Increase investment in 3D printing materials, Lianhong Xinke's non-recurring net profit in 2025 is expected to rise by 64.45%

Source: Taishan Finance

Taishan Finance reporter Cao Xinxin

Recently, Tengzhou listed company Lianhong New Materials Technology Co., Ltd. (abbreviated as “Lianhong New Sci”, 003022.SZ) released its 2025 annual report. According to the financial report, in 2025, Lianhong New Sci’s revenue returned to an upward growth track, recording revenue of RMB 6.338 billion, up 1.11% year over year; net profit attributable to shareholders of the listed company was RMB 306 million, up 30.40% year over year; and non-recurring items net profit (after deducting non-recurring gains and losses) increased 64.45% year over year.

In detail, new energy photovoltaic materials and new energy battery materials accounted for more than 30% of Lianhong New Sci’s revenue. Among them, revenue from new energy battery materials grew rapidly, recording revenue of RMB 455 million, up 203.55% year over year. In addition, special resins, specialty fine chemicals, biodegradable materials, and electronic materials all achieved positive revenue growth.

Notably, revenue from biodegradable materials grew rapidly, up 2041.72% year over year. In 2025, the product recorded revenue of RMB 85.57 million, with its share of total revenue rising from 0.06% to 1.35%. The related materials include PLA and PPC. PLA is widely used in fields such as 3D printing and packaging. According to data from Lianzhong Information, in 2025 the domestic PLA apparent consumption volume in China was 176,000 tons, up 42% year over year.

Lianhong New Sci stated that the company will treat bio-based materials as an important development direction. Of the 6 projects under construction, two involve biodegradable materials, with a combined book value of over RMB 8 billion, accounting for about 80% of the total projects under construction.

Entering 2025, Lianhong New Sci’s profitability rebounded clearly. In 2024, the company achieved net profit attributable to shareholders of the listed company of RMB 234 million, down 47.45% year over year; however, net profit after deducting non-recurring gains and losses was RMB 185 million, up 2.00% year over year. In 2025, Lianhong New Sci’s parent-attributable net profit increased 30.40% year over year to RMB 306 million; and non-recurring items net profit increased significantly by 64.45% year over year to RMB 303 million.

In terms of expenses, in 2025, both selling expenses and administrative expenses of Lianhong New Sci declined. Selling expenses decreased by 15.32%, and administrative expenses decreased by 7.34%. Financial expenses increased by 35.55%. Lianhong New Sci stated that the increase in financial expenses was mainly due to the increase in loan limits.

In addition, regarding R&D investment, the number of research and development personnel at Lianhong New Sci increased to 499 people. The number of master’s degree holders increased by 8, and the number of doctoral degree R&D personnel increased by 2. At the same time, R&D spending decreased from about RMB 328 million in 2024 to about RMB 300 million, a year-on-year decrease of 8.44%.

While Lianhong New Sci’s performance improved steadily, the company continued to increase the incentive strength for management. In 2025, Lianhong New Sci issued total compensation of RMB 24.8328 million to its directors and senior management, an increase of RMB 3.6622 million compared with 2024.

Among them, the total pre-tax remuneration obtained from the company by Chairman and General Manager Zheng Yueming was RMB 6.8865 million, an increase of RMB 9.285 million in annual salary compared with 2024’s RMB 5.9580 million. In addition, the compensation of the other nine executives receiving remuneration from the company also increased, with raise amounts ranging from RMB 1.162 million to RMB 8.485 million.

Zheng Yueming was born in April 1967 and graduated from East China University of Science and Technology. Early on, he worked at the Jingmen Petrochemical General Plant of Sinopec. In 2010, Zheng Yueming entered Lenovo Holding’s chemical business division, serving as general manager. In 2016, he became Chairman and General Manager of Lianhong New Materials Co., Ltd., and Chairman of the Lianhong Group. From August 2018 to the present, he has served as Chairman and General Manager of Lianhong New Sci, and Chairman of the Lianhong Group.

In 2025, Lianhong New Sci stated that based on the company’s total share capital of 1,335,568,000 shares, it will distribute cash dividends of RMB 0.70 per 10 shares to all shareholders (including tax), for a total cash dividend of RMB 93,489,760.00, accounting for 30.58% of the net profit attributable to shareholders of the listed company for the 2025 fiscal year.

Special statement: The above content only represents the author’s own views or position and does not represent the views or position of Sina Finance’s headlines. If you need to contact Sina Finance’s headlines regarding content, copyright, or other issues, please do so within 30 days after the above content is published.

A wealth of information and precise analysis—find it all in the Sina Finance app