Miracll(SZ:300848)2022-11-21 15:50Group 1: Company Overview - Meirui New Materials Co., Ltd. is a well-known domestic TPU (Thermoplastic Polyurethane) manufacturer and a national high-tech enterprise, focusing on R&D, production, and sales of TPU products used in various sectors including electronics, medical care, automotive, and 3D printing [2][3] - The company is actively promoting investment projects, including the polyurethane new materials industrial park in Hebi City, Henan Province, which is currently in the preliminary approval stage [2][7] Group 2: Financial Performance - In the first three quarters of 2021, the company achieved a revenue of 903 million CNY, representing a year-on-year growth of 77.76% [4] - The net profit attributable to shareholders was 76.08 million CNY, with a year-on-year increase of 29.23% [4] - The sales volume of TPU products increased by 29.51% compared to the same period last year [4] Group 3: Market Position and Competitive Advantage - The company's core competitive advantage lies in its ability to supply differentiated products efficiently and at low cost, supported by independent R&D and continuous innovation [3][4] - The company has established a strong customer base, with the top five customers accounting for 44.18% of total sales in 2020 [5] Group 4: R&D and Product Development - The company emphasizes R&D investment and product innovation, focusing on high-end products and technologies to meet market demands [6] - The company has developed PBS (Polybutylene Succinate), a biodegradable plastic, which shows better heat resistance and processing performance compared to widely used materials like PBAT and PLA [6][7] Group 5: Supply Chain and Procurement - The company has a centralized procurement system for raw materials, typically selecting one main supplier for each type of raw material to ensure stability and cost-effectiveness [4][5] - The procurement strategy includes annual contracts based on production forecasts to secure raw material supply [5]