持续深化全球化战略 构筑独特的竞争壁垒 信凯科技自1996年成立以来，始终以全球化视野布局产业生态，实现从出口到本土化运营的全方位转型。目前，公司已在全球70多个国家和地区建立业务 网络，在荷兰、美国、澳大利亚等核心市场设立7家子公司，并构建了覆盖欧洲、北美、亚洲的本地化仓储与销售体系。这一网络不仅实现了对客户需求 的快速响应，更通过深度参与国际标准制定，打破了欧美国家长期主导的技术壁垒。 面对欧盟REACH法规的严苛要求，信凯科技以先发优势完成了89项有机颜料及相关物质的注册，成为国内行业合规标杆。公司产品通过严格的国际接触 安全标准，成功打入食品包装、儿童玩具等高端应用领域。随着各地环保法规趋严以及消费者对产品安全性的重视程度不断提高，公司在绿色有机颜料领 域的布局将进一步强化其市场领先优势。 中国作为全球有机颜料产业的主要市场，经过多年产业升级与技术创新，产量规模与出口份额连续多年领跑全球市场。 2025年上半年，伴随着欧盟REACH法规新增12项限制物质、美国《生物技术法案》强化供应链审查，倒逼有机颜料行业向高端化、绿色化加速转型。在 这场席卷全球的技术与合规的产业变革大考中，中国有机颜料出口龙头浙江 ...

百合花集团股份有限公司2025 年半年度报告 公司代码：603823 公司简称： 百合花 百合花集团股份有限公司 百合花集团股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人陈立荣、主管会计工作负责人蒋珊及会计机构负责人（会计主管人员）戚亚仙 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 不适用 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请 投资者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 公司已在本报告中详细描述可能存在的相关风险，敬请查阅第三 ...

Investment Rating - The report does not explicitly state the investment rating for Trust Chem (001335.CH) Core Insights - Trust Chem has been deeply rooted in the organic pigment industry for 30 years, establishing a mature business model and becoming a significant supplier globally. The company specializes in organic pigments used in inks, coatings, and plastics, catering to a wide range of customized demands from numerous downstream segments and customers [2][3] - The company effectively manages its supply chain resources, integrating upstream suppliers to offer a comprehensive range of over 450 pigment product specifications characterized by various resistance properties and environmental friendliness. Trust Chem has completed REACH registration for 89 organic pigments, positioning itself as a leader in this aspect within the domestic industry [4][3] - Trust Chem has developed a global sales network, establishing long-term relationships with major international clients such as DIC Corporation and Sherwin-Williams Company. The company operates in over 70 countries and has ranked first in the national organic pigment export industry from 2015 to 2023 [4][3] Summary by Sections Company Overview - Trust Chem was founded in 1996 and has become a key player in the organic pigment industry, focusing on understanding customer needs and developing tailored solutions [2][3] Supply Chain Management - The company has a dynamic approach to managing supply chain resources, enhancing its supply structure through product development and quality management. It has established core technologies in pigment surface treatment and detection, allowing for customized product development [4][3] Global Presence - Trust Chem has a strong brand presence and operates subsidiaries in various countries, contributing to its extensive global reach and consistent export leadership in the organic pigment sector [4][3]

Core Viewpoint - United Chemical announced an investment of 120 million yuan in Zhuoguangrui Technology, acquiring a 19.3548% stake, with a pre-investment valuation of 500 million yuan. The investment aims to support the development of domestic projection exposure machines and related components, which are considered essential for the digital economy and AI industries [1][2]. Group 1: Financial Performance of Zhuoguangrui - Zhuoguangrui reported zero revenue for the first five months of this year and a loss exceeding 25 million yuan. As of May 31, its net assets were -41.47 million yuan [1][2]. - For the year 2024, Zhuoguangrui is projected to achieve revenue of 26.58 million yuan but will incur a loss of 15.84 million yuan. These financial figures are unaudited and based on simulated data [2][3]. Group 2: Company Background and Operations - Zhuoguangrui was established on March 7, 2023, and is primarily focused on the research and development of projection exposure machines used in semiconductor wafer manufacturing [2][4]. - The company has a wholly-owned subsidiary, Gangjing Optical Technology, founded on June 2, 2023, which specializes in the R&D, production, and sales of optical components for projection exposure machines [3][4]. Group 3: Investment Purpose and Strategic Direction - The investment funds will be specifically allocated for the R&D of projection exposure machines and related components, with a maximum of 20% of the investment directed towards Gangjing Optical Technology [5]. - United Chemical views this investment as a strategic pivot towards becoming a technology-driven company, moving away from traditional manufacturing [6]. Group 4: Market Performance and Future Outlook - United Chemical's stock price increased by 308% from April 1 to July 7, 2025, and 438% in the first half of the year, making it a significant focus in the capital market [6][7]. - The company has decided to postpone two major fundraising projects due to low investment progress, indicating a shift in focus towards semiconductor-related initiatives [7].

Group 1 - The core strategy of Jinzhou City is the "136921" development strategy, focusing on project construction as a means to stabilize growth and enhance long-term development [1] - Jinzhou aims to develop two trillion-level industrial clusters in petrochemicals and fine chemicals, and metallurgy and new materials, along with several smaller clusters in advanced equipment manufacturing and food processing [2] - The city has successfully launched a needle coke production project with an annual capacity of 350,000 tons, accounting for approximately 20% of the national market, establishing itself as the largest oil-based needle coke production base in China [4] Group 2 - Jinzhou has seen a significant increase in domestic and foreign investment, with growth rates surpassing national and provincial averages over the past two years [3] - The city has established 45 investment promotion departments and 8 socialized investment agencies to enhance the quality and efficiency of investment attraction [3] - Key projects include the transformation of the needle coke facility, the production of high-quality organic pigments, and the development of a national lubricating oil additive industry base [4]

针对欧盟REACH注册这一化学品贸易的"绿色壁垒"，信凯科技自主完成89个有机颜料及相关物质的注 册，成为国内注册数量领先的企业。这一布局使其成功打入DIC株式会社、富林特集团等全球油墨涂料 巨头的供应链体系。 在竞争激烈的有机颜料领域，信凯科技通过持续研发投入构筑了坚实的技术护城河。公司拥有49项授权 专利（含10项发明专利），参与制定29项国家及行业标准，其中7项担任第一作者。其核心技术在有机 颜料表面处理、负面物质控制等方面形成差异化优势。 值得注意的是，信凯科技于4月15日登陆深交所主板时，将募集资金的62%（1.65亿元）投向研发中心 及总部建设，计划开展8大研发项目，包括环保型有机颜料开发、绿色生产工艺优化等。显示公司正从 传统制造商向技术驱动型企业转型。随着全球对化学品环保要求趋严，信凯的技术储备有望带动公司构 建技术壁垒，增加核心竞争力。 4月29日，国内有机颜料行业新上市公司，信凯科技（001335.SZ）发布2025年一季度业绩报告。报告显 示，公司实现营业收入3.51亿元，同比增长10.34%；归母净利润0.23亿元，同比大幅增长29.79%。这一 亮眼成绩的背后，是公司深耕全球化战略布 ...

Core Viewpoint - The company is a leading domestic producer of organic pigments, focusing on quality, service, and technological innovation to meet market demands and expand into electronic chemicals [4][32]. Group 1: Company Overview - The company adheres to the principle of "building brand with quality and winning trust with service," emphasizing technological innovation and quality [4]. - The company has established a stable partnership with DIC Corporation, a global leader in the ink industry, highlighting its international competitiveness [32]. Group 2: Financial Information - The company has announced a profit distribution plan, proposing a cash dividend of 2 yuan per 10 shares and a capital reserve conversion of 4 shares for every 10 shares [3]. Group 3: Industry Overview - The organic pigment industry is characterized by a shift towards Asia, particularly China and India, which are becoming major production hubs due to lower labor costs and resource availability [13]. - The global demand for organic pigments is stable, with an annual production of approximately 400,000 to 500,000 tons, and China maintains a production level of around 270,000 tons, making it the largest producer and exporter [13][16]. Group 4: Market Trends - There is an increasing demand for environmentally friendly and high-performance pigments due to stricter regulations and consumer preferences [15][16]. - The organic pigment market is expected to grow, with applications in inks (70%), coatings (20%), and plastics (10%) [17]. Group 5: Development Directions - The industry is moving towards sustainable practices, including the development of heavy metal-free pigments and low VOC formulations [18][19]. - The company is focusing on enhancing product performance through molecular structure modifications and exploring new applications in emerging markets such as renewable energy and electronics [20][22].

Core Viewpoint - The report highlights the operational performance and financial status of Baihehua Group Co., Ltd. for the year 2024, indicating a growth in revenue and net profit, alongside a detailed overview of the organic pigment industry and the company's market position. Group 1: Company Overview - Baihehua Group is involved in the production and sales of organic pigments, with a comprehensive range of products covering mainstream varieties [5][8]. - The company holds a production capacity of over 40,000 tons of organic pigments, accounting for approximately 10% of the global market [8]. Group 2: Financial Performance - The company achieved an operating revenue of 2,403.38 million yuan, representing a year-on-year increase of 5.23% [11]. - The net profit attributable to the parent company was 176.06 million yuan, up 46.45% from the previous year [11]. - The net profit after deducting non-recurring gains and losses was 158.30 million yuan, reflecting a growth of 58.76% year-on-year [11]. Group 3: Industry Context - The organic pigment industry has seen a shift from Western dominance to significant production in Asia, particularly China, which is now the largest producer of organic pigments globally [5][6]. - The market is characterized by a dual structure where large enterprises dominate the high-end segment, while numerous small and medium-sized enterprises focus on the mid-to-low-end market [6]. - There is a growing demand for high-performance and environmentally friendly organic pigments, driven by the needs of downstream industries such as coatings, inks, and plastics [6][7]. Group 4: Future Outlook - The organic pigment market is expected to continue its steady growth, supported by increasing environmental regulations and technological advancements [7]. - The company aims to enhance its competitive edge by investing in research and development to meet the evolving demands for higher quality and customized pigment solutions [6][7].

4月15日，浙江信凯科技集团股份有限公司（股票代码：001335 简称：信凯科技）成功登陆深交所主板，首日股 价表现亮眼，公司发行价为12.80元/股，上市首日开盘报51.00元/股，大涨接近300%，总市值达49.50亿元，展现 出投资者对有机颜料细分领域龙头企业的价值认可。 作为全球有机颜料市场的重要参与者，信凯科技连续九年蝉联国内有机颜料出口冠军，构建起覆盖DIC株式会 社、富林特集团、盛威科集团等国际油墨巨头的客户矩阵。公司本次上市共募得资金2.99亿元，将主要用于研发 中心及总部建设，通过强化技术研发能力为公司可持续发展注入新动能。 有机颜料出口冠军，全球化布局年收超14亿 在人类文明发展史中，颜料始终扮演着重要角色。有机颜料作为现代精细化工的结晶，凭借卓越的色彩表现力、 环保安全性和耐候性能，在油墨、涂料、塑料等工业领域占据重要地位。 信凯科技成立于1996年，是国内较早从事有机颜料产品开发的企业之一。公司最初以贸易业务为主，逐步发展为 集产品开发、品质管理和供应链整合于一体的全球着色剂解决方案提供商。 依托早期的贸易业务基础，公司聚焦海外市场，在荷兰、美国、澳大利亚、加拿大、土耳其、印度、英国等 ...

Core Viewpoint - The article discusses the upcoming IPOs of two companies, Taihe Co., Ltd. and Xinkai Technology, highlighting their business models, financial performance, and investment plans. Group 1: Taihe Co., Ltd. - Taihe Co., Ltd. is a leading supplier of agricultural fungicides and herbicides in China, with a strong market presence and technological capabilities [2][3] - The company plans to issue shares at a price of 10.27 CNY per share, with a maximum subscription limit of 7,000 shares per account, requiring a market value of 70,000 CNY in the Shenzhen market for full subscription [3] - Taihe's revenue for 2022, 2023, and 2024 is projected to be 5.099 billion CNY, 3.868 billion CNY, and 4.214 billion CNY, respectively, with net profits of 649 million CNY, 346 million CNY, and 261 million CNY [3][4] - The funds raised will be invested in fungicide projects and a research and development center, including the production of various active ingredients [4] Group 2: Xinkai Technology - Xinkai Technology is a core supplier in the global organic pigment market, recognized as the top exporter of organic pigments in China for several consecutive years [2][5] - The company will issue shares at a price of 12.8 CNY per share, with a maximum subscription limit of 9,000 shares per account, requiring a market value of 90,000 CNY in the Shenzhen market for full subscription [5] - Xinkai's revenue for 2022, 2023, and 2024 is projected to be 1.192 billion CNY, 1.069 billion CNY, and 1.417 billion CNY, respectively, with net profits of 88 million CNY, 88 million CNY, and 111 million CNY [6] - The funds raised will be used for the construction of a research and development center and headquarters, as well as to repay bank loans [7]