证券代码：920106 证券简称：林泰新材 公告编号：2025-128 江苏林泰新材科技股份有限公司 关于控股股东、实际控制人及其一致行动人权益变动触及 1%整数倍 的提示性公告 截止到 2025 年 11 月 18 日，公司控股股东、实际控制人刘健持有公司股票 11,701,127 股，持股比例为 20.96%；实际控制人宋苹苹持有公司股票 35,000 股，持股比例为 0.06%；一致行动人无锡爱思达投资企业（有限合伙）持有公司 股票 3,669,778 股，持股比例为 6.57%；一致行动人无锡鎏泰企业管理合伙企业 （有限合伙）持有公司股票 839,042 股，持股比例为 1.50%。以上股东合计持有 公司股票 16,244,947 股，持股比例为 29.10%。 2025 年 11 月 19 日，因公司股权激励计划限制性股票授予登记，公司总股 本由55,828,500股变更为56,593,500股，股权激励计划限制性股票授予登记后， 宋苹苹女士获授限制性股票 90,000 股。刘健、宋苹苹、无锡爱思达投资企业（有 限合伙）、无锡鎏泰企业管理合伙企业（有限合伙）合计持有公司股票 16,334,947 股 ...

证券代码：920106 证券简称：林泰新材 公告编号：2025-127 江苏林泰新材科技股份有限公司 2025 年限制性股票激励计划授予结果公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别 及连带法律责任。 一、限制性股票授予结果 | 序号 | 姓名 | 职务 | 获授限制性 股票数量（万 | 占拟授予限 制性股票总 | 占激励计划 草案公告日 | | --- | --- | --- | --- | --- | --- | | | | | 股） | 量的比例 | 股本总额的 比例 | | 1 | 宋苹苹 | 董事 | 9.00 | 11.7647% | 0.1612% | | 2 | 骆从明 | 副总经理 | 23.00 | 30.0654% | 0.4120% | | 3 | 范今华 | 董事 | 3.00 | 3.9216% | 0.0537% | | 4 | 沈建波 | 副总经理、董事会秘 书、财务负责人 | 3.00 | 3.9216% | 0.0537% | | | 核心员工（33 | 人） | 38.5 ...

Group 1 - The core focus of Lin Tai New Materials is on the research, development, production, and sales of automatic transmission friction plates, particularly wet paper-based friction plates, which are used in various applications including passenger vehicles, commercial vehicles, engineering machinery, and special vehicles [2] - The company is currently conducting R&D in specialized vehicles and low-altitude aircraft, with samples of wet paper-based friction plates for missile vehicle power take-off already submitted, although no revenue has been generated yet [2] - Lin Tai New Materials has submitted friction plate products for flying car projects to customers for testing, but has not yet realized any related revenue [2] Group 2 - The company aims to expand the application of its wet paper-based friction material technology across different scenarios, optimizing material formulations and production processes to meet diverse requirements [3] - Lin Tai New Materials is actively exploring R&D in other key core materials to identify new growth opportunities [3] - The company indicated that it is in a rapid growth phase and will consider refinancing based on actual development conditions and strategic needs [3]

证券代码：920106 证券简称：林泰新材 公告编号：2025-126 江苏林泰新材科技股份有限公司 投资者关系活动记录表 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、 投资者关系活动类别 □特定对象调研 √业绩说明会 □媒体采访 □现场参观 □新闻发布会 □分析师会议 □路演活动 □其他 二、 投资者关系活动情况 活动时间：2025 年 11 月 14 日 活动地点：价值在线（https://www.ir-online.cn/）网络互动 参会单位及人员：通过网络方式参加公司 2025 年第三季度业绩说明会的全 体投资者。 上市公司接待人员：公司董事长刘健先生；副总经理、财务负责人、董事会 秘书沈建波先生；保荐代表人郑立人先生。 三、 投资者关系活动主要内容 本次业绩说明会公司通过网络文字互动交流的方式就投资者关心的问题进 行了回答，主要问题及回复概要如下： 1、请展望一下纸基湿式摩擦片今后的发展方向，以及贵公司在研发方面的 回答：公司湿式纸基摩擦片除了在乘用车、商用车、工程机械、高端农机领 域 ...

Group 1 - The report highlights that the Beijing Stock Exchange (BSE) has evolved from a "testing ground" to a main battleground for specialized and innovative enterprises, with 282 listed companies and a total market capitalization of 900.835 billion yuan as of November 14, 2025 [2][12][14] - Among the listed companies, 254 are classified as specialized and innovative "little giants," accounting for 90.07% of the total, with 152 being national-level little giants [2][33] - The report identifies key industry chains within the BSE, including smart connected new energy vehicles, hydrogen energy, new materials, innovative pharmaceuticals, and artificial intelligence [2][38] Group 2 - The BSE's market performance shows a decline in the North BSE 50 index, which reported 1,514.20 points, with a TTM PE ratio of 71.80X, while the specialized and innovative index reported 2,500.55 points with a TTM PE of 80.59X [3][62][66] - The average market capitalization of BSE companies is lower than that of the ChiNext and STAR Market, with the average market cap at 31.94 million yuan compared to 126.11 million yuan and 175.43 million yuan respectively [22][23] - The report notes that the liquidity of the BSE has improved, with the turnover rate now higher than that of the STAR Market and slightly above the ChiNext [41][42][47] Group 3 - The report indicates that the IPO review process is active, with two companies approved and three pending approval, reflecting a steady increase in the number of companies entering the market [3][28] - The report emphasizes the growing interest from public funds in the BSE, with 39 public institutions investing in BSE stocks by mid-2025, marking a significant increase in both the number of institutions and the amount invested [45][46] - The BSE is expected to enhance its index system and introduce the North BSE 50 ETF, which could further improve liquidity and attract more institutional investors [50][51]

Group 1 - The report highlights the steady expansion of the Beijing Stock Exchange (BSE) market, with the number of listed companies increasing to 282 and total market capitalization approaching 1 trillion yuan, with over 50% being national-level "little giant" enterprises in specialized and innovative sectors [2][5][22] - Daily trading volume has surged from 2 billion yuan to nearly 30 billion yuan, indicating improved pricing efficiency and liquidity [2][5][22] - The number of qualified investors has reached nearly 9.5 million, with institutional funds such as public funds and social security funds accelerating their investments, marking a significant shift towards long-term capital in the market [2][5][22] Group 2 - The BSE has entered a new phase with the simultaneous operation of the North Certificate 50 and specialized and innovative indices, with expectations for the early issuance of specialized and innovative index funds [2][5][22] - The report suggests continued focus on the construction of the BSE index system and the launch of the North Certificate 50 ETF, which is anticipated to attract incremental capital [2][5][22] - The report identifies several key investment themes, including the promotion of public fund products targeting small and medium-sized stocks, and sectors with strong policy support and growth certainty, such as lithium batteries, energy storage, and AI power [2][5][22] Group 3 - The overall price-to-earnings (PE) ratio for BSE A-shares remains at 49X, with a slight decline in PE ratios across various boards, indicating a cooling market sentiment [10][11][22] - The average PE ratio for newly listed companies from January 1, 2024, to November 14, 2025, is 13.76X, with an average first-day price fluctuation of 264% [21][24][22] - The report notes that two companies passed the review and one company registered during the week, indicating a normalization in the IPO process on the BSE [22][16]

证券代码：920106 证券简称：林泰新材 公告编号：2025-125 公司董事长：刘健先生 江苏林泰新材科技股份有限公司 2025 年第三季度业绩说明会预告公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、 说明会类型 江苏林泰新材科技股份有限公司（以下简称"公司"）已于 2025 年 10 月 30 日在北京证券交易所指定信息披露平台（http://www.bse.cn）披露了《2025 年 三季度报告》（公告编号 2025-123）。为便于广大投资者更加全面深入地了解公 司 2025 年三季度经营业绩的具体情况，公司定于 2025 年 11 月 14 日（星期五） 15:00-16:00 在"价值在线"（www.ir-online.cn）举办江苏林泰新材科技股份 有限公司 2025 年第三季度业绩说明会，与投资者进行沟通和交流，广泛听取投 资者的意见和建议。 二、 说明会召开的时间、地点 （一）会议召开时间：2025 年 11 月 14 日（星期五）15:00-16:00。 （二）会议召开 ...

Investment Rating - The report indicates a positive outlook for the industry, suggesting a focus on sectors with significant growth potential and strong domestic alternatives [4][29]. Core Insights - The market is currently experiencing a structural shift, with consumer sectors leading gains while growth sectors like computing hardware are under pressure. This reflects a broader risk-averse sentiment in the A-share market [4]. - Recent government policies aimed at promoting private investment in key sectors such as low-altitude economy and commercial aerospace are expected to benefit specialized and innovative companies in the North Exchange [4]. - The balance of market conditions is characterized by supportive policies and short-term emotional consolidation, creating opportunities for specialized companies, particularly in high-end manufacturing and renewable energy [4]. Summary by Sections Market Review - On November 10, the North Exchange A-share trading volume reached 20.18 billion yuan, a decrease of 1.314 billion yuan from the previous trading day. The North Exchange 50 Index closed at 1512.52, down 0.67%, with a PE_TTM of 71.78 times. The specialized and innovative index closed at 2506.89, down 0.99% [2][9]. - Among 282 companies listed, 127 saw gains, 10 remained flat, and 145 experienced declines. The top five gainers included Taipeng Intelligent (+13.6%) and Anda Technology (+13.0%), while the top five losers included Fangsheng Co. (-5.4%) and Haidar (-4.6%) [2][17][18]. Important News - The National Development and Reform Commission and the National Energy Administration issued guidelines to enhance renewable energy consumption and control, aiming for a multi-level consumption regulation system by 2030 [20]. - The State Council released measures to encourage private investment in projects such as railways and nuclear power, allowing private capital to hold over 10% in qualifying projects [21]. Company Announcements - Boshun Bio announced the purchase of wealth management products amounting to 20 million yuan using idle funds [22]. - Iron Tuo Machinery's major shareholder plans to reduce holdings by 1.05 million shares, accounting for 1.14% of total equity [23]. - Qianjin Technology reported using 45 million yuan of idle raised funds for cash management [24].

Core Viewpoint - The performance of companies listed on the Beijing Stock Exchange shows significant differentiation, with many emerging sectors like semiconductors, robotics, new energy, aerospace, and biomedicine demonstrating strong growth potential and long-term confidence despite short-term profit pressures [1][2]. Financial Performance - Companies on the Beijing Stock Exchange have shown a clear divergence in financial performance for the first three quarters, with some achieving revenue and profit growth through product optimization and market expansion, while others faced profit declines due to increased competition and costs [2]. - Tonghui Electronics reported a revenue of 151 million yuan, a year-on-year increase of 16.37%, and a net profit of 44.14 million yuan, up 59.36%, driven by high-end product demand and production efficiency [2]. - Xingtou Measurement and Control has provided services for over 300 satellites, with a contract liability growth of 177.26% compared to the beginning of the year, indicating a steady business scale increase [2]. Industry Trends - Companies are focusing on high-growth sectors such as semiconductors, robotics, new energy, aerospace, and biomedicine, leveraging technological innovation and global expansion to strengthen long-term competitiveness [4]. - Fengguang Precision has successfully entered the robotics supply chain with its harmonic reducers and is expanding its semiconductor equipment client base [4]. - Tongli Co. is targeting overseas markets, particularly in Africa, Central Asia, and South America, with significant sales growth in its new energy mining vehicles [4]. New Material Developments - Minshida's aramid paper products are being increasingly applied in high-end sectors like aerospace and high-speed rail, with a new production line expected to enhance capacity [5]. - Lintai New Materials is advancing its product development in automotive friction materials and other new products, with expected revenue contributions in the near future [5]. - Xingtou Measurement and Control is building an AI-driven intelligent computing platform to enhance satellite operations and space traffic management [5]. Global Expansion Efforts - Companies are accelerating capacity construction and overseas expansion, with Fangsheng's Malaysian subsidiary expected to add significant production capacity by the end of 2025 [6]. - Tonghui Electronics has registered its German subsidiary, which is set to commence operations in the fourth quarter, aiding in overseas business growth [6]. - Lingge Technology is progressing on its material handling equipment manufacturing base, with completion expected in early 2026 [6].

Group 1 - The North Exchange 50 Index and the Specialized and Innovative Index will undergo adjustments on December 15, 2025, with the North Exchange 50 Index experiencing its fourth adjustment and the Specialized and Innovative Index its first adjustment [10][12][15] - The North Exchange 50 Index closed at 1,522.73 points, reflecting a weekly decline of 3.79%, while the Specialized and Innovative Index closed at 2,532.06 points, down 5.43% [31][32] - The report emphasizes the importance of focusing on high-quality stocks and technology growth within the North Exchange 50 components, particularly those that have undergone significant price adjustments [3][42] Group 2 - The report identifies potential new additions to the North Exchange 50 Index, including companies such as Kaifa Technology, Gobika, and Wantong Hydraulic, with a focus on their average market capitalization and trading volume [12][13] - The North Exchange Specialized and Innovative Index is expected to include companies like Star Map Measurement and Senxuan Pharmaceutical, highlighting their market performance and growth potential [15][16] - The report suggests that the North Exchange's valuation structure shows a significant number of companies with high P/E ratios, indicating a potential investment opportunity in undervalued stocks [21][36][41] Group 3 - The report indicates that the average P/E ratio for key sectors such as high-end equipment, information technology, and chemical new materials are 42.83X, 91.31X, and 48.18X respectively, suggesting varying levels of valuation across industries [36][41] - The North Exchange's market performance shows a decline in trading volume, with an average daily turnover of 230.88 billion yuan, down 20.36% from the previous week [26][30] - The report highlights the importance of monitoring companies with strong quarterly performance and reasonable valuations as the North Exchange approaches its index adjustments [42][43]