Core Viewpoint - Tianjin Lianlong New Materials Co., Ltd. is a leading company in the polymer materials anti-aging industry, expanding its business beyond polymer additives into three main business lines: polymer materials anti-aging, lubricant additives, and life sciences [2][3]. Business Development - The company has established three business curves: the first curve focuses on polymer materials anti-aging, the second on lubricant additives, and the third on life sciences [2]. - The life sciences business began in 2021 through a partnership with Jima Gene to form Aorife Biopharmaceutical Co., Ltd., focusing on the research, production, and sales of nucleic acid drugs [3]. Research and Collaboration - Lianlong has formed a synthetic biology research institute, led by Chief Scientist Sun Chunguang, with a team from prestigious universities such as Tianjin University and Dalian University of Technology [5][7]. - The company has established partnerships with top universities and research institutes to support early-stage research projects in fine chemical industry [7]. Future Prospects - With ongoing projects and advancements in research, Lianlong is expected to secure a significant position in the synthetic biology field [8].

Core Insights - The company, Lianlong, reported a strong performance for the fiscal year 2024, achieving a revenue of 5.687 billion yuan, a year-on-year increase of 7.74%, and a net profit of 426 million yuan, up 17.61% [2][3] - Lianlong has maintained a compound annual growth rate (CAGR) of over 24% in revenue for 14 consecutive years, driven by the synergy of its three main business lines [1][2] - The company is focusing on high-end electronic-grade polyimide (PI) materials as a new growth point, particularly in the context of "bottleneck" technologies in China [1][9] Revenue and Profit Growth - In 2024, Lianlong's operating cash flow increased significantly by 168.56%, reaching 464 million yuan, indicating improved operational quality [2] - The company plans to distribute a cash dividend of 3.70 yuan per 10 shares, totaling approximately 84.96 million yuan, which represents 19.93% of the net profit attributable to shareholders [3] Business Segments Performance - The polymer anti-aging additives segment generated revenue of 4.594 billion yuan, a growth of 5.73%, with a shipment volume of 123,600 tons, up 6.40% [4] - The lubricating oil additives segment, acquired through the strategic purchase of Jinzhou Kangtai, reported revenue of 1.064 billion yuan, a year-on-year increase of 15.40% [5][6] - The life sciences segment has transitioned to a dual-track operation model, focusing on both research and market deployment, with significant advancements in nucleic acid raw materials and molecular diagnostics [7][8] Strategic Initiatives - Lianlong has successfully completed the acquisition of the Korean company IPITECHINC., enhancing its capabilities in the PI materials sector, which is crucial for applications in flexible OLED displays and electric vehicles [9] - The company is committed to its 2.0 strategic goals, aiming for substantial revenue targets across its business lines by 2028, including 10 billion yuan for the new materials division and 4 billion yuan for the lubricating oil division [10][11]