Gotion Shares: Multi-Business Growth!

On the evening of August 29, Guoen Co., Ltd. officially disclosed its semi-annual report. The data showed that in the first half of this year, Guoen Co., Ltd.'s profitability demonstrated a steady upward trend, with the gross profit of each of its main business segments achieving year-on-year improvement. Meanwhile, the company actively promoted the construction of the high-performance materials industry chain, especially the implementation of its 1,000-ton-per-year PEEK project, which has laid a solid foundation for future breakthroughs in the field of specialty engineering plastics.

In terms of improved profitability and core business growth, Guoen Co., Ltd. delivered an impressive performance in the first half of the year. Data shows that in the first half, Guoen’s operating revenue reached 9.754 billion yuan, representing a 5% increase compared to the same period last year. Net profit attributable to shareholders of the listed company was 346 million yuan, a substantial year-on-year increase of 26%. The net profit after deducting non-recurring gains and losses was 334 million yuan, also achieving a 26% year-on-year growth. The company’s gross profit margin reached 10.12%, an increase of 1.67 percentage points compared to the same period last year, while the net profit margin improved to 3.56%.

From the perspective of different business segments, the traditional polymer materials business has been running smoothly. In the first half of the year, the company's organic polymer modified materials business achieved a revenue of 4.914 billion yuan, a year-on-year increase of 1%, with a gross profit of 577 million yuan, a year-on-year increase of 30%. The composite materials business recorded a revenue of 1.727 billion yuan, a year-on-year increase of 1%, and a gross profit of 204 million yuan, a year-on-year increase of 24%. The green petrochemical new materials business showed significant growth, with revenue reaching 1.962 billion yuan, a substantial year-on-year increase of 26%, and a gross profit of 95 million yuan, a year-on-year surge of 51%. According to the Masterbatch Industry Network, this series of growth data reflects the company's precise layout and effective operation in each business segment.

Notably, the company announced at the end of July that its wholly-owned subsidiary, Zhejiang Guoen Chemical, has successfully obtained the approval for a 1,000-ton annual production of Polyether Ether Ketone (PEEK) project. This project will focus on creating an integrated platform covering the entire process of "polymerization - modification - product manufacturing." It includes two PEEK polymerization production lines, one styrene engineering material polymerization pilot platform, and a modified and composite material production capacity of 300,000 tons per year, with a total investment of approximately 960 million yuan.

As a high-end special engineering plastic, PEEK possesses numerous outstanding properties such as high temperature resistance, flame retardancy, chemical resistance, and high strength. Therefore, it is widely used in various strategic emerging industries including aerospace, new energy vehicles, semiconductors, humanoid robots, 3D printing, and medical fields. The company stated that this project will first seek breakthroughs in application areas with low domestic production rates and significant incremental potential. Leveraging its unique HP-RTM process and continuous fiber reinforcement technology, the company aims to build a high-end specialty materials platform with international competitiveness, benchmarking leading industry players such as Zhongyan Co., Ltd. in terms of scale.

Since 2024, in terms of integrated layout and capacity expansion, the company has continuously strengthened its control over and synergy within the industrial chain by integrating high-quality assets such as Hong Kong Petrochemical and Guoen Dongming. Hong Kong Petrochemical’s 250,000-ton/year PS project adopts the Italian Versalis continuous mass polymerization process, giving it a competitive edge in overseas markets. Guoen Dongming's styrene and propylene oxide units have achieved linkage between resin and downstream materials, laying the foundation for the company to build a complete "monomer-resin-modification-products" chain. At present, these projects are actively promoting capacity recovery, and their future growth potential is worth looking forward to.

In addition, the company's Hong Kong IPO is also progressing steadily, with the relevant filing materials accepted by the China Securities Regulatory Commission in July. The raised funds will be primarily used for the construction of the Thailand base and the technological transformation of Hong Kong Petrochemical. By leveraging the synergy between overseas production capacity and customers, the company will accelerate its layout in the global modified plastics and new materials market, further enhancing its influence and competitiveness in the international market.