Hangzhou Juheshun New Material (SH:605166) Dong Jian Yan Bao·2025-11-05 13:53Group 1: Report Summary 1. Reported Industry Investment Rating - No information provided 2. Core Viewpoints - After the resolution to cancel the board of supervisors is passed at the general meeting on November 12, 2025, the audit committee will take over the relevant duties of the former board of supervisors, and independent directors will play a key role in corporate governance [24] - The company focuses on R & D innovation, has a unique production supporting system, and is committed to cost - reduction and efficiency - enhancement. It will continue to adhere to important strategies such as innovation - driven development and sustainable development [25] - The company has no dividend plan in the third quarter of 2025 [26] - In the first three quarters of 2025, the company's R & D expenses were 14,281.62 million yuan, and it had 15 invention patents and 58 utility model patents as of the end of the first half - year. It will continue to expand and research in the field of high - value - added products [26] - The company has multiple high - end and differentiated engineering plastic - grade nylon models. In the first half of 2025, engineering plastic - grade slices accounted for 30.64% of the income, and can be widely used in many downstream industries [27] 3. Summary by Directory (1) Research Basic Situation - Research object: Jvheshun [17] - Industry: Chemical products [17] - Reception time: November 5, 2025 [17] - Reception personnel: Company chairman Fu Changbao, general manager Mao Xinhua, financial director Yao Shuangyan, board secretary Chen Xiaowen, independent directors Zhou Mingsheng, Han Linjing, and Yin Dejun [17] (2) Detailed Research Institutions - Institutions and personnel: Investors, urban commercial banks [20] (3) Research Institution Proportion - No information provided (4) Main Content Data - Regarding the change of independent directors' responsibilities: After the resolution to cancel the board of supervisors is passed, the audit committee will take over the relevant duties of the former board of supervisors, and independent directors will play a more important role in corporate governance [24] - Company's competitiveness and development strategy: The company focuses on R & D innovation, has cost advantages, a unique production supporting system, and a wide - range sales network. It will continue to adhere to important strategies and strengthen its competitive advantages [25] - Dividend plan: There is no dividend plan in the third quarter of 2025 [26] - R & D investment and patents: In the first three quarters of 2025, R & D expenses were 14,281.62 million yuan. As of the end of the first half - year, there were 15 invention patents and 58 utility model patents. Future R & D will focus on high - value - added products [26] - R & D direction of engineering plastics: The company has multiple high - end and differentiated engineering plastic - grade nylon models. In the first half of 2025, engineering plastic - grade slices accounted for 30.64% of the income and can be widely used in many downstream industries [27]