Revenue over 1.3 billion! Guanghua speed up the transformation of special effect resin technology

On April 25th, Guanghua Co., Ltd. released its annual report for 2022, which showed that the company achieved an operating revenue of 1.358 billion yuan, a year-on-year increase of 3.41%; a net profit attributable to shareholders of the listed company of 132 million yuan, a year-on-year decrease of 18.86%; and a net profit attributable to shareholders after deducting non-recurring gains and losses of 126 million yuan, a year-on-year decrease of 21.13%. The net cash flow generated from operating activities in 2022 was 64.14 million yuan, a year-on-year increase of 125.37%.

As a major supplier of polyester resins for powder coatings in China, Guanghua Co., Ltd. offers more than 180 different types of polyester resins, including outdoor and indoor types, which can fully meet the differentiated needs of downstream powder coating manufacturers for weather resistance, corrosion resistance, decoration, and other functional requirements. With years of experience in the powder coating polyester resin industry, the company has accumulated a large number of high-quality customer resources based on its comprehensive advantages in product technology, service, and brand. The company has become a stable supplier to large customers such as AkzoNobel, Qianjiang High-tech, Guangdong Ruizhi, Tiger Coatings, Jordan Coatings, and PPG.

Currently, the company's total production capacity is 99,000 tons. After the completion and commissioning of the project to build an annual output of 120,000 tons of polyester resin for powder coatings, which was funded by the company, the production capacity will increase to 219,000 tons.

In 2022, the operating revenue of Guanghua Co., Ltd.'s outdoor polyester resin was 1.14 billion yuan, a year-on-year increase of 2.42%, with a gross profit margin of 16.97%, a decrease of 3.99% compared to the same period last year. The operating revenue of indoor polyester resin was 159 million yuan, a year-on-year increase of 3.61%, with a gross profit margin of 18.30%, a decrease of 6.66% compared to the same period last year.

The decline in profits was mainly due to the impact of the price increases of upstream raw materials PTA and PIA. According to the purchasing data in the report, the average purchase prices of PTA and PIA increased by 28.84% and 16.28% year-on-year, while the average purchase price of NPG decreased by 20.03% year-on-year in 2022.

Currently, the company has obtained 14 invention patents and 7 utility model patents, and has accumulated many core technologies such as stable high-acid-value polyester resin storage, wood grain transfer special polyester resin technology, electronic packaging material polyester resin technology, and silicone-modified resin technology. Among them, the technologies of stable high-acid-value polyester resin storage and wood grain transfer special polyester resin have been industrialized on a large scale. The technologies of electronic packaging material polyester resin and silicone-modified resin have broken through the key technologies and have begun small-scale trial production.

Benefiting from the promotion of national environmental policies and the expansion of the application of powder coatings, the demand for polyester resins for powder coatings has ushered in a new round of rapid growth in recent years. Against this background, Guanghua Co., Ltd. is further strengthening the accumulation and application of core technologies, especially the research and development of polyester resin-related technologies and products for special functional powder coatings, narrowing the gap with foreign competitors, and improving the company's core competitiveness. Currently, Guanghua Co., Ltd. has initiated the research and development of industry-leading processes such as LED back panel high-reflective powder coatings special saturated polyester resin, imitation electroplating powder coatings special saturated polyester resin, ceramic tile imitation marble effect powder coatings special saturated polyester resin, amide-modified saturated polyester resin for powder coatings, and quaternary ammonium salt-modified saturated polyester resin for antibacterial powder coatings, with the aim of achieving the transformation of scientific research results in the coming years.

In terms of production, with the completion and commissioning of the project to build an annual output of 120,000 tons of polyester resin for powder coatings, Guanghua Co., Ltd. will fully leverage its advantages in large-scale production, brand, and technology research and development, improve its market share and market position in the polyester resin for powder coatings market, and enhance its core competitiveness.

In order to provide value-added services to small and medium-sized powder coating customers, the sales department of Guanghua Co., Ltd. works closely with the research and development department to provide technical guidance on raw material mixing ratios, mixing methods, spray methods, and other aspects. By strengthening the linkage between the sales and technology departments, the company continuously enhances its stickiness with customers, strengthens its technical accumulation, and further improves its product market share.