日化包装及家电、片材薄膜制品、医疗器械、3D 打印等领域。 新能源材料主要包括黑磷材料和电池粘结剂材料。黑磷材料 依托于控股子公司瑞丰玥能，于 2024 年完成百公斤装置的正常 运行，目前正在建设吨级中试生产线，预计于今年三季度投入运 行，继续推进黑磷的低成本产业化。电池粘结剂业务主要有 SBR 系列和其他系列负极粘结剂。于 2024 年实现量产推出数个牌号 产品并送样多家锂电池客户测试并实现小批量销售。当前，公司 正对标行业内最高水平的日本瑞翁/日本爱宇龙同类产品进行产 品品质提升实验，为进入高端应用市场做准备。 合成生物材料主要包括完成了聚乳酸、生物基丁二酸、右旋 糖酐等产品的中试，目前右旋糖酐产品已经得到市场认可并实现 小批量销售。公司计划进一步提高右旋糖酐的产能。 证券代码：300243 证券简称：瑞丰高材 山东瑞丰高分子材料股份有限公司 投资者关系活动记录表 | 投资者关系活动 | | √特定对象现场调研□分析师会议 | | --- | --- | --- | | 类别 | □媒体采访□业绩说明会 | | | | □新闻发布会□路演活动 | | | | □现场参观 | | | | □其他（请文字说明 ...

Core Insights - The stock of 8Yuan Shikong (688181) shows a strong overall score of 52.96, indicating a robust performance in the market [1] - The stock price has recently breached its short-term support level, suggesting a cautious approach for short-term investors while waiting for the main funds to choose a direction [2][4] Price and Cost Analysis - Current main force costs are reported as follows: 29.53 CNY for the day, 29.71 CNY for 5 days, 29.69 CNY for 20 days, and 28.44 CNY for 60 days [1] - The stock has experienced one limit-up and one limit-down in the past year [1] Technical Analysis - Short-term pressure level is at 30.84 CNY, while short-term support is at 30.95 CNY [2] - The mid-term pressure level is 28.74 CNY, and the mid-term support level is not clearly defined [2] Fund Flow Data - On June 6, 2025, the net outflow of main funds was 716.05 thousand CNY, accounting for 18% of the total transaction volume [2] - There was no net inflow from large orders, while retail investors contributed a net inflow of 12.55 thousand CNY [2] Financial Data - Earnings per share (EPS) is reported at 0.18 CNY, with an operating profit of 30 million CNY [3] - The net profit stands at approximately 23.04 million CNY, and the sales gross margin is 42.626% [3]

公司报告 | 公司专题研究 中材科技（002080） 证券研究报告 新材料领跑先锋，高端卡位有望迎估值重塑 中材科技当前正处于新材料产业化初期，在低介电/低膨胀电子布、高压储氢气瓶 等关键领域实现技术突破，具备 0 到 1 的强劲发展潜力。我们对公司新材料业务 利润贡献进行综合测算，预计 25-27 年特种玻纤布收入分别为 8.5/16.6/24.5 亿元， 对应净利润分别为 1.8/4.9/8.2 亿元（整体净利率分别为 21%/30%/34%），26/27 年 同比分别+173%/+67%。预计 25-27 年公司氢气瓶归母净利润分别为 0.3/0.7/1.5 亿 元，同比分别+82%/+113%/+106%。 估值角度看，参考可比公司，给予新材料板块 26年 25XPE，我们预计 25-27年新 材料利润分别约在 2/6/10 个亿左右，对应 26 年新材料分部市值在 150亿元附近。 主业给予 26 年 16XPE，我们预计未来三年主业利润在 14~16 亿元附近，对应 26 年主业分部市值在 240 亿元附近。综合看公司 26年合理市值在 390 亿元附近，我 们认为公司未来估值将逐渐由传统周期品向 ...

公司报告 | 公司专题研究 中材科技（002080） 证券研究报告 新材料领跑先锋，高端卡位有望迎估值重塑 中材科技当前正处于新材料产业化初期，在低介电/低膨胀电子布、高压储氢气瓶 等关键领域实现技术突破，具备 0 到 1 的强劲发展潜力。我们对公司新材料业务 利润贡献进行综合测算，预计 25-27 年特种玻纤布收入分别为 8.5/16.6/24.5 亿元， 对应净利润分别为 1.8/4.9/8.2 亿元（整体净利率分别为 21%/30%/34%），26/27 年 同比分别+173%/+67%。预计 25-27 年公司氢气瓶归母净利润分别为 0.3/0.7/1.5 亿 元，同比分别+82%/+113%/+106%。 估值角度看，参考可比公司，给予新材料板块 26年 25XPE，我们预计 25-27年新 材料利润分别约在 2/6/10 个亿左右，对应 26 年新材料分部市值在 150亿元附近。 主业给予 26 年 16XPE，我们预计未来三年主业利润在 14~16 亿元附近，对应 26 年主业分部市值在 240 亿元附近。综合看公司 26年合理市值在 390 亿元附近，我 们认为公司未来估值将逐渐由传统周期品向 ...

Group 1: New Energy Vehicle Industry - The China Securities New Energy Vehicle Industry Index (930997) decreased by 0.03% as of June 6, 2025, with component stocks showing mixed performance [1] - Xiamen Tungsten (688778) led the gains with an increase of 9.35%, while Sanhua Intelligent Control (002050) experienced the largest decline at 4.02% [1] - The New Energy Vehicle ETF (515700) showed a recent price of 1.61 yuan, with a one-month cumulative increase of 1.70% as of June 5, 2025 [1] - Leverage funds are actively investing, with the latest financing purchase amount reaching 135.61 thousand yuan and a financing balance of 5,067.33 thousand yuan [1] Group 2: Automotive Industry - The Ministry of Commerce announced plans to address "involution" competition in the automotive industry, aiming to maintain fair market order and promote healthy development [2] - The automotive parts theme index (931230) fell by 1.11% as of June 6, 2025, with component stocks showing varied performance [4] - The Automotive Parts ETF (159306) reported a recent price of 1.11 yuan, with a one-month cumulative increase of 1.72% [4][5] - The automotive parts ETF saw a significant growth in scale, increasing by 419.50 thousand yuan over the past three months [5] Group 3: Photovoltaic Industry - The China Securities Photovoltaic Industry Index (931151) rose by 0.05% as of June 6, 2025, with component stocks like Quartz Co. (603688) increasing by 7.58% [4] - The Photovoltaic ETF (516180) recently priced at 0.53 yuan, with a one-month cumulative increase of 1.13% [4] - The top ten weighted stocks in the photovoltaic index account for 56.2% of the index, including Longi Green Energy (601012) and TCL Technology (000100) [11] Group 4: New Materials Industry - The China Securities New Materials Theme Index (H30597) increased by 0.38% as of June 6, 2025, with stocks like New Zobon (300037) rising by 3.91% [7] - The New Materials ETF Index Fund (516890) reported a price of 0.49 yuan, reflecting the performance of companies involved in advanced materials [9]

Group 1 - The Guoqi Gongying ETF (159719) has seen a 0.40% increase, with a latest price of 1.52 yuan, and a cumulative increase of 2.64% over the past month as of June 5, 2025 [1] - The liquidity of the Guoqi Gongying ETF shows a turnover of 2% during the trading session, with a transaction volume of 2.23 million yuan, and an average daily transaction of 17.57 million yuan over the past year [1] - The Zhongzheng Guangdong-Hong Kong-Macao Greater Bay Area Development Theme Index (931000) has decreased by 0.05%, with mixed performance among constituent stocks [1] Group 2 - The newly established Chengtong Science and Technology Investment Fund focuses on private equity investment management and venture capital management, with a total investment of 10.01 billion yuan [1] - The fund is a collaboration among China Chengtong, Sinopec, China Aviation Oil, and the Haidian District government, aiming to create a multi-faceted collaborative structure [2] - The fund will primarily invest in three core areas: new materials, advanced manufacturing, and next-generation information technology, utilizing a combination of equity investment and ecological incubation strategies [2] Group 3 - The Greater Bay Area ETF (512970) has increased by 0.34%, with a latest price of 1.20 yuan, and a cumulative increase of 3.29% over the past month as of June 5, 2025 [1] - The top ten weighted stocks in the Zhongzheng Guangdong-Hong Kong-Macao Greater Bay Area Development Theme Index account for 53.21% of the index, including major companies like BYD and Ping An [4] - The Guoqi Gongying ETF closely tracks the FTSE China State-Owned Enterprises Open Win Index, which consists of 100 constituent stocks, including major state-owned enterprises [4]

联合研究丨公司深度丨时代新材（600458.SH） [Table_Title] 厚积薄发，新材料平台型龙头崛起 %% %% %% %% research.95579.com 1 丨证券研究报告丨 报告要点 [Table_Summary] 时代新材是央企中国中车旗下的新材料产业平台，长期积累底蕴深厚，近年进一步彰显竞争力， 轨交&工业工程稳居龙头，风电叶片规模及盈利能力快速追赶，汽车业务实现扭亏为盈。展望 2025 年各板块继续成长：风电有望受益装机高景气之下的量价齐升，贡献最大利润弹性；新材 料产业园竣工，产业孵化渐成；汽车板块有望继续夯实扭亏成果，中长期成长空间广阔。 分析师及联系人 [Table_Author] 范超 邬博华 赵智勇 SAC：S0490513080001 SAC：S0490514040001 SAC：S0490517110001 SFC：BQK473 SFC：BQK482 SFC：BRP550 张佩 李浩 司鸿历 SAC：S0490518080002 SAC：S0490520080026 SAC：S0490520080002 SFC：BUD284 董超 屈奇 周圣钧 SAC：S049052 ...

对地方发展而言，国资国企作为"顶梁柱"和"压舱石"，在稳就业、稳企业、稳市场、稳预期中发挥着不 可替代的关键作用。泰州市委书记姜冬冬说："聚焦做好'产、水、文、人'四篇文章，全力以赴'大抓经 济、大抓产业、大抓项目'，国资国企要强化使命担当，更加主动服务大局，以实际行动支撑全市重大 任务、重大战略落地落实。" 乘着长三角一体化发展的东风，泰州策划招引了一批重大战略项目和未来新兴产业布局落地、开花结 果，不断壮大的"朋友圈"为泰州产业发展、城市建设注入强劲动能。截至目前，泰州与中海油、国能、 中粮等央企和省国信集团、交控集团、环保集团等省属企业累计达成合作项目72个、总投资1413亿元。 其间，国机集团福马集团总部落户海陵区；总投资100亿元的国能煤炭储运交易中心项目落户医药高新 区(高港区)。靖江市与省国信集团携手推进燃煤发电扩建项目，预计今年建成投运；市城投、东城集团 联手省环保集团，成立江苏泰州环保产业发展公司，打造省市国资联动发展环保产业标杆；市文旅集团 与钟山宾馆合作，共同经营江苏省会议中心泰州宴.留芳茶社项目，携手打造泰州早茶品牌；市金控集 团与省高投集团合资设立20亿元的新材料产业、大健康先进制造 ...

Group 1 - The core viewpoint of the news is that Jingu Co., Ltd. is focusing on technological innovation and product development, particularly through its Avatar niobium micro-alloy material, which offers significant advantages in strength, toughness, cost, and carbon emissions reduction [1] - The Avatar low-carbon wheels are lightweight products that have entered both passenger and commercial vehicle markets, gaining recognition from several new energy vehicle manufacturers [2] - The company is accelerating capacity construction to solidify its first-mover and scale advantages while exploring horizontal product development in industries such as robotics and low-altitude aircraft [2] Group 2 - In response to institutional inquiries, the company outlined its production capacity and market layout strategies, emphasizing the need to meet market demand and orders while expanding overseas through the establishment of production bases [3] - The company is leveraging the high strength, lightweight, and low-cost characteristics of Avatar niobium micro-alloy materials for product development and project collaboration in the robotics and low-altitude aircraft sectors [3] - The overall business performance for the first half of 2025 is reported to be strong, with increasing sales of Avatar products and continuous revenue growth [3] - The company has implemented measures to stabilize core talent through stock incentives, including restricted stock and employee stock ownership plans [3]

Project Overview - The company has obtained project registration for the "End Amino Polyether Technical Transformation Project" from the Zibo Administrative Approval Service Bureau on June 3, 2025 [1] - The project will enhance the existing 40,000 tons/year end amino polyether production facility to a total capacity of 100,000 tons/year, adding 60,000 tons/year of end amino polyether and approximately 100,000 tons/year of ammonia water as a byproduct [1][4] - The project will utilize existing industrial land and will not require additional land acquisition [1] Financial and Operational Details - The total investment for the project is 200 million yuan, funded through self-owned or self-raised capital [2] - The project is scheduled to commence in 2025 and conclude in 2026 [2] Internal Review and Impact - The project requires approval from the company's board of directors before implementation [3] - End amino polyether is a crucial chemical raw material with applications in various industries, including wind energy, automotive, and polyurethane, indicating a stable and growing market demand [3] - The project aims to optimize production processes, enhance automation, and improve production efficiency while reducing energy consumption and emissions [4][5] Strategic Alignment - The project aligns with the company's long-term strategic plan to deepen its presence in the new materials sector and diversify its product offerings in the polyurethane field [5]