Company Overview - The company specializes in various types of photoresists and coatings, focusing on PCB photoresists and UV-curable electronic materials, with a strategic shift towards photovoltaic (PV) adhesives and environmentally friendly coatings [2][3]. Product Development and Revenue Structure - The company’s revenue from PCB photoresists and 3C coatings is approximately CNY 400 million, benefiting from the growth in the electronics industry driven by AI [2][3]. - Revenue from PV insulation adhesives has reached around CNY 50 million, with expectations for significant growth as the market for PV BC batteries expands [3][5]. - The company recorded CNY 50 million in revenue from functional films and metal packaging coatings in 2023, with projections of CNY 60 million in the first three quarters of 2024 [3]. - The heavy-duty anti-corrosion coatings segment is expected to see scale sales in 2025, following successful trials and product testing [3][5]. Market Trends and Projections - The PV BC battery market is projected to grow from approximately 10 GW to over 50 GW by 2025, with the company positioned as a leading supplier of PV insulation adhesives [4][5]. - Major players in the PV sector, such as Longi Green Energy and Aiko Solar, are expanding production capacity, which will further drive demand for the company’s products [4][5]. PCB Industry Insights - The PCB industry is expected to grow steadily, with a projected CAGR of 3.8% from 2024 to 2027, driven by increased demand from AI and electronic products [10]. - PCB photoresists accounted for 52.56% of the company’s total revenue in the first half of 2024, highlighting its importance as a core business area [10][12]. Operational Improvements - The company has optimized its asset management by consolidating production bases, reducing operational costs, and enhancing efficiency [14]. - Staff optimization has led to a reduction in personnel from over 700 to around 500, improving productivity [14]. Innovation in Heavy-Duty Anti-Corrosion Coatings - The company is focusing on high-performance, environmentally friendly heavy-duty anti-corrosion coatings, utilizing graphene technology to enhance product effectiveness [15][17]. - The development of these coatings addresses industry pain points related to frequent maintenance and environmental regulations, positioning the company for future growth in this sector [16][17].