Group 1 - Steel Research Nack (SZ 300797) announced that its third board meeting for the year 2025 was held on August 25, 2025, to review the semi-annual report and its summary [1] - For the year 2024, the company's revenue composition is entirely from material testing services, accounting for 100.0% [1] Group 2 - The pet industry is experiencing a significant boom, with a market size of 300 billion, leading to a surge in stock prices for related companies [1]

Group 1 - The company focuses on the niche market of metal materials testing [1] - The company is dedicated to the research and manufacturing of material testing services and equipment [1]

Core Insights - The materials testing industry is crucial in the application of new materials, with significant growth driven by the demand from strategic sectors like new energy and semiconductors in China [1][6] - The global materials testing market is projected to reach $6.8 billion in 2024, with China's market expected to grow to 13 billion yuan, and further growth anticipated in 2025 [4][6] Industry Definition - The materials testing industry involves the examination, analysis, and evaluation of various materials' composition, performance, structure, safety, reliability, and environmental impact [2] - It covers a wide range of materials including metals, non-metals, polymers, composites, and biomaterials, serving multiple sectors such as industrial manufacturing, construction, aerospace, automotive, electronics, new energy, and medical devices [2] Current Development Status - The demand for materials testing is primarily focused on the quality, performance, and safety of construction materials, with significant growth attributed to advancements in testing technology and increased emphasis on product quality and safety [4] - The global materials testing market is expected to grow to $7.1 billion by 2025, with specific sectors like rail transportation and aerospace projected to see substantial increases in testing demand [4] Industry Value Chain - The upstream of the materials testing industry includes instruments, consumables, standards, data and software, and talent, with a reliance on imported high-end testing equipment [8] - The downstream includes diverse demand for testing services across various industries, particularly emerging sectors like new energy and semiconductors, which drive technological upgrades in testing [8] Competitive Landscape - The materials testing service market features a multi-tiered and differentiated competitive structure, with both international giants and local firms competing [12] - Key domestic players include Huace Testing, China Certification & Inspection Group, and PONY Testing, while international competitors include SGS, BV, and Intertek [12][13] Industry Development Trends - The materials testing industry is evolving towards smart and digital solutions, sustainability, and increased localization, driven by advancements in new materials technology and global quality standards [14]