广信材料(300537) - 300537广信材料投资者关系管理信息2025-002

Company Overview - The company specializes in various types of photoresists and coatings, evolving from PCB photoresists to a broader range of applications including photovoltaic adhesives and automotive coatings [2][3]. - The company aims to strengthen its traditional PCB photoresist and consumer electronics coatings while expanding into new markets such as photovoltaic technology and industrial coatings [3][4]. Business Strategy - The company focuses on leveraging its strengths in PCB photoresists and consumer electronics coatings to tap into the growing photovoltaic and automotive sectors [3][4]. - In 2023, the company recorded approximately $5 million in revenue from photovoltaic adhesives, establishing itself as a leading supplier in the industry [4][8]. Market Insights - The photovoltaic BC battery market is projected to grow significantly, with expected production reaching 70 GW in 2025 and 115 GW in 2026, potentially capturing 50% market share by 2030 [4][6]. - The company anticipates benefiting from this growth as a core supplier of BC battery insulation adhesives, which are essential for the production of BC batteries [5][8]. Revenue Breakdown - PCB photoresists accounted for 55.75% of the company's total revenue in 2023, highlighting its importance as a foundational product [9][10]. - The company expects stable growth in the PCB photoresist segment, supported by a projected CAGR of 3.8% in the global PCB industry from 2024 to 2027 [10][11]. Product Development - The company is actively developing new products in response to market demands, including FPC photoresists and coatings for automotive applications [11][12]. - The company has initiated the development of graphene-based anti-corrosion coatings, which are environmentally friendly and offer enhanced performance [16][17]. Future Outlook - The company is expanding its production capacity at the Longnan base, with plans for trial production of PCB photoresists expected in early 2024 [18][19]. - The strategic focus includes enhancing the industrial anti-corrosion coatings market, which is projected to be a significant growth area due to increasing demand for high-performance materials [15][16].