Tibet GaoZheng Explosive (SZ:002827)2022-12-03 10:12Group 1: Company Performance and Market Position - The company's gross margin for civil explosives is slightly higher than that of similar market products [4] - Recent performance has seen a decline due to the opening of the civil explosive market in Tibet, prompting management to adjust future strategic plans [4] - The company currently has no significant improvement in performance from the Belt and Road Initiative [4] Group 2: Market Development and Strategy - The company is actively expanding its civil explosive market in the region and has signed a framework agreement with China Railway Material Group [5] - Future development will focus on integrated blasting services [5] - The company has established sales outlets in various cities within the Tibet Autonomous Region [8] Group 3: Competition and Risks - The main competitors in the Tibetan civil explosive market include Yuteng Sales Company and Zhongjin Xinlian Blasting Company [11] - The company faces market risks primarily due to changes in industry policies [6] - The competitive advantages include a comprehensive service system and a strong marketing network [9] Group 4: Future Outlook and Projects - The company is preparing for the supply of explosives for the Sichuan-Tibet Railway project, with expected demand greater than previous projects [7] - The company remains optimistic about future growth due to ongoing infrastructure development in Tibet [13] - The company has no current export markets or overseas sales [7] Group 5: Talent and R&D - The company currently lacks R&D investment but plans to enhance talent resources and develop independent technology [6] - Recruitment focuses on practical skills and adaptability [12] - The company has not implemented any equity incentive plans [7]