新材料行业月报：日本EDP发售1英寸金刚石单晶晶圆，七部门提出设立国家创业投资引导基金-20250530

Investment Rating - The report maintains an investment rating of "Outperform" for the new materials industry [7][20]. Core Insights - The new materials sector underperformed the CSI 300 index in May, with a 1.09% increase compared to the CSI 300's 1.74% [7][11]. - The new materials index's PE (TTM, excluding negative values) is 23.92 times, which is a 2.32% increase from the previous month and is at the 64.80% percentile of historical valuations since 2022, indicating reasonable valuation levels [7][20]. - The sector is expected to continue growing due to increasing demand from China's manufacturing industry and the integration of technologies like artificial intelligence [7][20]. Summary by Sections 1. Industry Performance Review - The new materials index's performance in May was weaker than the CSI 300, ranking 23rd among 30 sectors [7][11]. - The trading volume for the new materials sector was 707.59 billion yuan, a decrease of 21.51% month-on-month [7][11]. 2. Key Industry Data Tracking - Basic metals prices mostly increased in May, with copper up by 0.79% and aluminum by 1.29% [7][36]. - Global semiconductor sales reached 55.90 billion USD in March, marking an 18.8% year-on-year increase [7][41]. - Exports of superhard materials increased by 22.88% in volume but decreased by 2.69% in value in April [7][41]. - Rare gas prices saw a slight decline in May, with helium priced at 655 yuan per bottle [7][36]. 3. Industry Dynamics - The report highlights the establishment of a national venture capital guidance fund by seven departments, which may support the new materials sector [7]. - The report notes the development of a 30x30mm diamond monocrystal by Japan's EDP company, showcasing innovation in the sector [7]. 4. Investment Recommendations - The report suggests that the new materials sector may gradually enter a prosperous cycle due to domestic demand recovery and the push for domestic substitution [7][20].