格隆汇10月10日丨新宙邦(300037.SZ)在投资者互动平台表示，我司有机氟化学品业务板块根据发展战 略和产品地图，不断开发系列高端含氟化学品和功能材料。公司已经完成含氟聚酰亚胺单体和树脂的布 局，面向特定场景的聚酰亚胺薄膜产品正在开发中，柔性电子皮肤也是其中的一个方向。聚酰亚胺材料 凭借其优异的低介电损耗、柔韧性及热稳定性，为电子皮肤和柔性传感器提供了理想的基底与封装材料 选择。 ...

Group 1 - The core viewpoint of the news is that Zhejiang Fulai New Materials Co., Ltd. reported a mixed performance in its 2025 semi-annual report, with revenue growth but a decline in net profit [1] - The company achieved operating revenue of 1.334 billion yuan, a year-on-year increase of 15.40%, while net profit attributable to shareholders was 50.9348 million yuan, a year-on-year decrease of 19.58% [1] - The main revenue source, advertising inkjet printing materials, generated 623 million yuan, up 3.27% year-on-year, while label printing materials saw the fastest growth with revenue of 419 million yuan, a 28.42% increase [1] Group 2 - The company made significant technological advancements in the flexible sensor field, establishing its first pilot production line and launching the first and second generation of flexible tactile sensor products [1] - Fulai New Materials is collaborating with Zhejiang Tsinghua Flexible Electronics Technology Research Institute to build a joint laboratory focused on flexible electronic skin and ultra-wide pressure sensors [2] - The company accelerated its international expansion, achieving overseas revenue of 221 million yuan, a year-on-year increase of 17.11%, with a gross margin improvement of 2.25 percentage points to 31.32% [2]

Core Viewpoint - The company reported a revenue increase but a decline in net profit for the first half of 2025, indicating challenges in profitability despite growth in sales [1] Revenue and Profit Analysis - The company's revenue for the first half of 2025 was 1.334 billion yuan, a year-on-year increase of 15.40% [1] - The net profit attributable to shareholders was 50.93 million yuan, a year-on-year decrease of 19.58% [1] Product Performance - The main product, advertising inkjet printing materials, generated revenue of 623 million yuan, a growth of 3.27%, but experienced a decline in gross margin by 2.14 percentage points [2] - The label and identification printing materials segment saw significant growth, with revenue of 419 million yuan, up 28.42%, and an increase in gross margin by 1.32 percentage points [2] - Electronic-grade functional materials revenue reached 52.7 million yuan, a growth of 28.02%, but gross margin decreased by 2.57 percentage points [2] - Functional base film materials achieved revenue of 92.64 million yuan, a year-on-year increase of 19.87%, with a gross margin increase of 2.79 percentage points [2] Regional Performance - International business revenue was 221 million yuan, a year-on-year increase of 17.11%, with a gross margin improvement of 2.25 percentage points to 31.32% [3] - Domestic business revenue grew by 16.70% to 1.088 billion yuan, but gross margin declined by 2.12 percentage points to 11.33% due to intense market competition [3] New Business Development - The company is focusing on the flexible sensor business, which is in its early market development stage, and has made significant technological breakthroughs [4] - The first pilot production line for flexible sensors has been established and is capable of mass supply [4] - The company has launched the first and second generation of flexible tactile sensor products and is collaborating with research institutions to enhance product development [4][5] - The flexible sensor products are targeting high-growth applications in precision manufacturing, medical rehabilitation, service robotics, industrial automation, and more [5]

Core Viewpoint - The article highlights the recent angel round financing of "Modulus Technology," a startup specializing in tactile and flexible sensor technology, which raised tens of millions in funding to enhance product development, market promotion, and team building [1]. Company Overview - Modulus Technology, established at the end of 2024, focuses on multi-modal and multi-dimensional tactile sensing technology and tactile model research and application [1]. - The company offers a complete tactile perception solution, covering sensor materials, hardware, software, algorithms, and full systems [1]. Team Composition - The founder, Guan Hua, has extensive experience in strategic cooperation and investment in the supply chain chip, sensor, and smart hardware sectors [2]. - Co-founder Zhou Jianlin has a background in polymer materials and has led product introduction and business expansion in a well-known 3D printing company [2]. - The core team consists of nearly 20 members, with over 80% in R&D, covering key areas such as algorithms, hardware, software, and sensors [2]. Product Development and Business Expansion - Modulus Technology has developed high-sensitivity sensing materials and micro-structural processes, significantly improving sensor range, accuracy, and sensitivity [4]. - The company has created a flexible pressure sensing array that can be produced at low cost and in large quantities, addressing the high customization and production costs in the tactile sensor industry [4]. - The maximum pressure range achieved is 20 MPa, with linearity reaching 99.9%, comparable to international competitors [4]. Technological Advancements - The company has established a multi-dimensional tactile perception chain, enabling robots and dexterous hands to have richer and more precise sensing capabilities [5]. - Modulus Technology has built a full-stack R&D capability, providing a complete toolchain for sensor data collection, calibration, and software analysis [5]. Product Matrix - The core products include robotic tactile sensors, industrial pressure distribution detection devices, fabric-based flexible sensors, and flexible film sensors [6]. - The company has secured orders from leading companies in the humanoid robot and dexterous hand sectors, and is in the mass delivery phase [6]. - Collaborations have been established with top clients in robotics and industrial fields, as well as in consumer electronics segments like smart cockpits and wearables [6].

Group 1 - Specialty plastics are key materials supporting high-end manufacturing, new energy, and aerospace industries, with a global market size of 94 billion yuan in 2022 and a compound annual growth rate (CAGR) of 9.58% from 2018 to 2022 [2][8] - The Chinese specialty engineering plastics market reached 13.5 billion yuan in the same period, accounting for 14% of the global market, but the self-sufficiency rate was only 36% in 2021 [8] - Major types of specialty plastics include polycarbonate, specialty polyamide, polyimide, polyether ether ketone (PEEK), and polysulfone [2][8] Group 2 - PEEK material exhibits excellent high-temperature resistance, chemical corrosion resistance, high strength, rigidity, and good dimensional stability, making it ideal for high-end manufacturing applications, including humanoid robots [3][12] - The long-term usage temperature of PEEK can reach 260°C, with short-term usage temperatures exceeding 300°C, maintaining good mechanical properties even in high-temperature environments [3][9] - PEEK's production involves high barriers due to its complex manufacturing process, which includes multiple steps and requires precise control of temperature and pressure [15][13] Group 3 - PI (polyimide) is recognized for its excellent flame retardancy, electrical insulation, mechanical properties, and chemical stability, making it one of the most promising engineering plastics of the 21st century [4][35] - The global flexible sensor market is projected to reach 6.51 billion USD in 2024, with expectations of explosive demand driven by the rapid development of the robotics industry [4][35] - The supply of high-end polyimide is currently dominated by foreign companies, with domestic manufacturers focusing mainly on lower-end products [44][35] Group 4 - The humanoid robot market in China is estimated to be between 2 to 5 billion yuan, with projections suggesting it could grow to 50 to 500 billion yuan by 2035 [27][28] - PEEK material is expected to replace certain structural components in humanoid robots, with a potential value contribution of approximately 1,367 to 4,102 yuan per robot [25][24] - The competition in the PEEK market is intensifying, with international companies currently leading but domestic firms rapidly advancing in technology and market share [28][31]