PRET(SZ:002324)2025-08-26 10:34Group 1: Company Overview and Financial Performance - The company achieved a total revenue of 408,977.86 million yuan in the first half of 2025, an increase of 9.06% compared to the same period last year [3] - Operating profit reached 22,526.72 million yuan, reflecting a significant increase of 52.46% year-on-year [3] - Total profit amounted to 22,540.60 million yuan, up by 55.93% compared to the previous year [3] - Net profit attributable to shareholders was 20,729.14 million yuan, marking a 43.94% increase year-on-year [3] Group 2: Business Segments and Growth Drivers - The modified materials business saw substantial growth due to a full order book and the gradual release of new production capacity, alongside breakthroughs in non-automotive markets [2][3] - The new energy business experienced a significant improvement, with a year-on-year revenue growth of 21.32%, driven by high demand for square batteries and increasing orders for sodium-ion batteries [3][4] Group 3: Future Outlook and Strategic Initiatives - The company anticipates positive impacts on its new energy segment from accelerated overseas expansion, rapid development of sodium-ion batteries, and ongoing deliveries of semi-solid batteries [4] - In the robotics sector, the company is actively collaborating with downstream clients to apply modified materials in industrial robots, focusing on lightweight applications for humanoid robots [5] Group 4: LCP Film and Fiber Developments - The company has established a comprehensive LCP resin portfolio, covering injection-grade, film-grade, and fiber-grade resins, which are essential for LCP film production [6] - Progress in LCP electronic fiber cloth has been made, with ongoing collaborations with high-frequency PCB clients to enhance product performance [8] - LCP film products are expected to see increased demand in 6G, automotive millimeter-wave radar, AI servers, brain-machine interfaces, and low-orbit satellites, with batch deliveries already initiated in certain sectors [8]