长江商报记者统计发现，2025年1至9月，时代新材签署的叶片销售及服务合同金额合计约为92亿元。算 上上述合同金额，全年新签的合同金额达到125亿元。 风电叶片，是时代新材的主营产品之一，其规模居全球第三。 此外，时代新材在全球轨道交通悬挂部件产品领域、全球汽车减振细分领域等，规模也均居全球前列。 长江商报消息●长江商报记者 沈右荣 深耕全球市场，时代新材（600458.SH）继续签署大单。 1月6日晚，时代新材发布公告，过去三个月，公司签署日常经营合同，向风电各大主机厂销售叶片及相 关服务，合同金额总计约合33.2亿元（含税价）。 过去几年，公司来自国外市场的收入占比超过40%。 近几年，时代新材的盈利能力持续提升。2022年至2024年，公司营收净利双增。2025年前三季度，公司 实现归母净利润4.28亿元，同比增长逾40%。 时代新材积极投身研发。2022年至2024年，研发投入持续增长。2025年前三季度为6.98亿元，同比继续 增长。 近三个月签33.2亿叶片大单 时代新材再签大单，以保障其未来持续经营、盈利的能力。 1月6日晚，时代新材发布签署日常经营合同的自愿性披露公告。2025年10月1日—1 ...

证券日报网讯 12月24日，常青科技在互动平台回答投资者提问时表示，公司深耕精细化工行业下的高 分子新材料细分领域，主营的高分子新材料特种单体及专用助剂，是助力下游材料实现性能改善、功能 强化的核心原料，下游应用场景覆盖多个高分子材料加工制造领域，终端应用范围广泛多元。相关产品 是否最终应用于M9树脂领域，取决于下游客户的具体生产规划与配方设计，由客户自主决策。公司将 持续依托核心技术积淀与多元化产品矩阵优势，迭代升级产品性能，深度响应下游客户的定制化需求， 进一步巩固并提升在高分子新材料细分领域的差异化竞争优势。 （文章来源：证券日报） ...

每经AI快讯，有投资者在投资者互动平台提问：公司七期正式投产，是否意味着有实际订单的出现？ 幕投项目是否有产能放出？ 常青科技（603125.SH）12月24日在投资者互动平台表示，公司七期项目已顺利完成生产工艺及机器设 备的全面调试工作，正式具备投产运行条件。该项目产线投产，将有效扩充公司核心产能规模，进一步 优化产品矩阵结构，强化公司在高分子新材料产业关键材料领域的布局与核心竞争力，契合公司长期战 略发展规划，切实维护全体股东的根本利益。目前，公司正围绕七期项目投产积极开展市场对接与优质 客户拓展工作，相关订单落地及经营业绩情况，公司将严格遵循信息披露相关法律法规及监管要求，及 时在定期报告或公告中予以披露，敬请您持续关注。此外，公司"特种聚合材料助剂及电子专用材料制 造项目"正按规划有序推进，相关产线已陆续完成并投入运行，现阶段产能正逐步释放。截至目前，项 目部分产品已实现客户送样或形成订单。 （文章来源：每日经济新闻） ...

Group 1: Company Overview - The company is Zhejiang Xinhacheng Co., Ltd., with stock code 002001 and abbreviation Xinhacheng [1] - The investor relations activity was recorded under number 2025-014 [1] Group 2: Investor Relations Activity - The activity included a strategy meeting with various investment firms and analysts [2] - Key participants included representatives from Guosen Securities, Qianhai Hezhi, and Huaxia Fund among others [2] Group 3: Project Updates - The Tianjin Nylon New Materials project commenced pile foundation construction in September 2025 and is expected to be completed by 2027 [3] - The company has a solid methionine production capacity of 30,000 tons, with an expansion project of 70,000 tons nearing completion [3] - The Heilongjiang base focuses on bio-fermentation products, including Vitamin C and various amino acids, enhancing overall efficiency through technological upgrades [3] Group 4: New Materials and Product Development - The company aims to be a leader in the new materials sector, focusing on high-performance polymers like PPS, with a current capacity of 22,000 tons and plans for expansion [4] - The fragrance segment produces various products, including linalool and citral, with ongoing projects to enhance product offerings [4] Group 5: Future Plans and Strategic Focus - The company plans to focus on health and high polymer new materials, emphasizing integrated and collaborative development strategies [6] - A share buyback plan is in place, with a total amount of 300 million to 600 million yuan allocated for stock repurchase to enhance investor confidence [6]

Core Viewpoint - Changqing Technology (603125) is expanding into the specialty monomer field of aromatic oxygen-containing high polymers, focusing on developing high-performance, green, and healthy specialty polymer materials that meet market demands [1] Group 1: Project Overview - The Taizhou project leverages existing technological advantages to develop specialty high polymer materials [1] - The products from this project can serve as key raw materials for high-end polyester resins, high-performance engineering plastics, and insulation materials, enhancing material heat resistance and mechanical strength [1] Group 2: Applications and Market Fit - The products are applicable in various sectors, including environmentally friendly plasticizers and specialty coatings, combining both environmental and high-performance characteristics [1] - These products are essential intermediates in biomedicine, pesticides, and daily chemical products, with broad applications in strategic emerging industries encouraged by the state, such as new energy, high-end manufacturing, and electronics [1]

Financial Performance - In Q3 2025, the company achieved a revenue of 166.42 billion CNY, with a net profit attributable to shareholders of 55.41 billion CNY, reflecting a year-on-year revenue growth of 5.45% and a net profit increase of 33.37% [3] - The company has maintained steady growth through production and sales linkage, market expansion, and cost control measures [3] Product Development and Market Strategy - The company focuses on the "Chemical+" and "Biological+" strategies, targeting opportunities in nutrition products, new materials, flavoring agents, and active pharmaceutical ingredients [3] - In the human nutrition sector, the company offers a range of products including vitamins A, D3, E, C, coenzyme Q10, taurine, β-carotene, and lycopene, with a commitment to customized formulations for various applications [3] - The solid methionine production capacity is currently at 30,000 tons, with an expansion project underway [3] Strategic Partnerships and Projects - The company has partnered with Sinopec to establish a joint venture for a liquid methionine project, with a production capacity of 18,000 tons/year [3] - The nylon new materials project in Tianjin has commenced construction, focusing on an integrated production chain from adiponitrile to nylon 66 [4] Future Plans and Innovations - The company aims to enhance its core competitiveness in the new materials sector by developing high-performance polymers and key intermediates [4] - The company is expanding its flavor and fragrance segment, with plans for a new fragrance industrial park in Shandong [4] - The Heilongjiang base is focused on bio-fermentation products, with ongoing improvements in product lines and operational efficiency [4] International Expansion - Over 50% of the company's sales are from international markets, with established subsidiaries in regions including Hong Kong, Singapore, Germany, Mexico, Brazil, Japan, and Vietnam [6] - The company emphasizes overseas market expansion as part of its 2025 operational strategy [6] Employee Engagement and Incentives - The company is implementing a share buyback program with a total amount between 30 million to 360 million CNY, aimed at employee stock ownership plans to enhance motivation and align interests [6]

Company Overview - Daon High Polymer Materials Co., Ltd. was established in 2002, focusing on the R&D, production, and sales of high-performance thermoplastic elastomers, modified plastics, color masterbatches, and polyester materials [2] - The company has an annual production capacity of 500,000 tons for modified plastics, 90,000 tons for thermoplastic elastomers, 30,000 tons for color masterbatches, and 60,000 tons for copolyester materials [2] - Daon has developed the first domestically-owned TPV production line in 2006, breaking international technology monopolies and winning the National Science and Technology Award [2] Financial Performance - In the first three quarters of 2025, the company achieved a revenue of CNY 4.456 billion, a year-on-year increase of 18.23% [3] - The net profit attributable to shareholders reached CNY 131 million, up 32.96% year-on-year [3] - The net profit after deducting non-recurring gains and losses was CNY 122 million, reflecting a growth of 46.07% [3] Product Development and Capacity - DVA has a current pilot production line of 5,000 tons and is constructing a dedicated production line of 20,000 tons to meet future demand [5] - The copolyester materials, including PCT, PETG, and PCTG, have filled domestic gaps, with a 20,000-ton PCTG production line under construction [9] - HNBR products are widely applicable in aerospace, oil exploration, automotive, and new energy sectors, achieving import substitution [8] Mergers and Acquisitions - The acquisition of Daon Titanium Industry is aimed at enhancing synergy in the chemical new materials sector, focusing on high-end lithium battery materials and photovoltaic new materials [6] - The board meeting held recently updated the audit benchmark date to June 30, 2025, indicating progress in the acquisition process [7] Collaboration and Innovation - Daon is actively involved in recycling materials through its subsidiary, Qingdao Haier New Materials R&D Co., Ltd., which produces modified plastics for Haier appliances [10] - The company is developing products for robotics, including ultra-soft artificial muscles and modified materials for robotic arms, aligning with industry advancements [10]

Report Summary 1. Report Industry Investment Rating No information provided in the document. 2. Core Viewpoints - The company is the first in China to successfully put into production a TBS production device. TBS has excellent performance and a wide range of downstream applications, with good market prospects under the trend of industrial upgrading and import substitution [24][37]. - The company attaches great importance to the strategic value and development potential of cutting - edge technology fields such as synthetic biology. The Taizhou project (Phase I) is an extension of the company's product matrix and technology accumulation, aiming to enrich product categories [25][30][32]. - The company's R & D adopts a model of internal R & D combined with university cooperation. The existing R & D team is mainly composed of senior technical backbones with over 10 years of industry experience, which is in line with the current R & D needs of the company [27][28]. - The company's products are mainly high - molecular new material special monomers and special additives, which have the characteristics of small dosage, great effect, and high added value in the downstream high - molecular new material industry system [38]. 3. Summary According to the Directory 3.1 Research Basic Situation - The research object is Changqing Technology. The reception time was on September 26, 2025. The listed company's reception personnel included the chairman and general manager, the director and board secretary, the financial controller, and the independent director [17]. 3.2 Detailed Research Institutions - The research institutions mainly include investors and others [20]. 3.3 Research Institution Proportion No information provided in the document. 3.4 Main Content Information - **Product Application and Market**: TBS has been sent for sampling and sales in multiple industries and is expected to be applied in more industries. The company's products can be used in multiple fields of the big - health industry, such as high - end medical consumables, biomedicine, and food packaging [24][26]. - **Project Planning**: The Taizhou project (Phase I) is an extension of the company's product matrix and technology accumulation. The second - and third - phase plans will be scientifically demonstrated and decided based on the operation results of the first - phase project, market trends, and R & D progress [25][30][35]. - **New Product Promotion and Production Capacity**: Some new products of the company's fund - raising projects have been sent to customers for sampling or obtained orders, and the production capacity and benefits are gradually being released. The seventh - phase project is in the trial - production stage [27][31][41]. - **R & D and Technology**: The company's R & D adopts a combination of internal R & D and university cooperation. The company's unique technology path is difficult to be imitated by competitors, and the company attaches great importance to technology confidentiality [27][28][34]. - **Market and Sales**: The company's products are sold overseas, with an export proportion of about 35% during the reporting period, mainly to Europe, Japan, South Korea, Southeast Asia and other countries or regions [24][33][37]. - **Production Capacity and Performance**: The company's production capacity is in a stable and rising trend. The production capacity of the fund - raising project is gradually climbing. Regarding the third - quarter performance, please refer to the company's subsequent regular reports [41].

Fundraising Plan - The company plans to issue convertible bonds to raise a total of up to 800 million yuan for the construction of a new polymer materials production base in Taizhou, with a total project investment of approximately 2.854 billion yuan [1][2] - The project will be implemented by the company's wholly-owned subsidiary, Jiangsu Changqing Tree New Materials Technology (Taizhou) Co., Ltd., and the construction period is planned for 2 years [1][3] Project Overview - The project aims to establish production facilities for intermediates, aromatic oxidation, and phenol production, targeting an annual production capacity of 80,000 tons of phthalic anhydride, 10,000 tons of isophthalic acid, and 120,000 tons of phenol series products [1][3] - The project has received necessary approvals, including investment project filing and environmental impact assessment [3] Market Demand and Feasibility - There is a significant opportunity for domestic production of high-end specialized materials, as China still relies on imports for certain high-end polymer materials [4][6] - The demand for phthalic anhydride and phenol products is expected to grow due to their wide applications in various industries, including plastics, coatings, and pharmaceuticals [4][5] Economic Benefits - The project is projected to achieve a net profit margin of no less than 12% upon reaching full production capacity, contributing to sustained cash flow for the company [3][8] - The construction of the project aligns with national policies promoting the development of new chemical materials and fine chemicals, providing a favorable environment for its implementation [6][8] Impact on Company Operations - The fundraising aligns with the company's strategic development direction and is expected to enhance operational performance and competitiveness in the fine chemical industry [7][8] - The issuance of convertible bonds will increase the company's cash flow and total assets, while also reducing financial risks and enhancing its ability to withstand market fluctuations [8]

Financial Performance - The company reported a net profit of 25.98 million yuan for the first half of 2025, a decrease of 48.14% year-on-year [1] - Total operating revenue for the same period was 666 million yuan, down 19.47% compared to the previous year [1] - The gross profit margin fell to 2.87%, a decline of 42.77% year-on-year, while the net profit margin decreased to 3.90%, down 35.60% [1] - In Q2 2025, operating revenue was 344 million yuan, a decrease of 25.75% year-on-year, and net profit was 7.60 million yuan, down 72.91% [1] Cash Flow and Financial Ratios - The company's cash flow situation is concerning, with cash and cash equivalents at 231 million yuan, a drop of 44.79% year-on-year [3] - The return on invested capital (ROIC) for the previous year was 1.14%, indicating weak capital returns [3] - The average operating cash flow over the past three years relative to current liabilities is only 12.41% [3] Product and Market Insights - The company focuses on HIPS (High Impact Polystyrene) and GPPS (General Purpose Polystyrene) products, with HIPS sales revenue increasing by 14.05% year-on-year to 1.007 billion yuan [4] - HIPS products are positioned as high-value, environmentally friendly materials used in various high-end applications, while GPPS is used in toys and packaging [4][5] - The company has developed a unique production technology for HIPS, enhancing efficiency and reducing costs [4] Future Plans and Strategic Direction - The company plans to explore new technologies and materials, focusing on high-value polymer materials [7] - There are intentions to adjust development strategies and explore mergers and acquisitions to enhance profitability and competitive capabilities [7]