浙江万盛股份有限公司 2025 年半年度报告 公司代码：603010 公司简称：万盛股份 浙江万盛股份有限公司 浙江万盛股份有限公司 2025 年半年度报告 重要提示 一、 本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人高献国、主管会计工作负责人宋瑞波及会计机构负责人（会计主管人员）乐雁声 明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 本报告期公司不进行利润分配和公积金转增股本。 六、 前瞻性陈述的风险声明 √适用 □不适用 本半年度报告内容涉及的未来计划等前瞻性陈述因存在不确定性，不构成公司对投资者的实质承 诺，请投资者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 公司已在本 ...

Industry Overview - The demand for environmentally friendly and high-performance additives in the coating industry is continuously increasing due to the advancement of environmental policies, leading to the upgrade of additive products [1][12] - The market size of China's coating additives industry is projected to reach 53.959 billion yuan in 2024, with a year-on-year growth of 5.27% [1][12] Industry Development History - The coating additives industry in China has gone through four main stages: the initial stage (early 20th century to 1949), the foundational stage (1950 to 2000), the environmental transformation stage (2001 to 2019), and the high-quality development stage (2020 to present) [4][5] - The environmental transformation stage was marked by the introduction of strict regulations on harmful substances, which drove the demand for water-based additives [4][5] Industry Chain - The upstream of the coating additives industry includes raw materials such as ethylene oxide, cyanuric acid, and various organic and inorganic compounds [8] - The downstream applications of coating additives span across construction, automotive, marine, furniture, and industrial sectors [8] Market Size - The growth in demand for green products like water-based and solvent-free additives has partially offset the decline in traditional additive markets, becoming a key support for market size growth [1][12] Key Enterprises' Performance - Domestic companies such as Fengguang Co., Jiexian Co., and Changqing Technology have made significant advancements in product structure, quality, and technology, establishing themselves as industry leaders [14][18] - Fengguang Co. reported a revenue of 288 million yuan in Q1 2025, with a year-on-year growth of 18.39% [16] Industry Development Trends 1. Environmental policies are driving a rapid green transformation, with a target for solvent-based additives to drop below 30% by 2025, pushing for water-based and powder additives to become mainstream [20] 2. Key technologies are evolving towards green and intelligent production, with companies like Meichao Group and Nippon Paint implementing advanced production systems to enhance efficiency and reduce energy consumption [21] 3. Leading enterprises are accelerating integration and globalization, optimizing cost control through mergers and acquisitions, and focusing on functional products for export, which is expected to grow by 27.72% in 2024 [22]