January 24,Wanlang MagnetListed on the main board of the Shanghai Stock Exchange, this is also the first listed company in Anhui Province in 2022. The company issued 20.75 million shares in this IPO at an issue price of 34.19 yuan per share. The raised funds will be mainly used for door seal production line upgrades, reconstruction projects, research and development Center construction projects and information construction projects.
In recent years,Wanlang MagnetperformanceConstantly rising, 2018-2020, the companynet profitmore than doubled. What is more noteworthy is that the company continues to improve its supporting supply capabilities, and the advantages of the industrial chain are increasingly prominent. also,Wanlang MagnetIt is also continuously strengthening R&D investment, and its independent innovation ability continues to improve. The TPE environmental protection material developed by it has been used in refrigerator door seals on a large scale, which is leading the future development trend of the industry.
Wanlang Magnetic Plastic’s performance has grown steadily: brand awareness continues to improve
Wanlang Magnetic Plastic was established in 1999. Since its establishment, the company has been committed to the research and development, production, processing and sales of various refrigerator plastic parts products with refrigerator door seals as the core. The leading product is refrigerator door seals.
In recent years, the performance of Wanlang Magnetic Plastics has continued to grow steadily. In 2018, the company’s revenue was 790 million yuan. By 2020, this figure has risen to 1.215 billion yuan. In two years, the company’s revenue has increased by 53.81%. The company’s net profit also rose from 65.4425 million yuan in 2018 to 132.9414 million yuan in 2020, an increase of 103.14%.
In addition, Wanlang Magnetic Plastics prospectus shows that the company is expected toOperating incomeIt was 1.450 billion yuan to 1.550 billion yuan, an increase of 19.34% to 27.57% over the same period of the previous year; the net profit was 130 million yuan to 150 million yuan, an increase of -2.26% to 12.78% over the same period of the previous year.
Behind the steady increase in performance is the continuous improvement of the company’s competitiveness. Wanlang Magnetic Plastic’s leading product is refrigerator door seals. The company has established a whole industry chain operating advantage of “development of magnetic materials and polymer modified materials – research and development and manufacturing of molds and key equipment – product design of refrigerator door seals – product production and sales” , is one of the few professional refrigerator door seal manufacturers in the industry with the ability to support the entire industry chain.
In order to enhance customer stickiness, on the basis of maintaining the advantages of refrigerator door seal products, the company continues to increase business types, and successively undertakes modular business for downstream customers. The increase in injection molding business has further enhanced the company’s supporting supply capabilities, and the advantages of the industrial chain have become increasingly prominent.
Relying on outstanding research and development strength and technical level, high-quality product performance, good corporate reputation, and sound customer service system, Wanlang Magnetic Plastic has developed and maintained a number of high-quality core customer groups, and has established relationships with mainstream refrigerator OEMs at home and abroad. Long-term and stable cooperative relationship. The company’s downstream customers include Haier, Midea, Hisense,Changhong Meiling, TCL, Gree, etc., as well as Electrolux,Whirlpool, LG, Samsung, Panasonic, Siemens, Becco, Fisher & Paykel, Sharp and other domestic and foreign mainstream refrigerator OEMs.
Through years of brand management, Wanlang Magnetic Plastic’s “HIGASKET” trademark has been recognized as “Anhui Famous Brand”; HIGASKET brand refrigerator door seals have been recognized as “Hefei Famous Brand Product”, “Anhui Famous Brand Product” and so on. In addition, Wanlang Magnetic Plastic was also rated as “Hefei Brand Demonstration Enterprise” and “Hefei Intellectual Property Demonstration Enterprise”. The high brand awareness has laid a solid foundation for the company to continuously expand domestic and foreign customers.
In fact, according to statistics, from 2017 to 2019, Wanlang Magnetic Plastic supplied a total of 80.3724 million refrigerators with refrigerator doors to major customers such as Haier, Samsung, Hisense, Midea, Meiling, LG, TCL, and Gree Jinghong; , the total national refrigerator output totaled 243.2758 million units. According to this calculation, the domestic market share of Wanlang magnetic plastic refrigerator door seals is as high as 33%.
Continue to strengthen R&D investment, TPE environmental protection materials lead the development of the industry
The continuous rise of Wanlang Magnetic Plastic’s performance is also related to its continuous strengthening of R&D investment. Taking research and development expenses as an example, in 2020, the company’s research and development expenses will be 46.7711 million yuan, a year-on-year increase of 40.26%. In fact, in the past four years (from 2018 to the end of September 2021), the total R&D expenses of Wanlang Magnetic Plastics reached 152 million yuan.
Continuing to strengthen R&D investment, the company has achieved a number of technological achievements. Up to now, the company has mastered the core technology related to door sealing and obtained more than 200 patents, including 36 invention patents. Take the company’s “Research and Development of TPE Refrigerator Door Sealing Strip” project as an example, this project has passed the scientific and technological achievement appraisal of China National Light Industry Federation. Reducing the life cycle energy consumption of refrigerators has a significant effect. At present, TPE environmental protection materials developed by the company have been used in refrigerator door seals on a large scale. New environmental protection materials such as TPU and silica gel are gradually being promoted, leading the future development trend of the industry.
In addition, Wanlang Magnetic Plastic realizes the automatic control of gas flow through the improvement of the rubber sleeve setting process, which improves the consistency of the rubber sleeve shape. The company also independently developed automated equipment for drilling, cutting, welding and other processes to control the cutting accuracy of rubber sleeves and magnetic strips within ±1mm, which improved the efficiency of the welding process and reduced production costs.
In this context, many series of products such as door seal sleeves, HIPS plastic parts, ABS plastic parts, plastic cover plates, door cover components, etc. produced by the company have been tested by authoritative professional testing institutions, and have passed the EU RoHS and REACH certification. The products meet the requirements of green environmental protection and safety, and have obtained a pass to enter the international market. The “TPE refrigerator door seal”, “thin-wall refrigerator door seal” and “composite co-extruded refrigerator door seal” independently developed by the company won the “Aipland Core Award” at the China Home Appliances Expo in 2018, 2019 and 2021, respectively. The only company in the field of door seals to receive this honor. In March 2021, the company’s “Multiple Composite Refrigerator Door Seal (Type 506)” product was awarded the Golden Nail Award for China’s Home Appliance Industry Chain.
What is more noteworthy is that the company has participated in the compilation and revision of the “Technical Roadmap for China’s Refrigerator Industry” for many times, and actively promoted the establishment of relevant industry standards for refrigerator door seals. (QB/T1294-2013)”, “Magnetic Door Sealing Strips for Household and Similar Refrigeration Appliances (QB/T1295-2013)” and “Thermoplastic Elastomer Door Sealing Strips for Household and Similar Refrigeration Appliances (QB/T5370-2019)” )” and other three industry standards have been promulgated and implemented.
At present, Wanlang Magnetic Plastic has become a national high-tech enterprise, with “provincially recognized enterprise technology center”, “Hefei engineering technology research center”, “post-doctoral scientific research station”, and is the vice-chairman unit of Anhui Information Household Appliances Association. The center has passed the assessment of China National Accreditation Service for Conformity Assessment (CNAS) and obtained the laboratory accreditation certificate.
Consumption and structural upgrading drive industry development: Wanlang’s advantages of magneto-plastic are increasingly prominent
In recent years, the global refrigerator industry as a whole has shown a steady upward trend. In 2019, the global output of refrigerators and freezers was 190 million units, a year-on-year increase of 4.8%, and the sales volume was 180 million units. China is the world’s largest supplier of refrigerators and has exported to more than 220 countries and regions, accounting for nearly one-third of the world’s refrigerator sales (excluding China).
In addition to the increase in production and sales, consumption and structural upgrades have become important driving forces for the development of the refrigerator industry. Taking the Chinese refrigerator market as an example, according to the statistics of Aowei Cloud, the average online sales volume of refrigerators has increased from 220L in 2015 to 290L in 2020, and the average offline sales volume has increased from 294L in 2015 to 2020L. 387L. In addition to large capacity, the demand for mid-to-high-end refrigerators such as air-cooled, multi-door and multi-temperature zones, frequency conversion, and smart refrigerators continues to grow.
As a key component that affects the performance of the refrigerator, the refrigerator door seal must not only master the key core technologies of new material modification, technology and equipment, door seal design, mold design and processing, etc., but also have rich industry experience and Creativity.
In fact, with the tightening of national energy conservation and environmental protection policies and the transformation of residents’ consumption patterns, refrigerator OEMs have put forward higher requirements for upstream supporting enterprises, not only requiring supporting enterprises to provide energy-saving and environmentally friendly high-performance door seal products, but also requiring Provide refrigerator energy saving solutions.
The refrigerator door seal head manufacturer represented by Wanlang Magnetic Plastic has accumulated rich technology and experience in material modification, process improvement, product low-temperature sealing, anti-aging and deformation, antibacterial and anti-mildew, etc. Breakthroughs have also been made in the extrusion process. The performance of refrigerator door seal products of such enterprises has been continuously improved, the production process has been continuously optimized, the production cost has been continuously reduced, and the energy-saving effect has been continuously enhanced, and their leading advantages in the industry have become increasingly prominent.
At present, the domestic circulation strategy and overall consumption upgrade are still deepening. Among them,Appliance industryThe trend of consumption upgrading is particularly obvious. In this context, Wanlang Magnetic Plastic, which continues to strengthen its independent research and development capabilities, increase its industrial chain advantages, and enhance its brand influence, will surely accelerate its growth; and in the process of its growth, it will also bring rich returns to investors!
(Article source: Financial Associated Press)