同2021年一样，业绩表现的背后都是来自周期的馈赠。 | 作者 | | 观韬 | | --- | --- | --- | | 编辑 | | 小白 | 2026年1月5日，道氏技术（300409.SZ）放量涨停,单日换手率激增至18.43%,成交额放大至32亿，股价 强势突破前期平台。 复盘行情，道氏技术当日的股价表现跟"固态电池"与"脑机接口"两大前沿科技题材的叠加炒作密切相 关，尤其是马斯克宣布2026年启动脑机接口设备"大规模生产"更是彻底引爆了脑机接口板块。 （专业服务注册制的市值风云APP） 道氏技术同"脑机接口"概念的关系主要是其控股子公司认购了3000万的美金强脑科技Pre-B轮优先 股，强脑科技是"杭州六小龙"之一，在脑机接口技术领域颇有建树。 无独有偶，三七互娱也因为对强脑科技的2000万美元的投资同样在1月5日收获涨停。 当然，这也意味着强脑科技暂时无法对两家上市公司业绩层面带来实质影响，那么道氏技术现阶段的 基本面究竟如何呢？ 受益海外铜、钴布局，业绩 企稳 截止2026年1月5日，道氏技术尚未披露2025年业绩预告。从三季报来看，道氏技术前三季度营收60.0 1亿，同比还下滑了1.79% ...

2026年1月5日午后，创业板新能源ETF华夏（159368）涨幅扩大至2.52%。盘面上，成分股普涨，仅4只 个股下跌，道氏技术涨停，罗博特科上涨12.20%，先导智能、富临精工等涨超6%；截至发文，创业板 新能源ETF华夏（159368）成交额达6227万元，居同类基金首位。 消息面上，埃隆·马斯克2025年12月31日通过社交平台发布重磅消息，旗下脑机接口公司Neuralink计划 于2026年启动脑机接口设备大规模量产，并同步推出全自动化外科手术流程。这一规划标志着脑机接口 技术从临床验证阶段向产业化落地迈出关键一步，也成为A股人脑工程板块的强力催化。 公司面上，12月25日，道氏技术控股子公司认购强脑科技Pre-B轮优先股完成交割，推进碳材料在脑机 接口、电子皮肤等前沿领域的应用。作为国内最早量产单壁碳纳米管的企业之一，公司单壁碳纳米管粉 体性能已与进口产品相当，也是脑机接口电极材料的关键导电增强剂。 创业板新能源ETF华夏（159368）是全市场跟踪创业板新能源指数的规模最大ETF基金。创业板新能源 指数主要涵盖新能源和新能源汽车产业，涉及电池、光伏等多个细分领域。创业板新能源ETF华夏 （159 ...

以下文章来源于Carbontech ，作者Carbontech Carbontech . 据了解，其团队在多个技术方向都取得了代表性成果。 传播碳材料领域前沿资讯，带您进入碳时代！ 【DT新材料】 获悉，12月17日， " 北大-天奈科技单壁碳纳米管前沿应用与产业化联合实验室 "（以下简称"联合实验室"）在北京大学成功揭牌。 联合实验室的建立，旨在聚焦 单壁碳纳米管（SWCNT）在前沿应用领域的技术研发与成果转化 ，推动实验室成果向产业链下游的实用化、规模化落地， 对于拓展国内碳纳米管高端材料产业格局、构建具有全球竞争力的碳基新材料产业体系具有深远意义。 当前，随着固态电池、碳基电子器件与高性能复合结构材料需求快速增长， 单壁碳纳米管因其优异的导电网络构建能力、更高的比表面积和材料性能优 势，成为产业关注焦点 。 据悉 ，北京大学长期在碳纳米管和碳基电子技术领域保持国际领先水平 ，其 碳基电子学研究中心 聚焦于碳纳米管的结构控制生长、集成电路技术、碳基 传感器以及相关复合材料应用等核心科研方向，积累了深厚的基础与前沿技术实力。 在单壁碳纳米管可控制备与高纯度阵列材料形成方面 ，北京大学碳基电子学研究中心及其合 ...

12月15日，记者在江苏天工钛晶新材料有限公司的项目现场看到，厂房已进入主体施工阶段。通过 打造国内先进的等离子雾化制粉生产线，一个高端钛合金粉末生产基地正在加速建设。这家由江苏天工 科技股份有限公司（下称"天工股份"）控股，于今年8月设立的新公司，正全力切入增材制造（3D打 印）的产业链上游，填补国内高端钛合金粉末领域的空白。作为钛合金新材料领域的国家级专精特 新"小巨人"企业，天工股份依托国内首创的短流程制备技术，自今年5月在北交所上市以来市值已突破 125亿元，目前居北交所市值前五。 今年以来，资本市场"镇江板块"总量增至26家，其中境内上市公司23家，数量居全省第六。值得一 提的是，今年以来镇江北交所上市企业增量位列全省第二。金融活水持续浇灌科创"沃土"，为镇江产业 强市"一号战略"注入强劲动能。镇江市委书记马明龙表示，将以更有力度的金融服务，推动资金链和创 新链无缝衔接、资金链和产业链深度融合、资金链和人才链良性互动，深入打好"扬帆计划""云帆计 划"等金融赋能"组合拳"，帮助企业更好地借力资本东风、实现扬帆远航。 "镇江速度"凸显，上市梯队蓄势勃发 继天工股份之后，长江三星能源科技股份有限公司于今 ...

（来源：新华日报） □ 本报记者 晏培娟 艾培 通讯员 郑菡 12月15日，记者在江苏天工钛晶新材料有限公司的项目现场看到，厂房已进入主体施工阶段。通过打造 国内先进的等离子雾化制粉生产线，一个高端钛合金粉末生产基地正在加速建设。这家由江苏天工科技 股份有限公司（下称"天工股份"）控股，于今年8月设立的新公司，正全力切入增材制造（3D打印）的 产业链上游，填补国内高端钛合金粉末领域的空白。作为钛合金新材料领域的国家级专精特新"小巨 人"企业，天工股份依托国内首创的短流程制备技术，自今年5月在北交所上市以来市值已突破125亿 元，目前居北交所市值前五。 今年以来，资本市场"镇江板块"总量增至26家，其中境内上市公司23家，数量居全省第六。值得一提的 是，今年以来镇江北交所上市企业增量位列全省第二。金融活水持续浇灌科创"沃土"，为镇江产业强 市"一号战略"注入强劲动能。镇江市委书记马明龙表示，将以更有力度的金融服务，推动资金链和创新 链无缝衔接、资金链和产业链深度融合、资金链和人才链良性互动，深入打好"扬帆计划""云帆计划"等 金融赋能"组合拳"，帮助企业更好地借力资本东风、实现扬帆远航。 "镇江速度"凸显，上市 ...

Macro and Strategy - The inflation data indicates a continued trend of price improvement, with CPI slightly decreasing by 0.1% month-on-month and increasing by 0.7% year-on-year, while PPI increased by 0.1% month-on-month but decreased by 2.2% year-on-year [8][12]. Industry and Company Social Services Industry - The consumer services sector saw a 2.38% increase during the reporting period, with notable performers including Junting Hotel (up 14.27%) and Zhongjiao Holdings (up 12.73%) [8][9]. - The major event was the change of control of Junting Hotel to Hubei Provincial State-owned Assets Supervision and Administration Commission, with a transaction value of 1.499 billion yuan [9]. Non-Banking Sector - The release of the commercial health insurance innovative drug directory marks a significant step in the innovative drug payment sector, creating a "second battlefield" for medical payments and alleviating long-standing conflicts between cost control and innovation needs in the pharmaceutical industry [12]. Metal Industry - The tin industry is facing a supply shortage due to declining ore grades and regulatory challenges, with global tin resources estimated at 4.2 million tons and production at 300,000 tons in 2024 [13][14]. - The global tin supply is expected to decrease significantly in 2025, with a projected demand of 386,000 tons, leading to a supply-demand gap of approximately 16,000 tons [15][16]. SUTENG Technology - SUTENG Technology reported a 34% year-on-year increase in laser radar sales in Q3 2025, although total revenue decreased by 0.2% to 407 million yuan [17][18]. - The company is focusing on becoming a leading platform in robotics technology, with significant orders from major automotive manufacturers [18]. WenYuan ZhiXing - WenYuan ZhiXing achieved a 144% year-on-year revenue growth in Q3 2025, driven by increased sales of Robotaxi and Robobus [20][21]. - The company is expanding its L4 autonomous driving product commercialization, having received multiple licenses across several countries [22]. Yilian Network - Yilian Network is developing a comprehensive communication ecosystem, with a revenue CAGR of 22% from 2017 to 2024, and a focus on AI integration in its products [23][24]. - The company maintains a high gross margin above 60% and emphasizes cash flow management [23]. TianNai Technology - TianNai Technology is experiencing rapid growth in single-wall carbon nanotube products, with significant increases in production and profitability expected in the coming years [26][27].

Investment Rating - The investment rating for the company is "Outperform the Market" (maintained) [2][13] Core Views - The company is demonstrating confidence in its long-term growth by continuing its share repurchase program, with a total repurchase amount exceeding 55.69 million yuan as of November 30, 2025 [3] - The multi-wall carbon nanotube business is performing steadily, maintaining a leading market position, with estimated shipments exceeding 53,000 tons in the first three quarters of 2025 [3][5] - The single-wall carbon nanotube products are entering a rapid growth phase, significantly enhancing the company's profitability, with estimated shipments of over 2,600 tons in the first three quarters of 2025 [4][5] - The company is expected to achieve net profits of 306 million, 663 million, and 894 million yuan for the years 2025 to 2027, representing year-on-year growth of 22%, 117%, and 35% respectively [12][13] Summary by Sections Share Repurchase and Market Confidence - The company has repurchased 1.1424 million shares, with a total expenditure exceeding 55.69 million yuan, reflecting its confidence in rapid long-term development [3] Product Performance - The multi-wall carbon nanotube shipments are estimated to exceed 53,000 tons in the first three quarters of 2025, with a stable shipment of approximately 17,000 tons in Q3 [3][5] - The single-wall carbon nanotube products have started mass shipments, with Q3 shipments around 1,600 tons, doubling from the previous quarter, indicating a significant profit increase [4][5] Financial Projections - The company is projected to achieve revenues of 14.52 billion, 26.88 billion, and 34.91 billion yuan from carbon nanotube slurry and powder from 2025 to 2027, with corresponding gross margins of 38.3%, 40.5%, and 41.0% [7][12] - The new composite cathode materials are expected to start shipments in 2026, contributing to revenue growth, with projected revenues of 0.01 billion, 1.15 billion, and 3.81 billion yuan from 2025 to 2027 [8][12]

Core Viewpoint - Tianwei Technology is currently supplying single-walled and multi-walled carbon nanotubes to Samsung Group in South Korea, indicating a strong client relationship and potential for growth in the advanced materials sector [1] Company Summary - Tianwei Technology confirmed that Samsung Group is one of its clients, highlighting its involvement in the supply of carbon nanotubes [1]

Core Points - The article discusses the upcoming Carbontech 2025 International Carbon Materials Conference and Exhibition, focusing on material innovation driving industrial transformation [3] - The event will showcase advancements in carbon materials across various high-end applications, including energy storage and electric vehicles [3][18] - The conference will feature multiple specialized sessions and product launches, emphasizing the latest developments in carbon materials and battery technologies [3][18][21] Event Overview - Event Name: Carbontech 2025 International Carbon Materials Conference and Exhibition [3] - Theme: Material Innovation Driving Industrial Transformation [3] - Date: December 9-11, 2025 [3] - Location: Shanghai New International Expo Center [3] Exhibition Details - Exhibition Halls: N1 for Semiconductor Carbon Materials and N2 for Energy and Equipment Carbon Materials [3] - Exhibits will include various carbon materials such as graphite, silicon-carbon, hard carbon, and carbon fibers, along with production and processing equipment [3] Conference Sessions - The New Energy Carbon Materials and Battery Conference will focus on the preparation and application of carbon materials in battery industries [3][18] - Key topics include advancements in porous carbon, silicon-carbon anodes, and new nano-carbon materials [3][18] Schedule Highlights - December 9: Opening ceremony and expert tours [23] - December 10: Sessions on solid-state battery silicon-based anodes and graphene applications [19][20] - December 11: Discussions on high-end carbon materials and their commercialization [20] Transportation Information - Various transportation options to the venue include taxis, magnetic levitation trains, and public transit [8][9][10] - The venue is accessible via multiple metro lines, ensuring convenient access for attendees [9][10] Registration Fees - Registration fees are set at ¥1200 for corporate or research representatives and ¥800 for students [37] - Payment options include bank transfer and on-site payment methods [37][38]

[Table_Title] 证券研究报告/公司动态报告 单壁产品提升盈利能力、固态电池扩大市场空间 报告摘要： [Table_Summary] 固态电池大幅提升碳纳米管市场空间。在固态电池领域，由于其对导电 剂的性能和用量要求更高，单壁碳纳米管的市场空间更为广阔。根据高 工锂电预测，目前液态电池对碳纳米管导电剂的需求约为 20-30 吨每 GWh，而半固态电池的导电剂需求将大幅提升至 70-120 吨每 GWh。如 果液态电池碳纳米管添加量以 20 吨/GWh，半固态电池碳纳米管添加量 以 70 吨/GWh，半固态电池较液态电池增长 2.5 倍。鉴于固态电池在材 料特性与结构设计上的升级，其对碳纳米管导电剂的需求大概率远超半 固态电池。国内市场方面，新能源汽车渗透率增长 50%，结合固态电池 对碳纳米管导电剂需求是液态电池上限的 4 倍，预计中国市场固态电池 中碳纳米管导电剂需求有望扩大 5 倍。海外市场方面，新能源汽车渗透 率增长约 6 倍，结合需求倍数 4，海外固态电池中碳纳米管导电剂需求 有望扩大 27 倍。综合来看，在新能源汽车市场规模持续扩张与固态电池 技术革新的双重作用下，全球固态电池中的碳纳米管 ...