Core Viewpoint - Hengtong Co., Ltd. (600226) is actively engaged in the research, production, and sales of its main business areas, which include electrolytic copper foil, veterinary pharmaceuticals, feed additives, and cogeneration [1] Business Overview - The company has made investments and strategic arrangements around its main business, indicating a proactive approach to growth and diversification [1] - Hengtong and its wholly-owned subsidiaries have invested in and hold stakes in several companies, including Qingdao Yibang Bioengineering Co., Ltd. (17.45% stake), Hebei Shengxue Dacheng Pharmaceutical Co., Ltd. (49% stake), and Zhejiang Ikobike Animal Health Products Co., Ltd. (49% stake) [1]

Core Insights - Hengtong Co., Ltd. reported a revenue of 818 million yuan for the first half of 2025, a year-on-year increase of 45.8%, and a net profit attributable to shareholders of 127 million yuan, up 8.91% year-on-year [1] Group 1: Business Performance - The company's revenue primarily comes from the production and sales of electrolytic copper foil, biological veterinary drugs, feed additives, and related businesses [1] - Copper foil sales increased by 131.33% year-on-year, contributing 5.53 billion yuan to the total revenue, accounting for 67.59% of the company's total revenue [1] Group 2: Product Development - Hengtong's subsidiary has developed high-value-added products such as reverse copper foil (RTF), low-profile copper foil (LP), and high-temperature extended copper foil (HTE), which have entered mass production [1] - In the lithium battery copper foil segment, the company is exploring technologies like porous copper foil and atomized copper foil, with a production capability ranging from 4.5μm to 8μm, and has mastered the production technology for 3.5μm copper foil [2] Group 3: Market Expansion - The company is expanding its overseas market presence, actively pursuing customer certifications and supplying products to clients in Taiwan, India, and Malaysia [4] - Hengtong is also focusing on the South American, Asian, African, and Middle Eastern markets for its veterinary drugs and feed additives, developing cost-effective product combinations tailored to regional market demands [4] Group 4: New Projects - A new amino acid production base is being established in Hohhot, Inner Mongolia, which will add a production capacity of 11,880 tons per year, including L-tryptophan, L-arginine, and L-isoleucine [3]

【SynBioCon】 获 悉， 4月1日，亨通股份公告，基于战略发展规划，公司全资孙公司亨通（内蒙古）生物科技有限公司 拟投资4.67亿元建设小品种 氨基酸产业基地项目（一期） （简称"投资项目"），最终投资金额以实际投资为准。 据公告，该投资项目 建设周期预计20个月，建成后，将新增11,880吨/年氨基酸生产能力（柔性生产线），其中L-色氨酸7380吨/年（折纯）、L-精 氨酸2100吨/年（折纯）、L-异亮氨酸精品2400吨/年 。上述建设周期与规模均仅为预计，建设周期具体以项目实施进展为准，建设规模最终能否达 标存在不确定性。 亨通股份表示，本次投资项目符合国家相关产业政策及公司整体战略发展规划，落实后将有利于优化公司产品结构，完善公司氨基酸产业链布局，进一 步夯实公司主业，提升公司主要产品的市场占有率，培育新的利润增长点。 报告期内，公司主要产品 色氨酸单位成本同比下降10.32%，L-色氨酸折百产量从2023年的3186.83吨提升至4036.70吨，同比增长26.67% ，生物 科技业务经营业绩显著增长。 拜克生物2024年度实现营业收入64911.71万元，同比增长9.04%；净利润1165 ...