Core Viewpoint - The company, Huitian New Materials, has made significant advancements in research and development, focusing on high-growth areas such as new energy and high-end electronics, with several new products achieving market breakthroughs and contributing to revenue growth [1] R&D and New Product Progress - The company has increased its R&D investment in recent years, targeting high-growth sectors like new energy and high-end electronics [1] - Several new products have achieved market breakthroughs, contributing to revenue growth, including: - Lithium battery negative electrode adhesives (PAA and SBR) have achieved stable supply to leading power battery customers, with revenue from these products doubling year-on-year in the first half of the year [1] - Thermal conductive adhesives, UV adhesives, and PUR adhesives have passed tests from leading industry customers in consumer electronics and chip packaging, beginning to contribute to sales [1] - In the photovoltaic sector, new products like UV adhesives and water-blocking adhesives have entered the certification phase with key customers and are in small batch supply [1] - The company anticipates rapid growth in these products as production capacity is released, technology iterates, and customer collaborations deepen, which is expected to drive new performance growth [1]

Group 1: Company Performance Overview - In the first half of 2025, the company's adhesive product sales increased by 25.56% year-on-year, with total revenue reaching 216,847.45 million yuan, a growth of 7.72% [2] - The net profit attributable to shareholders was 14,251.49 million yuan, up by 4.18%, while the net profit excluding non-operating losses was 11,772.60 million yuan, reflecting a 24.64% increase [2] - The gross profit margin improved, indicating a stable development trend [2] Group 2: Business Segment Performance - The company achieved growth across four main sectors: automotive, electronics, photovoltaics, and packaging, with significant sales increases in lithium batteries, automotive electronics, and consumer electronics [3] - The automotive sector saw a doubling in sales for lithium battery products, contributing to over 30% growth in passenger vehicle business [3][4] - The electronic adhesive business grew by 23.5%, driven by rapid demand in consumer electronics and automotive electronics [5] Group 3: Future Strategies and Market Outlook - The company plans to focus on high-growth sectors, deepen collaboration with key clients, and accelerate new product launches while advancing digital transformation [3] - There is an expectation for continued improvement in the gross profit margin of photovoltaic silicone due to flexible raw material procurement and product pricing strategies [3] - The company is actively researching and developing products for solid-state batteries, although commercial production is not yet established [4][6] Group 4: Financial Management and Risk Control - The increase in sales and management expenses is attributed to necessary investments for business expansion and strategic transformation, including logistics costs and digital transformation initiatives [5] - The company has implemented a systematic approach to manage accounts receivable risks, focusing on credit management and optimizing customer structure [5]