Research Brief | Guibao Technology Hosts 32 Institutions Including Xianggu Asset, Projects 2025 Revenue of 3.75B Yuan, Up 18.75% Year-over-Year, Breakthrough in Silicon-Carbon Anode

Overview of the Investor Performance Briefing

Chengdu Guibao Science & Technology Co., Ltd. (hereinafter referred to as “Guibao Technology”) held its 2025 annual performance briefing on March 30, 2026 in the form of an online research visit. The briefing attracted 32 institutional participants, including Orcus Asset Management, Hu’an Securities, Northeast Securities, Tianfeng Securities (rights protection), Jinguang Securities, and others. Senior executives including General Manager Huang Qiang, Vice President Zhang Chengxi, Vice President and Secretary to the Board of Directors Li Yuanyuan, Financial负责人 Li Song, and other executives attended and engaged in in-depth communication with investors regarding the company’s 2025 operating performance, progress across various business segments, and future plans.

2025 Operating Performance: Revenue and Profit Both Grew—Firmly Staying Among Industry Leaders

Guibao Technology’s overall operating performance for 2025 hit a new historical high. According to the announcement, the company achieved full-year operating revenue of RMB 3.75B, up 18.75% year over year; net profit attributable to shareholders of listed companies was RMB 279 million, up 17.25% year over year. Sales volume reached 307.3k metric tons, up 25.35% year over year, continuing to firmly maintain its leading position in China’s organosilicon sealant adhesive industry.

The company stated that in 2025, through technological innovation, capacity construction, and deep integration with Jiangsu Jiagood, it built a diversified product system covering high-end organosilicon sealant adhesives, hot-melt adhesives, silane coupling agents, silicon-carbon anode materials, and more—providing material support for pillar industries such as construction, automotive manufacturing, and new energy.

Progress in Core Business Segments: Construction Adhesives Stay Strong as a Leader—Industrial Adhesives Break Through Across Multiple Fields

Construction Adhesives: Leadership Solidified—Standout Applications in Key Projects

As the company’s traditional advantage business, construction adhesives recorded a sales volume of 168.7k metric tons in 2025, up 12.4%, and generated sales revenue of RMB 307.3k, with year-on-year growth that was slightly positive. Although product pricing declined due to falling prices of organosilicon raw materials and intensified market competition, the company successfully applied its products in multiple key projects, including Shenzhen Qianhai · Huafa Ice and Snow World, Shanghai LEGO Land Resort, Xiong’an Financial Center, Huawei Shanghai R&D Base (Qingpu), and others, and was included in the Ministry of Housing and Urban-Rural Development’s list of applicable building materials products for the “Good Homes” initiative, becoming the only organosilicon sealant adhesive brand on the list.

Industrial Adhesives: Rapid Growth Across Multiple Fields—Import Substitution Advantages Are Clear

In 2025, industrial adhesives achieved sales revenue of RMB 921 million, up 11.44%, showing strong performance in areas including electronic batteries, automotive manufacturing, and electric power.

• Electronic batteries: Deepened cooperation with leading customers such as BYD, CATL, ZTE, DJI and others. The advantages of import substitution for materials such as heat dissipation and encapsulation were obvious, and sales revenue grew rapidly.
• Automotive manufacturing: Brought in foreign benchmark customers such as ZKW (Austria) and Mobis (South Korea), deepened cooperation with companies including Seres, Yutong Bus, Valeo (France), and others, and continued to increase market share.
• Electric power: Benefiting from the construction of ultra-high-voltage transmission and transformation and upgrades to grid equipment, sales revenue grew steadily; in the photovoltaic sector, sales volume declined year over year due to falling industry prices.

Jiangsu Jiagood: Performance Commitment Exceeded—Hot-Melt Adhesives Achieve Another Record High

As a wholly owned subsidiary, Jiangsu Jiagood is a leading company in the hot-melt adhesive industry. In 2025, it achieved operating revenue of RMB 168.7k, up 3.86%; net profit was RMB 67.3616 million, up 36.56%. In its consolidated financial statements, the parent company Suzhou Jiagood’s non-recurring profit/loss after deduction (扣非) net profit for 2025 reached RMB 78.2366 million, far exceeding the performance commitment target. By the end of 2025, Suzhou Jiagood’s cumulative non-recurring profit/loss after deduction (2024–2025) was RMB 128 million, having completed 98.07% of the net profit commitment accumulated over three years.

Silicon-Carbon Anode Materials: Accelerated Capacity Construction—Technical Breakthrough Enables Scaled Sales

The 50k-ton-per-year silicon-carbon anode and specialized adhesive project at Guibao (Meishan) New Energy Materials Co., Ltd. is progressing smoothly. In 2025, it has built and put into stable operation 3,000-ton-per-year silicon-carbon anode production lines, developed series products with specific capacity of 1800~2200 mAh/g and first-cycle efficiency not less than 92%, and reached advanced industry standards. At present, new silicon-carbon products have entered the supply chains of multiple leading battery companies. In 2026, the company plans to further build 7,000-ton-per-year silicon-carbon anode production lines to accelerate industrialization.

2026 Plan: Focus on Main Business Synergies—Sprinting Toward the RMB 1.55B Target

The company will position 2026 as a key year for moving toward the RMB 1.07B goal. It plans to deepen strategic coordination with Jiangsu Jiagood, accelerate the release of production capacity at the base, and focus on the industrialization of silicon-carbon anode materials. At the same time, it will continue to advance digital transformation and product R&D innovation, actively expand overseas markets, and build global risk-resilience capabilities through a diversified sales network, striving to achieve rapid growth in sales scale.

Regarding overseas trade risks, the company stated that it will reduce the impact of tariffs and exchange-rate fluctuations by enhancing brand competitiveness, adjusting pricing strategies, and strengthening cost control.

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