Core Viewpoint - The company has made significant progress in its "Quality Improvement and Efficiency Enhancement" action plan for 2025, focusing on optimizing operations, enhancing market competitiveness, and ensuring investor rights [1][11]. Business Performance - The company achieved a revenue of 347.53 million yuan in the first half of 2025, representing a year-on-year increase of 7.48%. In Q2 alone, revenue reached 194.42 million yuan, a quarter-on-quarter growth of 26.97% [1]. - The passenger vehicle sector showed strong performance, with revenue of 97.83 million yuan from January to June 2025, a year-on-year increase of 109.60%, accounting for 28.15% of total revenue, up 13.71 percentage points from the previous year [2]. - The high-end consumer electronics sector generated revenue of 243.56 million yuan in the first half of 2025, with mobile phone and accessory sales growing by 3.27% year-on-year [3]. Innovation and R&D - The company invested 50.92 million yuan in R&D in the first half of 2025, a 6.73% increase year-on-year, representing 14.65% of total revenue. It also obtained 12 new national patents during this period [4]. - The company has developed environmentally friendly technologies and innovative products, such as UV insulation inks and advanced coatings for automotive interiors, which are gradually replacing existing products [5]. Investor Communication - The company adheres to strict information disclosure regulations, ensuring the authenticity and accuracy of its communications. It utilizes various channels, including performance briefings and social media, to engage with investors [6][7]. Corporate Governance and Social Responsibility - The company complies with relevant laws and regulations, continuously improving its internal governance structure. It has published its first ESG report, achieving significant improvements in ESG ratings [8]. - The company has implemented an employee stock ownership plan to enhance motivation among key personnel, which was completed on July 2, 2025 [9]. Shareholder Returns - The company has adopted a stable cash dividend policy, proposing a cash dividend of 2.3211 yuan per 10 shares for the 2024 fiscal year, totaling 25.94 million yuan, along with a capital reserve increase of 4 shares for every 10 shares held [10].

松井新材料集团股份有限公司2025 年半年度报告 公司代码：688157 公司简称：松井股份 松井新材料集团股份有限公司 松井新材料集团股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确 性、完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 重大风险提示 公司已在本报告中详细阐述经营过程中可能面临的各种风险，请查阅本报告第三节"管理层 讨论与分析"之"四、风险因素"。敬请投资者注意投资风险。 三、 公司全体董事出席董事会会议。 四、 本半年度报告未经审计。 五、 公司负责人凌云剑、主管会计工作负责人严军及会计机构负责人（会计主管人员）曾丽芳 声明：保证半年度报告中财务报告的真实、准确、完整。 六、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 七、 是否存在公司治理特殊安排等重要事项 □适用 √不适用 八、 前瞻性陈述的风险声明 √适用 □不适用 本报告所涉及的公司未来规划、发展战略等前瞻性陈述，不构成公司对投资者的实质承诺， 敬请投资者注意投资风险。 九、 是否存在被控股股东及其他 ...

Core Viewpoint - The report highlights a significant decline in net profit for Matsui New Materials Group Co., Ltd. in the first half of 2025, despite an increase in revenue, primarily due to changes in product and customer structure affecting gross margins and rising operational costs [5][6][9]. Financial Performance - Total assets at the end of the reporting period were CNY 173,425.20 million, a decrease of 4.04% compared to the previous year [4]. - Net profit attributable to shareholders was CNY 1,227.95 million, down 69.84% year-on-year [4][5]. - Revenue for the first half of 2025 was CNY 34,753.25 million, an increase of 7.48% compared to the same period last year [4]. - The weighted average return on equity decreased by 2.23 percentage points to 0.93% [4]. - Basic and diluted earnings per share were CNY 0.11, a decrease of 70.27% [4]. Business Segments - The passenger vehicle sector showed strong growth, with revenue reaching CNY 9,782.84 million, a year-on-year increase of 109.60%, accounting for 28.15% of total revenue [5][6]. - The ink business also performed well, with a revenue increase of 107.15% in the first half of 2025 [7]. - The company is expanding its product offerings in high-end consumer electronics and has successfully collaborated with major clients in North America [5][6]. R&D and Innovation - R&D expenses amounted to CNY 5,091.93 million, a 6.73% increase year-on-year, with R&D expense ratio slightly decreasing to 14.65% [9][10]. - The company has made significant advancements in technology, including the development of environmentally friendly products and innovations in UV insulation inks [9][10]. - A total of 12 new national patents were granted during the reporting period, enhancing the company's intellectual property portfolio [10]. Operational Efficiency - The company has implemented an optimized organizational structure to improve operational efficiency and management collaboration [11]. - The management expense ratio decreased by 0.9 percentage points after excluding depreciation and amortization effects [11]. - The company achieved a significant improvement in its ESG ratings, reflecting enhanced sustainability practices [12].

Core Viewpoint - The company reported a decline in net profit and cash flow, while achieving revenue growth driven by strong performance in the passenger vehicle sector and high-end consumer electronics [5][6][7]. Financial Data - Total revenue for the first half of 2025 reached 347.53 million yuan, a year-on-year increase of 7.48% [5]. - Net profit attributable to shareholders was 12.28 million yuan, down 69.84% compared to the previous year [6]. - Basic earnings per share decreased by 70.27% [5]. Business Performance - The passenger vehicle sector saw a revenue increase of 109.60%, contributing 28.15% to total revenue [5][8]. - High-end consumer electronics revenue was 243.56 million yuan, with mobile phone and accessories revenue growing by 3.27% [5][9]. Market Development - The company is expanding its market presence in both the passenger vehicle and ink sectors, with significant growth in passenger vehicle coatings and ink products for electric vehicles [7][9]. - New technologies and products are being developed, including UV insulation inks and advanced coating solutions for various applications [11][12]. R&D Investment - R&D expenses for the first half of 2025 amounted to 50.92 million yuan, a 6.73% increase year-on-year, with a R&D expense ratio of 14.65% [13][14]. - The company has strengthened its R&D team, with 291 R&D personnel, representing 33.33% of total employees [14]. ESG Management - The company has improved its ESG ratings, with a significant upgrade from B to AA level, reflecting enhanced sustainability practices [16].

Core Insights - Matsui Co., Ltd. reported a record high revenue of 348 million yuan for the first half of 2025, marking a year-on-year increase of 7.48% [1] - The passenger vehicle segment saw significant growth, with revenue reaching 97.83 million yuan, a remarkable increase of 109.60% year-on-year [1] Financial Performance - The company's R&D expenses amounted to 50.92 million yuan, reflecting a year-on-year growth of 6.73% [1] - The R&D expense ratio slightly decreased to 14.65% of total revenue compared to the same period last year [1] - The R&D team expanded to 291 members, representing 33.33% of total employees, with a year-on-year growth of 21.76% [1] Strategic Initiatives - Matsui is advancing its "three verticals and three horizontals" strategic framework to enhance multi-field collaborative innovation [2] - The company is focusing on upgrading existing technologies and developing new products, including eco-friendly printing technologies and innovative coatings for automotive interiors [2] - Key strategic projects, such as body paint and aftermarket repair paint, are progressing towards market application [2] Technological Advancements - Matsui has developed integrated solutions for insulation frame printing and materials for all-solid-state batteries, addressing manufacturing challenges and enhancing battery performance and safety [2] - The new technology is currently in the joint verification phase with leading downstream companies, aiming for commercial breakthroughs [2] Industry Context - The company is strengthening its core competitiveness in the new functional coating sector amid the global manufacturing industry's shift towards high-end and green transformation [2]

Core Viewpoint - Matsui New Materials Group Co., Ltd. reported a historical high revenue of 348 million yuan in the first half of 2025, marking a year-on-year growth of 7.48%, with the ink business showing a remarkable growth of 107.15% [1] Group 1: Financial Performance - The company achieved a revenue of 348 million yuan in the first half of 2025, representing a year-on-year increase of 7.48% [1] - The ink business has become a significant driver of revenue growth, with a year-on-year increase of 107.15% [1] Group 2: Market Position and Strategy - Matsui ranks third in the global 3C coating market as of 2024, indicating strong competitive strength and international recognition [1] - The company is guided by a "three verticals and three horizontals" strategy, focusing on expanding its technology layout and product matrix to provide comprehensive solutions across coatings, inks, and adhesives [1] Group 3: Product Innovation and Development - The introduction of UV insulation ink has gained attention from new energy vehicle manufacturers and battery producers due to its superior safety performance [2] - Matsui has launched a series of innovative products, including integrated black ink and sintering ink, achieving stable mass production in high-end consumer electronics and new energy vehicles [2] - The company is also actively developing next-generation adhesive materials, addressing industry pain points in solid-state battery manufacturing with integrated solutions [2] Group 4: Strategic Focus - The company emphasizes technological innovation to drive product iteration and respond to market demands, gradually building a new functional coating material system that covers multiple scenarios and processes [3] - Matsui's strategic logic involves deepening technical accumulation and broadening application scenarios to capture opportunities in a dynamic industrial environment [3]

8月28日晚间，松井股份(688157)发布2025年半年度业绩报告。报告显示，公司上半年实现营业收入3.48 亿元，同比增长7.48%，创同期历史新高；其中，第二季度单季实现营业收入1.94亿元，环比增长 26.97%，显现出稳健的经营态势和持续成长潜力。 在当前新型功能涂层材料行业中，国际头部企业如阿克苏诺贝尔、PPG、巴斯夫等凭借其综合型、平台 化的业务布局与深厚技术积淀，长期占据市场主导地位。而专业型企业则更多聚焦于高端消费品等细分 市场，据了解，松井股份正是这一类型的代表企业。不过，近年来公司积极推动技术迁移与跨界融合， 不断拓宽产品应用边际，正逐步从专业型企业向平台型企业转型。 据悉，松井股份深耕高端消费电子领域，在PVD技术方面积淀深厚，该技术能够在塑料等基材上实现金 属化效果，在增强外观装饰性的同时不影响信号传输。如今，公司成功将这一技术迁移至乘用车领域， 自主研发了可应用于乘用车领域的PVD涂料。该材料采用真空离子溅射镀膜技术，具备无污染、强附着 力、高耐磨、耐候性强等优势，可替代高污染水电镀工艺，适用于多种汽车内外饰件，在提升美观与防 护性能方面表现突出，成为公司实现跨行业技术应用的典范。 ...

人民财讯8月28日电，松井股份(688157)8月28日晚间披露半年报，2025年上半年，公司实现营业收入 3.48亿元，同比增长7.48%；归属于上市公司股东的净利润1227.95万元，同比下降69.84%；基本每股收 益0.11元。报告期内，公司聚焦主业大力开拓市场，乘用车领域业务量增加，但受产品、客户结构变化 的影响，综合毛利率下降，与此同时随着长期资产转固，长期资产折旧摊销及运营成本增加。 转自：证券时报 ...

截至发稿，松井股份市值为68亿元。 每经头条（nbdtoutiao）——世界首例基因编辑猪肺成功移植人体 对话主要参与者：距离临床应用还有 多远？ （记者 张喜威） 每经AI快讯，松井股份（SH 688157，收盘价：43.2元）8月28日晚间发布公告称，公司第三届第九次董 事会会议于2025年8月28日在公司科创大楼二楼B210会议室以现场与通讯相结合方式召开。会议审议了 《2025年度"提质增效重回报"行动方案的半年度评估报告》等文件。 2024年1至12月份，松井股份的营业收入构成为：高端消费电子领域占比81.46%，乘用车领域占比 17.15%，其他业务占比1.39%。 ...

松井新材料集团股份有限公司 公司高端消费电子领域业务 2025 年 1-6 月实现营业收入 24,355.77 万元，其 中手机及配件业务营业收入同比增长 3.27%。公司密切关注下游市场发展动态， 以客户需求为导向，挖掘市场潜力与增量空间。报告期内，公司与终端客户的合 作持续深入，在性能、触感双重严苛标准下攻克多项技术难题，为其新产品提供 系统化解决方案；与北美消费电子大客户合作品类及范围逐步扩大，在手机及配 件领域成功获得多个新项目量产开发权；推动拓印技术在国内 H 大客户、荣耀、 小米等终端客户的多品类产品中规模化应用，渗透率持续提升；准分子工艺已配 合客户完成打样并实现多个项目量产落地；紧抓智能眼镜市场机遇，参与小米、 Meta 等终端智能眼镜开发。 关于 2025 年度"提质增效重回报"行动方案的半年度评估报告 此外，公司油墨业务开始发力，2025 年 1-6 月实现营业收入同比增长 107.15%。 公司自主研发的 UV 绝缘油墨凭借优异的安全性能成为传统工艺的升级替代方 案，正逐步获得新能源车企及电池厂商的关注与认可；一体黑油墨、烧结油墨、 PCB 字符油墨等多款油墨创新产品已在终端实现批量导入 ...