Hengtong(SH:600226) Zheng Quan Shi Bao Wang·2025-08-25 11:15Core Insights - Hengtong Co., Ltd. reported a revenue of 818 million yuan for the first half of 2025, a year-on-year increase of 45.8%, and a net profit attributable to shareholders of 127 million yuan, up 8.91% year-on-year [1] Group 1: Business Performance - The company's revenue primarily comes from the production and sales of electrolytic copper foil, biological veterinary drugs, feed additives, and related businesses [1] - Copper foil sales increased by 131.33% year-on-year, contributing 5.53 billion yuan to the total revenue, accounting for 67.59% of the company's total revenue [1] Group 2: Product Development - Hengtong's subsidiary has developed high-value-added products such as reverse copper foil (RTF), low-profile copper foil (LP), and high-temperature extended copper foil (HTE), which have entered mass production [1] - In the lithium battery copper foil segment, the company is exploring technologies like porous copper foil and atomized copper foil, with a production capability ranging from 4.5μm to 8μm, and has mastered the production technology for 3.5μm copper foil [2] Group 3: Market Expansion - The company is expanding its overseas market presence, actively pursuing customer certifications and supplying products to clients in Taiwan, India, and Malaysia [4] - Hengtong is also focusing on the South American, Asian, African, and Middle Eastern markets for its veterinary drugs and feed additives, developing cost-effective product combinations tailored to regional market demands [4] Group 4: New Projects - A new amino acid production base is being established in Hohhot, Inner Mongolia, which will add a production capacity of 11,880 tons per year, including L-tryptophan, L-arginine, and L-isoleucine [3]