Core Viewpoint - The company expects significant growth in its 2025 annual performance, with net profit projected between 330 million to 370 million yuan, representing a year-on-year increase of 63.86% to 83.73% [1] - The net profit after deducting non-recurring gains and losses is forecasted to be between 320 million to 360 million yuan, showing a year-on-year growth of 83.49% to 106.43% [1] Group 1: Performance Drivers - The company's annual performance growth is primarily driven by the traditional peak season in the consumer electronics industry [1] - The launch of new products by major North American clients and large-scale delivery of new projects have significantly boosted the shipment volume of thermal materials and components [1]

Core Viewpoint - The company, Zhongshi Technology, expects a significant increase in net profit for 2025, driven by strong performance in the consumer electronics sector and strategic partnerships with major clients [1] Financial Performance - The projected net profit attributable to shareholders for 2025 is between 330 million and 370 million yuan, representing a year-on-year growth of 63.86% to 83.73% [1] - The net profit after deducting non-recurring gains and losses is expected to be between 320 million and 360 million yuan, indicating a growth of 83.49% to 106.43% compared to the previous year [1] Market Dynamics - The company's performance is significantly boosted by the traditional peak season in the consumer electronics industry, particularly due to the launch of new products by major North American clients and large-scale delivery of new projects [1] - The collaboration with leading global clients has deepened, resulting in an increase in the penetration rate and market share of thermal products [1] Strategic Initiatives - The company is actively seizing market opportunities presented by AI technology applications, expanding into emerging consumer electronics and AI infrastructure with new thermal solutions [1] - There is a strong focus on enhancing core product research and market promotion, leading to rapid growth in sales revenue from high-efficiency thermal modules, core thermal components, and high-performance thermal materials [1] Operational Efficiency - The company has achieved further improvement in overall profitability through continuous optimization of product structure and cost reduction initiatives, resulting in a synergy between scale and efficiency [1]

Core Viewpoint - The company expects to achieve a net profit attributable to shareholders of 330 million to 370 million yuan in 2025, representing a year-on-year growth of 63.86% to 83.73% driven by the traditional peak season in the consumer electronics industry [1] Group 1: Financial Performance - The projected net profit for 2025 is between 330 million and 370 million yuan, indicating significant growth compared to previous years [1] - The growth is primarily attributed to the launch of new products by major North American clients and large-scale delivery of new projects, leading to an increase in the shipment volume of thermal materials and components [1] Group 2: Market Position and Strategy - The company has deepened its cooperation with leading global clients, resulting in a steady increase in the penetration rate and market share of its thermal products [1] - The company is actively seizing market opportunities presented by AI technology applications, expanding into emerging consumer electronics and AI infrastructure with new thermal solutions [1] - There is a strong focus on enhancing core product research and market promotion, which is expected to drive rapid growth in sales revenue from efficient thermal modules, core thermal components, and high-performance thermal materials [1]

Core Viewpoint - The company, Zhongshi Technology, forecasts a net profit attributable to shareholders of 330 million to 370 million yuan for the year 2025, representing a year-on-year growth of 63.86% to 83.73% [1] Group 1: Financial Performance - The expected net profit for 2025 is between 330 million and 370 million yuan [1] - This forecast indicates a significant increase compared to the previous year, with growth rates projected between 63.86% and 83.73% [1] Group 2: Business Drivers - The growth is attributed to the launch of new products by major North American clients and large-scale delivery of new projects [1] - The company is expanding into emerging sectors such as consumer electronics and AI infrastructure, which is driving sales of high-efficiency cooling modules, core cooling components, and high-performance thermal materials [1] - These developments are contributing to the establishment of a sustainable growth trajectory for the company [1]

证券代码：300684 证券简称：中石科技 公告编号：2026-001 | 项 目 | 本报告期 | | | | 上年同期 | | --- | --- | --- | --- | --- | --- | | 归属于上市公司 | | 33,000 | ～ | 37,000 | 20,138.78 | | 股东的净利润 | 比上年同期增长 | 63.86% | ～ | 83.73% | | | 扣除非经常性损 | | 32,000 | ～ | 36,000 | 17,439.30 | | 益后的净利润 | 比上年同期增长 | 83.49% | ～ | 106.43% | | 北京中石伟业科技股份有限公司 2025 年年度业绩预告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 一、本期业绩预计情况 1、业绩预告期间：2025 年 1 月 1 日至 2025 年 12 月 31 日。 2、业绩预告情况：预计净利润为正值且属于同向上升 50%以上情形 （1）以区间数进行业绩预告的 单位：万元人民币 五、备查文件 1、公司董事会关于本期业绩预告的情况说明。 二、与会计师事务 ...

Market Overview - The electronic chemicals sector experienced a decline of 0.48% on January 19, with Tiancheng Technology leading the drop [1] - The Shanghai Composite Index closed at 4114.0, up 0.29%, while the Shenzhen Component Index closed at 14294.05, up 0.09% [1] Stock Performance - Notable gainers in the electronic chemicals sector included: - Jinhong Gas (688106) with a closing price of 25.52, up 9.57%, and a trading volume of 427,900 shares, totaling 1.068 billion yuan [1] - Zhongshi Technology (300684) closed at 54.55, up 8.62%, with a trading volume of 318,000 shares, totaling 1.723 billion yuan [1] - Sanhu Xinke (688389) closed at 76.90, up 6.82%, with a trading volume of 43,100 shares, totaling 321 million yuan [1] Fund Flow Analysis - The electronic chemicals sector saw a net outflow of 550 million yuan from institutional investors, while retail investors contributed a net inflow of 248 million yuan [2] - The top stocks by net inflow from institutional investors included: - Qiangli New Materials (300429) with a net inflow of 86.87 million yuan, accounting for 5.76% of the total [3] - Jinhong Gas (688106) with a net inflow of 83.17 million yuan, accounting for 7.79% of the total [3] - Zhongshi Technology (300684) with a net inflow of 55.72 million yuan, accounting for 3.23% of the total [3]

Core Viewpoint - The polymer-based thermal interface materials (TIM) industry is experiencing steady growth driven by advancements in AI, 5G, and electric vehicles, with the Chinese market expanding at a faster rate than the global market. The demand for high-end thermal management solutions in sectors like data centers and ADAS is expected to significantly increase, with the ADAS TIM market projected to reach $600 million by 2033 [1][6]. Industry Overview - Polymer-based TIMs are essential for electronic thermal management, designed to fill microscopic gaps between heat-generating devices and heat sinks, thereby reducing thermal resistance and ensuring efficient operation [1][3]. - TIMs are categorized into TIM1, which is used between chips and packaging, and TIM2, which is used between packaging and heat sinks, with TIM1 requiring higher performance standards [3][4]. Industry Policies - The polymer-based TIM industry is part of the new materials sector, which is a strategic focus for national development. Various policies have been implemented to support technological research, industrial application, and market promotion, facilitating breakthroughs in high-end technology and accelerating domestic substitution [5][6]. Industry Chain - The upstream of the TIM industry includes polymer matrices and high thermal conductivity fillers, while the midstream focuses on material formulation and composite process innovation. The downstream applications span consumer electronics, electric vehicles, 5G communication, and data centers, with electric vehicles and data centers being key growth drivers [5][6]. Market Size and Growth - The global TIM market is projected to grow from $2.012 billion in 2024 to $4.148 billion by 2031, with a compound annual growth rate (CAGR) of 10.74%. The Chinese TIM market is expected to grow from $1.027 billion in 2024 to $2.164 billion by 2031, with a CAGR of 11.09%, indicating strong growth potential [6][7]. Competitive Landscape - The competitive landscape shows a dynamic balance where international giants dominate the high-end market while local companies like Huitian New Materials and Feirongda are making significant advancements. These local firms are transitioning from cost advantages to competing directly in high-end supply chains through technological breakthroughs [7][8]. Development Trends - The industry is expected to evolve around three core directions: technological upgrades focusing on high thermal conductivity and multifunctional integration, deepening industry chain collaboration for domestic substitution, and expanding application scenarios that drive customized solutions [8][9][10]. - Future innovations will emphasize high-performance materials with integrated functionalities, while collaboration between upstream and downstream players will enhance the self-sufficiency of the supply chain [10][11].

Group 1 - The electronic chemicals sector increased by 1.2% on January 14, with Tiancheng Technology leading the gains [1] - The Shanghai Composite Index closed at 4126.09, down 0.31%, while the Shenzhen Component Index closed at 14248.6, up 0.56% [1] - Key stocks in the electronic chemicals sector showed significant price movements, with Tiancheng Technology rising by 14.28% to a closing price of 93.37 [1] Group 2 - The electronic chemicals sector experienced a net outflow of 607 million yuan from institutional investors, while retail investors saw a net inflow of 674 million yuan [2] - Notable stocks with significant net inflows from retail investors include Wanrun Co., which had a net inflow of 100 million yuan [3] - The overall trading volume and turnover for various stocks in the electronic chemicals sector varied, with Wanrun Co. achieving a turnover of 1.08 billion yuan [1][3]

Core Viewpoint - The company, Zhongshi Technology (300684), has committed to strictly adhering to relevant laws, regulations, and regulatory requirements regarding performance forecasts and information disclosure obligations [1]. Group 1 - The company responded to investor inquiries on an interactive platform [1]. - The company emphasized its commitment to compliance with legal and regulatory standards [1].

Core Viewpoint - Zhongshi Technology's stock has shown a positive trend with a 1.56% increase year-to-date and significant growth over the past 20 and 60 days, indicating strong market performance and investor interest [1]. Financial Performance - For the period from January to September 2025, Zhongshi Technology achieved a revenue of 1.298 billion yuan, representing a year-on-year growth of 18.45% [2]. - The net profit attributable to shareholders for the same period was 252 million yuan, reflecting a substantial year-on-year increase of 90.59% [2]. - The company has distributed a total of 896 million yuan in dividends since its A-share listing, with 447 million yuan distributed over the past three years [2]. Shareholder and Market Activity - As of September 30, 2025, the number of shareholders increased by 28.67% to 42,000, while the average number of circulating shares per person decreased by 21.88% to 4,867 shares [2]. - Major shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 6.982 million shares, and other institutional investors such as GF Multi-Asset Emerging Stocks and Xin'ao Craftsmanship, which also increased their stakes [2]. Stock Performance Metrics - As of January 9, Zhongshi Technology's stock price was 49.99 yuan per share, with a market capitalization of 14.972 billion yuan [1]. - The stock experienced a trading volume of 309 million yuan, with a turnover rate of 3.08% [1]. - The stock has seen a 14.45% increase over the past 20 trading days and a 10.97% increase over the past 60 trading days [1].