Zhejiang Wanfeng Chemical Co. Ltd. A

Wanfeng Co., Ltd. disclosed its 2026 semi-annual report. In the first half of the year, it achieved operating revenue of 342 million yuan, up 24.21 percent year on year; net profit attributable to the parent company of 33.05 million yuan, up 31.45 percent; and non-GAAP net profit attributable to the parent company of 32.48 million yuan, up 33.12 percent. All three core indicators achieved relatively rapid growth. Operating cash flow fell 89.70 percent year on year, mainly due to a reduction in accounts receivable at the end of the previous year and credit terms granted to customers. The company's technical upgrade project for 10,000 tonnes of disperse dye per year began trial production in March and was completed in June, raising total capacity from 10,000 tonnes per year to 20,000 tonnes per year. First-half sales volume reached 7,018.22 tonnes, up 30.22 percent year on year. The reduction-cleaning-free dye jointly developed with Donghua University can cut energy consumption and pollutant emissions by about 30 percent each and lift capacity by 20 to 30 percent, with a clear volume ramp-up in the first half. The company also launched a polyimide new materials project, with a planned first-phase investment of 150 million yuan to build annual capacity of 3,000 tonnes of dianhydride monomer, 2,000 tonnes of diamine monomer, and 5,000 tonnes of resin, and has acquired a 54 percent stake in Hangzhou Sumate Technology, extending its growth momentum into new materials.