Core Viewpoint - The company has approved the continued use of idle raised funds for cash management, allowing a maximum of 250 million RMB to be invested in safe and liquid financial products, ensuring that it does not affect the construction of fundraising projects [1][18]. Summary by Sections Basic Information - Jiangxi Chenguang New Materials Co., Ltd. plans to use up to 250 million RMB of idle raised funds for cash management, focusing on high safety and liquidity investment products [1][18]. Redemption of Idle Funds - On September 1, 2025, the company redeemed 250 million RMB from a financial product, achieving a total return of 5 million RMB, which aligns with expected returns [3]. Purpose of Cash Management - The company aims to maximize shareholder benefits by improving the efficiency of raised fund usage during project implementation, while ensuring that it does not impact the normal operation of fundraising projects [5]. Fundraising Overview - The company raised a total of 605.36 million RMB through the issuance of 46 million shares at a price of 13.16 RMB per share, with a net amount of 560.13 million RMB after deducting issuance costs [6]. Usage of Raised Funds - As of June 30, 2025, the cumulative investment progress of the raised funds in various projects has exceeded 100%, including interest and cash management returns [9]. Cash Management Products - The company selects low-risk, principal-protected financial products for cash management, ensuring compliance with internal funding management requirements [14]. Impact on Daily Operations - The continued use of idle funds for cash management will not affect the normal construction of fundraising projects or the company's main business, while also enhancing fund efficiency and potentially increasing returns for shareholders [16].

Core Viewpoint - Yunnan Energy Investment Group's subsidiary, Yuneng Silicon Material, has successfully developed and mass-produced low-cyclic vinyl silicone oil, enhancing its "Niu Yun" brand with an annual production capacity of 5,000 tons [1] Group 1: Market Pain Points and R&D - The high cyclic content in traditional vinyl silicone oil necessitates energy-intensive secondary vulcanization processes and affects the performance of downstream products, making it difficult to comply with EU REACH and RoHS environmental regulations [2] - In response to the urgent demand for ultra-pure, low-volatile, and high-stability materials in sectors like electronic packaging and biomedical applications, Yuneng Silicon Material upgraded its fully automated dimethyl silicone oil production line to produce low-cyclic vinyl silicone oil [2] - The upgrade achieved three main goals: enhanced process stability and product consistency through automated control, increased production capacity to meet or exceed the 5,000-ton design target, and ensured stable output of high-quality low-viscosity (1,000-20,000 mPa.s) and low-volatile (<0.1%) vinyl silicone oil [2] Group 2: R&D Journey - The R&D journey for low-cyclic vinyl silicone oil began in December 2024 and culminated in successful development by June 30, 2025, led by a six-member team at the Qujing branch [3] - The team faced numerous challenges, including extensive catalyst screening and optimization of polymerization processes, requiring hundreds of data validations and thousands of adjustments to parameters [3] - The successful production of the first batch of qualified silicone oil marked a significant achievement, reflecting the team's perseverance and commitment to high-end product development [3] Group 3: Strategic Empowerment and Product Advantages - The successful mass production of low-cyclic vinyl silicone oil has become a flagship product in the company's high-end strategy, offering core advantages such as ultra-purity (cyclic content <300 ppm), ultra-low volatility (<0.1%), excellent thermal stability (withstanding temperatures from -50°C to 250°C, and some models exceeding 300°C), and narrower molecular weight distribution [4] - This product provides ideal foundational material solutions for high-end electronic packaging, biomedical materials, high-temperature lubrication, precision manufacturing, high-performance material modification, and liquid silicone rubber (LSR) injection molding [4] Group 4: Commitment to Quality and Innovation - As a core enterprise in the organic silicone materials sector in Yunnan Province, Yuneng Silicon Material is dedicated to providing high-quality and environmentally friendly solutions through technological innovation and lean production [6] - The company aims to enhance its core competitiveness by focusing on cost reduction, product quality improvement, and new product development, continuously launching superior and more environmentally friendly low-cyclic products [6]

Core Insights - Wacker Chemie, a global leader in silicone materials, made a significant impact at the recent China International Supply Chain Promotion Expo by showcasing over 20 core products for the automotive and electronics sectors and launching four new products [1] - The company emphasizes the importance of deep dialogue within the supply chain, aiming to leverage its century-long technological expertise to empower local innovation in China [1] Group 1: Industry Trends - The expo highlighted the integration of silicone materials across the entire electric vehicle supply chain, from chips to batteries, showcasing the versatility of these materials in various applications [1] - Wacker's Vice President noted that the reconfiguration of the supply chain is creating new opportunities as silicone materials expand beyond traditional applications into new industries [1] Group 2: Local Innovation - China is recognized as the largest consumer market for electric vehicles, with growth rates surpassing the global average, prompting Wacker to focus on customer needs within the automotive supply chain [2] - The company introduced high-performance silicone materials, including fire-resistant materials for electric vehicle busbars that can rapidly ceramicize at 1000°C, exemplifying Wacker's commitment to "global technology + local application" [2] - Wacker has established a comprehensive network in China over the past 30 years, with three production bases and over 30 research laboratories, reflecting a total investment of €1.16 billion in the region [2] Group 3: Collaborative Ecosystem - Wacker aims to enhance chip performance through effective thermal management solutions, addressing the increasing demands for comfort and intelligence in modern vehicles [3] - The company expresses a strong desire to collaborate closely with upstream and downstream partners to provide reliable, high-performance products and solutions, further promoting the sustainable development of China's electric vehicle industry [3]

Core Viewpoint - The conference on green organic silicon polymer materials aims to enhance cooperation between China and Russia in the field of organic silicon chemistry and polymer materials, promoting sustainable development and innovation in this sector [1][2]. Group 1: Conference Overview - The conference was co-hosted by the China Fluorosilicone Organic Materials Industry Association, Shandong University, Zhejiang Sci-Tech University, and the Russian Academy of Sciences [1]. - Key figures such as Shandong University President Li Shucai and Russian Academy of Sciences Academician Aziz Muzafarov attended and delivered speeches [1]. Group 2: Goals and Objectives - The conference seeks to deepen collaboration in green organic silicon polymer materials, aiming to create a bridge for academic research and share green chemical technology [1]. - It focuses on the entire innovation chain from basic research to industrial application of organic silicon materials, exploring their innovative applications under the "carbon neutrality" goal [1]. Group 3: Collaborative Potential - Both China and Russia have complementary strengths in organic silicon materials research, and there is an expectation for deep collaboration to drive global materials science innovation [2]. - The conference emphasizes the importance of open cooperation and mutual benefits to overcome technical challenges and expand new applications and markets for organic silicon products [2].

2025 年 4 月 20 日下午，由北京化工大学新材料校友会主办， 上海臻禧实业有限公司、 埃米三江新材料产业创新中心、上海宝山技术转移有限公 司、有机功能材料与应用技术研究所、互联宝地滨江园、苏州市化工新材料产业创新联盟协办的有机硅材料应用创新共创沙龙，在上海宝山互联宝地滨 江园埃米三江新材料产业创新中心圆满举行。 本次沙龙聚焦有机硅材料在人形机器人、电子皮肤、汽车电子等前沿领域的应用，同时结合 AI 辅助设计、环保法规等热点议题，旨在搭建一个交 流、合作、共赢的平台，助力有机硅材料行业的高质量发展，挖掘创新机会。 活动吸引了近 30 人参加，上海宝山大学科技园发展有限公司党委书记、董事长朱景宏应邀出席了本次活动。活动由北化新材料校友会秘书长胡广君 主持。上海臻禧实业有限公司 、 上海埃米三江新材料科技有限公司董事长、北化新材料校友会副会长姜宝文发表开幕致辞，阐明了本次活动的初衷，希 望与有机硅行业同仁共同探讨行业发展面临的问题、卡点及创新机遇。 主题分享环节中，国金证券基础化工组研究员李含钰女士发表题为《有机硅材料：基本面分析与未来产业应用展望》的演讲。她指出，有机硅材料 凭借优良性能，在电子、电力、建 ...

Core Viewpoint - The organic silicon materials industry is entering a new growth cycle driven by the digital economy and "dual carbon" strategy, with Runhe Materials (300727) making significant advancements in liquid cooling technology and expanding its overseas market presence [1][9]. Group 1: Liquid Cooling Technology - Runhe Materials has achieved mass production in the immersion liquid cooling sector, with a customized three-in-one solution receiving positive market feedback and multiple customer pilot collaborations [1][2]. - The company's liquid cooling technology has demonstrated superior performance in viscosity, heat dissipation efficiency, stability, insulation, and compatibility under low-temperature conditions, making it suitable for energy storage and data center applications [2][3]. - The immersion cooling method significantly reduces energy consumption by 90%-95% compared to traditional air cooling systems, while also minimizing space requirements [3]. Group 2: Product Development and Innovation - Runhe Materials has introduced several ultra-low viscosity cooling liquids suitable for data centers, energy storage, electric vehicles, and base stations, with temperature ranges from -78°C to 200°C [5]. - The company has a strong patent portfolio with 75 patents, of which nearly 80% are invention patents, supporting its research and development capabilities [2][6]. - The ultra-low viscosity cooling liquids are competitively priced at a fraction of the cost of fluorinated liquids, while meeting national safety standards for non-flammability and non-explosiveness [6]. Group 3: Overseas Market Expansion - Runhe Materials has shown resilience in expanding its overseas business, achieving sales of 383 million yuan in 2024, accounting for 28.87% of total revenue, with a focus on localizing services to enhance customer loyalty [8]. - The company has strategically avoided significant exposure to international trade friction by limiting its revenue from the U.S. market to 1.14% [8]. Group 4: Financial Performance - In 2024, Runhe Materials reported a revenue of 1.327 billion yuan, a year-on-year increase of 16.96%, and a net profit of 96.24 million yuan, reflecting a growth of 17.06% [9]. - The company aims to balance capacity expansion with shareholder returns, emphasizing the importance of enhancing market competitiveness and efficient use of raised funds [9].