J-Micro(300819)2022-11-11 03:07Group 1: Company Overview - The company specializes in the application development and manufacturing of ultra-fine fiber products, not the production of ultra-fine fibers themselves [1] - Main products include ultra-fine fiber finished products, imitation leather fabrics, functional fabrics, and cleanroom products, used in home textiles, sportswear, and automotive sectors [1] Group 2: Business Model - The company promotes its products through domestic and international exhibitions to secure orders [1] - It operates on a made-to-order basis, catering to specific customer requirements [1] Group 3: Financial Performance - The gross profit margin for the company's main products has not significantly changed in 2020 and 2021 [1] - The decline in gross profit margin is attributed to the acquisition of Langxi Yuanhua Textile Co., Ltd. and the impact of the pandemic, which led to underutilization of orders [1] - In the first half of 2022, the company saw an increase in orders compared to the same period last year, but performance has not yet returned to pre-pandemic levels [1] Group 4: Product Applications - Automotive interior fabrics are primarily used in car seats, headliners, and door panels, applicable to both traditional fuel and new energy vehicles [2]