NBD AI Bulletin -- Hangzhou First Applied Material CO., Ltd (SH 603806, close price: 88.93 yuan) on January 20 issued a performance forecast, saying that the Company's net profit attributable to shareholders in 2020 is expected to increase by 583 million yuan compared to last year, up about 61% year over year. The change in performance is mainly due to the improved profitability of the Company's main business. In 2020, as the photovoltaic industry developed rapidly, the Company accelerated the expansion of photovoltaic film production capacity, further optimized the product structure, so as to achieve the growth of photovoltaic film sales, rise in average sales unit price, and hence increase in product profitability.

The 2019 annual report shows that the main business of Hangzhou First Applied Material is the photovoltaic industry, electronic materials, textile industry, photovoltaic power generation industry, accounting for 97.55%, 0.9%, 0.42%, 0.35% of revenue, respectively.

Hangzhou First Applied Material's chairman is Lin Jianhua, male, 59 years old, Chinese nationality, bachelor's degree, senior engineer. Hangzhou First Applied Material's general manager is Zhou Guangda, male, 40 years old, Chinese nationality, PhD, senior engineer.

(By Gao Han)

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