Group 1 - The core point of the article is that Huibo New Materials (301555.SZ) has received a notification from Dongrui International regarding the completion of its share reduction plan [1] - Dongrui International reduced its holdings by a total of 1,290,900 shares, which accounts for 1.40% of the company's total share capital [1] - The reduction took place between June 23, 2025, and September 17, 2025, through centralized bidding and block trading on the Shenzhen Stock Exchange [1]

惠柏新材料科技（上海）股份有限公司 证券代码：301555 证券简称：惠柏新材 公告编号：2025-045 关于5%以上股东减持期限届满暨实施情况的公告 持股5%以上股东东瑞国际有限公司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。 惠柏新材料科技（上海）股份有限公司（以下简称"公司"或"本公司"）于2025年5月 26日披露了《关于持股5%以上股东减持股份的预披露公告》（公告编号：2025-028），持有 公司股份10,164,000股（占本公司总股本比例11.02%）的股东东瑞国际有限公司（以下简称" 东瑞国际"）计划自上述公告披露日起的15个交易日后的3个月内通过集中竞价、大宗交易方 式合计减持本公司股份不超过2,768,001股，即不超过本公司总股本的3.00%（如遇派息、送股、 转增股本、配股等除权除息事项，上述拟减持股份数量将相应进行调整，但减持股份占本公司 总股本的比例不变）。 公司于2025年6月24日披露了《关于持股5%以上股东减持股份触及1%整数倍的公告》（ 公告编号：2025-033） ...

Core Viewpoint - The company, Huibei New Materials (301555.SZ), specializes in the research, production, and sales of specialty modified epoxy resin products, with applications in various industries including automotive lightweighting and components [2]. Group 1: Product Offerings - The main business of the company includes a series of specialty modified epoxy resins, which encompass products for wind turbine blades, new composite materials, and electronic insulation packaging [2]. - The company's new composite material epoxy resin series includes flame-retardant epoxy resins suitable for interior and exterior decorative parts of buses, as well as prepreg epoxy resins applicable for automotive lightweight materials [2]. - Fast-curing RTM epoxy resins produced by the company are designed for lightweight components in various types of new energy vehicles [2].

Group 1 - The company specializes in the research, production, and sales of specialty formulated modified epoxy resin series products [1] - Main product applications include epoxy resins for wind turbine blades, new composite materials, and electronic electrical insulation packaging [1] - The company has not established a partnership with Yushu Technology [1]

Core Insights - The company, Huibo New Materials, specializes in the research, production, and sales of specialty formula modified epoxy resin products [2] - The main product lines include epoxy resins for wind turbine blades, new composite materials, and electronic insulation packaging [2] Product Applications - The company's products are widely applicable in various fields such as wind energy, sports equipment (e.g., bicycle frames, golf clubs), fishing rods, rail transportation, automotive lightweighting, hydrogen storage bottles, carbon plates, sports shoe materials, robotic arms, drones, LED packaging, and electronic components [2]

Group 1 - The company hosted a specific object research and on-site visit with 25 institutions, including major securities firms [1][2] - The research activity took place on September 2, 2025, from 11:00 to 12:00 at the company's location [2] Group 2 - The garbage incineration power generation industry is facing a slowdown in new domestic projects due to a complex economic environment, but there are opportunities in overseas markets [3] - The company's products and technologies can be applied in various fields, including marine equipment, biomass power generation, energy, chemicals, metallurgy, and papermaking [3] - As of June 30, 2025, overseas revenue accounted for approximately 55% of the company's total revenue, with strong bargaining power due to technical strength and cost advantages [3] - The company has three production bases, with plans for flexible capacity adjustments based on domestic and overseas orders [3] - The company has set performance assessment targets for its 2025-2027 restricted stock incentive plan, aiming for a revenue growth rate of no less than 10% in 2025, 40% in 2026, and 80% in 2027 based on 2024 revenue [3] - The impact of U.S. tariffs on the company is minimal, as orders from the U.S. market are small, and future orders will mainly be produced in Vietnam, where tariffs are lower [3] - The U.S. gas boiler market is expected to experience structural growth due to increased electricity demand from AI developments, leading to a significant rise in gas boiler demand [3]

Company Overview - Huibo New Materials Technology (Shanghai) Co., Ltd. was established on December 15, 2010, and is located in Jiading District, Shanghai [1] - The company specializes in the research, production, and sales of specialty formulated modified epoxy resin products, including those for wind turbine blades, new composite materials, and electronic insulation packaging [1] Financial Performance - As of August 27, Huibo New Materials' stock price dropped by 5% to 32.30 CNY per share, with a trading volume of 201 million CNY and a turnover rate of 12.53%, resulting in a total market capitalization of 2.98 billion CNY [1] - The revenue composition of the company's main business includes: 81.88% from wind turbine blade epoxy resin, 13.74% from new composite material epoxy resin, 4.11% from electronic insulation packaging epoxy resin, and 0.27% from other sources [1] Fund Holdings - According to data, one fund under Furong Fund holds Huibo New Materials as a top ten position, specifically Furong Fukan Mixed A (005104), which held 4,700 shares, accounting for 2.19% of the fund's net value [2] - The fund has experienced a floating loss of approximately 7,990 CNY as of the latest report [2] Fund Manager Information - The fund manager of Furong Fukan Mixed A is Jiang Fan, who has been in the position for 1 year and 68 days, with the fund's total asset size at 19.4 million CNY [3] - During Jiang Fan's tenure, the best fund return was 48.39%, while the worst return was 2.21% [3]

Core Viewpoint - Huibo New Materials Technology (Shanghai) Co., Ltd. reported strong financial performance for the first half of 2025, with significant growth in both revenue and net profit, indicating robust operational resilience and growth momentum [1][2]. Financial Performance - The company achieved a revenue of 1.015 billion yuan, representing a year-on-year increase of 98.18% [1]. - The net profit attributable to shareholders was 33.2047 million yuan, with a non-recurring net profit of 30.9783 million yuan [1]. Business Segments - The growth in revenue is primarily driven by the increase in sales volume of core products, particularly epoxy resin for wind turbine blades, which generated sales of 831 million yuan, up over 124% year-on-year [1][2]. - Revenue from epoxy resin for new composite materials reached 140 million yuan, reflecting a growth of over 41% [1][2]. Market Position and Strategy - As a leader in epoxy resin for wind turbine blades, the company has strengthened strategic partnerships with downstream customers, enhancing its market share in high-performance resin systems for large offshore wind turbine blades [2]. - The company is actively developing lightweight, high-strength epoxy resin products suitable for ultra-long blades and floating wind power, with several models certified and entering small batch supply [2]. Capacity Expansion - The construction of the Zhuhai factory, with a total investment of approximately 400 million yuan and a designed annual production capacity of 82,000 tons of new electronic specialty materials, is set to be completed by September 2024 [2]. - This project aims to expand production capacity for wind power resins and focus on new product lines such as electronic-grade resins and high-end adhesives, enhancing the company's order-taking capability and market responsiveness [2]. Industry Outlook - Industry experts suggest that the company's product lines are closely tied to high-growth sectors, and the release of production capacity is well-aligned with industry demand, positioning the company for rapid growth over the next three years [2].

Core Viewpoint - Hebei New Materials (301555.SZ) reported its semi-annual results for 2025, highlighting significant institutional ownership and changes in investor composition [1] Institutional Ownership - As of August 26, 2025, a total of 13 institutional investors disclosed holdings in Hebei New Materials A-shares, with a combined holding of 57.947 million shares, representing 62.80% of the total share capital [1] - The top ten institutional investors include companies such as Hu Li Epoxy Resin Co., Ltd., Dongrui International Co., Ltd., and UBS AG, with their combined holding percentage at 62.15% [1] - Compared to the previous quarter, the combined holding percentage of the top ten institutions decreased by 2.35 percentage points [1] Public Fund and Foreign Investment - In the current period, one new public fund was disclosed, namely the Furong Fukan Mixed A Fund [1] - Regarding foreign investment, one foreign fund, Dongrui International Co., Ltd., reduced its holdings by 0.17% compared to the previous quarter, while UBS AG was a newly disclosed foreign institution [1]

Group 1 - The company did not distribute cash dividends, issue bonus shares, or increase capital from reserves during the reporting period [2] - The company’s main business includes the research, production, and sales of specialty modified epoxy resin products, which are widely used in various industries such as wind power, sports equipment, and electronics [3][4] - The company achieved a main business revenue of 1,012.44 million yuan, representing a year-on-year increase of 98.42%, and a net profit attributable to shareholders of 33.20 million yuan, reflecting a year-on-year growth of 844.33% [4] Group 2 - Revenue from epoxy resin for wind turbine blades reached 831.22 million yuan, an increase of 124.81% year-on-year, while revenue from new composite material epoxy resin was 139.50 million yuan, growing by 41.89% year-on-year [4]