华信新材：换证潮将启 绿色新材打开成长曲线

Core Viewpoint - Jiangsu Huaxin New Materials Co., Ltd. reported steady growth in key financial metrics for the first half of 2025, driven by the upgrade of the smart card materials industry and the concentrated issuance of various legal documents [1][2]. Group 1: Financial Performance - In the first half of 2025, the company achieved operating revenue of 176 million yuan, a year-on-year increase of 11.18% [1]. - The net profit attributable to shareholders was 28.45 million yuan, reflecting a growth of 5.03% year-on-year [1]. - The net profit after deducting non-recurring gains and losses was 28.08 million yuan, up 6.63% year-on-year, indicating stable overall profitability [1]. Group 2: Market Demand and Business Development - The market demand for smart card substrates began to release due to the expiration of the second-generation resident ID cards and the initiation of the third-generation social security cards [2]. - The company focused resources on supplying materials for national projects such as the "second-generation resident ID card," "Hong Kong and Macau travel permit," and "third-generation social security card," while optimizing product quality and delivery capabilities [2]. - The electronic certificate market is experiencing rapid growth globally, providing the company with opportunities to participate in early-stage R&D projects in downstream industries [2]. Group 3: Green Materials and Sustainability - The company is advancing the research and industrialization of green low-carbon materials, with significant sales growth in PC, bio-based materials, and recycled materials, all exceeding 25% year-on-year [3]. - The company has obtained certifications for recycled materials, enhancing its production and sales capabilities in environmentally friendly products [3]. - A wholly-owned subsidiary is advancing the construction of functional film material projects, with plans to introduce four fully automated production lines from Germany and Japan, expected to be operational by mid-2026 [3].