DFD(SZ:002407)2025-08-26 10:16Financial Performance - In the first half of 2025, the company achieved a revenue of 4.328 billion CNY, a decrease of 6.65% year-on-year [2] - The net profit attributable to shareholders was 51 million CNY, down 16.55% year-on-year, with basic earnings per share at 0.04 CNY [2] - Despite increased production and sales of lithium hexafluorophosphate, the company's profitability declined due to persistently low market prices [2] Business Segment Performance - Revenue contributions from major business segments: - Fluorine-based new materials: 30.39% - Electronic information materials: 5.55% - New energy materials: 34.97% - New energy batteries: 25.30% [3] - Gross profit contributions from segments with over 10% revenue share: - Fluorine-based new materials: 8.62% - New energy materials: 19.53% - New energy batteries: 9.74% [3] Lithium Hexafluorophosphate Insights - The shipment volume of lithium hexafluorophosphate in the first half was approximately 23,000 to 24,000 tons, with an expected annual shipment of around 50,000 tons [3] - The gross margin for lithium hexafluorophosphate fluctuated between 15% and 20% [3] - Price fluctuations are primarily driven by raw material costs, with expectations for profitability to improve in the second half of the year due to rising product prices and increased capacity utilization [3] Battery Segment Developments - The battery segment shipped approximately 3.2 GWh in the first half, with a projected increase of about 50% in the second half, aiming for an annual total of 8.5 GWh [3][4] - The demand for lithium batteries is rapidly growing, with significant orders leading to production expansion [4] - In July, the company shipped over 8.8 million cylindrical batteries, with expectations to exceed 10 million in August [4] Solid-State Battery and Boron Isotope Products - The company is focusing on polymer and sulfide materials for solid-state batteries, collaborating with top domestic research institutions [4] - Boron isotope products are crucial in strategic industries such as nuclear energy, healthcare, and semiconductors, with a current production capacity of 100 tons and plans for 1,000 tons [4] - Although the current profit contribution from boron isotopes is limited, future capacity expansion is expected to significantly enhance profitability [4] Electronic Information Materials - The electronic information materials segment is currently affected by a downturn in the photovoltaic industry, leading to low capacity utilization and price challenges [5] - The company plans to pivot towards semiconductor and chip clients to enhance its market position [5]