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怡达股份(300721)新股询价报告

Yida Co., Ltd. (300721) IPO Quotation Report

華鑫證券 ·  Oct 25, 2017 00:00  · Researches

The company focuses on alcohol ether and alcohol ether ester organic chemical products. The company's leading products are “Yida” propylene glycol ether and propylene glycol ether series products, ethylene glycol ether and ethylene glycol ether ester series products. These series of products are all “environmentally friendly” new materials and are widely used in paint, ink, electronics, copper-coated plates, automobile brake fluid, pesticides, pharmaceuticals, printing, cleaning agents, household chemicals and other industries. The company has developed a design and production capacity of 170,000 tons of alcohol ether and alcohol ether ester series products in Jiangsu, Zhuhai and Jilin, and its production capacity ranks among the highest in the industry. The company has outstanding technical strength and R&D capabilities, and has strong competitiveness in the industry. The company's ethylene glycol hexyl ether and diethylene glycol hexyl ether products are pioneered products in China. It is the first domestic enterprise that can industrially prepare these products on a large scale.

(1) The company has always placed product innovation first. By continuously increasing investment, the company has formed a R&D system with independent innovation capabilities, sufficient technical reserves and the ability to industrialize new products. At present, the company has obtained 28 patent certificates, including 23 invention patents. In recent years, the company has organically integrated the company's R&D direction with market demand through close cooperation with the downstream industry and by actively participating in downstream application seminars. On this basis, the company has also established industrial, academic, and research strategic alliances with universities such as Dalian University of Science and Technology and Nanjing Forestry University to fully develop and utilize their latest experimental research results to industrialize the laboratory results.

(2) The company is increasing product upgrades and application field expansion to enhance product profitability and market space. In the field of product application, the company expands new products into various fields through full cooperation with various downstream industry associations and famous domestic manufacturers. While maintaining existing downstream industries, the company is also committed to developing new fields of product application, such as the daily-use chemicals industry, gradually expanding the application space for the company's alcohol ether and alcohol ether ester products, and finding new growth points for the company's product sales.

(3) The company has now become one of the suppliers of well-known enterprises such as AkzoNobel, PPG, Nippon, etc., and occupies an important position in its supply system. Through long-term cooperation and accumulation, it has established a long-term stable cooperative relationship. At the same time, the company cooperated with well-known domestic and foreign companies such as BASF and Zhanchen to supply “customized ether and alcohol” raw materials. By integrating into the core supply systems of these major customers, the company will gradually benefit from increased demand brought about by the expansion of international giants' markets, new product development, etc., laying a good foundation for the company's continued development.

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