On April 30, Kuangshun Materials (stock code: 300537) released its 2023 annual report. During the reporting period, the company achieved operating income of 509 million yuan, a year-on-year increase of 2.42%, and net profit attributable to shareholders of listed companies was 6.8971 million yuan, turning losses into profits over the same period of last year, a year-on-year increase of 121.56%.
On the same day, Kuangshun Materials released a first-quarter performance announcement, saying that the revenue in the first quarter of 2024 was about 117 million yuan, an increase of 11.63% year-on-year, the net profit attributable to shareholders of listed companies was about 14.94 million yuan, an increase of 14.23% year-on-year, and the basic earnings per share was 0.0746 yuan, an increase of 10.19% year-on-year.
Kuangshun materials 2023 annual report
Kuangshun materials 2024 first quarter report
According to the announcement, the total remuneration of directors, supervisors and senior managers during the reporting period was 5.0744 million yuan. Li Youming, chairman, director and general manager, received a total pre-tax remuneration of 908,200 yuan from the company, and Zhang Qibin, director, secretary of the board of directors, deputy general manager and chief financial officer, received a total pre-tax remuneration of 615,000 yuan from the company.
Founded in 2006, Kuangshun Materials is mainly engaged in the research and development, production and sales of electronic chemicals in the field of light curing such as coatings, photoresists and supporting materials, and was listed on the Shenzhen Stock Exchange in 2016. The company belongs to the electronic chemicals industry in the fine chemical industry, and has been committed to the research and development, production and sales of electronic chemicals in the field of light curing such as coatings, photoresists and supporting materials, and has independent research and development capabilities of high-performance coatings, photoresists and supporting materials.
From the product point of view, during the reporting period, Guangxin materials photoresist and supporting materials achieved revenue of 338 million yuan, accounting for 66.35% of operating income, an increase of 9.19% year-on-year, coatings achieved revenue of 171 million yuan, accounting for 33.54% of operating income, a year-on-year decrease of 8.44%, and other industries achieved revenue of 598,900 yuan, accounting for 0.12% of operating income, a year-on-year decrease of 51.45%.
Kuangshun materials said that during the reporting period, in the face of the complex and changeable domestic and foreign economic situation, industry demand fluctuations, upstream raw material supply fluctuations and fierce market competition, the company further optimized the allocation of resources to improve the level of operation, in the Longnan base under the framework of the production integration strategy to reduce the optimization of the historical scattered and limited production capacity, reduce the multi-base operation of the repeated investment in resources, multiple allocation of manpower, The cost of historical reasons such as management costs and logistics costs, while continuously optimizing the product structure, reducing the proportion of low gross profit products while growing steadily, and actively expanding the revenue of new products such as photovoltaic adhesives, display and semiconductor photoresists, functional films and metal packaging coatings, although the revenue and profit of consumer electronics appearance structural parts coatings and PVC flooring business declined year-on-year due to the market environment, but the company's overall operating income and profitability have rebounded after the optimization of the operation level and product structure.
In order to meet the continuous improvement of product quality requirements of downstream customers, the company has maintained strong R&D investment in recent years, adhered to the combination of independent innovation and absorption and introduction, and continued to increase R&D investment on the basis of continuously optimizing existing advantageous products, promoting continuous upgrading of technology and products, and strengthening project reserves and research and development of new products. According to the financial report, during the reporting period, the company's R&D expenses were 29.1679 million yuan, accounting for 5.72% of operating income.
During the reporting period, the research and development of Guangxin material display photoresist and semiconductor photoresist projects is progressing in an orderly manner, and sales are formed in the new field of display photoresist and photovoltaic insulating adhesive; at the same time, the company has further increased its investment in research and development of display and semiconductor photoresist, photovoltaic insulating adhesive, photovoltaic photosensitive adhesive, photovoltaic encapsulant, AG coating, functional film coating and other products, which is expected to become a new profit growth point for the company in the future and enhance the company's overall anti-risk ability.
Kuangshun materials said that the company will further increase investment in research and development, ensure the leading level of the company's technology, continue to reserve new products for the company's follow-up development, constantly improve the research and development management mechanism, promote the rapid transformation of research and development results, and comprehensively enhance the company's overall competitiveness by strengthening independent innovation capabilities and deepening the core competitiveness of enterprises.
During the reporting period, the growth of the consumer electronics industry has slowed down due to factors such as fluctuations in industry demand, limited supply of raw materials and price fluctuations, and operating and resource optimization and integration costs. The company is currently in the adjustment period of internal industry and resource integration, due to multi-base operation, resource and personnel allocation adjustment, product optimization adjustment and other factors, production costs, management expenses, sales expenses and other expenses have increased to a certain extent.
In order to improve the operating situation, the company has actively consolidated the company's current main products by improving comprehensive management capabilities, optimizing resource allocation, and reducing expenses. During the reporting period, the company's operating conditions, especially the business of the coating sector, gradually stabilized and developed for the better. In addition, based on the original products and technologies, the company will continue to develop technologies in new applications with high added value such as display panels, semiconductors, photovoltaics, and new energy vehicles, which will more effectively expand the company's product market space.
For the prospect of future development, Kuangshun materials said that the company will further play the company's competitive advantages in product specialization, technology research and development, cost control, customer resources, location layout, etc., accurately grasp the needs and changes of downstream customers, provide customers with diversified products to meet their needs, and further expand the scale of production, expand the industrial chain, continue to increase market share, strengthen brand promotion, and constantly accumulate and optimize customer group resources, enhance higher market reputation.
At the same time, Kuangshun materials will speed up the construction of the South China production base project to ensure the stability of the company's production and operation, sustainability and future development capacity reserves, further expand the company's business scale, improve product research and development and market expansion capabilities, effectively improve the company's operating efficiency and customer service efficiency, and continue to maintain the company's competitive advantages in domestic related industries. Through the implementation of the South China production base, the company will continue to keep up with the development trend of the industry, optimize the industrial layout, expand production capacity, further consolidate the company's dominant position in the PCB photoresist industry, and at the same time extend to the new fields of electronic chemicals industry chain in the field of display photoresist, semiconductor photoresist, photovoltaic adhesive and other light curing fields, and accelerate the development of the photovoltaic material market, so as to maintain the company's competitiveness in the industry.