Core Viewpoint - The article discusses the recent A-round financing of Zhongxin New Carbon (Xiamen) Material Technology Co., Ltd., which aims to enhance production capacity, technology research and development, and market promotion for high-performance carbon materials, particularly focusing on pitch-based carbon fibers and their applications in both military and civilian sectors [3]. Group 1: Company Overview - Zhongxin New Carbon was established in 2022 and specializes in the research and production of high-performance carbon materials, including intermediate pitch, pitch-based carbon fibers, and carbon-carbon composites [3]. - The company has achieved stable production of high-modulus, high-conductivity intermediate pitch at a scale of 50 tons per year and small-scale production of pitch-based carbon fibers and carbon-carbon composites [3][10]. Group 2: Market Context - The domestic carbon fiber market has seen significant growth, with production capacity increasing nearly fivefold from 2019 to 2023. However, the growth rate is expected to slow down in 2024 due to a decrease in demand for PAN-based carbon fibers [11]. - The main challenge for pitch-based carbon fibers is the stability of raw material supply, as many domestic companies have faced difficulties in achieving stable production despite having production lines [8][11]. Group 3: Technical Challenges - The key challenge in producing pitch-based carbon fibers lies in the preparation of high-spinnable intermediate pitch, which has complex requirements for raw material stability and synthesis processes [8]. - Zhongxin New Carbon has made breakthroughs in molecular design to address the challenges of synthesizing intermediate pitch, achieving a product that meets both spinning and foam carbon production needs [8][12]. Group 4: Strategic Focus - The company adopts a dual strategy targeting both civilian and military applications, with a focus on sectors such as 5G communications and aerospace, aiming for significant sales growth in the next three years [12]. - Zhongxin New Carbon is also working to enter national or provincial military-civilian integration projects to secure production orders in aerospace applications within a 2-3 year timeframe [12][13].