On April 29, Fujian Kuncai Material Technology Co.Ltd(603826) ( Fujian Kuncai Material Technology Co.Ltd(603826) , SH) 2021 annual general meeting of shareholders was held.
In view of the rise in raw material prices and countermeasures, Fujian Kuncai Material Technology Co.Ltd(603826) chairman Xie Bingkun said: “we have taken two measures: first, we have raised the price of Merle products by 10%, and we will raise the price of pearlescent materials again this year, which can basically hold (wipe) the price increase of raw materials through the price increase. Second, from this year, titanium and iron are basically owned by Fushi company (reporter’s note refers to Fushi new materials) Production to meet the raw materials of kuncai. Titanium and iron account for about 40% of our direct production cost, and the others are mica, water, electricity, gas and so on. The biggest problem this year should be titanium tetrachloride (price increase), which has now risen to about 9500 yuan / ton, so try to provide it yourself. Ferric chloride also consumes about seven or eight million a year. This is our by-product and can also solve this problem. The problem of rising costs and prices will be greatly improved this year. Kuncai can guarantee its own raw materials and reduce costs. “
