SINO-HIGH(SZ:301076)2025-05-16 09:04Group 1: Product Performance and Market Expansion - HAP products are being increasingly used in high-end cosmetics, with significant growth expected in 2024 due to new customer acquisition and market penetration [2] - HDO products are being developed as a new type of cosmetic preservative, with production expected to start by December 2025 [3] - In Q1 2025, overall product sales increased by over 30% compared to the same period last year [4] Group 2: Financial Outlook and Pricing Strategy - The company's export revenue is approximately 30% of total revenue, with 7% coming from exports to the U.S. [4] - Product prices are expected to fluctuate based on raw material costs and market competition, with a projected recovery in gross margin in Q1 2025 [4] - The company has implemented long-term supply chain locking and cost hedging strategies to mitigate raw material price volatility [8] Group 3: Industry Trends and Competitive Landscape - The PEEK material market is experiencing growth, particularly in emerging fields such as humanoid robots and low-altitude economy [4] - The light curing materials industry is benefiting from stricter environmental policies, which are expanding the market for UV coatings and inks [5] - The company is focusing on high-end cosmetic raw materials and is actively developing new products to meet market demands [6] Group 4: Risk Management and Future Plans - The company is closely monitoring international market trends to mitigate risks associated with trade policies and tariffs, particularly in the U.S. [4] - Future revenue growth will be driven by sustained industry demand, technological advancements, and a solid operational foundation [6] - The company has authorized foreign exchange hedging to manage risks associated with currency fluctuations [7]