RC(SZ:300596) Zheng Quan Shi Bao Wang·2025-11-28 07:16Core Viewpoint - Lianlong's investment in Shenzhen Stof New Materials Technology Co., Ltd. marks a strategic move into the electronic adhesive market, enhancing its product matrix and addressing the challenge of high-end material supply in China [1][2]. Group 1: Market Opportunity - The electronic adhesive market is valued at over 40 billion yuan, with a current domestic localization rate of only 20%-30% and high-end products below 10%, indicating significant room for domestic alternatives [2]. - The global electronic adhesive market is projected to grow from $5.1 billion in 2023 to $12.1 billion by 2033, with a compound annual growth rate (CAGR) of 9% [2]. - China's electronic adhesive market is expected to exceed 17 billion yuan by 2025, with a CAGR of 12%-15%, outpacing global growth rates [2]. Group 2: Technological Advancements - Stof has established itself as a key player in the electronic adhesive sector, with 87 patents covering essential resin systems [3]. - The company has achieved significant technological breakthroughs, including the development of anisotropic conductive adhesives that break foreign monopolies and high-refractive-index nano-imprinting adhesives that overcome industry barriers [3]. - Stof's core products are widely used across over 300 leading clients in high-end sectors such as smart terminals, new energy, and semiconductors [3]. Group 3: Strategic Collaboration - The investment will enable deep collaboration across the entire industry chain, with Lianlong providing its fine chemical industry chain and global marketing resources to support Stof's production and market expansion [4]. - Stof plans to use the investment to expand production capacity for high-end products, addressing domestic demand for electronic adhesives [4]. - Both companies share technological foundations in specialty polymer materials, allowing for shared R&D experiences and reduced market development costs due to overlapping customer channels [4].