Dinglong Co., Ltd. plans to divest its general printing consumables terminal business to focus on its core semiconductor materials main business

On the evening of April 2, Dinglong Co., Ltd. (300054) released an announcement stating that the company plans to divest the terminal business for general printing consumables by disposing of the controlling stakes of two consolidated subsidiaries.

Specifically, Dinglong will transfer the 60% equity interest it holds in Zhuhai Mingtu Chaojun for 120 million yuan, reducing its ownership stake to 40%; it will transfer the 15% equity interest it holds in Beihai Jixun for 72.75 million yuan, reducing its ownership stake to 44%, and the two companies will no longer be included within the scope of the consolidated financial statements.

The announcement shows that this transaction is expected to recover nearly 440 million yuan in net cash. It is intended to focus on the core business of semiconductor materials, optimize resource allocation, and improve profitability quality and the company’s long-term sustainable development capabilities. “This divestment of the traditional consumables terminal business is an important strategic adjustment for the company to optimize asset allocation and concentrate resources to deepen its efforts in the core business,” Dinglong said. The company will further concentrate its advantageous resources in capital, technology, talent, and management, strengthen investments in the semiconductor materials sector with high strategic priority and large industry growth space, and accelerate product development and capacity construction for the semiconductor materials business.

Dinglong further noted that after the completion of this transaction, the scope of the company’s consolidated financial statements will correspondingly change. Beihai Jixun will no longer be included in the company’s consolidated financial statements, which will cause the company’s operating revenue and total profit to decrease accordingly. The rapid growth of the company’s semiconductor materials and lithium battery materials businesses is expected to effectively cover the reduction in the company’s total operating revenue and net profit resulting from the exit of the consumables terminal business. The company will conduct accounting in accordance with the relevant requirements of the corporate accounting standards; the specific accounting treatment and the impact figures shall be subject to the results confirmed by the annual audit of the accountants.

According to Dinglong’s performance forecast, the company expects that in the first quarter of 2026, net profit attributable to shareholders of the listed company will be 240 million to 260 million yuan, representing a year-on-year increase of 70.22% to 84.41%, with a quarter-on-quarter increase of 19.53% to 29.49%; net profit after excluding non-recurring gains and losses will be 230 million to 250 million yuan, representing a year-on-year increase of 70.52% to 85.35%.

Dinglong disclosed that the main reasons for the substantial increase in performance are: first, the company’s business development trend has continued to improve; the semiconductor materials business’ operating revenue has achieved steady growth; market demand for core products is strong; and both the revenue scale and profitability are improving in parallel. Second, the company continues to further deepen lean operations management, optimize its product structure, improve operational efficiency, and its overall profitability has continued to strengthen.

In addition, in the investor relations activity record table recently disclosed by Dinglong, the company stated that in 2025, the net profit growth rate of the company’s semiconductor materials segment was significantly higher than the revenue growth rate. This was mainly attributable to the continued release of scale effects, ongoing optimization of the product structure, and the emergence of results from lean operations management, which has substantially improved overall profitability.

Looking at the subdivided fields, CMP polishing materials, as the core business of the segment, has been continuously increasing its market share, with outstanding contributions to revenue and gross profit, and its profitability performance is the most stable. Semiconductor display materials, relying on the ramp-up of high-end products, has achieved steady revenue growth and continued improvement in profitability. Packaging photoresists and advanced packaging materials benefit from the increase in industry demand, and their profitability levels have improved in tandem. The wafer photoresist business is still in the technology validation and initial commercialization stage; at present, it mainly focuses on customer onboarding and stable batch supply, and profitability is still in the cultivation period.

Dinglong stated that in 2026, the company will continue to enhance the profitability level of each business through capacity release, customer expansion, and product structure upgrades, and will promote the steady improvement of the overall profitability of the semiconductor materials segment.

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