FSPG(SZ:000973) Zheng Quan Zhi Xing·2025-05-16 14:02Core Viewpoint - The company held its 2024 annual performance briefing on May 15, 2025, to provide investors with insights into its operational performance, strategic development plans, and project progress [1] Group 1: Company Performance - In Q1 2025, the company achieved a revenue of 512 million yuan, a year-on-year increase of 2.26%, and a net profit attributable to shareholders of 19.91 million yuan, up 9.98% year-on-year [2] - The company focuses on the "high polymer functional films and composite materials" industry, aiming to enhance operational efficiency and investment value through a combination of organic growth and mergers and acquisitions [2][3] Group 2: Strategic Investments - Recent key investments include the third phase of the Weida Optoelectronics polarizer project, the ultra-thin capacitor film production line at the Dongfang Electric Film subsidiary, and the upgrade and expansion of high-tech composite barrier materials at the Jingwei subsidiary [2] - The acquisition of Jinli Co. is expected to significantly increase the company's asset scale and revenue, enhancing its risk resistance and operational capabilities [2][3] Group 3: Industry Outlook - The demand for battery separators is steadily growing, supported by national policies and global energy transitions, with Q1 2025 lithium battery separator shipments in China reaching 6.45 billion square meters, showing stable year-on-year growth [2] - Jinli Co. ranks second in the Chinese wet-process separator market, with a strong competitive advantage and a focus on high-performance products [3][4] Group 4: Technological and Market Position - Jinli Co. has advanced production equipment and high production efficiency, capable of producing ultra-thin high-strength separators [4] - The company has established stable business relationships with major domestic battery manufacturers and has gained recognition in both domestic and international markets [4] Group 5: Sustainability Efforts - The company has made significant progress in low-carbon development practices, with several products receiving carbon footprint certification [4]