会通股份作为国际化高分子改性材料企业，始终坚持"创新材料，成就客户，为人类创造绿色生活"的使命，深度理解客户应用场景，全方位满足客户的 价值需求，用专业为客户创造价值，成为客户身边的材料专家。近年来，公司为更好地保障技术自主可控，持续提升核心技术能力，不断推动相关技术 从改性向上游聚合延伸，例如近期落地"高温尼龙和聚醚醚酮（PEEK）聚合项目"，旨在通过打造"聚合—改性"一体化平台，筑牢核心技术壁垒，同 时，丰富公司高端特种材料产品线，拓宽在高端制造领域的应用场景。 在全球化布局方面，公司通过投资、收并购等方式多措并举，不断打造 "多基地、小规模、Local For Local" 的海外布局。在东南亚，通过直接投资设立 泰国公司与越南公司，形成辐射东南亚的市场布局；在北美，公司拟于墨西哥设立子公司，相关流程稳步推进；在欧洲，公司通过收购意大利本土企业 股权，未来将直接获得欧洲本地化运营平台，落地"本地生产、本地服务"的模式，快速提升在欧洲市场的占有率与客户服务能力。 12月26日，以"新开局、新动能、新征程"为主题的"启航·2025金融峰会"在北京圆满举办，大会由金融界主办，汇聚监管部门、行业协会、金融机构、 ...

会通股份(688219)12月23日晚公告，公司拟通过全资孙公司香港圆融与MICCA22S.R.L、INVESTAR S.R.L签署《股权转让协议》，分别以不超过1035万欧元受让MICCA22S.R.L与INVESTAR S.R.L各自持 有的OMIKRON35%股权，转让价款金额为2070万欧元及有关利息。 据会通股份12月23日晚最新公告，公司始终坚持"全球布局"的发展战略，围绕"本土化—国际化—全球 化"的海外发展路径稳健前行。本次对外投资，公司将充分利用OMIKRON的本土化生产制造能力与成 熟市场渠道，构建在欧洲市场覆盖生产、销售与服务的完整产业闭环。 公司与OMIKRON将在研发、生产、销售等多维度形成深度协同与优势互补，构建一体化运营能力，显 著强化产业协同价值、加速开拓海外市场并提升本地渗透率，更将为公司打开新的增长空间，筑牢长期 竞争的护城河。 会通股份主要从事高分子改性材料的研发、生产和销售，是国内规模最大、客户覆盖最广的高分子改性 材料企业之一，并在新能源领域进行战略布局，投资建设锂电池湿法隔离膜项目。 此前，会通股份在2025年第三季度业绩说明会介绍，美的集团（000333）是国际知 ...

Core Insights - The 2025 academician election emphasizes long-term contributions from researchers and engineers in the frontlines of scientific and engineering fields, with a notable increase in academicians from private enterprises [1][21] - This year's election saw three engineers from private companies, marking the highest number of private enterprise engineers elected in a single session [1][21] - The total number of academicians from private enterprises has now reached nine, with the 2025 election contributing significantly to this figure [1] Summary by Sections Election Highlights - The election of three engineers from private enterprises in 2025 is a significant milestone, reflecting a structural trend in the recognition of private sector contributions to technology and innovation [19][21] - The first academician from a private enterprise was elected in 2009, with a total of six academicians from private enterprises elected over the past decade [1][2] Industry Impact - The election aligns with China's strategic focus on technological innovation and industrial upgrading, particularly in sectors where private enterprises are becoming increasingly competitive [13][21] - The three elected academicians represent companies that are at the forefront of China's most competitive strategic industrial chains, including new energy vehicles, lithium batteries, and advanced materials [19][20] Notable Companies - BYD has achieved a cumulative sales volume of 3.7019 million vehicles in the first ten months of the year, with a year-on-year growth of 13.9%, positioning itself as a leader in the new energy vehicle sector [19] - CATL holds a dominant position in the global battery market, with one in three electric vehicles worldwide using its batteries, maintaining the largest market share for seven consecutive years [19] - Kingfa Technology is recognized as a leading polymer modification materials company, providing critical materials for intelligent robotics and low-altitude economy applications [19][20] Future Implications - The increase in academicians from private enterprises signals a shift towards a market-oriented innovation evaluation system, promoting the integration of industry, academia, and research [21] - This trend may reshape the landscape of technological innovation in China, as more leading talents from private enterprises gain recognition on the national stage [21]

Core Insights - The company reported a revenue of 4.721 billion yuan for the third quarter of 2025, representing a year-on-year increase of 10.03%, and a net profit attributable to shareholders of 166 million yuan, up 8.96% year-on-year [1] Group 1: Business Strategy and Future Outlook - The company aims to become a leader in the global new materials industry by focusing on four strategic pillars: "customer first, product leadership, lean operations, and global layout" [1] - The chairman emphasized the importance of optimizing organizational structure, reengineering business processes, and digital transformation as key support mechanisms for future profit growth [1] - The company is committed to continuous transformation initiatives to enhance overall organizational capability and efficiency [1] Group 2: Product Development and Market Expansion - The company is advancing its lithium battery wet separator film project with an annual production capacity of 1.7 billion square meters, with some production lines already operational [2] - In the robotics sector, the company is developing lightweight materials such as high-rigidity carbon fiber reinforced materials and high-performance PEEK materials to meet diverse customer needs [2] - The company is also exploring opportunities in various industries, including home appliances, automotive, robotics, consumer electronics, and low-altitude economy, while establishing a three-tier R&D system for long-term technological exploration [2]

Core Insights - The appointment of Qin Huaili as the Deputy General Manager is a strategic move to strengthen the company's "technology-driven" strategy, enhancing the synergy between R&D and business decision-making [1][3][4] - The company has established a three-tier R&D system to connect technological innovation with market demand, focusing on future material technology trends and fostering new growth curves [4][6] - The company reported a revenue of 3.021 billion yuan in the first half of 2025, a year-on-year increase of 10.63%, and a net profit attributable to shareholders of 105 million yuan, reflecting sustained growth driven by R&D [6][7] Management Changes - Qin Huaili, with nearly 20 years of experience in polymer materials R&D and management, has been promoted from a core technical position to the core management team [2][3] - The management change signals the company's commitment to enhancing R&D management and boosting investor confidence in its long-term technological competitiveness [3][4] R&D Investment and Achievements - The company increased its R&D investment to 137 million yuan in the first half of 2025, a year-on-year growth of 15.94%, with R&D expenses accounting for 4.53% of total revenue [4][6] - The company holds 288 patents, including 229 invention patents, and has a growing number of R&D personnel, which now stands at 532, representing 25.33% of the total workforce [4][6] Market Position and International Expansion - The company has established a leading position in the domestic polymer modified materials sector, serving various industries including automotive, home appliances, and renewable energy [3][4] - The company's overseas revenue grew by 39.03% in the first half of 2025, supported by a "multi-base, small scale, Local For Local" international development strategy [6][7] Future Development Focus - The company aims to enhance R&D efficiency through digital transformation, focusing on project management and core needs [7] - The integration of marketing and product development is part of the company's strategy to improve overall digital capabilities and strengthen core technological competitiveness [7]

Core Viewpoint - The company reported strong revenue and profit growth in 2024, but its low dividend payout ratio has raised concerns about its capital efficiency [1][4]. Financial Performance - The company achieved total revenue of 6.088 billion yuan, a year-on-year increase of 13.81% [1][4]. - The net profit attributable to shareholders was 194 million yuan, up 32.04% year-on-year [1][4]. - The net profit after deducting non-recurring gains and losses was 170 million yuan, reflecting a growth of 45.99% [1][4]. - The proposed cash dividend is 1.5 yuan per 10 shares, totaling approximately 70.9 million yuan, which represents only 36.54% of the net profit attributable to shareholders [4]. Innovation and Market Expansion - The company has driven comprehensive business growth through technological innovation and market expansion [5]. - Significant investments in R&D in the field of polymer modified materials have led to three global innovations and eight domestic innovations [5]. - The company has successfully established a factory in Thailand, serving over 30 overseas clients and achieving overseas sales of over 17,000 tons, a year-on-year increase of 178.39% [6]. Efficiency and Cost Control - The introduction of a lean management system has significantly improved overall efficiency and cost control [7]. - The company's gross profit margin is 13.45%, which, while improved from the previous year, remains at a mid-level compared to industry peers [7]. - There is still room for improvement in raw material procurement and production process optimization to further enhance profitability [7].