Investment Rating - The report assigns a "Strong Buy" investment rating to the company [6][7]. Core Insights - The company is a leading player in the functional protective sleeve industry in China, with a diverse product range and strong technological capabilities. It is actively expanding into the humanoid robot product applications [6][12]. - The company has benefited from the growth of the new energy vehicle (NEV) sector, with significant revenue growth and plans for international expansion [6][12]. - The company is also developing products for the humanoid robotics field, leveraging its existing technology and customer relationships [6][12]. Company Overview - The company, established in 2004 and listed in 2024, specializes in the design, research, production, and sales of modified polymer protective materials, primarily functional protective sleeves and functional monofilaments [12]. - The company has established production bases in various locations, including Shenzhen, Dongguan, Suzhou, and Mexico [12]. Industry Position - The functional protective sleeve industry is experiencing growth driven by the demand from the NEV market, with the market size in China expected to reach approximately 79 billion yuan in 2024 [34]. - The company is positioned as a domestic leader in the industry, competing with multinational corporations and benefiting from lower costs and closer customer relationships [36][40]. Financial Performance - The company has shown strong financial performance, with a compound annual growth rate (CAGR) of approximately 28% in revenue and 25% in net profit from 2020 to 2024 [20][23]. - The projected revenue for 2025 is 1.1 billion yuan, with a year-on-year growth of 27% [8]. Product Applications - The company's main products, functional protective sleeves, are widely used in various sectors, including automotive, engineering machinery, rail transit, and communications electronics [15]. - The company is expanding its product applications to include humanoid robot wiring systems and components [6][12]. Competitive Advantages - The company has a strong competitive edge due to its technological capabilities, cost advantages from vertical integration, and a robust customer base [43][48]. - The company has maintained high gross and net profit margins, with gross margins around 40% and net margins above 20% from 2020 to 2024 [23].

Core Viewpoint - Shenzhen Jundingda New Materials Co., Ltd. has decided to conclude the "Production Functional Protective Materials East China Headquarters Project" and reallocate the surplus funds of 100.4608 million RMB to invest in the "Jundingda Functional Protective Materials Production Construction Project" to enhance economic efficiency and implement its development strategy [1][2][3]. Fundraising Overview - The company successfully issued 10 million shares at a price of 55.82 RMB per share, raising a total of 558.2 million RMB, with a net amount of 484.0668 million RMB after deducting issuance costs [2][3]. - The raised funds were deposited into a special account on March 15, 2024, and have been verified by Tianjian Accounting Firm [2][3]. Fund Management and Usage - The board of directors approved the conclusion of the previous project and the use of surplus funds for new investments during the meeting on August 15, 2025, which was later ratified by the shareholders on September 5, 2025 [1][2]. - The company has established five fundraising special accounts to manage and store the raised funds, ensuring compliance with relevant laws and regulations [4][3]. Regulatory Agreements - A tripartite supervision agreement was signed on September 18, 2025, between the company, CITIC Bank Guangzhou Branch, and CITIC Securities, detailing the management and usage of the special account [6][7]. - The agreement stipulates that the funds in the special account are exclusively for the designated project and cannot be used for other purposes [5][6]. Monitoring and Compliance - The agreement includes provisions for regular audits and monitoring of the fund usage, with specific thresholds for reporting large withdrawals [8][9]. - The parties involved are required to cooperate in investigations if any irregularities in fund usage are detected [9][10].

证券代码：301538 证券简称：骏鼎达 公告编号：2025-039 深圳市骏鼎达新材料股份有限公司 一、募集资金基本情况 经中国证券监督管理委员会《关于同意深圳市骏鼎达新材料股份有限公司首 次公开发行股票注册的批复》（证监许可〔2023〕1853 号）同意注册，并经深 圳证券交易所同意，公司首次向社会公开发行人民币普通股股票 1,000.00 万股， 每股面值 1.00 元，发行价格为人民币 55.82 元/股。本次募集资金总额为人民币 55,820.00 万元，扣除发行费用后，实际募集资金净额为人民币 48,406.68 万元。 上述募集资金已于 2024 年 3 月 15 日划至公司募集资金专项账户，天健会计 师事务所（特殊普通合伙）已对公司募集资金的到位情况进行了审验，并于当日 出具《验资报告》（天健验〔2024〕3-5 号）。公司及子公司已与存放募集资金 的商业银行、保荐机构签署了募集资金监管协议。 二、募集资金专户设立和存储情况 公司于 2025 年 8 月 15 日召开第四届董事会第六次会议，会议审议通过了《关 于部分募投项目结项并使用节余资金投资新项目的议案》，按照公司首次公开发 行股票募投项 ...

证券代码：301538 证券简称：骏鼎达 公告编号：2025-038 深圳市骏鼎达新材料股份有限公司 关于持股 5%以上股东减持计划实施完毕的公告 股东新余博海投资合伙企业（有限合伙）保证向本公司提供的信息内容 真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一 致。 深圳市骏鼎达新材料股份有限公司（以下简称"公司"）于 2025 年 7 月 17 日 披露了《关于持股 5%以上股东减持公司股份的预披露公告》（公告编号： 2025-025），公司持股 5%以上股东新余博海投资合伙企业（有限合伙）（以下 简称"新余博海"）计划自上述公告披露之日起 15 个交易日后的 3 个月内（2025 年 8 月 8 日-2025 年 11 月 7 日）以集中竞价方式减持公司股份不超过 784,000 股 （占公司总股本比例不超过 1%）。 公司近日收到上述股东的《股份减持计划实施完毕告知函》，本次减持计划 已实施完毕。根据《上市公司股东减持股份管理暂行办法》《深圳证券交易所上 市公司自律监管指引第 18 号——股东及董事、高级管理人员减持股份》等有关 规定 ...

深圳市骏鼎达新材料股份有限公司 关于持股 5%以上股东权益变动超过 1%整数倍的公告 股东新余博海投资合伙企业（有限合伙）保证向本公司提供的信息内容 真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一 致。 深圳市骏鼎达新材料股份有限公司（以下简称"公司"）于 2025 年 7 月 17 日 披露了《关于持股 5%以上股东减持公司股份的预披露公告》（公告编号： 2025-025），公司持股 5%以上股东新余博海投资合伙企业（有限合伙）（以下 简称"新余博海"）计划自上述公告披露之日起 15 个交易日后的 3 个月内（2025 年 8 月 8 日-2025 年 11 月 7 日）以集中竞价方式减持公司股份不超过 784,000 股 （占公司总股本比例不超过 1%）。 公司于近日收到股东新余博海出具的《关于股份减持计划进展情况的告知 函》，前述股东通过集中竞价方式累计减持公司股份 385,800 股，前述股东合计 持有公司股份比例从 6.4920%下降至 5.9999%，本次权益变动超过 1%的整数倍。 新余博海减持情况与此前已披露的减持计划一致 ...

每经头条（nbdtoutiao）——"史上最丑"与"丑上最薄"：iPhone 17系列背后的新战事 （记者 王晓波） 2025年1至6月份，骏鼎达的营业收入构成为：功能性保护套管占比74.34%，其他主营业务占比 25.66%。 截至发稿，骏鼎达市值为72亿元。 每经AI快讯，骏鼎达（SZ 301538，收盘价：91.58元）发布公告称，2025年9月10日，骏鼎达接受鸿道 投资等投资者调研，公司董事、董事会秘书刘亚琴等人参与接待，并回答了投资者提出的问题。 ...

Group 1: Market Position and Competition - The company operates in a fragmented market with numerous competitors, including multinational corporations, domestic leaders, and small-scale producers [2][3] - The company has become one of the leading domestic enterprises in the polymer modified protective materials industry, with product technology and service capabilities comparable to foreign competitors [3][4] - The company's direct competitors are mainly multinational and domestic leading enterprises [3] Group 2: Product Performance and Pricing Strategy - The company's self-rolling protective sleeve has an impact resistance performance of 65J, classified as E-level, while foreign competitors have a performance of 50J [3] - The pricing strategy is determined through negotiations with downstream customers based on industry conditions, competition, and procurement scale [3] Group 3: Competitive Advantages and Barriers - Competitive advantages include technological and R&D capabilities, vertical integration, and a strong customer resource base [3][4] - Industry barriers consist of technological, qualification certification, scale, and talent barriers [3] Group 4: Raw Materials and Cost Structure - Main raw materials include PET, PA, PP, PE, and others, with material costs accounting for 65.20% of the main business costs in the first half of 2025 [3][4] - Raw material prices are influenced by fluctuations in upstream oil and copper prices [3] Group 5: Emerging Markets and Applications - The humanoid robot industry presents new application scenarios for the company's products, although current projects are still in testing and validation stages [4] - The company has established connections with well-known clients in the humanoid robot sector, but specific names cannot be disclosed due to confidentiality agreements [4] Group 6: International Expansion - The company has invested in Mexico with a total investment of $1 million, including an additional $600,000 this year [4] - Plans for further international expansion include potential investments in Morocco and Southeast Asia based on customer demand [4] Group 7: Revenue and Growth - The company's revenue from the automotive industry accounts for approximately 68%, with overall revenue growth of 31.67% year-on-year in the first half of 2025 [5] - Revenue contributions from engineering machinery and communications electronics are also growing, with respective year-on-year increases of 14% and 32% [5]

广东华商律师事务所 法律意见书 广东华商律师事务所 关于深圳市骏鼎达新材料股份有限公司 2025 年第一次临时股东大会的 法律意见书 二〇二五年九月 深圳市福田区深南大道 4011 号香港中旅大厦 21-26 楼 21-26/F,HKCTS Tower,No.4011,ShenNan Road,ShenZhen,PRC. 电话(Tel)：0086-755-83025555. 传真(Fax)：0086-755-83025068 邮政编码(P.C.)：518048 网址 http://www.huashanglawyer.com 广东华商律师事务所 法律意见书 广东华商律师事务所 关于深圳市骏鼎达新材料股份有限公司 2025 年第一次临时股东大会的 法律意见书 致：深圳市骏鼎达新材料股份有限公司 广东华商律师事务所（以下简称"本所"）接受深圳市骏鼎达新材料股份有限 公司（以下简称"骏鼎达"）委托，就公司召开 2025 年第一次临时股东大会（以 下简称"本次股东大会"）的有关事宜，根据《中华人民共和国公司法》（以下简 称"《公司法》"）《中华人民共和国证券法》（以下简称"《证券法》"）《上市 公司股东会规则》（以下 ...

证券代码：301538 证券简称：骏鼎达 公告编号：2025-036 深圳市骏鼎达新材料股份有限公司 2025 年第一次临时股东大会决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 特别提示： 1、本次股东大会无否决议案的情形； 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （一）会议召开情况 1、现场会议召开时间：2025 年 9 月 5 日（星期五）下午 14:30 开始 2、现场会议召开地点：深圳市宝安区沙井街道民主西部工业园 E 区 2 栋工 业厂房骏鼎达三楼会议室 7、本次股东大会召集、召开与表决程序符合《中华人民共和国公司法》等 有关法律法规和《深圳市骏鼎达新材料股份有限公司章程》（下称"《公司章程》"） 的规定。 （二）会议的出席情况 1、股东及股东代理人出席的情况： 通过现场和网络投票的股东 64 人，代表股份 53,292,984 股，占公司有表决 权股份总数的 67.9757％。 其中：通过现场投票的股东 5 人，代表股份 53,131,932 股，占公司有表决权 股份总数的 67.7703％。 通过 ...

中信建投证券股份有限公司 关于深圳市骏鼎达新材料股份有限公司 2025 年上半年度持续督导跟踪报告 | 保荐机构名称：中信建投证券股份有限公司 | 被保荐公司简称：骏鼎达 | | --- | --- | | 保荐代表人姓名：艾立伟 | 联系电话：020-81286902 | | 保荐代表人姓名：温杰 | 联系电话：020-38381288 | | （3）报告事项的进展或者整改情况 | 不适用 | | --- | --- | | 8.关注职责的履行情况 | | | （1）是否存在需要关注的事项 | 否 | | （2）关注事项的主要内容 | 不适用 | | （3）关注事项的进展或者整改情况 | 不适用 | | 9.保荐业务工作底稿记录、保管是否合规 | 是 | | 10.对上市公司培训情况 | | | （1）培训次数 | 0 次，拟下半年开展培训工作 | | （2）培训日期 | 不适用 | | （3）培训的主要内容 | 不适用 | | 11.其他需要说明的保荐工作情况 | 无 | 二、保荐机构发现公司存在的问题及采取的措施 | 项 事 | 存在的问题 | 采取的措施 | | --- | --- | --- | | ...