据了解，CARBIOS是法国最具创新力的材料科技企业之一，其开发的生物酶法PET解聚技术被认为是"塑料循环领域的革命性突破"，被 纳入"France2030"法国2030国家战略重点项目，获得法国政府及全球消费品行业的高度关注。 12月3日，万凯新材（301216）与法国生物科技先锋CARBIOS在浙江海宁正式签署合作协议，宣布共同建设全球首台套、年产5万吨的生 物酶解聚PET再生工业化装置，该项目暂定总投资1.15亿欧元(约9.22亿元)。万凯新材表示，该合作标志着生物酶法PET解聚技术首次在亚 洲规模化落地。 签约仪式上，海宁市委、市政府主要领导、法国CARBIOS全球管理团队、万凯新材高管，以及马石油、米其林、诺和新元、H&M、农夫 山泉、吉利集团、Tims咖啡等多家国际品牌方、投资机构、行业协会共同出席。 生物酶法技术走向工业化 公告显示，为推动消费后PET再生循环产业化落地，确立在再生PET领域的竞争领先地位，万凯新材与Carbios S.A.签署了《股东协议》， 双方将在中国成立一家合资公司，其中万凯新材占比70%。双方将通过合资公司合作建设首座年处理5万吨废料的生物酶解聚PET再生项 目以及运营 ...

Core Insights - Wankai New Materials has made significant strides in industrial layout and international development, including a 350 million yuan investment in a maleic acid technical upgrade project and a partnership with French company Carbios for a biocatalytic PET recycling project [1][2] Group 1: Investment and Projects - The company plans to invest approximately 350 million yuan through its wholly-owned subsidiary to build a maleic acid technical upgrade project with an annual capacity of 100,000 tons, enhancing the utilization rate of existing glycol units and diversifying product offerings [2] - A joint venture with Carbios will be established in China with a registered capital of 277 million yuan, where Wankai will invest 194 million yuan for a 70% stake, focusing on a biocatalytic PET recycling project with an estimated total investment of 115 million euros (approximately 922 million yuan) [2] Group 2: Financial Performance - In the first three quarters of 2025, the company achieved a net profit attributable to shareholders of 77.59 million yuan, successfully turning around from losses, despite a 5.43% year-on-year decline in total revenue to 12.436 billion yuan [3] - The third quarter alone saw a net profit of 21.30 million yuan, marking a year-on-year increase of 115.64%, indicating a strong recovery in profitability [3] Group 3: R&D and Product Development - Continuous investment in R&D has led to breakthroughs in several key projects, including the bio-based furan polyester project and the PET chemical recycling technology project, enhancing the company's innovation capabilities [3] - The subsidiary Capqi has achieved mass production of PETG series products, generating revenue of 204 million yuan in the first half of 2025, a 25% increase year-on-year, and a net profit of 14.42 million yuan, up 61% [4] Group 4: International Expansion - The company is accelerating overseas capacity construction, with projects in Nigeria (300,000 tons of polyester bottle chips) and Indonesia (750,000 tons of polyester bottle chips) progressing steadily [4] - Sales in key markets such as India, the Middle East, Southeast Asia, Central Asia, and Africa remain stable, providing a solid foundation for market growth and supporting the company's global industry position [5]

Core Viewpoint - The report from Open Source Securities highlights the advancement of WanKai New Materials' rPET and oxalic acid projects, indicating that the dual drivers of growth will support the company's development, maintaining a "Buy" rating [1] Group 1: Project Developments - The company announced two project construction updates, including the establishment of a joint venture for the investment and construction of a biological enzymatic hydrolysis PET recycling project and a technical transformation project for an annual production of 100,000 tons of oxalic acid [1] - The launch of these projects is expected to facilitate multi-faceted growth for the company [1] Group 2: Market Dynamics - The main business of bottle-grade PET is experiencing a reversal of internal competition, with a favorable supply-demand landscape anticipated in the future, solidifying the company's development foundation [1] - The production of lithium iron phosphate using oxalic acid as a raw material, through the ferrous oxalate method, is expected to yield high-end products with high pressure density and reduced cycle degradation [1] Group 3: Industry Trends - The expansion of lithium iron phosphate production using the ferrous oxalate method is concentrated in Sichuan, which is expected to drive an increase in the company's oxalic acid demand [1]

Core Viewpoint - The article discusses the establishment of a joint venture between Wankai New Materials and Carbios to build a PET recycling plant in China, utilizing innovative enzymatic technology for sustainable recycling [2][5]. Project Overview - The joint venture will construct the first plant capable of processing 50,000 tons of PET waste annually, located in Haining Qianshan Industrial Zone [3][4]. - The total investment for the project is approximately 1.15 billion euros (around 9.22 billion RMB), with Wankai contributing 70% and Carbios 30% [2][5]. Carbios Technology - Carbios' enzymatic technology allows for the recycling of complex PET waste without solvents, converting it back into its basic components, terephthalic acid (PTA) and ethylene glycol (MEG), achieving 100% recyclability [5][6]. - This technology addresses the challenge of 100% PET recycling and aims to create significant value in the post-consumer PET recycling sector [5][6]. Investment and Funding - The project is expected to be funded through registered capital and bank financing, with capital expenditures estimated at 1.15 billion euros (approximately 9.22 billion RMB) [5][6]. - The registered capital of the joint venture is set at 276.6 million RMB, with Wankai contributing 193.6 million RMB and Carbios contributing approximately 82.99 million RMB [6]. Governance and Management - The joint venture will have a board of directors consisting of three members, with Wankai nominating two and Carbios nominating one [7]. - Wankai is committed to completing its investment in Carbios within six months of the agreement's effectiveness [7][8]. Exclusive Licensing Agreement - Carbios grants the joint venture exclusive rights to its PET depolymerization technology across Asia, with the initial license period lasting three years, extendable based on production capacity increases [8][9]. - The joint venture is responsible for sourcing raw materials and negotiating necessary contracts for plant operations [8][9]. Future Prospects - The collaboration aims to position Wankai as a leader in the recycled PET market, leveraging Carbios' innovative technology to enhance sustainability in the plastics industry [2][5].

Group 1: Wind Power Industry - The domestic wind power demand is stable, driven by the "dual carbon" goals and the 2035 plan for 360 GW of installed capacity, with a projected addition of 86.99 GW in 2024 and a total of 272.1 GW from 2021 to 2024, significantly higher than the 145.5 GW added during the 13th Five-Year Plan period [7][8][9] - The "15th Five-Year Plan" aims for annual new installed capacity of no less than 120 GW, with offshore wind power expected to contribute at least 15 GW annually, indicating a robust growth trajectory for the wind power sector [7][8] - The industry is recovering from price wars, with a 9% increase in the average bid price for onshore wind projects in 2025 compared to 2024, suggesting improved profitability for wind turbine manufacturers [9] Group 2: Retail Industry - The retail sector is slowly recovering in 2025, with segments like high-end gold and fashion jewelry experiencing higher demand due to rising gold prices, while cosmetics and medical aesthetics face intense competition [13][15] - "Emotional consumption" is identified as a key driver of market dynamics, with a focus on brands that can leverage consumer insights and differentiate their products [13][15] - Investment strategies should prioritize high-quality segments with both short-term recovery potential and long-term growth prospects, emphasizing companies with competitive advantages and brand strength [13][15] Group 3: Coal Mining Industry - Yongtai Energy's Hai Zetan coal mine project is progressing ahead of schedule, with plans to repurchase shares worth 300-500 million yuan for cancellation, signaling confidence in long-term growth [20][21][22] - The Hai Zetan project has significant resource advantages, with reserves of 1.145 billion tons and a planned production capacity of 6 million tons per year, expected to reach 10 million tons annually upon completion [21][22] - The company maintains profit forecasts for 2025-2027, projecting net profits of 580 million, 1.05 billion, and 1.47 billion yuan, respectively, with a corresponding EPS of 0.03, 0.05, and 0.07 yuan [20][21] Group 4: Chemical Industry - Wankai New Materials is advancing its rPET and oxalic acid projects, which are expected to drive diversified growth, maintaining a "buy" rating [5][23] - The rPET project, in collaboration with Carbios, aims for an initial capacity of 50,000 tons, with a total investment of approximately 922 million yuan, showcasing strong partnership commitment [23][24] - The oxalic acid project, utilizing low-cost natural gas, aims to establish a production capacity of 100,000 tons, enhancing the company's competitive edge in the market [24]

Group 1 - Dongfang Electric announced that three executives plan to reduce their holdings by a total of no more than 30,000 shares due to personal financial needs [1] - Yahu Pharmaceutical's APL-1401 clinical trial data was presented at the 19th European Colorectal Congress, indicating progress in treating moderate to severe ulcerative colitis [1] - Guizhou Bai Ling's actual controller is under investigation by the China Securities Regulatory Commission for insider trading and information disclosure violations [3] Group 2 - Bairen Medical's ePTFE pericardial membrane product has been approved for registration, ending the reliance on imports for this product in the domestic market [4] - Qianxin received approval for a total of 2 billion yuan in technology innovation bonds, with plans to issue medium-term notes and short-term financing bonds [6] - Tengjing Technology's shareholder plans to reduce holdings by no more than 1.96% of the company's shares [7] Group 3 - Yuntianhua's subsidiary is required to pay 386 million yuan in overdue taxes and penalties, which will impact the company's net profit for 2025 [8] - Jianyou Pharmaceutical's propofol emulsion injection has received FDA approval in the United States [9] - Suzhou Gaoxin successfully acquired land use rights for a residential project for 360 million yuan [9] Group 4 - Chalco International's subsidiary won a bid for a 3.03 billion yuan electrolytic aluminum project [11] - Tai Long Pharmaceutical's stock will continue to be suspended due to potential changes in control as the major shareholder is planning a share transfer [12] - Qianli Technology reported a 63.44% year-on-year increase in automobile sales for November, although new energy vehicle sales decreased by 43.98% [13] Group 5 - Fosun Pharma's innovative drug FXS0887 has received approval for a Phase I clinical trial for advanced malignant solid tumors [14] - Guoen Co. has obtained approval for a project to produce 20,000 square meters of aviation-grade acrylic glass, with a total investment of 560 million yuan [15] - Guofa Co.'s chairman resigned due to personal reasons [17] Group 6 - Shanghai Construction won a bid for a state-owned construction land use right for 264 million yuan [18] - Weixin Kang's subsidiary received approval for a clinical trial of lidocaine cream for local anesthesia [20] - Sanxing Medical's subsidiary is a candidate for a 152 million yuan transformer procurement project for the State Grid [20] Group 7 - People's Daily announced the resignation of its president due to work changes, while retaining other leadership roles [21] - Beibu Gulf Port reported a 0.29% year-on-year increase in cargo throughput for November [22] - Chongqing Construction won three engineering projects with a total value of approximately 2.773 billion yuan [23] Group 8 - Xingyu Co. is planning to issue H-shares and list on the Hong Kong Stock Exchange [24] - Huajian Group signed a design contract worth 160 million yuan for a comprehensive project [25] - Wankai New Materials plans to invest 350 million yuan in a technical transformation project for producing 100,000 tons of adipic acid [26] Group 9 - Kaipuyun received a government subsidy of 18 million yuan, which is 87.43% of its net profit for the last audited fiscal year [28] - Ningbo Port expects a 10.8% year-on-year increase in container throughput for November [30] - An Cai High-Tech plans to invest 498 million yuan to upgrade its photovoltaic glass production line [32] Group 10 - Shunhao Co. stated that its existing business has not generated synergies with the rail business, which faces various risks [34] - Yihualu plans to publicly transfer 35% of its stake in Liaoyun Company [35] - ST Wanfang's shareholder plans to reduce holdings by no more than 3% of the company's shares [36] Group 11 - Youyou Food's shareholder plans to reduce holdings by no more than 110,000 shares [38] - Hengtong Optic-Electric's incentive fund has spent 49.98 million yuan to purchase company shares [41] - Zoli Pharmaceutical plans to issue convertible bonds to raise no more than 1.556 billion yuan for various projects [42]

（文章来源：证券日报） 证券日报网讯 12月3日，万凯新材在互动平台回答投资者提问时表示，截至2025年11月28日，公司股东 总人数为26169户。 ...

证券日报网讯12月3日，万凯新材（301216）在互动平台回答投资者提问时表示，公司将持续关注灵心 巧手的上市进展，并及时履行信息披露义务。 ...

基础化工/塑料 万凯新材（301216.SZ） rPET、草酸项目取得新进展，打造多元业绩增长点 2025 年 12 月 03 日 投资评级：买入（维持） | 日期 | 2025/12/2 | | --- | --- | | 当前股价(元) | 18.20 | | 一年最高最低(元) | 21.99/9.37 | | 总市值(亿元) | 105.59 | | 流通市值(亿元) | 99.79 | | 总股本(亿股) | 5.80 | | 流通股本(亿股) | 5.48 | | 近 3 个月换手率(%) | 205.0 | 股价走势图 数据来源：聚源 -30% 0% 30% 60% 90% 120% 2024-12 2025-04 2025-08 万凯新材 沪深300 相关研究报告 《Q3 业绩同环比增长，反内卷及新材 料布局打开成长空间 —公司信息更 新报告》-2025.10.29 《公司盈利拐点确立，多元增长极打 开成长空间—公司信息更新报告》 -2025.8.28 《聚酯瓶片主业底部向上，多元增长 极共塑未来 —公司首次覆盖报告》 -2025.8.21 请务必参阅正文后面的信息披露和法律声明 1 / 4 ...

Core Viewpoint - Wankai New Materials (301216.SZ) plans to invest in a capacity enhancement project to produce 100,000 tons of adipic acid through its wholly-owned subsidiary Sichuan Zhengda Kai New Materials Co., Ltd. [1] Group 1: Project Overview - The project aims to enhance the existing ethylene glycol facility's utilization rate without affecting the ethylene glycol output [1] - The total investment for the project is approximately 350 million yuan, with a construction period of 9 months [1] - Upon completion, the project will have an annual production capacity of 100,000 tons of adipic acid and will also produce 8,939 Nm³/h of hydrogen as a byproduct [1] Group 2: Technical Aspects - The project will utilize intermediate products from the ethylene glycol facility, specifically dimethyl oxalate (DMO), as raw materials for the production of adipic acid [1] - The production process will employ a hydrolysis method to enhance overall project efficiency [1]