Wanma Co., Ltd.(SZ:002276) Chang Jiang Shang Bao·2025-07-24 23:47Core Viewpoint - Wanma Co., Ltd. plans to invest approximately 1.245 billion yuan in a new project in Qingdao to produce 350,000 tons of environmentally friendly polymer materials annually, aiming to alleviate capacity delivery pressure and fill market gaps [1][2]. Group 1: Expansion Plans - The new project will be established in the Dongjiakou Economic Zone of Qingdao, involving the construction of new facilities and production lines, with a total investment of about 1.245 billion yuan [2]. - The project will be developed in three phases over five years, from 2025 to 2030, focusing on products such as silane cable materials, low-smoke halogen-free cable materials, PVC cable materials, and shielding materials [2][3]. Group 2: Market Position and Strategy - Wanma Co., Ltd. has over 30 years of experience in the polymer materials sector, with its subsidiary, Wanma Polymer, maintaining a leading position in the industry [3]. - The expansion aligns with the company's "North-South linkage" strategy, enhancing market competitiveness and operational efficiency while facilitating product exports [1][2]. Group 3: Financial Health and R&D Investment - Despite significant investments, the company's financial status remains secure, with sufficient liquidity to support ongoing projects [4][8]. - R&D expenditures have consistently increased from 473 million yuan in 2021 to 657 million yuan in 2024, contributing to the company's technological and competitive advantages [9]. Group 4: Revenue and Profitability - The polymer materials business is a significant revenue source, with projected revenues of 4.872 billion yuan in 2023 and 5.185 billion yuan in 2024, accounting for 32.22% and 29.20% of total revenue, respectively [3]. - Overall revenue grew from 12.767 billion yuan in 2021 to 17.761 billion yuan in 2024, with net profit increasing from 271 million yuan to 555 million yuan in the same period [9].