Core Viewpoint - Xichang is positioning itself as a modern city focused on high-quality development, leveraging its natural resources, cultural heritage, and industrial capabilities to drive economic growth and enhance the quality of life for its residents [5][6][14]. Group 1: Economic Development - Xichang's GDP surpassed 80 billion yuan last year, with a target to exceed 100 billion yuan by 2027, establishing itself as a "super engine" for regional development [14]. - The city is building a modern industrial system based on its resource advantages, focusing on sectors such as vanadium-titanium new materials, aerospace, and pharmaceuticals [12]. Group 2: Tourism and Culture - Xichang is recognized for its favorable climate and rich cultural heritage, promoting itself as a destination for tourism with various festivals and events, including the nationally recognized Torch Festival [10][12]. - The city aims to enhance its tourism appeal by leveraging its natural beauty and cultural diversity, contributing to its reputation as a "Tianfu tourism famous county" [10]. Group 3: Environmental Sustainability - Xichang is committed to ecological restoration and sustainable development, implementing initiatives like a ten-year fishing ban on Qionghai Lake to preserve its natural environment [8]. - The city boasts a forest coverage rate exceeding 51% and an excellent air quality rate of 98.6%, highlighting its commitment to maintaining a healthy ecosystem [8].

Group 1 - The signing ceremony at the 31st Lanzhou Investment and Trade Fair resulted in 85 projects with a total investment of 455.5 billion yuan, marking a significant milestone for Jinchang [2] - Jinchang's industrial output is projected to grow from 486 billion yuan in 2020 to 1,986 billion yuan by 2024, indicating a fourfold increase in four years [2] - The signed projects focus on sectors such as non-ferrous metal new materials, new energy batteries, digital economy, and resource utilization, which align with Jinchang's "2+4" modern industrial system [2] Group 2 - Jinchang is implementing a series of initiatives to enhance its business environment, including the establishment of "Entrepreneur's Day" and the introduction of a service card for local entrepreneurs [3] - The city has introduced over 10 billion yuan in industrial guidance funds to support business growth, shifting the competitive logic from "policy competition" to "service competition" [3] - Jinchang is focused on ensuring that projects not only get signed but also successfully launch and grow, with a nearly 80% funding implementation rate for recent projects [4] Group 3 - The local government is committed to a comprehensive management network that covers the entire project lifecycle, ensuring effective support from signing to production [4] - Jinchang's proactive approach includes addressing issues raised by businesses and converting them into actionable solutions, enhancing the overall service experience [4] - The city is positioning itself as a prime location for investment, emphasizing its strong industrial foundation and commitment to creating a favorable business environment [4]

西部证券资深投顾王梁幸从宏观经济角度进行了分析，当前经济复苏基础稳固，但结构性特征明显，下半年需要重点关注政策落地节奏和产业升级进程。 随着国内经济复苏态势持续巩固，A股市场交投活跃度显著提升，资产配置需求呈现多元化趋势，ETF已成为投资者重要的流动性管理工具和资产配置载 体。近日，由深圳证券交易所主办、易方达基金协办的"深交所ETF大讲堂"及"深交所走进成份股公司"活动在西安成功举办。 活动现场，深交所基金管理部专家、西部证券财富管理部负责人郑舒丽、易方达基金董事总经理李国强分别致辞。深交所基金管理部专家详细介绍了深市 ETF市场的发展情况、产品种类以及投资策略，并表示深交所将持续通过ETF市场培育活动，助力以ETF为代表的指数化投资高质量发展，引导越来越多的 投资者树立理性投资、价值投资和长期投资理念。 西部证券财富管理部负责人郑舒丽在致辞中提到，深交所通过持续推动产品创新、流动性提升、投资者教育和多元化布局等为ETF发展提供了良好的市场生 态，西部证券将积极与易方达基金等众多市场参与者一起携手合作，践行金融为民服务理念，构建ETF财富管理生态，着眼全周期陪伴、创造长期价值、注 重高质量增长，切实提升投资 ...

产业研究中心 【新材料产业周报】京博万吨级生物基橡胶进入产业 钟浩(分析师) 化,詹鼎材料等多家新材料公司完成融资 登记编号 山东京博万吨级生物基橡胶产品进入产业化。近日,山东京博中聚新 肖洁(分析师) 材料有限公司取得重大标志性成果,入选山东好成果专报。早在 2024 年 11月,京博中聚 10000吨/年非粮生物基橡胶产线获批建设,标志 着非粮生物基橡胶产品进入万吨级产业化阶段。此次实现产业化的生 登记编号 物基衣康酸酯橡胶项目,贯通了非粮生物基合成橡胶产业链。项目以 农业废弃物玉米芯为原料制备衣康酸酯橡胶,兼具技术创新性与环保 价值。(来源:化工新材料公众号) 鲍雁手(分析师) 拓烯科技 COC 二期成功中交。近日,拓烯科技衢州三期基地成功摘 地,标志着其高端聚合物材料战略布局迈入新阶段。这一进展紧随公 司二期 COC 项目中交的重大节点,形成"投产即规划"的快速发展 态势。拓烯科技一期 COC 目前已经实现满产满销,成功应用于超 20 家头部企业产品。二期 COC 中交,拓烯科技 COC 总产能达到 1 万 吨/年,配套共聚环烯烃单体 6000吨/年。(来源:化工新材料公众号) O 产业投融资动态:( ...

江苏斯迪克新材料科技股份有限公司投资者关系活动记录表 证券代码：300806 证券简称：斯迪克 2025-059 投资者关系活动记录表 | 投资者关系 | 特定对象调研 | | | | | | --- | --- | --- | --- | --- | --- | | 活动类别 | | | | | | | 参与单位名称 | 远希私募基金公司 | | | | | | 时间 | 2025 年 7 月 8 日 | | | | | | 地点 | 太仓市青岛西路 11 号 | | | | | | 总接待次数 | 1 场 | | | | | | 上市公司 | 董事、财务总监、董事会秘书（吴江） | | | | | | 接待人员姓名 | | | | | | | | 1、公司 2024 | 年度各业务板块销售收入情况如何？ | | | | | | | | | | 单位：万元 | | | 收入项目 | 2023年 | 2024年 | 2023 VS 2024 | | | | | | | 金 额 | 比 例 | | | 光学显示 | 25,755 | 55,159 | 29,404 | 114% | | | 新能源 | 29,2 ...

Core Viewpoint - Fangshan District in Beijing is emerging as a hub for green energy and new materials industries, driven by government support and innovative business models, particularly the "front store, back factory" model, which accelerates technology commercialization [1][2][11]. Group 1: Industry Development - Fangshan focuses on two main industries: green energy and new materials, with a target industrial output value of 700.2 billion yuan in 2024, accounting for 69.1% of the total industrial output [1]. - The district is home to several innovative companies, including Aishangjia Technology, which applies graphene technology in various products, and Weilan New Energy, which has developed high-performance hybrid solid-liquid batteries [1][7]. Group 2: Company Highlights - Aishangjia Technology, established in 2013, is recognized as a national-level "little giant" enterprise, specializing in graphene thermal management technology with over 80 patents [5][6]. - Weilan New Energy, a unicorn company founded by prominent researchers, focuses on high-energy-density batteries and has received significant investments, achieving a valuation exceeding 15 billion yuan [9][10]. Group 3: Innovative Business Models - The "front store, back factory" model in Fangshan allows companies to streamline the transition from research to production, significantly reducing the time required for technology implementation by 50% [2][11]. - This model has been integrated into the city's development plans and is supported by local government initiatives, enhancing the overall business environment for tech companies [11][12]. Group 4: Government Support - The local government provides comprehensive support, including talent policies and financial resources, to foster innovation and business growth in the region [11][12]. - Fangshan has established a complete industrial ecosystem for new materials, leveraging a 10 billion yuan fund and extensive industrial space to attract and nurture upstream and downstream enterprises [6][12].

Investment Rating - The report does not explicitly provide an investment rating for the industry analyzed [2]. Core Insights - The report emphasizes the focus on "supply-side optimization" and "anti-involution" competition, with potential policy implementations expected in the second half of the year [3][8]. - Key industries identified for "anti-involution" include those with high inventory, high CAPEX, low capacity utilization, and low price levels, particularly in sectors such as chemicals, non-ferrous metals, coal, steel, and various manufacturing and consumer goods [3][11][13]. - The report outlines five perspectives for identifying potential beneficiaries of the "anti-involution" policies, including state-owned enterprise (SOE) share, industry concentration, tax revenue impact, labor intensity, and price elasticity post-capacity reduction [5][6]. Summary by Relevant Sections Policy Focus - The report highlights that the Central Financial Committee meeting on July 1 emphasized supply-side optimization and "anti-involution" competition, referencing past supply-side reforms from 2015-2016 as a model for future policy actions [3][8]. Key Industry Characteristics - Industries with high inventory, high CAPEX, low capacity utilization, and low price levels are targeted for policy intervention. These include: - Cyclical industries: Chemicals (chemical products, rubber, non-metallic materials), non-ferrous metals (energy metals), coal, and steel (common steel, steel raw materials) [3][11]. - Manufacturing: Electric new (motors, grid equipment, batteries, photovoltaics), machinery (automation equipment), automotive (passenger vehicles), military electronics, and construction [3][11]. - Consumer goods: Home appliances (appliance components), food and beverage (food processing, liquor, snacks) [3][11]. Five Perspectives for Industry Selection - **State-Owned Enterprise (SOE) Share**: Industries with higher SOE shares are expected to have stronger policy execution efficiency, including coal, common steel, cement, glass, and consumer sectors like liquor [3][5]. - **Industry Concentration**: Higher concentration industries are more likely to achieve supply clearing through stronger pricing power and quicker policy response, particularly in energy metals, non-metallic materials, and consumer goods like liquor [3][5]. - **Tax Revenue Impact**: Industries with lower tax revenue contributions will have a smaller impact on local finances during capacity reduction, focusing on sectors like glass, energy metals, and common steel [3][5]. - **Labor Intensity**: Industries with lower labor intensity will have a reduced impact on employment during capacity reduction, including non-metallic materials, chemical products, and energy metals [3][5]. - **Price Elasticity Post-Capacity Reduction**: Industries with a strong correlation between asset turnover and gross margin are expected to see greater price and margin expansion post-capacity reduction, including glass, chemical products, and energy metals [3][5]. Potential Beneficiary Industries - The report identifies several industries as potential beneficiaries of the "anti-involution" policies based on the five perspectives, including: - Coal mining, common steel, precious metals, glass fiber, coke, energy metals, steel raw materials, cement, chemical products, non-metallic materials, and various manufacturing sectors [6][7].

Core Viewpoint - Company plans to transfer lithium sulfide business assets, including patents, proprietary technology, and equipment, through a public listing due to strategic misalignment and lack of management experience in large-scale chemical production [1][2][6] Summary by Sections Transaction Overview - The transaction involves the transfer of lithium sulfide business assets with a minimum listing price not lower than the assessed value of 109.54 million yuan [2][6] - The assessed value of the assets as of April 30, 2025, is 109.54 million yuan, with a significant increase of 107.58 million yuan compared to the book value, resulting in a growth rate of 5,476.85% [2][5] Asset Details - The assets for transfer include two pending patents valued at 1.0782 million yuan, equipment valued at 1.9665 million yuan, and proprietary technology valued at 106.4978 million yuan [2][3] - The production line for lithium sulfide has been established and is capable of small-scale production [2][3] Valuation and Pricing - The valuation was conducted by Zhonglian Asset Appraisal Group using cost and income methods, ensuring a fair and reasonable pricing strategy [3][6] - The company will set the listing price based on the assessed value, ensuring it is not lower than the valuation [6] Impact on the Company - The transfer of high-value patents and proprietary technology is expected to enhance the company's technological innovation capabilities and financial resources for further investment in core business areas [6][7] - The transaction aligns with the company's strategic development plan and is anticipated to positively influence net profit [3][6]

Core Viewpoint - The company has approved the temporary use of idle convertible bond funds to supplement working capital, ensuring that this does not affect the progress of the fundraising investment projects [2][3] Group 1 - The company held the 12th meeting of the 4th Board of Directors and the 9th meeting of the 4th Supervisory Board on July 29, 2024 [2] - The company will use up to RMB 150 million of idle fundraising funds temporarily to supplement working capital related to its main business [2] - The usage period for these funds will not exceed 12 months from the date of approval by the Board of Directors [2] Group 2 - The company has successfully utilized the RMB 150 million of idle convertible bond funds within the stipulated timeframe without impacting the normal progress of the fundraising investment plan [2] - The company has arranged and used the funds reasonably, and the fund utilization situation is reported to be good [2][3]

Group 1 - The core viewpoint highlights significant breakthroughs in the field of thermal radiation metamaterials, aided by AI technology for mass production of material design, providing new solutions for efficient thermal management applications [1] - The global nylon 66 industry is accelerating its expansion, with BASF announcing expansion plans and Pingmei Shenma Group achieving domestic breakthroughs in key raw material adiponitrile technology [1] - The lightweight material PEEK (polyether ether ketone) for humanoid robots continues to attract market attention, driving technological upgrades in the industry chain [1] Group 2 - Guohai Securities emphasizes that new materials are a crucial direction for the future development of the chemical industry, currently experiencing rapid growth in downstream demand, with domestic new materials expected to enter a phase of accelerated growth due to policy support and technological breakthroughs [1] - The new materials industry is considered a foundational industry that supports the development of important fields such as electronic information, new energy, biotechnology, and energy conservation and environmental protection [1] - Analysts are focusing on new material companies with strong core supply chains, robust R&D capabilities, and excellent management, as the new materials industry is catalyzed by downstream application sectors, gradually entering a prosperous cycle [1] Group 3 - The New Materials 50 ETF tracks the new materials index, which is compiled by China Securities Index Co., Ltd., selecting listed companies from the Shanghai and Shenzhen markets involved in advanced structural materials and functional materials [1] - The index covers multiple sub-industries, including chemicals and non-metallic metals, reflecting the overall performance of listed companies in the new materials industry [1] - Component stocks within the index exhibit high growth potential and innovation capabilities [1]