Core Viewpoint - The 2025 China Coatings Industry Future Technology Development Conference was held in Suzhou, focusing on technological innovation and sustainable development in the coatings industry [1] Group 1: Industry Trends - The conference emphasized the importance of digital empowerment and innovation in coatings technology, including smart coatings and special functional coatings [1] - The meeting aimed to align with national strategic policies for industrial innovation and promote high-level technological self-reliance in the coatings sector [1] Group 2: Low-Carbon Development - Chen De presented on low-carbon emission reduction technologies and industrial practices under the dual carbon goals, highlighting explosive market growth in new energy coatings such as battery and electric vehicle coatings [2] - The core competitiveness of low-carbon coatings is defined by environmental performance, policy compliance, and circular ecology, leading to sustainable market penetration [2] Group 3: Company Strategy - The company has accelerated its layout in electronic chemicals and renewable materials, establishing a full industrial chain for carbon reduction from raw material research to end-use applications [2] - The company aims to deepen its "one body, two wings" development strategy, focusing on color technology while expanding into electronic chemicals and circular economy [2]

Core Viewpoint - The launch of the new photovoltaic coating jet technology by Nippon Paint and Tuogao represents a significant advancement in the solar energy industry, enhancing efficiency, reducing costs, and promoting environmental sustainability in the manufacturing of photovoltaic frames [1][2][3]. Industry Overview - The photovoltaic industry is experiencing unprecedented growth, driven by the continuous increase in global installed capacity, which demands higher efficiency, cost-effectiveness, and environmental standards in coating processes [2][3]. - Traditional coating technologies in the photovoltaic sector, such as air spraying and electrostatic spraying, are characterized by high VOC emissions, low paint utilization rates, and significant raw material waste, highlighting the need for innovative coating solutions [2][3]. Technological Innovation - The new photovoltaic coating jet technology improves the paint application rate from the industry average of 60% to over 95%, saving approximately 60 tons of paint per gigawatt (GW) of coating, thereby significantly enhancing paint utilization and reducing raw material costs [3]. - This technology eliminates reliance on third-party fixtures for coating photovoltaic frames, simplifies production line configurations, and ensures controlled temperature and humidity, thus enhancing coating quality [3]. - Compared to traditional spraying solutions, the new process can reduce VOC emissions by over 85%, aligning with stringent environmental regulations in China and the European Union, and supporting the creation of "zero-carbon factories" in the photovoltaic sector [3]. Product Development - The new coating technology enhances Nippon Paint's Fiberglass Composite Material Frame Coating Solution, which has been successfully applied in various extreme climate scenarios, demonstrating excellent durability and performance [4]. - The company has received multiple international certifications and awards, including the "2025 Rongge Technology Innovation Award," reflecting its commitment to quality and innovation in the photovoltaic industry [4]. Industry Collaboration - Nippon Paint is actively collaborating with industry partners to promote the industrialization of composite frames, focusing on sustainable research and development to drive innovation and cost reduction in the photovoltaic sector [5].

Core Insights - The company reported a significant increase in revenue and profit for Q1 2025, with operating income reaching 424 million yuan, a 40.50% year-on-year increase, and net profit attributable to shareholders at 50.14 million yuan, up 77.35% from the previous year [1] - The company's gross profit margin improved from 20.37% to 23.76%, while the net profit margin increased from 9.36% to 11.82%, indicating enhanced profitability [1] - The container coating business generated 309 million yuan in revenue, a 41% increase, while wind power coatings achieved sales of 114 million yuan, with a growth rate of 47% [1] Business Development - The company is expanding its application areas, aiming to replicate its success in domestic substitution in the container and wind power coating sectors [2] - The company is focused on becoming the most competitive platform enterprise in China's industrial coating sector, enhancing its core competitiveness [2] - The development and certification of ship coatings are progressing as planned, with expectations for foreign wind power manufacturers' orders to reach mass production by 2025 [1]