Core Viewpoint - Ningbo Nengzhiguang has passed the listing committee review of the Beijing Stock Exchange, marking a significant milestone in its IPO journey, which began on June 26 last year [1] Summary by Sections IPO History - Nengzhiguang was listed on the New Third Board on May 17, 2017, and terminated its listing on July 11, 2019. It signed a counseling agreement with Guojin Securities on August 26, 2020, with the counseling registration date on August 31, 2020 [2] Financial Performance - Revenue from 2021 to 2023 was 529 million, 555 million, and 569 million respectively, with net profits of 24.14 million, 21.86 million, and 49.81 million respectively, showing significant growth in 2023. The projected revenue for 2024 is 610 million with a gross margin of 17% and a net profit of 55.94 million. For the first half of 2025, expected revenue is 301 million, with a year-on-year growth of 2.61% and a projected net profit of 26.99 million, reflecting steady growth post-pandemic [2] Fundraising and Investment Projects - The company plans to raise approximately 160 million for three main projects: a 30,000-ton functional polymer material expansion project, a research and development center construction project, and working capital supplementation [3][4] Production Capacity and Utilization - The production capacity for Ningbo remains at 30,000 tons with an actual output of 33,911.62 tons in 2024, resulting in a utilization rate of 113.04%. The Ganzhou plant has a capacity of 19,639.50 tons with an output of 14,913.69 tons, leading to a utilization rate of 75.94% [6] Product Offerings - Nengzhiguang specializes in functional polymer products such as compatibilizers, toughening agents, and adhesive resins, which are widely used in modified plastics, composite materials, and polymer functional films across various industries including automotive, electronics, and construction [6][12] Client Base - The company serves notable clients including Kingfa Technology, Prit, and LG, with Kingfa being the largest customer, accounting for nearly 10% of annual sales [5] Research and Development Focus - Current R&D efforts are directed towards high-performance materials for the renewable energy sector, particularly in photovoltaic applications, including acid removal and anti-PID masterbatches [12][14]

Core Viewpoint - The article emphasizes the rapid development and application of immersion liquid cooling technology in data centers, highlighting the shift from traditional cooling methods to innovative liquid cooling solutions that enhance system performance and energy efficiency [1][4]. Group 1: Immersion Liquid Cooling Applications - Immersion liquid cooling is identified as one of the most active application scenarios for cooling liquid material innovation [1]. - Major companies like Alibaba, Huawei, and Inspur have previously conducted trials with immersion cooling systems, but faced challenges in scaling due to costs and compatibility issues [2]. - In contrast, international tech giants such as Microsoft, Meta, and Google are advancing their liquid cooling infrastructure more rapidly [4]. Group 2: Key Immersion Cooling Projects - Submer partnered with Telefónica in Spain to deploy an open single-phase immersion system using hydrocarbon cooling liquid, achieving significant reductions in energy consumption and space usage [5]. - LiquidStack's 40 MW two-phase immersion cooling project in the U.S. is noted as one of the largest globally, utilizing fluorinated liquids and achieving over 90% energy savings [6]. - Microsoft is testing a two-phase immersion cooling system in Washington, initially using fluorinated liquids and exploring low GWP alternatives for AI and high-density servers [7]. - DUG Technology operates one of the largest commercial HPC immersion cooling clusters, using single-phase synthetic oil cooling liquid, reducing total system power consumption by nearly 40% [8]. - Shell's synthetic hydrocarbon immersion cooling liquid received Intel certification, marking it as the first cooling liquid brand endorsed by a major chip manufacturer [9]. - Castrol introduced synthetic hydrocarbon cooling liquids for immersion cooling and cold plate circulation systems, providing customized solutions for AI computing centers [10]. - TMGcore's "OTTO" platform features a modular dual-chamber two-phase liquid cooling structure, targeting military edge computing and autonomous driving simulations [11]. - GRC's single-phase liquid cooling technology is utilized by the U.S. Air Force for HPC platforms, emphasizing system stability and maintainability [12]. - KDDI's edge computing center in Japan employs single-phase organic silicon liquid, suitable for the local climate and enabling rapid deployment [13]. - Reset Data in Australia uses Submer systems with customized hydrocarbon cooling liquids for an edge AI data center powered by renewable energy [14]. Group 3: Industry Trends and Future Directions - The article highlights the importance of system thinking in liquid cooling materials, where the type of cooling liquid, dielectric properties, thermal stability, and material compatibility are crucial for successful implementation [14]. - The upcoming "Liquid Cooling Industry Innovation and Application Forum" aims to gather industry representatives to discuss key issues such as cooling liquid formulation evolution and material compatibility [15].

证券代码：300806 证券简称：斯迪克 公告编号：2025-056 江苏斯迪克新材料科技股份有限公司 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 回购专用证券账户中的股份 2,221,971 股不参与本次权益分派。本次权益分派将 以公司现有总股本（453,300,503 股）剔除已回购股份（2,221,971 股）后的 发现金分红总额=451,078,532 股×0.1 元/10 股=4,510,785.32 元（含税），不进 行资本公积金转增股本和送红股。 ÷公司总股本×10 股=4,510,785.32 元/453,300,503 股×10 股=0.099509（保留 六位小数，不四舍五入）。 公司本次权益分派实施后的除权除息参考价计算公式为：除权除息参考价＝ 权益分派股权登记日收盘价-0.0099509 元/股（按公司总股本折算每股现金分红 金额，不四舍五入）。 江苏斯迪克新材料科技股份有限公司 2024 年年度权益分派方案已获 2025 年 5 月 23 日召开的 2024 年年度股东大会审议通过，现将权益分派事宜公告如 下： 一、股 ...

证券代码：605488 证券简称：福莱新材 公告编号：临 2025-076 债券代码：111012 债券简称：福新转债 浙江福莱新材料股份有限公司 关于调整 2021 年限制性股票激励计划 回购价格及数量的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ? 回购价格调整：由 8.43 元/股调整为 5.91 元/股 ? 回购数量调整：由 971,790 股调整为 1,360,506 股 浙江福莱新材料股份有限公司（以下简称"公司"）于 2025 年 6 月 16 日召开 第三届董事会第十一次会议和第三届监事会第九次会议，审议通过《关于调整 一、《公司 2021 年限制性股票激励计划》（以下简称"《激励计划》"或"本 次激励计划"）已履行的相关程序 于公司<2021 年限制性股票激励计划（草案）>及其摘要的议案》 《关于公司<2021 年限制性股票激励计划实施考核管理办法>的议案》 《关于提请股东大会授权董事 会办理股权激励相关事宜的议案》，公司独立董事对本次激励计划及其他相关议 案发表了独立意见。同日，公 ...

Group 1 - The core viewpoint of the article highlights that Ningbo Nengzhiguang New Materials Technology Co., Ltd. has successfully passed the listing committee's review, meeting the issuance, listing, and information disclosure requirements [2] - The listing committee raised concerns regarding the authenticity of the company's operating performance, particularly focusing on revenue, gross profit, and gross profit margin from the top twenty customers [2][3] - The company reported continuous revenue growth from 2021 to 2024, with figures of 529 million, 556 million, 569 million, and 611 million yuan respectively, while the net profit showed significant fluctuations [3] Group 2 - The company plans to raise 160 million yuan through its IPO to fund projects related to the expansion of functional polymer materials, the construction of a research and development center, and to supplement working capital [3] - The Beijing Stock Exchange has accelerated its IPO acceptance speed, with 49 companies accepted so far in 2025, surpassing 60% of last year's total [4] - June has seen a record number of new applications, with 22 companies accepted by June 18, accounting for 45% of the total for the year [5]

Core Viewpoint - The company, Luxi Chemical (000830), is actively managing its production and sales in response to market conditions, while also addressing safety and operational efficiency concerns. The company reported a mixed performance in Q1 2025, with revenue growth but a decline in net profit due to market price fluctuations. Group 1: Production and Operations - The overall production and operational situation of the company is stable, with enhanced safety management measures in place to address seasonal challenges and external safety conditions [2] - The company is focusing on energy conservation, quality improvement, and maximizing economic benefits by adjusting production, sales, and procurement in response to market changes [2] Group 2: Financial Performance - In Q1 2025, the company achieved a revenue of approximately 7.29 billion yuan, representing a year-on-year increase of 7.96%. However, the net profit attributable to shareholders was about 413 million yuan, a decrease of 27.3% year-on-year [3][7] - The net profit excluding non-recurring gains and losses was approximately 384 million yuan, down 33.81% year-on-year, primarily due to a decline in the prices of certain chemical products, which fell more than the decrease in raw material costs [3][7] Group 3: Market Outlook and Strategy - The company anticipates that the market prices of chemical products will fluctuate due to various factors, making predictions challenging. It plans to adjust its strategies in line with market changes to mitigate risks and enhance cost management [6] - The company has signed a framework cooperation agreement with Sinochem Blue Sky to address competition issues related to certain products, indicating a strategic move to streamline operations and enhance market positioning [5] Group 4: Dividend Policy - The company has proposed a cash dividend of 3.50 yuan per 10 shares for the 2024 fiscal year, which has already been implemented. Future dividend policies will be determined based on profitability, cash flow, and regulatory requirements [4] Group 5: Analyst Ratings and Predictions - Over the past 90 days, six institutions have provided ratings for the stock, with five recommending a buy and one recommending an increase. The average target price set by analysts is 13.34 yuan [8] - Detailed profit forecasts for 2025 to 2027 indicate varying net profit estimates from different institutions, reflecting a range of expectations for the company's financial performance in the coming years [9]

Group 1 - The chemical industry is experiencing a bottoming out of its economic cycle, with a gradual improvement in profitability observed since late 2023, driven by a recovery in downstream demand and a slowdown in new capacity additions [8][12][14] - In the first quarter of 2025, the chemical raw materials and chemical products manufacturing industry achieved a revenue of 29,439.3 billion, a year-on-year increase of 3.1%, while total profit was 115 billion, down 4.4% year-on-year, indicating a bottoming out of the industry's economic performance [14][19] - The overall gross margin for the chemical industry in the first quarter of 2025 was 17.55%, a slight year-on-year decline of 0.25% but an increase of 0.85% compared to the previous quarter, reflecting stable profitability [17][18] Group 2 - The report highlights that 2024 saw a majority of the 33 sub-industries in the basic chemical sector report revenue growth, with notable increases in modified plastics, tires, and electronic chemicals, while potassium fertilizer and lithium battery chemicals faced significant declines [19][20] - The profitability of various sub-industries showed significant divergence, with 17 out of 33 sub-industries reporting profit growth, particularly in the chlor-alkali, rubber products, and compound fertilizer sectors, while carbon fiber and lithium battery chemicals experienced substantial profit declines [20][21] - The investment strategy suggests focusing on sectors with guaranteed demand, such as agricultural chemicals, particularly phosphate and potash industries, which are expected to maintain favorable conditions due to resource scarcity and supply constraints [8][26] Group 3 - The report indicates that fixed asset investment in the chemical industry has begun to decline, which is expected to alleviate the pressure of overcapacity in the future, while demand recovery in sectors like automotive and home appliances is anticipated to drive growth [8][12][14] - The chemical industry is expected to see a marginal recovery in overall economic conditions, with profitability likely to rebound from the bottom, driven by both supply and demand factors [8][12][14] - The report maintains an investment rating of "in line with the market," recommending attention to integrated industry leaders such as Wanhua Chemical, Longbai Group, and Baofeng Energy, as well as opportunities in agricultural chemicals and new materials [8][26]

康达新材料（集团）股份有限公司 容诚专字2025210Z0141 号 容诚会计师事务所(特殊普通合伙) 中国·北京 目 录 序号 内 容 页码 容诚会计师事务所（特殊普通合伙） 总所：北京市西城区阜成门外大街 22 号 E-mail:bj@rsmchina.com.cn https://www.rsm.global/china/ 容诚专字2025210Z0141 号 康达新材料（集团）股份有限公司全体股东： 我们审核了后附的康达新材料（集团）股份有限公司（以下简称康达新材公司） 董事会编制的截至 2025 年 3 月 31 日止的《前次募集资金使用情况专项报告》。 一、 对报告使用者和使用目的的限定 本鉴证报告仅供康达新材公司向特定对象发行股票之目的使用，不得用作任 何其他目的。我们同意将本鉴证报告作为康达新材公司申请向特定对象发行股票 所必备的文件，随其他申报材料一起上报。 我们认为，后附的康达新材公司《前次募集资金使用情况专项报告》在所有重 大方面按照《监管规则适用指引——发行类第 7 号》编制，公允反映了康达新材公 司截至 2025 年 3 月 31 日止的前次募集资金使用情况。 （此页无正文，为康达新 ...

杭州高新材料科技股份有限公司 第一章 总则 第一条 为规范杭州高新材料科技股份有限公司（以下简称"公司"）内幕 信息管理行为，加强内幕信息保密工作，维护公司信息披露的公开、公平、公正 原则，根据《中华人民共和国公司法》 《中华人民共和国证券法》 （以下简称"《证 券法》"）《上市公司信息披露管理办法》《上市公司监管指引第5号——上市 公司内幕信息知情人登记管理制度》《深圳证券交易所创业板股票上市规则》等 有关法律法规、《杭州高新材料科技股份有限公司章程》（以下简称"《公司章 程》"）及内部管理制度，特制定本制度。 第二条 本制度适用于公司内幕信息及其知情人的登记、管理事宜。本制度 未规定的，适用公司《信息披露管理制度》的相关规定。 第三条 公司董事会是内幕信息的管理机构，董事长为主要负责人。董事会 秘书负责办理公司内幕信息知情人的登记入档事宜。董事会办公室在董事会秘书 领导下具体负责内幕信息知情人报备日常工作，负责保管内幕信息知情人登记资 料。 第四条 董事会办公室是公司的信息披露机构，统一负责证券监管机构、证 券交易所、证券公司等机构及新闻媒体、股东的接待、咨询工作。未经董事会批 准同意，公司任何部门和个人 ...

Core Viewpoint - The document outlines the annual report work system for independent directors of Hangzhou High-tech Materials Technology Co., Ltd, emphasizing the importance of governance, internal control, and the supervisory role of independent directors in the preparation and disclosure of annual reports [1][2]. Group 1: Responsibilities of Independent Directors - Independent directors must fulfill their responsibilities diligently and protect the overall interests of the company during the annual report preparation and disclosure process [1][2]. - The company’s general manager is required to report on the operational status and significant investment and financing activities to the independent directors during the annual report preparation period [3]. - Independent directors are responsible for inspecting the qualifications of the accounting firm proposed for hiring and the qualifications of the registered auditors [2][3]. Group 2: Communication and Oversight - Prior to the audit, independent directors must communicate with the registered auditors regarding the audit plan, team composition, risk assessment, and key audit areas [2][3]. - Independent directors should hold at least one meeting with the registered auditors after the preliminary audit opinion is issued to discuss any issues discovered during the audit [3][4]. - Independent directors are required to review the procedures and documentation of the board meeting before the annual report is discussed, and they can refuse to attend if there are discrepancies [3][4]. Group 3: Reporting and Documentation - Independent directors must provide written confirmation of the annual report, ensuring the authenticity, accuracy, and completeness of the report [4][5]. - If there are disagreements regarding specific matters in the annual report, independent directors can independently hire external audit and consulting firms, with costs borne by the company [4][5]. - All communications, opinions, or suggestions related to the annual report work must be documented in writing and signed by the parties involved [4][5]. Group 4: Confidentiality and Compliance - Independent directors have a confidentiality obligation during the annual report preparation and must prevent insider trading and information leaks [4][5]. - The company must provide necessary conditions for independent directors to effectively exercise their powers, and relevant personnel must cooperate without obstruction [4][5]. - The document will take effect upon approval by the company's board of directors and will be revised as necessary [5][6].