Lushan New Materials(SH:603051)2023-11-30 07:52Financial Performance - In Q3 2023, the company's revenue reached 817 million yuan, a year-on-year increase of 21.49%, with a net profit attributable to shareholders of 2.7598 million yuan, marking a turnaround to profitability compared to the previous two quarters [2] - For the first three quarters of 2023, total revenue was 2.275 billion yuan, up 14.77% year-on-year, with hot melt adhesive film shipments totaling 163 million square meters, a significant increase of 89.45% [2][3] Product Performance - The sales revenue from hot melt adhesive films was 1.413 billion yuan, reflecting a year-on-year growth of 29.35%, while functional polyolefin hot melt adhesive granules saw shipments of 628,000 tons, up 16.02%, with sales revenue of 742 million yuan, a 10.34% increase [2] - The company anticipates continued growth in hot melt adhesive film shipments in 2024, driven by the rapid increase in solar power installations, which reached 128.94 GW in the first three quarters of 2023, a 145% year-on-year increase [3] R&D and Market Expansion - The company is focusing on new material market demands, particularly in the development of OCA optical adhesive films, lithium batteries, and hydrogen fuel cells, to expand into new application areas [3] - The company has established a wholly-owned subsidiary in Malaysia with an investment of 150 million yuan, aimed at producing solar photovoltaic packaging materials and related products [4] Client Base and Strategic Goals - The company targets a diverse client base, including major brands like Huawei, Apple, and Xiaomi, to establish a foundation for future business expansion [4]