Online article of listed companies in China.
As the cornerstone industry of China's industrial transformation and upgrading, the new material industry has always been highly valued and supported by national policies. In recent years, the relevant competent departments represented by the Ministry of Industry and Information Technology and ** have successively issued a series of incentive policies such as the "Guidance Catalogue for the First Batch of Application Demonstration of Key New Materials (2018 Edition)", the "Special Action Plan for Improving Manufacturing Design Capacity (2019-2022)", and the "14th Five-Year Plan" Raw Material Industry Development Plan.
It is reported that Shenzhen Jundingda New Materials Co., Ltd. (hereinafter referred to as "Jundingda" or the company) was established in 2004, the company's main business is the design, research and development, production and sales of polymer modified protective materials, the main products include functional protective sleeves and functional monofilaments, etc., which are widely used in automobiles, construction machinery, rail transit, communication electronics and other fields. The number of this public offering** does not exceed 1,0000000000 shares, accounting for no less than 25% of the total share capital after issuance, to be listed on the GEM of the Shenzhen Stock Exchange, and the sponsor is China Securities Construction Investment**. After years of development, Jundingda has gradually grown with its advanced core technology and business model, and has now become one of the largest manufacturers of braided network management and monofilament in China.
It has strong scientific research and innovation capabilities, and gives full play to the advantages of core technologies
Jundingda attaches great importance to R&D work, adheres to the advanced needs of high-quality customers, carries out technology and product development in combination with industry development trends and future business planning, and invests resources to carry out research and development of new products, new processes and new technologies every year as planned. According to the prospectus, during the reporting period, the amount of R&D expenses of Jundingda was 1,316590,000 yuan, 1,387990,000 yuan, 1,965130,000 yuan and 968820,000 yuan, and the total amount of R&D expenses in the past three years was 4,669710,000 yuan, with a compound growth rate of 2217%。
With the support of policies and the improvement of the industry situation, after years of R&D investment and production experience accumulation, Jundingda has formed a self-developed core technology in material formulation, product structure design and molding. Through the use of the company's independent research and development of core technology, the company's products wear resistance, heat insulation, impact resistance, dynamic cutting, shielding and flame retardant performance has been comparable to the level of similar products of foreign manufacturers, and has successively obtained various industry standard certifications, and has been recognized by customers. Among them, according to the "Science and Technology Novelty Search Report" issued by a third-party organization, the formulation and process production technology of the company's anti-collision protection and shielding protection products have not been reported in the same research literature and results as the technical novelty search points in China, which is advanced and innovative in the industry. According to the prospectus, during the reporting period, the proportion of the company's core technology corresponding product revenue to the main business income was respectively. 09% and 8573%。
At the same time, since its establishment, Jundingda has always adhered to independent research and development, technology research and development as the driving force of various businesses, after years of development and accumulation, the company has formed a mature research and development system, mastered the ability of independent innovation, through continuous improvement and innovation of the production process, has obtained 10 invention patents, 92 utility model patents. During the reporting period, the company's product revenue from the application of core technologies grew rapidly with the scale of its main business, accounting for more than 85%. In addition, the company has also won many honors such as the National High-tech Enterprise, the first batch of specialized and special new "little giant" enterprises of the Ministry of Industry and Information Technology, the 6th Shenzhen Top 100 Independent Innovation Small and Medium-sized Enterprises, and the 3rd Polymer Industry Innovation Award.
At present, Jundingda has built an excellent team of R&D talents, relevant supporting management and reward mechanisms have been effectively implemented, the internal team has strong cohesion, and various R&D activities have been carried out in an orderly manner. At the same time, the company has an independent R&D center, which consists of a testing center in line with CNAS accreditation, including physical and chemical analysis laboratory, aging laboratory, environmental laboratory, flame retardant laboratory, mechanics comprehensive laboratory, etc., and is equipped with various testing equipment in line with RoHS, halogen-free, QC T, ASTM, SAE, UL, ISO, GB T and other international, industry and domestic standards, which can fully support the R&D, analysis and testing and verification needs of existing products and future product projects. The company has strong scientific research and innovation capabilities, and its product technology and service capabilities have been comparable to foreign-funded advantageous enterprises, helping to promote the localization process of subdivided fields.
Innovative business model, stable customers, steady growth in operating income
In the process of business development, Jundingda continuously explores business models that meet its own development requirements and the characteristics of the industry, and finally innovatively forms three business models that adapt to different operation links: procurement model, production model and sales model. In terms of procurement, the company has set up a special first-class chain management department to be responsible for procurement business, formulated a sound procurement system, and established a qualified first-class business management system to ensure the timely development of raw materials, machinery and equipmentIn terms of production, the company implements the production management model of "sales and production + reasonable inventory", which is mainly based on independent production and supplemented by outsourcing processingIn terms of sales, the company adopts a direct sales model. During the reporting period, the company's operating income was 28,160250,000 yuan, 32,597500,000 yuan, 46,660560,000 yuan and 23,885020,000 yuan, the compound annual growth rate of operating income in the past three years is 2872%, with a rapid growth rate.
At the same time, Jundingda designs customized products in combination with the complex working conditions and environment of the application, the diverse market demand, and the characteristics of "multi-variety and customization". On this basis, the company further excavates the needs of customers for other supporting products in the same scenario, from providing a single customized product to providing an overall customized solution, and realizes the transformation into a comprehensive service provider. At the same time, through years of accumulation of production practice, the company can cover the safety protection needs of various major types of wiring harness systems and fluid pipelines, and take the initiative to summarize the common needs of different segments, launch customized protection function technical solutions, and form a one-stop service capability. Therefore, the company has successively entered the first-class chain of a number of well-known terminal OEMs in domestic and foreign automobile, construction machinery, rail transit, communication electronics and other industries, and its direct customers include Aptiv, Sumitomo Electric, BYD, Gates Industries, Times Electric, Tyco Electronics, etc. At the same time, the company has established long-term and stable cooperative relations with well-known customers at home and abroad by virtue of its leading technical level, rapid response ability and mass production capacity, as of the signing date of this prospectus, the company has cooperated with Aptiv, Gates Industries, Zippertubing, Sumitomo Electric, CRRC Group, Furukawa Electric and other group customers for more than 3 years, and the cooperative relationship has been long-term and stable.
The market has broad prospects and the future is promising
After years of technology accumulation, Jundingda has gradually narrowed the technology gap with foreign-funded multinational enterprises and gradually enhanced its competitiveness in the domestic market. At the same time, the company adheres to the specialization, refinement, specialization, and novelty of the specialized and special new enterprise positioning, through continuous improvement of R&D strength and management level, and the industry chain of terminal OEMs, first-class parts and components to carry out in-depth cooperation, and with high product cost performance, stable supply quality, timely and fast customer response ability, successfully entered the automobile, construction machinery, rail transit and communication electronics industry chain supporting** The business scale has grown rapidly, and has gradually developed into one of the leading domestic enterprises in the polymer modified protective materials industry, and its product technology and service capabilities have been comparable to foreign-funded enterprises, laying a solid foundation for high-quality products to achieve domestic substitution. From the perspective of downstream application fields, the company's main products have a wide range of applications, not only used in traditional fields such as fuel vehicles, construction machinery, rail transit, communication electronics, etc., but also suitable for new energy vehicles, mobile communications, aerospace, photovoltaic, medical, wind power and other strategic emerging markets.
In recent years, with the organization and implementation of the manufacturing power strategy and the dual carbon strategy, China has vigorously developed key products and major equipment industries such as new energy vehicles, aerospace, high-performance medical equipment, marine engineering equipment, high-tech ships, photovoltaics and wind power, so as to improve the level of independent design and system integration capabilities, and break through the bottlenecks of common key technologies and engineering and industrialization. The above-mentioned applications and promotions have a higher degree of intelligence and system integration, and the working conditions are more complex, and the wiring harness system and pipeline system of related products or equipment require higher safety protection.
Taking new energy vehicles as an example, in the context of carbon peaking and carbon neutrality, the transformation of the global energy structure is imperative, among them, the automobile as a traditional carbon emission unit, in the global market, China, the European Union, the United States and other regions are actively setting off a change in the field of automobiles, among which the development of automobile electrification and electronics has become a general consensus, and new energy vehicles are relying on strong energy-saving and environmental protection attributes As well as the favor of consumers, the company has achieved revenue of 5,206 new energy vehicle products in 2021 through effective measures such as the research and development of new products and new energy product technologies and customized services for new energy vehicle customers720,000 yuan, with a compound growth rate of 38 in the last three years90%, is one of the fastest growing industry products in the company's reporting period, overall, domestic new energy vehicles are booming.
In the future, with the development of emerging markets, the product quality and product performance of the main products such as functional protective sleeves will also continue to improve, and the market scale of Jundingda is expected to continue to expand to meet the core needs of customers, realize the sustainable and stable operation of the enterprise, and create more value for customers, shareholders, employees, businessmen and society.