Group 1 - The core viewpoint of the article is that the Longshan project by Chenguang New Materials is currently in the comprehensive construction phase, with an annual production capacity of 210,000 tons of silicon-based new materials and 5,000 tons of cobalt-based new materials [1] Group 2 - The company has indicated that for further details regarding the project's progress, investors should refer to the announcements disclosed by the company [1]

当前，大国博弈日趋激烈，地缘政治冲突多发频发，单边主义、保护主义逆流涌动，对国际经贸秩序造成严重冲击。特别是新一轮科技革命和产业变 革迅猛发展，世界主要国家都在抢占科技创新制高点，全球创新版图加快重构，国际分工体系和全球价值链面临重塑。 新材料产品产能不断上升，然而增产增收不增利，成为常态，行业进入快速发展期的当下： 未来最大的风口是什么？ 谁才是未来新材料的 " 超级印钞机 " 我们到底需要什么样的先进材料？ 我们和世界先进水平究竟存在多大的差距？ ······ 9月10-12日 于 合肥 召开的 2025高分子产业年会 特别邀请到 中国石化联合会顾问、中国石油化工国际产能合作研究院副院长 杨向宏 出席会议，并 以 "全球化工新材料热点发展趋势" 为题，进行主题报告。 他拥有43年的化工和新材料行业生产、营销、研发和企业运营经验；同时还拥有丰富的行业分析和咨询经验，在化工和新材料领域积累了丰富的生 产、建设、信息和咨询经验,曾参与多个大型工厂建设（在外企工作期间曾参与九间工厂建设），并曾领导多个研究和咨询项目，服务客户包括多家中 外世界500强企业如埃克森美孚，壳牌，Dow、沙索、SK能源、中石化，中海油、 ...

Summary of Key Points Core Viewpoint - The company intends to continue using part of its idle raised funds for cash management, ensuring that this does not affect the ongoing investment projects or the company's main business operations [1][8]. Fundraising Basic Information - The company raised a total of RMB 605.36 million by issuing 46 million shares at a price of RMB 13.16 per share, with a net amount of RMB 560.13 million after deducting issuance costs [1][2]. Investment Project and Fund Usage - The total planned investment for the projects is RMB 801.70 million, with the raised funds allocated for two main projects: a 65,000-ton organic silicon material capacity expansion project and a functional silane development center [2][3]. - The company has made changes to its investment projects, reallocating unused funds from the functional silane project to a new project for producing 23,000 tons of special organic silicon materials [2][3]. Previous Cash Management - The company previously approved the use of up to RMB 300 million of idle funds for cash management, with RMB 250 million currently invested in cash management products [4][5]. Current Cash Management Plan - The company plans to use up to RMB 250 million of idle funds for cash management, focusing on high-security, high-liquidity investment products with principal protection [6][8]. - The cash management will be valid for up to 12 months after the previous authorization expires, allowing for rolling use within the approved limit [6][8]. Impact on Company Operations - The cash management initiative is designed to enhance the efficiency of fund usage without impacting the normal operation of investment projects or the main business, ultimately aiming to increase returns for shareholders [8][9]. Approval Process - The board of directors and the supervisory board have both approved the cash management plan, confirming that it complies with relevant regulations and does not alter the intended use of the raised funds [9][10].

Group 1: Steel Industry - In July, the PMI for new export orders was reported at 47.10% [4] - The BCI for small and medium enterprises financing environment index in July 2025 was 46.09, a month-on-month decrease of 6.16% [4] - The M1 and M2 growth rate difference in June 2025 was -3.7 percentage points, with a month-on-month increase of 1.9 percentage points [4] Group 2: Non-ferrous Metals - In July, the operating rate of cable enterprises reached a six-year low compared to the same period last year [4] - The copper price is expected to fluctuate in the short term due to lower domestic cable operating rates and a decrease in air conditioning production from August to October [4] - However, tight supply from mines and scrap copper, along with a rebound in demand for power grids and air conditioning in Q4, may lead to an increase in copper prices [4] Group 3: Renewable Energy and Environmental Protection - The political bureau meeting emphasized the importance of promoting a unified national market and optimizing market competition [4] - The "anti-involution" policy is expected to continue, impacting the stock prices of photovoltaic-related companies [4] - Key areas to watch include price-sensitive segments such as silicon materials, glass, and BC batteries [4] Group 4: Pharmaceutical and Biotechnology - The public health emergency response level III was activated in Foshan due to the outbreak of Chikungunya fever, with over 6,000 confirmed cases reported by July 31 [5] Group 5: Company-Specific Developments - New An Co., Ltd. has established a new subsidiary focused on synthetic materials, indicating a strengthened global development strategy [6] - China Shenhua announced plans to acquire assets from the State Energy Group, including coal and related energy assets [6] - TAL Education Group reported a revenue of $575 million for FY26Q1, a year-on-year increase of 38.8%, with net profit significantly exceeding expectations [6]

Core Viewpoint - The company announced the design capacity of its "Annual Production of 23,000 Tons of Special Organic Silicon Materials Project," specifically for aerogels, is set at 2,000 tons per year, and it has entered formal production phase [1] Group 1: Project Developments - The wholly-owned subsidiary Anhui Chenguang New Materials Co., Ltd. is in the comprehensive construction phase of its "Annual Production of 300,000 Tons of Functional Silanes Project" [1] - The wholly-owned subsidiary Ningxia Chenguang New Materials Co., Ltd. has reached trial production conditions for the first phase of its "Annual Production of 300,000 Tons of Silicon-based and Aerogel New Materials Project," which is expected to continue with the second phase construction and third phase planning in 2025 [1]

Core Viewpoint - Hubei Jianghan New Materials Co., Ltd. has completed the fundraising process for its initial public offering (IPO) and is making changes to its fundraising investment projects and office address [1][2][3]. Group 1: Fundraising and Financial Details - The company was approved to publicly issue 66,666,667 shares at a price of RMB 35.59 per share, raising a total of RMB 2,372,666,678.53, which was fully received by January 19, 2023 [1]. - The funds have been deposited into a special account approved by the board, and a tripartite supervision agreement has been signed with the sponsor and the bank [1]. - The total planned investment for the "Annual Production of 2000 Tons of Aerogel Composite Materials Industrialization Construction Project" was RMB 246,778.01 million, with RMB 205,926.71 million allocated [2]. Group 2: Changes in Investment Projects - The project "Annual Production of 2000 Tons of Aerogel Composite Materials Industrialization Construction Project" has been changed to "Silicon-based New Materials Green Circular Industrial Park Phase I," with remaining funds of RMB 15,193.59 million and accumulated interest to be fully invested in the new project [2]. - The project "Annual Production of 2000 Tons of High-purity Quartz Sand Industrialization Construction Project" has been changed to "Functional New Materials Silicon-based Precursor Project (Phase I)," with remaining funds of RMB 35,038.77 million to be fully invested in the new project [3]. - The new project will be implemented by the wholly-owned subsidiary Hubei Jianghan Electronic Materials Co., Ltd., with RMB 100 million allocated as equity and the remaining funds provided as a loan [3]. Group 3: Project Completion and Office Relocation - The "Research Center and Office Center Construction Project" has reached the predetermined usable state and is set for completion [4]. - The office address has been changed from "36 Qunli Avenue, Shashi Economic Development Zone, Jingzhou City, Hubei Province" to "259 Dongfang Avenue, Shashi District, Jingzhou City, Hubei Province" [5].

Core Insights - The establishment of the advanced manufacturing development zone in Xiangcheng County, focusing on "cutting-edge new materials," marks a significant step in seizing opportunities in the new materials industry and building a modern industrial system [1] Group 1: Development Plans and Goals - In 2017, the Henan provincial government initiated plans to develop the silicon-carbon advanced materials industry cluster in Xiangcheng County, aiming for a trillion-level industry cluster by 2023 [2] - The development plan for the trillion-level silicon-carbon new materials industrial park has been high-standard compiled and approved by experts, indicating a structured approach to industrial growth [2] - The development zone aims to achieve an annual revenue of 36.22 billion yuan by 2024 [3] Group 2: Industry Strengths and Resources - Xiangcheng County has abundant coal resources, with reserves reaching 2.05 billion tons, supporting the development of a coal chemical industry [4] - The industrial chain is becoming increasingly complete, with major projects in hydrogen production, methanol, and other chemical products, leading to the emergence of high-purity silicon and carbon material industries [4] - The area has gathered 198 enterprises, including 81 above-scale industrial companies, forming a robust industrial ecosystem [4] Group 3: Strategic Actions - The county plans to implement three major actions: chain enhancement to attract leading global new materials companies, green manufacturing initiatives to create a "zero-carbon industrial park," and regional collaboration to build a new materials supply chain hub in Central China [5] - The focus will be on high-end new materials, including silicon-based, carbon-based, and renewable energy materials, with a goal to achieve a trillion-level characteristic silicon-carbon new materials industrial park [5] - By 2030, the advanced manufacturing development zone aims to reach a production scale of one trillion yuan and achieve international advanced levels in coal-based chemical new materials [5]

Core Insights - The conference highlighted that fine chemicals are not only the core driving force for high-quality development in the petrochemical industry but also a strategic support for industrial upgrading and the cultivation of new productive forces [1] Industry Structure - Fine chemicals refer to fine chemical products and new chemical materials, contrasting with basic chemicals, as defined in the "Implementation Plan for the Innovation and Development of the Fine Chemical Industry (2024-2027)" [2] - China's annual production capacity for fine chemicals is nearing 200 million tons, with a supply guarantee rate of 90% [2] - The industry has a strong global competitive position, with market shares of 75% in pesticides, 70% in rubber additives, and 60% in food organic acids and feed vitamins [2] - Structural contradictions exist, with self-sufficiency rates exceeding 130% for food additives and traditional pesticides, while rates for products like photoresists and specialty gases are below 20% [2] Technological Innovation - There is a significant gap between the performance of fine chemicals and downstream expectations, with 99% of fine chemicals producible but lacking stability and quality compared to international standards [3] - Continuous R&D innovation is essential for industry transformation, as exemplified by Shin-Etsu Chemical's evolution from a fertilizer plant to a leading global player in PVC and semiconductor silicon materials [3] - Market-driven technological advancements are crucial, with adhesives evolving from auxiliary materials to functional solutions in various industries [3] Innovation Trends - High-performance fibers, such as PBO fibers, are emerging as key materials, with a single 1mm diameter PBO fiber capable of lifting 450 kg [4] - Silicon carbide fibers are gaining attention for their high-temperature resistance and applications in various industrial sectors [4] - New high-performance materials, including ethylene-acrylic copolymers and carbon nanotubes, are showing promise in multiple applications due to their superior properties [5] - Silicon-based new materials are expected to disrupt the coatings and adhesives industries, with modified silicone resins capable of withstanding extreme temperatures [5]

湖北江瀚新材料股份有限公司 Hubei Jianghan New Materials Co.,Ltd. 首次公开发行A股股票招股说明书摘要 保荐机构（主承销商） 1 （湖北省荆州市沙市经济开发区群力大道36号） 广东省深圳市福田区中心三路 8 号卓越时代广场（二期）北座 湖北江瀚新材料股份有限公司 招股说明书摘要 本次发行概况 | 发行股票类型 | 人民币普通股（A 股） | | | | | --- | --- | --- | --- | --- | | 发行股数 | 6,666.6667 | | 万股 | | | 每股面值 | 人民币 1.00 | | 元 | | | 每股发行价格 | 35.59 | 元 | | | | 发行日期 | 年 月 2023 | 1 | 13 | 日 | | 拟上市的证券交易所 | 上海证券交易所 | | | | | 发行后总股本 | 26,666.6667 | | 万股 | | 一、发行数量及发行主体 本次由公司公开发行人民币普通股 6,666.6667 万股，公司股东不公开发售股 份，公开发行股票的总量占公司发行后总股本的比例为 25%。 公司本次公开发行股票所募集资金全部用 ...

湖北江瀚新材料股份有限公司 Hubei Jianghan New Materials Co.,Ltd. （湖北省荆州市沙市经济开发区群力大道36号） 首次公开发行A股股票招股意向书 摘要 保荐机构（主承销商） 广东省深圳市福田区中心三路 8 号卓越时代广场（二期）北座 1 湖北江瀚新材料股份有限公司 招股意向书摘要 本次发行概况 | 发行股票类型 | 人民币普通股（A 股） | | | | --- | --- | --- | --- | | 拟发行股数 | 6,666.6667 | | 万股 | | 每股面值 | 人民币 1.00 | | 元 | | 每股发行价格 | 【●】元 | | | | 预计发行日期 | 2023 年 月 日 | 1 | 13 | | 拟上市的证券交易所 | 上海证券交易所 | | | | 发行后总股本 | 26,666.6667 | | 万股 | 一、发行数量及发行主体 本次拟由公司公开发行人民币普通股 6,666.6667 万股，公司股东不公开发售 股份，公开发行股票的总量占公司发行后总股本的比例为 25%。 公司本次公开发行股票所募集资金全部用于与公司主营业务相关的投资项 目和补 ...