Core Viewpoint - Guocera Materials has shown a significant stock price increase of 32.59% year-to-date, despite a recent decline of 11.42% over the last five trading days, indicating volatility in its stock performance [1]. Financial Performance - For the period from January to September 2025, Guocera Materials achieved a revenue of 3.284 billion yuan, reflecting a year-on-year growth of 10.71% [2]. - The net profit attributable to shareholders for the same period was 489 million yuan, with a year-on-year increase of 1.50% [2]. Shareholder Information - As of September 30, 2025, the number of shareholders for Guocera Materials was 45,600, a decrease of 5.23% from the previous period [2]. - The average number of circulating shares per shareholder increased by 5.52% to 18,435 shares [2]. Dividend Distribution - Since its A-share listing, Guocera Materials has distributed a total of 870 million yuan in dividends, with 398 million yuan distributed over the past three years [3]. Major Shareholders - The largest circulating shareholder is Hong Kong Central Clearing Limited, holding 52.4854 million shares, a decrease of 3.4355 million shares from the previous period [3]. - Other notable shareholders include Fortune Tianhui Growth Mixed Fund and E Fund ChiNext ETF, with holdings of 22 million shares and 16.6653 million shares, respectively [3].

截至9月30日，隆华科技股东户数4.70万，较上期增加11.74%；人均流通股20766股，较上期增加 3.32%。2025年1月-9月，隆华科技实现营业收入23.26亿元，同比增长20.49%；归母净利润1.80亿元，同 比增长16.64%。 11月24日，隆华科技盘中上涨2.04%，截至13:16，报8.02元/股，成交1.66亿元，换手率2.16%，总市值 83.01亿元。 资金流向方面，主力资金净流入1557.62万元，特大单买入716.30万元，占比4.30%，卖出641.66万元， 占比3.86%；大单买入4084.18万元，占比24.54%，卖出2601.20万元，占比15.63%。 隆华科技今年以来股价涨10.61%，近5个交易日跌10.59%，近20日跌6.74%，近60日跌7.82%。 资料显示，隆华科技集团(洛阳)股份有限公司位于河南省洛阳市洛龙区开元大道288号会展国际13-13A 层，成立日期1995年7月5日，上市日期2011年9月16日，公司主营业务涉及电子新材料业务、高分子复 合材料业务、节能环保业务。主营业务收入构成为：节能换热装备业务35.87%，靶材及超高温特种材 料业务 ...

Core Viewpoint - New Feng Ming's stock price has shown significant fluctuations, with a year-to-date increase of 51.89% but a recent decline of 10.34% over the last five trading days [1] Financial Performance - For the period from January to September 2025, New Feng Ming achieved a revenue of 51.542 billion yuan, representing a year-on-year growth of 4.77%. The net profit attributable to shareholders was 869 million yuan, reflecting a year-on-year increase of 16.53% [2] Shareholder Information - As of October 20, 2025, the number of shareholders for New Feng Ming was 20,400, a decrease of 0.76% from the previous period. The average number of tradable shares per shareholder increased by 1.02% to 74,455 shares [2] - The company has distributed a total of 1.733 billion yuan in dividends since its A-share listing, with 720 million yuan distributed over the last three years [3] Stock Market Activity - On November 24, New Feng Ming's stock price rose by 2.03% to 16.57 yuan per share, with a trading volume of 165 million yuan and a turnover rate of 0.67%. The total market capitalization reached 25.262 billion yuan [1] - The net inflow of main funds was 4.2259 million yuan, with large orders accounting for 13.01% of purchases and 8.45% of sales [1] Business Overview - New Feng Ming Group Co., Ltd. is located in Tongxiang City, Zhejiang Province, and was established on February 22, 2000. It was listed on April 18, 2017. The company's main business includes the research, production, and sales of civilian polyester filament, short fibers, and PTA, which is one of its key raw materials [1] - The revenue composition of New Feng Ming includes POY (42.73%), PTA (13.29%), FDY (13.27%), short fibers (11.16%), DTY (10.16%), and others [1]

Company Overview - Yanggu Huatai Chemical Co., Ltd. is located at 399 Qinghe West Road, Yanggu County, Shandong Province, established on March 23, 2000, and listed on September 17, 2010 [1] - The company specializes in the production, research, and sales of rubber additives, with main business revenue composition: high-performance rubber additives 56.52%, multifunctional rubber additives 43.04%, and others 0.44% [1] Stock Performance - As of November 24, Yanggu Huatai's stock price decreased by 2.12%, trading at 14.29 CNY per share, with a total market capitalization of 6.362 billion CNY [1] - Year-to-date, the stock price has increased by 20.25%, but it has seen a decline of 12.17% over the last five trading days, 10.35% over the last 20 days, and 0.50% over the last 60 days [1] - The company has appeared on the "龙虎榜" (a stock trading list) once this year, with the most recent appearance on May 23, where it recorded a net buy of 96.5604 million CNY [1] Financial Performance - For the period from January to September 2025, Yanggu Huatai achieved a revenue of 2.580 billion CNY, representing a year-on-year growth of 1.79%, while the net profit attributable to shareholders decreased by 13.60% to 160 million CNY [2] - The company has distributed a total of 9.41 billion CNY in dividends since its A-share listing, with 296 million CNY distributed over the last three years [3] Shareholder Information - As of November 10, the number of shareholders for Yanggu Huatai was 28,700, a decrease of 3.06% from the previous period, with an average of 14,952 circulating shares per shareholder, an increase of 3.16% [2] - Notable new shareholders include Hong Kong Central Clearing Limited, holding 2.3324 million shares, and Changxin Jinli Trend Mixed A, holding 1.95 million shares [3]

Core Viewpoint - Fangda Carbon's stock price has shown volatility, with a year-to-date increase of 24.12%, but a recent decline of 6.43% over the past five trading days, indicating potential market fluctuations and investor sentiment changes [1] Financial Performance - For the period from January to September 2025, Fangda Carbon reported a revenue of 2.622 billion yuan, representing a year-on-year decrease of 16.79%. The net profit attributable to shareholders was 113 million yuan, down 55.89% compared to the previous year [2] - Cumulative cash dividends since the company's A-share listing amount to 6.189 billion yuan, with 203 million yuan distributed over the past three years [3] Shareholder Information - As of September 30, 2025, the number of shareholders for Fangda Carbon was 204,400, a slight increase of 0.09% from the previous period. The average number of circulating shares per shareholder decreased by 0.09% to 19,694 shares [2] - The top circulating shareholder is the Southern CSI 500 ETF, holding 41.0445 million shares, a decrease of 981,300 shares from the previous period. The Hong Kong Central Clearing Limited increased its holdings by 5.8579 million shares to 34.0782 million shares [3] Market Activity - Fangda Carbon's stock experienced a trading volume of 154 million yuan with a turnover rate of 0.64%. The total market capitalization stood at 24.035 billion yuan [1] - The stock has appeared on the "Dragon and Tiger List" four times this year, with the most recent instance on November 21, where it recorded a net buy of -106 million yuan [1]

Investment Rating - The report indicates a positive investment outlook for sectors aligned with the "14th Five-Year Plan," highlighting a focus on emerging industries with significant policy support [1][5][6]. Core Insights - The report emphasizes that active investment strategies outperform passive ones, with the past decade's performance of the Chinese Embassy Index at an annualized return of only 2.2%, significantly lower than GDP growth [1][3]. - Emerging industries supported by the Five-Year Plan have yielded an average return of 40% over the past five years, surpassing the CSI 300 Index, which remained flat during the same period [3][5]. - The report identifies 35 sub-industries with a total market capitalization of $13 trillion as investment targets under the "14th Five-Year Plan," based on a detailed analysis of 400 policy-related statements [5][6]. Summary by Sections Investment Strategy - A flagship investment portfolio has been constructed, consisting of 50 stocks across 21 sectors, including artificial intelligence, advanced manufacturing, and clean energy, with a growth of 36% over the past year, outperforming the MSCI China Index by 13 percentage points [1][6][8]. - The selection criteria for stocks include growth expectations of over 20% in sales or earnings within two years, a PEG ratio below 2.5, and a focus on high-quality companies [6][7]. Market Opportunities - The report highlights that the Asian market is more susceptible to policy support, with a focus on small to medium-sized tech hardware and semiconductor companies in the onshore market, while offshore markets are directed towards large internet companies and undervalued firms [7][8]. - Domestic consumption is a key priority in the Five-Year Plan, with significant potential in sectors like tourism, entertainment, and new consumption themes, which are expected to benefit from policy backing [9][10]. Policy Impact - The inclusion of anti-pollution measures in the Five-Year Plan is projected to enhance corporate earnings by approximately 1.5% over the next five years, particularly benefiting heavily impacted sectors such as chemicals and metals [11][12]. - The report suggests that the next significant policy clarity will emerge during the March meetings, which will be crucial for adjusting investment strategies [12].

Investment Rating - The report maintains a "Recommended" rating for the new materials industry [1]. Core Insights - The new materials sector is positioned as a crucial direction for the future development of the chemical industry, currently experiencing rapid demand growth in downstream applications. With policy support and technological breakthroughs, domestic new materials are expected to accelerate into a long-term growth phase. The report emphasizes that "one generation of materials leads to one generation of industries," highlighting the foundational role of new materials in supporting other industries [4][15]. Summary by Sections 1. Electronic Information Sector - Focus areas include semiconductor materials, display materials, and 5G materials [5]. - The overall sales of the chip design industry in China is projected to reach 835.73 billion yuan in 2025, reflecting a growth of 29.4% compared to 2024 [6][23]. 2. Aerospace Sector - Key materials of interest are PI films, precision ceramics, and carbon fibers [8]. 3. New Energy Sector - The report highlights solar photovoltaic materials, lithium-ion batteries, proton exchange membranes, and hydrogen storage materials as focal points [10]. 4. Biotechnology Sector - The focus is on synthetic biology and scientific services [11]. 5. Energy Conservation and Environmental Protection Sector - Key materials include adsorption resins, membrane materials, and biodegradable plastics [13]. 6. Key Companies and Profit Forecasts - The report lists several companies with their respective stock prices and earnings per share (EPS) forecasts for 2023, 2024E, and 2025E, along with their price-to-earnings (PE) ratios and investment ratings [16]. - Notable companies include: - Ruihua Tai (688323.SH) with a 2025E EPS of 0.26 and a "Hold" rating - Guangwei Composite (300699.SZ) with a 2025E EPS of 0.97 and a "Buy" rating - Zhongfu Shenying (688295.SH) with a 2025E EPS of 0.23 and a "Buy" rating - Wanrun Co., Ltd. (002643.SZ) with a 2025E EPS of 0.53 and a "Buy" rating - Dinglong Co., Ltd. (300054.SZ) with a 2025E EPS of 0.96 and a "Buy" rating [16].

导读 本周 四川、江苏、浙江、山东 等地均有母基金 宣布落地或出资，母基金重点布局 人 工智能、新一代信息技术、半导体、新材料、高端装备、生物 医药 等领域。 基金设立层面，南京、榆林、杭州、成都、德阳 等 地均有基金宣布设立或落地，基金主要聚焦人工智能、数字经济、高端制造、大健康、生物医 药、航空航天、低空经济、新能源、新材料 等领域。 值得关注的是，本周 浙江省社保科创股权投资基金完成备案，标志着全国社会保障基金理事会与地方政府的合作成功落地。此外，杭州润苗基金正 式成立。该基金由杭州市政府直投，首期规模2 0亿元、存续期限长达2 0年，远远长于目前国内政府主导型早期科创基金通常的8至1 0年。 成都千亿未来产业基金集群正式启航 2025年11月21日，成都未来产业基金首批子基金集中签约暨管理人大会在成都市民营经济发展促进中心盛大启幕。作为"投成都"未来产业投资联 盟核心活动之一，本次大会以"到成都・投未来"为主题，汇聚国内顶尖投资机构代表、重点企业及园区负责人等多方嘉宾。活动现场，成都未来产 业基金首批子基金集中签约，规模约65亿元，标志着成都千亿级未来产业基金集群从"政策布局"全面迈向"实体运作"。 ...

由中国科协科普部、新疆科协联合举办的新疆科普专家报告团活动近日在乌鲁木齐、昌吉等地陆续 举办。 在此期间，中国科学院生物物理研究所研究员卫涛涛以《探微生命奥秘，造福人类健康——新时代 的生物物理学》为题，用通俗语言和详实案例，解读这门物理与生物交叉的前沿学科，让现场听众直观 感受生命科学的魅力；中国科学院心理研究所认知与发展心理学研究室副研究员张兴利带来《从焦虑到 福流：协同思维模式促进心理健康——基于脑，保护脑，促进脑》主题报告，她通过理论解读、现场互 动和实用技巧传授，向听众传递"大脑可塑、情绪有价值、协同促健康"的科学理念。 报告团活动旨在充分汇聚院士专家等科普力量，扶持边疆地区的科普工作，并进一步强化对新疆地 区领导干部的前沿科普资源供给。截至目前，乌鲁木齐、昌吉两地已顺利举办三场科普报告。 据了解，新疆科普专家报告团还将继续围绕新一代信息技术、人工智能、航空航天、新能源、新材 料、高端装备、生物医药、量子科技等8大前沿领域，赴多地开展科普报告活动。(记者 马帅莎) 11月17日、18日，中国科学院院士雒建斌先后在新疆科技会堂、新疆昌吉职业技术学院以《影响制 造业发展的新技术》为题，解析制造业现状与前 ...

会见中，范波代表市委、市政府对广大企业给予苏州发展的支持表示感谢。他说，当前，苏州正深 入学习贯彻党的二十届四中全会精神，认真落实习近平总书记对江苏、苏州工作重要讲话重要指示精 神，坚持以经济建设为中心，加快建设现代化产业体系，全面增强自主创新能力，不断催生新质生产 力。希望企业积极抢抓中国大市场广阔机遇，围绕人工智能、生物医药、新材料、新能源等领域，持续 扩大在苏州投资布局，与我们在深化合作中实现共赢发展。苏州将持续扩大高水平对外开放，不断营造 一流营商环境，努力打造投资中国首选地。 余锋等企业嘉宾一致表示，苏州是跨国企业投资的福地，特别是近年来蓬勃发展的经济活力让人印 象深刻，让我们对苏州未来发展更加充满信心。希望进一步发挥资源优势、技术优势、品牌优势，加强 与苏州产业链供应链对接合作，落地更多优质项目，推出更多创新成果，助力苏州因地制宜发展新质生 产力。 UPS、威立雅、旺旺、沃博联、宜家、中金、拜耳等12家跨国企业高管；市领导顾海东、沈觅、丁 立新参加会见。 11月21日，市委书记范波会见了由霍尼韦尔大中华区总裁余锋带领的"跨国公司苏州行"企业代表团 一行。 ...