Core Insights - The recent selection of three private enterprise scientists as academicians of the Chinese Academy of Engineering signals a shift in China's technological innovation from academia to market-oriented applications, indicating a more pragmatic approach to resource allocation in technology [1][2][3] - The inclusion of these scientists, such as Lian Yubo from BYD and Wu Kai from CATL, highlights the significant contributions of private enterprises in key technological breakthroughs and the commercialization of innovations [1][2] Group 1: Recognition of Private Enterprises - The election of these academicians reflects the recognition of private enterprises' contributions to new productive forces, with statistics showing that private enterprises account for 70% of national technological innovation achievements and 80% of specialized "little giant" companies [2][3] - The new academicians are not only top scientists but also practical innovators who can transform technology into products, showcasing the importance of private enterprises in driving technological advancements [2][3] Group 2: Evolution of China's Innovation System - The addition of industry practitioners to the academician ranks indicates a shift in China's research evaluation criteria, moving from a focus on publications to valuing technological and industrial contributions [3] - The honor of being an academician serves as a form of "technical certification" for private enterprises, motivating their research and innovation personnel to strive for excellence [3] - The trend suggests that as private enterprises continue to innovate, more researchers from these backgrounds may achieve academician status, fostering a positive cycle of market-oriented research and high-quality economic development [3]

Core Insights - The article emphasizes the rapid growth and potential of polylactic acid (PLA) biodegradable plastics as a sustainable alternative to traditional petroleum-based plastics, driven by global green initiatives and domestic policies in China [1][7][10]. Industry Overview - PLA is derived from renewable plant resources, such as corn and cassava, through fermentation to produce lactic acid, which is then polymerized into biodegradable polyester [2][3]. - PLA offers advantages over traditional plastics, including lower carbon emissions, good biocompatibility, and adaptability to various applications like packaging and medical devices [5][6]. Market Dynamics - The global biodegradable plastics market is projected to grow significantly, with production capacity expected to reach approximately 573 million tons by 2029, reflecting a compound annual growth rate (CAGR) of over 18% [8][10]. - In China, the biodegradable materials market is anticipated to reach 29.9 billion yuan in 2024, with a year-on-year growth of 29.59%, and is expected to exceed 48 billion yuan by 2025 [10][11]. Competitive Landscape - Leading domestic companies such as Fengyuan Group, Haizheng Biomaterials, and Jindan Technology are actively expanding their production capacities and integrating the supply chain from raw materials to PLA production [11][12]. - International players like NatureWorks and TotalCorbion are also establishing a presence in China, creating a differentiated competitive landscape [11]. Future Trends - The PLA industry is expected to focus on overcoming technical barriers, enhancing product performance, and expanding into high-value applications such as medical materials and engineering plastics [13][14]. - There is a strong emphasis on building a sustainable circular economy, utilizing non-food biomass resources, and improving recycling technologies to align with carbon neutrality goals [15].

Core Viewpoint - The company has provided guarantees for its wholly-owned subsidiaries to support their financing needs, which aligns with the company's overall development strategy and does not pose risks to its operations [22]. Group 1: Guarantee Details - On November 24, 2025, the company signed a maximum guarantee contract with China Export-Import Bank Guangdong Branch, providing a joint liability guarantee for Guangdong Jinfat Technology Co., Ltd. with a maximum debt amount of RMB 440 million [1]. - The company also signed a maximum guarantee contract with Guangfa Bank Qingyuan Branch, providing a joint liability guarantee for Guangdong Jinfat with a maximum principal balance of RMB 90 million [1]. - Additionally, the company's subsidiary Zhuhai Jinfat Biomaterials Co., Ltd. signed a maximum guarantee contract with Zheshang Bank Shenyang Branch, providing a joint liability guarantee for Liaoning Jinfat Biomaterials Co., Ltd. with a maximum principal balance of RMB 50 million [2]. Group 2: Internal Decision-Making Process - The company held board meetings on April 18, 2025, and May 20, 2025, to approve the guarantee limits for subsidiaries, allowing for a guarantee limit of RMB 3.5 billion for Guangdong Jinfat and RMB 1 billion for Zhuhai Biomaterials [4]. - The total guarantee balance for Guangdong Jinfat after this guarantee will be RMB 1.573 billion, with a remaining available guarantee limit of RMB 1.926 billion [4]. - The total guarantee balance for Zhuhai Biomaterials after this guarantee will be RMB 579.67 million, with a remaining available guarantee limit of RMB 420.32 million [4]. Group 3: Credit Status of Guaranteed Entities - Both Guangdong Jinfat and Liaoning Jinfat Biomaterials are wholly-owned subsidiaries of the company, and their credit status is good, not classified as dishonest executors [3][6]. Group 4: Guarantee Agreement Main Content - The guarantee provided by the company is unconditional and irrevocable, covering all debts under the main contracts, including principal, interest, penalties, and other fees [8][9]. - The guarantee period for each main contract is calculated separately, lasting three years from the due date of the guaranteed debts [10][19]. Group 5: Necessity and Reasonableness of the Guarantee - The guarantees are deemed necessary to support the business development and operational needs of the subsidiaries, aligning with the company's overall interests and development strategy [21]. - The company maintains effective management over its subsidiaries, allowing it to monitor their credit status and performance capabilities, thus controlling guarantee risks [21]. Group 6: Total External Guarantees - As of November 24, 2025, the total external guarantees provided by the company and its subsidiaries amount to RMB 23.22 billion, representing 129.27% of the audited net assets attributable to shareholders of the listed company, with no overdue guarantees reported [22].

证券代码：600143 证券简称：金发科技 公告编号：2025-094 金发科技股份有限公司 关于为全资子公司提供担保的进展公告 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： 担保对象及基本情况 | | 被担保人名称 | | 广东金发科技有限公司 | | | --- | --- | --- | --- | --- | | | 本次新增担保金额 | 人民币 | 53,000.00 | 万元 | | 担保对象 | 实际为其提供的担保余额 | 104,330.65 | 万元 | | | | 是否在前期预计额度内 | 是 | □否 | □不适用：_________ | | | 本次担保是否有反担保 | □是 | 否 | □不适用：_________ | | 担保对象 | 被担保人名称 | | 辽宁金发生物材料有限公司 | | | | 本次新增担保金额 | 人民币 | 5,000.00 | 万元 | | | 实际为其提供的担保余额 | 52,967.28 | 万元 | | | | 是否在前期预计额度内 | 是 | ...

Core Viewpoint - The recent election of 144 experts as academicians in China emphasizes the importance of talent in driving innovation and highlights the increasing recognition of private enterprise contributions to national strategic needs [2][4]. Group 1: Election of Academicians - The 2025 election of academicians particularly favors frontline scientific and engineering personnel, with a notable inclusion of three experts from private enterprises: Wu Kai from CATL, Lian Yubo from BYD, and Huang Xianbo from Jinfat [2][4]. - This year's addition of three private enterprise experts marks the highest number of private academicians elected in a single session, reflecting a significant shift in the composition of the academic community [4][5]. Group 2: Contribution of Private Enterprises - Private enterprises account for over 92% of all companies in China and contribute more than 70% of technological innovations, including over 80% of the "little giant" enterprises and over 92% of national high-tech enterprises [6]. - The election results indicate a growing importance of private sector innovation in the national innovation system, showcasing a shift from traditional reliance on universities and research institutions [5][6]. Group 3: Profiles of Newly Elected Academicians - Wu Kai has made significant advancements in high-performance power battery technology, leading innovations in key materials and manufacturing processes [9]. - Lian Yubo has focused on the development of electric vehicles and core systems, contributing to the rapid growth of the industry [9]. - Huang Xianbo specializes in the research and commercialization of environmentally friendly materials, playing a crucial role in the development of high-performance polymers [9]. Group 4: Implications for Future Innovation - The election of these academicians from private enterprises sends a strong signal that scientific research and innovation can thrive within the private sector, potentially attracting more top talent to these companies [9]. - The increased recognition of private enterprise contributions to academia is expected to enhance the appeal of these companies to top-tier talent, fostering the emergence of more world-class private enterprises [9].

Core Viewpoint - The increasing global competition in technology necessitates the cultivation of leading private technology enterprises and continuous emergence of technological leaders in China [1] Group 1: Recognition of Private Enterprises - Three leaders from private enterprises were elected as academicians of the Chinese Academy of Engineering, highlighting the recognition of their contributions to technology innovation [1][2] - Private enterprises contribute 70% of the country's technological innovation results and encompass 80% of the national specialized "little giant" enterprises, establishing themselves as key players in technological innovation [1] Group 2: Research and Development Advantages - The elected academicians specialize in fields such as artificial intelligence, new energy, semiconductors, and biomedicine, which are crucial for high-quality development [2] - Private enterprises possess advantages in seamlessly linking theoretical design, experimental products, and market-ready products, making their research value and market value hard to match by traditional research institutions [2] Group 3: Policy and System Changes - The decision to break the "public over private" resource allocation pattern reflects a commitment to building a collaborative research and innovation system between public and private sectors [3] - The recent guidelines for the election of academicians indicate a shift towards supporting candidates from private technology enterprises, demonstrating ongoing institutional innovation in the research evaluation system [3] Group 4: Future Expectations and Support - The implementation of the Private Economy Promotion Law emphasizes the state's encouragement and support for private enterprises in driving technological innovation and developing modern industrial systems [4] - To foster more technological leaders from private enterprises, it is essential to strengthen their role in technological innovation and industrial development [4] Group 5: Collaborative Efforts - There is a need for enhanced "two-way openness" between private enterprises and traditional research institutions, with policies supporting capable private enterprises in undertaking major national technological tasks [6] - The newly elected academicians have both research institution experience and achievements in private enterprises, indicating a model for future collaboration [6] Group 6: Long-term Goals - The election of academicians is just a stage; the focus should be on achieving breakthroughs in deeper fields, with continued efforts required to implement specific support measures for private enterprise technological innovation [7]

Core Points - Three experts from private enterprises, including Wu Kai from CATL, Lian Yubo from BYD, and Huang Xianbo from Jinfat Technology, have been elected as academicians of the Chinese Academy of Engineering, highlighting the innovation capabilities of China's private sector [1][2][3] - The Chinese Academy of Engineering has introduced special quotas for private enterprise candidates in its 2025 academician election, indicating a policy shift to support private sector contributions to technological innovation [1][2] - The number of national high-tech enterprises in China has surged from 28,000 in 2012 to over 420,000 by January 2023, with private enterprises now accounting for over 92% of this total, reflecting the growing importance of the private sector in the national economy [2] Group 1 - The election of private enterprise experts as academicians signifies a breakthrough in the traditional academician selection process, which has historically favored public institutions [1][3] - The research areas of the newly elected academicians are closely related to new productive forces, including high-performance batteries, new energy vehicles, and advanced materials [3] - The Chinese government has been actively promoting policies to enhance the role of private enterprises in technological innovation, including the recent Private Economy Promotion Law [2][3] Group 2 - The focus on private enterprise candidates in the academician election reflects a broader strategy to foster innovation in key industries such as artificial intelligence, new energy, semiconductors, and biomedicine [2][3] - The successful election of these experts is expected to optimize the structure of the academician community and inject new vitality into China's technological innovation landscape [1][2] - The recognition of private sector contributions to science and technology is seen as a crucial step in enhancing China's competitiveness in the global technology arena [2][3]

Core Viewpoint - The recent election of three experts from private enterprises as academicians by the Chinese Academy of Engineering highlights the growing strength of China's private sector in technological innovation and its increasing recognition by the state [1][2]. Group 1: Election of Academicians - Three experts from leading private technology companies, including Wu Kai from CATL, Lian Yubo from BYD, and Huang Xianbo from Jinfat, have been elected as academicians, marking a significant achievement for private enterprises in China [1][3]. - The new policy by the Chinese Academy of Engineering to allocate special slots for private enterprise candidates reflects a shift in recognizing the contributions of private sector talent in the scientific community [1][2]. Group 2: Growth of Private Enterprises - As of January 2023, the number of national high-tech enterprises has surged from 28,000 in 2012 to over 420,000, with the proportion of private enterprises increasing from 62.4% to over 92% [2]. - The Chinese government has been actively supporting private enterprises in taking on major national technological challenges and has opened up significant research infrastructure to them [2]. Group 3: Focus on Key Industries - The elected academicians are involved in critical fields such as high-performance battery technology, new energy vehicles, and advanced materials, indicating a strong focus on sectors that drive new productive forces in China [3]. - The emphasis on private sector contributions in areas like artificial intelligence, new energy, semiconductors, and biomedicine underscores the importance of these industries in China's economic strategy [2].

Core Points - The Chinese Academy of Sciences and the Chinese Academy of Engineering announced the results of the 2025 academician election, with three experts from private enterprises being elected as academicians, marking a significant shift in representation from traditional academic institutions to industry leaders in the new energy vehicle sector [1] Group 1: Academicians from Private Enterprises - Lian Yubo from BYD, Wu Kai from CATL, and Huang Xianbo from Kingfa Technology were elected as academicians, highlighting the increasing recognition of contributions from private sector experts in engineering [1] - This election marks the first time that leaders from the new energy vehicle industry have been elected as academicians, breaking the previous norm where academicians predominantly came from universities and research institutions [1] Group 2: Profiles of Elected Academicians - Lian Yubo, born in 1964, is a senior engineer and has been instrumental in developing over 20 models and 100 variants of fuel and new energy vehicles at BYD since joining in 2004, contributing to the company's sales of 4.27 million vehicles [2][3] - Wu Kai, born in 1968, is the chief scientist at CATL and has led innovations in lithium-ion battery technology, achieving breakthroughs that have allowed for the domestic production of high-performance batteries, surpassing Japanese and Korean competitors [5][7] - Huang Xianbo, with a PhD in applied chemistry, has focused on high-performance materials for automotive applications and has contributed significantly to the development of functional polymer materials in China [8] Group 3: Significance of the Election - The election of these academicians reflects a broader trend of integrating industry expertise into the academic and research community, which is crucial for driving innovation and economic transformation in China [10] - The recognition of private sector contributions to science and technology is expected to enhance the collaboration between academia and industry, fostering a more robust innovation ecosystem [10]

Group 1 - Three experts from private enterprises were elected as academicians of the Chinese Academy of Engineering, including Lian Yubo from BYD, Huang Xianbo from Kingfa Technology, and Wu Kai from CATL [1][4][8] - Lian Yubo, the chief scientist and automotive chief engineer at BYD, has led the development of over 20 fuel and new energy vehicle models, contributing to BYD's strong position in the new energy vehicle sales rankings since 2016 [2][4] - Huang Xianbo, the chief technology officer at Kingfa Technology, has focused on high-performance automotive materials and has contributed significantly to the development of functional polymer materials in China [5][4] Group 2 - Wu Kai, who has served as the chief scientist at CATL, has a background in electrochemical energy storage technology and continues to lead research in this area after resigning from his position as vice president [8][9] - Kingfa Technology operates 64 subsidiaries and has established R&D and production bases in regions such as South Asia, North America, and Europe, providing services to over 1,000 well-known enterprises globally [5][7] - BYD's core technologies, including blade batteries and DM hybrid technology, are attributed to Lian Yubo's leadership and innovation efforts [2][4]