Basf(US:BASFY) Sou Hu Cai Jing·2025-09-13 03:20Company Overview - Zhejiang Jinhua New Material Co., Ltd. is a leading enterprise in the field of silane crosslinking agents and hydroxylamine salts in China, focusing on the research, production, and sales of ketoxime series fine chemicals [2][9] - The company was established on December 27, 2007, and transformed into a joint-stock company on July 13, 2009 [2] - The registered capital is 98 million yuan, and the company is located in the Quzhou High-tech Industrial Park, Zhejiang Province [2] Financial Performance - Total assets reached 1.322 billion yuan in 2024, up from 1.184 billion yuan in 2023 and 859.68 million yuan in 2022 [3] - The company reported a net profit of 210.94 million yuan in 2024, an increase from 172.51 million yuan in 2023 and 79.59 million yuan in 2022 [3] - The gross profit margin improved to 27.94% in 2024 from 27.65% in 2023 and 17.72% in 2022 [3] Business Model - The company employs a sales-driven production model, adjusting production plans based on sales forecasts [17] - The procurement strategy includes on-demand purchasing of raw materials like acetone and hydrogen peroxide, with a focus on supplier qualification and regular evaluations [17] - The sales model is primarily trade-based, with 78.40% of sales through traders and 21.60% through direct sales in 2024 [17] Industry Position - The fine chemical industry in China is projected to grow from 1.27 trillion yuan in 2008 to 6.5 trillion yuan in 2024, with a CAGR of 10.74% [14] - The silane crosslinking agent market is expected to see a production capacity increase from 288.37 million tons in 2024 to 365.40 million tons by 2028 [14][20] - The company holds a significant market share in the silane crosslinking agent and hydroxylamine salt sectors, with a market share of 38.16% and 42.37% respectively in 2024 [8][20] Research and Development - The company invests approximately 4.62% of its revenue in R&D, focusing on innovative products and sustainable practices [3][17] - It has established several provincial and ministerial-level research platforms, including a key research institute for ketoxime and silane new materials [17] Major Clients and Suppliers - The top five clients have a long-term cooperation history, with no single client accounting for more than 19.66% of total sales [22] - The primary supplier is Juhua Group, providing essential raw materials and energy, with a procurement share of 28.93% to 37.88% [23]