South Asia New Materials' net profit in 2025 increases by 338% year-over-year, with both product volume and prices rising.

On the evening of March 25th, NanYa New Materials (688519.SH) released its 2025 annual report.

According to disclosures, last year the company achieved operating revenue of 5.23B yuan, a year-on-year increase of 55.52%; during the same period, net profit attributable to shareholders of the listed company was 240 million yuan, a year-on-year increase of 337.6%; the performance growth was mainly driven by the combined effects of increased product sales and higher selling prices.

NanYa New Materials’ main business involves the design, research and development, production, and sales of composite materials and their products such as copper-clad laminates and bonding sheets. Copper-clad laminates are the core materials used to make printed circuit boards, which serve as the carriers for electrical connections of electronic components. Copper-clad laminates and printed circuit boards are essential components in modern electronic information products, widely used in consumer electronics, computers, communications, data centers, automotive electronics, aerospace, and industrial control fields.

From an industry perspective, by 2025, the copper-clad laminate industry is in a critical transition phase from maturity to high-end upgrading, characterized by structural supply and demand imbalances, accelerated domestic substitution, and increased industry segmentation, with the advantages of leading companies continuing to stand out. It is reported that in this context, the company’s core relies on breakthroughs in high-end high-speed products and the dividends of domestic substitution, gradually narrowing the gap with industry leaders, and overall showing a development trend of “rapid catch-up and focus on high-end,” with a leap in industry position compared to 2024.

Specifically, regarding operational conditions, NanYa New Materials explained that in the high-speed materials field, the company has become one of the few domestic manufacturers of copper-clad laminates that have achieved certification for the full series (M2-M9) of high-speed materials from core domestic end-users. Among these, products in the M6-M8 level have been mass-applied to leading computing clients, and M9-level products are in the NPI project introduction stage. In Q4 2025, the company launched the M10-level material globally, providing forward-looking solutions for next-generation high-speed backplanes and other products. In the IC packaging materials sector, storage-class materials have entered the pre-mass production preparation stage with global core industry leaders, completed domestic top DRAM end-user certification, and steadily advanced product certification with major domestic storage solution manufacturers. For NAND applications, the company has achieved stable mass production in products such as SSDs and eMMCs. Non-chip substrates have been mass-produced and introduced at customers in Japan and South Korea, further expanding diversified application scenarios. With continuous breakthroughs in core technologies, the company’s technological barriers are being reinforced, and its differentiated competitive advantages are further enhanced.

Meanwhile, the company’s global strategic layout is steadily advancing. The annual report shows that, focusing on development priorities, the company is steadily expanding its global strategy in high-growth areas such as communications, AI servers, data centers, switches, and optical modules. During the reporting period, in market development, the company continued to deepen its presence in the domestic high-end market, while accelerating overseas certification of high-end materials and expanding into overseas high-end markets. High-speed, high-frequency, and AI computing power-related high-end materials have achieved mass delivery domestically and have entered or begun the certification process on major global computing platforms. In terms of capacity layout, the N6 plant at the Jiangxi production base has fully reached production; the first plant at the Jiangsu production base (N8 plant) is steadily progressing, with trial production expected to begin in Q4 2026, and the second plant (N9 plant), a project for high-end high-frequency copper-clad laminates based on AI computing power, is planned to be advanced through refinancing; the overseas production base in Thailand is progressing steadily as scheduled. The company is gradually transitioning from a domestic leader to a world-class electronic substrate supplier.

Regarding technological innovation plans, NanYa New Materials stated that it will follow the development trend of world-leading electronic circuit technologies, continuously optimize internal R&D and innovation mechanisms, improve R&D efficiency, and strive to maintain industry-leading technological advantages. In the future, the company’s product R&D will focus on seven major areas: high-speed materials, high-frequency materials, automotive-grade materials, HDI materials, high-end display materials, IC substrate materials, and high thermal conductivity materials.

(Source: Securities Times)