Hubei Feilihua Quartz Glass (SZ:300395) Dong Jian Yan Bao·2025-09-04 14:12Group 1 - Report research object: Feilihua [16] - Industry: Non-metallic materials [16] - Reception time: September 4, 2025 [16] - Company reception personnel: Board Secretary Zheng Wei, Securities Affairs Representative Peng Wei [16] Group 2 - Detailed research institutions: CITIC Securities, Industrial Securities, Orient Fortune Securities, Jianxin Fund, Changsheng Fund, China Merchants Fund, Xitai Investment, and Quanguo Fund [17] Group 3 - Proportion of research institutions: 38% securities companies, 50% fund management companies, 13% investment companies [18] Group 4 - In 2025 H1, quartz electronic cloth achieved sales revenue of 13.1248 million yuan and is in the client small - batch testing and end - customer certification stage [21] - The company has vertical integration R & D and production capabilities across the entire quartz electronic cloth industry chain and has 7 - year R & D experience. It is also the leading supplier of quartz fiber for the aerospace field [23] - The company is a domestic leader in large - scale synthetic quartz glass materials manufacturing. It can produce TFT - LCD photomask substrates from G4.5 to G10.5 generations. The Hefei project can supply in batches and has small - batch shipments, while the Jinan project has completed the mass - production line for basic products and is optimizing the process [24] - The high - purity synthetic quartz sand project has entered the pilot - test stage; some products have formed mass - production capabilities, and some products are at the domestic leading level and have passed customer verification [25] - The company is a leading global and domestic supplier of quartz glass fiber in the aerospace field. In 2025 H1, quartz fiber demand recovered, and multiple high - performance composite product projects were successfully developed, with 1 project in mass production [26]