Core Viewpoint - The demand for high-end electronic resins is increasing due to the global PCB industry shifting to China, with the company Tongyu New Materials planning to raise funds for expanding production capacity to meet this demand [1][3]. Company Summary - Tongyu New Materials is set to be listed on the Shenzhen Stock Exchange on July 10, primarily to raise funds for its subsidiary's project to produce 200,000 tons of electronic resin annually, addressing capacity constraints [1]. - The company has a production capacity utilization rate projected at 100.04%, 105.93%, and 116.37% for the years 2022 to 2024 [1]. - The chairman of Tongyu New Materials emphasized that the fundraising project will effectively expand the company's production capacity and enhance its competitive and profitability capabilities [1]. Industry Summary - China is currently the largest producer of copper-clad laminates globally, but the high-performance electronic resins used in these laminates are still dominated by companies from the US, South Korea, Japan, and Taiwan, indicating a significant domestic supply gap [2]. - The electronic resin market is crucial for the production of copper-clad laminates, semiconductor packaging materials, and other electronic components, which are essential for high-tech industries [1][2]. - The demand for electronic resins is expected to rise with the development of high-density interconnect printed circuit boards, driven by trends in miniaturization and lightweight electronic products [2]. - The company is focusing on R&D, with a compound annual growth rate of 20.28% in R&D investment from 2022 to 2024, aiming to reduce reliance on foreign suppliers and increase the domestic production rate of high-performance electronic resins [2][3]. - The market for high-performance electronic resins is anticipated to grow significantly due to the ongoing advancements in 5G and 6G communication technologies, AI computing power, and automotive intelligence [5].
加码高端电子树脂产能 同宇新材将于7月10日在深交所上市