Investment Rating - The report maintains an "Outperform" rating for the chemical industry, indicating a positive outlook based on expected economic recovery and demand improvement [1]. Core Insights - The basic chemical industry is expected to see a recovery in profitability, with 2024 revenues projected to reach CNY 2,219.98 billion, a year-on-year increase of 2.66%, while net profit is expected to decline by 8.18% to CNY 108.87 billion [6][26]. - The oil and petrochemical sector is anticipated to maintain stable revenues and profits, with 2024 revenues estimated at CNY 7,941.40 billion, a decrease of 2.81%, and net profit expected to grow by 0.58% to CNY 372.14 billion [1][26]. - The report highlights that 23 out of 33 sub-industries in the basic chemical sector experienced revenue growth in 2024, with significant increases in chlor-alkali and textile chemicals [6][15]. Summary by Sections Industry Overview - The basic chemical industry is experiencing a decline in profitability, with gross and net profit margins at 16.27% and 5.13%, respectively, both down from 2023 [26]. - The report notes that the industry has been in a continuous decline in profitability from 2022 to 2024, but signs of stabilization are emerging [26]. Sub-Industry Performance - In 2024, chlor-alkali and textile chemicals showed the highest profit growth rates at 262.84% and 125.27%, respectively [15][26]. - Conversely, non-metallic materials and other plastic products faced significant profit declines of 79.24% and 67.49% [15][26]. Quarterly Analysis - For Q4 2024, the basic chemical industry reported revenues of CNY 565.72 billion, a year-on-year increase of 5.15%, but a quarter-on-quarter decline of 0.90% [6][7]. - Net profit for Q4 2024 was CNY 14.16 billion, down 10.73% year-on-year and 51.03% quarter-on-quarter [6][7]. Investment Recommendations - The report suggests focusing on companies in rapidly developing downstream sectors, particularly in new materials, energy security, and policy-driven demand recovery [1][26]. - Recommended companies include China National Petroleum, China National Offshore Oil, and various technology firms in the semiconductor and new energy materials sectors [1][26].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has implemented a new action plan to promote the high-quality development of public funds, linking fund manager compensation to long-term performance, which shifts the industry focus from "scale expansion" to "performance-oriented" strategies [1]. Group 1: Policy Impact - The new policy emphasizes the importance of fund managers' long-term performance, potentially leading to a transformation in the industry dynamics [1]. - Wang Guizhong, a prominent fund manager at Harvest Fund, has gained attention for his investment framework that focuses on "information, energy, and life," targeting key technology sectors such as semiconductors, digitalization, and new energy [1]. Group 2: Performance Metrics - As of Q1 2025, Wang Guizhong manages seven funds with a total scale of 11.076 billion yuan, with his flagship product, Harvest Technology Innovation, achieving a remarkable three-year return of 41.76%, significantly outperforming its benchmark by over 54% [1]. - The Harvest Technology Innovation fund has consistently ranked among the top in its category, with a five-year return of 92.56%, and has outperformed its benchmark by 99% over the same period [3]. Group 3: Investment Strategy - The top ten holdings of the Harvest Technology Innovation fund include major companies in semiconductors (SMIC, Jiangfeng Electronics), new energy vehicles (Li Auto, Leap Motor), and high-end manufacturing (Luxshare Precision), indicating a concentrated investment strategy in high-growth sectors [3][4]. - Wang Guizhong highlights the rapid advancements in China's technology sector and the potential for new investment opportunities, despite external pressures such as tariffs [5]. Group 4: Future Outlook - The new compensation structure linked to performance is expected to enhance Wang Guizhong's competitive edge, as his in-depth industry research and forward-looking investment approach align with the policy direction [5]. - The high volatility characteristic of the technology sector poses challenges for fund managers in balancing the pursuit of excess returns with growth in fund size, which will be a critical issue moving forward [5].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：300666 证券简称：江丰电子 公告编号：2025-053 宁波江丰电子材料股份有限公司关于第二期股权激励计划首次授予限制性股票 第三个解除限售期解除限售股份上市流通的提示性公告 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，没有虚假记载、误导性陈述或重大遗 漏。 特别提示： 1、本次解除限售的激励对象合计266名，本次解除限售的限制性股票数量为53.10万股，占公司目前总 股本的0.20%。 （七）2022年8月9日，公司召开第三届董事会第二十七次会议、第三届监事会第二十五次会议，审议并 通过了《关于调整第二期股权激励计划首次授予限制性股票回购价格的议案》，同意将首次授予限制性 股票的回购价格由24.50元/股调整为24.40元/股。独立董事对上述议案发表了同意的独立意见，监事会 对上述议案发表了同意意见，国浩律师（上海）事务所发表了《国浩律师（上海）事务所关于宁波江丰 电子材料股份有限公司第二期股权激励计划调整首次授予限制性股票回购价格之法律意见书》。 （八）2022年10月26日，公司召开第三届董事会第三十一次会议、第三届监事会第 ...

证券代码：300666 证券简称：江丰电子 公告编号：2025-053 宁波江丰电子材料股份有限公司 关于第二期股权激励计划首次授予限制性股票 第三个解除限售期解除限售股份上市流通的提示性公告 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，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、本次解除限售的激励对象合计 266 名，本次解除限售的限制性股票数量 为 53.10 万股，占公司目前总股本的 0.20%。 2、本次解除限售股份上市流通的日期：2025 年 5 月 16 日。 宁波江丰电子材料股份有限公司（以下简称"公司"）于 2025 年 4 月 14 日 召开了第四届董事会第十七次会议和第四届监事会第十六次会议，审议通过《关 于第二期股权激励计划首次授予限制性股票第三个解除限售期解除限售条件成 就的议案》，根据公司第二期股权激励计划（以下简称"本次激励计划"或"本 计划"）的相关规定以及公司 2022 年第一次临时股东大会的授权，公司董事会 为符合解除限售条件的 266 名激励对象办理了 53.10 万股限制性股票解除限售并 上市流通的相关事宜，现将有关事项说明如下： （七）2022 ...

金融界2025年5月10日消息，国家知识产权局信息显示，浙江景昇薄膜科技有限公司、宁波江丰电子材 料股份有限公司取得一项名为"一种三维打印装置"的专利，授权公告号CN222832387U，申请日期为 2024年7月。 专利摘要显示，本实用新型涉及三维打印技术领域，具体公开了一种三维打印装置，该三维打印装置包 括支撑架、第一调整机构、第二调整机构、第三调整机构、材料挤出机构、转动机构和打印支撑机构。 由于设置的第一调整机构、第二调整件和第三调整件，使得材料挤出机构具有三个方向的自由度；并且 设置转动机构和打印支撑机构，使得打印支撑机构具备两个方向的旋转，进而使得三维打印装置具备五 个自由度，当打印工件时，可以利用转动机构和打印支撑机构对打印工件进行旋转，从而抵消重力对悬 垂结构的影响，从而实现无支撑三维打印，相比与利用六轴机械臂实现多自由度无支撑打印的方式，本 实用新型的三维打印装置具备打印空间大且成本低的优点。 天眼查资料显示，浙江景昇薄膜科技有限公司，成立于2020年，位于宁波市，是一家以从事研究和试验 发展为主的企业。企业注册资本259410.53万人民币。通过天眼查大数据分析，浙江景昇薄膜科技有限 公司 ...

Group 1: Market Performance - The storage chip sector declined by 2.67%, ranking among the top losers in the market [1][2] - Notable declines were observed in companies such as Huahong Semiconductor, Hangzhou Kelin, and Canxin Technology, while companies like Oriental Zhongke, Chengbang Co., and Huada Jiutian saw gains of 1.56%, 1.24%, and 0.58% respectively [1][2] Group 2: Capital Flow - The storage chip sector experienced a net outflow of 3.008 billion yuan, with 81 stocks seeing net outflows, and 10 stocks exceeding 100 million yuan in outflows [2] - Tianyuan Dike led the outflow with a net withdrawal of 297 million yuan, followed by Zhaoyi Innovation, Allwinner Technology, and Northern Huachuang with outflows of 253 million yuan, 205 million yuan, and 165 million yuan respectively [2][3] Group 3: Stock Performance - The top stocks with significant outflows included Tianyuan Dike (-4.56%), Zhaoyi Innovation (-2.45%), and Allwinner Technology (-2.69%) [2][3] - Conversely, stocks with net inflows included Oriental Zhongke (1.56%), Deep Kangjia A (0.19%), and Xiechuang Data (0.04%) [2][5]

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，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、宁波江丰电子材料股份有限公司（以下简称"公司"）本次完成回购注 销的限制性股票共计 17,900 股，占回购注销前公司总股本 265,338,583 股的 0.0067%，涉及激励对象 7 人。 2、截至本公告披露之日，上述限制性股票已在中国证券登记结算有限责任 公司深圳分公司完成注销手续。本次回购注销完成后，公司总股本由 265,338,583 股变更为 265,320,683 股。 证券代码：300666 证券简称：江丰电子 公告编号：2025-052 宁波江丰电子材料股份有限公司 关于部分限制性股票回购注销完成的公告 （一）2021 年 12 月 27 日，公司召开第三届董事会第十五次会议、第三届 监事会第十四次会议，审议并通过了《关于公司<第二期股权激励计划（草案）> 及其摘要的议案》、《关于公司<第二期股权激励计划实施考核管理办法>的议案》、 《关于提请股东大会授权董事会办理公司第二期股权激励计划相关事宜的议案》 等议案，独立董事对相关事项发表了同意的独立意见，监事会对相关事项进行了 核 ...

Investment Rating - The report maintains a "Recommended" rating for Jiangfeng Electronics [2][11]. Core Viewpoints - Jiangfeng Electronics achieved significant growth in 2024, with revenue reaching 3.605 billion yuan, a year-on-year increase of 38.57%, and a net profit of 401 million yuan, up 56.79% [3][4]. - The company's core business of ultra-pure metal sputtering targets saw sales revenue of 2.333 billion yuan, growing by 39.51%, while the semiconductor precision components segment also performed well, generating 887 million yuan in sales, a 55.53% increase [4][5]. - The company is expanding its market share in the global wafer manufacturing sputtering target sector and is positioned as a leader in technology and market share [4][5]. - Continuous investment in R&D, with expenses reaching 217 million yuan, up 26.50%, has led to significant advancements in product offerings and technology [5][6]. - The semiconductor precision components business is expected to accelerate growth, driven by domestic chip manufacturing and the trend towards supply chain localization [6][11]. Financial Performance Summary - In 2024, Jiangfeng Electronics reported a gross margin of 28.17%, a slight decrease of 1.03 percentage points year-on-year [4]. - The company forecasts earnings per share (EPS) of 1.98 yuan, 2.42 yuan, and 2.99 yuan for 2025, 2026, and 2027, respectively [11][13]. - Revenue is projected to grow from 3.605 billion yuan in 2024 to 7.208 billion yuan by 2027, reflecting a compound annual growth rate (CAGR) of approximately 23.69% [13][14].

证券代码：300666 证券简称：江丰电子 公告编号：2025-051 宁波江丰电子材料股份有限公司 关于控股股东、实际控制人部分股份质押展期的公告 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 假记载、误导性陈述或重大遗漏。 宁波江丰电子材料股份有限公司（以下简称"公司"）于近日接到控股股东、 实际控制人姚力军先生的通知，获悉姚力军先生办理了部分股份质押展期业务， 具体事项如下： 一、控股股东、实际控制人股份质押展期的基本情况 | 股东 | 是否为 控股股 东或第 | 本次质押 | 占其所 持股份 | 占公司 目前总 | 是否 | 是否 为补 | | 展期后质押 | | 质押 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 一大股 | 股份数量 | 比例 | 股本比 | 为限 | 充质 | 质押起始日 | 到期日 | 质权人 | 用途 | | | 东及其 一致行 | （股） | （%） | 例 （%） | 售股 | 押 | | | | | | | 动人 | | | | | | | | ...

"宁波膜智信息科技有限公司"为势银（TrendBank）唯一工商注册实体及收款账户 势银研究： 势银产业研究服务 势银数据： 势银数据产品服务 势银咨询： 势银咨询顾问服务 重要会议： 4月29日，2025势银异质异构集成封装产业大会（浙江宁波） 点此报名 添加文末微信，加 先进封装 群 2025势银异质异构集成封装产业大会 将于 4月29日 在浙江宁波 · 甬江实验室举办。 会议议程 ⊙ 09:00 - 12:00 专题论坛： 异构集成研究中心成立仪式 09:00 09:10 相关领导 主办方、联合主办方致辞 09:10 09:20 相关领导 混合键合在异构集成先进封装中的应用 09:20 钟飞 主任助理、信息材料与微纳器件制备 09:40 平台负责人 爵江实验室 Chiplet EDA全流程:设计空间探索,物 理实现及多物理验证 09:40 吴晨 项目总监 10:00 芯粒CAD和制造浙江省工程研究中心/深圳 市比昂芯科技有限公司 聚焦2.5D/3D先进封装EDA平台,探索后 10:00 端全流程设计、仿真与验证协同创新模式 10:20 赵毅 创始人兼首席科学家 珠海硅芯科技有限公司 空部 10:20 1 ...