524 lines
36 KiB
HTML
524 lines
36 KiB
HTML
<!DOCTYPE html>
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<html lang="zh-CN" data-theme="dark">
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<head>
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<meta charset="UTF-8">
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<meta name="viewport" content="width=device-width, initial-scale=1.0">
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<title>深度行研报告：电子特气六氟化钨 (WF6)</title>
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<script src="https://cdn.tailwindcss.com"></script>
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<link href="https://cdn.jsdelivr.net/npm/daisyui@4.10.1/dist/full.min.css" rel="stylesheet" type="text/css" />
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<script defer src="https://cdn.jsdelivr.net/npm/alpinejs@3.x.x/dist/cdn.min.js"></script>
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<script src="https://cdn.jsdelivr.net/npm/echarts@5.5.0/dist/echarts.min.js"></script>
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<style>
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@import url('https://fonts.googleapis.com/css2?family=Noto+Sans+SC:wght@300;400;500;700&display=swap');
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body {
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font-family: 'Noto Sans SC', sans-serif;
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background-color: #020617;
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background-image:
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radial-gradient(circle at 10% 20%, rgba(58, 12, 163, 0.2), transparent 40%),
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radial-gradient(circle at 80% 90%, rgba(0, 100, 148, 0.2), transparent 40%),
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radial-gradient(circle at 50% 50%, rgba(13, 13, 31, 0.8), transparent 70%);
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background-attachment: fixed;
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min-height: 100vh;
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}
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.glass-card {
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background-color: rgba(15, 23, 42, 0.6);
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backdrop-filter: blur(16px) saturate(180%);
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-webkit-backdrop-filter: blur(16px) saturate(180%);
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border: 1px solid rgba(255, 255, 255, 0.08);
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border-radius: 1.5rem; /* 极致圆角 */
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transition: all 0.3s ease;
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}
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transform: translateY(-5px);
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box-shadow: 0 20px 30px rgba(0, 0, 0, 0.2), 0 0 40px rgba(58, 12, 163, 0.3);
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}
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.bento-grid {
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display: grid;
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gap: 1.5rem;
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grid-template-columns: repeat(12, 1fr);
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}
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.glow-border::before {
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content: '';
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position: absolute;
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top: 0;
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left: 0;
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right: 0;
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bottom: 0;
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border-radius: 1.5rem;
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padding: 1px;
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background: linear-gradient(145deg, rgba(0, 194, 255, 0.2), rgba(168, 85, 247, 0.2));
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-webkit-mask:
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linear-gradient(#fff 0 0) content-box,
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linear-gradient(#fff 0 0);
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-webkit-mask-composite: xor;
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mask-composite: exclude;
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pointer-events: none;
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}
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h1, h2, h3 {
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text-shadow: 0 0 10px rgba(168, 85, 247, 0.3), 0 0 20px rgba(0, 194, 255, 0.3);
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}
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.table thead th, .table tbody td {
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background-color: transparent !important;
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border-bottom-width: 1px;
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border-bottom-color: rgba(255, 255, 255, 0.1) !important;
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}
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</style>
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</head>
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<body class="text-slate-300 antialiased">
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<div class="container mx-auto p-4 sm:p-6 lg:p-8">
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<!-- Header -->
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<header class="text-center mb-12">
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<h1 class="text-4xl md:text-5xl font-bold text-white mb-4">深度行研报告：电子特气六氟化钨 (WF6)</h1>
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<p class="text-slate-400">北京价值前沿科技有限公司 AI投研agent：“价小前投研” 呈现</p>
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<p class="text-xs text-slate-500 mt-2">本报告为AI基于指定数据合成，观点仅供参考，投资需谨慎。</p>
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</header>
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<!-- Bento Grid Layout for Insight -->
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<main class="bento-grid">
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<!-- 0. Concept Event -->
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<section class="glass-card p-6 md:p-8 col-span-12 relative glow-border">
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<h2 class="text-2xl font-bold text-sky-300 mb-4">核心概念事件：供需失衡引爆价格周期</h2>
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<div class="space-y-3 text-slate-300 text-base">
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<p>六氟化钨（WF6）作为半导体先进制程中的关键沉积气体，其市场格局在近期经历了一系列高强度事件的催化，形成了完整的<strong class="text-amber-400">“供给收缩 + 成本推升 + 需求刚性 → 价格暴涨”</strong>的逻辑链条。</p>
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<ul class="list-disc list-inside space-y-2 pl-2">
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<li><strong class="text-white">供给端冲击 (2024.08.07):</strong> 日本重要制造商<span class="font-semibold text-red-400">关东电化</span>涩川工厂（1400吨/年产能）发生爆炸，直接导致全球供给出现显著缺口。</li>
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<li><strong class="text-white">成本端推升 (2025 Q3-Q4):</strong> 上游原材料<span class="font-semibold text-red-400">钨粉</span>价格年内从20+万元/吨涨至40+万元/吨，几乎翻倍，直接侵蚀生产商毛利。</li>
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<li><strong class="text-white">价格端引爆 (2025年末):</strong> 在双重压力下，韩国SK Specialty、厚城等海外大厂向三星、海力士等传达了次年供应单价<span class="font-semibold text-green-400">大幅上调70%-90%</span>的立场，引爆市场关注。</li>
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<li><strong class="text-white">国内厂商响应 (2025.10):</strong> 国内龙头<span class="font-semibold text-green-400">中船特气</span>已对代理商提价10%，并给出2026年长协价“保守涨幅50%以上”的明确指引。</li>
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</ul>
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</div>
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</section>
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<!-- 1. Core View Summary -->
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<section class="glass-card p-6 col-span-12 md:col-span-4 row-span-2">
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<h3 class="text-xl font-bold text-purple-300 mb-4">核心观点摘要</h3>
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<p class="text-slate-300">六氟化钨概念正处于由<strong class="text-white">供给侧突发事件</strong>和<strong class="text-white">成本周期性上涨</strong>共同引爆的强景气周期起点。</p>
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<p class="mt-4">核心驱动力是<strong class="text-amber-400">全球供给缺口</strong>与<strong class="text-amber-400">先进制程需求刚性</strong>之间的尖锐矛盾，这赋予了具备产能、技术和成本优势的国内龙头企业前所未有的<strong class="text-green-400">定价权</strong>和<strong class="text-green-400">利润弹性</strong>。</p>
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<p class="mt-4">赛道已从主题炒作阶段过渡到<strong class="text-white">基本面驱动</strong>的业绩兑现阶段。</p>
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</section>
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<!-- 2. Core Logic & Market Perception -->
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<section class="glass-card p-6 col-span-12 md:col-span-8 row-span-3">
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<h3 class="text-xl font-bold text-purple-300 mb-4">概念的核心逻辑与市场认知分析</h3>
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<div x-data="{ tab: 'logic' }">
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<div class="tabs tabs-boxed bg-slate-900/50 mb-4">
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<a class="tab" :class="{'tab-active': tab === 'logic'}" @click.prevent="tab = 'logic'">核心驱动力</a>
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<a class="tab" :class="{'tab-active': tab === 'diff'}" @click.prevent="tab = 'diff'">预期差分析</a>
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</div>
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<div x-show="tab === 'logic'" class="space-y-4">
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<div>
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<h4 class="font-semibold text-sky-400">1. 供给端刚性收缩</h4>
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<p class="text-sm text-slate-400 mt-1">日本关东电化1400吨产能意外退出，叠加海外对手无扩产计划，瞬间打破全球供需平衡。研报预测2025年全球将现供应缺口，爆炸事件加剧并提前了这一进程。</p>
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</div>
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<div>
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<h4 class="font-semibold text-sky-400">2. 需求端刚性增长</h4>
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<p class="text-sm text-slate-400 mt-1">WF6是3nm/5nm先进制程关键材料，与AI芯片、3D NAND、DRAM等高增长领域资本开支挂钩。下游客户认证周期长（2-3年）、转换成本高，对价格敏感度远低于供应稳定性。</p>
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</div>
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<div>
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<h4 class="font-semibold text-sky-400">3. 成本向上游传导顺畅</h4>
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<p class="text-sm text-slate-400 mt-1">供需格局反转，生产商获得将上游钨粉成本上涨完全甚至超额传导的能力。年度锁价的长协机制，使生产商在原材料价格回落时可保留溢价利润，议价能力极强。</p>
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</div>
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</div>
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<div x-show="tab === 'diff'" class="space-y-4">
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<div>
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<h4 class="font-semibold text-amber-400">1. 龙头地位的认知差</h4>
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<p class="text-sm text-slate-400 mt-1">市场普遍认知中船特气为“全球第一”，但数据存在矛盾（全球市占率30% vs 70%，海外渗透率不足5%）。<strong class="text-white">批判性解读：</strong>其更可能是<strong class="text-white">产能规模全球第一</strong>，但在全球实际供应份额上尚未垄断。这既是风险，也意味着其海外市场存在<strong class="text-white">巨大增长空间</strong>。</p>
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</div>
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<div>
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<h4 class="font-semibold text-amber-400">2. 技术壁垒的认知差</h4>
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<p class="text-sm text-slate-400 mt-1">市场可能混淆了不同纯度等级的WF6。服务于<strong class="text-white">先进制程的6N级超纯WF6</strong>仍存在极高的技术和客户认证壁垒，而普通纯度产品竞争激烈。市场忽略了<strong class="text-white">产品结构高端化</strong>带来的核心竞争力。</p>
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</div>
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<div>
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<h4 class="font-semibold text-amber-400">3. 潜在风险的忽视</h4>
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<p class="text-sm text-slate-400 mt-1">市场情绪高涨，可能忽视了路演中提及的“美国对含氟气体出口限制”导致中船特气<strong class="text-red-400">2024年出口订单减少15%</strong>的明确风险信号。</p>
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</div>
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</div>
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</div>
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</section>
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<!-- 3. Key Catalysts -->
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<section class="glass-card p-6 col-span-12 md:col-span-4">
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<h3 class="text-xl font-bold text-purple-300 mb-4">关键催化剂与发展路径</h3>
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<h4 class="font-semibold text-sky-400 mb-2">近期催化剂 (未来3-6个月)</h4>
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<ul class="list-disc list-inside space-y-1 text-sm text-slate-400 mb-4">
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<li>2026年度长协价格签订（预计2025年底）。</li>
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<li>企业季度财报验证价格上涨对利润的拉动。</li>
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<li>国内其他厂商是否跟进大幅提价。</li>
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</ul>
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<h4 class="font-semibold text-sky-400 mb-2">长期发展路径</h4>
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<ul class="list-disc list-inside space-y-1 text-sm text-slate-400">
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<li><strong class="text-white">国产替代深化 (1-2年):</strong> 加速在国内晶圆厂的份额提升。</li>
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<li><strong class="text-white">全球份额扩张 (2-3年):</strong> 凭借成本和供应优势抢占海外市场。</li>
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<li><strong class="text-white">格局重塑与稳定 (3-5年):</strong> 龙头企业巩固地位，行业集中度提升。</li>
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</ul>
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</section>
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<!-- 4. WF6 Capacity Chart -->
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<section class="glass-card p-6 col-span-12 md:col-span-6">
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<h3 class="text-xl font-bold text-purple-300 mb-4">国内主要厂商六氟化钨(WF6)产能对比</h3>
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<div id="capacityChart" class="w-full h-64"></div>
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</section>
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<!-- 5. Risks -->
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<section class="glass-card p-6 col-span-12 md:col-span-6">
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<h3 class="text-xl font-bold text-red-400 mb-4">潜在风险与挑战</h3>
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<ul class="list-disc list-inside space-y-2 text-sm text-slate-400">
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<li><strong class="text-white">技术风险：</strong>追赶者在6N超纯WF6稳定量产方面仍存瓶颈。</li>
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<li><strong class="text-white">商业化风险：</strong>价格可能因供给恢复或需求不及预期而回调。</li>
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<li><strong class="text-white">政策与竞争风险：</strong>地缘政治（出口限制）是最大不确定性；高利润可能引发未来恶性竞争。</li>
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<li><strong class="text-white">信息交叉验证风险：</strong>各信源关于产能、市占率的数据存在显著差异，需审慎对待。</li>
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</ul>
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</section>
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<!-- 6. Industry Chain -->
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<section class="glass-card p-6 col-span-12">
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<h3 class="text-xl font-bold text-purple-300 mb-4">产业链图谱与核心公司剖析</h3>
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<!-- Chain Viz -->
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<div class="flex flex-col md:flex-row items-center justify-around text-center mb-6">
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<div class="flex-1 p-4 m-2 rounded-xl bg-slate-900/50">
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<h4 class="font-bold text-sky-300">上游</h4>
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<p class="text-sm">钨矿开采与冶炼<br>(钨精矿、钨粉)</p>
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<p class="text-xs mt-1 text-slate-400">代表: 中钨高新</p>
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</div>
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<div class="text-2xl text-slate-500 mx-4">→</div>
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<div class="flex-1 p-4 m-2 rounded-xl bg-purple-900/30 ring-2 ring-purple-500">
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<h4 class="font-bold text-purple-300">中游 (核心环节)</h4>
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<p class="text-sm">高纯六氟化钨气体生产与纯化</p>
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<p class="text-xs mt-1 text-slate-400">代表: 中船特气、昊华科技等</p>
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</div>
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<div class="text-2xl text-slate-500 mx-4">→</div>
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<div class="flex-1 p-4 m-2 rounded-xl bg-slate-900/50">
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<h4 class="font-bold text-green-300">下游</h4>
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<p class="text-sm">半导体制造商 (晶圆厂)<br>显示面板制造商</p>
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<p class="text-xs mt-1 text-slate-400">代表: 中芯国际、台积电、京东方</p>
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</div>
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</div>
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<!-- Company Comparison Table -->
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<div class="overflow-x-auto">
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<table class="table w-full text-sm">
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<thead>
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<tr class="text-slate-300">
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<th>公司</th>
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<th>产能 (吨/年)</th>
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<th>竞争优势</th>
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<th>业务进展与逻辑纯度</th>
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<th>潜在风险</th>
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</tr>
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</thead>
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<tbody>
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<tr>
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<td class="font-bold text-white">中船特气 (688146)</td>
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<td>~2230</td>
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<td>产能全球第一、服务3nm/5nm、客户覆盖全球顶级晶圆厂</td>
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<td class="text-green-400">逻辑最纯粹的核心标的，直接受益于量价齐升</td>
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<td class="text-red-400">出口受限风险，市场份额数据矛盾，预期过高</td>
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</tr>
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<tr>
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<td class="font-bold text-white">昊华科技 (600378)</td>
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<td>600-700</td>
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<td>国内特气头部企业，产品线丰富</td>
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<td>重要参与者，受益行业景气，但WF6业务占比可能不高</td>
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<td>扩张计划不明，先进制程客户渗透情况不如龙头</td>
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</tr>
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<tr>
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<td class="font-bold text-white">中巨芯 (688549)</td>
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<td>600</td>
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<td>业务聚焦电子化学材料，协同性强</td>
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<td>第二梯队核心成员，受益行业beta</td>
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<td>公开信息相对较少</td>
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</tr>
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<tr>
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<td class="font-bold text-white">和远气体 (002971)</td>
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<td>500</td>
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<td>区域性气体公司，向电子特气扩张</td>
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<td>新进入者，能分享行业红利</td>
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<td class="text-red-400">客户认证和技术稳定性需时间验证</td>
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</tr>
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</tbody>
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</table>
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</div>
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</section>
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<!-- 7. Supporting Data -->
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<section class="glass-card p-6 col-span-12" x-data="{ activeTab: 'news' }">
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<h3 class="text-xl font-bold text-purple-300 mb-4">核心数据支撑</h3>
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<div class="tabs tabs-boxed bg-slate-900/50 mb-4">
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<a class="tab text-sm" :class="{ 'tab-active': activeTab === 'news' }" @click.prevent="activeTab = 'news'">新闻数据</a>
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<a class="tab text-sm" :class="{ 'tab-active': activeTab === 'roadshow' }" @click.prevent="activeTab = 'roadshow'">路演纪要</a>
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<a class="tab text-sm" :class="{ 'tab-active': activeTab === 'report' }" @click.prevent="activeTab = 'report'">研报精粹</a>
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</div>
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<div x-show="activeTab === 'news'" class="space-y-4 text-sm max-h-96 overflow-y-auto pr-2">
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<div class="p-4 rounded-lg bg-slate-900/50">
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<h4 class="font-semibold text-sky-400">市场动态与价格趋势</h4>
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<ul class="list-disc list-inside mt-2 text-slate-400 space-y-1">
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<li><strong>海外大幅提价：</strong>韩媒消息，SK Specialty、厚城、关东电化等主要WF6制造商通知三星、SK海力士等，从明年起将供应单价<strong class="text-white">提高70%至90%</strong>。原因是钨价五个月内翻了一番。</li>
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<li><strong>国内影响预期：</strong>中船特气被认为将重视后续涨价弹性，不仅可覆盖原材料涨价，吨净利有望大幅提升。预计将首先修复与海外的30%价差。</li>
|
||
</ul>
|
||
</div>
|
||
<div class="p-4 rounded-lg bg-slate-900/50">
|
||
<h4 class="font-semibold text-sky-400">相关企业信息与产能</h4>
|
||
<ul class="list-disc list-inside mt-2 text-slate-400 space-y-1">
|
||
<li><strong>中船特气：</strong>拥有<strong class="text-white">2230吨</strong>六氟化钨产能，排名全球第一，是国内最大的生产企业。</li>
|
||
<li><strong>昊华科技：</strong>拥有<strong class="text-white">600吨</strong>六氟化钨产能。</li>
|
||
<li><strong>广钢气体：</strong>实现六氟化钨规模化生产和稳定供应，打破此前依赖进口的局面。</li>
|
||
</ul>
|
||
</div>
|
||
<div class="p-4 rounded-lg bg-slate-900/50">
|
||
<h4 class="font-semibold text-sky-400">供应链事件</h4>
|
||
<ul class="list-disc list-inside mt-2 text-slate-400">
|
||
<li><strong>日本关东电化工厂爆炸：</strong>8月7日，其涩川工厂（六氟化钨产能<strong class="text-white">1400吨</strong>）发生爆炸，生产受阻，是本轮供给冲击的核心事件。</li>
|
||
</ul>
|
||
</div>
|
||
</div>
|
||
|
||
<div x-show="activeTab === 'roadshow'" class="space-y-4 text-sm max-h-96 overflow-y-auto pr-2">
|
||
<div class="p-4 rounded-lg bg-slate-900/50">
|
||
<h4 class="font-semibold text-sky-400">中船特气 (关键信息)</h4>
|
||
<ul class="list-disc list-inside mt-2 text-slate-400 space-y-1">
|
||
<li><strong>市场地位：</strong>六氟化钨全球第一产能，服务于<strong class="text-white">3nm制程</strong>。全球市占率约30%，国内领先但海外渗透率不足5%。</li>
|
||
<li><strong>价格策略 (2025.10):</strong> 已对代理商<strong class="text-white">提价10%</strong>；2026年长协指引“保守涨幅50%以上”。若钨粉价回落，可保留溢价利润。</li>
|
||
<li><strong>需求展望：</strong>AI芯片、3D NAND、DRAM扩产带动，境外对手无扩产计划，供需缺口扩大。</li>
|
||
</ul>
|
||
</div>
|
||
<div class="p-4 rounded-lg bg-slate-900/50">
|
||
<h4 class="font-semibold text-sky-400">南大光电 & 广钢气体</h4>
|
||
<ul class="list-disc list-inside mt-2 text-slate-400 space-y-1">
|
||
<li><strong>南大光电：</strong>被描述为“六氟化钨龙头”，技术优势显著，但也有纪要称其将WF6归为“壁垒较低”的大宗特气。</li>
|
||
<li><strong>广钢气体：</strong>电子大宗气体龙头，三氟化氮、六氟化钨占比较高。</li>
|
||
</ul>
|
||
</div>
|
||
<div class="p-4 rounded-lg bg-slate-900/50">
|
||
<h4 class="font-semibold text-sky-400">国产化与风险</h4>
|
||
<ul class="list-disc list-inside mt-2 text-slate-400 space-y-1">
|
||
<li><strong>国产化进程：</strong>三氟化氮、六氟化钨等大单品渗透加速，2023年国产化率实际为18%。</li>
|
||
<li><strong>风险提示：</strong>美国对含氟气体出口限制可能影响出货，如中船特气2024年出口订单<strong class="text-white">减少15%</strong>。</li>
|
||
</ul>
|
||
</div>
|
||
</div>
|
||
|
||
<div x-show="activeTab === 'report'" class="space-y-4 text-sm max-h-96 overflow-y-auto pr-2">
|
||
<div class="p-4 rounded-lg bg-slate-900/50">
|
||
<h4 class="font-semibold text-sky-400">市场规模与格局</h4>
|
||
<ul class="list-disc list-inside mt-2 text-slate-400 space-y-1">
|
||
<li><strong>全球市场规模：</strong>2021年为<strong class="text-white">3.35亿美元</strong>，占电子特气市场总规模的8%。</li>
|
||
<li><strong>竞争格局：</strong>传统上由法国液空、德国林德、日本关东电化等海外巨头主导。</li>
|
||
</ul>
|
||
</div>
|
||
<div class="p-4 rounded-lg bg-slate-900/50">
|
||
<h4 class="font-semibold text-sky-400">供需预测 (TECHCET数据)</h4>
|
||
<ul class="list-disc list-inside mt-2 text-slate-400 space-y-1">
|
||
<li><strong>供需缺口：</strong>预计到2025年全球将面临供给缺口。</li>
|
||
<li><strong>具体数据：</strong>预计2025年全球总需求<strong class="text-white">8,901吨</strong>，而总供给约<strong class="text-white">8,512吨</strong>。</li>
|
||
</ul>
|
||
</div>
|
||
<div class="p-4 rounded-lg bg-slate-900/50">
|
||
<h4 class="font-semibold text-sky-400">技术与应用</h4>
|
||
<ul class="list-disc list-inside mt-2 text-slate-400 space-y-1">
|
||
<li><strong>核心应用：</strong>主要用于集成电路制造的CVD工艺，形成钨导体膜作为互连线。</li>
|
||
<li><strong>技术壁垒：</strong>纯度需≥5N（99.999%），客户认证周期长达<strong class="text-white">2-3年</strong>，客户黏性强。</li>
|
||
<li><strong>国内技术突破：</strong>中船特气已实现<strong class="text-white">6N超纯六氟化钨</strong>稳定量产，进入5nm制程供应链。</li>
|
||
</ul>
|
||
</div>
|
||
</div>
|
||
</section>
|
||
|
||
<!-- 8. Stock Data Conclusion -->
|
||
<section class="col-span-12 mt-8">
|
||
<h2 class="text-3xl font-bold text-white mb-6 text-center">相关概念股票池</h2>
|
||
|
||
<!-- WF6 Stocks -->
|
||
<div class="glass-card p-6 mb-8">
|
||
<h3 class="text-xl font-bold text-purple-300 mb-4">核心标的：六氟化钨 (WF6) 生产商</h3>
|
||
<div class="overflow-x-auto">
|
||
<table class="table w-full">
|
||
<thead><tr><th>股票名称</th><th>股票代码</th><th>核心逻辑</th></tr></thead>
|
||
<tbody>
|
||
<tr>
|
||
<td>中船特气</td>
|
||
<td><a href="https://valuefrontier.cn/company?scode=688146" target="_blank" class="link link-hover text-sky-400">688146</a></td>
|
||
<td>产能2000吨/年；公司六氟化钨全球覆盖率70.31%，绝对龙头。</td>
|
||
</tr>
|
||
<tr>
|
||
<td>昊华科技</td>
|
||
<td><a href="https://valuefrontier.cn/company?scode=600378" target="_blank" class="link link-hover text-sky-400">600378</a></td>
|
||
<td>产能600吨/年，国内特气头部企业。</td>
|
||
</tr>
|
||
<tr>
|
||
<td>中巨芯</td>
|
||
<td><a href="https://valuefrontier.cn/company?scode=688549" target="_blank" class="link link-hover text-sky-400">688549</a></td>
|
||
<td>产能600吨/年，聚焦电子化学材料。</td>
|
||
</tr>
|
||
<tr>
|
||
<td>和远气体</td>
|
||
<td><a href="https://valuefrontier.cn/company?scode=002971" target="_blank" class="link link-hover text-sky-400">002971</a></td>
|
||
<td>拥有1套年产500吨六氟化钨生产装置。</td>
|
||
</tr>
|
||
<tr>
|
||
<td>至纯科技</td>
|
||
<td><a href="https://valuefrontier.cn/company?scode=603690" target="_blank" class="link link-hover text-sky-400">603690</a></td>
|
||
<td>子公司南通至纯经营范围包括六氟化钨。</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- Upstream & Other e-gases -->
|
||
<div class="glass-card p-6 mb-8">
|
||
<h3 class="text-xl font-bold text-purple-300 mb-4">产业链及其他电子特气相关标的</h3>
|
||
<div class="overflow-x-auto">
|
||
<table class="table w-full">
|
||
<thead><tr><th>股票名称</th><th>股票代码</th><th>核心逻辑</th><th>其他标签</th></tr></thead>
|
||
<tbody>
|
||
<tr>
|
||
<td>中钨高新</td>
|
||
<td><a href="https://valuefrontier.cn/company?scode=000657" target="_blank" class="link link-hover text-sky-400">000657</a></td>
|
||
<td>钨行业龙头，上游原材料钨粉价格上涨核心受益者。</td>
|
||
<td class="badge badge-outline badge-accent">上游原料</td>
|
||
</tr>
|
||
<tr>
|
||
<td>南大光电</td>
|
||
<td><a href="https://valuefrontier.cn/company?scode=300346" target="_blank" class="link link-hover text-sky-400">300346</a></td>
|
||
<td>三氟化氮产能8300吨/年，研报规划500吨WF6产能。</td>
|
||
<td class="badge badge-outline">三氟化氮</td>
|
||
</tr>
|
||
<tr>
|
||
<td>华特气体</td>
|
||
<td><a href="https://valuefrontier.cn/company?scode=688268" target="_blank" class="link link-hover text-sky-400">688268</a></td>
|
||
<td>国内特气国产化先行者，产品供应14nm及以下先进制程。</td>
|
||
<td class="badge badge-outline">其他</td>
|
||
</tr>
|
||
<tr>
|
||
<td>广钢气体</td>
|
||
<td><a href="https://valuefrontier.cn/company?scode=688548" target="_blank" class="link link-hover text-sky-400">688548</a></td>
|
||
<td>深耕电子大宗气体，筹建3000吨三氟化氮项目。</td>
|
||
<td class="badge badge-outline">三氟化氮</td>
|
||
</tr>
|
||
<tr>
|
||
<td>雅克科技</td>
|
||
<td><a href="https://valuefrontier.cn/company?scode=002409" target="_blank" class="link link-hover text-sky-400">002409</a></td>
|
||
<td>高纯四氟化碳与六氟化硫龙头。</td>
|
||
<td class="badge badge-outline">其他</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
<!-- Rise Analysis -->
|
||
<div class="glass-card p-6">
|
||
<h3 class="text-xl font-bold text-amber-300 mb-4">近期市场异动分析补充</h3>
|
||
<div class="space-y-4">
|
||
<div class="collapse collapse-plus bg-slate-900/50">
|
||
<input type="radio" name="rise-accordion" checked="checked" />
|
||
<div class="collapse-title text-lg font-medium text-white">
|
||
中钨高新 (000657) <span class="text-sm text-slate-400 ml-2">2025-10-30 上涨 5.05%</span>
|
||
</div>
|
||
<div class="collapse-content text-sm text-slate-400">
|
||
<p><strong>核心结论：</strong>本次上涨是<strong class="text-white">传统主业“钨”行业基本面反转</strong>，叠加市场赋予其与<strong class="text-white">AI算力、半导体（六氟化钨）等高景气赛道融合的新增长预期</strong>，在多重利好共振下形成的强劲上涨。</p>
|
||
<p class="mt-2"><strong>驱动逻辑：</strong><br>1. <strong>钨价进入牛市：</strong>黑钨精矿价格较年初上涨101.4%，供给紧张是核心驱动。<br>2. <strong>政策提升战略价值：</strong>商务部公告强化钨的战略稀有金属地位，提升板块估值。<br>3. <strong>AI产业链绑定：</strong>AI服务器对PCB要求提升，增加其子公司PCB微钻材料需求；市场强烈预期其具备布局高附加值钨基电子特气（六氟化钨）的能力。</p>
|
||
</div>
|
||
</div>
|
||
<div class="collapse collapse-plus bg-slate-900/50">
|
||
<input type="radio" name="rise-accordion" />
|
||
<div class="collapse-title text-lg font-medium text-white">
|
||
巍华新材 (603310) <span class="text-sm text-slate-400 ml-2">2025-08-06 上涨 10.0%</span>
|
||
</div>
|
||
<div class="collapse-content text-sm text-slate-400">
|
||
<p><strong>核心结论：</strong>受益于三氟化氮（NF₃）景气度。日本关东电化爆炸致NF₃全球供给收缩，现货价跳涨，公司与全球头部存储厂签3年期长单，锁定未来产能与利润，叠加限售股解禁前股东承诺不减持，提振市场信心。</p>
|
||
</div>
|
||
</div>
|
||
<div class="collapse collapse-plus bg-slate-900/50">
|
||
<input type="radio" name="rise-accordion" />
|
||
<div class="collapse-title text-lg font-medium text-white">
|
||
永太科技 (002326) <span class="text-sm text-slate-400 ml-2">2025-09-08 上涨 10.03%</span>
|
||
</div>
|
||
<div class="collapse-content text-sm text-slate-400">
|
||
<p><strong>核心结论：</strong>工信部发布氟化工供给侧改革征求意见稿，明确2026年起不再新增非高端氟化产能，鼓励含氟电子化学品。公司现有高端含氟电子化学品产能（六氟磷酸锂、LiFSI）直接受益，新增产能稀缺性凸显。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</section>
|
||
</main>
|
||
|
||
<!-- Footer -->
|
||
<footer class="text-center mt-12 py-6 border-t border-slate-800">
|
||
<p class="text-sm text-slate-500">北京价值前沿科技有限公司 | AI驱动的深度投研</p>
|
||
<p class="text-xs text-slate-600 mt-1">数据生成时间: 2024-05-21 | 版本: 1.0.0</p>
|
||
</footer>
|
||
</div>
|
||
|
||
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|
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