清融科技产品（功能复合薄膜、高频覆铜板及薄膜电容器等）（图源/企业） 作者 | 林晴晴 编辑 | 袁斯来 硬氪获悉，功能复合薄膜材料研发商「清融科技」近日完成数千万元天使轮融资，由中科创星领投，常见投资、江阴市人才科创天使基金、水木清华校友 种子基金跟投。本轮融资将用于产线扩建、核心设备研发及高频通信、新能源领域、AI服务器市场拓展。 「清融科技」成立于2024年9月，由清华大学材料科学团队创立，专注于高频高速覆铜板、高温高储能电容器薄膜等功能复合薄膜材料的研发与生产。公 司瞄准5G通信、新能源汽车、AI服务器及毫米波雷达等场景，致力于打破美国罗杰斯（Rogers）等企业在高端材料市场的垄断。目前，其高频覆铜板介 电损耗低至0.001以下，性能对标国际顶尖产品，且具有高批次稳定性和成本优势；电容器薄膜储能密度达5J/cm³，耐温能力提升至150℃，器件体积较传 统产品缩小30%-50%。 功能复合薄膜的开发与应用（图源/企业） 行业挑战集中在工艺复杂性与客户替代意愿。江建勇坦言："部分客户对国产材料仍持观望态度，但高频通信、自动驾驶的爆发倒逼供应链降本，我们的 定制化服务和技术响应速度是差异化优势。"下一步， ...

公司技术来源于清华大学材料学院南策文院士与沈洋教授团队，核心成员在复合电介质薄膜领域深耕20余年，具备从 材料体系构建、界面调控到设备自研的全链条能力，团队由来自清华大学等知名高校的博士硕士构成，拥有深厚的理 论基础与丰富的工程经验。 通过独创的多尺度结构调控与连续化成型技术，清融科技突破国外PTFE覆铜板的技术封锁，率先实现非玻纤布PTFE 基高频覆铜板的量产，显著改善介电一致性与可加工性，产品介电损耗低至万分级，已面向毫米波雷达、天地通信、 相控阵天线等高端领域展开市场拓展。 投资界12月25日消息，近日，功能复合电介质薄膜材料企业清融新材料科技（嘉兴）有限公司（以下称"清融科技"） 宣布完成数千万元天使轮融资，由中科创星领投，常见投资、江阴市人才科创天使基金、水木清华校友种子基金跟 投。本轮融资将用于产线扩建、核心设备研发及高频通信、新能源领域、AI服务器等市场拓展。 清融科技成立于2024年9月，致力于高性能功能复合薄膜材料的研发与产业化。公司聚焦高储能电容器薄膜和高频覆 铜板两大核心方向，致力于推动高端复合电介质材料在智能电网、新能源汽车、毫米波通信、先进国防装备等领域的 国产应用。 清融科技产品（ ...

证券代码：603989 证券简称：艾华集团 公告编号：2025-055 二、交易进展情况 （一）协议签署情况 截止本公告披露日，本次交易事项涉及的《股权转让协议》已正式签署完毕。 （二）工商变更登记情况 湖南艾华集团股份有限公司 关于收购艾华新动力电容(苏州)有限公司100%股权的进展暨完成工商变更登记的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 一、交易概述 湖南艾华集团股份有限公司（以下简称"公司"）于2025年11月28日召开第六届董事会第八次会议，审议 通过了《关于收购艾华新动力电容(苏州)有限公司100%股权暨关联交易及接受控股股东关联财务资助的 议案》，同意公司以人民币2,035.60万元收购控股股东湖南艾华控股有限公司（以下简称"艾华控股"） 下属的艾华新动力电容(苏州)有限公司（以下简称"艾华新动力"）100%股权，并签署《股权转让协 议》，本次收购资金来源全部为公司自有资金。 具体内容详见公司2025年12月2日在《证券时报》《中国证券报》《上海证券报》《证券日报》和上海 证券交易所网站（http: ...

交易所数据显示，可控核聚变（886065）指数19日高开。 消息面上，12月18日，特朗普媒体与科技集团与核聚变能源企业TAE科技达成合并协议，交易估值超过 60亿美元。该交易为全股票交易，预计在2026年年中完成。根据公司公告，合并旨在整合前者的资本渠 道与后者的聚变技术，为人工智能发展提供能源支持。合并后的公司计划于2026年开始建设全球首座公 用事业规模的聚变发电厂。TAE是一家成立于1998年的私营科技公司，已建成并运营5座核聚变反应 堆。 受全球产业加速趋势及国内重大工程设备采购进入高峰期的推动，可控核聚变行业近期利好频现。根据 华源证券数据，2025年第四季度以来，仅合肥BEST项目的招标规模就达到约26.2亿元，较前期数据明 显放量。同时，中信证券年初发布的研报预计，2030至2035年间，全球核聚变装置市场规模有望达到 2.26万亿元。 核心部件与材料板块 可控核聚变装置涉及大量高精尖的核心部件与特种材料。磁体电源系统、真空室、第一壁、偏滤器等关 键部件的性能直接决定了装置的稳定运行能力。随着国内外多个聚变项目进入工程化建设阶段，对高性 能超导材料、特种合金、耐高温材料以及精密制造部件的需求将 ...

证券日报网讯12月16日，法拉电子（600563）在互动平台回答投资者提问时表示，公司薄膜电容器广泛 应用于家电、照明、通讯、智能电网、轨道交通、工业控制和新能源(光伏、储能、风电、新能源汽车) 等多个应用领域。 ...

Group 1 - The core viewpoint of the articles highlights the acceleration of fusion energy industrialization, driven by policy support and international collaboration, indicating a shift from laboratory research to engineering applications [1] - The National Energy Administration has included "controllable nuclear fusion intelligent control" as a key scenario in the "AI + Energy" pilot projects, showcasing governmental backing for the industry [1] - Major national scientific facilities like BEST and CFETR are entering a peak phase of equipment procurement, signaling significant progress in the engineering and industrialization of fusion energy [1] Group 2 - The recent bid won by Ningbo Xinrong Electric Technology Co., Ltd., a subsidiary of Wangzi New Materials, for the procurement of a magnetic power storage system for fusion energy, amounts to 79.8 million yuan, representing 17.73% of the company's projected revenue for 2024 [2] - The bidding entity, Fusion Energy (Anhui) Co., Ltd., is a key player in China's fusion energy research, supported by the Hefei Comprehensive National Science Center, which focuses on cutting-edge fields like energy and artificial intelligence [2] - The magnetic power storage system is critical for providing stable and precise energy pulses to superconducting magnets, essential for maintaining high-temperature plasma, thus directly impacting the success of fusion experiments [2] Group 3 - The power supply for fusion devices requires highly customized development, integrating advanced technologies across multiple disciplines, which creates significant barriers to entry [3] - Ningbo Xinrong's success in the competitive bidding process reflects its deep technical expertise in film capacitors, indicating its capability to meet the stringent requirements of national scientific projects [3] - The ongoing development of major projects like the China Fusion Engineering Test Reactor (CFETR) positions the company to leverage its enhanced technical advantages and industry reputation for future opportunities in the fusion sector [3] Group 4 - The significance of the recent bid extends beyond the immediate order, validating Ningbo Xinrong's technical strength in high-voltage and high-current applications, and opening new growth pathways for Wangzi New Materials [4] - The power supply technologies developed for fusion applications share high performance and reliability requirements with sectors like semiconductor equipment and high-end manufacturing, indicating potential for cross-industry expansion [4] - Wangzi New Materials is undergoing a transformation from traditional packaging materials to high-end capacitors and now to participation in major national energy projects, suggesting a need for reevaluation of its long-term value [4]

*风险提示：股市有风险，入市需谨慎 索通发展：公司是全球最大的商用预焙阳极供应商，截至2025年7月，公司预焙阳极在产产能346万吨， 计划2025年末预焙阳极签约产能达到约500万吨，负极产能8万吨，煅后焦130万吨，薄膜电容器超20亿 只生产规模。 天山铝业：公司拥有预焙阳极年产能60万吨，可以满足现有电解铝产能全部阳极碳素的需求。 *免责声明：文章内容仅供参考，不构成投资建议 据百川盈孚数据，12月3日预焙阳极市场均价5638元/吨，较上一日大涨5.82%，并实现三连涨。今年下 半年以来，预焙阳极市场价格呈现阶梯式攀升走势，7月至今累计涨幅已超过15%。 证券时报表示，近期石油焦价格高位整理，最新市场均价为3115元/吨，部分负极焦价格继续上行。原 料煤焦油预计仍坚挺走势，短期波动不大，煤沥青市场偏稳整理。综合来看，原料成本仍旧维持高位水 平，对预焙阳极价格偏好氛围。下游需求方面，电解铝价格持续走高，开工产能稳中小增，开工产能达 4414万吨，对预焙阳极需求旺盛。近期新疆地区电解铝企业将继续释放新投产产能，预计行业理论开工 产能呈增加态势，对预焙阳极需求或有增量。成本高位叠加需求持续旺盛，预焙阳极价格或 ...

Core Viewpoint - The company has approved the dissolution and liquidation of its subsidiary, Yiyang Aihua Fuxian Electronics Co., Ltd., due to the expiration of its business term and lack of further operational plans. Additionally, the company plans to acquire 100% of the shares of Aihua New Power Capacitor (Suzhou) Co., Ltd. from its controlling shareholder, Aihua Holdings, to enhance its business structure and competitiveness in the capacitor industry [5][12][61]. Group 1: Board Meeting and Decisions - The sixth board meeting of the company was held on November 28, 2025, with all directors present, and all resolutions were passed without opposition [2][3][4]. - The board approved the dissolution and liquidation of its subsidiary, Yiyang Aihua Fuxian Electronics Co., Ltd., which has a registered capital of 90 million RMB and is 96.67% owned by the company [5][61][62]. Group 2: Acquisition of Aihua New Power Capacitor - The company will acquire 100% of Aihua New Power Capacitor (Suzhou) Co., Ltd. for 20.356 million RMB, funded entirely by the company's own resources [6][12][15]. - Aihua Holdings has provided loans to Aihua New Power totaling approximately 38.53 million RMB, which will remain unchanged post-acquisition, and interest will not be calculated from the day after the board's approval [7][12][15]. - Aihua Holdings commits that Aihua New Power will achieve a cumulative net profit of no less than 5.8448 million RMB from 2025 to 2027, with compensation obligations if this target is not met [12][55]. Group 3: Financial and Operational Impact - The acquisition is expected to enhance the company's competitiveness by integrating resources and optimizing production capabilities, thereby reducing costs and improving quality [41][42][43]. - The transaction will not lead to management changes or affect the company's operational structure significantly, and it is anticipated to reduce the amount of related party transactions post-acquisition [45][46]. - The financial assistance from Aihua Holdings is a continuation of existing loans and will not result in direct cash outflows for the company, potentially improving its financial condition [44][51]. Group 4: Regulatory and Compliance - The acquisition and related financial assistance have been reviewed and approved by the company's audit committee and independent directors, ensuring compliance with relevant laws and regulations [49][50][52]. - The transaction does not constitute a major asset restructuring as defined by regulatory standards, and it does not require shareholder approval [61][63].

Summary of the Conference Call for Suotong Development Company Overview - Suotong Development has become the largest commercial prebaked anode supplier globally, with a production capacity of 3.46 million tons as of July 2025, targeting a signed capacity of 5 million tons by the end of the year [2][3] - The company is also expanding its anode materials business, currently with a capacity of approximately 80,000 tons, and has a production scale of over 2 billion film capacitors [2][3] Financial Performance - From 2020 to 2024, Suotong's revenue increased from 5.9 billion to 13.7 billion yuan, with a compound annual growth rate (CAGR) of 23.8% [2][6] - Net profit attributable to shareholders rose from 210 million to 270 million yuan during the same period, with a CAGR of 6.2% [2][6] - In the first three quarters of 2025, net profit surged by 202% year-on-year to 650 million yuan, with the prebaked anode business accounting for 90.75% of total revenue [2][6] Cost Control and Competitive Advantage - The company has implemented a petroleum coke blending system to reduce costs, achieving a unit cost of approximately 3,573 yuan per ton, which is 816 yuan lower than the industry average [2][7] - This system is planned to be rolled out across all production bases to further enhance cost advantages [7] Anode and Capacitor Business Development - The anode production capacity is set to reach 80,000 tons in 2025, with a year-on-year increase of 85% in the first half of the year [2][8] - Film capacitor production is also growing steadily, with a target of 1.8 billion units for the year [8] Solid Waste Lithium Extraction Technology - The company operates a solid waste lithium extraction demonstration line that processes 1,000 tons of aluminum slag annually, enhancing resource utilization and improving collaboration stability with downstream customers [4][9][12] Future Projects and Capacity Expansion - Planned projects include a 600,000-ton prebaked anode facility in Guangxi, a 320,000-ton facility in Jiangsu, and a joint project with EGA in the UAE [4][10][11] - By 2028, total prebaked anode capacity is expected to reach 4.98 million tons, with equity capacity of 3.49 million tons [11] Industry Challenges and Market Dynamics - The prebaked anode industry faces overall oversupply and regional differentiation, with a current effective capacity of 27.46 million tons against a demand of 21.5 million tons, resulting in a 28% oversupply rate [14] - The industry is shifting towards commercial prebaked anodes, with Suotong holding over 1/3 of the market share [15] International Market Importance - As domestic demand for electrolytic aluminum slows, overseas markets are becoming crucial, with projected overseas demand growth of 572,000 tons from 2025 to 2027 [16] - Suotong is actively expanding its international presence, with exports increasing from 1.13 million tons in 2019 to 2.17 million tons in 2024, and a 9% year-on-year growth in the first half of this year [16][17] Future Profitability Forecast - Revenue projections for 2025 to 2027 are 17.6 billion, 19.8 billion, and 20.9 billion yuan, with net profits of 1.1 billion, 1.2 billion, and 1.6 billion yuan respectively [20] - The company is expected to maintain a competitive price-to-earnings (PE) ratio compared to its peers, indicating significant future profit growth potential [20]

科研人员研发"闪速退火"工艺 一秒"炼"就晶圆级高性能储能薄膜 近日，中国科学院金属研究所沈阳材料科学国家研究中心胡卫进研究员团队携手合作者，开发出一种热处理升降温速率可达每秒1000摄氏度的"闪速退 火"工艺，成功制备出晶圆级高性能储能薄膜。相关成果于11月15日凌晨发表在《科学进展》期刊上，为下一代高性能储能电容器件的制造开辟了一条新 路径。 科研人员介绍，在脉冲激光器、新能源汽车等应用的功率电子器件中，有一类名为"电介质储能电容器"的元件至关重要，它们以极高的功率快速充放电， 并且极其耐用。然而，科学家们一直面临一个难题：如何让这些电容器在保持强大储能能力的同时，还能经受住从极寒到酷热的极端温度考验，并且易于 大规模生产。 此次研究中，利用"闪速退火"工艺，研究人员可仅用1秒钟，就能在硅晶圆上制备出一种名为锆酸铅的弛豫反铁电薄膜。据介绍，这项工艺技术可以将材 料在高温下的特殊结构"冻结"在室温，形成了尺寸不到3纳米的纳米微畴。这些微小的结构如同一个精密的迷宫，是诱导弛豫反铁电行为，实现高效率储 能的关键。同时，"闪速退火"还让薄膜的"肌理"更加致密均匀，并有效锁住了容易挥发的铅元素，从根源上减少了材料缺 ...