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Haizheng Biomaterials: H1 Revenue Hits 408 Million, 3D Printing Sales Grow 136%

Degradable and Recyclable Center 2025-08-20 16:42:11

On August 19, Haizheng Biotech (688203) released its semi-annual report for 2025. In the first half of 2025, the company achieved operating revenue of 408 million yuan, a year-on-year decrease of 5.28%; the net profit attributable to shareholders was 3.1815 million yuan, a year-on-year decrease of 87.32%; the net profit attributable to shareholders after deducting non-recurring gains and losses was 2.3461 million yuan, a year-on-year decrease of 88.82%. This was mainly due to a decrease in product prices during the reporting period, resulting in narrower profit margins, and a reduction in interest income and government subsidies compared to the previous year.

Production and Sales Situation

Haizheng Biotech’s main products are resin-form polylactic acid, which can be classified into two major types according to the production process: pure polylactic acid and modified polylactic acid.

In the first half of 2025, Haizheng produced 24,100 tons of pure polylactic acid resin, with a capacity utilization rate exceeding 80%. Sales of polylactic acid resin increased by 2.85% year-on-year, with domestic sales growing by 12.52% year-on-year. From the application perspective, the 3D printing sector saw a 136% increase compared to the same period last year; in the extrusion thermoforming sector, sales grew by 55% year-on-year.

According to data from the National Bureau of Statistics, the production of 3D printing equipment nationwide in the first half of 2025 increased by 43.1% year-on-year, continuing its rapid growth trend. 3D printing equipment mainly includes consumer-grade and industrial-grade devices, and the significant growth in the production of 3D printers in China is primarily driven by consumer-grade FDM 3D printers. Along with the growth in production and sales of 3D printers, the consumption of 3D printing materials is also rapidly increasing. Polylactic acid is currently one of the most important 3D printing materials, and other 3D printing materials include PETG (polyethylene terephthalate glycol-modified), ABS (acrylonitrile butadiene styrene copolymer), etc., each with its specific application scenarios.

Construction Status of the New Polylactic Acid (PLA) Project

The Phase I project of 150,000 tons per year polylactic acid is expected to be completed before December 2025, and the Phase II project of 150,000 tons per year polylactic acid is expected to be completed before December 2028. As of the end of the reporting period, the civil construction of the 150,000 tons per year polylactic acid project has been basically completed. The equipment installation and commissioning of the Phase I 75,000 tons per year polylactic acid production line have been completed, and the production auxiliary building, warehouse system have been put into operation, along with the allocation of personnel.

Research and Development Status

During the reporting period, the company's R&D investment amounted to 15.466 million yuan, representing a 7.35% increase compared to the same period last year. Several projects have entered the pilot stage, and some new products have gained customer recognition and generated orders.

Ongoing Projects:

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Haizheng Biomaterials: H1 Revenue Hits 408 Million, 3D Printing Sales Grow 136%

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