Core Viewpoint - The article discusses the upcoming IPO of Zhejiang Xinhengtai New Materials Co., Ltd., which aims to raise 380 million yuan for projects related to micro-porous foaming materials and IXPE production line upgrades, highlighting the growing demand for lightweight and sustainable materials in various industries [1][2]. Group 1: Company Overview - Zhejiang Xinhengtai New Materials Co., Ltd. focuses on the research, development, manufacturing, and sales of functional high polymer foaming materials, including PE Foam, IXPE, and MPP [6]. - The company was established in 2008 and is recognized as a national-level "little giant" enterprise specializing in innovation [5]. Group 2: Financial Performance - In 2025, Xinhengtai expects to achieve a revenue of 806 million to 844 million yuan, representing a year-on-year growth rate of 6.60% to 11.63%, primarily driven by the demand for MPP products in the new energy battery sector [3]. - The company reported revenues of 530 million yuan, 679 million yuan, 774 million yuan, and 384 million yuan from 2022 to the first half of 2025, with net profits of approximately 39.71 million yuan, 93.35 million yuan, 82.04 million yuan, and 46.83 million yuan respectively [9]. Group 3: Production Capacity and Utilization - In 2024, the company had a production capacity of 30,000 cubic meters, producing 27,400 cubic meters and achieving a sales volume of 29,200 cubic meters, resulting in a production-sales rate of 106.50% [4]. - The capacity utilization rates for PE Foam and MPP products from 2022 to the first half of 2025 were 69.23%, 76.27%, 76.23%, and 68% for PE Foam, while MPP maintained nearly 100% utilization [10]. Group 4: Product Applications and Market Demand - MPP products are utilized in various applications, including new energy battery cell cushioning, 5G communication microwave antenna covers, and other high-demand sectors [2]. - The company has established a strong market presence, supplying major brands such as CATL, BYD, Geely, and Huawei, with MPP products being a significant contributor to its revenue growth [3].

【环球网财经综合报道】国内功能性高分子发泡材料企业浙江新恒泰新材料股份有限公司正冲刺北交所上市，公司拟募资3.8亿元用于产能扩张与研发升 级。然而，该公司招股书与公开环评文件、重要新增项目未披露等问题，引发市场对其信息披露真实性、合规性的质疑。 公开信息披露显示，新恒泰成立于2008年，总部位于浙江嘉兴，主营业务为功能性高分子发泡材料的研发、生产和销售，产品涵盖PE Foam、IXPE、MPP 等，应用于建筑装饰、新能源、消费电子等领域，拥有多项专利与行业资质，近年来凭借规模化生产与多元客户布局实现营收增长，2024年营业收入达7.74 亿元。 根据招股书披露，"年产5万立方米微孔发泡新材料项目"是公司本次上市的主要募投项目之一，总投资24232万元，拟投入募集资金24135万元，占此次募资 总额的63.5%。然而，嘉兴市生态环境局出具的环评批复（嘉（南）环建〔2024〕67号）却显示，该项目为扩建性质，总投资仅11764万元，两者差额高达 12468万元，接近环评披露金额的1.06倍。针对这一投资金额差异，公司在招股书中未给出任何说明，也未回应记者采访。 | | | | | | 单位: 万元 | | --- ...