点击 最 下方 关注《材料汇》 ， 点击"❤"和" "并分享 添加 小编微信 ，寻 志同道合 的你 正文 电子陶瓷是无源电子元件的核心材料，是电子信息技术的重要材料基础。近年来，随着电子信息技术日 益走向集成化、薄型化、智能化和微型化，以半导体技术为基础的有源器件和集成电路迅速发展，而无 源电子元件日益成为电子元器件技术的发展瓶颈，因此 电子陶瓷材料及其制备加工技术越来越成为制 约电子信息技术发展的重要核心技术之一 。 我国是无源电子元件大国，从产品产量上看，无源元件的产量占到了全球的40%以上；但不是强国，元 件产值不足全球产值的四分之一，高端元件大量依赖进口。 电子陶瓷材料及技术是制约高端元件发展的重要因素之一 。从战略高度研判国内外电子陶瓷材料与元 器件技术的发展现状，分析我国相关领域的问题及对策，对于推动我国高端电子元器件产业的发展具有 重要意义。 一、国际电子陶瓷产业技术发展现状与趋势 从全球电子陶瓷产业技术水平看，日本和美国处于世界的领先地位。 其中，日本凭借其超大规模的生 产和先进制备技术，在世界电子陶瓷市场中具有主导地位，占有世界电子陶瓷市场50%以上的份额。 美国在基础研究和新材料开发方面力 ...

Financial Performance - In the first half of 2025, Zhongci Electronics reported revenue of 1,398,044,740.97 yuan, representing a year-on-year increase of 14.37% [3][4] - The net profit attributable to shareholders was 277,926,203.71 yuan, up 30.92% compared to the same period last year [3][4] - The net profit after deducting non-recurring gains and losses reached 264,113,095.07 yuan, marking a 55.06% increase year-on-year [3][4] - The net cash flow from operating activities was 338,130,206.72 yuan, reflecting a 6.42% increase from the previous year [4] - Basic and diluted earnings per share were both 0.62 yuan, a rise of 31.91% compared to the previous year [4] - The weighted average return on equity was 4.50%, an increase of 0.78% from the previous year [4] Asset Overview - As of the end of the first half of 2025, Zhongci Electronics had total assets of 7,714,545,249.42 yuan, which is a 1.63% increase year-on-year [3][4] - The net assets attributable to shareholders were 6,127,666,975.41 yuan, up 1.55% from the end of the previous year [3][4] Industry Position - Zhongci Electronics is a high-tech enterprise with core competencies in GaN communication base station RF chips and devices, SiC power modules, and electronic ceramics [3][4] - Guolian Wanzhong is one of the early domestic research and production units for SiC power semiconductors, holding multiple patents in third-generation semiconductor products [6] - Guolian Wanzhong's SiC power modules include series products of 650V, 1200V, and 1700V, primarily applied in new energy vehicles, industrial power supplies, and renewable energy inverters [6] - The company aims to advance in the high-voltage SiC power module sector to capture market share in high and ultra-high voltage fields, partially replacing IGBT power modules [6] - Beijing Guolian Wanzhong upgraded its SiC chip wafer process line from 6 inches to 8 inches, which is currently in the product upgrade and customer introduction phase [6]

Core Viewpoint - Yunzhu Technology (688260.SH) reported a significant decline in revenue and an increase in losses for the first half of 2025, indicating challenges in the consumer electronics sector and operational adjustments [1] Financial Performance - The company achieved revenue of 246 million yuan, a year-on-year decrease of 17.66% [1] - The net profit attributable to shareholders was a loss of 99.94 million yuan, with a non-recurring net profit loss of 104 million yuan [1] - Basic earnings per share were -0.8328 yuan [1] Reasons for Performance Decline - The decline in revenue and increased losses were primarily due to: 1. A delay in the release schedule of new consumer electronics models, leading to a decrease in orders [1] 2. Adjustments in marketing strategies and customer order optimization following thorough credit evaluations of downstream clients [1] 3. The exclusion of revenue from the previously controlled subsidiary, which was not included in the current consolidated financial statements, resulting in an adjusted revenue decline of 8.96% [1] 4. High fixed costs associated with the MLCC investment project, which is still in a loss-making state due to significant expenditures on factory construction and equipment acquisition [1] Future Outlook - The company anticipates improvement in overall operational performance as the production capacity of its electronic ceramics business increases [1]

Core Viewpoint - Zhejiang Xinna Materials Technology Co., Ltd. (hereinafter referred to as "Xinna Technology") has completed its IPO counseling filing with the Zhejiang Securities Regulatory Bureau and plans to list on the Beijing Stock Exchange after withdrawing its application for the Shenzhen Stock Exchange due to policy changes [2][4]. Group 1: Company Overview - Xinna Technology was established in 1994 and is primarily engaged in the research, production, and sales of inorganic non-metallic materials, with main products including silica and electronic ceramics [2][4]. - The controlling shareholder of Xinna Technology is Hengdian Group Holding Co., Ltd., which holds an 89% stake in the company [4][5]. Group 2: Financial Performance - In 2024, Xinna Technology achieved an operating income of 1.198 billion yuan, representing a year-on-year increase of 9.27% [3]. - The net profit attributable to shareholders of the company was 78.42 million yuan, a decrease of 7.81% compared to the previous year [3]. - The basic earnings per share for the company was 0.21 yuan, down 4.55% from the previous year [3]. Group 3: Management Changes - He Junyi has been appointed as the new Chairman and General Manager of Xinna Technology as of August 2024, following the resignation of the previous chairman due to age reasons [6]. - Several other management changes occurred, including the appointment of new deputy general managers and independent directors to support the company's development needs [6].

Core Insights - The report titled "2025-2031 China Advanced Ceramics Industry Market Analysis and Development Trend Report" provides a comprehensive analysis of the advanced ceramics industry in China, highlighting market trends and growth potential [1] - The advanced ceramics industry is characterized by high strength, high temperature resistance, and excellent biocompatibility, making it crucial for strategic emerging fields such as electronics, medical, and new energy [4][7] - The market size of the advanced ceramics industry is projected to reach approximately 109 billion yuan in 2024, with expectations to grow to 116.7 billion yuan by 2025, driven by demand in sectors like 5G communication and electric vehicles [4][10] Industry Overview - Advanced ceramics, also known as engineering ceramics, are made from high-purity inorganic compounds and exhibit superior properties compared to traditional ceramics, which are primarily used in everyday applications [3][4] - The industry has developed a complete supply chain from raw material preparation to product design and application development, with upstream focusing on ceramic powders and production equipment, and downstream applications spanning various high-tech fields [7] Market Dynamics - The advanced ceramics market is experiencing continuous expansion, with significant growth driven by emerging applications such as solid-state battery separators and automotive-grade electronic ceramics [4][10] - The competitive landscape features tiered structures, with leading companies like Chaozhou Three-Circle, Guocera Materials, and Fenghua Gaoke dominating the high-end market, while smaller firms focus on niche segments [10] Future Outlook - The report predicts a shift towards intelligent production and green manufacturing in the advanced ceramics industry, aiming to establish a collaborative innovation ecosystem across the entire supply chain [4][10] - The industry is expected to face challenges related to import dependency in high-end materials, but domestic substitution policies and technological advancements are anticipated to drive growth [4][10]

Core Insights - In 2024, Zhongci Electronics (003031.SZ) focuses on business development and core technology innovation, enhancing R&D capabilities, product quality, and production efficiency, leading to a nearly 60% year-on-year growth in net profit excluding non-recurring items [1] - For Q1 2025, Zhongci Electronics reported revenue of 614 million yuan, a year-on-year increase of 12.01%, and net profit growth of 48.81% to 123 million yuan, with net profit excluding non-recurring items increasing by 68.76% to 114 million yuan [1] - Zhongci Electronics is a high-tech enterprise with core capabilities in GaN RF chips for communication base stations, SiC power modules, and electronic ceramics, positioning itself as a leading player in the domestic electronic ceramics market [1] Industry Position - Zhongci Electronics is one of the few domestic manufacturers capable of competing with internationally renowned companies in the ceramic shell product series, recognized as a major representative of China's electronic ceramics [2] - The company has been acknowledged as a world-class professional leading demonstration enterprise by the State-owned Assets Supervision and Administration Commission and as a "little giant" enterprise by the Ministry of Industry and Information Technology, highlighting its significant influence in the domestic electronic ceramics industry [2] - According to research from Zheshang Securities, Zhongci Electronics is deeply engaged in the domestically controlled core sector, with precision ceramic components achieving mass supply, addressing critical supply chain issues, and potentially boosting its valuation [2]