Zhonglun New Materials: Participated in institutional research on March 2nd, with China International Capital Corporation and Xiangyu Venture Capital involved.

Securities Star News: On March 2, 2026, Zhonglun New Materials (301565) announced that the company received an institutional survey on March 2, 2026. Participants included CICC’s Fu Kaiming, Yu Fang, Xu Xiaotian, and Xiangyu Venture Capital’s Xiao Xiang, Liu Rong.

The specific details are as follows:

Q: What technical advantages has the company accumulated in the production and R&D of the BOPA industry?

A: After years of deep cultivation and development, the company has formed a strong technical advantage. In terms of process technology, the company is one of the few globally that has mastered mechanical step-by-step stretching, mechanical synchronous stretching, and magnetic levitation linear motor synchronous stretching processes. Multiple production technologies can be flexibly switched to meet the customized needs of downstream customers. These technologies give the company a significant technical edge in the field of bi-axially oriented films. Leveraging rich technical reserves, the company can continuously explore high-value, high-technical-barrier functional films in new materials, driving product iteration through technology and constantly expanding new industry applications.

In terms of material technology, the company independently develops and proficiently masters core materials technologies such as masterbatch technology, multi-material blending, and co-extrusion. Through material innovation, the company promotes product innovation to meet personalized customer demands and further enhances market competitiveness. Relying on deep technical accumulation and continuous innovation, the company has established a systematic and mature system for masterbatch formulation and performance optimization, and has achieved major breakthroughs in multi-material blending modification and precision co-extrusion processes, enabling targeted enhancement of material performance and functional integration.

Based on its leading process technology and thorough understanding of material properties, the company aligns with end-market demands and development trends. By adjusting functional formulations and optimizing process technology, it has developed a series of new films suitable for various applications, such as “PH lithium battery film,” solid-state battery films, capacitor films, cell films, EH freshness-preserving films, TS instant-tear films, and MTT matte films, to meet the differentiated and high-end needs of the customized terminal market.

Q: What are the main reasons for the company’s layout of BOPA film projects in Indonesia? What advantages does the Indonesian industrial base have? How is the current investment progressing?

A: The company’s layout of the high-performance film industrialization project in Indonesia is mainly based on three core considerations: First, BOP films, with excellent performance, are widely used in food, pharmaceuticals, daily chemicals, soft-pack lithium batteries, and other fields. Downstream demand continues to grow. The company’s existing production equipment is operating at high capacity utilization, making it difficult to fully meet market demand. This project will help break through capacity bottlenecks and better match downstream market growth. Second, the company has established a leading position in the BOP film field, with overseas sales revenue on the rise. The project will improve overseas capacity, better serve Southeast Asian markets, and further radiate to European and North American markets, consolidating the company’s industry-leading position and enhancing global competitiveness. Third, in the current increasingly complex global trade environment with rising trade protectionism, the company’s overseas sales in Southeast Asia, South Asia, Europe, and the Americas face supply chain risks. Indonesia, as a core ASEAN member, offers advantageous location and tariff policies. Establishing a manufacturing base there can deeply serve local and surrounding markets while quickly expanding into Europe and other regions, increasing global market penetration, and strengthening the company’s globalization strategy and risk resilience.

The company is currently investing in the Indonesia high-performance film industrialization project, planned in two phases, with four production lines totaling an annual capacity of 90,000 tons. The first phase’s initial production line was put into operation in January 2026, adding 25,000 tons/year of overseas capacity. The second line is expected to start operation in the second half of 2026.

Q: What is the progress and operation status of the company’s BOPP film production?

A: The company’s first BOPP new energy film production line was officially put into operation in November 2025. The second line is expected to be operational in the second half of 2026. The company’s BOPP new energy films are mainly used as electrical-grade base films in the manufacturing of film capacitors and composite current collectors.

The BOPP production line focuses on thin and ultra-thin films, with an annual capacity of about 2,400 tons per line (adjusted according to product thickness). The overall project plans nine production lines, with two lines in the first phase. The company will proceed with phased investments based on market demand changes.

Zhonglun New Materials (301565) mainly engages in R&D, production, and sales of functional BOPA films, bio-based biodegradable BOPLA films, BOPP new energy films, and high-performance PA6 materials.

According to the Q3 2025 report, the company’s main business revenue for the first three quarters was 1.537 billion yuan, down 15.14% year-over-year; net profit attributable to shareholders was 66.82 million yuan, down 42.02%; net profit after non-recurring gains and losses was 56.17 million yuan, down 49.25%. In Q3 2025 alone, the company achieved revenue of 530 million yuan, down 15.24% YoY; net profit attributable to shareholders was 25.19 million yuan, up 66.96%; net profit after non-recurring gains and losses was 22.49 million yuan, up 62.05%. The debt ratio was 36.98%, investment income was 982,500 yuan, financial expenses were -2.41 million yuan, and gross profit margin was 13.99%.

Margin financing and securities lending data show that in the past three months, net financing outflow was 2.1366 million yuan, with a decrease in financing balance; net securities lending inflow was 436,200 yuan, with an increase in securities lending balance.

The above information is compiled from public sources by Securities Star and generated by AI algorithm (Network Credit Record 310104345710301240019). It does not constitute investment advice.