Core Viewpoint - Ningbo Nengzhiguang New Materials Technology Co., Ltd. is preparing for its listing on the Beijing Stock Exchange, facing scrutiny over its financial practices and governance issues, particularly regarding its actual controller and financial internal controls [1][4][19] Company Overview - Nengzhiguang specializes in the research, production, and sales of polymer additives and functional polymer materials, serving various industries including automotive, electronics, and packaging [1][2] - The actual controller, Zhang Farou, holds over 51% of the voting rights and serves as both chairman and general manager, raising concerns about potential conflicts of interest [5][19] Financial Performance - The company reported a slowdown in revenue growth from 5.02% in 2022 to 2.44% in 2023, with projected revenues of 6.11 billion in 2024 [15] - Net profit showed fluctuations, with a decline of 9.45% in 2022 followed by a significant increase of 127.8% in 2023 [15] - The gross margin improved from 12.03% in 2022 to 17.05% in 2024, indicating a positive trend in profitability [16] Financial Control Issues - There have been instances of financial irregularities, including the use of employee personal accounts for client deposits and inadequate management of accounts receivable [5][18] - The company has maintained high levels of accounts receivable, with figures of 1.26 billion, 1.08 billion, and 1.14 billion over the past three years, raising concerns about cash flow and collection efficiency [16][17] IPO and Fundraising Plans - Nengzhiguang plans to issue up to 21,564,900 shares to raise approximately 160.08 million for expansion projects and working capital [8][10] - The proposed expansion project aims to increase production capacity by 30,000 tons, which is 60% of the current capacity, raising questions about the necessity and feasibility of such an expansion given the current market conditions [10][11] Research and Development - The company's R&D expenditure has been below industry averages, with rates of 1.86%, 1.92%, and 2.16% from 2022 to 2024, compared to industry peers averaging around 2.88% [12][14] - Nengzhiguang's R&D investment is critical for maintaining its high-tech status, as it currently does not meet the required threshold for high-tech enterprise certification [12][14] Governance and Regulatory Scrutiny - The company has faced regulatory scrutiny due to governance issues, including a warning issued to its controlling shareholder for short-term trading and concerns over information disclosure practices [19] - Recent regulatory actions have raised investor concerns about the company's governance and internal controls, potentially impacting its IPO prospects [19]

01 2023年仅有奥升德刚与公司合作即成为公司主要客户，奥升德基本情况如下： 问询 根据问询回复文件，（1）发行人 2023年业绩大幅增长，发行人2023年存在部分客户如奥升德刚与发行人合作即成为发行人工程塑料改性助剂主要客户的 情形。 （2）发行人收入确认依据仅为客户签字确认的签收单。 请发行人说明：（1）2023年部分客户刚与发行人合作即成为发行人主要客户的原因、背景和合理性，是否与发行人及相关主体存在关联关系或其他利益 往来。 （2）收入确认依据仅为客户 签字确认的签收单的有效性，是否存在物流收货人和客户签字人员不一致的情形，说明发行人如何确认客户签字人员 的身份真实性，是否与客户定期对账。 【公司简介】 宁波能之光新材料科技股份有限公司是从事高分子助剂及功能高分子材料的研发、生产和销售的高新技术企业，主要生产高分子助剂和功能高分子材料。 02 回复 一、2023年部分客户刚与发行人合作即成为发行人主要客户的原因、背景和合理性，是否与发行人及相关主体存在关联关系或其他利益往来 （一）奥升德基本情况 | 交易主体名称 | 奥升德功能材料(苏州)有限公司 | | --- | --- | | 法定代表人 | ...

Core Viewpoint - Zhejiang Xinhengtai New Materials Co., Ltd. has received approval for its IPO on the Beijing Stock Exchange, focusing on the research, manufacturing, and sales of functional polymer foam materials [2] Financial Performance - Revenue projections for Xinhengtai from 2022 to 2024 are 530 million yuan, 679 million yuan, and 774 million yuan respectively, indicating a growth trend [2] - Net profit for the same period is expected to be 45 million yuan, 101 million yuan, and 91 million yuan respectively, showing fluctuations in profitability [2] - Gross profit margins are projected at 22.98%, 27.9%, and 25.37% for the years 2022, 2023, and 2024 respectively, reflecting a relatively stable margin [2] Balance Sheet Highlights - Total assets are projected to increase from approximately 729 million yuan in 2022 to over 1 billion yuan by 2024 [3] - Shareholder equity is expected to grow from approximately 386 million yuan in 2022 to about 665 million yuan in 2024 [3] - The debt-to-asset ratio is projected to decrease from 45.45% in 2022 to 34.13% in 2024, indicating improved financial stability [3] Shareholder Structure - The controlling shareholders of Xinhengtai are Chen Chunping, Jin Wei, and their son Chen Junhua, who collectively hold 75.04% of the voting rights [3]

【DT新材料】 获悉， 6月5日， 山东莱威新材料有限公司 （以下简称"莱威新材料"）与武汉经开区签订合作协议，将在通航产业园投资建设莱威新材 料项目，打造 年产万吨级超高分子量聚乙烯纤维生产基地 。未来，根据企业发展需求，莱威新材料还将在经开区建设二期高性能复合材料生产线。 莱威新材料 是 山东省制造业单项冠军企业、国家级专精特新"小巨人"企业、国家高新技术企业 ，专业从事高端复合材料产品研发、生产和销售。该公 司已实现关键技术完全自主可控及生产设备、材料国产化，产品涵盖高分子材料和先进陶瓷材料等领域。 超高分子量聚乙烯（UHMWPE）是由乙烯单体合成的高性能聚合物，分子量逾百万，兼具高度取向与结晶结构。其比强度达优质钢的15倍，耐磨损、 耐化学腐蚀性优异，且密度仅为0.97 g/cm³。作为国防防护、海洋工程及生物医学领域的核心材料，近年来，还广泛应用于在 汽车制造、无人机制造及 新兴的eVTOL（电动垂直起降飞行器） 领域。 UHMWPE凭借轻质高强特性，持续推动尖端装备与民用技术的革新突破。 目前国内约有20家UHMWPE纤维生产企业，总产能已超过国外总和，国内企业91%的产能为 湿法工艺 ，且较多头 ...

值得一提的是，5月以来，北交所新受理企业已达12家。其中，新恒泰、森合高科分别于6月10日、6月5 日获受理。 新恒泰也是国家级专精特新"小巨人"企业，专注于功能性高分子发泡材料的研发、制造和销售。经过十 余年的发展，现已成为国内知名的具备多种发泡材料规模化生产能力的供应商。公司主要产品包括化学 交联聚乙烯发泡材料、电子辐照交联聚乙烯发泡材料、聚丙烯微孔发泡材料，也包括聚氨酯微孔发泡材 料、非发泡 PVC 耐磨层等。公司本次IPO拟募集资金约3.8亿元，扣除发行费用后拟投资于年产5万立方 米微孔发泡新材料项目、IXPE生产线技改扩建项目、研发中心建设项目、补充流动资金。 森合高科是一家专注于环保型贵金属选矿剂研发、生产及销售的高新技术企业，公司产品远销全球30多 个国家和地区，已与宁波中策、旺塔等主要下游直销（终端）客户建立了稳定的合作关系，同时不断加 强与国内知名黄金集团中国黄金、招金黄金、紫金矿业、山东黄金、赤峰黄金等终端用户的合作力度。 公司计划通过此次IPO募集4.9亿元资金，用于建设年产8万吨环保型贵金属提取剂项目（一期）。森合 高科2024年营收与净利润分别达到6.23亿元和1.5亿元，同比增长8 ...

【DT新材料】 获悉，激光焊接技术以其非接触、高效率、高精度及低热影响等优势，在新能源汽 车、低空经济装备及精密电子器件封装领域展现出巨大应用潜力。然而，过低的透过率会导致激光 在上层材料中过度吸收，造成焊接强度不足；而过高的透过率则需要通过降低模温来减少 PA 或 PBT 的结晶度，这不仅会影响材料的力学性能，还可能在激光熔融后冷却结晶过程中引发零件变 形。 在"2025先进尼龙产业创新与应用开发大会"上， 成都博材高分子材料有限公司、重庆博材高分子 材料有限公司 朱雄波 总经理 发表了关于 《可激光焊接尼龙材料开发应用》 的主题演讲。 针对低翘曲变形问题，博材采用低粘度树脂基体，并结合特殊结晶调控技术，如共聚尼龙改性和精 选成核剂，同时优化玻纤取向工艺，显著降低了制件的变形，确保焊接面的平整度普遍控制在0.25 mm以下。 针对高透光需求，博材与合作伙伴共同开发了特种折射率匹配玻纤，使其折射率接近树脂基体，减 少激光散射损失。此外，还严格控制色粉添加，优选高着色力、低添加量的有机/无机器，将1mm 厚度材料的透光率提升至65%-82%，远超常规材料水平，确保了激光能量能高效穿透上层材料并 被下层吸收层精准 ...

深圳至正高分子材料股份有限公司董事会 关于本次交易符合《上市公司重大资产重组管理办法》第十 一条、第四十三条和第四十四条规定的说明 （四）本次交易所涉及的资产权属清晰，在相关法律程序和先决条件得到适 当履行的情形下，资产过户或者转移不存在法律障碍，相关债权债务处理合法； （五）本次交易有利于上市公司增强持续经营能力，不存在可能导致上市公 司重组后主要资产为现金或者无具体经营业务的情形； （六）本次交易有利于上市公司在业务、资产、财务、人员、机构等方面与 实际控制人及其关联人保持独立，符合中国证监会关于上市公司独立性的相关规 定； （七）本次交易前，公司已按照《中华人民共和国公司法》《中华人民共和 国证券法》和中国证监会的有关要求，建立了相应的法人治理结构。本次交易完 成后，公司仍将严格按照法律、法规和规范性文件及《公司章程》的要求规范运 作，不断完善公司法人治理机构。本次交易有利于公司保持健全有效的法人治理 结构。 综上，本次交易符合《上市公司重大资产重组管理办法》第十一条规定。 深圳至正高分子材料股份有限公司（以下简称"上市公司"、"公司"）拟 通过重大资产置换、发行股份及支付现金的方式取得先进封装材料国际 ...

Core Viewpoint - Shenzhen Zhizheng High Polymer Materials Co., Ltd. plans to conduct a major asset swap, issue shares, and pay cash to acquire Advanced Assembly Materials International Limited, along with raising supporting funds through related transactions [1]. Summary by Sections Major Asset Swap and Financial Updates - The company received an inquiry letter from the Shanghai Stock Exchange regarding the asset swap and related transactions on April 2, 2025, and disclosed a revised draft report on May 30, 2025 [1]. - The report was updated to reflect financial data as of December 31, 2024, and included revisions based on the inquiry letter [2]. Key Revisions in the Report - Definitions section was updated for better investor understanding [2]. - Major events and risks were updated to include 2024 financial data [2]. - The first chapter provided an overview of the transaction with updated financial data [2]. - The second chapter updated the company's 2024 financial data and share structure [2]. - The third chapter included updated financial and operational data for the transaction counterpart [2]. Asset Details - The fourth chapter provided basic information on the assets to be acquired, including operational qualifications [3]. - The fifth chapter updated the financial and operational data of the assets to be disposed of [3]. Funding and Compliance - The sixth chapter disclosed the specific uses of the raised funds [3]. - The seventh chapter included a fair value analysis of the asset pricing [3]. - The ninth chapter updated the compliance analysis based on new regulations [3]. Management and Financial Analysis - The tenth chapter included discussions and analyses from management [4]. - The eleventh chapter updated the financial data of the target company and pro forma financial data of the listed company [4]. - The thirteenth chapter analyzed risk factors based on the updated financial data [4]. Declarations - The eighteenth chapter updated declarations from the company's board, supervisors, and senior management based on the latest information [4].

客户H 深圳至正高分子材料股份有限公司 (除特别说明外，货币单位均为人民币元) 客户I之子公司i 3,709,482.32 3 , 7 0 9 ,4 8 2 . 3 2 100.00% 预 计无法 收回 其他 860,560.80 860,560.80 100.00% 预 计无法收 回 合 计 13,175,022.56 13,175,022.56 按组 合 计 提 坏 账 准 备 ： 组合 计 提 项 目： 按信 用风 险特 征 组 合 计 提 坏 账 准 备 的应 收 账 款 名 称 应收 账款 坏账 准 备 预期 信 用 损失 率 按信用风险特征组合计 提坏账准备的应收账款 合 计 6 1 1 , 9 60 , 4 6 8 . 3 0 2 , 21 5 , 9 76. 5 8 0. 36% (3) 报 告期 计 提 、 收 回或 转 回 的坏 账 准 备情 况 项 且 2 0 2 4 . 12 . 3 1 本期计 提 5 9 5, 3 2 3 . 0 0 本期核 销 520,819.91 本期收回或转 回 786,696.72 外币报表折算差 异 171,755.00 ( 4) 报 告 期 实 际核 销 ...

金十数据5月29日讯，隆扬电子公告称，公司拟以1.2亿元收购常州威斯双联科技有限公司51%的股权， 交易完成后，威斯双联将成为公司的控股子公司。威斯双联与隆扬电子同属同一行业，具有显著的协同 效应，其在高分子材料及吸波材料研发领域具备深厚的技术积累和创新能力。本次交易无需提交股东大 会审议，不构成关联交易和重大资产重组。 隆扬电子：拟1.2亿元收购威斯双联51%股权 ...