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Zhang Lu, reporter of Yangtze Business Daily Pentium News

With the increasing number of related orders, the operating performance of Huaqin Technology (688281.SH), a leading company in special functional materials, continues to improve.

On August 12, Huaqin Technology released its semi-annual report, achieving operating income of 485 million yuan in the first half of the year, a year-on-year increase of 27.04%; net profit of 216 million yuan, a year-on-year increase of 17.44%; basic earnings per share of 1.11 yuan.

Regarding the improved performance in the first half of the year, Huaqin Technology stated that it was mainly due to the increase in orders for mass production models and small-batch trial production of new products. The current production and sales volume increased steadily compared with the same period last year, which led to a year-on-year increase in the company's revenue and profitability.

As a provider of special functional materials products and related services, Huaqin Technology was founded in 1992 and listed on the Science and Technology Innovation Board in 2022. The company's products are mainly used in the military application field of the national defense science and technology industry. It is also one of the very few high-tech enterprises in China that can fully cover the design, research and development and production of special functional materials at room temperature, medium temperature and high temperature.

After years of development, Huaqin Technology has a rich product line reserve and has made certain progress in stealth materials, camouflage materials, protective materials, and acoustic metamaterials.

In terms of performance, since its listing, Huaqin Technology's annual revenue and net profit have maintained a growth trend. From 2020 to 2023, the company achieved revenue of 414 million yuan, 512 million yuan, 672 million yuan, and 918 million yuan, respectively, with year-on-year growth of 254.44%, 23.68%, 31.37%, and 36.45%, respectively; and achieved net profits of 155 million yuan, 233 million yuan, 333 million yuan, and 335 million yuan, respectively, with year-on-year growth of 246.63%, 50.61%, 42.99%, and 0.48%, respectively.

The reporter of Yangtze Business Daily Pentium News noted that since 2024, Huaqin Technology has signed major contracts one after another to prove the prosperity of the industry, and the company currently has a full order book. On July 4 this year, Huaqin Technology voluntarily disclosed an important daily operating contract, which is a batch production project sales contract with a total amount of 132 million yuan. If the contract can be successfully executed, it will have a significant positive impact on the company's performance. It is understood that the subject of this contract is the batch production of stealth materials by Huaqin Technology.

It is worth mentioning that this is the third important contract announced by Huaqin Technology in 2024. Previously, Huaqin Technology announced the signing of two stealth material sales contracts on January 17 and 30, 2024, with amounts of 310 million yuan and 332 million yuan respectively. The cumulative amount of these three important contracts reached 774 million yuan, and it is expected that these contracts will have a positive impact on the current performance.

In fact, in recent years, Huaqin Technology has vertically expanded the aviation engine industry chain based on special functional materials, and laid out intelligent processing and manufacturing of parts, ceramic-based composite materials, etc. According to Huaqin Technology's first-half financial report, the business and fundraising projects of many subsidiaries of the company will enter a critical stage in the second half of this year.

In addition, Huaqin Technology has a number of core technologies with independent intellectual property rights, which gives it an industry first-mover advantage. In the first half of this year, the company invested 33.02 million yuan in research and development, accounting for 6.81% of its total revenue. As of the end of the first half of 2024, Huaqin Technology has obtained a total of 67 invention patents and 18 utility model patents.