Main points of investment:
The world's leading manufacturer of dye and pigment intermediates:
The company has been established for more than 30 years, focusing on the production of dyes and pigment intermediates, and has become the world's largest manufacturer of fine chemicals such as dyes and pigment intermediates. Among them, DSD, DMSS and DIPS are the company's main products, and DSD acid has a global market share of 57.4% and 27.4%, and is the number one supplier in the world. DIPS has a market share of 33.2%, ranking second in the world.
Production capacity and expansion plan:
The company now has a production capacity of 35000 tons of DSD, and the new production capacity of 20,000 tons will be put into production by the end of 2017. The production capacity of mononitrotoluene has reached 80,000 tons, and the PNT produced by mononitrotoluene can be used to produce DSD, and the existing PNT production capacity can meet 85% of the company's raw material demand. After technical upgrading, DATA will expand its production capacity from 1000 tons to 2500 tons, which will be completed by the end of the year. The production capacity of DMSS is 4500 tons and that of DMAS is 1500 tons. NMP6000 tons have been put into production.
DSD acid has the first market share in the world:
Laike successfully developed DSD acid in 1986. At the beginning of its establishment, it mainly produced and sold DSD acid. It has 30 years of experience in this industry. Through the technological transformation of the R & D center, the company ensures that the quality and cost of DSD acid production is lower than that of competitors. DSD acid is mainly used in the production of fluorescent brightener (OBA), while OBA is mainly used in paper, textile and detergent.
Developed countries shut down a large amount of production capacity because of environmental protection requirements, and the main production capacity of DSD acid is concentrated in developing countries. Lottery customers have invested more than 200 million yuan in safety and environmental protection, and the three wastes can fully meet the emission standards after treatment.
DSD acid accounts for more than 60% of the company's revenue and a gross profit margin of 34%. The company has an existing production capacity of 35000 tons, and an additional 20, 000 tons will be put into production by the end of 2017, when the global market share of DSD acid will reach more than 85%.
Vertically integrated industry chain:
The company achieves 80,000 tons of production capacity through the acquisition of mononitrotoluene, which is the upstream product of DSD acid and reacts to form PNT, MNT and ONT. PNT is mainly used to produce DSD acid, and it will also increase the production capacity of 2B acid and 4B acid in the future. Another product ONT, which can be reacted to form OT, is an intermediate for the production of herbicides.
The company will enrich its product range and increase its production capacity through acquisitions and mergers. In the future, the company will develop downstream products such as herbicide raw material MEA and optical brightener OBA used in paper, detergent and textile production.
2015 results:
The company's 2015 revenue was 875 million yuan, down 2.4% from the same period last year. Net profit was 102 million yuan, down 29% from the same period last year, mainly due to lower sales prices of the company's main products and an one-time fee of 19.7 million yuan due to listing in 2015, with a gross profit margin falling from 38% to 30.8%.
Competitive advantage:
As a leading enterprise in the subdivision industry, the company has strong economies of scale in output, market share and raw material procurement, and has advantages in cost control. The company relies on the support of the lottery R & D center, which makes the company have advantages in technology, quality and new product technology. In this subdivision industry, the company maintains a good cooperative relationship with customers for a long time, and its products are certified internally and will not be easily replaced. The company's main customers are international chemical giants, and nearly half of its sales revenue comes from the top five customers of the company. Lottery customers pay attention to the investment in safety and environmental protection, and the investment in this area is more than 200 million yuan, ensuring that the lottery customers comply with the relevant regulations in terms of safety and environmental protection. The management team has rich industry experience.
As a manufacturer of dyes and pigment intermediates, the raw materials are mainly petroleum processed products, and the sales price of the products will fluctuate with the oil price, and the sales income will also fluctuate. however, through long-term cooperation with customers and the advanced nature of the production technology, the lottery can maintain the company's gross profit margin.
The company's existing business can develop continuously and steadily, and the main focus in the future is the application of pesticide intermediates and their downstream.
