HUASHENG(SH:605180) Zheng Quan Ri Bao·2025-07-16 06:10Core Viewpoint - The project initiated in 2022 with a total investment of approximately 470 million yuan is a key strategic transformation for Huasheng Technology, aimed at enhancing product layout and competitiveness while exploring a "second growth curve" [1] Group 1: Project Overview - The capacitor film business currently represents a small portion of the company's overall revenue, but its advancement is expected to foster new profit growth points [1] - The project is seen as a critical support for the company's long-term strategy, focusing on technology and management innovation to penetrate the mid-to-high-end market [1] Group 2: Market Demand and Trends - Capacitor films are essential materials for capacitor manufacturing, widely used in sectors such as new energy vehicles, energy storage systems, rail transit, and photovoltaic inverters [1] - According to the China Electronic Components Industry Association, global demand for capacitor films is projected to reach 172,000 tons in 2024, a year-on-year increase of 13%, with further growth expected to 186,000 tons in 2025 and 235,000 tons by 2029 [1] Group 3: Industry Insights - The high-end capacitor film market is experiencing structural expansion driven by the new energy vehicle, energy storage, and rail transit sectors [2] - The push for "dual carbon" goals is accelerating the development of power electronics towards lightweight, miniaturized, and high-voltage solutions, placing capacitor films in a dual cycle of increased technical intensity and accelerated domestic production [2] Group 4: Company Developments - Huasheng Technology is also planning to invest 360 million yuan in a project in Haining, Zhejiang, to produce 15,000 tons of functional electronic film materials, primarily targeting the electronics and new energy sectors [2] - The company has successfully introduced two advanced production lines for the ultra-thin special capacitor film project, with the first line already in normal production and receiving customer recognition [4]