Core Viewpoint - Jiachi Technology is actively expanding its presence in the civilian market, focusing on the development of next-generation electromagnetic wave anechoic chambers and key absorbing materials, as well as the electromagnetic measurement and control sector [1][2][3] Group 1: Civilian Market Expansion - The company is heavily investing in the civilian sector, particularly in two areas: the next-generation electromagnetic wave anechoic chamber system integration and key absorbing materials, and the electromagnetic measurement and control field [2][3] - The new generation electromagnetic wave anechoic chamber has completed the development of key absorbing materials and system integration design capabilities, showcasing significant advantages in low-frequency performance, lifespan, and operational costs, with multiple projects won amounting to several million yuan [2][3] Group 2: Electromagnetic Measurement and Control - The company has established a subsidiary, Chengdu Haojing Electromagnetic Measurement and Control Technology Co., Ltd., to focus on the EMMS (Electromagnetic Functional Materials and Structures) field, addressing the significant demand for testing technology and capabilities in both military and civilian high-density integrated electronic information sectors [3][4] - The establishment of the electromagnetic measurement and control subsidiary is a strategic move to enhance business focus and capability integration, forming a core competitive advantage in the civilian market [3][4] Group 3: Production Capacity and R&D - The company has built the largest YS functional coating material production base in the country, with production capacity meeting current and future order demands, while the YS functional structural components' production capacity is in high demand [3][4] - The company is committed to increasing R&D investment and has formed a competitive talent team in the EMMS field, continuously attracting graduates from well-known universities and nurturing various levels of young talent [4]

Industry Overview - Coating materials are defined as materials that form a film on the surface of objects under certain conditions, enhancing aesthetics, extending product lifespan, or providing special functions such as insulation, anti-fouling, and heat resistance [2] - The coating materials can be categorized into three main types based on application: architectural coatings, industrial coatings, and other auxiliary materials [2] Current Market Analysis - The coating materials market in China is experiencing steady growth, with the market size increasing from RMB 407.2 billion in 2020 to RMB 463.71 billion in 2024, reflecting a compound annual growth rate (CAGR) of 3.3%. It is projected to reach nearly RMB 500 billion by the end of 2025 [3][5] - The industrial coating materials market, which includes sectors such as automotive, pharmaceuticals, and consumer electronics, is expected to grow from approximately RMB 2,731.2 billion in 2024 to nearly RMB 3,000 billion by 2025, driven by policy support and rising consumer demand [5][8] Industry Chain Structure - The coating materials industry chain consists of upstream raw materials, midstream manufacturing, and downstream application markets. The upstream is primarily composed of four categories: film-forming substances, pigments/fillers, solvents, and additives [8] - Raw materials account for over 80% of the manufacturing costs in coating materials production, with film-forming substances, solvents, additives, and pigments/fillers comprising 44.5%, 21.7%, 20.7%, and 13.1% of raw material costs, respectively [9] Competitive Landscape - The coating materials industry in China is characterized by a "large industry, small enterprises" competitive structure, with foreign brands dominating the high-end market due to technological advantages. Domestic companies are primarily concentrated in the mid-to-low-end sectors, facing challenges in product differentiation [10] - Notable domestic companies include Songyi Co., Donglai Technology, Yatu High-tech, Sanxin Co., Kangmite, and Huigu New Materials [10] Development Trends - Domestic brands are upgrading their technologies and accelerating the import substitution process, particularly in high-end industries such as new energy and display panels, indicating significant market potential for domestic enterprises [11] - The demand for functional coating materials is expanding from traditional sectors to emerging industries like new energy, electronics, and aerospace, necessitating enhanced R&D capabilities and driving the industry towards higher value-added products [12]

文/梧桐数据中心 近日，中国证券业协会公告2025年第二批首发企业现场检查抽查名单，共有12家IPO企业被抽中现场检查，其中沪主板3家、深主板3家、科创板5家、创业板1家。 这12家被抽中现场检查的IPO企业的基本信息如下： 单位：万元 | 公司简称 | 拟上板块 | 主营业务 | 2024年营收 | 2024年净利 | 保荐/律所/审计 | | --- | --- | --- | --- | --- | --- | | | | | | 润 | | | 长裕集团 | 沪主板 | 错类产品、特种尼龙产品、精细化 工产品的研发、生产和销售 | 163,708.79 | 20.102.12 | 西南证券/时代九和/上会 | | | | 汽车制造机器视觉设备的研发、生 | | | | | 易思维 | 科创板 | 产及销售 | 39.242.06 | 6,171.83 | 国投证券/北京君合/天健 | | | | 等离子体射频电源系统、等离子体 激发装置、等离子体直流电源、各 | 54,079.03 | 13.058.00 | | | 恒运昌 | 科创板 | 种配件的研发、生产、销售及技术 | | | 中信证券/上海锦 ...

证券代码：301389 证券简称：隆扬电子 隆扬电子（昆山）股份有限公司 投资者关系活动记录表 编号：2025-008 | 活动类别  | 特定对象调研 □分析师会议 | | --- | --- | | | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | |  其他 __线上会议__ | | 参与单位名称 | 中金证券、嘉实基金、华安基金、长城基金、诺安基金、中银 | | | 基金、新华资产、聚鸣投资、Hao capital、Blackrock、Trivest、 | | | 海富通基金、国寿养老、长江养老、盘京投资、财通资管、宏 | | | 道投资（以上排名不分先后） | | 时间 | 2025 年 7 月 4 日 | | 地点 | 公司会议室 | | 上市公司接待人员姓 | 董事长 傅青炫 | | 名 | 董事会秘书 金卫勤 | | | 证券事务代表 施翌 | | | 大事项，董事长同与会人员进行了问答交流，本次交流主要内容 | | | 如下： | | | Q1、HVLP5 铜箔的竞争格局是什么样的？ | | | 答：HVLP5 等级的铜箔公司目前正在和客 ...

Core Viewpoint - The company, Guangzhou Huigu New Materials Technology Co., Ltd. (Huigu New Materials), has received approval for its IPO application on the ChiNext board, aiming to raise 900 million yuan for various projects, including the expansion of its production capacity and R&D center, to enhance its technological innovation and meet market demands [1][15]. Group 1: Financial Performance - The company has shown continuous revenue growth over the past three years, with revenues of 663.6 million yuan, 717.4 million yuan, and 816.9 million yuan from 2022 to 2024, respectively [9]. - The gross profit margins have improved, with rates of 29.56%, 38.51%, and 40.68% during the same period [9]. - Net profits attributable to the parent company increased significantly from 30.09 million yuan in 2022 to 145.79 million yuan in 2024 [9]. Group 2: Product and Market Position - Huigu New Materials specializes in functional resins and coatings, with a diverse product range that includes energy-saving coatings for heat exchangers and coatings for metal packaging [4][22]. - The company holds a market share of over 60% in the energy-saving coating sector and over 30% in the metal packaging coating sector in China [8][23]. - The company has successfully replaced imported products in several categories, including MiniLED optical coatings and current collectors, establishing itself as a domestic leader in these segments [8][24]. Group 3: R&D and Innovation - The company has invested significantly in R&D, with expenses of approximately 47.89 million yuan, 50.60 million yuan, and 54.91 million yuan from 2022 to 2024, representing 7.22%, 7.05%, and 6.72% of revenue, respectively [9]. - Huigu New Materials has a strong R&D team of 198 personnel and has established multiple research centers across different cities [4][8]. - The company has been recognized as a national-level manufacturing champion by the Ministry of Industry and Information Technology in 2024 [4]. Group 4: Future Plans and Expansion - The company plans to use the funds raised from the IPO to expand its production capacity by 130,000 tons of environmentally friendly coatings and resins, and to enhance its R&D capabilities [1][19]. - The expansion project is expected to generate an annual output value of 1.2 billion yuan and contribute significantly to tax revenues [20]. - The company aims to continue its focus on domestic production and green development, enhancing its competitive edge in the functional materials market [26].

Group 1: Company Overview - Guangzhou Huigu New Materials Technology Co., Ltd. focuses on polymer materials, driven by independent research and development, and specializes in functional resin and coating materials [2][3] - Jinqiao Dek New Materials Co., Ltd. is an environmentally friendly, resource-saving high-tech enterprise engaged in the research, production, and sales of coatings and inks, with a focus on UV curing and water-based environmentally friendly products [3] - Hunan Chuyuan New Materials Co., Ltd. specializes in the research and industrialization of electronic information new materials, particularly photosensitive dry film, achieving significant market share in domestic and global markets [3] Group 2: Business Applications and Innovations - Huigu New Materials has developed a diverse coating material system with features such as optical control, electrical conductivity, mechanical enhancement, and corrosion resistance, targeting four major downstream application scenarios: home appliances, packaging, new energy, and electronics [2] - Jinqiao Dek's products are widely used in daily chemical packaging, consumer electronics, home appliances, and automotive sectors, emphasizing environmentally friendly and resource-saving technologies [3] - Chuyuan New Materials has successfully overcome domestic technology bottlenecks in photosensitive dry film, leading to its products being widely used in various electronic information products, enhancing its market position [3]

文/梧桐数据中心 （二）控股股东、实际控制人 中国电科直接持有公司48.97%的股份，为公司控股股东。除直接持有公司48.97%的股份外，中国电科通过十八所、中电科投资分别间接持有公 司15.00%、4.50%的股份。此外，公司员工持股平台景鸿瑞和、十八所员工的持股平台景源瑞和与十八所签署了《一致行动协议》，约定在股 东权利行使及董事会经营决策等方面与十八所保持一致，景鸿瑞和、景源瑞和合计持有公司16.03%的股份。因此，中国电科合计控制发行人 84.50%的表决权，为公司的实际控制人。 （三）报告期业绩 2022年、2023年、2024年，公司实现营业收入分别为252,111.38万元、352,404.11万元、312,702.27万元，扣非归母净利润分别为20,053.40万元、 14,696.36万元、29,296.85万元。 6月25日-6月28日，沪深北三大交易所新受理56家IPO，其中上交所新受理了11家（沪主板4家、科创板7家），深主板新受理了11家（深主板3 家、创业板8家），北交所新受理了34家。6月新受理IPO数量创今年新高，截至6月28日已受理109家。 目前，沪、深、北三大交易所合计受 ...

Core Viewpoint - Suzhou Beteli High Polymer Materials Co., Ltd. has received acceptance for its IPO on the ChiNext board, with Guosen Securities as the sponsor and Lixin Accounting Firm as the auditor [3] Company Overview - Beteli is a new materials company focused on customer needs and driven by innovative research and development, specializing in electronic materials and chemical new materials [3] - The company's product range includes conductive materials, silicone materials, and coating materials [3] Financial Performance - Total assets as of December 31, 2024, are projected to be 1.1508 billion yuan, an increase from 1.0302 billion yuan in 2023 and 656.23 million yuan in 2022 [4] - The equity attributable to the parent company is expected to reach 724.30 million yuan in 2024, up from 628.80 million yuan in 2023 and 545.20 million yuan in 2022 [4] - The company's asset-liability ratio for the parent company is projected to be 29.11% in 2024, compared to 20.23% in 2023 and 5.16% in 2022 [4] - Consolidated asset-liability ratio is expected to be 37.06% in 2024, down from 38.96% in 2023 and 16.92% in 2022 [4] - Operating revenue is forecasted to be 2.5214 billion yuan in 2024, an increase from 2.2729 billion yuan in 2023 and 635.08 million yuan in 2022 [5] - Net profit attributable to the parent company is projected to be 97.50 million yuan in 2024, up from 85.63 million yuan in 2023 and 16.53 million yuan in 2022 [5] Shareholding Structure - Wang Quan directly holds 73,394,872 shares, accounting for 37.26% of the company, making him the controlling shareholder [6] - Ouyang Xufeng directly holds 48,346,110 shares, representing 24.54% of the company, making him the second-largest shareholder [6] - An agreement for joint action was signed between Wang Quan and Ouyang Xufeng, establishing Wang Quan as the actual controller of the company [7] Management Background - Wang Quan, born in September 1962, has extensive experience in the chemical industry and has held various leadership positions since 1983 [7] - Ouyang Xufeng, born in September 1969, also has a strong background in the chemical sector and has been with Beteli since 2015 [8]

Core Viewpoint - Wuhan Changtao New Materials Co., Ltd. has secured a 20 million yuan equity financing from Hubei Chudao Ruike Private Equity Investment Partnership, marking a significant milestone following its A-round financing led by Dacheng Caizhi in 2023 [1][7] Group 1: Company Overview - Changtao New Materials is a technology-driven high-tech enterprise focused on the research and application of new high-performance surface functional protective coating materials [3][4] - The company has developed the "CT-H type hydrophobic protective coating," which addresses corrosion, pollution, graffiti, and other issues on transportation infrastructure [3][4] Group 2: Research and Development - The company emphasizes continuous R&D innovation, supported by a high-level talent team and a dedicated technical committee composed of industry experts and scholars [5][7] - Changtao New Materials has achieved international leading levels in its self-developed "high durability low surface energy protective coating materials," addressing the market's urgent need for long-lasting protective and self-cleaning properties [4][5] Group 3: Collaborations and Achievements - The company collaborates with the Wuhan Industrial Innovation Development Research Institute to establish the "Wuchuang Institute Changtao High-Performance Surface Functional Materials Joint Innovation Center" [7] - It has received over 10 invention patents and has been recognized as a high-tech enterprise and a "gazelle" enterprise by Hubei Province [7][8] Group 4: Future Prospects - The recent financing is seen as a crucial step for the company's high-quality development, providing a solid market foundation and financial support for expanding production capacity and deepening technological research [7][8] - The company is constructing a research and production base with a designed capacity of 50,000 tons and an annual output value exceeding 2 billion yuan, aiming to establish an integrated smart factory with Industry 4.0 capabilities [7][8]

Core Viewpoint - The company, Suzhou Beteli High Polymer Materials Co., Ltd., has officially submitted its IPO application to the Shenzhen Stock Exchange, aiming to raise funds for strategic projects and enhance its market position in the electronic materials and chemical new materials sectors [1][4]. Group 1: Company Overview - Beteli is a customer-oriented new materials enterprise focused on innovative research and development, specializing in electronic materials and chemical new materials [1]. - The company's product range includes conductive materials, silicone materials, and coating materials, with applications in photovoltaic, 3C electronics, silicone deep processing, electronic packaging, medical, and new energy vehicle sectors [1]. - Major clients in the 3C electronics sector include Lenovo, Huawei, and Xiaomi, while in the electronic packaging sector, key customers include Mulinsen and Zhaochi [1]. Group 2: Financial Performance - For the years 2022 to 2024, Beteli's projected revenues are approximately 635 million yuan, 2.273 billion yuan, and 2.521 billion yuan, with corresponding net profits of about 16.53 million yuan, 85.63 million yuan, and 97.50 million yuan [1]. - In 2023, the company's net profit attributable to shareholders increased significantly by 71.22 million yuan, a growth rate of 547.13%, primarily driven by a gross profit increase of 104.62 million yuan [2]. - The revenue growth in 2023 was led by the conductive materials segment, which saw a revenue surge of 1.536 billion yuan, while silicone materials grew by 88.92 million yuan [2]. Group 3: IPO and Fund Utilization - Beteli plans to raise 792 million yuan through its IPO to invest in projects including the annual production of 500 tons of special conductive materials, expansion of its Dongguan facility, and the establishment of a research and marketing center in Wuxi [3][4]. - The investment projects are closely aligned with the company's core business and aim to enhance technological advantages and industry upgrades, focusing on innovation in electronic materials and chemical new materials [4]. - The special conductive materials project aims to expand into low-temperature photovoltaic slurry production, while the Dongguan expansion will focus on high-end silicone product development [4].