截至8月26日收盘，美瑞新材报17.15元，较前一交易日下跌1.15%。当日成交额1.11亿元，换手率 2.69%，总市值73.38亿元。 美瑞新材是国内聚氨酯新材料及特种化工原料生产企业，主营产品包括热塑性聚氨酯弹性体、水性聚氨 酯等，应用于消费电子、汽车制造等领域。公司是当前国内唯一以TPU为主营业务的上市公司。 风险提示：本文不构成投资建议，市场有风险，投资需谨慎。 消息面上，公司8月26日接待了北京禹田资本等10家机构调研，重点介绍了聚氨酯产业园项目进展及新 产品开发情况。此前一日披露的半年报显示，公司上半年净利润同比增长25.25%，并宣布拟向子公司 增资不超过3.5亿元以推进项目建设。 资金流向方面，8月26日主力资金净流出3006.73万元，近五日累计净流出1125.19万元。 ...

本报讯 （记者王僖）8月25日晚，美瑞新材料股份有限公司（以下简称"美瑞新材"）披露2025年半年度 报告，上半年，公司实现营业收入8.01亿元，同比增长0.02%；归属于上市公司股东的净利润3912.21万 元，同比增长25.25%。 美瑞新材是国内知名的聚氨酯新材料及功能化工品原料（特种异氰酸酯、特种胺）生产企业，且是目前 国内唯一一家以TPU（热塑性聚氨酯弹性体）为主营业务的上市公司，公司产品广泛应用于消费电子、 汽车制造、运动休闲、高端装备、绿色能源、家居生活、工业涂装、密封传动、3D打印、食品卫生等 领域。 今年上半年，公司在功能化工品原料板块取得重要进展，子公司美瑞科技（河南）有限公司（以下简 称"美瑞科技"）聚氨酯产业园一期项目各生产装置均已投产试运行，部分装置已实现稳定运行且小批量 对外供应产品；在聚氨酯新材料板块，公司开发和推广高性能聚氨酯新材料产品，在复杂多变的市场环 境中保持了销量的稳定。 依托河南美瑞科技项目产业链优势，公司利用特种异氰酸酯原料，不断开发PUD（水性聚氨酯分散体及 胶黏剂）等产品及应用，广泛应用于高端涂料、胶粘剂、鞋底、汽车内饰、水性合成革材料等，业务呈 现多元化发展态 ...

Core Viewpoint - Shanghai Huide Science & Technology Co., Ltd. is seeking to issue A-shares to specific investors, with the underwriting by Dongfang Securities Co., Ltd. The company has met the necessary legal and regulatory requirements for this issuance [1][8]. Group 1: Company Overview - Shanghai Huide Science & Technology Co., Ltd. was established on June 25, 2007, and is headquartered in Jinshan District, Shanghai. The company specializes in the research, production, and sales of polyurethane materials [2][3]. - The registered capital of the company is approximately 141.13 million yuan [2]. - The main products include polyurethane resin, polyurethane elastomers, and polyester polyols, which are used in various industries such as automotive manufacturing and new energy [3][18]. Group 2: Financial Data - As of March 31, 2025, the total assets of the company amounted to 2.25 billion yuan, while total liabilities were approximately 675 million yuan [4]. - The company reported a net profit of approximately 19.34 million yuan for the first quarter of 2025, with a year-on-year increase compared to previous years [4]. - The average annual net profit attributable to shareholders over the last three years was approximately 83.45 million yuan, with total cash dividends amounting to about 98.69 million yuan during the same period [3][4]. Group 3: Issuance Details - The company plans to raise up to 580 million yuan through this issuance, with the funds primarily allocated to a project for producing 305,000 tons of polyurethane new materials annually [17][18]. - The issuance will be directed towards no more than 35 specific investors, including qualified institutional investors and natural persons [17][12]. - The issuance price will not be lower than 80% of the average trading price over the 20 trading days prior to the pricing date [12][13]. Group 4: Regulatory Compliance - The underwriting institution, Dongfang Securities, has conducted thorough due diligence and confirmed that the company meets all necessary conditions for the issuance as per the Company Law and Securities Law [8][9]. - The company has adhered to all relevant regulations and has not engaged in any activities that would disqualify it from issuing shares [10][11]. - The company is not listed as a dishonest entity under the relevant memorandums regarding joint punishment for dishonest enterprises [19].

Group 1: Product Development and Applications - The company is entering mainstream industries for HDI products, including coatings, automotive paints, and industrial paints, while also focusing on polyurethane new materials as a key market for future development [2] - The company's self-developed foaming TPU is lightweight and highly elastic, primarily used in sports shoe midsoles, showing strong profitability and rapid sales growth [3] - The special amine products include PNA, PPDA, and CHDA, with applications in dye synthesis, aramid and polyimide production, and as epoxy curing agents in various fields [3] Group 2: Project Progress and Market Response - Two small-scale rapid fundraising projects commenced construction in Q4 2024, with an 18-month construction period; one project aims for an annual output of 10,000 tons of expandable thermoplastic polyurethane elastomer, and the other for 30,000 tons of water-based polyurethane [4] - The sales team has been actively promoting the Henan project through exhibitions and client visits, resulting in positive market feedback and ongoing engagement with target customers [2] Group 3: Financial Performance - The company's second-quarter performance was influenced by market demand, raw material prices, and operational factors, with specific results to be detailed in the upcoming semi-annual report [4]