Core Insights - Shanghai Narl Industrial Co., Ltd. hosted a specific research event with 12 institutions, discussing company development, product business, performance, competitive strategies, and future profit growth points [1] Financial Performance - In the first half of 2025, the company achieved revenue of 972 million, a year-on-year increase of 4.10%, and a net profit of 114 million, a year-on-year increase of 79.15%, with basic earnings per share of 0.4 yuan [1] Competitive Strategy - The company has established a marketing service network with over 200 regional brand agents in China for its digital printing products, selling to over 90 countries and regions, and collaborating with many internationally renowned companies [1] - In the automotive functional film market, the company has formed strategic partnerships with well-known manufacturers to drive innovation in the invisible car film industry [1] Product Diversification - The product range includes automotive paint protection films, automotive window films, and color change films, with sales channels through brand agents, automotive 4S shops, and original manufacturers [1] Future Growth Prospects - The company aims to continue its long-term strategy to strengthen its core business, seeking profit growth through digital printing materials, automotive functional films, optical and electronic functional films in 2025 [1]

Core Viewpoint - The company held its 2024 annual online performance briefing, achieving a 100% response rate to investor questions, indicating strong engagement with shareholders [1] Financial Performance - In 2024, the company achieved operating revenue of 1.9 billion, a year-on-year increase of 27.73% - Net profit reached 128 million, reflecting a year-on-year growth of 31.19% - Basic earnings per share were 0.38 yuan, demonstrating steady growth in both revenue and profit [2][3] Market Strategy and Product Development - The company is enhancing its marketing system and has established a nationwide service network with over 200 regional brand agents to adapt to market demand changes [2] - In the automotive functional film sector, the company has formed strategic partnerships with well-known manufacturers to drive innovation and maintain product quality [2] - The company plans to explore new materials, renewable energy, and semiconductor core materials to create a second growth curve [3] Industry Outlook - The digital printing materials and automotive functional film markets have significant growth potential, with the domestic market under pressure but international opportunities expanding [3] - The company aims to leverage its overseas factories to increase export efforts and market share [3] - The overall industry performance shows a clear divide, with leading companies investing heavily in R&D and gaining market share [3][4] Cash Flow Management - The company's operating cash flow net amount decreased in 2024 but remained consistent with the net profit level, indicating stable cash management [4] - In the first quarter of 2025, the company's cash flow was normal, and improvements in cash flow are expected as large customer payments stabilize [4]