Senior(SZ:300568) Xin Lang Cai Jing·2025-08-20 08:42Group 1 - The company's performance in H1 2025 met market expectations, with revenue of 1.9 billion yuan, a year-on-year increase of 15%, and a net profit attributable to shareholders of 100 million yuan, a year-on-year decrease of 59% [1] - In Q2 2025, the company reported revenue of 1.01 billion yuan, with a quarter-on-quarter increase of 7% and a year-on-year increase of 13%, while the net profit attributable to shareholders was 50 million yuan, showing a quarter-on-quarter decrease of 60% but a year-on-year increase of 15% [1] - The company expects to maintain a 25% growth in shipments for 2025, with an estimated shipment of 50 billion square meters by the end of the year [1] Group 2 - The company is developing solid-state battery membrane products, including oxide composite and polymer composite solid-state electrolyte membranes, and has signed a strategic cooperation agreement with Ruigu New Materials to jointly develop high-performance solid electrolyte membranes [2] - In Q2 2025, the company's operating cash flow improved significantly, reaching 750 million yuan, an 11% increase quarter-on-quarter, while capital expenditure was 180 million yuan, a decrease of 13% year-on-year [2] - The company maintains profit forecasts for 2025-2027, with net profits expected to be 400 million, 510 million, and 690 million yuan respectively, corresponding to a PE ratio of 41x, 33x, and 24x [2]