Meirui New Materials: The TPU market is currently in a moderate recovery stage

Recently, according to the investor relations activity record disclosed by Meirui New Materials, the TPU market is still in a moderate recovery stage and has not seen strong growth for the time being.

Main contents of investor relations activities

Introduction to 2023 Semi-annual Operating Results

In the first half of 2023, the external environment has become more complex and severe, the domestic economy is in a moderate recovery stage, and demand is still insufficient. The overall TPU market demand is relatively stable, and downstream purchases are mainly for rigid needs. In this regard,
The company actively responds, giving full play to the advantages of differentiated technological innovation to develop and promote high-performance polyurethane
New material products still achieved sales growth despite poor demand. Due to the decline in upstream raw material prices and sluggish downstream demand, the market selling price of TPU dropped year-on-year. During the reporting period, the company achieved operating income of 7.19
billion, a year-on-year decrease of 9.37%; the net profit was 51 million yuan, a year-on-year decrease of 7.79%; the net profit after excluding non-recurring gains and losses was 49 million yuan, a year-on-year increase of 9.68%.

What is the expected situation of the TPU market in the second half of the year?

At present, the market is still in a moderate recovery stage, and no strong growth trend has been seen for the time being.

How is the company’s PBS and PUR business doing recently?

The company’s PBS business and PUR business are advancing relatively smoothly. At present, the construction of sales channels has been completed and market segment development has been carried out, which is one of the company’s key development directions in the future.

PUR refers to polyurethane adhesive, which can react and solidify with water. Compared with traditional oil-based adhesives, it has no solvent and can react when exposed to air. It is an environmentally friendly adhesive. Mainly used for furniture edge sealing glue, electronic glue, textile
Glue, automotive potting glue, etc.