证券日报网讯1月8日，诚志股份（000990）在互动平台回答投资者提问时表示，在OLED材料方面，公 司的研发主要聚焦于自主蓝光材料包括蓝光主体材料和蓝光客体材料，目前已在国内部分六代OLED面 板产线取得量产。同时，公司也在蓝光新方向如dual-EML、超荧光材料等方面进行布局。在光刻胶方 面，目前仍处于实验研发阶段，公司将持续跟进客户验证进展。未来，公司将紧抓显示材料产业国产化 替代的机遇，持续加强科研投入与市场拓展，努力推动产品结构向高端化升级。 ...

证券研究报告——晨会聚焦 2026 年 1 月 7 日 | 市场指数 | | | | --- | --- | --- | | 指数名称 | 收盘价 | 涨跌% | | 上证综指 | 4083.67 | 1.50 | | 深证成指 | 14022.55 | 1.40 | | 沪深 300 | 4790.69 | 1.55 | | 中小 100 | 8593.43 | 1.83 | | 创业板指 | 3319.29 | 0.75 | | 行业表现（申万一级） | | | | | --- | --- | --- | --- | | 指数名称 | 涨跌% | 指数名称 | 涨跌% | | 有色金属 | 4.26 | 通信 | (0.77) | | 非银金融 | 3.73 | 美容护理 | 0.20 | | 基础化工 | 3.12 | 银行 | 0.48 | | 国防军工 | 3.08 | 食品饮料 | 0.50 | | 综合 | 2.89 | 家用电器 | 0.52 | 资料来源：万得，中银证券 中银晨会聚焦-20260107 ■重点关注 【基础化工】电子材料行业 2026 年度策略*余嫄嫄 范琦岩 赵泰。受益于下 ...

全球OLED面板出货量稳健增长，在智能手机、平板、笔电、车载等领域的渗透率有望不断提升。25H1 我国显示面板全球份额首超50%，国内面板厂商相继布局高世代OLED产线，叠层OLED等新技术不断 推进，带动OLED材料需求进一步增长。2024年全球OLED显示材料市场销售额达24.4亿美元，预计 2031年达84.98亿美元，2025-2031年CAGR为19.8%。2024年我国OLED有机材料(终端+前端材料)市场规 模约为57亿元，同比大幅提升31%。目前OLED通用辅助材料国产化率约为12%，终端材料国产化率不 足5%，国内厂商不断进行国产化突破，同时随着国内OLED面板产能和市占率的扩张，国产OLED有机 发光材料市场空间有望持续扩大。另一方面，PSPI材料性能优异，与传统光刻胶相比可简化光刻工艺， 是OLED显示制程的核心主材。日本和美国企业占据全球PSPI主导地位。随着我国集成电路、OLED面 板等产业需求的进一步扩大，国内PSPI市场规模有望持续扩增，国产产品放量可期。 投资建议 智通财经APP获悉，中银国际发布研报称，受益于下游行业快速发展、先进技术不断迭代以及国产替代 大背景，电子材料领域 ...

Core Insights - The report emphasizes the growth opportunities in the electronic materials sector driven by rapid downstream development, technological advancements, and domestic substitution [3][5] - The semiconductor materials market is projected to grow significantly, with a forecasted sales revenue of USD 67.5 billion in 2024, reflecting a year-on-year increase of 3.8% [7][34] - The report maintains a "stronger than market" rating for the industry, indicating a positive outlook for investments in electronic materials [3][5] Semiconductor Materials - The global semiconductor materials market is expected to exceed USD 87 billion by 2029, with a compound annual growth rate (CAGR) of 4.5% from 2024 to 2029 [7][34] - China's semiconductor materials domestic substitution rate is currently around 15%, with significant reliance on imports for high-end materials [38][42] - Key materials such as CMP polishing materials, photoresists, and electronic specialty gases are seeing increased domestic production efforts, which are expected to enhance the domestic substitution rate [38][42] PCB Materials - The PCB industry is evolving towards high-frequency and high-speed applications, with increasing demand for electronic resins and fabrics [7][34] - The global market for electronic resins and fabrics used in PCB production is estimated at approximately USD 33.02 billion and USD 24.13 billion, respectively, in 2023 [7][34] - The transition to high-frequency and high-speed PCBs is driven by advancements in 5G technology and the rapid growth of data centers and cloud computing [7][34] OLED Materials - The demand for OLED materials is expected to grow rapidly due to increasing terminal application needs and the acceleration of high-generation line capacity release [7][34] - The global OLED display materials market is projected to reach USD 2.44 billion in 2024, with a CAGR of 19.8% expected from 2025 to 2031 [7][34] - Domestic OLED organic materials currently have a low substitution rate of around 12%, indicating significant growth potential as local manufacturers expand their capabilities [7][34] Investment Recommendations - The report recommends investing in companies benefiting from the semiconductor market recovery, such as Anji Technology, Yake Technology, and Jiangfeng Electronics, among others [5][34] - For AI server demand, companies like Shengquan Group and Dongcai Technology are highlighted as key players in the electronic resin market [5][34] - In the OLED sector, companies like Lite-On Optoelectronics and Wanrun Co., Ltd. are recommended due to their strong market positions [5][34] Industry Performance - The semiconductor materials index has shown a cumulative increase of 37.87% in 2025, outperforming the CSI 300 index by 18.72 percentage points [26] - The electronic chemicals index has increased by 54.98% in the same period, surpassing the CSI 300 index by 35.83 percentage points [26] - Overall, the electronic materials industry is experiencing stable growth, with significant improvements in revenue and profitability metrics [16][26]

资本与产业双线并进。 时隔两年半，宇隆科技再度冲击IPO，这不仅是一家面板产业链公司的上市之路，更是其实控人、陕西富豪王亚龙拓展A股版图的关键一步。 鲜为人知的是，宇隆科技最初是由王亚龙夫妇实控的科创板公司莱特光电(688150.SH)与另一公司共同出资设立。 而就在宇隆科技官宣二度IPO后不久，莱特光电宣布拟通过子公司切入高端电子材料新领域，聚焦石英纤维电子布(Q布)的研发与生产。 近日，在莱特光电一次调研活动中，该公司对上述新业务的开展进行了详细回应。 值得注意的是，这项被公司视为未来增长点的新业务，将由董事长兼总经理王亚龙亲自"挂帅"，直接负责日常经营管理。 王亚龙的下一步 2025年12月10日，莱特夸石悄然成立。这家注册资本500万元的公司，正是莱特光电聚焦Q布业务的主体，也是莱特光电产业链规划的关键一 环。 就目前的布局进展来看，新业务Q布的决策背后，处处充斥着王亚龙的痕迹。 在12月底的调研活动中，该公司公开表示，实控人王亚龙在高纯石英砂及PCBA领域均有成熟产业布局，一方面为Q布业务构建产业链协同基 础，另一方面高纯石英砂相关布局还可以为公司Q布业务核心原材料提供便利选择，降低供应链风险。 上 ...

Core Viewpoint - The article discusses the strategic transformation of China's new materials industry by 2025, emphasizing a "three-dimensional war" approach that includes "fortress materials" for national security, "sovereign materials" for technological independence, and "fusion materials" for future industry definition [3]. Group 1: Fortress Materials - The development of safety dimension materials is closely tied to national core interests, focusing on absolute reliability and performance under extreme conditions rather than cost-effectiveness [5]. - A significant breakthrough in 2025 is the mass production of the fourth-generation single crystal high-temperature alloy turbine blades, which can withstand temperatures above 1200°C and have a lifespan increased by nearly 50% compared to previous generations [8][10]. - Continuous silicon carbide fibers have transitioned from laboratory preparation to stable engineering mass production, with a production capacity of hundreds of tons, marking a strategic leap in the aerospace sector [14][15]. Group 2: Sovereign Materials - Sovereign materials focus on achieving "self-control" and enhancing industrial competitiveness, particularly in strategic sectors like semiconductors and high-end manufacturing [40]. - In the semiconductor sector, the production of 12-inch silicon wafers has reached a milestone with over 500,000 monthly shipments, and significant advancements in low-oxygen high-resistivity silicon wafer technology have been made [44]. - The domestic supply ratio of 300mm semiconductor silicon wafers is expected to increase from 15% to 40% by the end of 2025, significantly reducing reliance on imports [45]. Group 3: Fusion Materials - The fusion materials dimension represents a shift towards creating new demands and defining new products, characterized by the integration of materials science with cutting-edge fields like artificial intelligence and synthetic biology [72]. - AI-driven platforms for materials research have emerged, enabling rapid property prediction and screening, significantly reducing development cycles for critical materials [74]. - The integration of intelligent materials in robotics is evolving, allowing materials to interact with their environment and make autonomous decisions, marking a shift from passive components to intelligent structures [77].

董秘： 您好，公司布局的高性能聚合物产品聚醚酰亚胺（PEI）材料下游主要应用于光纤连接器、航空 航天复合材料及型材等应用领域，该材料目前已实现销售，其年产能1,500吨的量产线已投入试生产， 未来有望随着量产线运行成熟及下游需求增长逐步达产。感谢关注！ 投资者： 近期国家发改委等部门提出的对标国内外最严格污染排放要求，是否有增加沸石分子筛的市 场需求。中石化向贵司采购的沸石项目进展如何？ 董秘： 您好，公司与股东中国石化集团资本有限公司关联方已有业务合作，并已产生收入，如果未来 产生收入金额达到关联交易披露标准，公司会及时按规定披露交易金额等情况。感谢关注！ 当日关注点 截至2025年12月30日收盘，万润股份(002643)报收于14.99元，下跌1.77%，换手率3.3%，成交量30.02万 手，成交额4.51亿元。 董秘最新回复 投资者： 董秘好，请问三月科技综合技术研发中心暨新型光电材料高端生产基地是否已投入生产，预 计何时达产，达产后预计销售额是多少？该基地主要生产什么类型的材料，下游客户是否有华为、小米 等企业？ 董秘： 您好，三月科技综合技术研发中心暨新型光电材料高端生产基地，项目总投资5.3亿 ...

Core Viewpoint - The article highlights the significance of the 2026 Future Industries New Materials Expo (FINE2026), focusing on five common demands in future industries, including advanced semiconductors, advanced batteries, lightweight materials, low-carbon sustainability, and thermal management [1]. Group 1: Event Overview - FINE2026 will feature an advanced semiconductor exhibition area, showcasing next-generation semiconductors such as diamond, silicon carbide, and gallium oxide, along with crystal growth, ultra-precision processing, and advanced packaging [1][3]. - The expo is scheduled to take place from June 10 to June 12, 2026, and will host over 800 participating companies, 200 research institutions, and 30 thematic forums covering various sectors like robotics, low-altitude economy, consumer electronics, and aerospace [4]. Group 2: Company Developments - ShangSai (Huanggang) New Materials Co., Ltd., a subsidiary of Wuhan ShangSai Optoelectronics Technology Co., Ltd., specializes in the research, production, and sales of new OLED materials, including fluorescent and phosphorescent materials, and has established a stable supply chain with major manufacturers [2]. - On December 25, a new pilot project for a thousand-ton-level photoresist resin material and new optoelectronic materials commenced in Huanggang Chemical Industry Park, with a total planned investment of 500 million yuan [1].

近日， 尚赛光电、 影目科技 旗下项目先后宣布 开工/ 投产，涉及领域涵盖 OLED材料、 AR 。 OLED材料企业 尚赛光电 启动研发总部与生产基地建设 12月27日， 武汉尚赛光电科技有限公司在鄂州葛店经开区正式启动了研发总部及光学功能材料生 产基地项目。 尚赛光电成立于2011年，公司成功研发并量产了超过300种高纯有机电子材料， 累计申请知识产 权超百项，专利布局涵盖OLED材料、高低折材料等。 其OLED单体、光引发剂等核心产品纯度达 到99.99%，打破国外长期垄断，并进入三星、京东方等全球头部半导体供应链体系。 影目科技阵列光波导模组及整机产线投产 据悉， 影目科技自2020年成立以来，专注于轻量级AI+AR智能眼镜的研发。 目前，影目科技主 要有三大产品线，包括其自主研发的智能眼镜包括INMO AIR系列，聚焦轻办公+影音娱乐场景； INMO GO系列，聚焦翻译场景；INMOX系列，聚焦拍照场景。三个系列均拥有轻便的日常眼镜外 观及无线一体式设计。 今年7月，影目科技 完成 了 超1.5亿元B2轮融资，融资资金重点用于影目科技下一代产品研发、 AI核心能力建设、供应链纵深拓展以及线下体验场景 ...

随着英伟达Rubin平台等新一代AI算力架构量产临近，PCB产业链迎来材料升级与架构创新双重变革，Rubin架构的 Midplane和Rubin Ultra架构的正交背板已确定采用M9树脂+Q布（电子布）的解决方案，标志着Q布正式成为AI服务 器核心材料。 电子布供需缺口巨大，赛道红利持续释放 电子布市场需求呈爆发式增长。最新产业数据显示，2026年全球Q布需求将突破1800万米（仅Rubin系列就需约500 万米），而全球有效产能仅1500万米，供需缺口达300万米，缺口规模较此前进一步扩大。 缺口形成缘于两大核心因素：一方面，AI服务器、1.6T交换机等下游应用爆发式增长，直接带动高频高速覆铜板需 求激增。据Prismark预测，2024—2029年AI服务器核心的18层以上多层板复合增长率将达15.7%，成为PCB市场主要 驱动力，需求传导下电子布环节持续受益；另一方面，Q布生产技术壁垒极高，需使用纯度SiO₂≥99.95%的高纯石英 纤维，单条标准产线设备投资超5亿元，建设及调试周期长达24—36个月，难以快速扩产。当前全球能稳定量产的供 应商不超过10家，日本日东纺、信越化学等厂商占据70%—80% ...