Summary of 3D Chemical Conference Call Company Overview - **Company**: 3D Chemical - **Industry**: Chemical Engineering, specifically in sulfur recovery and chemical products Key Points and Arguments 1. **Market Position**: 3D Chemical holds a leading position in the sulfur recovery engineering sector, having completed over 250 installations, particularly in the petrochemical and coal chemical industries [2][4][6] 2. **Financial Performance**: In the first half of 2025, the company reported revenues of approximately 12.5 billion yuan and a net profit of about 1.2 billion yuan, reflecting a year-on-year profit growth of over 40% [4][20] 3. **Revenue Breakdown**: - **Sulfur Recovery**: Generated around 5 billion yuan in revenue with a profit of about 50 million yuan [2][4] - **Chemical Products**: The chemical segment, primarily through the Zibo Nuoao facilities, achieved revenues of approximately 7 billion yuan, with profits ranging from 60 million to 70 million yuan [2][4] - **Catalyst Segment**: Smaller scale, with revenues of 200 to 300 million yuan and profits between 10 million to 20 million yuan [2][4] 4. **Future Growth**: The company has a backlog of orders exceeding 16 billion yuan, with new contracts signed this year surpassing 1 billion yuan, ensuring business growth for the next three to five years [2][5][6] 5. **New Projects**: The company is advancing projects in acetic acid cellulose and related products, with high-margin products expected to enhance profitability by the end of next year [2][5][8] 6. **Investment Strategy**: Plans to maintain a dividend payout ratio of over 70% and no major capital expenditures in the next three years, focusing instead on potential acquisitions for growth [2][18] 7. **Technological Development**: Currently testing hydrogen sulfide electrocatalytic separation technology, which could revolutionize the sulfur recovery industry [3][19] 8. **Profit Margins**: The profit margin for ongoing projects is gradually improving, with expectations of reaching over 15% as revenue recognition increases [9] 9. **Order Contributions**: The Xinjiang coal chemical sector contributed over 30% of new orders this year, amounting to approximately 4 billion yuan [10][12] 10. **Project Profitability**: Design projects are expected to yield profit margins of 40% to 50%, while construction projects are estimated at 20% to 25% [13] Additional Important Information - **Market Demand**: The domestic demand for acetic cellulose is significant, with a market capacity of around 600,000 to 700,000 tons, and the company aims to capture a portion of this market with its new production lines [16][17] - **Stock Incentives**: The company is considering a stock incentive plan to align management interests with shareholder value, although practical implementation details are still being worked out [21]

Core Insights - Hefei Taojian Precision Rubber and Plastic Technology Co., Ltd. has been established with a registered capital of 1 million RMB [1] - The legal representative of the company is Wang Liqing [1] - The company's business scope includes new material technology promotion services, new material technology research and development, synthetic material manufacturing (excluding hazardous chemicals), rubber product manufacturing and sales, first-class medical device production, seal manufacturing and sales, mold manufacturing and sales, and manufacturing of plastic processing special equipment [1]

Core Viewpoint - Anhui Zhonghui Lithium Energy New Energy Technology Co., Ltd. has been established with a registered capital of 10 million RMB, focusing on various technological developments and services in the new energy sector [1] Company Summary - The company is legally represented by Tan Xiaohui and has a registered capital of 10 million RMB [1] - The business scope includes research and development in resource recycling technology, carbon fiber recycling technology, energy recovery systems, and new materials technology [1] - The company also offers services related to the recycling and secondary utilization of used power batteries from new energy vehicles, excluding hazardous waste operations [1] Industry Summary - The company is involved in the sales of batteries, graphite and carbon products, electronic materials, synthetic materials, and high-performance non-ferrous metals and alloys [1] - It engages in import and export activities, including technology import and export, as well as agency services for imports and exports [1]

Core Viewpoint - The company is actively exploring applications of its vacuum packaging technology and new material solutions in various sectors, including new energy vehicles and industrial applications, while also monitoring potential opportunities in robotics [2] Group 1: Product Applications - The automatic inflatable mattress developed using vacuum packaging technology can be utilized as a sleeping pad in new energy vehicles [2] - The self-developed functional adhesive mushroom buckle products can replace traditional mechanical fastening methods, eliminating the need for drilling, screwing, or sewing, and are widely applicable in industries such as aviation, automotive, and home decor [2] - The company is exploring the application of new material technology solutions in battery component protection and transportation, leveraging its expertise in flexible protection and high shear energy absorption [2] Group 2: Future Prospects - Currently, the company's material technology has not been applied in the robotics sector, but it will continue to monitor new fields and opportunities for material applications [2] - The company commits to timely disclosure of any relevant business expansions in the future [2]

企查查APP显示，近日，东方雨虹（广东）新材料科技有限公司成立，法定代表人为李勇，注册资本 3000万人民币，经营范围包括新材料技术推广服务、建筑装饰材料销售、建筑防水卷材产品销售等。企 查查股权穿透显示，该公司由东方雨虹（002271）间接全资持股。 （原标题：东方雨虹在广东成立新材料科技公司） ...

Core Insights - Wenzhou Yunda Intelligent Storage New Energy Co., Ltd. has been established, focusing on new material technology research and energy management services [1] - The company is wholly owned by Yunda Co., Ltd. through its subsidiary Yunda Intelligent Storage Technology (Hebei) Co., Ltd. [1] Company Information - Legal representative: Sun Jian [2] - Registered capital: 1 million yuan [2] - Business scope includes: new energy technology promotion, battery component production and sales, energy management contracts, storage technology services, and solar thermal utilization equipment sales [2] - The company is located in Wenzhou, Zhejiang Province, and is registered until August 8, 2025 [2] - The company type is a limited liability company with non-natural person investment [2]

Core Viewpoint - Hebei Keli Automotive Equipment Co., Ltd. demonstrates unique advantages and development potential in the automotive equipment sector through recent institutional research activities [1][2]. Group 1: Company Overview - The company held an investor activity on September 19, 2025, attended by representatives from Shanxi Securities and company executives, including Chairman Zhang Wanwu and Secretary Zhang Jing [1]. - The company introduced its basic situation, industry overview, investment highlights, and development prospects during the event [1]. Group 2: Technological Advancements - The company has achieved a full-process technological breakthrough in its anti-VOC pollution light-absorbing coating technology, which is set to be gradually mass-produced based on market demand [1]. - New technologies in the field of assisted driving are expected to gain further popularity with the increasing penetration of new energy vehicles, with successful project switches to major clients like Volkswagen, Geely, and Chery [1]. Group 3: Strategic Development - The company adopts a dual-driven strategy of "smart driving components leader + new materials technology engine," focusing on enhancing customer stickiness and global business layout to increase market share [2]. - With the gradual increase in new energy vehicle penetration, the company's products are expected to see both volume and price increases, alleviating capacity shortages post-investment project implementation [2]. Group 4: Competitive Advantages - The company's gross margin is significantly higher than the industry average due to its technological advantages, having developed multiple first-time applications for brands like BMW, Volvo, and NIO [3]. - The company has established deep supply chain collaborations with leading glass manufacturers, allowing it to secure high-difficulty orders at relatively higher prices [3]. - The early adoption of information management systems and intelligent operation systems has led to a unique production model, enabling continuous management improvement and cost advantages [3].

Group 1 - A new company, Foshan Yukun Metal Materials Co., Ltd., has been established with a registered capital of 3.3 million RMB [1] - The legal representative of the company is Fan Jingcheng [1] - The company's business scope includes metal materials sales, new materials technology research and development, and recycling of production waste metals [1] Group 2 - The company is involved in various activities such as import and export, trade brokerage, and domestic trade agency [1] - It also focuses on the sales of non-ferrous metal alloys, chemical products (excluding licensed chemical products), and intelligent storage equipment [1] - The company provides services related to the Internet of Things, artificial intelligence system integration, and digital video monitoring systems [1]

Group 1 - Heilongjiang Province Brick Kiln Technology Co., Ltd. has been established with a registered capital of 10 million RMB [1] - The legal representative of the company is Song Desheng [1] - The business scope includes technology services, development, consulting, and transfer, as well as manufacturing and sales of various construction materials [1] Group 2 - The company is involved in the manufacturing of new building materials, ecological environment materials, and cement products [1] - The company is authorized to conduct business activities independently based on its business license, except for projects that require approval [1]

Core Viewpoint - Recently, Ningxia Jiarui Chemical Technology Co., Ltd. was established with a registered capital of 30 million RMB, focusing on various chemical products and materials manufacturing and sales [1] Group 1: Company Overview - The legal representative of the newly established company is Xiao Bing [1] - The registered capital of the company is 30 million RMB [1] Group 2: Business Scope - The company’s business scope includes the sales and manufacturing of petroleum products (excluding hazardous chemicals) [1] - It also covers the production and sales of synthetic materials, chemical products, engineering plastics, and specialized chemical products [1] - The company is involved in the manufacturing and sales of high-quality synthetic rubber, high-performance fibers, and composite materials [1] - Additional activities include the development and sales of bio-based materials, graphite and carbon products, and new catalytic materials and additives [1] - The company offers various technical services, management consulting, and logistics services [1]