自动播放 2026 年伊始，营商环境成为各地发展的 "关键词"。中央党报《经济日报》头版头条聚焦江西，将赣州 维盛复合材料有限公司 "3 月开工、8 月投产、11 月入规" 的案例，作为一流营商环境的生动注脚。凤 凰网《前行者》特邀中制智库理事长新望、维盛复材总经理王维，深度解读政企协同背后的新逻辑，为 科创企业成长与区域经济发展提供参考样本。 一、 赣州速度：政企合力跑出科创加速度 作为一家总部位于北京的初创新材料企业，维盛复材为何选择赣州落地生产基地？答案藏在 "9 个月从 0 到 1" 的 "赣州速度" 里。 "赣州政府的高效服务和立体化金融支持，让我们能专注于技术和生产。" 王维坦言，北京总部用 3 年 时间完成了关键技术和工程化能力验证，投入上亿研发资金，这才为赣州基地的快速落地奠定了基础。 更值得一提的是，赣州不仅提供了跨部门审批的 "绿色通道"，还为企业招引了大量从深圳返乡的熟练 工人，人力成本较北京降低 20%-30%，生产效率却大幅提升。 王维对此深有体会："政府不是'甩手掌柜'，也不是'管理者'，而是'合伙人'。从厂房建设到员工招聘， 从审批流程到金融支持，赣州政府全程赋能，让我们少走了很 ...

2026年伊始，营商环境成为各地发展的"关键词"。中央党报《经济日报》头版头条聚焦江西，将赣州维 盛复合材料有限公司"3月开工、8月投产、11月入规"的案例，作为一流营商环境的生动注脚。凤凰网 《前行者》特邀中制智库理事长新望、维盛复材总经理王维，深度解读政企协同背后的新逻辑，为科创 企业成长与区域经济发展提供参考样本。 一、赣州速度：政企合力跑出科创加速度 作为一家总部位于北京的初创新材料企业，维盛复材为何选择赣州落地生产基地？答案藏在"9个月从0 到1"的"赣州速度"里。 "赣州政府的高效服务和立体化金融支持，让我们能专注于技术和生产。"王维坦言，北京总部用3年时 间完成了关键技术和工程化能力验证，投入上亿研发资金，这才为赣州基地的快速落地奠定了基础。更 值得一提的是，赣州不仅提供了跨部门审批的"绿色通道"，还为企业招引了大量从深圳返乡的熟练工 人，人力成本较北京降低20%-30%，生产效率却大幅提升。 中制智库理事长新望指出，赣州的核心优势在于"大湾区工业腹地"的定位——要素成本低、产业集群成 熟、市场半径短，这正是制造业企业发展的"洼地"。"现在的营商环境，早已不是靠税收补贴吸引企 业，而是靠产业链生 ...

（来源：嘉兴日报） 转自：嘉兴日报 ■记者 蔡舒安 通讯员 汪馨雨 "燃烧炉运行正常，压力正常。"2月23日一大早，浙江德鸿碳纤维复合材料有限公司销售副总龚兵兵赶 到厂区查看交班记录。新厂房落地后的第一个春节，他惦记着车间的一线工人和生产情况。 "你看，出炉的产品，颜色会比装炉之前的暗一点儿，这是出炉碳化之后产生的。"李进指着刚出炉的产 品，眼神发亮。每一件产品出炉后都有细微变化，别人看着都黑乎乎一片，他却看得出区别。 这些碳碳预制体内部存在大量孔隙，经过看似简单的压实处理，将变得强度高、耐烧蚀、抗腐蚀性 强。"模压工艺就好比压年糕，压紧了才瓷实。"龚兵兵打了个比方，常规的增密工艺需要90天，企业经 过技术升级，最快只需要45天，效率翻倍。 这一技术"压"出了速度，也"压"出了底气。在魏塘街道落地后，德鸿碳材仅用1年时间就迅速实现产业 规模化，产值超亿元。 如今建设新厂区，就是为了满足新工艺、新产品的布局。"我们团队已经在碳基复合材料行业深耕十余 年，走创新的差异化工艺路线，能大幅缩短产品生产周期，优势突出。"说起产品，龚兵兵如数家珍。 目前，企业产品主要运用在光伏、真空炉等领域，每年的研发经费投入占销售额的 ...

经济观察网赫氏(HXL.N)股价于2026年2月13日创下60日新高，收盘报89.65美元，单日上涨0.79%。年 初至今累计涨幅达21.57%，显著跑赢大盘指数。 股票近期走势 近期趋势：2026年1月15日至2月13日，股价累计上涨7.66%，区间振幅达16.00%。年初至今涨幅 21.57%，显著跑赢道琼斯指数(-1.47%)和纳斯达克指数(-2.32%)同期表现。 近期事件 股息派发落地：公司于2月9日除权除息，每股派息0.18美元，派息资金于2月17日到账。除权后股价短 暂调整，但随后快速修复并创新高，反映市场对现金回报的积极反应。 财报业绩支撑：2025年第四季度营收4.91亿美元(同比增3.7%)，净利润0.46亿美元(同比大幅增长)，调整 后营业利润率提升至13.3%。尽管全年营收同比微降0.5%，但四季度盈利改善提振信心。 行业政策与环境 航天军工板块走强：2月13日美股航天军工板块上涨1.16%，受商业航天主题催化。SpaceX宣布并购xAI 并计划IPO，推动产业链情绪升温；机构报告指出，商业航天成为2026年投资主线，低轨卫星部署加速 利好复合材料供应商。 股价创新高：2026年2月1 ...

Financial Data and Key Metrics Changes - In Q4, net sales improved by 9% to $924 million, driven by solid organic growth and acquisitions, partially offset by wholesale shipment declines in RV, Marine, and housing markets [8][21] - Adjusted Earnings Per Diluted Share was $0.84, including approximately $0.06 of dilution from Convertible Notes and related warrants [8][24] - For the full year, net sales increased by 6% to approximately $4 billion, with Adjusted Earnings Per Diluted Share at $4.44, including additional dilution of $0.26 related to Convertible Notes [8][22] - Free cash flow for the year was $246 million, enabling reinvestment in the business and strategic acquisitions [8][25] Business Line Data and Key Metrics Changes - RV revenues increased by 10% to $392 million in Q4, representing 43% of consolidated sales, with RV content per wholesale unit for the full year increasing by 7% to $5,190 [12][22] - Marine revenues increased by 24% to $150 million year-over-year, with estimated Marine content per wholesale powerboat unit for the full year increasing by 11% to $4,327 [14][22] - Powersports revenue increased by 39% to $109 million in Q4, representing 12% of consolidated sales [16][22] - Housing revenue decreased by 5% to $272 million, representing 29% of consolidated sales, with MH content per wholesale unit flat at $6,633 for the full year [17][22] Market Data and Key Metrics Changes - Demand in end markets is shaped by macro uncertainty and tariff volatility, leading to cautious consumer behavior [11] - Estimated RV retail unit shipments were approximately 60,100 in Q4, with wholesale unit shipments around 75,000 [13] - Estimated Marine retail and wholesale powerboat unit shipments were 17,300 and 33,000 units, respectively, in Q4 [15] - Estimated MH wholesale shipments are expected to be flat to up 5% for the full year 2026 [29] Company Strategy and Development Direction - The company focuses on disciplined execution, scalability, strategic capital allocation, and reinforcing customer relationships [4] - Recent acquisitions, including Medallion Instrumentation Systems and Elkhart Composites, enhance the company's technology and product offerings [4][5] - The company is optimistic about the long-term opportunity for composites, expecting to debut further manufacturing capabilities in 2026 [6] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver sustainable, profitable growth while managing costs and maintaining balance sheet strength [10] - The outlook for 2026 includes expectations for flat retail registrations in RV and Marine, with low to mid-single-digit increases in wholesale unit shipments [28][29] - Management noted that the current operating environment requires thoughtful discipline from OEMs and dealers regarding production and inventory levels [39] Other Important Information - The company increased its dividend by 17.5% this year, reflecting confidence in cash flows [9] - The Experience, a new virtual design and reality solution, has been positively received, enhancing customer collaboration [19][20] Q&A Session Summary Question: Content per unit increases - Management indicated that increases in content per unit are a combination of larger units and share gains [32] Question: Operating margin outlook - The expansion of 70-90 basis points in operating margin is driven by volume increases and improved cost structure [33] Question: Shipment cadence expectations - Management expects disciplined inventory management in Q1, with an anticipated uptick in Q2 and Q3 as the selling season progresses [39] Question: Cost pressures and pricing - Management noted stability in pricing across many products, with some commodity costs still fluctuating [46] Question: Marine revenue growth drivers - The majority of marine revenue growth is attributed to content gains from new product development rather than acquisitions [53] Question: Aftermarket sales and SKU additions - Management indicated that the impact of SKU additions on aftermarket sales will be assessed over the next 6-12 months [72]

Core Viewpoint - Ceramic Matrix Composites (CMC) exhibit excellent high-temperature performance and have broad applications in commercial aerospace, aviation, nuclear power, and automotive sectors, with significant market potential. China leads in brake and thermal protection for aircraft but lags in aviation engine applications [3][4]. Group 1: CMC Characteristics and Applications - CMC is defined as composites that incorporate reinforcing materials into a ceramic matrix, resulting in superior properties such as high-temperature resistance, low density, high specific strength, and oxidation resistance [4][15]. - SiCf/SiC composites are a research focus due to their enhanced oxidation resistance and longevity, making them ideal for high-temperature applications [4][21]. - In the aerospace sector, SiCf/SiC is recognized as an ideal material for the hot end of aviation engines, already in mass production for static components, with ongoing exploration for rotating parts [5][25]. - In nuclear energy, SiCf/SiC composites are considered ideal candidates for reactor cladding and control rods due to their high melting point and excellent neutron irradiation stability [5][44]. Group 2: Market Growth and Trends - The global CMC market was valued at $11.9 billion in 2022 and is projected to grow at a CAGR of 10.5%, reaching $21.6 billion by 2028, with the highest market share in defense and aerospace applications [6]. - The demand for CMC in China's aviation engine sector is expected to reach a turning point in 2024, driven by technological advancements and cost reductions [11][9]. Group 3: CMC Production and Industry Landscape - CMC production involves complex processes with high barriers to entry, including fiber preparation, preform weaving, interface layer preparation, matrix preparation, and densification [7][8]. - GE has established a vertically integrated CMC supply chain, producing 20 tons of CMC prepreg and 10 tons of SiC fibers annually, with a tenfold increase in CMC component production expected over the next decade [8][39]. - China's CMC industry is relatively complete, with advancements in the production of second-generation SiC fibers and ongoing development of third-generation fibers, although industrial-scale production remains a challenge [9][10]. Group 4: Investment Opportunities - The potential for growth in China's aviation engine sector for CMC is significant, with upstream raw material demand expected to increase as applications mature [11][9]. - As CMC manufacturing technologies improve and fiber costs decrease, midstream CMC component manufacturers are poised for rapid development [11].

Core Insights - Hexcel (HXL) reported revenue of $491.3 million for the quarter ended December 2025, marking a year-over-year increase of 3.7% and exceeding the Zacks Consensus Estimate by 2.7% [1] - The earnings per share (EPS) for the same period was $0.52, consistent with the previous year and surpassing the consensus estimate by 4.31% [1] Financial Performance - Net Sales in Commercial Aerospace - Composite Materials reached $257.9 million, exceeding the average estimate of $246.71 million, with a year-over-year increase of 10.3% [4] - Net Sales in Defense, Space & Other - Composite Materials were $136.6 million, above the average estimate of $129.02 million, reflecting a year-over-year growth of 24% [4] - Net Sales in Commercial Aerospace - Engineered Products totaled $41.6 million, below the estimated $46.92 million, showing a decline of 6.5% year-over-year [4] - Total Net Sales in Composite Materials amounted to $415.1 million, surpassing the average estimate of $375.72 million, with a year-over-year increase of 5% [4] - Operating income for Composite Materials was reported at $85.2 million, significantly higher than the estimated $39.49 million [4] Stock Performance - Hexcel's shares have returned +7.7% over the past month, outperforming the Zacks S&P 500 composite's +0.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Core Viewpoint - The company, Stik (300806), is focused on the research, production, and sales of functional coating composite materials, aiming to serve diverse downstream application fields through technological innovation and product upgrades [1] Group 1 - The company emphasizes strict adherence to information disclosure laws and regulations, committing to timely announcements in designated media for any significant operational matters that meet disclosure standards [1]

2月2日，中材科技跌5.06%，截至发稿，报40.71元/股，成交11.34亿元，换手率1.62%，总市值683.16亿 元。 从基金十大重仓股角度 数据显示，贝莱德基金旗下1只基金重仓中材科技。贝莱德中证500指数增强A（025418）四季度持有股 数10.73万股，占基金净值比例为0.91%，位居第八大重仓股。根据测算，今日浮亏损失约23.28万元。 贝莱德中证500指数增强A（025418）成立日期2025年9月26日，最新规模2.68亿。今年以来收益 10.33%，同类排名1164/5579；成立以来收益11.65%。 资料显示，中材科技股份有限公司位于北京市海淀区东升科技园北街6号院7号楼12层，成立日期2001年 12月28日，上市日期2006年11月20日，公司主营业务涉及大力发展风电叶片、玻璃纤维及制品、锂电池 隔膜三大主导产业,同时从事高压复合气瓶、膜材料及其他复合材料制品的研发、制造及销售。主营业 务收入构成为：风电叶片39.01%，玻璃纤维及制品28.05%，锂电池隔膜6.96%，技术与装备6.44%，工 程复合材料5.99%，高压气瓶4.77%，先进复合材料4.12%，膜材料制品3.2 ...

现场，振石控股集团董事局主席张毓强，振石控股集团总裁、振石股份董事长张健侃与嘉宾代表共同执锤，以"坚如磐石"的信念敲响企业加速迈向世界一 流的最强音。 从桐乡凤凰湖畔到上海黄浦江畔、从纤维材料到资本舞台，这一刻，标志着这家深耕新能源复合材料20余年的行业冠军，正式开启高质量发展的新起 点。"我们将严格遵循现代企业制度规范运作，并以本次公开发行为契机，将募集资金精准投向风电、光伏、新能源汽车领域产品的研发与规模化生 产。"张健侃表示，振石股份持续加码创新研发，构筑坚实技术壁垒，在多个细分领域实现全球领先。未来，企业一方面将持续巩固在风电材料领域的引 领地位，推动叶片大型化、轻量化技术迭代；另一方面将聚焦光伏边框、新能源汽车复材等"四新"市场，加速打造"第二增长曲线"，实现高质量可持续发 展。 振石股份的成功上市，源于坚实的发展根基。据介绍，振石股份自成立以来，从风电材料领域起步，逐步构建起覆盖风电、光伏、新能源汽车等多个清洁 能源板块的多元化产品体系，成长为全球细分市场的领军者。尤其在"十四五"期间，该企业紧扣"双碳"目标，抢抓能源结构转型机遇，实现产能、技术、 市场占有率的全面突破，风电产品营收占比超85%， ...