分红方面，争光股份A股上市后累计派现1.01亿元。近三年，累计派现8539.17万元。 责任编辑：小浪快报 9月19日，争光股份涨0.50%，成交额4173.44万元。两融数据显示，当日争光股份获融资买入额381.41 万元，融资偿还467.28万元，融资净买入-85.86万元。截至9月19日，争光股份融资融券余额合计 7204.39万元。 资料显示，浙江争光实业股份有限公司位于浙江省杭州市临平区南苑街道世纪大道1号美亚大厦16楼， 成立日期1996年2月9日，上市日期2021年11月2日，公司主营业务涉及离子交换与吸附树脂的研发、生 产及销售。主营业务收入构成为：离子交换与吸附树脂产品99.89%，其他0.11%。 截至9月10日，争光股份股东户数9920.00，较上期减少1.28%；人均流通股6117股，较上期增加1.30%。 2025年1月-6月，争光股份实现营业收入3.27亿元，同比增长22.37%；归母净利润5338.02万元，同比增 长1.48%。 融资方面，争光股份当日融资买入381.41万元。当前融资余额7204.39万元，占流通市值的1.77%，融资 余额超过近一年70%分位水平，处于较高位 ...

Core Insights - Zhejiang Zhengguang Industrial Co., Ltd. (referred to as "Zhengguang Co."), reported a revenue of 327 million yuan for the first half of 2025, representing a year-on-year increase of 22.37%, with a net profit attributable to shareholders of 53.38 million yuan, up 1.48% year-on-year [1] Company Overview - Zhengguang Co. is a leading domestic enterprise capable of large-scale production of ion exchange and adsorption resins, effectively replacing some imported products [1] - The main products of Zhengguang Co. include ion exchange and adsorption resins, with over 400 models across more than 20 series, widely used in various sectors such as industrial water treatment, food and drinking water, nuclear industry, electronics, new energy, biomedicine, environmental protection, and hydrometallurgy [1] Market and Technology Development - The market for ion exchange and adsorption resins is rapidly evolving, with increasing applications across various industries due to the stable functionality and high separation purity of resin products [1] - Zhengguang Co. has developed a comprehensive independent intellectual property system and industrialization capability, expanding its product range from ordinary industrial water to high-end applications in various fields [2] - The company holds 22 patents as of June 30, including 14 invention patents and 8 utility model patents, and has established research and development centers in collaboration with several universities [2]

Financial Performance - The company achieved an operating income of 57,183.90 million yuan in 2024, an increase of 8.67% compared to the previous year [4] - The net profit attributable to shareholders decreased by 5.33% to 10,299.55 million yuan [4] - The net profit after deducting non-recurring gains and losses fell by 5.72% to 8,770.55 million yuan [4] Project Development - The Jingmen project is expected to start trial production by the end of 2025 and reach operational status by the end of April 2026 [2] - The company is enhancing its sales force and market preparation for the Jingmen project [2] Industry Outlook - The demand for ion exchange and adsorption resins is increasing due to their applications in various sectors, including high-end industrial water, food and drinking water, nuclear industry, electronics, biomedicine, environmental protection, and new energy [3] - The company aims to become an "international first-class manufacturer of ion exchange and adsorption resins" by focusing on market demand, customer service, and technological innovation [5] Market Strategy - The company plans to strengthen its market layout and expand into high-margin product areas, including life sciences, semiconductors, and nuclear-grade resins [5] - The company is committed to maintaining product quality and optimizing product structure to address international competition and price wars [5] Research and Development - As of December 31, 2024, the company holds 22 patents, including 14 invention patents and 8 utility model patents [10] - The company is focusing on developing high-value-added products in the biomedicine sector, including immobilized enzyme carriers and solid-phase synthesis carriers [7] Customer Base - The company's products are sold not only in the domestic market but also in countries such as Germany, Switzerland, Russia, Italy, South Korea, the United States, and various regions in Africa [9] - Major clients include well-known companies like BRITA, Mitsubishi Chemical, Aquis, and China National Nuclear Corporation [11] ESG and Social Responsibility - The company emphasizes ESG development and aims to integrate sustainable development concepts into daily operations [12] - In 2024, the company participated in charitable activities and plans to continue its focus on social responsibility [12] Investor Relations - The company prioritizes communication with investors through various channels, ensuring transparency and timely information disclosure [13]

Core Viewpoint - The company has established a strong position in the ion exchange and adsorption resin industry, focusing on technological advancements and market expansion to become a global leader in adsorption separation materials. Group 1: Company Overview - The company was founded in 1996 and has nearly 30 years of experience in the ion exchange and adsorption resin sector, integrating R&D, production, and sales [2] - It currently has 6 subsidiaries and 3 main production bases, maintaining a leading position in the domestic market and participating in drafting national and industry standards [2] - The company is recognized internationally as a member of the Water Quality Association (WQA), enhancing its technical strength and brand influence [2] Group 2: Production Capacity and Future Projects - The company has a designed production capacity of 19,750 tons for ion exchange and adsorption resins, 2,300 tons for macroporous adsorption resins, and 15,000 tons for food-grade treatment resins [3] - A new functional polymer material project is being developed in Jingmen, Hubei, with a total investment of 1 billion RMB, aiming for a total production capacity of 54,880 tons per year [3] - The first phase of this project is expected to produce 39,000 tons per year and is projected to commence production in the second half of 2025, which will further enhance the company's market position [3] Group 3: Market Trends and Competitive Advantages - The electronic-grade polishing resin market in China has grown from 2.7 billion RMB in 2018 to 4.5 billion RMB in 2023, with a compound annual growth rate (CAGR) of approximately 10.5%, expected to reach 6 billion RMB by 2025 [4] - The company is actively promoting domestic substitution in high-end fields such as semiconductors within the electronic-grade polishing resin sector [4] - The global nuclear-grade resin market was approximately 12.9 million USD in 2023, projected to grow to 16.4 million USD by 2030, with a CAGR of 3.49% [4] - The company holds a significant competitive advantage in the nuclear-grade resin field, being the first domestic enterprise to obtain access qualifications in the nuclear power sector [4]

Investment Rating - The report gives a "Buy" rating for the company [4]. Core Viewpoints - The company has been deeply engaged in the ion exchange and adsorption resin industry for nearly 30 years, leading technological advancements and industry development [1][16]. - The company is set to expand its production capacity significantly with the upcoming launch of the Jingmen project, which will enhance its competitive advantage in the market [2][24]. - The company is well-positioned to drive domestic substitution in various high-end sectors, including electronics and nuclear industries, due to its competitive advantages [3][4]. Summary by Relevant Sections Company Overview - The company, Zhejiang Zhangguang Industrial Co., Ltd., was established in 1996 and has developed a comprehensive layout integrating R&D, production, and sales in the ion exchange and adsorption resin field [1][16]. - It has six subsidiaries and three main production bases, maintaining a leading position in the domestic market and participating in drafting multiple national and industry standards [1][18]. Production Capacity and Expansion - The company currently has a designed production capacity of 19,750 tons for ion exchange and adsorption resins, 2,300 tons for macroporous adsorption resins, and 15,000 tons for food-grade resins [2][24]. - The Jingmen project, with a total investment of 1 billion RMB, is expected to produce 54,880 tons per year, with the first phase set to launch in the second half of 2025 [2][24]. Market and Competitive Landscape - The ion exchange resin market in China has grown from 2.7 billion RMB in 2018 to 4.5 billion RMB in 2023, with a compound annual growth rate (CAGR) of approximately 10.5% [3]. - The company has a diverse product matrix, including over 400 types of ion exchange resins and various adsorption resins, catering to multiple industries such as industrial water treatment, food and beverage, nuclear, and electronics [23][25]. Financial Performance and Forecast - The company’s revenue is projected to grow from 572 million RMB in 2024 to 1.196 billion RMB in 2027, with net profits expected to increase from 103 million RMB in 2024 to 265 million RMB in 2027 [5][4]. - The report anticipates a steady growth trajectory, supported by the new production capacity and ongoing domestic substitution efforts [4][28]. R&D and Innovation - The company emphasizes R&D, with a focus on differentiated functional products, and has invested significantly in innovation, holding 22 patents [36][28]. - It has been recognized as a national high-tech enterprise and continues to enhance its technological capabilities [36][28].

Core Viewpoint - The company, Zhangguang Co., Ltd. (301029), reported a revenue of 572 million yuan for 2024, marking an 8.67% year-on-year increase, with significant growth in sectors such as hydrometallurgy, biomedicine, and nuclear industry products [1][2][3] Financial Performance - The total assets of the company reached 2.21 billion yuan, an increase of 8.38% year-on-year, while net assets grew by 3.66% to 1.89 billion yuan [1] - The company plans to distribute a cash dividend of 2.60 yuan per 10 shares, totaling 34.74 million yuan [1] Market Position and Growth - Zhangguang Co., Ltd. is a leading enterprise in the domestic ion exchange and adsorption resin market, achieving a capacity utilization rate of 113.48% in 2024 [2] - Revenue from industrial water treatment and food/drinking water sectors reached 170 million yuan and 175 million yuan, accounting for 29.69% and 30.65% of total revenue, respectively [2][3] Product Development and Innovation - The company has focused on optimizing its product structure based on market demand, resulting in significant sales growth in high-margin sectors: hydrometallurgy (70.33%), biomedicine (49.37%), and nuclear industry products (45.88%) [3][4] - Research and development investment reached 29.8 million yuan, representing 5.21% of revenue, with 84 R&D personnel [5] Strategic Collaborations and Achievements - The company collaborates with universities and research centers to enhance product development and has been recognized as a key high-tech enterprise under the National Torch Program [6] - Zhangguang Co., Ltd. has established a broad customer base, serving over 10,000 clients globally, including major international and domestic companies [4][6] Future Outlook - The company aims to become an internationally leading manufacturer of ion exchange and adsorption resins, focusing on technology innovation and brand development [8]