【生物基能源与材料】获悉，据中国证券监督管理委员会网上办事服务平台信息显示，2025年12月29日，宁波证监局受理了宁波昌亚新材料科技股份有限公 司（简称：昌亚股份）提交的首次公开发行股票并上市辅导备案的申请。 | CARE | | 全国一体化在线政务服务平台 | | | | | | --- | --- | --- | --- | --- | --- | --- | | | | | 中国证券监督管理委员会网上办事服务平台(试运行) | | | | | 公开发行辅导公示 | | 辅导对象 | 辅导机构 辅导状态 备案时间 | | 派出机构 报告类型 | 报告标题 | | 北京 | 1 天津 | 宁波昌亚新材料科技股份有 限公司 | 国泰海通证券股份有限公司 2025-12-29 乌导备案 | | 宁波证监局 辅导备案报告 | 关于宁波昌亚新材 ... | | 河北 | 山西 | | | | | | | | | 宁波玉健健康科技股份有限 | | | | | | II 内蒙古 | 辽宁 | 公园 | 开源证券股份有限公司 | 2025-04-30 辅导工作完成 宁波正监局 辅导工作完成报告 关于宁波玉健健康 ... ...

Core Viewpoint - Lianhong Xinke has successfully launched two major new energy material projects, enhancing its product portfolio and industry chain advantages, which is expected to positively impact the company's performance [1][2]. Group 1: Project Launches - The company’s subsidiary, Shandong Huayu Tongfang Electronic Materials Co., has successfully put into operation a 4,000 tons/year lithium battery additive, vinyl carbonate (VC), on December 22, 2025 [1]. - Another subsidiary, Lianhong Gelun (Shandong) New Materials Co., has also launched its integrated project for new energy materials and biodegradable materials [1]. - The VC product is currently the most widely used additive in lithium battery electrolytes, significantly improving battery capacity and cycle life [2]. Group 2: Market Demand and Future Projections - The lithium battery industry is experiencing increased demand driven by sectors such as power, energy storage, and low-altitude economy, leading to a rapid rise in market prices for lithium solvents and additives [2]. - Industry forecasts predict that the demand for power and energy storage batteries will grow by over 30% by 2026, with energy storage batteries potentially increasing by more than 50% [2]. Group 3: Production Capacity Expansion - The integrated project will add a 300,000 tons/year propylene oxide (PO) facility, a natural gas hydrogen production facility, a 1.3 million tons/year methanol-to-olefins (MTO) facility, a 200,000 tons/year EVA facility, and a 240,000 tons/year polyether polyol (PPG) facility [2]. - With the new facilities, Lianhong Xinke will have two 1.3 million tons/year MTO plants, ensuring stable and sufficient raw material supply [2]. - The total EVA production capacity will exceed 350,000 tons/year, and the PPG facility will utilize industry-leading continuous processing technology [2]. Group 4: Financial Performance - In the first three quarters, the company achieved a revenue of 4.568 billion yuan, a year-on-year decrease of 8.02%, while net profit reached 232 million yuan, a year-on-year increase of 30.32% [3]. - The company benefited from price increases in key products like EVA and UHMWPE, with a significant net profit increase of 90.9% in the third quarter alone, amounting to 71.73 million yuan [3].

| 2026未来产业新材料博览会 | （FINE），围绕机器人、汽车、无人机、数据中心、航空航天、AI、新能 | | | --- | --- | --- | | 源等未来产业共性需求，特设6大展区， 其中 | 轻量化高强度与可持续材料展区 | 聚焦 | | 碳纤维、高分子和改性塑料、可持续材料等 | ， | 欢迎咨 | | 询：18957804107 | | | 【DT新材料】 获 悉，12月22日， 联泓新科 公告，控股子公司 联泓格润（山东）新材料有限公司 投资建设的新能源材料和生物可降解材料一体化项 目（以下简称"联泓格润一体化项目"）主要装置近日成功投产。 该 项目总投资125亿元， 位于山东省滕州市鲁南高科技化工园区，2024年4月开工建设，2025年9月实现整体中交， 其中：30万吨/年环氧丙烷 （PO）装置和天然气制氢装置于 12 月 22 日投产，130 万吨/年甲醇制烯烃（MTO）装置和20万吨/年乙烯-醋酸乙烯共聚物（EVA）装置于12月 10日投产，24万吨/年聚醚多元醇（PPG）装置于11月5日投产 。 PO产品可为 PPG 装置和后续投产的 生物可降解材料5 万吨/年聚碳酸亚丙酯 （ ...

中粮科技（000930.SZ）12月11日在投资者互动平台表示，公司年产3万吨丙交酯项目预计明年投产，丙 交酯是生物可降解材料的关键中间体，高端应用前景广阔。未来，公司将继续探索通过生物科技为更多 领域提供安全、健康、环保的产品解决方案。具体业务情况请以公司官方披露信息为准。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：现在进入航天年代，公司有没有什么产品适合航天使 用？ ...

Core Viewpoint - The company Lianhong Xinke plans to increase its investment in its subsidiary Jiangxi Academy of Biological New Materials Co., Ltd. by 150 million yuan to enhance its strategic development in biodegradable materials [2][3]. Group 1: Investment and Capital Structure - The investment will consist of 88.5 million yuan added to registered capital and 61.5 million yuan to capital reserves, aimed at improving the subsidiary's working capital and asset-liability structure [2]. - Following the capital increase, Lianhong Xinke's ownership in Jiangxi Academy will rise from 51% to 65.7%, increasing the subsidiary's registered capital from 207 million yuan to 295 million yuan [3][4]. Group 2: Business Focus and Financial Performance - Jiangxi Academy focuses on the research, production, and sales of lactic acid and polylactic acid, which are key components in the biodegradable materials sector [2]. - For the fiscal year 2024, Jiangxi Academy reported revenues of 4.836 million yuan and a net loss of 2.2296 million yuan. In the first three quarters of 2025, revenues increased to 52.8966 million yuan with a net profit of 15.7672 million yuan [5].

Core Viewpoint - Henghui Security (300952) announced on October 24 that it is steadily advancing its planned annual production of 110,000 tons of biodegradable polyester rubber through a "one-time planning, three-phase construction" model [1] Group 1: Project Development - The first phase of the project, which involves 10,000 tons, officially commenced construction in August 2024 [1] - The project is currently in the process of public auxiliary engineering and core equipment installation [1] - The company aims to achieve stable production of qualified rubber materials that meet design performance requirements by the end of 2025 [1] Group 2: Strategic Goals - The project is expected to accumulate valuable experience for subsequent project construction and market expansion [1] - The initiative will help the company seize development opportunities in the biodegradable materials sector [1] - The project is part of the company's strategy to enhance its core competitiveness and improve its industrial chain layout [1]

Investment Rating - The investment rating for the company is "Buy" and is maintained [9] Core Views - The company's revenue for the first three quarters of 2025 was 4.568 billion yuan, a year-on-year decrease of 8.02%. However, the net profit attributable to the parent company was 232 million yuan, an increase of 30.32% year-on-year, and the net profit excluding non-recurring items was 233 million yuan, up 55.14% year-on-year [2][6] - In Q3 2025, the company achieved revenue of 1.657 billion yuan, a year-on-year increase of 0.21% and a quarter-on-quarter increase of 20.73%. The net profit attributable to the parent company was 72 million yuan, a year-on-year increase of 90.90%, but a quarter-on-quarter decrease of 19.63% [2][6] - The demand for EVA (Ethylene Vinyl Acetate) is expected to maintain steady growth, with a projected compound annual growth rate of 11.2% over the next five years, reaching a demand of 5.35 million tons by 2029 [2][6] - The company is progressing with several new projects, including the "New Energy Materials and Biodegradable Materials Integration Project" and the "Lithium Battery Additive VC Project," which are on track for completion by the end of 2025 [2][6] Summary by Sections Financial Performance - For the first three quarters of 2025, the company reported total revenue of 4.568 billion yuan, a decrease of 8.02% year-on-year. The net profit attributable to the parent company was 232 million yuan, an increase of 30.32% year-on-year, while the net profit excluding non-recurring items was 233 million yuan, up 55.14% year-on-year [2][6] - In Q3 2025, the company achieved revenue of 1.657 billion yuan, a slight increase of 0.21% year-on-year and a significant increase of 20.73% quarter-on-quarter. The net profit attributable to the parent company was 72 million yuan, reflecting a substantial year-on-year increase of 90.90%, although it decreased by 19.63% compared to the previous quarter [2][6] Market Outlook - The EVA market is projected to grow significantly, with the domestic installed capacity expected to reach 277.6 GW in 2024, a year-on-year increase of 28.3%. The global installed capacity is expected to reach 599 GW in 2024, a growth of 34.9% [2][6] - The demand for UHMWPE (Ultra-High Molecular Weight Polyethylene) is also expected to grow, with a projected annual compound growth rate of 10.4% from 2023 to 2028 in China [2][6] Project Development - The company is advancing several key projects, including the "New Energy Materials and Biodegradable Materials Integration Project," which is over 80% complete and expected to be operational by the end of 2025. Other projects, such as the "Thermoplastic Polyethylene Elastomer (POE) Project," are also on schedule for completion [2][6]

Core Insights - The Lianhong Gelun integrated project for new energy materials and biodegradable materials has achieved overall handover in Zaozhuang, Tengzhou, and is expected to be fully operational by the end of this year [1] - The project represents a significant investment of 12.5 billion yuan and covers an area of approximately 1,700 acres, with production capacities including 1.3 million tons/year of methanol-to-olefins (DMTO), 200,000 tons/year of ethylene-vinyl acetate copolymer (EVA), 300,000 tons/year of propylene oxide (PO), 50,000 tons/year of polycarbonate (PPC), and 240,000 tons/year of polyether polyols (PPG) [1] - The project commenced site leveling in February 2023 and will see full construction starting in April 2024, with peak on-site personnel exceeding 12,000 [1] - The chairman of Lianhong Group emphasized the project's importance in solidifying the company's future development and aims for it to become a model of safety, innovation, and efficient operation in the industry [1] Future Plans - By the end of 2025, all projects planned under Lianhong's strategic phase 2.0 are expected to be implemented, leading to clearer business segments in new energy materials, biological materials, electronic materials, and specialty materials, with a richer product variety and enhanced scale [2]

Core Viewpoint - Henghui Security (300952) announced on September 22 that it is steadily advancing its planned annual production of 110,000 tons of biodegradable polyester rubber project using a "one-time planning, three-phase construction" model [1] Group 1: Project Development - The first phase of the project, which involves 10,000 tons, officially commenced in August 2024 and is progressing according to the established plan [1] - The company aims to achieve stable production of qualified rubber materials that meet design performance requirements, accumulating valuable experience for subsequent project construction and market expansion [1] Group 2: Market Strategy - The market sales price of biodegradable rubber will consider multiple factors, including raw material costs, industry technology added value, market supply and demand dynamics, and policy guidance [1] - The pricing strategy will be developed to ensure competitiveness, aligning price levels with product value and market acceptance [1] Group 3: Customer Development - The company is actively conducting market engagement work in line with the commercialization progress, having established preliminary communication with potential customers in downstream application fields [1] - Some cooperation intentions are in the deepening negotiation stage, and the company will continue to leverage its technological advantages and product characteristics to steadily advance customer reserves and order conversion [1]

Group 1: Company Strategy and Development - The company places high importance on the development of robotics, viewing it as a core direction for expanding high-end applications of ultra-high molecular weight polyethylene (UHMWPE) fiber materials [1][2]. - The strategic plan focuses on a layered development approach, emphasizing core components, lightweight materials, and flexible joint protection parts [2][3]. - A dedicated robotics R&D team has been established to enhance material applications in robotics, with ongoing collaborations with various robotics companies [2][6]. Group 2: Market Potential and Business Outlook - The future market space for the company's robotics-related business is promising, driven by global trends in automation and intelligent upgrades [3][4]. - The company aims to leverage its technological advantages and production capacity to convert material strengths into market competitiveness, with a planned release of 4,800 tons of UHMWPE fiber capacity [3][5]. - The company anticipates steady growth in the robotics sector, supported by continuous R&D and optimized production capabilities [3][6]. Group 3: Product Value and Pricing - The value of products such as robotic protective gloves is higher than traditional safety gloves due to specific material requirements and customization [4][5]. - The pricing of robotic gloves overlaps with high-end safety gloves but includes a customization premium, resulting in slightly higher overall prices [4][5]. Group 4: Production Capacity and Expansion Plans - The company currently has a production capacity of 3,000 tons of UHMWPE fiber, primarily for internal use and limited external sales [5][6]. - The 4,800-ton UHMWPE fiber project is progressing as planned, with production expected to ramp up soon [5][6]. - Future plans include an additional 12,000 tons of capacity, with the remaining 7,200 tons to be initiated based on market demand [5][6]. Group 5: Competitive Advantages - The company's competitive edge in robotics application development stems from its strong material research and industry chain collaboration [6]. - The organization has established a specialized robotics R&D group to ensure alignment with customer needs and facilitate small-batch supply [6][7]. Group 6: New Projects and Market Development - The biodegradable polyester rubber project is progressing with an annual production target of 110,000 tons, with the first phase of 10,000 tons already underway [7]. - The pricing strategy for biodegradable rubber will consider multiple factors, including raw material costs and market dynamics [7]. - The company is actively engaging potential customers for the biodegradable rubber project, with some discussions in advanced stages [7].