长江商报消息●长江商报记者 黄聪 伴随着下游客户纷纷海外建厂，华光新材（688379.SH）也计划在泰国建设生产基地。 12月22日晚间，华光新材发布的2025年度以简易程序向特定对象发行股票预案（修订稿）显示，公司本 次募集资金总额为1.99亿元，扣除发行费用后拟将募集资金全部用于"泰国华光钎焊材料生产基地项目 （二期）"项目。 华光新材表示，为寻求新的利润增长点，提升公司综合竞争能力，公司不断加大海外市场的拓展，深度 挖掘海外市场在制冷暖通、电力电气、新能源汽车和电子等领域的需求，加快推进"华开全球"的国际化 战略。 业绩方面，2025年前三季度，华光新材实现营业收入18.26亿元，同比增长33.15%；归母净利润1.58亿 元，同比增长100.79%。 长江商报记者发现，华光新材创立于1995年，公司已创立30年，2025年营业收入有望首次突破20亿元。 泰国项目总投资2.49亿 华光新材是专注于智能、高效、绿色焊接解决方案的国家高新技术企业，一直致力于钎焊技术研发与高 品质钎焊材料制造，历经30年的持续创新和发展，成为国内钎料行业的领军企业。 近年来，东南亚制冷行业蓬勃发展，美的集团、海尔集团、海信集 ...

华光新材 20251217 摘要 华虹新材产品线覆盖中温、低温和高温钎焊材料，市场容量达 500 多亿 人民币，并拓展导电凝胶产品，尤其是银浆产品，总体市场容量约 800 亿人民币。公司拥有 6,400 多个品规的产品，具备定制化设计和柔性化 制造能力。 公司拥有 3,000 多家客户，包括美的、格力等国内外知名品牌，覆盖空 调制冷、电力电器、电子半导体、新能源汽车等领域，这些优质客户对 公司的新产品验证和客户拓展起到了重要作用。 在电力电器行业，华虹新材增长率超 30%，为东方电气、湘电集团等提 供钎焊材料，受益于 AI 产业对底层供电的需求增加，该行业收入占比达 22%。电子半导体行业 2025 年收入大幅提升至 25 亿元，新能源汽车 板块也是重要业务。 公司海外收入从 2020 年的 3,000 多万增长至 2024 年的 1.5 亿， 2025 年预计超 2 亿。目标是海外收入与国内收入各占一半，已在泰国 成立全资子公司，建立 4,500 吨产能的生产基地。 Q&A 华虹新材在钎焊材料领域的主要优势和市场地位是什么？ 华虹新材成立至今已有 30 年，专注于钎焊材料领域，已成为中国该行业的领 军企业， ...

Core Insights - The company reported a significant increase in revenue and net profit for the first half of 2025, driven by demolition income recognition [1] - The second quarter of 2025 showed a decline in net profit, indicating short-term pressure on profitability despite overall revenue growth [2] Financial Performance - In H1 2025, the company achieved revenue of 1.206 billion yuan, up 39.03% year-on-year, and a net profit of 123 million yuan, up 174.02% year-on-year [1] - The Q2 2025 revenue was 620 million yuan, reflecting a year-on-year increase of 22.29%, while net profit decreased by 25.46% to 28 million yuan [1] - The gross margin for H1 2025 was 11.07%, down 3.97 percentage points year-on-year, and for Q2 2025, it was 11.47%, down 6.15 percentage points [2] Business Segments - The company’s core businesses in refrigeration and electrical sectors saw revenue growth of 22.47% and 66.95% respectively in H1 2025 [3] - The electronic and new energy sectors experienced substantial growth, with revenues increasing by 75.92% and 50.01% year-on-year [3] - The company is actively expanding into new products such as electronic connection materials and high-precision soldering materials, which are expected to enhance overall profitability [2] Emerging Opportunities - The company is leveraging opportunities in AI cooling solutions and robotics, with the liquid cooling segment generating nearly 29 million yuan in revenue in H1 2025, accounting for 2.4% of total revenue [3] - The company’s international strategy is yielding results, with overseas revenue increasing by 37.96% year-on-year, covering over 50 countries [3] Future Outlook - Revenue projections for 2025-2027 are 2.512 billion, 3.421 billion, and 4.356 billion yuan, with year-on-year growth rates of 31.0%, 36.2%, and 27.3% respectively [4] - Expected net profits for the same period are 195 million, 190 million, and 244 million yuan, with growth rates of 142.1%, -2.5%, and 28.0% respectively [4]