FSPG Hi-Tech Co Ltd

FSPG Hi-Tech announced on the evening of September 3 that it plans to invest in two major green high-end separator projects in Shaoguan, Guangdong and Wu'an, Hebei through its wholly-owned subsidiary Hebei Jinli New Energy Technology, with a total investment of approximately 7.158 billion yuan. It also plans to raise no more than 4 billion yuan through a private placement for project construction and supplementary working capital. The Shaoguan base project, with an annual capacity of 4 billion square meters of wet-process separators, has a total investment of about 3.347 billion yuan, while the Wu'an base project, with an annual capacity of 4 billion square meters of coated separators, has a total investment of about 3.811 billion yuan. Jinli New Energy has achieved stable mass production of 5-micron separators and established long-term cooperation with multiple leading battery customers. Its performance commitments for 2025 to 2027 require non-GAAP net profit of no less than 230 million yuan, 360 million yuan, and 610 million yuan respectively. The controlling shareholder Guangxin Group will participate in the private placement to consolidate control. In the first half of 2026, FSPG Hi-Tech reported revenue of 3.877 billion yuan, up 259.61 percent year on year, and net profit attributable to the parent of 905 million yuan, up 1,608.12 percent year on year, mainly because Jinli New Energy has been consolidated since February 2026.

FSPG Hi-Tech released its interim report on August 28, 2026. During the reporting period, total operating revenue was 3.877 billion yuan, up 259.61% year-on-year, and net profit attributable to the parent company was 905 million yuan, a sharp year-on-year increase of 1608.12%. Net cash inflow from operating activities was 224 million yuan, up 105.20% year-on-year. The asset-liability ratio was 51.14%, gross margin was 32.55%, return on equity was 9.55%, and diluted earnings per share was 0.41 yuan. The number of shareholders was 107,800, and the top ten shareholders held 48.33% of the total share capital.

FSPG Hi-Tech disclosed its interim report on August 27. In the first half of 2026, it achieved operating revenue of 3.877 billion yuan, up 259.61% year on year. Net profit attributable to shareholders of the listed company was 905 million yuan, up 1608.12% year on year. Basic earnings per share were 0.4096 yuan. During the reporting period, Jinli New Energy became a wholly owned subsidiary of the company and has been included in the consolidated statements since February 2026. This optimized the business layout and product structure, created a new growth point in the lithium battery separator segment, and drove a significant increase in the company's asset scale, operating revenue and profit.

At an investor communication meeting held on July 30, FSPG stated that the company will anchor its vision of becoming a leading enterprise in the polymer functional films and composite materials industry by deepening three core initiatives. First, deepen industrial layout, focusing on advantageous tracks such as lithium battery separators, biaxially oriented films, and optical films. Second, strengthen innovation drive, concentrating on key technology breakthroughs and product iteration. Third, optimize operational efficiency, promoting the deep integration of digitalization with research and development, production, and operations. Regarding the integration progress of Jinli New Energy, the company has incorporated Jinli New Energy's lithium battery separator business into its 15th Five-Year strategic plan, and is advancing integration in areas such as financial funding, corporate governance, digital management, brand image, and safety and environmental protection. As for the development trends of lithium battery separators, FSPG believes that ultra-thin high-strength separators are the main development direction. Jinli New Energy holds a dominant market share in this niche segment and has already made forward-looking deployments in product directions related to solid-state batteries.

Foshan Plastics Technology recently announced at an investor communication meeting that it has completed the full acquisition of Jinli New Energy and fully launched business integration. Company vice president and board secretary He Shuixiu stated that the lithium battery separator business has been incorporated into the company's 15th Five-Year strategic plan. While maintaining the relative independence and stability of Jinli New Energy's management team, integration is being advanced across multiple dimensions including financial capital, corporate governance, digital management, brand image, and safety and environmental protection. Chief financial officer Zhang Jinghe pointed out that through capital increases in Jinli New Energy and coordination of bank credit lines, its financing structure has been effectively optimized and overall financing costs reduced. Looking ahead to the 15th Five-Year period, the company will focus on advantageous tracks such as lithium battery separators, biaxially oriented films, and optical films, strengthen innovation-driven development, concentrate on breakthroughs in key technologies like ultra-thin high-strength separators, and promote deep integration of digitalization with research and production. Jinli New Energy holds a dominant market share in the ultra-thin high-strength separator niche market and has made early technical reserves in cutting-edge directions such as ultra-high-porosity support membranes for solid-state batteries, semi-solid composite coated separators, and all-solid-state electrolyte membranes.