Core Viewpoint - Yangfan New Materials (300637) has not yet identified the application of its thiol compounds in solid-state battery technology, focusing instead on pharmaceutical and pesticide intermediates, as well as light-curing new materials [1] Company Summary - The company responded to investor inquiries on September 11, indicating a lack of awareness regarding the use of its thiol compounds in solid-state batteries [1] - The primary applications of the company's thiol compounds are in the pharmaceutical and pesticide sectors, along with light-curing new materials [1]

Group 1 - The company has not identified any application of its thiol compounds in solid-state batteries [2] - The primary applications of the company's thiol compounds are in pharmaceutical and pesticide intermediates, as well as in light-curing new materials [2]

Core Viewpoint - Yangfan New Materials (300637.SZ) is facing a significant event as its controlling shareholder and actual controller, Fan Peiren, has been placed under investigation and detention by the local authorities, although the company's control remains unchanged [1][2]. Group 1: Company Management and Structure - The daily operations of Yangfan New Materials are currently managed by the executive team, including Chairman Fan Bin and President Tao Ming, who are performing their duties normally [2]. - Fan Peiren, who previously served as the chairman from December 2015 to November 2017, is still a board member, while his son, Fan Bin, has taken over the chairman position [2]. - The controlling shareholder, Zhejiang Yangfan Holding Group Co., Ltd., holds a 22.04% stake in Yangfan New Materials as of June 30, 2025 [2]. Group 2: Financial Performance - Yangfan New Materials reported a revenue of 473 million yuan for the first half of 2025, representing a year-on-year increase of 47.93%, and a net profit of 23.14 million yuan, marking a turnaround from losses [3]. - The company attributes the revenue growth and profitability to stable prices and increased sales volumes of its light initiators and intermediate products [3]. Group 3: Market Reaction - On August 25, 2023, the stock price of Yangfan New Materials opened high but closed down by 1.23%, with a turnover rate of 12.27% [4].