国内唯一！化工新材料龙头，半导体树脂材料量产

Core Viewpoint - The article highlights the advancements and market potential of M9 materials produced by Huihong Technology, a subsidiary of Meilian New Materials, which has achieved mass production of EX resin, a key component for electronic materials, marking a significant milestone in domestic production capabilities [2][3]. Group 1: Company Developments - Huihong Technology has successfully launched mass production of M9 materials, specifically EX resin, becoming the only domestic company to achieve this milestone [2]. - The production line for EX resin has an annual capacity of 200 tons, with plans to expand to 500 tons by 2024 [2]. - Meilian New Materials reported a revenue of 878 million yuan in the first half of 2025, reflecting a year-on-year growth of 3.10% [2]. Group 2: Market Insights - The global market for EX resin is projected to reach approximately 500-800 million yuan by 2025, with a domestic market share of 30%, and Meilian New Materials/Huihong Technology holding over 60% of this market [3][5]. - The EX resin is crucial for various applications, including communication devices, AI servers, and semiconductor packaging, indicating a broad market potential [3]. Group 3: Technological Advancements - Huihong Technology has overcome significant technical barriers previously dominated by Japanese imports, particularly in the production of special resins for 5G/6G communications [3]. - The M9-grade copper-clad laminates (CCL) are set to be utilized in NVIDIA's upcoming AI graphics cards, highlighting the demand for high-performance materials in advanced technology applications [4].