Huitian New Materials(SZ:300041)2022-12-07 09:38Group 1: Company Growth and Market Position - The company has maintained a rapid growth rate since its listing, driven by its leading product, organic silicone rubber, which has shown consistent annual growth [2][3] - The polyurethane adhesive project, funded by the IPO, has also experienced significant growth since its launch [3] - The company has a substantial market share in sectors such as photovoltaic adhesives, automotive adhesives, and electronic LED adhesives, and is expanding into new areas like solar cell back sheets and construction adhesives [3] Group 2: Research and Development Focus - The main R&D projects include touch screen adhesives (LOCA), water treatment filter adhesives, construction adhesives, packaging composite adhesives, wind power adhesives, microelectronics adhesives, and adhesives for high-speed trains [3][4] - The company has established a research center in Shanghai to centralize resources and attract talent, while subsidiaries also contribute to R&D efforts [4][5] Group 3: Customer and Market Strategy - The direct sales ratio to major customers is gradually increasing, with significant sales growth observed with clients such as Yutong Bus, BAIC, and Shenlong [3] - The company has begun integrating its backsheet and photovoltaic adhesive businesses to focus on top-tier clients, ensuring product quality and delivery efficiency [4] Group 4: Capacity and Acquisition Plans - Current production capacity for microelectronics adhesives meets existing demand, and there are no immediate plans for expansion [4] - The company is open to potential cross-industry mergers and acquisitions if suitable targets arise, although there is no current agenda for such activities [4]