康美特成立于2005年，注册资本约1.2亿元，是一家专注于新材料领域，以高分子新材料研发、生产、 销售、定制服务为主营业务，国家专精特新"小巨人"。 根据申请文件，康美特共有8名核心技术人员，其中总工程师王丽娟女士出生于1940年，今年85岁，其 主要参与电子封装材料的研发。 王丽娟曾任北京科化研发人员，与康美特实际控制人、董事长兼总经理葛世立曾是同事。 瑞财经 严明会 近日，北京康美特科技股份有限公司（以下简称：康美特）北交所IPO披露审核问询回 复，保荐机构广发证券，保荐代表人哈馨、李英杰，会计师事务所为容诚会计师事务所。 北交所要求，说明王丽娟在公司承担的具体职责，是否直接从事技术研发工作，其参与的研发项目及研 发成果，对公司研发及技术方面的贡献，若其无法履职，是否会导致发行人研发项目进展受阻或出现技 术断层。说明研发团队的结构是否合理，公司的研发活动和技术成果是否依赖于个人经验或资源，结合 行业特点，说明高龄核心技术人员在行业内是否存在普遍性。说明与前次申报科创板相比，核心技术人 员的披露是否存在差异及原因。 康美特表示，材料行业专家及核心技术人员中存在很多高龄人员主要由行业特性决定的。A 股材料行业 ...

Core Viewpoint - Beijing Kangmite Technology Co., Ltd. has entered the inquiry stage by the regulatory authority, focusing on customer composition, sales authenticity, high direct material cost ratio, and the necessity of expansion projects and liquidity support [1][6]. Group 1: Company Overview - Kangmite primarily engages in the research, production, and sales of electronic packaging materials and high-performance modified plastics, with key products including electronic adhesives for LED chip packaging and modified polystyrene [2]. - The company reported revenues of 341 million yuan, 384 million yuan, and 423 million yuan for the years 2022, 2023, and 2024 respectively, with net profits of 47.95 million yuan, 45.14 million yuan, and 62.70 million yuan during the same period [4]. Group 2: Financial Performance - For the first quarter of 2025, Kangmite achieved a revenue of 99.74 million yuan, a 26.50% increase year-on-year, and a net profit of 17.31 million yuan, a 69.19% increase year-on-year [5]. - The company’s gross profit margins were reported at 31.08%, 36.18%, and 38.93% over the same period, with a significant impact from raw material price fluctuations [8]. Group 3: Regulatory Focus - The regulatory authority has raised concerns regarding the indirect equity stake of major customers and the authenticity of sales, particularly highlighting the relationship with major clients such as Hongli Zhihui and Ruisheng Optoelectronics [6][9]. - The inquiry also emphasizes the need for Kangmite to provide detailed explanations regarding the sales concentration with Ruisheng Optoelectronics and the reasons for declining sales figures [6]. Group 4: Capital Raising and Project Plans - Kangmite plans to raise 221 million yuan through an IPO, with 155 million yuan allocated for the industrialization project of semiconductor packaging materials [10]. - The company aims to expand its production capacity for organic silicon packaging materials from 780 tons to 1000 tons, and for epoxy packaging materials from 360 tons to 658 tons [10][11].