证券代码：300395 证券简称：菲利华 公告编号：2025-51 湖北菲利华石英玻璃股份有限公司 第六届董事会第二十一次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 本议案已经公司独立董事专门会议审议并取得了明确同意的意见。公司保荐机构长江 证券承销保荐有限公司对该事项发表了核查意见。 本议案具体内容详见公司同日在中国证监会指定的创业板信息披露网站巨潮资讯网 （www.cninfo.com.cn）刊登的《关于放弃子公司增资优先认缴出资权暨关联交易的公告》 （公告编号：2025-50）。 关联董事商春利、蔡绍学、郑巍、孙凯、卢晓辉回避表决。 表决结果：4 票赞成（占有效表决票数的100%）、0 票反对、0 票弃权。 三、报备文件 湖北菲利华石英玻璃股份有限公司（以下简称"公司"）于2025 年9 月25 日在公司 会议室以现场与通讯相结合的方式召开第六届董事会第二十一次会议，会议通知于2025 年9 月20 日以通讯和邮件的方式发出。会议由董事长商春利先生主持，本次董事会应出 席的人数9 人，实际出席会议的董事9 人，占 ...

证券代码：300395 证券简称：菲利华 公告编号：2025-52 表决结果：2 票赞成（占有效表决票数的100%）、0 票反对、0 票弃权。 湖北菲利华石英玻璃股份有限公司 第六届监事会第二十一次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、监事会会议召开情况 二、监事会会议审议情况 （一）《关于放弃子公司增资优先认缴出资权暨关联交易的议案》 经审议，监事会认为：公司本次放弃子公司增资优先认缴出资权暨关联交易事项，符 合公司战略发展需要，关联交易决策程序符合《深圳证券交易所创业板股票上市规则》《深 圳证券交易所上市公司自律监管指引第2 号——创业板上市公司规范运作》以及《公司章 程》等有关法律法规的规定，不存在损害公司及全体股东利益的情形。因此，监事会同意 公司本次放弃子公司增资优先认缴出资权暨关联交易事项。 本议案具体内容详见公司同日在中国证监会指定的创业板信息披露网站巨潮资讯网 （www.cninfo.com.cn）刊登的《关于放弃子公司增资优先认缴出资权暨关联交易的公告》 （公告编号：2025-50）。 关联监事李再荣回避表决。 2 ...

证券代码：300395 证券简称：菲利华 公告编号：2025-50 湖北菲利华石英玻璃股份有限公司 关于放弃子公司增资优先认缴出资权暨关联交易的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 重要内容提示： 一、关联交易概述 公司控股子公司中益新材因经营发展需要，拟进行增资扩股，注册资本拟由 人民币 12,020.00 万元增加到 13,950.00 万元，募集资金人民币 6,079.50 万元。其 湖北菲利华石英玻璃股份有限公司（以下简称"公司"、"本公司"）控股子公司江 苏中益新材料股份有限公司（以下简称"子公司"或"中益新材"）因经营发展 需要，拟进行增资扩股，注册资本拟由人民币 12,020.00 万元增加到 13,950.00 万元，募集资金人民币 6,079.50 万元。其中增加的注册资本人民币1,930.00 万元， 超出注册资本的部分计入资本公积。公司放弃本次增资优先认缴出资权，本次增资完 成后公司持股比例由55.8402%下降至48.1150%，本次增资扩股事项不会导致公司合 并报表范围变更。 公司关联方实际控制人邓家贵先生、吴学民先生 ...

关于湖北菲利华石英玻璃股份有限公司 放弃子公司增资优先认缴出资权暨关联交易的核查意见 长江证券承销保荐有限公司（以下简称"长江保荐"或"保荐机构"）为湖 北菲利华石英玻璃股份有限公司（以下简称"菲利华"或"公司"）以简易程序 向特定对象发行股票的保荐机构，根据《证券发行上市保荐业务管理办法》《深 圳证券交易所创业板股票上市规则》《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》以及《深圳证券交易所上市公司自律监管指 引第 13 号——保荐业务》等相关规定的要求，对菲利华放弃子公司增资优先认 缴出资权暨关联交易事项进行了审慎核查，核查情况如下： 长江证券承销保荐有限公司 一、关联交易概述 菲利华的控股子公司江苏中益新材料股份有限公司（以下简称"子公司"或 "中益新材"）因经营发展需要，拟进行增资扩股，注册资本拟由人民币 12,020.00 万元增加到 13,950.00 万元，募集资金人民币 6,079.50 万元。其中增加的注册资 本人民币 1,930.00 万元，超出注册资本的部分计入资本公积。公司放弃本次增资 优先认缴出资权。本次增资完成后公司持股比例由 55.8402%下降至 4 ...

Market Overview - On September 25, the aviation equipment sector declined by 0.82%, with Feilihua leading the drop [1] - The Shanghai Composite Index closed at 3853.3, down 0.01%, while the Shenzhen Component Index closed at 13445.9, up 0.67% [1] Stock Performance - Notable gainers in the aviation equipment sector included: - Zhongjian Technology (300777) with a closing price of 36.32, up 1.82% [1] - Xibu Superconductor (688122) at 59.40, up 1.56% [1] - Guangqi Technology (002625) at 49.75, up 1.51% [1] - Significant decliners included: - Feilihua (300395) at 76.78, down 4.55% [2] - Zongheng Co. (688070) at 54.53, down 4.50% [2] - Yuanled (300696) at 25.24, down 3.85% [2] Capital Flow - The aviation equipment sector experienced a net outflow of 1.05 billion yuan from institutional investors, while retail investors saw a net inflow of 799 million yuan [2][3] - The capital flow for specific stocks showed: - Guangqi Technology (002625) had a net inflow of 19.93 million yuan from institutional investors [3] - Zongheng Co. (688070) saw a net inflow of 7.21 million yuan from institutional investors [3] - New Star Equipment (002933) had a net inflow of 6.48 million yuan from institutional investors [3]

Group 1 - The core point of the news is the decline in the stock price of Hubei Feilihua Quartz Glass Co., Ltd., which fell by 5.17% to 76.28 CNY per share, with a trading volume of 856 million CNY and a turnover rate of 2.16%, resulting in a total market capitalization of 39.839 billion CNY [1] - Hubei Feilihua was established on January 22, 1999, and listed on September 10, 2014. The company primarily engages in the production and sales of high-performance quartz glass materials and products for various sectors, including optical communications, semiconductors, solar energy, and aerospace [1] - The revenue composition of Hubei Feilihua is as follows: quartz glass materials account for 70.80%, quartz glass products for 28.91%, and other products for 0.30% [1] Group 2 - According to data, one fund under Bank of China, the Zhongyin Jingfu Return Mixed A Fund (005274), holds a significant position in Feilihua, with 12,700 shares, representing 0.75% of the fund's net value, making it the fifth-largest holding [2] - The Zhongyin Jingfu Return Mixed A Fund was established on April 17, 2018, with a latest scale of 86.5139 million CNY. Year-to-date, it has achieved a return of 4.93%, ranking 6739 out of 8173 in its category, and a one-year return of 10.55%, ranking 6689 out of 8003 [2] - The fund manager, Tu Haiqiang, has been in the position for 9 years and 273 days, managing assets totaling 730 million CNY, with the best fund return during his tenure being 60.72% and the worst being -5.75% [3]

Summary of the Conference Call for 菲利华 Company Overview - **Company**: 菲利华 - **Industry**: Quartz electronic cloth and copper-clad laminate (CCL) manufacturing Key Points and Arguments 1. **AI Development Impact**: The advancement of AI is driving the need for higher circuit transmission rates, leading to stricter requirements for low-loss copper-clad laminates. The M9 level copper-clad laminate is ideal for high-speed transmission due to its extremely low dielectric loss (DF value) [2][3][20] 2. **Quartz Material Advantages**: Quartz materials have an extremely low DF value, theoretically as low as 2/10,000, making them ideal for M9 level copper-clad laminates. Additionally, quartz has a lower thermal expansion coefficient compared to mainstream Low-CTE products [4] 3. **Core Competitiveness**: 菲利华 possesses a "four best" competitive edge: earliest market entry, most complete industrial chain, largest customer base, and superior performance, solidifying its leading position in the specialty fiberglass market [2][5][20] 4. **Full Supply Chain Control**: 菲利华 is the only company globally that can independently control all four stages from quartz sand purification to electronic cloth production, ensuring product quality and supply chain stability [2][9] 5. **Strategic Partnerships**: The company collaborates with downstream clients like 生益科技 and 松下 to continuously improve products, achieving a DF value of 5% to 7%, which is globally leading [2][12] 6. **Production Capacity Plans**: By 2027, 菲利华 aims to achieve an annual production capacity of 20 million meters of quartz electronic cloth, with agreements for loom procurement already signed [2][15][17] 7. **Market Trends**: The quartz electronic cloth market is expected to maintain high prices due to its critical role in AI applications, despite its higher cost compared to other materials [2][18] 8. **Revenue and Profit Projections**: If production capacity is fully utilized in 2026, the company could see revenues exceeding previous total revenues, with projected profits around 2 billion yuan, indicating a potential market valuation of at least 80 billion yuan [2][19] 9. **Investment Timing**: Current market conditions are favorable for investing in 菲利华, with clear downstream demand and an anticipated industry explosion by 2027 [2][21] Additional Important Insights - **Technological Advancements**: The company has made significant progress in technology, achieving a major breakthrough in high-frequency and high-speed copper-clad laminates [2][13] - **Customer Relationships**: 菲利华 has established long-term and stable relationships with numerous clients, which aids in continuous innovation and business growth [10][11] - **Future Market Outlook**: The quartz fiber market is expected to expand rapidly, with plans to sell quartz fibers directly to meet market demand [2][16] This summary encapsulates the critical insights from the conference call, highlighting the strategic positioning and future outlook of 菲利华 in the quartz electronic cloth and copper-clad laminate industry.

Summary of Special Electronic Fabric Industry Conference Call Industry Overview - The special electronic fabric market is expected to exceed 10 billion yuan by 2026 and 20 billion yuan by 2027, with significant growth in LCTE and Q fabric products [1][2] - Leading companies such as Zhongtai Technology, Honghe Technology, and Feirongda are identified as having long-term development opportunities [1][2] Key Trends and Developments - Recent expansion plans by leading companies like Zhonglai Technology and Nitobor have significantly impacted market supply and demand dynamics, particularly after August [3] - Domestic companies have rapidly developed, with monthly production capacity exceeding 6 million meters, capturing over 60% market share as of August 2025 [4][13] - The demand for special electronic fabrics in the AI industry is growing rapidly, with low-end electronic fabric market expected to exceed 10 billion yuan by 2026 [10] Technical Barriers - The industry faces several technical barriers, including raw material formulation and control of kiln temperatures during the manufacturing process [6][12] - Continuous R&D and iteration capabilities are crucial for maintaining competitive advantages [6] Domestic Equipment and Cost Reduction - The domestic equipment localization process has accelerated, with about 40% of the complete process equipment now domestically sourced, significantly reducing costs [9] - This shift is expected to promote the development of the fiberglass and carbon fiber industries [9] Supply and Demand Dynamics - The supply side is expected to face significant barriers, particularly for LDK2 and LOST products, which are in high demand but have limited production capabilities [14] - The market for CT products is projected to exceed 4 billion yuan in 2026, driven by supply constraints and significant demand growth [29] Company Highlights - Zhongcai Technology is highlighted for its leading position in domestic replacement, with plans to increase production capacity significantly [38][39] - Zhengtai Technology has made rapid progress in Q fabric products, with monthly shipments nearing 100,000 meters [40] - Jushi Group is expanding its production capacity and is confident in entering the special electronic fabric market [41] - Guangyuan New Materials and Honghe Technology are focusing on high-end electronic fabrics, with significant progress in production capacity [42] Market Competition - The market is currently dominated by overseas companies like Nitto Denko, which holds about 30% market share, while domestic companies are gradually increasing their presence [37] - The competition is expected to intensify as domestic companies improve their technology and production capabilities [37] Future Outlook - The demand for Q fabric is expected to grow significantly, with companies like Feili Hua and Zhongcai being key suppliers [53] - The overall supply-demand balance in the special electronic fabric industry is projected to remain tight, with price fluctuations anticipated for various products [54] This summary encapsulates the key points discussed in the conference call regarding the special electronic fabric industry, highlighting market trends, technical challenges, and company developments.

Group 1 - The successful launch and recovery of the J-15T, J-35, and KJ-600 carrier-based aircraft from the Fujian aircraft carrier marks China's entry into the "catapult era," making it the second country after the United States to possess an electromagnetic catapult aircraft carrier [1] - The first appearance of the Fujian carrier's catapult training exceeded expectations, indicating significant advancements in electromagnetic catapult technology and the potential for rapid development in commercial aerospace and high-speed vehicles [1] - The J-35, as a new generation multi-role fifth-generation fighter, has successfully completed carrier-based catapult launches, suggesting that its application has reached a critical point, with potential for accelerated development of variants suitable for different military branches [1] Group 2 - The transition to the "catapult era" is a milestone for the Chinese Navy, enhancing its capabilities and supporting the growth of military exports [2] - As of September 24, 2025, the CSI Defense Index (399973) rose by 0.83%, with notable increases in stocks such as Ruichuang Micro-Nano (688002) up by 3.10% and Zhenhua Wind Power (688439) up by 3.04% [2] - The CSI Defense Index reflects the overall performance of listed companies in the defense industry, with the top ten weighted stocks accounting for 43.88% of the index [3]

Group 1 - The defense and military industry sector experienced a significant rise on September 24, with the popular defense ETF (512810) increasing by over 1% in the afternoon, with a trading volume exceeding 59 million yuan [1] - Key stocks in the sector included Aopu Optoelectronics, Tunan Co., and Ruichuang Micro-Nano, which saw gains of 4.05%, 3.25%, and 2.97% respectively [1] - Conversely, Xiangdian Co., Feiliwa, and Qiyi Er experienced declines of 3.17%, 1.54%, and 1.48% respectively [1] Group 2 - The 2025 Air Force Aviation Open event took place from September 19 to 23 in Changchun, showcasing the J-20 fighter jet for the first time, highlighting China's aerospace equipment technology strength [3] - A strategic defense agreement was signed between Saudi Arabia and Pakistan, which is expected to deepen cooperation in military trade [3] - Huatai Securities noted that the worsening situation in the Middle East has raised concerns about the reliability of American equipment, potentially boosting China's military trade demand [3] - Global defense spending is increasing, with expectations for China's equipment exports to the Middle East strengthening, particularly with the upcoming Dubai Airshow in November serving as an important showcase [3] - Huafu Securities projected significant growth in both domestic and international demand for the defense industry from 2025 to 2027, driven by multiple catalysts including the 14th Five-Year Plan and rapid military trade development [3] - The defense ETF (512810) passively tracks the CSI Military Industry Index, which includes top-weighted stocks such as China Shipbuilding, Guangqi Technology, and AVIC Shenyang Aircraft [3] Group 3 - The top ten weighted stocks in the CSI Military Industry Index include China Shipbuilding, Guangqi Technology, AVIC Shenyang Aircraft, Aero Engine Corporation of China, AVIC Optoelectronics, AVIC Xi'an Aircraft, Feiliwa, China Great Wall, Aerospace Electronics, and AVIC Aircraft [4]