"我们欣喜地看到，在这场关乎未来的全球科技竞争中，中国石墨烯人勇立潮头，奋发有为，已经走在 了世界前列。"一位石墨烯专家对21世纪经济报道记者指出，中国拥有全球规模最庞大、体系最完整的 石墨烯研发和产业化大军，在国际舞台上举足轻重。 根据工信部发布的《重点新材料首批次应用示范指导目录（2024年版）》，石墨烯散热材料、涂布法制 备石墨烯电热膜、石墨烯导热复合材料、石墨烯改性发泡材料、石墨烯改性润滑材料、石墨烯防爆电伴 热膜材料等名列其中。近些年来，中国石墨烯产业规模日渐扩大。业内数据显示，目前，我国在石墨烯 领域的专利申请数量达28万件，占全球总申请量的80%以上。截至2024年底，中国石墨烯材料产能超过 1.5万吨/年，约占全球的53%，成为全球最大的石墨烯原材料生产制造基地。 21世纪经济报道记者曹恩惠 温州报道 《中共中央关于制定国民经济和社会发展第十五个五年规划的建议》指出，要培育壮大新兴产业和未来 产业。 素有"新材料之王"之称的石墨烯有望在"十五五"时期迎来进一步发展。 在近日召开的2025（第十二届）中国国际石墨烯创新大会上，业内专家表示，全球石墨烯应用市场规模 持续增长，中国石墨烯产业也呈现出 ...

Core Insights - Graphene composite fibers, made from graphene or its derivatives combined with various materials, are emerging as a promising new material due to their superior properties such as electrical conductivity, thermal conductivity, and high strength compared to traditional fibers [1][3] - The Chinese graphene industry is rapidly expanding, with production capacity expected to reach 5,200 tons in 2024 and 6,000 tons in 2025, while the market size is projected to grow from 13,284 million yuan in 2024 to 18,265 million yuan in 2025 [1][4] Industry Definition and Characteristics - Graphene composite fibers exhibit significant advantages over conventional fibers in mechanical strength, thermal and electrical conductivity, flame resistance, antibacterial properties, infrared emission, UV protection, and corrosion resistance [3] - The performance of graphene composite fibers is influenced by the type of graphene used, the method of polymer composite, the amount of graphene added, and the spinning and post-processing techniques [3] Industry Classification - Graphene composite fibers can be categorized into three main types: graphene/inorganic metal composite fibers, graphene/inorganic non-metal composite fibers, and graphene/polymer composite fibers, with the latter further divided into graphene/organic small molecule composite fibers and graphene/polymer composite fibers [3] Industry Development History - The global graphene composite fiber market is in its early development stage, with leading companies in the U.S., South Korea, and Japan dominating technology research and industrialization, posing significant competition for domestic companies in China [3] Supply and Demand Scale - In 2024, China's graphene composite fiber production capacity is expected to be 5,200 tons, with an industry output of 98.5 tons and a low capacity utilization rate of less than 2%. By 2025, production is projected to increase to 140.8 tons [4] - The demand for graphene composite fibers in China is anticipated to reach 98.4 tons in 2024 and 140.5 tons in 2025, with market sizes of 13,284 million yuan and 18,265 million yuan, respectively [4] Market Segmentation - The demand for graphene composite fibers is primarily concentrated in the textile and apparel sector, which is expected to account for 83.8% of the total market in 2024, with a projected demand of 11,132 million yuan [5] - Other industrial applications, including supercapacitors and electromagnetic shielding, are expected to represent 16.2% of the market, with a demand of 2,152 million yuan in 2024 [5] Competitive Landscape - The domestic graphene composite fiber industry is becoming increasingly competitive, with key players including Nantong Qiangsheng Graphene Technology, Hangzhou Gaoxin Technology, and others. Nantong Qiangsheng is the largest producer with a capacity of 5,000 tons [5] Market Trends - As the application fields of graphene composite fibers expand beyond traditional textiles into emerging sectors, consumer awareness and acceptance of fibers with antibacterial, conductive, and high-strength properties are expected to drive market growth [5]

Core Viewpoint - Graphene composite fibers are emerging as a potential growth area in the new materials sector due to their superior properties such as electrical conductivity, thermal conductivity, and high strength, combined with the flexibility and processability of traditional fibers. The demand for these materials is expected to continue expanding, supported by national policies and significant investment in research and development [1][4]. Industry Overview - Graphene composite fibers are defined as fiber materials made by combining graphene or its derivatives with one or more materials. They exhibit significant advantages over conventional fibers in mechanical strength, thermal and electrical conductivity, flame resistance, antibacterial properties, far-infrared emission, UV resistance, and corrosion resistance [2][3]. - The production methods for graphene composite fibers can be categorized into three main types: surface treatment, in-situ polymerization, and physical blending, each with its own advantages and disadvantages [2][3]. Market Size and Growth - In 2024, China's graphene composite fiber production capacity is projected to reach 5,200 tons, with an industry output of 98.5 tons and a demand of 98.4 tons, resulting in a market size of 13,284 million yuan. The capacity utilization rate is currently low, at less than 2%. By 2025, production capacity is expected to increase to 6,000 tons, with output and demand reaching 140.8 tons and 140.5 tons, respectively, leading to a market size of 18,265 million yuan [5][6]. - The global graphene composite fiber market was valued at 61.96 million USD in 2023, expected to decrease to 52.88 million USD in 2024, and projected to grow to approximately 6.933 billion USD by 2025. Asia dominates the market, accounting for 58.79% of the global market share in 2024 [4][5]. Application Areas - The demand for graphene composite fibers is primarily concentrated in the textile and apparel sector, which is expected to account for 83.8% of the total domestic market size in 2024, with a demand scale of 11,132 million yuan. Other industrial applications, including supercapacitors and electromagnetic shielding, are projected to account for 16.2% of the market [7][8]. - In the textile and apparel sector, the unique properties of graphene composite fibers will be increasingly utilized, leading to a wider variety of products, including sportswear, underwear, and outdoor clothing. Companies are expected to enhance R&D efforts to improve product comfort and durability [15][16]. Competitive Landscape - The graphene composite fiber industry in China has a well-established industrial chain, from raw material supply to production and application. Major companies include Nantong Qiangsheng Graphene Technology Co., Ltd., Hangzhou Gaoxing Technology Co., Ltd., and others, with Nantong Qiangsheng being the largest producer with a capacity of 5,000 tons [12][13]. - As technology advances and market competition intensifies, companies are expected to focus on product quality and brand development, leading to a proliferation of high-quality graphene composite fiber products [12][14]. Future Trends - The market for graphene composite fibers is anticipated to grow significantly, with projections indicating that by 2031, the market size in China could reach 237,936 million yuan. The textile and apparel sector is expected to dominate, with a projected size of 198,438.6 million yuan, while other industrial applications could reach 39,497.4 million yuan [16].

Company Announcements - Tonglin Co., Ltd. has no business related to graphene industry [1] - Hemei Group plans to invest in the construction of the Qinyuan Qiaolonggou Comprehensive Energy Island Project [1] - Huayi Technology is planning to issue H-shares and list on the Hong Kong Stock Exchange [1] - Wencheng International has won the core smart warehouse operation service project for a well-known cross-border e-commerce platform in East China [1] - Xingfa Group intends to acquire 50% equity of Qiaogou Mining for 855 million yuan [1] - Koweil has completed the repurchase of 1.1788% of its shares [1] - Tianfu Communication reported a net profit of 899 million yuan in the first half of the year and plans to distribute 5 yuan per 10 shares [1] - Huayang Lianzhong's controlling shareholder, Xiangjiang Group, plans to increase its stake by 1% to 2% [1][2] - Hengsheng Electronics' director Jiang Jiansheng plans to reduce his stake by no more than 0.42% [1][2] - Tanshijia plans to raise no more than 1.93 billion yuan through a private placement to its actual controller Li Ming and his controlled enterprise Tongyu Huying [1][2] - Jingu Co., Ltd. has received a notification for the low-carbon wheel project from Avatar [1][2] Performance Highlights - Tianfu Communication reported a net profit of 899 million yuan in the first half of the year [1] - Hisense Visual reported a net profit of 1.056 billion yuan in the first half of the year, representing a year-on-year increase of 26.63% [1]

Core Viewpoint - The company has issued a risk warning regarding its subsidiary, Hangzhou Yunhe Technology Development Co., Ltd., and its associate, Zhejiang Yunzhen Information Technology Co., Ltd., clarifying that it holds only a 15% stake in Yunzhen Technology and does not have a controlling interest [1] Group 1 - The company emphasizes that Yunzhen Technology is still in the early stages of technology transformation, with no significant changes in its operational fundamentals, and it remains in a loss-making position [1] - The company has signed a framework agreement with several parties regarding potential cooperation in the graphene industry, but this agreement is only a preliminary intention and does not involve specific business amounts [1] - Currently, the company has no related business in the graphene industry and lacks relevant talent and technical reserves, indicating that the framework agreement will not impact its operational performance [1]

Group 1 - The company's stock experienced a significant price increase, with a cumulative rise of over 60% from August 18 to August 22, 2025, which is substantially higher than its industry peers, indicating potential market overreaction and irrational speculation [1][4][6] - The company's latest dynamic price-to-book ratio is 3.19, which is significantly above the industry average of 0.61, suggesting a risk of overvaluation [2][6] - The company reported a net loss of 190 million yuan for the year 2024 and anticipates a net loss between 68 million to 92 million yuan for the first half of 2025, indicating ongoing financial struggles [2][6] Group 2 - The company holds a 15% stake in Zhejiang Yunzhen Information Technology Co., which is currently in the early stages of technology commercialization and is operating at a loss, highlighting the limited scale and financial challenges of its subsidiary [3][5] - A framework agreement was signed with several parties regarding potential cooperation in the graphene industry; however, the company currently has no related business or technical capabilities, and this agreement will not impact its financial performance [3][5]

Core Viewpoint - Huali Family Co., Ltd. reported a significant increase in revenue for 2024, but also faced substantial net losses, indicating a "revenue growth without profit" situation [2]. Financial Performance - The company achieved an operating revenue of 353 million yuan in 2024, representing a year-on-year increase of 118.47% compared to 161 million yuan in 2023 [3]. - The net loss attributable to shareholders was 34.42 million yuan, a decline of 159.37% from a profit of 57.97 million yuan in the previous year [3]. - The net profit after deducting non-recurring gains and losses was a loss of 38.45 million yuan, compared to a profit of 44.83 million yuan in 2023 [3]. - Cash generated from operating activities was a negative 223.69 million yuan, an improvement from a negative 347.30 million yuan in 2023 [3]. Business Segments - The real estate segment showed mixed performance, with projects in Shanghai and Suzhou driving revenue growth, while the overall market downturn led to a 19.23 percentage point decline in gross margin [2][4]. - The increase in revenue was primarily due to the higher turnover of the Suzhou project, despite the adverse market conditions [2]. - The company’s investment in Xiamen International Bank, which has not paid dividends for five consecutive years, resulted in a reduction of approximately 50 million yuan in investment income, further pressuring financial performance [2]. Emerging Business Challenges - The graphene industry, which the company has invested in for years, continues to struggle, with revenue from graphene derivatives dropping to only 17,000 yuan, a decrease of 72.42% year-on-year [4]. - Subsidiaries in Ningbo and Chongqing are still operating at a loss, and new ventures like South River Robotics have yet to contribute effectively to profitability [4]. - Efforts to revitalize assets through fund investments have not yet yielded significant returns, and the exit from the Ruile Culture project has not been fully realized, making it difficult to improve financial performance in the short term [4].

Core Viewpoint - The establishment of the "Graphene Life Health Alliance" in Shenzhen marks a significant step in promoting the application of graphene in the health sector, highlighting the city's commitment to becoming a leader in the graphene industry and its potential for future growth in various fields, including healthcare and technology [1][2][3]. Industry Development - Shenzhen is recognized as a pioneer in the graphene industry, having established the Graphene Application Technology Research Institute in 2015 to promote collaboration between academia and industry [2][3]. - The city has launched multiple initiatives and policies to support the development of the graphene industry, including the "20+8" industrial cluster strategy and the "Implementation Plan for Accelerating the Development of the Graphene Industry (2021-2023)" [2][3]. - The Guangdong provincial government has invested 30 billion yuan in a health fund to support the application of graphene in medical fields [2]. Research and Innovation - The newly formed "Graphene Life Health Alliance" includes prominent universities and research institutions, aiming to foster high-quality development in the graphene health industry [3][4]. - The alliance's establishment is seen as a new starting point for collaborative innovation in graphene applications, integrating resources from various sectors [4]. Market Trends and Projections - The Chinese graphene market is projected to reach 38.6 billion yuan in 2023, with a growth rate of 15.22%, and is expected to exceed 100 billion yuan in the future [9][10]. - By 2030, the global graphene market is anticipated to reach approximately 51.8 billion USD, indicating significant growth potential [9][10]. Competitive Landscape - Shenzhen's graphene industry is positioned in the first tier nationally, with strong production capabilities and a market share exceeding 20% among leading companies [7][10]. - The industry is characterized by a tiered competition structure, with first-tier companies like BetterRay and Fangda Carbon, and second-tier specialized firms focusing on niche technological breakthroughs [7]. Challenges and Recommendations - Despite its advancements, Shenzhen faces challenges from market irregularities, including counterfeit graphene products, which necessitate the establishment of industry standards [5]. - To maintain its leading position, Shenzhen must enhance its industrial chain integration and focus on scaling up graphene applications in electronics and high-end manufacturing [10].