Core Viewpoint - The company has achieved revenue and profit growth in the first half of 2025, demonstrating resilience against changes in the international business environment and maintaining a strategic focus [1] Financial Performance - In the first half of 2025, the company reported a revenue of 2.995 billion yuan and a net profit attributable to shareholders of 241 million yuan [1] - The net profit after deducting non-recurring gains and losses was 236 million yuan [1] Business Strategy - The company has maintained a compound annual growth rate (CAGR) of 24.59% in revenue over the past fourteen years [1] - The company employs a multi-business collaboration strategy involving "anti-aging agents + lubricant additives + life sciences" to enhance its risk resistance [1] - The company is actively planning a dual-track development model focusing on both product and capacity expansion overseas, promoting new products, new fields, and new production locations [1] Operational Focus - The company is accelerating its development in automation, information technology, and intelligence while ensuring the safety and health of its employees [1] - The company aims to achieve its annual "Big 3+1" goal through the collective efforts of all employees [1]

9月11日，与投资者同行 为价值共筑——天津辖区上市公司2025年投资者网上集体接待日暨半年报业绩 说明会在全景路演举行。 利安隆（300596）董事长、总裁李海平在活动中表示，公司马来西亚项目建设主要为更好的服务于全球 客户的产品需求，更好的服务全球客户为目的而进行的。随着高分子材料的发展，抗老化助剂每年有一 定的需求增量，马来西亚产能的规划符合下游市场的需求。 董事会秘书谢金桃回复：公司一贯坚持国内国际双循环的发展战略，通过多年的努力，已经建立了完备 的国际化营销体系，快速服务国际客户。公司出口收入占比约为42%，我们将继续依托国内和马来西亚 的研发及生产基地，更好的服务全球客户。（全景网） 本次活动 此外。还有投资者提问：针对海外市场需求复苏，公司通过参加国际专业展会获得的订单转化率如何？ 重点拓展的东南亚市场是否已建立本地化技术服务中心？ ...

Group 1: Company Performance and Financials - The company's market capitalization increased from approximately 6.8 billion CNY on January 2, 2025, to about 8.0 billion CNY on September 11, 2025, reflecting a growth of approximately 17% [4] - In the first half of 2025, the company achieved a revenue of 2.995 billion CNY and a net profit of 241 million CNY, with a net profit margin improvement attributed to product structure optimization [9] - The company has maintained a compound annual growth rate (CAGR) of over 24% in revenue for more than 14 years [9] Group 2: Research and Development - The company reported a 17.18% increase in R&D expenditure in the first half of 2025, amounting to 144 million CNY, focusing on green transformation of light stabilizers [7] - The sales revenue from nucleic acid drug synthesis raw materials increased by 222.41% year-on-year in the first half of 2025 [3] Group 3: Market Strategy and Expansion - The company has established a complete international marketing system, with export revenue accounting for approximately 42% of total revenue [4] - The company aims to enhance its market position in the renewable energy sector by developing anti-aging agents for photovoltaic components and electric vehicle parts [3] Group 4: Production and Capacity - The company is progressing with the construction of its PI project, with the main structure already topped out and equipment installation underway [8] - The company’s new production line for antioxidants has achieved a significant capacity increase compared to traditional processes [3] Group 5: Environmental, Social, and Governance (ESG) - The company has initiated various projects to align with carbon neutrality goals, including green factory certifications and EHS data management [6] - The company’s environmental investment continues to maintain a leading position in the industry [6] Group 6: Talent and Management - The company has implemented multiple employee stock ownership plans to enhance talent retention and attract new talent [4] - The management team, primarily composed of individuals born in the 1980s, has taken over daily operations and innovation efforts [4]

Company Overview - Lianlong's stock price increased by 2.11% on September 11, reaching 35.32 CNY per share, with a trading volume of 78.93 million CNY and a turnover rate of 1.02%, resulting in a total market capitalization of 8.11 billion CNY [1] - The company specializes in the research, production, and sales of polymer material anti-aging chemical additives, with its main revenue sources being light stabilizers (36.68%), antioxidants (30.41%), lubricant additives (18.70%), U-pack (10.79%), and others (3.35%) [1] Financial Performance - For the first half of 2025, Lianlong achieved operating revenue of 2.995 billion CNY, representing a year-on-year growth of 6.21%, and a net profit attributable to shareholders of 241 million CNY, up 9.60% year-on-year [2] - Since its A-share listing, Lianlong has distributed a total of 450 million CNY in dividends, with 243 million CNY distributed over the past three years [3] Shareholder Information - As of June 30, Lianlong had 17,700 shareholders, a decrease of 0.29% from the previous period, with an average of 12,587 circulating shares per shareholder, down 0.45% [2]

9月9日，利安隆盘中下跌2.14%，截至13:48，报34.71元/股，成交1.13亿元，换手率1.44%，总市值79.70 亿元。 分红方面，利安隆A股上市后累计派现4.50亿元。近三年，累计派现2.43亿元。 责任编辑：小浪快报 资料显示，天津利安隆新材料股份有限公司位于天津市南开区华苑产业区开华道20号F座20层，成立日 期2003年8月8日，上市日期2017年1月19日，公司主营业务涉及高分子材料抗老化化学助剂的研发、生 产、销售及相关服务。主营业务收入构成为：光稳定剂36.68%，抗氧化剂30.41%，润滑油添加剂 18.70%，U-pack10.79%，其他3.35%，生命科学0.06%。 利安隆所属申万行业为：基础化工-化学制品-其他化学制品。所属概念板块包括：OLED、新材料、柔 性电子、融资融券、智能眼镜等。 截至6月30日，利安隆股东户数1.77万，较上期减少0.29%；人均流通股12587股，较上期减少0.45%。 2025年1月-6月，利安隆实现营业收入29.95亿元，同比增长6.21%；归母净利润2.41亿元，同比增长 9.60%。 资金流向方面，主力资金净流出605.68万元，特大 ...

5 September 2025 | 6:14PM HKT Rianlon (300596.SZ): Asia Leaders Conference 2025 — Key Takeaways: Scope for margin recovery; more favorable S/D We hosted Rianlon's management at our GS Asia Leaders Conference 2025 on Sep 4. Bottom line: 1) Polymer stabilizers saw improved industry supply-demand dynamics this year on industry capacity closures together with steady demand, and management expects the segment's GPM to further recover to a normalized level of 30%+ (vs. 20+% currently); 2) management guides for +M ...

Core Viewpoint - The company has shown growth in both revenue and net profit in the first half of 2025, driven by the expansion of its lubricant additive segment and the successful implementation of differentiated products in the polymer materials sector [1][2][5]. Financial Performance - In H1 2025, the company achieved revenue of 3.0 billion yuan, a year-on-year increase of 6.2%, and a net profit attributable to shareholders of 240 million yuan, up 9.6% year-on-year [1]. - In Q2 2025, the company reported revenue of 1.51 billion yuan, representing a year-on-year growth of 3.3% and a quarter-on-quarter increase of 2.2%. The net profit for the same period was 133 million yuan, up 18% year-on-year and 23.6% quarter-on-quarter [1]. Product Segment Analysis - The polymer materials anti-aging additives segment generated revenue of 2.36 billion yuan in H1 2025, a year-on-year increase of 3.1%, with a gross margin of 23.7%, down 0.7 percentage points. The shipment volume was 66,000 tons, up 4.3% year-on-year [2]. - The lubricant additives segment achieved revenue of 620 million yuan in H1 2025, a year-on-year increase of 18.5%, with a gross margin of 13.5%, up 5.5 percentage points. The shipment volume was 34,000 tons, up 18.3% year-on-year [2]. Market Expansion and New Projects - The company has initiated an overseas capacity expansion plan, establishing a wholly-owned subsidiary in Singapore and planning to invest up to 300 million USD in a research and production base in Malaysia for anti-aging and lubricant additives [3]. - The lubricant additives segment has seen successful collaboration with major international and domestic companies, enhancing production capacity and operational efficiency [3]. Industry Trends and Demand Drivers - The demand for anti-aging additives and lubricant additives is expected to rise due to the growth of the AI industry, particularly in data centers and robotics, where specialized materials are required to ensure durability and performance [4]. - The company is positioned to benefit from the increasing need for high-performance materials in various applications, including electronics and robotics [4]. Profit Forecast and Investment Outlook - Revenue projections for the company are 6.45 billion yuan in 2025, 7.67 billion yuan in 2026, and 8.42 billion yuan in 2027, with net profits expected to be 510 million yuan, 600 million yuan, and 710 million yuan respectively, indicating a positive growth trajectory [5].

Group 1 - The report highlights that SAIC Motor Corporation achieved a total revenue of 299.59 billion yuan in H1 2025, representing a year-on-year increase of 5.2%, while the net profit attributable to shareholders was 6.02 billion yuan, a decrease of 9.2% [4][5] - The company reported a significant increase in non-recurring net profit, which reached 5.43 billion yuan, up 432.2% year-on-year, indicating strong operational performance despite challenges [4][5] - The sales volume of SAIC Motor's vehicles in H1 2025 was 2.053 million units, an increase of 12.4% year-on-year, with a notable 40.2% increase in new energy vehicle sales [5][6] Group 2 - Shenzhou Taiyue's H1 2025 revenue was 2.685 billion yuan, down 12.05% year-on-year, with a net profit of 509 million yuan, reflecting a decline of 19.26% [11][12] - The gaming segment contributed 75.53% of total revenue, with a significant drop in revenue from major titles, indicating a need for new product launches to drive growth [12][13] - The company is expected to enter a three-year product cycle from 2025 to 2027, with multiple new games set to launch, which could enhance revenue streams [12][14] Group 3 - Lemon Film's H1 2025 revenue reached 401 million yuan, a remarkable increase of 108.5% year-on-year, with a net profit of 10.82 million yuan, compared to a loss in the previous year [17][18] - The growth was driven by overseas distribution and short drama business expansion, alongside effective cost control measures [18][19] - The company is positioned as a leader in the long drama industry, with strong content production capabilities and a focus on overseas and short drama markets [21][22] Group 4 - Jinshi Resources reported a revenue of 1.726 billion yuan in H1 2025, a year-on-year increase of 54.24%, primarily due to the release of production capacity in fluorochemical products [23][24] - The company faced a net profit decline of 24.74% due to operational challenges and increased costs associated with mining projects [24][25] - The strategic shift towards global resource integration is expected to yield long-term benefits, with projected revenues of 3.727 billion yuan in 2025 [27][28] Group 5 - Zhongke Chuangda's H1 2025 revenue was 3.299 billion yuan, up 37.44% year-on-year, with a net profit of 158 million yuan, reflecting a growth of 51.84% [29][30] - The smart IoT business saw a remarkable growth of 136%, becoming the fastest-growing segment, while the smart automotive and software businesses maintained steady expansion [30][31] - The company is expected to continue leading in the edge AI sector, with projected revenues of 6.533 billion yuan by 2027 [35] Group 6 - Sound Group Inc. achieved a total revenue of 1.358 billion yuan in H1 2025, a 46.9% increase year-on-year, with a net profit of 68 million yuan, marking a turnaround from losses [39][42] - The audio entertainment segment remains the core revenue driver, while AI-related services are expected to enhance growth potential [39][40] - The company is focusing on user engagement and content creation to improve monetization and user retention [41][42] Group 7 - Beautiful Field Medical Health reported a revenue of 1.459 billion yuan in H1 2025, a 28.2% increase year-on-year, with a net profit of 171 million yuan, reflecting a growth of 35.5% [44][45] - The growth was driven by an increase in active members and the expansion of health services, particularly in the sub-health sector [45][46] - The company is expected to maintain a strong growth trajectory, with projected revenues of 3 billion yuan by 2027 [46]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][9][17] Core Views - The company is expected to benefit from the growth in the lubricant additive sector and the demand for anti-aging additives driven by the AI industry chain explosion [2][8] - The company has shown a year-on-year revenue growth of 6.2% in H1 2025, with a net profit increase of 9.6% [2][3] - The company is positioned as a leader in the domestic anti-aging additive market, with significant growth potential from new production capacities and international expansion [9][4] Financial Performance - In H1 2025, the company achieved operating revenue of 3.0 billion yuan, with a net profit attributable to shareholders of 240 million yuan [2] - The gross profit margin for sales was 21.6%, showing a slight increase of 0.2 percentage points year-on-year [2] - In Q2 2025, the company reported operating revenue of 1.51 billion yuan, a year-on-year increase of 3.3% and a quarter-on-quarter increase of 2.2% [2] Product Segments - The anti-aging additive segment generated revenue of 2.36 billion yuan in H1 2025, with a gross margin of 23.7%, although it saw a decline of 0.7 percentage points year-on-year [3] - The lubricant additive segment achieved revenue of 620 million yuan in H1 2025, with a gross margin of 13.5%, an increase of 5.5 percentage points year-on-year [3] Market Expansion - The company has initiated an overseas capacity expansion plan, establishing a wholly-owned subsidiary in Singapore and planning to invest up to 300 million USD in Malaysia for a new research and production base [4] - Collaborations with major international lubricant additive companies are progressing well, enhancing the company's market presence [4] Future Projections - Revenue projections for 2025-2027 are 6.45 billion, 7.67 billion, and 8.42 billion yuan respectively, with net profits of 510 million, 600 million, and 710 million yuan [9][11] - The company is expected to maintain a strong growth trajectory, supported by new production capacities and market expansion efforts [9]

Core Viewpoint - The aerospace industry heavily relies on high-performance materials to ensure efficiency, safety, and sustainability, with increasing demand for engineering plastics that can withstand extreme conditions while being lightweight and durable [2]. Group 1: Aerospace Materials - Advanced plastics are crucial for optimizing logistics and reducing waste in aerospace applications, including reusable transport packaging and pallets [2]. - The current engineering plastics used in aerospace include PC, PA, PEEK, PEAK, LCP, PI, and ABS, each serving specific functions such as cabin covers, gears, bearings, and engine components [2]. - High-performance polymer materials are fundamental to modern aerospace equipment, significantly contributing to the lightweighting of aerospace gear [2]. Group 2: Future Developments - The next generation of aerospace plastics will push the limits of possibilities, driven by advancements in composite materials, automation, and AI in manufacturing [3]. - The 2025 Polymer Industry Annual Conference will feature a presentation on the application of high-performance polymer materials in the aerospace industry, highlighting the importance of collaboration among enterprises [3][6]. Group 3: Conference Details - The 2025 Polymer Industry Annual Conference will take place from September 10-12 in Hefei, focusing on emerging industries such as AI, low-altitude economy, and aerospace [6]. - The conference aims to explore new opportunities in materials, technology, and equipment across various sectors, inviting international leading enterprises and industry experts [6].