证券日报网讯12月15日，南大光电（300346）在互动平台回答投资者提问时表示，光刻胶销售情况请关 注公司披露的定期报告。 ...

（编辑 王雪儿） 证券日报网讯 12月15日，三祥新材在互动平台回答投资者提问时表示，半导体领域市场系公司重点布 局和拓展方向之一，目前市场进展较为顺利，公司部分产品已获下游半导体产业链客户认可及订单，并 小批量供货，公司将持续加快后续产能建设，并积极跟进下游客户需求。 ...

智通财经APP讯，神工股份(688233.SH)发布公告，公司股东温州晶励、旭捷投资因自身发展需要，拟 通过上海证券交易所交易系统以集中竞价、大宗交易方式减持公司股份合计不超过335.94万股(即不超 过公司总股本的1.98%)。 ...

证券日报网讯12月15日，有研硅在互动平台回答投资者提问时表示，截至目前，公司生产经营一切正 常，控股股东所持股份不存在被强制转让、出售或没收的情形。 ...

格隆汇12月15日｜三祥新材在互动平台表示，半导体领域市场系公司重点布局和拓展方向之一，目前市 场进展较为顺利，公司部分产品已获下游半导体产业链客户认可及订单，并小批量供货，公司将持续加 快后续产能建设，并积极跟进下游客户需求。 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [1] Core Insights - The company has achieved significant advancements in semiconductor materials, particularly in electroplating solutions and photoresists, with stable mass production for 28nm and 5nm-14nm advanced processes [4][5] - The company is recognized for its high-performance materials, which have received consistent orders from leading global wafer manufacturers [4] - The company is positioned to benefit from the domestic substitution trend in the semiconductor industry, particularly in storage technologies like HBM and 3D NAND [6][7] Financial Projections - Revenue projections for the company are estimated at 600 million yuan in 2025, 790 million yuan in 2026, and 1.034 billion yuan in 2027, with corresponding net profits of 50 million yuan, 79 million yuan, and 119 million yuan [8][10] - The company is expected to maintain a strong growth trajectory, with revenue growth rates of 39.16% in 2025 and 31.16% in 2026 [10][13] - The earnings per share (EPS) is projected to increase from 0.57 yuan in 2025 to 1.35 yuan in 2027 [10][13] Company Overview - The latest closing price of the company's stock is 56.19 yuan, with a total market capitalization of 5 billion yuan [3] - The company has a low debt-to-asset ratio of 21.4% and a high price-to-earnings ratio of 147.87 [3]

Core Viewpoint - The competition in the 3nm chip manufacturing process is intensifying, making ultra-pure metal materials a strategic focus in the global semiconductor industry. The IPO of Shanghai semiconductor ultra-pure metal material supplier Tongchuang Purun is a significant step in breaking the overseas monopoly in semiconductor materials in China [1]. Group 1: Company Overview - Tongchuang Purun, established just over four years ago, has received over 2 billion yuan in financing and is on a mission to break the overseas monopoly in semiconductor materials [1]. - The controlling shareholder of Tongchuang Purun is Yao Lijun, founder and CTO of Jiangfeng Electronics, who holds 17.61% of the company's shares. He has a history of breaking through foreign technology barriers in the semiconductor materials sector [2][3]. Group 2: Industry Context - The purity of materials directly affects chip performance, with ultra-pure metal materials needing to reach purity levels of 99.9995% (5N5) or even 99.9999% (6N) for advanced process chips. The impurity content for 3nm process ultra-pure manganese materials must be controlled at the level of parts per ten million [3]. - Historically, the technology for producing these core materials has been dominated by companies in the US and Japan, with over 80% of the high-end market in China relying on imports, which has been a bottleneck for the domestic chip industry [3]. Group 3: Financial and Market Insights - In August, Tongchuang Purun secured over 1 billion yuan in financing, followed by another over 1 billion yuan in Pre-IPO financing, indicating strong confidence from industry capital in the ultra-pure metal materials sector [5]. - The global semiconductor sputtering target market is expected to reach 25.11 billion yuan by 2027, with the market for ultra-pure metal materials also expanding. The demand for chips is increasing due to the growth of AI and electric vehicles, providing a broad platform for domestic companies [5]. Group 4: Strategic Positioning - Jiangfeng Electronics has achieved industrialization of sputtering targets from 6 inches to 18 inches, with advanced targets already used in 7nm chip manufacturing. Tongchuang Purun focuses on the R&D and production of ultra-pure metal raw materials, creating a self-sufficient industrial chain from raw materials to target manufacturing [6].

Core Viewpoint - The China Securities Regulatory Commission has disclosed the IPO guidance report for Tongchuang Purun New Materials Co., Ltd., marking a significant step for the company in the semiconductor key materials sector as it seeks to enter the capital market for broader development opportunities [1] Company Overview - Tongchuang Purun was established in December 2012 by Dr. Yao Lijun, the founder and CTO of Jiangfeng Electronics, along with a team of high-level talents returning from overseas [3] - The company focuses on the research, development, and production of high-purity (5N, 6N, and above) metal materials used in integrated circuit manufacturing, having developed a fully autonomous core technology system [3] Technological Achievements - After over a decade of efforts, Tongchuang Purun has built a complete and controllable industrial chain from raw material purification to product application, with a modern advanced production line [3] - The product line includes ultra-high-purity aluminum, tantalum, copper, manganese, and various key alloy materials, achieving international advanced technical standards [3] - The company has broken the long-standing reliance on imports in the high-end high-purity metal materials sector in China and has become one of the few Chinese companies capable of providing key high-purity metal materials for the most advanced 3nm process chips globally [3] Market Position - High-purity metal materials are foundational for strategic emerging industries such as semiconductor chips, display panels, aerospace, and new energy, with high technical barriers historically dominated by a few US and Japanese companies [3] - Tongchuang Purun has transitioned from a follower to a peer and even a leader in certain areas due to its strong technical accumulation and continuous innovation investment [3] Strategic Partnerships - As an important partner and core supplier to Jiangfeng Electronics, Tongchuang Purun has successfully integrated several ultra-high-purity metal sputtering targets into the supply chains of top global wafer manufacturers, widely used in high-end electronic products like AI chips [4] - The collaboration has resulted in a global market share exceeding 40% for the jointly developed ultra-high-purity aluminum, copper, and manganese targets, ranking first in the world [4] Financial Developments - The company completed a Pre-IPO financing round exceeding 1 billion RMB in October, attracting notable industry investors such as Shangqi Capital and SAIC Capital, which will support further investment in core technology R&D, accelerate technological iteration and industrial upgrades, and expand market applications [4] - The founder, Dr. Yao Lijun, holds 17.61% of the company's shares, making him the controlling shareholder [4] IPO Significance - The initiation of the IPO guidance is a significant milestone in the development of Tongchuang Purun, especially against the backdrop of profound adjustments in the global semiconductor industry and the increasing demand for supply chain autonomy [4]

Investment Rating - The report maintains a "Strong Buy" rating for the oil and petrochemical sector [1]. Core Viewpoints - Iraq has restored production at the West Qurna 2 oil field, raising concerns about oversupply in the crude oil market. WTI crude futures fell by 4.33% and Brent crude futures by 4.13% during the specified period [6]. - Geopolitical tensions continue, particularly regarding the Russia-Ukraine situation and U.S.-Venezuela relations, which may impact oil prices [6]. - The U.S. Federal Reserve has lowered the federal funds rate target range by 25 basis points to between 3.50% and 3.75%, marking the third rate cut of the year [6]. - In the fluorochemical sector, the 2026 refrigerant quotas are expected to increase, with downstream demand in home appliances likely to continue due to government subsidies [6]. Summary by Sections Oil and Petrochemicals - Iraq's oil production has returned to approximately 460,000 barrels per day, and U.S. refinery utilization rates have increased following seasonal maintenance [6][7]. - The report suggests that domestic oil companies are diversifying their oil and gas sources to mitigate sensitivity to international oil price fluctuations [7]. Fluorochemicals - The 2026 HFC production quota has been announced, totaling 797,845 tons, which is an increase of 5,963 tons from the previous year. Notable increases include HFC-134a by 3,242 tons and HFC-245fa by 2,918 tons [6]. - The demand for refrigerants is expected to grow, supported by government policies and subsidies, particularly in the automotive sector [6][7]. Investment Recommendations - The report recommends focusing on the oil and petrochemical, fluorochemical, and semiconductor materials sectors. It highlights the resilience of major oil companies in the face of price volatility and suggests monitoring companies like China National Petroleum, Sinopec, and CNOOC [7]. - In the fluorochemical sector, companies leading in third-generation refrigerants and upstream fluorite resources are recommended for investment [7]. - The semiconductor materials sector is also highlighted for its upward cycle and potential for domestic substitution, with specific companies suggested for consideration [7].

点击 最 下方 关注《材料汇》 ， 点击"❤"和" "并分享 添加 小编微信 ，寻 志同道合 的你 正文 引言 我们正站在一场由深度学习和大规模计算驱动的智能革命浪潮之巅。AI模型的参数规模已突破万亿，其对算力的饥渴远超 半导体行业传统的发展节奏。当芯片制程逐步逼近物理极限，单纯依靠工艺微缩已难以为继， 突破的方向，正从设计转向 底层——材料科学成为解锁下一代算力的关键钥匙 。 从硅基到二维材料、三五族化合物，从电子到光子乃至量子，每一次材料体系的革新，都可能重构芯片的性能边界与能效 天花板。与此同时，全球半导体产业链格局深刻调整，供应链安全成为核心关切。在这一历史性交汇点上，中国本土的材 料创新与产业化进程，不仅关乎单一技术节点的突破，更承载着 构建自主可控算力底座、重塑全球AI硬件竞争格局 的战 略使命。 本文将系统梳理支撑 AI创新的关键新材料体 系，呈现从设计、制造、封装到新兴计算范式的全景技术图谱，并聚焦国内 相关企业与科研机构的产业化进展。这既是一份认识AI算力底层驱动力的技术指南，也是一张观测中国硬科技突围路径的 产业地图。 一、核心计算与逻辑芯片材料 （一）先进沟道材料 沟道材料是 半导体晶体 ...