ZHEJIANG HISUN BIOMATERIALS CO.LTD.(SH:688203) DT新材料·2025-08-19 16:04Core Viewpoint - The article discusses the financial performance and operational updates of Haizheng Biomaterials for the first half of 2025, highlighting a decline in revenue and profit due to reduced product prices and lower interest income and government subsidies [2][3]. Financial Performance - Haizheng Biomaterials reported a revenue of 408.21 million yuan, a decrease of 5.28% year-on-year [3]. - The total profit for the period was 9.38 million yuan, down 69.14% compared to the previous year [3]. - The net profit attributable to shareholders was 3.18 million yuan, reflecting an 87.32% decline [3]. - The net profit after deducting non-recurring gains and losses was 2.35 million yuan, a decrease of 88.82% [3]. - The net cash flow from operating activities was 18.12 million yuan, an increase of 174.86% year-on-year [3]. - As of the end of the reporting period, the net assets attributable to shareholders were 1.48 billion yuan, a decrease of 0.95% from the previous year [3]. Product and Production Updates - The main product of Haizheng Biomaterials is resin-based polylactic acid (PLA), which is categorized into pure PLA and modified PLA [4]. - In the first half of 2025, the company produced 24,100 tons of pure PLA resin, achieving a capacity utilization rate of over 80% [4]. - PLA sales increased by 2.85% year-on-year, with domestic sales rising by 12.52% [4]. - The 3D printing sector saw a significant growth of 136% compared to the same period last year, while the extrusion thermoforming sector's sales grew by 55% [4]. Project Development - The construction of a new project with an annual capacity of 150,000 tons of PLA is underway, with the first phase expected to be completed by December 2025 and the second phase by December 2028 [4]. - As of the reporting period, the civil engineering for the 150,000-ton project is nearly complete, and the first phase's production line has been installed and is operational [4]. Research and Development - The company invested 15.47 million yuan in R&D during the reporting period, a 7.35% increase year-on-year [4]. - Several projects have entered the pilot testing stage, and some new products have gained customer recognition and orders [4]. - Research is being conducted in new areas, including: - Research on isotactic composite PLA, which enhances heat resistance by over 30°C compared to conventional processes [5]. - Development of flexible biaxially stretched films that maintain transparency and biodegradability while improving toughness [5]. - Low-cost PLA-based 3D printing materials that enhance heat resistance and interlayer bonding [5]. - Skin-core structured PLA fibers that offer multifunctional properties for various applications [5].