天赐材料所属申万行业为：电力设备-电池-电池化学品。所属概念板块包括：4680电池、六氟磷酸锂、 锂电池、氢能源、电池回收等。 截至6月30日，天赐材料股东户数18.23万，较上期减少3.47%；人均流通股7595股，较上期增加3.60%。 2025年1月-6月，天赐材料实现营业收入70.29亿元，同比增长28.97%；归母净利润2.68亿元，同比增长 12.79%。 分红方面，天赐材料A股上市后累计派现27.56亿元。近三年，累计派现19.22亿元。 10月23日，天赐材料盘中下跌2.00%，截至10:10，报32.26元/股，成交9.08亿元，换手率2.01%，总市值 617.57亿元。 资金流向方面，主力资金净流出7663.67万元，特大单买入4912.56万元，占比5.41%，卖出9663.77万 元，占比10.64%；大单买入2.33亿元，占比25.70%，卖出2.62亿元，占比28.90%。 天赐材料今年以来股价涨64.42%，近5个交易日跌8.48%，近20日涨8.69%，近60日涨68.64%。 今年以来天赐材料已经3次登上龙虎榜，最近一次登上龙虎榜为9月29日，当日龙虎榜净买入5959.17 ...

Market Performance - The Shanghai 50 Index performed well today, increasing by 0.09%, while the CSI 300 Index decreased by 0.33% and the CSI 500 Index fell by 0.80% [4] - The North Exchange 50 Index showed strong performance, rising by 0.87%, while the Shenzhen Composite Index and the ChiNext Index both declined [4] - The oil and petrochemical, banking, real estate, home appliance, and media sectors performed well, with returns of 1.55%, 0.94%, 0.88%, 0.84%, and 0.56% respectively [8] Market Sentiment - At the close, 74 stocks hit the daily limit up, while 8 stocks hit the limit down [12] - Stocks that were limit up yesterday had a closing return of 2.18%, while those that were limit down had a return of -0.81% [14] - The sealing rate was 71%, down 7% from the previous day, while the consecutive sealing rate increased by 12% to 28% [16] Market Capital Flow - As of October 21, 2025, the margin trading balance was 24,443 billion yuan, with a financing balance of 24,273 billion yuan and a securities lending balance of 170 billion yuan [18] - The margin trading balance accounted for 2.5% of the total market capitalization, and margin trading represented 11.5% of the market turnover [20] Premium and Discount - On October 21, 2025, the oil and gas ETF had the highest premium at 0.97%, while the Innovation 100 ETF had the highest discount at 0.69% [24] - The average discount rate for block trades over the past six months was 6.15%, with a discount rate of 5.54% on the same day [26] Institutional Attention and Rankings - The stocks with the most institutional research in the past week included Huace Detection, Shiyuan Co., and Jiuzhou Pharmaceutical, with Huace Detection being researched by 118 institutions [31] - The top ten stocks with net inflows from institutional special seats included Rongxin Culture, Kebo Da, and Te Yi Pharmaceutical [34] - The top ten stocks with net outflows from institutional special seats included Lanfeng Biochemical, Hezhu Intelligent, and Haima Automobile [34]

10月21日，八亿时空盘中上涨2.01%，截至13:18，报35.09元/股，成交4185.25万元，换手率0.89%，总 市值47.19亿元。 资金流向方面，主力资金净流入493.44万元，特大单买入104.68万元，占比2.50%，卖出0.00元，占比 0.00%；大单买入851.20万元，占比20.34%，卖出462.44万元，占比11.05%。 八亿时空今年以来股价涨6.66%，近5个交易日跌5.26%，近20日跌7.17%，近60日涨5.47%。 资料显示，北京八亿时空液晶科技股份有限公司位于北京市房山区燕山东流水路20号院4号楼1-5层 101，成立日期2004年7月9日，上市日期2020年1月6日，公司主营业务涉及研发、生产、销售显示用液 晶材料。主营业务收入构成为：混合液晶90.87%，其他6.09%，其他(补充)2.00%，液晶单体1.04%。 截至6月30日，八亿时空股东户数9597.00，较上期增加17.18%；人均流通股14012股，较上期减少 14.66%。2025年1月-6月，八亿时空实现营业收入4.15亿元，同比增长10.63%；归母净利润3087.24万 元，同比减少37.90 ...

证券研究报告 | 行业点评报告 2025 年 10 月 20 日 硫酸、双氧水价格涨幅居前，建议关注六氟磷酸锂板块 招商化工行业周报 2025 年 10 月第 3 周 周期/化工 本报告阐述了基础化工板块一周行情走势、产品价格及价差变化、重点推荐子 行业及公司。 板块整体走势 10 月第 3 周化工板块（申万）下跌 3.95%，上证 A 指下跌 1.15%，板块落后 大盘 2.80 个百分点。涨幅排名前 5 的个股分别为：澄星股份（+25.12%）， 石大胜华（+18.01%），上海家化（+9.42%），华邦健康（+8.68%），多氟 多（+7.08%）；跌幅排名前 5 的个股分别为：湖北宜化（-14.09%），国瓷 材料（-13.8%），道氏技术（-13.77%），诺普信（-13.67%），巨化股份（-13.03%）。 此外，本周化工板块（申万）动态 PE 为 24.75 倍，高于 2015 年来的平均 PE 9.73%。 细分子行业走势 10 月第 3 周化工行业 1 个子行业上涨，31 个子行业下跌。上涨子行业前一是： 日用化学产品（+0.51%）；下跌子行业前五是：玻纤（-10.12%），氟化工 及制 ...

Core Viewpoint - Shenzhen New Star's stock price has experienced fluctuations, with a year-to-date increase of 39.84% but a recent decline of 6.51% over the past five trading days [1] Group 1: Stock Performance - As of October 17, Shenzhen New Star's stock price was 21.55 CNY per share, with a market capitalization of 4.549 billion CNY [1] - The stock has seen a trading volume of 43.43 million CNY and a turnover rate of 0.94% [1] - Year-to-date, the stock has risen by 39.84%, while it has decreased by 6.51% in the last five trading days [1] Group 2: Financial Performance - For the first half of 2025, Shenzhen New Star reported a revenue of 1.499 billion CNY, representing a year-on-year growth of 28.91% [2] - The company recorded a net profit attributable to shareholders of -22.36 million CNY, which is a 61.00% increase compared to the previous year [2] Group 3: Shareholder Information - As of September 30, the number of shareholders for Shenzhen New Star was 16,500, an increase of 3.62% from the previous period [2] - The average number of circulating shares per shareholder was 12,830, a decrease of 3.49% from the previous period [2] Group 4: Business Overview - Shenzhen New Star specializes in the research, production, and sales of aluminum grain refiners, with its main revenue sources being aluminum foil raw materials (53.96%), aluminum grain refiners (33.53%), and lithium hexafluorophosphate (4.19%) [1] - The company is categorized under the non-ferrous metals industry, specifically in the new metal materials sector [1]

Group 1 - A total of 59 stocks reached the daily limit up today, with 12 stocks achieving consecutive limit ups [1] - 20 stocks attempted to limit up but failed, resulting in a limit up rate of 75% (excluding ST and delisted stocks) [1] - Focus stocks include controllable nuclear fusion concept stocks, with Hezhong Intelligent achieving 6 consecutive limit ups in 10 days, and Antai Technology achieving 3 consecutive limit ups [1] Group 2 - Lithium hexafluorophosphate concept stocks also showed strong performance, with Tianji Shares achieving 5 consecutive limit ups in 6 days, and Shida Shenghua achieving 3 consecutive limit ups in 5 days [1] - New Kai Lai concept stocks saw Shen Zhen Ye A achieving 4 consecutive limit ups in 8 days, and Xin Lai Ying Cai achieving a 20% limit up with 2 consecutive limit ups [1]

Company Overview - Multi-Flor's stock price decreased by 2.06% on September 25, closing at 16.67 CNY per share, with a trading volume of 1.109 billion CNY and a turnover rate of 6.11%, resulting in a total market capitalization of 19.845 billion CNY [1] - The company has seen a year-to-date stock price increase of 41.21%, with a 1.58% rise over the last five trading days, 26.48% over the last 20 days, and 38.63% over the last 60 days [2] - Multi-Flor has been listed on the stock market since May 18, 2010, and is primarily engaged in lithium hexafluorophosphate and electronic chemicals, lithium-ion batteries, new energy vehicles, and inorganic fluorides [2] Financial Performance - For the first half of 2025, Multi-Flor reported a revenue of 4.328 billion CNY, a year-on-year decrease of 6.09%, and a net profit attributable to shareholders of 51.33 million CNY, down 27.01% year-on-year [2] - The company has distributed a total of 2.034 billion CNY in dividends since its A-share listing, with 1.04 billion CNY distributed in the last three years [3] Shareholder Structure - As of June 30, 2025, Multi-Flor had 160,200 shareholders, a decrease of 4.80% from the previous period, with an average of 6,743 circulating shares per shareholder, an increase of 5.04% [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited as the third-largest shareholder with 20.875 million shares, an increase of 13.957 million shares from the previous period [3]

Company Overview - Shenzhen New Star Light Alloy Materials Co., Ltd. is located in Bao'an District, Shenzhen, Guangdong Province, and was established on July 23, 1992. The company was listed on August 7, 2017. Its main business involves the research, production, and sales of aluminum grain refiners [1][2]. Financial Performance - For the first half of 2025, Shenzhen New Star achieved operating revenue of 1.499 billion yuan, representing a year-on-year growth of 28.91%. The net profit attributable to the parent company was -22.36 million yuan, showing a year-on-year increase of 61.00% [2]. - As of September 23, the company's stock price increased by 45.17% year-to-date, with a 4.78% rise over the last five trading days, a 26.81% increase over the last 20 days, and a 23.80% increase over the last 60 days [1]. Shareholder Information - As of August 10, the number of shareholders for Shenzhen New Star was 16,800, a decrease of 3.30% from the previous period. The average number of circulating shares per person increased by 3.41% to 12,585 shares [2]. Dividend Information - Since its A-share listing, Shenzhen New Star has distributed a total of 42 million yuan in dividends. However, there have been no dividend distributions in the last three years [3]. Market Activity - On September 23, the stock price of Shenzhen New Star was 22.37 yuan per share, with a trading volume of 151 million yuan and a turnover rate of 3.15%. The total market capitalization was 4.722 billion yuan [1]. - The company has appeared on the "Dragon and Tiger List" once this year, with the most recent appearance on September 11 [1]. Business Segments - The main revenue composition of Shenzhen New Star includes aluminum foil raw materials (53.96%), aluminum grain refiners (33.53%), other products (7.92%), lithium hexafluorophosphate (4.19%), and other supplementary products (0.40%) [1]. - The company operates within the non-ferrous metals sector, specifically in the new metal materials category, and is involved in concepts such as lithium hexafluorophosphate, lithium batteries, non-ferrous aluminum, new materials, and fluorine chemicals [1].

Company Overview - Tianji Co., Ltd. is located in Shantou City, Guangdong Province, and was established on March 30, 1996. It was listed on May 28, 2015. The company specializes in the research, production, and sales of ceramic cooking appliances and electric kettles, integrating modern technology with traditional ceramic cooking [2] - The main business revenue composition includes lithium hexafluorophosphate (67.27%), sodium phosphinate (12.80%), small household appliances (7.86%), and other chemical products [2] Financial Performance - For the first half of 2025, Tianji Co., Ltd. achieved operating revenue of 1.068 billion yuan, representing a year-on-year growth of 19.16%. However, the net profit attributable to the parent company was -52.36 million yuan, showing a year-on-year increase of 59.00% in losses [2] - The company has distributed a total of 387 million yuan in dividends since its A-share listing, with 160 million yuan distributed in the past three years [3] Stock Performance - As of September 15, Tianji Co., Ltd.'s stock price increased by 108.21% year-to-date, with a 19.50% rise in the last five trading days and a 112.57% increase over the past 60 days [1] - The stock's trading volume on September 15 reached 1.503 billion yuan, with a turnover rate of 16.55% and a total market capitalization of 9.155 billion yuan [1] Shareholder Information - As of September 10, the number of shareholders of Tianji Co., Ltd. was 110,800, an increase of 74.94% from the previous period, while the average circulating shares per person decreased by 42.84% to 4,521 shares [2] - The seventh largest circulating shareholder is the Dongfang New Energy Theme Mixed Fund, holding 3.0136 million shares, with no change in the number of shares held compared to the previous period [3]

Core Viewpoint - The stock of Shida Shenghua has shown significant growth in 2023, with a year-to-date increase of 28.23% and a recent surge in trading activity, indicating strong market interest and potential investment opportunities [1][2]. Financial Performance - For the first half of 2025, Shida Shenghua reported a revenue of 3.011 billion yuan, reflecting a year-on-year growth of 14.87%. However, the net profit attributable to shareholders was a loss of 56.34 million yuan, a decrease of 248.03% compared to the previous period [2]. - The company has distributed a total of 636 million yuan in dividends since its A-share listing, with 68.91 million yuan distributed over the last three years [3]. Stock Market Activity - As of September 15, the stock price of Shida Shenghua reached 44.88 yuan per share, with a trading volume of 151 million yuan and a market capitalization of 10.444 billion yuan [1]. - The stock has experienced a net inflow of 2.6567 million yuan from major funds, with significant buying activity from large orders [1]. Business Overview - Shida Shenghua, established on December 31, 2002, and listed on May 29, 2015, is based in Dongying, Shandong Province. The company specializes in the deep processing of basic organic chemical products, focusing on a complete industrial chain around carbonate products [1]. - The revenue composition of Shida Shenghua includes 41.85% from dimethyl carbonate series, 25.70% from other product series, 18.39% from MTBE series, 12.51% from trading products, and 1.09% from liquefied gas series [1]. Shareholder Information - As of June 30, the number of shareholders for Shida Shenghua was 37,300, a decrease of 6.92% from the previous period, while the average number of circulating shares per person increased by 7.43% to 5,437 shares [2].