久日新材分析师会议-20250522

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints of the Report - The photopolymerization industry is gradually improving, and the company is a leading player in the photoinitiator field with advanced technology, strong new product development capabilities, and global influence [26]. - The application scenarios of the company's photopolymerization products are becoming more extensive, and the future development prospects are broad [28]. - The company is confident in achieving profitability as the prices of its main photoinitiators have rebounded, and it expects the production and sales of photosensitizers to reach a certain scale [28]. - The company's photosensitizers and photoresists have gradually achieved large - scale sales, which will bring new growth to the company [29]. 3. Summary According to Relevant Catalogs 3.1. Research Basic Situation - The research object is Tianjin Jiuri New Materials Co., Ltd., belonging to the chemical products industry. The reception time was May 22, 2025. The listed company's reception personnel included the chairman, president, independent director, vice - president, board secretary, and financial director [17]. 3.2. Detailed Research Institutions The reception objects included online investors, and the reception object type was related to institutional personnel and others [20]. 3.3. Research Institution Proportion No information provided. 3.4. Main Content Data - Product Application and Market Situation - The company's photoinitiators and photosensitizers can be used in the robot field, such as robot shells, components, and circuit boards [25]. - The company has business exchanges with a subsidiary of Huawei, and its photosensitizer products are in the trial - use stage [26]. - As of March 31, 2025, the company had 11,307 shareholders [26]. - The company's upstream raw material prices are relatively stable, and the prices of photoinitiators are gradually increasing [28]. - The company's photosensitizer products need to reach a certain scale of production and sales to achieve profitability [28][30]. - The company has launched new photoinitiator products, and its photosensitizers and photoresists have gradually achieved large - scale sales [29]. - The company's photosensitizers have signed multiple ton - level orders, and the sales of photoresists have exceeded one ton in total. The test performance indicators of related products can compete with similar imported products in the domestic market [30]. - Semiconductor and Chemical Materials - The company's semiconductor - related products include semiconductor i - line photoresists, LED g - line/h - line photoresists, panel photoresists, photosensitizers for photoresists, and other products, and it is also developing photo - acid generators [31]. - The company's 4,500 - ton photoresist production line started trial production in November 2024, and the sales have exceeded one ton while the production capacity is still in the climbing stage [31][38]. - Business Strategy and Response Measures - The company will seriously consider suggestions on mergers, acquisitions, and reorganizations [27]. - The company will strive to improve its operations, performance, and corporate value to bring good returns to investors [33]. - The company's exports to the United States account for a relatively low proportion of its total revenue, and most of its products are not within the scope of the previous US tariff increases [31]. - The company will start equity incentive work when the time is right [35]. - The company will actively look for suitable targets for mergers and acquisitions according to relevant policies [36]. - The company aims to achieve the localization of photosensitizers and photoresists using its photosensitizers as core raw materials to ensure the stability, continuity, and safety of the supply of corresponding photoresist products [36]. - The company is closely monitoring peer information and market changes and adjusting product prices in real - time [36].