Company Overview - Nobon Co., Ltd. was established in 2002, specializing in the R&D, production, and sales of differentiated and personalized water-jet non-woven materials and products [2] - The company's revenue and net profit attributable to shareholders are projected to have a CAGR of 17.7% and 2.8% respectively from 2015 to 2024 [2] - In 2024, the company is expected to achieve revenue of 2.24 billion yuan, a year-on-year increase of 16.8%, and a net profit of 95.23 million yuan, a year-on-year increase of 15.2% [2] - In Q1 2025, revenue and net profit are expected to grow by 39.1% and 48.6% year-on-year respectively [2] - The revenue share of water-jet non-woven materials and products in 2024 is projected to be 31.7% and 67.5% respectively, with year-on-year changes of -1.2% and +27.8% [2] Industry Situation - Water-jet non-woven products are widely used in high-demand disposable consumer goods markets such as wet wipes and beauty care products due to their breathable, soft, lightweight, and antibacterial properties [3] - The production of water-jet non-woven fabric reached 1.51 million tons in 2023, with a compound annual growth rate (CAGR) of 18.6% from 2018 to 2023 [3] - The penetration rate of non-woven fabric in the market has been gradually increasing, reaching 18.6% in 2023, an increase of 7.7 percentage points compared to 2018 [3] - The market size for wet wipes in China is projected to be 12.92 billion yuan in 2024, with a CAGR of 5.0% from 2024 to 2029, particularly for makeup wipes and wet toilet paper [3] Competitive Advantages - The company has a complete and advanced production line for roll materials, with outstanding technological innovation capabilities, being the only company in China capable of mass-producing dispersible materials for supply to the U.S. [4] - The company is steadily increasing the proportion of differentiated and dispersible material production, completing a technical transformation project for differentiated production lines in 2024 [4] - The subsidiary Guoguang is one of the most comprehensive manufacturers of wet wipe products in China, with a revenue growth of 26.6% in 2024 and over 40% in Q1 2025 [4] - Guoguang is deepening cooperation with major clients such as Walmart and actively exploring new customers, leading to steady growth in orders [4] - The self-owned brand "Xiaozhijia" is rapidly expanding, with a revenue increase of 80.6% year-on-year in 2024 [4]

证券简称：民士达 证券代码：833394 烟台民士达特种纸业股份有限公司 1-1-1 （济南市市中区经七路 86 号） 等特点，投资者面临较大的市场风险。投资者应充分了解北京证券交易所市场的投资风 烟台民士达特种纸业股份有限公司招股说明书（申报稿） 本公司的发行申请尚未经中国证监会注册。本招股说明书申报稿不具有据以发行股 票的法律效力，投资者应当以正式公告的招股说明书全文作为投资决定的依据。 本次股票发行后拟在北京证券交易所上市，该市场具有较高的投资风险。北京证券 交易所主要服务创新型中小企业，上市公司具有经营风险高、业绩不稳定、退市风险高 保荐机构（主承销商） 险及本公司所披露的风险因素，审慎作出投资决定。 声明 财务会计资料真实、准确、完整。 发行人及全体董事、监事、高级管理人员、发行人的控股股东、实际控制 资料不存在虚假记载、误导性陈述或重大遗漏，并对其真实性、准确性、完整 性承担连带责任。 述或重大遗漏，并对其真实性、准确性、完整性承担连带责任。 公司负责人和主管会计工作的负责人、会计机构负责人保证招股说明书中 1-1-2 山东省烟台市经济技术开发区太原路 3 号 中国证监会和北京证券交易所对本次发行 ...

证券简称：民士达 证券代码：833394 烟台民士达特种纸业股份有限公司 烟台民士达特种纸业股份有限公司招股说明书（申报稿） 本公司的发行申请尚未经中国证监会注册。本招股说明书申报稿不具有据以发行股 票的法律效力，投资者应当以正式公告的招股说明书全文作为投资决定的依据。 本次股票发行后拟在北京证券交易所上市，该市场具有较高的投资风险。北京证券 交易所主要服务创新型中小企业，上市公司具有经营风险高、业绩不稳定、退市风险高 保荐机构（主承销商） 险及本公司所披露的风险因素，审慎作出投资决定。 1-1-1 山东省烟台市经济技术开发区太原路 3 号 中国证监会和北京证券交易所对本次发行所作的任何决定或意见，均不表 明其对注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不 表明其对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或 者保证。任何与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由 发行人自行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自 行承担股票依法发行后因发行人经营与收益变化或者股票价格变动引致的投资 风险。 （济南市市 ...