The market share of auxiliary machines in internal mixers is the first, and the intelligent cracking equipment of waste tires began to be popularized.
The company is a leading industrial intelligent equipment manufacturer in the industry, and its products are well-known in the domestic rubber products industry, among which the auxiliary engine of the intelligent environment-friendly internal mixer has the first market share. It has maintained a long-term and stable cooperative relationship with a number of well-known tire and rubber enterprises at home and abroad. Relying on the technical basis and equipment manufacturing experience in the field of intelligent conveying and batching system for rubber tires, the company has mastered a number of advanced technologies and equipment for deep processing of pyrolysis and carbon black of waste tires, and complete sets of intelligent cracking equipment for new products and waste tires began to be promoted to the market. The implementation plan of the extended producer responsibility system will establish a traceability system for waste tires, the "indigenous oil refining" will be banned in an orderly manner, and the demand for standardized disposal such as thermal cracking will be enhanced.
The rapid growth of silicon waste production and the leading purification technology of polysilicon are expected to open up new growth space. About 20% of the silicon material in the cutting process, 30% of the silicon material is worn and dropped, and becomes silicon mud waste. The rapid development of the global photovoltaic industry has led to a rapid increase in the demand for solar-grade polysilicon and a substantial increase in the production of silicon sludge waste. The output of silicon waste in China is about 150000 tons in 2020. The polysilicon vacuum purification technology independently developed by the company can increase the product purity to 99.99999%, which fully meets the raw material requirements of the photovoltaic industry, has high recovery efficiency, reduces energy consumption by more than 50% compared with the traditional process, and is ahead of the technical index. it is expected to open up a new space for growth.
Digital empowerment is upgraded from "equipment manufacturing" to "digital intelligent manufacturing". Aiming at the field of recycling intelligent equipment, combined with the company's technology accumulation in the fields of intelligent display, control system, 5G communication and digital technology, the company has created a more perfect integrated solution of intelligent equipment. In 2021, the company has signed a contract of 890 million yuan for distributed storage and big data applications, accelerating the landing of the digital intelligent manufacturing strategy.
Profit forecast: the net profit in 2021, 2022 and 2023 is expected to be 1.690.99 / 419 million yuan respectively, corresponding to PE is 25-14-10 times, covering for the first time, given a "highly recommended" rating.
Risk hint: the landing progress of the regulatory policy in the tire field is not as expected; the landing speed of the silicon waste purification project is not as fast as expected; the company's order growth is not as fast as expected.
