2月25日，石英股份涨1.89%，成交额19.87亿元。两融数据显示，当日石英股份获融资买入额2.44亿 元，融资偿还1.83亿元，融资净买入6097.35万元。截至2月25日，石英股份融资融券余额合计10.08亿 元。 分红方面，石英股份A股上市后累计派现33.74亿元。近三年，累计派现29.45亿元。 机构持仓方面，截止2025年9月30日，石英股份十大流通股东中，香港中央结算有限公司位居第四大流 通股东，持股1164.41万股，相比上期增加364.38万股。国泰估值优势混合(LOF)A（160212）位居第六 大流通股东，持股420.66万股，为新进股东。南方中证500ETF（510500）位居第七大流通股东，持股 393.84万股，相比上期减少6.92万股。易方达环保主题混合A（001856）位居第八大流通股东，持股 338.06万股，为新进股东。光伏ETF（515790）位居第九大流通股东，持股308.03万股，相比上期减少 6.20万股。睿远成长价值混合A（007119）退出十大流通股东之列。 融资方面，石英股份当日融资买入2.44亿元。当前融资余额10.00亿元，占流通市值的3.72%，融资余额 ...

（编辑 姚尧） 证券日报网讯 2月2日，石英股份在互动平台回答投资者提问时表示，目前公司主要核心半导体产品生 产线集中于母公司。公司专注于半导体级高纯石英材料的研发、制造和销售，主要产品包括各类高纯石 英管、棒、筒、锭等。 ...

Core Viewpoint - Quartz Co., Ltd. has shown a significant increase in stock price and trading volume, indicating positive market sentiment despite a decline in revenue and profit for the year [1][2]. Group 1: Stock Performance - On January 9, Quartz Co., Ltd. saw a stock price increase of 2.04%, reaching 40.07 CNY per share, with a trading volume of 293 million CNY and a turnover rate of 1.36%, resulting in a total market capitalization of 21.705 billion CNY [1]. - Year-to-date, the stock price has risen by 9.54%, with a 9.54% increase over the last five trading days, an 8.01% increase over the last 20 days, and a 4.16% decrease over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Quartz Co., Ltd. reported a revenue of 753 million CNY, a year-on-year decrease of 24.46%, and a net profit attributable to shareholders of 135 million CNY, down 56.81% year-on-year [2]. - Since its A-share listing, the company has distributed a total of 3.374 billion CNY in dividends, with 2.945 billion CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Quartz Co., Ltd. was 55,200, a decrease of 13.28% from the previous period, with an average of 9,813 circulating shares per person, an increase of 15.32% [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 11.6441 million shares, an increase of 3.6438 million shares from the previous period, and several new institutional investors have entered the top ten [3].

Core Viewpoint - The company, Quartz Co., has faced significant challenges, including a criminal judgment against its subsidiary for trade secret infringement, amidst a sharp decline in financial performance [2][4][9]. Financial Performance - In 2024 and the first three quarters of 2025, Quartz Co. reported revenues of 1.21 billion yuan and 753 million yuan, representing year-on-year declines of 83.15% and 24.46% respectively [3][12]. - The net profit attributable to shareholders for the same periods was 334 million yuan and 135 million yuan, showing declines of 93.38% and 56.81% year-on-year [3][12]. - The gross margin for Quartz Co. peaked at 87.5% in 2023 but fell to 35.39% in the first three quarters of 2025, a drop of approximately 52 percentage points [14][15]. Legal Issues - On January 5, 2025, Quartz Co. and its subsidiary, Qiangbang Company, received a criminal judgment, with Qiangbang being fined 2.7 million yuan for trade secret infringement [2][4]. - The judgment included prison sentences for individuals involved, with fines totaling 170,000 yuan for two defendants and a suspended sentence for another [4][5]. Business Operations - Qiangbang Company, acquired by Quartz Co. four years ago, had previously met performance targets, achieving revenues of 48.98 million yuan and net profits of 16.81 million yuan in 2022 [6][8]. - However, Qiangbang's performance deteriorated in 2024, with revenues of 42.99 million yuan and a net loss of 421,040 yuan [12][13]. Market Context - The quartz industry has experienced significant volatility, particularly in the photovoltaic sector, leading to a drastic reduction in demand for quartz materials [10][11]. - Quartz Co. has indicated plans to enhance cost management and product competitiveness while exploring new business opportunities in the semiconductor and photovoltaic sectors [15].

Core Viewpoint - Jiangsu Pacific Quartz Co., Ltd. (referred to as "the Company") and its subsidiary Lianyungang Qiangbang Quartz Products Co., Ltd. have been involved in a legal case regarding the infringement of trade secrets, resulting in a fine of 2.7 million RMB for Qiangbang [1][2]. Group 1: Legal Issues - Qiangbang was convicted of trade secret infringement, leading to a fine of 2.7 million RMB, while individual defendants received prison sentences and additional fines [2]. - The Company emphasizes that it is the victim in this case and that its current operations remain normal, although the judgment is not yet final [2]. Group 2: Acquisition Details - In 2022, the Company planned to acquire 51% of Qiangbang for 51 million RMB, with an estimated valuation of 100 million RMB for Qiangbang based on financial metrics [1]. - The acquisition was intended to enhance the Company's production scale of high-purity quartz sand, but it has faced legal challenges due to Qiangbang's historical issues with trade secret violations [2]. Group 3: Financial Performance - The Company has experienced a decline in financial performance, with revenue and net profit for the first three quarters of 2025 reported at 753 million RMB and 135 million RMB, respectively, reflecting year-on-year decreases of 24.46% and 56.81% [3].

Core Viewpoint - The company Quartz Co., Ltd. (石英股份) faces legal challenges due to a criminal judgment against its subsidiary, Qiangbang Quartz Products Co., Ltd., for trade secret infringement, which may impact its operations and financials in the short term [1] Group 1: Legal Issues - Qiangbang Quartz Products Co., Ltd. was fined 2.7 million yuan and ordered to return approximately 2.65 million yuan in illegal gains due to trade secret infringement [1] - Key individuals involved in the case received significant prison sentences, with one individual sentenced to seven years and another to six years [1] - The company asserts that it is the victim in this case, and the criminal activities occurred before it acquired control of Qiangbang [1] Group 2: Business Operations - Quartz Co., Ltd. specializes in the research, production, and sales of high-purity quartz sand and related materials, primarily serving the semiconductor, photovoltaic, and optical industries [2] - The semiconductor sector is a priority for the company, contributing significantly to its revenue, with ongoing efforts to enhance market share and product certification [2] - The company has successfully completed certification for its semiconductor materials with a leading domestic storage wafer manufacturer [2] Group 3: Financial Performance - The company reported a decline in revenue and net profit for the first three quarters of 2025, with revenues of 753 million yuan and net profits of 135 million yuan, reflecting year-on-year decreases of 24.46% and 56.81%, respectively [3] - Analysts suggest that the domestic semiconductor industry's push for self-sufficiency may benefit the company, as it is well-prepared to increase production capacity [3] - The semiconductor materials segment is expected to become a key growth driver for the company if market share increases [3]

Investment Rating - The industry rating is "Overweight" (first-time) [6] Core Insights - The report highlights the acquisition of 100% equity of Henan High Purity Minerals by AnCai High Technology, which occurred in September 2025. This acquisition aims to enhance the production and sales of high-purity quartz materials essential for semiconductor, photovoltaic, and optical fiber communication industries [6] - Quartz Co. has successfully mass-produced and sold various high-end quartz material products, including semiconductor-grade quartz tubes, rods, and ingots, as of November 27, 2025. These products are crucial for key processes in semiconductor manufacturing [6] - The establishment of high-purity quartz as the 174th new mineral type in China, announced in April 2025, signifies a breakthrough in domestic mineral resources, with purity levels not lower than 99.995%. This development is expected to strengthen the resilience and security of the domestic supply chain [6] Summary by Sections - **Recent Industry Performance**: The industry has shown a relative return of 6.65% over the past 12 months, with an absolute return of 23.5% [3] - **Investment Highlights**: The acquisition by AnCai High Technology and the production capabilities of Quartz Co. are pivotal developments, indicating a growing market for high-purity quartz materials [6] - **Market Demand**: High-purity quartz is characterized by its high-temperature resistance, corrosion resistance, low thermal expansion, high insulation, and transparency, making it indispensable for semiconductor and photovoltaic industries [6] - **New Mineral Classification**: The recognition of high-purity quartz as a new mineral type is expected to foster the development of new production capabilities and enhance the domestic supply chain [6]

Core Viewpoint - Quartz Co., Ltd. has shown a significant stock price increase of 38.68% year-to-date, despite a recent slight decline in the last five and twenty trading days [1][2] Company Overview - Jiangsu Pacific Quartz Co., Ltd. is located in Lianyungang City, Jiangsu Province, and was established on April 23, 1999, with its listing date on October 31, 2014 [1] - The company specializes in 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 main business 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 - For the period from January to September 2025, Quartz Co. reported a revenue of 753 million yuan, a year-on-year decrease of 24.46%, and a net profit attributable to shareholders of 135 million yuan, down 56.81% 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 in the last three years [3] Shareholder Information - As of September 30, 2025, the number of shareholders for Quartz Co. was 55,200, a decrease of 13.28% from the previous period, with an average of 9,813 circulating shares per person, an increase of 15.32% [2] - Major shareholders include Hong Kong Central Clearing Limited, which holds 11.6441 million shares, and new entrants such as Guotai Value Advantage Mixed Fund and E Fund Environmental Theme Mixed Fund [3]

Core Viewpoint - Quartz Co., Ltd. has experienced a stock price increase of 39.42% year-to-date, but has seen a decline of 5.44% in the last five trading days and 8.15% in the last twenty days, indicating volatility in its recent performance [1][2]. Company Overview - Jiangsu Pacific 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 is as follows: quartz tubes (rods) account for 82.56%, quartz sand for 13.38%, other products for 3.61%, and quartz crucibles for 0.45% [1]. Financial Performance - For the period from January to September 2025, Quartz Co. achieved an operating income of 753 million yuan, a year-on-year decrease of 24.46%. The net profit attributable to the parent company was 135 million yuan, down 56.81% year-on-year [2]. - Since its A-share listing, the company has distributed a total of 3.374 billion yuan in dividends, with 2.945 billion yuan distributed over the last three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders for Quartz Co. was 55,200, a decrease of 13.28% from the previous period. The average number of circulating shares per person increased by 15.32% to 9,813 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the fourth largest, holding 11.6441 million shares, an increase of 3.6438 million shares from the previous period. New shareholders include Guotai Value Advantage Mixed Fund (LOF) A and E Fund Environmental Theme Mixed Fund A [3].

Core Viewpoint - Quartz Co., Ltd. has experienced a continuous decline in stock price, with a total drop of 9.22% over the last five days, leading to concerns about its market performance and investor sentiment [1]. Company Overview - Quartz Co., Ltd. is located in Lianyungang City, Jiangsu Province, and was established on April 23, 1999, with its listing date on October 31, 2014. The company specializes in the research, production, and sales of high-purity quartz sand, quartz tubes (rods, plates, ingots, and cylinders), quartz crucibles, and other quartz materials [1]. - The main applications of its products include light sources, photovoltaics, semiconductors, and fiber optics [1]. - The revenue composition of the company is as follows: quartz tubes (rods) 82.56%, quartz sand 13.38%, others 3.61%, and quartz crucibles 0.45% [1]. Stock Performance - As of November 5, the stock price of Quartz Co., Ltd. is 39.00 CNY per share, with a trading volume of 500 million CNY and a turnover rate of 2.38%. The total market capitalization is 21.125 billion CNY [1]. - The stock has seen a decline of 0.99% on the reporting day, continuing a downward trend over the past five days [1]. Shareholder Insights - E Fund's Environmental Theme Mixed A Fund (001856) has entered the top ten circulating shareholders of Quartz Co., Ltd., holding 3.3806 million shares, which accounts for 0.62% of the circulating shares [2]. - The fund has incurred a floating loss of approximately 1.3185 million CNY today and a total floating loss of 13.3874 million CNY during the five-day decline [2]. Fund Manager Profile - The fund manager of E Fund's Environmental Theme Mixed A Fund is Qi He, who has been in the position for 7 years and 316 days. The total asset size of the fund is 17.266 billion CNY [3]. - During his tenure, the best fund return achieved was 332.11%, while the worst return was 5.22% [3]. Fund Holdings - E Fund's Environmental Theme Mixed A Fund has Quartz Co., Ltd. as its ninth-largest holding, with 3.3806 million shares, representing 3.36% of the fund's net value [4]. - The fund has also experienced a floating loss of approximately 1.3185 million CNY today and a total floating loss of 13.3874 million CNY during the five-day decline [4].