Star Source Material: Diaphragm Production And Sales Booming Performance Rapid Growth

- Mar 06, 2017-

Nearly two years in the new energy vehicles, driven by the rapid increase in the size of the diaphragm material market, the company as a diaphragm market leading enterprises, 2016 company diaphragm production 142 million square meters, an increase of 43.36%, diaphragm sales reached 139 million square meters, 38.44%, in the case of both production and sales, the company achieved operating income of 506 million yuan, an increase of 18.97%, to achieve the net profit of 1.55 billion yuan, an increase of 31.34%.

In terms of costs, the company's management expenses increased from 14.35% to 16.29%, mainly due to the increase in R & D expenses and IPO-related expenses, and the financial management and sales have improved, the overall cost rate is well controlled.

Diaphragm prices fell, gross margin fell instead of falling.

2016 due to the impact of domestic new energy vehicle subsidies, as well as the continuous release of diaphragm capacity, diaphragm prices fell. The company by improving the product process, improve production efficiency, play a large-scale production advantages, effectively reducing the production costs, reversing the decline in product prices unfavorable situation, product gross margin did not fall to 61.70%, up 3.66 percentage points.

With the gradual release of the company's high-end wet production capacity, will also effectively ease the impact of falling product prices. Companies to improve production at the same time, but also actively optimize the customer structure.

In the domestic market, the company's main customers cover BYD, Guoxuan Hi-Tech, Tianjin God, Wanxiang Group, Granville Granville power and other well-known domestic lithium-ion battery manufacturers in a number of enterprises in the international market, the company's products have been successfully achieved on South Korea LG Chemical and other well-known foreign manufacturers of bulk products supply, and foreign large-scale well-known lithium-ion battery manufacturers to establish a business relationship and start the product certification work.

New production capacity gradually released to maintain the leading position in the industry.

The company's IPO investment projects 50 million square meters of dry production capacity will be put into operation at the end of the first quarter of this year, in addition to Hefei Star source 80 million square meters of wet diaphragm capacity will also be put into operation this year, the company's total production capacity in 2017 is expected to reach 300 million square Meter.

The future of the company's main new capacity for the wet and coating production lines, high value-added products, will effectively avoid low-end product price competition, improve the company's product profitability. The gradual release of high-end product capacity will continue to consolidate the company's leading position in the diaphragm industry to maintain the company's rapid growth performance.