Changhong High-tech's revenue and net profit increased double, and the benefits of black masterbatch and carbon black projects were outstanding.

On September 2, Changhong High-Tech announced its 2024 semi-annual financial report on the evening of August 30. The report shows that the company achieved revenue of 1.585 billion yuan in the first half of the year, a surge of 134.39% over the same period last year. At the same time, net profit attributable to parents reached 97 million yuan, a year-on-year increase of 16.14%, while net profit deducted from non-parent income achieved an astonishing growth of 23070.13%, reaching 71 million yuan.

Regarding this significant growth in performance, the company pointed out that it was mainly due to the excellent economic benefits achieved by its subsidiary Changhong Biotech in black masterbatch and carbon black projects. According to the Carbon Black Industry Network, Changhong Biological is the first company in China to use aromatic oil as raw material to produce black masterbatch and carbon black. The company has mastered a unique process technology that can effectively remove all impurities in raw materials, thereby ensuring that the black masterbatch and carbon black products produced have superior quality on the market. This technological advantage makes Changhong Biotech's products not only of high quality, but also keep production costs and energy consumption at a low level.

It is worth mentioning that Changhong Biotech has also achieved effective utilization of resources during the production process. Its black masterbatch and carbon black units produce steam and tail gas during production. These tail gas are directly used to replace the natural gas originally required by the PBAT/PBT production unit, while the self-produced steam can directly replace externally purchased steam. This recycling of internal resources not only reduces the company's production costs, but also greatly improves energy utilization efficiency. In view of the success of this project, Changhong Hi-Tech now plans to promote and replicate this black masterbatch project within the listed company system, with a view to further expanding market share and profitability in the future.