（编辑 袁冠琳） 证券日报网讯 奇德新材11月26日在互动平台回答投资者提问时表示，公司当前主营的高性能改性塑料 （如尼龙等）尚未应用于3D打印技术。公司凭借在高分子材料改性领域的深厚技术积累，具备开发3D 打印专用材料的技术潜力。未来公司将密切关注下游技术发展趋势与客户需求，积极推动相关材料的技 术延伸与创新。 ...

站、广东省工程技术研究中心、广东省企业技术中心、广东省创新型试点企业、 广东省知识产权示范企业等研发平台，累计获得授权专利 34 项，参与制定多项行 业标准。此外，公司还通过了 ISO9001、ISO14001、TATF16949、AEO 海关高级认 证体系、GRS4.0 全球再生标准以及 AS 9100D 航空航天管理体系认证，公司产品 通过 FDA、CHCC、RoHS、REACH、EN71 等认证标准。 2、公司三季报业绩经营情况如何？ 证券代码：300995 证券简称：奇德新材 广东奇德新材料股份有限公司 投资者关系活动记录表 编号：2025-119 | ☑ | 特定对象调研 | □分析师会议 | | --- | --- | --- | | 投资者关系 | □媒体采访 | □业绩说明会 | | 活动类别 | □新闻发布会 | □路演活动 | | ☑ | 现场参观 | □电话会议 | | | □其他： | | | 参与单位名 | 路演时代、二进制、中信证券、国泰海通、乐盈投资 | | | 称及人员姓 | 以上排名不分先后 | | | 名 | | | | 时间 | 2025 年 11 月 21 日下午 15 ...

Group 1 - The core viewpoint of the report is that Nanjing Julong (300644.SZ) is rated as "Buy" with a target price of 42.90 yuan, driven by the high potential of the modified plastics industry and its shift towards high-end domestic alternatives [1] - The modified plastics industry is expected to have broad application scenarios in the future, particularly in high-performance modified plastics [1] - Nanjing Julong is actively entering emerging sectors such as robotics, aerospace, and low-altitude economy, indicating a strategy of diversified and collaborative development [1]

Core Insights - The company reported a total revenue of 1.996 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 23.78%, and a net profit of 101 million yuan, which is a 79.46% increase year-on-year [1] Industry Overview - The modified plastics industry is moving towards high-end domestic substitution, with a projected production of 35.46 million tons in 2025. Currently, the focus is on mid-to-low-end products, but there is potential for upgrading to high-performance and multifunctional materials [1] - The upstream market, including synthetic resins like polypropylene and polyethylene, is expected to maintain a weak oscillation pattern in the short term, while the appliance sector currently shows the highest demand, with the automotive industry anticipated to become a primary growth driver in the medium to long term [1] Company Developments - The company focuses on high-performance modified plastics, which is its largest product category, and has been optimizing its product structure to enhance technical added value, resulting in steady growth in revenue and gross margin [1] - The second major product line is thermoplastic elastomers, where the company is accelerating the development of differentiated product lines to break foreign monopolies and achieve import substitution [1] - The subsidiary, 聚隆复材, is concentrating on large-scale manufacturing of carbon fiber composite components and complete drones, having established a one-stop production line for composite structural parts and complete assembly of various aircraft models [1] - The company has also ventured into new emerging sectors such as robotics, aerospace, and low-altitude economy, collaborating with leading clients for material validation and solutions [2] - A new subsidiary, 江苏聚隆纬伦技术有限公司, was established to advance the research and development of smart robots and the application of company materials in the robotics industry [2] - The company launched a new aircraft structure, the V1000 tilt-rotor hybrid aircraft, which integrates "tilt-rotor + hybrid power" technologies, achieving breakthroughs in lightweight, high strength, and fatigue resistance [2] Financial Projections - The company forecasts revenues of 2.82 billion yuan, 3.08 billion yuan, and 3.23 billion yuan for the years 2025, 2026, and 2027, respectively, with net profits of 160 million yuan, 220 million yuan, and 250 million yuan for the same years [2] - The expected earnings per share (EPS) are projected to be 1.41 yuan, 1.95 yuan, and 2.24 yuan, with corresponding price-to-earnings (PE) ratios of 25, 18, and 16 times [2] - Given the company's leading position in high-performance modified plastics and unique advantages in applications within robotics, aerospace, and low-altitude economy, a target price of 42.90 yuan is set for 2026, with a "buy" rating assigned [2]

Core Viewpoint - Guangdong Qide New Materials Co., Ltd. has showcased its strong performance and growth potential in the high-performance materials sector, particularly in carbon fiber products and their applications in emerging industries [1][2][3]. Group 1: Company Overview - Qide New Materials focuses on environmentally friendly, high-performance polymer modified plastics and related products, operating as a high-tech enterprise in the new materials field [1]. - The company's core business includes high-performance modified plastics, precision molds, injection molded products, and carbon fiber products, with a collaborative development approach [1]. - Qide New Materials has established multiple R&D platforms, holds 34 authorized patents, and participates in industry standard formulation [1]. Group 2: Financial Performance - For the first half of 2025, the company reported revenue of 178 million yuan, a year-on-year increase of 13.48%, and a net profit of 8.61 million yuan, reflecting a significant growth of 117.86% [2]. - The overseas business has seen remarkable growth, with revenue from the Thailand factory increasing by 178.64% year-on-year [2]. - The gross margin for carbon fiber products has risen to 42.85%, while revenue from other modified composite materials and products grew by 106.80% [2]. Group 3: Competitive Advantages - Qide New Materials emphasizes its competitive edge in carbon fiber products by focusing on lightweight and high-end applications for the new energy vehicle sector, providing one-stop services to automotive companies [2]. - The company collaborates with clients in the composite materials forming field, developing unique advantages in carbon fiber paint and appearance processes [2]. - In the robotics sector, high-performance polymer composite materials are applicable for robot shells and joints, indicating a broad market potential [2]. Group 4: Future Outlook - The company plans to concentrate on promoting high-performance materials and lightweight solutions, accelerating the adoption of carbon fiber products in emerging fields, and expanding its international market presence [3].

Business Overview - Qide New Materials specializes in high-performance polymer modified plastics and carbon fiber products, focusing on environmentally friendly solutions for various industries, including new energy vehicles and high-end home appliances [2][3] - The company operates production bases in Guangdong, China, and Thailand, enhancing its global delivery capabilities [3] Financial Performance - In the first half of 2025, the company achieved a revenue of CNY 178 million, representing a year-on-year growth of 13.48% [4] - Net profit attributable to shareholders reached CNY 8.607 million, a significant increase of 117.86% compared to the previous year [4] - Overseas revenue surged by 178.64% due to the operational efficiency of the Thailand factory [4] Product Development and Market Position - The gross margin for carbon fiber products improved to 42.85%, with revenue from modified composite materials increasing by 106.80% [4] - The company is actively expanding into high-growth sectors such as new energy vehicles and smart home appliances, with household appliance revenue growing by 105.33% and automotive parts by 29.99% [4] Competitive Advantages - Qide's carbon fiber products offer a one-stop service for automotive manufacturers, focusing on lightweight and high-end applications [5][6] - The company leverages its expertise in polymer modification and precision molding to address industry challenges such as high costs and low production efficiency [5][6] Industry Outlook - The carbon fiber market in China is projected to exceed CNY 25 billion by 2025, with significant growth in automotive manufacturing [8] - In the low-altitude aircraft sector, carbon fiber is expected to dominate due to its weight reduction capabilities, with over 90% of composite materials used in eVTOL aircraft being carbon fiber [8] Future Growth Strategy - The company aims to enhance its competitiveness by focusing on lightweight industries, international expansion, and optimizing talent structure [9][10] - Qide plans to continue investing in R&D and market development to solidify its position as a leading provider of new material solutions [11]

Core Viewpoint - Kangmeite Technology Co., Ltd. is primarily engaged in the research, production, and sales of electronic packaging materials and high-performance modified plastics, with a focus on the LED chip packaging market and other high polymer new materials [1][2]. Group 1: Financial Performance - In the first half of the year, the company reported revenue of 229 million yuan, a year-on-year increase of 15.50%, and a net profit attributable to shareholders of 35.49 million yuan, up 16.74% year-on-year [2]. - The company's non-recurring net profit was 34.61 million yuan, reflecting a year-on-year increase of 13.87% [2]. Group 2: Order Status - As of July 2025, the company's order backlog has decreased compared to the end of 2024, primarily due to a decline in electronic packaging materials orders [3]. - The company noted that the order characteristics in the electronic packaging materials sector include short cycles, high frequency, and low single-order amounts, which results in a smaller order backlog relative to revenue [4]. Group 3: Raw Material Price Impact - The company estimated that a 10% fluctuation in raw material prices would impact the gross margin of its main business by 4.89 percentage points and the total profit by approximately 20.57 million yuan [4]. - A 30% fluctuation would affect the gross margin by 14.68 percentage points and the total profit by about 61.71 million yuan, while a 50% fluctuation would lead to a 24.47 percentage point impact on gross margin and a total profit effect of approximately 103 million yuan [4]. Group 4: Accounts Receivable - The company's accounts receivable balance as a percentage of revenue is consistent with the industry average, around 30% [5]. - The overdue accounts receivable amounts have shown a rising trend, with figures of 55.66 million yuan, 64.20 million yuan, and 82.23 million yuan reported at the end of each respective year [6][7]. Group 5: Customer Payment Trends - The collection ratios for overdue accounts receivable have decreased over the reporting periods, with figures of 79.35%, 72.75%, and 62.18% noted [7]. - The overdue amounts are primarily due to customers' poor business conditions and accounts that have been fully provisioned for bad debts for over three years [8]. Group 6: Shareholder Transactions - The indirect stake acquisition by Hongli Zhihui has raised concerns, with the company clarifying that sales to Hongli Zhihui have remained stable with slight fluctuations, and the sales price has generally decreased [10]. - The company confirmed that there are no special interest arrangements related to the indirect stake acquisition, and the pricing for the investment was consistent with market values [11].

Core Viewpoint - The company, Kangmeite Technology Co., Ltd., is preparing for its IPO on the Beijing Stock Exchange, focusing on electronic packaging materials and high-performance modified plastics, with a notable increase in revenue and profit in the first half of the year despite a decline in order backlog [1][2]. Group 1: Company Overview - Kangmeite primarily engages in the R&D, production, and sales of electronic packaging materials and high-performance modified plastics [1]. - The main product in electronic packaging materials is electronic adhesives for LED chip packaging, applicable in new displays, semiconductor lighting, and aerospace [1]. - High-performance modified plastics include modified expandable polystyrene, used in safety protection, LCD panels, and energy-saving construction [1]. Group 2: Financial Performance - In the first half of the year, the company reported revenue of 229 million yuan, a year-on-year increase of 15.50%, and a net profit of approximately 35.49 million yuan, up 16.74% year-on-year [2]. - The order backlog as of July 2025 has decreased compared to the end of 2024, primarily due to a decline in electronic packaging materials orders [2]. Group 3: Order Characteristics - The company noted that orders in the electronic packaging materials sector are typically short-cycle, high-frequency, and low-value, leading to a smaller order backlog relative to revenue [3]. - Sales in the new display sector are expected to be stronger in the second half of the year, with revenue from this sector projected at 68.44 million yuan in the first half and 85.94 million yuan in the second half of 2024 [3]. Group 4: Raw Material Price Impact - The company calculated that a 10% fluctuation in raw material prices would impact the gross margin by 4.89 percentage points and total profit by approximately 20.57 million yuan [3]. - A 30% fluctuation would affect the gross margin by 14.68 percentage points and total profit by about 61.71 million yuan, while a 50% fluctuation would lead to a 24.47 percentage point change in gross margin and a total profit impact of 103 million yuan [3]. Group 5: Accounts Receivable - The company's accounts receivable balance as a percentage of revenue is consistent with industry averages, around 30% [4]. - The overdue accounts receivable amounts have been increasing, with overdue amounts reported at 55.66 million yuan, 64.20 million yuan, and 82.23 million yuan for the respective years [5][6]. - The collection ratio for overdue accounts has decreased from 79.35% to 62.18% over the reporting periods, indicating a decline in collection efficiency [6]. Group 6: Related Party Transactions - The company addressed concerns regarding indirect shareholding by Hongli Zhihui, stating that sales to this entity have remained stable with a slight downward trend in unit prices, aligning with market conditions [9]. - The sales amount to Hongli Zhihui increased in 2021 due to strong market demand, with the company's revenue from this client reflecting a growth trend consistent with Hongli Zhihui's overall performance [9]. - Kangmeite confirmed that no special agreements exist with Hongli Zhihui beyond standard purchase agreements, ensuring no preferential treatment or unusual arrangements [10].

Company Overview - Jinfa Technology's stock price closed at 15.98 yuan on August 21, down 0.38 yuan, a decrease of 2.32% from the previous trading day [1] - The company specializes in the research, production, and sales of high-performance modified plastics, which are widely used in automotive, home appliances, and electronic equipment sectors [1] - Jinfa Technology is headquartered in Guangdong and is one of the leading enterprises in the domestic modified plastics industry [1] Financial Activities - Recently, Jinfa Technology issued 1 billion yuan in technology innovation bonds in the interbank market [1] - According to the People's Bank of China Guangdong Branch, as of August 18, 12 technology-based enterprises in Guangdong have issued technology innovation bonds, with a total scale of 441.05 billion yuan [1] Market Performance - On August 21, the net outflow of main funds for Jinfa Technology was 352 million yuan, accounting for 0.85% of its circulating market value [1] - Over the past five trading days, the cumulative net outflow of main funds reached 1.719 billion yuan, representing 4.14% of its circulating market value [1]

Group 1 - The stock price of Yinxin Technology closed at 9.36 yuan on August 5, 2025, remaining unchanged from the previous trading day, with an opening price of 9.41 yuan, a high of 9.45 yuan, and a low of 9.15 yuan, with a trading volume of 381,900 hands and a transaction amount of 354 million yuan [1] - Yinxin Technology's main business includes the research, production, and sales of high-performance modified plastics, which are widely used in electronics, automotive, and medical fields [1] - The company is classified in the plastic products industry and is also involved in venture capital and QFII heavy positions [1] Group 2 - Yinxin Technology expects a net profit attributable to shareholders of the listed company for the first half of 2025 to be between 43 million yuan and 48 million yuan, representing a year-on-year increase of 64% to 83% [1] - On August 5, the net outflow of main funds was 38.07 million yuan, with a cumulative net outflow of 57.98 million yuan over the past five days [1]