Group 1: Research Basic Information - The research object is Kangda New Materials, belonging to the chemical products industry, and the reception time was on July 30, 2025. The company's reception staff was Shen Yitao, the deputy general manager and board secretary [17] Group 2: Detailed Research Institutions - The research institution is Huafu Securities, a securities company, and the relevant personnel are Zhou Danlu and Shen Yingjie [20] Group 3: Main Content Company's Business Introduction - The board secretary Shen Yitao introduced the company's business and briefly described the strategic development directions of the three business segments: adhesives and special resin new materials, electronic information materials, and electronic technology [24] 2025 H1 Performance Explanation - In H1 2025, the sales volume of products in the adhesives and special resin new materials segment increased steadily, driving a synchronous increase in net profit. The strong demand for wind turbine blade products, benefiting from the boom in the wind power industry, was the main driving force for the segment's growth. The company also enhanced its profitability through measures such as optimizing resource allocation, improving asset operation efficiency, and reducing management costs [24] Subsidiary Saiying Technology - Saiying Technology specializes in the R & D, production, sales, and service of embedded software microwave hybrid integrated circuits, microwave hybrid integrated circuits, and radar - related complete machines and systems. It combines microwave and digital technologies, with main businesses including scientific research and production of complete - machine radars, microwave components, special instruments, and marine communication products. Its main customers are domestic supporting enterprises and research institutions, and its products are mainly used in special equipment fields, with partial transformation to the civilian field [25] Subsidiary Dalian Qihua - Dalian Qihua is a high - tech enterprise producing high - quality epoxy resins. Its products are divided into three series: bisphenol A epoxy resin, heat - resistant epoxy resin, and special epoxy resin, with multiple varieties. Its products can be applied in fields such as composites, coatings, adhesives, and electronics. The "Annual Production of 80,000 Tons of Electronic - Grade Epoxy Resin Expansion Project" obtained environmental assessment approval in 2024, and the company is promoting the project as planned [26] Electronic Information Materials and Semiconductor Strategy - The electronic information materials segment covers display materials and low - temperature co - fired ceramic (LTCC) materials, with two holding subsidiaries, Jingcai Technology and Weixin Technology, carrying out relevant business. The company focuses on inorganic semiconductor materials such as ITO targets, alumina targets, CMP (cerium oxide) polishing fluids, and LTCC in its second growth curve. It plans to expand in the semiconductor integrated circuit field by acquiring Zhongke Huawi, and will transform and upgrade to the semiconductor integrated circuit industry through diversified investment models [26][27] Electronic - Grade Special Resin - The newly established holding subsidiary Kangchengda Chuang (Shanghai) New Materials Co., Ltd. plans to produce electronic - grade bis(multi)maleimide resins for high - speed copper - clad laminates and BT carriers. Currently, it is conducting preliminary work such as technical testing and pilot production [27]

Group 1: Business Overview - The company operates in three main business segments: adhesives and specialty resin materials, electronic information materials, and electronic technology [2] - The adhesive and specialty resin materials segment has seen steady growth in product sales, driven by strong demand in the wind power industry [2][4] Group 2: Financial Performance - In the first half of 2025, the net profit increased due to the growth in the adhesive and specialty resin materials segment [2] - The company has enhanced its profitability through resource optimization, improved asset operation efficiency, and reduced management costs [2] Group 3: Subsidiary Developments - The subsidiary Saiying Technology focuses on microwave integrated circuits and radar systems, expanding its business from special equipment to civilian applications [3] - Dalian Qihua, another subsidiary, is progressing on an expansion project for producing 80,000 tons of electronic-grade epoxy resin, which received environmental approval in 2024 [4] Group 4: Strategic Planning - The electronic information materials segment includes display materials and low-temperature co-fired ceramics (LTCC), with a focus on inorganic semiconductor materials [5] - The company plans to acquire Zhongke Huamei to expand into the semiconductor integrated circuit field, enhancing its profitability and operational sustainability [5] Group 5: Technological Advancements - The newly established subsidiary Kang Cheng Da (Shanghai) New Materials Co., Ltd. is developing electronic-grade poly(maleic anhydride) resins for applications in high-speed copper-clad laminates and BT substrates [6]