Jiangsu Topfly New Materials Co., Ltd. Class A

Jiangsu Topfly New Materials Co., Ltd. Class A

SSZSE:001373
28.78
CNY
-0.07
(-0.24%)
-0.69EPS
2.07BMarket Cap
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
8.51
10.12
18.62
25.15
15.57
11.55
9.32
8.34
8.93
Basic EPS, GAAP
0.51
0.69
1.27
1.56
1.2
0.57
0.18
-0.5
-0.7
Free Cash Flow per Basic Share
-1.38
0.26
0.07
0.41
2.73
-0.96
0.51
-1
- -
Dividend per Share
0.16
0.08
0.25
0.21
0.04
0.22
0.24
0.06
- -
Book Value per Share
3.2
3.88
5.46
7.02
8.23
13.12
13.06
12.42
12.09
Tangible Book Value per Share
3.2
3.87
5.45
7.02
8.04
12.99
12.93
12.28
11.9
Basic Weighted Avg Shares
52
69
48
51
52
62
69
69
69
Sales/Revenue/Turnover
438
695
896
1,293
804
714
640
573
613
Operating Margin (%)
7.43
9.11
12.15
100
8.15
6.48
2.6
-3.96
-5.81
Depreciation Expense
2
4
6
7
14
14
13
17
- -
Net Income, GAAP
26
48
61
80
62
35
12
-35
-48
Effective Tax Rate (%)
10.91
13.37
20.06
11.96
8.96
8.69
4.76
- -
- -
Profit Margin (%)
5.96
6.86
6.82
6.2
7.71
4.93
1.92
-6.05
-7.9
Working Capital
137
169
260
336
393
824
751
655
613
LT Debt
- -
- -
43
21
15
12
10
4
12
Total Equity
179
218
305
397
467
946
936
874
852
Return on Invested Capital (%)
- -
26.37
22.53
20.91
15
6.14
1.96
- -
- -
Return on Capital (%)
- -
22.01
19.94
20.05
10.99
3.68
0.71
- -
- -
Return on Common Equity (%)
- -
26.11
25.4
24.95
15.78
5.32
1.36
-3.96
-5.61

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
4
6
6
LT Borrowings
- -
- -
- -
LT Finance Leases
4
13
12
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
69
69
69
Market Capitalization
2,217
2,370
2,071

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
777
780
742
Cash, Cash Equivalents & STI
429
397
343
Accounts Receivable, Net
248
270
270
Inventories
66
78
80
Total Current Liabilities
122
140
129
Payables & Accruals
- -
- -
- -
ST Debt
4
6
6
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
28.57%
-6.59%
Free Cash Flow
- -
93.83%
-294.12%
Net Income, GAAP
- -
-96.46%
-382.52%
Sales/Revenue/Turnover
- -
-5.11%
-10.48%
Total Cash Common Dividend
- -
78.19%
-74.02%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
170
167
168
135
640
2025
138
141
- -
148
573
2026
156
169
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.05
0.06
0.05
0.02
0.18
2025
-0.03
-0.14
- -
-0.24
-0.5
2026
-0.14
-0.19
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
0.04
0.24
2025
- -
- -
- -
- -
0.06
2026
- -
- -
- -
- -
- -

Company Description

CEO
Wei Zhang
Full Time Employees
479
Sector
Health technology
Industry
Medical specialties
Address
Nanjing China
IPO Date
Jun 1, 2023
Business
Jiangsu Topfly New Materials Co., Ltd. is a China-based high-tech enterprise primarily engaged in the research, development, precision processing, manufacturing, and distribution of photoelectric display thin-film devices and functional materials for the flat panel display industry. Founded in 2012 and headquartered in Nanjing, Jiangsu Province, the company operates as a key component supplier in the global optoelectronic display supply chain and trades on the Shenzhen Stock Exchange under the ticker 001373. The company's core product and service portfolio comprises three primary categories: polarizers, including polarizing sheets, anti-glare polarizers, wide-viewing-angle films, and customized optical filters engineered for liquid crystal display (LCD) and organic light-emitting diode (OLED) panels across consumer and automotive-grade specifications; optical films, encompassing brightening films, prism sheets, diffusion films, reflective films, micro-lens films, composite optical sheets, and light guide components designed to optimize backlight luminance, optical efficiency, and uniform light dispersion; and functional adhesive materials, consisting of optically clear adhesives (OCA), thermally conductive tapes, electrically conductive adhesives, cushioning foams, electrical insulation films, electromagnetic interference (EMI) shielding tapes, and surface protective films utilized for precision bonding, structural fixing, thermal management, and electrical insulation in compact electronic architectures. In addition to material manufacturing, the company provides custom precision converting and machining services, including high-speed automated slitting, high-precision laser and die-cutting, multi-layer automated lamination, and automated peeling tailored to customer design specifications. Topfly New Materials serves leading display panel manufacturers, backlight module assemblers, and electronics manufacturing services providers, including BOE Technology Group, Sakai Display Products, HKC Corporation, AUO Corporation, CEC Panda, Coretronic, Radiant Opto-Electronics, and Starline. Its end-market applications span consumer electronics, automotive electronics, commercial displays, and industrial equipment, with components integrated into LCD televisions, desktop monitors, notebook computers, tablet PCs, smartphones, smart wearable devices, vehicle infotainment systems, digital instrument clusters, industrial control terminals, medical monitors, and public information displays for international end-user brands such as Samsung, LG, Dell, HP, Microsoft, Asus, Lenovo, Xiaomi, Skyworth, and Huawei. The company conducts its operations and precision manufacturing through regional production bases and specialized operating subsidiaries, including Nanjing Xianghui Optoelectronic New Materials Co., Ltd., Nanjing Tengrui New Materials Technology Co., Ltd., and Dongguan Topfly New Materials Technology Co., Ltd. In recent developments, following its initial public offering on the Shenzhen Stock Exchange, the company completed and fully commissioned its major capital-expenditure initiatives, specifically the Photoelectric Thin Film Device Production Project and the corporate R&D Center Project, significantly scaling its automated precision converting capacity for optical films and automotive polarizers while enhancing manufacturing consistency and yields. Strategically, Topfly New Materials has accelerated its expansion into high-value product lines, broadening its portfolio to include advanced OLED process functional films, ultra-thin composite optical films, and specialized automotive cockpit display materials. Operationally, the company has streamlined its subsidiary management structure to optimize resource allocation, while integrating high-precision automated visual inspection machinery and advanced testing equipment across its production lines to support the stringent quality requirements of next-generation OLED and smart vehicle display systems.