2019-05-07 13:58 source: Securities Times

On the evening of April 22, National Science and Technology (300716. SZ) released its 2018 performance report, achieving an operating income of 1.092 billion yuan, a year-on-year increase of 44.13%; Among them, the net profit attributable to the shareholders of the listed company was 55.5038 million yuan. National Science and technology said that this year it will continue to drive product upgrading with technological innovation, continue to improve operational efficiency and efficiency, improve the company's market share and industry position, and accelerate the layout of new application fields and markets.

Hit a new high in revenue by combining efficiency and quality

According to the announcement, affected by the global economic downturn and the industry cycle trough, the growth rate of the plastic industry in 2018 was not satisfactory. The total output of plastic products was 60.421 million tons, a year-on-year increase of only 1.1%. In this context, National Science and technology continued to increase R & D investment and improve product technology capabilities; At the same time, we will promote business with investment and cultivate new profit growth points; In addition, significant achievements have been made in adjusting and optimizing the business structure, improving quality, reducing costs and increasing efficiency.

It is understood that national science and technology has strengthened market expansion around its main business, and its main business has achieved substantial growth. Among them, the revenue of EVA environmentally friendly modified materials and products business, TPR environmentally friendly modified materials and products business, and trade business increased by 39.52%, 54.66%, and 218.58% respectively over the same period of last year. Industry insiders believe that national science and technology improves its core R & D competitiveness and optimizes its industrial structure, which is one of the factors that make its operating income record high; On the other hand, by integrating resources and building an eco circle of energy-saving, low-carbon and environmentally friendly new materials, it is expected to build a competitive barrier through "horizontal and vertical development" and enhance the comprehensive strength of the company.

The leading enterprise in the modified plastics industry has unique advantages and is widely favored by customers

Public information shows that there are more than 3000 enterprises engaged in the production of modified plastics in China, but only more than 70 enterprises with an annual production capacity of more than 3000 tons, and the production and sales of national science and technology modified plastics related products exceed the level of 10000 tons. Moreover, as one of the A-share listed enterprises in the modified plastics industry, National Science and technology is the leading enterprise in the modified plastics industry, which can drive the company's efficient and high-quality development with the help of the capital market. It is reported that the sales of modified environmental protection materials and modified environmental protection products of national science and technology reached a new high, reaching 369.8726 million tons and 66.8298 million pairs / 10000 pieces, respectively, with a year-on-year increase of 31.97% and 18.60%.

According to national science and technology, the company serves many well-known enterprises at home and abroad and has become its recognized material supplier. Its customers include caloch, Decathlon, SKECH, incase, Wal Mart, Xiaomi, Amazon, Disney and so on. In addition, modified recycled engineering plastics have been recognized by many well-known manufacturers, and their products have been widely used in shoe materials, electronic products, hardware and household appliances, auto parts, marine aviation, sports equipment, daily-use products and other fields, mainly thanks to: (1) strong R & D and innovation capabilities, which can easily meet the diverse needs of downstream customers and product varieties, fast replacement, and strong trendiness and variability. As of 2018, The company has accumulated 5296 modified plastic formulations; (2) Vertical industrial chain integration has achieved remarkable results in cost reduction and efficiency increase. At present, the company has expanded its industrial chain to fly textile products, new energy auto parts, intelligent electronic products, supply chain management, etc; (3) Rich experience in management and production. For many years, the company has focused on the field of low-carbon, environmental protection and renewable modified polymer materials. It has rich experience in production management and market development, and has a keen insight into customer needs.

Embrace the general trend of new energy vehicles and cultivate new drivers of performance growth

Lightweight is an important factor restricting the development of new energy vehicles. According to the data of the third-party consulting agency, the demand for resin by new energy vehicles is very large, accounting for more than 30% of the total resin market demand. Plastic materials can be seen in many important parts such as bumper, fuel tank, body cover and chassis. National Science and technology investment established Guangdong National New Power Technology Co., Ltd. and Chongqing Dajiang National Precision Machinery Manufacturing Co., Ltd., holding 51% and 57.25% of the shares, respectively, to lay out new energy automobile parts and components and drive the development of main business with investment. In the first quarter of 2019, Chongqing Dajiang national has achieved a revenue of 35.2605 million yuan, and its future performance is expected.