SINO-HIGH(SZ:301076)2025-10-21 08:50Financial Performance - In the first three quarters of 2025, the company achieved a revenue of 330 million CNY, representing a year-on-year growth of 7.99% [2] - The net profit for the same period was 51.53 million CNY, showing a year-on-year increase of 23.32% [2] Product Sales Composition - The sales composition of the company's main products includes: - DFBP: 40% - Photoinitiators: 18% - Cosmetic raw materials: 22% - Agricultural and pharmaceutical intermediates: approximately 20% [3] Product Pricing and Capacity - The pricing of DFBP is influenced by raw material costs and is currently at a low level due to these factors; however, production capacity is increasing, leading to gradual recovery in gross margins [4] - The demand for PEEK is growing due to its excellent properties, with applications in aerospace, medical implants, and high-end manufacturing, indicating a positive industry outlook [5] - The production and market expansion of HAP are progressing normally, with sales growth attributed to new customer acquisition and increased penetration [6] Investment Projects - The progress of the fundraising project for the third workshop (HDO) is ongoing, with equipment installation expected to be completed by December 2025 [7] Margin Improvement Factors - The recovery in product gross margins is primarily due to stable increases in capacity utilization, reduced fixed costs per unit, and a decrease in raw material prices during the first three quarters of 2025 [8]