On the evening of August 25th, Chinese leading manufacturer of PP/Polypropylene meltblown material for non-woven fabric SDDE Advanced Materials Technology Group
Released the 2020 semi-annual report, the company achieved operating income of 2.275 billion yuan in the first half of the year, an increase of 75.16% over the same period of the previous year; net profit attributable to shareholders of listed companies was 585 million yuan, an increase of 641% over the same period of the previous year; basic earnings per share were 1.45 yuan , An increase of 625% over the same period last year.
The sharp increase in orders for polypropylene meltblown special materials is the main reason for the company's performance growth in the first half of 2020. The outbreak of the Coronavirus (COVID-19) caused a surge in demand. During the reporting period, the daily output of polypropylene meltblown special materials increased from 120 tons to 1,200 tons, and polypropylene meltblown special materials were sent to more than 100 customers in more than 20 provinces across the country. At the same time, it received overseas orders for over 2,000 tons, which effectively improved the company’s profitability.
In the modified plastics business, in addition to the explosive growth of orders for polypropylene meltblown special materials, other modified plastics products have maintained stable development. The company has tailored differentiated products to meet the needs of modified plastics customers, and developed new energy battery industries and communications Industry and automotive interior products to overcome the adverse effects of Coronavirus (COVID-19) epidemic. In the first half of the year, modified plastic products achieved operating income of 1.878 billion yuan, an increase of 106% year-on-year, and the gross profit rate of modified plastics was 39.82%, an increase of 26.23 percentage points from the same period last year.
In the thermoplastic elastomer business, the company further expands the coverage of its high-quality customer base through the development of high-end products and consolidates its leading position in the industry for TPV products. At the same time, under the premise of ensuring service quality, a series of new products will be launched in response to market demand, and the dynamic vulcanization platform, esterification synthesis platform, and hydrogenation platform technology research and development reserves will be made to enhance the company's overall competitiveness. From January to June 2020, the company's thermoplastic elastomers achieved operating income of 182 million yuan, a slight decrease of 7.02% year-on-year, and gross profit margin reached 54.51%, an increase of 21.42 percentage points from the same period last year.
In addition, the company focused on the development of chemical fiber masterbatch, black masterbatch and degradable masterbatch, deepened the development of old customers such as Haier and Hisense, and expanded new customers. The sales volume of color masterbatch steadily increased, and the revenue of the color masterbatch segment in the first half of the year increased by 19.38 year-on-year. % To 92.71 million yuan, gross profit margin increased by 4.41 percentage points to 23.1%.
SDDE focuses on technology research and development. The research and development expenses in the first half of 2020 will be 77.59 million yuan, a year-on-year increase of 104%. During the reporting period, the company cooperated with the R&D centers in Beijing, Qingdao and Longkou to promote continuous upgrading of technology and products, strengthen project reserves and research and development of new products, and developed waterproof roll materials, special materials for breathable membranes, degradable materials, and PPS special engineering plastics , A full range of anti-abnormal noise products, blow molding/blister grade high melt strength ABS and other projects. The smooth advancement of R&D projects and new technologies and new products will reserve for sustainable growth in future performance.