Sunxing(SH:603978) Xin Lang Cai Jing·2025-09-10 10:33Core Viewpoint - The company has shown significant revenue growth and a notable reduction in losses, indicating a potential turning point in its financial performance [2][7]. Financial Performance - In H1 2025, the company achieved a revenue of 1.5 billion yuan, representing a year-on-year increase of 29% [1][2]. - The net profit attributable to shareholders for H1 2025 was -22 million yuan, reflecting a substantial narrowing of losses [1][2]. - In Q2 2025, the company reported a revenue of 760 million yuan, with a year-on-year growth of 15%, although it incurred a net loss of 25 million yuan, primarily due to the lithium hexafluorophosphate business [2]. Business Developments - The company has completed a 100,000-ton battery aluminum foil project by the end of 2024, which includes 10 casting and rolling production lines and 2 cold rolling production lines [3][4]. - The production line for 20,000 tons of boron trifluoride complex and 10,000 tons of boron trifluoride gas is nearing completion, with an expected launch in October 2025 [5][6]. Market Outlook - The price of lithium hexafluorophosphate has rebounded, with a current price of 56,500 yuan per ton, up approximately 15% since July 21, which is expected to positively impact the company's profitability [2]. - The high barriers to entry and the complex environmental assessment procedures for boron trifluoride production suggest a promising profit elasticity for the company [6]. Profit Forecast - The company is projected to achieve net profits attributable to shareholders of 51 million yuan, 224 million yuan, and 392 million yuan for the years 2025, 2026, and 2027, respectively [7].