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BOCI: Bottom recovery in basic chemicals, while petroleum and petrochemicals face slight pressure.
In the long term, the global market share and competitiveness of the chemical industry chain will continue to increase, maintaining an 'Outperform' rating for the sector.
Tongcheng New Materials (603650): Electronic Materials Business Maintains High Growth, Initiates H-Share Listing to Advance International Expansion
Summary of Events: In 2025, the company achieved operating revenue of 3.429 billion yuan, representing a year-on-year increase of 4.85%; net profit attributable to shareholders reached 563 million yuan, up 8.86% year-on-year; non-recurring net profit attributable to shareholders was 539 million yuan, reflecting a 29% year-on-year growth.
Express News | Tongcheng New Materials: Shareholder Yutong Investment plans to reduce its stake by no more than 1.86%.
Express News | The semiconductor materials sector opened actively with Yida Co., Ltd. and Baichuan Co., Ltd. both hitting the daily limit.
Shanghai Securities: Focusing on the AI computing power framework, upstream materials of 'chip inflation' combined with leading defensive strategies.
The new generation of AI server racks has fully adopted liquid cooling solutions, in line with the expectation of a comprehensive transition to liquid cooling.
Tongcheng New Materials (603650) 2025 Annual Report and 2026 Q1 Report Commentary: Rapid Growth Maintained in Electronic Chemicals; Proposed H-Share Listing to Advance International Expansion
Event 1: The company released its 2025 annual report. In 2025, the company achieved a revenue of 3.429 billion yuan, representing a year-on-year increase of 4.85%; net profit attributable to shareholders reached 563 million yuan, up 8.86% year-on-year; after deducting non-recurring items, the company achieved a net profit of...