新广益开启申购 已实现对苹果高端耳机产品声学膜材料的配套
Zhi Tong Cai Jing·2025-12-21 22:55

Core Viewpoint - New Guangyi (301687.SZ) has launched its IPO with an issue price of 21.93 CNY per share and a price-to-earnings ratio of 28.59 times, focusing on high-performance specialty functional materials [1] Company Overview - New Guangyi specializes in the R&D, production, and sales of high-performance specialty functional materials, including anti-overflow adhesive films and strong resistance specialty films [1] - The company has developed high-precision acoustic films with a thickness tolerance of ±1um and excellent temperature resistance (high temperature 200℃, low temperature -30℃) [1] - New Guangyi's acoustic films are already being supplied to Apple's high-end headphone products through cooperation with Goer Acoustic [1] Business Expansion - In 2024, the company aims to expand its business into the new energy sector, processing materials like EVA and POE into photovoltaic backsheet adhesive films and new energy battery materials [1] Revenue Breakdown - The main business revenue by product category for New Guangyi is as follows: - Anti-overflow adhesive films: 16,417.96 million CNY (52.43%) in H1 2025 - Strong resistance specialty films: 7,272.05 million CNY (23.22%) in H1 2025 - New energy materials: 3,941.97 million CNY (12.59%) in H1 2025 - Optical adhesive films: 906.95 million CNY (2.90%) in H1 2025 [1] Market Outlook - The Chinese functional film materials market is expected to reach 162.3 billion CNY in 2024, with a year-on-year growth of 8.9%, driven by demand from new displays, new energy, and energy-saving sectors [1] - Optical functional films represent the largest segment of the market, accounting for 39.6% of the product structure in 2024 [1] Financial Performance - The company reported revenues of approximately 455 million CNY in 2022, 516 million CNY in 2023, and 657 million CNY in 2024, with net profits of approximately 81.51 million CNY, 83.28 million CNY, and 116 million CNY respectively [2] - As of June 30, 2025, total assets amounted to 885.28 million CNY, with equity attributable to shareholders of 738.69 million CNY and a debt-to-asset ratio of 16.52% [3]