Core Viewpoint - Lianrui New Materials Co., Ltd. has shown a significant stock price increase of 5.38%, reaching 57.75 CNY per share, with a total market capitalization of 13.945 billion CNY as of October 24 [1] Company Overview - Lianrui New Materials Co., Ltd. was established on April 28, 2002, and listed on November 15, 2019. The company is located in Lianyungang, Jiangsu Province, and specializes in the research, manufacturing, and sales of inorganic fillers and particle carrier products [1] - The revenue composition of the company includes spherical inorganic powder (57.16%), angular inorganic powder (26.39%), and other products (16.32%) [1] Fund Holdings - Zhongyou Fund has a significant holding in Lianrui New Materials, with its fund "Zhongyou Specialized and New One-Year Holding Period Mixed A" (015505) reducing its position by 7,300 shares in the second quarter, maintaining a total of 117,000 shares, which represents 3.12% of the fund's net value [2] - The fund has achieved a year-to-date return of 33.29%, ranking 2185 out of 8154 in its category, and a one-year return of 28.96%, ranking 2358 out of 8025 [2] Fund Manager Information - The fund manager of Zhongyou Specialized and New One-Year Holding Period Mixed A is Cao Si, who has a tenure of 11 years and 154 days. The fund's total asset size is 471 million CNY, with the best return during his tenure being 107.3% and the worst being 0.1% [3]

Core Viewpoint - On October 17, Lianrui New Materials experienced a decline of 5.06%, trading at 53.88 CNY per share, with a transaction volume of 214 million CNY and a turnover rate of 1.62%, resulting in a total market capitalization of 13.01 billion CNY [1] Company Overview - Jiangsu Lianrui New Materials Co., Ltd. is located in Lianyungang City, Jiangsu Province, established on April 28, 2002, and listed on November 15, 2019. The company specializes in the research, manufacturing, and sales of inorganic fillers and granular carrier products [1] - The revenue composition of the main business includes spherical inorganic powder (57.16%), angular inorganic powder (26.39%), and other products (16.32%) [1] Shareholder Analysis - Noan Fund's Noan Pioneer Mixed A (320003) is among the top ten circulating shareholders of Lianrui New Materials, having entered the list in the second quarter with 1.4602 million shares, representing 0.6% of circulating shares. The estimated floating loss today is approximately 4.1908 million CNY [2] - Noan Pioneer Mixed A (320003) was established on December 19, 2005, with a latest scale of 3.84 billion CNY. Year-to-date returns are 35.18%, ranking 2130 out of 8160 in its category, while the one-year return is 45.87%, ranking 1490 out of 8021. Since inception, the return is 1143.04% [2] Fund Performance - The fund manager of Noan Pioneer Mixed A (320003) is Yang Gu, who has a cumulative tenure of 19 years and 243 days, managing assets totaling 5.133 billion CNY. The best fund return during his tenure is 1094.81%, while the worst is 8.34% [3] - Noan Research Preferred Mixed A (008185) holds Lianrui New Materials as a significant position, with 77,800 shares, accounting for 4.89% of the fund's net value. The estimated floating loss today is about 223,200 CNY [4] - Noan Research Preferred Mixed A (008185) was established on May 9, 2020, with a latest scale of 71.2857 million CNY. Year-to-date returns are 78.82%, ranking 137 out of 8160, while the one-year return is 65.03%, ranking 527 out of 8021. Since inception, the return is 32.72% [4] Fund Manager Profile - The fund manager of Noan Research Preferred Mixed A (008185) is Deng Xinyi, with a cumulative tenure of 3 years and 105 days, managing assets totaling 2.009 billion CNY. The best fund return during her tenure is 53.61%, while the worst is -16% [5]

Group 1 - The core point of the news is that Lianrui New Materials experienced a decline of 5.06% in stock price, reaching 53.88 CNY per share, with a trading volume of 214 million CNY and a turnover rate of 1.62%, resulting in a total market capitalization of 13.01 billion CNY [1] - Lianrui New Materials, established on April 28, 2002, and listed on November 15, 2019, is located in Lianyungang City, Jiangsu Province. The company specializes in the research, manufacturing, and sales of inorganic fillers and granular carrier products [1] - The revenue composition of Lianrui New Materials includes spherical inorganic powder at 57.16%, angular inorganic powder at 26.39%, and other products at 16.32%, with a minor contribution of 0.12% from supplementary products [1] Group 2 - From the perspective of major fund holdings, Lianrui New Materials is a significant investment for Changsheng Fund, with its Changsheng Transformation Upgrade Mixed Fund (001197) holding 97,000 shares, accounting for 2.36% of the fund's net value, ranking as the tenth largest holding [2] - The Changsheng Transformation Upgrade Mixed Fund (001197) was established on April 21, 2015, with a current scale of 192 million CNY. Year-to-date returns are at 20.88%, ranking 4231 out of 8160 in its category, while the one-year return is 15.32%, ranking 5165 out of 8021. Since inception, the fund has experienced a loss of 17.2% [2]

Core Insights - Lianrui New Materials has seen a stock price increase of 5.19% on September 24, reaching 61.59 CNY per share, with a trading volume of 446 million CNY and a turnover rate of 3.09%, resulting in a total market capitalization of 14.872 billion CNY [1] - The company's stock has risen for five consecutive days, accumulating a total increase of 8.03% during this period [1] Company Overview - Jiangsu Lianrui New Materials Co., Ltd. is located in Lianyungang City, Jiangsu Province, and was established on April 28, 2002, with its listing date on November 15, 2019 [1] - The company specializes in the research, manufacturing, and sales of inorganic fillers and particle carrier products, with its main business revenue composition being: spherical inorganic powder 57.16%, angular inorganic powder 26.39%, and others 16.32% [1] Fund Holdings - According to data from the top ten holdings of funds, one fund under China Merchants Fund has a significant position in Lianrui New Materials [2] - The fund "China Merchants Specialized and New Stocks A" (014185) increased its holdings by 43,600 shares in the second quarter, bringing the total to 224,800 shares, which accounts for 3.02% of the fund's net value, ranking as the ninth largest holding [2] - The estimated floating profit from the recent stock price increase is approximately 683,300 CNY, with a total floating profit of 977,700 CNY during the five-day increase [2] Fund Performance - The fund manager of "China Merchants Specialized and New Stocks A" is Han Bing, who has been in the position for 10 years and 146 days [3] - The fund currently has a total asset size of 838 million CNY, with the best return during Han Bing's tenure being 101.59% and the worst being -27.6% [3]

Group 1 - The core viewpoint of the news is that Lianrui New Materials has seen a significant stock price increase, with a 5.19% rise on September 24, reaching 61.59 yuan per share, and a total market capitalization of 14.872 billion yuan [1] - Lianrui New Materials has experienced a cumulative increase of 8.03% over the past five days, indicating strong market performance [1] - The company specializes in the research, manufacturing, and sales of inorganic fillers and particle carrier products, with its main revenue sources being spherical inorganic powder (57.16%), angular inorganic powder (26.39%), and others (16.32%) [1] Group 2 - Huafu Fund has a significant holding in Lianrui New Materials, with its Huafu Strategy Selected Mixed A fund holding 7,700 shares, accounting for 3.93% of the fund's net value, making it the seventh-largest holding [2] - The fund has generated a floating profit of approximately 23,400 yuan today and 33,500 yuan during the five-day increase [2] - The Huafu Strategy Selected Mixed A fund has a total scale of 7.9819 million, with a year-to-date return of 14.93% and a one-year return of 44.43% [2]

Core Viewpoint - Lianrui New Materials has shown a positive stock performance with a year-to-date increase of 13.11% and a recent market capitalization of 13.426 billion yuan, indicating strong investor interest and potential growth in the inorganic filler and particle carrier industry [1][2]. Company Overview - Lianrui New Materials, established on April 28, 2002, and listed on November 15, 2019, is located in Lianyungang, Jiangsu Province. The company specializes in the research, manufacturing, and sales of inorganic fillers and particle carrier products [1]. - The company's main revenue sources include spherical inorganic powder (57.16%), angular inorganic powder (26.39%), and other products (16.32%) [1]. Financial Performance - For the first half of 2025, Lianrui New Materials reported a revenue of 519 million yuan, reflecting a year-on-year growth of 17.12%. The net profit attributable to shareholders was 139 million yuan, marking an 18.01% increase compared to the previous year [2]. - Since its A-share listing, the company has distributed a total of 381 million yuan in dividends, with 242 million yuan distributed over the last three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders decreased by 3.27% to 7,692, while the average number of circulating shares per person increased by 34.39% to 31,392 shares [2]. - Notable institutional shareholders include Noan Pioneer Mixed A and Xinao Craftsman Selected Mixed, with increases in their holdings [3].

Core Viewpoint - Lianrui New Materials Co., Ltd. has shown a positive stock performance and financial growth, indicating potential investment opportunities in the inorganic filler and particle carrier industry. Group 1: Stock Performance - On September 12, Lianrui's stock rose by 2.07%, reaching 56.18 CNY per share, with a trading volume of 186 million CNY and a turnover rate of 1.40%, resulting in a total market capitalization of 13.566 billion CNY [1] - Year-to-date, Lianrui's stock price has increased by 14.29%, with a 6.22% rise over the last five trading days, a 3.85% decline over the last 20 days, and a 31.11% increase over the last 60 days [1] Group 2: Financial Performance - For the first half of 2025, Lianrui achieved a revenue of 519 million CNY, representing a year-on-year growth of 17.12%, and a net profit attributable to shareholders of 139 million CNY, up by 18.01% year-on-year [2] - Since its A-share listing, Lianrui has distributed a total of 381 million CNY in dividends, with 242 million CNY distributed over the past three years [3] Group 3: Shareholder Information - As of June 30, 2025, Lianrui had 7,692 shareholders, a decrease of 3.27% from the previous period, with an average of 31,392 circulating shares per shareholder, an increase of 34.39% [2] - Notable institutional shareholders include Nuoan Pioneer Mixed A, which holds 1.4602 million shares, and Xinao Craftsmanship Selected Mixed, which increased its holdings by 63,200 shares to 1.3799 million shares [3]

Core Viewpoint - Lianrui New Materials Co., Ltd. experienced a stock price increase of 5.06% on September 11, reaching 54.38 CNY per share, with a trading volume of 297 million CNY and a market capitalization of 13.131 billion CNY [1] Company Overview - Lianrui New Materials, established on April 28, 2002, and listed on November 15, 2019, is located in Lianyungang City, Jiangsu Province. The company specializes in the research, manufacturing, and sales of inorganic fillers and particle carrier products [1] - The revenue composition of the company includes spherical inorganic powder (57.16%), angular inorganic powder (26.39%), and other products (16.32%) [1] Shareholder Insights - Noan Fund's Noan Pioneer Mixed A (320003) fund entered the top ten circulating shareholders of Lianrui New Materials in the second quarter, holding 1.4602 million shares, which is 0.6% of the circulating shares. The estimated floating profit for today is approximately 3.8257 million CNY [2] - Noan Pioneer Mixed A has a total asset size of 3.84 billion CNY and has achieved a year-to-date return of 27.82%, ranking 2475 out of 8175 in its category [2] Fund Performance - Noan Research Preferred Mixed A (008185) holds 77,800 shares of Lianrui New Materials, making it the fourth-largest holding in the fund, with a net asset proportion of 4.89%. The estimated floating profit for today is around 203,700 CNY [4] - Noan Research Preferred Mixed A was established on May 9, 2020, with a total asset size of 71.2857 million CNY. It has achieved a year-to-date return of 33.14%, ranking 1768 out of 8175 in its category [4]

Company Overview - Jiangsu Lianrui New Materials Co., Ltd. is located in Lianyungang City, Jiangsu Province, and was established on April 28, 2002. The company went public on November 15, 2019. Its main business involves the research, manufacturing, and sales of inorganic fillers and particle carrier products [1]. Business Performance - The company's main revenue composition includes spherical inorganic powder (57.16%), angular inorganic powder (26.39%), and other products (16.32%), with a minor contribution from supplementary products (0.12%) [1]. Stock Performance - On September 1, Lianrui New Materials' stock fell by 5.22%, closing at 57.02 CNY per share, with a trading volume of 281 million CNY and a turnover rate of 1.99%. The total market capitalization is 13.769 billion CNY [1]. Fund Holdings - According to data, a fund under People's Insurance Asset holds a significant position in Lianrui New Materials. The fund, named Renbao Selected Mixed A (005041), reduced its holdings by 2,870 shares in the second quarter, now holding 35,100 shares, which accounts for 2.15% of the fund's net value, making it the third-largest holding [2]. Fund Performance - Renbao Selected Mixed A (005041) was established on February 1, 2018, with a latest scale of 73.4629 million CNY. Year-to-date, it has achieved a return of 22.42%, ranking 3,550 out of 8,254 in its category. Over the past year, it has returned 52.71%, ranking 2,336 out of 8,037, and since inception, it has returned 56.38% [2].

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for the stock price relative to the industry index over the next six months [5]. Core Views - The company is positioned as a leading domestic supplier of functional powder materials, expected to benefit from the explosive growth in advanced packaging, with a projected compound annual growth rate (CAGR) of 10.7% in the global advanced packaging market from 2023 to 2029 [5]. - The company's high-end products, particularly spherical inorganic powders, are experiencing significant growth, driven by the expanding market for high-bandwidth memory (HBM) packaging materials and increasing demand for high-performance electronic circuit substrates [3][4]. - The financial performance shows a strong upward trend, with a 17.12% year-on-year increase in revenue for the first half of 2025, and a 18.01% increase in net profit [11]. Financial Summary - For 2023, the company expects revenue of 712 million yuan, with a year-on-year growth rate of 7.5%. By 2027, revenue is projected to reach 1,637 million yuan, with a growth rate of 12.5% [15]. - The net profit attributable to the parent company is forecasted to be 174 million yuan in 2023, increasing to 488 million yuan by 2027, reflecting a growth rate of 17.0% [15]. - The company's return on equity (ROE) is expected to improve from 12.9% in 2023 to 20.2% in 2027, indicating enhanced profitability [15]. Revenue Breakdown - In the second quarter of 2025, the company reported a revenue of 281 million yuan, a quarter-on-quarter increase of 17.55%, and a net profit of 76 million yuan, up 19.94% from the previous quarter [9][10]. - The revenue from spherical inorganic powders and others is projected to be approximately 2.0 to 2.1 billion yuan in the second quarter of 2025, accounting for 74% of total revenue [3]. Market Trends - The demand for advanced packaging materials is accelerating due to developments in AI, high-performance computing (HPC), and automotive sectors, which is expected to drive the market for functional advanced powder materials [4]. - The company is focusing on high-end product research and development to capitalize on these market trends, particularly in the areas of thermal materials for electric vehicles and high-performance circuit boards [4].