Core Viewpoint - The capacitor base film market is experiencing growth driven by increasing demand from the electric vehicle and renewable energy sectors, with significant market size projections for 2024 and 2025 in both global and Chinese contexts [1][5][7]. Market Size and Projections - The global capacitor base film market is projected to reach 7 billion yuan in 2024, with specific contributions from the electric vehicle sector (2 billion yuan), renewable energy systems (1.6 billion yuan), and industrial equipment and home appliances (3.4 billion yuan) [1][5]. - By 2025, the global market size is expected to grow to approximately 8.1 billion yuan, with the electric vehicle sector contributing around 2.5 billion yuan, renewable energy systems about 2.1 billion yuan, and industrial equipment and home appliances around 3.5 billion yuan [1][5]. - In China, the capacitor base film market is anticipated to reach 4 billion yuan in 2024, with the electric vehicle and renewable energy sectors each contributing 1.4 billion yuan, and industrial equipment and home appliances contributing 1.2 billion yuan [7]. - The Chinese market is projected to grow to approximately 4.6 billion yuan by 2025, with similar contributions from the electric vehicle and renewable energy sectors [7]. Industry Definition and Role - Capacitor base film is a high-stability electronic material made from biaxially oriented polypropylene, characterized by high insulation, uniform thickness, and low dielectric loss [2][5]. - It serves as the core dielectric material in film capacitors, playing a crucial role in energy storage and maintaining stable insulation under high voltage conditions [2][5]. Industry Development Environment - The capacitor base film industry is supported by various government policies aimed at promoting the development of electronic components, renewable energy, and information industries [11]. Competitive Landscape - The international market for film capacitor base film is dominated by manufacturers from Japan and Europe, with companies like Toray, Wacker Chemie, and Mitsubishi leading in technology and market share [14]. - In China, the market has developed a stable competitive landscape with key players including Tongfeng Electronics, Dazhong Southeast, Longchen Technology, and Haiwei Electronics, among others [14][15]. Industry Trends - The capacitor base film industry is facing opportunities from rapid growth in sectors like renewable energy and AI, but also challenges such as high technical barriers and intensified competition in medium-thick films [4]. - The demand for thinner, higher voltage, and higher temperature-resistant capacitor base films is increasing due to the evolving requirements of downstream applications, particularly in electric vehicles and renewable energy systems [17][19].

作为薄膜电容器的电介质，电容器基膜在决定薄膜电容器的性能和耐用性等方面发挥至关重要的作用。它主要实现两大功能：一是帮助薄膜电容器实现快速 储能；二是确保薄膜电容器稳定运行。目前我国电容器基膜行业已构建高效完整的产业链体系：上游涵盖电工级聚丙烯等原材料，以及牵引机、分切机等生 产设备供应；中游为电容器基膜生产制造环节；下游应用于薄膜电容器，并广泛服务于光伏、风电、新能源汽车、家电、轨道交通、照明及消费电子等终端 领域。 资料来源：观研天下整理 前言： 作为"小而美"赛道，电容器基膜在薄膜电容器行业快速发展的带动下，已步入发展快车道。其市场规模与产量同步快速增长，增速显著高于全球水平，同时 全球市场规模与产量占比持续提升，2024年双双突破50%。随着马太效应显现，行业集中度稳步提升，但头部企业竞争格局尚未稳固，整体仍显胶着。 1.我国电容器基膜行业已构建高效完整的产业链体系 资料来源：观研天下整理 2.电容器基膜行业步入发展快车道，市场规模与产量双升 作为薄膜电容器的核心原材料之一，电容器基膜行业发展与薄膜电容器行业高度相关。近年来，受益于光伏、风电、新能源汽车等产业的蓬勃发展，我国薄 膜电容器行业迎来快速增长 ...

Core Viewpoint - The total number of listed companies in Hengshui has reached 87, with the recent listing of Hebei Haiwei Electronic New Materials Technology Co., Ltd. on the Hong Kong Stock Exchange marking a significant milestone for the city [1]. Group 1: Company Overview - Hebei Haiwei Electronic New Materials Technology Co., Ltd. was founded in 2006 and focuses on the research and production of key materials such as capacitor base films and metallized films in the new energy sector [1]. - The funds raised from the recent listing will be primarily used for the research and development of new thin-film materials and for integrating the supply chain, which will help the company consolidate its leading position in the industry [1]. Group 2: Industry and Market Context - Hengshui has been actively seizing opportunities from capital market reforms, positioning company listings as a key strategy to enhance the "Hengshui brand" [1]. - The city has developed a comprehensive service system for the entire listing process, implementing a tiered cultivation mechanism that includes reserving, mentoring, applying, and listing batches of companies [1]. - Local authorities are coordinating efforts across various departments to provide tailored services for companies, including specialized training and expert consultations to improve entrepreneurs' market awareness and capital operation capabilities [1].

Core Insights - The latest data from the Hong Kong Stock Exchange indicates that on December 2, shareholders of Haiwei Co., Ltd. (09609) transferred shares from HSBC Hong Kong to China International Capital Corporation Hong Kong Securities, with a transfer value of HKD 58.63 million, representing 8.10% of the total shares [1] - Haiwei Co., Ltd. was listed on November 28, with an initial share price of HKD 14.28, issuing a total of 35.46 million shares, resulting in a net proceeds of approximately HKD 452 million [1] - According to Zhi Shi Consulting, Haiwei Co., Ltd. is the second-largest capacitor film manufacturer in China based on the sales volume of capacitor base films for 2024, with a market share of 10.9% in terms of revenue from capacitor base films [1] Company Overview - Haiwei Co., Ltd. specializes in manufacturing capacitor films, which include capacitor base films and metallized films, essential components of film capacitors [1] - The end-use applications of film capacitors are diverse, encompassing electric vehicles, new energy power systems, industrial equipment, and household appliances [1]

Group 1 - The core point of the article highlights that Haiwei Co., Ltd. (09609) has transferred shares worth HKD 58.63 million from HSBC to CICC Hong Kong Securities, representing 8.10% of the total shares [1] - Haiwei Co., Ltd. was listed on November 28, with an initial share price of HKD 14.28, issuing 35.46 million shares and net proceeds of approximately HKD 452 million [1] - According to ZhiShi Consulting, Haiwei Co., Ltd. is the second-largest capacitor film manufacturer in China, with a market share of 10.9% in capacitor base film revenue [1] Group 2 - The company's capacitor film products include capacitor base films and metallized films, which are essential components of film capacitors [1] - Film capacitors have a wide range of end-use applications, including in new energy vehicles, renewable energy power systems, industrial equipment, and household appliances [1]

转自：推广 11月28日，河北海伟电子新材料科技股份有限公司在香港交易所成功上市。这是景县首家在港交所主板 上市的企业，也是"十四五"期间衡水市唯一的港股上市企业，标志着景县企业在对接国际资本市场方面 取得了历史性突破。 河北海伟电子新材料科技股份有限公司电容器基膜生产场景。倪志浩 摄 近年来，在省市党委、政府的领导下，景县紧盯资本市场改革机遇，将企业上市作为打响"区域品牌"的 重要抓手，全力打造上市全周期服务体系，构建"储备一批、辅导一批、申报一批、上市一批"的梯次培 育机制，积极统筹各部门合力，建立"一企一专班"直通式服务，通过上市专题培训、专家现场办公等精 准培育举措，全面提升企业家资本市场认知和资本运作能力，为企业上市清障护航。 下一步，景县将以此为契机，进一步完善企业上市培育机制，推动更多优质企业走入资本市场，为全县 经济高质量发展注入更强劲的动力。（高雷、郑蕊综合整理） 来源：推广 河北海伟电子新材料科技股份有限公司电容器基膜生产场景。倪志浩 摄 河北海伟电子新材料科技股份有限公司位于衡水市景县，创立于2006年，公司深耕新能源核心赛道，专 注于电容器基膜、金属化膜等关键材料的研发与生产。产品广泛 ...

Core Viewpoint - Haiwei Co., Ltd. officially listed on the Hong Kong Stock Exchange on November 28, 2025, marking its entry into the international capital market while simultaneously committing to social responsibility by donating 1 million HKD for disaster relief efforts in Hong Kong [1][3][5] Group 1: Company Overview - Haiwei Co., Ltd. is the only domestic company with independent design and development capabilities for capacitor base film production lines, which has allowed it to build a diversified product system with significant advantages in delivery cycles and investment costs [3] - The company's products are widely used in key sectors such as new energy vehicles, renewable energy power systems, industrial equipment, and household appliances, supporting downstream industry upgrades and attracting strategic investments from well-known companies like BYD and Sungrow [3] Group 2: Social Responsibility - During the listing ceremony, the management expressed deep concern for the victims of the recent fire in Tai Po, Hong Kong, and announced a donation of 1 million HKD specifically for emergency relief and subsequent reconstruction efforts [3][5] - The donation reflects the company's commitment to social responsibility and its intention to integrate into Hong Kong society as it establishes itself in the capital market [3][5] Group 3: Future Plans - The chairman emphasized the importance of social support for the company's development and reiterated the commitment to giving back to society while pursuing growth in the capital market [5] - Moving forward, Haiwei Co., Ltd. plans to use its listing as an opportunity to expand production capacity and focus on innovations in new energy, AIDC, and embodied intelligence, aiming to create substantial returns for investors [5] - The company will adhere to Hong Kong Stock Exchange regulations, optimize corporate governance, and enhance information disclosure while actively participating in public welfare initiatives [5]

Group 1 - Hebei Haiwei Electronic New Materials Technology Co., Ltd. was listed on the Hong Kong Stock Exchange on November 28, with a public offering of 35.456 million shares at a price of 14.28 HKD per share, raising 506 million HKD for capacity expansion, new film material research and development, and industry chain integration [1] - The company is located in Jingxian, Hengshui City, and focuses on the research and production of key materials such as capacitor base films and metallized films, holding 58 patents for its core technology [1] - Haiwei's products are widely used in sectors such as new energy vehicles, photovoltaic energy storage, and industrial equipment [1] Group 2 - In 2023, Hebei Province has actively seized opportunities in the capital market, implementing a plan to promote enterprise listings and organizing events to support companies in entering stock exchanges [3] - With the successful listing of Haiwei, the total number of listed companies in Hebei has reached 122, including 35 companies listed on the Hong Kong Stock Exchange [3]

Core Viewpoint - Hebei Haiwei Electronic Materials Technology Co., Ltd. successfully completed its initial public offering (IPO) and listed on the Hong Kong Stock Exchange, raising approximately HKD 506.3 million at an issue price of HKD 14.28 per share [2] Company Overview - Haiwei Co. was established in 2006 and specializes in the capacitor film industry, primarily producing and selling capacitor base films and metallized films, which are key components of film capacitors [2] - The company has the capability to independently design and develop production lines for capacitor base films [2] - According to Zhi Shi Consulting, Haiwei Co. is the second-largest manufacturer of capacitor films in China based on sales volume in 2024 [2] Legal Advisory - Zhong Lun Law Firm served as the issuer's legal advisor for the IPO, providing comprehensive legal services throughout the listing and H-share circulation process, receiving high recognition from clients and stakeholders [2] - The project was led by partners Li Jieli and Liu Tao, with contributions from other legal professionals [2]

Core Viewpoint - Hebei Haiwei Electronic Materials Technology Co., Ltd. (Haiwei) has listed on the Hong Kong Stock Exchange, opening at HKD 13.50, below the issue price, and closing at HKD 11.00, a decline of 22.97% [1] Group 1: Company Overview - Haiwei is the second-largest capacitor film manufacturer in China based on projected sales volume for 2024 [1] - The company issued a total of 35,456,000 shares, with 3,545,600 shares allocated for public offering in Hong Kong and 31,910,400 shares for international offering [1][2] Group 2: Financial Details - The issue price was set at HKD 14.28, raising a total of HKD 506.31 million, with a net amount of HKD 451.76 million after deducting estimated listing expenses of HKD 54.55 million [2][3] - Haiwei plans to use the proceeds from the global offering to expand production capacity, enhance research and development capabilities, and for general corporate purposes [3] Group 3: Key Investors - The cornerstone investor, Huixing Lihai Co., Ltd., received 15,129,000 shares, accounting for 42.67% of the total shares offered and 9.51% of the total issued share capital post-global offering [5][6] Group 4: Financial Performance - Revenue for Haiwei in 2022, 2023, and projected for 2024 is RMB 327.1 million, RMB 329.5 million, and RMB 421.7 million respectively, with net profits of RMB 102.0 million, RMB 69.8 million, and RMB 86.4 million [6][7] - Cash flows from operating activities showed net cash inflows of RMB 232.1 million in 2022 and RMB 17.2 million in 2024, while 2023 and the first five months of 2025 reported net cash outflows of RMB 89.4 million and RMB 35.8 million respectively [8]