10月1日，北京天宜上佳高新材料股份有限公司（证券代码：688033，简称"天宜新材"）公告，披露公 司银行账户被冻结及涉及诉讼的最新进展情况。 10月1日，北京天宜上佳高新材料股份有限公司（证券代码：688033，简称"天宜新材"）公告，披露公 司银行账户被冻结及涉及诉讼的最新进展情况。 资料显示，天宜新材成立于2009年，2019年7月正式在科创板上市，是国内高铁动车组用粉末冶金闸片 的领军企业。 2021年，天宜新材正式进入光伏热场碳碳复合材料领域，凭借设备单产效率高、单吨电耗小、制造成本 低等优势，迅速成为碳碳光伏辅材领域的头部企业；2022年，天宜新材完成对新毅阳收购，又进入了光 伏坩埚领域。 目前，天宜新材光伏新能源业务板块以天力新陶、天启光峰、新毅阳以及天启颐阳为主体开展相关业 务，主要从事光伏热场、锂电负极用碳碳复合材料制品及石英坩埚的研发、生产和销售。 公告显示，截至公告披露日，天宜新材共涉及尚未结案被诉案件 22 起，涉诉金额合计约为 2.26 亿元 （不含延迟支付的利息、违约金、诉讼费等）。公司目前面临较多金融机构、供应商对公司及子公司欠 款提起的法律诉讼事项，部分账户被查封冻结。若后续 ...

9月24日，欧晶科技涨5.25%，截至发稿，报27.48元/股，成交7008.91万元，换手率3.14%，总市值52.87 亿元。 资料显示，内蒙古欧晶科技股份有限公司位于内蒙古自治区呼和浩特市赛罕区阿木尔南街31号，成立日 期2011年4月22日，上市日期2022年9月30日，公司主营业务涉及公司立足于单晶硅材料产业链，主要为 太阳能级单晶硅棒硅片的生产和辅助材料资源回收循环利用，提供配套产品及服务，具体包括石英坩埚 产品、硅材料清洗服务、切削液处理服务。主营业务收入构成为：光伏配套加工服务67.70%，石英坩 埚29.54%，其他2.76%。 从欧晶科技十大流通股东角度 数据显示，汇添富基金旗下1只基金位居欧晶科技十大流通股东。汇添富中证环境治理指数(LOF)A （501030）二季度增持2.14万股，持有股数24.93万股，占流通股的比例为0.3%。根据测算，今日浮盈 赚取约34.15万元。 从基金十大重仓股角度 数据显示，汇添富基金旗下1只基金重仓欧晶科技。汇添富中证环境治理指数(LOF)A（501030）二季度 持有股数24.93万股，占基金净值比例为1.99%，位居第六大重仓股。根据测算，今日浮盈 ...

Core Viewpoint - Quartz Co., Ltd. has seen a significant stock price increase of 5.49% on September 24, reaching 42.26 CNY per share, with a total market capitalization of 22.891 billion CNY, indicating strong investor interest and performance in the market [1] Company Overview - Jiangsu Pacific Quartz Co., Ltd. was established on April 23, 1999, and listed on October 31, 2014. The company specializes in the research, production, and sales of high-purity quartz materials, including quartz sand, quartz tubes, and quartz crucibles, primarily used in the fields of light sources, photovoltaics, semiconductors, and optical fibers [1] - The revenue composition of the company is as follows: quartz tubes (82.56%), quartz sand (13.38%), other products (3.61%), and quartz crucibles (0.45%) [1] Shareholder Insights - Among the top ten circulating shareholders of Quartz Co., Ltd., Huatai-PB Fund holds a position, with its photovoltaic ETF (515790) reducing its holdings by 26,900 shares in the second quarter, now holding 3.1423 million shares, which is 0.58% of the circulating shares. The ETF has realized a floating profit of approximately 6.9131 million CNY today and 6.5988 million CNY during the five-day increase [2] - The photovoltaic ETF (515790) was established on December 7, 2020, with a current scale of 9.984 billion CNY. Year-to-date returns are 16.63%, ranking 2883 out of 4220 in its category, while the one-year return is 41.07%, ranking 2518 out of 3814 [2] Fund Manager Performance - The fund managers of the photovoltaic ETF (515790) are Li Qian and Li Mu Yang. Li Qian has a tenure of 5 years and 326 days, managing assets totaling 39.351 billion CNY, with the best fund return during her tenure being 100.06% and the worst being -18.35% [3] - Li Mu Yang has a tenure of 4 years and 263 days, managing assets of 21.273 billion CNY, with the best fund return of 124.22% and the worst return of -45.89% during his tenure [3]

Core Viewpoint - Quartz Co., Ltd. has shown a significant increase in stock price and trading volume, indicating strong market interest and potential growth opportunities in the non-metallic materials sector [1][2]. Company Overview - Quartz Co., Ltd. is located in Lianyungang City, Jiangsu Province, and was established on April 23, 1999. The company was listed on October 31, 2014. Its main business involves the research, production, and sales of high-purity quartz sand, quartz tubes (rods, plates, ingots, and cylinders), quartz crucibles, and other quartz materials, primarily used in light sources, photovoltaics, semiconductors, and optical fibers [1]. - The revenue composition of the company includes quartz tubes (rods) at 82.56%, quartz sand at 13.38%, other products at 3.61%, and quartz crucibles at 0.45% [1]. Financial Performance - As of June 30, 2025, Quartz Co., Ltd. reported a revenue of 515 million yuan, a year-on-year decrease of 30.13%. The net profit attributable to shareholders was 107 million yuan, down 58.41% year-on-year [2]. - The company has distributed a total of 3.374 billion yuan in dividends since its A-share listing, with 2.945 billion yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders for Quartz Co., Ltd. was 63,700, an increase of 10.64% from the previous period. The average number of circulating shares per shareholder was 8,509, a decrease of 9.61% [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited held 8.003 million shares, a decrease of 2.6924 million shares from the previous period. Southern CSI 500 ETF held 4.0076 million shares, an increase of 574,900 shares [3].

Core Viewpoint - The article provides a detailed analysis of the pricing trends for high-purity quartz sand and quartz crucibles in China, highlighting the price ranges, average prices, and fluctuations as of September 23, 2025, which can inform investment decisions in the materials sector [1][2][4]. Pricing Analysis of High-Purity Quartz Sand - Import quartz sand has a highest price of 8.75 million yuan per ton, a lowest price of 8 million yuan, and an average price of 8.375 million yuan, with no price fluctuation reported [1]. - Inner layer quartz sand is priced with a highest of 7 million yuan, a lowest of 5 million yuan, and an average of 6 million yuan, also showing no fluctuation [1]. - Middle layer quartz sand has a highest price of 3 million yuan, a lowest of 2.5 million yuan, and an average of 2.75 million yuan, with no price fluctuation [1]. - Outer layer quartz sand is priced at a highest of 2.2 million yuan, a lowest of 1.8 million yuan, and an average of 2 million yuan, with no fluctuation [1]. Pricing Analysis of Quartz Crucibles - The 28-inch quartz crucible has a highest price of 0.62 million yuan, a lowest price of 0.6 million yuan, and an average price of 0.61 million yuan, with no fluctuation [1]. - The 32-inch quartz crucible is priced at a highest of 0.7 million yuan, a lowest of 0.66 million yuan, and an average of 0.68 million yuan, also showing no fluctuation [1]. - The 36-inch quartz crucible has a highest price of 0.78 million yuan, a lowest of 0.74 million yuan, and an average of 0.76 million yuan, with no price fluctuation reported [1].

Core Viewpoint - The article provides a detailed analysis of the pricing trends for high-purity quartz sand and quartz crucibles in China, highlighting the current market prices and their fluctuations as of September 16, 2025. Pricing Analysis of High-Purity Quartz Sand - Import quartz sand has a highest price of 8.75 million yuan per ton, a lowest price of 8 million yuan, and an average price of 8.375 million yuan, with no price fluctuation reported [1]. - Inner layer quartz sand is priced at a maximum of 7 million yuan, a minimum of 5 million yuan, and an average of 6 million yuan, also showing no price fluctuation [1]. - Middle layer quartz sand has a highest price of 3 million yuan, a lowest price of 2.5 million yuan, and an average of 2.75 million yuan, with no price fluctuation [1]. - Outer layer quartz sand is priced at a maximum of 2.2 million yuan, a minimum of 1.8 million yuan, and an average of 2 million yuan, with no price fluctuation [1]. Pricing Analysis of Quartz Crucibles - The 28-inch quartz crucible has a highest price of 0.62 million yuan, a lowest price of 0.6 million yuan, and an average price of 0.61 million yuan, with no price fluctuation [1]. - The 32-inch quartz crucible is priced at a maximum of 0.7 million yuan, a minimum of 0.66 million yuan, and an average of 0.68 million yuan, also showing no price fluctuation [1]. - The 36-inch quartz crucible has a highest price of 0.78 million yuan, a lowest price of 0.74 million yuan, and an average of 0.76 million yuan, with no price fluctuation [1].

Summary of the Conference Call for Jing Sheng Mechanical & Electrical Co., Ltd. Company Overview - Jing Sheng Mechanical & Electrical Co., Ltd. specializes in the production of silicon carbide (SiC) substrates, with a focus on 8-12 inch core processes. The company has an annual production capacity of 300,000 pieces in Shangyu and is expanding to 600,000 pieces in Yinchuan, with plans to gradually transfer capacity to reduce costs. [2][3] Key Points and Arguments Industry and Market Dynamics - The SiC substrate market is primarily used in power applications (e.g., new energy vehicles, energy storage, data centers), optical applications, and advanced packaging. The market for power applications is estimated to be around 10 billion yuan. Demand for AI glasses could potentially double the demand for power applications. [2][7] - The advanced packaging market is also significant, with Jing Sheng poised to leverage its technology and cost advantages. [2][8] Competitive Advantages - Jing Sheng has a strong competitive edge in the SiC substrate sector due to its expertise in crystal growth technology and equipment manufacturing. The company has successfully produced 12-inch products, a feat achieved by only a few global players. [3][6] - A strategic partnership with Xreal has been established to supply 8-inch and future 12-inch SiC substrates for AI glasses validation and product design. [6] Semiconductor Equipment Business - The company has seen significant growth in new orders for semiconductor equipment, with reported orders exceeding 3 billion yuan. This includes not only manufacturing equipment but also subcontracting for equipment components. [2][10] Challenges in the Photovoltaic Industry - The photovoltaic (PV) industry is currently facing overcapacity and declining profitability, with many segments operating at a loss. Jing Sheng's PV equipment revenue constitutes about 80% of total revenue, but new orders are under pressure due to poor profitability in the silicon wafer sector. [4][11] - The company is promoting superconducting technology, although progress has been slow, and it faces minimal impairment pressure as major clients have already accounted for potential losses. [4][13] Product Insights - Jing Sheng's main PV materials include quartz crucibles and diamond wires. The price of quartz crucibles is at a low point, with the company expected to increase its market share from 40% this year to 60% next year. [4][13] - In the diamond wire segment, tungsten wire is gradually replacing carbon wire as the mainstream material, with the company focusing on self-research to reduce costs. [4][13] Future Outlook - The future application prospects for SiC are broad, particularly in power applications for new energy vehicles. The market for AR glasses and advanced packaging is expected to exceed current power application markets significantly. [9] - As a leading manufacturer of large-size SiC substrates, Jing Sheng's competitive advantages are expected to strengthen with increasing sizes and new applications. [9][10] Additional Important Information - The company is also developing smart factory-related equipment, with a significant portion of its revenue coming from intelligent equipment in the first half of the year. [13] - The overall outlook for Jing Sheng's PV equipment and materials business is positioned at the bottom of the cycle, with potential for performance recovery as the industry stabilizes. [13]

Group 1 - The core point of the article is that Sunshine Energy (00757.HK) announced a procurement framework agreement with Jinzhou Youxin for the purchase of quartz crucibles [1] Group 2 - The agreement was established between Liaoning Boxin Technology (as the buyer, an indirect non-wholly owned subsidiary of the company) and Jinzhou Youxin (as the supplier) [1] - The procurement is set to take place on September 10, 2025 [1]

Core Viewpoint - The article provides a detailed analysis of the pricing trends for high-purity quartz sand and quartz crucibles in China, indicating stable prices with minimal fluctuations across different categories [1][2]. Pricing Summary of High-Purity Quartz Sand - Import quartz sand has a highest price of 8.75 million yuan per ton, a lowest price of 8 million yuan, and an average price of 8.375 million yuan, showing a slight decrease of 0.1% [1]. - Inner layer quartz sand is priced at a maximum of 7 million yuan, a minimum of 5 million yuan, and an average of 6 million yuan, with no price fluctuation [1]. - Middle layer quartz sand has a highest price of 3 million yuan, a lowest price of 2.5 million yuan, and an average of 2.75 million yuan, also showing no price fluctuation [1]. - Outer layer quartz sand is priced at a maximum of 2.2 million yuan, a minimum of 1.8 million yuan, and an average of 2 million yuan, with no price fluctuation [1]. Pricing Summary of Quartz Crucibles - The 28-inch quartz crucible has a highest price of 0.62 million yuan, a lowest price of 0.6 million yuan, and an average price of 0.61 million yuan, with no price fluctuation [1]. - The 32-inch quartz crucible is priced at a maximum of 0.7 million yuan, a minimum of 0.66 million yuan, and an average of 0.68 million yuan, with no price fluctuation [1]. - The 36-inch quartz crucible has a highest price of 0.78 million yuan, a lowest price of 0.74 million yuan, and an average price of 0.76 million yuan, with no price fluctuation [1].

Core Viewpoint - The recent financial report of Oujing Technology (001269) indicates a significant decline in revenue and a negative net profit, highlighting challenges in the company's operational performance and financial health [1]. Financial Performance - Total revenue for the first half of 2025 was 239 million yuan, a decrease of 59.14% year-on-year [1]. - The net profit attributable to shareholders was -74.19 million yuan, an increase of 40.99% compared to the previous year [1]. - The gross margin was -2.71%, down 123.77% year-on-year, while the net margin was -31.1%, a decrease of 44.42% [1]. - The total of financial, sales, and management expenses reached 33.57 million yuan, accounting for 14.07% of total revenue, an increase of 167% year-on-year [1]. - Earnings per share were -0.39 yuan, an increase of 41% year-on-year [1]. Changes in Key Financial Metrics - Cash and cash equivalents decreased by 59.58% to 165 million yuan due to the redemption of financial products [3]. - Accounts receivable increased by 51.80% to 360 million yuan due to delayed collection of processing service payments [4]. - Construction in progress increased by 276.71% due to the addition of a semiconductor quartz crucible project [5]. - Contract liabilities decreased by 98.68% due to a reduction in customer prepayments [6]. - Long-term borrowings decreased by 55.27% as a result of repayment [7]. Revenue and Cost Analysis - Revenue decreased by 59.14% primarily due to falling sales prices of quartz crucibles and a decline in processing service volume and prices [8]. - Operating costs decreased by 52.65% due to reduced sales volume [9]. - Sales expenses decreased by 18.47% due to lower business promotion costs [9]. - Management expenses decreased by 13.46% due to reduced employee compensation [10]. - Financial expenses increased by 51.65% due to decreased interest income from deposits [11]. Cash Flow and Investment - Net cash flow from operating activities decreased by 130.21% due to reduced operating income [12]. - Net cash flow from investing activities increased by 140.14% due to a decrease in financial product purchases [12]. - Net cash flow from financing activities increased by 41.87% due to reduced cash outflows from profit distribution [12]. - The net increase in cash and cash equivalents was up by 122.67% due to reduced investment and financing cash outflows [12]. Industry Context - The company acknowledges the need to eliminate "involutionary" competition in the photovoltaic industry, aiming for high-quality development through technological innovation and advanced production capacity [14]. - The company believes that government guidance and industry self-regulation will enhance overall competitiveness and facilitate the elimination of outdated production capacity in the photovoltaic sector [14].