Feilu(SZ:300665)2022-11-19 01:10Business Overview - Feilu Co., Ltd. specializes in anti-corrosion and waterproof materials, special adhesives, and polymer composite materials, with a competitive edge in rail transit and is expanding into steel structures, engineering machinery, and civil construction [9][12]. - The company is actively developing the semiconductor sector, having acquired a semiconductor cleaning equipment company and established new companies for polishing cloths and cleaning liquids, addressing domestic substitution and high-tech projects [9]. Market Position and Achievements - Feilu is recognized as the first listed company in the rail transit anti-corrosion and waterproof materials sector, covering over 80 railway lines and participating in the construction of more than 20 urban rail transit projects [17]. - The company has been awarded the title of "Specialized, Refined, Characteristic, and Innovative" small giant enterprise by the state, indicating its strong R&D and sustainable development capabilities [19][58]. Production Capacity - The company has established several production bases, including: - Liling Dongfu Base: 60 million square meters/year for waterproof membranes and 35,000 tons/year for waterproof coatings [26]. - Changsha Wangcheng Base: 65,000 tons/year for anti-corrosion floor coatings and 20,000 tons/year for waterproof coatings [29]. - New factories are in trial production stages, expected to enhance supply capabilities as they ramp up production [78]. Strategic Planning - The company aims to deepen its focus on the first industry of polymer materials while expanding into the semiconductor sector, targeting the development of cleaning equipment and materials to achieve domestic substitution [44][45][63]. - Plans include leveraging new technologies and exploring innovative business models to enhance growth momentum [46][63]. Financial Performance and Market Response - The company reported a stable order situation, with expectations for continued growth in waterproof materials and coatings due to national infrastructure initiatives [50]. - Despite a strong operational performance, the stock price has faced volatility, influenced by broader market conditions [71]. Future Outlook - Feilu is committed to becoming a leading supplier in the semiconductor industry, focusing on cleaning equipment and materials, and aims to capitalize on the growing demand in this sector [45][81]. - The company is also exploring strategic partnerships to enhance its market presence and operational efficiency [65][82].