4月28日晚间，锦富技术（300128）发布2025年一季报，公司一季度实现营业收入4.51亿元，同比增长 16.5%。 锦富技术主要从事电子产品精密部件、液晶显示模组(LCM和BLU)、智能检测及自动化装备的研发、加 工制造、销售与技术服务，产品广泛应用于消费电子、汽车、医疗、新能源等多个产业领域。近年来， 公司积极推进业务向高技术、高附加值的产业转型，在热管理材料、精细化工材料等领域取得显著进 展。 在热管理材料方面，锦富技术石墨烯电热膜产品已经进入吉利、上汽、比亚迪（002594）、通用、小米 等头部客户供应链，为新能源汽车提供座椅及座舱加热解决方案；公司自主研发的低电导率冷却剂超级 浓缩液已在国内某新能源头部车企完成路试验证，性能优异，该产品能够有效提升新能源汽车冷却系统 的安全性和能效。 除适配新能源汽车外，锦富技术针对数据中心及储能电池领域的冷却液产品也在市场推广中；此外，公 司气凝胶材料作为宁德时代（300750）动力电池隔热方案的主要供应商产品，已批量应用，并延伸至航 空航天等领域。 随着消费者对电子产品性能要求的提升和新能源汽车产业的快速发展，市场对高效、可靠的热管理材料 需求日益旺盛。根据 ...

Core Viewpoint - Jinfu Technology (300128.SZ) reported a revenue of 451 million yuan in Q1 2025, marking a 16.5% year-on-year growth, driven by its strategic shift towards high-tech and high-value-added industries, particularly in thermal management and fine chemical materials [1] Group 1: New Material Business Development - The company has made significant progress in thermal management materials, with graphene electric heating film products entering the supply chains of major clients like Geely, SAIC, BYD, General Motors, and Xiaomi, providing heating solutions for electric vehicles [2] - Jinfu Technology's self-developed low-conductivity cooling agent has completed road tests with a leading domestic new energy vehicle manufacturer, demonstrating excellent performance and enhancing the safety and efficiency of cooling systems in electric vehicles [2] - The company is also promoting aerogel materials as a key supplier for battery thermal insulation solutions, with applications extending to aerospace [2] Group 2: Fine Chemical Materials - Jinfu Technology's one-ton battery fluorine-free binder project has achieved initial production capacity at the kiloton level, with positive feedback from over 20 domestic battery manufacturers [3] - The fluorine-free binder is a critical material for battery anodes, and the company's products have shown industry-leading performance metrics in tests conducted by a major domestic lithium battery client [3] - The rapid expansion of the global new energy vehicle and energy storage markets presents significant market potential for this business segment [3] Group 3: Dual-Drive Strategy - The management has implemented a "Consumer Electronics + New Energy" dual-drive strategy, focusing on the consumer electronics market while expanding applications of graphene thermal materials [4] - The growth in the new energy vehicle sector, supported by national policies promoting equipment upgrades and trade-in programs, provides strong momentum for product volume increases [4] - Jinfu Technology aims to leverage domestic substitution opportunities arising from global supply chain adjustments, enhancing its competitive advantage through independent research and development and industry-academia collaboration [4]