据悉，接下来，吉林化纤集团将以"十四五"收官和"十五五"科学谋划为契机，铆足干劲不放松，继续深 化改革创新促产品研发，加快项目建设促布局优化。持续在碳纤维零碳制品产业园建设上深度布局，积 极引入战略合作伙伴，助力碳纤维在新能源、新装备等领域的市场拓展实现大幅跃升，培育新质生产 力，为企业高质量发展注入新动能。(经济日报记者马洪超) 今年初以来，吉林化纤集团以改革赋能激活发展动力，深化三项制度改革、实施三层次人才激励、建立 三项工资制，一季度，该企业全员劳动生产率同比提高8.7%；选调生产研发人员深入市场进行产品深 度开发，以产销融合促进产品价值不断提升，人造丝销量同比增长7%、"华绒"牌超细旦抗起球聚丙烯 腈纤维成功入选中国纤维流行趋势纤维品牌，竹纤维销量同比增长82%。同时，该企业与碳纤维下游无 人机、汽车轻量化领域高端头部企业紧密合作，促进了新能源、低空经济领域的不断拓展，碳纤维在国 内风电领域市场份额达95%，无人机结构件市场份额达50%以上。 记者从吉林化纤（000420）集团获悉：今年一季度，吉林化纤集团加大改革力度，加快项目建设，助力 生产经营提质增效，实现销售收入同比增长22%；积极应对复杂严峻 ...

Core Viewpoint - The successful application of Sinapara aramid fiber in thermoplastic pipes enhances the operational efficiency and cost-effectiveness of subsea oil pipelines, providing safer solutions for offshore oilfield development [2][3] Group 1: Product Innovation - Sinapara aramid fiber SF6800 has been developed and applied for the first time in the enhancement of RTP pipes in China, addressing the challenges of subsea pipeline maintenance [2] - The new composite flexible pipeline features a corrosion-resistant inner layer, an aramid fiber reinforcement layer, and a wear-resistant outer layer, significantly improving the performance of subsea oil pipelines [2] Group 2: Operational Efficiency - The new RTP pipes can be inserted into existing pipelines, restoring their sealing and strength through thermal shrinkage, effectively solving deep-sea pipeline repair challenges [2] - Compared to traditional steel and fiberglass pipes, the aramid-reinforced RTP pipes exhibit high impact resistance, hydrolysis resistance, and stress corrosion resistance, suitable for transporting corrosive oil and gas [3] Group 3: Cost and Longevity Benefits - The installation efficiency of the new RTP pipes is five times that of traditional methods, with installation costs reduced by nearly 30% [3] - The lifespan of the new pipes can reach up to 25 years, with continuous lengths of several hundred to over a thousand meters, minimizing joints and significantly reducing the risk of pipeline leaks [3]

Financial Performance - In 2024, the company achieved a revenue of CNY 2.45 billion, a decrease of 2.69% year-on-year [2] - Net profit attributable to shareholders was CNY 741 million, down 15.12% year-on-year [2] - The return on equity (ROE) was 13.50%, a decline of 3.50 percentage points compared to the previous year [2] Segment Performance - Carbon fiber segment revenue was CNY 1.45 billion, down 12.91% year-on-year [3] - General new materials segment revenue was CNY 234 million, down 12.86% year-on-year [3] - Energy new materials segment revenue increased by 25.81% to CNY 537 million [3] - Composite technology segment revenue grew by 15.60% to CNY 107 million [3] - Precision machinery segment revenue rose by 161.20% to CNY 89 million [3] - Light technology segment revenue increased by 28.27% to CNY 25 million [3] Market Challenges - The decline in performance was primarily due to a downturn in the carbon fiber and prepreg sectors, with a notable drop in demand for T300 grade fibers [3] - The T300 fiber segment saw a revenue decrease of 39.4%, totaling CNY 516 million [3] - The market price for high-performance industrial carbon fibers dropped significantly, impacting revenue [3] Strategic Initiatives - The company is focusing on high-end applications and continuous product innovation to meet emerging market needs [2] - A total of 169 new patents were achieved in 2024, reflecting ongoing R&D efforts [3] - The company is expanding its applications in various sectors, including aerospace, automotive, and renewable energy [6] Future Outlook - The carbon beam business is expected to see a recovery in 2025, driven by existing orders [11] - The company anticipates stable demand for T300 grade products in the coming years [7] - The Bagou project is projected to incur losses in 2025 due to high fixed costs from initial investments [12] Customer and Contract Insights - The company is actively negotiating contracts for the CCF700G product, with ongoing supply [4] - The delivery pace for traditional products is expected to improve in 2025 [4] - The company has secured contracts for T800 grade fibers, with a focus on stable supply for large aircraft applications [5]

Core Viewpoint - The company reported a slight increase in total revenue for 2024, but a significant decline in net profit, indicating challenges in maintaining profitability despite revenue growth [1][2]. Financial Performance - In 2024, the company achieved total revenue of 649 million yuan, a year-on-year increase of 1.41% - The net profit attributable to shareholders was 130 million yuan, a year-on-year decrease of 15.25% - The non-recurring net profit was 124 million yuan, a year-on-year decrease of 14.65% - In Q4 2024, total revenue reached 222 million yuan, with a quarter-on-quarter increase of 82.46% and a year-on-year increase of 28.04% - Q4 net profit was 49 million yuan, with a quarter-on-quarter increase of 130.62% and a year-on-year increase of 41.58% [1]. Product Performance - The company achieved record sales in UHMWPE fibers and non-woven fabrics, with sales volumes of 5722 tons and 991 tons, respectively, representing year-on-year growth of 41.6% and 63.2% - The average price of UHMWPE fibers was 62,000 yuan per ton, a year-on-year decrease of 23.5% due to lower raw material costs - The gross profit margins for UHMWPE fibers and non-woven fabrics were 30.2% and 46.7%, respectively, with year-on-year changes of -7.3 percentage points and +6.8 percentage points [2][3]. Strategic Development - The company has a comprehensive industry chain layout in the UHMWPE fiber sector and aims to expand its core business boundaries by developing a "3+X" future fiber industry system - The focus is on high-performance, multifunctional, and green development in applications such as medical fibers, robotic dexterous hand tendons, and bulletproof equipment [3][4]. Future Growth Potential - The company acquired a new entity to enter the aramid fiber industry, creating a second growth curve - Continuous investment in R&D led to 24 new patent applications and 9 granted patents in 2024 - The global market for UHMWPE fibers is expected to grow at a compound annual growth rate of approximately 6% from 2025 to 2030, with demand projected to reach 200,000 tons by 2030 [4]. Investment Outlook - Projected net profits for 2025-2027 are 200 million, 240 million, and 290 million yuan, respectively, with corresponding price-to-earnings ratios of 19, 15, and 13 times based on the closing price of 16.25 yuan on March 31 - The company anticipates performance growth driven by new capacity, recovery of high-margin composite orders, and expansion into high-end applications [5].

文/梧桐数据中心 3月14日，IPO共审核2家公司（沪主板、创业板各1家），2家均获通过。 单位：万元 | | 沪主板 | | | | | | --- | --- | --- | --- | --- | --- | | 公司简称 | 主营业务 | 2023年营收 | 2023年净利润 | 审核结果 | 保荐/律所/审计 | | 海阳科技 | 尼龙6系列产品研发、 | 411,275.47 | 12,053.30 | 通过 | 东兴证券/国浩（南京）/ | | | 生产和销售 | | | | 中汇 | | | | | 创业板 | | | | 公司简称 | 主营业务 | 2023年营收 | 2023年净利润 | 审核结果 | 保荐/律所/审计 | | 汉桑科技 | 高端音频产品和音频全 链路技术解决方案 | 103,137.90 | 13,816.74 | 通过 | 中金公司/北京君合/天健 | 海阳科技 从事尼龙6系列产品研发、生产和销售。公司无控股股东；陆信才直接持有公司8.44%的股份，并通过赣州诚友控制公司12.34%的股份；陈建新、沈家 广、季士标、吉增明及茆太如等五人合计直接持有公司24.26%的股份 ...

海阳科技正是聚焦于该领域，通过不断深耕，公司已构建了一条围绕尼龙6的完整产品体系，主要产品覆盖了尼 龙6切片、尼龙6丝、帘子布，其中尼龙6切片是尼龙工业中链接化工原料和下游应用的中间体，广泛应用于纺 织、汽车、电子、薄膜等多个领域，对应的下游市场涉及民用纺丝、工业纺丝、电子元器件、汽车工业等多个 终端行业；帘子布则是车辆轮胎的重要骨架材料。 由于以上产品都是尼龙6生产工艺不同工序的产品，使用海阳科技自产尼龙切片可以进一步加工成尼龙6丝、帘 子布，这也让公司与外部采购切片用来生产尼龙6丝及帘子布的生产模式相比更具有成本、产品品质优势。 利用完善的品控体系和产品质量优势，海阳科技逐步培育了稳定的国内、国际客户群，与巴斯夫、恩骅力、晓 星集团、金发科技、华鼎股份、艾菲而、正新集团、中策橡胶、玲珑轮胎、森麒麟、佳通轮胎、浦林成山、双 星轮胎等国内国际一流企业建立了稳定的合作关系，成为国内尼龙6系列产品主要生产商之一。据招股书显示， 2023年度海阳科技尼龙6切片国内产量市场占有率为5.60%，公司尼龙帘子布国内产量市场占有率为15.71%，涤 纶帘子布产量市场占有率为6.14%，公司目前已占据较大市场份额。 稳定的客 ...