曾几何时近乎"纹丝不动"的资本市场最近终于"复苏"了。除了宁德时代、欣旺达、亿纬锂能等一波又一波的 巨头奔赴港交所上市，号称敲钟的"锣"都不够用之外，内地几大"板"的受理、问询、批准突然迎来"小高 潮"。 就在最近2个月，单单就高端化工新材料领域，DT新材料已经连续报道包括彩客科技（聚酰亚胺单体）、新 恒泰（发泡材料）、科润新材料（质子膜）、时代华鑫（聚酰亚胺）、长裕集团（特种尼龙）、苏州聚复 （3D打印材料）启动IPO，更有能之光（助剂）上会通过等消息，还都是清一色行业龙头或"小巨人"。投资 人有信心了，新材料就有"钱"了。 扩展阅读： 6月25日，【DT新材料】再获悉，广东省天行健新材料股份有限公司（以下简称"天健新材"）北交所IPO申 请获正式受理，实现了从新三板到拟在创业板上市，最终决定变更为向不特定合格投资者公开发行股票并在 北京证券交易所上市的"三级跳"。 本次，公司拟发行不超过1427.86万股，募资3.97亿元。募集资金将用于天行健新材料制造中心项目（二 期）、天行健新材料研发中心项目，东莞奥能改性塑料生产线技术改造项目及以及补充流动资金。 | 序号 | 项目名称 | 投资总额 (万元) | ...

曾几何时近乎"纹丝不动"的资本市场最近终于"复苏"了。 除了 宁德时代、欣旺达、亿纬锂能 等 一波又一波的巨头奔赴港交所上市，号称敲钟的"锣"都不够用之外，内地几大"板"的受理、问询、 批准突然迎来"小高潮"。 就在最近2个月，单单就高端化工新材料领域， DT新材料 已经连续报道包括 彩客科技 （聚酰亚 胺单体）、 新恒泰 （发泡材料）、 科润新材料 （质子膜）、 时代华鑫 （聚酰亚胺）、 长裕集 团 （特种尼龙）、 苏州聚复 （3D打印材料）启动IPO，更有 能之光 （助剂）上会通过等消息， 还都是清一色行业龙头或"小巨人"。投资人有信心了，新材料就有"钱"了。 扩展阅读 ： 聚酰亚胺关键单体 " 小巨人 " ，冲 IPO ！ 巴斯夫、金发供应商，化工新材料 " 小巨人 " ， IPO 上会通过！ 中石化投资，又一独角兽，冲 IPO ！ 聚酰亚胺龙头，冲 IPO ！ 比亚迪、金发科技供应商，特种尼龙材料企业，启动 IPO ！ 又一高分子材料国家级 " 小巨人 " ， IPO 获批！ 6月25日， 【DT新材料】 再 获悉， 广东省天行健新材料股份有限公司 （以下简称"天健新材"） 北交所IPO申请获正式受理 ...

Core Viewpoint - Under the backdrop of global supply chain restructuring, Kingfa Technology has seen significant new opportunities in its export business, as overseas companies are adjusting their supply structures to seek better quality and faster response suppliers [1]. Financial Performance - In 2024, Kingfa Technology's revenue reached 60.514 billion yuan, a year-on-year increase of 26.23%, and the net profit attributable to shareholders was 0.825 billion yuan, a substantial growth of 160.36% [1]. - In the first quarter of 2025, the company continued its growth momentum, achieving revenue of 15.666 billion yuan, a year-on-year increase of 49.06%, and a net profit of 0.247 billion yuan, up 138.20% [1]. Business Segments - The sales volume of special engineering plastics, a key segment, showed strong growth, reaching 0.63 million tons in the first quarter, a year-on-year increase of 91% [1]. - Kingfa Technology is focusing on high-end chemical new materials, particularly in emerging industries such as humanoid robots and low-altitude economy [1]. Technological Advancements - The company plans to tackle key industrialization technologies for new materials such as long-chain polyamide and ultra-high heat-resistant LCP, aiming to reduce reliance on imports [2]. - Kingfa Technology has maintained R&D expenditures exceeding 1 billion yuan for seven consecutive years, with an average annual R&D investment ratio of around 4% of revenue [2]. Capacity Expansion - The current production capacity for LCP is 6,000 tons per year, with plans to rapidly increase by an additional 15,000 tons per year, expected to be released gradually by June 2025 [2]. - A project for producing 0.8 million tons of long-chain polyamide has also been initiated, with production planned to start in March 2026 [2]. Market Opportunities - Kingfa Technology's overseas business is experiencing rapid growth, with a total product sales volume of 233,500 tons in 2024, reflecting a year-on-year increase of 29.51% [2]. - The changing global supply chain dynamics have created opportunities for Kingfa Technology to fill supply gaps as overseas manufacturers adjust their supply chains [3].