Sunvim Expands Cross-Border Functional Coating Materials Business

Recently, sunvim, a leading cross-border paint and home textile company, updated investors on the company's current operating status and the progress of its new materials business. As the largest modern home textile manufacturer in China, sunvim has been deeply involved in the field of home textiles for many years. In recent years, in order to expand new development space and achieve sustainable corporate development, the company has focused on promoting new material businesses such as functional coating materials and lithium battery electrolyte additives to create the company's second growth curve.

In the 2023 semi-annual report, sunvim publicly disclosed for the first time its dual main business development strategy of Home Textiles & New Materials. The new materials business mainly includes functional coating materials for military and civilian use and lithium battery electrolyte additive business. Both business sectors achieved new breakthroughs. In the first half of 2023, sunvim's chemical products segment, which includes new materials business, achieved operating income of 158 million yuan, a year-on-year increase of 29.47%, accounting for 6.05% of total operating income.