新瀚新材分析师会议 调研日期：2025年08月26日 调研行业：化学原料 参与调研的机构：嘉实基金、东海基金、上海喜世润投资、毕盛 (上海)投资、信诚基金等 / 机构调研pro小程序 DJvanbao.com 洞见研报 出品 : 关注公众号即可体验 机构调研pro小程序~ 扫码关注 调研纪要精选公众号 的問悉各行业更流企业调研情况。 机构调研pro小程序致力于为金融证券投资者提供最新最全的调研会议纪要。 来机构调研pro小程序，了解最新的：行业投资风向、热门公司关注、权威机构分析... 权威完善的信息持续更新! 更多精彩的机构调报告请移步机构调研pro小程序~ 一解投资机构行业关注度。 频判市场 | Gallia | | | --- | --- | | 11 2 12 200 2 110 | | | 1:给我们 = 影片面临官 = | | | 阿里巴巴佩尼 | | | 钢铁机之题。 8 | 图纸制图: 23 | | 20GB Millio Aller 19 | | | 海双集团 | | | 1 1 80.0 0 | 总机构建 23 | | LOGA: REGH, KETA: 1986 | | | 小麦具日 | ...

2025年上半年，新瀚新材（301076）(301076.SZ)交出了一份营利双增的业绩答卷，彰显出强劲的发展 韧性。 证券之星注意到，随着PEEK材料需求持续增长，公司凭借在DFBP领域领先的技术优势和稳定的供货能 力，推动特种工程塑料核心原料业务稳健增长。同时，光引发剂业务和医农中间体业务同步发力、表现 亮眼，成为拉动公司营收增长的重要引擎。面对行业需求的不断增长，公司以技术创新为核、产能扩张 为翼，多维度筑牢细分领域领先优势，为长期业绩增长注入强劲动能。 尤其是在光引发剂业务上，公司已与全球领先的光固化材料生产商IGM(艾坚蒙)、国内重要光固化材料 生产商杭华股份等保持长期稳定合作。随着涂料需求复苏，以及PCB、服装、真空电镀等领域对UV油 墨需求的增长，公司光引发剂业务有望持续受益。 四大业务筑牢增长根基 作为PEEK单体核心原料DFBP国内少数实现规模化生产的企业之一，新瀚新材凭借核心原料布局，在国 内PEEK产业链中占据重要地位，公司在上半年展现出强劲的增长韧性。 2025年半年度报告显示，公司实现营业收入为2.29亿元，同比增长9.66%；归母净利润为3529.26万元， 同比增长20.40%， ...

证券之星消息，2025年8月26日新瀚新材（301076）发布公告称公司于2025年8月26日接受机构调研，嘉实 基金徐鹤洋、淳厚基金田文天、上海季胜投资刘青林、民生证券刘隆基、东海基金张元涛、上海喜世润投 资刘冲力、毕盛(上海)投资骆红永、信诚基金姚思洲、南京证券顾诗园、建信基金吴昂达、正圆私募基金 刘家铄、申万宏源李绍程参与。 具体内容如下： 问：本次交流会中，互动答的主要内容(口头交流内容表述可能存在误差，如与正式公告内容冲突，请以 正式披露内容为准)如下: 答：本次交流会中，互动问的主要内容(口头交流内容表述可能存在误差，如与正式公告内容冲突，请以 正式披露内容为准)如下 答：DFBP 主要是应用于 PEEK 的聚合，由于 PEEK 的新应用领域在不断开拓，近两年 PEEK 的新增客户 在增加，公司在保持老客户合作稳定的基础上，个别新客户的订单也在增加。 问：PEEK 的行业前景如何？ 答：由于 PEEK 拥有优良的综合性能（高强度、耐高温、耐腐蚀、耐辐射、自润滑、生物相容性好等）， 其在航空航天、人体植入、高端制造等领域以及低空飞行器、机器人等高端制造领域的新尝试，为其市场 增加了新的增长动能。近两 ...

证券代码：301076 证券简称：新瀚新材 江苏新瀚新材料股份有限公司 投资者关系活动记录表 编号：2025-004 由于 PEEK 拥有优良的综合性能（高强度、耐高温、 耐腐蚀、耐辐射、自润滑、生物相容性好等），其在航 空航天、人体植入、高端制造等领域以及低空飞行器、 机器人等高端制造领域的新尝试，为其市场增加了新的 增长动能。近两年国内 PEEK 厂商也在增多，公司作为较 早进入核心原料领域的供应商，坚定看好 PEEK 产业链的 发展。 3、2025 年公司化妆品原料 HAP 和 HDO 产品的市场前 景如何？ 公司 HAP 产品主要应用于知名品牌的中高端面霜、 面膜类产品中，目前一些化妆品新品类及国内外新品牌 使用的案例在增多。公司 HDO（己二醇）产品可直接作为 化妆品原料，能够很好地与其他物质组合，具有良好的 保湿作用，同时具有杀菌作用，与 HAP 类似用作化妆品 新型防腐助剂，其目标客户群体与 HAP 相同。 4、公司产品医药中间体在 2025 半年度销量增加较 多的原因是什么？ | 投资者关系活动类别 | 特定对象现场调研 分析师会议 □媒体采访 □业绩说明会 | | --- | --- | ...

Group 1 - The core viewpoint of the news is that Panjing Investment has conducted research on a listed company, focusing on the DFBP industry, production capacity, sales growth, and future market prospects [1] - DFBP is primarily used for PEEK polymerization and has limited domestic large-scale production manufacturers; the company has added 2500 tons of production capacity which is now in bulk supply [1] - The production barriers for DFBP are related to quality affecting PEEK performance, requiring long-term technical accumulation [1] Group 2 - The revenue and profit growth in Q1 is attributed to increased sales volume and improved gross margin [1] - The expected decline in gross margin for 2024 is due to intensified competition leading to price reductions and increased fixed costs from ramping up production capacity [1] - The market demand for HDO is anticipated to exceed that of HAP, with the company planning to optimize production structure and adjust capacity according to market demand [1]

Financial Performance - In 2024, the company achieved a revenue of 419 million CNY, with a net profit of 55.97 million CNY [2] - In Q1 2025, the revenue was 116 million CNY, and the net profit reached 16.19 million CNY [3] - Revenue in 2024 decreased by 3.66% compared to the previous year, primarily due to a reduction in product sales prices, despite a 30% increase in total sales volume [3] - In Q1 2025, revenue increased by 12.43% year-on-year, with sales volume across major product categories rising by over 30% [3] Product Performance - Sales of specialty engineering plastics remained stable, while sales of photoinitiators increased by nearly 30% [3] - Cosmetic raw material sales doubled, and sales of agricultural and pharmaceutical intermediates increased by over 40% [3] - DFBP sales volume in Q1 2025 increased by approximately 30% compared to the same period last year [5] Market Outlook and Strategy - The company plans to enhance market expansion efforts and improve capacity utilization [7] - The HAP product is primarily used in high-end skincare products, with new brands starting to adopt it [7] - HDO products serve as cosmetic raw materials with good moisture retention and antibacterial properties, targeting the same customer base as HAP [7] - The company aims to explore new growth points in specialty engineering plastics and cosmetic raw materials [7] Cost and Pricing Dynamics - Product prices will be adjusted based on raw material costs and market competition [6] - An increase in capacity utilization is expected to lower fixed costs per unit, leading to a recovery in gross profit margins in Q1 2025 [6]

Company Overview - The company specializes in the research, production, and sales of aromatic ketone products, including core raw materials for specialty engineering plastics, photoinitiators, and cosmetic raw materials [2] - The company has established stable partnerships with major global manufacturers in the PEEK (Polyether Ether Ketone) industry, such as VICTREX, SYENSQO, and EVONIK [11] Industry Situation Specialty Engineering Plastics - PEEK - PEEK is a high-performance thermoplastic with excellent properties such as high heat resistance, radiation resistance, and chemical stability, making it a popular choice in various industries [4] - The demand for PEEK in China is expected to grow significantly, with production projected to reach approximately 3,809 tons and demand around 3,894 tons by 2024, reflecting a rapid expansion trend [5] - The global PEEK market is forecasted to reach 6.1 billion yuan by 2024 and 8.54 billion yuan by 2027, with a compound annual growth rate (CAGR) of 13.7% in the Chinese market from 2022 to 2027 [5][6] Photoinitiators - Photoinitiators are essential components in photopolymerization processes, which are increasingly replacing traditional solvent-based materials due to their efficiency and environmental benefits [11] - The market for UV coatings, inks, and adhesives in China is projected to grow, with the UV ink market being the largest application area, driven by the PCB industry [12] Cosmetic Raw Materials - The market for cosmetic preservatives is expected to reach 1.4 billion USD by 2024, with a growing demand for new, safer preservatives due to regulatory changes and consumer preferences [16] - The company's HAP and HDO products are recognized for their multifunctional properties, including antioxidant and antimicrobial effects, making them suitable alternatives to traditional preservatives [15][19] Key Performance Drivers - The company benefits from supportive national policies and technological advancements in the fine chemical industry, which are crucial for sustainable development [20][22] - The increasing demand for high-performance materials in various sectors, including aerospace, automotive, and healthcare, is driving the growth of the PEEK market [20][21] - The company's established reputation and partnerships with high-end clients in specialty engineering plastics, photoinitiators, and cosmetic raw materials enhance its competitive position [22]