Tianan New Material(SH:603725) Zhong Guo Zheng Quan Bao·2025-10-22 20:16Core Viewpoint - Tianan New Materials has maintained steady growth in its operating performance in the first three quarters of the year, with a focus on seizing opportunities in the artificial intelligence industry and accelerating its expansion into the embodied intelligence sector to drive high-quality development [1][3]. Business Expansion in Embodied Intelligence - On October 15, Tianan New Materials signed a technical development cooperation agreement with Beijing Hashan Technology Co., Ltd., aiming to integrate material science with artificial intelligence perception technology [1]. - The collaboration focuses on overcoming technical bottlenecks in the integration of materials and perception, enhancing the properties of polymer materials to improve softness, touch, and durability [1]. - The company is exploring new materials applications in the AI field and transitioning towards intelligent manufacturing [1][2]. Strategic Transformation and Upgrading - Established in 2000, Tianan New Materials has evolved from a single material supplier to a builder of an industrial ecosystem through strategic acquisitions and integrations in the home furnishing industry [2]. - The company aims to transform from a manufacturing enterprise to a manufacturing service enterprise, emphasizing the importance of service, brand, and ecosystem in product development [2]. International Market Expansion - Tianan New Materials has begun actively expanding into overseas markets, with its subsidiary Eagle Brand opening showrooms in Melbourne and Sydney in the first half of 2025 [3]. - The company is focused on achieving technology, service, and brand globalization, aiming for a strategic upgrade from a regional leader to a global home furnishing brand [3]. Steady Financial Performance - In the third quarter of 2025, Tianan New Materials reported a revenue of 2.273 billion yuan, a year-on-year increase of 3.47%, and a net profit attributable to shareholders of 97.54 million yuan, up 21.47% [4]. - The company has experienced continuous growth in operating performance, with the third quarter net profit reaching 35.37 million yuan, a year-on-year increase of 31.12% [4]. Automotive Interior Materials Sector - The automotive interior segment has seen revenue growth of over 125 million yuan in the first three quarters, with a year-on-year growth rate of 34%, driven by increased penetration of new energy vehicles and the rise of domestic brands [4]. - The company’s ability to quickly integrate and empower acquired businesses has led to significant growth in the building fireproof panel business, with a revenue increase of 34% and a gross margin exceeding 33% [4].