Changhong Polymer(SH:605008)2024-11-26 08:35Financial Performance - In the first three quarters of 2024, the company achieved total revenue of 2.533 billion CNY, representing a year-on-year increase of 129.32% [2] - The net profit attributable to the parent company, excluding non-recurring gains and losses, was 74.3194 million CNY, with a year-on-year growth of 675.34% [2] Product Development and Innovation - The company has successfully launched a black masterbatch project using innovative technology, which reduces production costs while achieving both environmental and economic benefits [5] - The subsidiary, Changhong Biological, is the first in China to produce black masterbatch and carbon black using rich aromatic oil as raw material, ensuring high product quality and lower production costs [3][5] Market Strategy and Future Outlook - The company plans to replicate the black masterbatch project within its corporate system and is set to undertake a technical transformation project for 50,000 tons/year TPE black masterbatch [6] - The company is committed to responding to national policies on environmental protection and sustainable development, with plans to invest 11.5 billion CNY in a new acrylic acid industrial park project in Guangdong [5][6] Challenges and Responses - The decline in net profit in the third quarter was attributed to the full subsidiary Guangxi Changhong entering the production phase, with increased costs during market expansion [3] - The company is closely monitoring the carbon black industry dynamics and optimizing production capacity to adapt to market demand changes [6]