SHIHUA(SH:688093)2024-06-05 07:34Group 1: Company Overview - Suzhou Shihua New Materials Technology Co., Ltd. was established in 2010, focusing on functional materials for consumer electronics and display sectors [1] - The company has two manufacturing bases for composite functional materials in Suzhou and one sealant materials base in Zhangjiagang, which will begin trial production within the year [1] - The main product categories include electronic composite functional materials, optoelectronic display module materials, and precision process application materials, with electronic composite materials accounting for 80% of revenue [1] Group 2: Product Details - Electronic composite functional materials serve as the primary revenue source, used in smart terminal products with various functions such as thermal conductivity, electrical conductivity, electromagnetic shielding, and flame retardancy [1] - Optoelectronic materials are used in LCD and OLED displays, requiring high performance in electromagnetic shielding, thermal conductivity, warpage resistance, peel strength, weather resistance, and cleanliness [1] - Sealant products are expected to become a new growth point, with applications in consumer electronics and automotive electronics [1] Group 3: Client and Financial Insights - The top five clients are primarily downstream direct customers, mainly die-cutting manufacturers, with no significant changes compared to previous years [2] - The company maintains high-quality development through technological innovation and collaboration with leading clients, with an ongoing optimization of the business structure [2] - The overall gross margin may experience fluctuations in the future due to the optimization of the business structure [2] Group 4: Revenue and Market Trends - Revenue from precision process application materials was approximately 61.06 million in 2023, showing a decline due to the company's strategic resource allocation towards electronic composite and optoelectronic materials [2]