In the first half of 2022, due to the macro-environment, repeated outbreaks of COVID-19 epidemic and global chip supply shortage, the downstream demand of the company's main business and supply chain delivery were affected to varying degrees, and the revenue recognition cycle and progress of the company's orders in hand were also affected, resulting in a certain decline in operating performance. However, with the continuous efforts of the company, the income of precision manufacturing business has increased significantly.
In the first half of 2022, the company increased R&D investment in high-performance film materials used in new display, automotive electronics and other fields, as well as high-performance and low-cost aluminum-plastic film materials used in solid and semi-solid new structural power batteries. Although the increase in R&D expenses has affected the current performance, the company continues to develop products with market competitiveness, ensuring the company's continuous leading competitive advantage in the medium and long-term development.
According to Digby's data. Xinlun New Materials specializes in R&D, production and sales of advanced functional polymer materials and precision manufacturing of new materials, supplemented by purification engineering business and production and sales of personal protective equipment.