DOWELL(SZ:300535)2023-11-03 11:18Group 1: Market Overview - The domestic market size for leather chemicals is approximately 8 billion to 10 billion, with imported leather chemical manufacturers holding a 40% market share [2] - There are over 200 domestic manufacturers of leather chemicals, with the top ten companies accounting for more than 40% of the market share [2] Group 2: Company Performance - Dawei Co., Ltd. is the first listed company in the leather chemicals sector, offering a complete range of chemical products that cover the entire leather production process [2] - The gross profit margin for Dawei's leather chemicals segment in the first half of 2023 is 40.53%, which is above the industry average of 10%-30% [3] Group 3: Customer Distribution - The company primarily focuses on domestic sales, covering major leather production bases in China, with over 1,000 downstream customers [3] - From January to September 2023, the top ten customers in the leather chemicals segment accounted for approximately 30% of total sales [3] Group 4: Future Strategy - The company plans to continue focusing on R&D in leather chemicals, increasing investment in technology, and optimizing product quality to meet market demands [3] - Dawei aims to expand its market share in the domestic chemical sector while also exploring international markets, particularly in Southeast Asia, Russia, and Ethiopia [3]