Core Viewpoint - The company has successfully developed and certified its self-produced high-purity quartz sand for semiconductor diffusion furnace tubes, breaking the monopoly of imported materials in the semiconductor quartz raw material sector [1] Group 1: Company Developments - The company announced on October 27 that its quartz materials for semiconductor diffusion furnace tubes have completed all process tests for 12-inch wafer manufacturing at leading domestic storage wafer manufacturers [1] - The successful certification of these materials signifies a significant step towards achieving complete autonomy in core upstream materials of the industry [1] Group 2: Strategic Direction - The company will continue to prioritize the development of semiconductor materials and expand the certification range of its self-produced sand products [1]

神工股份(688233)10月27日披露投资者关系活动记录表显示，公司于10月26日举行线上会议及现场交 流，中信证券、金鹰基金、宏利基金等50余家机构投资者参与活动。 神工股份专注于半导体级单晶硅材料及应用产品的研发、生产及销售，目前有三大类主营产品，分别是 大直径硅材料、硅零部件以及半导体大尺寸硅片。随着国产自主供应链的不断发展，公司大直径刻蚀用 硅材料国内市场增长迅速，所占比重已超过日韩市场；公司硅零部件产品主要供给国内的刻蚀机原厂及 各大主要的存储和逻辑类Fab厂；硅片产品亦主要针对国内集成电路制造厂家。 当前，中国本土存储芯片制造厂商发展迅猛，已在前沿技术和市场份额两方面不断赶超海外竞争对手， 改变了既有的全球产业格局。中国芯片制造国产化进程进入"深水区"，供应链安全需求迫切，国产设备 厂商技术水平不断提升并追赶世界先进水平，产品持续迭代升级。 "综上，市场机会窗口敞开，公司业绩弹性有望实现。"神工股份表示，分析2025年前三季度经营情况， 公司管理层关注三个趋势：第一，公司主力业务大直径硅材料的毛利率仍然保持在60个点以上，继续保 持着领先的盈利能力，本季度公司的毛利率继续提升；第二，公司成长型业 ...

"综上，市场机会窗口敞开，公司业绩弹性有望实现。"神工股份表示，分析2025年前三季度经营情况， 公司管理层关注三个趋势：第一，公司主力业务大直径硅材料的毛利率仍然保持在60个点以上，继续保 持着领先的盈利能力，本季度公司的毛利率继续提升；第二，公司成长型业务硅零部件占公司总营收的 比重持续超过大直径硅材料，公司第二增长曲线进一步强化。公司已经从一家原材料公司逐步转变为一 家植根中国本土市场的"材料+零部件"公司；第三，以上两项业务的融合，"自产材料+零部件"，有望改 变公司业绩"周期性"的特点，"成长性"将日益明显。 神工股份注意到，半导体硅片产业在因时而变。在8英寸轻掺抛光硅片领域，具备全球竞争优势和寡头 垄断地位的日本厂商，正在将更多产能调配至12英寸轻掺抛光硅片，以在不额外增加资本开支的前提 下，改善其盈利能力。考虑到中国本土8英寸轻掺硅片的潜在市场需求仍然存在增长，日本厂商的动向 有望扩大国产化空间。公司作为国内少数具备8英寸轻掺抛光硅片技术和生产能力的企业，有望在行业 供求关系的变动中，发挥自身独特技术优势，优化变动成本，改善竞争地位。公司已在第三季度投入资 源，针对下游评估的实际需求，小幅增加硅 ...

10月25日，上海合晶硅材料股份有限公司（以下简称"上海合晶"）披露2025年第三季度报告，本公司业 绩呈"单季提速、全年稳健"态势，核心业务受益行业回暖与技术突破双重驱动。 数据显示，今年第三季度，上海合晶实现营业收入3.80亿元，同比增长25.85%；归属于上市公司股东的 净利润4508.40万元，同比增幅达47.02%。前三季度累计业绩表现同样亮眼，营收10.06亿元，同比增长 19.05%；归属于上市公司股东的净利润为1.05亿元，同比增长32.86%。 上海合晶在公告中指出，因行业景气度回升，下游客户库存水位回归合理，产品销量增加，产能利用率 维持高位，带动营业收入和归属于上市公司股东的净利润的上升。同时，受益于功率器件和模拟芯片下 游需求回暖，外延片需求重回增长态势，上海合晶积极布局12英寸大尺寸硅片的研发与建厂扩产，以及 12英寸55nmCIS外延片量产及28nmP/P-外延片研发，12英寸客户需求增加带动销量提升，收入和利润同 比增长。此外，该公司8英寸产品差异化策略进一步落实，推动功率器件领域外延片高端国产化替代。 （文章来源：证券日报） ...

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（61%）和半导体材料（23%）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 （61%）、半导体材料（21%）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10月27日13点52分，沪指逼近4000点，半导体设备、材料行业交投活跃。重仓半导体设备、材料的 科创半导体ETF（588170）、半导体材料ETF（562590）午后继续上攻，盘中双双涨超3%，成交额同步 放大，分别突破5亿、1亿元。成分股方面，晶瑞电材、南大光电、艾森股份涨幅明显。从资金流入方 面，科创半导体ETF（588170）近5个交易日内有3日资金净流入，合计"吸金"2.10亿元，日均净流入达 4191.25万元 ...

根据《民法典》、《证券法》及最高人民法院的关于虚假陈述民事赔偿司法解释的规定，上市公司、控 股股东、实际控制人、董监高人员及其中介机构等因虚假陈述等的证券欺诈行为导致证券投资者权益受 损的，应承担民事赔偿责任，赔偿范围包括：投资差额、佣金、印花税等。权益受损的证券投资者可以 向有管辖权的法院提起民事赔偿诉讼。 由于上海新阳涉嫌信息披露违法违规，被中国证监会监管，为维护证券投资者合法权益，上海汉联律师 事务所宋一欣律师向曾经购买过上海新阳的证券投资者展开诉讼代理征集，代理投资者索赔诉讼，权益 受损的证券投资者可以向前述律师进行索赔登记。（宋一欣律师专栏） 登录新浪财经APP 搜索【信披】查看更多考评等级 2．以行政处罚决定为特征的前置条件取消后，投资者虽然可以直接诉讼，但由于调查手段有限，以立 案调查通知或行政监管措施决定作为直接诉讼的依据起诉存在败诉的风险，所以，我作为专业律师提示 投资者：行政处罚决定仍然应当作为提起诉讼的必要前提之一。 2024年9月18日，上海新阳（维权）半导体材料股份有限公司（简称：上海新阳，代码：300236 ）发布 《关于收到中国证监会上海监管局行政监管措施决定书的公告》。 经中国 ...

Core Viewpoint - The establishment of China's first EUV photoresist standard is expected to drive significant movements in the photoresist sector, with several related stocks experiencing notable price increases following the announcement [2][3]. Group 1: Industry Developments - The proposed standard, titled "Testing Methods for Extreme Ultraviolet (EUV) Photoresist," was publicly announced on October 23 and will be open for comments until November 22 [2][5]. - The drafting organizations include Shanghai University, Zhangjiang National Laboratory, Shanghai Huali Integrated Circuit Manufacturing Co., and Shanghai Micro Electronics Equipment (Group) Co [2][5]. - The standard aims to fill the technical standard gap in the domestic market and provide a unified testing methodology for evaluating the performance of EUV photoresists [3]. Group 2: Market Impact - Following the announcement, stocks of companies involved in the photoresist sector saw significant gains, with Wanrun Co. reaching the daily limit increase and Jingrui Electric Materials leading the gains [2][8]. - The semiconductor materials sector is currently experiencing a phase of demand expansion and domestic substitution, with photoresists benefiting from increased wafer production and supportive policies for domestic production [7]. - It is projected that the market size for photoresists in mainland China will grow by 6.8% year-on-year to reach 17.9 billion yuan by 2025 [7]. Group 3: Technological Advancements - A research team from Peking University has utilized cryo-electron tomography to analyze the micro-3D structure and entanglement behavior of photoresist molecules in liquid environments, which could lead to significant reductions in lithography defects [6]. - This technological advancement is expected to enhance defect control and yield improvement in critical processes such as lithography, etching, and wet cleaning in advanced manufacturing [6].

Core Viewpoint - The significant rise in the photoresist sector is driven by the establishment of China's first EUV photoresist standard and recent breakthroughs in photoresist technology, indicating a positive outlook for the industry [1][2]. Group 1: Market Performance - The photoresist concept saw a substantial increase on the 27th, with companies like Jingrui Electric Materials hitting a 20% limit up, and others such as Canaan Technology and Nanda Optoelectronics rising over 13% [1]. - The market for photoresists in China is projected to grow to over 11.4 billion yuan in 2024 and reach 12.3 billion yuan by 2025 [2]. Group 2: Technological Advancements - A team led by Professor Peng Hailin from Peking University has achieved a breakthrough by using cryo-electron tomography to analyze the micro-3D structure and entanglement behavior of photoresist molecules in a liquid phase, which can guide the development of industrial solutions to reduce photoresist defects [1][2]. - The new standard for EUV photoresists, titled "Testing Methods for Extreme Ultraviolet (EUV) Photoresists," was publicly announced on October 23, with a deadline for comments set for November 22 [1]. Group 3: Industry Implications - The advancements in photoresist technology are expected to benefit the entire semiconductor supply chain, including upstream material suppliers, equipment manufacturers, midstream photoresist producers, and downstream application companies [2].

Core Viewpoint - The semiconductor-related stocks, particularly those involved in photolithography machines and photoresists, experienced significant gains in the market on October 27, with notable performances from specific companies [2] Group 1: Stock Performance - Tongcheng New Materials reached its daily limit up, indicating strong investor interest and confidence [2] - Aisen Co. and Jingrui Electric Materials both saw their stock prices increase by over 10%, reflecting positive market sentiment towards these companies [2] - Other companies such as Nanda Optoelectronics and Shanghai Xinyang also opened high, suggesting a broader rally in the sector [2]

Investment Rating - The report maintains an "Outperform" rating for the oil and petrochemical sector [1]. Core Viewpoints - The oil price has seen an increase due to intensified sanctions by the U.S. and Canada on Russian oil companies, with WTI crude futures rising by 6.53% and Brent crude futures by 7.09% from October 17 to October 24, 2025 [6]. - Geopolitical tensions, particularly regarding the fragile ceasefire in Gaza and the ongoing conflict between Russia and Ukraine, continue to impact oil prices [6]. - The U.S. government plans to purchase 1 million barrels of oil to replenish its strategic reserves, which may provide short-term support for oil prices [6]. - In the fluorochemical sector, the supply of popular refrigerants is tight, leading to sustained price increases, with domestic demand for refrigerants expected to rise in the fourth quarter [6]. - The semiconductor materials sector is experiencing a positive trend with inventory reduction and improving fundamentals, driven by domestic substitution [7]. Summary by Sections Oil and Petrochemicals - The report highlights the impact of U.S. sanctions on Russian oil companies and geopolitical tensions on oil prices [6]. - Basic data tracking indicates a slight decrease in U.S. commercial crude oil inventories, while gasoline and jet fuel inventories continue to decline [6][15]. - The report suggests that domestic oil companies are diversifying their oil and gas sources to reduce sensitivity to oil price fluctuations [7]. Fluorochemicals - The supply of second-generation refrigerants is decreasing due to policy restrictions, while demand for third-generation refrigerants is expected to grow, driven by government incentives [6]. - The report notes that the production of household air conditioners is projected to increase significantly in the last quarter of 2025, which will boost demand for refrigerants [6]. Semiconductor Materials - The semiconductor materials sector is witnessing an upward cycle, with inventory reduction trends and improving end-market conditions [7]. - The report recommends focusing on companies in the semiconductor materials sector that are benefiting from domestic substitution and cyclical recovery [7].