新材料投资：从北交所，看新材料产业投资与机遇（附PPT）

Core Viewpoint - The new materials industry in China is experiencing a historic development window driven by domestic substitution becoming a necessity and the emergence of new production demands. The Beijing Stock Exchange (北交所) serves as a core platform for innovative small and medium enterprises, gathering a number of "invisible champions" in niche markets [4][8]. Group 1: Overview of the New Materials Industry on the Beijing Stock Exchange - The new materials industry is categorized into five major segments: non-metal functional materials, new energy materials, polymer and composite materials, metal materials, and fine chemicals [6][10]. - Companies listed on the Beijing Stock Exchange typically focus on niche markets, demonstrating high technical barriers, high gross margins, and rapid growth [7][10]. - The industry is characterized by a high degree of specialization, with many companies being in the early to mid-stages of development, offering significant growth potential [7][10]. Group 2: Investment Themes in New Materials - The investment focus is on domestic substitution and new production capabilities, particularly in semiconductor materials and lightweight, high-performance materials for robotics and low-altitude economies [8][16]. - Key companies in semiconductor materials are making breakthroughs in critical areas such as photoresists and electronic gases, which are essential for the semiconductor supply chain [17][26]. - The demand for lightweight and high-performance materials is driven by new applications in robotics and low-altitude economies, creating new market opportunities [30][31]. Group 3: Future Outlook and Target Companies - The new materials industry is expected to transition from scale advantages to quality advantages, focusing on high-end breakthroughs and domestic substitution [4][42]. - Specific directions for development include the high-endization of bulk materials, the localization of electronic chemicals, and the upgrading of new energy materials [42]. - Companies such as 贝特瑞 (BTR), 安达科技 (Anda Technology), and 民士达 (Minsida) are highlighted as key players in the new energy materials sector, focusing on battery materials and lightweight structural components [17][33]. Group 4: Methodology for Investment Tracking - A three-dimensional analysis framework is proposed, focusing on demand drivers, core competitiveness, and industry value chain positioning [4][11]. - Key indicators for tracking investment value include capacity release, price signals, product breakthroughs, and customer certifications [11][12]. - The investment strategy should revolve around industry trends, selective stock picking, and identifying incremental opportunities, particularly in companies with technological leadership and strong customer ties [4][12].