泉果基金调研永新股份

Core Insights - The company Yongxin Co. has shown improvement in gross margin due to several factors, including scale effects, product structure changes, quality enhancement, and technological innovations [2]. Group 1: Company Performance - Yongxin Co. achieved a record revenue of 980 million in Q4 2024, contributing positively to gross margin improvement [2]. - The company has a strong competitive advantage due to over 30 years of industry focus, large scale, quick response, and strong service capabilities [2]. Group 2: Market Expansion - The company is expanding into overseas markets, particularly in ASEAN countries, Japan, Mexico, and South Africa, leveraging partnerships with multinational corporations [2]. - The impact of tariffs on overseas business is minimal, as most operations are in regions with low tariff implications [2]. Group 3: Future Plans - The company plans significant capital expenditures, including a new production capacity for functional film materials and multi-functional films, with total investments of 180 million and 400 million respectively [2]. - The company aims to focus on high-quality and differentiated products in its film business to drive future growth [2]. Group 4: Dividend Policy - The company intends to maintain a stable dividend policy, ensuring it does not affect normal operations and investment development [2].