12月24日，中巨芯涨1.85%，截至发稿，报9.37元/股，成交1.91亿元，换手率3.47%，总市值138.42亿 元。中巨芯股价已经连续6天上涨，区间累计涨幅6.12%。 资料显示，中巨芯科技股份有限公司位于浙江省衢州市柯城区衢化街道中央大道247号2幢，成立日期 2017年12月25日，上市日期2023年9月8日，公司主营业务涉及电子湿化学品、电子特种气体和前驱体材 料的研发、生产和销售。主营业务收入构成为：电子湿化学品76.63%，电子特种气体及前驱体 21.25%，其他2.12%。 国联安中证全指半导体产品与设备ETF联接A（007300）基金经理为黄欣、章椹元。 截至发稿，黄欣累计任职时间15年257天，现任基金资产总规模425.87亿元，任职期间最佳基金回报 187.26%， 任职期间最差基金回报-35.8%。 章椹元累计任职时间12年23天，现任基金资产总规模414.91亿元，任职期间最佳基金回报387.76%， 任 职期间最差基金回报-35.8%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，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 ...

Group 1 - The core viewpoint of the news is that Zhongjuxin's stock has been performing well, with a 6-day consecutive increase and a total market value of 13.842 billion yuan [1] - Zhongjuxin Technology Co., Ltd. was established on December 25, 2017, and went public on September 8, 2023, focusing on the research, production, and sales of electronic wet chemicals, electronic specialty gases, and precursor materials [1] - The main revenue composition of Zhongjuxin includes electronic wet chemicals at 76.63%, electronic specialty gases and precursors at 21.25%, and others at 2.12% [1] Group 2 - Among the top ten circulating shareholders of Zhongjuxin, a fund under Huaxia Fund has entered the list, holding 4.4619 million shares, which is 0.76% of the circulating shares [2] - The Huaxia SSE Sci-Tech Innovation Board Semiconductor Materials and Equipment Theme ETF (588170) has a latest scale of 2.79 billion yuan and has achieved a return of 53.12% since its establishment on March 24, 2025 [2] - The fund manager of the Huaxia ETF, Yang Siqi, has a total asset scale of 11.248 billion yuan, with the best fund return during his tenure being 51.66% and the worst being -5.12% [2]

机构持仓方面，截止2025年9月30日，雅克科技十大流通股东中，香港中央结算有限公司位居第四大流 通股东，持股866.71万股，相比上期减少779.69万股。南方中证500ETF（510500）位居第六大流通股 东，持股414.60万股，相比上期减少8.27万股。国泰中证半导体材料设备主题ETF（159516）位居第八 大流通股东，持股300.82万股，为新进股东。国联安中证全指半导体产品与设备ETF联接A（007300） 退出十大流通股东之列。 责任编辑：小浪快报 资料显示，江苏雅克科技股份有限公司位于江苏省无锡宜兴经济开发区荆溪北路88号，成立日期1997年 10月29日，上市日期2010年5月25日，公司主营业务涉及研发、生产、销售电子材料、LNG保温绝热板 材和阻燃剂。主营业务收入构成为：半导体化学材料、光刻胶及配套试剂49.23%，LNG保温复合材料 27.13%，LNG工程安装7.91%，电子特种气体4.56%，LDS设备3.17%，阻燃剂3.15%，球形硅微粉 2.99%，其他业务1.88%。 截至11月28日，雅克科技股东户数5.93万，较上期减少3.50%；人均流通股5367股，较上期增加3 ...

Core Viewpoint - Zhongjuxin (688549.SH) announced the renewal of daily operational contracts with its major shareholder, Zhejiang Juhua Co., Ltd., aiming to standardize related transactions and ensure stable operations [1][3]. Group 1: Contract Details - The renewed daily operational contract will be effective for three years, from January 1, 2026, to December 31, 2028 [3]. - The contract encompasses arrangements for raw material and energy supply, public engineering maintenance services, transportation services, and environmental testing [3]. - The renewal is expected to reduce redundant investments and resource waste while safeguarding the legal rights of all parties involved [3]. Group 2: Company Background - Zhongjuxin was established in 2017 and focuses on electronic chemical materials, including electronic wet chemicals, specialty gases, and precursor materials [3]. - The company's products are widely used in manufacturing sectors such as integrated circuits, display panels, and photovoltaics [3]. - Since its listing on the Shanghai Stock Exchange's Sci-Tech Innovation Board in 2023, Zhongjuxin has been expanding its semiconductor manufacturing support business [3]. Group 3: Strategic Implications - The renewal of the contract is expected to enhance collaboration in raw material and energy assurance, as well as environmental and safety management [3]. - By leveraging Juhua's capacity and advantages in fluorochemical and gas sectors, Zhongjuxin aims to optimize its cost structure and supply chain flexibility [3]. - This strategic move is anticipated to support the expansion and technological upgrades of its electronic wet chemicals and specialty gases businesses [3]. Group 4: Financial Performance - In the first three quarters of 2025, Zhongjuxin achieved a revenue of 881 million yuan, representing a year-on-year growth of 17.56% [4]. - In the third quarter alone, the company reported a revenue of 314 million yuan and a net profit attributable to shareholders of 17.07 million yuan, reflecting year-on-year increases of 12.76% and 152.24%, respectively [4]. - The company plans to continue optimizing its production lines and product structure based on its existing business [4].

中巨芯围绕集成电路客户需求，对电子湿化学品、电子特种气体供应能力做了统筹布局，实施了扩能改 造项目和先进电子化学材料项目；公司专注于半导体材料领域，与中芯国际、长江存储、华虹集团等建 立了长期合作关系。公司产品如电子级氢氟酸、硫酸、硝酸等被认定为技术水平国际先进或国内领先， 打破国际垄断，实现降准替代。 12月5日，中巨芯在互动平台回答投资者提问时表示，公司产品已经稳定供应于中芯国际、SK海力士等 国内外知名集成电路制造企业，产品品质及持续稳定的供应能力已得到客户认可。公司紧跟市场与客户 的需求及变化，一是持续技术创新，丰富产品系列；二是加快市场开拓，尤其是境外半导体客户。 ...

Summary of Hangyang Co., Ltd. Conference Call Company Overview - Hangyang Co., Ltd. is a leading industrial gas company in China, benefiting from the stability of pipeline gas business and the flexibility of retail gas business, with a projected performance of approximately 1 billion yuan in 2025, primarily driven by pipeline gas contributions [2][12] Core Business Segments - The company's revenue structure consists of 70% from pipeline gas and 30% from retail gas, with plans to gradually increase the retail gas proportion to enhance profitability [2][5] - Core business areas include industrial gas equipment, pipeline gas, and retail gas, with pipeline and retail gas being significant growth drivers [10] Industry Dynamics - The Chinese industrial gas market is highly concentrated, with the top five companies holding over 70% market share. Hangyang is among these leaders, and successful integration with Yingde Gas could significantly enhance market share and pricing power [2][6] - The investment logic for the industrial gas industry in 2026 is based on supply-side reforms and increased market concentration, with expected profit compound annual growth rate (CAGR) close to 20% over the next three years [4] Growth Opportunities - Hangyang is actively expanding into controllable nuclear fusion, commercial aerospace, and hydrogen energy sectors, aligning with national development priorities under the "14th Five-Year Plan," which will provide new growth momentum [2][8] - The controllable nuclear fusion sector is expected to create significant demand for low-temperature systems, with potential value contribution of 5% to 16% from this business [7] Competitive Positioning - Hangyang's current valuation is approximately 20 times earnings, lower than international peers like Linde and Air Liquide, which are valued at 25-30 times. The company’s valuation is expected to align more closely with these peers as it advances in nuclear fusion and industry consolidation [3][9][15] - The company possesses strong defensive attributes due to long-term contracts in pipeline gas, ensuring stable revenue even during economic downturns [11][12] Future Projections - Hangyang's performance is projected to grow by over 15% in 2025, with sustained growth of around 20% in 2026 and 2027. If the economic cycle reverses, growth rates could exceed 30% or even 50%, indicating potential for the market capitalization to double [2][9][15] Conclusion - Hangyang Co., Ltd. is well-positioned in the industrial gas sector with a robust growth strategy, strong market presence, and significant opportunities in emerging fields, making it a compelling investment opportunity in the context of industry consolidation and technological advancements [2][4][8]

Core Viewpoint - The company, Huate Gas, has shown significant acceleration in profit growth in the third quarter, driven by new product releases and market optimization despite a decline in revenue and net profit in the first three quarters of the year [1] Group 1: Financial Performance - In the first three quarters of the year, Huate Gas achieved operating revenue of 1.044 billion yuan, a year-on-year decrease of 1.36%, and a net profit of 119 million yuan, down approximately 10% [1] - The third quarter saw a recovery in performance, with revenue and net profit both increasing year-on-year; net profit grew by 12.45%, reaching 41.07 million yuan [1] - The overall gross margin improved, with the company's gross margin rising by about 2 percentage points to 34% in the first three quarters [3] Group 2: Product Development and Market Strategy - The company has been focusing on the semiconductor materials industry, anticipating steady growth driven by technological advancements and increasing market demand, particularly in AI semiconductors [2] - Huate Gas is strategically positioned in the HBM (High Bandwidth Memory) industry chain, providing advanced etching gases for TSV (Through-Silicon Via) processes [3] - The company is accelerating the commercialization of high-end electronic specialty gases such as silane, hydrogen bromide, and boron trichloride, with sales orders already generated for these new products [3] Group 3: Future Outlook - The semiconductor manufacturing materials market is expected to grow nearly 8% year-on-year by 2025, with an average annual growth rate of 5.6% from 2023 to 2028, potentially exceeding 84 billion USD by 2028 [2] - The company plans to enhance its production capacity and develop high-value-added products through various strategies, including new project development, deepening gas source cooperation, and optimizing business models [3]

Group 1 - The core point of the news is the decline in the stock price of China Shipbuilding Special Gas, which fell by 5.03% to 42.12 CNY per share, with a trading volume of 278 million CNY and a turnover rate of 4.48%, resulting in a total market capitalization of 22.299 billion CNY [1] - China Shipbuilding Special Gas, established on December 21, 2016, and listed on April 21, 2023, focuses on the research, production, and sales of electronic special gases and trifluoromethanesulfonic acid series products, with main business revenue composition being 87.89% from electronic special gases, 10.70% from trifluoromethanesulfonic acid series, and 1.41% from other sources [1] Group 2 - From the perspective of major fund holdings, one fund under Great Wall Fund has a significant position in China Shipbuilding Special Gas, with Great Wall Jiurun Mixed A (002512) holding 28,200 shares, accounting for 6.44% of the fund's net value, making it the largest holding [2] - Great Wall Jiurun Mixed A (002512) has a total scale of 18.9091 million CNY and has achieved a return of 28.73% this year, ranking 3335 out of 8140 in its category, with a one-year return of 23.11%, ranking 3228 out of 8056 [2] Group 3 - The fund manager of Great Wall Jiurun Mixed A (002512) is Chen Ziyang, who has been in the position for 2 years and 94 days, managing a total asset scale of 12.7 million CNY, with the best fund return during his tenure being 56.44% and the worst being 28.4% [3]

Core Viewpoint - The company, China Shipbuilding (邯郸) Special Gas Co., Ltd., has recently gained a qualified supplier certification from Japan's GIGAPHOTON for its photolithography gas products, enhancing its competitiveness in the semiconductor industry [3]. Company Overview - China Shipbuilding Special Gas Co., Ltd. is a subsidiary of China Shipbuilding Industry Corporation, primarily engaged in the research, production, and sales of electronic specialty gases and trifluoromethanesulfonic acid series products [2][4]. - The company was established on December 21, 2016, and went public on April 21, 2023. Its main business revenue composition includes 87.89% from electronic specialty gases, 10.70% from trifluoromethanesulfonic acid series, and 1.41% from other sources [9]. Recent Developments - The company’s photolithography gas products (Kr/Ne, Ar/Ne/Xe) have met the stringent requirements of the high-end semiconductor manufacturing sector, as evidenced by the certification from GIGAPHOTON, which is valid until July 23, 2030 [3]. - The National Integrated Circuit Fund Phase II holds 6.3546 million shares of the company, accounting for 1.20% of the total share capital [4]. Financial Performance - For the period from January to September 2025, the company achieved a revenue of 1.607 billion yuan, representing a year-on-year growth of 16.27%, and a net profit attributable to shareholders of 245 million yuan, up 4.87% year-on-year [10]. - The company has distributed a total of 308 million yuan in dividends since its A-share listing [11]. Market Position - The company is categorized under the semiconductor materials sector and is recognized as a "中字头" stock, indicating its control by state-owned enterprises or central government agencies [5][10]. - As of September 30, 2025, the company had 11,900 shareholders, with an average of 12,159 circulating shares per person, reflecting a decrease of 16.21% in shareholder numbers compared to the previous period [10].

Group 1 - The stock price of China Shipbuilding Special Gas Co., Ltd. (中船特气) decreased by 2.02% on November 11, trading at 44.53 CNY per share with a total market capitalization of 23.575 billion CNY [1] - Year-to-date, the stock has increased by 54.26%, with a recent decline of 2.98% over the last five trading days, a 6.94% increase over the last 20 days, and a 26.54% increase over the last 60 days [1] - The company has appeared on the "Dragon and Tiger List" twice this year, with the most recent instance on October 28, where it recorded a net buy of -12.4898 million CNY [1] Group 2 - China Shipbuilding Special Gas was established on December 21, 2016, and went public on April 21, 2023, focusing on the research, production, and sales of electronic special gases and trifluoromethanesulfonic acid series products [2] - The main revenue sources are electronic special gases (87.89%), trifluoromethanesulfonic acid series (10.70%), and other (1.41%) [2] - As of September 30, 2025, the company reported a revenue of 1.607 billion CNY, a year-on-year increase of 16.27%, and a net profit attributable to shareholders of 245 million CNY, up 4.87% year-on-year [2] Group 3 - Since its A-share listing, China Shipbuilding Special Gas has distributed a total of 308 million CNY in dividends [3] - As of September 30, 2025, the top ten circulating shareholders include several new entrants, such as Invesco Great Wall Electronic Information Industry Fund and Invesco Great Wall Preferred Mixed Fund [3] - The number of shareholders decreased by 16.21% to 11,900, while the average circulating shares per person increased by 19.35% to 12,159 shares [2][3]