Redwall(SZ:002809)2022-12-03 09:20Group 1: Business Overview - The main business of the company is concrete additives, contributing to 81.74% of total revenue, with concrete additive revenue of 393 million CNY in the first half of 2018, a 71.84% increase from 280 million CNY in the same period last year [2][3]. Group 2: Production Capacity and Sales - The total production capacity is 240,000 tons, including 100,000 tons of naphthalene-based and 140,000 tons of polycarboxylate-based additives. The corresponding terminal product capacity is 850,000 tons [3]. - Sales of naphthalene-based additives reached 104,700 tons in 2017, a 23.32% increase from 84,900 tons in 2016. Polycarboxylate-based additives sold 279,300 tons in 2017, up 26.90% from 220,100 tons in 2016 [3]. Group 3: Profit Margins - The gross profit margin for polycarboxylate-based additives is 32.59%, while for naphthalene-based additives, it is 25.27% in the first half of 2018 [3]. Group 4: Market Expansion - The company is expanding its market presence across China, establishing subsidiaries in regions such as Central China, Southwest China, and Northwest China, while also strengthening sales teams in North China [4]. Group 5: Financial Performance - The company's revenue increased by 71.84% in the first half of 2018, but net profit attributable to shareholders only grew by 9.45%. This discrepancy is due to increased management expenses and a decrease in non-operating income [5].