Core Viewpoint - The article discusses the advancements and commercialization opportunities in the field of bio-based polymers, highlighting the potential of non-food biomass as a sustainable resource for producing high-performance materials [4][7][10]. Summary by Sections Economic Viability of Bio-based Polymers - The economic feasibility of bio-based polymers varies, with some materials being economically viable while others are not. The development of bio-based materials from biomass is a key focus area for research and development [7][10]. - The history of polylactic acid (PLA) pricing illustrates the significant potential for converting biomass into bio-based materials [7]. Research Directions and Achievements - The Zhejiang Provincial Key Laboratory for Bio-based Polymer Materials focuses on three main research areas: efficient conversion of non-food biomass, design and synthesis of high-quality bio-based polymers, and high-quality processing and application technologies [10]. - Key research topics include cellulose conversion to sugars, furan dicarboxylic acid (FDCA) and its polyesters, biodegradable polymers, and bio-based additives [10][11]. Cellulose Conversion - The conversion of cellulose to glucose is challenging but essential for utilizing non-food biomass. The research team has developed a catalyst that achieves over 85% glucose yield from cellulose, which is currently the highest reported [15][16]. - This process enables the further development of important products such as ethanol and lactic acid [16]. Furan Dicarboxylic Acid (FDCA) and Its Polyesters - FDCA is a promising bio-based platform compound with advantages over traditional petroleum-based counterparts, including sustainability and enhanced properties [17][19]. - The research team has pioneered a non-food biomass route for FDCA production, which is more sustainable and efficient than traditional methods. They have successfully scaled up production to a pilot level [21][25]. Biodegradable Polymers - Biodegradable polymers are seen as a solution to plastic pollution, but they often face challenges such as slow degradation rates. The research team is focusing on developing marine biodegradable materials [26][30]. - They have successfully created a low-cost oxalic acid-based polymer that demonstrates effective degradation in various environments [31]. Bio-based Additives - There is a significant lack of bio-based additives for polymer modification. The global compatibilizer market is growing rapidly, with a focus on developing high-grafting-rate reactive compatibilizers [32][34]. - The team has developed a bio-based compatibilizer with superior performance compared to traditional products, and a production line has been established [35]. Future Directions - The article concludes that the bio-based polymer sector has seen rapid development over the past two decades, with some materials already commercialized. The potential for bio-based polymers to replace fossil-based materials is significant [35].

Core Viewpoint - The article discusses the economic feasibility of bio-based polymers, the challenges they face, and the industrialization opportunities in this field, highlighting recent advancements and research directions from the Ningbo Institute of Materials Technology and Engineering [2][5][6]. Summary by Sections Economic Feasibility of Bio-based Polymers - Bio-based materials can theoretically replace petroleum, coal, and natural gas resources using biomass generated through photosynthesis, with various chemical and microbial methods available for conversion [3][5]. - The price development of polylactic acid (PLA) indicates significant potential for converting biomass into bio-based materials [5]. Research Directions and Achievements - The Zhejiang Key Laboratory focuses on three main research areas: efficient conversion of non-food biomass, design and synthesis of high-quality bio-based polymers, and high-quality processing applications of bio-based materials [5][8]. - The laboratory has made progress in four key areas: cellulose conversion to sugars, furan dicarboxylic acid (FDCA) and its polyesters, biodegradable polymers, and bio-based additives [8][9]. Cellulose Conversion - The conversion of cellulose to glucose is challenging but essential for developing non-food bio-based materials. The team has achieved a glucose yield of over 85% and a cellulose conversion rate of 100% using a novel enzyme-like catalyst [9][13][10]. Furan Dicarboxylic Acid (FDCA) and Its Polyesters - FDCA is a promising bio-based platform compound with advantages over traditional petroleum-based counterparts, such as better rigidity and sustainability [15][17]. - The team has pioneered a non-food route for FDCA production, which is more sustainable and efficient, and has initiated pilot-scale production [20][21]. Biodegradable Polymers - The team is addressing the slow degradation rates of existing biodegradable polymers by developing a new oxalic acid-based polyester that can degrade in marine environments [24][27]. Bio-based Additives - There is a significant market for bio-based compatibilizers, with the global market projected to reach 64.82 billion yuan in 2024. The team has developed a bio-based compatibilizer with a grafting rate of up to 1.5%, outperforming traditional options [28][31][29]. Conclusion - The bio-based polymer sector has seen rapid development over the past 20 years, with some materials already commercialized. The industry is expected to continue growing, providing effective alternatives to fossil-based polymers [31].

Core Viewpoint - Zhejiang Wansheng Co., Ltd. reported a significant decline in net profit and operating cash flow for the first half of 2025, attributed to increased depreciation and costs related to production capacity ramp-up, despite a rise in revenue due to the consolidation of Guangzhou Entropy New Materials [2][3][4]. Company Overview and Financial Indicators - Company Name: Zhejiang Wansheng Co., Ltd. [2] - Stock Code: 603010 [2] - Revenue for the first half of 2025 reached approximately CNY 1.623 billion, a 17.07% increase from the previous year [3]. - Total profit decreased by 25.85% to approximately CNY 61.064 million [3]. - Net profit attributable to shareholders dropped by 65.02% to approximately CNY 26.323 million [3]. - Operating cash flow decreased by 50.99% to approximately CNY 108.541 million [3]. - Total assets increased slightly by 0.42% to approximately CNY 7.230 billion [3]. Business Segments - The company specializes in functional fine chemicals, focusing on phosphorus-based flame retardants, polymer functional additives, organic amines, and coating additives [4][5]. - The company has established a global sales network with production bases in China and a presence in international markets including the USA, Europe, and Southeast Asia [4]. - The main products include polymer functional additives, organic amines, and coating additives, which are widely used in various industries such as automotive, electronics, and construction [4][5]. Industry Context - The fine chemical industry is a rapidly growing sector, with projections indicating that China's fine chemical market could reach CNY 11 trillion by 2027 [9]. - The phosphorus-based flame retardant market is driven by stringent fire safety regulations in developed countries, leading to increased demand for environmentally friendly alternatives [10][11]. - The demand for engineering plastics, particularly in the automotive and electronics sectors, is expected to grow significantly, driven by trends in lightweight materials and enhanced safety standards [12][14]. - The market for organic amines is expanding due to their wide applications in pharmaceuticals, agriculture, and industrial processes, with a focus on environmentally friendly solutions [20].

Group 1 - The core viewpoint of the article is that Wanhua Chemical has outlined its investment plans for 2024 and 2025, focusing on expanding its production capacity and developing new materials, particularly in the polyurethane and high-performance materials sectors [1][2]. - In 2024, Wanhua Chemical plans to invest a total of 454 billion yuan, with an actual investment completion of 428.3 billion yuan, covering projects related to polyurethane and high-performance materials [1]. - For 2025, the planned investment is 294.3 billion yuan, with a focus on key projects such as MDI capacity expansion and the industrialization of green functional additives and battery materials [1]. Group 2 - The first project mentioned is the HEMA Phase II technical transformation and capacity expansion project, which aims to increase the HEMA production capacity by 20,000 tons per year, bringing the total capacity to 55,000 tons per year [3][4]. - HEMA is a functional organic polymer monomer widely used in medical high polymer materials and various applications such as automotive coatings and 3D printing [4][5]. - The second project is the expansion of the lemon aldehyde HCTA and BRA units, which will increase the MDO capacity from 5,400 tons to 10,000 tons per year [7][8]. - Lemon aldehyde is an important fine chemical widely used in flavors, cosmetics, and pharmaceuticals, particularly as a key intermediate in vitamin A production [7][8].

【DT新材料】 获 悉 ，4月28日， 南京聚隆 发布公告，2025年第一季度，公司实现营业收入为5.95亿元，同比上升32.48%；归母净利润为3052.77万元，同比上升 33.56%；扣非归母净利润为2897.81万元，同比上升26.35%。 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | | | | (%) | | 营业收入(元) | 594, 654, 632. 66 | 448, 876, 171. 94 | 32. 48% | | 归属于上市公司股东的净利 | 30.527.733.41 | 22, 857, 761. 18 | 33.56% | | 润(元) | | | | | 归属于上市公司股东的扣除 | | | | | 非经常性损益的净利润 | 28. 978. 050. 57 | 22, 934, 613. 78 | 26. 35% | | (元) | | | | | 经营活动产生的现金流量净 | -64.164.679.43 | 34.677.076.93 | -285.03% | | 额(元) | | | | 前 ...