新材料行业月报：美国Coherent推出金刚石-SiC复合材料，5月超硬材料及其制品出口量增价减-20250627

Investment Rating - The report maintains an investment rating of "Outperform the Market" for the new materials industry [6][20]. Core Insights - The new materials sector outperformed the CSI 300 index in June, with the new materials index rising by 6.91%, surpassing the CSI 300's increase of 3.12% by 3.79 percentage points [6][11]. - The sector's valuation has increased, with the new materials index's PE (TTM, excluding negative values) at 24.72 times, reflecting a 2.21% month-on-month increase and positioning it at the 73.60% percentile of historical valuations since 2022 [20][21]. - The growth in demand for new materials is expected to continue, driven by the expansion of China's manufacturing sector and the integration of technologies such as artificial intelligence [6][20]. Summary by Sections 1. Industry Performance Review - The new materials index showed strong performance in June, ranking 7th among 30 first-level industries [6][11]. - The trading volume for the new materials sector was 770.24 billion yuan, with a slight decrease of 0.30% month-on-month [6][11]. - Most stocks in the new materials sector rose in June, with 144 out of 170 stocks increasing in value [15][16]. 2. Key Industry Data Tracking - Basic metal prices mostly increased in June, with copper up by 1.27% and aluminum by 2.29% [6][35]. - Global semiconductor sales continued to grow, with April 2025 sales reaching $56.96 billion, a year-on-year increase of 22.7% [40][41]. - The export volume of superhard materials increased by 5.06% in May, although the export value decreased by 11.49% [6][40]. 3. Industry Dynamics - The report highlights the stability in rare gas prices as of June 25, 2025, with no significant fluctuations [6][39]. - The semiconductor materials sector is experiencing a low valuation, with a PE of 55.89 times, indicating potential investment opportunities [21][40]. - The report notes that the new materials sector is expected to enter a prosperous cycle as domestic demand continues to recover and domestic substitution progresses [6][20].