资料显示，绍兴兴欣新材料股份有限公司位于浙江省杭州湾上虞经济技术开发区拓展路2号，成立日期 2002年6月27日，上市日期2023年12月21日，公司主营业务涉及从事有机胺类精细化学品的研发、生产 和销售。主营业务收入构成为：哌嗪系列产品81.21%，酰胺系列产品11.42%，其他7.37%。 截至10月20日，兴欣新材股东户数7908.00，较上期减少6.11%；人均流通股6446股，较上期增加 6.51%。2025年1月-6月，兴欣新材实现营业收入2.18亿元，同比增长0.02%；归母净利润3364.40万元， 同比减少21.72%。 10月24日，兴欣新材涨0.34%，成交额3786.10万元。两融数据显示，当日兴欣新材获融资买入额459.45 万元，融资偿还618.65万元，融资净买入-159.20万元。截至10月24日，兴欣新材融资融券余额合计 9188.12万元。 融资方面，兴欣新材当日融资买入459.45万元。当前融资余额9188.12万元，占流通市值的4.54%，融资 余额超过近一年90%分位水平，处于高位。 融券方面，兴欣新材10月24日融券偿还0.00股，融券卖出0.00股，按当日收盘价计 ...

Group 1 - The core viewpoint of the news is that Xingxin New Materials experienced a slight decline in stock price and notable trading activity, indicating a high level of financing and margin trading activity [1] - On September 18, Xingxin New Materials' stock price fell by 0.93%, with a trading volume of 82.91 million yuan [1] - The financing buy-in amount for Xingxin New Materials on the same day was 15.06 million yuan, while the financing repayment was 11.07 million yuan, resulting in a net financing buy of 3.99 million yuan [1] Group 2 - As of September 18, the total balance of margin trading for Xingxin New Materials was 80.14 million yuan, accounting for 4.02% of its market capitalization [1] - The financing balance is above the 90th percentile level over the past year, indicating a high level of financing activity [1] - On the same day, there were no shares sold or repaid in the securities lending market, with a lending balance of 0.00 yuan, also indicating a high percentile level over the past year [1] Group 3 - As of September 10, the number of shareholders for Xingxin New Materials was 10,000, a decrease of 12.03% from the previous period [2] - The average number of circulating shares per person increased by 13.68% to 5,081 shares [2] - For the first half of 2025, Xingxin New Materials reported a revenue of 218 million yuan, a slight increase of 0.02% year-on-year, while the net profit attributable to shareholders decreased by 21.72% to 33.64 million yuan [2] Group 4 - Since its A-share listing, Xingxin New Materials has distributed a total of 166 million yuan in dividends [2]

Group 1 - On September 17, Xingxin New Materials experienced a decline of 2.49% with a trading volume of 74.68 million yuan [1] - The financing data on the same day showed a financing purchase amount of 11.56 million yuan and a net financing purchase of 2.77 million yuan, with a total financing and securities balance of 76.15 million yuan [1] - The current financing balance of Xingxin New Materials accounts for 3.79% of its circulating market value, indicating a high level compared to the 90th percentile over the past year [1] Group 2 - As of August 29, the number of shareholders for Xingxin New Materials increased by 22.23% to 11,400, while the average circulating shares per person decreased by 18.19% to 4,470 shares [2] - For the first half of 2025, Xingxin New Materials reported a revenue of 218 million yuan, reflecting a year-on-year growth of 0.02%, while the net profit attributable to the parent company was 33.64 million yuan, a decrease of 21.72% year-on-year [2] - Since its A-share listing, Xingxin New Materials has distributed a total of 166 million yuan in dividends [2]

Group 1 - The core viewpoint of the news is that Xingxin New Materials experienced a decline in stock price and trading volume, with significant changes in financing and shareholder structure [1][2] - On September 12, Xingxin New Materials' stock fell by 1.27%, with a trading volume of 109 million yuan, and a net financing outflow of 3.14 million yuan [1] - As of September 12, the total financing and securities lending balance for Xingxin New Materials was 84.89 million yuan, which is 4.14% of its circulating market value, indicating a high level of financing [1] Group 2 - As of August 29, the number of shareholders for Xingxin New Materials increased to 11,400, a rise of 22.23%, while the average circulating shares per person decreased by 18.19% to 4,470 shares [2] - For the first half of 2025, Xingxin New Materials reported a revenue of 218 million yuan, a slight increase of 0.02% year-on-year, but the net profit attributable to shareholders decreased by 21.72% to 33.64 million yuan [2] - Since its A-share listing, Xingxin New Materials has distributed a total of 166 million yuan in dividends [2]

Group 1: Company Performance - The company is experiencing a decline in operating performance and profits due to falling prices of key raw materials, specifically 68-piperazine and ethylenediamine, leading to a decrease in sales revenue and net profit [2][3] - Despite the decline in revenue, the sales volume of the company's products has remained stable, indicating a leading position in the industry [2] Group 2: Project Updates - The 8,800-ton piperazine series product project in Anhui has officially commenced production, aimed at ensuring stable raw material supply and maintaining competitive advantage [3] - The project for producing 14,000 tons of environmentally friendly solvent products and 5,250 tons of polyurethane foaming agents is progressing as planned, with the sub-project for 10,000 tons of 40% piperazine-1,4-dithiocarbamate potassium salt having completed trial production [3][4] Group 3: CCUS and Environmental Initiatives - The CCUS project focuses on capturing and utilizing carbon dioxide emissions to reduce greenhouse gas emissions and support carbon neutrality goals [4] - The company collaborates with Tsinghua University's Environmental College to develop piperazine-based absorbents for air pollutant and greenhouse gas control [5] Group 4: New Investments - An investment of 800 million yuan has been made to establish a subsidiary in Qinzhou, Guangxi, focusing on the ethylene amine project, which aims to produce high-value amine products using a more efficient production method [5] - The project benefits from proximity to major petrochemical enterprises, reducing raw material procurement costs and enhancing economic efficiency through the sale of by-products [5]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has established long-term stable partnerships with globally recognized suppliers and downstream customers, which is expected to further strengthen its competitive advantage [7][8] - The decline in the selling prices of the company's main products has led to a year-on-year decrease in profits [5] - The company has slightly revised down its profit forecast for 2025-2027, predicting net profits of 1.03 billion, 1.12 billion, and 1.26 billion respectively, with corresponding PE ratios of 31.0, 28.7, and 25.4 times [9] Financial Performance - In the first half of 2025, the company achieved operating revenue of 218 million, a year-on-year increase of 0.02%, and a net profit attributable to shareholders of 34 million, a year-on-year decrease of 21.72% [4] - The revenue from the piperazine series products in the first half of 2025 was 177 million, a year-on-year decrease of 7.56%, while the revenue from the amide series products increased by 82.73% to 25 million [5] - The financial expense ratio increased due to reduced interest income from structured deposits [6] Profit Forecast - The company forecasts operating revenues of 457 million, 502 million, and 579 million for 2025, 2026, and 2027 respectively, with growth rates of -2.4%, 9.7%, and 15.4% [11] - The net profit attributable to shareholders is expected to grow at rates of 27.4%, 8.1%, and 12.7% for the same years [11]

Group 1 - The stock price of Xingxin New Material (001358.SZ) decreased by 1.85%, closing at 23.39 yuan [1] - The company was listed on the Shenzhen Stock Exchange on December 21, 2023, with an initial public offering (IPO) of 22,000,000 shares, representing 25.00% of the total share capital post-IPO, at a price of 41.00 yuan per share [1] - On the first day of trading, the stock reached a peak price of 65.66 yuan, but is currently in a state of decline [1] Group 2 - The total amount raised from the IPO was 902 million yuan, with a net amount of 809.588 million yuan after deducting issuance costs, exceeding the original plan by 259.588 million yuan [1] - The funds are intended for various projects, including the production of 14,000 tons of environmentally friendly solvent products and 5,250 tons of polyurethane foaming agents, among others [1] - The underwriting institution for the issuance was Guosheng Securities, with total issuance costs amounting to 92.412 million yuan, including 63.14 million yuan for underwriting and sponsorship fees [2] Group 3 - On April 18, 2024, the company announced a dividend plan, proposing a stock bonus of 4 shares for every 10 shares held and a cash dividend of 12 yuan (pre-tax) [2] - The ex-dividend date is set for April 24, 2024, with the record date for shareholders on April 23, 2024 [2]

绍兴兴欣新材料股份有限公司 （住所：浙江省杭州湾上虞经济技术开发区拓展路 2 号） 首次公开发行股票并在主板上市 招股说明书 （注册稿） 声明：本公司的发行申请尚需经深圳证券交易所和中国证监会履行相应程序，本招股说 明书（注册稿）不具有据以发行股票的法律效力，仅供预先披露之用。投资者应当以正 式公告的招股说明书作为投资决定的依据。 保荐人（主承销商） （住所：江西省南昌市新建区子实路 1589 号） 绍兴兴欣新材料股份有限公司 招股说明书（注册稿） 重要声明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发行 人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其 对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任 何与之相反的声明均属虚假不实陈述。 根据《证券法》规定，股票依法发行后，发行人经营与收益的变化，由发行 人自行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承担 股票依法发行后因发行人经营与收益变化或者股票价格变动引致的投资风险。 1-1-1 绍兴兴欣新材料股份有限公司 招股说明书（注册稿） | 发行股票类型 | 人民币普通股（A ...