百傲化学：立足主业优化经营 提升盈利能力

Core Viewpoint - The company emphasizes that sustainable and stable shareholder returns are built on high-quality and sustainable development, focusing on core business, optimizing management, and enhancing profitability [1] Group 1: Company Overview - Dalian Bai'ao Chemical Co., Ltd. specializes in the research, production, and sales of isothiazolinone industrial biocide raw materials and has been in the industry for over 20 years, becoming the largest producer of such biocides in Asia [1] - In 2024, the company transitioned into the semiconductor equipment sector through its controlling stake in Suzhou Xinhuilian Semiconductor Technology Co., Ltd. and a stake in Xinhuilian New (Suzhou) Technology Co., Ltd., establishing a dual business model of industrial biocides and semiconductor equipment [1] Group 2: Financial Performance - In the first half of the year, the company reported revenue of 749 million yuan, a year-on-year increase of 28.42%, while net profit attributable to shareholders decreased by 44.22% to 91.79 million yuan [2] - The chemical business faced challenges due to external environmental factors, weak market demand, and continuously low prices, leading to sustained pressure on profitability [2] Group 3: Business Segments - The company’s industrial biocide products are primarily exported to Asia, Europe, the United States, and South America, with overall changes remaining stable [2] - Despite the pressure on profitability in the biocide segment, there are positive signs, such as a 7.69% increase in average sales prices of biocide products in the second quarter and a 21.37% decrease in the comprehensive procurement costs of key raw materials [2] - The semiconductor equipment business, led by the subsidiary Xinhuilian, remains a core strategic direction, focusing on technology development, market expansion, and operational stability [3]