来源：上海证券报·中国证券网 上证报中国证券网讯 8月27日盘后，江南新材发布的2025年半年报显示，公司持续提高产品品质，积极 开拓市场，持续为下游客户提供多元化、高品质的产品及服务；受益于PCB市场需求增加，上半年，公 司实现营业收入48.21亿元，同比增长17.40%；净利润1.06亿元，同比增长7.38%。 公司主要从事铜基新材料的研发、生产与销售，核心产品包括铜球系列、氧化铜粉系列及高精密铜基散 热片系列三大产品类别。公司自主研发的铜球系列产品已应用于各种类型与工艺的PCB以及光伏电池板 的镀铜制程等领域；氧化铜粉系列产品主要应用于高阶PCB（包括IC载板、HDI、柔性电路板等）镀铜 制程、复合铜箔制造、有机硅单体合成催化剂等领域；高精密铜基散热片系列产品已应用于PCB埋嵌散 热工艺、功率半导体散热、服务器液冷散热等领域。上半年，公司研发投入同比增长56.87%，达 2402.14万元。 公司不断开拓铜基新材料产品的新市场与应用场景，集中资源巩固铜球产品的市场地位，大力发展电子 级氧化铜粉等新兴产品，各主要产品业务持续增长。三大产品线中，上半年，铜球系列产品实现营业收 入37.75亿元，同比增长8. ...

另据中国电子电路行业协会信息，江南新材在第二十三届（2023）中国电子电路行业主要企业榜单的铜基类专用材料榜单排名第一，同时， 在行业规模更大、市场更激烈的铜箔行业，公司收入规模也超过了行业内主要铜箔企业。 江西江南新材料科技股份有限公司 （股票代码： 603124 简称： 江南新材） 计划在上海证券交易所主板发行上市。公开资料显示，江南新 材主要从事电子电路铜基新材料的研发、生产和销售，公司产值和营收规模在PCB用铜球领域位列前茅，是一家典型的隐形冠军企业。 PCB磷铜球龙头，国内市占率超40% 磷铜球是一种电镀材料，下游应用领域主要包括 PCB（印制电路板） 制造、光伏电池板制造、五金电镀等，其中磷铜球的主要功能是在铜电 镀过程中作为阳极材料向镀液中补充铜离子。 成立于2007年的江南新材是全球主要的磷铜球供应商之一，公司业务主要聚焦于PCB制造领域。2021年至2023年，江南新材铜球产量均超10 万吨，应用于 PCB 领域的铜球系列产品 2023 年收入为 55.41亿元，其中境内收入为 52.84 亿元。根据 Prismark 数据，铜球约占PCB 成本的 6%，2023 年国内铜球市场规模约127 ...

Core Viewpoint - The article discusses the upcoming IPOs of five companies in the A-share market, highlighting their business focus, financial performance, and fundraising plans. Group 1: Company Summaries - Jiangnan New Materials focuses on the research, production, and sales of copper-based new materials, with core products including copper ball series, copper oxide powder series, and high-precision copper-based heat sinks. The company aims to enhance its product competitiveness and has established a customer base among leading PCB manufacturers [2][3]. - Xidian Co., Ltd. specializes in semiconductor testing equipment, particularly in probe testing technology. The company has become the largest probe station equipment manufacturer in mainland China, with a growing market share from 13% in 2019 to 25.70% in 2023 [4][5][6]. - New Asia Cable is engaged in the research, production, and sales of electric wires and cables, with a strong brand presence in the industry. The company has seen steady revenue growth and plans to invest in smart manufacturing and marketing network projects [7]. - Victory Nano is a well-known third-party testing laboratory in the semiconductor industry, providing various analysis services. The company has experienced revenue growth and plans to enhance its testing capabilities through new projects [8][9]. - Zhejiang Huayuan focuses on customized automotive system connectors, supplying major automotive manufacturers. The company is expanding its product applications in the electric vehicle sector and has shown consistent revenue growth [10][11][12]. Group 2: Financial Performance - Jiangnan New Materials expects revenues of 62.3 billion, 68.18 billion, and 86.99 billion from 2022 to 2024, with net profits of 1.05 billion, 1.42 billion, and 1.76 billion respectively [3]. - Xidian Co., Ltd. projects revenues of 4.42 billion, 5.46 billion, and 5.08 billion from 2022 to 2024, with net profits of 1.16 billion, 0.89 billion, and 0.93 billion respectively [6]. - New Asia Cable anticipates revenues of 27.63 billion, 30.13 billion, and 28.34 billion from 2022 to 2024, with net profits of 1.1 billion, 1.64 billion, and 1.35 billion respectively [7]. - Victory Nano forecasts revenues of 2.87 billion, 3.94 billion, and 4.15 billion from 2022 to 2024, with net profits of 0.66 billion, 0.99 billion, and 0.82 billion respectively [8]. - Zhejiang Huayuan expects revenues of 4.91 billion, 5.53 billion, and 6.82 billion from 2022 to 2024, with net profits of 0.77 billion, 0.83 billion, and 1.08 billion respectively [11].