SFX(600370)2024-04-11 07:36Group 1: Company Overview - Jiangsu Sanfangxiang Ju Materials Co., Ltd. is listed under stock code 600370 and convertible bond code 110092 [1][2]. Group 2: Investor Relations Activities - The annual performance briefing was held on April 11, 2024, from 09:00 to 10:00 at the Shanghai Stock Exchange Roadshow Center [2][3]. - The meeting was attended by the Chairman Mr. Bian Huiliang, Independent Director Mr. Chen Jun, and Secretary of the Board and CFO Ms. Yu Hongxia [2][3]. Group 3: Financial Performance and Concerns - The company reported a significant decline in net profit, with a drop of over 90% compared to the previous year [6][7]. - The gross profit margin of Sanfangxiang is currently at 1.3%, significantly lower than competitors Wan Kai and China Resources, which have margins above 5% [7]. - The company’s total revenue is nearly 30 billion, yet the stock price is below 2 yuan, ranking low in the market [7]. Group 4: Convertible Bonds and Financial Strategy - The company decided not to adjust the conversion price of its convertible bonds, which has been a concern for investors [4][5]. - The company has utilized idle funds for cash management, which has led to a decrease in cash reserves from 5 billion to 1 billion [4][5]. Group 5: Production Capacity and Projects - The annual production capacity for bottle sheets is 3.8 million tons, with a total output of 2.85 million tons in 2023 [6][8]. - The green multifunctional bottle sheet project with an annual capacity of 1.5 million tons is expected to be operational in the second half of 2024 [8].