YUXING(SZ:300305)2025-04-30 06:16Group 1: Company Overview - Jiangsu Yuxing Film Technology Co., Ltd. focuses on the research, production, and sales of functional polyester films, becoming one of the largest producers in China [1] - The company maintains a leading position in the domestic market for solar backsheet polyester films and has a high market share in electrical insulation polyester films and composite base films [1][2] Group 2: Market Strategy and Product Development - In response to industry demand changes, the company is focusing on electronic optical polyester films, achieving a production volume of 37,230 tons and sales of 28,743 tons in 2024, representing year-on-year growth of 90.28% and 84.34% respectively [2] - The company is enhancing its product structure by developing high-value-added new products and optimizing its management capabilities to improve overall economic efficiency [2][5] Group 3: Industry Challenges and Responses - The demand for photovoltaic polyester films has significantly decreased due to technological iterations in photovoltaic cells, leading to a substantial drop in production and sales [2] - The company is adapting by increasing production and sales of electronic optical polyester films and modifying production lines originally intended for photovoltaic applications to enhance production capabilities for electronic optical films [4] Group 4: Future Growth and Strategic Initiatives - The company is extending its operations along the polyester industry chain, focusing on upstream functional polyester and downstream offline coating processing [4] - The implementation of national policies promoting equipment upgrades and recycling is expected to boost demand for electronic optical and battery insulation polyester films [5] Group 5: Financial Policies and Shareholder Returns - The company has a dividend policy that mandates a cash distribution of no less than 30% of the distributable profits when conditions are met, with a cumulative cash dividend of 38.75 million yuan in 2022 [6][7] - Future efforts will focus on improving operational performance to enhance dividend returns for shareholders [7]