Research Express | Ningbo Bohui Chemical receives research from 13 institutions including Guohai Securities, with nearly 30% revenue growth in 2025, and new liquid cooling business progressing steadily

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Recently, Ningbo Bohui Chemical Technology Co., Ltd. (hereinafter referred to as “Ningbo Bohui Chemical”) received research visits from 13 institutions, including Guohai Securities, Huayuan Securities, and CITIC Prudential Fund, through offline communication from March 17 to 22, 2026. Vice General Manager and Secretary of the Board Zhang Xuelian had in-depth discussions with institutional investors on the company’s basic situation, business progress, performance, and future plans.

Basic Information of Investor Activities

Analysis of Research Highlights

Company Focuses on Green Chemical Main Business and Expands into Liquid Cooling New Track

According to Zhang Xuelian, Ningbo Bohui Chemical was founded in 2005, with its main business being green chemicals. The production base is located in the Petrochemical Economic and Technological Development Zone in Ningbo. As a national first-class chemical park, the zone has a complete industrial chain, comprehensive facilities, and is close to major consumer markets in East China and the Yangtze River Delta, with abundant maritime port resources. The company has long focused on deep processing of fuel oil, with core products including environmentally friendly aromatic oils and fuel oils, widely used in daily chemicals, textiles, precision machinery, and international ship refueling.

Notably, the company actively expanded into new business areas in the second half of 2025, establishing a wholly-owned subsidiary in Wuxi, Wuxi Jizhi Liquid Cooling, to develop the liquid cooling computing power sector. Zhang Xuelian stated that with the explosive growth of national computing power demand, the company’s products are highly compatible with liquid cooling industry applications. Currently, the company has purchased servers and other equipment to provide intelligent computing services, and related businesses are progressing in an orderly manner, reserving new growth drivers for future development.

2025 Performance Significantly Improved, Revenue Grew Nearly 30%

During the research, institutions focused on the company’s operational results over the past half year. Zhang Xuelian revealed that the company achieved stable raw material quality and capacity release through raw material adaptability transformation. Currently, the bonded high-sulfur fuel oil capacity can reach one million tons; at the same time, the environmentally friendly aromatic oil plant achieved stable high production in 2025, with increased output and sales of transformer oil, base oil, white oil, and other products.

In terms of business cooperation, domestic companies maintain good partnerships with leading enterprises such as PetroChina and Sinopec, while international trading operations remain stable. These measures have driven the company’s fundamentals to continue improving. The 2025 performance forecast shows the company expects to achieve operating revenue of 2.73 billion to 2.92 billion yuan, an increase of 19.76% to 28.10% year-on-year; although still unprofitable, net profit attributable to shareholders of the listed company increased by 77.19% to 84.36% year-on-year, with a significant narrowing of losses.

First Quarter Performance Looks Up, Private Placement Progressing in Order

Regarding the company’s first quarter 2026 performance, Zhang Xuelian said “overall positive,” but specific data will be disclosed together with the 2025 annual report on April 23. Regarding market concerns about geopolitical impacts, she pointed out that as a fuel oil producer, the company adheres to prudent inventory management strategies. Currently, inventory can support about two months of production, raw material procurement is normal, and there is no situation of reduced production due to raw material shortages. Recently, raw material prices have fluctuated significantly, and the company’s product prices are adjusting in line with market trends. The company is actively managing risks.

Additionally, on the progress of private placement, Zhang Xuelian explained that the company’s 2025 private share issuance to specific targets has completed the first round of inquiry responses from the Shenzhen Stock Exchange, and related matters are being advanced. The company will fulfill its information disclosure obligations in a timely manner.

This research did not involve any undisclosed material information; specific details are subject to official announcements.

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Editor: Xiao Lang Express