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%， ...

Core Viewpoint - Newhan New Materials (301076.SZ) has reported significant growth in various product categories, including cosmetic raw materials and photoinitiators, achieving a record high in cash flow since its listing [1][4]. Group 1: Financial Performance - In 2024, Newhan New Materials achieved a total revenue of 419 million yuan and a net profit attributable to shareholders of 55.97 million yuan [2]. - The specialty engineering plastics business contributed significantly, generating 175 million yuan, accounting for over 40% of total revenue [2]. - The company reported a net cash flow from operating activities of 139 million yuan in 2024, a year-on-year increase of 525.7% [4]. Group 2: Market and Product Development - Newhan New Materials specializes in producing various aromatic ketone products, including key raw materials for specialty engineering plastics, photoinitiators, and cosmetic raw materials, with applications in aerospace, coatings, inks, cosmetics, and medical fields [2]. - The company’s DFBP is a critical raw material for manufacturing PEEK (polyether ether ketone), which is increasingly used across diverse sectors such as electronics, transportation, and healthcare [2][3]. - The PEEK materials market in China is projected to exceed 2 billion yuan in 2024, with an annual growth rate of 15%-20% [2]. Group 3: Competitive Advantages - Newhan New Materials has established stable partnerships with major global manufacturers in the PEEK field, leveraging its technological advancements and product quality [3]. - The company has strengthened its core competitiveness in cosmetic raw materials, agricultural intermediates, and photoinitiators, with significant revenue growth in these segments [3]. - In 2024, revenue from cosmetic raw materials, agricultural intermediates, and photoinitiators reached 93.58 million yuan, 79.96 million yuan, and 70.84 million yuan, respectively, with year-on-year growth rates of 77.32%, 30.15%, and 6.87% [3]. Group 4: Capacity Expansion and Innovation - Newhan New Materials is expanding its production capacity, planning to build an additional 8,000-ton aromatic ketone production facility to meet increasing customer demand [5]. - The company emphasizes technological innovation, having developed new techniques that enhance product quality and reduce environmental impact [6]. - Newhan New Materials holds 29 invention patents and 21 utility model patents, with plans to strengthen industry-academia-research collaborations [6]. Group 5: ESG Commitment - Newhan New Materials integrates ESG principles into its operations, focusing on sustainable development and stakeholder interests [7]. - The company has a robust cash dividend policy, proposing a cash dividend of 1 yuan per 10 shares for 2024, amounting to 13.45 million yuan, which represents 24% of its net profit [7]. - In 2024, the company effectively controlled greenhouse gas emissions and was recognized as an "Environmental Demonstration Enterprise" in Nanjing [7].