The company is headquartered in Guangzhou Science City. It has more than 30 subsidiaries (grandson) companies and has R&D and production bases in South Asia, North America, Europe and other overseas regions. Currently, it has three major ones in Guangzhou, Shanghai and Mianyang, Sichuan. The production base has an annual production capacity of 400,000 tons of modified plastics. The company has registered the "Kingfa" trademark in more than 20 countries including the United States, Canada, Japan, Malaysia, Thailand, Mexico, India, and South Korea. Kingfa Technology Materials is exported to more than 130 countries and regions around the world with its good environmental friendliness and excellent performance, and provides services to more than 1,000 well-known companies around the world.
Directors: Yuan Zhimin? Li Nanjing? Ning Hongtao? Cai Tongmin? Chen Yi? Xiong Haitao Li Jianjun
Independent directors: Chen Shuzhang, Mingqiu Qi Jianguo, Lu Xin
Plastics Manufacturing of granules;
Manufacturing of primary plastics and synthetic resins (except controlled chemicals and hazardous chemicals);
Manufacturing of degradable plastic products;
New materials Technical consulting and communication services; investment of enterprise's own funds; logistics agency services; materials scientific research and technology development; electronic equipment recycling technology consulting services;
Wholesale of metal products; wholesale of chemical products (except hazardous chemicals) ;
Office machinery manufacturing; Import and export of goods (except specialized products);
Technology import and export; Site leasing (excluding warehousing);
Real estate development and operation; other warehousing industries (excluding crude oil, refined oil warehousing, gas warehousing, dangerous goods warehousing); property management;
Manufacturing of biodegradable plastic products;
Warehousing agency services ;
New material technology development services; commodity wholesale trade (except licensed and approved goods);
New material technology transfer services; new material technology promotion services;
Manufacturing of special equipment for daily chemical industry;
Foam plastic manufacturing;
Recycling and wholesale of recycled materials;
(Projects subject to approval according to law shall be approved by relevant departments Business activities can only be carried out after approval)
2016 is the first year of the “Thirteenth Five-Year Plan”. Faced with multiple difficulties and challenges such as overcapacity, structural adjustment and economic downturn, the company, under the leadership of the Board of Directors, Strengthen confidence and face difficulties, focusing on the overall idea of ??"focusing on customers, collaborative innovation, and leapfrogging development", taking "market as the leader, technology as the core" as the action plan, and improving internal refined management and optimizing assessment and incentive methods as the Starting from the beginning, based on talent protection and information management, we strive to achieve the company's business goals in 2016. The sales volume of finished products (including trading products) for the whole year was 1.669 million tons, a year-on-year increase of 22.52%, maintaining a steady development trend.
Kingfa Technology has three core advantages in the field of automotive materials. First, it has a more complete product system in the industry; second, it has business relationships with basically all mainstream automotive OEMs and core first-tier suppliers in the world. The industry coverage is wider; third, Kingfa Technology is the domestic leader in the field of modified plastics and the third material manufacturer in the world with joint simulation analysis technology, and has the application technology development capabilities of forward design.
Kingfa Technology will make use of these three core advantages to expand market share and accelerate internationalization through all-round cooperation with OEMs and core first-tier suppliers in the industry.
International layout
The company has gradually established R&D and supply platforms in the United States, Europe and other places, built international platform corridors, and formed a localized business team, technical support team and Operations team.
In addition to platform construction, Kingfa Technology will leverage its customer resources scattered around the world to promote the Kingfa brand globally through deepening cooperation.
Supply chain finance
? In 2016, Kingfa Dashang operated steadily according to the idea of ??"grasping the middle (e-commerce) and expanding both ends (finance, logistics)" and has taken the initial stage. It forms a virtuous online and offline cycle of one network and four platforms, and has certain industry influence. In May 2016, the plasticizing e-commerce trading platform "Yishujia" was officially launched. It mainly sells products related to the plasticizing industry, covering plastics, additives, synthetic rubber and plastic machinery. After seven months of operation, Yishujia has achieved a gross merchandise volume (GMV) of 2.8 billion yuan. In the supply chain financial sector, Kingfa Dashang has improved its financial structure by establishing Kingfa Dashang (Zhuhai) Commercial Factoring Co., Ltd.; it has improved risk management by cooperating with insurance companies, credit information institutions and traditional banks and building an internal risk review system. level, and has served more than 100 small and medium-sized customers in the industry. In the logistics sector, Kingfa Dashang has built and improved a warehousing and logistics service network through the nationwide warehouse layout, supply chain financial platform and e-commerce platform transaction and data support, and has initially implemented logistics matching information services for the plasticizing industry. At present, Kingfa Dashang uses Guangzhou and Kunshan delivery warehouses as its base points to integrate hundreds of domestic plastic professional warehouses, covering major plastic distribution centers, production areas and consumption areas in East, South and North China. During the reporting period, the total gross profit of Kingfa Dashang e-commerce platform’s self-operation, supply chain finance, warehousing logistics and membership fees was nearly 30 million yuan.
Main business conditions
During the reporting period, operating income was 17.991 billion yuan; operating profit was 684 million yuan, a year-on-year increase of 16.03%; net profit attributable to shareholders of the listed company was 737 million yuan yuan, a year-on-year increase of 3.51%; basic earnings per share was 0.2880 yuan, a year-on-year increase of 3.60%; the weighted average return on equity after deducting non-recurring gains and losses was 6.77%. The company's net cash flow generated from operating activities was 781 million yuan ; The company's total assets are 20.259 billion yuan, total liabilities are 10.534 billion yuan, the total equity attributable to the parent company's owners is 9.651 billion yuan, and the asset-liability ratio (parent company data) is 47.94%.
Core competitiveness
(1) Technological innovation
1. First-class scientific research and development system
2. Strong scientific research and development team
3. Incentive mechanism for innovative scientific and technological talents
4. Fruitful research and development results
(2) Business model
1. Global collaboration Marketing network
2. Upstream and downstream linkage sharing platform
3. In-depth exploration of customer needs based on big data
(3) Operation management
1. Advanced information support platform:
2. Strong supply chain management capabilities:
4. The company’s future development
(1) Industry structure and trends.
The domestic modified plastics industry has developed rapidly in recent years, with the average annual growth in output and apparent consumption reaching 20% ??and 15% respectively.
Modified plastics are widely used. Mainly include the automobile industry, home appliance industry, electronic and electrical industry, construction industry, medical industry and many other industries. With the influence of trends such as "replacing steel with plastic" and "lightweight automobiles, thin and fashionable home appliances", "new urbanization" , "Building a Beautiful China" and other policies are gradually implemented, the industry's application products will be further expanded, corporate technology upgrades and innovations, and product structure optimization and adjustment will bring broad development prospects to the industry.
With its more than 20 years of experience in the development of modified plastics and technology accumulation, as well as its diversified product categories, rich material application experience and superior product services, Kingfa Technology has been committed to serving customers Provide overall solutions, continuously explore the mid-to-high-end market and substitute imported products, provide products with high cost performance, stable quality and fast delivery, and continuously seize the market share of multinational companies.
(2) Company development strategy.
The company has formulated a development strategy of "strengthening the middle, expanding both ends, leading by technology, and developing by leaps and bounds", and vigorously develops modified plastics, completely biodegradable plastics, special engineering plastics, high-performance carbon fibers and composite materials and environmental protection After 10 years of development, the five major categories of new materials for high-performance recycled plastics will become the world's leading new chemical materials company by 2025, while providing guarantee and support for national strategic materials.
Specific measures include: building a "13551" R&D system based on global collaboration (1 central research institute, 3 regional R&D centers, 5 sub-technology centers, 5 new chemical material incubation bases and 1 Industry-university-research collaborative innovation center); further improve the international layout with the United States, Europe and India as the fulcrum; establish a global collaborative work system and create a management system based on the business leadership model, etc.
(3) Business plan.
In 2017, the company will focus on the management theme of "adding value customers, increasing efficiency and synergy, increasing profits, and activating cadres", focusing on management improvement and the introduction of high-end talents, with an innovation system, a benefit evaluation system, The information platform serves as a guarantee to ensure that the 2017 business goals are achieved. In terms of marketing, we will strengthen the leading role of marketing and improve the marketing management system. With the guiding principle of "strengthening the industry's deep cultivation areas", we establish business opportunity management and customer management systems through CRM to optimize the customer management system and achieve the business goals of value-added customers. In terms of technology, we will improve the core layout of technology. Create a competitive product layout through product classification management; build an IPD R&D management platform, strengthen technology R&D project management, and achieve "specialization in the industry"; in terms of internal operations, it is necessary to carry out refined management and improve the organization's collaborative combat capabilities. We advocate vigorously recruiting top talents and cultivating high-end technical talents, technical marketing talents and industry leading talents. Activate cadres and encourage new people to be boldly employed.
(4) Possible risks.
1. Raw material prices rise.
Since the second half of 2016, the price of resin raw materials has continued to rise, and the price increase of downstream customers' products has lagged behind, which has put great pressure on the company's costs and affected the company's profits.
The price of resin raw materials is affected by the fluctuation of international crude oil prices, and there is still great uncertainty in the future.
In 2017, the company adopted a pricing management mechanism to promptly respond to fluctuations in raw material prices.
2. Exchange rate risk.
The company currently has three overseas subsidiaries: Indian Blonde, American Blonde and European Blonde. As the company's globalization process increases, the proportion of overseas revenue in the company's revenue continues to increase. At the same time, the proportion of imported raw materials in raw material procurement by domestic companies is between 40% and 45%. Therefore, changes in foreign exchange rates have a certain impact on the company's operating costs and operating income. To this end, the company uses the Hong Kong Kingfa platform to strive to reduce the impact of exchange rate fluctuations on the company's performance. In addition, the company pays close attention to and studies the development trends of the foreign exchange market, and selects the most advantageous currency and settlement method for payment settlement to ensure the company's operating results.
3. Risks of intensified product competition.
In terms of upstream and downstream layout, large international companies have low costs and leading technologies; there are many domestic modified plastic manufacturers, and there have been many small companies for a long time. Price competition has been the main force, which has lowered the overall industry. Profit level. In addition, according to the needs of its own development, the company vigorously expands the application fields of its products, vigorously promotes globalization, and subsequently enters new countries, new markets, and new industries, which will also lead to intensified competition.
With the enrichment of the company's product lines and the continuous emergence of new products, the application fields of products continue to expand. The company is faced with different product requirements from many countries and industries, which will inevitably lead to the company's product compliance risks. To this end, the company has established a dedicated team to deal with various risk management tasks such as product laws and regulations, patent protection and product certification.
Kingfa Technology recently announced that its restructuring had failed. Data show that it has been more than four months since the company suspended trading in early January this year to plan a major asset restructuring. Although the trading suspension took a long time, this restructuring failed to finally take place. In addition, Kingfa Technology’s recently disclosed quarterly report showed that its performance was almost cut in half, and its net profit also fell sharply for two consecutive quarters, with non-net profit falling by nearly 70%. In addition, the gross profit margin in the first quarter was only 13.07%, a six-year low.
The subsidiary introduced related parties to cooperate with Kingfa Technology and was questioned
Kingfa Technology recently disclosed the "Announcement on Foreign Investment and Related Transactions" and related supplementary announcements, saying that the company will The investment of the subsidiary Wuhan Jinfa Technology Industrial Co., Ltd. (hereinafter referred to as "Wuhan Industrial") has all been adjusted to debt, but it enjoys the appreciation of RMB 49.97 million in the construction land (hereinafter referred to as the "project land"), Wuhan Industrial's main asset. The company then invested in the value added of the project land, etc., and increased capital in Wuhan Industrial in equal proportions with its related party Guangdong Yueshang High-tech Co., Ltd. (hereinafter referred to as "Guangdong High-tech"). After the transaction was completed, the company held 49% and 51% of the shares respectively. .
The regulatory authorities issued a letter of inquiry from the exchange, raising questions about whether the pricing of the related transaction was fair and reasonable, and whether there was any transfer of benefits to related parties.