经济观察网 根据截至2026年2月24日的数据，康达新材（002669.SZ）当日股价上涨4.13%，报收14.87 元，盘中最高触及14.88元，成交额1.02亿元，换手率2.28%。其上涨主要受以下因素驱动： 板块变化情况 当日基础化工板块整体上涨2.22%，新材料板块涨幅达2.08%，行业景气度回升形成板块效应。券商中 国指出，化工行业供给端收缩及反内卷政策推动龙头个股普涨，分散染料等细分领域价格连续上调，市 场对化工板块预期改善。 最近业绩情况 公司于2026年1月20日发布业绩预告，预计2025年净利润1.25亿–1.35亿元，同比扭亏为盈（2024年亏损 2.46亿元），增幅达150.78%–154.84%。业绩增长主要受益于风电行业景气度上升，风电环氧树脂胶销 量显著增加，叠加公司资产质量优化。这一预期在近期市场中对股价形成支撑。 公司最新估值 尽管公司2025年业绩预增，但当前市盈率（TTM）为负值，市净率1.66倍低于行业平均水平，存在估值 修复空间。机构预测2025年净利润同比增速46.35%，营收增速12.12%，基本面改善预期逐步兑现。 未来发展 康达新材今日上涨是板块情绪、业绩预增、 ...

Core Viewpoint - The article discusses the investment by Kangda New Materials in a new project to produce 30,000 tons per year of Polyarylether (PAE), aiming to enhance its position in the high-value segment of the new materials industry [2]. Investment Project Details - The total investment for the PAE project is approximately 645.74 million RMB, with construction costs of 591.94 million RMB, interest during construction of 16.60 million RMB, and working capital of 37.20 million RMB [3]. - The project will be located in Jinpu New District, covering an area of 50,215.14 square meters (about 75.32 acres), with a construction area of 20,338.16 square meters [3]. - The construction period is expected to last 18 months and will include various production facilities for DMP and PAE, with an annual production capacity of 30,000 tons of PAE and 8,050 tons of ortho-cresol as a byproduct [3]. Product and Market Insights - PAE is produced from 2,6-dimethylphenol (DMP) and is a key material for various applications, including solar energy components and automotive parts [4]. - The production methods for PAE include solvent-free, organic solvent, and aqueous media methods, with the homogeneous solution method being the most efficient [4]. - The demand for modified PPO resin is projected to reach 4,926 tons globally by 2025, with major suppliers including SABIC and Mitsubishi Gas [5]. Industry Developments - Nantong Xingchen has recently completed a 50,000 tons/year PPO project and plans to expand to 130,000 tons/year [6]. - Other companies, such as Shandong Xingshun New Materials and Shanghai Jiarong, are also making significant investments in PPO production [8][9]. - Internationally, companies like SABIC and Korean Kolon Industries are expanding their production capacities for modified PPO and related materials to meet the growing demand in data centers and high-performance applications [10][11]. Competitive Landscape - The domestic market for PPO is experiencing structural contradictions, with basic modified PPO production increasing while electronic-grade and functionalized PPO remain in short supply and heavily reliant on imports [13].

Core Viewpoint - The company plans to invest in a new project to enhance its competitive edge in the new materials sector by producing polyarylether (PAE) and related by-products [2] Group 1: Project Details - The company intends to construct a 30,000 tons/year PAE project through its wholly-owned subsidiary, Kangda New Materials Group Dalian Co., Ltd [2] - Upon completion, the project will produce 30,000 tons/year of PAE, with by-products including 8,050 tons/year of ortho-cresol and 31,000 tons/year of the intermediate product 2,6-dimethylphenol (DMP) [2] - The by-product ortho-cresol will serve as a raw material for the company's subsidiary, Dalian Qihua Electronic Grade Epoxy Resin [2]

Group 1 - International Composite Materials (301526) is a core supplier of electronic-grade glass fiber and products in China, focusing on high-performance glass fiber material research and production, with a full industry chain layout advantage in electronic cloth [1][21] - The company’s main business includes electronic-grade glass fiber yarn, electronic cloth, and composite material products, widely used in copper-clad laminates (CCL) and printed circuit board (PCB) manufacturing, featuring electrical insulation and fire resistance [1][21] - The company is focusing on high-end products such as low-dielectric electronic cloth, suitable for high-speed PCB scenarios like AI servers and data centers, with production capacity and technical strength among the industry leaders [1][21] Group 2 - Honghe Technology (603256) is a leading enterprise in the global mid-to-high-end electronic-grade glass cloth segment, breaking international monopolies in ultra-thin and extremely thin electronic cloth [2][22] - The company’s main business focuses on the research, production, and sales of electronic-grade glass fiber yarns and fabrics, with applications covering various electronic devices including mobile phones, computers, and AI servers [2][22] - As a core supplier to global top copper-clad board manufacturers, the company has a significant competitive advantage in high-end PCB manufacturing, especially in AI computing-related high-speed PCB fields [2][22] Group 3 - China National Materials (002080) is a comprehensive leader in the new materials sector, leveraging state-owned enterprise resources to maintain industry leadership in glass fiber and wind power blades [3][23] - The company’s main business includes glass fiber and products, wind power blades, and lithium battery separators, with glass fiber being a core segment [3][23] - The company’s subsidiary, Taishan Glass Fiber, developed the first generation of low-dielectric fine yarn and electronic cloth, which won a global leading ICT manufacturer’s "Technology Breakthrough Award" [3][23] Group 4 - China Jushi (600176) is the absolute leader in the global glass fiber industry, with production capacity and technical strength at the forefront globally [4][24] - The company has built a full industry chain advantage from glass fiber yarn to electronic cloth, with products widely used in construction, electronics, and automotive sectors [4][24] - The company’s electronic cloth production capacity ranks among the top globally, with significant cost advantages in self-developed low-dielectric glass fiber (TLD-glass) [4][24] Group 5 - Jinan Guojin (002636) is a key player in the copper-clad board industry, with a complete electronic materials industry chain layout [5][25] - The company focuses on the research and production of copper-clad boards and related materials, maintaining a stable market share in East China [5][25] - The company’s electronic-grade glass fiber cloth is a core raw material for copper-clad boards, enabling effective cost reduction through in-house production [5][25] Group 6 - Hongchang Electronics (603002) is an important enterprise in the domestic electronic-grade epoxy resin and copper-clad board sector, covering core upstream and downstream segments of electronic cloth [6][26] - The company has established long-term partnerships with major domestic PCB manufacturers, focusing on the production and sales of electronic-grade epoxy resin, copper-clad boards, and semi-cured sheets [6][26] - The company benefits indirectly from the development of the electronic cloth industry through its copper-clad board business [6][26] Group 7 - Filihua (300395) is a leading enterprise in the global quartz glass materials sector, being the only company in China to achieve mass production of high-end quartz electronic cloth (Q cloth) [7][27] - The company’s main business focuses on the research, production, and sales of quartz glass and products, with applications in high-end fields such as semiconductors and optical communications [7][27] - The company’s third-generation quartz cloth has a dielectric constant as low as 2.3, making it a core enhancement material for M9 copper-clad boards [7][27] Group 8 - Changhai Co., Ltd. (300196) is an important enterprise in the domestic glass fiber and composite materials industry, focusing on high-end electronic cloth business through its subsidiaries [8][28] - The company’s main business includes glass fiber yarn, glass fiber products, and composite materials, with a stable production capacity layout in East China [8][28] - The company’s subsidiary, Guangyuan New Materials, focuses on producing low-dielectric electronic cloth and electronic yarn, entering the high-end PCB materials market [8][28] Group 9 - Jiuding New Materials (002201) is one of the leading enterprises in the domestic electronic cloth industry, with deep accumulation in glass fiber and composite materials [9][30] - The company’s main business includes glass fiber products, composite materials, and wind power blades, with electronic cloth being a core segment [9][30] - The company is continuously advancing the research and development of special glass fibers and electronic cloth, with significant revenue growth expected in the second quarter of 2025 [9][30] Group 10 - Shandong Glass Fiber (605006) is an important enterprise in the domestic glass fiber industry, with electronic cloth being a key focus area [10][31] - The company leverages the glass fiber industry cluster advantage in Shandong, steadily expanding its production capacity [10][31] - The company is focusing on mid-to-high-end electronic cloth products, adapting to the upgrading needs of the PCB industry [10][31]

Group 1 - The company plans to invest in a 30,000 tons/year Polyarylether (PAE) project through its wholly-owned subsidiary, enhancing its competitive edge in the new materials sector [1] - The project aims to extend the industrial chain towards high value-added segments, with an expected production of 30,000 tons/year of PAE, 8,050 tons/year of by-product ortho-cresol, and 31,000 tons/year of intermediate product 2,6-dimethylphenol (DMP) [1] - The by-product ortho-cresol will serve as a raw material for the company's subsidiary, Dalian Qihua Electronic Grade Epoxy Resin [1]

Group 1 - The company held its 18th meeting of the 6th Board of Directors on February 10, 2026, with all 11 directors present, and the meeting was conducted in accordance with legal and procedural requirements [2][5] - The Board approved the proposal for its wholly-owned subsidiary to invest in a project to construct a production facility for 30,000 tons/year of Polyarylether (PAE) [3][4] Group 2 - The total planned investment for the PAE project is approximately 645.74 million RMB, with construction costs accounting for 591.94 million RMB, interest during construction at 16.60 million RMB, and working capital of 37.20 million RMB [10] - The project will occupy an area of approximately 50,215.14 square meters and is expected to produce 30,000 tons/year of PAE and 8,050 tons/year of by-product ortho-cresol [12] - The project aims to enhance the company's competitive edge in the high-performance polymer materials sector, particularly in applications for new energy vehicles, electronics, and other high-tech industries [14][15] Group 3 - The PAE project is expected to address the tight supply-demand relationship in the domestic market, thereby enhancing the company's supply chain resilience and competitiveness [16] - The project aligns with the company's strategic focus on high-performance polymer materials and aims to achieve import substitution in high-end manufacturing [14][15] - The implementation of the project is currently in the preparatory stage, with no immediate significant impact on the company's financial status or operational results [16]

Core Insights - The news highlights significant corporate announcements and performance reports from various companies, indicating potential investment opportunities and market movements. Group 1: Corporate Announcements - Ge Weidong invested 1 billion yuan to subscribe for shares in Jianghuai Automobile's private placement, acquiring approximately 20.05 million shares at a price of 49.88 yuan per share, contributing to a total fundraising of about 3.5 billion yuan from eight investors [3][4] - *ST Cube completed its suspension review and will resume trading on February 11, 2026, after confirming no undisclosed significant matters related to the company [2] - Yunnan Baiyao plans to invest 137 million yuan in a second phase project for oral liquid production to meet growing market demand [11] Group 2: Performance Reports - Semiconductor manufacturer SMIC reported a 23.2% year-on-year increase in net profit for Q4 2025, reaching 1.223 billion yuan, driven by increased wafer sales and improved capacity utilization [5] - Special Biological Company reported a net profit of 1.038 billion yuan for 2025, reflecting a 25.39% increase year-on-year, attributed to stable sales of key products and new product approvals [6] - New Zobang achieved a net profit of 1.098 billion yuan in 2025, marking a 16.56% increase compared to the previous year [6] Group 3: Fundraising and Restructuring - New Han New Materials plans to raise up to 1 billion yuan through a private placement to fund projects related to high-performance resins and composite materials [8] - Chutian Long intends to raise up to 760 million yuan for the development of innovative safety products and digital operations [8] - Yi Yi Co. decided to terminate its plan to acquire 100% equity of a pet food company due to changes in the target company's operational conditions [8] Group 4: Major Contracts and Investments - Yunjiji Group signed an EPC contract worth 1.331 billion yuan for a cement production line and power station in Zimbabwe, representing 86.66% of the company's audited revenue for 2024 [9] - Solar Energy's subsidiary plans to acquire 100% of Jinhua Windling for 527 million yuan, enhancing its position in the solar power industry [9] - Yutong Technology intends to acquire 51% of Huayan Technology for 448.8 million yuan, which will become a subsidiary post-transaction [9]

Group 1: Company Announcements - Changfei Fiber currently does not engage in CPO-related business [1] - GCL-Poly Energy lacks production capacity for "space photovoltaic" products [1] - Zhongke High-tech plans to invest 145 million yuan in a new PCB drill pin project with an annual capacity of 30 million units [1] - Samsung Medical's wholly-owned subsidiary is expected to win a bid for a 321 million yuan project from Southern Power Grid [1] - Solar Energy's subsidiary intends to acquire 100% equity of Jinhua Windling [1] - SMIC expects a net profit of 1.223 billion yuan for Q4 2025, a year-on-year increase of 23.2% [2] - Kying Network has conducted its first buyback of 2.061 million shares [1] - Runbei Aerospace's controlling shareholder plans to reduce its stake by up to 3% [1] - Zhen'an Technology plans to raise no more than 740 million yuan through a private placement [1] - Jiangsu New Energy intends to issue convertible bonds to raise no more than 1.24 billion yuan [1] Group 2: Investment Projects - Kangda New Materials' subsidiary plans to invest in a project with an annual output of 30,000 tons of polyarylether [1] - China Shipbuilding Industry Corporation plans to build a comprehensive materials park [1] - Dong'a Ejiao intends to invest 1.485 billion yuan in a health consumer goods industrial park [1] - Hongda Co., Ltd. plans to invest approximately 71.43 million yuan in a 110kV power transmission and transformation project [1] Group 3: Share Buybacks and Reductions - Kying Network has executed its first buyback of 2.061 million shares [3] - Huasen Pharmaceutical's Liu Xiaoying plans to reduce her stake by up to 3% [3] - Wushang Group's Dazi Yintai plans to reduce its stake by up to 3% [3] - Runbei Aerospace's controlling shareholder plans to reduce its stake by up to 3% [3]

格隆汇2月10日丨康达新材(002669.SZ)公布，为深化落实康达新材料（集团）股份有限公司在新材料领 域的布局，增强产品结构的差异化竞争力，推动产业链向高附加值环节延伸，公司拟使用全资子公司康 达新材料集团大连有限公司（简称"康达新材（大连）"）投资建设"3万吨/年聚亚芳基醚（PAE）项 目"，项目计划总投资6.46亿元人民币，最终投资金额以项目建设实际投入为准。项目建设内容：3.1万 t/aDMP生产装置、1万t/a沉析聚合法PAE生产装置、2万t/a均相溶液法PAE生产装置、溶剂回收装置、造 粒包装厂房、空分站及公用、辅助、储运设施、行政办公及生活服务设施。 ...

每经头条（nbdtoutiao）——10倍价差刷屏！"外国人来华就医"火了，三位亲历者这样说⋯⋯ 每经AI快讯，康达新材2月10日晚间发布公告称，公司第六届第十八次董事会会议于2026年2月10日在 公司会议室以现场结合通讯表决方式召开。会议审议了《关于全资子公司拟投资建设3万吨/年聚亚芳基 醚（PAE）项目的议案》等文件。 （记者 王晓波） ...