MIM业务成业绩增长引擎 东睦股份上半年营收净利双增

Core Viewpoint - Dongmu New Materials Group Co., Ltd. reported significant growth in revenue and net profit for the first half of 2025, driven by its focus on new material technologies and market expansion [1] Financial Performance - The company achieved operating revenue of 2.93 billion yuan, a year-on-year increase of 24.51% [1] - Net profit attributable to shareholders reached 261 million yuan, up 37.61% year-on-year [1] - The net profit excluding non-recurring gains and losses was 250 million yuan, reflecting a growth of 40.61% [1] Business Strategy - The company is focusing on three new material technology platforms: P&S, SMC, and MIM, to provide optimal solutions and value-added services for the new energy and high-end manufacturing sectors [1] - Dongmu is committed to continuous market expansion and internal technological innovation to achieve stable performance growth [1] MIM Technology Platform - The MIM technology platform has shown significant revenue growth, becoming a key driver of the company's performance [1] - MIM business revenue reached 1.207 billion yuan, with a year-on-year increase of 57.26% [1] - The consumer electronics sector accounted for approximately 82.16% of MIM revenue, while medical and automotive sectors contributed 3.89% and 8.33%, respectively [1] Acquisition Strategy - Since entering the MIM sector in 2020, the company has strategically enhanced its control over Shanghai Fuchi High-Tech Co., Ltd. to strengthen its position in the MIM industry [2] - The company plans to acquire an additional 34.75% stake in Shanghai Fuchi for 735 million yuan, increasing its ownership to 99% [2] - The acquisition will be supported by a fundraising initiative targeting specific investors, with 361 million yuan allocated for technology upgrades and production expansion [2] Market Expansion Potential - The MIM technology has matured in traditional sectors but holds potential for expansion in AI, computing, and robotics [3] - The company aims to enhance its MIM technology applications beyond consumer electronics and is focusing on breakthroughs in material technology [3] - Dongmu has invested in a company specializing in titanium and titanium alloy powders, which will aid in promoting its products in various sectors [3]