ANLI(SZ:300218)2023-09-28 10:28Group 1: Company Overview - Anli Co., Ltd. was established in July 1994, with the largest shareholder being Anhui Anli Technology Investment Group Co., Ltd. holding 21.9% of shares [1] - The second largest shareholder is Hefei Industrial Investment Holding Co., Ltd. with a 12.57% stake [1] - The actual controllers of the company include a management team with a combined indirect holding of 14.27% in Anli Co., Ltd. [1] Group 2: Production Capacity and Locations - The company has two production bases: Anli Industrial Park in Hefei, Anhui, and Anli Vietnam [3] - The production capacity is flexible based on order structure and production processes, with a stable utilization rate at Anli Industrial Park [3] - Anli Vietnam is planning to build four production lines, with two already operational since the end of 2022 [3] Group 3: Market Position and Clientele - The company focuses on a "2+4" strategy, with functional shoe materials and sofa home furnishings accounting for approximately 80% of revenue [3] - Emerging categories such as automotive interiors, electronics, sports equipment, and engineering decoration contribute about 20% of revenue [3] - Key clients include major brands like Nike, Adidas, and IKEA, with increasing cooperation intentions from large clients [3] Group 4: Industry Dynamics and Challenges - The polyurethane composite materials industry is characterized by rapid changes and a fast fashion model, requiring customized products with short production cycles of 3-15 days [4] - In the first half of 2023, overall demand was weak due to market conditions, but the second quarter showed improvement with a net profit turnaround [5] Group 5: Competitive Advantages and Future Plans - The company emphasizes brand leadership, innovation, and green ecology as part of its development path [5] - Plans to enhance production capacity for ecological functional polyurethane synthetic leather to around 100 million meters annually during the 14th Five-Year Plan [5] - The company aims to strengthen its market influence and comprehensive competitive strength through better management of Anli Vietnam [5]