Hydrofluoric acid business information disclosure violation! Duofudu receives regulatory letter from Shenzhen Stock Exchange

On the evening of August 4, the Shenzhen Stock Exchange issued a regulatory letter from the Company Department [2026] No. 97 to Do-Fluoride New Materials Co., Ltd. (002407), directly pointing out the company's violation of significant omissions in information disclosure, and requiring the company and all directors and senior executives to learn from the lesson and prevent the recurrence of similar incidents.

The regulatory letter stated that on June 26, 2026, Do-Fluoride published the "Record of Investor Relations Activities." The record disclosed that the company's existing capacity for semiconductor-grade hydrofluoric acid is 40,000 tons, with capacity utilization maintained at a high level, and market prices rose by approximately 20%-30%; electronic-grade hydrofluoric acid is a key material in semiconductor manufacturing that is "small in quantity but irreplaceable," providing good support for the company's profitability under the background of cost-driven price increases; meanwhile, it claimed that the self-developed G5-grade semiconductor-grade hydrofluoric acid has been stably supplied in bulk to top global logic and memory manufacturers such as TSMC, Samsung, Hua Hong, and CXMT.

Following the disclosure of the above content, the company's stock experienced abnormal trading fluctuations.

It was not until July 1 that the company issued an "Announcement on Abnormal Fluctuations in Stock Trading" to provide a supplementary explanation, stating that the sales revenue of semiconductor-grade hydrofluoric acid products accounted for a low proportion of operating revenue in the fiscal year 2025 and the first quarter of 2026, at less than 2%, and that this business would not have a significant impact on the company's performance.

The Shenzhen Stock Exchange determined that Do-Fluoride failed to prudently, objectively, and completely disclose in the "Record of Investor Relations Activities" the key information that semiconductor-grade hydrofluoric acid revenue accounts for a low proportion and has limited impact on performance, which is of significant importance to investors' value judgment and investment decisions. The information disclosure contained significant omissions, and this behavior violated the relevant provisions of the "Rules for Listing of Stocks (2026 Revision)."

The Shenzhen Stock Exchange reminded the company to strictly comply with laws and regulations such as the "Securities Law" and the "Company Law," and to fulfill information disclosure obligations truthfully, accurately, completely, timely, and fairly.

Company Overview

Do-Fluoride New Materials Co., Ltd. primarily operates four business segments: fluorine-based new materials, new energy materials, electronic information materials, and new energy batteries. Core products include lithium hexafluorophosphate, anhydrous aluminum fluoride, cryolite, electronic-grade hydrofluoric acid, and lithium batteries. The products are applied in fields such as electrolytic aluminum, new energy vehicles, and semiconductor integrated circuits. It is a global leading enterprise in fluoride salts and is deeply deploying in the lithium battery materials and semiconductor electronic chemicals tracks.

Secondary Market Performance

August 4 (Yesterday): Do-Fluoride closed at 31.36 yuan, up 4.50% on the day. The exchange issued the regulatory letter after the market closed.

August 5 (Today): As of the morning session, the company's share price was 30.02 yuan, a retreat from yesterday's closing price as the market reacted to the regulatory letter event. The total market capitalization is approximately 35.737 billion yuan.