The company achieved revenue of 698 million yuan in the first half of the year, an increase of 20.67% over the same period last year; operating profit of 7.67 million yuan, an increase of 126% over the same period last year; and achieved net profit attributable to owners of the parent company of 376.373 million yuan, an increase of 213.89% over the same period last year, and EPS 0.09 yuan.

The company successfully reversed its losses

The company has the largest BOPP (bidirectional stretched polypropylene film) production line in Asia. In the first half of this year, demand in the film market for consumer goods packaging was low, BOPP production capacity was excessive for a long time, competition was fierce, and it was difficult. However, the application fields of the company's BOPET (bidirectional stretched polyester film) products continued to expand, especially in the fields of solar energy and optics, which led to a marked increase in demand. In particular, exports surged, achieving export revenue of 114 million yuan, an increase of 64.78% over the previous year. Prices also rose all the way up, and efficiency increased dramatically. Operating profit of 7.67 million yuan was achieved in the first half of the year. Compared with the loss of 29.45 million yuan in the same period last year, the main business successfully reversed losses.

Land collection and storage contribute most of the profits

The company achieved net profit of 37.64 million yuan in the first half of the year, of which the Hefei Land Reserve Center received and stored the company's industrial land compensation of 59.27 million yuan. After deducting related expenses, it achieved revenue of 28.34 million yuan, far exceeding the net profit contributed by the main business.

Entering the nanomaterials field becomes a new growth point for the company's future profits

The company established Guofeng New Non-Metallic Materials Co., Ltd. in a joint venture to carry out deep processing of high-quality mineral resources based on the advantages of non-metallic mineral resources in the province. Currently, it already has an annual output of 300,000 tons. The market prospects are promising, and it will become a new profit growth point for the company.

With the improvement of the plastic film industry, the company's profits will increase in the future, and we will give the company a “recommended” rating.