Preet Profit Growth Up 56%, Modified Plastic Production Capacity to Exceed 1 Million Tons, Solid-State Sodium Battery Under Development

On August 21, Pritte announced that in the first half of 2025, the company achieved a total operating revenue of 4,089.7786 million yuan, a year-on-year increase of 9.06%; operating profit reached 225.2672 million yuan, a year-on-year increase of 52.46%; total profit reached 225.406 million yuan, a year-on-year increase of 55.93%; and net profit attributable to shareholders of the listed company was 207.2914 million yuan, an increase of 43.94% compared to the same period last year.

In terms of business segments:

(1) The modified materials business has a total of 12 new material production bases located in Qingpu, Shanghai; Jinshan, Shanghai; Jiaxing, Zhejiang; Tongliang, Chongqing; Wuhan, Hubei; Foshan, Guangdong; Binhai, Tianjin; South Carolina, USA; Chonburi, Thailand; and Monterrey, Mexico, among which 3 bases are under construction.

The current production capacity of the company is 500,000 tons, which includes those under construction.The annual production capacity is expected to be 400,000 tons.Prit South China Headquarters and R&D Manufacturing Base Project, a 50,000-ton new materials factory in Ma'anshan, Anhui, is expected to start production in the fourth quarter of 2025; a 150,000-ton new materials factory in Binhai, Tianjin, is expected to start production in early 2026. The future annual production capacity is expected to exceed 1 million tons.

Currently, 90% of the revenue in this sector comes from automotive industry clients, while efforts are being focused on expanding into power batteries, energy storage systems, home appliances, two-wheelers, power tools, and robotics.

(2) ICT Materials Business: Currently, there is an annual polymerization capacity of 4,000 tons for LCP resin, a 5,000-ton production capacity for LCP blend modification, a production capacity of 3 million square meters for LCP films, and a production capacity of 1,000 tons (1000D) for LCP fibers. These products will have broader application demands in areas such as 6G, consumer electronics, automotive millimeter-wave radar, AI servers, brain-computer interfaces, and low-earth orbit satellites.

(3) New Energy Business: Subsidiary Highstar currently has a cylindrical annual production capacity of 2.83 GWh and a prismatic annual production capacity of 12.49 GWh, with a total annual production capacity of 15.32 GWh. During the reporting period, a 2.5 GWh cylindrical project was invested in and constructed in Malaysia.

In the field of sodium-ion batteries, the company has established Guangdong Haisida Naxing Technology Co., Ltd. The main products, 46145-15AH and 71173208-160AH, have been shipped in large quantities. The newly developed 50160118-50AH has entered the small-scale application stage. The products are widely used in energy storage, backup power, start-stop systems, and special vehicles, with signed order amounts exceeding 200 million RMB. During the reporting period, the company received an overseas customer order for sodium-ion batteries, with a total procurement volume of no less than 1 GWh of sodium-ion battery modules.

In the field of solid-state batteries, the company is planning a pilot production line for all-solid-state batteries to support future product deliveries. In the first half of 2025, at the Haishida Zhuhai base, the company achieved the world’s first mass production of 314Ah large-capacity semi-solid batteries, filling the gap in large-capacity semi-solid battery mass production in China. The company has also begun work on the development of solid-state sodium-ion batteries.