Huitian New Materials(SZ:300041) Zheng Quan Shi Bao Wang·2025-08-19 13:21Core Insights - The company, Huitian New Materials, reported a steady growth in its main adhesive products, with sales reaching approximately 160,000 tons, a year-on-year increase of 25.56% [1] - For the first half of 2025, the company achieved operating revenue of 2.168 billion yuan, a year-on-year growth of 7.72%, and a net profit attributable to shareholders of 143 million yuan, up 4.18% year-on-year [1] Group 1: Business Performance - The company has successfully increased its market share and customer base in key business areas despite challenging external conditions [1] - Revenue from lithium battery adhesives doubled year-on-year, with sales in the transportation sector reaching approximately 650 million yuan, a growth of about 34% [1] - The electronic and electrical business saw a sales volume increase of approximately 29%, while packaging adhesives revenue grew by 15% with improved gross margins [1] Group 2: Product Development and Innovation - The company is focusing on new product development in high-growth areas, including automotive electronics and lithium battery adhesives, with significant collaborations established with leading global automotive parts manufacturers [1][2] - Research and development expenses amounted to approximately 85.22 million yuan, a year-on-year increase of 17.39%, with 22 new key R&D projects initiated [2] - The company has obtained 6 new invention patents and filed 11 new applications, indicating a continuous increase in new product sales revenue [2] Group 3: Financial Stability - As of June 30, 2025, the company's debt-to-asset ratio was 54.19%, a decrease of 1.97 percentage points from the end of 2024 [3] - The EBITDA interest coverage ratio improved to 6.55 times, up from 5.72 times at the end of 2024, reflecting a solid financial foundation [3]