（文章来源：证券日报） 证券日报网1月28日讯 ，中仑新材在接受调研者提问时表示，公司投资的BOPP膜材定位为薄型膜材， 产品包括电容膜和电芯膜，下游应用领域为超薄型基膜用于薄膜电容器和电池电极复合集流体的生产制 造。公司的BOPP新能源膜材具有自愈性强、绝缘阻抗高、介质损耗小、介电强度高、耐压耐高温耐击 穿、使用寿命长等优点；技术上需满足高精度厚度控制与严格的电气性能指标。BOPP新能源膜材料行 业存在较高准入壁垒，主要体现在工艺及材料配方技术层面，厂商的拉伸工艺成熟度、材料配方的独特 性直接影响产品特殊性能的实现，核心技术储备构成关键竞争壁垒。 ...

Group 1: Company Expansion and Market Strategy - The company is expanding its production capacity in Indonesia to address the growing demand for BOPA films across various sectors, including food, pharmaceuticals, and lithium batteries, as current production is at high utilization rates [1][2] - The establishment of the Indonesian project will enhance the company's overseas production capabilities, allowing better service to Southeast Asia and further penetration into European and North American markets, thereby solidifying its industry leadership [1][2] - The complex global trade environment necessitates this expansion to mitigate supply chain risks, with Indonesia's strategic location and favorable tariff policies providing a competitive advantage [2] Group 2: BOPP Film Production and Applications - The first BOPP production line was launched in November 2025, with a second line expected to be operational by the second half of 2026, targeting an annual capacity of approximately 2,400 tons per line [3] - BOPP films are primarily used in thin film capacitors and battery electrode production, with the company focusing on high-precision thickness control and stringent electrical performance standards [4] - The BOPP films possess significant technical advantages, including self-healing properties and high insulation resistance, which are critical for meeting industry standards [4] Group 3: Solid-State Battery Technology - The company has pioneered solid-state battery-specific BOPA films, which are essential for the next generation of batteries due to their high energy density and safety features [5][6] - The soft-pack design of solid-state batteries, utilizing BOPA films, enhances adaptability to volume changes and reduces the risk of rupture under pressure [5][6] - The company is actively collaborating with industry partners to establish standards for solid-state battery packaging, aiming for scalable growth in production and sales as the technology matures [6] Group 4: Market Landscape and Competitive Position - The global market for BOPP films is dominated by manufacturers in Japan and Europe, who have established technological advantages and hold significant market shares in high-end capacitor films [7] - Domestic production of BOPP films is still developing, with a notable gap in high-end ultra-thin film capacity, leading to a high dependency on imported products for advanced applications [7]

Core Viewpoint - Zhonglun New Materials focuses on ultra-thin BOPP films for electrical applications, highlighting the significant differences between their products and general packaging films [2] Product Characteristics - The company's BOPP films are categorized as electrical-grade materials, including capacitor films and electrode films for batteries, with applications in thin film capacitors and battery electrode composite current collectors [2] - Key advantages of the BOPP new energy films include strong self-healing properties, high insulation resistance, low dielectric loss, high dielectric strength, high voltage resistance, high-temperature resistance, and long service life [2] Technical Requirements - The production of BOPP films requires high precision in thickness control and adherence to strict electrical performance standards [2] - In contrast, ordinary BOPP packaging films are general-purpose materials with a typical thickness of around 20 micrometers, focusing on basic packaging protection and aesthetic display [2] Application Differences - The core characteristics of ordinary BOPP films include moderate mechanical strength, good transparency, and strong print adaptability, primarily used in food, daily necessities, and printed materials for everyday packaging scenarios [2] - There are significant differences in product positioning, core characteristics, downstream applications, and technical requirements between the company's BOPP films and general packaging films [2]

Production Capacity and Progress - The first BOPP production line was officially launched in November 2025, with a second line expected to be operational in the second half of 2026. The first line has achieved stable mass production of various thicknesses of BOPP capacitor film products, with thin films entering mass delivery after customer validation [1] - The BOPP production line focuses on thin and ultra-thin film products, with an estimated annual capacity of approximately 2,400 tons per line, depending on product thickness. A total of nine production lines are planned, with two in the first phase and subsequent lines to be added based on market demand [1] Product Applications and Differentiation - The BOPP film is positioned as ultra-thin electrical-grade film, including capacitor film and electrode film, used in the production of thin-film capacitors and battery electrode collectors. It features strong self-healing, high insulation resistance, low dielectric loss, high dielectric strength, and long service life [2] - In contrast, ordinary BOPP packaging materials are typically around 20 microns thick, focusing on basic packaging protection and appearance, with core characteristics including moderate mechanical strength and good transparency [2] Solid-State Battery Developments - The subsidiary, Xiamen Changsu, has pioneered solid-state battery-specific BOPA film, currently in the market promotion phase. The company is also involved in drafting and implementing standards for aluminum-plastic films used in solid-state batteries [3] - As the solid-state battery industry accelerates, the company plans to closely monitor market penetration rates and promote the production and sales of solid-state battery-specific films [3] Existing and Future Capacity for BOPA and PA6 - The current annual production capacity for PA6 (Nylon 6) chips is 145,000 tons, with 210,000 tons of additional capacity under construction, expected to be operational by 2027 [4][5] - The company currently operates 14 BOPA production lines with a total capacity of 145,000 tons, with plans for additional lines in both domestic and international locations, aiming for a total capacity of 275,000 tons upon completion of all projects [5] Utilization of PA6 Chips - The PA6 chips are primarily used internally for the production of BOPA films, with some sales based on market demand. Besides BOPA films, PA6 chips have various applications in textiles, industrial fibers, and engineering plastics [5] - The integrated supply chain for PA6 and BOPA films enhances cost competitiveness, quality control, and innovation capabilities, aligning with green production trends [5]