Core Viewpoint - The company, Hubei Huitian New Materials Co., Ltd., is a leading player in the domestic engineering adhesive industry, with strong R&D capabilities and a promising outlook for downstream industries, which supports future business growth [2][5]. Financial Performance - The company's total assets as of March 2025 are 65.86 billion, with equity attributable to shareholders at 28.94 billion [2]. - The company's total debt has increased, leading to weaker debt repayment indicators, indicating rising repayment pressure [6]. - Revenue for 2024 is reported at 39.89 billion, a slight increase from 39.02 billion in 2023, while net profit decreased from 2.98 billion in 2023 to 1.04 billion in 2024 [4][16]. Market Position and Growth - The company has maintained a high production and sales rate, with significant growth in the sales volume of its main products, particularly in the electronic and automotive sectors, which saw increases of 45.56% and 41.23% respectively [2][5]. - The company is focusing on expanding its market share in the renewable energy sector, particularly in photovoltaic silicone and solar cell back membranes, despite facing a 58.34% decline in sales in this segment due to increased competition and market saturation [18][19]. Risks and Challenges - The company faces risks related to changes in control, as the actual controller's shareholding is relatively low, which could impact governance [5][6]. - The profitability is sensitive to fluctuations in the downstream industry, with pressures from declining raw material prices and increased competition affecting profit margins [5][11]. - The company has a high proportion of receivables, which could strain working capital and increase the risk of bad debts, particularly in the photovoltaic sector where payment cycles are longer [6][18]. Industry Outlook - The adhesive industry in China is expected to grow, driven by demand from emerging sectors such as new energy vehicles and lithium batteries, although sales growth has not met expectations due to various challenges [11][12]. - The industry is projected to have an average annual growth rate of 4.2% in production and 4.3% in sales during the 14th Five-Year Plan period [12]. - The company is well-positioned to benefit from the ongoing transition to clean energy and the increasing demand for high-performance adhesives in various applications [14][15].

撰文丨王聪 编辑丨王多鱼 排版丨水成文 想象一下，给胚胎中的大脑植入电子设备，让它随着大脑一起生长、折叠，全程无干扰地监测脑细胞的"一举一 动"……这听起来像科幻小说？哈佛大学的科学家做到了，他们创造出了神奇的"半机械蝌蚪"。 人类的大脑，是整个宇宙中最复杂的结构 （之一） ，它是如何从一个简单的胚胎细胞层一步步发育而来 的？尤其是早期胚胎阶段，大脑形态发生剧烈变化，就像一张平整的纸被精巧地折叠、塑造成一个三维立 体器官。这个过程中神经活动如何萌芽、同步、演化？一直是科学界的巨大谜团。 2025 年 6 月 11 日，哈佛大学 刘嘉 团队在国际顶尖学术期刊 Nature 上发表了题为： Brain implantation of soft bioelectronics via embryonic development 的研究论文。 该研究开发了一种超柔性、超薄、可拉伸的 脑机接口 设备，可利用 胚胎自然发育过程将该设备植入大 脑，能够无缝融合到 大脑发育过程中，对整个大脑的发育过程进行 无创、稳定、持续、高时空分辨率 （毫秒级精度、精确到单个神经元） 的神经电活动记录，而且不会对大脑发育和行为产生影响。 为 ...

Core Viewpoint - A new acrylic-based composite material, referred to as "smart sponge," has been developed by an international research team led by King Abdullah University of Science and Technology (KAUST), which can automatically cool solar panels in desert environments, potentially doubling their lifespan [1]. Group 1 - The research indicates that the smart sponge material can significantly enhance the durability of solar panels, extending their operational life by over two times [1]. - This innovation is particularly relevant for solar energy applications in harsh environments, such as deserts, where overheating can severely impact performance [1]. - The findings were published in the latest issue of the journal "Materials Science and Engineering Reports," highlighting the scientific community's interest in improving renewable energy technologies [1].

版权声明：日本经济新闻社版权所有，未经授权不得转载或部分复制，违者必究。 旭化成5月27日宣布，将退出包括丙烯酸树脂及其原料"MMA"等在内的4项业务。上述产品在位于 川崎市的川崎制造所制造。由于中国企业的增产等因素，市场行情恶化。旭化成将缩小石化业务 规模，并计划将该制造所转型为氢能源材料等的生产基地。 这4个计划停止生产的产品为：日本国内产能排名第二的MMA（甲基丙烯酸甲酯）、丙烯酸树 脂、SB乳胶、以及环己基甲基丙烯酸酯（CHMA）。旭化成计划在2026年3月至2027年9月之间 逐步结束这些产品的生产，并于同年年底前停止销售。旭化成将在2026年3月的财报中计入约 250亿日元的结构改革费用作为特别损失，此项支出已计入业绩预期。川崎制造所的190名员工将 被重新分配至该制造所内的其他岗位等。 旭化成的川崎制作所（川崎市） 由于中国企业的增产等因素，市场行情恶化…… 日经中文网 https://cn.nikkei.com ...

点击 最 下方 " 推荐"、"赞 "及" 分享 "，"关注"材料汇 添加 小编微信 ，遇见 志同道合 的你 正文 曝光时切断树脂聚合体主链和从链之间的联 系，达到削弱聚合体的目的,所以曝光后光 刻胶在随后的显影处理中溶解度升高，曝光 后溶解度几乎是未曝光时的10倍;更高分辨 率(无膨胀现象)在IC制造应用更为普遍。 | | | 光刻胶按化学反应原理分类 | | | | --- | --- | --- | --- | --- | | 主要类型 | 定义 | 优点 | 缺点 | 灵敏度 | | 正性光刻胶 | 受光昭射后感光部 分发生分解反应, | 分辨率高、对比度 好 | 能力差、高成本 | 保留曝光区域光刻 | | | 可溶于显影液,未 | | 粘附性差、抗刻蚀 | 胶完全溶解时所需 | | | 感光部分显影后仍 | | 的能量 | | | | 然留在基底表面。 | | | | | 负性光刻胶 | 曝光后形成交联网 格结构,在显影液 中不可溶,未感光 | 良好的粘附能力和 抗刻蚀能力、感光 速度快 | 显影时发生变形和一体原始开户 能胀，影响分辨率 胶原始厚度的 50% 並將可及上交兼國 | | | | 部分 ...

天眼查资料显示，中国石油化工股份有限公司，成立于2000年，位于北京市，是一家以从事石油、煤炭 及其他燃料加工业为主的企业。企业注册资本12173968.9893万人民币。通过天眼查大数据分析，中国 石油化工股份有限公司共对外投资了257家企业，参与招投标项目5000次，财产线索方面有商标信息45 条，专利信息5000条，此外企业还拥有行政许可39个。 中石化石油化工科学研究院有限公司，成立于2022年，位于北京市，是一家以从事研究和试验发展为主 的企业。企业注册资本30000万人民币。通过天眼查大数据分析，中石化石油化工科学研究院有限公司 共对外投资了2家企业，参与招投标项目994次，专利信息1194条，此外企业还拥有行政许可291个。 来源：金融界 金融界2025年5月5日消息，国家知识产权局信息显示，中国石油化工股份有限公司、中石化石油化工科 学研究院有限公司申请一项名为"连续制备（烷基）丙烯酸酯的方法"的专利，公开号CN119912330A， 申请日期为2023年10月。 专利摘要显示，本发明涉及有机合成领域，公开了一种连续制备(烷基)丙烯酸酯的方法，该方法包括： (1)将(烷基)丙烯酸、醇和任选的阻 ...

Core Viewpoint - The company, Hubei Huitian New Materials Co., Ltd., is engaged in the research, production, and sales of adhesive materials and has a diverse product range that serves various industries including photovoltaic new energy, consumer electronics, and automotive manufacturing [5][10]. Company Overview - Hubei Huitian New Materials Co., Ltd. is a high-tech enterprise specializing in the development and production of adhesives and other new materials, with main products including high-performance silicone adhesives, polyurethane adhesives, lithium battery negative electrode adhesives, epoxy adhesives, and acrylic adhesives [5]. - The company also produces solar cell back sheets and has expanded its product offerings to include automotive maintenance chemicals such as brake fluids [5]. Business Model - The company employs a centralized procurement strategy for key raw materials while also utilizing local procurement for specialized materials, which helps in controlling costs and ensuring stable supply [7]. - The production cycle for adhesive products typically ranges from 3 to 7 days, with a structured sales planning process based on market demand and inventory levels [8]. Sales Strategy - Domestically, the company has established sales divisions based on application fields such as photovoltaic, electronics, and automotive, utilizing a combination of direct sales to large clients and sales through first-level distributors [9]. - Internationally, the company exports products to regions including Southeast Asia, South Asia, the Middle East, and Europe, employing a similar sales model of direct supply to major clients and through distributors [10]. Financial Information - The company has received a standard unqualified audit opinion from its accounting firm, indicating sound financial practices [3]. - The company plans to distribute cash dividends of 1.5 yuan per 10 shares to shareholders, with no stock dividends planned [4].

Group 1 - The company expects to achieve a net profit attributable to shareholders of 1.45 billion to 1.65 billion yuan in Q1 2025, representing a year-on-year increase of 41.79% to 61.35%, but a quarter-on-quarter decrease of 30.51% to 38.93% [1] - The average price of ethane in Q1 2025 is projected to be 27.17 cents per gallon, with a year-on-year increase of 39.30% and a quarter-on-quarter increase of 25.64%, indicating strong profitability despite rising costs [2] - The company is advancing its high-end new materials industrial park project, which is expected to enhance product structure and profitability, providing strong momentum for long-term development [2] Group 2 - The company is optimistic about the cost advantages in the C2 industry chain leading to substantial profits and high growth potential from new project launches, with projected net profits of 7.1 billion yuan, 9.2 billion yuan, and 11.1 billion yuan for 2025-2027 [3] - Corresponding EPS for 2025-2027 is expected to be 2.12 yuan, 2.72 yuan, and 3.30 yuan per share, with PE ratios of 10.8X, 8.4X, and 7.0X respectively, leading to a "buy" rating for the company [3]