长江商报消息 ●长江商报记者 江楚雅 新莱福计划进一步扩大产能，助力产业升级。 并购整合资源拓展业务 2025年上半年，公司实现营业收入4.51亿元，同比增长8.27%，但归母净利润为6720.39万元，同比下降 8.94%。 投资扩产助力产业升级 根据新莱福发布的公告，公司与宁波市奉化区人民政府岳林街道办事处签订投资协议，计划投资建设年 产3万套医用射线无铅防护系列产品及新材料项目。 新莱福表示，该项目旨在扩大产能规模、优化产业结构布局，提升公司品牌影响力和综合竞争实力，增 强盈利能力，符合公司整体发展战略规划。建设内容包括医疗和核工业防辐射材料生产用房和办公楼 等，计划总投资1.5亿元，其中固定资产投资不低于1.05亿元。 作为国家级高新技术企业和专精特新"小巨人"企业，新莱福在无铅辐射防护材料、吸附功能材料等领域 形成了全球领先的技术壁垒。其锐保γ射线防护胶皮材料凭借轻质、环保特性，在核电、医疗等领域实 现了对传统铅基材料的替代。 凭借创新驱动发展战略，新莱福构筑了坚实的技术护城河，确立了行业领先优势。截至上半年末，公司 拥有有效专利109项，是全球领先的功能材料制造商之一，直接客户覆盖全球60余个国家 ...

Core Viewpoint - New Lai Fu (301323.SZ) has resumed trading and announced a major asset restructuring plan to acquire 100% equity of Guangzhou Jin Nan Magnetic Materials through a combination of share issuance and cash payment [1][2]. Company Overview - The acquisition is seen as a horizontal integration within the industry, with both companies focusing on magnetic materials but in different segments. Jin Nan Magnetic Materials specializes in rubber-plastic magnets for micro motors, holding a 60% global market share in motor magnetic strips, while New Lai Fu excels in adsorption functional materials and electronic ceramic components [4][5]. Financial Data - For 2024, Jin Nan Magnetic Materials is projected to have a revenue of 502 million yuan and a net profit of 83.41 million yuan, with a net profit margin of 16.63%. New Lai Fu's revenue is expected to be 886 million yuan with a net profit of 145 million yuan. If the merger is completed, New Lai Fu's revenue will increase to 1.386 billion yuan, and net profit will rise to 225 million yuan, with total assets and net assets growing by 33% and 26% respectively [5][10]. Management and Control - The actual controller of both companies, Wang Xiaoming, has raised concerns due to the complex relationship between them. He holds 54% of Shengci Technology, which owns 50% of Jin Nan Magnetic Materials, and has a direct stake of approximately 26.59% in Jin Nan [7][9]. Regulatory Concerns - Regulatory scrutiny has previously been directed at the relationship between the two companies, particularly during New Lai Fu's IPO phase, where questions were raised about potential competition between them. The current acquisition emphasizes their shared industry, raising concerns about the transaction's legitimacy [9]. Financial Pressure - New Lai Fu faces significant financial pressure, with cash reserves dropping from 1.324 billion yuan at the time of its IPO to 283 million yuan, a decrease of 78.6%. The company has a total debt of 154 million yuan, and the source of cash for the acquisition remains unclear, leading to speculation about potential fundraising challenges [10]. Industry Outlook - The demand for magnetic materials is expected to grow significantly, with projections indicating that the global market for magnetic materials will exceed 100 billion USD by 2025, driven by sectors such as industrial automation, new energy vehicles, and robotics. If New Lai Fu can effectively integrate resources, it may position itself among the top players globally [12].