今天分享的是：2025年莱赛尔纤维应用趋势报告 报告共计：52页 2025年莱赛尔纤维应用趋势：从"小众高端"到"大宗主流"，绿色纤维重塑纺织产业格局 在全球绿色消费浪潮与国内纺织产业升级的双重驱动下，莱赛尔纤维正以"原料可再生、制品可降解、生产低碳环保"的核心优势，从曾经的小众高端纤维， 快速成长为推动纺织产业链变革的关键力量。近日，中国化学纤维工业协会发布的《2025年莱赛尔纤维应用趋势报告》（以下简称"报告"），全面揭示了这 一新型生物基纤维的发展现状与未来方向，其应用已渗透至服装、家纺、无纺布等多个领域，成为行业高质量发展的重要抓手。 从产业规模来看，中国已成为全球莱赛尔纤维发展的核心引擎。报告数据显示，我国莱赛尔产量从2020年的5.4万吨飙升至2024年的42.8万吨，近5年年增长 率高达173%；2024年全球莱赛尔总产能中，中国占比约60%，国内表观需求量也达到45.9万吨，同比增长14.3%。更值得关注的是，随着国产技术持续突 破，莱赛尔生产成本不断下降，2024年6月其价格与粘胶短纤出现历史性交叉，"性价比"优势逐渐凸显，推动其从"差异化选择"向"大宗原料"转型。在棉纺 领域，企业每添加1 ...

Core Viewpoint - The "Shengcheng Invitation: Confucian Businessmen Return Home" investment and economic cooperation exchange meeting was held in Jining, highlighting the region's economic growth and investment opportunities, particularly in advanced manufacturing and green development [1][4][6]. Group 1: Economic Performance - Shandong Province's GDP grew by 5.6% in the first half of the year, surpassing the national average by 0.3 percentage points [4]. - From January to August, industrial output, consumption, and imports/exports increased by 7.8%, 5.7%, and 5.8% respectively, all above the national averages [4]. Group 2: Investment Opportunities - Jining is recognized as a national advanced manufacturing city with 58 Fortune 500 companies investing in the region, establishing multiple national-level industrial bases [6]. - The city is currently focusing on green, low-carbon, and high-quality development, with significant projects like the 116 billion yuan investment by Changcheng Heavy Industry for a new energy machinery production base [12]. Group 3: Cultural and Historical Significance - Jining, known as the birthplace of Confucius, embodies a rich cultural heritage that influences its business environment, promoting values such as integrity and social responsibility [10][14]. - The "Confucian Business Spirit" emphasizes the integration of moral values with economic pursuits, advocating for ethical business practices and social responsibility [14]. Group 4: Key Projects and Collaborations - The meeting included a signing ceremony for key projects, injecting new momentum into Jining's industrial development [18]. - Notable companies like China National Building Material and Shun Cheng Group are among those that signed agreements to invest in Jining [18].

据金鹰集团山东公共事务总经理、亚太森博(山东)浆纸有限公司党委书记李润明介绍,亚太森博自主研发 的护眼纸,与普通纸相比显色更好,还能让孩子眼睛不疲劳。莱赛尔纤维是100%纯木源纤维,有很好的亲 肤性、吸汗性、柔韧性和环保性能,可完全生物降解,被称为"21世纪的绿色纤维"。 将"绿色低碳"融入发展血脉,致力打造中国浆纸行业产业升级、技术进步绿色发展的标杆企业。亚太森 博(山东)浆纸有限公司近年来不断深耕"浆纸纤"一体化发展,通过自主创新与产业链的不断延伸完善,产 业的美丽新图景逐渐显现。 据悉,亚太森博年产50万吨的高档文化纸生产线,去年实现了全线达产。在中国市场上,每3张高端复印纸 里就有一张是亚太森博生产的。除了国内市场,这里的产品已经打开了东亚及中东市场。 记者在此看到,100多米的生产线上,54台烘缸组成10组,每台烘缸重达16.8吨,长度超过11米,这是针对亚太 森博鲜浆造纸特点而专门客制化生产的纸机。在这条生产线上,鲜木浆就地"变纸",成为终端产品,这也成 为亚太森博由"浆"向"纸"延链、补链、强链的重要里程碑。 金鹰集团山东公共事务总经理、亚太森博(山东)浆纸有限公司党委书记李润明介绍道:"以前鲜 ...

Core Viewpoint - Nanjing Chemical Fiber Co., Ltd. has responded to the Shanghai Stock Exchange's inquiry regarding its major asset restructuring, focusing on asset evaluation, income from incoming assets, major customers, suppliers, and gross margin issues [1] Group 1: Asset Disposal - The company has reported continuous negative net profits over the past three years, with impairment losses totaling 32.6 million, 77.3 million, and 26.6 million respectively [2] - The disposed assets were evaluated using the asset-based approach, with a book value of 557.4 million and an assessed value of 729.3 million, primarily due to the appreciation of land use rights in Nanjing Liuhe [2] - Significant impairment provisions were made for inventory, fixed assets, construction in progress, intangible assets, and contract assets, with inventory impairment being particularly notable due to market price fluctuations [2][3] Group 2: Asset Acquisition - The main product of Nanjing Technology is rolling functional components, with stable revenue growth in the CNC machine tool sector attributed to new customer development and enhanced core competitiveness [4] - Revenue from direct sales has decreased while revenue from trading customers has increased, reflecting the company's strategic adjustments to market changes [4][5] - The company maintains stable customer cooperation due to the high customization of its products, with a product lifespan of over 10 years, ensuring sustainable partnerships [4][6] Group 3: Revenue Recognition and Customer Management - The company's revenue recognition policy aligns with accounting standards, confirming revenue when customers obtain control of the goods [5] - The top five customers have a long history of cooperation, with a high proportion of revenue coming from customers with over three years of partnership [6] - Different sales models exhibit varying gross margins, with direct sales targeting the mid-to-high-end market and trading models offering lower margins to encourage market expansion [6][7] Group 4: Procurement and Gross Margin Analysis - The company primarily procures steel and outsourced processing services, with procurement prices reflecting market trends and being determined through fair bidding processes [7] - The gross margin of the main business has slightly declined due to changes in unit selling prices and costs, with some products experiencing price reductions to increase market share [7] - Compared to industry peers, the company's gross margin remains higher due to high product customization, customer structure differences, and varying product value [7][8]

Core Viewpoint - Nanjing Chemical Fiber Co., Ltd. is undergoing a significant asset swap, divesting its original business assets and liabilities while acquiring 100% of Nanjing Process Equipment Manufacturing Co., Ltd., marking a strategic shift towards the development, production, and sales of rolling functional components [1] Group 1: Assets Involved - Nanjing Process Equipment has been the top revenue earner in China's machine tool industry for rolling functional components for the past decade, holding a market share of approximately 6.95% [2] - The primary revenue sources for Nanjing Process Equipment include CNC machine tools, photovoltaic, semiconductor, injection molding, and intelligent manufacturing, with CNC machine tools contributing the largest share [2] - Nanjing Process Equipment possesses significant technological and R&D advantages, having participated in multiple national science and technology projects and holding numerous patents [2] Group 2: Asset Divestiture and Liabilities - As of August 31, 2025, over 95% of non-financial institution debts have received creditor consent, with a remaining debt of 6.9562 million yuan pending approval [3] - The company has commitments to resolve guarantees related to subsidiaries before asset transfer, with banks providing consent for these arrangements [3] - The asset transfer process involves necessary notifications, deliveries, confirmations, and registration changes, with no substantial obstacles anticipated [3] Group 3: Property Issues - The property at No. 329 Mochou Road has discrepancies between registered and actual use, but relevant authorities have approved its current use, with completion of rights registration expected by mid-2026 [4] - Rental income from properties accounts for 5.78% to 6.24% of Nanjing Process Equipment's total revenue, indicating a minor reliance on this income stream [4] Group 4: Financial Performance and Valuation - Nanjing Chemical Fiber has reported negative net profits over the last three years, with significant asset impairment losses anticipated in 2024 due to declining market prices [5] - The profit-sharing arrangement during the transition period allocates 40% to Nanjing Chemical Fiber and 60% to the new group, aiming to protect minority investors' interests [6] - The asset restructuring is expected to enhance Nanjing Chemical Fiber's profitability and sustainability, with future developments being closely monitored by the market [6]

将"绿色低碳"融入发展血脉，致力打造中国浆纸行业产业升级、技术进步绿色发展的标杆企业。亚太森 博（山东）浆纸有限公司近年来不断深耕"浆纸纤"一体化发展，通过自主创新与产业链的不断延伸完 善，产业的美丽新图景逐渐显现。 金鹰集团山东公共事务总经理、亚太森博（山东）浆纸有限公司党委书记李润明表示："我们还会持续 增资，不断拉长产业链，把浆纸纤的拼图，越做越大，越拼越全，为全市经济社会发展作出亚太森博的 积极贡献。" 金鹰集团山东公共事务总经理、亚太森博（山东）浆纸有限公司党委书记李润明介绍道："以前鲜浆要 拉到外地造纸，就像拼图少了一块，产业链总悬着"断点"。现在，鲜浆在厂区内直接"变身"，省去了烘 干、包装、运输、碎解的冗余环节，不仅降低了15%的能耗，更让产业链中下游的布局"紧凑又含 金"。" 当"浆"的根基、"纸"的支撑、"链"的连接、"绿"的守护，在日照严丝合缝拼接，这不是一幅孤立的企业 图景，而是一座城市与企业携手，用20年时间拼出来的高质量发展答卷。从一片木片开始，拼出的不仅 是亚太森博的"新赛道"，更是日照产业升级的"新未来"。（王新宇 杨阳 辛崇娟） 20年来，亚太森博总投资近300亿，其中环保投 ...

粘胶短纤市场展望专家会 20250924 从 2020 年赛得利中国第二条线投产之后，中国近五年没有实质性的新增产能， 主要是行业内部兼并收购、老装置搬迁及原有设备技术升级带来的局部新增产 能。整体上，行业产能呈下降趋势，目前总产能为 486 万吨。行业前三名龙头 企业仍保持 70%以上的市场份额。此外，行业差异化率接近 30%。 尼龙短纤的产量和需求情况如何？ 尽管中国尼龙短纤总产能近年来处于下降趋势，但随着产能利用率提升，尼尔 短纤的产量不仅没有下降，反而明显上升。2023 年首次超过 400 万吨，预计 2024 年和 2025 年将接近 435-440 万吨。从需求方面来看，我们将其分为国 内消费、出口和库存三部分。国内消费主要用于纺织（包括纯纺和混纺）及无 纺布领域，其中纯纺占比接近一半，混纺约 30%，无妨约 16%。出口占比较 行业内企业成本差异显著，赛得利林浆纸一体化，中泰、三友自有绿碱， 新疆企业能源优势，亚美电场优势，使得各企业在行业低谷期具备更强 的生存能力。 粘胶行业已进入反内卷阶段，虽具备提价条件，但下游小单快返模式和 盈利状况不佳制约了提价空间，未来价格弹性主要取决于需求端增长和 ...

Core Viewpoint - Nanjing Chemical Fiber (600889.SH) announced a major asset restructuring plan, which involves divesting its chemical fiber business and acquiring 100% equity of Nanjing Process Equipment Manufacturing Co., thereby shifting its main business focus to the research, production, and sales of rolling functional components [1] Group 1: Asset Disposal and Impairment - The company has recognized impairment losses of 32.6 million yuan, 77.3 million yuan, and 266.2 million yuan for the years 2022 to 2024, respectively, raising questions about potential financial manipulation [2] - The impairment is primarily attributed to price declines in lyocell fibers, viscose staple fibers, and PET structural core materials, leading to signs of impairment in raw materials and finished products [2] - An asset appraisal revealed a book value of 557.4 million yuan and a reassessed value of 729.3 million yuan, with the increase mainly due to land use rights in Nanjing [2] Group 2: Debt Management - Zijin Trust has agreed to a loan of 198.7 million yuan, while remaining debts will be guaranteed by the controlling shareholder, ensuring no substantial obstacles at the time of transaction completion [3] - Historical guarantees provided to subsidiaries will be fully released or waived by creditors before asset transfer [3] Group 3: Asset Acquisition and Valuation - The transaction will transform the company's main business from traditional chemical fibers to rolling functional components, with Nanjing Process Equipment holding a leading market share in China for nine consecutive years [4] - Nanjing Process Equipment is projected to achieve revenues of 3.12 billion yuan and a net profit of 260 million yuan in 2024, with a significant portion of revenue coming from CNC machine tools [4] - The appraisal of Nanjing Process Equipment shows a book net asset of 1.031 billion yuan and a reassessed value of 1.607 billion yuan, indicating a 55.89% increase [4] Group 4: Financing and Regulatory Approval - The company plans to raise up to 500 million yuan through financing, with a share price set at 4.57 yuan, corresponding to 191.7 million shares [5] - The controlling shareholder's stake will decrease from 35.42% to 26.18%, but they will maintain control [5] - Approval from the Jiangsu Provincial State-owned Assets Supervision and Administration Commission has been obtained, but final approval from the Shanghai Stock Exchange and the China Securities Regulatory Commission is still pending [5]

Core Viewpoint - Nanjing Chemical Fiber Co., Ltd. has responded to the Shanghai Stock Exchange's inquiry regarding its major asset swap, issuance of shares, cash payment for asset acquisition, and related party transactions, providing detailed explanations on various aspects including asset evaluation, income, customers, procurement, gross margin, and inventory [1] Group 1: Asset Disposal - The company has reported continuous negative net profits over the past three years, with impairment provisions of 32.60 million yuan, 77.30 million yuan, and 266.22 million yuan for 2022 to 2024 respectively [2] - The disposed assets were evaluated using the asset-based approach, with a book value of 557.38 million yuan and an assessed value of 729.27 million yuan, primarily due to the appreciation of land use rights in Nanjing [2] - The company disclosed specific projects and rationality behind the impairment provisions, indicating that inventory is measured at the lower of cost and net realizable value, and long-term assets are assessed for recoverable amounts when impairment indicators are present [2] Group 2: Asset Acquisition - Nanjing Gongyi, as the main entity of the acquired assets, reported stable main business revenues of 462.72 million yuan and 467.00 million yuan for 2023 and 2024 respectively [3] - Revenue growth was driven by increased sales volume from price reductions and a shift towards high value-added products, with trade customer revenue increasing by 29.11% due to strategic market adjustments [3] - The gross margin for the main business was 34.10% and 32.14% for the reporting periods, slightly declining due to market competition and a greater decrease in unit selling prices compared to unit cost reductions [3] Group 3: Inventory Management - The book value of inventory at the end of 2023 and 2024 was 141.05 million yuan and 170.96 million yuan respectively, with the increase attributed to product stocking strategies [3] - The inventory turnover rate and sales rate are generally good, with a high proportion of inventory aged under one year, and the company has made sufficient provisions for any long-aged inventory [3] - The internal controls for inventory management are robust, and the scale and composition of inventory align with order coverage, production cycles, and business characteristics [3]

Core Viewpoint - Nanjing Chemical Fiber Co., Ltd. is undergoing a significant asset swap, issuing shares, and cash payments for asset purchases, which has raised inquiries from the Shanghai Stock Exchange regarding the valuation and impairment of assets involved in the transaction [1][2]. Group 1: Asset Impairment and Valuation - The company has reported continuous negative net profits over the last three years, with impairment amounts of 32.60 million, 77.30 million, and 266.22 million yuan respectively [2][3]. - The assets being disposed of have a book value of 557.38 million yuan and an assessed value of 729.27 million yuan, with the increase in value primarily attributed to land use rights [2][3]. - Significant impairments were noted for other assets, particularly a 153.62 million yuan impairment for Shanghai Yueke [2][3]. Group 2: Financial Data and Analysis - The total impairment losses for the last three years were 32.60 million yuan in 2022, 77.30 million yuan in 2023, and 266.22 million yuan in 2024, with the main contributors being subsidiaries such as Jinling Biological and Shanghai Yueke [3][4]. - Specific impairment losses for 2024 included 44.90 million yuan for inventory, 176.02 million yuan for fixed assets, and 45.77 million yuan for construction in progress [4][5]. - The company is required to disclose detailed information regarding the impairment projects, amounts, and the rationale behind the impairment assessments [3][4]. Group 3: Independent Review and Compliance - The independent financial advisor, lawyer, accountant, and appraiser are mandated to verify and provide clear opinions on the asset disposal and impairment matters [3][4]. - The company must ensure that the arrangements during the transition period of the disposed assets are favorable for protecting minority investors' interests [3][4].