Investment Rating - The report maintains an investment rating of "Outperform the Market" for the new materials industry [2][6]. Core Insights - The new materials index outperformed the CSI 300 index in December 2025, with a rise of 7.20% compared to the CSI 300's 2.49%, marking a 4.71 percentage point difference [6][11]. - The semiconductor materials sector continues to show strong growth, with global semiconductor sales reaching $72.71 billion in October 2025, a year-on-year increase of 27.2% [37][38]. - The export volume and value of superhard materials, particularly industrial diamonds, increased in November 2025, with exports rising by 0.27% year-on-year and export value increasing by 26.17% [45]. Summary by Sections Industry Performance Review - The new materials index showed a strong performance in December, with a total trading volume of CNY 19,806.43 billion, reflecting a 15.89% decrease from the previous month [6][11]. - Most stocks in the new materials sector rose in December, with notable increases in carbon fiber and other metal new materials, which saw monthly gains of 33.95% and 16.42%, respectively [15][16]. Important Industry Data Tracking - Basic metal prices generally increased in December 2025, with copper prices rising by 10.57% on the Shanghai Futures Exchange [32][35]. - The consumer price index (CPI) showed a year-on-year increase of 0.7% in November 2025, indicating a recovery in consumer spending [25][26]. Industry Dynamics - The establishment of the humanoid robot standard committee in Beijing marks a significant development in the new materials sector, focusing on applications in thermal management [1]. - The report highlights the ongoing demand for new materials driven by advancements in artificial intelligence and the recovery of downstream industries, suggesting a potential growth cycle for the domestic new materials sector [6][20].
新材料行业月报：人形机器人标委会在北京成立，功能金刚石迎来首个团体标准聚焦热沉应用-20251230
Zhongyuan Securities·2025-12-30 08:40