这几位有在民企进行技术攻关背景的院士当选，可不是偶然。我们看啊， 这些新院士有个共 同点：既是顶尖科学家，又是能把技术变成产品的"实干家"。他们当选院士，体现了国家政策 对民营企业在新质生产力发展中贡献的认可 。 那么，这么几位民企科学家当选院士，释放了什么信号？ 首先，民营企业在突破关键核心技 术和推动科技产业化这方面，可是重要角色！ 有统计数据显示，民营企业贡献了全社会70% 的技术创新成果，涵盖了80%的国家专精特新"小巨人"。从发展趋势看，未来民营企业还会贡 献更多的技术创新成果。 3位民营企业科学家入选中国工程院院士，这是啥信号？——就在11月21号，2025年中国科学 院、中国工程院院士增选结果公布了！这次增选大家都很关注的，是在144位新院士里，除了 高校和科研院所的专家，还出现了一批"企业家院士"：有上市公司的技术大拿，有产业一线的 技术领军人物。其实过去几年，已经有几位来自企业的科学家进入过院士队伍，而今年民企专 家入选人数创下了历史记录。这说明什么？中国的科技创新，正从高校实验室为主逐步向市场 配置资源转变，变得越来越务实，越来越贴近应用的一线。 其中，廉玉波的当选很有代表意义，他是比亚迪 ...

3位民营企业科学家入选中国工程院院士，这是啥信号？——就在11月21号，2025年中国科学院、中国 工程院院士增选结果公布了！这次增选大家都很关注的，是在144位新院士里，除了高校和科研院所的 专家，还出现了一批"企业家院士"：有上市公司的技术大拿，有产业一线的技术领军人物。其实过去几 年，已经有几位来自企业的科学家进入过院士队伍，而今年民企专家入选人数创下了历史记录。这说明 什么？中国的科技创新，正从高校实验室为主逐步向市场配置资源转变，变得越来越务实，越来越贴近 应用的一线。 其中，廉玉波的当选很有代表意义，他是比亚迪的首席科学家，也是中国新能源汽车领域技术变革的代 表性人物。我们耳熟能详的刀片电池、DM混动技术、CTB电池车身一体化等颠覆性技术，都是他带队 捞起的"大鱼"。正是这些技术，构建了比亚迪的技术护城河。 这几位有在民企进行技术攻关背景的院士当选，可不是偶然。我们看啊，这些新院士有个共同点：既是 顶尖科学家，又是能把技术变成产品的"实干家"。他们当选院士，体现了国家政策对民营企业在新质生 产力发展中贡献的认可。 那么，这么几位民企科学家当选院士，释放了什么信号？首先，民营企业在突破关键核心技术和 ...

21世纪经济报道记者 凌晨 报道 2025年11月21日，两院院士增选结果如期揭晓。 144张院士新面孔中，除传统高校及科研院所学者外，一批来自产业一线的企业家、上市公司高管和首 席科学家格外引人注目。 本次增选后，中国科学院院士平均年龄57.2岁，60岁以下的占67.1%。院士构成正从高校科研院所向产 业界延伸，这些"企业家院士"的背后，是比亚迪、中国商飞、中核集团等一批资本市场与产业龙头。 产业界技术领头人的集中入选，折射出中国科技创新体系的深层变革。 廉玉波的当选颇具象征意义。作为比亚迪首席科学家，他是中国电动汽车领域的代表人物。 从刀片电池到CTB技术，廉玉波带领团队攻克了一系列关键技术难题，助力我国新能源电动车实现全球 销量领先。 据财报数据，2025年前三季度比亚迪的研发费用为437.48亿元，同比增长31.3%，占同期营业收入 7.7%。 廉玉波的院士身份，为企业技术创新能力提供了最给力的背书。 在航空航天领域，中国商用飞机有限责任公司工程总师、C909（原ARJ21）飞机系列总设计师陈勇入 选。 陈勇主持的C909项目，是中国一大型客机项目，标志着中国商用飞机产业从单一系列向多系列发展， 展现 ...

Group 1 - The core viewpoint of the articles highlights Hengli Petrochemical's strong performance and strategic initiatives during the "14th Five-Year Plan" period, focusing on refining integration, new material R&D, and green transformation, which solidify its global industry leadership [2] - Hengli Petrochemical has established a vertically integrated industrial layout based on "oil-coal chemical" and "silk film plastic," achieving advanced capacities of 20 million tons in refining and 1.5 million tons in ethylene, breaking the overseas raw material supply constraints [2] - The company has launched key projects such as 800,000 tons of functional polyester film and 450,000 tons of biodegradable plastics, enhancing its presence in new energy and new consumption sectors, and promoting domestic petrochemical capacity improvement and domestic material substitution [2] Group 2 - Hengli Petrochemical has made significant progress in green low-carbon and intelligent transformation, utilizing advanced low-carbon technologies in its garden-style industrial parks, achieving global leading levels in product energy consumption and carbon emission intensity [2] - The company is investing heavily in environmental facilities to achieve ultra-low emissions of "three wastes," integrating green principles into product design and extending them to the consumer end [2] - As a benchmark for high cash dividend distribution, Hengli Petrochemical has returned a total of 26.1 billion yuan to investors since its restructuring and listing in 2016, accounting for 40.43% of the net profit attributable to shareholders during the same period, significantly exceeding the fundraising scale [2] Group 3 - Looking ahead to the "15th Five-Year Plan," Hengli Petrochemical aims to further focus on "high-end, green, and intelligent" directions, accelerating the R&D and industrialization of new energy materials and bio-based materials, and overcoming more "bottleneck" technologies [3] - The company plans to deepen its "dual carbon" actions, expand the application of green electricity and green hydrogen, and promote CCUS technology demonstrations [3] - By leveraging AI and industrial internet technologies, Hengli Petrochemical intends to build a "digital twin factory," establishing a benchmark for intelligent manufacturing and creating a globally leading new materials industry cluster to support China's transition from a "petrochemical giant" to a "petrochemical powerhouse" [3]

Core Viewpoint - The article emphasizes the significant growth and opportunities in the chemical new materials industry, highlighting the success of Kingfa Technology as a leading player in this sector, driven by innovation and strategic positioning [3][4]. Group 1: Company Performance - In the first three quarters of 2025, Kingfa Technology achieved a revenue of 49.616 billion yuan, a year-on-year increase of 22.62%, and a net profit attributable to shareholders of 1.065 billion yuan, up 55.86% compared to the previous year [5][13]. - For the third quarter alone, the company reported a revenue of 17.98 billion yuan and a net profit of 479 million yuan, marking year-on-year growth rates of 58.04% and 41.49%, respectively [7][13]. - Despite a challenging macroeconomic environment, Kingfa Technology's performance indicates a strong recovery and benefits from the industry's rebound [5][13]. Group 2: Market Trends - The global chemical new materials market is projected to reach approximately 3.2 trillion yuan in 2024 and is expected to grow to 4 trillion yuan by 2027, with China anticipated to become the largest market for chemical new materials [12]. - China's chemical new materials market is forecasted to grow from 1.3 trillion yuan in 2024 to 1.8 trillion yuan by 2027, with a compound annual growth rate of about 11.5% [12]. Group 3: Product and Sales Performance - Modified plastics remain the primary revenue source for Kingfa Technology, contributing 25.604 billion yuan, which accounts for 52% of total revenue, with a year-on-year growth of 14.39% [14]. - The company sold 2.0908 million tons of modified plastics in the first three quarters, reflecting an 18.16% increase year-on-year [14]. - Sales in high-growth sectors such as automotive, home appliances, and consumer electronics have seen significant increases, with automotive materials sales reaching 560,300 tons, up 21.54% year-on-year [15][16]. Group 4: Cost and Profitability - Despite a 7.05% decline in the average selling price of modified plastics in the third quarter, the company's profitability improved due to a larger drop in raw material prices, which fell by 11.18% [18][20]. - The gross profit margin for the first three quarters reached 11.98%, an increase of 0.67 percentage points compared to the previous year, while the net profit margin also improved by 0.67 percentage points [23]. Group 5: R&D and New Materials - Kingfa Technology is actively exploring new materials and technologies, focusing on biodegradable plastics, specialty engineering plastics, and high-performance carbon fibers, which are applicable in various emerging fields [24][26]. - The company reported a 22.36% year-on-year increase in new materials sales, with significant growth in biodegradable plastics and specialty engineering plastics [25][26]. - Continuous investment in R&D has enabled Kingfa Technology to overcome technical challenges and expand into new markets, particularly in AI servers and renewable energy sectors [27][26].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][10][16] Core Views - The modified plastics business is steadily expanding, leading to significant year-on-year growth in the company's performance for the first three quarters of 2025 [6][9] - The company achieved a revenue of 49.616 billion yuan, a year-on-year increase of 22.62%, and a net profit attributable to shareholders of 1.065 billion yuan, a year-on-year increase of 55.86% [4][6] - The company is focusing on innovation and expanding its overseas market presence, aiming for overseas revenue to exceed 30% in the future [9][10] Financial Performance Summary - For the first three quarters of 2025, the company reported: - Revenue: 49.616 billion yuan, up 22.62% year-on-year - Net profit: 1.065 billion yuan, up 55.86% year-on-year - Gross margin: 11.98%, down 0.24 percentage points year-on-year - Net margin: 1.28%, up 0.49 percentage points year-on-year - Return on equity: 5.57%, up 1.53 percentage points year-on-year [4][6][10] - In Q3 2025, the company achieved: - Revenue: 17.980 billion yuan, up 5.04% year-on-year and 12.58% quarter-on-quarter - Net profit: 479 million yuan, up 58.04% year-on-year and 41.49% quarter-on-quarter - Sales gross margin: 11.44%, up 0.65 percentage points year-on-year [5][7] Business Segment Performance - The modified plastics segment saw significant growth, with Q3 revenue of 9.131 billion yuan, a quarter-on-quarter increase of 3.1%, and sales volume of 781,000 tons, up 11.0% quarter-on-quarter [7][9] - The green petrochemical products segment reported Q3 revenue of 3.129 billion yuan, up 17.1% quarter-on-quarter, with sales volume of 461,000 tons, up 22.0% quarter-on-quarter [7][9] - The new materials segment achieved Q3 revenue of 1.078 billion yuan, with a slight decrease in sales volume and average price [7][9] Future Outlook - The company forecasts revenues of 64.609 billion yuan, 73.728 billion yuan, and 82.841 billion yuan for 2025, 2026, and 2027 respectively, with net profits of 1.504 billion yuan, 1.861 billion yuan, and 2.372 billion yuan [10][11] - The company is expected to maintain a leading position in the modified plastics industry, with continuous growth in sales of modified and specialty engineering plastics [10][11]

Investment Rating - The report maintains an "Overweight" rating for the company [5] Core Insights - The company reported Q3 revenue of 17.98 billion RMB, a year-over-year increase of 5.04% and a quarter-over-quarter increase of 12.58%. The net profit attributable to shareholders was 479 million RMB, reflecting a year-over-year increase of 58.04% and a quarter-over-quarter increase of 41.49% [1][5] - For the first three quarters of 2025, the company achieved a revenue of 49.616 billion RMB, up 22.62% year-over-year, and a net profit of 1.065 billion RMB, up 55.86% year-over-year [1][5] - The Q3 net profit exceeded expectations primarily due to reduced losses in the petrochemical segment. The company is optimistic about the modified plastics and new materials segments, leading to an upward revision of the 2025 net profit forecast [1][3] Summary by Sections Q3 Performance - In Q3, the modified plastics, green petrochemicals, and new materials segments achieved sales volumes of 780,000 tons, 460,000 tons, and 70,000 tons, respectively, with year-over-year changes of +16%, -3%, and +9%. Corresponding revenues were 9.1 billion RMB, 3.1 billion RMB, and 1.1 billion RMB, with year-over-year changes of +8%, -12%, and +11% [2] - The overall gross margin for Q3 was 11.4%, an increase of 0.7 percentage points year-over-year, aided by revenue growth and a decrease in the expense ratio [2] Future Outlook - The company is actively developing new energy materials for solid-state batteries and has achieved industrial application of composite material solutions in core components of power battery PACK systems. This forward-looking approach is expected to open new growth avenues [3] - The net profit forecast for 2025 has been raised to 1.53 billion RMB, reflecting an 8% increase from the previous estimate. The projected net profit growth rates for 2025-2027 are +85%, +23%, and +23%, respectively [3][9] Valuation - The target price for the company is set at 23.43 RMB, based on a 33x PE ratio for 2026, reflecting the growth potential in emerging sectors and the special engineering plastics segment [3][5]

证券代码：600143 证券简称：金发科技 公告编号：2025-087 金发科技股份有限公司 2025 年第三季度主要经营数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 根据上海证券交易所《上海证券交易所上市公司自律监管指引第3号——行 业信息披露》有关规定和披露要求，金发科技股份有限公司（以下简称"公司"） 将2025年第三季度主要经营数据披露如下： 一、主要产品的产量、销量及收入实现情况 | 主要产品 | 年 产量（2025 | 月、万 7-9 | 年 销量（2025 | 月、万 7-9 | 营业收入（2025 | 年 7-9 | | --- | --- | --- | --- | --- | --- | --- | | | 吨） | | | 吨） | 月、万元） | | | 改性塑料产品 | | 82.14 | | 78.20 | | 913,050.01 | | 绿色石化产品 | | 53.18 | | 46.11 | | 312,908.97 | | 新材料产品 | | 4.67 | | 7.23 | | ...

Core Insights - The 2025 Biomanufacturing Industry Conference was held in Guangzhou, focusing on the theme "Gathering Synthesis, Creating Intelligent Opportunities" [1] - The conference aimed to explore technological breakthroughs, industry integration, and policy support in the biomanufacturing sector [1] Industry Development - Guangdong has formed an industrial cluster centered around Guangzhou and Shenzhen, with collaboration from Zhuhai and Foshan [1] - Significant breakthroughs have been achieved in synthetic biology and genetic technology [1] - Key enterprises with independent innovation capabilities and intellectual property, such as BGI and HeXin Instruments, have emerged in the fields of enzyme preparations and core strains [1] Market Applications - High-value products like biodegradable plastics and fungal protein are entering the market in the fields of food, biomedicine, and biomaterials [1]

Core Viewpoint - The company, Jinfat Technology (600143.SH), is recognized as one of the most comprehensive enterprises in the chemical new materials industry, offering a wide range of products [1] Product Range - The company's product offerings include modified plastics, environmentally friendly high-performance recycled plastics, biodegradable plastics, special engineering plastics, carbon fiber and composite materials, light hydrocarbons and hydrogen energy, polypropylene resin, styrene-based resins, and medical health polymers [1] - The company has not yet ventured into EX resins [1]