Exciton(SZ:300566)2023-10-25 14:38Group 1: Company Overview - The company primarily engages in the development, production, and sales of optical films and functional films, divided into three main segments: optical films, photovoltaic films, and automotive films [2][3] - The company emphasizes precision coating technology and has developed new products based on proprietary formula and process technologies [2][3] Group 2: Financial Performance - In the first three quarters of 2023, the company achieved operating revenue of 1.643 billion CNY, a year-on-year increase of 7.39% [3] - The net profit attributable to shareholders was 88.4678 million CNY, up 161.11% year-on-year [3] - In Q3 2023, the operating revenue reached 666 million CNY, with a net profit of 38.4909 million CNY, reflecting a significant year-on-year growth of 983.22% [3] Group 3: Product Development and Market Position - The company has been focusing on high-end optical films, including composite films and quantum dot films, to meet market trends for larger screens and higher color ranges [3][4] - The photovoltaic backsheet sales have shown high growth, with major clients including Jinko and Longi, and the products have received high recognition in the market [3][4] - The company is advancing its photovoltaic encapsulation film project, with EVA and EPE products already in mass production and contributing to revenue [3][4] Group 4: Challenges and Future Outlook - The company faced challenges in the previous year due to the pandemic, but has seen improvements in product structure and quality, leading to new customer acquisitions [3][4] - The backsheet business has been growing annually, with increasing market share in both P-type and N-type components [4] - The encapsulation film business is progressing, with sales reaching 100 million CNY in the first three quarters, although it is currently in a loss state due to high raw material costs [4]