随着国家对科技创新和前沿技术的重视程度不断提升， 航空航天、新能源汽车、轨道交通、机器人、人工智能、风光氢、储能与电池（ 锂电池、钠电池、 固态 电池、超级电容器、燃料电池、太阳能电池 ） 等战略性产业加速崛起。作为承载国之重器的关键基础材料，高性能碳材料凭借其优异的综合性能，正 在成为推动产业升级的核心驱动力。 在能源与装备应用场景中，碳材料更是展现出了广阔的发展前景与市场潜力 。 为此，Catbontech 2025第九届国际碳材料大会暨产业展览会隆重举行，展会特设 能源与装备碳材料馆（N2馆） ，汇聚全球碳材料研发、生产及应用企 业，集中 展示碳材料在风光氢、空天、电池等高端领域的最新成果与应用 。 展品涵盖 石墨 （含 石油焦、沥青焦等原料 ） 、石墨烯、碳纳米管、硅碳、 硬碳、电容炭、多孔炭 、 碳纤维、预制体、复合材料、碳/碳（陶）复合材料等，同时还将展出系列碳材料产业链中的生产及加工设备、科学仪器和检测设 备。 围 1、 应用端： 汽车工业、航空航天（低空经济）、风电叶片、氢储运、回收领域用碳材料制品；锂离子电池、钠离子电池、超级电容器、储能系统、导电散 热、催化吸附领域； 2、材料端： 碳纤维 ...

Core Viewpoint - The article discusses the upcoming "2025 International Frontier New Materials Conference and the 5th China (Chongqing) Graphene Industry Development Summit Forum," aimed at promoting the high-quality development of Chongqing's new materials industry, particularly in supporting key sectors like automotive and electronics [2]. Event Overview - The conference is scheduled to take place from August 14 to 16, 2025, in Chongqing, with the theme "Intelligent New Materials, Driving Chongqing" [2]. - The event will adopt a "1+3+N" format, which includes one main conference, three specialized forums, and multiple special activities such as industry demand matching, product exhibitions, and academic posters [2]. Participants and Contributions - The conference will feature leaders from the Ministry of Industry and Information Technology and relevant government departments in Chongqing, as well as academicians and industry experts [2]. - Representatives from leading companies in new materials, new generation information technology, and new energy vehicles will participate, aiming to gather national innovation resources and build a platform for industry chain collaboration [2]. Agenda Highlights - The agenda includes a series of keynote speeches and specialized reports focusing on topics such as the preparation and application of new lightweight carbon-based composite materials, innovations in new materials based on additive manufacturing and artificial intelligence, and the development trends of humanoid robots and their material needs [4][5]. - Specific sessions will cover graphene applications in new energy vehicles and the research on carbon nanomaterials for high-performance applications [5][6]. Supporting Organizations - The event is organized by Chongqing Graphene Research Institute and Ningbo Detai Zhongyan Information Technology Co., Ltd., with support from various research institutes and innovation alliances [3].

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - Prices of acrylonitrile and caprolactam have rebounded, while refrigerants and silicon materials remain at high levels [5][29] - The low-altitude economy and robotics industry are expected to drive demand for lightweight and high-performance materials [5][25] - The semiconductor materials market is projected to grow significantly, with China's market expected to outpace global growth [18][21] Summary by Sections 1. Key Sub-industry and Product Tracking - Silicon materials and refrigerants maintain high prices, with acrylonitrile averaging 8200 CNY/ton (up 1.86%) and caprolactam at 8950 CNY/ton (up 3.77%) [9][10] - The average price of polyvinylidene fluoride is 55,000 CNY/ton (down 8.33%) [9][10] 2. Electronic Chemicals - The electronic chemicals sector is characterized by a wide variety of specialized products, with a focus on wet electronic chemicals, photoresists, and electronic gases [12][15] - The market is highly segmented with significant technical barriers, making it challenging for companies to master multiple fields [16] 3. New Quality Productivity - Carbon fiber and ultra-high molecular weight polyethylene (UHMWPE) are gaining attention due to their applications in low-altitude economy and robotics [25][30] - The demand for PEEK materials is increasing, particularly in humanoid robots, with a compound annual growth rate of 42.84% from 2012 to 2021 [31] 4. Lithium Battery/Storage Materials - Conductive agents like carbon black and carbon nanotubes are essential for lithium battery materials, with current prices for multi-wall carbon nanotube powder at 64,000 CNY/ton [34] - Sodium-ion battery materials are gaining traction due to their cost advantages and resource availability [36] 5. Photovoltaic/Wind Power Materials - EVA and POE are critical for photovoltaic applications, with current EVA prices at 10,460 CNY/ton [42][43] - The market for these materials is expected to stabilize after previous declines [42] 6. Bio-based Materials and Energy - Biodiesel prices have rebounded, with current market prices at 8,183 CNY/ton [46] - Sustainable aviation fuel (SAF) is projected to play a significant role in reducing carbon emissions in the aviation sector [44] 7. Renewable and Modified Plastics - The demand for recycled plastics is increasing, with a notable rise in the proportion of recycled materials used in packaging [48] - Special engineering plastics are gaining traction in various industries, including automotive and aerospace [48] 8. Coatings, Inks, and Pigments - The demand for new functional coating materials is growing due to the rise of wearable devices and smart home products [55] - The automotive sector is also driving demand for innovative coating solutions [55]

Group 1 - The core stock price of Daoshih Technology as of July 29, 2025, is 17.76 yuan, down 0.11% from the previous trading day, with a trading volume of 1.955 billion yuan [1] - The company operates in the new materials sector, focusing on the research and production of conductive materials such as carbon nanotubes and graphene [1] - Daoshih Technology has signed a strategic cooperation agreement with Suzhou Nengsida Electronic Technology and Guangdong Chipenson Technology to jointly develop key components for humanoid robots, including electronic muscles, electronic skin, and joints [1] - Under the agreement, Daoshih Technology will be responsible for the research and production of carbon materials, while Nengsida will handle material formulation applications, and Chipenson will provide computational support [1] - The company's half-year performance forecast for 2025 indicates a net profit attributable to shareholders expected to be between 220 million to 238 million yuan, representing a year-on-year growth of 98.77% to 115.03% [1] Group 2 - On July 29, the net outflow of main funds was 209 million yuan, accounting for 1.71% of the circulating market value [2]

Summary of TianNai Technology Conference Call Industry Overview - Solid-state battery technology primarily includes three routes: sulfide, oxide, and polymer. Sulfide systems have high ionic conductivity but are costly and pose safety risks. Oxide and polymer systems offer advantages in cost and mechanical performance, with domestic commercialization favoring oxide systems. [2][3][4] Key Points - **Market Forecast**: It is expected that all-solid-state batteries will achieve large-scale commercial application by 2030, with oxide and polymer processes likely becoming mainstream due to safety and cost factors in the next five years. Sulfide systems may face challenges. [2][4] - **Technological Advancements**: TianNai Technology enhances the electronic conductivity of liquid lithium-ion batteries using carbon nanotubes and is developing dry processing techniques and composite current collectors. These innovations are significant for the development of solid or semi-solid lithium-ion power systems. [2][3][5] - **Composite Current Collectors**: The introduction of carbon nanotubes as fiber reinforcements in polymer membranes significantly improves strength and conductivity, achieving electronic conduction levels comparable to pure metal current collectors. [6] - **Demand for Single-Walled Carbon Nanotubes**: The demand for single-walled carbon nanotubes is expected to increase significantly in 2026 due to the poor intrinsic electronic conductivity of high-nickel cathode materials and the need for more conductive additives in dry processing. [8] Financial and Operational Insights - **Production Facilities**: TianNai Technology's U.S. factory is expected to commence operations by the end of 2025, while the German factory will start in three months. The U.S. investment tax policy is anticipated to accelerate equipment production. [3][18] - **Collaborations**: The company collaborates with major battery firms like Panasonic and LG, with plans for significant orders from LG in the future, particularly for lithium iron phosphate batteries. [20] Challenges and Risks - **Safety and Cost Issues**: Solid-state battery technology faces challenges related to safety and cost, particularly with sulfide systems. The commercial viability of solid-state systems requires breakthroughs in key materials and processes. [10][16] - **Market Dynamics**: The introduction of porous copper foil and composite current collectors is limited by cost factors, which may hinder widespread adoption until prices become acceptable. [9] Future Outlook - **Growth Projections**: Significant growth in shipment volumes is expected in 2025 and 2026, particularly for high-end products driven by fast-charging technology. Current monthly production capacity is about four tons, with projections of 30,000 tons for single-walled and multi-walled carbon nanotubes by 2026. [22] - **New Cathode Materials**: Progress in new cathode materials is promising, with fast-charging certifications underway. These materials outperform existing products in low-temperature conditions. [23] Competitive Landscape - **Technological Edge**: TianNai Technology possesses a strong technological advantage in fast-charging technology and focuses on continuous R&D to maintain its competitive edge. [25][26] - **Talent Importance**: The company emphasizes the significance of talent in driving technological advancements and achieving a leading position in the industry. [27]

Core Viewpoint - Guangdong Lair Technology Co., Ltd. is undergoing a share transfer where its controlling shareholder, Guangdong Tenail Investment Co., Ltd., will transfer 7,759,000 shares (5.00% of total shares) to Guangdong Shiyun Circuit Technology Co., Ltd. at a price of 19.74 yuan per share, totaling 153,162,660 yuan. This transfer does not involve a change in control or significant impact on the company's governance structure [1][2][3]. Summary by Sections Agreement Transfer Overview - The share transfer involves Guangdong Tenail Investment Co., Ltd. selling 7,759,000 shares to Guangdong Shiyun Circuit Technology Co., Ltd. at a price of 19.74 yuan per share, amounting to 153,162,660 yuan [2][3]. - Before the transfer, Tenail held 80,000,000 shares (51.55% of total shares), and after the transfer, it will hold 72,241,000 shares (46.55%) [1][2]. - Shiyun Circuit will hold 7,759,000 shares (5.00%) post-transfer, having held none prior [1][2]. Background and Purpose of the Transfer - Shiyun Circuit is a listed company on the Shanghai Stock Exchange, focusing on printed circuit boards (PCBs) and has expanded into high-growth sectors such as new energy vehicles and AI [2][3]. - The transfer aims to establish Shiyun Circuit as a strategic investor and long-term partner for Lair Technology, facilitating collaboration in automotive electronics, new energy batteries, and emerging fields like AI and robotics [3][4]. Strategic Cooperation Framework - The partnership will focus on joint research and development, optimizing product offerings in areas like "film + FFC + PCB" solutions, enhancing customer engagement and product performance [3][14]. - Both companies will leverage their customer resources in automotive electronics and new energy sectors to expand market coverage and enhance competitiveness [6][14]. - The collaboration will also explore supply chain synergies, aiming to improve procurement efficiency and stability [7][15]. Future Collaboration and Market Expansion - The strategic relationship is expected to drive joint market development, particularly in high-growth areas such as AI servers and low-altitude flying vehicles [6][14]. - Both companies will work together to identify potential acquisition opportunities in high-growth sectors, enhancing their market positions and long-term value [8][15]. Compliance and Approval Process - The share transfer is subject to compliance confirmation by the Shanghai Stock Exchange and registration with the China Securities Depository and Clearing Corporation [2][3].

Core Viewpoint - The company intends to acquire 7,759,000 shares of Guangdong Lair Technology Co., Ltd., representing 5.00% of its total share capital, at a price of 19.74 yuan per share, totaling 153,162,660 yuan, to enhance strategic cooperation in various high-tech fields [1][2][3] Transaction Overview - The transaction involves the acquisition of shares from Guangdong Tenair Investment Co., Ltd. to promote strategic collaboration in automotive electronics, new energy batteries, low-altitude flight, humanoid robots, and AI servers [2][3] - The shares will be acquired at a price of 19.74 yuan per share, based on the closing price on the trading day prior to the agreement [4][12] - The funding for the acquisition will come from the company's own funds [4][12] Purpose and Reason for the Transaction - The acquisition aims to establish a strategic partnership with Lair Technology, facilitating resource integration and enhancing competitiveness in emerging fields [3][11] - The collaboration is expected to improve shareholder returns and expand market reach, particularly in the domestic market for automotive and electronic products [3][11] Nature of the Transaction - The transaction is classified as a related party transaction due to the involvement of a related party, De Xin Venture Capital Co., Ltd., which holds a minor stake in Lair Technology [2][3] - The transaction does not constitute a major asset restructuring as defined by relevant regulations [2][3] Financial Performance of Lair Technology - Lair Technology reported a revenue of 526 million yuan for the year 2024, a year-on-year increase of 19.95%, and a net profit of 37 million yuan, up 27.69% [11] - For the first quarter of 2025, the company achieved a revenue of 165 million yuan, representing a 65.94% year-on-year growth, with a net profit of 11 million yuan, up 27.87% [11][10] Strategic Cooperation Framework - The strategic cooperation will focus on joint research and development, leveraging each company's strengths in technology and market channels to create a global collaborative sales system [16][17] - The partnership aims to explore supply chain collaboration and joint investment opportunities in various high-tech sectors [16][17]

Core Viewpoint - The strategic partnership between Shiyun Circuit and Lair Technology aims to enhance competitiveness through resource integration and collaboration in various high-tech fields, including automotive electronics and new energy sectors [1][2][3] Group 1: Investment Details - Shiyun Circuit acquired a 5% stake in Lair Technology by purchasing 7.759 million shares at a price of 19.74 yuan per share, totaling 153 million yuan [1] - The transaction price represents a discount of approximately 20% compared to Lair Technology's closing price of 25.19 yuan per share [1] Group 2: Strategic Cooperation - The partnership focuses on five key areas: technological innovation and joint research, resource sharing and collaborative development, global sales network construction and channel sharing, supply chain optimization, and strategic investment layout [2] - Both companies aim to leverage their respective strengths to create a global collaborative sales system, particularly in the fields of automotive electronics and new energy batteries [2] Group 3: Future Prospects - Shiyun Circuit views this transaction as a strategic move to enhance shareholder returns through synergistic effects [3] - Lair Technology aims to leverage Shiyun Circuit's status as a strategic investor to gain a competitive edge in industry upgrades, promoting the idea that their collaboration will yield greater benefits than the sum of their individual efforts [3]

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]

Group 1: Macro Overview - The manufacturing PMI in China for May rose slightly to 49.5, indicating signs of stabilization despite remaining in the contraction zone [2][13] - The easing of temporary tariffs between China and the US has led to a rebound in some foreign trade orders, supported by the central bank's continued liquidity injections [2][13] - The overall manufacturing sector in China is showing signs of recovery under policy support, but external uncertainties remain, necessitating ongoing attention to the evolution of China-US trade policies and their potential global economic impacts [2][13] Group 2: Domestic Demand and Supply - Domestic consumption remains stable, with passenger car retail sales showing a year-on-year increase of 16.9% in May [3] - External demand indicators, such as the Baltic Dry Index, continue to decline, reflecting a drop of 29.0% year-on-year [3] - Industrial production showed significant improvement in May, with various sectors experiencing increases in operating rates, although the real estate and infrastructure sectors remain subdued [4] Group 3: Price Trends - The CPI shows a downward trend in pork prices, while fruit and vegetable prices fluctuate [5] - The PPI indicates a general decline in prices for black commodities, with significant drops in coal and steel prices [5] - The low price indices reflect an oversupply situation and unstable long-term demand expectations, impacting commodity price recovery [15] Group 4: Investment and Policy Outlook - The government has accelerated the issuance of special bonds, with the progress reaching 48.9% as of May 31 [7] - The central bank's liquidity support remains robust, with expectations for new policy financial tools to be implemented in the second quarter [8] - The investment strategy for June focuses on three main lines: consumption, technology, and dividends, with an emphasis on value stocks in these sectors [19][21] Group 5: Company-Specific Insights - Jebon Technology, established in 2007, focuses on precision components for consumer electronics, with a significant revenue contribution from precision functional and structural parts [28] - The company is expanding into the VC cooling sector and new materials, including carbon nanotubes, which are expected to drive future growth [29] - The global demand for carbon nanotubes is projected to reach 224 billion yuan by 2025, positioning Jebon Technology favorably in the market [29]