On January 18, 2022, Meirui New Materials (300848) issued a notice saying: Li Xin Fu Yuheng, the Shangshan Ruoshui Fund, investigated our company on January 17, 2022.
The main contents of this survey are as follows:Q: the price of raw materials has fluctuated greatly in the past 21 years. What is the impact on the price of TPU products?
Answer: in the case of raw material price fluctuations, the company will adjust the sales price of TPU products appropriately according to the price of raw materials and downstream market conditions.
Q: how is the progress of the Henan project?
A: the polyurethane new material industrial park project located in Hebi City, Henan Province is implemented by Meirui Science and Technology (Henan) Co., Ltd., a subsidiary of the company. At present, Meirui Science and Technology has won the project land and is carrying out the preliminary project approval and other work.
Q: what products does the Henan project make? does it also make TPU?
A: the project focuses on the production of new polyurethane materials, which develops upstream and downstream, and finally forms a new polyurethane material production base of the whole industry chain. The specific construction content can pay attention to the follow-up announcement of the company.
Q: is PBS material a proprietary technology? Is there a patent?
A: PBS's production technology is independently developed by the company and belongs to the company's trade secret.
Q: are all the production equipment of the company made in China?
A: through mastering TPU production technology independently, the company has become the first domestic enterprise to localize key equipment and components, greatly reducing the dependence of the company and industry on imported equipment and high costs.
Q: what is the reason for the large amount of notes payable by the company?
A: the company pays according to the terms of payment in the purchase contract signed with the raw material supplier.
Meirui new materials main business: focus on TPU research and development, production, sales and technical services
According to the third quarterly report of 2021, the company's main income was 903 million yuan, up 77.76% from the same period last year; the net profit was 76.0849 million yuan, up 29.23% from the same period last year; and the non-net profit was 60.0219 million yuan, up 5.69% from the same period last year. Among them, in the third quarter of 2021, the company's main income in a single quarter was 377 million yuan, up 64.15% from the same period last year; the net profit in a single quarter was 30.5217 million yuan, up 39.75% from the same period last year The non-net profit in a single quarter was 24.4299 million yuan, up 12.84% from the same period last year; the debt ratio was 41.42%, the investment income was 6.9438 million yuan, the financial expenses were-4.8469 million yuan, and the gross profit margin was 14.8%.
The stock has no agency rating in the last 90 days. According to the Securities Star valuation analysis tool, Meirui Xincai (300848) has a good company rating of 4 stars, a good price rating of 1.5 stars, and a comprehensive valuation rating of 2.5 stars. (rating range: 1-5 stars, up to 5 stars)