2024-08-30
classification：Company News
On August 30, 2024, Global New Material International Holdings Limited (stock code: 06616.HK) successfully held a high-profile 2024 interim results conference in Shenzhen. Mr. Su Ertian, Chairman and CEO of the Company, Mr. Zhou Fangchao，Executive Director and Vice President, Mr. Mai Xingqiang, Chief Finance Officer, Ms. Zhu Chunlin, Chief Merger and Acquisition Integration Officer, Mr. Yuan Ziyin , President of the Capital Markets Department and other core management were present. The company demonstrated its outstanding performance and strategic layout in the global market to investors, brokerage analysts and institutional investors from all over the world.
Steadily Improving Business Performance, Highlighting Market Leadership
At the press conference, Global New Material International management elaborated on the company’s operating results in the first half of 2024. The company firmly implemented the high-quality development strategy, accurately tapped the global market demand, and achieved significant performance growth. During the reporting period, the company achieved revenue of approximately RMB 774.6 million, an increase of approximately 66.8%. Net profit was approximately RMB 144.5 million, up 52.7% year on year. These excellent data not only reflected the company’s victory in the fierce market competition, but also showed its strong market leadership.
Internationalization Strategy was Accelerated, and the Global Layout Reached a New High
Global New Material International also made an important breakthrough in the global layout, and the landmark event was the successful completion of the merger and acquisition agreement with Merck’s surface solutions business. The acquisition not only accelerated the company’s internationalization process, but also laid a solid foundation for the company to fully expand the global market. In addition, the company’s deep integration with Korean CQV has shown significant synergies. In the first half of 2024, the Korean business achieved revenue of 30.68 billion KRW, an increase of 30.2%. Net profit growth rose by 490%, becoming an important driving force for the company’s overall performance growth.
Scientific and Technological Innovation Drives into the Future, and R&D Investment Reaches a New High
The company always adheres to innovation as the driving force and increases investment in scientific and technological research and development to promote high-quality development. In the first half of 2024, the company’s R&D expenditure increased by 40% year-on-year, accelerating the research and development process of new technologies and new products. The product matrix continues to be iteratively upgraded, adding 5 new series of products and 10 annual popular colors, with a total of more than 2,100 products available to the market. In addition, the company actively participated in the formulation of the national standard “Mica based insulation materials” (Part 5: Hard mica plate for electric heating equipment) and was successfully approved and implemented, demonstrating the company’s technical leadership in the industry. In the first half of the year, the company also authorized and registered a number of new patents and trademarks, further consolidating its competitive advantage in the field of technology.
Aiming at Globalization, Steadily Playing a Leading Role in Innovation
2024 is a key year for Global New Materials International to achieve global product internationalization and promote operational planning. Looking forward to the future, the company will continue to adhere to the general tone of stability while seeking progress, and fully implement the strategic plan and annual business plan. By advancing the acquisition of the global Surface solutions business, accelerating the synergies between the business segments and subsidiaries, and strengthening the integration of the international talent team, the company will gradually improve the functional structure of the Asia-Pacific headquarters. At the same time, the company will continue to increase investment in the field of research and development, with a more robust business strategy and efficient management mode, to promote the continuous optimization of production and operation, and promote the steady growth of performance.
Global New Material International is firmly moving towards a strategic transformation from a material manufacturer to a global innovation leader. The company will continue to take technological innovation as the core driving force, strengthen the global market layout, create higher value for shareholders, and bring greater contributions to society and the environment. We firmly believe that in the future of global material field, Global New Material International will occupy a more important position and write a more brilliant chapter.
