21智讯1月12日电，鼎龙股份在投资者关系活动中表示，公司已全面实现CMP抛光硬垫核心原材料的自 主制备，并具备自产研磨粒子的能力，显著增强供应链稳定性。该优势叠加本地化快速响应服务能力， 巩固了与国内主流晶圆厂的深度合作关系，订单续签情况良好。同时，公司正积极推进与外资本土及海 外市场客户的接洽，依托供应链安全和产品竞争力，加速国际化布局进程。 ...

Core Viewpoint - The company, Xin Heng Hui, is experiencing a positive market response with a 2.72% increase in stock price and a trading volume of 310 million yuan, indicating investor interest in its operations and growth potential [1]. Company Overview - Xin Heng Hui Electronic Co., Ltd. specializes in the research, production, sales, and packaging testing services of chip packaging materials, with main products including smart card business, etched lead frame, and IoT eSIM chip testing [3][7]. - The company was established on December 7, 2017, and went public on June 20, 2025, with its main business revenue composition being 59.74% from smart card business, 28.34% from etched lead frame, 6.16% from IoT eSIM chip testing, and 5.76% from other sources [7]. Business Segments - The company is recognized as a "specialized, refined, distinctive, and innovative" small giant enterprise, which signifies its strong market position and innovation capabilities in niche markets [2]. - Xin Heng Hui is involved in the IoT eSIM chip packaging, primarily targeting applications in wearable devices, consumer electronics, and industrial IoT [2]. Financial Performance - For the period from January to September 2025, Xin Heng Hui achieved a revenue of 700 million yuan, reflecting an 18.12% year-on-year growth, while the net profit attributable to shareholders decreased by 11.72% to 120 million yuan [8]. - As of September 30, 2025, the number of shareholders decreased by 19.55% to 30,000, while the average circulating shares per person increased by 24.31% to 1,515 shares [8]. Market Activity - The stock has seen a net inflow of 10.81 million yuan from major investors, indicating a growing interest, although the overall industry experienced a net outflow of 2.426 billion yuan [4][5]. - The average trading cost of the stock is 68.09 yuan, with the current price approaching a support level of 70.99 yuan, suggesting potential volatility in the near term [6].

相关ETF：公开信息显示， 科创半导体ETF（588170）及其联接基金（A类：024417；C类：024418） 跟踪上证科创板半导体材料设备主题指数，囊括科创板中半导体设备（60%）和半导体材料（25%）细 分领域的硬科技公司。 半导体设备和材料行业是重要的国产替代领域，具备国产化率较低、国产替代 天花板较高属性，受益于人工智能革命下的半导体需求，扩张、科技重组并购浪潮、光刻机技术进展。 半导体材料ETF（562590）及其联接基金（A类：020356；C类：020357），指数中半导体设备 （63%）、半导体材料（24%）占比靠前，充分聚焦半导体上游。 （文章来源：每日经济新闻） 截至2026年1月12日14点21分，上证科创板半导体材料设备主题指数上涨0.91%，成分股华峰测控上涨 6.22%，中微公司上涨5.82%，京仪装备上涨5.37%，天岳先进上涨3.11%，华海清科上涨2.81%。科创半 导体ETF（588170）上涨0.63%。资金流入方面，科创半导体ETF最新资金净流入3.69亿元。拉长时间 看，近5个交易日内有3日资金净流入，合计"吸金"3.27亿元，日均净流入达6547.67万元。 截 ...

Group 1 - The core viewpoint of the article emphasizes the anticipated strong growth in storage device demand by 2026, with companies Changxin and Changcun planning to double their production capacity [1] - Semiconductor equipment manufacturers are expected to provide the highest value etching and thin film deposition equipment to meet the growing demand [1] - As the structure of storage chips becomes more complex and the number of layers increases, the demand for quality control in testing equipment is also expected to rise significantly [1] Group 2 - Two companies are highlighted for providing relevant equipment for the backend testing of storage devices [1] - The article notes that the domestic production rate of semiconductor materials such as photoresists and wet electronic chemicals is currently low, but there is a strong trend towards increased localization in the future [1] - One company is identified as a leading domestic supplier of photoresist precursor materials, having successfully onboarded multiple overseas giant clients [1]

Core Insights - The project marks the commencement of a high-end semiconductor chemical materials production base in the China-Malaysia Qinzhou Industrial Park, with an annual production capacity of 700,000 tons [1] Group 1: Project Overview - The project is the first chain leader-level project in the high-end semiconductor materials industrial base of the China-Malaysia Qinzhou Industrial Park [1] - It adopts an innovative model of "chain leader + fund + base," integrating resources through leading enterprise Anxin Electronics and providing full-cycle capital support via a specialized industrial investment fund [1] - The total planned investment for the project is 5 billion yuan, focusing on products such as electronic-grade sulfuric acid, electronic-grade hydrochloric acid, electronic-grade ammonia water, electronic-grade hydrogen peroxide, and electronic-grade solvents [1] Group 2: Economic Impact - The project is expected to fill the gap in the domestic high-end semiconductor electronic chemical industry and promote significant innovation in the import substitution of high-end semiconductor chemical materials [1] - The project will be implemented in three phases, with the first phase involving an investment of 1.45 billion yuan and expected to be fully operational by the end of 2027, achieving an annual output of over 100 million yuan and creating more than 1,000 jobs [2] - Upon completion of all three phases, the total annual output value is anticipated to exceed 10 billion yuan, potentially driving the scale of related upstream and downstream industries to over 50 billion yuan [2]

华夏国证2000指数增强发起式A（018292）成立日期2023年5月23日，最新规模1750.28万。今年以来收 益6.42%，同类排名1539/5579；近一年收益48.86%，同类排名1407/4202；成立以来收益39.81%。 1月12日，上海新阳涨5.24%，截至发稿，报81.78元/股，成交8.58亿元，换手率3.92%，总市值256.28亿 元。 资料显示，上海新阳半导体材料股份有限公司位于上海市松江区思贤路3600号，成立日期2004年5月12 日，上市日期2011年6月29日，公司主营业务涉及一类为集成电路制造及先进封装用关键工艺材料及配 套设备的研发、生产、销售和服务,并为客户提供整体化解决方案。另一类为环保型、功能性涂料的研 发、生产及相关服务业务,并为客户提供专业的整体涂装业务解决方案。主营业务收入构成为：集成电 路材料74.93%，涂料品20.86%，集成电路材料配套设备及配件2.76%，集成电路电镀加工1.34%，其他 0.11%。 从基金十大重仓股角度 数据显示，华夏基金旗下1只基金重仓上海新阳。华夏国证2000指数增强发起式A（018292）三季度持 有股数3600股，占基金 ...

Core Viewpoint - Zhongjuxin's stock performance shows a slight increase of 0.30% on January 9, with a trading volume of 297 million yuan, indicating active market interest in the company [1]. Financing and Trading Data - On January 9, Zhongjuxin had a financing buy amount of 27.39 million yuan and a financing repayment of 33.52 million yuan, resulting in a net financing outflow of 6.13 million yuan [1]. - As of January 9, the total margin trading balance for Zhongjuxin was 328 million yuan, with the financing balance accounting for 5.54% of the circulating market value, which is above the 70th percentile of the past year [1]. - In terms of securities lending, Zhongjuxin had 8,300 shares sold short and 7,800 shares repaid on January 9, with a short selling amount of 83,100 yuan [1]. Company Overview - Zhongjuxin Technology Co., Ltd. was established on December 25, 2017, and went public on September 8, 2023. The company specializes in the research, production, and sales of electronic wet chemicals, electronic specialty gases, and precursor materials [1]. - The revenue composition of Zhongjuxin includes 76.63% from electronic wet chemicals, 21.25% from electronic specialty gases and precursors, and 2.12% from other sources [1]. Financial Performance - For the period from January to September 2025, Zhongjuxin reported a revenue of 881 million yuan, reflecting a year-on-year growth of 17.56%. However, the net profit attributable to shareholders decreased by 15.22% to 25.21 million yuan [2]. Shareholder Information - As of September 30, 2025, Zhongjuxin had 38,200 shareholders, an increase of 13.97% from the previous period, with an average of 15,407 circulating shares per shareholder, down by 10.50% [2]. - The top ten circulating shareholders include various ETFs, with notable changes in holdings, such as a decrease of 652,300 shares for the Jiashi Shanghai Stock Exchange Science and Technology Innovation Board Chip ETF and new entries from other ETFs [3].

Group 1 - The article highlights the urgency for domestic substitution of semiconductor materials due to recent export control measures imposed by the Ministry of Commerce on Japan, which includes a ban on dual-use items and an anti-dumping investigation on DCS, a key electronic chemical material for chip manufacturing [4] - The ongoing geopolitical tensions between China and Japan are likely to escalate, increasing the probability of Japan retaliating with further export controls, which would heighten uncertainties in the domestic semiconductor supply chain [4] Group 2 - Global semiconductor sales are projected to grow significantly in 2025, driven by demand from AI computing, data centers, and smart driving, with an expected sales figure of approximately $687.4 billion, representing a year-on-year increase of 22.7% [5] - The production capacity for 12-inch wafers is expected to reach 11.1 million pieces per month by 2028, with a compound annual growth rate (CAGR) of about 7% from 2024 to 2028, while advanced process capacity (7nm and below) is anticipated to grow from 850,000 to 1.4 million pieces per month, with a CAGR of 14% [5] Group 3 - The demand for high-bandwidth memory (HBM) is rapidly increasing due to the needs of data centers and AI processors, leading to a significant rise in semiconductor material consumption [6] - The global semiconductor materials market is expected to reach approximately $70 billion in 2025, with a year-on-year growth of 6%, and is projected to exceed $87 billion by 2029 [6] - In China, the market for key materials is forecasted to reach 174.1 billion yuan in 2025, reflecting a growth rate of 21.1% [6]

Group 1: Market Overview - The A-share market experienced a strong start to the year, with major indices showing significant increases, indicating a rise in market risk appetite [5] - The financing amount increased significantly, reflecting a continued optimistic performance in the market [5] - The spring market rally is anticipated to continue, supported by improved market sentiment [5] Group 2: Fixed Income - In the credit bond market, 332 bonds were issued with a total issuance scale of 312.27 billion, marking a 30.6% increase compared to the previous period [6] - Credit spreads varied across industries, with the largest increase in the food and beverage sector (up 2.1 basis points) and the largest decrease in the telecommunications sector (down 8.3 basis points) [6] Group 3: Commodities - The TC spot price reached a historical low, indicating ongoing tightness in copper concentrate procurement, while domestic social inventory continues to grow [7] - Despite the pressure on demand from rising copper prices, the supply-demand situation is expected to remain tight, with a positive outlook for copper prices in 2026 [7] Group 4: Chemical Industry - The small nucleic acid drug market is projected to experience rapid growth in 2026, with key players like Bluestar Technology and Lonza leading breakthroughs in critical areas [8] - The Chinese Ministry of Commerce has introduced measures against Japan, increasing the urgency for domestic substitution of key semiconductor materials [8] Group 5: Renewable Energy and Environmental Protection - The photovoltaic industry is expected to focus on coordination and method restructuring, while the battery industry is advised to prevent oversupply in energy storage batteries [9] - Investment opportunities are identified in domestic computing power, hydrogen energy, and upstream energy storage sectors, with a positive outlook for lithium carbonate prices in the short term [9]

Investment Rating - The industry investment rating is "Recommended" (maintained) [1] Core Insights - The new materials sector is a crucial direction for the chemical industry, currently experiencing rapid growth in downstream demand. With policy support and technological breakthroughs, domestic new materials are expected to accelerate their long-term growth. The report emphasizes that "one generation of materials leads to one generation of industries," highlighting the foundational nature of the new materials industry as the material basis for other industries [5][15]. Summary by Relevant Sections 1. Electronic Information Sector - Focus on semiconductor materials, display materials, and 5G materials [6] - Recent developments include NVIDIA's announcement of its new AI supercomputing platform, Vera Rubin, which has entered full production. The platform features six independent chips, with the Rubin GPU achieving a peak computing power of 50 Petaflops and a training performance 3.5 times that of its predecessor [7][37]. 2. Aerospace Sector - Focus on PI films, precision ceramics, and carbon fiber [8] - The successful acquisition of a production license for the AS700 manned airship marks a significant milestone for China's aerospace industry, indicating a shift towards standardized and commercialized production [9][10]. 3. New Energy Sector - Focus on photovoltaics, lithium-ion batteries, proton exchange membranes, and hydrogen storage materials [10] - A notable development is the introduction of the world's first all-solid-state battery by a Finnish startup, set to enter OEM mass production [11]. 4. Biotechnology Sector - Focus on synthetic biology and scientific services [12] - Beijing's economic development zone has announced measures to support the innovation and development of the synthetic biology manufacturing industry, aiming to establish a globally influential industry cluster by 2028 [13]. 5. Energy Conservation and Environmental Protection Sector - Focus on adsorbent resins, membrane materials, and biodegradable plastics [14] - The Guangxi government has issued a plan for green mine construction, aiming for over 90% of large and medium-sized mines to meet green standards by the end of 2028 [15]. 6. Industry Rating and Investment Strategy - The new materials sector is expected to benefit from the catalytic effects of downstream application sectors, gradually entering a prosperous cycle, thus maintaining a "Recommended" rating for the new materials industry [15].