足者，但公司基于对电子散热行业趋势的前瞻性预判，坚持在相关领域 进行创新投入与技术积累，储备了大量工艺技术、人才与市场资源。 公司与投资者主要交流情况： 1、问：请简要介绍下，在智能手机领域散热产品的应用情况？ 答：在智能手机领域，根据散热场景热源功耗、散热要求、空间结 构等特点，各类散热产品会被单独或搭配组合使用，传统 4G手机通常采 用"导热界面材料+石墨膜"组合作为散热方案，在 5G手机、中高性能 4G手机等领域，工作功耗及散热要求相对更高，通常采用"导热界面材 料+石墨膜+热管/均温板"组合或"导热界面材料+热管/均温板"组合作 为散热方案。 2、问：公司目前生产基地是如何分布的，未来生产基地将如何规划？ 答：公司当前生产基地位于苏州、浙江嵊州（租赁厂房）及越南北 宁（租赁厂房）。嵊州天脉于 2024 年购置 54 亩土地建设自有厂房，目 前上述厂房尚处于建设过程中。在现有的生产基地基础上，公司拟购置 100 亩土地用于投资建设苏州天脉导热散热产品智能制造甪直基地建设 项目。上述项目的建设实施需要一定的周期，预计短期内不会对公司业 绩产生重大影响，公司将根据项目的进展情况及时履行相关的信息披露 义务， ...

Core Viewpoint - The company, Anhui Fulede Technology Development Co., Ltd., plans to issue shares and convertible bonds to acquire 100% equity of Jiangsu Fulehua Semiconductor Technology Co., Ltd., with a total transaction value of 655 million yuan [6][14][20]. Group 1: Transaction Overview - The company intends to acquire 100% equity of Jiangsu Fulehua through the issuance of shares and convertible bonds to 59 trading parties [6][14]. - The assessment report values the 100% equity of Fulehua at 655 million yuan as of September 30, 2024 [6][14]. - The total consideration for the transaction is set at 655 million yuan, with shares and convertible bonds as payment methods [6][14]. Group 2: Fundraising Details - The company plans to raise up to 782.59 million yuan through the issuance of shares to no more than 35 specific investors [12][20]. - The total amount raised will not exceed 100% of the transaction price for the asset acquisition [12][20]. - The funds will be used for intermediary fees, taxes, and specific projects related to semiconductor production [12][20]. Group 3: Share Issuance and Pricing - The shares will be issued at a price of 16.30 yuan per share, which is not lower than 80% of the average trading price over the previous 20 trading days [14][15]. - The total number of shares to be issued is approximately 379.76 million, accounting for 52.88% of the company's total share capital post-transaction [14][15]. - The pricing mechanism includes adjustments for any corporate actions such as dividends or stock splits during the pricing period [15][20]. Group 4: Convertible Bonds - The company will issue convertible bonds with a total value of approximately 35.99 million yuan, representing 5.49% of the total transaction price [20][21]. - The initial conversion price for the bonds is set at 16.30 yuan per share, with no adjustment mechanism for the conversion price [21][24]. - The bonds will have a maturity period of four years and a nominal interest rate of 0.01% per annum [22][24].

2025 年 06 月 29 日 行业研究 评级：推荐(维持) 研究所： | 证券分析师： | 李永磊 S0350521080004 | | --- | --- | | | liyl03@ghzq.com.cn | | 证券分析师： | 董伯骏 S0350521080009 | | | dongbj@ghzq.com.cn | | 证券分析师： | 陈云 S0350524070001 | | | cheny17@ghzq.com.cn | [Table_Title] 全球 7nm 及以下产能 2024-2028 CAGR 料达 14%， 我国光伏累计装机破 10 亿千瓦 ——化工新材料产业周报 最近一年走势 核心逻辑 新材料是化工行业未来发展的一个重要方向，正处于下游需求迅速 爆发阶段，随着政策支持与技术突破，国内新材料有望迎来加速成 长期。所谓"一代材料，一代产业"，新材料产业属于基石性产业， 是其他产业的物质基础。我们筛选了支撑人类社会发展的重要领域， 包括电子信息、新能源、生物技术、节能环保等，持续挖掘并追踪 处于上游核心供应链、研发能力较强、管理优异的新材料公司。 1）电子信息板块：重点关注半导体材料 ...

产能利用率达 70%-90%，公司外销业务占比长期超过 60%。在国内业 务方面，公司持续深化与四大运营商的战略合作，同时积极拓展超级 SIM 卡创新应用场景，以提升产品附加值。 智能卡作为信息化基础设施的关键组成部分，已深度融入金融支付、 移动通信、公共交通、安全认证等多个领域，目前全球智能卡市场需 求稳定，公司将继续维持智能卡业务的现有产能规模，未来将重点推 进产能效率优化与产业链整合升级。 Q3：半导体封装材料业务的客户拓展情况如何？与液冷客户群体是否 有重叠情况？ A：公司半导体封装材料业务的核心客户为国内知名的功率半导体封 装企业，并正稳步向海外大型封装集团拓展。目前，公司已实现引线 框架和散热铜针底座的自主设计与量产落地，产品可满足 MOSFET、 IGBT、SiC 及 IGBT 功率模块的封装应用需求。未来将重点推进高导 热铜针式散热底板等产品的产业化落地，加速实现 SiC 和 IGBT 模块 封装材料系统化解解决方案的应用部署，持续拓展行业头部功率模块 客户及其工装配套供应体链体系，积极响应行业高性能、高可靠性发 展的趋势，加快向高端模块封装材料领域转型升级。 半导体封装材料主要客户群体主要为 ...

证券代码：300684 证券简称：中石科技 北京中石伟业科技股份有限公司 投资者关系活动记录表 编号：2025-06-26 二、问答环节 1、公司 2025 年第一季度利润率提升原因？ 答：一季度随着公司新项目上量、新产品的逐步导入，公司在 国内外主要大客户市场份额提升，收入增长下规模效应显现；同时 受益于产品结构优化、降本增效措施，盈利能力实现稳步提升。 2、关税政策对公司的影响？ 答：公司产品出口主要是通过国内保税区进行交付及结算，以 及销售至东南亚等地区，直接出口至美国区域的产品收入较低（占 整体营收比例不到 1%），加征关税事项对公司影响较小。 投资者关系活动 类别 □特定对象调研 □媒体采访 □新闻发布会 □现场参观 □分析师会议 □业绩说明会 ☑路演活动 □其他（电话会议） 形式 ☑现场 □网上 □电话会议 参与单位名称及 人员姓名 国海证券、兴业证券、民生证券、国投证券、南方基金、华商基金、 诺安基金、国联基金、中信建投基金、招商基金、新华基金、工银 瑞信基金、天弘基金、农银汇理基金、中信资管、渤海汇金、北京 金塔投资、北银理财等。 时间 2025 年 6 月 25 日-6 月 26 日 地点 ...

Group 1 - The Ministry of National Security emphasizes that technological self-reliance is crucial for national security, highlighting the need for coordinated development and security to address risks in the tech sector [1] - The Summer Davos Forum is expected to enhance global economic stability and cooperation, with record attendance indicating a strong commitment to economic globalization and trade [2] - The total market size of bond ETFs has surpassed 352.41 billion, with two ETFs crossing the 50 billion mark, indicating a growing interest in bond investments [3] Group 2 - Huawei collaborates with Softcom and other partners to develop intelligent robots for manufacturing, focusing on humanoid robots for various applications [4] - A breakthrough in bidirectional high thermal conductivity graphite film has been achieved, which could provide critical materials for high-power device thermal management [5] - Guangzhou aims for over 90% of new cars to be L2 or higher level intelligent connected vehicles by 2027, indicating a strong push towards smart and connected automotive technology [6] Group 3 - Concerns about a potential recession in the U.S. have been raised, with predictions of a 25% drop in the S&P 500 index, reflecting investor anxiety [7] - The Chinese government is initiating a special rectification campaign in the government procurement sector to address various illegal activities, which may impact procurement practices [8] - China is actively participating in international scientific programs, including ITER and other major initiatives, showcasing its commitment to global scientific collaboration [9][10]

Core Viewpoint - A research team from the Shanghai Institute of Microsystem and Information Technology and Ningbo University has developed a bidirectional high thermal conductivity graphite film using aramid film as a precursor, achieving significant improvements in thermal conductivity compared to traditional thermal films [1] Group 1: Research Findings - The bidirectional high thermal conductivity graphite film achieved an in-plane thermal conductivity (Kin) of 1754 W/m.K and an out-of-plane thermal conductivity (Kout) exceeding 14.2 W/m.K with a thickness of 40 micrometers [1] - The new film demonstrates significant advantages in both in-plane and out-of-plane thermal conductivity and defect control compared to conventional thermal films [1] Group 2: Application and Impact - In thermal simulations for smartphones, the surface temperature of chips using the bidirectional high thermal conductivity graphite film decreased from 52°C to 45°C [1] - For high-power chip cooling at a heat flux density of 2000 W/cm, the temperature difference on the chip surface was reduced from 50°C to 9°C, enabling rapid temperature uniformity [1] Group 3: Material and Technology Implications - The research highlights the unique advantages of aramid precursors in the preparation of graphite films, demonstrating that nitrogen doping and low oxygen content precursors can enhance the crystallization quality and bidirectional thermal properties of graphite films [1] - The breakthrough in bidirectional thermal conductivity is expected to provide critical materials and technical support for thermal management in high-power devices such as 5G chips and power semiconductors [1]

证券代码：300684 证券简称：中石科技 北京中石伟业科技股份有限公司 投资者关系活动记录表 编号：2025-05-29 投资者关系活 动类别 □特定对象调研 □媒体采访 □新闻发布会 □现场参观 □分析师会议 □业绩说明会 ☑路演活动 □其他（电话会议） 形式 ☑现场 □网上 □电话会议 参与单位名称 及人员姓名 中信证券、民生证券、方正证券、博时基金、华商基金、华安基金、 诺德基金、Brilliance Capital、国君资管、浙商资管、健顺投资、 思晔投资、厚葳基金、利幄基金、上海合远私募基金、上海和途私募 基金、祐益峰资产等。 时间 2025 年 5 月 27 日-5 月 29 日 地点 上海 上市公司接待 人员姓名 董事会秘书：张伟娜女士 投资者关系活 动主要内容介 绍 一、公司介绍 公司是功能高分子材料及热管理解决方案全球领导者，以高成长 行业需求为依托，聚焦核心材料及组件，紧跟 AI+行业发展趋势，为 客户提供电子设备可靠性综合解决方案。 公司以技术研发为主导，是一家拥有大批量交付能力的电子设备 可靠性综合解决方案服务商。公司针对电子设备普遍存在的热管理、 电磁兼容、粘接与密封等问题，开发系 ...

Group 1 - The issuance of convertible bonds has slowed down this year, with 14 bonds issued by May 25, raising a total of 18.927 billion yuan, a year-on-year decrease of 11.54% [1] - The top five convertible bonds by fundraising amount include Yiwai Convertible Bond, Taineng Convertible Bond, Yushui Convertible Bond, Weice Convertible Bond, and Nanyao Convertible Bond, all exceeding 1 billion yuan, with Yiwai Convertible Bond raising 5 billion yuan for energy storage and vehicle battery projects [1] - Several companies have announced plans to issue convertible bonds for investment projects, including Lianrui New Materials aiming to raise up to 720 million yuan for high-performance materials and UpSound Electronics planning to raise up to 330 million yuan for technology upgrades and working capital [1] Group 2 - Poly Developments has received approval from the CSRC for a cash-type targeted convertible bond issuance, with a total amount not exceeding 8.5 billion yuan, aimed at 15 real estate projects related to "guaranteeing housing delivery and people's livelihood" [2] - A significant number of convertible bonds have been redeemed this year, with 49 bonds delisted from exchanges, 34 of which were due to triggering early redemption clauses, accounting for about 70% [2] - Companies are increasingly using convertible bonds as a payment tool for mergers and acquisitions, with Xunbang Intelligent announcing plans to acquire equity through the issuance of shares and convertible bonds, indicating a trend towards more flexible deal structures in the restructuring market [2]

市 公 司 电子 2025 年 05 月 24 日 德邦科技 (688035) ——IC 及智能终端新品预将放量，利润重回增长 报告原因：有业绩公布需要点评 买入（维持） | 市场数据： | 2025 年 05 月 23 日 | | --- | --- | | 收盘价（元） | 38.77 | | 一年内最高/最低（元） | 48.89/23.23 | | 市净率 | 2.4 | | 股息率%（分红/股价） | 0.64 | | 流通 A 股市值（百万元） | 3,443 | | 上证指数/深证成指 | 3,348.37/10,132.41 | | 注："股息率"以最近一年已公布分红计算 | | | 基础数据: | 2025 年 03 月 31 日 | | | --- | --- | --- | | 每股净资产（元） | | 16.36 | | 资产负债率% | | 22.19 | | 总股本/流通 A 股（百万） | | 142/89 | | 流通 B 股/H 股（百万） | | -/- | 一年内股价与大盘对比走势： 05-23 06-23 07-23 08-23 09-23 10-23 11-23 12 ...