Market Penetration and Growth Potential - The penetration rate of functional shading products in China was only 3.1% in 2019, with an expected increase to 4.3% by 2025, indicating significant growth potential compared to developed countries where penetration rates can reach 70% [1][4] - The domestic market for functional shading products is still in its early stages, primarily used in large public buildings, with low consumer awareness and demand [2][4] Competitive Advantages - Functional shading materials offer advantages over traditional fabric materials, including comprehensive functionality, ease of installation, and lower overall costs [2] - The company has established a strong competitive position through a mature supply chain, extensive customer resources, and a focus on high-end product development [3][4] Production Capacity and Investment - The company’s production capacity is expected to increase by 20%-30% in 2021, reaching full capacity in 2022 with an anticipated total capacity of 100% [2] - Continuous investment in technological upgrades and production efficiency improvements has led to a reduction in production costs and enhanced product quality [3] Revenue and Profit Margins - The company maintains a higher gross margin compared to competitors due to stable supplier relationships, strategic procurement practices, and innovative product offerings [3] - The gross margin for adjustable light products is the highest, driven by their premium pricing and market leadership [4] Sales Strategy and Market Expansion - The company plans to maintain a sales ratio of approximately 1/3 for domestic sales and 2/3 for exports, focusing on expanding its presence in tier-2 cities while consolidating its market share in existing regions [4] - Future product structure will emphasize high-end products, particularly adjustable light and sunlight materials, to enhance market competitiveness [4] Challenges and Market Conditions - The company faces challenges related to rising shipping costs due to the pandemic, although it has implemented strategies to mitigate these impacts [5] - The functional shading materials market is expected to grow rapidly as green building materials gain traction, presenting significant opportunities for expansion [5]

编号：2022-019 证券代码：300993 证券简称：玉马遮阳 山东玉马遮阳科技股份有限公司 投资者关系活动记录表 | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------|------------------|----------------------------------------------------------------------------------------|--------|----------|-----------------------------------|-------|------------------------------------------------------------------------| | 投资者关系 \n活动类别 | □ \n□ \n□ | 特定对象调研 □ 分析师会议 □ 媒体采访 \n业绩说明会 □ 新闻发布会 □ 路演活动 \n现场参观 √ | | | 其他-电话采访 | | | | | 1 、吕功绩 | | | 宝盈基金 | 蔡小为 ...

证券代码：300993 证券简称：玉马遮阳 山东玉马遮阳科技股份有限公司 投资者关系活动记录表 编号：2022-018 | --- | --- | --- | --- | --- | --- | |------------|------------------------------------|---------|--------------------------------------|--------|------------| | | □ | | 特定对象调研 □ 分析师会议 □ 媒体采访 | | | | 投资者关系 | □ | | 业绩说明会 □ 新闻发布会 □ 路演活动 | | | | 活动类别 | □ 现场参观 √ | | 其他-电话采访 | | | | | | | | | | | | 1 、赵中平、毕先磊 | | 招商证券 | 李晟 | 伊洛投资 | | | 杨爱琳 | | 财通基金 | 张帅 | 上海领久 | | | 林德涵 | | 兴银基金 | 周宇 | 兴银资管 | | | 戴雨横 | | 相聚资产 | 董亮亮 | 诺昌投资 | | | 冯佳安 | | 汐泰投资 | 杜新正 | 尚城资 ...

证券代码：300993 证券简称：玉马遮阳 编号：2022-017 山东玉马遮阳科技股份有限公司 投资者关系活动记录表 | --- | --- | --- | --- | --- | --- | |-----------------------|----------------------------------------------------------------------------------------------------|--------------|-------------------|--------|----------------------| | 投资者关系 \n活动类别 | □ 特定对象调研 □ 分析师会议 □ 媒体采访 \n□ 业绩说明会 □ 新闻发布会 □ 路演活动 \n□ 现场参观 √ | | 其他-电话采访 | | | | | 1 、罗乾生、刘芳依 | 安信证券 | | 刘岚 | 嘉实基金 | | | 付伟 | 博时基金 | | 李宁宁 | 中加基金 | | | 蔡硕 | 德丰华投资 | | 郑春 | 深圳市前海尚善资产 | | | 郭雅琪 | 横琴人寿保险 | | ...

Market Overview - The functional shading products have gained widespread recognition in developed countries such as Europe, America, and Australia, with a market penetration rate exceeding 70% [2] - The European shading industry employs over 500,000 people, with annual sales exceeding €500 billion, approximately ¥4,000 billion [2] - In 2021, the domestic shading industry in China was valued at ¥280.6 billion, with a market penetration rate of less than 5%, projected to reach ¥500 billion by 2025, with a CAGR of 17% [2] Company Background - The founder, Mr. Sun Chengzhi, has been dedicated to the shading industry since 1991, leading the development of new materials and technologies, resulting in over 100 patents [3] - The company aims to focus on the rapid growth of the functional shading product market and enhance its competitiveness [3] Customer Composition - Approximately two-thirds of the company's customers are finished product processors, while one-third are traders [3] Pricing Strategy - In 2021, the company raised prices by 3%-5% due to raw material price increases and exchange rate fluctuations [3] - The company is monitoring costs and will communicate with customers regarding price adjustments if necessary [3] Revenue Forecast - The revenue growth forecast for 2022 is set between 20%-35% year-on-year, considering various internal and external factors [3] Order Situation - Current orders for shading fabric products are maintained at around 2 months, adjustable light fabric at 3 months, and sunlight fabric at 5 months [3] Production Capacity - By the end of 2021, the company's production capacity reached 45 million square meters, with significant growth expected by the end of 2022 [4] - The company plans to complete all foundational construction by June 30, 2022, with full production capacity expected by 2023 [4] Seasonal Demand - The first quarter is typically a low season for production and sales due to the Spring Festival, while demand remains balanced in other quarters [4] Product Structure - The current product structure is evenly divided among three main categories, with plans to increase the proportion of adjustable light and sunlight fabrics while reducing shading fabric [4]

证券代码：300993 证券简称：玉马遮阳 投资者关系活动记录表 参与人员姓名 及单位名称 毕先磊、崔婕 招商证券 山东玉马遮阳科技股份有限公司 编号：2022-024 | --- | --- | --- | --- | --- | --- | |--------------|-------|-------|--------------------------------------|-------|-------| | | □ | | 特定对象调研 □ 分析师会议 □ 媒体采访 | | | | 投资者关系活 | □ | | 业绩说明会 □ 新闻发布会 □ 路演活动 | | | | 动类别 | √ | | 现场参观 □其他-电话采访 | | | | --- | --- | --- | --- | |--------------|------------------------------------------------------------------|----------------------------------------------|----------------------------- ...

投资者关系活动记录表 1 证券代码：300993 证券简称：玉马遮阳 山东玉马遮阳科技股份有限公司 编号：2022-025 | --- | --- | --- | --- | --- | --- | --- | --- | |--------------|-------|----------------------------------|--------|--------------|--------------------------------------|-------|--------------------------------------------------------------------| | | | | | | | | | | | | □ | | | 特定对象调研 □ 分析师会议 □ 媒体采访 | | | | 投资者关系活 | | □ | | | 业绩说明会 □ 新闻发布会 □ 路演活动 | | | | 动类别 | | √ 现场参观 √ | | | 其他-电话采访 | | | | | 1 、 | 王倩 | | 浙商证券 | 欧阳婧 | | 拾贝投资 | | | | 李宁宁 | | ...

证券代码：300993 证券简称：玉马遮阳 编号：2022-023 山东玉马遮阳科技股份有限公司 投资者关系活动记录表 | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------|---------------|----------------------------------------------------------------------------------------|-------|-------------------|---------------|--------|------------------------------------------------------------------------| | 投资者关系 \n活动类别 | □ \n□ \n□ | 特定对象调研 □ 分析师会议 □ 媒体采访 \n业绩说明会 □ 新闻发布会 □ 路演活动 \n现场参观 √ | | | 其他-电话采访 | | | | | | 韩欣、吴凡 | | 兴业证券 | | 殷悦 | 工银瑞信 | | | 毕 ...

证券代码：300993 证券简称：玉马遮阳 投资者关系活动记录表 山东玉马遮阳科技股份有限公司 编号：2022-026 | --- | --- | --- | --- | --- | --- | |-------------------------|-------------|--------------------------------------|-------|-----------------------------------------------------------------------------------------|------------------------------------------------------------------| | 投资者关系活 \n动类别 | □ □ \n□ | 现场参观 √ | | 特定对象调研 □ 分析师会议 □ 媒体采访 业绩说明会 □ 新闻发布会 □ 路演活动 \n其他-电话采访 | | | 参与人员姓名 及单位名称 | 王安亚 | | | 台湾东腾创投 | | | 时 间 | 2022 年 | 7 月 22 | | 日 16:30 ...

证券代码：300993 证券简称：玉马遮阳 山东玉马遮阳科技股份有限公司 投资者关系活动记录表 编号：2022-022 | --- | --- | --- | --- | --- | --- | --- | |------------|----------------------|----------------------------------------|--------------|-------------------|----------|------------------------------------------------------------------------| | | | | | | | | | | | □ 特定对象调研 □ 分析师会议 □ 媒体采访 | | | | | | 投资者关系 | | □ 业绩说明会 □ 新闻发布会 □ 路演活动 | | | | | | 活动类别 | | □ 现场参观 √ | | 其他-电话采访 | | | | | | 、杜金轶、陈健 | 深圳高申资产 | | | | | | | 2、于健、杨振、方建 钊、李天阳、张文珺 | 财通证券 | | 王东 ...