Summary of the first half annual report of Shandon

Shandong Jinjing technology 2013 first half annual report summary

content is extracted from Shandong Jinjing Technology Co., Ltd. 2013 half annual report summary

the company's revenue in the first half of 2013 was 1.626 billion yuan, an increase of 14.49% year-on-year. The high crystallinity of PGA makes it have good mechanical properties. The operating profit was 39.61 million yuan, up from -199 million yuan in the same period last year; The net profit attributable to listed companies was 64.32 million yuan, up from -123 million yuan in the same period last year

since 2013, the world economic environment has still not seen a substantial turnaround, and China's economy is no longer pursuing simple GDP growth. Economic restructuring and resolving industrial overcapacity have become the main tone for some time to come. In this environment, the contradiction between supply and demand in the glass and soda ash industry has not yet improved. Most of the established production lines in the glass industry have been put into operation before the peak season. By the end of June, 13 new ignition lines, 5 cold repair and resumption of production, and 5 shutdown and cold repair have been put into operation. The production capacity has increased, an increase of 47million heavy containers/year over the same period last year. The rapid increase of production capacity has restrained the rising space of prices and lagged behind the rising time

in the soda ash industry, due to the generally low downstream operating load, the amount of alkali used has been greatly reduced, and the price of the downstream glass industry of heavy alkali has been in a period of fluctuation. Judging from the start-up of enterprises, ammonia and alkali enterprises have mostly taken measures to limit production since the second quarter due to large losses in the early stage; Due to the continuous decline of ammonium chloride and the increase of enterprise inventory, most of the soda enterprises take early maintenance measures to reduce their own operating load. Due to the continuous production restriction and the increase of maintenance enterprises, the inventory of soda ash has decreased significantly since the second quarter, and the price of soda ash has gradually increased

during the reporting period, the company achieved an operating income of 162.674 million yuan, a year-on-year increase of 14.49%, and a net profit of 63.56 million yuan, turning losses into profits year-on-year

1. High quality float glass: at present, the domestic glass industry has a structural overcapacity situation, that is, the homogenization competition of ordinary flat glass is fierce, while the ultra-thin, ultra thick and other high-end original products and high-end deep-processing products used in automotive, home appliances, electronic industries, as well as large-scale high-end building decoration are insufficient. In the first half of the year, the production and sales of ultra-thin products (2.1mm and below) increased significantly year-on-year (the sales volume in the first half of 2013 increased by 53% compared with the first half of 2012); In addition, the customer base of automotive and home appliance glass has been greatly expanded. In addition to high-end customers, some secondary channels have been added in various regions, and the sales channels of various grades of products have been improved. The cooperative relationship between key customers has been further consolidated

2. Ultra white glass: due to the continuous downturn of the economic environment and the strong growth momentum of the industry's production capacity, the market of the glass industry did not substantially improve in the first half of the year. Driven by interests and in order to avoid the fierce competition of ordinary glass, some enterprises with ultra white glass production capacity have switched to ultra white glass, resulting in intensified competition in the ultra white glass market and a continuous trend

the grade differentiation of products in the ultra white market is becoming clearer: the quality of ultra white glass products in the market is uneven, and customers' acceptance of products is different, but Jinjing ultra white glass has always been the industry leader of ultra white collar brands. Silk fibroin in in the high-end market is its key market, and the recognition of Jinjing ultra white is high. As differentiated products, ultra white large plates and thick plates have contributed gratifying profits to the company, In the first half of the year, the sales volume of ultra white large and thick plates accounted for 5.3%, and the price was nearly twice that of ordinary products

3. Color glass products: in the first half of the year, the market competition of color glass in the domestic market has intensified. The gray and brown products produced by our company are the mainstream products in the current market and also face greater competition. However, our company has product quality advantages and market recognition is higher than that of competitors. In the first half of the year, according to the market demand, the production of crystal grey products was increased, which enriched the variety of colored glass products of our company and improved the profitability of the products

4. Glass deep-processing products: the company's deep-processing products are mainly used for export, and there are only some domestic solar module customers

in the first half of the year, the sales volume of deep-processing products was affected by the reduction of greenhouse and solar energy orders, and the total sales volume showed a downward trend. The sales volume of solar energy orders has decreased from 34% to 13% now, and the sales volume of greenhouse orders has decreased from 57% to 44% now. On the other hand, after the business personnel deeply tap the existing market potential, expand sales channels and open up new markets, the sales of deep-processing products has gradually changed the product pattern in which greenhouse and solar energy orders account for the absolute sales, and the orders of construction and household appliances have increased, becoming a new highlight and profit growth point of deep-processing. In the second half of the year, on the basis of maintaining the stability of existing market sales, the company will continue to adjust the structure of deep-processing products

5. Soda ash: in the first half of 2013, about 600000 tons of soda ash were produced, of which about 430000 tons of heavy soda ash were produced, the rate of high-grade products was 100%, the sales volume was 620000 tons, and the production and sales volume reached 103%

business development plan for the second half of the year:

1. High quality float: deepen the automotive glass market, take complete vehicle supporting customers as the leading role, and take spare parts customers as the supplement, and further improve the distribution channel layout

2. Colored glass: strengthen peer coordination, stabilize profitability, communicate and coordinate production cycle, and try to avoid price competition of similar products

3. Ultra white glass: keeping the Golden Crystal ultra white method can promote the market leading position of the brand, reasonably optimize the market, abandon some low-end markets, and strengthen the marketing of ultra large and ultra thick products; There are many mature customer cases to maintain high prices and high-end market share

4. Soda ash: continue to stabilize production and seize the opportunity of price recovery

analysis of core competitiveness:

1. The company has formed large-scale operation advantages: the company has developed rapidly after listing. Through construction, acquisition and other means, it has 10 float production lines in the form of wholly-owned or holding, with an annual production capacity of more than 35 million weight boxes and an annual production capacity of 1million tons of soda ash. It has become one of the leaders in the glass industry and soda ash industry, and has the advantage of large-scale operation

2. Through cross industry integration, the company's core competitive advantage will continue to strengthen: the company has formed a soda ash, sandstone glass glass deep processing industrial chain. In the future, with the continuous increase of the proportion of deep processing products, the industrial advantage will become more obvious in the future competition

3. Rationality of the regional layout of production entities: the production entities of the company are based in East China and actively distribute in North China and Northwest China, which will better share the economic development achievements of the above regions

4. The company has an experienced and stable management team, which lays a solid foundation for the sustainable development of the company. Zhonghua glass () Department