格隆汇12月2日丨祥和实业(603500.SH)在投资者互动平台表示，和之祥是一家专注于高分子材料改性， 运用辐照改性技术对传统PTFE及复合材料迭代升级的公司。经辐照改性的PTFE，其抗耐磨性、抗蠕变 性、抗辐射性同步大幅度提高，孔隙率显著降低。可应用于机械密封系统、具身智能、汽车热管理系 统、深海深空深地、高频高速电路板、半导体零部件及医用器件等，已与国内行业内部分企业建立合作 关系，同时还可应用于核电、电磁隐身系统、低轨道卫星、空间站建设等国防科技领域。辐照改性 PTFE—PEEK材料，可应用于关节模组及减速器行星轮等。辐照改性PTFE复合材料可应用于滑动轴承 内衬等，提高传动组件的自润滑性和耐久寿命。 根据和之祥公开资料，目前其已与三花汽零、双环传 动等企业开展技术交流，探讨合作。并在今年11月中旬，和之祥作为支持单位之一，在杭州召开"2025 氟塑料加工技术交流会暨氟塑料加工专委会年会"，进一步展示了和之祥在氟塑料领域创新实力。 ...

Company Overview - Tianyouwei, a newly listed company, is noted for being the most expensive new stock in the past year and has the lowest first-day increase, closing at a mere 24.06% rise [1] - The company raised a total of 5.02 billion yuan through the issuance of 30.4 million shares, with plans to invest in digital smart factory construction, expansion projects, and a new R&D center [3] Industry Insights - The company operates in the automotive thermal management system sector, which is crucial for temperature control and cooling in vehicles, enhancing fuel efficiency and comfort [2] - Major global players in this market include Denso, Hanon Systems, Mahle, and Valeo, which collectively hold about 50% of the global market share [2] - The market for automotive thermal management systems in China is projected to exceed 100 billion yuan by 2025, while the global market could surpass 300 billion yuan [2] Performance Metrics - The company is expected to achieve revenues of 713 million yuan, 822 million yuan, and 978 million yuan from 2022 to 2024, with year-on-year growth rates of 20.21%, 15.25%, and 19.00% respectively [3] - Net profit attributable to shareholders is forecasted to be 78 million yuan, 83 million yuan, and 95 million yuan for the same period, with growth rates of 60.87%, 5.42%, and 15.55% respectively [3] Valuation and Market Position - The dynamic price-to-earnings (P/E) ratio for Tianyouwei is 21, which is comparable to the average P/E ratio of peer companies at 22 [4] - Recent new stocks have shown strong first-day performance, with an average increase of 220% in the past month, and Tianyouwei's potential first-day increase is estimated to be between 214% and 240% [4][5] - Given the lack of significant valuation advantages and the average pricing, the upper limit for Tianyouwei's first-day increase is adjusted to 110%, corresponding to a price ceiling of 34.65 yuan [5]