Company Overview - Shanghai NAR Industrial Co., Ltd. focuses on digital printing materials, automotive functional films, and optical films [2][3] - The company aims to become an expert in precision coating technology and diversify its development strategy [3] Financial Performance - In H1 2025, the company achieved revenue of CNY 972 million, a 4.10% increase year-on-year [3] - Net profit reached CNY 114 million, marking a 79.15% year-on-year growth, with basic earnings per share at CNY 0.4 [3] Market Strategies - Digital printing materials: The company is expanding market share and enhancing the self-supply ratio of raw materials [3][4] - Automotive functional films: Increased R&D investment and manufacturing capacity to drive innovation and market expansion [3][5] - The company has established a marketing network with over 200 regional brand agents in China and exports to over 90 countries [4] Product Development - Automotive protective films include paint protection films, window films, and color change films, with sales through brand agents and automotive 4S stores [5] - The automotive protective film market is experiencing growth due to rising demand for electric vehicles and consumer customization [5] Future Growth Points - The company plans to maintain strategic focus on core businesses while exploring new materials, new energy, and semiconductor core components for multi-level cooperation [6][7]

Core Viewpoint - Nar Holdings (002825.SZ) reported strong performance in its precision coating business, with significant growth in net profit driven by investment gains and operational efficiency improvements [1][3]. Financial Performance - In the first half of 2025, the company achieved operating revenue of 972 million yuan, a year-on-year increase of 4.10% [1][3]. - The net profit attributable to shareholders reached 115 million yuan, marking a substantial year-on-year growth of 79.15% [1][3]. - Investment income for the period amounted to 57.95 million yuan, contributing 44.11% to the total profit [3]. Business Expansion - The company is actively expanding into overseas markets, with foreign revenue reaching 492 million yuan in the first half of 2025, accounting for 50.59% of total revenue [1][4]. - The establishment of production bases in Thailand and the smart factory in Jiangxi is aimed at alleviating capacity constraints and supporting market expansion [4]. Research and Development - R&D expenses have shown a consistent upward trend, surpassing 100 million yuan in 2024, with a 34.31% increase to 58 million yuan in the first half of 2025 [5]. - The company had plans to acquire control of Jiangxi Blue Microelectronics Technology Co., Ltd., but this investment initiative was terminated due to a lack of consensus with relevant parties [5].

Group 1 - The company sees a broad outlook for digital printing materials, automotive functional films, and optical and electronic functional films, with a focus on enhancing overseas sales and market share due to the pressure in the domestic digital printing materials market [1] - The automotive functional film market is experiencing rapid growth both domestically and internationally, and the company plans to maintain its leading position through continuous investment in R&D and marketing [1] - In the mobile phone protective film sector, the company aims to expand its revenue and market share by increasing marketing efforts and developing more original equipment manufacturer (OEM) clients [1] Group 2 - The company has established a comprehensive marketing service network in China, covering over 200 regional brand agents, to respond to market demand in the digital printing product market [1] - The company exports its products to over 90 countries and regions, collaborating with many internationally renowned companies for product and technology cooperation [1] - In the automotive functional film sector, the company has formed strategic partnerships with well-known manufacturers and emphasizes innovation and strict quality control in its product strategy [1]