Group 1 - The core viewpoint of the article highlights the active performance of the photoresist concept stocks, with notable gains in companies such as ASML, Kangpeng Technology, Meiyu Technology, Yida Co., Shanghai Xinyang, and Huamao Technology [1] - Tsinghua University announced a significant breakthrough in extreme ultraviolet (EUV) photoresist materials, led by Professor Xu Huaping's team, which developed a new type of photoresist based on poly(thiol) for advanced semiconductor manufacturing [1]

Core Viewpoint - Chip stocks experienced a rebound in the afternoon, with several major stocks seeing significant gains, indicating a positive trend in the semiconductor sector [1] Group 1: Stock Performance - Companies such as Cambricon, Taiji, Shengke Communication, Huahong Group, and Jingfeng Mingyuan all saw their stock prices rise by over 5% [1] - Other companies including SMIC, Aishi Chuang, Guoxin Technology, Shengbang Technology, and Guomin Technology also followed suit with notable increases [1]

Industry Overview - The target material industry in China has a diverse range of listed companies, covering upstream high-purity metal target material production, midstream target material manufacturing, and downstream applications in semiconductors, flat panel displays, and solar cells [1][3][10] Key Companies - Major upstream companies include Dongfang Tantalum Industry, Yuguang Gold Lead, Jinmoly Co., Zijin Mining, and Shengda Resources, focusing on deep processing of metals like copper, aluminum, silver, and tantalum [1][3] - Leading midstream companies are Jiangfeng Electronics, Ashi Chuang, Longhua Technology, Youyan New Materials, and Oulai New Materials, specializing in target material production [1][3] - Notable downstream companies include BOE Technology Group, Qianzhao Optoelectronics, CATL, and Longi Green Energy, which utilize target materials in their manufacturing processes [1][3] Financial Performance - In 2024, Youyan New Materials and Antai Technology are projected to have significant revenue, exceeding 7 billion yuan, while Jiangfeng Electronics and Ashi Chuang are expected to see revenue growth rates of 38.57% and 23.50%, respectively [6][8] - The industry is characterized by high revenue growth but fluctuating net profits, indicating a competitive and developing market [6][8] Target Material Business Performance - Jiangfeng Electronics, Ashi Chuang, Longhua Technology, and Oulai New Materials show diverse product structures and application areas, with Jiangfeng Electronics' production volume increasing by 38.29% and Ashi Chuang's by 56.88% [10][11] - Revenue from target material businesses is growing significantly, with Youyan New Materials' thin film materials business increasing by 46.53% year-on-year [12][13] Profit Margins - In 2024, Jiangfeng Electronics leads with a gross margin of 31.35% in its high-purity target material business, followed by Longhua Technology at 22.12% and Oulai New Materials at 18.69% [16] International Business - Jiangfeng Electronics achieved overseas revenue of 1.445 billion yuan, accounting for 40.10% of total revenue, with a year-on-year growth of 26.31% [19][21] - Longhua Technology's overseas revenue grew by 41.67%, while Youyan New Materials experienced a decline of 42.05% in overseas revenue [19][21] R&D Investment - Jiangfeng Electronics and Youyan New Materials have high R&D investments of 217.29 million yuan and 207.14 million yuan, respectively, indicating a focus on enhancing technological capabilities [22] Business Planning - Companies are actively planning to innovate and expand their market presence, with Youyan New Materials focusing on high-purity target materials and Longhua Technology aiming for sustainable development through new material integration [25][27]

Group 1 - The core point of the article highlights the significant cost structure of the target material industry, with raw materials, particularly lead, being the largest cost component [1][2] - In 2024, the raw material cost proportion for companies like Aishi Chuang and Longhua Technology exceeds 80%, while Oulai New Materials stands at 60.17% [1] - Labor costs are relatively low, ranging from 3.5% to 8%, while manufacturing expenses fluctuate between 5% and 30% [1] Group 2 - The pricing of target materials in China is influenced by supply-side factors, manufacturing costs, value-added premiums, and consumer demand elasticity [6] - The cost structure of Aishi Chuang's target materials shows that direct materials account for around 85% from 2019 to 2024, indicating a significant impact from raw material price fluctuations [2] - Manufacturing costs have been rising, with a proportion between 9% and 16%, while direct labor costs remain below 5% [2] Group 3 - The value chain of the target material industry in China exhibits a "high middle, low ends" trend [8] - The upstream of the target material industry consists of raw material and production equipment suppliers, while the midstream includes metal, ceramic, and alloy target materials [9] - The downstream applications are primarily in emerging fields such as semiconductors, flat panel displays, and photovoltaics [9] Group 4 - The gross profit margin levels in the upstream raw materials show differentiation, with high-purity metals and ceramic materials reaching up to 85%, while the gross margin for downstream applications is projected to decline to below 15% in 2024 [11] - Midstream target material manufacturing companies can achieve gross margins between 15% and 35%, with industry leaders like Jiangfeng Electronics and Longhua Technology maintaining margins above 20% in their target material businesses [11]

证券代码：300706 证券简称：阿石创 公告编号：2025-036 福建阿石创新材料股份有限公司 关于部分募集资金投资项目结项并将节余募集资金 注 2：2022 年 7 月 15 日，公司召开了第三届董事会第十四次会议和第三届监事会第十 次会议，审议通过了《关于终止部分募集资金投资项目并将募集资金调整至其他募投项目的 议案》，同意公司终止对"铝钪靶材和钼靶材的研发建设项目"的募集资金项目投入，将拟 用于该项目的募集资金转投入至"超高清显示用铜靶材产业化建设项目"中，具体内容详见 公司于 2022 年 7 月 15 日在巨潮资讯网（www.cninfo.com.cn）上披露的《关于终止部分募 集资金投资项目并将募集资金调整至其他募投项目的公告》（公告编号：2022-039）。该议 案于 2022 年 8 月 1 日经 2022 年第一次临时股东大会审议并通过。 永久补充流动资金的公告 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，不存在虚假 记载、误导性陈述或重大遗漏。 福建阿石创新材料股份有限公司（下称"公司"）2020 年向特定对象发行股票 募集资金投资项目（下称"募投项目"）之"超高清显示用 ...

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，不存在虚假 记载、误导性陈述或重大遗漏。 福建阿石创新材料股份有限公司（下称"公司"）于 2024 年 9 月 20 日召开第 四届董事会第三次会议、第四届监事会第三次会议分别审议并通过了《关于使用部 分闲置募集资金暂时补充流动资金的议案》，同意公司使用金额不超过人民币 6,000.00 万元的闲置募集资金暂时补充流动资金，用于公司的业务拓展、日常经营 等与主营业务相关的生产经营使用，使用期限为自董事会审议通过之日起不超过 12 个月。具体情况详见公司在巨潮资讯网（http://www.cninfo.com.cn）披露的《关于 使用部分闲置募集资金暂时补充流动资金的公告》（公告编号：2024-044）。 2025 年 5 月 13 日，公司已将上述用于暂时补充流动资金中的 300 万元提前归 还 至 募 集 资 金 专 用 账 户 ， 具 体 情 况 详 见 公 司 在 巨 潮 资 讯 网 （http://www.cninfo.com.cn）披露的《关于提前归还部分用于暂时补充流动资金 的闲置募集资金的公告》（公告编号：2025-031）。 2025 ...

Group 1: Industry Overview - The demand for target materials in China is increasing due to the rapid rise of downstream industries such as semiconductors, flat panel displays, and photovoltaic new energy [1] - The competitive landscape of the target material industry is intensifying, with many listed companies entering the market [1] Group 2: Competitive Landscape - Jiangfeng Electronics leads the industry with a significant revenue scale, while Longhua Technology, Ashi Chuang, Oulai New Materials, and Youyan New Materials are in the second tier [1][3] - The third tier includes companies like Yingri Technology and Xian Dao Technology Group, which have a certain operational scale in target materials [1] Group 3: Company Performance - Jiangfeng Electronics' ultra-pure metal alloy target production increased by 38.29% year-on-year, while Ashi Chuang's sputtering target production grew by 56.88% [3] - Longhua Technology's electronic new materials business saw a 39.76% increase in production, and Oulai New Materials experienced significant growth in ITO targets and other materials [3][4] Group 4: Revenue and Profitability - Jiangfeng Electronics achieved a revenue of 2.333 billion yuan in 2024, with a growth rate of 39.51%, making it the industry leader [6] - Longhua Technology's electronic new materials business revenue reached 678 million yuan, with a year-on-year growth of 43.38% [6] Group 5: International Market Presence - Jiangfeng Electronics generated 1.445 billion yuan in overseas revenue, accounting for 40.10% of total revenue, reflecting strong international market expansion [9] - Longhua Technology's overseas revenue reached 137 million yuan, with a growth rate of 41.67%, while Youyan New Materials saw a decline in overseas revenue [9] Group 6: Regional Distribution - As of May 20, 2025, there are 1,549 companies in China related to target materials, with the majority located in Jiangsu and Guangdong provinces [10] - Guangdong has the highest number of target material companies at 266, followed by Jiangsu with 234, together accounting for 32.3% of the total [10] Group 7: Competitive Dynamics - The target material industry exhibits a stable competitive environment, with high standardization of upstream raw materials and a balanced market [12] - Existing companies have technical advantages, but the industry’s attractiveness may invite new entrants due to high profit margins [12]

证券代码：300706 证券简称：阿石创 公告编号：2025-034 福建阿石创新材料股份有限公司 关于公司 2022 年限制性股票激励计划首次授予部分第二个 归属期第二批次及预留授予部分第一个归属期第二批次归属 结果暨股份上市的提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 重要内容提示： ●本次归属日：2025 年 5 月 29 日 ●本次归属股份数量：合计 28.40 万股，其中首次授予部分第二个归属期第二批 次归属股份 25.65 万股，预留授予部分第一个归属期第二批次归属股份 2.75 万股 ●本次归属人数：合计 30 人，其中首次授予部分第二个归属期第二批次 28 人， 预留授予部分第一个归属期第二批次 2 人 ●截至本公告披露日，本批次归属的限制性股票额外限售期已结束 福建阿石创新材料股份有限公司（下称"阿石创"或"公司"）于 2024 年 10 月 28 日召开第四届董事会第四次会议，审议通过了《关于公司 2022 年限制性股票 激励计划首次授予部分第二个归属期及预留授予部分第一个归属期归属条件成就的 议案》。近日，公司办理完成了 ...

上海市锦天城律师事务所 关于福建阿石创新材料股份有限公司 2024 年年度股东大会的 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 11/12 层 电话：021-2051 1000 传真：021-2051 1999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于福建阿石创新材料股份有限公司 2024 年年度股东大会的 法律意见书 致：福建阿石创新材料股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受福建阿石创新材料股份 有限公司（以下简称"公司"）委托，就公司召开 2024 年年度股东大会（以下简 称"本次股东大会"）的有关事宜，根据《中华人民共和国公司法》（以下简称《公 司法》）《上市公司股东会规则》等法律、法规、规章和其他规范性文件以及《福 建阿石创新材料股份有限公司章程》（以下简称《公司章程》）的有关规定，出具 本法律意见书。 为出具本法律意见书，本所及本所律师依据《律师事务所从事证券法律业务 管理办法》和《律师事务所证券法律业务执业规则（试行）》等规定，严格履行 了法定职责，遵循了勤勉尽责和诚实信用原则，对本次股东大会所涉及的相关事 ...

证券代码：300706 证券简称：阿石创 公告编号：2025-033 福建阿石创新材料股份有限公司 2024 年年度股东大会决议公告 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，不存在虚假 记载、误导性陈述或重大遗漏。 一、会议召开和出席情况 （一）会议召开情况 1、会议召集人：公司董事会 2、会议召开时间： （1）现场会议时间：2025 年 5 月 19 日下午 14:00； （2）网络投票时间：2025 年 5 月 19 日。 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 5 月 19 日上午 9:15-9:25，9:30-11:30，下午 13:00-15:00；通过深圳证券交易所互联 网投票系统投票的具体时间为：2025 年 5 月 19 日上午 9:15 至下午 15:00 期间的任 意时间。 3、现场召开地点：福州市长乐区漳港街道漳湖路 66 号公司会议室 4、股权登记日：2025 年 5 月 13 日 （星期二） 5、会议召开方式：本次会议采取现场投票及网络投票相结合的方式。公司通过 深圳证券交易所交易系统和互联网投票系统向全体股东提供网络形式的投票平台， ...