On May 15, CQV, the South Korean subsidiary of GLOBAL NEW MAT (6616.HK), released its financial report for the first quarter of 2026. The data shows that CQV's Q1 revenue reached KRW 15.77 billion, a year-on-year increase of 7.28%; net profit was KRW 2.41 billion, a year-on-year growth of 18.55%. The growth rate of net profit significantly outpaced revenue growth, indicating continuous optimization of operational quality.
As one of the core segments of GLOBAL NEW MAT, CQV's Q1 report, with growth in both revenue and net profit, reversed the weak trend of declining revenue in 2025. This has injected strong momentum for a turnaround in GLOBAL NEW MAT's overall growth and also demonstrates the steady implementation of the company's strategy of high-end development, globalization, and synergy.
Just two days prior, the company's Chairman and Chief Executive Officer, Su Er Tian, increased his stake by 773,000 shares, following a series of purchases in April that totaled nearly 2.442 million ordinary shares. This move fully demonstrates management's firm confidence in the company's long-term growth prospects.
CQV's core businesses are showing positive trends across the board, with the high-end strategy yielding significant results.
In the first quarter, global demand for surface performance materials steadily recovered, leading to a significant rebound in CQV's order volume and an overall trend of robust growth.
Specifically, automotive and industrial-grade products showed strong growth. CQV's automotive product revenue for Q1 was KRW 6.832 billion, up 12.85% year-on-year. Relying on stable orders from vehicle manufacturers and new color development projects, sales of high value-added products such as alumina-based automotive-grade pearlescent pigments continued to increase. Furthermore, this business is accelerating its expansion from the domestic Korean market into overseas markets. Revenue from industrial-grade products reached KRW 3.292 billion, a substantial year-on-year increase of 59.65%. Benefiting from new market expansion and demand release across multiple application areas, this segment has become the core engine driving overall performance growth.
Simultaneously, the effectiveness of CQV's product high-end strategy is becoming prominent. Within the automotive segment, sales of high value-added products like alumina and glass-based materials continue to expand. Leveraging their strong durability and long application lifecycle, subsequent sales growth is expected to remain sustainable. The structural adjustment in the industrial segment, previously focused on "reducing the proportion of low-price products and concentrating on high value-added products," has achieved notable results, leading to continuous enhancement of profitability. In the cosmetics segment, the proportion of high value-added alumina substrate products remains stable. Meanwhile, the company is actively developing high-end new products such as TiO₂-Free alternatives, Halal-certified products, and carmine substitutes, precisely responding to rapidly changing market demands. Additionally, compared to the second half of 2025, Q1 order volume in the cosmetics segment has shown clear signs of recovery.
The Group's overseas market performance is robust, accelerating its global expansion.
It is understood that, besides steady growth in the automotive and industrial segments within the Asia-Pacific region and a rebound in cosmetics demand, GLOBAL NEW MAT's overseas business expansion maintained good momentum in the first quarter, providing strong support for the company's overall growth.
Currently, GLOBAL NEW MAT is accelerating its product globalization. Through cross-border mergers and acquisitions, the company has achieved a full-chain global industrial layout, completing an integrated restructuring of R&D, production, supply, market, and service. This deep integration allows it to fully leverage synergistic effects, promoting the reshaping of value within the global industrial chain and significantly enhancing its overall core competitiveness.
It is worth mentioning that recently, SUSONITY, a subsidiary of GLOBAL NEW MAT, formally signed a strategic cooperation agreement with Runben, a leading brand in mosquito repellents. The two parties intend to "complement each other's strengths and collaborate synergistically," engaging in deep cooperation around mosquito repellent product R&D, technological innovation, and market expansion to jointly create high-quality products that meet household mosquito repellent needs.
Presently, GLOBAL NEW MAT has established an integrated "R&D-Manufacturing-Market" synergistic network covering over 150 countries and regions worldwide. It has deployed six R&D centers, six application centers, and six manufacturing centers globally. Relying on its customer base and localized operational teams in Europe, Asia, and the Americas, the company achieves rapid coverage and agile response to major global markets. Concurrently, the company's 100,000-ton synthetic mica base in Tonglu, Hangzhou, has successfully commenced production, further strengthening its independent supply capability and scale advantage for core raw materials, providing stable production capacity support for performance growth.
Looking ahead, as the effects of integration continue to be released, coupled with the trend of domestic substitution and the acceleration of global expansion, GLOBAL NEW MAT will continue to deepen its high-end and globalization strategies, consolidating its leading position in the global surface performance materials industry. It aims to drive long-term, steady performance growth through technological innovation and global synergy.