Core Viewpoint - Kangda New Materials (002669) reported significant growth in revenue and net profit for the first half of 2025, driven primarily by the adhesive and specialty resin segments, particularly due to increased demand in the wind power industry [1] Financial Performance - The company achieved operating revenue of 2.258 billion yuan, representing a year-on-year increase of 65.75% [1] - Net profit attributable to shareholders reached 51.1737 million yuan, a substantial year-on-year growth of 190.56%, marking a turnaround from previous losses [1] - Revenue from the adhesive business, including wind power epoxy resin, was 1.987 billion yuan, showing a remarkable increase of 118.83% year-on-year [1] Asset Overview - As of the end of the reporting period, total assets amounted to 7.691 billion yuan, reflecting a growth of 10.81% compared to the end of the previous year [1] - Net assets attributable to shareholders were 2.680 billion yuan, which decreased by 1.76% from the end of the previous year [1] Business Segments - The adhesive and specialty resin new materials segment saw steady growth in product sales, significantly boosting net profit [1] - The wind power industry’s rising demand for wind blade products was identified as a key driver for the growth of this segment [1] Operational Efficiency - The company has implemented measures to optimize asset structure, enhance asset operation efficiency, and reduce management costs, which have further strengthened profitability [1]