Group 1: Research Overview - Research object: Licheng Industry [17] - Industry: Chemical products [2][17] - Reception time: October 10, 2025 [17] - Company reception staff: Board Secretary Zhong Cheng, Securities Affairs Representative Liu Zenghui [17] Group 2: Detailed Research Institutions - Institution: Taikang Asset [20] - Institution type: Insurance asset management company [20] - Related personnel: Wang Fenglin [20] Group 3: Main Content Company's main business - The company is based in the fine - chemical field, with R & D, production, and sales of surfactants and washing products as its main business. It has three production bases in Changsha, Shanghai, and Dongguan, with an annual surfactant production capacity of over 600,000 tons and an annual washing product production capacity of about 250,000 tons. The overall capacity utilization rate in 2024 was 86% [24] Pricing logic and procurement strategy - Surfactant product prices are generally set based on the model of "main material cost + other costs + reasonable profit". The company has a procurement department, adopts a "supply - sales linkage" model, monitors raw material price fluctuations, formulates annual procurement plans, and adjusts raw material inventory according to market conditions [24] Technological advantages - The company is equipped with international leading production and testing equipment, uses automation control and product blending technologies, and its dioxane control and color control technologies are at the domestic leading level, meeting high - quality and customized requirements [24][25] Strategic development - The core business is the R & D, production, and sales of surfactants. The company will build a multi - category product matrix, expand application fields, and conduct external investment and mergers and acquisitions [25][26] Foreign business - The company's foreign sales are growing strongly. The foreign sales revenue increased from 199 million yuan in 2021 to 600 million yuan in 2024, a cumulative increase of over 300%. The foreign sales revenue in the first half of 2025 was 418 million yuan, a year - on - year increase of 53.07% [26]
丽臣实业分析师会议-20251010