Dismantling of the annual report: the invisible performance of the new military industry in China

I saw the new strength of today's daily limit. When I first listed it a few months ago, I noticed its prospectus. Simple and low-key but gorgeous. Why do you say that? No diamonds do not take porcelain, and dare to take porcelain, is the new strength of the diamond. 微信图片_20171207105634.jpg It may be that the southerners have a big tongue, and Jin Gang and King Kong can’t tell. The core competitiveness of Xinjingang is synthetic diamond. According to Xinjingang's prospectus: metal-based superhard materials and related products are the company's current leading products, currently mainly including ultra-fine pre-alloyed powder for diamond tools, hob, grinding wheel, diamond grinding block, elastic grinding block. And a series of products such as silicon carbide grinding blocks. At present, the company's metal-based super-hard material products and ancillary products have been widely used in the field of building ceramics processing. With the company's applied research and marketing capabilities, the company's products can be rapidly expanded to other applications such as stone mining and processing. . First, the financial situation 微信图片_20171207105639.jpg According to the data provided in the prospectus, comparing the financial report of Xinjin in the past five years, we will find a strange phenomenon, and revenue and profit are almost in a straight line. It is not like a long-term enterprise, but a central enterprise like a stable business. 微信图片_20171207105642.jpg Gross profit margin and net profit margin are stable at around 30% and 10% respectively. Explain that Xinjin has strong control in its field. 微信图片_20171207105646.jpg In the past five years, the total assets have increased slowly. Xinjingang is a newly listed company in 2017. As the audit committee strengthened its review, many companies with insufficient profitability were rejected. It is reasonable to say that it should be a relatively good company to successfully pass the trial. What kind of trials does this seem to be a flat-panel company with a simple average of financial indicators? Second, the core business begins with the core business of Xinjingang. Xinjin has just three core businesses. 1512615614983706.jpg 1. Metal-based super-hard material products and ancillary products Metal-based super-hard material products and ancillary products are the company's current leading products, and the business revenue of this business accounts for 88%. At present, it mainly includes ultra-fine pre-alloyed powder for diamond tools, hob, grinding wheel, diamond grinding block, elastic grinding block and silicon carbide grinding block. Metal-based super-hard material products are cutting, grinding and polishing tools with the highest processing efficiency, lowest comprehensive cost and minimal solid residue. They can be widely used in ceramic processing, stone mining and processing, glass processing, building concrete processing, Fields such as machining. The company relies on outstanding diamond tools to independently develop and prepare ultra-fine pre-alloyed powders, as well as strong research and development capabilities of super-hard materials. It has continuously developed metal-based superhardness with high sharpness, outstanding cost performance, individualizedness and complete categories. Material products and related products to meet the needs of different customers. At present, the company's metal-based super-hard material products and ancillary products have been widely used in the field of building ceramics processing. With the company's applied research and marketing capabilities, the company's products can be rapidly expanded to other applications such as stone mining and processing. . The ultra-fine pre-alloyed powder for diamond tools is produced by the subsidiary Keda Bode, with output of 195.22 tons, 168.08 tons and 151.93 tons respectively. In order to ensure the scarcity of the metal-based superhard material products for the building ceramics in the application of ultra-fine pre-alloyed powder, the ultra-fine pre-alloyed powder for building ceramic superhard materials produced by the University of Science and Technology is only sold to the issuer, a small amount The ultra-fine pre-alloyed powder sold is only used in the field of stone processing. The business needs to pay attention to: In addition to the field of building ceramics, in recent years, research and development of diamond saw blades, integral diamond grinding blocks and combined milling wheels for stone processing, and metal-based bond superhard materials. Based on manufacturing technology and technology, the research and development of ceramic bond grinding wheels used in the field of machining. The main customers of the above products during the reporting period were Hong Kong Country Strong Development Co., Ltd., Sichuan Microcrystalline Technology Co., Ltd. and Jinan Metallurgical Research Institute Co., Ltd., etc., as the above products are in promotion and trial and product improvement. At the stage, the sales amount during the reporting period was small. 2. Metal-based wear-resistant composite materials and products Metal-based wear-resistant composite materials and products are the new products that the company has focused on research and development in recent years. This part of the business accounts for about 4% of the total revenue. At present, it mainly includes aircraft wear-resistant parts carbide coating, spiral impeller, road paver blades, mud extruder blades, crusher hammers and so on. The company prepares the hard alloy coating by thermal spraying technology to surface the wear parts of the aircraft, which effectively avoids the fatigue failure of the parts due to fretting wear and surface scratches. The related components have been successfully applied to various types of aircraft and realized. Small batch production. Other metal-based wear-resistant materials such as spiral impellers, road paver blades, mud extruder blades, crusher hammers, etc. are mainly produced by the company's original intellectual property rights and the world's first SHS steel-bonded carbide coating technology. The product has the characteristics of wide coating controllable range (coating thickness can be adjusted within 2~60mm), high composite interface strength, excellent wear resistance and impact resistance. It is mainly used in construction machinery, mining machinery and Building materials machinery field. With the continuous advancement of the company's applied research, the company's metal-based wear-resistant composite materials and products have extensive expansion space in the fields of coal, electric power, metallurgy, agricultural machinery, automotive and military. 3. Other products of other product companies mainly include metal-based lightweight high-strength composite materials, electromagnetic wave absorbing materials, anti-corrosion conductive materials, thermal barrier coatings, etc., which are new products researched and developed according to the supporting needs of weapons and equipment contractors. It is developed and produced by its subsidiary company Kang Taiwei. Due to the confidentiality, the details of other products are not fully disclosed, but from the line between the lines, we can speculate that this is the military high-tech industry: The company's metal-based lightweight high-strength composite products have light weight, high specific strength, high specific mode It is characterized by quantity, corrosion resistance, fatigue resistance, thermal conductivity and electrical conductivity, easy processing and other characteristics. The main products are lightweight and high-strength components of aircraft, which are still in the stage of process verification and bench research. 微信图片_20171207105655.jpg The company's electromagnetic wave absorbing material products can effectively absorb and attenuate electromagnetic wave energy. At the same time, it has the characteristics of light weight, wide frequency, high efficiency, high strength, high toughness, etc. It can effectively improve the assault and survivability of weapons and military equipment, and has passed the technical test. Waiting for the production of the relevant aircraft. The company's anti-corrosion and antistatic materials combine anti-corrosion and anti-static protection functions, with light weight, light color and stable protection performance, which can effectively eliminate the danger of static electricity and prevent the breakdown of electronic components caused by static electricity accumulation, fuel fire or explosion. At present, technical tests have been passed, waiting for the production of the relevant aircraft. The thermal barrier coating is a ceramic material sprayed on the surface of the metal workpiece, which has good high temperature resistance, heat insulation, oxidation resistance, corrosion resistance and high speed scouring performance. It is mainly used in aircraft power and steering components, and is still in the process. Verification and bench research and testing phase. Since 2010, the company has invested a large amount of capital and technical strength in the research and development of related products, and has undertaken a number of research and development projects including the National High Technology Research and Development Program (863 Program) and several technologies. Results. Despite this, in addition to the two aircraft wear-resistant parts carbide coating products began to enter the mass production stage, there are still a number of products still in the program demonstration, design stereotypes and waiting for production stereotypes, has not yet achieved large-scale sales. The main reason is that the above products are mainly used in military fields such as military aircraft, weapons and equipment, ships and ships, and the military products have the characteristics of large scientific research investment, high performance and quality requirements, and long debugging and acceptance periods. With the new generation of military aircraft and weapons and equipment in China, the demand for these products will gradually expand. It is speculated that the military aircraft supplied by the hidden materials produced by Xinjin are likely to be Wuzhi 10 and 歼31. Since these advanced military equipments have not yet been widely used, they are currently in the process of small-scale trials, so sales have not yet erupted. As the top representative in the Chinese Air Force field, the status of Wuzhi 10 and 歼31 is unprecedented, but on what basis is it that Xinjin is just their supplier? III. R&D Strength Xinjin has specially established the Guangdong Province Superhard and Electromagnetic Functional Materials Engineering Technology Research and Development Center, and has established long-term and stable scientific research cooperation with Beijing University of Science and Technology, Wuhan University of Technology, South China University of Technology and other universities. The combination of independent research and development, production, education and research has enabled many scientific research achievements to be successfully transformed into productivity. The company is in a leading position in the superhard materials industry. The director of Guangdong Province Superhard and Electromagnetic Functional Materials Engineering Technology Research and Development Center is called Guan Jianguo. His name is listed among the top ten shareholders of Xinjingang. Kang Taiwei, a subsidiary of Xinjingang specializing in the production of hidden materials, was established by him. 1512615697779262.jpg Baidu, this person will find the following information: Minister of Education Jiang Scholar Distinguished Professor, Chief Professor of Materials Science, Doctoral Supervisor, Academic Leader of Nanocomposites, National Talent of the "New Century Talent Project", enjoy the State Council Government Special allowance, and concurrently the director of China Micron Nanotechnology Association. Since the establishment and leadership of the Electromagnetic Functional Composites Research Group in 1997, he has been responsible for or led the research team to undertake and complete a number of national-level scientific research projects, including two National Natural Science Foundation projects and one National Natural Science Foundation project. More than 20 national research projects including 4 national 863 projects, 2 key model materials supporting projects, 2 national defense basic scientific research projects, 3 final assembly fund projects and 1 national defense science and technology commission special project production capacity construction project. The results of the research have passed the project evaluation and product appraisal of the Ministry of Education, the ship general and the Aerospace Science and Industry Group respectively, and it is recognized that “the comprehensive technical level is leading domestically and has reached the international advanced level” and has been included in the national military standard. The industrialization and the application of large-scale engineering on the country's important military model weapons and equipment have made important contributions to China's national defense and economic construction. Established a research and development base with nearly 20 million yuan of advanced scientific research equipment and more than 1,000 square meters of laboratory area, and became the basic research and engineering application development research of electromagnetic wave stealth and shielding composite materials in China (approved to establish superhard and electromagnetic functions) An important force in the composite engineering research and development technology research center of Guangdong Province. It is not difficult to conclude that Guan Jianguo, born in 1969, is one of the core figures of the Chinese Air Force's stealth technology and even a leading figure. Of course, Xinjin has just been such a great god. 8% of the military products business is responsible for Guan Jianguo, then what about 88% of the civilian business? There is another great god who is taking care of it. In 1986, 17-year-old Wang Zhenming went to the first crossroads in life. In order to get into the national key universities, he gave up the popular profession at that time and turned to the more unpopular metal materials discipline. Four years later, he entered the China Metallurgical Geology Bureau Jingri Diamond Industry Co., Ltd. In the early 1990s, wall punching was basically done by hand, which was not only inefficient, but also destroyed the wall structure. In order to solve this problem, Jingri Company proposed to develop a diamond engineering thin-walled drill bit. Wang Zhenming, who is only 27 years old, provoked the gird of technology development. Wang Zhenming soon became the youngest senior engineer in the company, and many customers often asked him for technical problems. On one occasion, the person in charge of Xin Jingang solved some technical difficulties according to Wang Zhenming's method. He was overjoyed and he repeatedly threw an "Olive Branch" to Wang Zhenming. In 2000, Wang Zhenming finally joined Xinjingang. Wang Zhenming has been engaged in research and development of new technologies and new products for a long time. Under his presiding and guidance, the patent products independently developed by Xinjin just accounted for more than 80% of corporate sales and profits and taxes. In recent years, Xinjin has been leading the industry with the dispersion-strengthened alloy powder technology, and the research and development and industrialization of this technology have poured a lot of efforts from Wang Zhenming. IV. Business Expectations and Outlook Legends China's stealth aircraft coating technology and US stealth aircraft technology have an unclear relationship. Therefore, we can reasonably speculate on the business prospects of Xinjingang through the situation in the United States. The painting of an F22 is equivalent to about 5 million yuan, and since the invisible paint is not friendly to the air, it is repainted once a year, and each painting takes about 2 million yuan. According to military fans, the annual output of F31 is about 50, and mass production is expected to begin at the end of 2017. Conservative estimates - According to the coating cost of one-third of US hidden materials, Xinjin Gang can increase revenue by 83 million. According to the gross profit margin of more than 50% of the business sector, the profit increased by more than 41 million. The annual output of Wuzhi 10 is estimated to be around 40. Therefore, it is conservatively estimated that after the mass production of Xinjingang's military sector, the annual revenue will exceed Wang Jianlin's small target: one billion. Therefore, the current flat performance of Xinjingang is all in the market. The increase in revenue in 2018 is likely to exceed 80%, while net profit is expected to double by more than 100%. V. Conclusion On the way to the great sea of ​​the motherland, more and more private enterprises, especially listed companies, have undertaken the glorious tasks of military R&D and production. They may not be too high-profile because of well-known reasons. But in their annual report, the data will explain everything, and their performance will continue to increase or even explode as the defense continues to grow.

Galvanized Steel Sheets

   GI/galvanized steel sheetsl/corrugated steel sheet /corrugated roofing sheet have superior performance and ideal corrosion resistance, forming, coating and other comprehensive properties, and are mainly used in construction, automobile, metallurgy and electrical appliances industries.  A new 350,000-ton continuous galvanizing unit has been added to our company. This unit adopts the US steel combined production process, which is galvanized strip after cooling by hot galvanizing, and has the functions of smoothing, tension straightening, passivation and oiling.  It can produce all kinds of galvanized steel sheets with thickness of 0.13-1.2mm and width of 700-1250mm.


   The hot dipped galvanized line of our company possesses high-tech advanced equipments,smoothing machine ,narrow lap welding machine,straightening machine.First class equipment,first class products.

Steel Sheet 9

Steel SheetsGalvanized Sheet Metal


Corrugated Roofing Sheet

Roofing Steel Corrugated Sheet,Color Coated Corrugated Sheet,Corrugated Zinc Sheet,Corrugated Roofing Sheet

Shandong Hengfeng Group , https://www.luhengfeng.com