国信证券-卫星化学-002648-2025年上半年归母净利润同比增长33%,高端新材料成长可期-250813

Core Viewpoint - The company's net profit attributable to shareholders is expected to grow by 33.4% year-on-year in the first half of 2025, with performance generally meeting expectations [1] Financial Performance - In the first half of 2025, the company achieved revenue of 23.46 billion yuan, representing a year-on-year increase of 20.9%, and a net profit attributable to shareholders of 2.74 billion yuan, reflecting a year-on-year growth of 33.4% [1] - The company's non-recurring net profit attributable to shareholders was 2.90 billion yuan, also showing a year-on-year increase [1] Segment Performance - The company's revenue from various segments in the first half of 2025 includes: functional chemicals (12.22 billion yuan), high polymer new materials (5.24 billion yuan), new energy materials (300 million yuan), and other businesses (5.69 billion yuan) [1] Future Development - The company is investing 25.7 billion yuan in a new high-end material industrial park project in Lianyungang, which aims to overcome "bottleneck" technologies in high-end new materials [1] - The first phase of the project has already commenced construction, indicating a commitment to future growth [1]