Core Viewpoint - Jiangsu Asia-Pacific Light Alloy Technology Co., Ltd. held a performance briefing for the first half of 2025, revealing significant information regarding its competitive advantages, market expansion, and project progress [1] Competitive Advantages - Asia-Pacific Technology is a key aluminum supplier in the automotive thermal management and lightweight system components sectors, with notable collaborations with major clients like Germany's Mahle and France's Valeo. The company expects to achieve over 3 billion yuan in revenue from global automotive and industrial thermal management system products in 2024 [1] - In the automotive lightweight system components sector, the company serves numerous domestic and international automakers, projecting nearly 3.1 billion yuan in revenue for 2024, accounting for 41% of total revenue, with some products leading in global niche markets [1] Cash Dividends - The company maintains stable cash dividends based on strong profitability and financial health. The total cash dividend for 2024 (including interim dividends) is 444,632,035.28 yuan, representing 96.06% of the net profit attributable to shareholders. For the first half of 2025, a proposed cash dividend of 123,586,267.80 yuan is planned, accounting for 59.41% of the half-year net profit [1] Market Expansion - In the first half of 2025, the company not only consolidated its automotive business but also expanded into emerging sectors such as industrial thermal management and aerospace. The main business revenue for the first half of 2025 reached 3.599 billion yuan, an increase of 8.42% year-on-year, with aluminum revenue from chassis safety systems at 1.212 billion yuan, up 11.48% year-on-year [1] Project Progress - The company is investing in the "Northeast Headquarters Production Base for Automotive Lightweight Aluminum Products (Phase I)" in Shenyang, with a total planned investment of 600 million yuan. As of the end of the first half of 2025, the construction permit has been obtained, and infrastructure preparations are progressing as planned [1] Pricing Mechanism - The company employs a pricing mechanism based on "aluminum ingot price + processing fee," organizing production according to customer orders. The aluminum ingot price is generally determined by the monthly average of high and low prices from the Shanghai Nonferrous Metals Exchange [1] Revenue and Profit Trends - Despite an increase in revenue for the first half of 2025, net profit declined due to the low gross margins of products in the market promotion phase, increased R&D expenses from multiple projects entering trial production, and higher depreciation from newly operational projects [1] Impact of Tariff Policies - The company's overseas sales accounted for 9.16% in the first half of 2025, with a small proportion directly exported to the U.S. The company plans to strengthen its core competitiveness to mitigate the impact of tariff policies [1]