Group 1: New Materials Industry Outlook - The new materials sector is expected to continue its growth due to increasing demand from China's manufacturing industry and the integration of technologies like artificial intelligence [1] - The domestic new materials sector is anticipated to gradually enter a prosperous cycle driven by domestic substitution and recovery in downstream demand, maintaining a "stronger than the market" investment rating [1] Group 2: Semiconductor Materials - Global semiconductor sales reached $59.91 billion in June 2025, marking a year-on-year increase of 19.6% and a month-on-month increase of 1.5%, continuing a 20-month streak of year-on-year growth [1] - China's semiconductor sales amounted to $17.24 billion, with a year-on-year growth of 13.1% and a month-on-month growth of 0.8%, also achieving 20 consecutive months of year-on-year growth [1] - The U.S. has revised export regulations, imposing stricter controls on AI chip sales and EDA software exports to China, highlighting the urgent need for self-sufficiency in the semiconductor supply chain [2] Group 3: Superhard Materials - In July, China's exports of superhard materials and products increased by 2.29% year-on-year to 15,100 tons, while export value decreased by 13.31% to $14.5 million [3] - The average export price of superhard materials fell by 15.25% year-on-year to $9.58 per kilogram [3] - The traditional superhard materials sector is facing pressure due to weak global demand, but advancements in functional diamond technology are opening new applications in semiconductor, military, and optical fields [3] Group 4: Specialty Gases - As of August 27, 2025, prices for rare gases showed a slight decline, with helium priced at 614 RMB per bottle (-3.07%) and xenon at 24,500 RMB per cubic meter (-3.56%) [4] - The semiconductor industry continues to drive demand for specialty gases, with integrated circuit production increasing by 15% year-on-year in July 2025 [4] - However, the production of optical fibers has decreased, which may limit the demand for helium [4]
中原证券:新材料板块或迎来景气周期 维持行业“强于大市”评级