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新股网下申购询价建议报告:锦鸡股份(300797)、钢研纳克(300798)

IPO Offline Purchase Request Proposal Report: Jinji Co., Ltd. (300797), Steel Research Corporation (300798)

東莞證券 ·  Oct 14, 2019 00:00  · Researches

Founded on March 21, 2001, the company is an innovative enterprise specializing in the research, development and application of metal material testing technology. At present, the main services or products provided by the company include third-party testing services, testing and analytical instruments, reference materials / reference samples, capability verification services, corrosion protection engineering and products, and other testing extension services. The company's services and products are mainly used in iron and steel, metallurgy, non-ferrous, machinery, aerospace, high-speed rail, nuclear power, automotive, new materials, environment, food, petrochemical and other fields. The company is committed to becoming a technical leader in China's metal material testing industry. The company is not only the authoritative testing institution in the domestic iron and steel industry, but also one of the most complete and comprehensive testing and research institutions in the field of metal material testing in China. The company has-National Iron and Steel material testing Center,-National Iron and Steel Product quality Supervision and Inspection Center,-National Metallurgical Industry Steel Nondestructive testing Center, three national new material testing and evaluation platforms-Iron and Steel Industry Center,-National Local Joint Engineering Laboratory for testing and characterization equipment of New Metal Materials,-Industrial (Special Steel) Product quality Control and Technology Evaluation Laboratory, Three national scientific and technological innovation platforms. The company has undertaken material testing and other key tasks in national major projects and key projects such as high-speed railway, commercial aircraft, aerospace engineering, nuclear power industry and Beijing Olympic Games.

From 2016 to 2018, the company's income was 371 million yuan, 398 million yuan and 506 million yuan respectively, and the net profit was 45 million yuan, 42 million yuan and 64 million yuan respectively. The compound growth rate of operating income and net profit in the three years was 16.75% and 19.91% respectively. In 2018, the company's comprehensive gross profit margin is 42.93%, and the net profit rate is 12.71%.

Jinji co., Ltd.

The company is a professional dye manufacturer in the forefront of the industry in China, with strong R & D and technical capabilities. At present, it has 28 series and 424 varieties of reactive dye products. It has become a comprehensive professional dye manufacturer of reactive dye product series and varieties in China. The main products are reactive dyes, which are used for textile dyeing and printing. The company is the "National Torch Plan Taixing Fine and Special Chemicals Industrial Base". "Spark leading Enterprises in Jiangsu Province" and "Top 100 Private Science and Technology Enterprises in Jiangsu Province", it is the national chemical industry standard drafting unit, the director unit of China Dye Association, the group member unit of China Chemical Environmental Protection Association, and the executive director unit of Jiangsu Chemical Industry Association. It is "Jiangsu Enterprise Technology Center", Jiangsu Province's first batch of "innovative enterprises", "Jiangsu postdoctoral innovation practice base", "Jiangsu science and technology small and medium-sized enterprises", "Jiangsu Province information and industrialization integration demonstration enterprises". It is a national standardization 3A-level enterprise and Jiangsu quality credit 2A enterprise. "Caragana" reactive dye is a famous trademark and famous brand product in Jiangsu Province, which is well-known at home and abroad.

From 2016 to 2018, the company's income was 1.001 billion yuan, 1.068 billion yuan and 1.202 billion yuan respectively, and the net profit was 116 million yuan, 109 million yuan and 104 million yuan respectively. The compound growth rate of operating income and net profit in the three years was 9.59% and-5.31% respectively.

In 2018, the company's comprehensive gross profit margin was 20.88%, and the net profit rate was 8.79%.

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