On August 28th, Taihua New Materials released its 2024 semi annual report. In the first half of 2024, the company achieved a revenue of 3.419 billion RMB, a year-on-year increase of 55.64%; Net profit attributable to the parent company was 424 million RMB, a year-on-year increase of 131.53%; Deducting non recurring net profit of 371 million RMB, a year-on-year increase of 202.69%; Basic earnings per share of 0.48 RMB.

In the first half of 2024, Taihua New Materials aims to become a leading enterprise in the global differentiation and high-performance nylon yarn and fabric industry, with a focus on "strong innovation, brand building, variety optimization, sales growth, flat production and sales, quality improvement, cost reduction, project management, and risk control". The company is dedicated to the research and production of nylon 6, nylon 66, nylon environmentally friendly recycled series products, and other synthetic fiber products.

In the next few years, the company will actively promote the construction of the Huai'an Taihua Green Multi functional Nylon New Material Integration Project. The project plans a total investment of 12 billion RMB and will have a production capacity of 100,000 tons of PA6 regenerated yarn, 120,000 tons of PA66 spinning, 200,000 tons of PA6 polymerization and spinning, 600 million meters of raw fabric, and 200 million meters of finished fabrics per year after full operation. At present, the first phase of the project (60,000 tons) has been put into trial production in April 2023, and the production capacity will continue to be released in the first half of 2024. In addition, the annual production of 100,000 tons of differentiated recycled nylon yarn project is imminent, which may continue to open up growth opportunities for the company.

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