Securities code: 301022 securities abbreviation: Qingdao Hi-Tech Moulds & Plastics Technology Co.Ltd(301022) Announcement No.: 2022-003 Qingdao Qingdao Hi-Tech Moulds & Plastics Technology Co.Ltd(301022) Jiangnan Mould & Plastic Technology Co.Ltd(000700) Co., Ltd
Announcement on receiving investor research activities
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
Qingdao Qingdao Hi-Tech Moulds & Plastics Technology Co.Ltd(301022) Jiangnan Mould & Plastic Technology Co.Ltd(000700) Co., Ltd. (hereinafter referred to as the "company" and " Qingdao Hi-Tech Moulds & Plastics Technology Co.Ltd(301022) molding") received the institutional research by means of on-site interview on January 21, 2022. Now the situation is announced as follows:
1、 Investigation
1. Research time: January 21, 2022
2. Research form: on-site interview
3. Research Organization: Guotai Junan Securities Co.Ltd(601211)
4. Receptionists of the company: Sun Wenqiang, chairman and general manager, Liang Tingbo, chief financial officer and Secretary of the board of directors, and Wei Qiuxiang, representative of securities affairs
2、 Summary of main questions exchanged and replies of the company
1. What is the correlation between the prosperity of the company's industry and the downstream, and what is the prosperity of the industry in 2022? A: the company always focuses on the R & D, production and sales of injection molds, and the products are mainly used in the automotive field. Automotive interior and exterior decoration mould is the core business of the company. The downstream customers of the company are mainly well-known vehicle manufacturers and auto parts suppliers at home and abroad. Therefore, the development of automobile mold industry is very important to the business development of the company.
Driven by the dual carbon background, the society has higher and higher requirements for automobile lightweight. The application proportion of plastic parts in automobiles is still rising, followed by the increasing demand for injection molds for new models. Secondly, with the improvement of economic level and the change of consumption concept, consumers' demand for automobile personalization and customization is gradually increasing, higher requirements are put forward for the quality of internal and external ornaments, and the quality and quantity demand of internal and external ornament molds are also gradually increasing. Finally, in order to better meet the needs of consumers, the speed of vehicle manufacturers launching new models is gradually accelerated, the configuration of automobile interior and exterior decoration is becoming richer and richer, and the demand for automobile interior and exterior decoration molds is increasing.
According to the latest data released by China Automobile Industry Association (hereinafter referred to as "China Automobile Association") at the online press conference held by the Ministry of industry and information technology on January 12, 2022, China's automobile production and sales completed 26.082 million and 26.275 million respectively in 2021, with a year-on-year increase of 3.4% and 3.8% respectively, ending the decline for three consecutive years since 2018. China Automobile Association predicts that in 2022, China's automobile market may continue to grow, and the production and sales volume may reach 27.5 million vehicles, a year-on-year increase of 5%. The huge production and marketing scale of the automobile industry provides a huge market space for the upstream automobile mold industry.
2. How large is the medium and high-end mold Market? What are the gaps with foreign competitors?
A: the total output value of China's mold industry is expected to be about 300 billion in 2021. According to wind statistics, the sales revenue of Enterprises above Designated Size in China's mold manufacturing industry from January to September 2021 was 216.413 billion yuan, a year-on-year increase of 15.84%. According to the analysis report on production and marketing demand forecast, transformation and upgrading of China's auto mold industry released by the forward looking Industry Research Institute, China's auto mold accounts for about 1 / 3 of the market share of the mold industry; According to the statistics of China mold industry association, plastic molds account for 45% of the total sales of molds. Based on this calculation, the market scale of China's automobile plastic molds from January to September 2021 is about 32.462 billion yuan, and the company's operating revenue from January to September 2021 is 447 million yuan. According to this estimation, the company's business accounts for about 1.38% of the market share of China's automobile plastic molds, which is 1.12% compared with that in 2020, and the company's market share increases by 23.21%, It indicates that the business growth rate of the company is higher than that of the industry.
The main gap with foreign competitors is that there is still a certain gap in the time accumulation of process data, the stability of delivered products, management tools, production efficiency and so on. However, with China's mold manufacturing industry increasing capital investment in electrification and intelligence, and China has trained a certain scale of industrial engineers and industrial workers, the above gap is also gradually narrowing.
3. Will automobile electrification affect the company's mold business? What strategies does the company have for new energy vehicles in the future?
A: the rapid growth of new energy vehicles is the biggest highlight of China's automobile industry in 2021. Its market situation has changed from policy driven to market driven, showing a good development situation of double improvement of market scale and development quality. According to the latest data released by China Automobile Association at the online conference held by the Ministry of industry and information technology, in 2021, the production and sales of new energy vehicles were 3.545 million and 3.521 million respectively, an increase of 1.6 times year-on-year, and the market share reached 13.4%, 8 percentage points higher than that of the previous year.
The future development opportunities of the company lie in:
1) With the growth of new energy vehicle market, more new models are developed, and the demand for molds is also increasing. As a well-known vehicle factory and auto parts supplier at home and abroad, the company has the opportunity to obtain more orders. It is expected that the company's order revenue applied to new energy vehicle molds will increase rapidly in 2021 compared with 2020.
2) The demand for personalization, customization and intelligence of new energy vehicles is increasing, the demand for interior and exterior decoration of vehicles is more diversified, and the demand for molds is more.
3) Under the background of double carbon, automobile lightweight has become the development trend of automobile industry in the future. Thin wall injection molding technology, micro foaming injection molding technology and composite molding technology independently developed by the company have been applied to mold manufacturing, and injection products have been mass produced. The company's exploration of new technologies and new processes makes the company more competitive in participating in the R & D of new models and more opportunities to obtain orders.
4) Referring to the experience of 20 years after China's accession to the WTO and the impact of the epidemic on the global supply chain, the world automobile manufacturing center is gradually transferring to China. China's automobile manufacturing industry has complete industrial supporting facilities and trained a certain number of industrial engineers and industrial workers. Industrial agglomeration is more conducive to the future development of the company.
In the future, the company will continue to promote technological innovation, actively develop the new energy vehicle market, R & D and manufacture mold products suitable for new energy vehicles. At present, the company's injection mold has been widely used in new energy models, including Mercedes Benz, BMW, Volkswagen, GM, ideal, Xiaopeng, future, Weilai, rivian, Gaohe hiphi and so on.
4. The progress of the company's fund-raising projects and the node of capacity release. How do large-scale precision injection molds improve the company's overall competitiveness?
A: the construction period of the "large precision injection mold digital construction project" raised and invested by the company is 24 months. Complete the engineering design and preparation of the project in the first 6 months, gradually complete the civil engineering, decoration and hydropower projects of the workshop in the 7th-20th months, gradually complete the purchase and installation of production equipment and supporting facilities in the 17th-22nd months, gradually complete the recruitment and training of personnel in the 7th-22nd months, and complete the commissioning, installation, trial operation and acceptance of equipment in the 17th-24th months. The project was started in November 2021 and is expected to be put into operation by the end of 2022. The production capacity is expected to double on the current basis by the middle of 2023.
The large-scale precision injection mold digital construction project corresponds to the company's current main business and main products. Its implementation will further improve the large-scale production capacity of the company's injection mold products, break through the capacity bottleneck, meet the needs of the company's continuous business growth, improve the market share and influence, and help the company provide customers with high-quality products and services, Improve the company's profit level, broaden the company's profit growth point and enhance the company's core competitiveness.
It is hereby announced.
Board of directors of Qingdao Qingdao Hi-Tech Moulds & Plastics Technology Co.Ltd(301022) Jiangnan Mould & Plastic Technology Co.Ltd(000700) Co., Ltd. January 22, 2022
