HAOMEI(SZ:002988)2024-03-20 09:56Company Overview - Guangdong Haomei New Materials Co., Ltd. specializes in the research, design, production, and sales of aluminum profiles for construction and industry, including lightweight aluminum profiles for automobiles [3]. - The company has established a complete aluminum-based new materials industry chain from smelting to deep processing [3]. Financial Performance - In 2023, the company achieved record-high operational metrics since its establishment: - Aluminum profile sales reached 252,400 tons, a year-on-year increase of 8.99% [3]. - Sales revenue amounted to 5.986 billion yuan, a year-on-year growth of 10.6% [3]. - Net profit attributable to shareholders was 181 million yuan, with a net profit of 180 million yuan after deducting non-recurring gains and losses [3]. Business Segments System Windows - The system windows business generated sales revenue of 503 million yuan in 2023, marking a significant year-on-year increase of 54.8% [3]. - The company capitalized on the "carbon peak" and "carbon neutrality" goals, enhancing market penetration in a challenging real estate environment [3][4]. Automotive Lightweighting - The automotive lightweighting segment saw sales revenue of approximately 1.272 billion yuan in 2023, reflecting a year-on-year growth of 36.31% [3]. - The company introduced 70 new designated projects in 2023, totaling over 300 designated projects to date [3][4]. Investor Q&A Highlights - The company maintains a stable collection process with minimal bad debts, primarily working with leading window manufacturers rather than directly with real estate companies [4]. - Competitive advantages in automotive lightweight products include: - Technical superiority with core technologies in smelting, casting, extrusion, and heat treatment [4]. - Established relationships with major automotive manufacturers, having received IATF16949 certification [4]. Market Strategy - In response to the declining real estate market, the company adjusted its product structure to focus on commercial and industrial building clients, which has led to improved profit margins [4]. - The pricing model for products is based on "aluminum ingot price + processing fee," helping to mitigate price fluctuations [4].