司董事会 2026 年 1 月 29 日 关于收购事项的停牌公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 ...

Core Viewpoint - The article discusses the potential for "ten-bagger" stocks in the A-share market, particularly within the non-ferrous metals industry, highlighting companies that may see significant price increases by 2026 [2][4]. Group 1: Characteristics of Ten-Bagger Stocks - Ten-bagger stocks are characterized by being small in market capitalization, low in price, fast-growing, and possessing strong capabilities [4]. - The focus is on lesser-known metals rather than traditional ones like copper, aluminum, zinc, lead, and tin [4]. Group 2: Key Areas of Investment - Rare earth permanent magnet materials, essential for electric vehicles and drones, are highlighted as strategic high-tech materials, with China controlling 90% of global processing capacity [6]. - Semiconductor target materials, including high-purity aluminum, titanium, and copper, are crucial for chip production, with a purity requirement of over 99.999% [8]. - Lithium battery recycling and new energy storage materials are emerging opportunities, especially with the anticipated influx of used electric vehicle batteries [8]. Group 3: Specific Companies with Potential - Guiyan Platinum Industry is noted for its hydrogen energy catalyst, with a projected profit growth of 50% by 2025 and a market cap of over 6 billion [10]. - Dongfang Tantalum Industry is recognized for its tantalum production, essential for 6G communication filters, with a projected profit doubling by 2025 and a PE ratio of 20 [12]. - Yunhai Metal specializes in magnesium-lithium alloys, crucial for lightweight electric aircraft, with a market cap under 5 billion and a projected profit increase of 65% by 2025 [12]. - Jiangfeng Electronics is a leading domestic supplier of high-purity metal targets, with a projected profit growth of over 80% by 2025 and a PE ratio of 22 [14]. Group 4: Market Dynamics and Trends - There is a strong demand for domestic materials from major tech manufacturers like Ningde Times and Huawei, indicating a shift towards local sourcing [17]. - Institutional investors are increasingly buying shares in Guiyan Platinum Industry, Dongfang Tantalum Industry, and Yunhai Metal, with net purchases exceeding 200 million [17]. - The article warns of potential price volatility in rare earths and other minor metals, suggesting caution in trading strategies [19]. Group 5: Investment Strategy - The article emphasizes the importance of identifying companies with a market cap below 8 billion, a PE ratio under 25, and profit growth exceeding 40% [21]. - The focus for 2026 is on sectors like chips, batteries, drones, and AI servers, rather than traditional metals [21].

Core Insights - The global semiconductor materials market is experiencing a strong recovery, with a market size of $66.7 billion in 2023 and expected to exceed $73 billion by 2025, driven by demand from AI and wafer fab expansions [1] - China is becoming a key growth engine in the semiconductor materials market, with a sales figure of $13.1 billion in 2023, marking a year-on-year growth of 3.8% and increasing its global market share to 20% [1] Market Structure - Semiconductor materials are divided into wafer manufacturing materials and packaging materials, with wafer manufacturing materials dominating the market at 62.2% share ($41.5 billion) in 2023 [2] - Silicon wafers hold the largest share in wafer manufacturing materials at 33%, followed by electronic specialty gases (14%) and photomasks (13%) [2] - The market is highly concentrated, with major players in silicon wafers and photolithography materials predominantly from Japan and the U.S. [2] Core Material Breakthroughs - Domestic companies are making significant progress in wafer manufacturing materials, with local firms achieving breakthroughs in 12-inch silicon wafers and photolithography materials [3][4] - The domestic market for electronic specialty gases is also advancing, with companies like Huate Gas entering the TSMC supply chain [4] Packaging Materials - The global packaging materials market saw a decline of 10.1% to $25.2 billion in 2023, but advanced packaging is driving growth, with a projected increase of 19.62% [5] - Domestic companies are rapidly iterating technology in advanced packaging materials, with significant market shares in lead frames and packaging substrates [5] Import Dependency and Policy Support - China still faces significant import dependency in key categories like photolithography materials and electronic specialty gases, with over 90% reliance on imports for high-end materials below 14nm [6][8] - The government is focusing on critical areas through initiatives like the National Big Fund, aiming for 70% self-sufficiency in core materials by 2030 [6][8] Challenges and Future Outlook - Despite notable advancements, the industry faces challenges such as reliance on foreign technology for EUV-grade silicon wafers and high-end photolithography materials [7] - The advanced packaging materials market is expected to reach $39.3 billion by 2025, indicating a significant growth opportunity for domestic companies [7]