Plit, Soars By 80.8%!

On October 27, Preet released its third quarter 2025 performance report. During the reporting period, the company's operating revenue was 6.79 billion yuan, an increase of 18.3% year-on-year; the net profit attributable to the parent company was 325 million yuan, an increase of 55.4% year-on-year; the net profit attributable to the parent company, excluding non-recurring items, was 323 million yuan, an increase of 68.3% year-on-year.

In the third quarter, the company's operating income was 2.70 billion yuan, an increase of 35.7% year-on-year; net profit attributable to shareholders was 118 million yuan, an increase of 80.8% year-on-year; net profit attributable to shareholders excluding non-recurring items was 119 million yuan, an increase of 92.8% year-on-year.

The company is mainly engaged in the research and development, production, sales, and service of polymer new materials and their composites, as well as lithium-ion batteries, sodium-ion batteries, solid-state batteries, and system integration. The company's business segments are primarily divided into three major directions: modified materials business, ICT materials business, and new energy business. In the new energy sector, the company focuses on lithium batteries as the foundation and considers sodium-ion batteries and solid-state batteries as key strategic development directions for the future.

In terms of business division, in the modified materials sector, the company has established a global production network in this field. It has set up 12 new material production bases (including 3 under construction) in Qingpu and Jinshan of Shanghai, Jiaxing of Zhejiang, Tongliang of Chongqing, Wuhan of Hubei, Foshan of Guangdong, Binhai of Tianjin, as well as overseas locations such as South Carolina in the USA, Chonburi in Thailand, and Monterrey in Mexico.

The current annual production capacity is 500,000 tons. Under construction projects include a 400,000-ton Pritch South China headquarters and R&D production base, a 50,000-ton factory in Ma'anshan, Anhui, set to be operational in the fourth quarter of 2025, and a 150,000-ton factory in Tianjin Binhai, scheduled to start production in early 2026. The future annual production capacity is expected to exceed 1 million tons.

In the ICT materials business, a large-scale production capacity has been established: an annual capacity of 4,000 tons of LCP resin polymerization, 5,000 tons of LCP blending modification, 3 million square meters of LCP film, and 1,000 tons (1000D) of LCP fiber.

The product will be widely used in the future in fields such as 6G, consumer electronics, automotive millimeter-wave radar, AI servers, brain-computer interfaces, and low-orbit satellites, with a broad demand space.

In the new energy business, the subsidiary Haidars leads the new energy sector, with a current annual lithium battery production capacity of 15.32GWh (2.83GWh cylindrical + 12.49GWh prismatic). During the reporting period, a 2.5GWh cylindrical battery project was initiated in Malaysia.

In the field of sodium-ion batteries, the subsidiary Guangdong Haisida Sodium Star Technology has achieved bulk shipments of the 46145-15AH and 71173208-160AH products, while the 50160118-50AH has entered small-scale applications. The signed orders exceed 200 million yuan, and they have also received overseas orders for no less than 1GWh of sodium-ion battery modules, with applications covering energy storage, backup power, start-stop systems, and special vehicles.

In terms of solid-state batteries, the company plans to establish a pilot line for all-solid-state batteries. In the first half of 2025, it aims to achieve mass production of 314Ah large-capacity semi-solid-state batteries at the Haida Zhuhai base (filling a domestic gap) and will also initiate the development of solid-state sodium-ion batteries. Currently, semi-solid-state batteries are in the mass production stage.