September 12, 2024 – As the 2024 half-year reports of various listed companies in the modified plastics industry are released, the market performance of this critical material sector, widely used in automobiles, home appliances, electronics, and other industries, is gradually emerging. According to statistics, home appliances, automobiles, and electronic electrical industries are currently the largest downstream application industries for modified plastics, accounting for 60% of the total plastic modification applications.
Among the companies that have announced their half-year reports, Kingfa Technology (600143) has stood out, achieving an operating income of 23.347 billion yuan in the first half of the year, a year-on-year increase of 14.73%. Its modified plastics business segment has sold 1.093 million tons of finished products, a significant year-on-year surge of 27.43%, setting a new half-year sales record. Guoen Shares (002768) has also delivered impressive results, with approximately 9.327 billion yuan in operating income in the first half of the year, representing a 17.58% increase compared to the same period last year. Its new energy vehicle HP-RTM process chocolate ultra-thin battery pack product has achieved mass supply to multiple leading enterprises.
However, not all companies have experienced growth. Pretech (002324) saw a year-on-year decline in both operating income and net profit in the first half of the year, decreasing by 7.34% and 28.47%, respectively. While Huitong Shares (688219) achieved an 11.45% year-on-year increase in total operating income in the first half, its strategic layout and investments in the new energy field still require further observation.
Dawn Shares (002838) maintained a stable growth trend, achieving an operating income of 2.322 billion yuan in the first half of the year, a year-on-year increase of 3.72%. All three of its main business segments achieved rapid growth in revenue. Although the net profit of Polystone Chemistry (688669) fell sharply by 95.12% year-on-year, its operating income increased by 16.56% compared to the same period last year, demonstrating a certain degree of market resilience.
In addition, companies such as Tongyi Shares (300538), Nanjing Julong (300644), Silver Age Technology (300221), and Malion New Materials (300586) have also released their half-year results, showing mixed performances. While Genstar (834166) experienced a decline in net profit despite an increase in operating income, Watertech (002886) achieved double growth in both operating income and net profit.
Both Jusailong (301131) and Hechang Polymer (832089) have also announced their half-year reports. While Jusailong saw a slight decline in net profit despite an increase in operating income, Hechang Polymer achieved steady growth in both operating income and net profit.
Overall, in the first half of 2024, the modified plastics industry exhibited diversified development trends in a complex and changing market environment. Relying on their technological strengths and market layouts, companies strive to seek breakthroughs and development in the fierce market competition. With the continuous expansion of downstream application industries and changes in market demand, the modified plastics industry will face more development opportunities and challenges.
It’s worth noting that Jiangsu, as one of the important clusters of the modified plastics industry, the market performance of its related companies has also attracted much attention. However, due to the absence of specific data on Jiangsu-based companies in the provided material, a detailed analysis cannot be conducted here. To learn more about the market performance of modified plastics companies in Jiangsu, it is recommended to review the half-year reports of relevant companies or consult industry experts.