On April 8th, Furi Co., Ltd. held its 2024 annual performance briefing. In 2024, Furi Co., Ltd. achieved operating revenue of 5.346 billion yuan. The net profit attributable to the parent company was 348 million yuan, increasing by 21.39% year-on-year. The net profit attributable to the parent company after deducting non-recurring gains and losses was 336 million yuan, representing a year-on-year increase of 21.70%.

It is worth mentioning that the new materials business of Furi Co., Ltd. achieved multiple breakthroughs last year and entered a stage of rapid development.

In 2024, the number of orders on hand and capacity utilization rate of the coating materials business of Furi Xuanwei continued to increase. Moreover, it added strategic customers such as state-owned enterprises and central enterprises, and its market influence continued to expand. The coating materials business of Furi Xuanwei achieved a revenue of 202 million yuan, representing a year-on-year growth of 49.63%.

In 2024, the segmented sectors of China's coatings market demonstrated a trend of diversification and high-end development. Among them, the sub-markets such as wind power coatings, industrial heavy-duty anti-corrosion coatings and special coatings have performed outstandingly. Enterprises have actively responded to market changes by optimizing product structures and enhancing production capabilities. In addition, fields such as automotive coatings, container coatings, and 3C coatings have also demonstrated a strong growth momentum, indicating that the coatings industry will face more opportunities and challenges in the future.

Furi Xuanwei is actively expanding its functional coating materials business. Its products mainly include thermal shielding energy-saving and cooling coating materials, Marine heavy-duty anti-corrosion coating materials, special anti-corrosion coating materials for petrochemical and energy, water-based industrial anti-corrosion coating materials, and automotive coating materials, etc. These can be applied in fields such as petrochemicals, Marine engineering ports, automobiles and ships, military equipment, and containers.

Furi Xuanwei adopts an independent research and development model to carry out product research and development and technological innovation. By collaborating with Qingdao University of Science and Technology, it has established a research and development team mainly composed of Professor Li Shaoxiang from Qingdao University of Science and Technology and dozens of professor-level experts and doctoral students. This team is responsible for product development and scientific research support. According to market and customer demands, it continuously increases R&D investment and promotes the transformation of project achievements.

The thermal shielding functional coating developed by Furi Xuanwei has been appraised by the military and the expert group of the Shandong Provincial Department of Science and Technology. It has visible light and near-infrared stealth performance, and excellent heat insulation, cooling and energy-saving effects. It can reduce the surface temperature of equipment by more than 15℃ and the internal temperature by 8-10℃, reaching the leading level in the same field in China. He/She has won the First Prize of Science and Technology Progress of Shandong Province, the First Prize of Science and Technology Progress of the Petrochemical Industry Association, and the Second Prize of Science and Technology Progress of the PLA.

Marine heavy-duty anti-corrosion coatings have significant technical advantages in the anti-corrosion of Marine engineering equipment and facilities, and their product performance has reached the leading level in China. Marine heavy-duty anti-corrosion coating materials can achieve wet and rust-resistant coating and underwater curing construction. There are dozens of large-scale domestic demonstration project cases. The comprehensive technical level has been appraised by the Shandong Provincial Department of Science and Technology as reaching the leading level in China.

The water-based industrial anti-corrosion coating materials have broken through the common key technologies and formed high-end water-based container coating materials that can be applied in the field of Marine heavy-duty anti-corrosion. The related technical field has won the second prize of Shandong Provincial Science and Technology Progress Award.

Special anti-corrosion coating materials for petrochemical energy have been included in the qualified supplier systems of Sinopec and petrochina. The products are mainly applied to various acid and alkali resistant and anti-aging devices, etc.

The automotive coating materials have formed a high-end automotive coating material system that is comprehensively water-based from primer to intermediate coat. A supporting system suitable for various substrates such as aluminum alloy, cold-rolled steel plate, ABS, fiberglass reinforced plastic, and PP has been established, meeting the most advanced process requirements of primer baking - intermediate coat baking - 20-minute flash drying of topcoat - clear coat baking, and solving the wet-to-wet technical problems of topcoat and clear coat.

Facing a complex and volatile market environment, in 2025, Furi Xuanwei will continue to focus on core fields such as Marine engineering, petrochemical energy, automobiles, and ships, fully expand business opportunities, and strive to build a first-class enterprise with global influence and competitiveness in the coating materials field. Furi Xuanwei will increase its investment in research and development, develop new high-end coating products, enhance product performance and competitiveness, and meet the constantly changing demands of the market. At the same time, make full use of the rich project resources and industry influence accumulated in the past to further explore new business opportunities, and promote the coatings business to achieve new breakthroughs and reach new heights in 2025.