Core Viewpoint - The "4th Advanced Gel Materials and Industrial Applications Forum" will be held from October 21-23, 2025, in Suzhou, focusing on "Innovation-driven, Industry Integration" to create a collaborative platform for government, industry, academia, research, application, and investment [2]. Organizers and Participants - The forum is organized by the Suzhou Institute of Nano-tech and Nano-bionics, Jiangsu Advanced Gel Materials Engineering Research Center, DT New Materials, and Suzhou Nano Technology Development Co., Ltd. [3] - Honorary Chairman: Li Qingwen, Researcher at the Suzhou Institute of Nano-tech and Nano-bionics [3]. - Executive Chairmen: Zhang Xue Tong and Yan Feng, both researchers at the Suzhou Institute of Nano-tech and Nano-bionics and Suzhou University respectively [3]. Agenda Overview - The forum will include a general assembly and keynote speeches on October 22, with various presentations scheduled throughout the day [4][5]. - The agenda features a series of presentations by prominent professors from various universities, covering topics such as high-strength hydrogels, soft robotics, and bio-inspired materials [4][5][6]. Youth Scientist Forum - A special Youth Scientist Forum will take place on October 22, 2025, allowing young scientists to present their research in a structured format, fostering discussion and feedback from experts [12]. - Participants will present for 10 minutes followed by a 5-minute Q&A session, with awards presented during the forum's dinner [12]. Registration and Participation - Registration fees are set at 2600 RMB for regular attendees and 1400 RMB for student representatives, with specific payment instructions provided [19]. - Participants are encouraged to submit posters for display, with guidelines on size and submission process outlined [17]. Previous Forums - The article highlights the successful hosting of previous forums in 2021, 2023, and 2024, indicating a strong foundation and ongoing interest in the field of advanced gel materials [26].

丨证券研究报告丨 公司研究丨点评报告丨中国化学（601117.SH） [Table_Title] 业绩稳增长，化工实业、新疆煤化工贡献增量 报告要点 [Table_Summary] 公司上半年营业总收入 907.22 亿元，同比下降 0.35%，归属净利润 31.02 亿元，同比增长 9.26%，扣非净利润 30.03 亿元，同比下降 1.56%。 分析师及联系人 [Table_Author] SAC：S0490520080022 SAC：S0490522060005 SAC：S0490525070008 SAC：S0490525080003 SFC：BUT917 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 1 张弛 张智杰 袁志芃 龚子逸 中国化学（601117.SH） cjzqdt11111 [Table_Title2] 业绩稳增长，化工实业、新疆煤化工贡献增量 [Table_Summary2] 事件描述 公司上半年营业总收入 907.22 亿元，同比下降 0.35%，归属净利润 31.02 亿元，同比增长 9.26%，扣非净利润 30.03 亿元，同比下降 ...

Core Viewpoint - The aerogel industry is experiencing unprecedented growth opportunities driven by the development of the new energy vehicle sector and the implementation of green building policies, with a significant market potential in the trillion-yuan range [2][3]. Group 1: Industry Opportunities - The aerogel market is expected to expand significantly due to the safety requirements of new energy vehicle batteries and the demand for green buildings [2]. - Major battery manufacturers, including CATL and Guoxuan High-Tech, are procuring aerogel products for thermal insulation in electric vehicle batteries [2]. - Various local governments have included aerogel materials in their green building material recommendations, indicating strong policy support for the industry [2]. Group 2: Company Developments - As of August 27, 2025, there are 3,263 registered companies related to aerogels, with a concentration in economically developed regions [3]. - The top five provinces for aerogel company registrations are Jiangsu (558), Hebei (357), Guangdong (345), Zhejiang (243), and Shandong (241), accounting for 53.45% of the total [3]. - Domestic aerogel production capacity exceeds 200,000 cubic meters, with several leading companies entering the market, including China Chemical and Morning Light New Materials [3]. Group 3: Production Capacity and Investments - Hualu New Materials plans to build a production base with an annual capacity of 300,000 cubic meters of silica-based aerogel composite materials, with a total investment of approximately 5 billion yuan [4]. - Aerospace Wujing has an annual production capacity of 20,000 cubic meters and aims to establish the first national standard for aerogel composite glass [5]. - Morning Light New Materials has the largest planned capacity in China at 77,000 tons, with multiple production bases under development [6]. Group 4: Future Projects and Expansion - Various companies are planning significant expansions, such as Aibihai, which aims to increase its production capacity by 125% through new projects [5]. - Nanotech has a current capacity of 36,000 cubic meters per year and plans to build additional projects to reach a capacity of 200 million aerogel insulation sheets [8]. - Lingwei New Materials has initiated a project to achieve an annual capacity of 20,000 tons of ultra-fine silica aerogel products, with full production expected by 2027 [9].

Core Viewpoint - The article highlights the critical safety concerns associated with lithium-ion batteries, particularly the risk of thermal runaway, and emphasizes the new national standard GB 38031-2025, which significantly raises safety requirements for battery packs, creating a billion-dollar market for advanced thermal insulation materials like aerogels [2]. Group 1: Industry Standards and Market Impact - The new national standard requires battery packs to remain non-flammable and non-explosive within 2 hours after a single cell experiences thermal runaway, with all monitoring points maintaining temperatures below 60℃, increasing safety requirements by 24 times [2]. - This regulatory change is expected to lead to a reshuffling in the industry, favoring companies that proactively invest in safety technologies [2]. Group 2: Aerogel as a Solution - Aerogels, known for their ultra-low thermal conductivity of 0.015-0.019 W/(m·K), are identified as the most effective thermal insulation materials currently available, significantly reducing the risk of fire from battery issues [2]. - Companies like BYD are increasingly adopting pre-oxidized fiber aerogel insulation sheets and ceramic aerogel insulation sheets to enhance the safety of electric vehicles [2]. Group 3: Key Players in the Aerogel Market - Zhejiang Yangu Technology Co., Ltd. has invested 800 million yuan in a silica aerogel project, aiming for an annual production capacity of 4 million square meters of aerogel composite materials [3]. - Shenzhen Zhongning Technology Co., Ltd. is recognized as a national-level specialized and innovative enterprise, leading the push for aerogel industrialization in China [6]. - Jiangxi Hongbai New Materials Co., Ltd. has established a production base with an annual capacity of over 10 million pieces of battery insulation pads, reflecting the growing demand in the new energy market [8]. Group 4: Emerging Technologies and Innovations - Companies are developing a range of aerogel products, including flexible aerogel insulation mats and fireproof pads, to meet the increasing demands for safety in high-temperature applications [54]. - The article mentions that the aerogel industry is witnessing significant technological advancements, with companies focusing on creating high-performance aerogel products that can withstand extreme temperatures and provide effective insulation [37][58]. Group 5: Upcoming Events - The 6th Thermal Management Industry Conference and Exposition will take place from December 3-5, 2025, in Shenzhen, focusing on thermal management materials and technologies, including aerogels [86].

Core Viewpoint - Insulation materials play a crucial role in achieving energy efficiency and reducing carbon emissions, aligning with the "dual carbon" goals of the country [2][11]. Group 1: Types of Insulation Materials - Insulation materials can be categorized into four main types: organic insulation materials, inorganic insulation materials, new materials, and composite materials [18][25]. - Organic insulation materials are characterized by their porous structure and low density, making them widely applicable in construction and industrial fields [18][22]. - Inorganic insulation materials feature high porosity and nano-scale pore structures, effectively reducing heat conduction [22]. - New materials focus on optimizing performance through thermal conduction path regulation, radiation suppression, and structural stability [25]. - Composite materials combine two or more materials to enhance overall performance [26]. Group 2: Market Opportunities - The market for insulation materials is projected to exceed hundreds of billions, with new insulation materials rapidly penetrating various sectors [4][32]. - In the power battery sector, the demand for thermal management and flame-retardant insulation materials is expected to surpass 90 million square meters by 2025, corresponding to a market size of approximately 6.3 billion yuan [4][49]. - The building energy-saving market is anticipated to reach 248.5 billion yuan by 2025, with a year-on-year growth of 13.8% [63]. - The oil and gas pipeline insulation materials market is projected to reach 10.96 billion yuan by 2025 [4]. Group 3: Innovations in Insulation Materials - The emergence of super insulation materials, such as aerogels, presents significant industrialization prospects [5]. - Super insulation materials have a thermal conductivity coefficient lower than that of "still air," with room temperature thermal conductivity typically below 0.04 W·m⁻¹·K⁻¹ [5]. - Companies like Zhite New Materials are leveraging AI for material research and development, significantly enhancing performance while reducing costs [5]. Group 4: Specific Applications - In the power battery sector, the use of aerogel insulation materials is expected to grow due to the increasing sales of new energy vehicles and the rising proportion of high-nickel batteries [4][50]. - In the construction sector, insulation materials are crucial for reducing heat loss, with external wall insulation being a primary focus [55][58]. - The oil and gas industry utilizes insulation materials to effectively protect against heat loss during transportation [4][32].

Group 1 - The core viewpoint of the article is that the aerogel market is on the verge of explosive growth, driven by its superior thermal insulation properties and the dual forces of increasing penetration in key applications and decreasing costs [2][3]. - Aerogel is defined as a next-generation high-efficiency thermal insulation material with unique properties such as low thermal conductivity, lightweight, and long lifespan, making it suitable for various applications including energy storage, building insulation, and industrial insulation [6][40]. - The market size for aerogel is projected to reach billions, with a consensus among multiple institutions that the market will aim for a scale of 100 billion by 2025, driven by the demand in new energy vehicles and building energy efficiency [2][3]. Group 2 - The article outlines the competitive landscape of the aerogel industry, highlighting key players and their capabilities in terms of production capacity, technology routes, and customer resources [5][9]. - It emphasizes the importance of technological barriers, particularly in drying processes and patent strategies, as well as the innovation directions in developing new materials and optimizing performance [5][56]. - The article discusses the significant policy support from the government for the aerogel industry, which is crucial for achieving carbon neutrality goals and promoting the development of new materials [54][58]. Group 3 - The aerogel supply chain is detailed, including upstream sources of silica, midstream production processes, and downstream applications across various sectors such as petrochemicals, construction, and transportation [56][68]. - The article notes that the petrochemical sector is the largest application area for aerogel, accounting for 56% of consumption, followed by industrial insulation at 18% [40][57]. - It highlights the increasing adoption of aerogel in the new energy vehicle sector, with major manufacturers like BYD and CATL incorporating aerogel products into their battery designs to enhance safety and efficiency [71][73].

Group 1 - The sales revenue of high-tech industries in Henan Province increased by 18% year-on-year in the first half of the year, indicating a strong growth in innovative industries [1] - The sales revenue of the manufacturing sector in Henan Province grew by 4.3% year-on-year, with specific increases in equipment manufacturing (10.8%), digital product manufacturing (24.8%), and high-tech manufacturing (25.7%) [1] - Zhengzhou Peak Tai Nano Materials Co., Ltd. reported a significant increase in R&D investment, benefiting from tailored tax policies that encourage innovation and investment [1] Group 2 - The sales of aerogel by Gongyi Fanrui Yihui Composite Materials Co., Ltd. reached 144 million yuan, a year-on-year increase of 48.81%, making it a major supplier for new energy battery companies like CATL and BYD [1] - The data from value-added tax invoices reflects the macroeconomic performance and the effectiveness of macro policies in fostering innovation and new productive forces in the province [2]

Group 1 - The sales revenue of high-tech industries in Henan Province increased by 18% year-on-year in the first half of the year, indicating strong growth in innovative industries [1] - The core industries of the digital economy saw a year-on-year growth of 18.7%, reflecting the continuous enhancement of innovation leadership [1] - The manufacturing sales revenue in Henan Province grew by 4.3% year-on-year, with equipment manufacturing, digital product manufacturing, and high-tech manufacturing sales increasing by 10.8%, 24.8%, and 25.7% respectively [1] Group 2 - Zhengzhou Peak Tai Nano Materials Co., Ltd. reported nearly 10 million yuan in R&D expense deductions over the past three years, benefiting from tailored tax policies that encourage investment [1] - Gengyi Fanrui Yihui Composite Materials Co., Ltd. achieved sales of 144 million yuan in aerogel, a year-on-year increase of 48.81%, becoming a major supplier for new energy battery companies like CATL and BYD [1] - The chairman of Gengyi Fanrui emphasized that continuous innovation and R&D are essential for meeting market demands and achieving significant growth [1]

Core Viewpoint - The new materials industry is experiencing rapid growth, with significant opportunities arising from technological advancements and domestic production capabilities, particularly in semiconductor materials, display materials, and renewable energy sectors [2][14][18]. Group 1: New Materials Industry Overview - The global new materials industry reached a value of $2.8 trillion in 2019, with a projected growth trajectory [2][13]. - In China, the new materials industry generated a total output value of 6.4 trillion yuan in 2021, with an annual compound growth rate of 23.1% from 2010 to 2021, and is expected to reach 7.5 trillion yuan in 2022 [14][15]. - The Ministry of Industry and Information Technology forecasts that by 2025, the total output value of China's new materials industry will reach 10 trillion yuan, indicating a broad market outlook [14][18]. Group 2: Semiconductor Sector - The global semiconductor market size reached $595 billion in 2021, with expectations to grow to $790 billion by 2026, driven by developments in 5G and automotive electronics [4][21]. - The semiconductor materials market in China was valued at $119 billion in 2021, reflecting a year-on-year growth of 22.2% [34][36]. - Key materials such as electronic specialty gases and photoresists are critical for chip manufacturing, with high import dependency highlighting significant domestic production opportunities [4][42][46]. Group 3: Display Materials - The display materials sector is poised for growth, with the global OLED materials market expected to increase from approximately $900 million in 2019 to about $2.6 billion by 2024, representing a compound annual growth rate of 23.6% [5][20]. - Domestic leaders in display materials, such as Wanrun and Ruilian, are major suppliers of liquid crystal and OLED materials, benefiting from the recovery in consumer demand [5][20]. Group 4: Renewable Energy Materials - The renewable energy sector is rapidly evolving, with significant opportunities in battery materials such as composite copper foil and conductive carbon black, as well as in photovoltaic materials like reflective films [7][20]. - The market for sodium battery materials is expected to grow significantly, with projections indicating a market size of 73.8 billion yuan by 2025 [20]. Group 5: Environmental Materials - Traditional chemical applications are also seeing upgrades, with domestic companies like Zhongchumai and Jianlong Weina capitalizing on the opportunities in molecular sieves and lubricating oil additives [8][20]. - Aerogels, known for their exceptional insulation properties, are gaining traction in construction and electric vehicle markets, with domestic firms like Chenguang New Materials actively entering this space [9][20].

Core Viewpoint - The company announced the design capacity of its "Annual Production of 23,000 Tons of Special Organic Silicon Materials Project," specifically for aerogels, is set at 2,000 tons per year, and it has entered formal production phase [1] Group 1: Project Developments - The wholly-owned subsidiary Anhui Chenguang New Materials Co., Ltd. is in the comprehensive construction phase of its "Annual Production of 300,000 Tons of Functional Silanes Project" [1] - The wholly-owned subsidiary Ningxia Chenguang New Materials Co., Ltd. has reached trial production conditions for the first phase of its "Annual Production of 300,000 Tons of Silicon-based and Aerogel New Materials Project," which is expected to continue with the second phase construction and third phase planning in 2025 [1]