shenjian gufen(002361)2022-12-03 09:50Group 1: Company Overview and Product Development - The company specializes in chemical new materials, particularly polyester resins, which are categorized into outdoor and mixed types, with applications in various industries such as home appliances, construction materials, and automotive [2][3] - In 2017, the company achieved polyester resin sales of 133,000 tons, marking a 5% year-on-year increase and maintaining a leading market share [3] - The company is increasing investment in technological innovation, expanding its product range from metal surface coatings to non-metal surfaces, with promising future prospects despite initial slow market promotion [3][4] Group 2: Market Challenges and Strategic Opportunities - The company faces challenges due to rising raw material costs, which have impacted profit realization as product price increases lag behind [3] - As an industry leader, the company sees opportunities for horizontal integration during the industry's consolidation phase, aligning acquisitions of quality assets with its strategic planning [4] Group 3: High-end Equipment Manufacturing Sector - The high-end equipment manufacturing sector is supported by rail transportation and aerospace industries, with the "Beidou Navigation" business complementing these efforts [4] - The company has developed proprietary technologies in high-pressure liquid forming, powder hot isostatic pressing, 3D printing, and composite material applications, enhancing its competitive edge [4][5] Group 4: New Project Developments - The Huangshan Shenjian project, with an annual production capacity of 50,000 tons of polyester resin, is expected to commence production this month [5] - The Ma'anshan Shenjian project, with a capacity of 40,000 tons of NPG, is currently under construction and is expected to be completed by the end of the year [5] - The Xi'an Jiaye R&D center project is anticipated to be completed by the end of the year, with ongoing procurement and installation of related equipment [5]