Financial Performance - The company achieved a turnaround with a net profit of 50 million CNY for the first half of 2025, compared to a loss of 55.51 million CNY in the same period last year, representing a year-on-year growth of 188.48% to 197.33% [2][3] - The sales volume of adhesive and specialty resin products steadily increased, driven by strong demand in the wind power sector, particularly for wind turbine blade products [2][3] Wind Power Sector - The company maintains the leading market share in the domestic wind turbine blade structural adhesive segment [3] - In 2024, sales of wind turbine blade epoxy structural adhesive reached over 40,000 tons, while epoxy infusion resin sales reached 45,000 tons, with consistent growth over the past three years [3] Acquisition of Chengdu Zhongke Huami Technology Co., Ltd. - The acquisition aims to expand into the semiconductor integrated circuit field, integrating high-quality assets in the special integrated circuit sector [6][7] - Post-acquisition, Zhongke Huami will be included in the company's consolidated financial statements, expected to provide new revenue and profit growth points [7] Strategic Development - The company plans to leverage its existing semiconductor materials industry to accelerate its strategic transformation towards the semiconductor integrated circuit industry [7] - The strategic layout aligns with national industrial policy and supports the company's long-term development goals [7] Electronic Specialty Resins - A new subsidiary, Kang Cheng Da Chuang (Shanghai) New Materials Co., Ltd., is being established to develop electronic-grade resins for applications in high-speed copper-clad laminates and BT substrates [7]

Core Viewpoint - The company, 康达新材, is expected to achieve significant profit growth in the first half of 2025, with net profit projected to increase by 165.71% to 174.12% year-on-year, driven by strong demand in the wind power sector and improved operational efficiency [2][3]. Group 1: Financial Performance - The company forecasts a net profit of 39.1 million to 44.1 million yuan, excluding non-recurring gains, and a profit attributable to shareholders of 50 million to 55 million yuan, reflecting a year-on-year growth of 188.48% to 197.33% [2][3]. - Non-recurring gains are expected to be around 11 million yuan, primarily from the disposal of subsidiary equity, government subsidies, and dividends from associated companies [3]. Group 2: Business Development - The adhesive and specialty resin materials segment has seen steady sales growth, particularly in wind turbine blade products, which are a key driver of business growth due to increased demand in the wind power industry [3]. - The company has maintained its leading market share in the domestic wind turbine blade structural adhesive sector and has established a comprehensive supply system for core products [3]. Group 3: Strategic Initiatives - The company is pursuing external acquisitions to enhance its electronic technology segment and transition towards the semiconductor industry [4]. - An acquisition agreement has been signed to acquire at least 51% of 成都中科华微电子有限公司, which specializes in high-reliability integrated circuit products [4][5]. Group 4: Product Development - The company’s subsidiary has completed small batch verification of aluminum oxide target materials for integrated circuit manufacturing, and is currently testing cerium oxide CMP polishing liquids [5].