Core Viewpoint - The article emphasizes the growing importance of thermal management solutions in the electronics industry, driven by advancements in high-end smartphones, AI computing demands, and the increasing power density of electric vehicle control systems. The thermal materials industry is rapidly evolving, showcasing a vibrant ecosystem of domestic companies and innovative technologies [2]. Group 1: Listed Companies - Feirongda (300602) is a leading expert in electromagnetic shielding and thermal management solutions, providing a complete product chain including thermal conductive materials, graphite films, and liquid cooling plates. The company serves major clients like Huawei and BYD in the communication and new energy sectors [3][5]. - Siquan New Materials (301489) focuses on thermal management materials, offering a comprehensive range of products such as graphite heat dissipation films and modules. The company has notable clients including Xiaomi and Google [18][20]. - Suzhou Tianmai (301626) is recognized for its comprehensive thermal management solutions, with products like thermal interface materials and heat pipes, serving major clients in the telecommunications and new energy vehicle sectors [22][23]. - Zhongshi Technology (300684) specializes in high-performance synthetic graphite thermal solutions, becoming a core supplier for top global consumer electronics brands like Apple. The company reported a revenue of 1.566 billion in 2024, with a 24.51% year-on-year increase [26][28]. - Lingyi Zhi Zao (002600) provides intelligent manufacturing services, with thermal management business revenue reaching 4.107 billion in 2024, reflecting a 9.20% increase from the previous year [30][34]. - AAC Technologies (02018) reported a significant growth of 40.1% in its thermal business, achieving a revenue of 326 million in 2024, and holds over 50% market share in the domestic flagship smartphone thermal market [35]. - Shuo Beid (300322) offers thermal products and reported a revenue of 1.86 billion in 2024, with a 12.37% increase from the previous year [36]. Group 2: Financial Performance - Feirongda's 2024 revenue reached 5.03 billion, with a net profit of 173 million, reflecting a 15.76% year-on-year growth [17]. - Siquan New Materials achieved a revenue of 656 million in 2024, marking a 51.10% increase compared to the previous year [21]. - Suzhou Tianmai reported a revenue of 943 million in 2024, with a slight increase of 1.62% year-on-year [25]. - Zhongshi Technology's revenue for 2024 was 1.566 billion, showing a 24.51% increase from 2023 [29]. - Lingyi Zhi Zao's total revenue for 2024 was 442 billion, with a 29.56% increase from the previous year [34]. - AAC Technologies' thermal business revenue reached 326 million in 2024, reflecting a 40.1% growth [35]. - Shuo Beid's revenue for 2024 was 1.857 billion, with a 12.37% increase from the previous year [36].

Market Overview - On September 19, the consumer electronics sector rose by 1.23%, with Suzhou Tianmai leading the gains [1] - The Shanghai Composite Index closed at 3820.09, down 0.3%, while the Shenzhen Component Index closed at 13070.86, down 0.04% [1] Top Gainers in Consumer Electronics - Suzhou Tianmai (301626) closed at 137.79, up 11.55% with a trading volume of 57,400 shares and a transaction value of 783 million yuan [1] - Dongni Electronics (603595) closed at 26.16, up 6.73% with a trading volume of 303,100 shares [1] - Hanzhi Technology (301491) closed at 71.26, up 4.92% with a trading volume of 75,000 shares [1] - Other notable gainers include Tianjian Co. (301383), Luxshare Precision (002475), and Huqin Technology (603296) with respective increases of 4.59%, 4.33%, and 3.87% [1] Top Losers in Consumer Electronics - Kosen Technology (603626) saw a significant drop of 10.00%, closing at 15.93 with a trading volume of 1,977,100 shares and a transaction value of 3.394 billion yuan [2] - Changying Precision (300115) fell by 8.90%, closing at 31.43 with a transaction value of 6.661 billion yuan [2] - Other notable declines include Hongxi Technology (871857) and Tonglian Precision (688210) with decreases of 7.98% and 7.62% respectively [2] Capital Flow Analysis - The consumer electronics sector experienced a net outflow of 1.852 billion yuan from institutional investors, while retail investors saw a net inflow of 1.91 billion yuan [2] - Notable net inflows from retail investors were observed in Luxshare Precision (002475) with 1.141 billion yuan, and Huqin Technology (603296) with 130 million yuan [3] - Conversely, Dongni Electronics (603595) and Suzhou Tianmai (301626) experienced net outflows from institutional and retail investors [3]

Market Overview - The Shanghai Composite Index closed at 3820.09 points, below the five-day moving average, with a decline of 0.30% [1] - The total trading volume of A-shares reached 23494.13 billion [1] Stocks Performance - A total of 489 A-shares broke through the five-day moving average today [1] - Stocks with significant deviation rates include: - Green Island Wind (14.12%) - Tianshan Electronics (13.76%) - Yuma Technology (13.62%) [1] Top Gainers - The top three stocks with the highest daily gains are: - Green Island Wind: +20.01% with a turnover rate of 9.61% [1] - Tianshan Electronics: +19.98% with a turnover rate of 28.46% [1] - Yuma Technology: +20.02% with a turnover rate of 15.56% [1] Additional Notable Stocks - Other notable stocks that recently crossed the five-day moving average include: - Infitec: +14.14% [1] - Wanlima: +11.62% [1] - Wuxin Tunnel Equipment: +11.57% [1] - Stocks with smaller deviation rates that just crossed the five-day moving average include: - Langke Technology: +10.03% [1] - Morningstar Aviation: +10.00% [1] - Baiyun Airport: +10.00% [1] [2]

Market Overview - The Shanghai Composite Index closed at 3817.23 points, below the five-day moving average, with a decline of 0.38% [1] - The total trading volume of A-shares reached 1,922.39 billion yuan [1] Stocks Performance - A total of 365 A-shares broke through the five-day moving average today [1] - The stocks with the largest deviation rates include: - Green Island Wind (14.12%) - Yuma Technology (13.62%) - Tianshan Electronics (10.03%) [1] - Stocks with smaller deviation rates that just crossed the five-day moving average include: - Huaguang Source Sea - Guangli Technology - Taiji Co., Ltd. [1] Notable Stocks - Green Island Wind (301043) saw a price increase of 20.01% with a turnover rate of 9.51% [1] - Yuma Technology (300993) increased by 20.02% with a turnover rate of 15.44% [1] - Tianshan Electronics (301379) rose by 14.95% with a turnover rate of 20.34% [1] - Other notable stocks include: - Wanlima (300591) up by 13.05% - Wuxin Tunnel Equipment (835174) up by 13.20% [1]

Group 1 - The core point of the article is that Suzhou Tianmai (301626.SZ) has announced a restricted stock incentive plan for 2025, proposing to grant a total of 1.28 million restricted shares, which accounts for 1.107% of the company's total share capital prior to the announcement of this plan [1] - The plan includes an initial grant of 1.081 million shares and a reserve of 199,000 shares, with the initial grant price set at 65 yuan per share [1] - The validity period of the incentive plan is from the date of granting the restricted shares until all granted shares are vested or become void, with a maximum duration of 60 months [1]

Group 1 - The core point of the article is that Suzhou Tianmai (301626.SZ) announced a restricted stock incentive plan for 2025, proposing to grant a total of up to 1.28 million shares to incentive targets, which accounts for 11.05% of the company's total share capital of 11.568 million shares prior to the announcement of the plan [1]

证券代码：301626 证券简称：苏州天脉 公告编号：2025-033 苏州天脉导热科技股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 苏州天脉导热科技股份有限公司（以下简称"公司"）于 2025 年 9 月 18 日召开第三届董事会第十一次会议，审议通过了《关于召开 2025 年第二次临时 股东会的议案》，决定于 2025 年 10 月 10 日召开公司 2025 年第二次临时股东会， 现将本次股东会的有关事项通知如下： 一、召开会议的基本情况 1、股东会届次：2025 年第二次临时股东会 2、股东会召集人：公司第三届董事会 关于召开 2025 年第二次临时股东会通知的公告 4、会议召开的日期、时间： (1) 现场会议时间：2025 年 10 月 10 日（星期五）下午 14:00 3、会议召开的合法、合规性：经公司第三届董事会第十一次会议审议通过， 公司决定召开 2025 年第二次临时股东会。本次会议召集程序符合有关法律、行 政法规、部门规章、规范性文件和《苏州天脉导热科技股份有限公司章程》的规 定。 (2) 网络投票时间： 通过深圳证券交易 ...

苏州天脉导热科技股份有限公司 第三届董事会第十一次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 苏州天脉导热科技股份有限公司（以下简称"公司"）第三届董事会第十一 次会议于 2025 年 9 月 18 日在公司会议室以现场和通讯相结合的方式召开。会议 通知于 2025 年 9 月 17 日以通讯方式发出，全体董事一致同意豁免本次会议提前 通知时限的要求。本次会议应出席董事 7 人，实际出席董事 7 人（其中蔡栋梁先 生、潘翠英女士通过通讯方式参加会议，其他董事现场出席会议），会议由董事 长谢毅先生主持。本次会议的召集、召开程序符合相关法律、行政法规、部门规 章、规范性文件和《苏州天脉导热科技股份有限公司章程》（以下简称"《公司 章程》"）的规定。 二、董事会审议情况 证券代码：301626 证券简称：苏州天脉 公告编号：2025-032 经与会董事认真审议，形成了如下决议： 1、审议通过《关于公司 2025 年限制性股票激励计划（草案）及其摘要的 议案》 为了进一步健全公司长效激励机制，吸引和留住优秀人才，充分调动公司核 ...

Group 1 - Suzhou Tianmai announced that its 11th meeting of the 3rd board of directors will be held on September 18, 2025, combining in-person and remote participation [1] - The meeting will review the proposal for the second extraordinary shareholders' meeting of 2025 and other related documents [1]

苏州天脉导热科技股份有限公司 2025 年限制性股票激励计划（草案）摘要 证券简称：苏州天脉 证券代码：301626 苏州天脉导热科技股份有限公司 2025 年限制性股票激励计划 （草案）摘要 苏州天脉导热科技股份有限公司 二〇二五年九月 苏州天脉导热科技股份有限公司 2025 年限制性股票激励计划（草案）摘要 声明 本公司及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 本公司所有激励对象承诺，公司因信息披露文件中有虚假记载、误导性陈述 或者重大遗漏，导致不符合授予限制性股票或限制性股票归属安排的，激励对象 应当自相关信息披露文件被确认存在虚假记载、误导性陈述或者重大遗漏后，将 由本激励计划所获得的全部利益返还公司。 1 苏州天脉导热科技股份有限公司 2025 年限制性股票激励计划（草案）摘要 特别提示 一、《苏州天脉导热科技股份有限公司 2025 年限制性股票激励计划（草案）》 （以下简称"本激励计划"）由苏州天脉导热科技股份有限公司（以下简称"苏 州天脉"、"公司"或"本公司"）根据《中华人民共和国公司法》《中华人民 共和国证券法 ...