Puratex Projects Up to 66 Growth in H1 Profits New Investments Accelerate Expansion

On July 4, Puratex announced its forecast for H1 2025 net profits to reach 200 million to 240 million RMB, reflecting a 38.88% to 66.65% year-on-year growth.

The company attributed this strong performance to the expansion of its modified materials business, which saw continued growth in the automotive sector due to new capacity releases. Additionally, breakthroughs with new clients and markets in non-automotive fields drove rapid business growth. Increased shipments of sodium-ion and semi-solid batteries also positively impacted the company’s results.

In the modified plastics segment, Puratex recently signed an investment agreement with the Guangzhou Nansha Economic Development Zone to establish a South China headquarters and R&D base for modified plastic materials. With a 10 billion RMB investment, the project will have an annual capacity of 400,000 tons and will be built in two phases:

• Phase 1 focuses on automotive-grade modified plastics, including PP, PA, ABS, and PC alloys.
• Phase 2 emphasizes high-end materials like PEEK, PPS, LCP, and carbon fiber composites, targeting emerging industries like low-altitude economy and humanoid robotics.

Notably, the LCP film products are already in development and validation stages with clients in smartphones, low-earth orbit satellites, AI, and millimeter-wave radar. While some clients have started batch deliveries, the overall sales contribution remains modest.

In the battery sector, subsidiary Haisida has ramped up its production capacity to 10 GWh, with an additional 6 GWh under construction. By Q1 2025, total capacity is expected to reach 16 GWh, of which 10 GWh is sodium-ion specific. Haisida has developed mature products for layered oxide and polyanionic materials, while Prussian blue is still under validation.

For solid-state batteries, Haisida’s Zhuhai plant has completed a 6 GWh production line, making it the first in China to transition from lab-scale to mass production. These batteries are widely used in grid storage, industrial and commercial energy storage, home storage, and telecom backup power. The facility also began mass production and delivery of its 314Ah semi-solid batteries.