Core Viewpoint - Fuda Alloy (603045.SH) has announced the termination of its acquisition of Zhejiang Guangda Electronic Technology Co., Ltd. after multiple delays in responding to inquiries from the stock exchange, potentially influenced by a patent lawsuit against Guangda Electronic [1][3]. Group 1: Acquisition Details - Fuda Alloy planned to acquire 52.61% of Guangda Electronic's shares for a cash consideration of 350 million yuan, aiming to become the controlling shareholder and consolidate Guangda's financials [3]. - The acquisition was initially disclosed in September, but faced scrutiny from the stock exchange regarding the rationale for the acquisition and the declining performance of Guangda Electronic [6]. Group 2: Legal Challenges - The acquisition was complicated by a patent infringement lawsuit filed by Dike Co., Ltd. against Guangda Electronic, which was accepted by the court in November [3][5]. - Dike's lawsuit centers on alleged infringement of a patent related to thick film pastes used in semiconductor devices, which is critical in the photovoltaic silver paste industry [5][8]. Group 3: Patent Implications - The patent in question, owned by Dike's subsidiary, covers a broad range of materials used in semiconductor manufacturing, making it a foundational patent in the industry [5][8]. - Guangda Electronic has counter-sued Dike, claiming the lawsuit is malicious and exceeds reasonable bounds, but the court rejected its jurisdictional objections [6][12]. Group 4: Market Context - Guangda Electronic's projected revenue from photovoltaic silver paste is significant, with estimates showing that it will account for 87.94% of its main revenue in 2023, increasing to 99.56% by mid-2025 [13]. - The ongoing patent disputes may pose risks to Guangda's future revenue projections, particularly concerning its products that fall under the patent's scope [14].

Core Viewpoint - Fuda Alloy (603045.SH) has announced the termination of its acquisition of Zhejiang Guangda Electronic Technology Co., Ltd. after multiple delays in responding to inquiries from the stock exchange, potentially influenced by a patent lawsuit involving the target company [1][3]. Group 1: Acquisition Details - Fuda Alloy planned to acquire 52.61% of Guangda Electronic for a cash consideration of 350 million yuan, aiming to become the controlling shareholder and consolidate Guangda's financials [3]. - The acquisition was initially disclosed in September, but faced scrutiny from the stock exchange regarding the rationale for the acquisition, particularly due to declining performance of the target [5]. Group 2: Patent Litigation Impact - The termination of the acquisition may be linked to a patent lawsuit initiated by Dike Co., Ltd. against Guangda Electronic, alleging infringement of a patent related to semiconductor materials [3][5]. - Dike's subsidiary, Zhejiang Suote Material Technology Co., Ltd., has been involved in this legal dispute, which has raised concerns about Guangda's long-term business potential due to the ongoing litigation [3][11]. Group 3: Patent Details and Implications - The patent in question, owned by Dike, covers a broad range of materials used in semiconductor manufacturing, which could significantly impact Guangda's operations and market position [6][11]. - Guangda Electronic's sales from photovoltaic silver paste are projected to constitute a significant portion of its revenue in the coming years, raising concerns about the sustainability of its business model amid the patent disputes [11][12]. Group 4: Industry Context - The acquisition landscape in the photovoltaic silver paste industry is characterized by a focus on building patent barriers, as seen in Dike's acquisition of Zhejiang Suote, which aimed to enhance its market share through a robust patent portfolio [8][10]. - Historical patterns indicate that patent disputes in this sector often lead to settlements, suggesting that Guangda may face similar pressures in the future [10].

证券日报网讯12月17日，聚和材料在互动平台回答投资者提问时表示，目前韩国收购事宜一切按计划进 行，根据SK enpulse公司在2025年12月1日披露的信息，空白掩模(Blank Mask)业务板块已完成分立，成 立新公司Lumina Mask株式会社。待收购完成后公司会及时履行信息披露义务，敬请关注公司后续披露 的公告。 ...

Core Insights - The article highlights the rapid growth and technological advancements of Changzhou Juhe New Materials Co., Ltd., which has become a leading player in the photovoltaic conductive silver paste market, achieving a market share that ranks first globally [1][2] - The company has developed key technologies that break the foreign monopoly on conductive silver paste, which is crucial for the efficiency of solar cells [1] Company Overview - Changzhou Juhe New Materials Co., Ltd. operates a state-of-the-art clean production facility capable of producing 3,000 tons of conductive silver paste annually, which is essential for solar cell manufacturing [1] - The company was founded by Liu Haidong, who emphasized the importance of developing core technologies to reduce reliance on foreign materials [1] Financial Performance - From 2022 to 2024, the company is projected to achieve cumulative revenue of 29.282 billion yuan, with annual revenues exceeding 10 billion yuan for two consecutive years, reflecting a compound annual growth rate of 23.97% [2] - Cumulative net profit is expected to reach 1.242 billion yuan, with total taxes paid exceeding 426 million yuan [2] Market Position - In 2021, the company was reported to have the largest market share in the photovoltaic conductive silver paste sector, maintaining this position for two consecutive years [2] - The company successfully went public on the STAR Market in December 2022, with a market valuation exceeding 10 billion yuan, marking its emergence as a significant player in the new materials sector in China [2] Strategic Expansion - Liu Haidong has guided the company to expand beyond the photovoltaic sector into high-end electronic materials, targeting industries such as telecommunications, automotive electronics, and semiconductors [2] - The company aims to leverage its expertise in paste materials to innovate and provide solutions across various strategic emerging industries [2]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券日报网讯 12月17日，聚和材料在互动平台回答投资者提问时表示，目前韩国收购事宜一切按计划 进行，国内相关产能的建设规划正在逐步开展中，待收购完成后公司会及时履行信息披露义务。 登录新浪财经APP 搜索【信披】查看更多考评等级 证券日报网讯 12月17日，聚和材料在互动平台回答投资者提问时表示，目前韩国收购事宜一切按计划 进行，国内相关产能的建设规划正在逐步开展中，待收购完成后公司会及时履行信息披露义务。 （文章来源：证券日报） （文章来源：证券日报） ...

证券日报网讯12月17日，聚和材料在互动平台回答投资者提问时表示，近期公司股东户数变化不大。 ...

Core Viewpoint - The company is progressing as planned with its acquisition project in South Korea, and it is preparing for domestic capacity construction following the acquisition completion [1] Group 1 - Investors inquired about the status of the company's acquisition project in South Korea, specifically whether the business registration was successful as of December 3 [1] - The company confirmed that all aspects of the acquisition are proceeding according to schedule and that it will fulfill its information disclosure obligations once the acquisition is completed [1] - The company is gradually advancing its domestic capacity construction plans in conjunction with the acquisition [1]

常州聚和新材料股份有限公司 简式权益变动报告书 股票简称： 聚和材料 股票代码： 688503 | 信息披露义务人： | 陈耀民 | | --- | --- | | 住所及通讯地址： | 上海市虹口区****** | | 股份变动性质： | 股份减少（集中竞价、大宗交易、询价转让） | 签署日期：2025年12月15日 上市公司名称： 常州聚和新材料股份有限公司 股票上市地点： 上海证券交易所 信息披露义务人声明 一、信息披露义务人根据《中华人民共和国证券法》（以下简称"《证券 法》"）《上市公司收购管理办法》（以下简称"《收购办法》"）《公开发行证券 的公司信息披露内容与格式准则第 15 号——权益变动报告书》（以下简称"《准 则 15 号》"）等相关的法律、法规及规范性文件编写本报告书。 二、信息披露义务人签署本报告书已获得必要的授权和批准，其履行亦不 违反信息披露义务人内部规则中的任何条款，或与之相冲突。 三、依据《证券法》《收购办法》《准则 15 号》规定，本报告书已全面覆盖 信息披露义务人在常州聚和新材料股份有限公司（以下简称"聚和材料"或 "公司"）中拥有权益的股份变动情况。 截至本报告书签署日， ...

证券代码：688503 证券简称：聚和材料 公告编号：2025-054 常州聚和新材料股份有限公司 股东询价转让结果报告书暨持股 5%以上股东权益变动 触及 5%刻度的提示性公告 股东陈耀民（以下合称"转让方"）保证向常州聚和新材料股份有限公司（以 下简称"聚和材料"或"公司"）提供的信息内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其真实性、准确性和完整性依法承担法律责任。本公司及董 事会全体成员保证公告内容与信息披露义务人提供的信息一致。 重要内容提示: 本次询价转让的价格为45.81元/股，转让的股票数量为6,776,942股。 陈耀民参与本次询价转让。公司控股股东、实际控制人、 董事及高级管 理人员不参与本次询价转让。 截至 2025 年 12 月 9 日，转让方所持公司股份的数量、比例情况如下： | | | | 序号 | 股东名称 | 持股数量（股） | 持股比例 | | --- | --- | --- | --- | | 1 | 陈耀民 | 18,574,365 | 7.67% | 本次询价转让的出让方陈耀民不属于公司控股股东、实际控制人、董事及高级 管理人员，本次询价转让的出让方陈耀民持 ...

中信证券股份有限公司 关于常州聚和新材料股份有限公司 股东向特定机构投资者询价转让股份的核查报告 上海证券交易所： 中信证券股份有限公司（以下简称"中信证券"或"组织券商"）受委托担任陈耀 民（以下简称"转让方"）以向特定机构投资者询价转让（以下简称"询价转让"）方 式减持所持有的常州聚和新材料股份有限公司（以下简称"公司"或"聚和材料"）首 次公开发行前已发行股份的组织券商。 经核查，中信证券就本次询价转让的股东、受让方是否符合《上海证券交易所科创 板上市公司自律监管指引第 4 号——询价转让和配售（2025 年 3 月修订）》（以下简 称"《询价转让和配售指引》"）要求，本次询价转让的询价、转让过程与结果是否公 平、公正，是否符合《询价转让和配售指引》的规定作出如下报告说明。 一、本次询价转让概况 （一）本次询价转让转让方 截至 2025 年 12 月 9 日，转让方所持公司首发前股份的数量及占公司总股本比例情 况如下： | 序号 | 股东名称 | 持股数量（股） | 持股比例 | | --- | --- | --- | --- | | 1 | 陈耀民 | 18,574,365 | 7.67% | （二） ...