声明：市场有风险，投资需谨慎。本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成 个人投资建议。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验， 因此本文内容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联 系biz@staff.sina.com.cn。 责任编辑：小浪快报 2026年1月27日，三祥新材（sh603663）触及涨停，涨停价41.47元，涨幅10%，总市值175.54亿元，流 通市值175.34亿元，截止发稿，总成交额8.64亿元。 根据喜娜AI异动分析，三祥新材涨停原因可能如下，业绩增长+核级海绵锆： 1、三祥新材2025年业绩 预增明显，净利润预增31.99%-71.58%，第三季度单季净利润同比增长133.44%，良好的业绩表现吸引 投资者关注，推动股价上涨。核级海绵锆业务成为主要增长点，显示公司产业链布局成效显著，该业务 的突出表现为股价涨停提供了有力支撑。 2、公司专注于新材料研发生产，形成"锆系、镁系、先进陶 瓷系"三大业务 ...

Core Viewpoint - The company expects a significant increase in net profit for the year 2025, projecting a rise of over 50% compared to the previous year, driven by strategic developments in its zirconium product chain and market expansion efforts [1][7]. Group 1: Performance Forecast - The company anticipates a net profit attributable to shareholders of approximately 100 million to 130 million yuan for 2025, representing a year-on-year increase of 24.24 million to 54.24 million yuan, or a growth of 31.99% to 71.58% [3][5]. - The expected net profit, excluding non-recurring gains and losses, is projected to be around 93 million to 123 million yuan, with a year-on-year increase of 20.19 million to 50.19 million yuan, translating to a growth of 27.72% to 68.93% [3][5]. Group 2: Previous Year’s Performance - In the previous year, the total profit was 73.66 million yuan, with a net profit attributable to the parent company of 75.76 million yuan, and a net profit excluding non-recurring gains and losses of 72.81 million yuan [5]. Group 3: Reasons for Performance Increase - The increase in performance is attributed to the company's deepening of the zirconium product industry chain, continuous optimization of customer structure, and a significant contribution from the nuclear-grade zirconium sponge business segment, which has enhanced profitability [7].

Core Viewpoint - The company expects to achieve a net profit attributable to shareholders of approximately 100 million to 130 million yuan in 2025, representing a year-on-year increase of 24.2351 million to 54.2351 million yuan, which corresponds to a growth rate of 31.99% to 71.58% [1] Group 1 - The company is focusing on deepening its zirconium product industry chain and continuously enhancing its industry chain layout while expanding application scenarios [1] - The nuclear-grade sponge zirconium business segment is expected to contribute significantly to the profit increase [1] - The company is actively exploring emerging markets and optimizing its customer structure, aiming to increase the proportion of high-end customers, which will drive steady improvement in profitability [1]

Core Viewpoint - The company expects to achieve a net profit attributable to shareholders of approximately 100 million to 130 million yuan in 2025, representing a year-on-year increase of 24.2351 million to 54.2351 million yuan, which corresponds to a growth rate of 31.99% to 71.58% [1] Group 1 - The company is focusing on deepening its zirconium product industry chain and continuously enhancing its industry chain layout while expanding application scenarios [1] - The nuclear-grade sponge zirconium business segment is expected to contribute significantly to the profit increase [1] - The company is actively exploring emerging markets and optimizing its customer structure, aiming to increase the proportion of high-end customers and steadily improve profitability [1]

Core Viewpoint - The company expects a significant increase in net profit for the year 2025, driven by strategic initiatives in the zircon product industry and market expansion efforts [1] Group 1: Financial Performance - The company forecasts a net profit attributable to shareholders of approximately 100 million to 130 million yuan for 2025, representing a year-on-year increase of 24.2351 million to 54.2351 million yuan [1] - The expected growth rate for net profit is between 31.99% and 71.58% compared to the previous year [1] Group 2: Business Strategy - The primary reason for the performance change is the company's deepening of the zircon product industry chain and continuous optimization of its application scenarios [1] - The company is actively expanding into emerging markets while optimizing its customer structure, which has led to an increase in the proportion of high-end customers [1] - These strategic moves are expected to steadily improve profitability and drive profit growth [1]

Core Viewpoint - Sanxiang New Materials (603663.SH) expects a significant increase in net profit for the year 2025, projecting a range of approximately 100 million to 130 million yuan, representing a year-on-year growth of 31.99% to 71.58% [1] Financial Performance - The company anticipates that the net profit attributable to shareholders, excluding non-recurring gains and losses, will be around 93 million to 123 million yuan, reflecting a year-on-year increase of 27.72% to 68.93% [1] Business Strategy - In 2025, the company will focus on deepening its zirconium product industry chain, continuously enhancing its industry chain layout, and expanding application scenarios [1] - The nuclear-grade sponge zirconium business segment is expected to contribute significantly to revenue growth [1] - The company is actively exploring emerging markets while optimizing its customer structure, aiming to increase the proportion of high-end customers and steadily improve profitability [1]

Core Viewpoint - Sanxiang New Materials (603663) expects a net profit attributable to shareholders of approximately 100 million to 130 million yuan for 2025, representing a year-on-year growth of 31.99% to 71.58% [1] Group 1: Business Performance - The company is focusing on the zirconium product industry chain, enhancing its layout and expanding application scenarios [1] - The nuclear-grade sponge zirconium business has contributed significantly to the incremental growth [1] Group 2: Market Strategy - The company is exploring emerging markets and optimizing its customer structure [1] - There is an increase in the proportion of high-end customers, which is driving steady improvement in profitability [1]

Core Viewpoint - Sanxiang New Materials (603663.SH) expects a net profit attributable to shareholders of approximately 100 million to 130 million yuan for 2025, representing a year-on-year growth of 31.99% to 71.58% [1] Group 1: Business Performance - The company has been focusing on the zirconium product industry chain, deepening its layout and expanding application scenarios [1] - The nuclear-grade sponge zirconium business has contributed significantly to the incremental growth [1] Group 2: Market Strategy - The company is exploring emerging markets and optimizing its customer structure [1] - There is an increase in the proportion of high-end customers, which is driving steady improvement in profitability [1]

Core Viewpoint - The company expects to achieve a net profit attributable to shareholders of approximately 100 million to 130 million yuan in 2025, representing a year-on-year increase of 24.2351 million to 54.2351 million yuan, or a growth of 31.99% to 71.58% [1] Financial Projections - The projected net profit attributable to shareholders, excluding non-recurring gains and losses, is expected to be around 93 million to 123 million yuan, with a year-on-year increase of 20.187 million to 50.187 million yuan, translating to a growth of 27.72% to 68.93% [1] Business Strategy - In 2025, the company will focus on deepening its zirconium product industry chain, continuously enhancing its industry chain layout, and broadening application scenarios [1] - The nuclear-grade sponge zirconium business segment is expected to contribute significantly to the incremental growth [1] - The company is actively exploring emerging markets while optimizing its customer structure, aiming to increase the proportion of high-end customers and steadily improve profitability [1]

Summary of the Conference Call for Sanxiang New Materials Company Overview - **Company**: Sanxiang New Materials - **Industry**: Zirconium materials, including capacitors, refractory materials, and high-purity oxides Key Points Production Capacity and Market Position - Sanxiang New Materials has a leading global production capacity of **26,000 tons** for capacitor-grade zirconium oxide, with a market share exceeding **30%** and an annual shipment volume of approximately **16,000 to 17,000 tons** [2][3] - The company has an industrial-grade sponge zirconium production capacity of **3,000 to 3,500 tons**, expecting to ship **3,000 tons** in **2025**, capturing over **50%** of the global market and more than **70%** domestically [2][5] Future Projects and Revenue Projections - Plans to launch a **1,300-ton** nuclear-grade sponge zirconium project by **2025**, with confirmed orders totaling **850 tons** from France's Framatome and domestic reserves [2][5] - Anticipated revenue growth for **2025** and **2026**, with traditional business expected to contribute **100 to 150 million yuan** in net profit, sponge zirconium orders contributing **130 to 150 million yuan**, and high-purity oxides contributing **250 to 500 million yuan**, leading to a total profit estimate of at least **400 million yuan** [4][15] Technological Advancements - Breakthrough in zirconium-hafnium separation technology expected to achieve **5 nines** (99.999%) purity, set for full production in **Q2 2026**, which will lower raw material costs and create a closed-loop supply chain [6][4] - The company is also developing a **rutile project** that will not only address raw material issues but also generate high-purity hafnium as a byproduct, significantly enhancing profitability [9] Market Demand and Pricing Trends - Global demand for high-purity materials is increasing, with major suppliers facing production constraints due to environmental regulations, allowing Sanxiang to fill the supply gap [10] - High-end metal prices are nearing **50 million yuan per ton**, with expectations for continued price increases due to tight supply and weak domestic low-end demand [11][12] Applications and Market Expansion - High-purity metals are in demand across various sectors, including aerospace, commercial space, and nuclear power, with applications in high-temperature environments [14] - The company is actively expanding into international markets, including Russia, the USA, and Italy, and is the only company capable of producing over **1,000 tons** of alloy sponge zirconium [7][8] Competitive Position and Domestic Substitution - Sanxiang's products are nearing the quality of international counterparts while maintaining a cost advantage, achieving **5 nines** purity with low impurity levels [21] - The domestic market is expected to see rapid penetration of Sanxiang's products as they undergo shorter validation cycles compared to traditional materials [22] Future Price Trends for Nuclear Zirconium - Anticipated price increases for nuclear-grade zirconium materials in **2026**, driven by expansion plans from major storage companies and increased raw material demand [20] Additional Important Insights - The company has established a strong customer base, including top-tier firms in the nuclear sector, and is positioned to maintain a dominant market share through technological advancements and cost control [19] - The verification cycle for nuclear materials is lengthy, but for upstream materials like alloy sponge zirconium, it is relatively short, facilitating quicker market entry [22]