Minsida: The year-on-year growth rate in the third quarter has slowed mainly due to changes in the delivery rhythm of orders in the honeycomb core material sector.

Jin10 Data reported on October 20 that Minshida stated during a specific audience survey that the year-on-year growth rate in the third quarter slowed mainly due to changes in the order delivery rhythm in the honeycomb core material sector. Specifically, the revenue from the honeycomb core material business was basically flat year-on-year in the first half of the year, while it decreased by approximately 20% year-on-year in the first three quarters. Due to the relatively high selling price and gross profit of honeycomb core products, there was some drag on the overall growth of the company's performance in the third quarter. In the electrical insulation sector, a year-on-year growth of about 30% was achieved in the first three quarters. The company's fundraising for a 1500-ton production line has entered the trial production stage in June, and this production line can produce most specifications and models of products, but due to delays in the delivery of imported equipment, production of a few models is restricted, with completion expected in the first quarter of next year. As of September 30, the operating rate of this production line was about 50%.