Report released this week
Ningbo Peacebird Fashion Co.Ltd(603877) depth: fast fashion brand clothing pioneer driven by digitization, rise of national brands and take off
Industry view this week (this week refers to December 27, 2021 to January 2, 2022, the same below)
Event: Milkyway Chemical Supply Chain Service Co.Ltd(603713) Spring Festival annual meeting and mcp4 The 0plus press conference ended successfully. On January 2, Milkyway Chemical Supply Chain Service Co.Ltd(603713) released mcp4 at its annual Spring Festival meeting 0plus business management system. Milkyway Chemical Supply Chain Service Co.Ltd(603713) as a leading comprehensive logistics supplier of hazardous chemicals in China, it continuously optimizes its digital capability and puts “safety” and “efficiency” in an important position. In 2022, the company will continue to invest in the fields of digitization and informatization, expand technical advantages and build barriers.
Review 2021: firm digital transformation, ensure business safety and improve efficiency. In 2021, Milkyway Chemical Supply Chain Service Co.Ltd(603713) scientific and technological achievements were continuously implemented, and the UAV dangerous warehouse intelligent inspection system and transport vehicle anti-collision system were successively put into scene practice. According to the company’s official website, by the end of 2021, the company had successfully applied for 100 software copyrights, 45 utility model patents and 3 invention patents. In the operation of hazardous chemical warehouse, “safety” is the primary index. Human beings inevitably make mistakes, and using digital means to intervene in production and management processes is a good way to improve safety and production efficiency.
Outlook 2022: optimistic about system upgrading to help new businesses such as industrial e-commerce platform take off. In 2021, Milkyway Chemical Supply Chain Service Co.Ltd(603713) ‘s e-commerce business of industrial products experienced rapid development. In 2021h1, the company’s chemical e-commerce business realized a revenue of 1.15 billion yuan, a year-on-year increase of + 401%. The e-commerce of industrial products of Milkyway Chemical Supply Chain Service Co.Ltd(603713) is a “material trade integration” mode, that is, the performance link of the transaction is realized through the company’s own logistics and transportation system, involving the coordination and cooperation between multiple business departments. We believe that the company’s new system upgrade is expected to further improve the cooperation efficiency within the enterprise and lay a good foundation for future business growth and even cross regional expansion.
The overall penetration rate of e-commerce of industrial products is still not high, and the industry has broad prospects. According to the calculation of iResearch consulting, the penetration rate of e-commerce of China’s industrial products in 2020 is only about 4.5%; The penetration rate of e-commerce of industrial products is expected to reach 13.2% in 2025. We believe that the penetration of e-commerce of industrial products will be the core growth driver of the industry in the future. Enterprises conduct industrial products trading through Internet e-commerce, which can improve the human efficiency of the procurement and marketing department and realize cost reduction and efficiency increase, which is one of the main reasons for enterprises to change from traditional trade to industrial products e-commerce.
We are optimistic about Milkyway Chemical Supply Chain Service Co.Ltd(603713) the development prospect of “integrating material and trade”. Milkyway Chemical Supply Chain Service Co.Ltd(603713) the difference between e-commerce of industrial products and its peers lies in the “material trade integration” model, which is based on the dangerous chemical logistics network built by the company over the years, and the dangerous chemical operation has certain barriers in qualification, technology, management and so on. In 2021q1-3, Milkyway Chemical Supply Chain Service Co.Ltd(603713) achieved revenue of 5.95 billion yuan / + 149% YoY, and net profit attributable to parent company of 301 million yuan / + 42.6%, which achieved high growth driven by new businesses such as e-commerce of industrial products.
Recommended targets: Milkyway Chemical Supply Chain Service Co.Ltd(603713) , Beijing United Information Technology Co.Ltd(603613) , etc.
Risk tips: intensified industry competition, price fluctuation of industrial products, safety risks, lower than expected M & A, etc.
