Company Overview - Xinde New Materials was established on November 7, 2000, and is recognized as a high-tech enterprise in Liaoning Province and a national-level specialized and innovative "little giant" enterprise [3]. - The company specializes in the research, production, and sales of anode coating materials and holds several core technologies and processes related to these products, positioning itself as a leading enterprise in the anode coating materials industry [4]. Financial Performance - For the first nine months of 2022, the company achieved a revenue of CNY 695 million, representing a year-on-year increase of 106.57%. The net profit attributable to shareholders was CNY 121 million, up by 10.16%, while the net profit after deducting non-recurring gains and losses was CNY 120 million, an increase of 24.62% [4]. - In Q3 2022, the company reported a revenue of CNY 263 million, with a year-on-year growth of 106.48%, and a net profit of CNY 42 million, reflecting a 72.68% increase [4]. Revenue Structure - The revenue growth in the first nine months of 2022 was primarily driven by increased sales of main products and the contribution from by-products. The revenue structure has shifted, with main and by-product revenues each accounting for 50% [4][5]. - The main products include coating materials, while by-products consist of cracked naphthalene distillate and rubber plasticizers. The main products account for nearly 70% of the net profit [5]. Production Capacity - The current production capacity is 25,000 tons per year, with an additional 30,000 tons per year under construction, expected to bring total capacity to 55,000 tons per year by next year [5]. - The company is operating at full capacity, and the first phase of the fundraising project, which includes 15,000 tons of integrated production capacity, is expected to commence production by the end of October or early November [4][5]. Market Position and Competition - The company has a high market share in high-temperature products, with over 50% of its coating materials being high-temperature and medium-high-temperature products. The demand for high-performance coating materials is increasing, with some customers transitioning from medium and low-temperature materials to high-temperature materials [5][6]. - The main competitors in the high-temperature segment are relatively few, with most competitors focusing on low and medium-temperature products [5]. Technological Advantages - The company possesses significant competitive advantages in production processes and equipment, including proprietary production technology and customized non-standard equipment, which enhance barriers to imitation by competitors [6]. - The company can produce all mainstream coating material specifications, including low, medium, medium-high, and high-temperature products, with a shorter switching cycle between different products [6]. Future Developments - The company is exploring the development of asphalt-grade carbon fiber, with engineering construction nearing completion and equipment debugging expected to begin soon. This product is anticipated to contribute to profits starting next year [7]. - The company is also assessing the potential for process improvements to increase the production of cracked naphthalene distillate while reducing the output of rubber plasticizers [6][7].
信德新材(301349) - 2022年10月26日投资者关系活动记录表