Core Viewpoint - Guangdong Haohui New Materials Co., Ltd. has officially submitted a listing guidance report to the Guangdong Securities Regulatory Bureau, marking the beginning of its capital process [2] Company Overview - Established on December 29, 2009, Haohui New Materials has a registered capital of 56 million yuan and is headquartered in Dongguan, Guangdong Province [3] - The major shareholder is Guangdong Haohui Industrial Co., Ltd., holding a 71.43% stake [3] - The company specializes in the research and manufacturing of UV light-curing specialty polymers, with a comprehensive product matrix covering various applications [4] Production Capacity and Expansion - The company has recently completed a strategic layout with a new R&D and manufacturing base in Huai Bei, with a total investment exceeding 1 billion yuan [6] - The new facility will cover an area of 161 acres and is expected to achieve an annual production capacity of 45,000 tons of UV resin and 30,000 tons of UV monomers [6] - A new production project in Nanyun City is estimated to cost around 80 million yuan and will have an annual capacity of 30,000 tons of light-curing resin [7] Industry Position and Recognition - Haohui New Materials is recognized as a national "little giant" and a "specialized, refined, and innovative" enterprise in Guangdong Province [6] - The company is included in Dongguan's "Doubling Plan" for key enterprises, indicating its strong industry presence and potential for listing [6] Market Trends - The UV light-curing technology is experiencing rapid growth due to its low VOC emissions and energy efficiency, aligning with current environmental policies [7] - The company's move to initiate the listing process is expected to accelerate technological iterations and promote the transformation of the entire coating industry towards greener and higher-end solutions [7]

Core Viewpoint - BYD is expanding its adhesive production capacity through a new project in Guangdong, which is expected to enhance its supply chain and reduce reliance on foreign brands [2][3][9]. Group 1: Project Overview - The total investment for the adhesive production project is 74.52 million yuan, with implementation planned from November 2025 to July 2026 [3]. - The project will cover an area of 12,000 square meters and aims to produce 25,000 tons of silicone encapsulant, 10,000 tons of PVC adhesive, and 40,000 tons of polyurethane adhesive annually [3]. Group 2: Company Background - The project is being developed by Shantou BYD Industrial Co., Ltd., a wholly-owned subsidiary of BYD, established in October 2016 with a registered capital of 50 million yuan [4]. - In addition to the adhesive project, this subsidiary is also involved in paint projects [4]. Group 3: Related Projects - In July, the special functional interface materials project by Shantou BYD was completed with an investment of 12.5 million yuan, designed to produce 1,460 tons of insulation powder coatings and special light-curing coatings annually [5]. - A water-based paint project with a total investment of 6 million yuan has also been completed, with an annual production capacity of 4,000 tons for both water-based and fireproof coatings [6]. Group 4: Strategic Investments - In May, BYD became the second-largest shareholder of Chongqing Huahui Coating Co., Ltd., which specializes in automotive coatings [7]. - Huahui's products include original factory coatings for vehicles and have established partnerships with several domestic automakers, enhancing BYD's supply chain [8]. Group 5: Future Plans - BYD plans to invest in a paint research and development center to create higher-performance coatings tailored to its needs [10].