Xingqiu Graphite(SH:688633)2023-12-28 10:34Group 1: Competitive Advantages - The company possesses multiple core technologies and actively reserves advanced technologies that represent industry development trends [2] - Recognized as a national manufacturing single champion demonstration enterprise and a national first batch of specialized and innovative small giant enterprises [2] - Emphasizes a strong R&D team with sufficient and experienced personnel to ensure comprehensive technical support during project execution [2] - Established a complete after-sales service system with professional service offices in key market areas to quickly resolve service issues [2] - Maintains stable relationships with numerous high-quality clients in the graphite equipment sector, including major groups like Sinochem and Xinfa Group [2] - Aims to extend its business towards the raw material end to better integrate technological and cost advantages [2] Group 2: Sales and Financial Policies - Sales contracts typically involve four stages: advance payment upon contract signing, payment before delivery, installation and debugging payment, and warranty payment [2] - Generally, the remaining 10% is retained as a warranty payment, which is released after a warranty period of 12 months from the equipment's operational start or 18 months from delivery, whichever is earlier [2] Group 3: Strategic Expansion into Graphite Material Production - The company aims to reduce dependence on upstream graphite raw material procurement by producing its own graphite materials, ensuring stable and reliable supply [3] - Plans to leverage national industrial policies and its own advantages to extend the industrial chain, enhance collaborative effects, and improve profitability and risk resistance [3] Group 4: International Market Development - The company has products sold in countries like India, Vietnam, and Russia, with ongoing efforts to expand into international markets [3] - A contract with Adani Group's subsidiary Mundra for a green PVC project amounts to $44,334,166, with a received advance payment of $4,357,138.40 [3] - Contract execution may be influenced by changes in political, legal, and market environments [3] Group 5: Convertible Bonds and Future Plans - The convertible bond conversion period is from February 4, 2024, to July 30, 2029, with a conversion price of 33.12 yuan [4] - The company encourages bondholders to convert and aims to enhance market recognition of its value through stable operational performance [4] Group 6: Industry Trends and Strategic Development - The company adheres to a four-in-one industrial structure focusing on materials, equipment, systems, and services, creating a closed-loop for energy-efficient equipment [4] - A new project for 20,000 tons of specialized and chemical graphite has been fully operational since August 18, 2023, marking a significant step in extending the upstream industrial chain [4] - The company is transitioning from equipment manufacturer to system integrator, enhancing its integrated delivery capabilities [4]