截至发稿，李昱累计任职时间8年38天，现任基金资产总规模86.64亿元，任职期间最佳基金回报 188.36%， 任职期间最差基金回报-7.92%。 从基金十大重仓股角度 数据显示，工银瑞信基金旗下1只基金重仓江南新材。工银中小盘混合（481010）四季度持有股数42.57 万股，占基金净值比例为3.11%，位居第八大重仓股。根据测算，今日浮亏损失约252.47万元。 工银中小盘混合（481010）成立日期2010年2月10日，最新规模10.78亿。今年以来收益18.93%，同类排 名498/8891；近一年收益51.52%，同类排名1248/8137；成立以来收益348.5%。 工银中小盘混合（481010）基金经理为李昱。 2月27日，江南新材跌5.02%，截至发稿，报112.15元/股，成交2.15亿元，换手率6.48%，总市值163.45 亿元。 资料显示，江西江南新材料科技股份有限公司位于江西省鹰潭市月湖区鹰潭工业园区，成立日期2007年 7月26日，上市日期2025年3月20日，公司主营业务涉及主要从事铜基新材料的研发、生产与销售。主营 业务收入构成为：铜球系列78.30%，氧化铜粉系列17.26% ...

Group 1 - Jiangnan New Materials experienced a stock price increase of 5.12%, reaching 101.98 yuan per share, with a trading volume of 1.02 billion yuan and a turnover rate of 3.49%, resulting in a total market capitalization of 14.863 billion yuan [1] - Jiangnan New Materials, established on July 26, 2007, is located in Yingtan City, Jiangxi Province, and specializes in the research, production, and sales of copper-based new materials. The revenue composition includes: copper ball series 78.30%, copper oxide powder series 17.26%, others 2.66%, high-precision copper-based heat sinks 1.74%, and copper material trading 0.01% [1] Group 2 - ICBC Credit Suisse Fund has a significant holding in Jiangnan New Materials, with the ICBC Small and Medium Cap Mixed Fund (481010) holding 425,700 shares, accounting for 3.11% of the fund's net value, ranking as the eighth largest holding. The estimated floating profit today is approximately 2.1159 million yuan [2] - The ICBC Small and Medium Cap Mixed Fund (481010) was established on February 10, 2010, with a current scale of 1.078 billion yuan. Year-to-date returns are 13.87%, ranking 834 out of 8,890 in its category; the one-year return is 55.47%, ranking 1,169 out of 8,132; and since inception, the return is 329.4% [2]

Core Viewpoint - Jiangnan New Materials has shown a positive performance in terms of stock price and financial results, indicating growth potential in the copper-based new materials sector [1][2]. Group 1: Stock Performance - On January 27, Jiangnan New Materials' stock rose by 3.00%, with a trading volume of 207 million yuan [1]. - The financing buy-in amount on the same day was 14.88 million yuan, while the financing repayment was 20.05 million yuan, resulting in a net financing buy of -5.18 million yuan [1]. - As of January 27, the total margin trading balance for Jiangnan New Materials was 171 million yuan, accounting for 6.08% of its circulating market value [1]. Group 2: Financial Performance - For the period from January to September 2025, Jiangnan New Materials achieved an operating income of 7.569 billion yuan, representing a year-on-year growth of 18.34% [2]. - The net profit attributable to shareholders for the same period was 165 million yuan, reflecting a year-on-year increase of 21.95% [2]. - Cumulative cash dividends since the A-share listing amount to 53.93 million yuan [2]. Group 3: Shareholder Structure - As of September 30, 2025, the number of shareholders for Jiangnan New Materials was 9,904, a decrease of 60.29% compared to the previous period [2]. - The average circulating shares per person increased to 2,950 shares, up by 156.98% from the previous period [2]. - The top circulating shareholders include several new institutional investors, with Huaxia Industry Prosperity Mixed A being the largest, holding 1.6299 million shares [2].

Group 1 - Jiangnan New Materials Co., Ltd. experienced a stock price increase of 5.27% on January 21, reaching 92.68 CNY per share, with a trading volume of 82.63 million CNY and a turnover rate of 3.11%, resulting in a total market capitalization of 13.508 billion CNY [1] - The company, established on July 26, 2007, is located in Yingtan City, Jiangxi Province, and specializes in the research, production, and sales of copper-based new materials. The main revenue composition includes copper ball series (78.30%), copper oxide powder series (17.26%), and other products [1] Group 2 - According to data from the top ten holdings of funds, one fund under Rongtong holds a significant position in Jiangnan New Materials. The Rongtong Advanced Manufacturing Mixed A Fund (014647) held 197,200 shares in the third quarter, accounting for 5.1% of the fund's net value, making it the sixth-largest holding [2] - The Rongtong Advanced Manufacturing Mixed A Fund, established on February 22, 2022, has a current scale of 315 million CNY. Year-to-date returns are 3.06%, with a one-year return of 71.75%, ranking 585 out of 8091 in its category [2]

Group 1 - Jiangxi Jiangnan New Materials Technology Co., Ltd. experienced a stock price increase of 5.17%, reaching 87.69 CNY per share, with a total market capitalization of 12.78 billion CNY [1] - The company specializes in the research, production, and sales of copper-based new materials, with its main revenue sources being copper ball series (78.30%), copper oxide powder series (17.26%), and high-precision copper-based heat sinks (1.74%) [1] Group 2 - Rongtong Fund has a significant holding in Jiangnan New Materials, with the Rongtong Advanced Manufacturing Mixed A Fund (014647) holding 197,200 shares, accounting for 5.1% of the fund's net value [2] - The Rongtong Advanced Manufacturing Mixed A Fund has achieved a year-to-date return of 2.62% and a one-year return of 79.03%, ranking 462 out of 8081 in its category [2] Group 3 - The fund manager of Rongtong Advanced Manufacturing Mixed A is Wang Di, who has been in the position for 7 years and 203 days, with the fund's total asset size at 789 million CNY [3] - During Wang Di's tenure, the best fund return was 219.38%, while the worst return was -6.17% [3]

Group 1 - Jiangnan New Materials Co., Ltd. experienced a stock price increase of 5.1%, reaching 82.89 CNY per share, with a trading volume of 164 million CNY and a turnover rate of 6.92%, resulting in a total market capitalization of 12.081 billion CNY [1] - The company, established on July 26, 2007, is located in Yingtan City, Jiangxi Province, and specializes in the research, production, and sales of copper-based new materials. The main revenue composition includes: copper ball series 78.30%, copper oxide powder series 17.26%, others 2.66%, high-precision copper-based heat sinks 1.74%, and copper material trading 0.01% [1] Group 2 - Changsheng Fund has a significant holding in Jiangnan New Materials, with the Changsheng Craftsmanship Research Mixed A Fund (014885) holding 25,500 shares, accounting for 2.39% of the fund's net value, ranking as the tenth largest holding. The estimated floating profit today is approximately 102,500 CNY [2] - The Changsheng Craftsmanship Research Mixed A Fund was established on July 5, 2022, with a latest scale of 63.4632 million CNY. Year-to-date returns are 30.18%, with a peer ranking of 3108 out of 8155; the one-year return is also 30.18%, maintaining the same ranking [2]

Core Viewpoint - Jiangnan New Materials plans to invest approximately 300 million yuan in a high-end copper-based core material R&D and industrialization project to optimize its product layout and accelerate transformation and upgrading to meet future development needs [1] Group 1: Investment and Project Details - The project will cover an area of about 320 acres and include the construction of smart manufacturing facilities, advanced production equipment, and modern office, R&D, dormitory, and warehouse buildings [1] - The main products of the project will include copper ball series and high-precision copper-based heat sink series [1] Group 2: Market Demand and Growth - Jiangnan New Materials has seen increasing market demand for its core products, including copper balls, copper oxide powder, and high-precision copper-based heat sinks, driven by advancements in AI, automotive electronics, high-speed optical modules, and satellite communications [2] - The rapid development of the renewable energy sector, particularly in the photovoltaic field, is also boosting demand for copper-based new materials [2] Group 3: Product Development and Innovation - The company is enhancing its R&D capabilities and production efficiency through the new project, which aims to improve automation and reduce production costs [3] - Jiangnan New Materials is focusing on high-end product development, with its microcrystalline phosphorus copper balls achieving a copper content exceeding 99.93% and grain size smaller than 50μm, setting industry-leading standards [4] - The company’s electronic-grade copper oxide powder has an oxidation content exceeding 99.3%, meeting higher industry standards and ensuring efficient and environmentally friendly production processes [5]

Group 1: Cooling and Communication Technologies - Hongsheng Co. has developed cooling distribution units (CDUs) and inter-row air conditioning systems that are now being applied in data center liquid cooling systems [2] - Tongding Interconnection focuses on the optical communication industry, having established a complete industrial chain covering preform rods, optical fibers, optical cables, communication cables, and equipment [2] - Longfly Fiber is a leading company in the global fiber optic cable industry, with advanced hollow core technology and successful bids in related projects [2] - Lian Technology specializes in the research, production, and sales of optical communication transceiver modules [2] - LightSpeed Technology is a leader in optical modules, with ByteDance as a significant client, and has launched a 1.6T silicon optical module [2] Group 2: Lithium Battery and Mining - Yichun has canceled 27 mining rights, leading to a surge in lithium carbonate futures [2] - Jinyuan Co. has established a circular economy system in the new energy materials sector, with lithium resource layouts in Tibet and Argentina, and has completed a production line capable of producing 2,000 tons of lithium carbonate annually [2] - Dazhong Mining's subsidiary has obtained a mining license for a lithium mine in Hunan, with a resource amount of 490 million tons, equivalent to approximately 3.2443 million tons of lithium carbonate [3] - Shengxin Lithium Energy's SDLA salt lake project in Argentina has an annual production capacity of 2,500 tons of lithium carbonate equivalent [3] Group 3: PCB and Electronic Materials - Ping An Electric's electronic cloth is widely used in automotive electronics, consumer electronics, smartphones, AI, and data centers [2] - Jiangnan New Materials produces core products including copper balls and copper oxide powder, which are used in PCB copper plating [2] - Shenzhen South Circuit is a leading domestic IC carrier board manufacturer, with a 37.75% year-on-year increase in net profit [2] Group 4: Consumer and Tourism - The Central Financial Office has prioritized expanding domestic demand as a key task for the coming year [2] - Nanjing Tourism Group's listed company focuses on tourism business, primarily through its subsidiary Qinhuai Scenic Area [2] - Qujiang Cultural Tourism is involved in the development of historical cultural scenic spots, including several national 5A scenic areas [2] Group 5: Aerospace and Robotics - Elon Musk hinted that SpaceX might conduct an IPO next year, with a potential valuation of $1.5 trillion [4] - Hong Kong Technology's subsidiary has signed a cooperation agreement for a South American project with a global satellite company [4] - The first mass production project for steer-by-wire technology is expected to begin in the second half of 2026, targeting L3+ smart driving vehicles [5]

Group 1 - Jiangnan New Materials experienced a decline of 0.60% on December 1, with a trading volume of 87.24 million yuan [1] - The financing data for Jiangnan New Materials on December 1 showed a financing purchase amount of 6.09 million yuan and a financing repayment of 8.09 million yuan, resulting in a net financing outflow of 1.99 million yuan [1] - As of December 1, the total balance of margin trading for Jiangnan New Materials was 95.80 million yuan, accounting for 4.46% of its circulating market value [1] Group 2 - As of September 30, Jiangnan New Materials had 9,904 shareholders, a decrease of 60.29% compared to the previous period, while the average circulating shares per person increased by 156.98% to 2,950 shares [2] - For the period from January to September 2025, Jiangnan New Materials reported an operating income of 7.57 billion yuan and a net profit attributable to shareholders of 165 million yuan, reflecting a year-on-year growth of 21.95% [2] - The company has distributed a total of 53.93 million yuan in dividends since its A-share listing [2] Group 3 - The top ten circulating shareholders of Jiangnan New Materials as of September 30, 2025, included several new institutional investors, with Huaxia Industry Prosperity Mixed A being the largest shareholder, holding 1.63 million shares [2] - Other notable new shareholders included Huaxia Excellent Growth Mixed A and Manulife Renaissance Mixed A, holding 847,000 shares and 805,000 shares respectively [2]

Core Viewpoint - Jiangnan New Materials experienced a stock price decline of 2.19% on November 19, with a current price of 79.62 CNY per share and a total market capitalization of 11.604 billion CNY [1] Financial Performance - For the period from January to September 2025, Jiangnan New Materials achieved a revenue of 7.569 billion CNY and a net profit attributable to shareholders of 165 million CNY, reflecting a year-on-year growth of 21.95% [2] Stock Market Activity - The stock has seen a year-to-date increase of 7.41%, but has declined by 3.47% over the last five trading days. The stock has appeared on the daily trading leaderboard 30 times this year, with the most recent appearance on October 14, where it recorded a net buy of -894.383 million CNY [1][2] Shareholder Information - As of September 30, 2025, the number of shareholders decreased by 60.29% to 9,904, while the average number of circulating shares per person increased by 156.98% to 2,950 shares [2] Dividend Distribution - Jiangnan New Materials has distributed a total of 53.926 million CNY in dividends since its A-share listing [3] Major Shareholders - The top circulating shareholders include Huaxia Industry Prosperity Mixed A, Huaxia Excellent Growth Mixed A, and several other funds, all of which are new shareholders [3]