Charles Zhuang 庄怀超 SFC CE: BTE209 微信: zhuangcharles; 电话: (852) 9748 7114; 28 Dec 2025 含硫硅烷领先企业，牵手迈图丰富硅烷产品矩阵 Leading sulfur-containing silane enterprise & Partnering with Maitu to enrich the silane product matrix 最新动态 动向解读 ➢ 含硫硅烷领先企业，丰富产品矩阵。公司主要从事功能性硅烷、纳米硅材料等硅基新材料及 其他化学助剂的研发、生产与销售，含硫硅烷偶联剂产品已经连续六年在全球和国内的市场 均排名第一，已成为全球规模最大的含硫硅烷生产企业。近两年新增建设并投产了氨基硅烷、 环氧基硅烷、苯基硅烷、巯基硅烷、酰氧基硅烷、高温硅橡胶、二氧化硅气凝胶等系列功能 性硅烷产品及硅基新材料产线，大大丰富了产品矩阵。 风险提示 环球富盛理财有限公司 宏柏新材 Jiangxi Hungpai New Material (605366.SH) ➢ 宏观经济波动及市场竞争的风险；原材料、能源价格波动的风险；安全生产的 ...

Financial Performance - The company's total revenue for the first half of 2025 was 517 million yuan, a decrease of 10.39% year-on-year [1] - The net profit attributable to shareholders was -4.29 million yuan, representing a decline of 110.23% compared to the previous year [1] - The gross margin was 12.17%, down 18.25% year-on-year, while the net margin was -0.84%, a decrease of 111.58% [1] - The total of selling, administrative, and financial expenses reached 51.94 million yuan, accounting for 10.04% of total revenue, an increase of 94.83% year-on-year [1] - Earnings per share were -0.01 yuan, a drop of 107.69% compared to the previous year [1] Business Model and Industry Outlook - The company's return on invested capital (ROIC) was 0.89%, indicating weak capital returns, with a historical median ROIC of 27.59% since its listing [3] - The business model relies heavily on R&D and capital expenditures, necessitating careful evaluation of the effectiveness of these investments [3] - The industry is experiencing structural overcapacity, leading to intensified competition that compels companies to enhance R&D, optimize production processes, and improve waste management [4] - Long-term growth in the functional silane and silicon-based materials industry is driven by technological advancements and increasing demand from sectors like new energy and composite materials [4][5] - Leading companies are expected to maintain a dominant position globally by leveraging green circular economy practices and technological upgrades [5]