Market Overview - The electronic chemicals sector increased by 0.16% on December 31, with Weiteou leading the gains [1] - The Shanghai Composite Index closed at 3968.84, up 0.09%, while the Shenzhen Component Index closed at 13525.02, down 0.58% [1] Stock Performance - Weiteou (301319) closed at 55.44, up 8.07% with a trading volume of 70,700 shares and a transaction value of 381 million yuan [1] - Xilong Science (002584) closed at 9.21, up 4.07% with a trading volume of 522,100 shares [1] - Guanggang Gas (688548) closed at 14.54, up 3.49% with a trading volume of 158,500 shares [1] - Other notable performers include Xingfu Electronics (688545) up 2.90%, Tiantong Co. (600330) up 2.82%, and Shanghai Xinyang (300236) up 2.67% [1] Fund Flow Analysis - The electronic chemicals sector experienced a net outflow of 14.58 million yuan from institutional investors, while retail investors saw a net outflow of 24.6 million yuan [2] - Conversely, speculative funds recorded a net inflow of 260 million yuan [2] Individual Stock Fund Flow - Shanghai Xinyang (300236) had a net inflow of 122 million yuan from institutional investors, while retail investors faced a net outflow of 198 million yuan [3] - Tiantong Co. (600330) saw a net inflow of 47.23 million yuan from institutional investors, with retail investors experiencing a net outflow of 48.61 million yuan [3] - Xilong Science (002584) had a net inflow of 43.47 million yuan from speculative funds, while retail investors faced a net outflow of 24.38 million yuan [3]

Investment Rating - The report initiates coverage with an "Accumulate" rating for the company [2][8] Core Insights - The company is a leading domestic CMP polishing liquid enterprise, continuously expanding its second growth curve through diversified product offerings [7][16] - The semiconductor industry is entering a prosperous cycle, with significant capacity expansion among wafer fabs, benefiting material suppliers [7][52] - The company maintains a strong focus on R&D and innovation, with a robust "3+1" technology platform that supports its core business in polishing liquids and expands into functional wet chemicals and electroplating solutions [7][8] Financial Data and Profit Forecast - Projected total revenue for 2024 is 1,835 million yuan, with a year-on-year growth rate of 48.2%. For 2025, the expected revenue is 2,506 million yuan, reflecting a growth rate of 36.6% [5] - The company's net profit attributable to shareholders is forecasted to be 534 million yuan in 2024, increasing to 811 million yuan in 2025, with a year-on-year growth rate of 52.1% [5] - The gross margin is expected to stabilize around 56.8% for 2025, with a return on equity (ROE) projected at 24.2% [5][8] Market Position and Growth Drivers - The company has achieved a global market share of over 10% in CMP polishing liquids, with significant growth in functional wet chemicals and electroplating solutions [7][8] - The demand for CMP polishing liquids is driven by advancements in integrated circuit technology, leading to increased usage and value of polishing materials [7][52] - The company is strategically positioned in the largest semiconductor material markets, namely Taiwan and mainland China, enhancing its competitive advantage [7][44] Product and Technology Development - The company has developed a comprehensive product matrix in CMP polishing liquids, functional wet chemicals, and electroplating solutions, catering to various semiconductor manufacturing processes [16][19] - Continuous R&D investment has led to a stable increase in the number of patents, with a focus on high-end differentiated products in the functional wet chemical segment [38][44] Future Outlook - The company is expected to see net profits of 8.11 billion yuan, 10.21 billion yuan, and 12.74 billion yuan from 2025 to 2027, with corresponding price-to-earnings ratios of 45, 36, and 29 [8][9] - The ongoing expansion of domestic semiconductor manufacturing capacity, particularly among leading firms, is anticipated to further benefit the company [52][56]

Group 1 - The core point of the news is that Anji Technology's stock price decreased by 1.16% to 213.70 CNY per share, with a trading volume of 1.23 billion CNY and a turnover rate of 0.33%, resulting in a total market capitalization of 36.02 billion CNY [1] - Anji Microelectronics Technology (Shanghai) Co., Ltd. is located in the Pudong New Area of Shanghai and was established on February 7, 2006, with its listing date on July 22, 2019. The company focuses on the research and industrialization of key semiconductor materials [1] - The main business revenue composition includes 81.48% from the sales of chemical mechanical polishing liquids, 18.14% from functional wet electronic chemicals, and 0.38% from other sources [1] Group 2 - From the perspective of the top ten holdings of funds, Huashan Fund has one fund heavily invested in Anji Technology. The Huashan CSI 1000 Index Enhanced A (015148) held 1,180 shares in the third quarter, accounting for 0.47% of the fund's net value, making it the second-largest holding [2] - The Huashan CSI 1000 Index Enhanced A (015148) was established on July 12, 2022, with a latest scale of 45.938 million CNY. Year-to-date returns are 28.89%, ranking 1,908 out of 4,189 in its category; the one-year return is 25.71%, ranking 1,975 out of 4,188; and since inception, the return is 10.65% [2] - The fund manager of Huashan CSI 1000 Index Enhanced A (015148) is Zhang Xu, who has a cumulative tenure of 5 years and 229 days, with total fund assets of 7.661 billion CNY. The best fund return during his tenure is 144.3%, while the worst is -7.07% [2]

Group 1 - The core viewpoint of the article highlights the strong performance of chip concept stocks in the A-share market, with significant gains observed in several companies [1] - Xinxiang Microelectronics saw an increase of over 12%, while Electric Science Chip reached a 10% limit up, indicating robust investor interest [1] - Other notable performers included Zhuosheng Microelectronics with a nearly 10% rise, Dongxin Co. with over 8%, and both Saiwei Electronics and Canxin Co. with gains exceeding 5% [1] Group 2 - The news also reports that SMIC (Semiconductor Manufacturing International Corporation) plans to issue shares worth 40.6 billion yuan to acquire a 49% stake in Zhongxin North, which is held by the National Integrated Circuit Fund and four other parties [1] - Upon completion of this transaction, SMIC will gain full control over this key 12-inch wafer foundry enterprise, enhancing its market position [1]

| | | 安集微电子科技（上海）股份有限公司 关于 2026 年度日常关联交易预计的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次2026年度日常关联交易预计事项尚需提交股东会审议。 日常关联交易对上市公司的影响：安集微电子科技（上海）股份有限公 司（以下简称"公司"）本次预计2026年度日常关联交易额度系为满足公司正常 生产经营需要，相关日常关联交易遵循公允、合理的原则，不存在损害公司及股 东利益的情形，不影响公司独立性，公司不会对关联人形成较大的依赖。 一、日常关联交易基本情况 （一）日常关联交易履行的审议程序 公司于 2025 年 12 月 23 日召开了 2025 年第三次独立董事专门会议，审议通 过《关于 2026 年度日常关联交易预计的议案》。独立董事专门会议认为：公司本 次预计 2026 年将要发生的关联交易为公司正常经营业务所需，属于正常商业行 为，遵守了自愿、等价、有偿的原则，定价公平合理，所发生的关联交易符合公 司的利益，不存在损害公司和其他股东利益的情况。公司独立董事专门会议 ...

安集微电子科技（上海）股份有限公司 2025 年第三次独立董事专门会议决议 安集微电子科技(上海)股份有限公司 2025 年第三次独立董事专门会议决议 一、会议召开情况 安集微电子科技(上海)股份有限公司(以下简称"公司")2025年第三次独 立董事专门会议于 2025 年 12 月 23 日以通讯表决的方式召开,本次会议应出席 独立董事3名,实际出席董事3名。本次会议的召集和召开程序、出席和列席会 议人员资格均符合《公司法》《公司章程》及《独立董事专门会议工作制度》的 有关规定。 二、会议审议情况 (一)审议通过《关于2026年度日常关联交易预计的议案》 经审阅,公司独立董事认为:公司本次预计2026年将要发生的关联交易为公 司正常经营业务所需,属于正常商业行为,遵守了自愿、等价、有偿的原则,定 价公平合理,所发生的关联交易符合公司的利益,不存在损害公司和其他股东利 益的情况。公司独立董事专门会议同意将《关于2026年度日常关联交易预计的议 案》提交公司董事会审议。 表决结果:同意3票，反对0票，弃权0票。 特此决议。 (本页以下无正文) 安集微电子科技（上海）股份有限公司 2025 年第三次独立荒事专门会 ...

证券代码：688019 证券简称：安集科技 公告编号：2025-071 债券代码：118054 债券简称：安集转债 安集微电子科技（上海）股份有限公司 关于召开2026年第一次临时股东会的通知 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 一、 召开会议的基本情况 （一） 股东会类型和届次 2026年第一次临时股东会 （四） 现场会议召开的日期、时间和地点 召开日期时间：2026 年 1 月 15 日 14 点 30 分 召开地点：上海市浦东新区华东路 5001 号金桥综合保税区 T6-5 一楼公司会 议室 （五） 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2026 年 1 月 15 日 至2026 年 1 月 15 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00；通过 股东会召开日期：2026年1月15日 本次股东会采用的网 ...

申万宏源证券承销保荐有限责任公司 关于安集微电子科技（上海）股份有限公司 2026年度日常关联交易预计的核查意见 申万宏源证券承销保荐有限责任公司（以下简称"保荐机构"）作为安集 微电子科技（上海）股份有限公司（以下简称"公司"、"安集科技"） 以简 易程序向特定对象发行股票项目和向不特定对象发行可转换公司债券项目的保 荐机构，根据《中华人民共和国公司法》《中华人民共和国证券法》《证券发行 上市保荐业务管理办法》《上海证券交易所科创板股票上市规则》等有关规定， 对安集科技2026年度日常关联交易预计的情况进行了核查，具体情况如下： 一、日常关联交易基本情况 （一）日常关联交易履行的审议程序 公司于 2025 年 12 月 23 日召开了 2025 年第三次独立董事专门会议，审议通 过《关于 2026 年度日常关联交易预计的议案》。独立董事专门会议认为：公司 本次预计 2026 年将要发生的关联交易为公司正常经营业务所需，属于正常商业 行为，遵守了自愿、等价、有偿的原则，定价公平合理，所发生的关联交易符合 公司的利益，不存在损害公司和其他股东利益的情况。公司独立董事专门会议同 意将《关于 2026 年度日常关联 ...

Group 1 - A total of 26 companies were investigated by institutions on December 25, with 18 of them being attended by funds [1] - Anji Technology received the most attention, with 7 funds participating in its investigation [1] - Aerospace Intelligence and Robot Technology were also notable, with 4 and 3 funds respectively conducting investigations [1] Group 2 - Among the companies investigated, 5 are from the Shenzhen Main Board, 9 from the ChiNext, 1 from the Shanghai Main Board, and 3 from the Sci-Tech Innovation Board [1] - The companies span 13 different industries, with the most represented sectors being power equipment, electronics, machinery, construction decoration, and automotive, each having 2 stocks listed [1] Group 3 - Of the companies investigated, 9 have a total market capitalization of less than 10 billion, including Huablu Group, Zhang Xiaoqin, and Changlan Technology [1] - In terms of market performance, 16 stocks among the investigated companies increased in value over the past 5 days, with notable gains from Xinke Mobile, Robot Technology, and Aerospace Intelligence, showing increases of 22.90%, 18.97%, and 16.79% respectively [1] - Conversely, 2 stocks experienced declines, with Shengda Resources and Yanjing Beer dropping by 4.72% and 2.06% respectively [1] Group 4 - In terms of net capital inflow over the past 5 days, 7 stocks saw positive inflows, with Robot Technology leading at 607 million, followed by Aerospace Intelligence and Xinke Mobile with inflows of 231 million and 110 million respectively [2] - A detailed list of companies investigated includes Anji Technology, Aerospace Intelligence, Shengda Resources, and others, along with their respective fund participation, latest closing prices, and 5-day price changes [2]

Core Viewpoint - Anji Technology has shown significant stock performance with a year-to-date increase of 107.71% and a market capitalization of 37.42 billion yuan as of December 24 [1]. Group 1: Stock Performance and Market Activity - On December 24, Anji Technology's stock rose by 2.05%, reaching 222.00 yuan per share, with a trading volume of 461 million yuan and a turnover rate of 1.25% [1]. - The stock has increased by 9.39% over the last five trading days, 15.22% over the last 20 days, and 13.68% over the last 60 days [1]. - The net outflow of main funds was 1.82 million yuan, with large orders accounting for 26.89% of purchases and 27.82% of sales [1]. Group 2: Financial Performance - For the period from January to September 2025, Anji Technology reported a revenue of 1.812 billion yuan, representing a year-on-year growth of 38.09%, and a net profit attributable to shareholders of 608 million yuan, up 54.96% year-on-year [2]. - Cumulative cash dividends since the A-share listing amount to 178 million yuan, with 125 million yuan distributed over the past three years [3]. Group 3: Shareholder and Institutional Holdings - As of September 30, 2025, the number of shareholders increased by 48.24% to 16,800, while the average circulating shares per person decreased by 32.30% to 10,037 shares [2]. - The second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 18.796 million shares, an increase of 6.0729 million shares from the previous period [3]. - New institutional shareholders include the Guotai CSI Semiconductor Materials and Equipment Theme ETF, holding 1.219 million shares [3].