Financial Performance - In the first half of 2025, the company's revenue reached 296 million CNY, representing a year-on-year increase of 27.93% [2] - The net profit attributable to shareholders was a loss of 14.31 million CNY, a decline of 153.36% year-on-year [2] - The non-recurring net profit was a loss of 16.13 million CNY, down 67.79% compared to the previous year [2] - The decline in profit is attributed to increased depreciation from fixed assets that began to be recognized in 2024 [2][3] Revenue Composition - Revenue from colored photoelectric base films accounted for 45.46% of total revenue [3] - Revenue from transparent films made up 42.62% [3] - Revenue from other functional films was 10.84%, with a decrease attributed to strategic shifts in the business focus towards window films [3] Project Updates - The carbon fiber project, initiated in Q3 2024, is currently in the critical phase of construction and equipment installation, progressing smoothly [4] Carbon Fiber Process - The carbon fiber production process involves several steps: spinning raw materials into fibers, pre-oxidation, carbonization, surface treatment, and final processing into various products [5] Application Areas - High-performance carbon fibers are increasingly used in civil aviation, 3C digital products, low-altitude aircraft, and racing, expanding the market for carbon fiber products [6] Competitive Advantages - The company focuses on technological research and development, holding key manufacturing technologies and fostering innovation through collaborations with universities [8] - It aims to enhance its product range and maintain a strong quality control system to support differentiated and functional polyester film production [8]