① Wu Jiang said that the product structure will be further optimized, cost control will continue to be strengthened, and the development of market fields such as new energy vehicles and consumer electronics will be actively strengthened, etc. ② Regarding the progress of the lithium battery wet insulation film project, which the market is generally concerned about, Li Jianyi said at the performance meeting that the project is progressing normally according to plan.
“Science and Technology Innovation Board Daily”, November 23 (Reporter Wu Xuguang) With the gradual recovery of major consumption of automobiles, homes, and electronic products, domestic modified plastics companies have recently ushered in a growth season.
“The sharp increase in performance in the first three quarters was mainly due to the company strengthening development of new energy vehicles, consumer electronics and other market fields, further optimizing product structure, and continuing to strengthen cost control.” Li Jianyi, chairman and general manager of Huitong Co., Ltd., responded to the “Science and Technology Innovation Board Daily” reporter's statement at the third quarter results briefing held today.
Huitong Co., Ltd. is mainly engaged in R&D, production and sales of modified plastics. It can provide high-performance and functional overall material solutions. It is one of the largest modified plastics companies in China with the widest customer coverage.
At the performance meeting, Wu Jiang, secretary of the board of directors of Huitong Co., Ltd., said that the company achieved revenue of 1,457 billion yuan in the third quarter, an increase of 10.04% over the previous year; realized net profit of 49.0294 million yuan, an increase of 296.70% over the previous year; and achieved net profit of 4,0231,700 yuan, an increase of 449.93% over the previous year.
In the first three quarters of this year, the gross margin of Huitong Co., Ltd. was 13.76%. Although it was up 3.73 percentage points from 10.03% in the same period last year, it was lower than many comparable listed companies in the same industry. Specifically, in the first three quarters of this year, the gross margins of Prite and Dongcai Technology, the leading A-share listed companies in the industry, were 17.19% and 19.21% respectively, which was 3.43 percentage points and 5.45 percentage points higher than the gross margin of Huitong Co., Ltd. for the same period.
Regarding how to increase the company's gross profit margin, Wu Jiang said at this performance meeting that the company will further optimize its product structure, continue to strengthen cost control, and actively strengthen market development in new energy vehicles, consumer electronics, etc.
Some industry analysts believe that there are many manufacturers in the modified plastics industry in China, competition is fierce, and the problem of homogenization of product technology is serious.
In response, Li Jianyi once said that the long-chain nylon modified material developed independently by the company can be applied to downstream products such as structural parts and functional parts of automobiles, breaking the situation where this material has been dependent on imports for a long time. “Among them, in the field of communication segmentation, the company has developed dielectric PPO materials with adjustable dielectric constants, low dielectric losses, and stability in response to the high requirements of communication base station signal transmission. This technology has been tested and approved by many communication companies and sold in batches.”
At the performance conference, when introducing the company's latest order situation, Li Jianyi said that the company's current order situation remains stable, and will strengthen the development of market fields such as new energy vehicles and consumer electronics, seize opportunities for import substitution and technology iteration, incubate product directions with high added value and representative future industry trends, and create its own core products.
As the global lithium battery industry expands at an accelerated pace, Huitong Co., Ltd. is speeding up the deployment of the new energy sector and creating a second growth curve.
On the evening of June 26 this year, Huitong Co., Ltd. issued an announcement stating that it plans to jointly establish Anhui Huitong New Energy Technology Co., Ltd. with Wuhu Chuangtao Enterprise Management Partnership (Limited Partnership) to build a lithium battery wet insulation film project with an annual output of 1.7 billion square meters. The project plans to invest a total of 2 billion yuan and build 8 wet insulation film production lines.
Regarding the progress of the lithium battery wet insulation film project mentioned above, which the market is generally concerned about, Li Jianyi said at the performance meeting that the project is progressing normally according to plan.
Although the various business sectors of Huitong Stock are benefiting from increased market demand and are on an upward trend, they will still face the test of lifting the ban on restricted shares.
According to data, on November 9 of this year, Huitong Co., Ltd. issued an announcement on the initial public offering of some restricted shares. The number of restricted shares currently listed and circulated is 140 million shares, accounting for 30.61% of the company's total share capital. The unbanned shareholder, He Qianshang, the largest shareholder, is the daughter of He Xiangjian, the actual controller of Midea Group.
It should be noted that between July 20 and August 10 this year, Ho Sin-chang reduced her holdings of Huitong shares by about 940,000 “convertible bonds”, accounting for 11.36% of the total amount issued.