Core Viewpoint - Yihau New Materials experienced a slight decline in stock price, with significant trading activity and notable financing metrics indicating a high level of investor interest despite recent financial challenges [1][2]. Financing Summary - On October 10, Yihau New Materials had a financing buy-in amount of 5.34 million yuan, with a net financing buy of 686,100 yuan after repayments [1]. - The total financing balance reached 59.23 million yuan, accounting for 3.96% of the circulating market value, which is above the 50th percentile level over the past year [1]. - The company reported no short-selling activity on the same day, with a short-selling balance of 0 yuan, indicating a high level of investor confidence [1]. Financial Performance - For the first half of 2025, Yihau New Materials achieved operating revenue of 748 million yuan, reflecting a year-on-year growth of 9.67% [2]. - The company reported a net profit attributable to shareholders of -15.12 million yuan, a significant decrease of 600.38% compared to the previous period [2]. Shareholder Information - As of September 30, the number of shareholders for Yihau New Materials was 16,800, a decrease of 2.71% from the previous period [2]. - The average number of circulating shares per shareholder increased by 2.79% to 3,364 shares [2]. Dividend Information - Since its A-share listing, Yihau New Materials has distributed a total of 18.60 million yuan in dividends [3].

Group 1: Stock Performance and Market Stability - The company's stock was issued at a price of 23.88 CNY, but the current stock price is 17 CNY, significantly below the issuance price, raising concerns about market stability and investor confidence [1] - The company acknowledges that stock prices in the secondary market are influenced by multiple factors and emphasizes the importance of transparent communication regarding financial and operational status [1] - The company plans to continuously optimize its main business and strengthen its industrial chain collaboration to enhance overall company value [1] Group 2: Market Conditions and Business Strategy - The domestic electrolytic copper foil industry remains highly competitive, with processing fees at historical lows, impacting the company's performance [2] - The company aims to consolidate and expand its market share in high-end electronic circuit copper foil, improve product quality, and enhance production capacity for high-frequency and ultra-thin copper foil [2] - Adjustments to the PCB product structure and production layout are planned to increase the proportion of high-value-added products and improve capacity utilization [2] Group 3: Financial Performance and Future Outlook - The company's performance has been disappointing since its listing, with ongoing challenges in achieving profitability in the PCB business, particularly for double-sided and multi-layer products [3] - The company expects that as industry competition leads to capacity reduction, supply and demand relationships will gradually improve, potentially enhancing future performance [3] - Ongoing projects funded by the initial public offering are progressing as expected, aligning with the company's commitments made during the IPO [3] Group 4: Shareholder Actions and Market Management - The company is committed to market value management and will disclose any plans for share buybacks in accordance with relevant laws and regulations [4] - Concerns were raised regarding major shareholders reducing their holdings despite the stock price being below the issuance price, with clarifications that the reducing shareholders are not the controlling shareholders of the company [5]