区域经济发展如此之好，关键在于精准把握产业脉搏，以创新实践破解发展难题。今年5月，商务部印 发的《深化国家级经济技术开发区改革创新 以高水平开放引领高质量发展工作方案》明确提出，要因 地制宜发展新质生产力、提升开放型经济水平。这为国家级经开区的发展指明了方向，也与杭州湾上虞 经开区的发展路径不谋而合。 一次次产业升级的蝶变、一家家出海拓市的企业，汇聚成高质量发展的澎湃动能。如今的杭州湾上虞经 开区，已集聚1846家企业，其中规模以上工业企业达351家。2024年，经开区实现总产值2576.2亿元， 同比增长6.9%，勾勒出区域发展的曲线。 日月递嬗，盛貌日新。行走在杭州湾上虞经济技术开发区，蓬勃发展的生动图景徐徐铺展：昔日破土抽 枝的工业新苗，如今已长成枝繁叶茂的产业森林；曾经扎根一隅的本土企业，正蜕变为逐浪全球的外贸 劲旅。这片充满活力的热土，处处跃动着跨越发展的强劲脉搏。 创新谋发展 先进材料产业加速前进 在世界百年未有之大变局加速演进的时代背景下，杭州湾上虞经开区正面临产业结构不均衡、经济效益 亟待突破等多重挑战。如何在变局中开新局、于挑战中寻机遇，成为推动经开区实现高质量发展的关键 命题。 面对产业升 ...

3C 涂料是指应用于电脑（ Computer ）、通信设备（ Communication ）和消费类电子产品（ Consumer Electronics ）外壳及零部件表面的功能性与 装饰性涂层材料，主要用于提升产品的外观质感、耐磨性、抗指纹性能及环境适应性。根据应用工艺和性能要求不同， 3C 涂料可分为 UV 涂 料、 PU 涂料等体系，广泛用于手机、笔记本电脑、平板、可穿戴设备等终端产品的塑料、金属、玻璃材质表面，是连接电子制造与终端消费体 验的重要材料环节。 3C涂料行业目前现状分析 当前， 3C 涂料行业处于平稳增长与结构转型并行的阶段。一方面，受益于手机、笔记本、穿戴设备等 3C 终端出货量回暖，尤其是中国、印度和 越南等新兴制造基地的崛起， 3C 涂料的整体需求在 2024 年实现恢复性增长，市场规模达到了 9.37 亿美元。中国是当前无可争议的核心市场，拥 有全球最完善的电子制造产业链，其市场消费占比达 62.86% ，同时具备强大的本地供应链整合能力。国际品牌与中国本土企业在此市场共存， 前五大生产商占据过半市场份额。 全球市场 3C 涂料 市场规模： 2020 VS 2024 VS 2031 ...

Core Viewpoint - Hunan Hengxing New Materials Technology Co., Ltd. has been accepted for IPO on the Beijing Stock Exchange, with significant control held by its chairman and general manager, Li Haodan, who controls 82.81% of the voting rights [1][3]. Company Overview - Established in March 1996, Hengxing specializes in the R&D, production, and sales of UV curing coatings and PUR hot melt adhesives, with applications in various industries including PVC flooring and automotive components [3][4]. - The company has three production bases in Hunan and plans to establish overseas R&D and production bases in Vietnam and Thailand [3][4]. Financial Performance - Revenue for 2022-2024 is projected to be CNY 6.52 billion, CNY 7.59 billion, and CNY 8.79 billion, with net profits of CNY 479 million, CNY 1.13 billion, and CNY 1.134 billion respectively [6][7]. - The gross profit margin is expected to increase from 24.79% in 2022 to 36.84% in 2024, primarily due to a decrease in raw material costs [6][14]. Product Revenue Breakdown - Revenue from UV coatings for 2022-2024 is projected at CNY 5.972 billion, CNY 6.721 billion, and CNY 7.800 billion, while PUR hot melt adhesive revenue is expected to be CNY 463 million, CNY 753 million, and CNY 850 million [9][10]. - The sales price of UV coatings has slightly decreased from CNY 44,664.55 per ton in 2022 to CNY 43,593.72 per ton in 2024 due to raw material price fluctuations [12][15]. R&D and Innovation - The company has established several R&D platforms and has filed for 15 patents, with 4 more pending [4]. - Ongoing R&D projects include environmentally friendly coatings and specialized products for various applications, such as wind turbine blade repair and food packaging [4][10]. Market Expansion - The company has seen rapid growth in overseas sales, with foreign revenue increasing from CNY 72.83 million in 2022 to CNY 228.09 million in 2024, driven by the establishment of production bases in Southeast Asia [20][21]. - The company aims to expand its market share in the automotive coatings sector and enhance its product offerings through new manufacturing projects [22][24]. Fundraising and Future Plans - The company plans to raise CNY 493 million through its IPO to fund various projects, including new manufacturing bases and R&D centers [22][23]. - The new projects are expected to significantly increase production capacity and annual revenue, enhancing the company's competitive position in the market [24][28].

丨证券研究报告丨 行业研究丨点评报告丨化工 [Table_Title] 光引发剂行业：供给事件频出，景气有望修复 报告要点 [Table_Summary] 近日，光引发剂行业供给端扰动频发，扬帆新材江西子公司因火灾事故被责令停产停业整顿， 重要生产企业宁夏沃凯珑经营面临困境；光引发剂行业集中度水平较高，近年需求持续增长， 近期供给扰动频出，景气有望回暖，建议关注相关标的投资机会。 分析师及联系人 [Table_Author] %% %% research.95579.com 1 [Table_Title2] 光引发剂行业：供给事件频出，景气有望修复 [Table_Summary2] 事件描述 马太 李禹默 SAC：S0490516100002 SAC：S0490525060002 SFC：BUT911 请阅读最后评级说明和重要声明 %% %% 1）2025 年 6 月 10 日晚间，扬帆新材发布《关于全资子公司发生火灾事故的公告》，全资子公 司江西扬帆的 109 车间发生火灾，造成一名员工轻度烧伤；并收到应急管理局下发的《现场处 理措施决定书》，责令江西扬帆停产停业整顿，待验收合格审查同意后，方可恢复生产经营 ...