先导基电：公司长期看好铋材料的发展前景

Core Viewpoint - The company is optimistic about the long-term prospects of bismuth materials, driven by a tight supply side and growing demand in emerging applications such as electronics, semiconductors, new energy, and nuclear industries [1] Supply and Demand Dynamics - The global supply of bismuth materials is overall tight, while the demand side continues to improve [1] - Recent data from Shanghai Metals Market (SMM) indicates that the price of refined bismuth rose again in December, maintaining a range of 120,000 to 130,000 yuan per ton [1] Business Strategy - The company employs a flexible inventory strategy, actively stabilizes production expansion to achieve scale effects, and explores high-potential downstream customers [1] - The construction of a stable upstream supply chain is also a focus to enhance the overall profitability of the bismuth business [1] Market Position - Based on current production capacity and sales, the company holds a leading position in the bismuth materials market for the year [1]