玉马遮阳(300993) - 玉马遮阳调研活动信息

Market Overview - The functional shading products have gained widespread recognition in developed countries such as Europe, America, and Australia, with a market penetration rate exceeding 70% [2] - The European shading industry employs over 500,000 people, with annual sales exceeding €500 billion, approximately ¥4,000 billion [2] - In 2021, the domestic shading industry in China was valued at ¥280.6 billion, with a market penetration rate of less than 5%, projected to reach ¥500 billion by 2025, with a CAGR of 17% [2] Company Background - The founder, Mr. Sun Chengzhi, has been dedicated to the shading industry since 1991, leading the development of new materials and technologies, resulting in over 100 patents [3] - The company aims to focus on the rapid growth of the functional shading product market and enhance its competitiveness [3] Customer Composition - Approximately two-thirds of the company's customers are finished product processors, while one-third are traders [3] Pricing Strategy - In 2021, the company raised prices by 3%-5% due to raw material price increases and exchange rate fluctuations [3] - The company is monitoring costs and will communicate with customers regarding price adjustments if necessary [3] Revenue Forecast - The revenue growth forecast for 2022 is set between 20%-35% year-on-year, considering various internal and external factors [3] Order Situation - Current orders for shading fabric products are maintained at around 2 months, adjustable light fabric at 3 months, and sunlight fabric at 5 months [3] Production Capacity - By the end of 2021, the company's production capacity reached 45 million square meters, with significant growth expected by the end of 2022 [4] - The company plans to complete all foundational construction by June 30, 2022, with full production capacity expected by 2023 [4] Seasonal Demand - The first quarter is typically a low season for production and sales due to the Spring Festival, while demand remains balanced in other quarters [4] Product Structure - The current product structure is evenly divided among three main categories, with plans to increase the proportion of adjustable light and sunlight fabrics while reducing shading fabric [4]