东岳硅材: 2025年半年度报告

Core Viewpoint - The report highlights the financial performance and operational challenges faced by Shandong Dongyue Silicone Material Co., Ltd. in the first half of 2025, indicating a decline in revenue and profit due to market conditions and competition in the organic silicon industry [5][7][11]. Company Overview and Financial Indicators - Company Name: Shandong Dongyue Silicone Material Co., Ltd. - Stock Code: 300821 - Total Assets as of June 30, 2025: CNY 6.27 billion, a decrease of 1.52% from the end of the previous year [5][6]. - Revenue for the first half of 2025: CNY 2.33 billion, down 14.98% year-on-year [5][15]. - Net Profit attributable to shareholders: CNY 44.98 million, a decrease of 34.69% compared to the same period last year [5][15]. Industry Situation - The organic silicon market is experiencing complex supply-demand dynamics, with prices declining. The average price of DMC, a core product, fell by approximately 12% year-on-year to around CNY 12,700 per ton [7][8]. - Domestic DMC production capacity is about 3.44 million tons per year, accounting for over 70% of global capacity, with a 24% increase in apparent consumption in the first half of 2025 compared to the previous year [7][8]. Main Products and Applications - The company specializes in the research, production, and sales of organic silicon materials, including silicone rubber, silicone oil, silicone resin, and fumed silica [6][8]. - Key applications include construction, electronics, automotive, and medical fields, with silicone rubber used as adhesives and sealants, and silicone oil utilized in textiles and chemicals [8][9]. Business Model - The company adopts a market-driven approach to research and development, focusing on technological innovation and collaboration with academic institutions [9][10]. - It maintains a comprehensive supply chain and production management system, ensuring efficient operations and quality control [9][10]. Competitive Advantages - The company has a complete production capability from silicon powder processing to downstream products, enhancing its competitive edge in the organic silicon industry [11][12]. - It has established a robust marketing network and customer service system, serving over 2,000 clients across various sectors and exporting to more than 30 countries [12][13].