Production and sales rate exceeds 110%! Zhongfu Shen Ying's 2025 revenue surpasses 2.1 billion yuan, successfully turning losses into profits

On the evening of March 25, Zhongfu Shenying (688295) disclosed its 2025 annual report. For the full year, the company achieved total operating revenue of 2.194 billion yuan, a year-on-year increase of 40.87%; net profit attributable to shareholders was 96.1841 million yuan, successfully turning losses into profits. The company plans to distribute cash dividends of 0.33 yuan ( tax included ) for every 10 shares to all shareholders, totaling 29.70 million yuan ( tax included ).

Zhongfu Shenying, as a national high-tech enterprise specializing in R&D, production, and sales of carbon fiber and its composite materials, has long been committed to innovative research on polyacrylonitrile (PAN) high-performance carbon fibers. The company has already built three major advanced manufacturing bases—Jiangsu Lianyungang, Qinghai Xining, and Shanghai Lingang. It currently has a production capacity of 29,000 tons for PAN dry-jet wet-spinning carbon fibers, with 31,000 tons under construction.

In 2025, Zhongfu Shenying’s cutting-edge product matrix achieved breakthroughs. The T1200-grade ultra-high-strength carbon fiber developed by the company achieved a laboratory-level tensile strength of 8,056 MPa, and also achieved engineering-scale preparation with 7,718 MPa. The company developed SYM65J ultra-high-modulus carbon fiber with a tensile modulus of 637 GPa. The world’s first SYM55X-12K ultra-high-strength, high-modulus, and high-toughness carbon fiber was launched globally, achieving global leadership in its subdivided segments and continuously empowering aerospace and high-end extreme sports. It completed the development of SYT55T-16K low-cost high-strength high-modulus carbon fiber, providing solutions for low-cost applications in high-end sports and leisure and other fields.

Meanwhile, Zhongfu Shenying launched the second-generation SYT45F-48K low-cost high-pressure strain high-compression large-tow bundle carbon fiber for wind power, helping with the design and development of larger wind turbine blades. R&D results are accelerating deployment. The company developed Y603H aerospace prepreg and obtained pre-approval from COMAC for PCD, and is conducting component-level verification on domestically produced large aircraft. The company developed low-grammage carbon fiber technology to meet the requirements for low-grammage prepregs. It developed vinyl-based sizing to expand applications in the shipbuilding and marine fields. It developed a coordinated adaptation technology for the fiber–resin interface to meet the requirements for rapid processing and forming in the low-altitude economy sector. It advanced a technology for secondary short-cut sizing of waste filament, expanding application verification in ultra-high-performance concrete.

In terms of refined operations, Zhongfu Shenying is based on its “1+3” industrial layout, adheres to a “production guided by sales” approach, and gives full play to the capacity advantages of each production base. In 2025, the production-and-sales ratio exceeded 110%. Guided by the business philosophy of “value-based benefits, cost-based profit,” the company leads the price trends of high-end products such as 3K, M series, and T1100-grade, and implements precise capacity scheduling. Through measures including technological transformation, process optimization, and centralized procurement, it achieves a 12% year-on-year decrease in unit production cost, effectively improving profit margins, and steadily driving the company’s profits to grow.

In market expansion, Zhongfu Shenying’s advantages in its core business areas are evident. In 2025, the company’s market share in the pressure vessel field exceeded 75%, in the sports and leisure field exceeded 45%, in the carbon/carbon and carbon-ceramic fields exceeded 40%, and in emerging fields such as electronics, 3C, and medical, as well as in the construction field, each exceeded 30%. The market share in wind power has rapidly increased to nearly 20%, firmly maintaining its leading position in the industry. Relying on strong technological adaptability and large-scale delivery capabilities, the company will continue to consolidate existing advantages, promote the steady increase of core product market share, and further strengthen its leading position in the carbon fiber industry.

(Source: Securities Times)

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