万朗磁塑深耕细分领域——小配件打通内外大市场

Core Viewpoint - Anhui Wanlong Magnetic Plastic Co., Ltd. has reported strong financial performance for the first three quarters of 2024, with revenue of 2.383 billion yuan, a year-on-year increase of 39.81%, and a net profit of 107 million yuan, up 5.86% year-on-year, driven by its focus on the refrigerator door seal segment [1] Group 1: Financial Performance - The company achieved a revenue of 2.383 billion yuan in the first three quarters of 2024, reflecting a 39.81% year-on-year growth [1] - The net profit attributable to shareholders reached 107 million yuan, marking a 5.86% increase compared to the previous year [1] Group 2: Product Development and Innovation - Wanlong Magnetic Plastic has invested nearly 20 years to develop world-class refrigerator door seals, which are now widely recognized in the market [2] - The company has transitioned from traditional PVC materials to innovative TPE (thermoplastic elastomer) materials for door seals, enhancing product performance and sustainability [2][3] - The introduction of water-cooling welding technology has resolved challenges in TPE application, leading to the development of over 60 new door seal products that improve energy efficiency by 3% to 5% [3] Group 3: Market Position and Strategy - Wanlong Magnetic Plastic has established itself as a leading player in the refrigerator door seal industry, recognized for its innovation and quality [4] - The company is expanding into modular business segments, such as refrigerator liners, and has invested in overseas factories to support global operations [5] - The management has identified automotive parts as a new growth area, with a strategic acquisition of Guo Taiyang Technology Co., Ltd. to enhance its product offerings in the EPS market [6]