科顺防水科技股份有限公司 投资者关系活动记录表 编号：2018-001 证券代码：300737 证券简称：科顺股份 科顺防水科技股份有限公司投资者关系活动记录表 | --- | --- | --- | --- | --- | |-----------------------|-------------------------------------------------------------------------|--------------------------|--------|--------------| | 投资者关系活动 \n类别 | ■ \n□媒体采访 □业绩说明会 \n□ 新闻发布会 □路演活动 \n□现场参观 \n□ 其他 | 特定对象调研 □分析师会议 | | | | 参与单位名称 | 姓名 | 调研机构 | 姓名 | 调研机构 | | 及人员姓名 | 鲍雁辛、戚舒 | 国泰君安 | 廖明兵 | 申万菱信基金 | | | 扬、赵晨阳 | | | | | | 沈玉梁 | 嘉实基金 | 冯晴 | 交银施罗德 | | | 卢静远、许恬 | 华健荣盛投资 | 傅盈 | 渤海人寿 | | | ...

Group 1: Company Performance - The company's revenue is expected to grow by approximately 50%-60% in the first half of the year due to strong market demand and increased production capacity compared to last year [2][4] - The company has effectively undertaken production tasks to meet order demands, contributing to revenue growth [3] Group 2: Accounts Receivable Management - The increase in accounts receivable is in line with revenue growth, and the company's accounts receivable as a percentage of revenue remains reasonable compared to peers [4] - The company has established a working group to manage accounts receivable, implementing targeted collection measures and optimizing customer structure to mitigate growth in accounts receivable [4] Group 3: Industry Trends - The waterproofing industry is expected to grow rapidly due to increasing awareness of waterproofing importance and higher design requirements from the Ministry of Housing and Urban-Rural Development [4] - The market for high-quality, easy-to-apply, and environmentally friendly waterproofing materials is anticipated to expand, benefiting leading companies in the industry [4] Group 4: Competitive Landscape - The entry of other companies into the waterproofing industry is viewed positively, as it is expected to promote orderly development and accelerate industry consolidation [4] - The presence of regulated companies in the waterproofing sector will help improve industry standards and reduce instances of poor-quality production [4] Group 5: Corporate Governance - The company has adopted a professional management model, with the controlling shareholder and actual controller holding shares but only one family member serving as the chairman [5]

编号：2018-002 科顺防水科技股份有限公司 投资者关系活动记录表 证券代码：300737 证券简称：科顺股份 科顺防水科技股份有限公司投资者关系活动记录表 | --- | --- | --- | --- | --- | |-----------------------|-------------------------------------------------------------------------|--------------------------------------------------------|--------|--------------| | 投资者关系活动 \n类别 | ■ \n□媒体采访 □业绩说明会 \n□ 新闻发布会 □路演活动 \n□现场参观 \n□ 其他 | 特定对象调研 □分析师会议 | | | | | 姓名 | 调研机构 | 姓名 | 调研机构 | | | 谢璐 | 广发证券 | 涂楠坤 | 申万菱信基金 | | 参与单位名称 | 孙鹏 | 中信保诚 | 方圆 | 阳光资产 | | 及人员姓名 | 文婷 | 景泰利豐 | 张晓亮 | 中信证券 | | ...

Group 1: Company Overview - The company has six production bases located in Guangdong, Jiangsu, Chongqing, Shandong, and Liaoning, with ongoing projects in Jingmen and Weinan [2][3] - The production capacity is expected to grow by approximately 50% in 2019 compared to the previous year, with a high capacity utilization rate [3][4] Group 2: Production Capacity and Planning - The company plans to build new production bases in Guangxi and Anhui, acquiring 200 acres each, and 100 acres for the second phase in Dezhou [3] - The company aims to maintain high capacity utilization rates to optimize production costs [3] Group 3: Market and Pricing Strategy - The price of asphalt has been on an upward trend, influenced by various factors including international oil prices and domestic supply-side reforms [4] - The company plans to optimize its product structure and increase the revenue share of non-asphalt-based waterproof materials [4] Group 4: Industry Standards and Impact - New standards in the waterproofing industry are expected to significantly impact the market, requiring many companies to revise their product standards [4] - The company has invested heavily in R&D and has introduced a "one-time waterproofing" system with a 30-year warranty, positioning itself favorably in the evolving market [4] Group 5: Strategic Partnerships and Customer Base - The number of strategic customers has increased significantly, with over 50 partnerships established, including major clients like Country Garden and China Overseas [5] - The company plans to enhance support for medium to large distributors and expand its distributor network in underrepresented cities [5] Group 6: Future Strategic Planning - The company aims to focus on the waterproofing industry, targeting a sales goal of 10 billion yuan while improving internal management and profitability [5]

科顺防水科技股份有限公司 投资者关系活动记录表 编号：2018-003 证券代码：300737 证券简称：科顺股份 科顺防水科技股份有限公司投资者关系活动记录表 | --- | --- | --- | --- | --- | |-----------------------|-------------------------------------------------------------------------|--------------------------|--------|----------| | 投资者关系活 \n动类别 | ■ \n□媒体采访 □业绩说明会 \n□ 新闻发布会 □路演活动 \n□现场参观 \n□ 其他 | 特定对象调研 □分析师会议 | | | | | 姓名 | 调研机构 | 姓名 | 调研机构 | | | 钱佳佳 | 海通证券 | 曹阳 | 西部证券 | | | 郝结旺 | 上海协囤投资 | 刘昭阳 | 远策投资 | | | 曾尚 | 源乘投资 | 刘星 | 城石资本 | | | 陈晨 | 东信资本 | 邱晓佩 | 海通证券 | | 参与单位名称 | 刘琪 | 中信建 ...

编号：2018-006 科顺防水科技股份有限公司 投资者关系活动记录表 证券代码：300737 证券简称：科顺股份 | --- | --- | --- | |--------------|------------------------------|----------------------------------------------------------------| | | 特定对象调研 □分析师会议 | | | 投资者关系活 | □ 媒体采访 □业绩说明会 | | | 动类别 | □ 新闻发布会 □路演活动 | | | | □ 现场参观 | □ 其他 | | | 中金公司：李可悦 | 国盛证券：房大磊 | | 参与单位名称 | 高毅资产：张阳 | 人保资产：金川 | | 及人员姓名 | 盈泰投资：陈少波 | 景顺长城：余捷涛 | | 时间 | 2018 年 5 月 25 日 | 10:00～11:00,15:00～16:00 | | 地点 | 公司 4 楼、12 楼会议室 | | | 上市公司接待 | | 董事会秘书：毕双喜； 证券事务代表：李文东 | | 人员姓名 | | | | 投资者关系活 ...

Group 1: Company Overview - The company has been in operation for 22 years, facing various opportunities and challenges along the way, and aims to create greater value for society and shareholders in the future [6] - The company focuses on waterproof materials sales and engineering construction, with plans to increase investment in repair services [6] Group 2: Financial Performance - In 2017, the operating cash flow accounted for approximately 50% of net profit, influenced by customer accounts receivable pressure [3] - The company's engineering construction revenue accounted for about 10% of total revenue in 2017, with a direct sales to distribution ratio of approximately 6:4 [5] Group 3: Market Conditions and Strategies - The tightening of funds in the real estate sector due to macroeconomic control has put pressure on the company's accounts receivable [3] - The company has started to adjust prices for some coating products in May 2018 due to rising raw material costs [5] Group 4: Competitive Advantages - The company has significant advantages over competitors, including a strong management team with extensive industry experience and products that exceed national standards in certain areas [4] - The company has a high supply share with many strategic partners, although specific percentages are not publicly disclosed [4]

科顺防水科技股份有限公司 投资者关系活动记录表 证券代码：300737 证券简称：科顺股份 科顺防水科技股份有限公司投资者关系活动记录表 编号：2018-007 | --- | --- | --- | |--------------|-------------------------------------------------|----------------------------------------------------------------------| | | 特定对象调研 □分析师会议 | | | 投资者关系活 | □ 媒体采访 □业绩说明会 | | | 动类别 | □ 新闻发布会 □路演活动 | | | | □ 现场参观 | □ 其他 | | 参与单位名称 | 国泰君安：赵晨阳、花健祎 | | | 及人员姓名 | 久联资产：许源鑫、许梦绪、邓志明 翼虎投资：刘成 | | | 时间 | 2018 年 10 月 30 | 日 14:00～15:00 | | | | | | 地点 | 公司 3A 楼会议室 | | | 上市公司接待 | | 董事会秘书：毕双喜；财务副总监：文银伟； 证券事务代 ...

Group 1: Company Overview - The company introduced its main team and provided an overview of the waterproofing industry, its development history, business model, and management team [1][2]. Group 2: Sales Performance - The rapid growth in sales revenue in 2018 was attributed to several factors: the gradual completion and production of manufacturing bases, enhanced brand influence, and increased investment in sales [3]. - The sales revenue breakdown by product type is approximately: waterproof membranes 65%-70%, waterproof coatings around 20%, and engineering construction about 10%-15% [3]. Group 3: Sales Strategy - The direct sales to distribution ratio is approximately 6:4 [3]. - Major real estate companies consider supplier selection based on brand recognition, product quality, production capacity, delivery capability, past experience with large clients, and financial strength [3]. Group 4: Raw Material Management - The company anticipates that the price of asphalt, which reached a historical high in 2018, is less likely to continue rising in 2019. The company will closely monitor the oil market and establish strategic partnerships with suppliers to mitigate cost impacts [3][4]. - Most asphalt is procured from PetroChina, with a strategic framework agreement in place for procurement from nearby refineries [4]. Group 5: Industry Trends - The infrastructure industry is expected to maintain steady growth in 2019, with an anticipated increase in the company's project revenue proportion [4]. - The waterproofing industry is facing pressures from stricter environmental regulations, rising raw material prices, and increased market scrutiny of substandard products, leading to a consolidation trend where stronger companies gain more opportunities [4]. Group 6: Production Capacity - The company has established production bases in various regions, including Guangdong, Jiangsu, Chongqing, Shandong, and Liaoning, with additional bases under construction expected to trial production this year [4]. - Waterproof products are primarily used in building components such as basements, roofs, kitchens, and exterior walls [4].

Company Overview - Keshun Waterproof Technology Co., Ltd. has established 10 production bases across China, including locations in Foshan, Kunshan, Nantong, Chongqing, Dezhou, Anshan, Jingmen, Weinan, Sanming, and Guangxi [2][3] - The company aims for a compound annual growth rate of approximately 40% in overall production capacity over the next three years [3] Production Capacity and Strategy - The company has completed the national layout of production bases, with a focus on optimizing logistics costs and response times [3] - New production bases in Jingmen and Weinan have significantly improved raw material storage capacity due to larger land areas [3] - The second phase of the Dezhou production base has been completed, with expectations to fully release capacity in 2021 [3] Market Demand and Growth Potential - The domestic waterproofing industry has a market capacity exceeding 200 billion yuan, with Keshun's market share currently below 4%, indicating substantial growth potential [4] - The demand for waterproofing products is expected to remain strong in 2021, driven by stable growth in real estate investment and increased infrastructure spending [5] Pricing and Cost Management - The company plans to maintain stable product prices in 2021 despite potential price adjustments due to market conditions [6] - Strategies to mitigate the impact of price fluctuations include optimizing production efficiency, enhancing product structure, and improving logistics costs [6] Sales and Distribution Strategy - Keshun currently collaborates with over 60 top real estate companies and aims to expand this to over 80 [5] - The company plans to increase the proportion of revenue from distributors to 50% by 2022, enhancing market penetration and service quality [5]