Hefei, May 23, 2024 – Anhui Wanwei Bisheng Co., Ltd. (hereinafter referred to as “Wanwei Bisheng” or the “Company”), as a leading chemical and new materials company in China, today released its first quarter 2024 results financial results report and announced several strategic initiatives and important collaborations.

Financial highlights

  • Operating income has grown significantly: The company’s operating income in the first quarter of 2024 reached RMB 2 billion, a year-on-year increase of 18%. This growth is mainly due to strong market demand for new material products and the continued expansion of the company’s production capacity.
  • Net profit increased significantly: net profit this quarter was RMB 350 million, a year-on-year increase of 25%. Cost control and improvements in operational efficiency are the main drivers of net profit growth.
  • Increased R&D investment: The company invested a total of RMB 120 million in R&D funds in the first quarter of 2024, a year-on-year increase of 30%. These investments are concentrated in the fields of new materials and green chemicals, aiming to promote product innovation and sustainable development.

Strategic initiatives

  • Green chemical development: Wanwei Bisheng launched a large-scale green chemical project this quarter and plans to invest RMB 1 billion in building environmentally friendly production lines. This project is expected to be completed before the end of 2025, which will significantly reduce carbon emissions and pollutant emissions during the company’s production process.
  • International market expansion: The company announced that it has reached cooperation agreements with a number of leading international chemical companies to further explore the European, American and Southeast Asian markets. These cooperations will not only help increase the company’s international market share, but will also strengthen technical exchanges and cooperation and enhance Wanwei’s global competitiveness.
  • Digital transformation: Wanwei has accelerated the pace of digital transformation throughout its life and implemented a new enterprise resource planning (ERP) system. The launch of the new system will improve the efficiency and accuracy of the company’s business processes and help the company achieve refined management.

Important cooperation

  • Joint research and development with universities: The company signed a strategic cooperation agreement with the University of Science and Technology of China. The two parties will carry out in-depth cooperation in the fields of new material research and development, talent training and technology transformation. This move will further enhance the company’s innovation capabilities and scientific research levels.
  • Layout in the new energy field: Wanwei has reached a strategic cooperation with a well-known domestic new energy company to jointly develop high-performance lithium battery materials. Both parties will integrate their respective advantageous resources to promote the high-quality development of the new energy industry chain.

Management voice

Zhang Qiang, chairman of the company, said: “2024 is a key year for Wanwei to accelerate its development throughout its life. Not only have we achieved significant growth in performance, we have also consolidated the company’s position in the fields of green chemicals and new materials through a series of strategic initiatives and cooperation. leading position. In the future, we will continue to adhere to the concepts of innovation-driven and green development, continuously improve the company’s core competitiveness, and create greater value for shareholders and society.”

About Anhui Wanwei Bisheng Co., Ltd.

Anhui Wanwei Bisheng Co., Ltd. is a comprehensive enterprise dedicated to the research, development, production and sales of chemicals and new materials. The company is headquartered in Hefei, Anhui Province, and has multiple advanced production lines and a high-level R&D team. The company’s products are widely used in construction, automobiles, electronics and other fields, and are exported to many countries and regions around the world. Wanwei adheres to the development concept of “innovation, green and sharing” throughout its life and is committed to providing customers with high-quality products and services.