Securities code: 300243 securities abbreviation: Shandong Ruifeng Chemical Co.Ltd(300243) Shandong Ruifeng Chemical Co.Ltd(300243)
Record of investor relations activities
No.: 20220113
☑ Specific object research □ analyst meeting
□ media interview □ performance briefing
Investor relations activities
□ press conference □ Roadshow
category
□ site visit
□ others
Name of participating institutions Zhongtai Securities Co.Ltd(600918) Wang Huabing, Baoying fund Wang Hao, Baoying fund Xiao Xiao
Time: January 13, 2022
Venue: conference room, 3rd floor, Dongling road company, Yiyuan Economic Development Zone, Zibo City, Shandong Province
Receptionist of listed company
Zhao Ziyang, Secretary of the board of directors; Securities affairs representative Zhu Xihai
Member name
1. Main capacity, planned capacity and capacity utilization of the company
At present, the company has a production capacity of 180000 tons, including 70000 tons of ACR, 70000 tons of MBS and 40000 tons of MC. The production capacity has expanded rapidly in the past two years, from 100000 tons in 2019 to 180000 tons at present. In the past two years, the production capacity has increased by 40000 tons per year.
The company is currently building a capacity of 20000 tons of epichlorohydrin, which is expected to be put into operation in the second quarter of this year. 60000 tons of PBAT capacity for investor relations activities under construction. In the future, in terms of PVC additives, the company will continue to expand the production scale in due time, mainly to improve the position of the industry. At present, the company has broken through the technology of engineering plastic additives and will build a new production capacity of Engineering (key points of speech) plastic additives in due time.
In recent years, thanks to the continuous improvement of the company's market share, the company's capacity utilization has basically maintained a high level and basically reached the balance of production and marketing.
2. What is the overall business layout or development idea of the company
The development idea of the company is very clear, which is to expand and extend the industrial chain around the business of two plates:
First, plastic additives business. In the field of PVC additives, the company will continue to expand its scale, improve its industry status and improve its technical connotation. At present, many high-end brands of PVC additives are still mainly imported, and there is still much room for progress in this field. In the field of engineering plastic additives, the company is in its infancy. It should quickly realize mass production and marketing, stabilize the product quality and technical level, actively explore the market, and timely build new production capacity, so as to make engineering plastic additives an important engine for the transformation and upgrading of the company.
Second, biodegradable business. At present, 60000 tons of PBAT / PBS of the company is close to completion. On the one hand, the company actively expands the modification business to the downstream, improves the added value of products and provides customers with personalized services. At present, special modified materials for many products have been developed and achieved some results. The modified production workshop is also under construction. On the other hand, the research and development of succinic acid / BDO as the upstream raw material is carried out by the process of biological synthesis. At present, the company has made a lot of technical development preparations. In the future, the content of bio base will be one of the standards for assessing biodegradable materials. Bio base meets the requirements of double carbon policy and is also one of the requirements of current EU export. The company has also made certain achievements in the research and development of PLA. The pilot test has been completed in one step and the pilot test has been completed in two steps.
3. Market situation and future development trend of PVC additives in recent years
The raw material cost of PVC additives accounts for nearly 90% of the total cost. In the past two years, the company's main raw materials MMA, butadiene, styrene, butyl acrylate, vinyl acetate and acrylonitrile fluctuated sharply, affecting the profitability due to the epidemic situation, the economic situation outside China, the price rise of bulk raw materials and other factors. In the future, with more large refining and chemical integrated units put into operation, the supply of the above main raw materials will be more and more sufficient, and the price downward trend will be more stable, which is conducive to the cost control and profitability improvement of the company.
4. Current market situation and expected development trend of PBAT
At present, the price of BDO, the main raw material of PBAT products, has dropped slightly, and the ton price has dropped from more than 30000 to about 27000 yuan, but it is still at a high level. The continuously high raw material prices have a certain adverse impact on the PBAT market.
It is a general trend to control plastic pollution, and the use of biodegradable plastics is one of the effective ways to control plastic pollution. Although the market of PBAT is affected by the high price of raw materials, it is an indispensable material in the fields of biodegradable plastic bags, agricultural films and express packaging. In the future, it is expected to develop rapidly with the return of raw material prices to normal and the continuous implementation and promotion of the plastic ban policy.
During the reception, the reception personnel of the company had full communication and communication with the institutions participating in the research
In strict accordance with the information disclosure management system and other provisions, ensure that the information disclosure is true, accurate, complete, timely and fair, and there is no disclosure of undisclosed major information.
Annex list (if any) none
Date: January 13, 2022
