海伟电子通过港交所聆讯 深耕电容器薄膜赛道

Core Viewpoint - Haiwei Electronics specializes in capacitor film products, which are essential components of film capacitors known for their excellent voltage resistance, high-frequency stability, and long lifespan. The company holds a 10.9% market share in China's capacitor base film market as of 2024 [4]. Industry Overview - The capacitor base film market in China is projected to grow from 46,200 tons in 2019 to 113,400 tons by 2024, representing a compound annual growth rate (CAGR) of 19.7%. It is expected to reach 224,100 tons by 2029, with a CAGR of 14.1% from 2025 to 2029 [4]. Company Capabilities - Haiwei Electronics is the only company with the capability to design and develop its own capacitor base film production lines. As of August 21, 2025, the company has five production lines that are self-designed, developed, and assembled, which helps overcome industry bottlenecks and supports capacity enhancement and cost control [4][5]. Product Specifications - The production lines designed by Haiwei Electronics have a delivery period of approximately eight months, significantly shorter than the industry average of three to five years for imported production lines. The investment cost for new production lines is estimated at around RMB 120 million, which is below the industry average in China [5]. Financial Performance - The revenue for Haiwei Electronics for the fiscal years 2022, 2023, 2024, and the five months ending May 31, 2025, were approximately RMB 327 million, RMB 330 million, RMB 422 million, and RMB 157 million, respectively. The net profit and total comprehensive income for the same periods were approximately RMB 102 million, RMB 69.8 million, RMB 86.4 million, and RMB 31.4 million [5][7].