扬帆新材(300637) - 2018年11月29日投资者关系活动记录表

Company Overview - The company has two production bases, one marketing company, and four R&D centers [3] - Main product series include thiol compounds and photoinitiators, with core competencies in full industry chain advantages and over 30 years of industry experience [3] Market Insights - The global demand for light-curing products was 533,000 tons in 2015, with the company holding a 50%-60% market share of the photoinitiator 907, equating to a production capacity of 2,000 tons [3][4] - The company anticipates an increase in production capacity to nearly 3,000 tons under ideal conditions [4] Pricing and Supply Dynamics - The price increase of photoinitiator 907 is attributed to rising upstream raw material costs, stricter environmental policies, and a decrease in market supply [4] - TPO prices rose from 100,000 CNY/ton to over 400,000 CNY/ton due to supply shortages from major suppliers [5][6] Future Projections - The Inner Mongolia project is expected to have a production capacity of 29,000 tons, including 11,000 tons of photoinitiators and 18,000 tons of pharmaceutical intermediates [6] - The market for TPO is estimated at 5,000 tons currently, with future capacity expected to reach around 8,000 tons [6] Shareholder Activity - The company disclosed that a shareholder plans to reduce holdings by no more than 2 million shares within the next six months [4] - Other shareholders have already reduced their stakes significantly, with some locked in for a period [4] Acquisition Strategy - The company is open to acquisitions in related industries, prioritizing those that align with its business model and offer synergistic benefits [5]