YONGTAI TECH.(SZ:002326)2022-11-22 02:52Company Overview - Zhejiang Yongtai Technology Co., Ltd. was established in 1999 and listed in 2009, headquartered in Taizhou, Zhejiang Province [1] - The company focuses on fluorine fine chemicals, with main products categorized into pharmaceuticals, pesticides, lithium batteries, and other materials [1] - Approximately 60%-70% of sales are from exports, with major clients including Merck, BASF, Bayer, and Syngenta [1] Financial Performance - In Q1 2021, the company achieved revenue of 853 million CNY, with a net profit of 86.13 million CNY, marking a year-on-year growth of 892.04% [1] Industry Insights - The fluorochemical industry is divided into organic and inorganic fluorochemicals, with the company specializing in high-tech, high-value-added products [2] - The demand for fluorine fine chemicals is stable and has a certain degree of rigidity, making it resilient even in economic downturns [2] Core Technologies - The company has developed four core technologies: 1. Directional fluorination technology 2. Advanced chiral enzyme catalysis technology 3. Green reaction technology, with a patented product winning a national award in 2017 4. Co-production patent technology, allowing for the utilization of by-products [2] Future Growth Points - Four key projects are set to drive profit growth over the next 2-3 years, including intermediates, active pharmaceutical ingredients, formulations, and lithium battery materials [3] - The company is expanding its production capacity for intermediates and pharmaceutical raw materials, with several projects already in trial production [3] Strategic Development - The company aims to enhance existing production facilities, improve management and R&D capabilities, and deepen customer relationships to ensure sustainable growth [4] - Future focus areas include the pharmaceutical sector and lithium battery materials, leveraging core technologies for further development [4] Project Progress - The Inner Mongolia project is expected to produce 18,715 tons of fine chemicals and 30,000 tons of potassium fluoride annually, with trial production having commenced [3] - The company is also developing high-quality lithium hexafluorophosphate and other electrolyte additives, with plans for full coverage in the lithium battery supply chain [4][5] Market Outlook - The market for lithium hexafluorophosphate and lithium bis(fluorosulfonyl)imide is promising due to their high conductivity and stability, with significant future demand anticipated [5]