研报掘金丨华鑫证券：予金发科技“买入”评级，深度整合一体化产业链资源

Core Viewpoint - The report highlights that Jinfa Technology has successfully enhanced its market share and net profit through technological innovation and integration of its industrial chain resources in the first half of the year [1] Group 1: Company Performance - The special engineering plastics segment achieved a remarkable sales growth of 60.87% year-on-year, becoming a new engine for the company's performance growth [1] - The company has reached an annual production capacity of 50,000 tons of bio-based succinic acid and successfully launched a 10,000-ton bio-based BDO facility, with product purity leading in the domestic market [1] Group 2: Industry Position - As one of the most comprehensive companies in the global chemical new materials industry, the company showcases strong competitiveness in key areas such as biodegradable plastics, special engineering plastics, carbon fiber, and composite materials [1] - The company has developed a series of Bio-PBST, Bio-PBS, and their alloy products based on self-produced bio-based monomers, promoting sustainable development of the industrial chain and significantly enhancing product value [1] Group 3: Investment Rating - The company is given a "buy" investment rating based on its strong performance and growth potential [1]