Securities code: 300224 securities abbreviation: Yantai Zhenghai Magnetic Material Co.Ltd(300224)
Yantai Zhenghai Magnetic Material Co.Ltd(300224)
Record of investor relations activities
No.: 2021-005
√ specific object research □ analyst meeting
□ media interview □ performance briefing
Investor relations activity □ press conference □ Roadshow
Dynamic category
□ site visit
□ others (please describe other activities in words)
Name of participants: Emily Fletcher, Alex Tang, tiebin Liu, Josephine Engel and Cheryl Zhang of BlackRock asset management company
Time: December 14, 2021
Location teleconference
Reception of listed companies
Deputy general manager and Secretary of the board of directors: Song Kan
Personnel name
1. Q: please introduce the company’s business performance in the first three quarters of 2021.
A: in the first three quarters of 2021, the company achieved a total operating revenue of 2.401 billion yuan, a year-on-year increase of 78.63%; The net profit attributable to the company’s shareholders was 184 million yuan, with a year-on-year increase of 88.76% in investor relations; The basic earnings per share was 0.22 yuan, a year-on-year increase of 83.33%.
Q: what are the main application fields of the company’s high-performance Nd-Fe-B permanent magnet products?
Shao A: the company’s high-performance NdFeB permanent magnet materials are mainly used in “three energy” high-end application fields such as new energy, energy conservation and intelligence, including energy-saving and new energy vehicles, EPS and other automotive electrification products, frequency conversion air conditioning, wind power generation, energy-saving elevator, automation and intelligent consumer electronics.
3. Q: please introduce the development of the company’s new energy vehicle customers.
A: with its core technology, management system and other competitive advantages, the company has established a good brand image and occupied a dominant market position in the automobile market with high technical barriers, especially in the energy-saving and new energy automobile market. The company’s energy-saving and new energy vehicle products have achieved mass production or fixed-point production among the top ten automobile manufacturers in the world. It is a first-class supplier of many automobile main engine plants such as Volkswagen, Toyota, Nissan, general motors, Ford, Hyundai, FAW Hongqi, Great Wall Motor Company Limited(601633) and has entered the core supply chain of many new power automobile enterprises. Looking forward to the future, the company will fully benefit from the rapid development of energy-saving and new energy vehicle market. 4. Q: please introduce the pricing strategy of the company’s high-performance Nd-Fe-B products.
A: most of the company’s products are customized non-standard products. The overall product pricing adopts the cost plus method, taking into account factors such as product process difficulty. 5. Q: please analyze the reasons for the decline in the gross profit margin of the company’s high-performance Nd-Fe-B permanent magnet material business.
A: since 2021, the automobile market accounts for more than 50% of the downstream structure of the company’s products (among them, energy-saving and new energy vehicles account for more than 30%). Due to the long price adjustment cycle of automobile customers, the upstream and downstream price transmission is relatively slow, and the impact of rising raw material prices, the company’s gross profit margin decreases year-on-year. However, the business stability of automobile customers is good, which can bring long-term and stable income to the company. 6. Q: please introduce the company’s procurement mode. What is the company How to ensure the supply of raw materials.
A: the company adopts the procurement mode of “purchase by production” and “reasonable inventory”, formulates the procurement plan according to the sales plan, production plan and inventory report, submits the procurement application, and signs the procurement contract with each supplier after bidding or price comparison and approval. The company has established a stable procurement channel, perfect supplier management and quality management system. The company pays attention to market monitoring and analysis, and reasonably arranges inventory and procurement cycle; And has signed a long-term supply agreement with China Minmetals Rare Earth Co.Ltd(000831) Group Co., Ltd., ensuring the long-term and stable supply of main raw materials. 7. Q: how about the company’s raw material inventory?
A: the company adheres to the safe and stable raw material procurement strategy and arranges the procurement and inventory scale according to the sales order.
8. Q: please introduce the company’s capacity construction.
A: by the end of 2020, the company’s production capacity is 10000 t / A. The company plans to have an annual production capacity of 15000 tons by the end of 2021, 24000 tons by the end of 2022 and 36000 tons by 2026. The above capacity construction will effectively solve the company’s capacity bottleneck, help the company grasp market opportunities, expand market share, improve sales scale and enhance the company’s profitability.
9. Q: the motor energy efficiency improvement plan (2021-2023) requires increasing the application of energy-efficient motors. How much impact is it expected to have on the company?
Answer: motor energy efficiency improvement plan (2021-2023) It is proposed to promote the application of a number of key core materials, components and process technology equipment, form a number of backbone advantageous manufacturing enterprises, promote the high-quality development of the motor industry, and improve the penetration of rare earth permanent magnet materials in the motor industry. It is expected to have a positive impact on the company, but the specific impact on the company’s performance needs to be verified by the market.
During the reception, the company had full exchanges and communication with investors, and in strict accordance with the company’s information disclosure management system and other regulations to ensure the authenticity, accuracy, integrity, timeliness and fairness of information disclosure. There is no disclosure of undisclosed major information, and the letter of commitment for research has been signed as required by Shenzhen Stock Exchange.
List of accessories (if any)
nothing
Yes)
Date: December 14, 2021
