Core Viewpoint - The recent progress in Hebei Haiwei Electronic New Materials Technology Co., Ltd.'s (Haiwei Electronics) Hong Kong IPO application reflects the company's strategic move to access international capital markets, which could enhance its competitive position in the rapidly growing new energy sector [6] Company Overview - Haiwei Electronics has submitted its main board listing application to the Hong Kong Stock Exchange on August 27, following an initial application on February 26 [1] - The company is the second-largest capacitor film manufacturer in China, holding a 10.9% revenue share in the capacitor base film market in 2024 [3] Industry Insights - The capacitor base film market in China is experiencing robust growth, with a projected increase in volume from 46,200 tons in 2019 to 113,400 tons by 2024, representing a compound annual growth rate (CAGR) of 19.7% [4] - The market is expected to further expand to 224,100 tons by 2029, with a CAGR of 14.1% from 2025 to 2029 [4] - The market for capacitor base films used in electric vehicles is anticipated to grow from 47,800 tons in 2025 to 87,300 tons by 2029, with a CAGR of 16.2% [4] - The market for capacitor base films in new energy power systems is projected to increase from 34,200 tons to 79,800 tons during the same period, with a remarkable CAGR of 23.6% [4] Technical Capabilities - Haiwei Electronics is distinguished among major capacitor film manufacturers in China for its unique technical capabilities, being the only company with the ability to independently design and develop capacitor base film production lines [5] - The company has five production lines for capacitor base films, all of which are self-designed, developed, and assembled [5] - The thickness of Haiwei Electronics' capacitor film products ranges from 2.7 micrometers to 13.8 micrometers, catering to diverse application needs [5]