According to the mid-2023 report, the company's main income was 473 million yuan, down 5.80% from the same period last year; the net profit from home was 18.7464 million yuan, up 36.19% from the same period last year; deducting 15.003 million yuan from non-net profit, up 23.47% from the same period last year; of which 2023Q2, the company's main income was 265 million yuan, up 5.28% from the same period last year; net profit from home was 13.9676 million yuan, up 158.61% from the same period last year The deduction of non-net profit was 12.2616 million yuan, up 122.64% from the same period last year. Affected by the gradual improvement of the prosperity of the 23Q2 downstream clothing industry, textile industry, printing and dyeing industry, 23Q2 dye sales gradually stabilized, 23H1 business income narrowed year-on-year decline; affected by the decline in upstream raw material prices, product gross profit margin increased, net profit increased year-on-year.

The company is mainly engaged in dye research and development, production and sales, is a large domestic professional dye manufacturer. The company's main business is the research and development, production and sales of dyes and dye intermediates, the main products are reactive dyes, used for textile dyeing and printing. The company is a professional dye manufacturer in the forefront of the industry, with strong R & D and technical capacity, and has formed a large production and sales scale. At present, the company has more than 30 series and more than 400 varieties of reactive dye products, and has become a professional dye manufacturer with a comprehensive range of reactive dye products and varieties in China.

Continuously improve the company's product categories, and further enhance the market competitiveness. According to the semi-annual report, the company's investment projects "Fine Chemical products Phase I Project", "Annual output of 15000 tons of Environment-friendly High-grade disperse Dyes Project", "Annual output of 2000 tons of Textile Digital Printing Ink and 1000 tons of Ink-jet Printing Ink High Purity pigment Project" are all under construction and preparation. After the completion of the above projects, the company's product categories have become more perfect, and the external dependence of dye intermediates has been greatly reduced. The industrial chain has been extended and expanded, and the market competitiveness has been further improved.

Speed up industrial transformation and create new profit growth points. In the current trend of digital and intelligent development, artificial intelligence and visual computing have become core technologies with a wide range of applications and huge demand. Under the background of the sharp increase in market demand for computing power driven by new technology, and based on strategic planning, the company plans to set up a wholly-owned subsidiary in Nanshan District of Shenzhen City, which is mainly engaged in advanced computing service projects. it mainly includes computing power supply, computing power scheduling, scene application expansion and so on. At the same time, it is proposed to set up a shareholding company to be responsible for the commercial operation of computing assets, including the operation and maintenance of AI computing center, the research and development of intelligent management platform, the project promotion of scene requirements and solutions, and so on.

Risk tips: the risk of new production capacity in the market; the risk of lower-than-expected demand in the downstream market; the risk that the production schedule of projects under construction is not as expected; the risk of a substantial increase in raw material costs