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Xinzhoubang: Semiconductor materials business drives growth, and the contribution of electronic chemicals increases significantly.

2026-07-16·ima-daily5min-0716-32-e30e7a64f5

Street Signal | Xinzhoubang: Semiconductor materials business drives growth, and the contribution of electronic chemicals increases significantly.

Using the classified valuation method, the electrolyte, fluorine chemicals, and electronic chemicals businesses were valued at 15 times, 30 times, and 40 times the expected earnings in 2027. Xinzhoubang's semiconductor materials business is supported by profitability.

Its electronic information chemicals segment is expected to have a compound growth rate of 40%-50% from 2026 to 2028. Superimposed on the steady improvement of fluorine chemicals and capacitor chemicals, the net profit is expected to rise from approximately 2.2 billion yuan expected in 2026 to approximately 3 billion yuan in 2028.

The company's future growth and valuation will shift from electrolytes to electronic chemicals. It is expected that the gross profit proportion of electronic chemicals will increase from 30% in 2025 to approximately 40% in 2028.

The market's recognition of Xinzhoubang still remains at the leading level of electrolytes, and its high growth potential and valuation premium of its electronic chemicals business may be seriously underestimated. One sentence conclusion: Xinzhoubang is transforming from an electrolyte leader to an upstart in semiconductor materials.

The high growth of the electronic chemicals business will drive the company's valuation system to switch from cyclical stocks to growth stocks, and there is huge room for revaluation. Good/bad: Good for Xinzhoubang (300037.SZ).

The market's valuation is still based on electrolyte cyclical stocks, and the high growth and valuation premium of the electronic chemicals business are underpriced. The rating upgrade will trigger a revaluation. Catalysts:

1) New Zhoubang electronic chemicals business quarterly data and customer certification progress;

2) Progress in domestic substitution of semiconductor materials;

3) Changes in electrolyte profitability.

Full text

Xinzhoubang: Semiconductor materials business drives growth, and the contribution of electronic chemicals increases significantly.

Using the classified valuation method, the electrolyte, fluorine chemicals, and electronic chemicals businesses were valued at 15 times, 30 times, and 40 times the expected earnings in 2027.

Using the classified valuation method, the electrolyte, fluorine chemicals, and electronic chemicals businesses were valued at 15 times, 30 times, and 40 times the expected earnings in 2027. Xinzhoubang's semiconductor materials business is supported by profitability. Its electronic information chemicals segment is expected to have a compound growth rate of 40%-50% from 2026 to 2028. Superimposed on the steady improvement of fluorine chemicals and capacitor chemicals, the net profit is expected to rise from approximately 2.2 billion yuan expected in 2026 to approximately 3 billion yuan in 2028. The company's future growth and valuation will shift from electrolytes to electronic chemicals. It is expected that the gross profit proportion of electronic chemicals will increase from 30% in 2025 to approximately 40% in 2028. The market's recognition of Xinzhoubang still remains at the leading level of electrolytes, and its high growth potential and valuation premium of its electronic chemicals business may be seriously underestimated. One sentence conclusion: Xinzhoubang is transforming from an electrolyte leader to an upstart in semiconductor materials. The high growth of the electronic chemicals business will drive the company's valuation system to switch from cyclical stocks to growth stocks, and there is huge room for revaluation. Good/bad: Good for Xinzhoubang (300037.SZ). The market's valuation is still based on electrolyte cyclical stocks, and the high growth and valuation premium of the electronic chemicals business are underpriced. The rating upgrade will trigger a revaluation. Catalysts: 1) New Zhoubang electronic chemicals business quarterly data and customer certification progress; 2) Progress in domestic substitution of semiconductor materials; 3) Changes in electrolyte profitability.

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