RUIFENG CHEM(SZ:300243)2022-12-06 08:18Group 1: Company Background and Market Challenges - The company, Shandong Ruifeng High Polymer Materials Co., Ltd., faces growth pressure in its original business due to a sluggish macroeconomic environment and increasing competition in the PVC and ACR product sectors [1][2] - The ACR product industry has low entry barriers, while MBS products are affected by price competition from foreign counterparts, intensifying market competition [2] Group 2: Product Development and Competitive Advantages - The company has shifted focus to synthetic materials, benefiting from supportive industrial policies, with high polymer synthetic materials being essential across various sectors [2] - The main products include PBT fibers and resins, PBAT, and TPEE, with TPEE being a key future product direction due to its wide application in automotive, medical, and high-end electrical sectors [3][4] Group 3: Financial Performance and Profitability - TPEE products have a high added value, with a gross margin exceeding 40% [4] - The company has made performance commitments for the next three years, ensuring net profits of no less than 50 million, 65 million, and 78 million yuan for 2016, 2017, and 2018, respectively, totaling 193 million yuan [5] Group 4: Future Development Strategy - The company aims to strengthen its material industry through a combination of organic growth and external expansion, targeting to become a strong, technologically advanced, and profitable new materials listed company [5][6] - Post-transaction, the company will maintain operational independence while enhancing management and financial practices to improve asset quality and sustainable profitability [6][7]