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REDAVENUE ENWS | 2021-06-01

The operating profit of Red Avenue New Materials in the first quarter of 2021 hits a record high

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Today Red Avenue New Materials Group Co., Ltd. (Red Avenue New Materials) held a performance briefing for 2020 and the first quarter of 2021. Previously, Red Avenue New Materials disclosed its annual report for 2020 and its report for the first quarter of 2021 on the website of the Shanghai Stock Exchange on April 16, 2021 and April 21, 2021 respectively.

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Management Reviews

 

The development of Red Avenue New Materials in the future firmly relies on the concept of "materials make the earth better", and insistently carries out the development strategy of the company. While continuing to expand the R&D and promote production and sales of automobile/tire special materials, Red Avenue New Materials responds to the national strategy of breaking the containment, takes the historic opportunity of domestic substitution to layout the field of electronic materials, and follows the trend of environmental protection to develop the field of biodegradable polymer materials and terminal product manufacturing.

 

“In the first quarter of 2021, with the strong support of all parties, Red Avenue New Materials achieved a high performance, firmly established the advantages of a platform-based enterprise that promotes multiple businesses at the same time, benefits each other, and accelerates business layout with pragmatic development and steady expansion as the starting point , Using the powerful two-wheel drive of “intension + extension” in expanding production capacity and continuous industrial mergers and acquisitions to enhance business performance. This will enhance the business performance and lead the company to become a multi-format leading ecological enterprise and to achieve the determination of leaping development,” said Jianhui Zhou of Red Avenue New Materials.


We set off in 2021 at the beginning of a strong momentum. The following work in 2021 requires us to make more efforts to keep the performance and the high development, to continue the strategic cooperation with customers in the automotive/tire specialty materials and to expand the market and further increase the market share. In terms of electronic materials, we further consolidate the foundation for photoresist development. In addition to expanding our business scale, we have to increase the construction of electronic materials research and development platforms, and strengthen our research and development capabilities in electronic-grade resins, key photoresist materials, and electronic material application development. Cooperation with the comprehensive research and development strengthens the upstream resin, display panel and semiconductor photoresist, accelerates the layout of higher-level technology products, and strives to become a leader in domestic substitution of electronic materials in China. In terms of biodegradability, we actively will participate in the designation of industry standards, make full use of BASF authorized company’s global leading full set of PBAT equipment and proprietary technology, and accelerate the production and construction of PBAT projects. We are striving to become an international leading company with a complete grasp of the core technologies in polymerization, modification and end application, and the production of biodegradable plastics.

  

About Red Avenue New Materials

 

Red Avenue New Materials (stock code: 603650.SH) is mainly engaged in businesses of the research and development, production, sales and related trade of new materials, and is a leading global comprehensive service provider for new materials. At present, it has a number of lean manufacturing plants and national laboratories and R&D centers in Beijing and Shanghai, and its business scope covers more than 40 countries and regions around the world. Through the all-around extension of the industrial chain, it has further diversified its products and highlighted its cost advantages, continued to consolidate the scope of customer cooperation and expand the market share of global sales. And through collaboration with the upstream and downstream industries, it is committed to the full range of products, services, research and development. Therefore, it has established a long-term cooperation model centered on customer needs. As the world's leading new material comprehensive solution provider, Red Avenue New Materials adheres to the development strategy of "one body and two wings": "One body" means a special material for automobiles/tires, and "Two wings" layout new business electronic materials and biodegradable materials. With the coordinated development of the three business segments, Red Avenue New Materials takes the task, that material innovation leads high-end manufacturing, as its own responsibility, promotes the goal, that sustainable future development, and makes a modest contribution to the steady rise of China's material innovation.

For more information, please visit our website: www.rachem.com

 

This document is purely a briefing and is not intended to provide a complete description of related matters. For relevant information, please refer to the company's 2021 first quarter report and related announcements published on the Shanghai Stock Exchange website (www.sse.com.cn) and the company's designated information disclosure media. Investors are requested to invest with caution and pay attention to investment risks. The financial data for the first quarter is unaudited.

 

 

Forward-looking statements

 

This press release includes forward-looking statements. Forward-looking statements are based on the Company's beliefs and certain assumptions about the future and are not statements of historical fact or actual events. Due to various risks, uncertainties and other factors, there may be material differences between actual results and those stated in the forward-looking statements. Therefore, you should be aware that reliance on any forward-looking statement involves known and unknown risks. All forward-looking statements contained in this press release refer to the cautionary statements listed in this section. All information contained in this press release is accurate as of the date this press release is made, and is based only on the assumptions made on that date. The company assumes no obligation to update such forward-looking statements, except as required by law.

 

Copyright statement: This article is from the content team of Red Avenue New Materials. Individuals are welcome to forward it to WeChat Moments. Media or institutions are not allowed to reprint it on other platforms in any form without authorization. For reprinting authorization, please reply to "Reprint" on the WeChat official account of Red Avenue New Materials to obtain reprinting instructions. 

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