CSG(SZ:000012)2022-12-06 11:11Financial Performance - In 2015, the company achieved a revenue of 7.4 billion CNY and a net profit of 620 million CNY, with a net profit of 299 million CNY after deducting non-recurring gains and losses [2] - The company faced significant pressure due to the overall macroeconomic situation and industry challenges, with the float glass industry experiencing losses [2] Industry Outlook - The company anticipates continued pressure in the operating environment for the current year, with issues of overcapacity in the industry not fully resolved [2] - Confidence remains in the company's performance due to factors such as extending the industrial chain into photovoltaic power stations and cost reductions from natural gas price declines [2] Production and Capacity - The company’s production line in Qingyuan is currently in trial production, with plans to stabilize production before transitioning to formal operations [2] - The Qingyuan line has a capacity of 1 million square meters per month [4] Product Specifics - The company primarily produces processed and coated solar glass, accounting for over 70% of its output [3] - The profit margin for sodium-calcium ultra-thin glass has decreased, particularly for the 1.1mm product, which now has a margin of less than 20% [4] Natural Gas Usage - Natural gas constitutes approximately 30%-40% of the cost for float glass production [5] - The company has long-term supply contracts for natural gas, with prices adjusted according to market and policy changes [2] Investment and Expansion - The company is awaiting regulatory approval for a capital increase, with a proposed issue price of 8.89 CNY per share [4] - The company’s hollow LOW-E glass production capacity stands at 13.2 million square meters, with plans to focus on differentiated products due to market overcapacity [5]