Core Viewpoint - Lianhong Xinke has successfully launched two major new energy material projects, enhancing its product portfolio and industry chain advantages, which is expected to positively impact the company's performance [1][2]. Group 1: Project Launches - The company’s subsidiary, Shandong Huayu Tongfang Electronic Materials Co., has successfully put into operation a 4,000 tons/year lithium battery additive, vinyl carbonate (VC), on December 22, 2025 [1]. - Another subsidiary, Lianhong Gelun (Shandong) New Materials Co., has also launched its integrated project for new energy materials and biodegradable materials [1]. - The VC product is currently the most widely used additive in lithium battery electrolytes, significantly improving battery capacity and cycle life [2]. Group 2: Market Demand and Future Projections - The lithium battery industry is experiencing increased demand driven by sectors such as power, energy storage, and low-altitude economy, leading to a rapid rise in market prices for lithium solvents and additives [2]. - Industry forecasts predict that the demand for power and energy storage batteries will grow by over 30% by 2026, with energy storage batteries potentially increasing by more than 50% [2]. Group 3: Production Capacity Expansion - The integrated project will add a 300,000 tons/year propylene oxide (PO) facility, a natural gas hydrogen production facility, a 1.3 million tons/year methanol-to-olefins (MTO) facility, a 200,000 tons/year EVA facility, and a 240,000 tons/year polyether polyol (PPG) facility [2]. - With the new facilities, Lianhong Xinke will have two 1.3 million tons/year MTO plants, ensuring stable and sufficient raw material supply [2]. - The total EVA production capacity will exceed 350,000 tons/year, and the PPG facility will utilize industry-leading continuous processing technology [2]. Group 4: Financial Performance - In the first three quarters, the company achieved a revenue of 4.568 billion yuan, a year-on-year decrease of 8.02%, while net profit reached 232 million yuan, a year-on-year increase of 30.32% [3]. - The company benefited from price increases in key products like EVA and UHMWPE, with a significant net profit increase of 90.9% in the third quarter alone, amounting to 71.73 million yuan [3].

联泓新科（003022）(003022.SZ)发布公告，生物可降解材料是公司战略发展的重点方向之一，公司控 股子公司江西科院生物新材料有限公司(下称"科院生物"或"标的公司")主要从事乳酸、聚乳酸的研发、 生产与销售。为加快公司战略布局及发展，补充科院生物流动资金，改善其资产负债结构，公司拟以自 有资金向科院生物增资1.5亿元，科院生物其他股东不同步参与本次增资。 ...

智通财经APP讯，联泓新科(003022.SZ)发布公告，生物可降解材料是公司战略发展的重点方向之一，公 司控股子公司江西科院生物新材料有限公司(下称"科院生物"或"标的公司")主要从事乳酸、聚乳酸的研 发、生产与销售。为加快公司战略布局及发展，补充科院生物流动资金，改善其资产负债结构，公司拟 以自有资金向科院生物增资1.5亿元，科院生物其他股东不同步参与本次增资。 ...

格隆汇12月5日丨联泓新科(003022.SZ)公布，生物可降解材料是联泓新材料科技股份有限公司战略发展 的重点方向之一，公司控股子公司江西科院生物新材料有限公司（下称"科院生物"或"标的公司"）主要 从事乳酸、聚乳酸的研发、生产与销售。为加快公司战略布局及发展，补充科院生物流动资金，改善其 资产负债结构，公司拟以自有资金向科院生物增资1.5亿元，科院生物其他股东不同步参与本次增资。 ...

每经AI快讯，联泓新科（SZ 003022，收盘价：19.17元）12月5日晚间发布公告称，生物可降解材料是 联泓新材料科技股份有限公司战略发展的重点方向之一，公司控股子公司江西科院生物新材料有限公司 主要从事乳酸、聚乳酸的研发、生产与销售。为加快公司战略布局及发展，补充科院生物流动资金，改 善其资产负债结构，公司拟以自有资金向科院生物增资1.5亿元，科院生物其他股东不同步参与本次增 资。 2025年1至6月份，联泓新科的营业收入构成为：先进高分子材料占比56.7%，特种精细材料占比 23.35%，副产品及其他占比19.95%。 每经头条（nbdtoutiao）——秒光、售罄！银行大额存单成稀缺资源，2%以上产品很难抢，有的门槛高 达1000万元！专家：存款利率或长期下行 （记者 王晓波） 截至发稿，联泓新科市值为256亿元。 ...

Group 1 - The project of Inner Mongolia Zhongke Kelan New Materials Technology Co., Ltd. for producing 33,000 tons of fully biodegradable materials (PDA) has reached a significant milestone with the completion of the main structure and the arrival of the first batch of production equipment [2][3] - The PDA project is divided into two phases, with Phase 1 aiming to establish a production capacity of 3,000 tons and Phase 2 targeting an additional 30,000 tons [2][3] - The project is expected to start equipment installation by the end of November and achieve continuous production of 3,000 tons of PDA by June 2026, with Phase 2 preparations already underway [3] Group 2 - PDA, developed by Beijing Zhongke Kelan New Materials Technology Co., Ltd., is designed to fully degrade in various natural environments without leaving microplastic residues, aligning with national green development strategies [3] - The stable supply of BDO (1,4-butanediol), with a current production capacity of 1.6 million tons in Wuhai, is crucial for the large-scale production of PDA [3] - Zhongke Kelan's PDA products are tailored for four major fields: electronic information, ecological agriculture, marine applications, and innovative applications, and have been successfully applied by several Fortune 500 companies [4]

Market Overview - The global polylactic acid (PLA) market is projected to grow significantly from 2020 to 2031, with various product types showing distinct growth trends [4][5] - The PLA industry is categorized into several product types including injection grade, extrusion and thermoforming grade, film grade, fiber grade, 3D printing grade, and coating grade [4][5] Application Segmentation - The main applications of PLA include tableware, food and beverage packaging, electronics, medical and personal care, 3D printing materials, and others, with each segment expected to experience growth from 2020 to 2031 [4][5][6] Industry Development Status - The overall development of the PLA industry is characterized by increasing demand driven by environmental concerns and the shift towards biodegradable materials [4][5] - Key factors influencing the PLA industry include favorable conditions such as technological advancements and regulatory support, as well as challenges like competition from conventional plastics [4][5][6] Supply and Demand Analysis - Global PLA supply and demand dynamics are expected to evolve from 2020 to 2031, with production capacity, output, and utilization rates being critical metrics [5][6] - The report highlights the production capacity and output trends in major regions, including North America, Europe, and Asia-Pacific [5][6] Revenue and Sales Trends - The global PLA market revenue is anticipated to increase significantly, with detailed projections provided for various regions and product types from 2020 to 2031 [5][6] - The report includes sales volume and revenue data for both global and Chinese markets, indicating the market share of PLA in the overall bioplastics sector [5][6] Competitive Landscape - The competitive landscape of the PLA market is analyzed, focusing on major manufacturers and their market shares, production capacities, and revenue rankings [6][7] - Key players in the PLA industry include NatureWorks, TotalEnergies Corbion, and others, with detailed profiles provided for each [6][7] Regional Analysis - The report provides a comprehensive analysis of PLA market dynamics across different regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa [6][7] - Each region's sales volume, revenue, and market share are projected for the years 2020 to 2031, highlighting growth opportunities [6][7] Product Type Analysis - Different product types of PLA are analyzed in terms of sales volume and revenue, with forecasts extending to 2031 [6][7] - The report emphasizes the importance of understanding market trends for specific PLA product types to identify investment opportunities [6][7] Application Analysis - The report details the sales volume and revenue of PLA across various applications, projecting growth trends from 2020 to 2031 [6][7] - Understanding application-specific trends is crucial for stakeholders looking to capitalize on the growing demand for PLA [6][7]

Core Viewpoint - Haizheng Biomaterials (688203.SH) has faced significant challenges after its initial public offering, with declining profits and increasing competition in the polylactic acid (PLA) market despite being a pioneer in the industry [3][4][7]. Financial Performance - The company reported its best profit in 2022, but subsequent years have seen a decline in net profit, with decreases of 7.41% in 2023, 18.47% in 2024, and a staggering 97.45% in Q1 2025 [4][6]. - Revenue for 2024 was 845 million, a year-on-year increase of 12.2%, but the gross margin fell to 12.71% in 2024, down 0.33 percentage points from 2023 [20][23]. Market Position and Competition - Haizheng Biomaterials is the first domestic and second global company to commercialize PLA production, holding a leading market share in China [7][47]. - The industry has seen rapid capacity expansion following domestic technological breakthroughs, leading to potential oversupply and reduced profitability [7][40][46]. Production Capacity and Delays - The company has faced delays in expanding its production capacity, with the initial plan for a 150,000-ton annual capacity project being adjusted to a phased implementation due to market conditions [24][26][27]. - As of the end of 2024, the first phase of the project was 70% complete, while the second phase was only 15% complete, with further delays anticipated [27]. Industry Dynamics - The PLA industry benefits from government support for biodegradable materials, with PLA projected to account for 37.1% of the bio-based materials market by 2024 [28][30]. - However, demand is primarily driven by policy rather than market forces, leading to challenges in adoption due to higher costs compared to traditional plastics [38][49]. Product Development - The company has developed various PLA grades tailored for different applications, including 3D printing, which saw a 185.67% increase in sales in 2024 [34][35]. - The revenue from modified PLA resins reached 187 million in 2024, indicating a focus on diversifying product offerings [35]. Future Outlook - Despite the promising market for biodegradable materials, the rapid expansion of production capacity across the industry poses a risk of oversupply, reminiscent of the solar energy sector's challenges [49].

Industry Overview - Biodegradable materials are high molecular materials that can undergo chemical, biological, or physical degradation in the natural environment through microbial metabolic activities, ultimately breaking down into harmless substances like water and carbon dioxide [1][4] - The industry can be categorized into natural biodegradable materials, synthetic biodegradable materials, and blended biodegradable materials based on their sources [4] Industry Development History - The biodegradable materials industry in China has gone through four stages: the budding phase (1990s to 2005), the initiation phase (2006 to 2014), the rapid growth phase (2015 to 2020), and the adjustment and optimization phase (2020 to present) [4][5] - The implementation of the "strictest plastic ban" in 2018 significantly boosted the demand for biodegradable materials, expanding their application from agriculture to packaging, takeaway, and medical fields [4][5] Industry Chain - The upstream of the biodegradable materials industry includes raw materials (biobased and petroleum-based) and production equipment, while the midstream involves the manufacturing of biodegradable materials [7] - The downstream applications encompass packaging, agriculture, modern medicine, 3D printing, and textiles [7] Market Size - The market size of China's biodegradable materials industry is projected to reach 29.9 billion yuan in 2024, with a year-on-year growth of 29.59% [11] - The increasing environmental awareness among consumers is driving the demand for green and eco-friendly materials across various sectors [11] Key Companies' Performance - The market is segmented into four tiers based on production capacity, with leading companies like Hengli Petrochemical and Kingfa Technology having capacities exceeding 200,000 tons per year [13] - Kingfa Technology has developed a complete industrial chain technology for biodegradable materials, holding over 6,800 patents and achieving significant breakthroughs in high-temperature resistant materials [15][17] - Hengli Petrochemical is expanding its production capacity with a planned 600,000 tons per year for biodegradable materials, aiming to become the largest production base in China [17] Industry Development Trends 1. **Technological Innovation and Cost Optimization** - The industry is focusing on technological breakthroughs in biomanufacturing, chemical technology integration, and raw material diversification to reduce production costs [19] 2. **Policy Drivers and Market Demand** - The upcoming 2025 "plastic ban" and increasing market demand for high-end biodegradable products are reshaping the industry landscape [20][21] 3. **Industry Chain Integration and Internationalization** - Companies are pursuing vertical integration and international expansion to enhance competitiveness, with notable collaborations and certifications aiding market entry [22]

Core Viewpoint - The article discusses the investment and development of a new biodegradable materials production facility by Weibo Jie Biological Materials (Zhejiang) Co., Ltd., focusing on the production of ε-caprolactone and polycaprolactone, which are essential for various applications in medical and industrial fields [1][2]. Group 1: Project Overview - The total investment for the ε-caprolactone and polycaprolactone production base project is 1.05 billion yuan, covering an area of 112 acres in Shaoxing City [1]. - The project aims to produce 30,000 tons of ε-caprolactone monomer and a series of polycaprolactone products annually, with a two-phase implementation plan [1][2]. - The first phase will complete all construction and establish a production line of 10,000 tons, while the second phase will add an additional 20,000 tons production line [1]. Group 2: Technical Aspects - The production process utilizes self-developed continuous flow technology, overcoming traditional batch reactor methods to address mass production challenges [1]. - ε-caprolactone is a cyclic ester compound crucial for synthesizing biodegradable polyesters, specifically polycaprolactone (PCL), which has excellent biocompatibility and degradability [1]. - PCL is widely used in medical devices, artificial bones, vascular scaffolds, and various industrial applications such as elastomers, synthetic leather, adhesives, and coatings [1]. Group 3: Market Implications - The facility will also produce 90,000 tons of acetic acid as a byproduct annually, indicating a significant contribution to the chemical industry [1]. - The development aligns with national carbon neutrality goals, focusing on the urgent need for environmentally degradable polymers in strategic emerging industries [2].