① Regarding the narrowing of net income losses, Tianjin Jiuri New Materials stated there are two reasons: first, the sales volume of photo initiators broke historical records, reaching 0.0231 million tons, with a year-on-year growth of 20.21%; ② Regarding the impact of tariffs from the USA, Tianjin Jiuri New Materials stated that exports to the USA account for about 8% of the company, and most of the company's products are not within the scope of the recent tariff increase.
On April 18, the Star Daily reported (Reporter Wu Xuguang) that Tianjin Jiuri New Materials has narrowed its losses.
On the evening of April 18, Tianjin Jiuri New Materials released its 2024 performance report, showing that during the reporting period, the company achieved revenue of 1.488 billion yuan, a year-on-year increase of 20.52%; it achieved a net income of -53.7608 million yuan, which is a 44.08% reduction in losses compared to the same period last year.
Regarding the narrowing of net income losses, Tianjin Jiuri New Materials stated there are two reasons: first, the sales volume of photo initiators broke historical records, reaching 0.0231 million tons, with a year-on-year growth of 20.21%. However, affected by the low price of photo initiators and the significant investment in the semiconductor industry, net income still recorded a loss, although the amount of loss was significantly reduced compared to the previous year; second, by adopting a diversified strategy to stabilize the existing market share and seek potential customers, its overall competitiveness has improved.
In April of this year, the USA imposed tariffs on China. Due to the fact that the main production of global photo initiators is concentrated in China, and multiple varieties are only produced in the country, there is a certain dependence of the US market on Chinese photo initiators in the short term.
Regarding the impact of US tariffs, Tianjin Jiuri New Materials stated in its earnings report that during the reporting period, the export amount to the USA accounted for about 8% of the company's revenue, and most of the company's products are not within the scope of the recent tarif increase, so the US tariff policy will not have a significant impact on the company's business.
Tianjin Jiuri New Materials further stated, "In recent years, the international situation has been complex and changeable, and the uncertainty of trade policies has gradually increased. If there are significant adverse changes in the international economic and trade environment, it may put certain pressure on the company’s product exports."
Tianjin Jiuri New Materials primarily engages in the research, production, and sales of photo initiators, monomers, and other light-curing materials, as well as photoresist and photosensitive agents for semiconductor chemicals, with products applied in industries such as electrical/electronic coatings, printed circuit board manufacturing, 3D Printing, and semiconductors.
Tianjin Jiuri New Materials' layout in the Photoresist field for Semiconductors has become a focal point of widespread market attention.
On November 19 last year, Tianjin Jiuri New Materials announced that the "Xuzhou Dajing New Materials Technology Group Co., Ltd. (hereinafter referred to as 'Dajing New Materials') annual production project of 4,500 tons of Photoresist" invested and constructed by its controlling subsidiary has now been completed, and the trial production plan has been approved by an expert group, officially entering the trial production stage on November 19.
Tianjin Jiuri New Materials stated that the aforementioned project will produce 4,000 tons of panel Photoresist and 500 tons of Semiconductors Photoresist annually, which will promote the industrialization process of its Photoresist products and achieve large-scale production.
According to the reporter from the Star Daily, in 2024, besides achieving a record high in the sales volume of light-sensitive agents, the dedicated light-sensitive agents for Photoresist and Photoresist have also realized bulk supply and generated revenue.
The company stated that it has successfully developed over 30 formulas for Photoresist products. During the reporting period, the revenue from Photoresist was 1.3424 million yuan, accounting for 0.09% of the total revenue.
Regarding the progress of the fundraising projects, Tianjin Jiuri New Materials has multiple initial fundraising project investment progress falling short of expectations and changes in the direction of fundraising projects.
Among them, regarding the reasons for the progress of the annual production project of 4,500 tons of Photoresist for the subsidiary Dajing New Materials not meeting the plan, Tianjin Jiuri New Materials stated that to meet the domestic market demand for Photoresist products and ensure the quality of the company's products, it has re-evaluated the project design plan and ideas, and made partial adjustments to the content of the project construction, resulting in delayed delivery.
