ZDG(SZ:000906) Zhong Zheng Wang·2025-08-22 13:27Core Insights - The company reported a significant increase in operational volume and revenue for the first half of 2025, with a total operational volume of 67.73 million tons, a year-on-year growth of 33%, and revenue of 107.2 billion yuan, up 8.51% from the previous year [1] Business Structure Optimization - The company has optimized its business categories and profit structure, with a notable 88% increase in revenue from the energy chemical supply chain, which now accounts for 29% of total revenue, up 12 percentage points year-on-year [2] - The renewable energy sector has shown steady progress, generating revenue of 6.8 billion yuan, a 27% increase year-on-year, with 539 MW of household photovoltaic grid connections, a 97% increase from the previous year [2] - New agricultural product businesses, including oils and by-products, generated revenue of 1.5 billion yuan [2] Global Expansion - The company is actively pursuing a "going out" strategy, establishing an office in South Korea to expand steel foreign trade and leveraging the advantages of Hainan Free Trade Port for crude oil imports [3] - The company has set up a wholly-owned subsidiary in the Zhoushan Free Trade Zone, which has commenced operations, contributing to a 30.5% year-on-year increase in international business revenue, totaling 36.3 billion yuan, now representing 33.9% of overall revenue, an increase of 3.1 percentage points [3] Trade and Industry Integration - The company has deepened the integration of trade and industry, with a production of 128,000 tons of finished silk, an 8.74% increase year-on-year, and the second-phase project nearing acceptance, expected to produce 52,000 tons of automotive parts annually [4] - The company’s joint venture, Qingdao Bangtuo, processed 2.02 million tons of ore and 2.23 million tons of pellets, focusing on building a "green factory" with completed carbon footprint certification and greenhouse gas verification [4] - The Fengnan Industrial Service Complex achieved a throughput of 1.37 million tons and a processing volume of 190,000 tons, a 37% increase year-on-year, while the Deqing Industrial Service Complex has seen continuous production increases since its launch in August 2024 [4] - The overseas rubber processing business has steadily progressed, with over 24,000 tons processed in the first half of the year [4]