Research Express | Sinomaterials (China National Materials Technology) accepts research from China National Building Materials Group and other institutions. In 2025, net profit attributable to the parent company was 1.82 billion yuan, a year-on-year increase of 104%. Overseas expansion and specialty fibers are key focus areas.

Basic Information on Investor Activities

Core Performance Highlights: Driven by Three Main Businesses, High Growth and Significant Improvement in Profitability Indicators

At the performance briefing, the company disclosed its 2025 operating data, showing that annual revenue exceeded 30 billion yuan, a 26% increase year-over-year; net profit attributable to parent was 1.82 billion yuan, up 104%; non-recurring net profit attributable to parent was 1.28 billion yuan, up 235%. CFO Mr. Chen Zhaoxin stated that the core drivers of performance growth are the optimization of glass fiber product structure and price increases year-over-year, significant growth in wind turbine blade sales, and comprehensive improvement in the operating quality of the three main businesses (fiberglass, blades, lithium membranes). Revenue steadily increased, product structure continued to optimize, leading to notable improvements in gross margin and net profit margin.

Strategic Layout and Business Progress: Accelerating the Landing of Overseas “Second Curve” and Release of Special Fiber Capacity

Mid- to Long-term Strategy: Dual-Drive of Overseas Expansion and New Material Applications

Chairman Mr. Huang Zai-man pointed out that the company’s “14th Five-Year Plan” and future strategies clearly define two main directions: First, developing overseas markets as the “second curve,” promoting the “going out” of advantageous industries such as wind turbine blades, glass fiber, and lithium battery separators. Currently, these industries are industry leaders or top-tier companies with global competitiveness; Second, leveraging research institutes and national key laboratories to expand applications of fiber composite materials in high-end fields such as commercial aviation, new energy vehicles, hydrogen energy, wind power, and marine engineering.

Special Fiber Cloth: Capacity Planning Exceeds 100 Million Meters, Phase One Project to Commence Production in the Second Half of the Year

In response to investor concerns about the special fiber cloth business, the company introduced that Taishan Fiberglass has been researching and developing in this field for 8 years, and is currently the only domestic enterprise covering all four categories, with certification and bulk supply to leading customers. Regarding capacity, the total plan exceeds 100 million meters, including three new projects totaling 9.4 million meters. The 35 million-meter Phase One project is expected to start production gradually in the second half of 2026, with the other two projects to follow in 2027. In 2025, the company sold 19.17 million meters of special fiber cloth, and related investment projects are progressing smoothly.

Responses to Investor Focus: Improving Lithium Membrane Business, Accelerating Construction of Overseas Wind Power Bases

Lithium Battery Separator: Responding to Industry Cycles and Enhancing Competitiveness through Multiple Measures

Regarding the overcapacity and fierce price competition in the lithium battery separator industry, the company stated that in 2026, it will focus on innovation, quality improvement, and efficiency enhancement, and respond from four aspects: First, adhere to technological innovation, accelerate the R&D and mass production of high-end ultra-thin separators and new coating technologies, and take a forward-looking approach to the next-generation battery supporting products; Second, deepen cooperation with leading domestic and international battery customers, increase shipments of coated separators and energy storage fields, and steadily promote the construction of the Hungary overseas base; Third, reduce costs and improve efficiency through process optimization and raw material substitution; Fourth, scientifically control capacity release to match industry supply and demand. Currently, the company’s 5μm lithium membrane products have achieved mass production and become the main market suppliers, with the second-generation 5μm ultra-thin high-strength base membrane entering testing final stages and capable of mass production.

Wind Turbine Blades: Accelerating Overseas Base Construction to Respond to Policy Changes

Against the backdrop of global wind power installation growth, the company’s overseas market expansion has achieved significant results. The Brazil blade plant has been fully operational and delivering stably, and the Central Asia plant has officially settled and is under construction. In response to potential impacts from tax policy adjustments in some European countries, the company stated it will accelerate overseas production base construction and develop leading overseas customers, while strengthening cooperation with domestic strategic clients to increase the share of Chinese exports of blades.

Industry Competition Issues: Commitment to Steady Progress During Validity Period

Regarding the industry competition issue between China National Materials Co., Ltd. and China Jushi, which investors are highly concerned about, the company responded that the controlling shareholder China National Building Material Co., Ltd. and the actual controller China National Building Material Group Co., Ltd. have issued relevant commitments. Currently, these commitments are still valid, and related work is progressing steadily.

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Editor: Xiao Lang Express