In the first quarter of 2022, revenue increased by 114%, Changhong Hi-Tech started two-wheel drive

On the evening of April 27, Changhong Hi-Tech released its 2021 annual report and 2022 first quarter report

Changhong Hi-Tech said that the change in net profit in 2021 is mainly affected by the following factors

"Excluding the above factors, the net profit level in 2021 will be basically the same as that in 2020.

Changhong Hi-Tech's main business is Thermoplastic Elastomer Materials (TPES)

SEBS and SEPS are high-end varieties of thermoplastic elastomer materials (TPES).

The annual report data shows that the company's high-end products account for more than 23%, the product structure is continuously optimized, and the profitability is improved

The first quarterly report disclosed at the same time shows that the reason for the substantial growth of the company's performance is mainly from the release of the performance of fully biodegradable plastics (PBAT), and the company has thus established the dual main business of thermoplastic elastomer materials (TPES) and fully biodegradable plastics (PBAT).

From the current development point of view, fully biodegradable plastic (PBAT) has become a fully biodegradable material with the best comprehensive performance recognized in the world, and it is the most widely used variety of biodegradable plastics.

In 2020, Changhong Hi-Tech will invest in the construction of a 600,000-ton/year fully biodegradable thermoplastic industrial park PBAT/PBS/PBT flexible and flexible production project