Core Insights - The first three newly registered companies in the Sci-Tech Innovation Board's growth tier officially launched today, just over four months after the China Securities Regulatory Commission (CSRC) announced the establishment of this tier [2] Group 1: Company Developments - Among the first three companies, two are high-tech enterprises in the biopharmaceutical sector, while one is from the semiconductor materials field, all of which are currently unprofitable [2] - Since the beginning of the year, 11 companies have been listed on the Sci-Tech Innovation Board, raising a total of 16.95 billion yuan, representing a year-on-year increase of 54% [2] Group 2: Industry Trends - The Sci-Tech Innovation Board has become the preferred venue for "hard tech" companies to go public in China over the past six years, supporting the listing of 592 companies in high-tech and strategic emerging industries, with a total market capitalization exceeding 9 trillion yuan [2] - Among the 592 listed companies, 383 have been recognized as national-level specialized and innovative "little giant" enterprises [2]

【DT新材料】获悉，近日，LG化学宣布开发出尖端半导体封装核心材料—液态PID(Photo Imageable Dielectric)，正式布局人工智能和高性能半导体市场。 PID作为感光绝缘材料，用在半导体芯片和基板之间建立微电路并形成传输电信号通道，是在先进封装工艺中提高电路精密度、增强半导体性能与可靠性 的核心材料。 随着高性能半导体对于高精密电路的需求不断攀升，PID的重要性日益凸显。LG化学的液态PID具备高分辨率、低温亦可稳定固化、兼具低收缩和低吸收 率的特性，有效提高了工艺稳定性。此外，该产品不含PFAS(全氟及多氟烷基化合物)、NMP和甲苯等物质，更符合环境相关法规要求。 随着集成电路（IC）基板尺寸不断增大、特征尺寸持续缩小，热膨胀差异导致的开裂风险显著增加。传统液态 PID 在大型基板上难以实现双面均匀性， 为此，LG化学还研发出薄膜型 PID，能够解决以下问题： 除此之外，LG 化学正持续扩大先进半导体封装领域关键后端材料的量产与研发规模，涵盖以下品类： 展品范围 材料:高纯气体、高纯石墨、晶种、金属粉、结合剂和黏结剂等 大基板一致性：在大型基板上保持均匀的厚度与图形保真度 高强度与高弹 ...

Group 1 - Three unprofitable companies, He Yuan Bio, Xi'an Yicai, and Biobetter, have been registered as the first batch of companies in the Sci-Tech Innovation Board's growth tier, marking a significant step in capital market support for technological innovation and new productive forces [1][2] - He Yuan Bio is an innovative biopharmaceutical company that has developed key core technologies for recombinant human albumin drugs, offering advantages such as high yield, simple processes, low costs, and scalability [1] - Xi'an Yicai focuses on the research, production, and sales of 12-inch silicon wafers and holds the most authorized domestic and international invention patents in this field in mainland China as of June 2025 [1] Group 2 - Biobetter is concentrated on major diseases such as tumors, autoimmune diseases, and metabolic diseases, with one innovative drug product, BEBT-908, approved for market as of October 2025, and several others in various clinical trial phases [1] - The establishment of the Sci-Tech Innovation Board's growth tier is a response to the development patterns of hard technology and global competition, allowing unprofitable tech companies to access capital markets [2] - The chairman of Xi'an Yicai emphasized that the series of reforms, including the "1+6" policy, has opened doors for companies to leverage capital for accelerating technology transformation and enhancing industrial capabilities [2]

华海诚科所属申万行业为：电子-半导体-半导体材料。所属概念板块包括：先进封装、半导体、HBM概 念、光伏玻璃、新材料等。 截至6月30日，华海诚科股东户数9805.00，较上期增加5.55%；人均流通股5349股，较上期减少3.40%。 2025年1月-6月，华海诚科实现营业收入1.79亿元，同比增长15.30%；归母净利润1377.45万元，同比减 少44.67%。 分红方面，华海诚科A股上市后累计派现6448.11万元。 机构持仓方面，截止2025年6月30日，华海诚科十大流通股东中，德邦半导体产业混合发起式A （014319）退出十大流通股东之列。 10月28日，华海诚科盘中下跌2.06%，截至10:51，报110.72元/股，成交2.11亿元，换手率3.59%，总市 值89.35亿元。 资金流向方面，主力资金净流出2346.81万元，特大单买入1645.38万元，占比7.81%，卖出2764.54万 元，占比13.13%；大单买入5216.33万元，占比24.77%，卖出6443.98万元，占比30.60%。 华海诚科今年以来股价涨49.32%，近5个交易日涨5.69%，近20日涨3.81%，近60日 ...

李超对科创板公司和市场机构提出具体要求。他希望科创板公司用好用足改革政策，完善公司治理，提 升发展质量和投资者回报。 同时，李超希望行业机构进一步提升专业能力和执业质量，更好服务实体企业和投资者。 李超致辞中表示，科创板已有力支持了一批集成电路、生物医药等领域高科技企业，服务科技创新的强 劲势能正加快集聚。 科创板科创成长层首批新注册公司今天上市 证监会正加紧为下一个五年规划期的资本市场发展绘制蓝图。 10月28日，证监会副主席李超在科创板科创成长层首批新注册企业上市仪式上表示，中国证监会将抓紧 研究谋划"十五五"时期资本市场战略任务和重大举措，牢牢把握防风险、强监管、促高质量发展工作 主线，坚定不移走中国特色金融发展之路。 李超强调，将以深化资本市场投融资综合改革为牵引，全面推进实施新一轮资本市场改革开放，持续增 强我国资本市场的包容性、适应性和吸引力、竞争力。 监管层计划通过改革不断提高制度包容性、适应性，健全投资和融资相协调的资本市场功能。 科创板"试验田"作用日益显现 李超表示，科创板改革"试验田"作用日益显现，引领带动全市场基础制度持续完善。 据央视报道，首批三家新注册的科创成长层企业今天正式登陆科 ...

Core Viewpoint - The Shanghai Composite Index has surpassed the 4000-point mark, reaching its highest level since August 19, 2015, indicating a positive market trend and investor sentiment [1]. Market Performance - As of 10:15 AM, the Shanghai Composite Index was at 4000.02, up by 3.08 points or 0.08% [2]. - The trading volume was reported at 374.238 billion, with 961 stocks declining, 113 remaining unchanged, and 1256 stocks advancing [2]. Sector Performance - Leading sectors included cross-strait integration, fiberglass, chemical raw materials, fluorine chemicals, and semiconductor materials, while sectors such as excavators, cultivated diamonds, major infrastructure state-owned enterprises, and coal mining experienced declines [2]. Market Sentiment - According to a report from Debon Securities, the market's upward movement is attributed to the diminishing uncertainties surrounding US-China trade tensions, which supports a continued upward trend. The technology sector is expected to remain a market leader due to global industry trends and improved risk appetite [3].

科创板科创成长层"迎新"！ 据央视新闻从上海证券交易所了解到，首批三家新注册的科创成长层企业今天（28日）正式登陆科创板。这距 离中国证监会宣布在科创板设置科创成长层，仅仅过了4个月零10天。 首批三家新注册的科创板科创成长层企业中，有两家是生物医药领域的高新技术企业，另外一家来自半导体材 料领域，均是未盈利企业。 今日（10月28日），禾元生物、西安奕材、必贝特三家未盈利公司登陆科创板。 开盘后， 科创板N奕材高开 361%、N禾元高开202%、N必贝特高开175%。随后，上述三只股票回落，N必贝、N奕材双双触发临停。 截至券商中国发稿，N必贝特涨超74%，N奕材涨超210%，N禾元涨超166%。 6月18日，证监会宣布科创板"1+6"政策，设立科创成长层，重点服务技术有较大突破、商业前景广阔、持续研 发投入大，但目前仍处于未盈利阶段的科技型企业。此次旨在有针对性地改革优化科创板发行上市等制度，着 力打通堵点难点，促进科技创新和产业创新深度融合。上交所7月13日发布科创板科创成长层等配套业务规 则，32家存量公司已于规则发布当日纳入科创成长层。 在科创板科创成长层首批新注册企业上市仪式上，上交所理事长邱勇在 ...

分红方面，沪硅产业A股上市后累计派现1.10亿元。 机构持仓方面，截止2025年6月30日，沪硅产业十大流通股东中，华夏上证科创板50成份ETF （588000）位居第六大流通股东，持股9112.10万股，相比上期减少216.41万股。易方达上证科创板 50ETF（588080）位居第八大流通股东，持股6824.89万股，相比上期增加195.10万股。香港中央结算有 限公司位居第十大流通股东，持股4231.65万股，为新进股东。诺安成长混合A（320007）退出十大流通 股东之列。 责任编辑：小浪快报 10月28日，沪硅产业盘中上涨2.02%，截至09:44，报25.28元/股，成交2.36亿元，换手率0.35%，总市值 694.49亿元。 资金流向方面，主力资金净流出1517.70万元，特大单买入722.64万元，占比3.06%，卖出1142.49万元， 占比4.85%；大单买入5191.21万元，占比22.02%，卖出6289.06万元，占比26.67%。 沪硅产业今年以来股价涨34.33%，近5个交易日涨2.68%，近20日涨18.57%，近60日涨30.11%。 资料显示，上海硅产业集团股份有限公司位 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected price increase of over 15% in the next 6-12 months [5]. Core Insights - The company reported a revenue of 10.641 billion RMB for the first three quarters of 2025, representing an 8.29% year-on-year increase, while the net profit attributable to shareholders decreased by 43.24% to 239 million RMB [2]. - In Q3 2025, the company achieved a revenue of 4.206 billion RMB, a quarter-on-quarter increase of 22.23%, but the net profit attributable to shareholders was 58.347 million RMB, down 35.89% from the previous quarter [2]. - The company is actively entering the semiconductor industry by establishing a partnership to acquire a business segment related to blank masks, which is crucial for semiconductor manufacturing [4]. Performance Summary - For the first three quarters of 2025, the company experienced a significant impact on net profit due to non-recurring losses, amounting to approximately 56.12 million RMB, primarily from the fair value changes of silver hedging derivatives and leased silver [3]. - The operating cash flow for Q3 was negative 2.35 billion RMB, reflecting increased cash outflows for purchasing goods and services, with inventory rising to 1.39 billion RMB due to pre-holiday stockpiling [3]. Financial Forecast - The adjusted profit forecasts for 2025-2027 are 386 million RMB, 505 million RMB, and 637 million RMB, respectively, with corresponding EPS of 1.60, 2.09, and 2.63 RMB [5]. - The current stock price corresponds to a PE ratio of 41, 31, and 25 for the years 2025, 2026, and 2027, respectively [5]. Market Analysis - The company is focusing on enhancing its capabilities in the semiconductor supply chain, which is expected to strengthen its market position and customer base [4]. - The revenue growth rate for 2025 is projected at 36.42%, following a significant increase of 58.21% in 2023 [9].

天眼查App显示，近日，内蒙古中科蒙稀半导体材料有限公司成立，法定代表人为撒仁青格乐，注册资 本1000万人民币，经营范围为一般项目：电子专用材料制造；稀土功能材料销售；电子专用材料销售； 新材料技术研发；金属材料销售；新型催化材料及助剂销售；专用化学产品销售（不含危险化学品）； 货物进出口。（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...