有研粉材：2025年公司市值累计涨跌幅达104%

Group 1 - The core viewpoint of the article highlights that the stock price fluctuations of the company are influenced by a combination of external factors such as macroeconomic conditions and industry development, as well as internal factors including the company's fundamentals and market sentiment [2] - The company reported a cumulative stock price increase of 104% by 2025, significantly outperforming the Sci-Tech Innovation 50 index [2] - In 2026, the company plans to continue enhancing shareholder value through measures such as adjusting product structure, improving profitability, strengthening investor communication, and expanding brand influence [2]