证券代码：688503 证券简称：聚和材料 公告编号：2025-046 常州聚和新材料股份有限公司 关于变更2025年度审计机构的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 拟聘任的会计师事务所名称：容诚会计师事务所（特殊普通合伙）（以 下简称"容诚"）。 1 2.人员信息 原聘任的会计师事务所名称：立信会计师事务所（特殊普通合伙）（以 下简称"立信"）。 变更会计师事务所的简要原因及前任会计师的异议情况：鉴于常州聚和 新材料股份有限公司（以下简称"公司"）原聘任的立信已连续多年为公司提 供年度审计服务，根据《国有企业、上市公司选聘会计师事务所管理办法》以 及公司《会计师事务所选聘制度》等相关规定，综合考虑公司业务发展、审计 工作需求等情况，公司拟改聘容诚为公司2025年度审计机构。公司已就变更会 计师事务所事项与立信进行了沟通，立信对变更事宜无异议。 本事项尚需提交股东会审议。 一、拟聘任会计师事务所的基本情况 （一）机构信息 1.基本信息 容诚会计师事务所（特殊普通合伙）由原华普天健会计师事务 ...

证券代码：688503 证券简称：聚和材料 公告编号：2025-047 常州聚和新材料股份有限公司 关于召开2025年第三次临时股东会的通知 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 一、 召开会议的基本情况 （一） 股东会类型和届次 2025年第三次临时股东会 召开日期时间：2025 年 11 月 12 日 14 点 30 分 召开地点：常州市新北区浏阳河路 66 号公司会议室 （五） 网络投票的系统、起止日期和投票时间。 涉及融资融券、转融通业务、约定购回业务相关账户以及沪股通投资者的投 票，应按照《上海证券交易所科创板上市公司自律监管指引第 1 号 — 规范运作》 等有关规定执行。 （七） 涉及公开征集股东投票权 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2025 年 11 月 12 日 至2025 年 11 月 12 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00 ...

Group 1 - The core point of the article is that Juhe Materials reported a revenue of 4.206 billion yuan for the third quarter, representing a year-on-year increase of 37.38%, while net profit decreased by 52.21% [1] - For the first three quarters, the company achieved a revenue of 10.641 billion yuan, which is an 8.29% year-on-year growth, but net profit fell by 43.24% to 239 million yuan [1]

Investment Rating - The report maintains a "Positive" investment rating for the industry [3] Core Views - The main sectors are experiencing sustained prosperity, with energy storage demand exceeding expectations, optimistic guidance for wind energy, and a critical window for photovoltaic (PV) sector recovery [15][16] Summary by Sections 1. Photovoltaic - The "14th Five-Year Plan" emphasizes the need to address "involution" in competition, with ongoing consolidation in silicon material and energy consumption standards expected to support price stability [20][37] - Major companies like Tongwei Co. and GCL-Poly Energy are showing signs of recovery in Q3 profits, with Tongwei's revenue at CNY 24.09 billion, down 1.57% year-on-year, and GCL-Poly turning a profit of CNY 0.96 billion in Q3 [21][40] - The report recommends stocks benefiting from the anti-involution trend, including Tongwei Co., GCL-Poly, and LONGi Green Energy [15][39] 2. Energy Storage - The energy storage sector is entering a phase of increased volume and profitability, with a total of 3.45 GW/7.425 GWh of new projects announced in Sichuan [44] - The report highlights the positive outlook for large-scale storage systems and recommends leading companies like CATL and Aiko Solar [15][42] - The demand for household storage remains stable, with expectations for growth in overseas commercial storage markets [15][42] 3. Lithium Battery - The lithium battery sector is seeing an upward adjustment in demand expectations, with a focus on stable companies with price elasticity in battery and anode segments [15][16] - Key recommendations include CATL, EVE Energy, and companies involved in solid-state battery technologies [15][39] 4. Wind Energy - The wind energy sector is entering a new cycle of prosperity, with a focus on turbine and component leaders [15][16] - Companies like Goldwind and Mingyang Smart Energy are highlighted for their recovery in profitability and export potential [15][39] 5. Power Equipment - The report notes the approval of new ultra-high voltage projects and the growth of digitalization in the power grid, with recommendations for companies like Sifang Co. and XJ Electric [15][39] - The sector is expected to benefit from ongoing technological advancements and project approvals [15][39] 6. New Directions - The report emphasizes the potential in AIDC and robotics sectors, with companies like Sihai Technology and Megmeet Electric highlighted for their growth prospects [15][39] - The focus is on technological advancements and market opportunities in these emerging fields [15][39]

Group 1 - The core point of the news is that Juhe Materials has seen a stock price increase of 5.34%, reaching 63.18 CNY per share, with a trading volume of 540 million CNY and a turnover rate of 4.84%, resulting in a total market capitalization of 15.292 billion CNY [1] - Juhe Materials, established on August 24, 2015, and listed on December 9, 2022, specializes in the research, production, and sales of new electronic pastes, with 99.83% of its revenue coming from photovoltaic conductive silver paste and other products [1] Group 2 - Guotai Fund's Guotai Valuation Advantage Mixed Fund (LOF) A (160212) has increased its holdings in Juhe Materials by 911,800 shares in the second quarter, now holding 3.9429 million shares, which accounts for 2.18% of the circulating shares, resulting in an estimated floating profit of approximately 12.6172 million CNY [2][4] - The Guotai Valuation Advantage Mixed Fund (LOF) A (160212) was established on February 10, 2010, with a latest scale of 1.083 billion CNY, achieving a year-to-date return of 53.25% and a one-year return of 50% [2] Group 3 - The fund manager of Guotai Valuation Advantage Mixed Fund (LOF) A (160212) is Wang Zhaoxiang, who has been in the position for 3 years and 127 days, managing a total fund asset size of 2.123 billion CNY, with the best fund return during his tenure being 27.77% [3]

Group 1 - The Shanghai Stock Exchange Sci-Tech Innovation Board 200 Index (000699) has risen by 2.07%, with significant gains from constituent stocks such as Aerospace Huanyu (688523) and Puran (688766), both up by 20.00% [1] - The meeting emphasized the strategic goal of accelerating high-level technological self-reliance and strength, aiming to lead the development of new productive forces [1] - The statement regarding a "new round of technological revolution" indicates a clearer focus on self-reliance in technology, which is expected to benefit domestic substitution and self-controllable innovations [1] Group 2 - The Sci-Tech 200 ETF Index closely tracks the Shanghai Stock Exchange Sci-Tech Innovation Board 200 Index, which selects 200 securities with smaller market capitalization and better liquidity from the Sci-Tech Innovation Board [2] - As of September 30, 2025, the top ten weighted stocks in the Sci-Tech Innovation Board 200 Index account for 13.27% of the index, including companies like Shijia Photon (688313) and Juyuan Technology (688388) [2] - The Sci-Tech 200 ETF Index (588240) is part of a series that includes the Sci-Tech 50 and 100 indices, reflecting the overall performance of companies listed on the Sci-Tech Innovation Board [2]

Group 1: Semiconductor Industry Performance - The China Securities Semiconductor Industry Index rose by 2.79% as of October 24, 2025, with notable gains from stocks like Jingrui Electric Materials (up 11.67%) and Tuojing Technology (up 6.69%) [2] - The Semiconductor Industry ETF (159582) increased by 2.80%, reaching a latest price of 2.17 yuan, and has seen a cumulative increase of 43.47% over the past three months [2] - The average daily trading volume for the Semiconductor Industry ETF over the past month was 75.01 million yuan [2] Group 2: Chip Sector Developments - The Shanghai Stock Exchange Sci-Tech Innovation Board Chip Index surged by 2.88%, with significant increases from Huahong Semiconductor (up 7.23%) and Tuojing Technology (up 6.69%) [2] - The Bosera Sci-Tech Chip ETF (588990) rose by 2.77%, with a latest price of 2.53 yuan, and has experienced a 51.29% increase over the last three months [2] - The average daily trading volume for the Bosera Sci-Tech Chip ETF over the past month was 155 million yuan [2] Group 3: New Materials Sector Performance - The Shanghai Stock Exchange Sci-Tech Innovation Board New Materials Index increased by 1.69%, with stocks like Sree New Materials (up 6.41%) and Shen Gong Co. (up 5.42%) showing strong performance [4] - The Bosera Sci-Tech New Materials ETF (588010) rose by 1.50%, with a latest price of 0.81 yuan, and has seen a cumulative increase of 24.15% over the past three months [4] - The average daily trading volume for the Bosera Sci-Tech New Materials ETF over the past month was 31.53 million yuan, ranking first among comparable funds [4] Group 4: Major Events in Technology - Google announced the achievement of the world's first verifiable "quantum advantage" algorithm on its self-developed Willow chip, running 13,000 times faster than the world's strongest supercomputer [5] - Anthropic confirmed a multi-billion dollar partnership with Google Cloud, acquiring up to 1 million TPU chips and over 1 gigawatt of computing power for training the next generation of Claude models [5] - Domestic GPU manufacturer Muxi Integration is set to hold an IPO meeting on October 24, 2025, attracting market attention as a key player in the domestic GPU sector [5] Group 5: Price Adjustments in Capacitor Market - Yageo Group announced a price increase for multiple series of polymer tantalum capacitors starting November 1, driven by surging AI demand leading to supply-demand imbalances [6] - Major players like KEMET, AVX, and Vishay are also experiencing extended delivery cycles, indicating a potential continuation of the price increase trend for tantalum capacitors [6] Group 6: Institutional Insights - The market is characterized by a dual-driven pattern of "computing power technology breakthroughs + supply chain price increases," with Google's quantum algorithm validation enhancing global focus on high-end computing chips and quantum hardware ecosystems [7] - The substantial procurement by Anthropic reinforces the ongoing expansion phase of AI computing power, providing valuation support for domestic GPU, storage, and power device sectors [7] - The overall sentiment in the sector is expected to remain strong in the short term, with a focus on the sustainability of the "domestic computing power chain" and the transmission space of the price increase cycle [7]

Market Performance - As of October 23, 2025, the Zhongzheng Semiconductor Industry Index decreased by 1.52%, with major stocks like ShenGong Co. leading the decline at 5.10% [2] - The Sci-Tech Innovation Board Chip Index fell by 2.00%, with stocks such as TuoJing Technology rising by 3.06% while ShengKe Tongxin dropped by 4.98% [4] - The Sci-Tech Innovation Board New Materials Index declined by 1.32%, with TianCheng Technology increasing by 5.98% and ShenGong Co. again leading the decline [7] ETF Performance - The Semiconductor Industry ETF (159582) decreased by 1.37%, with a recent price of 2.09 yuan, but showed a 3.87% increase over the past month [2] - The Sci-Tech Chip ETF (588990) also fell by 1.94%, with a recent price of 2.43 yuan, and a 0.98% increase over the past month [4] - The Sci-Tech New Materials ETF (588010) dropped by 1.37%, with a recent price of 0.79 yuan, and a 0.75% increase over the past month [7] Liquidity and Trading Volume - The Semiconductor Industry ETF had a turnover rate of 4.43% with a trading volume of 17.2464 million yuan, averaging 77.5828 million yuan daily over the past month [2] - The Sci-Tech Chip ETF had a turnover rate of 8.66% with a trading volume of 58.0718 million yuan, averaging 161 million yuan daily over the past month [4] - The Sci-Tech New Materials ETF had a turnover rate of 8.03% with a trading volume of 19.9337 million yuan, averaging 32.1769 million yuan daily over the past week [7] Industry Developments - Yangtze Memory Technologies is considering an IPO in mainland China, potentially valued over 40 billion USD, which could be one of the largest listings in the domestic semiconductor sector [8] - Tesla has added a manufacturing engineer position for its Optimus robot, planning to launch several products next year, indicating a growing interest in humanoid robots [8] - NVIDIA's new Rubin series will utilize M9 materials, suggesting an increase in material chain focus and potential technological upgrades [8] Institutional Insights - The expectation of Yangtze Memory's IPO strengthens the logic of domestic storage autonomy, potentially boosting valuations in chip equipment and material chains [9] - The AI and semiconductor sectors are experiencing renewed interest, with a focus on upstream components like sensors and drive systems due to Tesla and other developments [9] - The peak production of global advanced packaging lines is expected between 2025 and 2028, with equipment procurement cycles starting in late 2024, indicating a significant demand for related equipment [9] ETF Overview - The Semiconductor Industry ETF closely tracks the Zhongzheng Semiconductor Industry Index, covering key sectors in semiconductor materials, equipment, and applications [10] - The Sci-Tech Chip ETF tracks the Sci-Tech Innovation Board Chip Index, focusing on semiconductor-related companies with a maximum of 50 constituents [10] - The Sci-Tech New Materials ETF follows the Sci-Tech Innovation Board New Materials Index, concentrating on advanced materials relevant to the semiconductor industry [10] Weighting and Composition - As of September 30, 2025, the top ten stocks in the Zhongzheng Semiconductor Industry Index accounted for 78.18% of the index [11] - The top ten stocks in the Sci-Tech Chip ETF represented 59.69% of the index [11] - The top ten stocks in the Sci-Tech New Materials Index made up 51.58% of the index [12]

Group 1 - The A-share market showed strong fluctuations with the Shanghai Composite Index down by 0.44% and the ChiNext Index down by 0.89% as of the morning close [2] - The technology sector remains robust, with leading stocks like Tianfu Communication and Zhongji Xuchuang experiencing significant gains, reaching historical highs [5][2] - Over 30 stocks hit the daily limit up, with Yingxin Development surging due to a favorable announcement, leading to a trading volume exceeding 5 million hands during the opening auction [3][2] Group 2 - Yingxin Development announced a cash acquisition of 81.8091% equity in Changxing Semiconductor, which specializes in memory chip packaging and testing, expected to gain controlling interest post-transaction [3] - Changxing Semiconductor, established in November 2012, holds 76 valid patents and is recognized as a national high-tech enterprise, indicating strong technological capabilities [3] - The technology sector has seen a significant pullback from its peak, attributed to reduced risk appetite, yet the fundamentals in high-growth areas like PCB, AI chips, and storage remain intact, suggesting continued investment opportunities [7] Group 3 - A report highlighted that over 60 technology stocks have retraced more than 20% from their September highs, with notable sectors including AI, new energy, pharmaceuticals, and robotics [9] - Specific stocks like Yifang Bio and Jibite have experienced substantial declines, with Yifang Bio down nearly 39% despite a year-to-date increase of over 110% [9][10] - The report also lists several high-quality technology stocks that have seen significant declines, indicating potential for future rebounds [10]

Group 1 - The A-share market showed strong fluctuations with the Shanghai Composite Index down 0.44% and the ChiNext Index down 0.89% as of the morning close [1] - The technology sector saw significant gains, with leading stocks like Tianfu Communication rising nearly 10% and Zhongji Xuchuang increasing nearly 4%, reaching historical highs [1] - Over 30 stocks hit the daily limit up, with Yingxin Development (000620) experiencing a massive surge due to a sudden positive announcement [1][2] Group 2 - Yingxin Development announced a cash acquisition of 81.8091% of Changxing Semiconductor, which specializes in memory chip packaging and testing, leading to a 10.1% increase in its stock price [2] - Changxing Semiconductor has a strong technological foundation with 76 valid patents and is recognized as a national high-tech enterprise [2] - The stock of Yingxin Development reached a price of 2.18 yuan per share, with a trading volume exceeding 318 million shares [2] Group 3 - The optical module index has been rebounding, with Zhongji Xuchuang's stock price hitting a historical high and its market capitalization surpassing 500 billion yuan [3] - Despite a general pullback in A-share technology assets, the fundamentals in high-growth areas like PCB, AI chips, and storage remain strong, suggesting continued investment opportunities [3] - The AI industry has seen a phase of adjustment, but major companies are accelerating product updates, which is expected to create new application scenarios and investment opportunities in upstream sectors [3] Group 4 - Over 60 technology stocks have seen a price decline of over 20% since their September highs, with significant representation in AI, new energy, pharmaceuticals, and robotics sectors [4] - Some stocks, like Yifang Bio, have experienced a substantial pullback of nearly 39%, despite having over 110% gains year-to-date [4] - Certain stocks, such as Transsion Holdings and Runze Technology, have seen their prices decline despite overall market trends [4]