新广益IPO过会，研发费用率低于同行的原因及合理性被追问

Core Viewpoint - Suzhou Xinguangyi Electronics Co., Ltd. has successfully passed the IPO review on the ChiNext board, focusing on high-performance special functional materials [1] Group 1: Company Overview - Xinguangyi specializes in the R&D, production, and sales of high-performance special functional materials, including anti-overflow adhesive special films and strong resistance special films [1] - The company’s IPO application was accepted on June 29, 2023, and it entered the inquiry phase on July 25, 2023 [1] Group 2: Fundraising and Investment Plans - Xinguangyi aims to raise approximately 638 million yuan through the IPO, which will be invested in functional material projects [2] Group 3: Regulatory Requirements and R&D Analysis - The listing committee requested Xinguangyi to explain the technical advantages of its main products, sustainability of operational performance, and the ability to digest new production capacity [2] - The committee also required details on the background of core technical and R&D personnel, R&D achievements, and investment, as well as the rationale behind the lower R&D expense ratio compared to industry peers [2] - Xinguangyi's R&D expense ratios for 2022-2024 are 4.9%, 5.35%, and 4.72%, respectively, which are lower than peers like Fangbang Co. and Stik [2]