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世华科技股价涨5.06%,易方达基金旗下1只基金位居十大流通股东,持有100万股浮盈赚取208万元
Xin Lang Cai Jing· 2025-09-18 02:21
9月18日,世华科技涨5.06%,截至发稿,报43.15元/股,成交1.36亿元,换手率1.23%,总市值113.33亿 元。 易方达价值成长混合(110010)成立日期2007年4月2日,最新规模26.28亿。今年以来收益29.58%,同 类排名3047/8172;近一年收益60.51%,同类排名2397/7980;成立以来收益147.84%。 易方达价值成长混合(110010)基金经理为林海。 资料显示,苏州世华新材料科技股份有限公司位于江苏省苏州市吴江经济技术开发区大光路168号,成 立日期2010年4月14日,上市日期2020年9月30日,公司主营业务涉及功能性材料的研发、生产及销售。 主营业务收入构成为:功能性电子材料62.90%,高性能光学材料36.81%,其他0.22%,其他业务 0.07%。 从世华科技十大流通股东角度 数据显示,易方达基金旗下1只基金位居世华科技十大流通股东。易方达价值成长混合(110010)二季 度新进十大流通股东,持有股数100万股,占流通股的比例为0.38%。根据测算,今日浮盈赚取约208万 元。 责任编辑:小浪快报 截至发稿,林海累计任职时间20年234天,现任基金资 ...
世华科技股价跌5.03%,摩根士丹利基金旗下1只基金位居十大流通股东,持有284.01万股浮亏损失556.67万元
Xin Lang Cai Jing· 2025-09-04 07:37
Company Overview - Suzhou Shihua New Materials Technology Co., Ltd. is located in Wujiang Economic and Technological Development Zone, Suzhou, Jiangsu Province, and was established on April 14, 2010. The company was listed on September 30, 2020. Its main business involves the research, production, and sales of functional materials [1]. Business Composition - The revenue composition of the company is as follows: functional electronic materials account for 62.90%, high-performance optical materials for 36.81%, other materials for 0.22%, and other businesses for 0.07% [1]. Stock Performance - On September 4, the stock price of Shihua Technology fell by 5.03%, closing at 37.01 CNY per share, with a trading volume of 231 million CNY and a turnover rate of 2.26%. The total market capitalization is 9.72 billion CNY [1]. Shareholder Activity - Morgan Stanley's fund, specifically the Morgan Stanley Digital Economy Mixed A (017102), is among the top ten circulating shareholders of Shihua Technology. In the second quarter, it reduced its holdings by 675,900 shares, now holding 2.8401 million shares, which represents 1.08% of the circulating shares. The estimated floating loss today is approximately 5.5667 million CNY [2]. Fund Performance - The Morgan Stanley Digital Economy Mixed A fund was established on March 2, 2023, with a latest scale of 2.386 billion CNY. Year-to-date, it has achieved a return of 58.04%, ranking 427 out of 8,180 in its category. Over the past year, it has returned 122.01%, ranking 166 out of 7,978. Since its inception, it has returned 117.3% [2]. Fund Management - The fund manager of Morgan Stanley Digital Economy Mixed A is Lei Zhiyong, who has been in the position for 6 years and 140 days. The total asset scale of the fund is 4.547 billion CNY, with the best return during his tenure being 122.21% and the worst being -6.73% [3].
每周股票复盘:世华科技(688093)上半年营收增73.79%
Sou Hu Cai Jing· 2025-08-30 23:21
Core Viewpoint - Shihua Technology (688093) has shown significant growth in revenue and profit for the first half of 2025, indicating strong performance in the functional electronic materials and high-performance optical materials sectors [1][3]. Group 1: Financial Performance - In the first half of 2025, the company achieved revenue of 537 million yuan, representing a year-on-year increase of 73.79% [1][3]. - The net profit attributable to shareholders reached 193 million yuan, up 86.38% year-on-year, while the net profit after deducting non-recurring items was 186 million yuan, reflecting a growth of 101.03% [1][3]. - The gross margin for the company was 55.62%, with the gross margin for high-performance optical materials increasing to 27.36%, showing improvement compared to the same period last year and the previous year [1][3]. Group 2: Investment and Projects - The company plans to invest 2.05 billion yuan in a new high-performance optical adhesive film project, which has already commenced construction in the first half of this year [1][3]. - The IPO fundraising project for "Functional Materials Expansion and Upgrade Project" has been completed, and the previous fundraising for the "New High-Efficiency Sealing Glue Project" has been fully utilized [2]. - The new fundraising for the optical display film materials expansion project is set at 740 million yuan, with a maximum fundraising target of 600 million yuan, expected to generate annual revenue of 1.392 billion yuan upon reaching full production [2]. Group 3: Market Position and Future Outlook - The market for optical materials is projected to be in the hundreds of billions of yuan, with the polarizer protective film market expected to exceed 5 billion yuan, indicating significant domestic substitution potential [1][2]. - The company aims to establish a product structure centered around high-performance optical materials, functional electronic materials, and functional adhesives, with functional electronic materials being the current main business and high-performance optical materials serving as the second growth curve [2].
【私募调研记录】复胜资产调研世华科技、巨人网络
Zheng Quan Zhi Xing· 2025-08-29 00:08
Group 1: Shihua Technology - Shihua Technology achieved operating revenue of 537 million yuan in the first half of 2025, representing a year-on-year growth of 73.79% [1] - The net profit attributable to the parent company was 193 million yuan, up 86.38% year-on-year [1] - The company's gross margin was 55.62%, with high-performance optical materials gross margin at 27.36%, both showing improvement compared to the same period last year and the previous year [1] - Shihua Technology plans to invest 2.05 billion yuan in a new high-performance optical adhesive film project, indicating a significant market potential for high-end optical materials and domestic substitution opportunities [1] - The company has completed its IPO fundraising projects and the "New High-Efficiency Sealing Adhesive Project" has been fully utilized and completed [1] - The "Innovation Center Project" is expected to be completed by May 2026, with a total investment of 740 million yuan and a fundraising target of no more than 600 million yuan, projected to generate operating revenue of 1.392 billion yuan upon reaching production [1] - The future product structure will focus on high-performance optical materials, functional electronic materials, and functional adhesives, promoting healthy and sustainable growth for the company [1] Group 2: Giant Network - Giant Network reported operating revenue of 1.662 billion yuan for the first half of 2025, reflecting a year-on-year increase of 16.47% [2] - The net profit was 777 million yuan, up 8.27% year-on-year [2] - The self-developed new product "Supernatural Action Group" has shown outstanding performance, with rapid growth in user base and revenue, although the main contribution will be released in the future due to revenue deferral factors [2] - The company plans to extend the game lifecycle through enhanced content supply, optimized game performance, and collaboration with well-known IPs [2] - "Supernatural Action Group" stands out in competition due to its differentiated gameplay and strong social virality, with plans for continuous content updates and exploration of UGC directions to maintain user activity [2] - Customer acquisition mainly relies on user word-of-mouth and content dissemination, with expected stable sales expense ratio [2] - The company is optimistic about overseas markets and is exploring international expansion for "Supernatural Action Group" [2] - The increase in contract liabilities in Q1 and Q2 is attributed to revenue growth from "Original Journey" and deferred income [2] - R&D expenses in Q2 increased mainly due to rising labor costs and technical service fees [2]
世华科技2025年中报简析:营收净利润同比双双增长,公司应收账款体量较大
Zheng Quan Zhi Xing· 2025-08-23 23:29
Financial Performance - Company reported total revenue of 537 million yuan for the first half of 2025, an increase of 73.79% year-on-year [1] - Net profit attributable to shareholders reached 193 million yuan, up 86.38% year-on-year [1] - In Q2 2025, total revenue was 281 million yuan, a year-on-year increase of 59.95%, with net profit of 106 million yuan, up 69.93% [1] - Gross margin stood at 55.62%, a decrease of 0.61% year-on-year, while net margin increased by 7.25% to 35.98% [1] - Total operating expenses were 44.23 million yuan, accounting for 8.24% of revenue, down 37.61% year-on-year [1] - Earnings per share increased by 85.0% to 0.74 yuan, and operating cash flow per share rose by 88.31% to 0.77 yuan [1] Accounts Receivable - Company has a significant accounts receivable balance, with accounts receivable amounting to 99.05% of net profit [1][3] Business Model and Capital Efficiency - Company’s return on invested capital (ROIC) was 14.33% last year, indicating strong capital returns [2] - Historical median ROIC since listing is 16.87%, with the lowest ROIC recorded in 2023 at 11.52% [2] - Business performance is heavily reliant on capital expenditures, necessitating careful evaluation of capital projects [2] Fund Holdings - Major funds holding the company’s shares include Southern Economic Outlook Mixed A and Southern Potential New Blue Chip Mixed A, both newly entering the top ten holdings [4] - The largest fund, Southern Economic Outlook Mixed A, has a scale of 731 million yuan and has seen a 55.9% increase in the past year [4] Product Overview - Company specializes in functional electronic materials and high-performance optical materials, used in consumer electronics, automotive electronics, and medical electronics [5] - Upcoming product line includes functional adhesives with properties such as high adhesion, sealing, and optical characteristics [5]
世华科技: 2025年半年度报告
Zheng Quan Zhi Xing· 2025-08-22 16:29
Core Viewpoint - Suzhou Shihua New Material Technology Co., Ltd. reported significant growth in revenue and profit for the first half of 2025, driven by increased sales and the introduction of new projects, indicating a strong market position in the functional materials industry [2][3]. Company Overview and Financial Indicators - The company achieved operating revenue of approximately 536.51 million RMB, a year-on-year increase of 73.79% [3]. - Total profit reached approximately 221.77 million RMB, up 83.64% compared to the previous year [3]. - Net profit attributable to shareholders was approximately 193.06 million RMB, reflecting an increase of 86.38% [3]. - The net cash flow from operating activities increased by 88.31%, amounting to approximately 202.35 million RMB [3]. - The company's net assets at the end of the reporting period were approximately 2.11 billion RMB, a 7.80% increase from the previous year [3]. Business and Product Overview - The company focuses on the research, development, production, and sales of functional materials, particularly in electronic and optical materials [4][6]. - Key products include functional electronic materials used in consumer electronics, AI smart hardware, and high-performance optical materials for OLED/LCD displays [4][6]. - The company employs a direct sales model and a production strategy based on customer demand, ensuring efficient operations and quality control throughout the production process [5][6]. Industry Context - The functional materials industry is experiencing rapid growth, driven by advancements in technology and increasing demand from sectors such as AI, consumer electronics, and integrated circuits [6][10]. - The industry is characterized by high research and development requirements, with a focus on polymer synthesis and functional coating technologies [6][10]. - Domestic companies are gaining competitive advantages through technological breakthroughs and improved service offerings, positioning themselves well in the high-end functional materials market [7][10]. Competitive Advantages - The company has established a robust research and development platform, accumulating significant expertise in key technologies such as resin synthesis and precision coating [8][12]. - It has a strong commitment to innovation, with a focus on customer-centric solutions and rapid response to market needs [12][13]. - The company has received multiple recognitions, including being designated as a national-level "specialized and innovative" small giant enterprise, highlighting its competitive position in the industry [13].
世华科技拟定增募资不超6亿扩产 积极布局折叠屏领域负债率仅6.3%
Chang Jiang Shang Bao· 2025-07-06 22:27
Core Viewpoint - Shihua Technology (688093.SH) is accelerating its expansion in the functional materials sector, particularly in optical display film materials, with plans to raise up to 600 million yuan through a private placement to fund this expansion [1][2][4]. Group 1: Company Overview - Shihua Technology was established in 2010 and went public on the Shanghai Stock Exchange's Sci-Tech Innovation Board in September 2020, focusing on the research, production, and sales of functional materials [1][4]. - The company is recognized as a national-level "little giant" enterprise and a national high-tech enterprise, with products widely used in consumer electronics, wearable devices, new energy, and automotive sectors [4][5]. Group 2: Financial Performance - In 2024, Shihua Technology achieved a revenue of 795 million yuan, a year-on-year increase of 55.36%, and a net profit of 280 million yuan, up 44.56%, both reaching historical highs [5][6]. - As of the first quarter of 2025, the company reported cash holdings of 209 million yuan and total assets of 2.183 billion yuan, marking a historical peak, with a total liability of 138 million yuan and a debt-to-asset ratio of only 6.3% [1][6]. Group 3: Expansion Plans - The company plans to invest approximately 740 million yuan in the optical display film materials expansion project, which will focus on producing key optical films such as polarizer protective films, OLED process protective films, and OCA optical adhesive films [2][3]. - The project aims to add 21 million square meters of polarizer protective film capacity, 2 million square meters of OLED process protective film capacity, and 4 million square meters of OCA optical adhesive film capacity, with an expected annual revenue of 1.392 billion yuan once fully operational [3]. Group 4: Market Position and Strategy - Shihua Technology aims to reduce reliance on international suppliers, as the optical film materials market is currently dominated by companies like 3M, LG Chem, and others [2][3]. - The company has made significant technological breakthroughs in the optical film materials sector and is focusing on expanding its production capacity to seize market opportunities [3][6].
【私募调研记录】敦和资管调研瑞迈特、世华科技
Zheng Quan Zhi Xing· 2025-06-30 00:04
Group 1: 瑞迈特 (Raimate) - Raimate, established in 2001, focuses on comprehensive treatment solutions for OSA and COPD patients, and is a leading domestic manufacturer of non-invasive ventilators and masks [1] - The company has achieved significant localization of core components, ensuring supply chain security and control [1] - With two production facilities in Dongguan and Tianjin Wuqing, the company can dynamically adjust production capacity based on market demand [1] - The rebranding to "Raimate" has enhanced brand strength and capital momentum [1] - The domestic business performed well in Q1, attributed to the recruitment of experienced consumer marketing experts and adjustments in channel and sales policies [1] - As an export-oriented enterprise, Raimate has entered multiple international healthcare markets, including the US, Germany, and the UK [1] Group 2: 世华科技 (Shihua Technology) - Shihua Technology specializes in functional electronic materials and high-performance optical materials, covering a variety of functional characteristics [2] - The company is progressing well in multiple projects aimed at increasing capacity and technological advancement, including expansion and upgrade of functional materials and innovation center projects [2] - The gross margin may fluctuate due to business structure adjustments, but the optical materials market has significant potential for growth, especially in domestic substitution [2] - The company is actively developing materials related to foldable screens and AI technology [2] - The refinancing project is progressing smoothly, with some products already in mass production or small-scale sales [2] - Shihua Technology is confident in its future development, aiming to establish a product structure centered around high-performance optical materials, functional electronic materials, and functional adhesives [2] Group 3: 敦和资产管理有限公司 (Dunhe Asset Management) - Dunhe Asset Management, established on March 2, 2011, is a domestic macro private equity fund company focused on investments in domestic and international capital markets [3] - The company has developed a multi-asset allocation strategy driven by fundamentals, utilizing various tools such as stocks, bonds, commodities, and derivatives [3] - Dunhe Asset Management has established a comprehensive operational support system, including research, system construction, market sales, compliance, risk control, human resources, and financial support [3] - The company's asset management scale exceeds 40 billion RMB, ranking among the top in the private equity securities investment fund industry [3]
世华科技:6月16日接受机构调研,华泰联合证券、东方投资等多家机构参与
Zheng Quan Zhi Xing· 2025-06-19 09:42
Core Viewpoint - The company, Shihua Technology (688093), has shown strong growth in revenue and net profit for 2024 and Q1 2025, driven by its functional electronic materials and high-performance optical materials [2][12]. Financial Performance - In 2024, the company achieved revenue of 795 million yuan and a net profit of 280 million yuan, representing year-on-year growth of 55.36% and 44.56% respectively [2]. - For Q1 2025, the company reported revenue of 256 million yuan and a net profit of 87 million yuan, with year-on-year growth of 92.04% and 111.23% respectively [2][12]. - The gross profit margin for Q1 2025 was 52.6% [12]. Product Overview - The main products include functional electronic materials and high-performance optical materials, which are used in consumer electronics, automotive electronics, and medical electronics [3]. - The functional electronic materials generated revenue of 575 million yuan in 2024, growing by 22.24%, while high-performance optical materials saw revenue of 218 million yuan, a significant increase of 442.13% [2]. Market Potential - The market for optical materials is substantial, with estimates suggesting it could reach several hundred billion yuan globally, and there is significant room for domestic alternatives to replace foreign materials [6]. - The company has already achieved large-scale production and sales in the polarizer protective film sector, which is expected to grow further [6]. Customer Base - The company has established partnerships with various brands in the consumer electronics and automotive sectors, indicating a strong demand for functional materials [4]. - The estimated demand for functional materials from customers is at least 10 billion yuan, highlighting a significant market opportunity [4]. Future Outlook - The company is optimistic about its future, focusing on expanding its product structure to include high-performance optical materials, functional electronic materials, and functional adhesives [12]. - The functional adhesives segment is seen as a new growth point, with production trials already underway [12]. Shareholder Activity - The controlling shareholder has been actively increasing their stake in the company, with plans to invest between 60 million to 100 million yuan, having already acquired approximately 1.49 million shares [11]. Financing Plans - The company has proposed a refinancing plan to raise up to 600 million yuan for expanding production capacity in optical display films, with the project currently under review by the Shanghai Stock Exchange [10].
【私募调研记录】丹羿投资调研世华科技、益方生物
Zheng Quan Zhi Xing· 2025-06-02 00:09
Group 1: Shihua Technology - Shihua Technology is projected to achieve revenue of 795 million yuan and net profit of 280 million yuan in 2024, representing year-on-year growth of 55.36% and 44.56% respectively [1] - In Q1 2025, the company expects revenue of 256 million yuan and net profit of 87 million yuan, with year-on-year growth of 92.04% and 111.23% respectively [1] - The company is deepening its industrial chain layout with multiple projects progressing smoothly, including functional materials expansion and upgrade projects, innovation center projects, and new high-efficiency sealing adhesive projects [1] - A refinancing plan has been disclosed to invest 740 million yuan in optical display film material expansion, with a fundraising target of no more than 600 million yuan, and has received acceptance notification from the Shanghai Stock Exchange [1] - The company has two optical-grade production lines for high-performance optical materials R&D, sampling, and mass production, and is advancing expansion projects due to limited capacity [1] - The market for optical materials is large, with high-end optical materials still dominated by foreign companies, indicating significant domestic substitution potential [1] - Functional materials are applied across multiple product lines for Client A, with varying project sizes and substantial total demand space [1] - The Zhangjiagang factory is producing adhesive products, with ongoing production line debugging and trial production for various fields [1] - The company is closely monitoring the development of foldable screen technology and actively investing in related material R&D [1] - The business primarily focuses on domestic sales, with low export revenue proportion, making it less susceptible to short-term tariff policy changes [1] - The future product structure will consist of high-performance optical materials, functional electronic materials, and functional adhesives, with the fastest growth expected in high-performance optical materials [1] Group 2: Yifang Bio - Yifang Bio has introduced the latest R&D progress of its main products, including D-2570, which plans to conduct clinical exploration in multiple autoimmune disease areas, with the II phase clinical trial for ulcerative colitis approved by CDE and expected to complete the first patient dosing by May 2025 [2] - The drug Gesorex (D-1553) is expected to be approved for market launch in November 2024 for treating adult patients with KRS G12C mutation advanced non-small cell lung cancer, with ongoing phase III clinical research [2] - D-0502 is currently undergoing phase III clinical trials for second-line treatment in China, while also conducting international multi-center clinical trials in both China and the United States [2] - D-0120 has completed phase IIb clinical trials for hyperuricemia and gout, while YF087 and YF550 have made breakthrough progress in preclinical research [2]