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泰和科技(300801):新股网下申购询价建议报告

東莞證券 ·  Oct 21, 2019 00:00  · Researches

The company is a large-scale manufacturer of water treatment agents integrating R&D, production and sales. The products include scale and corrosion inhibitors, bactericidal and algicides, cleaning pre-film agents, chelating agents, dispersants, reverse osmosis agents, etc., which are widely used in electric, metallurgical, petrochemical and other industrial circulating cooling water systems, reverse osmosis systems (seawater desalination, pure water manufacturing, etc.), oil production, daily chemicals, textile printing, pulp and paper, ceramics, coatings, electronic cleaning, sugar production, aquaculture, agriculture, etc. It is a vice-chairman unit of the Industrial Water Treatment Professional Committee of the Chinese Society of Chemical Engineers, a governing unit of the National Functional Polymer Industry Committee, a member of the Water Treatment Branch of the National Chemical Standardization Technical Committee and one of the standard drafting units, a key high-tech enterprise of the National Torch Program, a high-tech enterprise in Shandong Province, and an innovative pilot enterprise. The company is one of the few large-scale domestic manufacturers of water treatment chemicals, and has formed a complete water treatment pharmaceutical product layout. In 2016 to 2018, the company's revenue was 897 million yuan, 1,118 billion yuan and 1,245 million yuan respectively, and net profit was 67 million yuan, 99 million yuan, and 186 million yuan respectively. The compound growth rates of operating income and net profit over the three years were 17.81% and 66.83%, respectively. In 2018, the company's comprehensive gross profit margin was 32.87%, and the net margin was 14.95%.

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