Core Insights - Wharton Technology Co., Ltd. hosted a research meeting with Guolian Fund to discuss various aspects of the company's performance in the first half of the year, including membrane business, reverse osmosis membrane localization rate, overseas operations, and production capacity [1] Group 1: Financial Performance - The profit growth in the first half of the year was primarily driven by an increase in reverse osmosis membrane sales, particularly high-margin products like seawater desalination membranes, which contributed significantly to the gross margin [1] - The company reported that its actual production capacity is currently at full capacity, meeting market demand, and that the design capacity disclosed in the annual report is conservative [1] Group 2: Business Operations - The membrane materials are applied in various downstream industries, including coal chemical, power, metallurgy, food, pharmaceuticals, and municipal water treatment, with no single industry accounting for more than 10% of revenue [1] - Overseas revenue accounts for approximately 30% of total revenue, with the company primarily collaborating with local distributors and gradually building its own overseas after-sales service team [1] Group 3: Production Capacity - The company has the ability to enhance production capacity through equipment upgrades, improved production efficiency, and increased automation, with expansion plans dependent on market demand [1] - The production base has surplus space, allowing for the rapid initiation of new production line construction, ensuring that capacity will not become a sales bottleneck [1]