来源：上海证券报·中国证券网 上证报中国证券网讯（记者 刘立）近日，方大新材全资子公司方大（惠州）新材料有限公司（以下简 称"惠州方大"）历经4个月的筹备，正式开机试产。方大新材表示，惠州方大是公司深耕华南市场的战 略落子，其将为方大新材华南市场助力新产能。 来源：上海证券报·中国证券网 上证报中国证券网讯（记者 刘立）近日，方大新材全资子公司方大（惠州）新材料有限公司（以下简 称"惠州方大"）历经4个月的筹备，正式开机试产。方大新材表示，惠州方大是公司深耕华南市场的战 略落子，其将为方大新材华南市场助力新产能。 方大新材公司始创于2003年，是首批北交所上市公司。公司是国内较早专注于物流、快递包装的综合性 制造商和供应商之一。现已拥有不干胶材料、可变信息标签、背胶袋等系列产品，其中背胶袋产品为国 内规模较大的生产商和出口商。 方大新材公司始创于2003年，是首批北交所上市公司。公司是国内较早专注于物流、快递包装的综合性 制造商和供应商之一。现已拥有不干胶材料、可变信息标签、背胶袋等系列产品，其中背胶袋产品为国 内规模较大的生产商和出口商。 ...

Group 1 - The core viewpoint of the article highlights the growth in the printing and recording media replication industry in China, with an increase in the number of enterprises in this sector [1] - As of January to October 2025, there are 7,106 enterprises in the printing and recording media replication industry, which is an increase of 126 enterprises compared to the same period last year, representing a year-on-year growth of 1.81% [1] - The printing and recording media replication industry accounts for 1.36% of the total industrial enterprises in China [1] Group 2 - The report referenced is the "2026-2032 China Printing Industry Market Special Survey and Investment Prospect Analysis Report" published by Zhiyan Consulting [1] - Zhiyan Consulting is recognized as a leading industry consulting firm in China, providing in-depth industry research reports, business plans, feasibility studies, and customized services [1] - The firm emphasizes its commitment to delivering comprehensive industry solutions to empower investment decisions through professional insights and quality services [1]

Core Insights - The report highlights the growth in the printing and recording media reproduction industry in China, with the number of enterprises increasing by 138 to a total of 7,097, representing a year-on-year growth of 1.98% as of January to September 2025 [1] Industry Overview - The printing and recording media reproduction industry now accounts for 1.36% of the total industrial enterprises in China [1] - The threshold for scale enterprises has been raised from an annual main business income of 5 million to 20 million yuan since 2011, indicating a shift in industry standards [1] Market Research - The report titled "2026-2032 China Printing Industry Market Special Survey and Investment Prospects Analysis Report" was published by Zhiyan Consulting, a leading industry consulting firm in China [1] - Zhiyan Consulting has been dedicated to industry research for over a decade, providing comprehensive industry research reports, business plans, feasibility studies, and customized services [1]

Summary of Key Points Core Viewpoint - Fangda New Materials (920163) experienced a significant block trade on October 14, with a transaction volume of 2 million shares at a price of 11.42 yuan, representing a discount of 29.24% compared to the closing price of 16.14 yuan on the same day [2]. Group 1: Transaction Details - The block trade involved a total volume of 2 million shares and a transaction amount of 22.84 million yuan [2]. - The transaction price of 11.42 yuan was significantly lower than the closing price, indicating a notable discount [2]. - The buyer was Huatai Securities Co., Ltd., specifically the Shenzhen Caitian Road Securities Business Department, while the seller was Zhongtai Securities Co., Ltd., from the Shenzhen Jixiang Road Securities Business Department [2]. Group 2: Market Performance - On the day of the block trade, Fangda New Materials' stock closed at 16.14 yuan, down 1.04% with a trading volume of 1.03% and a total transaction amount of 10.42 million yuan [2]. - Over the past five days, the stock has seen a cumulative decline of 3.35% [2].

Core Viewpoint - A significant block trade occurred for Fangda New Materials (stock code: 920163) on October 14, 2025, with a notable discount on the transaction price compared to the closing price [1] Group 1: Transaction Details - The block trade involved 2 million shares at a price of 11.42 yuan per share, totaling 22.84 million yuan [1] - The transaction price represented a discount of 29.24% from the closing price of 16.14 yuan [1] - The buying brokerage was Huatai Securities Co., Ltd., while the selling brokerage was Zhongtai Securities Co., Ltd. [1]

Core Viewpoint - The environmental adhesive industry in China is experiencing significant growth driven by government policies, increasing demand for eco-friendly products, and technological advancements in production processes [1][5][16]. Group 1: Industry Overview - Environmental adhesives are made from natural, renewable, or low-toxicity materials, featuring low VOC, formaldehyde-free, and biodegradable characteristics [2][5]. - The market for adhesives is expected to grow steadily during the 14th Five-Year Plan period, with production projected to reach approximately 8.55 million tons and consumption around 7.56 million tons by 2024 [1][10]. - The industry is witnessing a shift towards high-performance, low-carbon, and intelligent upgrades, with water-based adhesives developing rapidly [1][16]. Group 2: Policy Background - A series of policies have been introduced in China to promote the green transformation of the environmental adhesive industry, including the "14th Five-Year" energy conservation and emission reduction plan, which sets specific reduction targets for solvent-based adhesives [5][7]. - The regulatory framework aims to cover the entire production, application, and emission processes, establishing a solid foundation for high-quality industry development [5][7]. Group 3: Industry Chain Analysis - The upstream of the environmental adhesive industry is centered around basic chemical raw material manufacturers, while the midstream involves the production processes, and the downstream applications span various sectors, including construction, packaging, and electronics [8][10]. - The demand for high-performance environmental adhesives is rapidly increasing in emerging industries such as new energy vehicles and photovoltaics [8][10]. Group 4: Current Market Status - The adhesive industry in China is projected to maintain an average annual growth rate of 4.2% in production and 4.3% in sales during the 14th Five-Year Plan period [10][14]. - Despite maintaining production growth, the industry faces challenges such as market demand shrinkage and severe product homogeneity, leading to a decline in sales revenue [14][16]. Group 5: Competitive Landscape - The competitive landscape of the environmental adhesive industry is characterized by a clear stratification, with international giants holding high-end markets and local leaders rapidly expanding their market share in mid-tier segments [20][22]. - Local companies are focusing on breakthroughs in bio-based materials and intelligent production lines to overcome technological bottlenecks [20][22]. Group 6: Development Trends - The industry is moving towards technological innovation, with a focus on water-based, bio-based, and intelligent production technologies to enhance product performance and meet high-end market demands [24][25]. - The demand for environmental adhesives is expected to shift towards high-end and green products, driven by policies and market needs in sectors like new energy vehicles and green buildings [25][26]. - The industry is anticipated to see increased concentration, with leading companies expanding their capabilities through vertical integration and horizontal expansion into high-value sectors [26].

Core Insights - The company reported a revenue of 421,957,104.20 yuan for the first half of 2025, reflecting a year-on-year growth of 27.96% [2] - The net profit attributable to shareholders decreased to 19,709,833.44 yuan, marking a year-on-year decline of 25.56% [2] Financial Performance - Revenue for the first half of 2025: 421.96 million yuan, up 27.96% year-on-year [2] - Net profit for the same period: 19.71 million yuan, down 25.56% year-on-year [2]

Group 1 - The company announced the appointment of Ms. Chen Qing as the representative for securities affairs [1]

Core Viewpoint - Fangda New Materials announced the nomination of Tian Xingsheng as a core employee of the company [2] Summary by Categories - **Company Announcement** - Fangda New Materials released an announcement on the evening of August 18, stating the nomination of Tian Xingsheng as a core employee [2]

Core Points - The company announced that it will hold its first employee representative assembly on August 14, 2025, to discuss the election of employee representative directors [2] Summary by Category Company Announcement - The company will convene the first employee representative assembly on August 14, 2025 [2] - The assembly will review the proposal regarding the election of employee representative directors [2]