仁信新材(301395) - 2024年9月11日投资者关系活动记录表

Group 1: Company Overview - The company, Huizhou Renxin New Materials Co., Ltd., is primarily engaged in the research, production, and sales of polystyrene polymer new materials and is recognized as a national high-tech enterprise [2]. - The main product, polystyrene, is widely used in various fields including electronics, optical displays, toys, daily plastic products, packaging, construction materials, and medical devices [2]. Group 2: Market and Industry Trends - The polystyrene industry in China is currently in a rapid development phase, driven by the fast growth of the national economy and rising consumer spending [2]. - Policies aimed at stimulating domestic demand and promoting industrial upgrades, such as the "Action Plan for Large-Scale Equipment Updates and Replacement of Consumer Goods," are expected to further boost demand for polystyrene [3]. Group 3: Financial Performance - In the first half of 2024, the company achieved total operating revenue of CNY 1,034.18 million, an increase of 4.51% compared to the same period last year [3]. - The net profit attributable to shareholders was CNY 23.23 million, reflecting a slight increase of 0.25% year-on-year [3]. Group 4: Raw Material and Cost Management - The company sources its main raw material, styrene, through long-term procurement agreements with CNOOC Shell, ensuring supply stability and cost efficiency [4]. - Strategies to mitigate cost pressures include entering into futures hedging contracts and increasing market share in high-end products to enhance gross margins [4]. Group 5: Production and Capacity Expansion - The company is currently expanding its production capacity, with a new project expected to produce 180,000 tons of polystyrene annually, scheduled for completion by the end of 2024 [5]. - The focus of new capacity will be on high-end products, including GPPS specialty materials and high-gloss, low-temperature resistant HIPS specialty materials [5]. Group 6: Future Outlook and Development Plans - The company is actively planning to develop new materials beyond polystyrene, leveraging the abundant raw material resources in the Huizhou Daya Bay petrochemical area [5]. - In 2023, the company distributed cash dividends of CNY 10 per 10 shares, totaling CNY 144.92 million, and plans to continue rewarding investors in line with legal regulations and company needs [5].