Core Viewpoint - Amway Co., Ltd. reported a slight decline in revenue for the first half of 2025, but managed to achieve a modest increase in net profit, indicating resilience in a challenging external environment [1][2] Group 1: Financial Performance - The company achieved operating revenue of 1.099 billion yuan, a year-on-year decrease of 2.40% [1] - The net profit attributable to shareholders was 93.2516 million yuan, reflecting a year-on-year increase of 0.91% [1] - The basic earnings per share were 0.4361 yuan, up by 0.90% compared to the previous year [1] - The company's non-recurring net profit was 88.5725 million yuan, showing a year-on-year growth of 5.53% [1] Group 2: Business Development - There was a rapid growth in automotive interior orders, contributing to an increase in revenue share [1] - Orders for high-end functional shoe materials, represented by Nike, also saw significant growth, with collaborations with brands like Adidas and New Balance [1] - Sofa and home furnishing orders stabilized after a period of decline [1] - The company is actively exploring new growth areas in semiconductor and embodied intelligence sectors [1] Group 3: R&D and Product Performance - Research and development investment reached 77.5376 million yuan, accounting for 7.05% of operating revenue, an increase of 0.09 percentage points year-on-year [1] - Sales of high-tech, high-value-added products in sports, electronics, and automotive interiors expanded, increasing their revenue share [1] - The average selling price of main products increased by 7.4% year-on-year, with the gross margin for ecological functional products at 26.68%, up by 0.12 percentage points from the previous year [1] Group 4: International Operations - Amway's operations in Vietnam showed positive results, with sales revenue increasing by 66.34% year-on-year [2] - The company reduced losses by 5.774 million yuan compared to the previous year [2] - Two production lines were scheduled to be commissioned in August 2025, enhancing the production capacity for polyurethane synthetic leather and composite materials to 18 million meters annually, which will help meet downstream brand customer demands more quickly [2]

Core Viewpoint - Amway Co., Ltd. has adjusted its production strategy in Vietnam by changing the planned construction of two wet production lines to two dry production lines, resulting in a total of four dry production lines to better meet market and customer demands and improve economic benefits [1] Group 1 - Amway Vietnam's four production lines will have an annual production capacity of 18 million meters for polyurethane synthetic leather and composite materials once fully operational [1] - As of the end of 2022, two dry production lines in Amway Vietnam were in trial production [1] - The remaining two dry production lines have recently completed equipment installation, debugging, and trial production, and have officially commenced operations [1]

Core Viewpoint - Amway Co., Ltd. has officially launched the remaining two dry production lines at its subsidiary in Vietnam, enhancing its production capacity and competitive edge in the market [1] Group 1: Company Developments - The remaining two dry production lines at Amway (Vietnam) Material Technology Co., Ltd. have completed installation, debugging, and trial production, and are now in full operation [1] - With all four dry production lines operational, the company will achieve an annual production capacity of 18 million meters of polyurethane synthetic leather and composite materials [1] Group 2: Market Impact - The expansion of production capacity is expected to help the company increase sales and improve its competitive position in the market, leading to better economic benefits [1]

Group 1 - The company held its 2024 annual performance briefing on April 17, featuring key executives and an interactive Q&A session with investors [1] - The company emphasizes brand leadership and innovation as growth drivers, focusing on key clients, TPU materials, and the new energy vehicle sector for future growth [2] - The company is actively collaborating with Nike, which is seen as a significant growth opportunity in the functional footwear materials sector [2] Group 2 - TPU polyurethane composite materials are identified as a new growth driver, with applications in functional footwear, electronics, and bags, and the company aims to increase its market share in this area [2] - The rapid development of new energy vehicles is creating a demand for eco-friendly interior materials, providing opportunities for polyurethane synthetic leather and composite materials to replace traditional materials [2][3] - Established in 1994, the company is the largest producer of ecological functional polyurethane composite materials in China and has a diverse client base including major international brands [3]