证券日报网讯 9月25日晚间，福莱新材发布公告称，公司已于2025年9月23日在中国证券登记结算有限 责任公司上海分公司办理完成公司2025年限制性股票激励计划的首次授予登记工作。限制性股票登记 日：2025年9月23日；限制性股票登记数量：219.00万股。 （编辑 任世碧） ...

Investment Rating - The report assigns an "Accumulate" rating for the company for the first time [3]. Core Insights - The company is a leading domestic functional coating composite materials provider, transitioning from a single coating material supplier to an integrated solution provider encompassing base films, coatings, and end products [7][12]. - The company has successfully developed high-performance flexible sensor materials, marking a shift from traditional industries to technology sectors, and is actively expanding into the water-based environmentally friendly packaging field [7][12]. - The flexible sensor market is projected to grow significantly, with an expected compound annual growth rate (CAGR) of 18% from 2022 to 2029, indicating a robust demand for electronic skin in humanoid robots [7][33][42]. Financial Summary - The company achieved a revenue of 25.4 billion yuan in 2024, with a year-on-year growth of 19%, and a compound annual growth rate (CAGR) of 15% over the past five years [22][28]. - The net profit attributable to shareholders for 2024 was 1.4 billion yuan, reflecting a 98% increase year-on-year, with a CAGR of 6% from 2019 to 2024 [28][22]. - Revenue projections for 2025-2027 are 30.5 billion yuan, 35.6 billion yuan, and 40.7 billion yuan, with year-on-year growth rates of 20%, 17%, and 14% respectively [52][57]. Business Transformation - The company is integrating its supply chain from upstream base films and adhesives to downstream coating processes, enhancing its competitive advantage [12][18]. - The establishment of a North American subsidiary aims to expand its global strategy, focusing on sales and technical support for tactile sensing products [50]. Product Development - The company has launched two generations of flexible tactile sensor products, emphasizing features such as true flexibility, full surface coverage, and three-dimensional force sensing [45][46]. - The flexible sensor technology is being applied in various fields, including humanoid robots, consumer electronics, and industrial detection, showcasing a diverse product matrix [43][7]. Market Potential - The humanoid robot market is expected to see significant growth, with a projected demand of approximately 2.03 million units by 2030 in the manufacturing and domestic service sectors, representing a market space exceeding 300 billion yuan [33][42]. - The flexible tactile sensor market is anticipated to reach a scale of 5.322 billion USD by 2029, indicating a strong growth trajectory [42].

1 限制性股票登记日：2025 年 9 月 23 日 限制性股票登记数量：219.00 万股 | 证券代码：605488 证券简称：福莱新材 | 公告编号：临 2025-132 | | --- | --- | | 债券代码：111012 债券简称：福新转债 | | 浙江福莱新材料股份有限公司 2025 年限制性股票激励计划首次授予结果公告 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： 根据《上市公司股权激励管理办法》（以下简称"《管理办法》"）、按照上海 证券交易所、中国证券登记结算有限责任公司上海分公司的有关要求，浙江福莱 新材料股份有限公司（以下简称"公司"）已于 2025 年 9 月 23 日在中国证券登记 结算有限责任公司上海分公司（以下简称"登记结算公司"）办理完成公司 2025 年限制性股票激励计划（以下简称"本次激励计划"、"本激励计划"）的首次授予 登记工作，现将相关事项公告如下： 一、限制性股票授予情况 公司于 2025 年 7 月 31 日召开第三届董事会第十四次会议，审议通过了《关 于向 ...

Core Insights - The company, Folei New Materials, recently held an investor relations event where foreign institutions showed interest in its second-generation electronic skin products and North American business strategy [1][2]. Group 1: Technology Advancements - The second-generation flexible tactile sensors have achieved significant breakthroughs in materials, structure, and perception dimensions, featuring "true flexibility," "full curvature," and "three-dimensional force" capabilities [2]. - The sensors are made from highly stretchable and bendable materials, allowing them to conform closely to complex surfaces of robotic hands, enhancing motion flexibility and providing comprehensive tactile perception [2]. - The introduction of deep learning algorithms has improved the accuracy and real-time recognition of object materials, shapes, and surface characteristics, establishing a technological foundation for robots to transition from merely executing commands to perceiving their environment [3]. Group 2: North American Market Strategy - Folei New Materials has established a wholly-owned subsidiary, Apex Sensing LLC, in San Francisco, aimed at providing tactile sensing solutions and technical support tailored to the North American market [4]. - The establishment of Apex Sensing is a key move in advancing the company's globalization strategy, enabling a more agile response to local customer needs and shortening delivery times [4]. - The company has appointed a former vice president of Syntouch to lead North American operations and has formed a specialized business team to deepen connections with international robotics companies, emphasizing the higher technical requirements and algorithm focus of foreign clients compared to domestic ones [4].

Core Insights - Zhejiang Fulai New Materials Co., Ltd. (referred to as "Fulai New Materials") held a joint research meeting with several international investment banks, including Bank of America and Merrill Lynch, to discuss the company's core technologies, business progress, and future plans [2][3] - The company highlighted significant breakthroughs in its second-generation flexible tactile sensors, emphasizing their competitive advantages over the first generation, which include "true flexibility," "full curvature," and "three-dimensional force" capabilities [2][3] Technology and Product Development - The second-generation flexible tactile sensors have achieved three critical breakthroughs in material selection, structural design, and perception dimensions, allowing for better integration with complex robotic structures [2] - The sensors utilize highly stretchable and bendable materials, enabling them to conform closely to the surfaces of robotic hands, thus enhancing the flexibility of robotic movements [2] - The new sensors can detect both vertical pressure and multi-directional shear forces, providing robots with richer tactile feedback [2][3] Algorithm and Innovation - To enhance perception accuracy and real-time capabilities, the company has engaged a team of deep learning algorithm experts, significantly improving the sensor's ability to recognize material properties, shapes, and surface characteristics [3] - The collaboration between algorithms and hardware has led to advancements in measurement resolution and spatial resolution, positioning the company's flexible electronic skin at an internationally advanced level [3] Market Strategy and Future Outlook - Fulai New Materials has established partnerships with several leading domestic and international robotics companies, successfully commercializing its flexible sensors in various practical applications [3] - The company plans to continue monitoring global trends in robotics and intelligent sensing, focusing on product iteration and business expansion through a dual approach of "technology + market" to strengthen its global competitiveness in the flexible tactile sensor field [3]

Core Insights - The establishment of Apex Sensing LLC in San Francisco marks a significant step in the company's globalization strategy, focusing on the North American market for tactile sensing products [1] - The new subsidiary aims to enhance local partnerships by providing agile supply chain support and customized solutions, thereby improving delivery times and after-sales response efficiency [1] - North America is identified as a key market for humanoid robot innovation, and the company intends to deepen its collaboration with local clients to accelerate the integration of flexible sensing technology into the regional industry [1] Company Strategy - Apex Sensing LLC will leverage core technologies in flexible sensing to drive sales, technical support, and customer service in North America [1] - The company plans to increase R&D investment to continuously optimize product structure and performance, facilitating the effective integration of advanced tactile sensing technology with local applications [1] - The goal is to support the transition of the North American robotics industry from demonstration to practical application, fostering the large-scale implementation and commercialization of embodied intelligence technology [1]

Core Viewpoint - The company is making significant technological advancements in flexible sensor products and is actively collaborating with various domestic and international companies in the fields of dexterous hands and humanoid robots [1] Group 1: Technological Advancements - The company has achieved multiple breakthroughs in the technology of flexible sensors [1] - Continuous updates in technology are being implemented to enhance product offerings [1] Group 2: Strategic Collaborations - The company is working with several domestic and international partners, particularly in the dexterous hand and humanoid robot sectors [1] - Foreign clients have higher technical requirements and place greater emphasis on algorithms [1] Group 3: Business Development - Flexible sensors and tactile perception systems are identified as the company's second growth curve [1] - In 2023, these technologies have been formally integrated into the company's strategic development direction, expanding applications from health monitoring to robotics and industrial inspection [1]

登录新浪财经APP 搜索【信披】查看更多考评等级 本次变更前后公司股本结构情况如下： ■ 注：因公司尚处于可转债转股期，本次变动前的股本数采用2025年9月21日的股本结构。具体股本结构 变动的最终情况以中国证券登记结算有限责任公司上海分公司出具的股本结构表为准。 目前，公司正在中国证券登记结算有限责任公司上海分公司办理本次激励计划所涉激励对象的限制性股 票登记过户手续，并将在办理完成后及时履行信息披露义务。 特此公告。 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。 根据浙江福莱新材料股份有限公司（以下简称"公司"）2025年第二次临时股东大会授权，公司于2025年 7月31日召开第三届董事会第十四次会议，审议通过了《关于向2025年限制性股票激励计划激励对象首 次授予限制性股票的议案》，同意确定2025年7月31日为首次授予日，向符合授予条件的103名激励对象 授予219.00万股限制性股票，授予价格为人民币15.64元/股。具体内容详见公司于2025年8月1日披露在 上海证券交易所网站（www.sse.com.cn）的《 ...

Group 1 - The core point of the article highlights the recent decline in the stock price of Fulei New Materials, which dropped by 5.1% to 38.34 CNY per share, with a trading volume of 761 million CNY and a turnover rate of 6.85%, resulting in a total market capitalization of 10.743 billion CNY [1] - Fulei New Materials, established on June 8, 2009, and listed on May 13, 2021, specializes in the research, production, and sales of functional coating composite materials. The main revenue composition includes: advertising inkjet printing materials (46.65%), label printing materials (31.42%), other materials (9.17%), functional base film materials (6.94%), electronic-grade functional materials (3.95%), and others (1.86%) [1] Group 2 - From the perspective of fund holdings, only one fund under Dacheng Fund has a significant position in Fulei New Materials. The Dacheng Value Pioneer Flexible Allocation A (011030) held 29,100 shares in the second quarter, accounting for 3.84% of the fund's net value, ranking as the fifth-largest holding. The estimated floating loss today is approximately 59,900 CNY [2] - The Dacheng Value Pioneer Flexible Allocation A (011030) was established on May 19, 2021, with a latest scale of 12.2106 million CNY. Year-to-date returns are 41.22%, ranking 1694 out of 8172 in its category; the one-year return is 49.14%, ranking 3316 out of 7995; and since inception, it has a loss of 11.95% [2] Group 3 - The fund managers of Dacheng Value Pioneer Flexible Allocation A (011030) are Wu Haoyang and Chen Ran. As of the report, Wu Haoyang has a cumulative tenure of 1 year and 13 days, with total fund assets of 160 million CNY, achieving a best return of 48.06% and a worst return of 11.02% during his tenure. Chen Ran has a cumulative tenure of 275 days, with total fund assets of 397 million CNY, achieving a best return of 46.56% and a worst return of 2.85% during his tenure [3]

Core Insights - Zhejiang Fulai New Materials Co., Ltd. has established a wholly-owned subsidiary, Apex Sensing LLC, in San Francisco, California, on September 21, 2025, to enhance its presence in the North American market for tactile sensing products [2] - The establishment of Apex Sensing LLC is a strategic move to strengthen local partnerships, gain insights into regional demands, and accelerate the integration of flexible sensing technology with North American industrial processes [2] - The company aims to provide agile supply chain support and customized solutions to local partners, thereby improving delivery times and after-sales response efficiency, facilitating the transition of the North American robotics industry from demonstration to practical application [2]